05/01/2024 | Press release | Distributed by Public on 05/01/2024 09:56
Contents
|
Page
|
SPECIAL TERMS
|
3
|
IMPORTANT INFORMATION YOU SHOULD
CONSIDER ABOUT THE POLICY
|
6
|
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
|
Fee Table
|
10
|
PRINCIPAL RISKS OF INVESTING IN THE
POLICY
|
14
|
LINCOLN LIFE, THE SEPARATE ACCOUNT AND
THE GENERAL ACCOUNT
|
17
|
Fund Participation Agreements
|
19
|
Distribution of the Policies and
Compensation
|
19
|
Sub-Accounts and Funds
|
20
|
Sub-Account Availability and Substitution of
Funds
|
22
|
Voting Rights
|
23
|
Indexed Account Options
|
23
|
POLICY CHARGES AND FEES
|
25
|
Premium Load; Net Premium Payment
|
26
|
Premium Tax
|
26
|
Surrender Charges
|
26
|
Partial Surrender Fee
|
27
|
Transfer Fee
|
27
|
Cost of Insurance Charge
|
27
|
Mortality and Expense Risk Charge
|
28
|
Administrative Fee
|
28
|
Policy Loan Interest
|
29
|
Rider Charges
|
29
|
YOUR INSURANCE POLICY
|
30
|
Application
|
31
|
Owner
|
31
|
Right to Examine Period
|
32
|
Initial Specified Amount
|
32
|
Transfers
|
32
|
Market Timing
|
33
|
OTHER BENEFITS AVAILABLE UNDER THE
POLICY
|
35
|
Contents
|
Page
|
Optional Sub-Account Allocation Programs
|
49
|
Benefit Selection Option
|
50
|
Continuation of Coverage
|
52
|
Termination of Coverage
|
52
|
State Regulation
|
52
|
PREMIUMS
|
53
|
Allocation of Net Premium Payments
|
53
|
Planned Premiums; Additional Premiums
|
53
|
Policy Values
|
54
|
Index Bonus
|
55
|
Persistency Bonus
|
56
|
Annual Statement
|
56
|
DEATH BENEFITS
|
56
|
Death Benefit Proceeds
|
56
|
Death Benefit Options
|
56
|
Changes to the Initial Specified Amount and
Death Benefit Options
|
57
|
Death Benefit Qualification Test
|
58
|
Payment of Death Benefit Proceeds
|
59
|
POLICY SURRENDERS
|
60
|
Partial Surrender
|
60
|
POLICY LOANS
|
61
|
LAPSE AND REINSTATEMENT
|
63
|
No-Lapse Provision
|
64
|
Reinstatement of a Lapsed Policy
|
65
|
TAX ISSUES
|
65
|
Taxation of Life Insurance Contracts in
General
|
66
|
Policies That Are MECs
|
67
|
Policies That Are Not MECs
|
67
|
Other Considerations
|
68
|
Fair Market Value of Your Policy
|
69
|
Tax Status of Lincoln Life
|
70
|
RESTRICTIONS ON FINANCIAL TRANSACTIONS
|
70
|
LEGAL PROCEEDINGS
|
70
|
FINANCIAL STATEMENTS
|
70
|
APPENDIX A: FUNDS AVAILABLE UNDER THE
POLICY
|
A-1
|
FEES AND EXPENSES
|
Location in
Prospectus
|
|
Charges for
Early
Withdrawals
|
For a Full Surrender, for up to 15 years from the date of the Policy, 10
years from each decrease in Specified Amount and up to 15 years from
each increase in Specified Amount, you could pay a Surrender Charge of
up to $53.41 (5.341%) per $1,000 of the Specified Amount.
For example, if your Policy has a Specified Amount of $100,000 and you
surrender your Policy, you could be assessed a charge of up to $5,341.
|
•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 or exercise certain benefits.
|
•Policy
Charges and
Fees
|
Ongoing Fees
and Expenses
(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%
|
1.64%
|
*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 15 years from the Policy Date and
up to 15 years from the date of any increase in your Specified Amount.
•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 a Fixed Account investment option)
and Indexed Account 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 and Indexed
Account Option(s) you have chosen are adverse or are less favorable
than anticipated.
•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 and/
or Indexed 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.
|
•Transfer Fee
•Sub-Account
Availability
and
Substitution of
Funds
|
RESTRICTIONS
|
Location in
Prospectus
|
|
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.
•Withdrawals will be subject to ordinary income tax, and may be
subject to tax penalties.
•There is no additional tax benefit to you if the Policy is purchased
through a tax-qualified plan or individual retirement account (IRA).
|
•Tax Issues
|
CONFLICTS OF INTEREST
|
Location in
Prospectus
|
|
Investment
Professional
Compensation
|
•Investment professionals typically receive compensation for selling the
Policy to investors.
•Registered representatives may have a financial incentive to offer or
recommend the Policy over another investment for which the
investment professional 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)
|
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:
|
•5% in all Policy Years
|
||
Premium Tax
|
When you pay a Premium
|
Up to a 3% charge included in the
Sales Charges included in the Premium
(Load)1
|
Maximum Deferred Sales
Charge (Load)*
|
When you take a Full Surrender or
reduce the Specified Amount2, 3
|
•Maximum charge: $53.41 (5.341%)
per $1,000 of Specified Amount
|
•Maximum Charge for a
Representative Insured (male, age
45, standard non-tobacco, in year
one): $37.47 per $1,000 of Specified
Amount
|
||
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: $83.33 per $1,000
|
||
•Minimum: $0.00 per $1,000
|
||
•Maximum Charge for a
Representative Insured (male, age
45, standard non-tobacco, in year
one): $0.13 per $1,000
|
||
Mortality and Expense Risk
Charge ("M&E")
|
At end of each Valuation Period
|
Maximum of 0.20%, effective annual
rate, as a percentage of Separate
Account Value, calculated daily
|
Administrative Fee*
|
Monthly
|
•Maximum of $15, plus an additional
amount up to a maximum of $1.97
per $1,000 of Initial Specified
Amount or increase in Specified
Amount2
|
•Plus: Indexed Account Asset Charge;
a percentage of the Holding Account
Value and Indexed Account Value up
to a maximum of 0.15% (effective
annual rate)
|
Charge
|
When Charge is Deducted
|
Amount Deducted
|
Policy Loan Interest3
|
Annually
|
Fixed Loan: as a percentage of amount
held in the Loan Account.
|
•4%
|
||
Participating Loan: as a percentage of
the loaned amount held against the
Holding Account Value and the Indexed
Account Value.
|
||
•6%
|
||
Exec Enhanced Surrender
Value Rider - Multi-Life
Basis (Lincoln AssetEdge®
Exec VUL 2015)4
|
Monthly (in Policy Years 2-5 only)
|
A dollar amount per $1,000 of Initial
Specified Amount
|
•Option 1: $0.05
|
||
•Option 2: $0.075
|
||
Interest on Accelerated
Benefit Lien
|
Annually
|
4%, as an annualized percentage of
Accelerated Benefit up to Surrender
Value.
|
Variable, as an annualized percentage
of Accelerated Benefit exceeding
Surrender Value.5
|
||
Overloan Protection Rider
|
Upon use of the benefit
|
One-time charge subject to a maximum
of 5%, as a percentage of current
Accumulation Value6
|
Optional Benefit Charges
|
||
Basic Accelerated Benefits
Riders7
|
Upon any payment of the rider benefit
|
$250, deducted from the benefit
payment
|
Enhanced Surrender Value
Rider - Individual Basis8
|
Monthly (in Policy Years 2-5 only)
|
$0.05 per $1,000 of Initial Specified
Amount
|
Lincoln LifeEnhance®
Accelerated Benefits Rider
|
Monthly
|
As a dollar amount per $1,000 of Net
Amount at Risk or Rider Net Amount at
Risk, as applicable:
|
•Maximum: $4.47 per $1,0009
|
||
•Minimum: $0.00 per $1,000
|
||
•Maximum Charge for a
Representative Insured (male, age
45, standard non-tobacco, in year
one): $0.09 per $1,000
|
Charge
|
When Charge is Deducted
|
Amount Deducted
|
Waiver of Monthly
Deduction Rider10
|
Monthly
|
Rate factor as a percentage of all other
covered monthly charges:
|
•Maximum: 12%
|
||
•Minimum: 2%
|
||
•Maximum Charge for a
Representative Insured (male, age
45, standard non-tobacco): 3.5%
|
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%
|
1.64%*
|
Crediting Rate by Indexed Account Option
|
|||
Hypothetical
Index Return
|
1 Year PTP Capped
Indexed Account Option
Cap: 10%
Participation Rate: 100%
|
1 Year PTP Uncapped
Indexed Account Option
Cap: N/A
Participation Rate: 55%
|
1 Year PTP High
Participation Indexed
Account Option
Cap: 8.5%
Participation Rate: 140%
|
-4%
|
1%
|
1%
|
1%
|
6%
|
6%
|
3.3%
|
8.4%
|
Crediting Rate by Indexed Account Option
|
|||
Hypothetical
Index Return
|
1 Year PTP Capped
Indexed Account Option
Cap: 10%
Participation Rate: 100%
|
1 Year PTP Uncapped
Indexed Account Option
Cap: N/A
Participation Rate: 55%
|
1 Year PTP High
Participation Indexed
Account Option
Cap: 8.5%
Participation Rate: 140%
|
8%
|
8%
|
4.4%
|
8.5%
|
15%
|
10%
|
8.25%
|
8.5%
|
32%
|
10%
|
17.6%
|
8.5%
|
Based on the
assumptions shown,
performs best when
Index returns
approximately:
|
8.5% to 18.18%
|
18.18% and up
|
0.72% to 8.5%
|
If, on the Policy Date
(or date of increase in Specified Amount), the
Insured is:
|
The Surrender Charge Period as it relates to the
Initial Specified Amount or any increase in Specified Amount is:
|
•Ages 0-55,
|
15 years
|
•Age 56,
|
14 years
|
•Age 57,
|
13 years
|
•Age 58,
|
12 years
|
•Age 59,
|
11 years
|
•Age 60 and above,
|
10 years
|
All Policy Years
|
Guaranteed Maximum: 0.20%
|
Name of Benefit
|
Purpose
|
Standard or
Optional
|
Brief Description of
Restrictions/Limitations
|
Exec Enhanced
Surrender Value
Rider - Multi-Life
Basis
|
Provides an
Enhanced Surrender
Value if your Policy if
fully surrendered
during the Exec
Enhanced Surrender
Value Period. It may
also provide a credit
for a portion of the
monthly
Administrative Fees
during this period
depending on the
Rider option elected.
|
Standard
|
•Available at Policy purchase only.
•Rider is required and will be automatically issued for
Policies purchased as a business or entity on a multi-
life basis.
|
Name of Benefit
|
Purpose
|
Standard or
Optional
|
Brief Description of
Restrictions/Limitations
|
Overloan
Protection Rider
|
Provides that your
Policy will not lapse
solely based on Debt
exceeding the
Surrender Value.
|
Standard
|
•Automatically issued at Policy purchase if Guideline
Premium Test is chosen. Not available if Cash Value
Accumulation Test is chosen.
•Once you exercise the benefit, the following changes
will be made to your Policy:
•We will no longer allow Premium Payments, Partial
Surrenders, or changes to the Specified Amount.
•All other riders will be terminated.
•No additional Monthly Deductions will be taken.
•The Separate Account Value will be transferred to the
Fixed Account.
•The Policy will become paid-up insurance (i.e. no
further payment will be required).
|
Basic Accelerated
Benefits Riders
|
Advances a portion
of the death benefit
upon Insured being
Terminally Ill,
critically ill or
confined to a nursing
home.
|
Optional
|
•Version 1: available at Policy purchase or anytime
thereafter; Version 2: available at Policy purchase
only.
•Availability is subject to underwriting criteria
(including age and state of health).
•Terminal illness coverage is up to 50% of the death
benefit.
•Nursing Home Confinement coverage is up to 40% of
the death benefit.
•Terminal Illness coverage and Nursing Home
Confinement coverage is subject to an overall
maximum of $250,000.
•Version 2: critical illness coverage is 5% of the death
benefit not to exceed $25,000 upon the occurrence of
the first critical illness.
•The illness or confinement must meet conditions of
the Rider to qualify for payments.
•Benefits received from this rider will terminate any
other Accelerated Benefit rider.
|
Name of Benefit
|
Purpose
|
Standard or
Optional
|
Brief Description of
Restrictions/Limitations
|
Lincoln
LifeEnhance®
Accelerated
Benefits Rider
|
Advances payment
of up to 100% of the
Original Benefit upon
the occurrence of
chronic or terminal
illness.
|
Optional
|
•Available at Policy purchase only.
•Start of benefit payments will terminate the Enhanced
Surrender Value Rider and Exec Enhanced Surrender
Value Rider, if applicable.
•Availability subject to underwriting criteria (including
age and state of health) at time of Policy purchase
only.
•The chronic illness or terminal Illness, must meet
conditions of the Rider to qualify for payments.
|
Change of
Insured Rider
|
Permits a change in
the person who is
Insured under the
Policy.
|
Optional
|
•Available at Policy purchase or until the Attained Age
of 65.
•Availability may vary by selling broker dealer. You
may obtain information about the optional benefits
that are available through your broker dealer by
contacting your broker dealer or our Administrative
Office.
•Benefit ceases to be available on the contract
anniversary nearest to the current Insured's 65th
birthday.
•The new Insured is subject to underwriting
requirements.
•Policy value requirements apply.
•Policy charges applicable to the new Insured may
differ from charges applicable to the current Insured.
•Any change in Insured is a taxable event.
|
Enhanced
Surrender Value
Rider - Individual
Basis
|
Provides an
Enhanced Surrender
Value free of a
Surrender Charge if
you fully surrender
your Policy during
the first five Policy
Years.
|
Optional
|
•Available at Policy purchase only.
|
Waiver of
Monthly
Deduction Rider
|
Waives Monthly
Deductions during
periods of total
disability.
|
Optional
|
•Available at Policy purchase only.
•The disability must meet conditions and commence
prior to the Policy Anniversary nearest the Insured's
65th birthday to qualify for payments.
|
Name of Benefit
|
Purpose
|
Standard or
Optional
|
Brief Description of
Restrictions/Limitations
|
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 issue or any time after Policy issue
by contacting our Administrative Office.
•You may select on a monthly or quarterly basis.
•Transfers from the Fixed Account can only be elected
at the time your Policy is issued.
•Systematically transfers amounts from the money
market Sub-Account or on a limited basis from the
Fixed Account.
•Automatically terminates under certain conditions.
|
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.
|
Optional
|
•You may select a quarterly, semi-annual or annual
basis.
•The Fixed Account and the Indexed Account are not
subject to rebalancing.
•May be elected, terminated, or the allocation may be
changed at any time.
|
Benefit Selection
Option
|
Reduces the Monthly
Administrative
Expense Fee
deducted from the
Policy and thereby
reduces the cost of
the death benefit
provided by the
Policy. Provides
opportunity to have a
larger Accumulation
Value allocated to the
Fixed Account and
invested in the Sub-
Accounts.
|
Optional
|
•Available at Policy purchase only.
•Election of this option is made by selecting a
percentage from 1 to 100.
•Election is irrevocable and cannot be changed or
terminated after Policy issue.
•If elected, Benefit Selection Option reduces the
Specified Amount used to calculate Death Benefit
Proceeds under the Continuation of Coverage
provision.
|
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.
|
Without
ESV Rider
|
With Exec ESV Rider - Option 1
|
With Exec ESV
Rider - Option 2
|
||||
End of Year
|
Accumulation
Value
|
Surrender
Value
|
Accumulation
Value
|
Enhanced Surrender
Value
|
Accumulation
Value
|
Enhanced Surrender
Value
|
1
|
$40,139
|
$0
|
$40,139
|
$40,139
|
$40,139
|
$51,114
|
2
|
$83,309
|
$0
|
$81,748
|
$81,748
|
$80,968
|
$91,943
|
3
|
$129,740
|
$14,565
|
$126,500
|
$126,500
|
$124,881
|
$135,856
|
4
|
$179,677
|
$68,202
|
$174,632
|
$174,632
|
$172,110
|
$183,085
|
5
|
$233,385
|
$125,610
|
$226,399
|
$226,399
|
$222,906
|
$233,881
|
6
|
$291,150
|
$187,050
|
$283,636
|
$283,636
|
$279,879
|
$279,879
|
7
|
$353,277
|
$252,827
|
$345,196
|
$345,196
|
$341,155
|
$341,155
|
8
|
$420,096
|
$323,246
|
$411,405
|
$411,405
|
$407,059
|
$407,059
|
9
|
$491,369
|
$398,044
|
$482,018
|
$482,018
|
$477,343
|
$477,343
|
10
|
$566,985
|
$477,160
|
$556,920
|
$556,920
|
$551,887
|
$551,887
|
11
|
$660,416
|
$585,491
|
$649,575
|
$649,575
|
$644,155
|
$644,155
|
12
|
$759,868
|
$700,568
|
$748,185
|
$748,185
|
$742,344
|
$742,344
|
13
|
$865,833
|
$821,133
|
$853,234
|
$853,234
|
$846,934
|
$846,934
|
14
|
$978,868
|
$947,718
|
$965,270
|
$965,270
|
$958,471
|
$958,471
|
15
|
$1,099,585
|
$1,080,960
|
$1,084,895
|
$1,084,895
|
$1,077,551
|
$1,077,551
|
End of Year
|
Accumulation
Value Without ESV Rider
|
Surrender
Value Without ESV Rider
|
Accumulation
Value With ESV Rider
|
Enhanced Surrender
Value With ESV Rider
|
1
|
$48,917
|
$0
|
$48,917
|
$48,917
|
2
|
$101,529
|
$30,189
|
$100,593
|
$100,593
|
3
|
$158,115
|
$89,010
|
$156,171
|
$156,171
|
4
|
$218,973
|
$152,088
|
$215,946
|
$215,946
|
5
|
$284,428
|
$219,763
|
$280,236
|
$280,236
|
Male, 55 Year Old, Standard Non-tobacco
|
|||
Benefit Selection
Option
|
Monthly Administrative
Expense Fee
|
Continuation
of Coverage
Specified Amount
|
Result
|
Election: None
|
$0.42167 per
thousand of Specified
Amount (higher)
|
100% of Specified
Amount (higher)
|
This option offers the full Specified
Amount during Continuation of
Coverage. The price of the protection
is reflected in the higher Monthly
Administrative Expense Fee.
|
Election: 50%
|
$0.26084 per
thousand of Specified
Amount (lower)
|
50% of Specified
Amount (lower)
|
This option offers less than the full
Specified Amount during
Continuation of Coverage. The
Monthly Administrative Expense Fee
is reduced in exchange. Therefore,
this option allows somewhat more
money to be invested in the Sub-
Accounts or allocated to the Fixed
Account and Indexed Account while
providing a part of the Specified
Amount during Continuation of
Coverage.
|
Election: 100%
|
$0.10000 per
thousand of Specified
Amount (lowest)
|
0% of Specified
Amount (lowest)
|
This option offers no Continuation of
Coverage Specified Amount. The
Monthly Administrative Expense Fee
is reduced in exchange. Therefore,
this option allows more money to be
invested in the Sub-Accounts or
allocated to the Fixed Account and
Indexed Account.
|
Option
|
Death Benefit Proceeds Equal to the
|
Variability
|
1
|
The greater of: the Specified Amount less Debt or a percentage of
the Accumulation Value equal to that required by the Internal
Revenue Code to maintain the Policy as a life insurance policy less
Debt. The Death Benefit Proceeds are reduced by any Partial
Surrenders after the date of death.
|
May increase or decrease over
time, depending on the amount
of Premium paid and the
investment performance of the
Sub-Accounts or the interest
credited to the Fixed Account and
Indexed Account.
|
2
|
The greater of:
a)the sum of the Specified Amount plus the Accumulation Value as
of the date of the Insured's death, less any Partial Surrenders and
Debt after the date of death; or
b)the Specified Amount as of the date of the Insured's death,
multiplied by 115%, less any Partial Surrenders and Debt after
the date of death.
|
May increase or decrease over
time, depending on the amount
of Premium paid and the
investment performance of the
Sub-Accounts or the interest
credited to the Fixed Account and
Indexed Account.
|
3
|
Sum of the Specified Amount plus the accumulated Premiums, up
to the Death Benefit Option 3 limit as shown on the Policy
Specifications less any Partial Surrenders and Debt after the date of
death.
|
Will generally increase,
depending on the amount of
Premium paid.
|
Option change
|
Impact
|
2 to 1
|
The Specified Amount will be increased by the greater of:
a)the Accumulation Value as of the effective date of change; or
b)the Specified Amount as of the Monthly Anniversary Day on or next following the date we
receive the request for a change, multiplied by 15%.
(This changes the death benefit under the Policy from one that may increase over time by the
growth in the Accumulation Value to a level death benefit.)
|
3 to 1
|
The Specified Amount will be increased by accumulated Premiums up to the Death Benefit
Option 3 limit as shown on the Policy Specifications as of the effective date of the change.
|
Death Benefit
Option in Effect
|
Impact of Partial Surrender
|
1
|
The Specified Amount will be reduced by the greater of:
a. zero; or
b. an amount equal to the amount of the Partial Surrender minus the greater of i) zero and ii)
the result of [(1) minus (2)] divided by (3) where:
(1)is an amount equal to the Accumulation Value on the Valuation Day immediately prior to
the Partial Surrender multiplied by the applicable percentage shown in the Corridor
Percentages Table in the Policy Specifications;
(2)is the Specified Amount immediately prior to the Partial Surrender; and
(3)is the applicable percentage shown in the Corridor Percentages Table in the Policy
Specifications.
|
2
|
Will reduce the Accumulation Value, but not the Specified Amount.
|
3
|
Will reduce the accumulated Premiums, and the Specified Amount to the extent that the amount
of the Partial Surrender exceeds the accumulated Premiums.
|
If, on the Policy Date, the Insured is:
|
The No-Lapse period is:
|
•Ages 0-50,
|
20 years
|
•Age 51,
|
19 years
|
•Age 52,
|
18 years
|
•Age 53,
|
17 years
|
•Age 54,
|
16 years
|
•Age 55,
|
15 years
|
•Age 56,
|
14 years
|
•Age 57,
|
13 years
|
•Age 58,
|
12 years
|
•Age 59,
|
11 years
|
•Age 60 and above
|
10 years
|
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.
|
AB VPS Discovery Value
Portfolio - Class A
advised
by AllianceBernstein L.P.
|
0.81%
|
17.18%
|
10.78%
|
7.55%
|
Long-term growth of capital.
|
AB VPS Sustainable Global
Thematic Portfolio - Class
A
advised
by AllianceBernstein L.P.
|
0.92%2
|
16.01%
|
13.56%
|
9.60%
|
Long-term growth of capital.
|
American Funds Global
Growth Fund - Class 2
|
0.66%2
|
22.60%
|
13.65%
|
9.58%
|
Long-term capital growth.
|
American Funds Global
Small Capitalization Fund -
Class 2
|
0.91%2
|
16.17%
|
8.31%
|
5.78%
|
Growth of capital.
|
American Funds Growth
Fund - Class 2
|
0.59%
|
38.49%
|
18.68%
|
14.36%
|
Long-term growth of capital and
income.
|
American Funds Growth-
Income Fund - Class 2
|
0.53%
|
26.14%
|
13.36%
|
10.91%
|
Long-term growth of capital.
|
American Funds
International Fund - Class
2
|
0.78%
|
15.84%
|
4.83%
|
3.41%
|
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%
|
Capital Appreciation. A fund of
funds.
|
DWS Alternative Asset
Allocation VIP Portfolio -
Class A
advised by DWS
Investment Management
Americas, Inc.
|
0.83%
|
6.19%
|
6.09%
|
2.96%
|
Long-term capital appreciation.
|
Fidelity® VIP Contrafund®
Portfolio - Service Class
|
0.66%
|
33.34%
|
16.54%
|
11.50%
|
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 achieve capital appreciation.
|
Fidelity® VIP Growth
Portfolio - Service Class
|
0.68%
|
36.09%
|
19.52%
|
14.68%
|
Long-term growth of capital.
|
Fidelity® VIP Mid Cap
Portfolio - Service Class
|
0.67%
|
15.00%
|
12.34%
|
8.02%
|
To maximize income while
maintaining prospects for capital
appreciation.
|
Franklin Income VIP Fund -
Class 1
|
0.46%2
|
8.87%
|
7.25%
|
5.28%
|
Capital appreciation; income is a
secondary consideration.
|
Franklin Mutual Shares VIP
Fund - Class 1
|
0.68%
|
13.73%
|
8.10%
|
5.70%
|
Long-term growth of capital.
|
Invesco V.I. EQV
International Equity Fund -
Series I Shares
|
0.90%
|
18.15%
|
8.42%
|
4.33%
|
Long-term capital growth.
|
LVIP AllianceBernstein
Large Cap Growth Fund -
Standard Class
(formerly LVIP T. Rowe
Price Growth Stock Fund)
advised by Lincoln
Financial Investments
Corporation
|
0.63%2
|
46.32%
|
13.32%
|
11.67%
|
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.
|
LVIP American Century
Balanced Fund - Standard
Class II
(formerly American
Century VP Balanced Fund)
advised by Lincoln
Financial Investments
Corporation
|
0.77%2
|
16.41%
|
8.50%
|
6.55%
|
Capital Appreciation.
|
LVIP Baron Growth
Opportunities Fund -
Service Class
advised by Lincoln
Financial Investments
Corporation
|
1.15%2
|
17.81%
|
13.66%
|
9.35%
|
Reasonable income.
|
LVIP BlackRock Dividend
Value Managed Volatility
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
This fund is available only
to existing Owners as of
May 9, 2016. Consult your
registered representative.
|
0.66%2
|
9.39%
|
9.55%
|
6.43%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
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
|
A balance between current income
and growth of capital, with a greater
emphasis on growth of capital. A
fund of funds.
|
LVIP BlackRock Global
Growth ETF Allocation
Managed Risk Fund -
Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.42%2
|
11.68%
|
4.81%
|
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%
|
A balance between current income
and growth of capital, with a greater
emphasis on growth of capital. A
fund of funds.
|
LVIP BlackRock U.S.
Growth ETF Allocation
Managed Risk Fund -
Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.39%2
|
12.35%
|
5.73%
|
N/A
|
Long-term growth of capital in a
manner consistent with the
preservation of capital.
|
LVIP Blended Large Cap
Growth Managed Volatility
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
This fund is available only
to existing Owners as of
May 9, 2016. Consult your
registered representative.
|
0.67%2
|
34.15%
|
13.82%
|
9.28%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
Capital Appreciation.
|
LVIP Blended Mid Cap
Managed Volatility Fund -
Standard Class
advised by Lincoln
Financial Investments
Corporation
This fund is available only
to existing Owners as of
May 9, 2016. Consult your
registered representative.
|
0.73%2
|
17.75%
|
10.22%
|
6.41%
|
Capital Appreciation.
|
LVIP ClearBridge Franklin
Select Large Cap Managed
Volatility Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.66%2
|
22.54%
|
11.10%
|
N/A
|
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. A
fund of funds.
|
LVIP Dimensional
International Equity
Managed Volatility Fund -
Standard Class
advised by Lincoln
Financial Investments
Corporation
This fund is available only
to existing Owners as of
May 9, 2016. Consult your
registered representative.
|
0.76%
|
16.69%
|
5.51%
|
2.29%
|
Long-term capital appreciation.
|
LVIP Dimensional U.S.
Core Equity 1 Fund -
Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.40%2
|
22.78%
|
14.99%
|
11.07%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
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
|
Long-term capital appreciation. A
fund of funds.
|
LVIP Dimensional U.S.
Equity Managed Volatility
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
This fund is available only
to existing Owners as of
May 9, 2016. Consult your
registered representative.
|
0.61%2
|
21.95%
|
12.87%
|
8.02%
|
Long-term capital growth.
|
LVIP Franklin Templeton
Global Equity Managed
Volatility Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
This fund is available only
to existing Owners as of
May 9, 2016. Consult your
registered representative.
|
0.73%2
|
17.24%
|
8.98%
|
4.58%
|
To maximize long-term capital
appreciation.
|
LVIP Franklin Templeton
Multi-Factor Emerging
Markets Equity Fund -
Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.50%2
|
10.04%
|
3.12%
|
1.60%
|
To maximize long-term capital
appreciation.
|
LVIP Franklin Templeton
Multi-Factor International
Equity Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.41%2
|
18.92%
|
6.73%
|
4.40%
|
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 Franklin Templeton
Multi-Factor Large Cap
Equity Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.36%2
|
17.39%
|
12.81%
|
10.06%
|
To maximize long-term capital
appreciation.
|
LVIP Franklin Templeton
Multi-Factor SMID Cap
Equity Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.39%2
|
15.54%
|
11.42%
|
7.16%
|
A high level of current income with
some consideration given to growth
of capital. A fund of funds.
|
LVIP Global Conservative
Allocation Managed Risk
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.77%2
|
9.72%
|
4.23%
|
3.52%
|
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 - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.76%2
|
13.33%
|
4.97%
|
3.72%
|
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 - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.75%2
|
11.84%
|
4.56%
|
3.56%
|
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%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
Capital Appreciation.
|
LVIP Invesco Select Equity
Income Managed Volatility
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
This fund is available only
to existing Owners as of
May 9, 2016. Consult your
registered representative.
|
0.58%2
|
12.18%
|
10.09%
|
N/A
|
A high level of current income;
capital appreciation is the
secondary objective.
|
LVIP JPMorgan High Yield
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.68%2
|
11.76%
|
4.95%
|
3.98%
|
Long-term capital appreciation.
|
LVIP JPMorgan Select Mid
Cap Value Managed
Volatility Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
This fund is available only
to existing Owners as of
May 9, 2016. Consult your
registered representative.
|
0.78%2
|
12.08%
|
9.25%
|
5.62%
|
Maximum current income (yield)
consistent with a prudent
investment strategy.
|
LVIP Macquarie Bond Fund
- Standard Class3
(formerly LVIP Delaware
Bond Fund)
advised by Lincoln
Financial Investments
Corporation
|
0.37%
|
5.93%
|
1.50%
|
1.99%
|
Total return.
|
LVIP Macquarie Diversified
Floating Rate Fund -
Standard Class3
(formerly LVIP Delaware
Diversified Floating Rate
Fund)
advised by Lincoln
Financial Investments
Corporation
|
0.63%2
|
5.57%
|
2.38%
|
1.68%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
Maximum long-term total return
consistent with reasonable risk.
|
LVIP Macquarie Diversified
Income Fund - Standard
Class3
(formerly LVIP Delaware
Diversified Income Fund)
advised by Lincoln
Financial Investments
Corporation
|
0.54%2
|
6.24%
|
2.07%
|
2.09%
|
Maximum total return, consistent
with reasonable risk.
|
LVIP Macquarie Limited-
Term Diversified Income
Fund - Standard Class3
(formerly LVIP Delaware
Limited-Term Diversified
Income Fund)
advised by Lincoln
Financial Investments
Corporation
|
0.53%2
|
5.00%
|
1.88%
|
1.63%
|
To maximize long-term capital
appreciation.
|
LVIP Macquarie Mid Cap
Value Fund - Standard
Class3
(formerly LVIP Delaware
Mid Cap Value Fund)
advised by Lincoln
Financial Investments
Corporation
|
0.43%
|
11.24%
|
11.88%
|
8.62%
|
Long-term capital appreciation.
|
LVIP Macquarie SMID Cap
Core Fund - Standard
Class3
(formerly LVIP Delaware
SMID Cap Core Fund)
advised by Lincoln
Financial Investments
Corporation
|
0.80%2
|
16.45%
|
12.25%
|
8.36%
|
To maximize long-term capital
appreciation.
|
LVIP Macquarie Social
Awareness Fund -
Standard Class3
(formerly LVIP Delaware
Social Awareness Fund)
advised by Lincoln
Financial Investments
Corporation
|
0.45%
|
30.17%
|
15.86%
|
11.32%
|
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 Macquarie U.S.
Growth Fund - Standard
Class3
(formerly LVIP Delaware
U.S. Growth Fund)
advised by Lincoln
Financial Investments
Corporation
|
0.72%
|
48.35%
|
18.38%
|
12.54%
|
Maximum long-term total return,
with capital appreciation as a
secondary objective.
|
LVIP Macquarie U.S. REIT
Fund - Standard Class3
(formerly LVIP Delaware
U.S. REIT Fund)
advised by Lincoln
Financial Investments
Corporation
|
0.83%2
|
12.58%
|
6.45%
|
6.23%
|
Long-term capital appreciation.
|
LVIP Macquarie Value Fund
- Standard Class3
(formerly LVIP Delaware
Value Fund)
advised by Lincoln
Financial Investments
Corporation
|
0.68%
|
3.49%
|
8.10%
|
7.84%
|
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%
|
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. A fund
of funds.
|
LVIP Multi-Manager Global
Equity Managed Volatility
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
This fund is available only
to existing Owners as of
May 9, 2016. Consult your
registered representative.
|
0.79%2
|
26.01%
|
10.64%
|
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%
|
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%
|
Long-term growth of capital. A fund
of funds.
|
LVIP SSGA Global Tactical
Allocation Managed
Volatility Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
This fund is available only
to existing Owners as of
May 9, 2016. Consult your
registered representative.
|
0.59%2
|
13.51%
|
6.28%
|
3.91%
|
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%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
Capital Appreciation. A fund of
funds.
|
LVIP SSGA International
Managed Volatility Fund -
Standard Class
advised by Lincoln
Financial Investments
Corporation
This fund is only available
to existing Owners as of
May 9, 2016. Consult your
registered representative.
|
0.63%2
|
17.44%
|
4.94%
|
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%
|
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%
|
A high level of current income, with
some consideration given to growth
of capital. A fund of funds.
|
LVIP Structured
Conservative Allocation
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.60%
|
10.27%
|
5.06%
|
3.97%
|
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 Structured Moderate
Allocation Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.57%
|
13.09%
|
7.12%
|
5.22%
|
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 Structured
Moderately Aggressive
Allocation Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.59%
|
14.27%
|
7.69%
|
5.54%
|
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%
|
High level of current income and
growth of capital, with an emphasis
on growth of capital. A fund of
funds.
|
LVIP U.S. Growth
Allocation Managed Risk
Fund - Standard Class
advised by Lincoln
Financial Investments
Corporation
|
0.79%2
|
15.02%
|
6.15%
|
N/A
|
Total return consistent with the
preservation of capital. A fund of
funds.
|
LVIP Vanguard Bond
Allocation Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.37%
|
6.00%
|
0.59%
|
1.27%
|
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%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
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.
|
LVIP Wellington SMID Cap
Value Fund - Standard
Class
advised by Lincoln
Financial Investments
Corporation
|
0.79%2
|
17.24%
|
12.45%
|
7.71%
|
Long-term capital appreciation.
|
Macquarie VIP Emerging
Markets Series - Standard
Class3
(formerly Delaware VIP®
Emerging Markets Series)
advised by Delaware
Management Company
|
1.18%2
|
13.79%
|
4.20%
|
2.67%
|
Capital Appreciation.
|
Macquarie VIP Small Cap
Value Series - Standard
Class3
(formerly Delaware VIP®
Small Cap Value Series)
advised by Delaware
Management Company
|
0.78%
|
9.45%
|
10.21%
|
7.06%
|
Capital Appreciation.
|
MFS® VIT Growth Series -
Initial Class
advised by Massachusetts
Financial Services
Company
|
0.73%2
|
35.86%
|
15.89%
|
12.97%
|
Total return.
|
MFS® VIT Total Return
Series - Initial Class
advised by Massachusetts
Financial Services
Company
|
0.61%2
|
10.44%
|
8.54%
|
6.53%
|
Total return.
|
MFS® VIT Utilities Series -
Initial Class
advised by Massachusetts
Financial Services
Company
|
0.79%2
|
-2.11%
|
8.31%
|
6.39%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
1 year
|
5 year
|
10 year
|
|||
Maximum real return, consistent
with prudent investment
management.
|
PIMCO VIT
CommodityRealReturn®
Strategy Portfolio -
Administrative Class
advised by Pacific
Investment Management
Company, LLC
|
1.48%2
|
-7.85%
|
8.55%
|
-0.80%
|
High current income consistent
with preservation of capital; capital
appreciation is a secondary
objective.
|
Templeton Global Bond VIP
Fund - Class 1
|
0.50%2
|
3.19%
|
-1.89%
|
-0.41%
|
Income and capital appreciation. A
fund of funds.
|
TOPS® Balanced ETF
Portfolio - Class 2 Shares
advised by Valmark
Advisers, Inc.
|
0.55%
|
11.39%
|
6.39%
|
4.51%
|
Capital Appreciation. A fund of
funds.
|
TOPS® Moderate Growth
ETF Portfolio - Class 2
Shares
advised by Valmark
Advisers, Inc.
|
0.54%
|
13.47%
|
7.96%
|
5.58%
|
Contents
|
Page
|
GENERAL INFORMATION
|
2
|
Lincoln Life
|
2
|
Capital Markets
|
2
|
Registration Statement
|
3
|
Changes of Investment Policy
|
3
|
Principal Underwriter
|
3
|
Disaster Plan
|
3
|
Advertising & Ratings
|
3
|
SERVICES
|
5
|
Independent Registered Public Accounting
Firm
|
5
|
Accounting Services
|
5
|
Checkbook Service for Disbursements
|
5
|
POLICY INFORMATION
|
5
|
Corporate and Group Purchasers and Case
Exceptions
|
5
|
Contents
|
Page
|
Assignment
|
6
|
Transfer of Ownership
|
6
|
Beneficiary
|
6
|
Right to Convert Contract
|
6
|
Exchange of Policy
|
7
|
Settlement Options
|
7
|
Deferment of Payments
|
7
|
Incontestability
|
7
|
Misstatement of Age or Gender
|
7
|
Suicide
|
7
|
PERFORMANCE DATA
|
7
|
FINANCIAL STATEMENTS
|
8
|
Separate Account
|
M-1
|
Company
|
S-1
|
Where:
|
P = a hypothetical initial purchase payment of $1,000
|
T = average annual total return for the period in question
|
|
n = number of years
|
|
ERV = ending redeemable value (as of the end of the period in question) of a hypothetical $1,000 purchase
payment made at the beginning of the 1-year, 3-year, 5-year, or 10-year period in question (or fractional period
thereof)
|