<PAGE> 1
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION (NYLIAC)
51 Madison Avenue, New York, NY, 10010 (A Delaware Corporation)
NY Life Logo
NYLIAC VARIABLE UNIVERSAL LIFE SEPARATE ACCOUNT - I
SUPPLEMENTAL DISCLOSURE PAGE
Supplement dated May 1, 2000 to Prospectus dated May 1, 2000.
For Massachusetts residents, this disclosure page is delivered as a
supplement to the Prospectus for the NYLIAC Variable Universal Life
Insurance 2000 and NYLIAC Survivorship Variable Universal Life Insurance
policies. This page includes information required by Massachusetts law. You
should read it carefully. We will send you a report that will update the
figures shown on this page at least once each year.
SEPARATE ACCOUNT NET INVESTMENT RETURN(A)
The net investment returns for the Investment Divisions of the Separate Account
at the end of each applicable year are as follows:
<TABLE>
<CAPTION>
SVUL VUL 2000
<S> <C> <C> <C>
INVESTMENT DIVISION 1998 1999 1999
MainStay VP Capital Appreciation 37.17% 24.54% 24.81%
MainStay VP Cash Management 4.46% 4.12% 4.34%
MainStay VP Convertible 3.76% 40.99% 41.29%
MainStay VP Government 8.24% -2.43% -2.21%
MainStay VP High Yield Corporate Bond 1.95% 12.09% 12.30%
MainStay VP International Equity 22.26% 27.16% 27.43%
MainStay VP Total Return 26.24% 16.20% 16.45%
MainStay VP Value -4.81% 8.05% 8.28%
MainStay VP Bond 8.36% -2.22% -2.01%
MainStay VP Growth Equity 25.71% 29.06% 29.33%
MainStay VP Indexed Equity 27.59% 19.86% 20.11%
Alger American Small Capitalization 14.72% 42.42% 42.72%
American Century Income & Growth N/A N/A 17.02%
Calvert Social Balanced 15.46% 11.44% 11.68%
Dreyfus Large Company Value N/A N/A 6.21%
Eagle Asset Management Growth Equity N/A N/A 64.70%
Fidelity VIP II Contrafund(R) 29.07% 23.39% 23.65%
Fidelity VIP Equity-Income 10.85% 5.59% 5.81%
Janus Aspen Series Balanced 33.35% 25.87% 26.14%
Janus Aspen Series Worldwide Growth 28.02% 63.30% 63.65%
Morgan Stanley UIF Emerging Markets Equity -24.71% 94.32% 94.73%
T. Rowe Price Equity Income N/A N/A 3.22%
</TABLE>
ALL INVESTMENTS DIVISIONS ARE NOT AVAILABLE IN ALL NYLIAC VARIABLE PRODUCTS
UNTIL 5/19/00.
PLEASE RETAIN FOR FUTURE REFERENCE
(a) The NYLIAC Variable Universal Life Separate Account I serves as the separate
account for the NYLIAC Variable Universal Life 2000 Insurance and NYLIAC
Survivorship Variable Universal Life Insurance policies. NYLIAC Variable
Universal Life 2000 was first offered on September 28, 1999. For periods
prior to September 28, 1999 performance assumes that these policies were
available and that the Investment Divisions were offered under the NYLIAC
Variable Universal Life 2000 Insurance policies, which they were not. For
periods prior to June 5, 1998, when the NYLIAC Survivorship Variable
Universal Life Insurance policies became available, performance assumes that
these policies were available and that the Investment Divisions were offered
under the NYLIAC Survivorship Variable Universal Life Insurance policies,
which they were not.
Past performance is no guarantee of future results. The investment return and
the accumulation value of your policy will fluctuate so that your contract, when
surrendered, may be worth more or less than the original cost. Performance
reflects the percentage change for the period shown with capital gains and
dividends reinvested.
<PAGE> 2
The NYLIAC Variable Universal Life 2000 Insurance policies performance reflects
the deduction of the policy's current mortality and expense risk charge (.50%)
and the total fund operating expenses. It does not reflect the cost of
insurance, surrender charges, monthly contract charges, separate account
administrative charge, sales expense charges and state and federal tax charge.
Had these expenses been deducted, total returns would have been lower
The NYLIAC Survivorship Variable Universal Life Insurance policies performance
reflects the deduction of the policy's current mortality and expense risk charge
(.60%), the administration fee (.10%) and total fund operating expenses.
However, it does not reflect the policy fees or charges. These include the cost
of insurance, surrender charges, monthly contract charges, sales expense
charges, charge per $1,000 and premium and federal tax charges. Had these
expenses been deducted, investment returns would have been lower.
The MainStay VP American Century Income & Growth, MainStay VP Dreyfus Large
Company Value and MainStay VP Eagle Asset Management Growth Equity Portofolio's
reflect an expense reimbursement agreement that ended December 31, 1999 limiting
"Other Expenses" to 0.15% annually. In the absence of the expense reimbursement
agreement, the "Total Fund Annual Expenses" would have been 0.92%, 1.00% and
0.87% for the MainStay VP American Century Income & Growth, MainStay VP Dreyfus
Large Company Value and MainStay VP Eagle Asset Management Growth Equity
Portfolios respectively. "Other Expenses" for Calvert Social Balanced Portfolio
reflect an indirect fee. Net Fund operating expenses after reductions for fees
paid indirectly, would be 0.86% .
Through arrangements with certain funds or Fidelity Management & Research
Company on behalf of certain funds custodian, credits realized as a result of
uninvested cash balances were used to reduce a portion of each applicable fund's
expenses. Without these reductions, total operating expenses presented in the
table would have been 0.67% for the Fidelity VIP ll Contrafund(R) Portfolio and
0.57% for the Fidelity VIP Equity-Income Portfolio.
Expenses are based upon expenses for the fiscal year ended December 31, 1999,
restated to reflect a reduction in the management fee for Janus Aspen Series
Worldwide Growth and Balanced Portfolios. All expenses are shown without the
effect of any expense offset arrangements.
Morgan Stanley Asset Management has voluntarily waived receipt of its "Advisory
Fees" and agreed to reimburse the Portfolio, if necessary, to the extent that
the "Total Fund Annual Expenses" of the Portfolio exceed 1.75% of average daily
net assets. However, Morgan Stanley has reflected under "Other Expenses" the
Portfolio's interest and foreign tax expenses incurred in 1999 which were equal
to 0.04% of the Portfolio's average daily net assests. The fee waivers and
reimbursements described above may be terminated by Morgan Stanley at any time
without notice. Absent such reductions, it is estimated that "Advisory Fees",
"Administration Fees" and "Total Fund Annual Expenses" would be 1.25%, 0.25% and
2.62%, respectively.
For additional information, including illustrations that reflect guaranteed
maximum cost of insurance rates, please consult the prospectus.
All other information required by law is included in the Prospectus for the
NYLIAC Variable Universal Life Insurance 2000 or NYLIAC Survivorship Variable
Universal Life Insurance policies to which this disclosure page is attached.
