04/19/2022 | Press release | Distributed by Public on 04/19/2022 11:59
Item | Page |
Special Terms | 4 |
Important Information You Should Consider About the Lincoln Investor Advantage® Fee-Based Variable Annuity Contract | 5 |
Overview of the Contract | 6 |
Fee Tables | 8 |
Principal Risks | 9 |
Investments of the Variable Annuity Account | 10 |
Charges and Other Deductions | 13 |
The Contracts | 14 |
Purchase Payments | 15 |
Large Account Credit | 15 |
Transfers On or Before the Annuity Commencement Date | 17 |
Surrenders and Withdrawals | 19 |
Benefits Available Under the Contract | 20 |
Death Benefits | 21 |
i4LIFE® Advantage | 24 |
Annuity Payouts | 28 |
Fixed Side of the Contract | 29 |
Distribution of the Contracts | 31 |
Federal Tax Matters | 32 |
Additional Information | 37 |
Voting Rights | 37 |
Return Privilege | 38 |
State Regulation | 38 |
Records and Reports | 38 |
Legal Proceedings | 39 |
Appendix A- Funds Available Under The Contract | A-1 |
FEES AND EXPENSES |
Location in Prospectus |
|
Charges for Early Withdrawals | There are no surrender charges associated with this Contract. | • N/A |
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. | • N/A |
Ongoing Fees and Expenses (annual charges) | 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 expense would be higher. | • Fee Tables• Examples• Charges and Other Deductions |
Annual Fee | Minimum | Maximum |
Base Contract | 0.32%1 | 0.32%1 |
Investment options (fund fees and expenses) | 0.46%1 | 7.59%1 |
Optional benefits available for an additional charge (for a single optional benefit, if elected) | 0.40% 1 | 0.40% 1 |
1 As a percentage of average daily net assets in the Subaccounts. | ||
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. | ||
Lowest Annual Cost: $966 | Highest Annual Cost: $7,067 | |
Assumes: | Assumes: | |
• Investment of $100,000• 5% annual appreciation• Least expensive fund fees and expenses• No optional benefits• No additional Purchase Payments, transfers, or withdrawals• No sales charges or advisory fees | • Investment of $100,000• 5% annual appreciation• Most expensive combination of optional benefits and fund fees and expenses• No additional Purchase Payments, transfers, or withdrawals• No sales charges or advisory fees | |
RISKS |
Location in Prospectus |
|
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. • The benefits of tax deferral and long-term income also mean the Contract is more beneficial to investors with a long-term investment horizon. | • Principal Risks• Surrender and Withdrawals• Fee Tables |
RISKS |
Location in Prospectus |
|
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 Life, including our financial strength ratings, is available upon request by calling 1-800-454-6265 or visiting www.LincolnFinancial.com. | • Principal Risks |
RESTRICTIONS |
Location in Prospectus |
|
Investments | • 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 | • You are required to have a certain level of Contract Value for some new elections of i4LIFE® Advantage. • If you elect i4LIFE® Advantage, you may be limited in the amount of Purchase Payments that you can make (and when).• If you elect to pay third-party advisory fees out of your Contract Value, this deduction may reduce the any values under your Contract and may be subject to federal and state income taxes and a 10% federal penalty tax. | • The Contracts• The Contracts - i4LIFE Advantage®• Federal Tax Matters - Payment of Investment Advisory Fees |
TAXES |
Location in Prospectus |
|
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 |
|
Exchanges | • 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. |
• | 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. |
• | 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). |
• | Fees Associated with Fee-Based Financial Plans. You may provide authorization to have your advisory fees paid to your financial professional's investment firm from your Contract Value. Advisory fee withdrawals may not be treated as a distribution for federal tax purposes under certain conditions. Advisory fee withdrawals may not be available in all states, and certain firms may not allow withdrawals to pay advisory fees from your Contract Value. Please check with your financial professional. |
If you elect to pay a third-party advisory fee out of your Contract Value, this deduction may reduce the Death Benefit and other guaranteed benefits, and may be subject to federal and state income taxes and a 10% federal penalty tax. See The Contracts - Death Benefits and Federal Tax Matters - Payment of Investment Advisory Fees. |
There are no sales charges, deferred sales charges, or surrender charges associated with this Contract. |
|
Transfer Charge:*
|
$25 |
* | 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 and portfolio rebalancing transfers. |
|
Base Contract Expenses (as a percentage of average Account Value in the Subaccounts)1 |
||
Account Value Death Benefit
|
0.30% | |
Optional Benefit Expenses
|
||
i4LIFE® Advantage1 |
||
Current Annual Charge
|
0.40% |
1 | The mortality and expense risk charge and administrative charge rates together are 0.30% on and after the Annuity Commencement Date for all contracts. If your Contract Value had reached the $1 million threshold immediately prior to the Annuity Commencement Date, this charge will be reduced by 0.15%. |
2 | As an annualized percentage of average Account Value, computed daily. This charge is assessed on and after the effective date of i4LIFE® Advantage and is added to your base contract expense. This charge continues during the Access Period. During the Lifetime Income Period, the i4LIFE® Advantage charge rate of 0.40% is added to the Account Value Death base contract expense. See Charges and Other Deductions - i4LIFE® Advantage Charge for more information. |
|
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 reimbursements.
|
0.46% | 7.59% | ||
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
|
0.43% | 2.02% |
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 | |||
$8,153 | $23,728 | $38,288 | $70,670 |
1 year | 3 years | 5 years | 10 years | |||
$8,153 | $23,728 | $38,288 | $70,670 |
• | remove, combine, or add Subaccounts and make the new Subaccounts available to you at our discretion; |
• | transfer assets supporting the contracts from one Subaccount to another or from the VAA to another separate account; |
• | combine the VAA with other separate accounts and/or create new separate accounts; |
• | deregister the VAA under the 1940 Act; and |
• | operate the VAA as a management investment company under the 1940 Act or as any other form permitted by law. |
• | processing applications for and issuing the contracts; |
• | processing purchases and redemptions of fund shares as required (including dollar cost averaging, portfolio rebalancing, and automatic withdrawal services - See Additional Services and the SAI for more information on these programs); |
• | maintaining records; |
• | administering Annuity Payouts; |
• | furnishing accounting and valuation services (including the calculation and monitoring of daily Subaccount values); |
• | reconciling and depositing cash receipts; |
• | providing contract confirmations; |
• | providing toll-free inquiry services; and |
• | furnishing telephone and other electronic surrenders, withdrawals and fund transfer services. |
• | the risk that Annuitants upon which Annuity Payouts are based live longer than we assumed when we calculated our guaranteed rates (these rates are incorporated in the Contract and cannot be changed); |
• | the risk that our costs in providing the services will exceed our revenues from contract charges (which we cannot change). |
Account Value Death Benefit |
|
Mortality and expense risk charge
|
0.20% |
Administrative charge
|
0.10% |
Total base contract expense
|
0.30% |
• | the use of mass enrollment procedures, |
• | the performance of administrative or sales functions by the employer, |
• | the use by an employer of automated techniques in submitting deposits or information related to deposits on behalf of its employees, or |
• | any other circumstances which reduce distribution or administrative expenses. |
1. | The total value of the fund shares held in the Subaccount is calculated by multiplying the number of fund shares owned by the Subaccount at the beginning of the Valuation Period by the net asset value per share of the fund at the end of the Valuation Period, and adding any dividend or other distribution of the fund if an ex-dividend date occurs during the Valuation Period; minus |
2. | The liabilities of the Subaccount at the end of the Valuation Period; these liabilities include daily charges imposed on the Subaccount, and may include a charge or credit with respect to any taxes paid or reserved for by us that we determine result from the operations of the VAA; and |
3. | The result is divided by the number of Subaccount units outstanding at the beginning of the Valuation Period. |
• | total fixed account transfers are limited to 25% of the value of that fixed account in any 12-month period; and |
• | the minimum amount that can be transferred is $300 or, if less, the amount in the fixed account. |
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. |
• 0.30% |
• Poor investment performance could significantly reduce the benefit.• Withdrawals could significantly reduce the benefit. |
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. |
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. |
Automatic Withdrawal Service | Allows you to take periodic withdrawals from your Contract automatically. | None | • Automatically terminates once i4LIFE® Advantage begins. |
Advisory Fee Withdrawals | Allows you to take withdrawals from your Contract to pay the advisory fees. | None |
• The deduction of advisory fees from Contract Value may reduce the Death Benefit and other guaranteed benefits (unless the requirements listed above are met), and may be subject to federal and state income taxes and a 10% federal penalty tax. |
Optional Benefits - Available for Election | |||
Name of Benefit | Purpose | Maximum Fee | Brief Description of Restrictions / Limitations |
i4LIFE® Advantage | Provides:• Variable periodic Regular Income Payments for life.• The ability to make additional withdrawals and surrender the Contract during the Access Period. | • 0.40% in addition to your base contract expense | • Withdrawals could significantly reduce or terminate the benefit.• Restrictions apply to the length of the Access Period.• Additional Purchase Payments may be subject to restrictions. |
upon death of: | and... | and... | Death Benefit proceeds pass to: |
Contractowner | There is a surviving joint owner | The Annuitant is living or deceased | Joint owner |
Contractowner | There is no surviving joint owner | The Annuitant is living or deceased | Designated Beneficiary |
Contractowner | There is no surviving joint owner and the Beneficiary predeceases the Contractowner | The Annuitant is living or deceased | Contractowner's estate |
Annuitant | The Contractowner is living | There is no contingent Annuitant | The youngest Contractowner becomes the contingent Annuitant and the Contract continues. The Contractowner may waive* this continuation and receive the Death Benefit proceeds. |
upon death of: | and... | and... | Death Benefit proceeds pass to: |
Annuitant | The Contractowner is living | The contingent Annuitant is living | Contingent Annuitant becomes the Annuitant and the Contract continues |
Annuitant** | The Contractowner is a trust or other non-natural person | No contingent Annuitant allowed with non-natural Contractowner | Designated Beneficiary |
* | Notification from the Contractowner to receive the Death Benefit proceeds must be received within 75 days of the death of the Annuitant. |
** | Death of Annuitant is treated like death of the Contractowner. |
1. | an original certified death certificate or any other proof of death satisfactory to us; and |
2. | written authorization for payment; and |
3. | all required claim forms, fully completed (including selection of a settlement option). |
• | if any Beneficiary dies before the Contractowner, that Beneficiary's interest will go to any other Beneficiaries named, according to their respective interests; and/or |
• | if no Beneficiary survives the Contractowner, the proceeds will be paid to the Contractowner's estate. |
• | the Annuity Commencement Date; |
• | the value of the amount being DCA'd is depleted; or |
• | you cancel the program by written request or by telephone if we have your telephone authorization on file. |
Minimum Access Period | Maximum Access Period | |
i4LIFE® Advantage | 5 years |
The length of time between your age and age 115 for nonqualified contracts; age 100 for qualified contracts |
• | the date you will receive the initial Regular Income Payment; |
• | the frequency of the payments (monthly, quarterly, semi-annually or annually); |
• | the frequency the payment is recalculated; |
• | the assumed investment return (AIR); and |
• | the date the Access Period ends and the Lifetime Income Period begins. |
• | the age and sex of the Annuitant and Secondary Life, if applicable; |
• | the length of the Access Period selected; |
• | the frequency of the Regular Income Payments; |
• | the AIR selected; and |
• | the Individual Annuity Mortality table specified in your Contract. |
• | the age and sex of the Annuitant and Secondary Life (if living); |
• | the frequency of the Regular Income Payments; |
• | the AIR selected; and |
• | the Individual Annuity Mortality table specified in your Contract. |
1. | an original certified death certificate or any other proof of death satisfactory to us; and |
2. | written authorization for payment; and |
3. | all required claim forms, fully completed (including selection of a settlement option). |
• | the total amount applied under this option divided by the Annuity Unit value for the date payouts begin, minus |
• | the Annuity Units represented by each payout to the Annuitant multiplied by the number of payouts paid before death. |
• | proof, satisfactory to us, of the death; |
• | written authorization for payment; and |
• | all claim forms, fully completed. |
• | the Contract Value on the Annuity Commencement Date, less any applicable premium taxes; |
• | the annuity tables contained in the Contract; |
• | the annuity option selected; and |
• | the investment performance of the fund(s) selected. |
1. | Determine the dollar amount of the first periodic payout; then |
2. | Credit the Contract with a fixed number of Annuity Units equal to the first periodic payout divided by the Annuity Unit value; and |
3. | Calculate the value of the Annuity Units each period thereafter. |
• | your Contract Value drops below certain state specified minimum amounts ($2,000 or less) for any reason, including if your Contract Value decreases due to the performance of the Subaccounts you selected; |
• | no Purchase Payments have been received for three (3) full, consecutive Contract Years; and |
• | the annuity benefit at the Annuity Commencement Date would be less than $20.00 per month. |
• | when the NYSE is closed (other than weekends and holidays); |
• | times when market trading is restricted or the SEC declares an emergency, and we cannot value units or the funds cannot redeem shares; or |
• | when the SEC so orders to protect Contractowners. |
• | An individual must own the Contract (or the Code must treat the Contract as owned by an individual). |
• | The investments of the VAA must be "adequately diversified" in accordance with Treasury regulations. |
• | Your right to choose particular investments for a Contract must be limited. |
• | The Annuity Commencement Date must not occur near the end of the Annuitant's life expectancy. |
• | Contracts in which the named owner is a trust or other entity that holds the Contract as an agent for an individual; however, this exception does not apply in the case of any employer that owns a contract to provide deferred compensation for its employees; |
• | Immediate annuity contracts, purchased with a single premium, when the annuity starting date is no later than a year from purchase and substantially equal periodic payments are made, not less frequently than annually, during the Annuity Payout period; |
• | Contracts acquired by an estate of a decedent; |
• | Certain qualified contracts; |
• | Contracts purchased by employers upon the termination of certain qualified plans; and |
• | Certain contracts used in connection with structured settlement agreements. |
• | If the Beneficiary receives Death Benefits under an Annuity Payout option, they are taxed in the same manner as Annuity Payouts. |
• | If the Beneficiary does not receive Death Benefits under an Annuity Payout option, they are taxed in the same manner as a withdrawal. |
• | If Death Benefits are received in accordance with the existing Annuity Payout option following the death of a Contractowner who is not the Annuitant, they are excludible from income in the same manner as the Annuity Payout prior to the death of the Contractowner. |
• | If Death Benefits are received in accordance with the existing Annuity Payout option following the death of the Annuitant (whether |
or not the Annuitant is also the Contractowner), the Death Benefits are excludible from income if they do not exceed the investment in the Contract not yet distributed from the Contract. All Annuity Payouts in excess of the investment in the Contract not previously received are includible in income. | |
• | If Death Benefits are received in a lump sum, the Code imposes tax on the amount of Death Benefits which exceeds the amount of Purchase Payments not previously received. |
• | you receive on or after you reach 59½, |
• | you receive because you became disabled (as defined in the Code), |
• | you receive from an immediate annuity, |
• | a Beneficiary receives on or after your death, or |
• | you receive as a series of substantially equal periodic payments based on your life or life expectancy (non-natural owners holding as agent for an individual do not qualify). |
• | Individual Retirement Accounts and Annuities ("Traditional IRAs") |
• | Roth IRAs |
• | Traditional IRA that is part of a Simplified Employee Pension Plan ("SEP") |
• | SIMPLE 401(k) plans (Savings Incentive Matched Plan for Employees) |
• | 401(a) / (k) plans (qualified corporate employee pension and profit-sharing plans) |
• | 403(a) plans (qualified annuity plans) |
• | 403(b) plans (public school system and tax-exempt organization annuity plans) |
• | H.R. 10 or Keogh Plans (self-employed individual plans) |
• | 457(b) plans (deferred compensation plans for state and local governments and tax-exempt organizations) |
• | Increased the required beginning date measuring age from 70½ to 72 for any participant or IRA owner who did not attain age 70½ prior to January 1, 2020. As a result, required minimum distributions are generally required to begin by April 1 of the year following the year in which a participant or IRA owner reached age 72. |
• | Eliminated the age 70½ limit for making contributions to an IRA. Beginning in 2020, an IRA owner can make contributions to his or her IRA at any age. |
• | Changed the required minimum distribution rules that apply after the death of a participant or IRA owner. |
• | Created the "Qualified Birth or Adoption" exception to the 10% additional tax on early distributions. |
• | Federal tax rules limit the amount of Purchase Payments or contributions that can be made, and the tax deduction or exclusion that may be allowed for the contributions. These limits vary depending on the type of qualified retirement plan and the participant's specific circumstances (e.g., the participant's compensation). |
• | Minimum annual distributions are required under some qualified retirement plans once you reach age 72 or retire, if later as described below. |
• | Loans are allowed under certain types of qualified retirement plans, but Federal income tax rules prohibit loans under other types of qualified retirement plans. For example, Federal income tax rules permit loans under some section 403(b) plans, but prohibit loans under Traditional and Roth IRAs. If allowed, loans are subject to a variety of limitations, including restrictions as to the loan amount, the loan's duration, the rate of interest, and the manner of repayment. Your Contract or plan may not permit loans. |
• | Distribution received on or after the Annuitant reaches 59½, |
• | Distribution received on or after the Annuitant's death or because of the Annuitant's disability (as defined in the Code), |
• | Distribution received as a series of substantially equal periodic payments based on the Annuitant's life (or life expectancy), |
• | Distribution received as reimbursement for certain amounts paid for medical care, or |
• | Distribution received for a "qualified birth or adoption" event. |
• | deduction of any account fee or rider charges; |
• | crediting of Large Account Credits, if applicable; |
• | any rebalancing event under the portfolio rebalancing service; |
• | any transfer or withdrawal under any applicable additional service: dollar cost averaging, AWS, or the cross-reinvestment service; and |
• | Regular Income Payments from i4LIFE® Advantage. |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
||
1 year | 5 year | 10 year | |||
Long-term growth of capital. |
AB VPS Small/Mid Cap Value Portfolio - Class B This fund is not available in contracts issued on or after May 24, 2021. |
1.05% | 35.60% | 9.88% | 12.85% |
Seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of its underlying index, the Alerian Energy Infrastructure Index. A master-feeder fund. | ALPS/Alerian Energy Infrastructure Portfolio - Class III | 1.30%2 | 37.77% | -0.04% | N/A |
Maximize total return. | ALPS/Red Rocks Global Opportunity Portfolio - Class III | 1.64%2 | 23.93% | 15.66% | N/A |
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 capital growth, income is secondary objective. | American Century VP Large Company Value Fund - Class II | 0.87%2 | 21.53% | 10.07% | 11.85% |
High total return (including income and capital gains) consistent with preservation of capital over the long term. |
American Funds Asset Allocation Fund - Class 4 |
0.80% | 14.84% | 11.43% | 11.13% |
Seeks to provide a level of current income that exceeds the average yield on U.S. stocks generally and to provide a growing stream of income over the years. | American Funds Capital Income Builder® - Class 4 | 0.77%2 | 14.68% | 7.97% | 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% |
To provide current income and preservation of capital. |
American Funds Mortgage Fund - Class 4 |
0.75%2 | -0.78% | 2.25% | 2.04% |
Long-term capital appreciation. |
American Funds New World Fund® - Class 4 |
1.07%2 | 4.63% | 12.96% | 8.43% |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
||
1 year | 5 year | 10 year | |||
To produce income and to provide an opportunity for growth of principal consistent with sound common stock investing. |
American Funds Washington Mutual Investors Fund - Class 4 |
0.77%2 | 27.51% | 12.22% | 13.53% |
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% |
Capital Appreciation. |
ClearBridge Variable Aggressive Growth Portfolio - Class II advised by Legg Mason Partners Fund Advisor, LLC |
1.08% | 10.04% | 11.38% | 13.53% |
Long-term growth of capital. |
ClearBridge Variable Large Cap Growth Portfolio - Class II advised by Legg Mason Partners Fund Advisor, LLC |
0.99% | 21.63% | 21.22% | N/A |
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% |
Total return. | Columbia VP Commodity Strategy Fund - Class 2 | 1.00%2 | 32.01% | 4.11% | N/A |
High total return through current income and, secondarily, through capital appreciation. | Columbia VP Emerging Markets Bond Fund - Class 2 | 1.01% | -2.45% | 3.92% | N/A |
Total return, consisting of current income and capital appreciation. | Columbia VP Strategic Income Fund - Class 2 | 0.93%2 | 1.63% | 4.67% | 4.53% |
Total return. | Delaware Ivy VIP Asset Strategy Portfolio - Class II3 | 0.87%2 | 10.44% | 11.36% | 8.01% |
Capital growth and appreciation. | Delaware Ivy VIP Energy Portfolio - Class II3 | 1.22% | 42.00% | -11.79% | -4.25% |
To seek to provide total return through a combination of high current income and capital appreciation. | Delaware Ivy VIP High Income Portfolio - Class II3 | 0.95% | 6.06% | 5.48% | 6.60% |
Growth of capital. | Delaware Ivy VIP Mid Cap Growth Portfolio - Class II3 | 1.10%2 | 16.36% | 24.85% | 17.05% |
Growth of capital. | Delaware Ivy VIP Science and Technology Portfolio - Class II3 | 1.14% | 15.17% | 23.88% | 19.46% |
Growth of capital. | Delaware Ivy VIP Small Cap Growth Portfolio - Class II3 | 1.14%2 | 3.99% | 15.83% | 12.85% |
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% |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
||
1 year | 5 year | 10 year | |||
Capital Appreciation. A fund of funds. |
DWS Alternative Asset Allocation VIP Portfolio - Class B This fund is not available in contracts issued on or after May 24, 2021. |
1.26% | 12.35% | 5.59% | 3.89% |
To provide a high level of current income. | Eaton Vance VT Floating-Rate Income Fund - Initial Class | 1.18% | 3.63% | 3.19% | 3.53% |
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% |
High total return. A fund of funds. |
Fidelity® VIP FundsManager® 50% Portfolio - Service Class 2 This fund is not available in contracts issued on or after May 24, 2021. |
0.84%2 | 9.88% | 9.75% | 8.18% |
To achieve capital appreciation. | Fidelity® VIP Growth Portfolio - Service Class 2 | 0.85% | 22.90% | 25.98% | 19.40% |
Long-term growth of capital. | Fidelity® VIP Mid Cap Portfolio - Service Class 2 | 0.86% | 25.31% | 13.32% | 13.00% |
High level of current income, and may also seek capital appreciation. | Fidelity® VIP Strategic Income Portfolio - Service Class 2 | 0.91% | 3.44% | 5.11% | 4.47% |
To provide capital appreciation. | First Trust Capital Strength Portfolio - Class I | 1.10%2 | 25.30% | N/A | N/A |
To provide total return. A fund of funds. | First Trust Dorsey Wright Tactical Core Portfolio - Class I | 1.30%2 | 13.87% | 10.57% | N/A |
To provide capital appreciation. | First Trust International Developed Capital Strength Portfolio - Class I | 1.20%2 | 19.24% | N/A | N/A |
To maximize current income, with a secondary objective of capital appreciation. | First Trust Multi Income Allocation Portfolio - Class I | 1.16%2 | 12.68% | 6.38% | N/A |
To provide total return by allocating among dividend-paying stocks and investment grade bonds. | First Trust/Dow Jones Dividend & Income Allocation Portfolio - Class I6, | 1.19% | 12.25% | 9.54% | 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% |
Balance of growth of capital and income. A fund of funds. |
Franklin Multi-Asset Variable Conservative Growth - Class II advised by Legg Mason Partners Fund Advisor, LLC This fund is not available in contracts issued on or after May 24, 2021. |
0.94% | 11.12% | N/A | N/A |
Capital appreciation; income is a secondary consideration. |
Franklin Mutual Shares VIP Fund - Class 4 This fund is not available in contracts issued on or after May 24, 2021. |
1.08% | 19.06% | 6.33% | 8.89% |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
||
1 year | 5 year | 10 year | |||
Long-term capital appreciation; preservation of capital is also an important consideration. | Franklin Rising Dividends VIP Fund - Class 4 | 0.98% | 26.63% | 16.69% | 14.28% |
Long-term total return. | Franklin Small Cap Value VIP Fund - Class 4 | 1.01% | 25.17% | 9.82% | 12.01% |
Long-term capital growth. | Franklin Small-Mid Cap Growth VIP Fund - Class 4 | 1.18% | 9.86% | 20.72% | 15.59% |
Seeks maximum current income to the extent consistent with the preservation of capital and the maintenance of liquidity by investing exclusively in high quality money market instruments. |
Goldman Sachs VIT Government Money Market Fund - Service Shares This fund is not available in contracts issued on or after January 9, 2017. |
0.43%2 | 0.01% | 0.82% | 0.42% |
Long-term growth of capital. A fund of funds. |
Goldman Sachs VIT Multi-Strategy Alternatives Portfolio - Advisor Shares This fund is not available in contracts issued on or after July 20, 2015. |
1.40%2 | 4.66% | 3.42% | N/A |
Long-term capital appreciation. |
Guggenheim VT Long Short Equity advised by Security Investors, LLC |
1.60% | 23.80% | 6.51% | 5.83% |
To seek long-term capital appreciation with less risk than traditional equity funds. |
Guggenheim VT Multi-Hedge Strategies advised by Security Investors, LLC |
2.02%2 | 8.10% | 3.71% | 2.83% |
Growth of capital. |
Hartford Capital Appreciation HLS Fund - Class IC This fund is not available in contracts issued on or after May 24, 2021. |
1.17% | 14.18% | 15.28% | 14.16% |
Capital Appreciation. | Invesco Oppenheimer V.I. International Growth Fund - Series II Shares | 1.25%2 | 10.12% | 11.65% | 9.47% |
To seek total return . |
Invesco V.I. Balanced-Risk Allocation Fund - Series II Shares This fund is not available in contracts issued on or after May 24, 2021. |
1.13%2 | 9.26% | 7.18% | 5.99% |
To seek capital growth and income through investments in equity securities, including common stocks, preferred stocks and securities convertible into common and preferred stocks. | Invesco V.I. Comstock Fund - Series II Shares | 0.99% | 33.04% | 11.12% | 12.59% |
To seek to provide reasonable current income and long-term growth of income and capital. | Invesco V.I. Diversified Dividend Fund - Series II Shares | 0.93% | 18.59% | 8.10% | 11.61% |
To seek to achieve a high level of total return on its assets through a combination of capital appreciation and current income. |
Invesco V.I. Equally-Weighted S&P 500 Fund - Series II Shares5, This fund is not available in contracts issued on or after May 24, 2021. |
0.60% | 28.88% | 15.14% | 14.91% |
Both capital appreciation and current income. | Invesco V.I. Equity and Income Fund - Series II Shares | 0.80% | 18.35% | 9.27% | 10.28% |
Long-term growth of capital. |
Invesco V.I. EQV International Equity Fund - Series II Shares (formerly Invesco V.I. International Growth Fund) |
1.14% | 5.61% | 9.90% | 7.82% |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
||
1 year | 5 year | 10 year | |||
Capital Appreciation. | Invesco V.I. Main Street Small Cap Fund®- Series II Shares | 1.09% | 22.26% | 13.46% | 14.40% |
To maximize total return by investing primarily in a diversified portfolio of intermediate- and long-term debt securities. | JPMorgan Insurance Trust Core Bond Portfolio - Class 2 | 0.79%2 | -1.66% | 3.32% | 2.72% |
Maximize long-term total return. |
JPMorgan Insurance Trust Global Allocation Portfolio - Class 2 This fund is not available in contracts issued on or after January 9, 2017. |
1.19%2 | 9.26% | 9.98% | N/A |
Maximize income while maintaining prospects for capital appreciation. |
JPMorgan Insurance Trust Income Builder Portfolio - Class 2 This fund is not available in contracts issued on or after May 24, 2021. |
0.89%2 | 8.22% | 6.68% | N/A |
To seek high current income and the opportunity for capital appreciation to produce a high total return. | Lord Abbett Series Fund Bond Debenture Portfolio - Class VC | 0.89% | 3.28% | 5.66% | 6.33% |
Long-term growth of capital. |
Lord Abbett Series Fund Developing Growth Portfolio - Class VC This fund is not available in contracts issued on or after May 24, 2021. |
1.04%2 | -2.75% | 24.69% | 17.25% |
To seek high level of income consistent with preservation of capital. | Lord Abbett Series Fund Short Duration Income Portfolio - Class VC | 0.83% | 0.63% | 2.42% | N/A |
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 American Balanced Allocation Fund - Service Class | 0.92%2 | 10.24% | 10.39% | 8.71% |
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 American Growth Allocation Fund - Service Class | 0.94%2 | 10.50% | 11.28% | 9.57% |
Current income, consistent with the preservation of capital. A fund of funds. | LVIP American Preservation Fund - Service Class | 0.83%2 | -0.86% | 2.07% | N/A |
Capital Appreciation. | LVIP Baron Growth Opportunities Fund - Service Class | 1.14%2 | 18.72% | 21.55% | 16.57% |
Total return. |
LVIP BlackRock Advantage Allocation Fund - Service Class This fund is not available in contracts issued on or after May 24, 2021.This fund will merge into the LVIP BlackRock Global Allocation Fund on or about June 10, 2022. Consult your financial professional. |
0.98%2 | 7.43% | 8.72% | 7.52% |
Reasonable income by investing primarily in income-producing equity securities. |
LVIP BlackRock Dividend Value Managed Volatility Fund - Service Class This fund is not available in contracts issued on or after May 24, 2021. |
0.89%2 | 22.76% | 9.34% | 8.93% |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
||
1 year | 5 year | 10 year | |||
High total investment return. |
LVIP BlackRock Global Allocation Fund - Service Class This fund will be available on or about June 3, 2022. Consult your financial professional. |
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% |
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% |
Total return and, as a secondary objective, high current income. |
LVIP Delaware High Yield Fund - Service Class3 |
1.04%2 | 4.59% | 5.81% | 5.90% |
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% |
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% |
To provide a responsible level of income and the potential for capital appreciation. |
LVIP Delaware Wealth Builder Fund - Service Class3 This fund is not available in contracts issued on or after May 24, 2021. |
0.97%2 | 11.51% | 7.54% | 7.72% |
Long-term capital appreciation. | LVIP Dimensional International Core Equity Fund - Service Class | 0.87%2 | 12.94% | 8.68% | N/A |
Long-term capital appreciation. A fund of funds. |
LVIP Dimensional International Equity Managed Volatility Fund - Service Class This fund is not available in contracts issued on or after May 24, 2021. |
1.01% | 15.08% | 5.69% | 4.90% |
Long-term capital appreciation. |
LVIP Dimensional U.S. Core Equity 1 Fund - Service Class |
0.73%2 | 27.10% | 16.30% | 15.09% |
Long-term capital appreciation. | LVIP Dimensional U.S. Core Equity 2 Fund - Service Class | 0.73% | 27.46% | 14.92% | N/A |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
||
1 year | 5 year | 10 year | |||
Long-term capital appreciation. A fund of funds. |
LVIP Dimensional U.S. Equity Managed Volatility Fund - Service Class This fund is not available in contracts issued on or after May 24, 2021. |
0.85%2 | 27.38% | 13.82% | 11.89% |
Long-term capital growth. |
LVIP Franklin Templeton Global Equity Managed Volatility Fund - Service Class This fund is not available in contracts issued on or after May 24, 2021. |
0.96%2 | 17.03% | 10.19% | 7.97% |
Long-term growth of capital. |
LVIP Franklin Templeton Multi-Asset Opportunities Fund - Service Class This fund is not available in contracts issued on or after May 24, 2021.This fund will merge into the LVIP BlackRock Global Allocation Fund on or about June 17, 2022. Consult your financial professional. |
1.09%2 | 10.98% | 9.72% | N/A |
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 on or after May 24, 2021. |
0.99%2 | 14.45% | N/A | N/A |
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 Global Growth Allocation Managed Risk Fund - Service Class This fund is not available in contracts issued on or after May 24, 2021. |
0.95%2 | 12.49% | 8.15% | 6.57% |
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 This fund is not available in contracts issued on or after May 24, 2021. |
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% |
Current income and some capital appreciation. A fund of funds. |
LVIP JPMorgan Retirement Income Fund - Service Class This fund is not available in contracts issued on or after May 24, 2021. |
0.94%2 | 5.60% | 6.68% | 6.03% |
Long-term capital appreciation. |
LVIP JPMorgan Select Mid Cap Value Managed Volatility Fund - Service Class This fund is not available in contracts issued on or after May 24, 2021. |
1.01%2 | 28.75% | 8.84% | 8.86% |
To provide investment results over a full market cycle that, before fees and expenses, are superior to an index that tracks global equities. | LVIP Loomis Sayles Global Growth Fund - Service Class | 1.12% | 5.75% | N/A | N/A |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
||
1 year | 5 year | 10 year | |||
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% |
Long-term growth of capital. A fund of funds. |
LVIP Multi-Manager Global Equity Managed Volatility Fund - Service Class This fund is not available in contracts issued on or after May 24, 2021. |
1.13%2 | 15.49% | 11.76% | N/A |
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 |
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 This fund will not be available in contracts issued on or after May 24, 2021. |
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 This fund is not available in contracts issued on or after May 24, 2021. |
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% |
Seek to approximate as closely as practicable, before fees and expenses, the performance of a broad market index that emphasizes stocks of mid-sized U.S. companies. | LVIP SSGA Mid-Cap Index Fund - Service Class | 0.59%2 | 24.06% | 12.43% | N/A |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
||
1 year | 5 year | 10 year | |||
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% |
Seeks an investment return that approximates as closely as practicable, before fees and expenses, the performance of U.S. common stocks, as represented by the Nasdaq-100® Index. | LVIP SSGA Nasdaq-100 Index Fund - Service Class | 0.70%2 | N/A | N/A | N/A |
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% |
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% |
A balance between current income and growth of capital, with a greater emphasis on growth of capital. A fund of funds. |
LVIP U.S. Aggressive Growth Allocation Managed Risk Fund - Service Class This fund is not available in contracts issued on or after May 24, 2021. |
1.05%2 | 17.88% | N/A | 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% |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
||
1 year | 5 year | 10 year | |||
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% |
Maximize total return. | LVIP Western Asset Core Bond Fund - Service Class | 0.75% | -1.97% | 3.87% | N/A |
Capital Appreciation. | MFS® VIT Growth Series - Service Class | 0.96%2 | 23.24% | 24.56% | 19.03% |
Capital Appreciation. | MFS® VIT II International Intrinsic Value Portfolio - Service Class | 1.14%2 | 10.28% | 13.78% | 12.16% |
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% |
To seek both capital appreciation and current income. | Morgan Stanley VIF Global Infrastructure Portfolio - Class II | 1.12%2 | 14.00% | 8.29% | 9.00% |
Maximum real return, consistent with preservation of real capital and prudent investment management. A fund of funds. | PIMCO VIT All Asset Portfolio - Advisor Class | 1.34%2 | 16.04% | 8.45% | 5.91% |
Maximum real return, consistent with prudent investment management. |
PIMCO VIT CommodityRealReturn® Strategy Portfolio - Advisor Class This fund is not available in contracts issued on or after January 9, 2017. |
1.03%2 | 33.11% | 5.61% | -1.98% |
To seek maximum long-term return, consistent with preservation of capital and prudent investment management. |
PIMCO VIT Dynamic Bond Portfolio - Advisor Class This fund is not available in contracts issued on or after January 9, 2017. |
1.11% | 1.19% | 3.29% | N/A |
To seek maximum total return, consistent with preservation of capital and prudent investment management. |
PIMCO VIT Emerging Markets Bond Portfolio - Advisor Class This fund is not available in contracts issued on or after January 9, 2017. |
1.12% | -2.66% | 4.45% | 4.32% |
Balanced investment composed of a well-diversified portfolio of stocks and bonds which produce both capital growth and current income. | Putnam VT George Putnam Balanced Fund - Class IB | 0.89% | 14.04% | 12.70% | 11.06% |
Capital Appreciation. |
Putnam VT Global Health Care Fund - Class IB |
0.99% | 19.40% | 15.70% | 15.92% |
High current income consistent with what the manager believes to be prudent risk. | Putnam VT Income Fund - Class IB | 0.82% | -4.59% | 3.62% | 3.73% |
Capital growth and current income. | Putnam VT Large Cap Value Fund - Class IB | 0.81% | 27.30% | 13.81% | 14.11% |
To seek positive total return. | Putnam VT Multi-Asset Absolute Return Fund - Class IB | 1.20%2 | 0.75% | -0.52% | 0.97% |
Long-term capital growth. | Templeton Foreign VIP Fund - Class 4 | 1.21%2 | 4.10% | 2.62% | 3.90% |
Investment Objective |
Fund and Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total Returns (as of 12/31/2021) |
||
1 year | 5 year | 10 year | |||
High current income consistent with preservation of capital; capital appreciation is a secondary objective. | Templeton Global Bond VIP Fund - Class 4 | 0.86%2 | -5.01% | -1.03% | 1.04% |
Long-term capital appreciation by investing primarily in hard asset securities. A fund of funds. | VanEck VIP Global Resources Fund - Class S Shares | 1.34% | 18.68% | 1.99% | -0.37% |
Long-term total return. | Virtus Newfleet Multi-Sector Intermediate Bond Series - Class A Shares | 0.92% | 1.07% | 4.32% | 4.77% |
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. |
• | Mailing: Lincoln Life & Annuity Company of New York, PO Box 2348, Fort Wayne, IN 46801-2348 |
• | Visiting: www.lfg.com/VAprospectus |
• | Emailing: [email protected] |
• | Calling: 1-888-868-2583 |
Contents | Page | |
Special Terms
|
B-2 | |
General Information and History
|
B-2 | |
Lincoln Life & Annuity Company of New York
|
B-2 | |
Variable Annuity Account (VAA)
|
B-3 | |
Capital Markets
|
B-3 | |
Advertising & Ratings
|
B-3 | |
Non-Principal Risks of Investing In The Contract
|
B-4 | |
Services
|
B-4 |
Contents | Page | |
Purchase of Securities Being Offered
|
B-5 | |
Principal Underwriter
|
B-5 | |
Contract Information
|
B-5 | |
Additional Services
|
B-5 | |
Other Information
|
B-6 | |
Determination of Accumulation and Annuity Unit Value
|
B-6 | |
Annuity Payments
|
B-6 | |
Financial Statements
|
B-7 |
• | the Annuity Commencement Date; |
• | the value of the amount being DCA'd is depleted; or |
• | you cancel the program by written request or by telephone if we have your telephone authorization on file. |
• | the dollar value of the Contract on the Annuity Commencement Date less any applicable premium tax; |
• | the annuity tables contained in the Contract; |
• | the type of annuity option selected; and |
• | the investment results of the fund(s) selected. |
• | first, we determine the dollar amount of the first payout; |
• | second, we credit the Contract with a fixed number of Annuity Units based on the amount of the first payout; and |
• | third, we calculate the value of the Annuity Units each period thereafter. |
• | The net investment factor of the Subaccount for the Valuation Period for which the Annuity Unit value is being determined, and |
• | A factor to neutralize the assumed investment return in the annuity table. |
Name | Positions and Offices with Depositor | |
Jayson R. Bronchetti** | Senior Vice President, Chief Investment Officer and Director | |
Adam M. Cohen** | Senior Vice President and Chief Accounting Officer | |
Ellen G. Cooper** | Executive Vice President and Director | |
Randal J. Freitag** | Executive Vice President, Chief Financial Officer and Director | |
Dennis R. Glass** | President and Director | |
Stephen B. Harris** | Senior Vice President and Chief Ethics and Compliance Officer | |
Mark E. Konen 4901 Avenue G Austin, TX 78751 |
Director | |
M. Leanne Lachman 870 United Nations, Plaza, #19-E New York, NY 10017 |
Director | |
Louis G. Marcoccia Senior Vice President Syracuse University Crouse-Hinds Hall, Suite 620 900 S. Crouse Ave. Syracuse, NY 13244 |
Director | |
Shantanu Mishra** | Senior Vice President and Treasurer | |
Patrick S. Pittard 20 Cates Ridge Atlanta, GA 30327 |
Director | |
Robert O. Sheppard* | Assistant Vice President, General Counsel and Secretary | |
Joseph D. Spada*** | Vice President and Chief Compliance Officer for Separate Accounts |
Name | Positions and Offices with Underwriter | |
Andrew J. Bucklee* | Senior Vice President and Director | |
Claire H. Hanna* | Secretary | |
John C. Kennedy* | President, Chief Executive Officer and Director | |
Shantanu Mishra* | Senior Vice President and Treasurer | |
William A. Nash** | Senior Vice President and Director | |
Thomas P. O'Neill* | Senior Vice President, Chief Operating Officer and Head of Financial Institutions Group | |
Timothy J. Seifert Sr* | Senior Vice President and Director | |
Vacant | Chief Compliance Officer |
SIGNATURES
(a)As required by the Securities Act of 1933 and the Investment Company Act of 1940, each Registrant certifies that it meets the requirements of Securities Act Rule 485(b) for effectiveness of these registration statements and has caused these Post-Effective Amendments to the registration statements to be signed on its behalf, in the City of Fort Wayne, and the State of Indiana on this 8th day of April, 2022 at 9:16 am.
Lincoln Life & Annuity Variable Annuity Account H
Lincoln New York Account N for Variable Annuities
(Registrants)
By: |
/s/ Delson R. Campbell |
|
Delson R. Campbell |
||
Vice President, Lincoln Life & Annuity Company of New York |
Signed on its behalf, in the City of Hartford, and the State of Connecticut on this 8th day of April, 2022 at 10:44 am.
Lincoln Life & Annuity Company of New York
(Depositor)
By: |
/s/ Michelle L. Grindle |
|
Michelle L. Grindle |
||
(Signature-Officer of Depositor) |
||
Vice President, Lincoln Life & Annuity Company of New York |
Lincoln Life & Annuity Variable Annuity Account H (File No. 811-08441; CIK: 0001045008)
333-141754 (Amendment No. 45) |
333-171097 (Amendment No. 30) |
333-141756 (Amendment No. 41) |
333-141766 (Amendment No. 39) |
333-181617 (Amendment No. 23) |
333-234169 (Amendment No. 4) |
333-214112 (Amendment No. 11) |
333-234170 (Amendment No. 4) |
333-176216 (Amendment No. 22) |
333-141763 (Amendment No. 44) |
333-141758 (Amendment No. 42) |
333-141761 (Amendment No. 33) |
Lincoln New York Account N for Variable Annuities (File No. 811-09763; CIK: 0001093278)
333-171096 (Amendment No. 30) |
333-141752 (Amendment No. 45) |
333-149449 (Amendment No. 34) |
333-141759 (Amendment No. 43) |
333-141762 (Amendment No. 41) |
333-181616 (Amendment No. 34) |
333-193276 (Amendment No. 16) |
333-193277 (Amendment No. 13) |
333-214111 (Amendment No. 13) |
333-176213 (Amendment No. 28) |
333-145531 (Amendment No. 48) |
333-175691 (Amendment No. 26) |
333-214256 (Amendment No. 7) |
333-186895 (Amendment No. 28) |
333-214113 (Amendment No. 8) |
333-141757 (Amendment No. 44) |
333-141760 (Amendment No. 35) |
(b) As required by the Securities Act of 1933, these Amendments to the registration statements have been signed by the following persons in their capacities indicated on April 8, 2022 at 9:16 am.
Signature |
Title |
|
*/s/ Dennis R. Glass |
President and Director |
|
Dennis R. Glass |
||
*/s/ Ellen Cooper |
Executive Vice President and Director |
|
Ellen Cooper |
||
*/s/ Randal J. Freitag |
Executive Vice President, Chief Financial Officer and Director |
|
Randal J. Freitag |
||
*/s/ Jayson R. Bronchetti |
Chief Investment Officer and Director |
|
Jason R. Bronchetti |
||
*/s/ Adam M. Cohen |
Senior Vice President and Chief Accounting Officer |
|
Adam M. Cohen |
||
*/s/ Mark E. Konen |
Director |
|
Mark E. Konen |
*/s/ M. Leanne Lachman |
Director |
||
M. Leanne Lachman |
|||
*/s/ Louis G. Marcoccia |
Director |
||
Louis G. Marcoccia |
|||
* /s/ Patrick S. Pittard |
Director |
||
Patrick S. Pittard |
|||
* |
/s/ Delson R. Campbell, pursuant to a Power of Attorney |
||
Delson R. Campbell |