04/29/2024 | Press release | Distributed by Public on 04/29/2024 10:53
The following fund will be reorganized into…
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...the following acquiring Fund.*
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American Century VP Balanced Fund
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LVIP American Century Balanced Fund
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American Century VP Large Company Value Fund
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LVIP American Century Large Company Value Fund
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Former Fund Name
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New Fund Name*
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Delaware VIP® Emerging Markets Series
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Macquarie VIP Emerging Markets Series
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Delaware VIP® Small Cap Value Series
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Macquarie VIP Small Cap Value Series
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LVIP Delaware Bond Fund
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LVIP Macquarie Bond Fund
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LVIP Delaware Diversified Floating Rate Fund
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LVIP Macquarie Diversified Floating Rate Fund
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LVIP Delaware Diversified Income Fund
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LVIP Macquarie Diversified Income Fund
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LVIP Delaware Limited-Term Diversified Income Fund
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LVIP Macquarie Limited-Term Diversified Income Fund
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LVIP Delaware Mid Cap Value Fund
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LVIP Macquarie Mid Cap Value Fund
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LVIP Delaware SMID Cap Core Fund
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LVIP Macquarie SMID Cap Core Fund
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LVIP Delaware Social Awareness Fund
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LVIP Macquarie Social Awareness Fund
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LVIP Delaware U.S. REIT Fund
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LVIP Macquarie U.S. REIT Fund
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LVIP Delaware Value Fund
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LVIP Macquarie Value Fund
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LVIP Delaware Wealth Builder Fund
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LVIP Macquarie Wealth Builder Fund
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LVIP T. Rowe Price Growth Stock Fund
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LVIP AllianceBernstein Large Cap Growth Fund
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FEES AND EXPENSES
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Location in
Prospectus
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Charges for Early
Withdrawals
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There are no surrender charges associated with this Contract.
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•N/A
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Transaction
Charges
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There are no sales charges associated with this Contract.
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•N/A
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Ongoing Fees and
Expenses (annual
charges)
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Minimum and Maximum Annual Fee Table. The table below describes the 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. These charges do not reflect any
advisory fees paid to a financial intermediary from Contract Value or other assets of the
Contractowner. If such charges were reflected, the ongoing fees and expenses would be
higher.
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•Fee Tables
•Examples
•Charges and
Other
Deductions
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Annual Fee
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Minimum
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Maximum
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Base Contract
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1.00%1
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2.00%1
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Investment options (fund fees and
expenses)
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0.48%2
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1.60%2
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1 As a percentage of the Income Base.
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2As a percentage of average Account Value in the Subaccounts.
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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, based on current charges. This estimate assumes that you do not take
withdrawals from the Contract.
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Lowest Annual Cost: $3,031
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Highest Annual Cost: $4,063
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Assumes:
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Assumes:
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•Investment of $100,000
•5% annual appreciation
•Least expensive fund fees and
expenses
•No additional Purchase Payments,
transfers, or withdrawals
•No sales charges or advisory fees
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•Investment of $100,000
•5% annual appreciation
•Most expensive fund fees and expenses
•No additional Purchase Payments,
transfers, or withdrawals
•No sales charges or advisory fees
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RISKS
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Location in
Prospectus
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Risk of Loss
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•You can lose money by investing in this Contract, including loss of principal.
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•Principal Risks
•Investments of
the Variable
Annuity
Account
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Not a Short-Term
Investment
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•This Contract is not designed for short-term investing and is not appropriate for the
investor who needs ready access to cash.
•The benefits of tax deferral, long-term income, and living benefit protections mean
the Contract is more beneficial to investors with a long-term investment horizon.
•Withdrawals are subject to ordinary income tax and may be subject to tax penalties.
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•Principal Risks
•Surrender and
Withdrawals
•Fee Tables
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RISKS
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Location in
Prospectus
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Risks Associated
with Investment
Options
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•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 has its own unique risks.
•You should review the investment options before making an investment decision.
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•Principal Risks
•Investments of
the Variable
Annuity
Account
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Insurance
Company Risks
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•An investment in the Contract is subject to the risks related to Lincoln Life. Any
obligations, 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 Life, including our financial strength ratings,
is available upon request by calling 1-800-454-6265 or visiting
www.LincolnFinancial.com.
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•Principal Risks
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RESTRICTIONS
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Location in
Prospectus
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Investments
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•We reserve the right to remove or substitute any funds as investment options that
are available under the Contract.
•You are generally restricted to no more than 12 transfers between investment options
per Contract Year. Your ability to transfer between investment options may also be
restricted as a result of Investment Requirements if you have elected an optional
benefit.
•Investment Requirements apply to the Guaranteed Withdrawal Benefit.
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•Principal Risks
•Investments of
the Variable
Annuity
Account
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TAXES
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Location in
Prospectus
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Tax Implications
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•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 benefit 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.
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•Federal Tax
Matters
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CONFLICTS OF INTEREST
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Location in
Prospectus
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Investment
Professional
Compensation
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•Your financial professional may receive compensation for selling this Contract to you,
in the form of commissions, additional cash benefits (e.g., bonuses), and non-cash
compensation. We may share the revenue we earn on this Contract with your
investment professional's firm.
•This potential conflict of interest may influence your financial professional to
recommend this Contract over another investment for which the investment
professional is not compensated or compensated less.
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•Distribution of
the Contracts
•Principal Risks
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Exchanges
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•You should only exchange a 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.
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•N/A
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Investment Objective
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Fund and
Adviser/Sub-adviser1
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Current Expenses
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Average Annual Total
Returns (as of 12/31/2023)
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1 year
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5 year
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10 year
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|||
Long-term growth of capital.
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Invesco V.I. EQV International Equity
Fund - Series II Shares
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1.15%
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17.86%
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8.15%
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4.07%
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Long-term capital growth.
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LVIP AllianceBernstein Large Cap
Growth Fund - Service Class
(formerly LVIP T. Rowe Price Growth
Stock Fund)
advised by Lincoln Financial Investments
Corporation
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0.88%2
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45.95%
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13.04%
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11.39%
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A balance between a high level of
current income and growth of capital,
with an emphasis on growth of capital. A
fund of funds.
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LVIP American Balanced Allocation Fund
- Service Class
advised by Lincoln Financial Investments
Corporation
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0.93%2
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13.27%
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7.63%
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5.72%
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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.
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LVIP American Century Balanced Fund -
Service Class
(formerly American Century VP
Balanced Fund)
advised by Lincoln Financial Investments
Corporation
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1.02%2
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16.12%
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8.20%
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N/A
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Long-term capital growth, income is
secondary objective.
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LVIP American Century Large Company
Value Fund - Service Class
(formerly American Century VP Large
Company Value Fund)
advised by Lincoln Financial Investments
Corporation
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0.85%2
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3.78%
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10.37%
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7.58%
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A balance between a high level of
current income and growth of capital. A
fund of funds.
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LVIP American Global Balanced
Allocation Managed Risk Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
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0.95%
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11.41%
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5.39%
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4.14%
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Long-term growth of capital. A master-
feeder fund.
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LVIP American Global Growth Fund -
Service Class II
advised by Lincoln Financial Investments
Corporation
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1.03%
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22.16%
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13.24%
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9.17%
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Growth of capital. A master-feeder fund.
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LVIP American Growth Fund - Service
Class II
advised by Lincoln Financial Investments
Corporation
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0.95%
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37.99%
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18.26%
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13.94%
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Investment Objective
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Fund and
Adviser/Sub-adviser1
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Current Expenses
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Average Annual Total
Returns (as of 12/31/2023)
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1 year
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5 year
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10 year
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|||
Long-term growth of capital and income.
A master-feeder fund.
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LVIP American Growth-Income Fund -
Service Class II
advised by Lincoln Financial Investments
Corporation
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0.89%
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25.72%
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12.97%
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10.53%
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A high level of current income with
some consideration given to growth of
capital. A fund of funds.
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LVIP American Income Allocation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
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0.93%2
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10.40%
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5.73%
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4.51%
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Long-term growth of capital. A master-
feeder fund.
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LVIP American International Fund -
Service Class II
advised by Lincoln Financial Investments
Corporation
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1.15%
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15.41%
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4.45%
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3.03%
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Capital Appreciation.
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LVIP Baron Growth Opportunities Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
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1.15%2
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17.81%
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13.66%
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9.35%
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High total investment return.
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LVIP BlackRock Global Allocation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
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0.98%2
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13.35%
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N/A
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N/A
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To maximize real return, consistent with
preservation of real capital and prudent
investment management.
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LVIP BlackRock Inflation Protected Bond
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
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0.88%
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4.81%
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2.90%
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1.93%
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Total return through a combination of
current income and long-term capital
appreciation.
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LVIP BlackRock Real Estate Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
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1.07%2
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12.79%
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4.50%
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3.59%
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Long-term capital appreciation.
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LVIP Dimensional U.S. Core Equity 1
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
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0.75%2
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22.36%
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14.59%
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10.69%
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To maximize long-term capital
appreciation.
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LVIP Franklin Templeton Multi-Factor
Emerging Markets Equity Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
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0.75%2
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9.76%
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2.86%
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1.34%
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To maximize long-term capital
appreciation.
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LVIP Franklin Templeton Multi-Factor
International Equity Fund - Service Class
advised by Lincoln Financial Investments
Corporation
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0.66%2
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18.62%
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6.47%
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4.13%
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To maximize long-term capital
appreciation.
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LVIP Franklin Templeton Multi-Factor
Large Cap Equity Fund - Service Class
advised by Lincoln Financial Investments
Corporation
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0.61%2
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17.09%
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12.53%
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9.79%
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To maximize long-term capital
appreciation.
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LVIP Franklin Templeton Multi-Factor
SMID Cap Equity Fund - Service Class
advised by Lincoln Financial Investments
Corporation
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0.64%2
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15.25%
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11.14%
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6.89%
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Investment Objective
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Fund and
Adviser/Sub-adviser1
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Current Expenses
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Average Annual Total
Returns (as of 12/31/2023)
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1 year
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5 year
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10 year
|
|||
A balance between a high level of
current income and growth of capital,
with an emphasis on growth of capital. A
fund of funds.
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LVIP Global Moderate Allocation
Managed Risk Fund - Service Class
advised by Lincoln Financial Investments
Corporation
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1.00%2
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11.56%
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4.30%
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3.30%
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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).
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LVIP Government Money Market Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
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0.64%2
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4.48%
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1.46%
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0.87%
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Current income and some capital
appreciation. A fund of funds.
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LVIP JPMorgan Retirement Income Fund
- Service Class
advised by Lincoln Financial Investments
Corporation
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0.93%2
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11.32%
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4.75%
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3.68%
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Maximum current income (yield)
consistent with a prudent investment
strategy.
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LVIP Macquarie Bond Fund - Service
Class3
(formerly LVIP Delaware Bond Fund)
advised by Lincoln Financial Investments
Corporation
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0.72%
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5.57%
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1.14%
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1.64%
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Total return.
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LVIP Macquarie Diversified Floating Rate
Fund - Service Class3
(formerly LVIP Delaware Diversified
Floating Rate Fund)
advised by Lincoln Financial Investments
Corporation
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0.88%2
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5.31%
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2.13%
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1.43%
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Maximum long-term total return
consistent with reasonable risk.
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LVIP Macquarie Diversified Income Fund
- Service Class3
(formerly LVIP Delaware Diversified
Income Fund)
advised by Lincoln Financial Investments
Corporation
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0.84%2
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5.94%
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1.75%
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1.80%
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Maximum total return, consistent with
reasonable risk.
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LVIP Macquarie Limited-Term Diversified
Income Fund - Service Class3
(formerly LVIP Delaware Limited-Term
Diversified Income Fund)
advised by Lincoln Financial Investments
Corporation
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0.83%2
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4.68%
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1.56%
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1.36%
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To maximize long-term capital
appreciation.
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LVIP Macquarie Mid Cap Value Fund -
Service Class3
(formerly LVIP Delaware Mid Cap Value
Fund)
advised by Lincoln Financial Investments
Corporation
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0.78%
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10.86%
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11.49%
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8.24%
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Long-term capital appreciation.
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LVIP Macquarie SMID Cap Core Fund -
Service Class3
(formerly LVIP Delaware SMID Cap Core
Fund)
advised by Lincoln Financial Investments
Corporation
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1.10%2
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16.10%
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11.91%
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8.06%
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Investment Objective
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Fund and
Adviser/Sub-adviser1
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Current Expenses
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Average Annual Total
Returns (as of 12/31/2023)
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1 year
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5 year
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10 year
|
|||
To maximize long-term capital
appreciation.
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LVIP Macquarie Social Awareness Fund -
Service Class3
(formerly LVIP Delaware Social
Awareness Fund)
advised by Lincoln Financial Investments
Corporation
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0.80%
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29.72%
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15.45%
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10.93%
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Maximum long-term total return, with
capital appreciation as a secondary
objective.
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LVIP Macquarie U.S. REIT Fund -
Service Class3
(formerly LVIP Delaware U.S. REIT
Fund)
advised by Lincoln Financial Investments
Corporation
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1.13%2
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12.24%
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6.14%
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5.94%
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Long-term capital appreciation.
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LVIP Macquarie Value Fund - Service
Class3
(formerly LVIP Delaware Value Fund)
advised by Lincoln Financial Investments
Corporation
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0.98%
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3.18%
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7.78%
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7.54%
|
To provide a responsible level of income
and the potential for capital appreciation.
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LVIP Macquarie Wealth Builder Fund -
Service Class3
(formerly LVIP Delaware Wealth Builder
Fund)
advised by Lincoln Financial Investments
Corporation
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0.96%2
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9.64%
|
5.69%
|
4.19%
|
Long-term capital appreciation.
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LVIP MFS International Growth Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
1.05%2
|
14.42%
|
9.55%
|
6.31%
|
Capital Appreciation.
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LVIP MFS Value Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.87%2
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7.80%
|
11.10%
|
8.30%
|
Current income consistent with the
preservation of capital.
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LVIP Mondrian Global Income Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
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0.90%2
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3.76%
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-1.16%
|
0.01%
|
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
advised by Lincoln Financial Investments
Corporation
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1.00%2
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19.81%
|
5.77%
|
3.19%
|
To match as closely as practicable,
before fees and expenses, the
performance of the Bloomberg U.S.
Aggregate Index.
|
LVIP SSGA Bond Index Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
|
0.62%2
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5.03%
|
0.52%
|
1.23%
|
To approximate as closely as practicable,
before fees and expenses, the
performance of a broad market index of
non-U.S. foreign securities.
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LVIP SSGA International Index Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.64%2
|
17.27%
|
7.70%
|
3.76%
|
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
advised by Lincoln Financial Investments
Corporation
|
0.76%
|
13.28%
|
7.11%
|
5.07%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
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
advised by Lincoln Financial Investments
Corporation
|
0.48%
|
25.70%
|
15.12%
|
11.49%
|
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
advised by Lincoln Financial Investments
Corporation
|
0.63%2
|
16.21%
|
9.25%
|
6.47%
|
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 Structured Moderate Allocation
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.82%
|
12.81%
|
6.86%
|
4.96%
|
To maximize capital appreciation.
|
LVIP T. Rowe Price Structured Mid-Cap
Growth Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.97%2
|
20.87%
|
13.22%
|
10.54%
|
Capital growth.
|
LVIP Wellington Capital Growth Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.95%2
|
38.35%
|
16.68%
|
13.63%
|
Long-term capital appreciation.
|
LVIP Wellington SMID Cap Value Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
1.04%2
|
16.95%
|
12.17%
|
7.44%
|
Long-term capital appreciation.
|
Macquarie VIP Emerging Markets Series
- Service Class3
(formerly Delaware VIP® Emerging
Markets Series)
advised by Delaware Management
Company
|
1.48%2
|
13.45%
|
3.87%
|
2.38%
|
Capital Appreciation.
|
Macquarie VIP Small Cap Value Series -
Service Class3
(formerly Delaware VIP® Small Cap
Value Series)
advised by Delaware Management
Company
|
1.08%
|
9.10%
|
9.87%
|
6.77%
|
Total return.
|
MFS® VIT Utilities Series - Service Class
advised by Massachusetts Financial
Services Company
|
1.04%2
|
-2.33%
|
8.05%
|
6.13%
|
Group 1
Investments must be at least 40% of Contract Value or Account Value.
|
Group 2
Investments cannot exceed 60% of Contract Value or Account Value.
|
LVIP BlackRock Inflation Protected Bond Fund
LVIP Government Money Market Fund
LVIP Macquarie Bond Fund
LVIP Macquarie Diversified Floating Rate Fund
LVIP Macquarie Diversified Income Fund
LVIP Macquarie Limited-Term Diversified Income Fund
LVIP Mondrian Global Income Fund
LVIP SSGA Bond Index Fund
|
Invesco V.I. EQV International Equity Fund
LVIP AllianceBernstein Large Cap Fund
LVIP American Century Large Company Value Fund
LVIP American Global Growth Fund
LVIP American Growth-Income Fund
LVIP American International Fund
LVIP Baron Growth Opportunities Fund
LVIP BlackRock Real Estate Fund
LVIP Dimensional U.S. Core Equity 1 Fund
LVIP Franklin Templeton Multi-Factor Emerging Markets Equity Fund
LVIP Franklin Templeton Multi-Factor International Equity Fund
LVIP Franklin Templeton Multi-Factor Large Cap Equity Fund
LVIP Franklin Templeton Multi-Factor SMID Cap Equity Fund
LVIP Macquarie Mid Cap Value Fund
LVIP Macquarie SMID Cap Core Fund
LVIP Macquarie Social Awareness Fund
LVIP Macquarie U.S. REIT Fund
LVIP Macquarie Value Fund
LVIP MFS International Growth Fund
LVIP MFS Value Fund
LVIP Mondrian International Value Fund
LVIP SSGA International Index Fund
LVIP SSGA S&P 500 Index Fund
LVIP T. Rowe Price Structured Mid-Cap Growth Fund
LVIP Wellington Capital Growth Fund
LVIP Wellington SMID Cap Value Fund
Macquarie VIP Emerging Markets Series
Macquarie VIP Small Cap Value Series
MFS VIT Utilities Series
|