Equitrust Life Annuity Account II
04/29/2024 | Press release | Distributed by Public on 04/29/2024 11:31
Notice Document by Insurance Company - Form N-VP
Registration No. 333-61899
EquiTrust Life Annuity Account II
Individual Flexible Premium Deferred Variable Annuity Contract
Issued By
EquiTrust Life Insurance Company
ANNUAL NOTICE
April 29, 2024
This Annual Notice for the individual flexible premium deferred variable annuity contract (the "Contract") issued by EquiTrust Life Insurance Company provides you with an update of changes to your Contract that have occurred since May 1, 2023. In addition, this Annual Notice provides key information about your Contract that you should review, including a current list of Investment Options available under your Contract. Please read this Annual Notice carefully and retain it with your Contract prospectus for future reference.
The most recent prospectus for the Contract, dated May 1, 2009, contains more information about the Contract, including its features, benefits, and risks. You can find the most recent audited financial statements of the EquiTrust Life Annuity Account II online at https://etlic.onlineprospectus.net/Etlic/ProductDocuments/index.html. You can also request this information at no cost by calling 1-877- 249-3693 or sending an email request to [email protected].
More information about the Investment Options is available in the prospectuses for the Investment Options, which may be amended from time and time and can be found online at https://etlic.onlineprospectus.net/Etlic/ProductDocuments/index.html. You can also request this information at no cost by calling 1-877-249-3693 or 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.
The Securities and Exchange Commission has not approved these securities or determined that this Annual Notice is accurate or complete. Any representation to the contrary is a criminal offense.
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TABLE OF CONTENTS
| Definitions | 2 |
| Updated Information About Your Contract | 3 |
| Important Information You Should Know About the Contract | 4 |
| APPENDIX: Investment Options Available Under the Contract | 8 |
DEFINITIONS
Account: EquiTrust Life Annuity Account II.
Accumulated Value: The total amount invested under the Contract, which is the sum of the values of the Contract in each Subaccount of the Account plus the value of the Contract in the Declared Interest Option.
The Company ("we", "us" or "our"): EquiTrust Life Insurance Company.
Contract: The individual flexible premium deferred variable annuity contract, which term includes the basic contract described in the Contract prospectus, the contract application, any supplemental applications and any endorsements or additional benefit riders or agreements.
Contract Anniversary: The same date in each Contract Year as the Contract Date.
Contract Date: The date on which the Company receives a properly completed application. It is the date set forth on the data page of the Contract which the Company uses to determine Contract Years and Contract Anniversaries.
Contract Year: A twelve-month period beginning on the Contract Date or on a Contract Anniversary.
Declared Interest Option: An investment option under the Contract funded by the Company's General Account. It is not part of, nor dependent upon, the investment performance of the Account.
Fund: An investment company registered with the SEC under the Investment Company Act of 1940 as an open-end diversified management investment company or unit investment trust in which the Account invests.
General Account: The assets of the Company other than those allocated to the Account or any other separate account of the Company.
Investment Option: A Fund, or a separate investment portfolio of a Fund in which a Subaccount invests.
Owner ("you" or "your"): The person who owns the Contract and who is entitled to exercise all rights and privileges provided in the Contract.
SEC: The U.S. Securities and Exchange Commission.
Subaccount: A subdivision of the Account which invests its assets exclusively in a corresponding Investment Option.
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UPDATED INFORMATION ABOUT YOUR CONTRACT
The information in this Annual Notice is a summary of certain Contract features that have changed since May 1, 2023. This may not reflect all of the changes that have occurred since you entered into your Contract.
Asset Allocation Program. Effective April 26, 2024, the Asset Allocation Program ceased to be available under your Contract. If you were participating in the Asset Allocation Program when it was discontinued:
| · | Your Accumulated Value is no longer automatically rebalanced each year to maintain the particular percentage allocations of your Accumulated Value among the Subaccounts specified under the asset allocation model portfolio you selected. However, you may elect to have your Accumulated Value rebalanced periodically under the automatic rebalancing program available under the Contract, described below. |
| · | Unless you provide us with alternative allocation instructions, your premiums will continue to be allocated to the same Subaccounts that they were allocated to under the asset allocation model portfolio immediately before the Asset Allocation Program was discontinued based on the particular percentage allocations that were in effect at that time. However, FBL Wealth Management, LLC will no longer review and change those percentage allocations. |
Asset Rebalancing Program. We offer an asset rebalancing program under which we will automatically transfer amounts to maintain particular percentage allocations of your Accumulated Value among the Subaccounts and the Declared Interest Option. The asset rebalancing program automatically reallocates the Accumulated Value in the Subaccounts and the Declared Interest Option quarterly, semi-annually or annually to match your Contract's then-effective premium allocation instructions. The asset rebalancing program will transfer Accumulated Value from those Subaccounts that have increased in value to those Subaccounts that have declined in value (or not increased as much). The asset rebalancing program does not guarantee gains, nor does it assure that any Subaccount will not have losses.
| · | Under the asset rebalancing program, the maximum number of Investment Options which you may select at any one time is twelve, including the Declared Interest Option. |
| · | This feature is free and is not considered in the twelve free currently permitted transfers during a Contract Year. |
| · | This feature cannot be utilized in combination with the dollar cost averaging program. |
If you would like to provide new allocation instructions or elect to participate in the asset rebalancing program, you may contact your financial representative, call us at 1-877-249-3689, or write to us at Po Box 9353, Des Moines, Iowa 50306-9353.
Investment Options. At the close of business on April 26, 2024, certain Funds of American Century Variable Portfolios, Inc. and American Century Variable Portfolios II, Inc. that were Investment Options under your Contract (the "American Century Funds") merged into substantially similar Funds of Lincoln Variable Insurance Products Trust (the "LVIP Funds"), as set forth in the table below.
| American Century Fund | LVIP Fund |
| VP Capital Appreciation Fund | LVIP American Century Capital Appreciation Fund |
| VP Inflation Protection Bond Fund | LVIP American Century Inflation Protection Fund |
| VP Mid Cap Value Fund | LVIP American Century Mid Cap Value Fund |
| VP Ultra® Fund | LVIP American Century Ultra Fund |
| VP Value Fund | LVIP American Century Value Fund |
Contract Owners who had Accumulated Value allocated to the Subaccounts that invested in the American Century Funds (the "American Century Subaccounts") on April 26, 2024, had their Accumulated Value transferred to the Subaccounts that invest in the corresponding LVIP Funds (the "LVIP Subaccounts"). Accumulated Value immediately after such reallocation was equal to the Accumulated Value immediately before the reallocation. No fees or charges were assessed and there were no adverse tax consequences as a result of the mergers.
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For up to 90 days from April 26, 2024, you can transfer your Accumulated Value in the LVIP Subaccounts that had been automatically transferred from the American Century Subaccounts to any other Subaccount and the Declared Interest Option available under the Contract without a charge being assessed for such transfer. All such transfers will not count against the number of free transfers allowed each Contract Year. If you would like to request a transfer, you may contact your financial representative, call us at 1-877-249-3689, or write to us at Po Box 9353, Des Moines, Iowa 50306-9353. In addition, you may surrender your Accumulated Value in the LVIP Subaccounts that had been automatically transferred from the American Century Subaccounts for up to 30 days from April 26, 2024, without a surrender charge being imposed.
Any order to allocate premiums and transfer Accumulated Value to an American Century Subaccount, including instructions for dollar cost averaging or asset rebalancing transfers, will now be allocated to the corresponding LVIP Subaccount. You may change your instructions for dollar cost averaging or asset rebalancing transfers at any time by contacting our Home Office toll free at 1-877-249-3689.
Additional information about the LVIP Funds, including the investment adviser and subadviser and the current expenses, is available in the Appendix to this Annual Notice.
IMPORTANT INFORMATION YOU SHOULD KNOW ABOUT THE CONTRACT
An investment in the Contract is subject to fees, risks, and other important considerations, some of which are briefly summarized in the following table. You should review the prospectus for additional information about these topics.
| FEES AND EXPENSES |
LOCATION IN PROSPECTUS |
|
| Charge for Early Withdrawal |
If you withdraw money from your Contract during the first 6 Contract Years, you may be assessed a Surrender Charge of up to 6% of the amount withdrawn. After the first Contract Year, you may withdraw a maximum of 10% of your Accumulated Value each Contract Year without incurring a Surrender Charge. For example, if you were to make a withdrawal during the first Contract Year after your Contract purchase (and your Accumulated Value is $100,000), you could be assessed a charge of up to $6,000. |
Charges and Deductions |
| Transaction Charges |
In addition to Surrender Charges, you may also be charged for other transactions. These charges are as follows: Transfer Charge. There is no transfer charge for the first twelve transfers during a Contract Year. We impose a transfer charge of $25 for the thirteenth and each subsequent transfer in a Contract Year. |
Charges and Deductions |
| Ongoing Fees and Expenses (annual charges) |
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 elected. |
Charges and Deductions |
| Annual Fee | Minimum | Maximum | ||||
| Base Contract1 | 1.49% | 1.49% | ||||
| Investment Options (portfolio company fees and expenses)2 | 0.10% | 1.41% | ||||
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| FEES AND EXPENSES |
LOCATION IN PROSPECTUS |
|
|
1 We calculate the Base Contract fee by dividing the total amount we receive from the annual administrative charge and the mortality and expense risk charge for the last fiscal year by the total average net assets attributable to the Contract for that year. 2 As a percentage of Investment Option assets. 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, which could add surrender charges that substantially increase costs. |
Charges and Deductions |
|
Lowest Annual Cost: $1,439.28 |
Highest Annual Cost: |
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|
Assumes: ·Investment of $100,000 ·5% annual appreciation ·Least expensive Investment Option fees and expenses ·No optional benefits ·No sales charges No additional purchase payments, transfers, or withdrawals |
Assumes: ·Investment of $100,000 ·5% annual appreciation ·Most expensive Investment Option fees and expenses ·No optional benefits ·No sales charges No additional purchase payments, transfers, or withdrawals |
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| RISKS |
LOCATION IN PROSPECTUS |
|
| Risk of Loss | You can lose money by investing in the Contract, including loss of principal. |
The Company, Account and Investment Options |
| Not a Short- Term Investment |
This Contract is not a short-term investment vehicle and is not appropriate for an investor who needs ready access to cash. ·We apply a Surrender Charge with respect to withdrawals during the first 6 Contract Years. It will reduce the value of your Contract if you withdraw money during that time. ·Tax deferral is more beneficial to investors with a long-time horizon. |
Description of Annuity Contract Charges and Deductions |
| Risks Associated with Investment Options |
An investment in the Contract is subject to the risk of poor investment performance and can vary depending on the performance of the Investment Options. Each Investment Option (including the Declared Interest Option) has its own unique risks. You should review these Investment Options before making an investment decision. |
The Company, Account and Investment Options The Declared Interest Option |
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| Insurance Company Risks |
An investment in the Contract is subject to the risks related to EquiTrust Life Insurance Company, including that any obligations (including under the Declared Interest Option), guarantees, or benefits of the Contract are subject to the claims-paying ability of the Company. More information about the Company, including its financial strength ratings, is available by calling toll-free at 1-877-249-3693 or writing to: EquiTrust Life Insurance Company, PO Box 9353, Des Moines, Iowa 50306-9353. |
The Company, Account and Investment Options The Declared Interest Option |
| RESTRICTIONS |
LOCATION IN |
|
| Investments |
Currently, the first twelve transfers in a Contract Year may be effected without a transfer charge. But we impose a transfer charge of $25 for the thirteenth and each subsequent transfer in a Contract Year. We reserve the right, subject to compliance with applicable law, to make additions to, deletions from or substitutions for the shares of the Investment Options that the Account holds or that the Account may purchase. |
Charges and Deductions Description of Annuity Contract - Transfer Privilege The Company, Account and Investment Options - Addition, Deletion, or Substitution of Investments |
| Optional Benefits | We offer an optional benefit rider under the Contract that provides additional death benefits. We do not have the right to terminate an optional benefit you have elected in our sole discretion. |
Description of Annuity Contract - Incremental Death Benefit Rider |
| TAXES |
LOCATION IN PROSPECTUS |
|
| TaxImplications |
You should consult with a tax professional to determine the tax implications of an investment in and payments received under the Contract. There is no additional tax benefit to you if the Contract was purchased through a tax-qualified plan or individual retirement account (IRA). Withdrawals will be subject to ordinary income tax and may be subject to tax penalties. |
Federal Tax Matters |
| CONFLICTS OF INTEREST |
LOCATION IN |
|
| Investment Professional Compensation |
We have discontinued new sales of the Contracts to the public. We summarize below the kinds of compensation paid in connection with past sales of the Contract and on an ongoing basis. Investment professionals receive compensation for selling the Contract to investors (e.g., in the form of cash commission payments). In addition to commissions and other forms of cash compensation, certain investment professionals also may receive non-cash compensation. Non-cash compensation can entail payment for conferences, seminars, meals, sporting events, theater performances, travel, lodging and/or entertainment as well as prizes and awards. Finally, investment professionals may receive other payments from the Company for services that do not directly involve the sale of the Contracts, including payments made for the recruitment and training of personnel, production of promotional literature and similar services. These investment professionals have a financial incentive to offer or |
Distribution of the Contracts |
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| recommend the Contract over another investment. | ||
| Exchanges |
Because the Contract is no longer sold, you would not be affected by a scenario in which you are asked to replace an existing contract you own with a new purchase of this Contract. In general, you should be aware that some investment professionals may have a financial incentive to offer you a new contract in place of the one you already own. Thus, in general, you should only exchange your current contract if you determine, after comparing the features, fees, and risks of both contracts, that it is preferable for you to purchase the new contract rather than continue to own the existing contract. |
The Contract |
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APPENDIX: INVESTMENT OPTIONS AVAILABLE UNDER THE CONTRACT
The following is a list of Investment Options available under the Contract. More information about the Investment Options is available in the prospectuses for the Investment Options, which may be amended from time and time and can be found online at https://etlic.onlineprospectus.net/Etlic/ProductDocuments/index.html. You can also request this information at no cost by calling 1-877- 249-3693 or sending an email request to [email protected].
The current expenses and performance information below reflects fees and expenses of the Investment Options, 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 Investment Option's past performance is not necessarily an indication of future performance. Updated performance information is available at no cost by visiting the website or calling the telephone number above.
| Investment Objective |
Investment Option and Adviser/ Subadviser |
Current Expenses |
Average Annual Total |
||
| 1 Year | 5 Year | 10 Year | |||
| Long-term capital appreciation |
BNY MELLON BNY Mellon Sustainable U.S. Equity Portfolio, Inc.-Service Class The BNY Mellon Investment Adviser, Inc. (Adviser) Newton Investment Management Limited (Subadviser) |
0.92% | 23.50% | 14.85% | 10.18% |
| Long-term capital growth consistent with preservation of capital |
BNY MELLON BNY Mellon Variable Investment Fund: Appreciation Portfolio-Initial Class The BNY Mellon Investment Adviser, Inc. (Adviser) Fayez Sarofim and Co. (Subadviser) |
0.85% | 20.97% | 16.23% | 11.09% |
| Long-term capital growth, current income and growth of income, consistent with reasonable investment risk |
BNY MELLON BNY Mellon Variable Investment Fund: Growth & Income Portfolio-Initial Class The BNY Mellon Investment Adviser, Inc. (Adviser) Newton Investment Management Limited (Subadviser) |
0.70%* | 26.69% | 16.89% | 11.84% |
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| Investment Objective |
Investment Option and Adviser/ Subadviser |
Current Expenses |
Average Annual Total (as of 12/31/23) |
||
| 1 Year | 5 Year | 10 Year | |||
| Capital growth |
BNY MELLON BNY Mellon Variable Investment Fund: Opportunistic Small Cap Portfolio-Initial Class The BNY Mellon Investment Adviser, Inc. (Adviser) Newton Investment Management Limited (Subadviser) |
0.82% | 9.28% | 9.15% | 6.15% |
| Investment results that correspond to investment performance of U.S. common stocks, as represented by the NASDAQ-100® Index |
CALVERT VARIABLE PRODUCTS Calvert VP NASDAQ-100 Index Portfolio Calvert Research and Management (Adviser) Ameritas Investment Partners, Inc. (Subadviser) |
0.48%* | 54.40% | 22.09% | 17.29% |
| Investment results that correspond to investment performance of U.S. common stocks, as represented by the Russell 2000® Index |
CALVERT VARIABLE PRODUCTS Calvert VP Russell 2000® Small Cap Index Portfolio Calvert Research and Management (Adviser) Ameritas Investment Partners, Inc. (Subadviser) |
0.39%* | 16.60% | 9.69% | 6.77% |
| Investment results that correspond to total return performance of U.S. common stocks, as represented by the S&P MidCap 400® Index |
CALVERT VARIABLE PRODUCTS Calvert VP S&P MidCap 400 Index Portfolio Calvert Research and Management (Adviser) Ameritas Investment Partners, Inc. (Subadviser) |
0.33%* | 16.12% | 12.28% | 8.90% |
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| Investment Objective |
Investment Option and Adviser/ Subadviser |
Current Expenses |
Average Annual Total |
||
| 1 Year | 5 Year | 10 Year | |||
| Seeks to maintain a stable net asset value (NAV) of $1.00 per share |
FEDERATED HERMES INSURANCESERIES Federated Hermes Government Money Fund II-Service Shares Federated Hermes Investment Management (Adviser) |
0.63%* | 4.52% | 1.49% | 0.90% |
| High current income and moderate capital appreciation |
FEDERATED HERMES INSURANCESERIES Federated Hermes Managed Volatility Fund II-Primary Shares Federated Global Investment Management Corp. (Fed Global), Federated Investment Management Company (FIMCO) and Federated Equity Management Company of Pennsylvania (FEMCOPA) (Advisers) |
0.97%* | 8.68% | 6.15% | 4.19% |
| Current income |
FEDERATED HERMES INSURANCESERIES Federated Hermes Quality Bond Fund II- Primary Shares Federated Hermes Investment Management Company (Adviser) |
0.74%* | 6.14% | 2.36% | 2.25% |
| Long-term capital appreciation |
FIDELITYVARIABLE INSURANCE PRODUCTS FUNDS Fidelity® VIP Contrafund® Portfolio- Initial Class Fidelity Management & Research Company (FMR) (Adviser) FMR Co., Inc. and other investment advisers (Subadviser) |
0.56% | 33.45% | 16.65% | 11.61% |
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| Investment Objective |
Investment Option and Adviser/ Subadviser |
Current Expenses |
Average Annual Total (as of 12/31/23) |
||
| 1 Year | 5 Year | 10 Year | |||
| Capital appreciation |
FIDELITYVARIABLE INSURANCE PRODUCTS FUNDS Fidelity® VIP Growth Portfolio-Initial Class Fidelity Management & Research Company (FMR) (Adviser) FMR Co., Inc. and other investment advisers (Subadviser) |
0.58% | 36.24% | 19.64% | 14.80% |
| High total return through combination of current income and capital appreciation |
FIDELITYVARIABLE INSURANCE PRODUCTS FUNDS Fidelity® VIP Growth & Income Portfolio-Initial Class Fidelity Management & Research Company (FMR) (Adviser) FMR Co., Inc. and other investment advisers (Subadviser) |
0.49% | 18.72% | 14.79% | 10.27% |
| High level of current income, while also considering growth of capital |
FIDELITYVARIABLE INSURANCE PRODUCTS FUNDS Fidelity® VIP High Income Portfolio- Service Class 2 Fidelity Management & Research Company (FMR) (Adviser) FMR Co., Inc. and other investment advisers (Subadviser) |
1.02% | 10.24% | 3.60% | 3.14% |
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| Investment Objective |
Investment Option and Adviser/ Subadviser |
Current Expenses |
Average Annual Total (as of 12/31/23) |
||
| 1 Year | 5 Year | 10 Year | |||
| Investment results that correspond to the total return of common stocks publicly traded in United States, as represented by the S&P 500 Index |
FIDELITYVARIABLE INSURANCE PRODUCTS FUNDS Fidelity® VIP Index 500 Portfolio-Initial Class Fidelity Management & Research Company (FMR) (Adviser) Geode Capital Management, LLC (Geode®) and FMR Co., Inc. (Subadvisers) |
0.10% | 26.19% | 15.56% | 11.92% |
| Long-term growth of capital |
FIDELITYVARIABLE INSURANCE PRODUCTS FUNDS Fidelity® VIP Mid Cap Portfolio-Service Class 2 Fidelity Management & Research Company (FMR) (Adviser) |
0.82% | 14.80% | 12.17% | 7.85% |
| Long-term growth of capital |
FIDELITYVARIABLE INSURANCE PRODUCTS FUNDS Fidelity® VIP Overseas Portfolio-Initial Class Fidelity Management & Research Company (FMR) (Adviser) FMR Co., Inc., FMR Investment Management (UK) Limited, and other advisers (Subadvisers) |
0.73% | 20.55% | 9.99% | 4.91% |
| High total return |
FRANKLINTEMPLETON VARIABLE INSURANCE PRODUCTS TRUST Franklin Global Real Estate VIP Fund- Class 2 Franklin Templeton Institutional, LLC (Adviser) |
1.25%* | 11.43% | 3.88% | 3.78% |
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| Investment Objective |
Investment Option and Adviser/ Subadviser |
Current Expenses |
Average Annual Total (as of 12/31/23) |
||
| 1 Year | 5 Year | 10 Year | |||
| Capital appreciation, with income as a secondary goal |
FRANKLINTEMPLETON VARIABLE INSURANCE PRODUCTS TRUST Franklin Mutual Shares VIP Fund- Class 2 Franklin Mutual Advisers, LLC (Adviser) |
0.93% | 13.46% | 7.82% | 5.43% |
| Long-term total return |
FRANKLINTEMPLETON VARIABLE INSURANCE PRODUCTS TRUST Franklin Small Cap Value VIP Fund- Class 2 Franklin Mutual Advisers, LLC (Adviser) |
0.91%* | 12.75% | 11.06% | 7.04% |
| Long-term capital growth |
FRANKLINTEMPLETON VARIABLE INSURANCE PRODUCTS TRUST Franklin Small-Mid Cap Growth VIP Fund-Class 2 Franklin Advisers, Inc. (Adviser) |
1.08%* | 26.74% | 13.51% | 8.96% |
| Income |
FRANKLINTEMPLETON VARIABLE INSURANCE PRODUCTS TRUST Franklin U.S. Government Securities VIP Fund-Class 2 Franklin Advisers, Inc. (Adviser) |
0.77% | 4.47% | 0.22% | 0.73% |
| Long-term capital growth |
FRANKLINTEMPLETON VARIABLE INSURANCE PRODUCTS TRUST Templeton Growth VIP Fund-Class 2 Templeton Global Advisors Limited (Adviser) |
1.12%* | 21.01% | 6.47% | 3.24% |
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| Investment Objective |
Investment Option and Adviser/ Subadviser |
Current Expenses |
Average Annual Total (as of 12/31/23) |
||
| 1 Year | 5 Year | 10 Year | |||
| Capital growth |
LINCOLN VARIABLE INSURANCEPRODUCTS TRUST LVIP American Century Capital Appreciation Fund (formerly VP Capital Appreciation Fund) Lincoln Financial Investments Corporation (Adviser) American Century Investment Management, Inc. (Sub-adviser) |
0.79%* | 20.69% | 13.24% | 9.36% |
| Long-term total return |
LINCOLN VARIABLE INSURANCEPRODUCTS TRUST LVIP American Century Inflation Protection Fund (formerly VP Inflation Protection Bond Fund) Lincoln Financial Investments Corporation (Adviser) American Century Investment Management, Inc. (Sub-adviser) |
0.52%* | 3.60% | 2.90% | 2.16% |
| Long-term capital growth and income as a secondary goal |
LINCOLN VARIABLE INSURANCEPRODUCTS TRUST LVIP American Century Mid Cap Value Fund (formerly VP Mid Cap Value Fund) Lincoln Financial Investments Corporation (Adviser) American Century Investment Management, Inc. (Sub-adviser) |
0.86%* | 6.13% | 11.05% | 8.77% |
| Long-term capital growth |
LINCOLN VARIABLE INSURANCEPRODUCTS TRUST LVIP American Century Ultra Fund (formerly VP Ultra® Fund) Lincoln Financial Investments Corporation (Adviser) American Century Investment Management, Inc. (Sub-adviser) |
0.75%* | 43.51% | 19.24% | 14.64% |
| Long-term capital growth and income as a secondary goal |
LINCOLN VARIABLE INSURANCEPRODUCTS TRUST LVIP American Century Value Fund (formerly VP Value Fund) Lincoln Financial Investments Corporation (Adviser) American Century Investment Management, Inc. (Sub-adviser) |
0.71%* | 9.10% | 11.87% | 8.53% |
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| Investment Objective |
Investment Option and Adviser/ Subadviser |
Current Expenses |
Average Annual Total |
||
| 1 Year | 5 Year | 10 Year | |||
| Capital appreciation with achieving current income by investing in equity securities as a secondary goal |
LINCOLN VARIABLE INSURANCEPRODUCTS TRUST LVIP J.P. Morgan Mid Cap Value Fund- Standard Class Lincoln Financial Investments Corporation (Adviser) J.P. Morgan Investment Management Inc. (Subadviser) |
0.74% | 10.91% | 10.98% | 8.05% |
| Capital growth over long term |
LINCOLN VARIABLE INSURANCEPRODUCTS TRUST LVIP J.P. Morgan Small Cap Core Fund-Standard Class Lincoln Financial Investments Corporation (Adviser) J.P. Morgan Investment Management Inc. (Subadviser) |
0.78% | 13.10% | 9.41% | 7.10% |
| Long-term growth of capital by investing primarily in common stocks of U.S. companies operating in sectors investment adviser believes will be fastest growing |
T. ROWE PRICE EQUITY SERIES All-Cap Opportunities T. Rowe Price Associates, Inc. (Adviser) |
0.80%* | 28.96% | 18.96% | 14.57% |
| High level of dividend income and long-term capital growth through investments in large-capitalization stocks of companies with strong track record of paying dividends or that are undervalued |
T. ROWE PRICE EQUITY SERIES Equity Income Portfolio T. Rowe Price Associates, Inc. (Adviser) |
0.74% | 9.54% | 11.20% | 7.84% |
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| Investment Objective |
Investment Option and Adviser/ Subadviser |
Current Expenses |
Average Annual Total |
||
| 1 Year | 5 Year | 10 Year | |||
| Long-term capital appreciation by investing earnings in common stocks of medium sized companies with potential for above- average earnings growth |
T. ROWE PRICE EQUITY SERIES Mid-Cap Growth Portfolio T. Rowe Price Associates, Inc. (Adviser) |
0.84% | 19.96% | 11.63% | 10.50% |
| Highest total return over time consistent with emphasis on both capital growth and income |
T. ROWE PRICE EQUITY SERIES Moderate Allocation Portfolio T. Rowe Price Associates, Inc. (Adviser) |
0.85%* | 15.35% | 7.31% | 5.91% |
| Long-term growth of capital through investments primarily in common stocks of established non-U.S. companies |
T. ROWE PRICE INTERNATIONALSERIES International Stock Portfolio T. Rowe Price Associates, Inc. (Adviser) T. Rowe Price International Ltd and T. Rowe Price Singapore Private Ltd (Subadvisers) |
0.95% | 16.24% | 7.71% | 4.75% |
* These Investment Options and their investment advisers have entered into contractual fee waivers or expense reimbursement arrangements. These temporary fee reductions are reflected in their annual expenses. Those contractual arrangements are designed to reduce total annual portfolio operating expenses for Contract Owners and will continue until at least April 30, 2025.
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[Back Cover Page]
Please retain this Annual Notice with your Contract prospectus for future reference. The last Prospectus and Statement of Additional Information as part of the registration statement we filed with the Securities and Exchange Commission (SEC) are dated May 1, 2009. Both documents contain additional important information about the Contract. You may call us toll-free at 1-877-249-3693 or write to us at Po Box 9353, Des Moines, Iowa 50306-9353, to request additional information and to ask questions about your Contract.
Reports and other information about the Account are available on the SEC website at http://www.sec.gov. Copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: [email protected].
[C000019925]
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