NU Online News Service, May 21, 2003, 1:16 p.m. EDT – The New York Life Insurance and Annuity Corp., a unit of New York Life Insurance Company, New York, has introduced the Variable Universal Life Provider policy.

The variable-universal life policy, which is aimed at the non-qualified deferred compensation and supplemental life markets, offers a fixed account as well as many variable investment options, New York Life says.

Other features include dollar cost averaging and automatic asset reallocation, New York Life says.