Intelligent Variable Annuity from TIAA-CREF Life Insurance Company

DFA VA Global Moderate Allocation Portfolio

The Portfolio seeks total return consisting of capital appreciation and current income. To achieve its investment objective, the Portfolio, under normal market circumstances, purchases shares of underlying DFA Funds to achieve a moderate allocation to both global equity and global fixed-income securities.

Unit value as of 09/15/2014 : $26.56
Total return year-to-date as of 09/15/2014 : 3.55%
Expense charge 1 : 1.00%
Inception date : 11/01/2013
Investment class : Balanced
Performance Comparison
  Performance Data
as of 09/12/2014
Average Annual Total Returns
as of 08/31/2014
  Unit
Values
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since Inception
DFA VA Global Moderate Allocation Portfolio $26.61 -0.45% 3.74% -- -- -- -- 7.58%
DFA VA Global Moderate Allocation Composite 2 -- -0.31% 4.14% -- -- -- -- 7.37%

The performance data quoted represents past performance and is no guarantee of future results. Your returns and the principal value of your investment will fluctuate so that your accumulation units, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above. For investments with exceptional performance, please note that performance fluctuates and currently may be lower than noted here.

The risks that this fund is subject to include fund-of-funds risk, market risk, foreign securities and currencies risk, foreign government debt risk, small company risk, emerging markets risk, interest rate risk, credit risk, risks of banking concentration, income risk, derivatives risk, and securities lending risk.

For a detailed discussion of risk, please consult the prospectus.

1.
Includes both separate account and fund level charges. The maximum total annual expense charge without the waiver is 1.73%. Separate account charges reflect the highest possible mortality and expense risk charge although they may be lower. The unit value reflects the election of the Guaranteed Minimum Death Benefit. See the prospectus for additional information.
2.
This composite is made up of both the MSCI All Country World Index (net) which is weighted at 65% and reflects no deductions for fees, expenses or taxes and the Citigroup World Government Bond Index 1-3 Years (hedged) which is weighted at 35% and reflects no deductions for fees, expenses or taxes.

TIAA-CREF Individual & Institutional Services, member FINRA, distributes securities products. Intelligent Variable Annuity is issued by TIAA-CREF Life Insurance Company, 730 Third Avenue, New York, NY 10017.

Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.

© 2014 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017