Updating Summary Prospectus - Form 497VPU

VARIFLEX® LS VARIABLE ANNUITY

May 1, 2024

Individual Flexible Purchase Payment Deferred Variable Annuity Contract

SBL Variable Annuity Account VIII

Updating Summary Prospectus for Existing Investors

Issued By:	Mailing Address:
Security Benefit Life Insurance Company One Security Benefit Place Topeka, Kansas 66636-0001 1-800-888-2461 www.securitybenefit.com	Security Benefit Life Insurance Company P.O. Box 750497 Topeka, Kansas 66675-0497

This Updating Summary Prospectus describes the Variflex LS Variable Annuity (the "Contract"), which is an Individual Flexible Purchase Payment Deferred Variable Annuity Contract issued by Security Benefit Life Insurance Company (the "Company"). The Contract is available for individuals as a non-tax qualified contract. The Contract is also available for individuals in connection with a retirement plan qualified under Section 401, 402A, 403(b), 408, 408A or 457 of the Internal Revenue Code. The Contract may be available through third-party financial intermediaries who charge an advisory fee for their services. This fee is in addition to Contract fees and expenses. If you elect to pay advisory fees from your Contract Value, such deductions will reduce death benefits and other guaranteed benefits, perhaps significantly, and may be subject to federal and state income taxes and a 10% federal penalty tax. The Contract is designed to give you flexibility in planning for retirement and other financial goals. This Updating Summary Prospectus is used with current owners. This Updating Summary Prospectus was first used May 1, 2021.

The Prospectus of the Contract contains more information about the Contract, including its features, benefits and risks. You can find the current Prospectus and other information about the Contract online at https://dfinview.com/SecurityBenefit/TAHD/814121208?site=PSBL. You can also obtain this information at no cost by calling 1-800-888-2461 or by sending an email request to [email protected].

Additional information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.

Table of Contents

	Page
Special Terms	3
Updated Information About Your Contract	3
Important Information You Should Consider About the Contract	4
Appendix A - Underlying Funds Available Under the Contract	A-1

Special Terms

Various terms commonly used in this Updating Summary Prospectus are defined as follows:

Company-Security Benefit Life Insurance Company. The Company is also identified herein as "we," "our," or "us."

Contract-The flexible purchase payment deferred variable annuity contract described in this Updating Summary Prospectus.

Contract Date-The date the Contract begins as shown in your Contract. Contract anniversaries are measured from the Contract Date. The Contract Date is usually the date that the initial Purchase Payment is credited to the Contract.

Contract Value-The total value of your Contract which includes amounts allocated to the Subaccounts and the Fixed Account as well as any amount set aside in the Loan Account to secure loans as of any Valuation Date.

Credit Enhancement-An amount added to Contract Value under the Extra Credit Rider.

Fixed Account-An account that is part of the Company's General Account to which you may allocate all or a portion of your Contract Value to be held for accumulation at fixed rates of interest (which may not be less than the Guaranteed Rate) declared periodically by the Company.

Internal Revenue Code or the Code-The Internal Revenue Code of 1986, as amended.

Owner-The person entitled to the ownership rights under the Contract and in whose name the Contract is issued.

Purchase Payment-An amount initially paid to the Company as consideration for the Contract and any subsequent amounts paid to the Company under the Contract.

Separate Account-SBL Variable Annuity Account VIII, a separate account of the Company that consists of accounts, referred to as Subaccounts, each of which invests in a corresponding Underlying Fund.

Subaccount-A division of the Separate Account which invests in a corresponding Underlying Fund.

Underlying Fund-A mutual fund or series thereof that serves as an investment vehicle for its corresponding Subaccount.

Updated Information About Your Contract

The following is a summary of certain Contract features that have changed since May 1, 2023, the date of the last Prospectus. This does not reflect all of the changes that have occurred since you entered into your Contract.

Summary of Recent Contract Changes:

There have been no changes to the features of the Contract since the Prospectus dated May 1, 2023. Information about the Underlying Funds, including certain fund name and adviser changes, is included in Appendix A to this Updating Summary Prospectus.

Important Information You Should Consider About the Contract

	FEES AND EXPENSES	Location in Prospectus
Charges for Early Withdrawals	The Company does not assess a withdrawal charge on full or partial withdrawals.	Fee Table Fee Table - Examples
Transaction Charges	There are no charges for other transactions.	Not Applicable
Ongoing Fees and Expenses (annual charges)	The table below describes the current fees and expenses of the Contract that you may pay each year, depending on the options you choose. Interest on any Contract loans is not reflected. The fees and expenses do not reflect any advisory fees paid to financial intermediaries from your Contract Value or other assets. If such charges were reflected, the fees and expenses would be higher. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected.	Fee Table - Examples Charges and Deductions - Mortality and Expense Risk Charge Charges and Deductions - Administration Charge Appendix A - Underlying Funds Available Under the Contract
Annual Fee	Minimum	Maximum
Base Contract1	1.40%	1.40%
Investment options2 (Underlying Fund fees and expenses)	0.61%	4.44%
1 As a percentage of Contract Value allocated to the Separate Account. 2 As a percentage of Underlying Fund average net assets.
There are no optional benefits available under this Contract. 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.
Lowest Annual Cost: $1,783.80	Highest Annual Cost: $4,339.19
Assumes: •Investment of $100,000 •5% annual appreciation •Least expensive combination of Base Contract charge and Underlying Fund fees and expenses •No advisory fees •No additional Purchase Payments, transfers or withdrawals •No Contract loans	Assumes: •Investment of $100,000 •5% annual appreciation •Most expensive combination of Base Contract charge and Underlying Fund fees and expenses •No advisory fees •No additional Purchase Payments, transfers or withdrawals •No Contract loans

	RISKS	Location in Prospectus
Risk of Loss	You can lose money by investing in this Contract, including loss of principal.	Principal Risks of Investing in the Contract
Not a Short-Term Investment	•This Contract is not designed for short-term investing and is not appropriate for an investor who needs ready access to cash. •Withdrawals may reduce or terminate Contract guarantees. •Tax deferral is more beneficial to investors with a long time horizon.	The Contract - General
Risks Associated with Investment Options	•An investment in this Contract is subject to the risk of poor investment performance. Performance can vary depending on the performance of the investment options that are available under the Contract. •Each investment option, including the Fixed Account (if available), has its own unique risks. •You should review the investment options before making an investment decision.	Appendix A - Underlying Funds Available Under the Contract

APPENDIX A

Underlying Funds Available Under the Contract

The following is a list of Underlying Funds available under the Contract. More information about the Underlying Funds is available in the Underlying Fund prospectuses, shareholder reports*, and other documents, which may be amended or updated from time to time, and can be found online at https://dfinview.com/SecurityBenefit/TAHD/814121208?site=PSBL. You can view, download, and print copies of Underlying Fund documents at this website. You can also request this information at no cost by calling 1-800-888-2461 or by sending an email request to [email protected].

The current expenses and performance information below reflect the fees and expenses of the Underlying Funds, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Underlying Fund's past performance is not necessarily an indication of future performance. Updated performance information is available online at https://securitybenefit.se2.com/#53&RID=2&prodID=10&prodCat=VA.

*Due to changes in Underlying Fund report delivery requirements, effective on and after June 30, 2024, all Underlying Fund reports for your current investment allocation(s) will be printed and mailed to you.

Investment Type	Fund Adviser/Sub-Adviser	Current Expenses1	Average Annual Total Returns (as of 12/31/2023)
1 Year	5 Year	10 Year
Balanced/Asset Allocation	American Funds IS® Asset Allocation - Class 4 Adviser: Capital Research and Management Company	0.80%	14.02%	8.92%	6.98%
Global Equity	American Funds IS® Global Growth - Class 4 Adviser: Capital Research and Management Company	1.02%	22.29%	13.36%	9.30%
Large Cap Blend	American Funds IS® Growth-Income - Class 4 Adviser: Capital Research and Management Company	0.78%	25.82%	13.08%	10.63%
International Equity	American Funds IS® International - Class 4 Adviser: Capital Research and Management Company	1.03%	15.56%	4.58%	3.15%
High Yield Bond	BlackRock High Yield V.I. - Class III Adviser: BlackRock Advisors, LLC Sub-Adviser: BlackRock International Limited	0.90%	12.94%	5.49%	4.21%
Specialty-Sector	BNY Mellon IP Technology Growth - Service Class Adviser: BNY Mellon Investment Adviser, Inc. Sub-Adviser: Newton Investment Management North America, LLC	1.03%	59.00%	15.31%	12.94%
Large Cap Growth	ClearBridge Variable Growth - Class II Adviser: Franklin Templeton Fund Adviser, LLC Sub-Adviser: ClearBridge Investments, LLC	1.10%	24.13%	8.05%	6.38%
Small Cap Growth	ClearBridge Variable Small Cap Growth - Class I Adviser: Franklin Templeton Fund Adviser, LLC Sub-Adviser: ClearBridge Investments, LLC	0.80%	8.40%	9.56%	7.89%
Multi Cap Value	Guggenheim VIF All Cap Value Adviser: Security Investors, LLC	1.14%	8.52%	11.41%	8.28%
Specialty	Guggenheim VIF Alpha Opportunity Adviser: Security Investors, LLC	4.44%	8.38%	1.99%	2.09%
High Yield Bond	Guggenheim VIF High Yield Adviser: Security Investors, LLC	1.34%	12.02%	4.50%	3.92%
Large Cap Value	Guggenheim VIF Large Cap Value Adviser: Security Investors, LLC	1.02%	9.27%	11.27%	8.47%