Investment Horizon
Intelligent Variable
Single Premium
Immediate Annuity
Deferred or immediate income Deferred Deferred Deferred
Fixed or variable rate of return Fixed Variable Fixed/Variable
Earnings are tax-deferred X X X
Distribution option of one-life, two-lives, or a fixed period X X X
Fixed income benefit payments can be guaranteed to be level1 X X X
Virtually unlimited contributions X X X
Tax-free exchange from an existing annuity2 X X X
Competitive interest rates that are tax deferred during accumulation X    
Choice of 10 guarantee periods (1 to 10 years) during accumulation X    
Lump sum distribution available X X  
No mandatory withdrawals until age 90 X X  
40+ investment options with 14 investment management firms   X  
Low expenses3   X X
No surrender charges X X X
Income benefit payments that will vary with market performance     X


1 Any guarantees offered are based on the claims-paying ability of the issuer.

2 There may be differences in features and expenses, and certain transactions may be taxable. Speak to a tax advisor regarding your particular situation.

3 TIAA-CREF Life’s Intelligent Variable Annuity’s maximum annuity expense charge ranges from 0.45% to 0.70%. If the Guaranteed Minimum Death Benefit option is selected, the maximum expense charge ranges from 0.55% to 0.80%. TIAA-CREF Life’s Single Premium Immediate Annuities total contract separate account charges are 0.60% (guaranteed maximum charges 1.20%). According to Morningstar, the average annuity expense charge is 1.30% for all non-group variable annuity policies in Morningstar Direct as of 11/30/2011. © Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Please keep in mind that annuities are designed for retirement and other long-term goals. If you choose to invest in the variable investment products, your money will be subject to the risks associated with investing in securities, including loss of principal.

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.

All solicitations pertaining to a contract for annuities may only be handles by an agent or broker licensed to engage in the business of annuities in the state in which you reside.

Non-qualified annuities are issued by TIAA-CREF Life Insurance Company, 730 Third Avenue, New York, NY 10017. TIAA-CREF Individual & Institutional Services, LLC, member FINRA distributes securities products. Intelligent Variable Annuity, contract form series TCL-VA2, TIAA-CREF Investment Horizon Annuity, contract form series TCL -MVA 1, and Single Premium Immediate Annuity, contract form series TCL-1009, TCL-1033, TCL-901 are issued by TIAA-CREF Life Insurance Company, 730 Third Avenue, New York, NY 10017. Not available in all states. Some products may not be available in all states.

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