UPDATING SUMMARY PROSPECTUS FOR EXISTING INVESTORS
May 1, 2024
New York Life Flexible Premium Variable Annuity II
From
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
Issued through
NYLIAC Variable Annuity Separate Account-III
NYLIAC Variable Annuity Separate Account-IV
This summary prospectus summarizes key features of the New York Life Flexible Premium Variable Annuity II policies.
Before you invest, you should review the prospectus for the New York Life Flexible Premium Variable Annuity II policies, which contains more information about the policy’s features, benefits, and risks. You can find this document and other information about the contract online at https://dfinview.com/NewYorkLife/TAHD/flex-ii. You can also obtain this information at no cost by calling our Variable Products Service Center at 1-800-598-2019, by logging into your account at www.newyorklife.com, or by sending an email request with your name and mailing address to FlexIIProspectus@newyorklife.com.
You can sign up for electronic delivery of your summary prospectus, updates to the summary prospectus or other communications by logging into your account at www.newyorklife.com.
Additional information about certain investment products, including variable annuities, has been prepared by the SEC’s staff and is available at www.Investor.gov. The Securities and Exchange Commission (“SEC”) has not approved or disapproved of this security or passed upon the accuracy or adequacy of this summary prospectus. Any representation to the contrary is a criminal offense. The policies involve risks, including potential loss of principal invested. Policies are not deposits of, or guaranteed or endorsed by, any bank and are not federally insured by the FDIC, Federal Reserve Board, or any other agency.

Table of Contents
 
Page
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4
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i

Contacting NYLIAC
Certain service requests, including but not limited to, death benefit claims and surrenders, are required to be in writing. All written service requests (except for subsequent premium payments and loan repayments) must be sent to the NYLIAC Variable Products Service Center (VPSC) at one of the following addresses:
 
Regular Mail
Express Mail
All written service
requests (except for
payments)
NYLIAC Variable Products Service Center
Madison Square Station
P.O. Box 922
New York, NY 10159
NYLIAC Variable Products Service Center
51 Madison Avenue
Floor 3B, Room 0304
New York, NY 10010
Death Claim forms may
also be submitted to
Regular Mail
 
New York Life
P.O. Box 130539
Dallas, TX 75313–0539
 
Premium payments and loan repayments should be sent to the VPSC at one of the following addresses (acceptance of subsequent premium payments is subject to the sales standards we use to evaluate whether a recommended transaction related to your policy complies with applicable standards of conduct):
 
Regular Mail
Express Mail
Premium Payments and
Loan Repayments
NYLIAC
75 Remittance Drive
Suite 3021
Chicago, IL 60675–3021
NYLIAC
5450 N Cumberland Avenue
Suite 100
Chicago, IL 60656-1422
Written service requests will be effective as of the Business Day they are received in Good Order at our service center at one of the addresses listed above. We consider a transaction to be in “Good Order” if it complies with our administrative procedures and all relevant laws and regulations, and the required information is complete and correct. Good Order means the actual receipt by us of instructions relating to the requested transaction in writing (or, if permitted, by telephone or electronically), along with all forms and other information or documentation necessary to complete the request. Faxed and e-mailed requests are not currently accepted.
1

Definitions
Accumulation UnitAn accounting unit we use to calculate the Variable Accumulation Value prior to the Annuity Commencement Date. Each Investment Division of the Separate Account has a distinct variable Accumulation Unit value.
Accumulation ValueThe sum of the Variable Accumulation Value, the Fixed Account Accumulation Value (if applicable), and the DCA Advantage Account Accumulation Value of a policy.
Adjusted Premium PaymentThe total dollar amount of premium payments made under the policy and allocated to the Investment Divisions reduced by any withdrawals and applicable surrender charges in excess of any gain in the policy.
Allocation OptionsThe Investment Divisions of the Separate Account, any available Asset Allocation Model and the Fixed Account.
Annuity Commencement DateThe date on which we are to make the first Income Payment under the policy, which cannot be later than the date you attain age 95.
Base Contract ChargeMortality and Expense Risk and Administrative Costs Charge (M&E Charge).
Business DayGenerally, any day on which the New York Stock Exchange (NYSE) is open for trading. Our Business Day ends at 4:00 p.m. Eastern Time or the close of regular trading of the NYSE, if earlier.
CodeThe Internal Revenue Code of 1986, as amended.
Fixed AccountAn account that is credited with a fixed interest rate which NYLIAC declares and is not part of the Separate Account. The benefits payable under the Fixed Account (including principal and interest) are payable from NYLIAC’s general account and are subject to the claims-paying ability of NYLIAC.
Fixed Account Accumulation ValueThe sum of premium payments and, if allowable, transfers allocated to the Fixed Account, plus interest credited on those premium payments and, if allowable, transfers, less any transfers and partial withdrawals from the Fixed Account, and less any surrender charges, policy service charges and rider charges assessed on and deducted from the Fixed Account.
FundA mutual fund that has multiple series or Portfolios.
Investment DivisionThe variable investment options available under the policy. Each Investment Division invests exclusively in shares of a specified Portfolio.
NYLIAC, we, our or usNew York Life Insurance and Annuity Corporation.
Owner (you, your)The individual(s) or entity(ies) designated as the Owner in the policy or as subsequently changed, who is entitled to exercise all rights under the policy.
Payment Year(s)With respect to any premium payment, the year(s) beginning on the date such premium payment is made to the policy.
Policy AnniversaryAn anniversary of the Policy Date shown on the Policy Data Page.
Policy Data PagePage 2 of the policy which contains the policy specifications.
Policy YearA year starting on the Policy Date. Subsequent Policy Years begin on each Policy Anniversary, unless otherwise indicated.
PortfoliosThe mutual fund portfolios in which the corresponding Investment Divisions invest.
Separate AccountNYLIAC Variable Annuity Separate Account–III and NYLIAC Variable Annuity Separate Account–IV, a segregated asset account we established to receive and invest premium payments paid under the policies. The Separate Account’s Investment Divisions, in turn, purchase shares of Portfolios.
Surrender Charge Free AmountYou may withdraw a certain amount from your policy each Policy Year without having to pay a surrender charge on that amount. We call this the Surrender Charge Free Amount. The maximum amount you may withdraw without a surrender charge in any given Policy Year is the greatest of either: (i) 10% of
2

your Accumulation Value as of the last Policy Anniversary (10% of the premium payment if the withdrawal is made in the first Policy Year) less any prior surrender charge free withdrawals during the Policy Year; (ii) 10% of your Accumulation Value at the time of withdrawal, less any prior surrender charge free withdrawals during the Policy Year; or (iii) your Accumulation Value less accumulated premium payments.
Variable Accumulation ValueThe sum of the current Accumulation Unit value(s) for each of the Investment Divisions multiplied by the number of Accumulation Units held in the respective Investment Division.
3

Updated Information About Your Policy
The Information in this Updating Summary Prospectus is a summary of certain policy features that have
changed since May 1, 2023. This may not reflect all changes that have occurred since you purchased your
policy.
Change of Express Mailing
Address
A new mailing address is provided for mailing subsequent premium payments and, if
applicable, loan repayments.
The following Portfolios
are added as available
Investment Divisions
under the policy
American Funds IS Capital World Bond Fund®—Class 4
American Funds IS U.S. Government Securities Fund®—Class 4
Fidelity® VIP Extended Market Index Portfolio—Service Class 2
PIMCO VIT Short-Term Portfolio—Advisor Class
Principal VC Real Estate Securities Account—Class 2
Putnam VT International Value Fund—Class IB
Voya Growth and Income Portfolio—Class S
The names of the
following Portfolios have
been changed:
MainStay VP Hedge Multi-Strategy (formerly known as MainStay VP IQ Hedge
Multi-Strategy)
Mainstay VP MacKay U.S. Infrastructure Bond (formerly known as MainStay VP
MacKay Government)
MainStay VP PineStone International Equity (formerly known as MainStay VP
MacKay International Equity)
Macquarie VIP Small Cap Value Series (formerly known as Delaware VIP® Small
Cap Value Series)
Portfolio Performance and
Expenses
For updated Portfolio performance and expense information, see the Appendix for the
Portfolios Available Under the Policy.
4

Important Information You Should Consider About The Policy
 
FEES AND EXPENSES
LOCATION IN
PROSPECTUS
Charges for Early
Withdrawal
If you withdraw more than the Surrender Charge Free Amount within
the first nine Policy Years, you will be assessed a surrender charge.
The maximum surrender charge is 7% of the amount withdrawn during
the first three Policy Years, declining to 0% over that nine-year period.
For example, if you make an early withdrawal within the first three
Policy Years, you could pay a surrender charge of up to $7,000 on a
$100,000 investment.
CHARGES AND
DEDUCTIONS –
Transaction
Expenses
–Surrender
Charges
Transaction
Charges
We reserve the right to assess a transaction charge if you transfer cash
value between investment options more than 12 times a year, or if a
premium payment is returned for insufficient funds. A loan processing
fee may apply if you take a policy loan. Although we do not currently
charge for such transactions, we reserve the right to charge up to $30
per transaction.
CHARGES AND
DEDUCTIONS
–Transaction
Expenses
Ongoing Fees
and Expenses
(annual charges)
The table below describes the fees and expenses that you may pay
each year, depending on the options you choose. Please refer to your
Policy Data Page for information about the specific fees you will pay
each year based on the options you have elected.
CHARGES AND
DEDUCTIONS
-Annual Policy
Expenses; Annual
Portfolio Expenses;
Optional Benefit
Expenses
 
ANNUAL FEE
MINIMUM
MAXIMUM
 
Base contract1
1.40%
1.60%
CHARGES AND
DEDUCTIONS –
Annual Policy
Expenses
 
Investment options (Portfolio fees
and expenses)2
0.38%
1.42%
CHARGES AND
DEDUCTIONS –
Annual Portfolio
Expenses
 
Optional benefits available for an
additional charge (for a single
optional benefit, if elected)3
0.30%
0.35%
CHARGES AND
DEDUCTIONS –
Optional Benefit
Expenses
 
1 As an annualized percentage of daily Variable Accumulation Value
(Minimum Base Contract Charge) and as a percentage of Adjusted
Premium Payments (Maximum Base Contract Charge).
2 As a percentage of average net Portfolio assets. The range in fees
and expenses is for the year ended December 31, 2023 and will
change from year to year.
3 As a percentage of the ADBR Reset Value.
 
5

 
Because your policy is customizable, the choices you make affect how
much you will pay. To help you understand the cost of owning your
policy, the following table shows the lowest and highest cost you could
pay each year, based on current charges. This estimate assumes that
you do not take withdrawals from the policy, which could add
surrender charges that substantially increase costs.
 
 
LOWEST ANNUAL COST:
$1,643.98
HIGHEST ANNUAL COST
$2,988.30
 
 
Assumes:
Investment of $100,000
5% annual appreciation
Least expensive combination of
Base Contract Charges and
Portfolio fees and expenses
No optional benefits
No sales charges
No additional purchase
payments, transfers or
withdrawals
Assumes:
Investment of $100,000
5% annual appreciation
Most expensive combination of
Base Contract Charges,
optional benefits, and Portfolio
fees and expenses
No sales charges
No additional purchase
payments, transfers or
withdrawals
 
 
RISKS
LOCATION IN
PROSPECTUS
Risk of Loss
You can lose money by investing in this policy.
PRINCIPAL RISKS
Not a Short-Term
Investment
This policy is not designed for short-term investing and is not
appropriate for an investor who readily needs access to cash.
Surrender charges apply for up to the first nine Policy Years. They will
reduce the value of your policy if you withdraw money during that time.
The benefits of tax deferral and living benefit protections also mean the
policy is more beneficial to investors with a long time horizon.
PRINCIPAL RISKS
Risks Associated
with Investment
Options
An investment in this policy is subject to the risk of poor investment
performance and can vary depending on the performance of the
variable investment options (e.g., Portfolios) and guaranteed options
(e.g., the Fixed Account) you choose.
Each investment option has its own unique risks.
You should review the prospectuses for the available Portfolios before
making an investment decision.
PRINCIPAL RISKS
Insurance
Company
Risks
An investment in the policy is subject to the risks related to NYLIAC,
including that any obligations, guarantees, and benefits of the policy
are subject to the claims-paying ability of NYLIAC. If NYLIAC
experiences financial distress, it may not be able to meet its obligations
to you. More information about NYLIAC is available upon request from
NYLIAC by calling the VPSC at 1-800-598-2019.
PRINCIPAL RISKS
6

 
RESTRICTIONS
LOCATION IN
PROSPECTUS
Investments
We limit the number of Investment Divisions you may choose. You
may allocate premium payments to up to 18 separate Investment
Divisions, plus the Fixed Account, some of which may not be
available under your policy.
We reserve the right to charge $30 for each transfer when you
transfer money between Investment Divisions in excess of 12 times in
a Policy Year.
We reserve the right to limit transfers in circumstances of frequent
transfers or to prevent market timing.
We reserve the right to remove, close, or substitute Portfolios as
investment options that are available under the policy.
THE
POLICIES—Policy
Application and
Premium Payments,
Transfers, and
Limits on Transfers
NYLIAC AND THE
SEPARATE
ACCOUNTS—
Additions,
Deletions, or
Substitutions of
Investments
Optional Benefits
Some optional benefits cannot be cancelled without surrendering
your policy.
Certain optional benefits may limit withdrawals or other rights under
the policy.
Under certain benefits, a withdrawal could reduce the value of a
benefit by more than the dollar amount of the withdrawal.
You are required to have a minimum Accumulation Value for some
optional benefits.
We may modify or discontinue an optional benefit at any time.
Some optional benefits cannot be cancelled without surrendering
your policy.
DESCRIPTION OF
BENEFITS
 
TAXES
LOCATION IN
PROSPECTUS
Tax
Implications
Consult with a tax professional to determine the tax implications of
an investment in, withdrawals from and surrenders of this policy.
If you purchase the policy through a tax-qualified plan or individual
retirement account (IRA), such plan or IRA already provides tax
deferral under the Code and there are fees and charges in an annuity
that may not be included in such other investments. Therefore, the
tax deferral of the annuity does not provide additional benefits.
Premiums that are made on a pre-tax basis as well as earnings on
your policy are taxed at ordinary income tax rates when you withdraw
them, and you may have to pay a 10% penalty tax if you take a
withdrawal before age 59½.
FEDERAL TAX
MATTERS
 
CONFLICTS OF INTEREST
LOCATION IN
PROSPECTUS
Investment
Professional
Compensation
Your registered representative may receive compensation for selling
this policy to you, in the form of commissions, asset-based
compensation, allowances for expenses, and other compensation
programs. Your registered representative may have a financial incentive
to offer or recommend this policy over another investment.
DISTRIBUTION AND
COMPENSATION
ARRANGEMENTS
7

Exchanges
Your registered representative may have a financial incentive to offer
you a new policy in place of the one you own. You should consider
exchanging your policy if you determine, after comparing the features,
fees, and risks of both policies, that it is in your best interest to
purchase the new policy rather than continue to own your existing
policy.
THE POLICIES –
Tax-Free
Section 1035
Exchanges
8

Appendix 1
Portfolios Available Under the Policy
The following is a list of Portfolios available under the policy, which is subject to change, as discussed in the prospectus. You can find the prospectuses and other information about the Portfolios online at https://dfinview.com/NewYorkLife/TAHD/flex-ii. You can also request this information at no cost by calling the VPSC at 1-800-598-2019 or by sending an email request with your name and mailing address to FlexIIProspectus@newyorklife.com.
You may allocate your premium payments or other Accumulation Value to up to 18 different Investment Divisions at any one time in addition to the Fixed Account.
The current expenses and performance information below reflects fees and expenses of the Portfolios but does not reflect the other fees and expenses that your policy may charge. Expenses would be higher and performance would be lower if these charges were included. Each Portfolio’s past performance is not necessarily an indication of future performance.
Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Large Cap Equity
MainStay VP American Century Sustainable
Equity — Service Class
Adviser: New York Life Investment Management
LLC (“New York Life Investments”) /
Subadviser: American Century Investment
Management, Inc.
0.92%
24.08%
12.66%
8.46%
Asset Allocation
MainStay VP Balanced — Service Class
Adviser: New York Life Investments /
Subadviser: NYL Investors LLC (“NYL
Investors”) and Wellington Management
Company LLP (“Wellington”)
0.95%
7.28%
8.15%
5.90%
Investment
Grade Bond
MainStay VP Bond — Service Class
Adviser: New York Life Investments /
Subadviser: NYL Investors
0.77%
5.31%
0.71%
1.45%
International/Global
Equity
MainStay VP Candriam Emerging Markets
Equity — Service Class+
Adviser: New York Life Investments /
Subadviser: Candriam
1.39%
6.98%
2.24%
(0.17)%
Sector
MainStay VP CBRE Global Infrastructure —
Service Class
Adviser: New York Life Investments /
Subadviser: CBRE Investment Management
Listed Real Assets LLC
1.20%
3.80%
0.46%
(2.84)%
Asset Allocation
MainStay VP Conservative Allocation — Service
Class
Adviser: New York Life Investments
0.73%
10.02%
5.38%
3.82%
Appendix 1-1

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Large Cap Equity
MainStay VP Epoch U.S. Equity Yield — Service
Class
Adviser: New York Life Investments /
Subadviser: Epoch Investment Partners, Inc.
(“Epoch”)
0.93%
8.42%
9.82%
6.91%
Asset Allocation
MainStay VP Equity Allocation — Service Class
Adviser: New York Life Investments
0.86%
17.10%
10.45%
6.62%
Sector
MainStay VP Fidelity Institutional AM®
Utilities — Service Class
Adviser: New York Life Investments /
Subadviser: FIAM LLC (“FIAM”)
0.92%
(1.71)%
8.14%
6.15%
Non-Investment
Grade Bond
MainStay VP Floating Rate — Service Class
Adviser: New York Life Investments /
Subadviser: NYL Investors
0.89%
11.58%
4.69%
3.54%
Asset Allocation
MainStay VP Growth Allocation — Service
Class
Adviser: New York Life Investments
0.82%
15.20%
9.20%
5.96%
Alternatives
MainStay VP Hedge Multi-Strategy (formerly
MainStay VP IQ Hedge Multi-Strategy) —
Service Class
Adviser: New York Life Investments /
Subadviser: IndexIQ Advisors LLC (“IndexIQ”)
1.32%
9.98%
2.53%
(1.67)%
Asset Allocation
MainStay VP Income Builder — Service Class
Adviser: New York Life Investments /
Subadvisers: Epoch and MacKay Shields LLC
(“MacKay”)
0.87%
9.78%
5.78%
4.75%
Asset Allocation
MainStay VP Janus Henderson Balanced —
Service Class
Adviser: New York Life Investments /
Subadviser: Janus Henderson Investors US LLC
(“Janus Henderson”)
0.82%
15.23%
9.48%
7.78%
Non-Investment
Grade Bond
MainStay VP MacKay Convertible — Service
Class
Adviser: New York Life Investments /
Subadviser: MacKay
0.83%
8.58%
11.31%
8.23%
Appendix 1-2

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Non-Investment
Grade Bond
MainStay VP MacKay High Yield Corporate
Bond — Service Class
Adviser: New York Life Investments /
Subadviser: MacKay
0.83%
11.59%
5.04%
4.47%
Non-Investment
Grade Bond
MainStay VP MacKay Strategic Bond — Service
Class
Adviser: New York Life Investments /
Subadviser: MacKay
0.87%
9.92%
3.18%
2.49%
Investment
Grade Bond
MainStay VP MacKay U.S. Infrastructure Bond
(formerly MainStay VP MacKay Government) —
Service Class
Adviser: New York Life Investments /
Subadviser: MacKay
0.81%
4.74%
0.05%
0.72%
Asset Allocation
MainStay VP Moderate Allocation — Service
Class
Adviser: New York Life Investments
0.76%
12.73%
7.20%
4.90%
Sector
MainStay VP Natural Resources — Initial Class
Adviser: New York Life Investments /
Subadviser: Newton Investment Management
North America, LLC ("NIMNA")
0.84%
1.92%
18.96%
2.79%
Investment
Grade Bond
MainStay VP PIMCO Real Return — Service
Class
Adviser: New York Life Investments /
Subadviser: Pacific Investment Management
Company LLC (“PIMCO”)
1.03%
3.46%
3.08%
2.01%
International/Global
Equity
MainStay VP PineStone International Equity
(formerly MainStay VP MacKay International
Equity) — Service Class
Adviser: New York Life Investments /
Subadviser: PineStone Asset Management Inc.
1.11%
4.01%
5.10%
3.85%
Large Cap Equity
MainStay VP S&P 500 Index — Service Class
Adviser: New York Life Investments /
Subadviser: IndexIQ
0.37%
25.83%
15.25%
11.53%
Small/Mid Cap
Equity
MainStay VP Small Cap Growth — Service
Class
Adviser: New York Life Investments /
Subadvisers: Brown Advisory, LLC and Segall
Bryant & Hamill, LLC
1.10%
15.22%
10.29%
7.26%
Appendix 1-3

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Money Market
MainStay VP U.S. Government Money Market —
Initial Class
Adviser: New York Life Investments /
Subadviser: NYL Investors
0.28%
4.81%
1.61%
0.99%
Large Cap Equity
MainStay VP Wellington Growth — Service
Class+
Adviser: New York Life Investments /
Subadviser: Wellington
0.97%
38.26%
13.51%
10.05%
Small/Mid Cap
Equity
MainStay VP Wellington Mid Cap — Service
Class
Adviser: New York Life Investments /
Subadviser: Wellington
1.11%
13.41%
7.93%
6.39%
Small/Mid Cap
Equity
MainStay VP Wellington Small Cap — Service
Class
Adviser: New York Life Investments /
Subadviser: Wellington
0.99%
13.60%
6.42%
5.99%
Large Cap Equity
MainStay VP Wellington U.S. Equity — Service
Class
Adviser: New York Life Investments /
Subadviser: Wellington
0.81%
24.27%
12.88%
10.19%
Large Cap Equity
MainStay VP Winslow Large Cap Growth —
Service Class
Adviser: New York Life Investments
/ Subadviser: Winslow Capital Management,
LLC
0.99%
42.70%
17.29%
13.18%
Large Cap Equity
AB VPS Relative Value Portfolio — Class B
Adviser: AllianceBernstein L.P.
0.86%
11.72%
11.57%
9.05%
Asset Allocation
American Funds IS Asset Allocation Fund
Class 4
Adviser: Capital Research and Management
CompanySM (“CRMC”)
0.80%
14.02%
8.92%
6.98%
Investment Grade
Bond
American Funds IS The Bond Fund of America®
— Class 4
Adviser: CRMC
0.73%
4.72%
1.62%
1.83%
Investment
Grade Bond
American Funds IS Capital World Bond Fund®
— Class 4
Adviser: CRMC
0.98%
5.89%
(0.56)%
0.12%
Appendix 1-4

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
International/Global
Equity
American Funds IS Global Small Capitalization
Fund — Class 4
Adviser: CRMC
1.16%
15.79%
8.03%
5.51%
Large Cap Equity
American Funds IS Growth Fund — Class 4
Adviser: CRMC
0.84%
38.13%
18.38%
14.07%
International/Global
Equity
American Funds IS New World Fund® — Class
4
Adviser: CRMC
1.07%
15.67%
8.37%
4.43%
Investment
Grade Bond
American Funds IS U.S. Government Securities
Fund® — Class 4
Adviser: CRMC
0.76%
2.62%
0.79%
1.27%
Large Cap Equity
American Funds IS Washington Mutual Investors
FundSM — Class 4
Adviser: CRMC
0.77%
16.97%
12.33%
9.64%
Asset Allocation
BlackRock® Global Allocation V.I. Fund — Class
III
Adviser: BlackRock Advisors, LLC (“BlackRock”)
/ Subadvisers: BlackRock (Singapore) Limited
and BlackRock International Limited
1.02%
12.49%
7.39%
4.63%
Non-Investment
Grade Bond
BlackRock® High Yield V.I. Fund — Class III
Adviser: BlackRock / Subadviser: BlackRock
International Limited
0.79%
12.94%
5.49%
4.21%
Sector
BNY Mellon IP Technology Growth Portfolio —
Service Shares
Adviser: BNY Mellon Investment Adviser, Inc. /
Subadviser: NIMNA
1.03%
59.00%
15.31%
12.94%
Large Cap Equity
BNY Mellon Sustainable U.S. Equity Portfolio —
Service Shares
Adviser: BNY Mellon Investment Adviser, Inc. /
Subadviser: Newton Investment Management
Limited
0.92%
23.50%
14.85%
10.18%
Large Cap Equity
ClearBridge Variable Appreciation Portfolio —
Class II
Adviser: Franklin Templeton Fund Adviser, LLC
("FTFA") / Subadviser: ClearBridge Investments,
LLC
0.97%
19.39%
13.79%
N/A
Appendix 1-5

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Sector
Columbia Variable Portfolio — Commodity
Strategy Fund — Class 2++
Adviser: Columbia Management Investment
Advisers, LLC (“Columbia”) / Subadviser:
Threadneedle International Limited
1.01%
(7.14)%
9.08%
(0.97)%
Non-Investment
Grade Bond
Columbia Variable Portfolio — Emerging
Markets Bond Fund — Class 2
Adviser: Columbia
1.00%
10.02%
1.57%
2.20%
Investment Grade
Bond
Columbia Variable Portfolio — Intermediate
Bond Fund — Class 2
Adviser: Columbia
0.76%
5.96%
1.34%
1.99%
Small/Mid Cap
Equity
Columbia Variable Portfolio — Small Cap Value
Fund — Class 2
Adviser: Columbia
1.11%
21.67%
13.39%
8.40%
Alternatives
DWS Alternative Asset Allocation VIP — Class
B
Adviser: DWS Investment Management
Americas Inc. / Subadviser: RREEF America
LLC
1.21%
5.67%
5.70%
2.63%
Investment
Grade Bond
Fidelity® VIP Bond Index Portfolio — Service
Class 2
Adviser: Fidelity Management & Research
Company LLC (“FMR”) / Subadvisers: Other
investment advisers
0.39%
5.13%
0.64%
N/A
Large Cap Equity
Fidelity® VIP ContrafundSM Portfolio — Service
Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
0.81%
33.12%
16.36%
11.33%
International/Global
Equity
Fidelity® VIP Emerging Markets Portfolio —
Service Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
1.14%
9.49%
7.55%
4.92%
Large Cap Equity
Fidelity® VIP Equity-Income PortfolioSM
Service Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
0.72%
10.38%
12.01%
8.31%
Appendix 1-6

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Small/Mid Cap
Equity
Fidelity® VIP Extended Market Index Portfolio —
Service Class 2
Adviser: FMR / Subadviser: Geode Capital
Management, LLC (“Geode”)
0.38%
17.11%
11.02%
N/A
Asset Allocation
Fidelity® VIP FundsManager® 60% Portfolio —
Service Class
Adviser: FMR
0.71%
14.17%
8.61%
6.26%
Large Cap Equity
Fidelity® VIP Growth Opportunities Portfolio —
Service Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
0.84%
45.30%
18.79%
15.44%
Sector
Fidelity® VIP Health Care Portfolio — Service
Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
0.84%
4.01%
9.50%
10.39%
International/Global
Equity
Fidelity® VIP International Index Portfolio —
Service Class 2
Adviser: FMR / Subadviser: Geode
0.42%
15.88%
6.89%
N/A
Investment Grade
Bond
Fidelity® VIP Investment Grade Bond
Portfolio — Service Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
0.63%
6.00%
1.72%
2.08%
Small/Mid Cap
Equity
Fidelity® VIP Mid Cap Portfolio — Service Class
2
Adviser: FMR / Subadvisers: Other investment
advisers
0.82%
14.80%
12.17%
7.85%
Asset Allocation
Franklin Templeton Aggressive Model
Portfolio — Class II
Adviser: FTFA / Subadviser: Franklin Advisers,
Inc. (“Franklin Advisers”)
0.91%
18.05%
N/A
N/A
Asset Allocation
Franklin Templeton Moderately Aggressive
Model Portfolio — Class II
Adviser: FTFA / Subadviser: Franklin Advisers
0.88%
15.53%
N/A
N/A
Asset Allocation
Franklin Templeton Moderate Model Portfolio —
Class II
Adviser: FTFA / Subadviser: Franklin Advisers
0.85%
13.18%
N/A
N/A
Appendix 1-7

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Asset Allocation
Franklin Templeton Moderately Conservative
Model Portfolio — Class II
Adviser: FTFA / Subadviser: Franklin Advisers
0.85%
10.31%
N/A
N/A
Asset Allocation
Franklin Templeton Conservative Model
Portfolio — Class II
Adviser: FTFA / Subadviser: Franklin Advisers
0.89%
8.31%
N/A
N/A
International/Global
Equity
Invesco V.I. EQV International Equity Fund —
Series II Shares
Adviser: Invesco Advisers, Inc. (“Invesco”)
1.15%
17.86%
8.15%
4.07%
Small/Mid Cap
Equity
Invesco V.I. Main Street Small Cap Fund®
Series II Shares
Adviser: Invesco
1.13%
17.82%
12.79%
8.66%
Small/Mid Cap
Equity
Janus Henderson Enterprise Portfolio — Service
Shares
Adviser: Janus Henderson
0.97%
17.78%
13.14%
11.82%
International/Global
Equity
Janus Henderson Global Research Portfolio —
Service Shares
Adviser: Janus Henderson
0.86%
26.47%
13.05%
8.74%
Small/Mid Cap
Equity
Macquarie VIP Small Cap Value Series
(formerly Delaware VIP® Small Cap Value
Series) — Service Class
Adviser: Delaware Management Company, a
series of Macquarie Investment Management
Business Trust (a Delaware statutory trust)
1.08%
9.10%
9.87%
6.77%
International Equity
MFS® International Intrinsic Value Portfolio —
Service Class
Adviser: Massachusetts Financial Services
Company (“MFS”)
1.14%
17.37%
8.31%
6.66%
Large Cap Equity
MFS® Investors Trust Series — Service Class
Adviser: MFS
1.03%
18.66%
13.27%
10.00%
Mid Cap
Equity
MFS® Mid Cap Value Portfolio — Service Class
Adviser: MFS
1.04%
12.39%
12.60%
8.46%
International/Global
Equity
MFS® Research International Portfolio —
Service Class
Adviser: MFS
1.14%
12.83%
8.23%
3.89%
Appendix 1-8

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Large Cap Equity
MFS® Research Series — Service Class
Adviser: MFS
1.04%
22.12%
14.13%
10.55%
Sector
Morgan Stanley VIF U.S. Real Estate Portfolio —
Class II
Adviser: Morgan Stanley Investment
Management Inc.
1.05%
14.22%
2.66%
4.26%
Small/Mid Cap
Equity
Neuberger Berman AMT Mid Cap Growth
Portfolio — Class S
Adviser: Neuberger Berman Investment
Advisers LLC
1.11%
17.96%
11.86%
8.69%
Investment
Grade Bond
PIMCO VIT Income Portfolio — Advisor Class
Adviser: PIMCO
1.13%
8.14%
3.22%
N/A
Investment
Grade Bond
PIMCO VIT International Bond Portfolio (U.S.
Dollar-Hedged) — Advisor Class
Adviser: PIMCO
1.38%
8.91%
1.54%
N/A
Investment
Grade Bond
PIMCO VIT Low Duration Portfolio — Advisor
Class
Adviser: PIMCO
0.79%
4.87%
0.88%
0.82%
Investment
Grade Bond
PIMCO VIT Short-Term Portfolio — Advisor
Class
Adviser: PIMCO
0.76%
5.80%
2.02%
1.76%
Investment
Grade Bond
PIMCO VIT Total Return Portfolio — Advisor
Class
Adviser: PIMCO
0.85%
5.83%
0.98%
1.60%
Sector
Principal VC Real Estate Securities Account —
Class 2
Adviser: Principal Global Investors, LLC /
Subadviser: Principal Real Estate Investors, LLC
1.04%
13.01%
8.24%
8.44%
International/Global
Equity
Putnam VT International Value Fund — Class IB
Adviser: Putnam Investment Management, LLC /
Subadvisers: Putnam Investments Limited and
The Putnam Advisory Company, LLC
1.13%
18.68%
9.70%
3.88%
Large Cap Equity
Voya Growth and Income Portfolio — Class S
Adviser: Voya Investments, LLC / Subadviser:
Voya Investment Management Co. LLC
0.92%
27.06%
15.90%
11.02%
Appendix 1-9

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Investment
Grade Bond
Western Asset Core Plus VIT Portfolio — Class
II
Adviser: FTFA / Subadvisers: Western Asset
Management Company, LLC; Western Asset
Management Company Limited in London;
Western Asset Management Company Pte. Ltd.
in Singapore; and Western Asset Management
Company Ltd. in Japan
0.76%
6.44%
0.98%
N/A
*
Current Expenses take into account expense reimbursement or fee waiver arrangements in place that are generally expected to continue through April 30, 2025 and may be terminated at any time thereafter at the option of the Fund. Annual expenses for the Portfolio for the year ended December 31, 2023 reflect temporary fee reductions under such an arrangement.
+
Closed for policyowners who were not invested in the Investment Division on November 13, 2017, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after November 13, 2017.
++
Closed for policyowners who were not invested in the Investment Division on November 23, 2020, and closed for other policyowners if all your Accumulation Value is removed from the Investment Division on or after November 23, 2020.
Appendix 1-10

This Summary Prospectus incorporates by reference the New York Life Flexible Premium Variable Annuity II full statutory prospectus and the Statement of Additional Information (SAI), both dated May 1, 2024, as amended or supplemented. The full statutory prospectus and the SAI are posted on our website, https://dfinview.com/NewYorkLife/TAHD/flex-ii. The full prospectus and SAI for the policy may be obtained, free of charge, in any manner shown on the front page of this Summary Prospectus.
Reports and other information about the Separate Accounts are available on the SEC’s website at https://www.sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.
Separate Account III EDGAR contract identifier #C000099458

Separate Account IV EDGAR contract identifier #C000099457


UPDATING SUMMARY PROSPECTUS FOR EXISTING INVESTORS
May 1, 2024
New York Life Flexible Premium Variable Annuity III
From
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
Issued through
NYLIAC Variable Annuity Separate Account-III
NYLIAC Variable Annuity Separate Account-IV
This summary prospectus summarizes key features of the New York Life Flexible Premium Variable Annuity III policies.
Before you invest, you should review the prospectus for the New York Life Flexible Premium Variable Annuity III policies, which contains more information about the policy’s features, benefits, and risks. You can find this document and other information about the contract online at https://dfinview.com/NewYorkLife/TAHD/flex-iii. You can also obtain this information at no cost by calling our Variable Products Service Center at 1-800-598-2019 or by sending an email request with your name and mailing address to FlexIIIProspectus@newyorklife.com.
You can sign up for electronic delivery of your summary prospectus, updates to the summary prospectus or other communications by logging into your account at www.newyorklife.com. If you sign up for electronic delivery, we will apply a one-time $30 e-delivery credit to your Accumulation Value in accordance with your allocation instructions in the Policy Year in which you register. 
Additional information about certain investment products, including variable annuities, has been prepared by the SEC’s staff and is available at www.Investor.gov. The Securities and Exchange Commission (“SEC”) has not approved or disapproved of this security or passed upon the accuracy or adequacy of this summary prospectus. Any representation to the contrary is a criminal offense. The policies involve risks, including potential loss of principal invested. Policies are not deposits of, or guaranteed or endorsed by, any bank and are not federally insured by the FDIC, Federal Reserve Board, or any other agency.

Table of Contents
 
Page
1
2
3
4
1
-1
i

Contacting NYLIAC
Certain service requests, including but not limited to, death benefit claims and surrenders, are required to be in writing. All written service requests (except for subsequent premium payments and loan repayments) must be sent to the NYLIAC Variable Products Service Center (VPSC) at one of the following addresses:
 
Regular Mail
Express Mail
All written service
requests (except for
payments)
NYLIAC Variable Products Service Center
Madison Square Station
P.O. Box 922
New York, NY 10159
NYLIAC Variable Products Service Center
51 Madison Avenue
Floor 3B, Room 0304
New York, NY 10010
Death Claim forms may
also be submitted to
Regular Mail
 
New York Life
P.O. Box 130539
Dallas, TX 75313–0539
 
Premium payments and loan repayments should be sent to the VPSC at one of the following addresses (acceptance of subsequent premium payments is subject to the sales standards we use to evaluate whether a recommended transaction related to your policy complies with applicable standards of conduct):
 
Regular Mail
Express Mail
Premium Payments and
Loan Repayments
NYLIAC
75 Remittance Drive
Suite 3021
Chicago, IL 60675–3021
NYLIAC
5450 N Cumberland Avenue
Suite 100
Chicago, IL 60656-1422
Written service requests will be effective as of the Business Day they are received in Good Order at our service center at one of the addresses listed above. We consider a transaction to be in “Good Order” if it complies with our administrative procedures and all relevant laws and regulations, and the required information is complete and correct. Good Order means the actual receipt by us of instructions relating to the requested transaction in writing (or, if permitted, by telephone or electronically), along with all forms and other information or documentation necessary to complete the request. Faxed and e-mailed requests are not currently accepted.
1

Definitions
Accumulation UnitAn accounting unit we use to calculate the Variable Accumulation Value prior to the Annuity Commencement Date. Each Investment Division of the Separate Account has a distinct variable Accumulation Unit value.
Accumulation ValueThe sum of the Variable Accumulation Value, the Fixed Account Accumulation Value (if applicable), and the DCA Advantage Account Accumulation Value of a policy.
Dollar Cost Averaging (DCA) Advantage Account Accumulation ValueThe sum of premium payments allocated to the DCA Advantage Account, plus interest credited on those premium payments, less any transfers and partial withdrawals from the DCA Advantage Account, and less any surrender charges, policy service charges and rider charges deducted from the DCA Advantage Account. The DCA Advantage Account Accumulation Value will never be less than the DCA Advantage Account portion of the Nonforfeiture Value.
Dollar Cost Averaging (DCA) Advantage AccountAn non-variable Allocation Option to which you may allocate Premium Payments, subject to the limitations described on the Policy Data Page, and from which amounts are transferred to the Investment Divisions proportionally on a monthly basis. The DCA Advantage Account duration is shown on the Policy Data Page. We credit the DCA Advantage Account with a fixed interest rate. The benefits payable under the DCA Advantage Account (including principal and interest) are payable from NYLIAC’s general account and are subject to the claims-paying ability of NYLIAC.
Fixed AccountAn account that is credited with a fixed interest rate which NYLIAC declares and is not part of the Separate Account. The benefits payable under the Fixed Account (including principal and interest) are payable from NYLIAC’s general account and are subject to the claims-paying ability of NYLIAC.
Fixed Account Accumulation ValueThe sum of premium payments and, if allowable, transfers allocated to the Fixed Account, plus interest credited on those premium payments and, if allowable, transfers, less any transfers and partial withdrawals from the Fixed Account, and less any surrender charges, policy service charges and rider charges assessed on and deducted from the Fixed Account. The Fixed Account Accumulation Value will never be less than the Fixed Account portion of the Nonforfeiture Value.
FundA mutual fund that has multiple series or Portfolios.
Investment DivisionThe variable investment options available under the policy. Each Investment Division invests exclusively in shares of a specified Portfolio.
NYLIAC, we, our or usNew York Life Insurance and Annuity Corporation.
Owner (you, your)The individual(s) or entity(ies) designated as the Owner in the policy, or as subsequently changed after issue, who is entitled to exercise all rights under the policy.
Policy AnniversaryAn anniversary of the Policy Date shown on the Policy Data Page.
Policy YearA year starting on the Policy Date. Subsequent Policy Years begin on each Policy Anniversary, unless otherwise indicated.
Portfolios The mutual fund portfolios in which the corresponding Investment Divisions invest.
Separate AccountNYLIAC Variable Annuity Separate Account–III or NYLIAC Variable Annuity Separate Account–IV, each a segregated asset account we established to receive and invest premium payments paid under the policies. The Separate Account’s Investment Divisions, in turn, purchase shares of Portfolios.
Surrender Charge Free AmountYou may withdraw a certain amount from your policy each Policy Year without having to pay a surrender charge on that amount. We call this the Surrender Charge Free Amount.
Variable Accumulation ValueThe sum of the current Accumulation Unit value(s) for each of the Investment Divisions multiplied by the number of Accumulation Units held in the respective Investment Division.
2

Updated Information About Your Policy
The Information in this Updating Summary Prospectus is a summary of certain policy features that have
changed since May 1, 2023. This may not reflect all changes that have occurred since you purchased your
policy.
Change of Express Mailing
Address
A new mailing address is provided for mailing subsequent premium payments and, if
applicable, loan repayments.
The following Portfolios
are added as available
Investment Divisions
under the policy
American Funds IS Capital World Bond Fund®—Class 4
American Funds IS U.S. Government Securities Fund®—Class 4
Fidelity® VIP Extended Market Index Portfolio—Service Class 2
PIMCO VIT Short-Term Portfolio—Advisor Class
Principal VC Real Estate Securities Account—Class 2
Putnam VT International Value Fund—Class IB
Voya Growth and Income Portfolio—Class S
The names of the
following Portfolios have
been changed:
MainStay VP Hedge Multi-Strategy (formerly known as MainStay VP IQ Hedge
Multi-Strategy)
Mainstay VP MacKay U.S. Infrastructure Bond (formerly known as MainStay VP
MacKay Government)
MainStay VP PineStone International Equity (formerly known as MainStay VP
MacKay International Equity)
Macquarie VIP Small Cap Value Series (formerly known as Delaware VIP® Small
Cap Value Series)
Portfolio Performance and
Expenses
For updated Portfolio performance and expense information, see the Appendix for the
Portfolios Available Under the Policy.
3

Important Information You Should Consider About The Policy
 
FEES AND EXPENSES
LOCATION IN
PROSPECTUS
Charges for Early
Withdrawal
In most jurisdictions,* if you withdraw more than the Surrender Charge
Free Amount within the first nine Policy Years, you will be assessed a
surrender charge. The maximum surrender charge is 7% of the amount
withdrawn during the first three Policy Years, declining to 0% over that
nine-year period. For example, if you make an early withdrawal within
the first three Policy Years, you could pay a surrender charge of up to
$7,000 on a $100,000 investment. *Policies issued in New York with an
application date signed on or after November 13, 2023 are subject to a
different surrender charge schedule. For those New York policies, if you
withdraw more than the Surrender Charge Free Amount from your
policy within the first seven Policy Years, you will be assessed a
surrender charge. The maximum surrender charge is 8% of the amount
withdrawn during the first two Policy Years declining to 0% over that
seven-year period.
CHARGES AND
DEDUCTIONS –
Transaction
Expenses
–Surrender
Charges
Transaction
Charges
We reserve the right to assess a transaction charge if you transfer cash
value between investment options more than 12 times a year, or if a
premium payment is returned for insufficient funds. A loan processing
fee may apply if you take a policy loan. Although we do not currently
charge for such transactions, we reserve the right to charge up to $30
per transaction.
CHARGES AND
DEDUCTIONS
–Transaction
Expenses
Ongoing Fees
and Expenses
(annual charges)
The table below describes the fees and expenses that you may pay
each year, depending on the options you choose. Please refer to your
Policy Data Page for information about the specific fees you will pay
each year based on the options you have elected.
CHARGES AND
DEDUCTIONS
-Annual Policy
Expenses; Annual
Portfolio Expenses;
Optional Benefit
Expenses
 
ANNUAL FEE
(for policies applied for on or
after May 1, 2016)
MINIMUM
MAXIMUM
 
 
Base contract1
1.10%
1.40%
CHARGES AND
DEDUCTIONS –
Annual Policy
Expenses
 
Investment options (Portfolio fees
and expenses)2
0.38%
1.42%
CHARGES AND
DEDUCTIONS –
Annual Portfolio
Expenses
 
Optional benefits available for an
additional charge (for a single
optional benefit, if elected)3
0.25%
0.25%
CHARGES AND
DEDUCTIONS –
Optional Benefit
Expenses
4

 
1 As a percentage of Accumulation Value (Minimum Base Contract
Charge) and as a percentage of Adjusted Premium Payments
(Maximum Base Contract Charge).
2 As a percentage of average net Portfolio assets. The range in fees
and expenses is for the year ended December 31, 2023 and will
change from year to year.
3 As an annualized percentage of the ADBR Reset Value.
 
 
Because your policy is customizable, the choices you make affect how
much you will pay. To help you understand the cost of owning your
policy, the following table shows the lowest and highest cost you could
pay each year, based on current charges. This estimate assumes that
you do not take withdrawals from the policy, which could add
surrender charges that substantially increase costs.
 
 
LOWEST ANNUAL COST
$1,422.41
HIGHEST ANNUAL COST
$2,578.58
 
 
Assumes:
Investment of $100,000
5% annual appreciation
Least expensive combination of
Base Contract Charges and
Portfolio fees and expenses
No optional benefits
No sales charges
No additional purchase
payments, transfers or
withdrawals
Assumes:
Investment of $100,000
5% annual appreciation
Most expensive combination of
Base Contract Charges,
optional benefits, and Portfolio
fees and expenses
No sales charges
No additional purchase
payments, transfers or
withdrawals
 
 
ANNUAL FEE
(for policies applied for before
May 1, 2016)
MINIMUM
MAXIMUM
 
 
Base contract1
1.15%
1.55%
Charges and
Deductions –
Annual Policy
Expenses
 
Investment options (Portfolio fees
and expenses)2
0.38%
1.42%
Charges and
Deductions –
Annual Portfolio
Expenses
 
Optional benefits available for an
additional charge (for a single
optional benefit, if elected)3
0.30%
0.35%
Charges and
Deductions –
Optional Benefit
Expense
 
1 As a percentage of Accumulation Value (Minimum Base Contract
Charge) and as a percentage of Adjusted Premium Payments
(Maximum Base Contract Charge).
2 As a percentage of average net Portfolio assets. The range in fees
and expenses is for the year ended December 31, 2023 and will
change from year to year.
3 As an annualized percentage of the ADBR Reset Value.
 
5

 
Because your policy is customizable, the choices you make affect how
much you will pay. To help you understand the cost of owning your
policy, the following table shows the lowest and highest cost you could
pay each year, based on current charges. This estimate assumes that
you do not take withdrawals from the policy, which could add
surrender charges that substantially increase costs.
 
 
LOWEST ANNUAL COST
$1,584.26
HIGHEST ANNUAL COST
$2,707.88
 
 
Assumes:
Investment of $100,000
5% annual appreciation
Least expensive combination of
Base Contract Charges and
Portfolio fees and expenses
No optional benefits
No sales charges
No additional purchase
payments, transfers or
withdrawals
Assumes:
Investment of $100,000
5% annual appreciation
Most expensive combination of
Base Contract Charges,
optional benefits, and Portfolio
fees and expenses
No sales charges
No additional purchase
payments, transfers or
withdrawals
 
 
RISKS
LOCATION IN
PROSPECTUS
Risk of Loss
You can lose money by investing in this policy.
PRINCIPAL RISKS
Not a Short-Term
Investment
This policy is not designed for short-term investing and is not
appropriate for an investor who readily needs access to cash.
Surrender charges apply for up to the first nine Policy Years. They will
reduce the value of your policy if you withdraw money during that time.
The benefits of tax deferral and living benefit protections also mean the
policy is more beneficial to investors with a long time horizon.
PRINCIPAL RISKS
Risks Associated
with Investment
Options
An investment in this policy is subject to the risk of poor investment
performance and can vary depending on the performance of the
variable investment options (e.g., Portfolios) and guaranteed options
(e.g., the Fixed Account and DCA Advantage Account) you choose.
Each investment option has its own unique risks.
You should review the prospectuses for the available Portfolios and
the description in this prospectus of the Fixed Account and the DCA
Advantage Account before making an investment decision.
PRINCIPAL RISKS
Insurance
Company
Risks
An investment in the policy is subject to the risks related to NYLIAC,
including that any obligations, guarantees, and benefits of the policy
are subject to the claims-paying ability of NYLIAC. If NYLIAC
experiences financial distress, it may not be able to meet its obligations
to you. More information about NYLIAC is available upon request from
NYLIAC by calling the VPSC at 1-800-598-2019.
PRINCIPAL RISKS
6

 
RESTRICTIONS
LOCATION IN
PROSPECTUS
Investments
We limit the number of Investment Divisions you may choose. You
may allocate premium payments to up to 18 separate Investment
Divisions, plus the Fixed Account, some of which may not be
available under your policy.
We reserve the right to charge $30 for each transfer when you
transfer money between Investment Divisions in excess of 12 times in
a Policy Year.
We reserve the right to limit transfers in circumstances of frequent
transfers or to prevent market timing.
We reserve the right to remove, close, or substitute Portfolios as
investment options that are available under the policy.
THE
POLICIES—Policy
Application and
Premium Payments,
Transfers, and
Limits on Transfers
NYLIAC AND THE
SEPARATE
ACCOUNTS—
Additions,
Deletions, or
Substitutions of
Investments
Optional Benefits
Certain optional benefits may limit withdrawals or other rights under
the policy.
Under certain benefits, a withdrawal could reduce the value of a
benefit by more than the dollar amount of the withdrawal.
You are required to have a minimum Accumulation Value for some
optional benefits.
We may modify or discontinue an optional benefit at any time.
Some optional benefits cannot be cancelled without surrendering
your policy.
DESCRIPTION OF
BENEFITS
 
TAXES
LOCATION IN
PROSPECTUS
Tax
Implications
Consult with a tax professional to determine the tax implications of
an investment in, withdrawals from and surrenders of this policy.
If you purchase the policy through a tax-qualified plan or individual
retirement account (IRA), such plan or IRA already provides tax
deferral under the Code and there are fees and charges in an annuity
that may not be included in such other investments. Therefore, the
tax deferral of the annuity does not provide additional benefits.
Premiums that are made on a pre-tax basis as well as earnings on
your policy are taxed at ordinary income tax rates when you withdraw
them, and you may have to pay a 10% penalty tax if you take a
withdrawal before age 59½.
FEDERAL TAX
MATTERS
 
CONFLICTS OF INTEREST
LOCATION IN
PROSPECTUS
Investment
Professional
Compensation
Your registered representative may receive compensation for selling
this policy to you, in the form of commissions, asset-based
compensation, allowances for expenses, and other compensation
programs. Your registered representative may have a financial incentive
to offer or recommend this policy over another investment.
DISTRIBUTION AND
COMPENSATION
ARRANGEMENTS
7

Exchanges
Your registered representative may have a financial incentive to offer
you a new policy in place of the one you own. You should consider
exchanging your policy if you determine, after comparing the features,
fees, and risks of both policies, that it is in your best interest to
purchase the new policy rather than continue to own your existing
policy.
THE POLICIES –
Tax-Free
Section 1035
Exchanges
8

Appendix 1
Portfolios Available Under the Policy
The following is a list of Portfolios available under the policy, which is subject to change, as discussed in the prospectus. Depending on the optional benefits you choose, you may not be able to invest in certain Portfolios. You can find the prospectuses and other information about the Portfolios online at https://dfinview.com/NewYorkLife/TAHD/flex-iii. You can also request this information at no cost by calling the VPSC at 1-800-598-2019 or by sending an email request with your name and mailing address to FlexIIIProspectus@newyorklife.com.
You may allocate your premium payments or other Accumulation Value to up to 18 different Investment Divisions at any one time in addition to the Fixed Account or the DCA Advantage Account.
The current expenses and performance information below reflects fees and expenses of the Portfolios but does not reflect the other fees and expenses that your policy may charge. Expenses would be higher and performance would be lower if these charges were included. Each Portfolio’s past performance is not necessarily an indication of future performance.
Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Large Cap Equity
MainStay VP American Century Sustainable
Equity — Service Class
Adviser: New York Life Investment Management
LLC (“New York Life Investments”) /
Subadviser: American Century Investment
Management, Inc.
0.92%
24.08%
12.66%
8.46%
Asset Allocation
MainStay VP Balanced — Service Class
Adviser: New York Life Investments /
Subadviser: NYL Investors LLC (“NYL
Investors”) and Wellington Management
Company LLP (“Wellington”)
0.95%
7.28%
8.15%
5.90%
Investment
Grade Bond
MainStay VP Bond — Service Class
Adviser: New York Life Investments /
Subadviser: NYL Investors
0.77%
5.31%
0.71%
1.45%
International/Global
Equity
MainStay VP Candriam Emerging Markets
Equity — Service Class+
Adviser: New York Life Investments /
Subadviser: Candriam
1.39%
6.98%
2.24%
(0.17)%
Sector
MainStay VP CBRE Global Infrastructure —
Service Class
Adviser: New York Life Investments /
Subadviser: CBRE Investment Management
Listed Real Assets LLC
1.20%
3.80%
0.46%
(2.84)%
Asset Allocation
MainStay VP Conservative Allocation — Service
Class
Adviser: New York Life Investments
0.73%
10.02%
5.38%
3.82%
Appendix 1-1

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Large Cap Equity
MainStay VP Epoch U.S. Equity Yield — Service
Class
Adviser: New York Life Investments /
Subadviser: Epoch Investment Partners, Inc.
(“Epoch”)
0.93%
8.42%
9.82%
6.91%
Asset Allocation
MainStay VP Equity Allocation — Service Class
Adviser: New York Life Investments
0.86%
17.10%
10.45%
6.62%
Sector
MainStay VP Fidelity Institutional AM®
Utilities — Service Class
Adviser: New York Life Investments /
Subadviser: FIAM LLC (“FIAM”)
0.92%
(1.71)%
8.14%
6.15%
Non-Investment
Grade Bond
MainStay VP Floating Rate — Service Class
Adviser: New York Life Investments /
Subadviser: NYL Investors
0.89%
11.58%
4.69%
3.54%
Asset Allocation
MainStay VP Growth Allocation — Service
Class
Adviser: New York Life Investments
0.82%
15.20%
9.20%
5.96%
Alternatives
MainStay VP Hedge Multi-Strategy (formerly
MainStay VP IQ Hedge Multi-Strategy) —
Service Class
Adviser: New York Life Investments /
Subadviser: IndexIQ Advisors LLC (“IndexIQ”)
1.32%
9.98%
2.53%
(1.67)%
Asset Allocation
MainStay VP Income Builder — Service Class
Adviser: New York Life Investments /
Subadvisers: Epoch and MacKay Shields LLC
(“MacKay”)
0.87%
9.78%
5.78%
4.75%
Asset Allocation
MainStay VP Janus Henderson Balanced —
Service Class
Adviser: New York Life Investments /
Subadviser: Janus Henderson Investors US LLC
(“Janus Henderson”)
0.82%
15.23%
9.48%
7.78%
Non-Investment
Grade Bond
MainStay VP MacKay Convertible — Service
Class
Adviser: New York Life Investments /
Subadviser: MacKay
0.83%
8.58%
11.31%
8.23%
Appendix 1-2

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Non-Investment
Grade Bond
MainStay VP MacKay High Yield Corporate
Bond — Service Class
Adviser: New York Life Investments /
Subadviser: MacKay
0.83%
11.59%
5.04%
4.47%
Non-Investment
Grade Bond
MainStay VP MacKay Strategic Bond — Service
Class
Adviser: New York Life Investments /
Subadviser: MacKay
0.87%
9.92%
3.18%
2.49%
Investment
Grade Bond
MainStay VP MacKay U.S. Infrastructure Bond
(formerly MainStay VP MacKay Government) —
Service Class
Adviser: New York Life Investments /
Subadviser: MacKay
0.81%
4.74%
0.05%
0.72%
Asset Allocation
MainStay VP Moderate Allocation — Service
Class
Adviser: New York Life Investments
0.76%
12.73%
7.20%
4.90%
Sector
MainStay VP Natural Resources — Initial Class
Adviser: New York Life Investments /
Subadviser: Newton Investment Management
North America, LLC ("NIMNA")
0.84%
1.92%
18.96%
2.79%
Investment
Grade Bond
MainStay VP PIMCO Real Return — Service
Class
Adviser: New York Life Investments /
Subadviser: Pacific Investment Management
Company LLC (“PIMCO”)
1.03%
3.46%
3.08%
2.01%
International/Global
Equity
MainStay VP PineStone International Equity
(formerly MainStay VP MacKay International
Equity) — Service Class
Adviser: New York Life Investments /
Subadviser: PineStone Asset Management Inc.
1.11%
4.01%
5.10%
3.85%
Large Cap Equity
MainStay VP S&P 500 Index — Service Class
Adviser: New York Life Investments /
Subadviser: IndexIQ
0.37%
25.83%
15.25%
11.53%
Small/Mid Cap
Equity
MainStay VP Small Cap Growth — Service
Class
Adviser: New York Life Investments /
Subadvisers: Brown Advisory, LLC and Segall
Bryant & Hamill, LLC
1.10%
15.22%
10.29%
7.26%
Appendix 1-3

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Money Market
MainStay VP U.S. Government Money Market —
Initial Class
Adviser: New York Life Investments /
Subadviser: NYL Investors
0.28%
4.81%
1.61%
0.99%
Large Cap Equity
MainStay VP Wellington Growth — Service
Class+
Adviser: New York Life Investments /
Subadviser: Wellington
0.97%
38.26%
13.51%
10.05%
Small/Mid Cap
Equity
MainStay VP Wellington Mid Cap — Service
Class
Adviser: New York Life Investments /
Subadviser: Wellington
1.11%
13.41%
7.93%
6.39%
Small/Mid Cap
Equity
MainStay VP Wellington Small Cap — Service
Class
Adviser: New York Life Investments /
Subadviser: Wellington
0.99%
13.60%
6.42%
5.99%
Large Cap Equity
MainStay VP Wellington U.S. Equity — Service
Class
Adviser: New York Life Investments /
Subadviser: Wellington
0.81%
24.27%
12.88%
10.19%
Large Cap Equity
MainStay VP Winslow Large Cap Growth —
Service Class
Adviser: New York Life Investments
/ Subadviser: Winslow Capital Management,
LLC
0.99%
42.70%
17.29%
13.18%
Large Cap Equity
AB VPS Relative Value Portfolio — Class B
Adviser: AllianceBernstein L.P.
0.86%
11.72%
11.57%
9.05%
Asset Allocation
American Funds IS Asset Allocation Fund
Class 4
Adviser: Capital Research and Management
CompanySM (“CRMC”)
0.80%
14.02%
8.92%
6.98%
Investment Grade
Bond
American Funds IS The Bond Fund of America®
— Class 4
Adviser: CRMC
0.73%
4.72%
1.62%
1.83%
Investment
Grade Bond
American Funds IS Capital World Bond Fund®
— Class 4
Adviser: CRMC
0.98%
5.89%
(0.56)%
0.12%
Appendix 1-4

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
International/Global
Equity
American Funds IS Global Small Capitalization
Fund — Class 4
Adviser: CRMC
1.16%
15.79%
8.03%
5.51%
Large Cap Equity
American Funds IS Growth Fund — Class 4
Adviser: CRMC
0.84%
38.13%
18.38%
14.07%
International/Global
Equity
American Funds IS New World Fund® — Class
4
Adviser: CRMC
1.07%
15.67%
8.37%
4.43%
Investment
Grade Bond
American Funds IS U.S. Government Securities
Fund® — Class 4
Adviser: CRMC
0.76%
2.62%
0.79%
1.27%
Large Cap Equity
American Funds IS Washington Mutual Investors
FundSM — Class 4
Adviser: CRMC
0.77%
16.97%
12.33%
9.64%
Asset Allocation
BlackRock® Global Allocation V.I. Fund — Class
III
Adviser: BlackRock Advisors, LLC (“BlackRock”)
/ Subadvisers: BlackRock (Singapore) Limited
and BlackRock International Limited
1.02%
12.49%
7.39%
4.63%
Non-Investment
Grade Bond
BlackRock® High Yield V.I. Fund — Class III
Adviser: BlackRock / Subadviser: BlackRock
International Limited
0.79%
12.94%
5.49%
4.21%
Sector
BNY Mellon IP Technology Growth Portfolio —
Service Shares
Adviser: BNY Mellon Investment Adviser, Inc. /
Subadviser: NIMNA
1.03%
59.00%
15.31%
12.94%
Large Cap Equity
BNY Mellon Sustainable U.S. Equity Portfolio —
Service Shares
Adviser: BNY Mellon Investment Adviser, Inc. /
Subadviser: Newton Investment Management
Limited
0.92%
23.50%
14.85%
10.18%
Large Cap Equity
ClearBridge Variable Appreciation Portfolio —
Class II
Adviser: Franklin Templeton Fund Adviser, LLC
("FTFA") / Subadviser: ClearBridge Investments,
LLC
0.97%
19.39%
13.79%
N/A
Appendix 1-5

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Sector
Columbia Variable Portfolio — Commodity
Strategy Fund — Class 2++
Adviser: Columbia Management Investment
Advisers, LLC (“Columbia”) / Subadviser:
Threadneedle International Limited
1.01%
(7.14)%
9.08%
(0.97)%
Non-Investment
Grade Bond
Columbia Variable Portfolio — Emerging
Markets Bond Fund — Class 2
Adviser: Columbia
1.00%
10.02%
1.57%
2.20%
Investment Grade
Bond
Columbia Variable Portfolio — Intermediate
Bond Fund — Class 2
Adviser: Columbia
0.76%
5.96%
1.34%
1.99%
Small/Mid Cap
Equity
Columbia Variable Portfolio — Small Cap Value
Fund — Class 2
Adviser: Columbia
1.11%
21.67%
13.39%
8.40%
Alternatives
DWS Alternative Asset Allocation VIP — Class
B
Adviser: DWS Investment Management
Americas Inc. / Subadviser: RREEF America
LLC
1.21%
5.67%
5.70%
2.63%
Investment
Grade Bond
Fidelity® VIP Bond Index Portfolio — Service
Class 2
Adviser: Fidelity Management & Research
Company LLC (“FMR”) / Subadvisers: Other
investment advisers
0.39%
5.13%
0.64%
N/A
Large Cap Equity
Fidelity® VIP ContrafundSM Portfolio — Service
Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
0.81%
33.12%
16.36%
11.33%
International/Global
Equity
Fidelity® VIP Emerging Markets Portfolio —
Service Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
1.14%
9.49%
7.55%
4.92%
Large Cap Equity
Fidelity® VIP Equity-Income PortfolioSM
Service Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
0.72%
10.38%
12.01%
8.31%
Appendix 1-6

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Small/Mid Cap
Equity
Fidelity® VIP Extended Market Index Portfolio —
Service Class 2
Adviser: FMR / Subadviser: Geode Capital
Management, LLC (“Geode”)
0.38%
17.11%
11.02%
N/A
Asset Allocation
Fidelity® VIP FundsManager® 60% Portfolio —
Service Class
Adviser: FMR
0.71%
14.17%
8.61%
6.26%
Large Cap Equity
Fidelity® VIP Growth Opportunities Portfolio —
Service Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
0.84%
45.30%
18.79%
15.44%
Sector
Fidelity® VIP Health Care Portfolio — Service
Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
0.84%
4.01%
9.50%
10.39%
International/Global
Equity
Fidelity® VIP International Index Portfolio —
Service Class 2
Adviser: FMR / Subadviser: Geode
0.42%
15.88%
6.89%
N/A
Investment Grade
Bond
Fidelity® VIP Investment Grade Bond
Portfolio — Service Class 2
Adviser: FMR / Subadvisers: Other investment
advisers
0.63%
6.00%
1.72%
2.08%
Small/Mid Cap
Equity
Fidelity® VIP Mid Cap Portfolio — Service Class
2
Adviser: FMR / Subadvisers: Other investment
advisers
0.82%
14.80%
12.17%
7.85%
Asset Allocation
Franklin Templeton Aggressive Model
Portfolio — Class II
Adviser: FTFA / Subadviser: Franklin Advisers,
Inc. (“Franklin Advisers”)
0.91%
18.05%
N/A
N/A
Asset Allocation
Franklin Templeton Moderately Aggressive
Model Portfolio — Class II
Adviser: FTFA / Subadviser: Franklin Advisers
0.88%
15.53%
N/A
N/A
Asset Allocation
Franklin Templeton Moderate Model Portfolio —
Class II
Adviser: FTFA / Subadviser: Franklin Advisers
0.85%
13.18%
N/A
N/A
Appendix 1-7

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Asset Allocation
Franklin Templeton Moderately Conservative
Model Portfolio — Class II
Adviser: FTFA / Subadviser: Franklin Advisers
0.85%
10.31%
N/A
N/A
Asset Allocation
Franklin Templeton Conservative Model
Portfolio — Class II
Adviser: FTFA / Subadviser: Franklin Advisers
0.89%
8.31%
N/A
N/A
International/Global
Equity
Invesco V.I. EQV International Equity Fund —
Series II Shares
Adviser: Invesco Advisers, Inc. (“Invesco”)
1.15%
17.86%
8.15%
4.07%
Small/Mid Cap
Equity
Invesco V.I. Main Street Small Cap Fund®
Series II Shares
Adviser: Invesco
1.13%
17.82%
12.79%
8.66%
Small/Mid Cap
Equity
Janus Henderson Enterprise Portfolio — Service
Shares
Adviser: Janus Henderson
0.97%
17.78%
13.14%
11.82%
International/Global
Equity
Janus Henderson Global Research Portfolio —
Service Shares
Adviser: Janus Henderson
0.86%
26.47%
13.05%
8.74%
Small/Mid Cap
Equity
Macquarie VIP Small Cap Value Series
(formerly Delaware VIP® Small Cap Value
Series) — Service Class
Adviser: Delaware Management Company, a
series of Macquarie Investment Management
Business Trust (a Delaware statutory trust)
1.08%
9.10%
9.87%
6.77%
International Equity
MFS® International Intrinsic Value Portfolio —
Service Class
Adviser: Massachusetts Financial Services
Company (“MFS”)
1.14%
17.37%
8.31%
6.66%
Large Cap Equity
MFS® Investors Trust Series — Service Class
Adviser: MFS
1.03%
18.66%
13.27%
10.00%
Mid Cap
Equity
MFS® Mid Cap Value Portfolio — Service Class
Adviser: MFS
1.04%
12.39%
12.60%
8.46%
International/Global
Equity
MFS® Research International Portfolio —
Service Class
Adviser: MFS
1.14%
12.83%
8.23%
3.89%
Appendix 1-8

Type
Portfolio
Adviser/Sub-adviser
Current
Expenses*
Average Annual Total Returns
(as of 12/31/23)
1 year
5 year
10 year
Large Cap Equity
MFS® Research Series — Service Class
Adviser: MFS
1.04%
22.12%
14.13%
10.55%
Sector
Morgan Stanley VIF U.S. Real Estate Portfolio —
Class II
Adviser: Morgan Stanley Investment
Management Inc.
1.05%
14.22%
2.66%
4.26%
Small/Mid Cap
Equity
Neuberger Berman AMT Mid Cap Growth
Portfolio — Class S
Adviser: Neuberger Berman Investment
Advisers LLC
1.11%