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TIAA-CREF Life Insurance Company (TIAA-CREF Life) is a wholly owned subsidiary of Teachers Insurance and Annuity Association (TIAA).
1 For its stability, claims-paying ability and overall financial strength, TIAA currently holds the highest possible ratings from the four leading insurance company rating agencies: A.M. Best (A++ as of 5/13), Fitch (AAA as of 1/14), Moody’s Investors Service (Aaa as of 1/14) and Standard & Poor’s (AA+ as of 6/13). Per S&P criteria, the downgrade of U.S. long-term government debt limits the highest rating of U.S. insurers to AA+ (the second-highest rating available). There is no guarantee that current ratings will be maintained. Ratings represent a company’s ability to meet policyholders’ obligations and do not apply to variable annuities, mutual funds or any other product or service not fully backed by TIAA’s claims paying ability.
2 TIAA-CREF Life’s Intelligent Variable Annuity’s maximum annuity expense charge ranges from 0.50% to 0.10%. If the Guaranteed Minimum Death Benefit option is selected, the maximum expense charge ranges from 0.60% to 0.20%. TIAA-CREF Life’s Single Premium Immediate Annuities total contract separate account charge is 0.60% (guaranteed maximum charges 1.20%). According to Morningstar, the average annuity expense charge is 1.36% for all non-group variable annuity policies in Morningstar Direct as of 01/10/2013. ©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.
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Learn whether exchanging your non-qualified annuity to a TIAA-CREF Life non-qualified annuity is right for you.