04/25/2024 | Press release | Distributed by Public on 04/25/2024 10:10
Contents
|
Page
|
SPECIAL TERMS
|
3
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IMPORTANT INFORMATION YOU SHOULD
CONSIDER ABOUT THE POLICY
|
5
|
OVERVIEW OF THE POLICY
|
9
|
What is the purpose of the Policy?
|
9
|
When do I have to pay Premiums and how do
they get invested?
|
9
|
What are the primary features and options
that the Policy Offers?
|
9
|
STANDARD DEATH BENEFITS
|
10
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Death Benefit Proceeds
|
10
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Death Benefit Qualification Test
|
10
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Payment of Death Benefit Proceeds
|
10
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OTHER BENEFITS AVAILABLE UNDER THE
POLICY
|
11
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BUYING THE POLICY
|
12
|
Contents
|
Page
|
Premiums
|
12
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Allocation of Net Premium Payments
|
13
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Planned Premiums; Additional Premiums
|
13
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HOW YOUR POLICY CAN LAPSE
|
14
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Reinstatement of a Lapsed Policy
|
14
|
MAKING WITHDRAWALS: ACCESSING THE
MONEY IN YOUR POLICY
|
15
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Partial Surrender
|
15
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ADDITIONAL INFORMATION ABOUT FEES
|
16
|
APPENDIX A: FUNDS AVAILABLE UNDER THE
POLICY
|
A-1
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APPENDIX B: CURRENT INVESTMENT
RESTRICTIONS FOR OPTIONAL BENEFITS -
VALUE PROTECTION RIDER
|
B-1
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FEES AND EXPENSES
|
Location in
Prospectus
|
|
Charges for
Early
Withdrawals
|
For a Full Surrender or Partial Surrender, for up to 19 years from the date
of the Policy and up to 19 years from each increase in Specified Amount,
you could pay a Surrender Charge of up to $56.59 (5.659%) per $1,000
of the Specified Amount.
For example, if your Policy has a Specified Amount of $100,000 and you
Surrender your Policy or take an early withdrawal, you could be
assessed a charge of up to $5,659.
|
•Policy
Charges and
Fees
|
Transaction
Charges
|
In addition to Surrender Charges, you may also be charged for other
transactions, such as when you make a Premium Payment, transfer
Policy Value between Sub-Accounts, take a Partial Surrender or exercise
certain benefits.
|
•Policy
Charges and
Fees
|
Ongoing
Charges (annual
charges)
|
•In addition to Surrender Charges and transaction charges, there are
certain ongoing fees and expenses that are charged annually, monthly
or daily.
•These fees include the Cost of Insurance Charge under the Policy,
optional benefit charges, administrative fees, mortality and expense
risk charges and Policy Loan interest.
•Certain fees are set based on characteristics of the Insured (e.g., age,
gender, and rating classification). You should review your Policy
Specifications page for rates applicable to you.
•Owners will also bear expenses associated with the Underlying Funds
under the Policy, as shown in the following table:
|
•Policy
Charges and
Fees
|
Annual Fee
|
Minimum
|
Maximum
|
Underlying Fund Fees and Expenses*
|
0.23%
|
1.44%
|
*As a percentage of Underlying Fund assets.
|
||
RISKS
|
Location in
Prospectus
|
|
Risk of Loss
|
You can lose money by investing in the Policy, including loss of
principal.
|
•Principal
Risks of
Investing in
the Policy
|
Not a Short-
Term Investment
|
•This Policy is not a short-term investment vehicle and is not
appropriate for an investor who needs ready access to cash.
•Surrender Charges apply for up to 19 years from the Policy Date and
19 years from the date of any increase in your Specified Amount.
•Any charges may reduce the value of your Policy and death benefit.
•Tax deferral is more beneficial to investors with a long-time horizon.
|
•Principal
Risks of
Investing in
the Policy
•Policy
Charges and
Fees
|
RISKS
|
Location in
Prospectus
|
|
Risks
Associated with
Investment
Options
|
•An investment in the Policy is subject to the risk of poor investment
performance of the investment options. Performance can vary
depending on the performance of the investment options available
under the Policy.
•Each investment option (including any Fixed Account investment
option) has its own unique risks. You should review each Underlying
Fund's prospectus before making an investment decision.
|
•Principal
Risks of
Investing in
the Policy
|
Insurance
Company Risks
|
•Any obligations, guarantees, and benefits of the contract including the
Fixed Account investment option are subject to the claims-paying
ability of Lincoln Life. If Lincoln Life experiences financial distress, it
may not be able to meet its obligations to you. More information about
Lincoln Life, including its financial strength ratings, is available upon
request from Lincoln Life by calling 1-800-487-1485 or by visiting
https://www.lfg.com/public/aboutus/investorrelations/
financialinformation.
•You may obtain our audited statutory financial statements, any
unaudited statutory financial statements that may be available as well
as ratings information by visiting our website at www.lfg.com/
VULprospectus.
|
•Principal
Risks of
Investing in
the Policy
•Lincoln Life,
the Separate
Account and
the General
Account
|
Policy Lapse
|
•Sufficient Premiums must be paid to keep your Policy in force. There
is a risk of lapse if Premiums are too small in relation to the insurance
amount and if investment results of the Sub-Accounts you have
chosen are adverse or are less favorable than anticipated.
•While there is no cost to reinstate your Policy we must receive a
payment sufficient to keep your Policy and any reinstated riders in
force for at least two months after the date of reinstatement.
•Outstanding Policy Loans (plus interest) and Partial Surrenders will
increase the risk of lapse. The death benefit will not be paid if the
Policy has Lapsed.
|
•Principal
Risks of
Investing in
the Policy
•Lapse and
Reinstatement
|
RESTRICTIONS
|
Location in
Prospectus
|
|
Investments
|
•We reserve the right to charge for each transfer between Sub-
Accounts in excess of 24 transfers per year.
•We reserve the right to add, remove, or substitute Sub-Accounts as
investment options under the Policy, subject to state or federal laws
and regulations. An Underlying Fund may be merged into another
Underlying Fund. An Underlying Fund may discontinue offering their
shares to the Sub-Accounts.
•There are significant limitations on your right to transfer amounts in
the Fixed Account and, due to these limitations, if you want to transfer
the entire balance of the Fixed Account to one or more Sub-Accounts,
it may take several years to do so.
•We impose Allocation Requirements to reduce the risk of investment
losses that may require us to use our own assets to make guaranteed
payments under the Value Protection Rider and to make payments that
would not be required in the absence of this Rider's provisions. Please
see Appendix B: Current Investment Restrictions for Optional Benefits
|
•Transfer Fee
•Sub-Account
Availability
and
Substitution of
Funds
•Value
Protection
Rider
|
Optional
Benefits
|
•Riders may alter the benefits or charges in your Policy. Rider
availability and benefits may vary by state of issue or selling broker-
dealer and their election may have tax consequences. Riders may have
restrictions or limitations, and we may modify or terminate a rider, as
allowed. If you elect a particular rider, it may restrict or enhance the
terms of your policy, or restrict the availability or terms of other riders
or Policy features.
|
•Riders
|
TAXES
|
Location in
Prospectus
|
|
Tax Implications
|
•You should always consult with a tax professional to determine the tax
implications of an investment in and payments received under the
Policy.
•There is no additional tax benefit to you if the Policy is 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.
|
•Tax Issues
|
CONFLICTS OF INTEREST
|
Location in
Prospectus
|
|
Investment
Professional
Compensation
|
•Your registered representative may receive compensation for selling
the Policy to investors.
•These registered representatives may have a financial incentive to offer
or recommend the Policy over another investment for which the
registered representative is not compensated (or compensated less).
•Registered representatives may be eligible for certain cash and non-
cash benefits. Cash compensation includes bonuses and allowances
based on factors such as sales, productivity and persistency. Non-
cash compensation includes various recognition items such as prizes
and awards as well as attendance at, and payment of the costs
associated with attendance at, conferences, seminars and recognition
trips, and also includes contributions to certain individual plans such
as pension and medical plans.
|
•Distribution of
the Policies
and
Compensation
|
Exchanges
|
Some investment professionals may have a financial incentive to offer
you a new contract in place of the one you already own. You should only
exchange your Policy if you determine, after comparing the features,
fees, and risks of both policies, that it is preferable for you to purchase
the new policy rather than continue to own the existing policy.
|
•Change of
Plan (located
in the SAI)
|
Name of Benefit
|
Purpose
|
Standard or
Optional
|
Brief Description of
Restrictions/Limitations
|
Long-Term Care
Benefits Rider
|
Provides benefit
payments for the
reimbursement of
expenses incurred by
the Insured for
Covered Services.
|
Standard
|
•Amounts we pay and/or reimburse are subject to a
monthly maximum dollar amount each calendar
month.
•Availability is subject to underwriting criteria
(including age and state of health) at time of Policy
purchase only.
•The long-term care services must meet conditions of
the Rider to qualify for reimbursement.
|
Benefit Transfer
Rider
|
Provides
Beneficiary(ies) of an
Eligible Policy the
option to use all or a
portion of the Death
Benefit Proceeds as
a single premium to
purchase, without
underwriting Rider
Benefit.
|
Standard
|
•The Insured under this Policy must be the Beneficiary
of an Eligible Policy, and must make the election to
purchase Rider Benefit under this Rider at the time
they make their election of settlement option under
such Eligible Policy.
•The Insured under this Policy must be no less than
attained age 50 and no more than attained age 120 on
the Purchase Date.
•The LTC Benefit Limit under the Long-Term Care
Benefits Rider attached to the Policy must be greater
than zero on the Purchase Date.
•The Insured under this Policy must be living on the
Purchase Date.
|
Name of Benefit
|
Purpose
|
Standard or
Optional
|
Brief Description of
Restrictions/Limitations
|
Value Protection
Rider
|
Provides lapse
protection if certain
conditions are met.
Also provides a level
of protection against
market down turns
for accrued long-
term care benefits.
|
Standard
|
•Lapse protection is subject to meeting the Premium
Payment requirements of the No-Lapse Premium
Test.
•Maintaining Automatic Rebalancing on a quarterly
basis complying with the allocation requirements
described in the prospectus is required to keep this
rider in force.
|
Automatic
Rebalancing
|
To periodically
restore Sub-Account
exposure to a pre-
determined level
selected by the
policyholder to
reduce potential risk
of exposure to
market volatility.
|
Standard
|
•Must be active to maintain the Value Protection Rider
(see Riders).
•Is only available on a quarterly basis.
|
Dollar Cost
Averaging
|
An investment
strategy that divides
up the total amount
to be invested in one
or more Sub-
Accounts over a
specified period of
time. This averages
the purchase cost of
the assets over time
and helps to reduce
the potential impact
of market volatility.
|
Optional
|
•Available at Policy purchase only.
•In effect for 1st Policy Year or until funds are all
moved.
•Moves money from Fixed Account or Money Market
Sub-Account to other Sub-Accounts.
•Cannot move money to the same account money is
being taken from.
•Automatically moves to Automatic Rebalancing after
1st year.
|
Policy Loans
|
Borrow against the
Surrender Value of
your Policy.
|
Optional
|
•We may limit the amount of your loan so that total
Debt under the Policy will not exceed 90% of an
amount equal to the Accumulation Value less
Surrender Charge.
•Amounts transferred to the Loan Account do not
participate in the performance of the Sub-Accounts or
the Fixed Account.
|
Charge
|
When Charge
is Deducted
|
Amount
Deducted
|
Maximum Sales Charge
Imposed on Premiums
(Load)
|
When you pay a Premium
|
As a percentage of the Premium
Payment paid:1
|
•25% in all Policy Years
|
||
Premium Tax
|
When you pay a Premium
|
Inclusive of 2% charge for state
premium and federal tax obligations
|
Maximum Surrender
Charge (Load)*
|
When you take a Full Surrender or
reduce the Specified Amount2,3
|
•Maximum charge: $56.59 per $1,000
of Specified Amount
|
•Maximum Charge for a
Representative Insured (female, age
45, standard, in year one): $24.41
per $1,000 of Specified Amount
|
||
Partial Surrender Fee
|
When a Partial Surrender is made
|
$56.59 per $1,000 withdrawn plus
$150
|
Transfer Fee
|
Applied to any transfer request in
excess of 24 made during any Policy
Year
|
$25 for each additional transfer
|
Charge
|
When Charge is Deducted
|
Amount Deducted
|
Base Contract Charges
|
||
Cost of Insurance*
|
Monthly
|
As a dollar amount per $1,000 of Net
Amount at Risk1:
|
•Maximum: $83.33333 per $1,000
|
||
•Minimum: $0.04084 per $1,000
|
||
•Maximum Charge for a
Representative Insured (female, age
45, standard non-tobacco, in year
one): $0.12008 per $1,000
|
||
Mortality and Expense Risk
Charge ("M&E")
A percentage of the value
of the Separate Account
calculated monthly.
|
Monthly
|
Maximum of 1.26% (effective annual
rate)1
|
Maximum Asset Charge
A percentage of the value
of the Fixed Account and
Loan Account, calculated
monthly.
|
Monthly
|
Maximum of 1.26% (effective annual
rate)1
|
Administrative Fee*
|
Monthly
|
For a period of longer than 20 Policy
Years or increase in Specified Amount,
a monthly fee per $1,000:
|
•Maximum: $1.002 per $1,000
|
||
•Minimum: $0.291 per $1,000
|
||
•Maximum Charge for a
Representative Insured (female, age
45, standard, non-tobacco): $0.439
per $1,000
|
||
Policy Loan Interest
|
Annually
|
A percentage of the amount held in the
Loan Account:2
|
•3.00%
|
Charge
|
When Charge is Deducted
|
Amount Deducted
|
Optional Benefit Charges
|
||
Long-Term Care Benefits
Rider*
|
Monthly
|
As a dollar amount per $1,000 the
highest Benefit Value:
|
•Maximum: $2.05370 per $1,000
|
||
•Minimum: $0.05424 per $1,000
|
||
•Maximum Charge for a
Representative Insured (male, age
45): $1.09327 per $1,000
|
||
Benefit Transfer Rider Loan
|
Annually
|
A percentage of the Loan balance
amount against the Rider's Cash
Surrender Value:
|
•4%
|
Annual Fund Expenses
|
Minimum
|
Maximum
|
(expenses are deducted from fund assets, including management fees, distribution,
and/or 12b-1 fees, and other expenses)
|
0.23%
|
1.44%*
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
Long-term growth of capital.
|
ClearBridge Variable Mid
Cap Portfolio - Class I
advised by Legg Mason
Partners Fund Advisor, LLC
|
0.83%
|
12.92%
|
10.73%
|
7.10%
|
Long-term capital appreciation.
|
Fidelity® VIP Contrafund®
Portfolio - Initial Class
|
0.56%
|
33.45%
|
16.65%
|
11.61%
|
To provide long-term capital
appreciation.
|
First Trust Capital Strength
Hedged Equity Portfolio -
Class I
This fund will be available
on or about May 13, 2024.
Please consult your
registered representative.
|
1.25%2
|
N/A
|
N/A
|
N/A
|
To provide capital appreciation.
|
First Trust Capital Strength
Portfolio - Class I
This fund will be available
on or about May 13, 2024.
Please consult your
registered representative.
|
1.10%2
|
7.75%
|
N/A
|
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
I
This fund will be available
on or about May 13, 2024.
Please consult your
registered representative.
|
1.19%
|
10.51%
|
7.23%
|
6.53%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
A balance between a high level of
current income and growth of
capital, with an emphasis on growth
of capital. A fund of funds.
|
LVIP American Balanced
Allocation Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.58%2
|
13.68%
|
8.01%
|
6.09%
|
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 - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.59%2
|
14.95%
|
8.55%
|
6.49%
|
A high level of current income with
some consideration given to growth
of capital. A fund of funds.
|
LVIP American Income
Allocation Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.58%2
|
10.77%
|
6.10%
|
4.87%
|
Capital Appreciation.
|
LVIP Baron Growth
Opportunities Fund -
Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.90%2
|
18.10%
|
13.95%
|
9.62%
|
High total investment return.
|
LVIP BlackRock Global
Allocation Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.73%2
|
13.62%
|
N/A
|
N/A
|
To maximize real return, consistent
with preservation of real capital and
prudent investment management.
|
LVIP BlackRock Inflation
Protected Bond Fund -
Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.63%
|
5.07%
|
3.16%
|
2.19%
|
Total return through a combination
of current income and long-term
capital appreciation.
|
LVIP BlackRock Real Estate
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.82%2
|
13.06%
|
4.76%
|
3.85%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
Long-term capital appreciation.
|
LVIP Dimensional
International Core Equity
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.62%2
|
16.01%
|
7.99%
|
N/A
|
Long-term capital appreciation.
|
LVIP Dimensional U.S.
Core Equity 2 Fund -
Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.49%
|
21.65%
|
14.73%
|
N/A
|
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 - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.39%2
|
4.75%
|
1.61%
|
0.99%
|
Current income and some capital
appreciation. A fund of funds.
|
LVIP JPMorgan Retirement
Income Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.68%2
|
11.60%
|
5.02%
|
3.94%
|
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 - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.77%2
|
36.85%
|
13.68%
|
N/A
|
Maximum current income (yield)
consistent with a prudent
investment strategy.
|
LVIP Macquarie Bond Fund
- Standard Class3
advised by Lincoln
Financial Investments
Corporation
|
0.37%
|
5.93%
|
1.50%
|
1.99%
|
To maximize long-term capital
appreciation.
|
LVIP Macquarie Mid Cap
Value Fund - Standard
Class3
advised by Lincoln
Financial Investments
Corporation
|
0.43%
|
11.24%
|
11.88%
|
8.62%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
To maximize long-term capital
appreciation.
|
LVIP Macquarie Social
Awareness Fund -
Standard Class3
advised by Lincoln
Financial Investments
Corporation
|
0.45%
|
30.17%
|
15.86%
|
11.32%
|
Long-term capital appreciation.
|
LVIP MFS International
Growth Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.80%2
|
14.71%
|
9.83%
|
6.58%
|
Capital Appreciation.
|
LVIP MFS Value Fund -
Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.62%2
|
8.07%
|
11.38%
|
8.57%
|
Current income consistent with the
preservation of capital.
|
LVIP Mondrian Global
Income Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.65%2
|
4.02%
|
-0.92%
|
0.26%
|
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 -
Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.75%2
|
20.11%
|
6.03%
|
3.45%
|
To seek a high level of current
income consistent with
preservation of capital.
|
LVIP PIMCO Low Duration
Bond Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.68%2
|
4.87%
|
1.30%
|
N/A
|
To match as closely as practicable,
before fees and expenses, the
performance of the Bloomberg U.S.
Aggregate Index.
|
LVIP SSGA Bond Index
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.37%2
|
5.30%
|
0.78%
|
1.49%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
A high level of current income, with
some consideration given to growth
of capital. A fund of funds.
|
LVIP SSGA Conservative
Index Allocation Fund -
Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.51%2
|
10.73%
|
5.28%
|
4.09%
|
To provide investment results that,
before fees and expenses,
correspond generally to the total
return of the MSCI Emerging
Markets Index that tracks
performance of emerging market
equity securities.
|
LVIP SSGA Emerging
Markets Equity Index Fund
- Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.50%2
|
8.83%
|
2.74%
|
N/A
|
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 - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.39%2
|
17.57%
|
7.96%
|
4.02%
|
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 - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.35%2
|
16.05%
|
12.22%
|
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 SSGA Moderate Index
Allocation Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.51%
|
13.57%
|
7.38%
|
5.33%
|
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 - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.51%
|
14.82%
|
8.04%
|
5.72%
|
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 - Standard Class4
advised by Lincoln
Financial Investments
Corporation
|
0.23%
|
26.01%
|
15.41%
|
11.77%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
To 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 -
Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.36%2
|
5.17%
|
1.87%
|
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 - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.38%2
|
16.50%
|
9.52%
|
6.74%
|
The highest total return over time
consistent with an emphasis on
both capital growth and income. A
fund of funds.
|
LVIP T. Rowe Price 2020
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.66%2
|
13.54%
|
7.41%
|
4.90%
|
The highest total return over time
consistent with an emphasis on
both capital growth and income. A
fund of funds.
|
LVIP T. Rowe Price 2030
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.68%2
|
16.14%
|
9.08%
|
5.46%
|
The highest total return over time
consistent with an emphasis on
both capital growth and income. A
fund of funds.
|
LVIP T. Rowe Price 2040
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.70%2
|
19.19%
|
10.72%
|
6.11%
|
The highest total return over time
consistent with an emphasis on
both capital growth and income. A
fund of funds.
|
LVIP T. Rowe Price 2050
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.72%2
|
20.30%
|
11.25%
|
6.57%
|
The highest total return over time
consistent with an emphasis on
both capital growth and income. A
fund of funds.
|
LVIP T. Rowe Price 2060
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.72%2
|
20.31%
|
N/A
|
N/A
|
To maximize capital appreciation.
|
LVIP T. Rowe Price
Structured Mid-Cap
Growth Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.72%2
|
21.17%
|
13.50%
|
10.81%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
Long-term capital appreciation. A
fund of funds.
|
LVIP Vanguard Domestic
Equity ETF Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.32%2
|
25.22%
|
14.84%
|
11.09%
|
Long-term capital appreciation. A
fund of funds.
|
LVIP Vanguard
International Equity ETF
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.34%2
|
15.36%
|
7.11%
|
4.00%
|
Capital growth.
|
LVIP Wellington Capital
Growth Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.70%2
|
38.70%
|
16.98%
|
13.91%
|
Long-term capital appreciation.
|
Macquarie VIP Emerging
Markets Series - Standard
Class3
advised by Delaware
Management Company
|
1.18%2
|
13.79%
|
4.20%
|
2.67%
|
Capital Appreciation.
|
Macquarie VIP Small Cap
Value Series - Standard
Class3
advised by Delaware
Management Company
|
0.78%
|
9.45%
|
10.21%
|
7.06%
|
Capital Appreciation.
|
MFS® VIT II Core Equity
Portfolio - Initial Class
advised by Massachusetts
Financial Services
Company
|
0.81%2
|
23.14%
|
15.08%
|
11.61%
|
Capital Appreciation.
|
MFS® VIT New Discovery
Series - Initial Class
advised by Massachusetts
Financial Services
Company
|
0.87%2
|
14.41%
|
11.08%
|
7.67%
|
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 IA
|
0.67%
|
20.26%
|
10.71%
|
8.30%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
Income and capital appreciation. A
fund of funds.
|
TOPS® Balanced ETF
Portfolio - Service Class
Shares
advised by Valmark
Advisers, Inc.
|
0.60%
|
11.32%
|
N/A
|
N/A
|
Capital Appreciation. A fund of
funds.
|
TOPS® Moderate Growth
ETF Portfolio - Service
Class Shares
advised by Valmark
Advisers, Inc.
|
0.59%
|
13.36%
|
N/A
|
N/A
|
Tier 1
No restrictions or requirements exist on
Tier 1 Sub-Accounts or in the Fixed
Account if the total investment in Tier 3 is
zero. If there any investments in Tier 3,
then investments in Tier 1 Sub-Accounts
and/or in the Fixed Account must account
for at least 20% of the Accumulation
Value.
|
Tier 2
No restrictions or requirements exist on
Tier 2 Sub-Accounts.
|
Tier 3
Any investment in any Tier 3 Sub-Accounts
activates the 20% requirement in the Tier 1
Sub-Accounts and/or the Fixed Account.
|
•LVIP BlackRock Inflation Protected Bond
Fund
•LVIP Government Money Market Fund
•LVIP Macquarie Bond Fund
•LVIP Mondrian Global Income Fund
•LVIP PIMCO Low Duration Bond Fund
•LVIP SSGA Bond Index Fund
•LVIP SSGA Short-Term Bond Index Fund
|
•First Trust Capital Strength Hedged Equity
Portfolio
•First Trust/Dow Jones Dividend & Income
Allocation Portfolio
•LVIP American Balanced Allocation Fund
•LVIP American Growth Allocation Fund
•LVIP American Income Allocation Fund
•LVIP BlackRock Global Allocation Fund
•LVIP JPMorgan Retirement Income Fund
•LVIP SSGA Conservative Index Allocation
Fund
•LVIP SSGA Moderate Index Allocation
Fund
•LVIP SSGA Moderately Aggressive Index
Allocation Fund
•LVIP T. Rowe Price 2020 Fund
•LVIP T. Rowe Price 2030 Fund
•LVIP T. Rowe Price 2040 Fund
•LVIP T. Rowe Price 2050 Fund
•LVIP T. Rowe Price 2060 Fund
•Putnam VT George Putnam Balanced
Fund
•TOPS® Balanced ETF Portfolio
•TOPS® Moderate Growth ETF Portfolio
|
•ClearBridge Variable Mid Cap Portfolio
•Fidelity® VIP Contrafund® Portfolio
•First Trust Capital Strength Portfolio
•LVIP Baron Growth Opportunities Fund
•LVIP BlackRock Real Estate Fund
•LVIP Dimensional International Core
Equity Fund
•LVIP Dimensional U.S. Core Equity 2
Fund
•LVIP Loomis Sayles Global Growth Fund
•LVIP Macquarie Mid Cap Value Fund
•LVIP Macquarie Social Awareness Fund
•LVIP MFS International Growth Fund
•LVIP MFS Value Fund
•LVIP Mondrian International Value Fund
•LVIP SSGA Emerging Markets Equity
Index Fund
•LVIP SSGA International Index Fund
•LVIP SSGA Mid-Cap Index Fund
•LVIP SSGA S&P 500 Index Fund
•LVIP SSGA Small Cap Index Fund
•LVIP T. Rowe Price Structured Mid-Cap
Growth Fund
•LVIP Vanguard Domestic Equity ETF Fund
•LVIP Vanguard International Equity ETF
Fund
•LVIP Wellington Capital Growth Fund
•Macquarie VIP Emerging Markets Series
•Macquarie VIP Small Cap Value Series
•MFS® VIT New Discovery Series
•MFS® VIT II Core Equity Portfolio
|