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NYLIAC VARIABLE ANNUITY
INVESTING IN
NYLIAC VARIABLE ANNUITY SEPARATE ACCOUNT-I
NYLIAC VARIABLE ANNUITY SEPARATE ACCOUNT-II
SUPPLEMENT DATED JANUARY 1, 1998 TO PROSPECTUS DATED MAY 1, 1997
This Supplement describes information relating to individual flexible
premium multi-funded variable retirement annuity policies ("Policies") offered
by New York Life Insurance and Annuity Corporation. This Supplement provides
information that a prospective investor should know before investing. Please
read it carefully and retain it for future reference. This Supplement is not
valid unless accompanied by the current prospectus for the Policies ("Policy
Prospectus"). Defined terms used but not defined in this Supplement have the
same meaning as in the Policy Prospectus. The Policy Prospectus should be read
in light of the following changes:
1. Effective January 1, 1998, the name of one of the Funds under
the Policies and the name of one of the Eligible Portfolios
thereof will be changed. Acacia Capital Corporation will be
renamed "Calvert Variable Series, Inc." and its Calvert
Responsibly Invested Balanced Portfolio will be renamed
"Calvert Social Balanced Portfolio." All references in the
Policy Prospectus to the Acacia Capital Corporation and
Calvert Responsibly Invested Balanced Portfolio should be
changed to Calvert Variable Series, Inc. and Calvert Social
Balanced Portfolio, respectively.
2. The minimum initial and maximum additional Premium Payment
requirements applicable to Policies delivered in New York are
now the same as those applicable to Policies delivered in all
other states. Accordingly, the second paragraph under Question
5 "What are the minimum initial and maximum additional Premium
Payments?" which appears on page 13 of the Policy Prospectus
is deleted in its entirety.
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
(A DELAWARE CORPORATION)
51 MADISON AVENUE
NEW YORK, NEW YORK 10010
