04/28/2022 | Press release | Distributed by Public on 04/28/2022 10:58
Item | Page |
Special Terms | 3 |
Important Information You Should Consider About the Lincoln ChoicePlusSM Fusion Variable Annuity Contract | 4 |
Overview of the Contract | 6 |
Benefits Available Under the Contract | 8 |
Buying the Contract | 9 |
Making Withdrawals: Accessing the Money in Your Contract | 9 |
Additional Information About Fees | 11 |
Fee Tables | 11 |
Appendix A- Funds Available Under The Contract | A-1 |
Appendix B - Investment Requirements | B-1 |
FEES AND EXPENSES |
Location in Prospectus |
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Charges for Early Withdrawals | If you make a withdrawal in excess of the free withdrawal amount before the 1st year since your last Purchase Payment, you may be assessed a surrender charge of up to 1% of the amount withdrawn, declining to 0% over that time period. For example, if you make a withdrawal of $100,000 during the first year after your Purchase Payment, you could be assessed a charge of up to $1,000 on the Purchase Payment withdrawn. | • Fee Tables• Examples• Charges and Other Deductions - Surrender Charge | ||
Transaction Charges | There is currently no charge for a transfer. We reserve the right to charge a $25 fee for each transfer if you make more than 12 transfers in one Contract Year. Each Purchase Payment is subject to its own Premium Based Charge that will be deducted quarterly for seven years after the Purchase Payment is received. The Premium Based Charge rate for new Purchase Payments decreases as the total amount of Purchase Payments increase. | • Charges and Other Deductions - Premium Based Charge | ||
Ongoing Fees and Expenses (annual charges) | Minimum and Maximum Annual Fee Table. The table below describes the current fees and expenses that you may pay each year, depending on the options you choose. Please refer to your contract specifications page for information about the specific fees you will pay each year based on the options you have elected. | • Fee Tables• Examples• Charges and Other Deductions | ||
Annual Fee | Minimum | Maximum | ||
Base Contract - Account Value Death Benefit | 0.83%1 | 0.83%1 | ||
Base Contract - Guarantee of Principal Death Benefit | 0.88%1 | 0.88%1 | ||
Base Contract - Enhanced Guaranteed Minimum Death Benefit | 1.13%1 | 1.13%1 | ||
Investment options (fund fees and expenses) | 0.48%1 | 1.64%1 | ||
Optional benefits available for an additional charge (for a single optional benefit, if elected) | 0.40% 1 | 2.45% 2 | ||
1 As a percentage of average Account Value in the Subaccounts. | ||||
2 As an annualized percentage of the Protected Income Base. |
FEES AND EXPENSES |
Location in Prospectus |
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Lowest and Highest Annual Cost Table. Because your Contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay each year. This estimate assumes that you do not take withdrawals from the Contract, which could add surrender charges and Premium Based Charges that substantially increase costs. | ||
Lowest Annual Cost: $1,990 | Highest Annual Cost: $6,068 | |
Assumes: | Assumes: | |
• Investment of $100,000• 5% annual appreciation• Least expensive fund fees and expenses• No optional benefits• No surrender charges• No Premium Based Charges• No additional Purchase Payments, transfers, or withdrawals | • Investment of $100,000• 5% annual appreciation• Most expensive combination of optional benefits and fund fees and expenses• No surrender charges• No Premium Based Charges• No additional Purchase Payments, transfers, or withdrawals | |
RISKS |
Location in Prospectus |
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Risk of Loss | • You can lose money by investing in this Contract, including loss of principal. | • Principal Risks• Investments of the Variable Annuity Account |
Not a Short-Term Investment | • This Contract is not designed for short-term investing and may not be appropriate for the investor who needs ready access to cash.• Excess Withdrawals may result in surrender charges and Premium Based Charges. If you take a withdrawal, any surrender charge or Premium Based Charge will reduce the value of your Contract or the amount of money that you actually receive.• The benefits of tax deferral, long-term income, and living benefit protections also mean the Contract is more beneficial to investors with a long-term investment horizon. | • Principal Risks• Surrender and Withdrawals• Fee Tables• Charges and Other Deductions• Living Benefit Riders |
Risks Associated with Investment Options | • An investment in this Contract is subject to the risk of poor investment performance of the investment options you choose. Performance can vary depending on the performance of the investment options available under the Contract.• Each investment option (including the fixed account option) has its own unique risks.• You should review the investment options before making an investment decision. | • Principal Risks• Investments of the Variable Annuity Account |
Insurance Company Risks | • An investment in the Contract is subject to the risks related to us. Any obligations (including under the fixed account option), guarantees, or benefits of the Contract are subject to our claims-paying ability. If we experience financial distress, we may not be able to meet our obligations to you. More information about Lincoln New York, including our financial strength ratings, is available upon request by calling 1-888-868-2583 or visiting www.LincolnFinancial.com. | • Principal Risks |
RESTRICTIONS |
Location in Prospectus |
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Investments | • The frequency of transfers between investment options is restricted. There are also restrictions on the minimum amount that may be transferred from a variable option and the maximum amount that may be transferred from the fixed account option.• We reserve the right to charge a $25 fee for each transfer if you make more than 12 transfers in one Contract Year.• We reserve the right to remove or substitute any funds as investment options that are available under the Contract. | • Principal Risks• Investments of the Variable Annuity Account |
Optional Benefits | • Optional benefits may limit or restrict the investment options that you may select under the Contract. We may change these restrictions in the future.• Excess Withdrawals may reduce the value of an optional benefit by an amount greater than the value withdrawn or result in termination of the benefit. • You are required to have a certain level of Contract Value for some new rider elections.• We may modify or stop offering an optional benefit that is currently available at any time.• If you elect certain optional benefits, you may be limited in the amount of Purchase Payments that you can make (and when). | • The Contracts• Living Benefit Riders• Appendix B - Investment Requirements• Appendix C - Discontinued Living Benefit Riders |
TAXES |
Location in Prospectus |
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Tax Implications | • Consult with a tax professional to determine the tax implications of an investment in and payments received under this Contract.• If you purchase the Contract through a tax-qualified plan or IRA, you do not get any additional tax deferral under the Contract.• Earnings on your Contract are taxed at ordinary income tax rates when you withdraw them, and you may have to pay a penalty if you take a withdrawal before age 59½. | • Federal Tax Matters |
CONFLICTS OF INTEREST |
Location in Prospectus |
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Investment Professional Compensation | • Your registered representative may receive compensation for selling this Contract to you, both in the form of commissions and because we may share the revenue it earns on this Contract with the professional's firm. (Your investment professional may be your broker, investment adviser, insurance agent, or someone else).• This potential conflict of interest may influence your investment professional to recommend this Contract over another investment. | • Distribution of the Contracts• Principal Risks |
Exchanges | • Some investment professionals may have a financial incentive to offer you a new Contract in place of the one you own. You should only exchange your contract if you determine, after comparing the features, fees, and risks of both contracts, that it is better for you to purchase the new Contract rather than continue to own your existing contract. | • The Contracts - Replacement of Existing Insurance |
• | The variable options available under the Contract, each of which has an underlying mutual fund with its own investment objective, strategies, and risks; investment adviser(s); expense ratio; and performance history; and |
• | A fixed account option, if available, which guarantees principal and a minimum interest rate. |
• | an income/withdrawal benefit: |
• | Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk). |
• | an Annuity Payout: |
• | i4LIFE® Advantage without the Guaranteed Income Benefit. |
• | Dollar-cost averaging (DCA) allows you to transfer amounts from the DCA fixed account, if available, or certain Subaccounts into other Subaccounts on a monthly basis or in accordance with other terms we make available. |
• | Portfolio rebalancing is an option that restores to a pre-determined level the percentage of Contract Value allocated to each Subaccount. |
• | Cross-Reinvestment allows you to automatically transfer the excess amount to another investment option when the amount invested in an investment option exceeds a baseline amount. |
• | Automatic Withdrawal Service (AWS) provides for an automatic periodic withdrawal of your Contract Value. Withdrawals under AWS are subject to applicable surrender charges and Interest Adjustments (as well as taxes and tax penalties). |
Standard Benefits | |||
Name of Benefit | Purpose | Maximum Fee | Brief Description of Restrictions / Limitations |
Account Value Death Benefit | Provides a Death Benefit equal to the Contract Value. | • 0.80% | • Poor investment performance could significantly reduce the benefit. • Withdrawals could significantly reduce the benefit. |
Guarantee of Principal Death Benefit | Provides a Death Benefit equal to the greatest of (1) Contract Value; (2) all Purchase Payments, adjusted for withdrawals. | • 0.85% | • Withdrawals could significantly reduce the benefit. |
Enhanced Guaranteed Minimum Death Benefit (EGMDB) | Provides a Death Benefit equal to the greatest of (1) Contract Value; (2) all Purchase Payments, adjusted for withdrawals; (3) the highest Contract Value on any contract anniversary prior to age 81 as adjusted for withdrawals. | • 1.10% | • Not available if age 80 or older at the time of issuance. • Withdrawals could significantly reduce the benefit. • Poor investment performance could significantly reduce and limit potential increases to the highest Contract Value. |
Dollar-Cost Averaging | Allows you to automatically transfer amounts between certain investment options on a monthly basis. | None | • Minimum amount to be dollar cost averaged is $1,500 over any time period between 3 and 60 months. • Cannot be used simultaneously with portfolio rebalancing or cross reinvestment. |
Portfolio Rebalancing | Allows you to automatically reallocate your Contract Value among investment options on a periodic basis based on your standing allocation instructions. | None | • Cannot be used simultaneously with dollar cost averaging or cross reinvestment. |
Cross-Reinvestment | When the amount invested in an investment option exceeds a baseline amount, allows you to automatically transfer the excess amount to another investment option. | None | • Cannot be used simultaneously with dollar cost averaging or portfolio rebalancing. |
Automatic Withdrawal Service | Allows you to take periodic withdrawals from your Contract automatically. | None | • Automatically terminates once i4LIFE® Advantage begins. |
Limitations on withdrawal amounts | • The minimum withdrawal amount is $300. |
Surrender charges, Premium Based Charges and taxes | • There may be surrender charges, Premium Based Charges, interest adjustments, and tax implications when you take out money. |
Negative impact on benefits and guarantees of your Contract | • A withdrawal may have a negative impact on certain optional benefits that you may elect. It may reduce the value of or even terminate certain benefits. |
Internal Revenue Code or Retirement Plan | • Depending on the circumstances, the Internal Revenue Code or your retirement plan may restrict your ability to take withdrawals. |
Premium Based Charge (as a percentage of Purchase Payments):1,2
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4.90% |
Surrender charge (as a percentage of Purchase Payments surrendered/withdrawn):3
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1.00% |
Transfer charge:4
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$25 |
1 | The Premium Based Charge is payable for seven years and is deducted quarterly (0.1750%). We will deduct this charge beginning on the first quarterly contract anniversary after the Purchase Payment is paid into the Contract, continuing for a total of 28 quarterly contract anniversaries. The charge reflected is the maximum charge rate. The Premium Based Charge rate may decrease as total purchase payments increase. See Charges and Other Deductions - Premium Based Charge for further information. |
2 | If you surrender the Contract, the total remaining Premium Based Charge (if any) will be deducted from your surrender value. If you make a withdrawal above the Premium Based Charge Free Amount, a portion of the total remaining Premium Based Charge will be deducted from your Contract Value at the time of the withdrawal. See Charges and Other Deductions - Premium Based Charge for further information. |
3 | There is a surrender charge associated with each Purchase Payment. The surrender charge percentage is in effect until the first year after any Purchase Payment. After the first year after a Purchase Payment, the surrender charge is reduced to zero. We may reduce or waive this charge in certain situations. See Charges and Other Deductions - Surrender Charge. |
4 | The transfer charge will not be imposed on the first 12 transfers during a Contract Year. We reserve the right to charge a $25 fee for the 13th and each additional transfer during any Contract Year, excluding automatic dollar cost averaging, portfolio rebalancing and cross reinvestment transfers. |
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Administrative Expense (Annual Account Fee):1
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$50 | |
Base Contract Expenses (as a percentage of average Account Value in the Subaccounts) 2 |
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Account Value Death Benefit
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0.80% | |
Guarantee of Principal Death Benefit
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0.85% | |
Enhanced Guaranteed Minimum Death Benefit (EGMDB)
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1.10% |
Optional Benefit Expenses (Protected Lifetime Income Fees) |
Single Life |
Joint Life |
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk):3, 4 |
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Guaranteed Maximum Annual Charge
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2.25% | 2.45% |
i4LIFE® Advantage:5 |
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Current Charge
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0.40% | 0.40% |
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk):3, 6 |
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Guaranteed Maximum Annual Charge
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2.00% | 2.00% |
1 | During the accumulation phase, the account fee will be deducted from your Contract Value on each contract anniversary, or upon surrender of the Contract. The account fee will be waived if your Contract Value is $50,000 or more on the contract anniversary (or date of surrender). This account fee will be waived after the fifteenth Contract Year, regardless of your Contract Value. |
2 | Each base contract expense includes an administrative charge of 0.10%. |
3 | The current charge for new elections of this rider is disclosed in a Rate Sheet. The rates and/or percentages from previous effective periods are included in an Appendix to this prospectus. |
4 | As an annualized percentage of the Protected Income Base, as increased for subsequent Purchase Payments, Account Value Step-ups and Enhancements, and decreased by Excess Withdrawals. This fee is deducted from the Contract Value on a quarterly basis. This same fee applies when transitioning to the appropriate version of i4LIFE® Advantage Guaranteed Income Benefit. |
5 | As an annualized percentage of average Account Value, computed daily. This charge is assessed only on and after the effective date of i4LIFE® Advantage and is added to your base contract expense. These charges continue during the Access Period. During the Lifetime Income Period, the i4LIFE® Advantage charge rate of 0.40% is added to the Account Value Death Benefit base contract expense. |
6 | These charges are added to the i4LIFE® Advantage charges to comprise the total charges reflected. During the Lifetime Income Period, the Guaranteed Income Benefit charge rate is the base contract expense plus the i4LIFE® Advantage Guaranteed Income Benefit charge. |
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Annual Fund Expenses |
Minimum | Maximum | ||
Expenses that are deducted from the fund assets, including management fees, distribution and/or service (12b-1) fees, and other expenses before any waivers or expense reimbursements
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0.48% | 1.64% | ||
Expenses that are deducted from the fund assets, including management fees, distribution and/or service (12b-1) fees, and other expenses after any waivers or expense reimbursements.1
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0.48% | 1.48% |
1 | Any expense waivers or reimbursements will remain in effect until at least April 30, 2023, and can only be terminated early with approval by the fund's board of directors. |
1 year | 3 years | 5 years | 10 years | |||
$11,088 | $20,748 | $31,759 | $60,677 |
1 year | 3 years | 5 years | 10 years | |||
$5,888 | $17,948 | $30,359 | $60,677 |
1 year | 3 years | 5 years | 10 years | |||
$11,459 | $21,362 | $31,980 | $57,468 |
1 year | 3 years | 5 years | 10 years | |||
$6,259 | $18,562 | $30,580 | $57,468 |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
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1 year | 5 year | 10 year | |||
Long-term growth of capital. |
AB VPS Small/Mid Cap Value Portfolio - Class B |
1.05% | 35.60% | 9.88% | 12.85% |
Long-term growth of capital. | AB VPS Sustainable Global Thematic Portfolio - Class B | 1.13%2 | 22.57% | 22.11% | 14.95% |
Long-term capital growth and current income by investing approximately 60% of its assets in equity securities and the remainder in bonds and other fixed-income securities. | American Century VP Balanced Fund - Class II | 1.06%2 | 15.48% | 11.06% | N/A |
Long-term growth of capital. | American Funds Global Growth Fund - Class 4 | 0.92%2 | 16.14% | 19.40% | 15.41% |
Long-term capital growth. | American Funds Global Small Capitalization Fund - Class 4 | 1.15%2 | 6.43% | 15.16% | 12.24% |
Growth of capital. | American Funds Growth Fund - Class 4 | 0.85% | 21.68% | 25.12% | 19.44% |
Long-term growth of capital and income. | American Funds Growth-Income Fund - Class 4 | 0.79% | 23.80% | 16.10% | 15.14% |
Long-term growth of capital. | American Funds International Fund - Class 4 | 1.04% | -1.71% | 9.37% | 7.88% |
High total investment return. |
BlackRock Global Allocation V.I. Fund - Class III This fund will be substituted with the LVIP BlackRock Global Allocation Fund on or about June 3, 2022. Consult your registered representative. |
1.00%2 | 6.42% | 9.71% | 7.68% |
Long-term growth of capital. |
ClearBridge Variable Mid Cap Portfolio - Class II advised by Legg Mason Partners Fund Advisor, LLC |
1.07% | 28.39% | 13.98% | 14.04% |
Long-term capital appreciation. | Delaware VIP® Emerging Markets Series - Service Class3 | 1.48%2 | -3.13% | 11.70% | 6.84% |
Capital Appreciation. | Delaware VIP® Small Cap Value Series - Service Class3 | 1.05% | 34.01% | 9.22% | 11.78% |
Capital Appreciation. A fund of funds. |
DWS Alternative Asset Allocation VIP Portfolio - Class B |
1.26% | 12.35% | 5.59% | 3.89% |
Income and capital growth consistent with reasonable risk. A fund of funds. | Fidelity® VIP Balanced Portfolio - Service Class 2 | 0.71% | 17.99% | 14.69% | 12.37% |
Long-term capital appreciation. | Fidelity® VIP Contrafund® Portfolio - Service Class 2 | 0.85% | 27.51% | 19.87% | 16.35% |
To achieve capital appreciation. | Fidelity® VIP Growth Portfolio - Service Class 2 | 0.85% | 22.90% | 25.98% | 19.40% |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
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1 year | 5 year | 10 year | |||
Long-term growth of capital. | Fidelity® VIP Mid Cap Portfolio - Service Class 2 | 0.86% | 25.31% | 13.32% | 13.00% |
To provide capital appreciation. | First Trust Capital Strength Portfolio - Class I | 1.10%2 | 25.30% | N/A | N/A |
Capital appreciation, with income as a secondary goal, by allocating its assets among equity and fixed income investments through a variety of investment strategies. | Franklin Allocation VIP Fund - Class 4 | 0.92%2 | 11.54% | 8.54% | 8.85% |
To maximize income while maintaining prospects for capital appreciation. | Franklin Income VIP Fund - Class 4 | 0.82% | 16.59% | 7.34% | 7.27% |
Capital appreciation; income is a secondary consideration. |
Franklin Mutual Shares VIP Fund - Class 4 |
1.08% | 19.06% | 6.33% | 8.89% |
Long-term capital appreciation. | Goldman Sachs VIT Large Cap Value Fund - Service Shares | 0.93%2 | 23.93% | 10.06% | 11.80% |
Long-term growth of capital. | Invesco V.I. EQV International Equity Fund - Series II Shares | 1.14% | 5.61% | 9.90% | 7.82% |
Capital Appreciation. | LVIP Baron Growth Opportunities Fund - Service Class | 1.14%2 | 18.72% | 21.55% | 16.57% |
Reasonable income by investing primarily in income-producing equity securities. |
LVIP BlackRock Dividend Value Managed Volatility Fund - Service Class |
0.89%2 | 22.76% | 9.34% | 8.93% |
High total investment return. |
LVIP BlackRock Global Allocation Fund - Service Class This fund will be available on or about June 3, 2022. Consult your registered representative. |
0.98%2 | 7.31% | N/A | N/A |
Total return through a combination of current income and long-term capital appreciation. | LVIP BlackRock Global Real Estate Fund - Service Class | 1.04%2 | 27.69% | 9.43% | 8.56% |
To maximize real return, consistent with preservation of real capital and prudent investment management. | LVIP BlackRock Inflation Protected Bond Fund - Service Class | 0.73% | 4.41% | 3.38% | 1.67% |
Long-term growth of capital in a manner consistent with the preservation of capital. | LVIP Blended Large Cap Growth Managed Volatility Fund - Service Class | 0.93%2 | 30.53% | 18.29% | 13.41% |
Capital Appreciation. | LVIP Blended Mid Cap Managed Volatility Fund - Service Class | 0.96%2 | 13.00% | 17.60% | 10.37% |
Maximum current income (yield) consistent with a prudent investment strategy. | LVIP Delaware Bond Fund - Service Class3 | 0.71% | -2.14% | 3.68% | 2.97% |
Total return. | LVIP Delaware Diversified Floating Rate Fund - Service Class3 | 0.87%2 | 0.14% | 1.57% | 1.36% |
Maximum long-term total return consistent with reasonable risk. | LVIP Delaware Diversified Income Fund - Service Class3 | 0.84%2 | -1.62% | 4.20% | 3.31% |
Maximum total return, consistent with reasonable risk. |
LVIP Delaware Limited-Term Diversified Income Fund - Service Class3 |
0.83% | -1.04% | 1.95% | 1.47% |
To maximize long-term capital appreciation. |
LVIP Delaware Mid Cap Value Fund - Service Class3 |
0.76% | 31.45% | 11.27% | 12.85% |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
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1 year | 5 year | 10 year | |||
Maximum long-term total return, with capital appreciation as a secondary objective. | LVIP Delaware REIT Fund - Service Class3 | 1.12% | 42.54% | 8.58% | 9.73% |
Long-term capital appreciation. | LVIP Delaware SMID Cap Core Fund - Service Class3 | 1.10% | 22.83% | 12.76% | 12.99% |
To maximize long-term capital appreciation. | LVIP Delaware Social Awareness Fund - Service Class3 | 0.78% | 25.99% | 17.62% | 15.49% |
Long-term capital appreciation. | LVIP Delaware U.S. Growth Fund - Service Class3 | 1.02% | 17.74% | 21.61% | 16.56% |
Long-term capital appreciation. | LVIP Delaware Value Fund - Service Class3 | 0.99% | 22.04% | 9.99% | 12.24% |
Long-term capital appreciation. A fund of funds. |
LVIP Dimensional International Equity Managed Volatility Fund - Service Class |
1.01% | 15.08% | 5.69% | 4.90% |
Long-term capital appreciation. A fund of funds. |
LVIP Dimensional U.S. Equity Managed Volatility Fund - Service Class |
0.85%2 | 27.38% | 13.82% | 11.89% |
Long-term capital growth. |
LVIP Franklin Templeton Global Equity Managed Volatility Fund - Service Class |
0.96%2 | 17.03% | 10.19% | 7.97% |
A balance between current income and growth of capital, with a greater emphasis on growth of capital. A fund of funds. |
LVIP Global Aggressive Growth Allocation Managed Risk Fund - Service Class This fund is not available in contracts issued before May 20, 2019. |
0.99%2 | 14.45% | N/A | N/A |
A high level of current income with some consideration given to growth of capital. A fund of funds. | LVIP Global Conservative Allocation Managed Risk Fund - Service Class | 0.98%2 | 7.37% | 6.69% | 5.99% |
Current income consistent with the preservation of capital. | LVIP Global Income Fund - Service Class | 0.90%2 | -5.33% | 2.72% | 1.73% |
A balance between a high level of current income and growth of capital, with an emphasis on growth of capital. A fund of funds. |
LVIP Global Moderate Allocation Managed Risk Fund - Service Class |
0.96%2 | 10.54% | 7.62% | 6.26% |
Current income while (i) maintaining a stable value of your shares (providing stability of net asset value) and (ii) preserving the value of your initial investment (preservation of capital). | LVIP Government Money Market Fund - Service Class | 0.67% | 0.02% | 0.61% | 0.32% |
A high level of current income; capital appreciation is the secondary objective. | LVIP JPMorgan High Yield Fund - Service Class | 0.91%2 | 6.16% | 5.39% | 5.81% |
Long-term capital appreciation. |
LVIP JPMorgan Select Mid Cap Value Managed Volatility Fund - Service Class |
1.01%2 | 28.75% | 8.84% | 8.86% |
Long-term capital appreciation. | LVIP MFS International Growth Fund - Service Class | 1.03%2 | 10.97% | 14.20% | 9.79% |
Capital Appreciation. | LVIP MFS Value Fund - Service Class | 0.87%2 | 25.15% | 12.04% | 13.21% |
Long-term capital appreciation as measured by the change in the value of fund shares over a period of three years or longer. | LVIP Mondrian International Value Fund - Service Class | 0.99%2 | 10.99% | 5.81% | 5.49% |
To seek a high level of current income consistent with preservation of capital. | LVIP PIMCO Low Duration Bond Fund - Service Class | 0.75%2 | -0.89% | 1.66% | N/A |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
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1 year | 5 year | 10 year | |||
To match as closely as practicable, before fees and expenses, the performance of the Barclays Capital U.S. Aggregate Index. | LVIP SSGA Bond Index Fund - Service Class | 0.61%2 | -2.22% | 2.98% | 2.30% |
A high level of current income, with some consideration given to growth of capital. A fund of funds. | LVIP SSGA Conservative Index Allocation Fund - Service Class | 0.76%2 | 6.10% | 7.46% | 6.03% |
A high level of current income, with some consideration given to growth of capital. A fund of funds. | LVIP SSGA Conservative Structured Allocation Fund - Service Class | 0.82% | 7.17% | 6.62% | 5.74% |
To maximize long-term capital appreciation. | LVIP SSGA Developed International 150 Fund - Service Class | 0.64%2 | 12.87% | 5.32% | 6.37% |
To maximize long-term capital appreciation. | LVIP SSGA Emerging Markets 100 Fund - Service Class | 0.72%2 | 8.51% | 5.20% | 2.57% |
A balance between current income and growth of capital, with a greater emphasis on growth of capital. | LVIP SSGA Emerging Markets Equity Index Fund - Service Class | 0.75%2 | -3.54% | N/A | N/A |
Long-term growth of capital. A fund of funds. |
LVIP SSGA Global Tactical Allocation Managed Volatility Fund - Service Class |
0.80%2 | 12.29% | 7.74% | 6.04% |
To approximate as closely as practicable, before fees and expenses, the performance of a broad market index of non-U.S. foreign securities. |
LVIP SSGA International Index Fund - Service Class |
0.62%2 | 10.78% | 9.13% | 7.45% |
Capital Appreciation. A fund of funds. | LVIP SSGA International Managed Volatility Fund - Service Class | 0.85%2 | 10.49% | 7.02% | N/A |
To maximize long-term capital appreciation. | LVIP SSGA Large Cap 100 Fund - Service Class | 0.60%2 | 31.54% | 12.50% | 13.88% |
A balance between a high level of current income and growth of capital, with a greater emphasis on growth of capital. A fund of funds. | LVIP SSGA Moderate Index Allocation Fund - Service Class | 0.75% | 10.12% | 9.52% | 7.93% |
A balance between a high level of current income and growth of capital, with an emphasis on growth of capital. A fund of funds. | LVIP SSGA Moderate Structured Allocation Fund - Service Class | 0.78% | 11.87% | 8.31% | 7.50% |
A balance between high level of current income and growth of capital, with a greater emphasis on growth of capital. A fund of funds. | LVIP SSGA Moderately Aggressive Index Allocation Fund - Service Class | 0.75% | 11.09% | 10.26% | 8.60% |
A balance between high level of current income and growth of capital, with a greater emphasis on growth of capital. A fund of funds. | LVIP SSGA Moderately Aggressive Structured Allocation Fund - Service Class | 0.81% | 13.39% | 8.73% | 8.01% |
To approximate as closely as practicable, before fees and expenses, the total rate of return of common stocks publicly traded in the United States, as represented by the S&P 500 Index. | LVIP SSGA S&P 500 Index Fund - Service Class4 | 0.48% | 28.10% | 17.89% | 15.98% |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
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1 year | 5 year | 10 year | |||
To provide investment results that, before fees and expenses, correspond generally to the price and yield performance of an index that tracks the short-term U.S. corporate bond market. | LVIP SSGA Short-Term Bond Index Fund - Service Class | 0.61%2 | -0.77% | N/A | N/A |
To approximate as closely as practicable, before fees and expenses, the performance of the Russell 2000® Index, which emphasizes stocks of small U.S. companies. | LVIP SSGA Small-Cap Index Fund - Service Class | 0.63%2 | 14.27% | 11.28% | 12.48% |
To maximize long-term capital appreciation. | LVIP SSGA Small-Mid Cap 200 Fund - Service Class | 0.63%2 | 33.32% | 9.06% | 11.42% |
Long-term capital growth. | LVIP T. Rowe Price Growth Stock Fund - Service Class | 0.91%2 | 20.18% | 22.98% | 18.75% |
To maximize capital appreciation. | LVIP T. Rowe Price Structured Mid-Cap Growth Fund - Service Class | 0.96%2 | 13.56% | 19.73% | 16.66% |
High level of current income and growth of capital, with an emphasis on growth of capital. A fund of funds. | LVIP U.S. Growth Allocation Managed Risk Fund - Service Class | 1.03%2 | 15.08% | 9.75% | N/A |
Total return consistent with the preservation of capital. A fund of funds. | LVIP Vanguard Bond Allocation Fund - Service Class | 0.62% | -1.54% | 2.62% | 1.97% |
Long-term capital appreciation. A fund of funds. | LVIP Vanguard Domestic Equity ETF Fund - Service Class | 0.56%2 | 25.42% | 17.24% | 15.22% |
Long-term capital appreciation. A fund of funds. | LVIP Vanguard International Equity ETF Fund - Service Class | 0.58%2 | 7.89% | 9.64% | 7.48% |
Capital growth. | LVIP Wellington Capital Growth Fund - Service Class | 0.95%2 | 16.82% | 26.35% | 20.18% |
Long-term capital appreciation. | LVIP Wellington SMID Cap Value Fund - Service Class | 1.03%2 | 27.88% | 10.28% | 12.46% |
Capital Appreciation. | MFS® VIT Growth Series - Service Class | 0.96%2 | 23.24% | 24.56% | 19.03% |
Total return. | MFS® VIT Total Return Series - Service Class | 0.86%2 | 13.84% | 9.57% | 9.31% |
Total return. | MFS® VIT Utilities Series - Service Class | 1.03%2 | 13.82% | 11.61% | 9.65% |
Capital growth and current income. | Putnam VT Large Cap Value Fund - Class IB | 0.81% | 27.30% | 13.81% | 14.11% |
1 | The name of the adviser or sub-adviser is not listed if the name is incorporated into the name of the fund or the fund company. |
2 | This fund is subject to an expense reimbursement or fee waiver arrangement. As a result, this fund's annual expenses reflect temporary expense reductions. See the fund prospectus for additional information. |
3 | Investments in Delaware VIP Series, Delaware Funds, Ivy Variable Insurance Portfolios, Ivy Funds, LVIP Delaware Funds or Lincoln Life accounts managed by Macquarie Investment Management Advisers, a series of Macquarie Investments Management Business Trust, are not and will not be deposits with or liabilities of Macquarie Bank Limited ABN 46008 583 542 and its holding companies, including their subsidiaries or related companies, and are subject to investment risk, including possible delays in prepayment and loss of income and capital invested. No Macquarie Group company guarantees or will guarantee the performance of the series or funds or accounts, the repayment of capital from the series or funds or account, or any particular rate of return. |
4 | The index to which this fund is managed is a product of S&P Dow Jones Indices LLC ("SPDJI") and has been licensed for use by one or more of the portfolio's service providers (licensee). Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC (S&P); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by the licensees. S&P®, S&P GSCI® and the index are trademarks of S&P and have been licensed for use by SPDJI and its affiliates and sublicensed for certain purposes by the licensee. The Index is not owned, endorsed, or approved by or associated with any additional third party. The licensee's products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S& P, their respective affiliates, or their third party licensors, and none of these parties or their respective affiliates or third party licensors make any representation regarding the advisability of investing in such products, nor do they have any liability for any errors, omissions, or interruptions of the Index. |
5 | Standard & Poor's®," "S&P®," "Standard & Poor's Equal Weight Index," "S&P EWI," "S&P 500®," "Standard & Poor's 500" and "500" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by the Invesco V.I. Equally-Weighted S&P 500 Fund. The fund is not sponsored, endorsed, sold or promoted by S&P, and S&P makes no representation regarding the advisability of investing in the fund. |
6 | Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). The trademark has been licensed to S&P Dow Jones Indices LLC and has been sublicensed for use for certain purposes by First Trust Advisors L.P. The product is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of purchasing the product. |
Group 1 Investments must be at least 20% of Contract Value or Account Value |
Group 2 Investments cannot exceed 80% of Contract Value or Account Value |
Group 3 Investments cannot exceed 10% of Contract Value or Account Value |
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LVIP BlackRock Inflation Protected Bond Fund LVIP Delaware Bond Fund LVIP Delaware Diversified Floating Rate Fund LVIP Delaware Diversified Income Fund LVIP Delaware Limited-Term Diversified Income Fund LVIP PIMCO Low Duration Bond Fund LVIP SSGA Bond Index Fund LVIP SSGA Short-Term Bond Index Fund LVIP Vanguard Bond Allocation Fund |
LVIP BlackRock Dividend Value Managed Volatility Fund LVIP Blended Large Cap Growth Managed Volatility Fund LVIP Blended Mid Cap Managed Volatility Fund LVIP Dimensional International Equity Managed Volatility Fund LVIP Dimensional U.S. Equity Managed Volatility Fund LVIP Franklin Templeton Global Equity Managed Volatility Fund LVIP Global Aggressive Growth Allocation Managed Risk Fund LVIP Global Conservative Allocation Managed Risk Fund LVIP Global Moderate Allocation Managed Risk Fund LVIP JPMorgan Select Mid Cap Value Managed Volatility Fund LVIP SSGA Global Tactical Allocation Managed Volatility Fund LVIP SSGA International Managed Volatility Fund LVIP U.S. Growth Allocation Managed Risk Fund |
No subaccounts at this time. |
• | LVIP BlackRock Inflation Protected Bond Fund |
• | LVIP Delaware Bond Fund |
• | LVIP Delaware Diversified Floating Rate Fund |
• | LVIP Delaware Diversified Income Fund |
• | LVIP Delaware Limited-Term Diversified Income Fund |
• | LVIP Global Aggressive Growth Allocation Managed Risk Fund |
• | LVIP Global Conservative Allocation Managed Risk Fund |
• | LVIP Global Moderate Allocation Managed Risk Fund |
• | LVIP PIMCO Low Duration Bond Fund |
• | LVIP SSGA Bond Index Fund |
• | LVIP SSGA Global Tactical Allocation Managed Volatility Fund |
• | LVIP SSGA Short-Term Bond Index Fund |
• | LVIP U.S. Growth Allocation Managed Risk Fund |
• | LVIP Vanguard Bond Allocation Fund |
Group 1 Investments must be at least 30% of Contract Value or Account Value |
Group 2 Investments cannot exceed 70% of Contract Value or Account Value |
Group 3 Investments cannot exceed 10% of Contract Value or Account Value |
||
LVIP BlackRock Inflation Protected Bond Fund LVIP Delaware Bond Fund LVIP Delaware Diversified Floating Rate Fund LVIP Delaware Diversified Income Fund LVIP Delaware Limited-Term Diversified Income Fund LVIP Global Income Fund LVIP PIMCO Low Duration Bond Fund LVIP SSGA Bond Index Fund LVIP SSGA Short-Term Bond Index Fund LVIP Vanguard Bond Allocation Fund |
Any of the Subaccounts offered under the Contract, except for funds in Groups 1 and 3 and the fixed account. |
AB VPS Sustainable Global Thematic Portfolio American Funds Global Small Capitalization Fund Delaware VIP® Emerging Markets Series DWS Alternative Asset Allocation VIP Portfolio LVIP BlackRock Global Real Estate Fund LVIP Delaware REIT Fund LVIP Delaware SMID Cap Core Fund LVIP SSGA Emerging Markets 100 Fund MFS® VIT Utilities Series |
• | American Century VP Balanced Fund |
• | Fidelity VIP® Balanced Portfolio |
• | Franklin Allocation VIP Fund |
• | LVIP BlackRock Global Allocation Fund |
• | LVIP BlackRock Inflation Protected Bond Fund |
• | LVIP Delaware Bond Fund |
• | LVIP Delaware Diversified Floating Rate Fund |
• | LVIP Delaware Diversified Income Fund |
• | LVIP Delaware Limited-Term Diversified Income Fund |
• | LVIP Global Conservative Allocation Managed Risk Fund |
• | LVIP Global Growth Allocation Managed Risk Fund |
• | LVIP Global Income Fund |
• | LVIP Global Moderate Allocation Managed Risk Fund |
• | LVIP PIMCO Low Duration Bond Fund |
• | LVIP SSGA Bond Index Fund |
• | LVIP SSGA Conservative Index Allocation Fund |
• | LVIP SSGA Conservative Structured Allocation Fund |
• | LVIP SSGA Global Tactical Allocation Managed Volatility Fund |
• | LVIP SSGA Moderate Index Allocation Fund |
• | LVIP SSGA Moderate Structured Allocation Fund |
• | LVIP SSGA Moderately Aggressive Index Allocation Fund |
• | LVIP SSGA Moderately Aggressive Structured Allocation Fund |
• | LVIP SSGA Short-Term Bond Index Fund |
• | LVIP U.S. Growth Allocation Managed Risk Fund |
• | LVIP Vanguard Bond Allocation Fund |
• | MFS® VIT Total Return Series |