04/29/2024 | Press release | Distributed by Public on 04/29/2024 11:58
PROSPECTUS SUPPLEMENT
May 1, 2024
For
Flexible Solutions® VUL III
Issued by
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC. (GIAC)
The following supplemental information should be read in conjunction with the Prospectus dated May 1, 2019 and supplement dated May 1, 2020 for Flexible Solutions® VUL III issued through The Guardian Separate Account N.
The information below regarding your allocation options replaces the chart of variable investment options in your prospectus, as amended, in the section entitled "Your Allocation Options - The Variable Investment Options."
The following is a list of Funds available under the contract. More information about the Funds is available in the prospectuses for the Funds, which may be amended from time to time and can be found online at: https://Guardianlife.onlineprospectus.net/Guardianlife/fs_vul-iii/?ctype=supplement. You can also request this information at no cost by calling the Customer Service Office Contact Center at 1-888- GUARDIAN (1-888-482-7342) or by sending an email request to [email protected]. Depending on the optional benefits you choose, you may not be able to invest in certain Funds.
The current expenses and performance information below reflects fee and expenses of the Funds, but do not reflect the other fees and expenses that your contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Fund's past performance is not necessarily an indication of future performance.
As of December 31, 2023 | ||||||||||
Type/Investment Objective |
Portfolio Company And Adviser/SubAdviser |
Current Expenses |
1 Year Average Annual Total Return |
5 Year Average Annual Total Return |
10 Year Average Annual Total Return |
|||||
Long-term growth of capital. |
Davis Financial Portfolio Davis Selected Advisers, LP Davis Selected Advisers- NY, Inc. |
0.78% | 15.29% | 10.25% | 8.80% | |||||
Total return through a combination of growth and income. |
Davis Real Estate Portfolio Davis Selected Advisers, LP Davis Selected Advisers- NY, Inc. |
1.00% | 10.65% | 5.86% | 6.89% | |||||
Seeks reasonable income. The Fund will also consider the potential for capital appreciation. The Fund's goal is to achieve a yield which exceeds the composite yield on the securities comprising the S&P 500® Index. |
Fidelity VIP Equity-Income Portfolio (Service Class 2) Fidelity Management & Research Company and its affiliates Other investment advisers serve as sub-advisers for the fund. |
0.72% | 10.38% | 12.01% | 8.31% | |||||
Seeks as high a level of current income as is consistent with preservation of capital and liquidity. |
Fidelity VIP Government Money Market Portfolio (Service Class 2)1 Fidelity Management & Research Company and its affiliates Other investment advisers serve as sub-advisers for the fund. |
0.52% | 4.79% | 1.58% | 0.97% | |||||
Seeks investment results that correspond to the total return of common stocks publicly traded in the United States, as represented by the S&P 500® Index. |
Fidelity VIP Index 500 Portfolio (Initial) Fidelity Management & Research Company and its affiliates Geode Capital Management, LLC |
0.10% | 26.19% | 15.56% | 11.92% |
As of December 31, 2023 | ||||||||||
Type/Investment Objective |
Portfolio Company And Adviser/SubAdviser |
Current Expenses |
1 Year Average Annual Total Return |
5 Year Average Annual Total Return |
10 Year Average Annual Total Return |
|||||
The Fund seeks to provide capital appreciation and moderate current income while seeking to manage volatility. |
Guardian Balanced Allocation VIP Fund Park Avenue Institutional Advisers LLC Wellington Management Company LLP |
0.88% | 17.86% | 0.00% | 0.00% | |||||
The Fund seeks to provide a high level of current income and capital appreciation without undue risk to principal. |
Guardian Core Fixed Income VIP Fund Park Avenue Institutional Advisers LLC |
0.50% | 5.52% | 0.00% | 0.00% | |||||
The Fund seeks a high level of current income consistent with growth of capital. |
Guardian Equity Income VIP Fund Park Avenue Institutional Advisers LLC Wellington Management Company LLP |
0.55% | 7.41% | 0.00% | 0.00% | |||||
The Fund seeks capital appreciation. |
Guardian Integrated Research VIP Fund Park Avenue Institutional Advisers LLC Wellington Management Company LLP |
0.82% | 24.30% | 13.74% | 0.00% | |||||
The Fund seeks to maximize long-term growth. |
Guardian Large Cap Disciplined Growth VIP Fund Park Avenue Institutional Advisers LLC Wellington Management Company LLP |
0.87% | 41.88% | 17.36% | 0.00% | |||||
The Fund seeks long term growth of capital. |
Guardian Select Mid Cap Core VIP Fund Park Avenue Institutional Advisers LLC FIAM LLC |
0.87% | 16.30% | 0.00% | 0.00% | |||||
The Fund seeks to provide a high level of current income consistent with preservation of capital. |
Guardian Short Duration Bond VIP Fund Park Avenue Institutional Advisers LLC |
0.50% | 4.09% | 0.00% | 0.00% | |||||
The Fund seeks capital appreciation. |
Guardian Small Cap Core VIP Fund Park Avenue Institutional Advisers LLC Clearbridge Investments, LLC |
1.05% | 16.95% | 0.00% | 0.00% | |||||
The Fund seeks capital appreciation. |
Guardian Small-Mid Cap Core VIP Fund Park Avenue Institutional Advisers LLC Allspring Global Investments, LLC |
0.93% | 15.97% | 0.00% | 0.00% |
2 |
As of December 31, 2023 | ||||||||||
Type/Investment Objective |
Portfolio Company And Adviser/SubAdviser |
Current Expenses |
1 Year Average Annual Total Return |
5 Year Average Annual Total Return |
10 Year Average Annual Total Return |
|||||
The Fund seeks capital appreciation. |
Guardian Strategic Large Cap Core VIP Fund Park Avenue Institutional Advisers LLC AllianceBernstein L.P. |
0.84% | 20.15% | 0.00% | 0.00% | |||||
Seeks capital growth. |
Invesco V.I. American Franchise Fund (Series II) Invesco Advisers, Inc. |
1.11% | 40.60% | 15.88% | 11.42% | |||||
Long-term growth of capital. |
Invesco V.I. Core Equity Fund (Series II) Invesco Advisers, Inc. |
1.05% | 23.09% | 12.67% | 7.53% | |||||
Seeks both capital appreciation and current income. |
Invesco V.I. Equity and Income Fund (Series II) Invesco Advisers, Inc. |
0.82% | N/A | N/A | N/A | |||||
Seeks long-term growth of capital. |
Janus Henderson Research Portfolio (Service Shares) Janus Henderson Investors US LLC |
0.82% | 42.81% | 16.54% | 12.21% | |||||
To seek to provide growth of capital. |
Macquarie VIP Mid Cap Growth Series Service Class Formerly Delaware Ivy VIP Mid Cap Growth Class II Delaware Management Company, a series of Macquarie Investment Management Business Trust (a Delaware statutory trust) Macquarie Investment Management Global Limited |
1.10% | 19.59% | 14.63% | 10.47% | |||||
Seeks capital appreciation. |
MFS® Investors Trust Series (Service Class) Massachusetts Financial Services Company |
1.03% | 18.66% | 13.27% | 10.00% | |||||
Seeks capital appreciation. |
MFS® Research Series (Service Class) Massachusetts Financial Services Company |
1.04% | 22.12% | 14.13% | 10.55% | |||||
The Portfolio seeks maximum total return, consistent with preservation of capital and prudent investment management. |
PIMCO Total Return Portfolio (Advisor Class) PIMCO |
0.85% | 5.83% | 0.98% | 1.61% | |||||
Current income and long-term growth of capital. |
Pioneer Equity Income VCT Portfolio (Class II) Amundi Asset Management US Inc. |
1.08% | 7.17% | 9.08% | 8.16% |
3 |
As of December 31, 2023 | ||||||||||
Type/Investment Objective |
Portfolio Company And Adviser/SubAdviser |
Current Expenses |
1 Year Average Annual Total Return |
5 Year Average Annual Total Return |
10 Year Average Annual Total Return |
|||||
Seeks capital appreciation. |
Putnam VT Core Equity Fund IB Putnam Investment Management, LLC. Putnam Investments Limited (PIL) |
0.95% | 28.08% | 16.90% | 11.95% | |||||
Seeks long-term capital growth. |
Templeton Foreign VIP Fund (Class 2 Shares) Templeton Investment Counsel, LLC |
1.07% | 20.76% | 5.27% | 1.28% | |||||
Seeks to provide current income. Capital appreciation is a secondary objective. |
Victory High Yield VIP Series Victory Capital Management Inc. Park Avenue Institutional Advisers LLC |
0.89% | 11.41% | 4.98% | 4.38% | |||||
Long-term capital appreciation. |
Victory RS International VIP Series Victory Capital Management Inc. |
0.93% | 20.02% | 8.55% | 5.09% | |||||
Long-term capital growth. |
Victory RS Small Cap Growth Equity VIP Series Victory Capital Management Inc. |
0.88% | 20.40% | 5.63% | 6.48% | |||||
Long-term capital appreciation. |
Victory Sophus Emerging Markets VIP Series Victory Capital Management Inc. |
1.35% | 11.03% | 3.31% | 2.48% |
(1) | There is no assurance that this Fund will be able to maintain a stable net asset value per share. In addition, during extended periods of low interest rates, and partly as a result of asset-based separate account charges, the yield on this investment account may become low and possibly negative. |
Except as set forth herein, all other provisions of the prospectus and supplement noted above shall remain unchanged.
THIS PROSPECTUS SUPPLEMENT SHOULD BE RETAINED FOR FUTURE REFERENCE.
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