Single Life Option
|
Joint Life Option
|
4.00%
|
4.00%
|
3.00%
|
Single Life Option
|
Joint Life Option
|
4.00%
|
4.00%
|
Single Life Option
|
Joint Life Option
|
4.00%
|
4.00%
|
Single Life Option
|
Joint Life Option
|
25.00%
|
25.00%
|
25.00%
|
Item
|
Page
|
3
|
|
5
|
|
7
|
|
9
|
|
10
|
|
12
|
|
14
|
|
16
|
|
16
|
|
18
|
|
20
|
|
21
|
|
21
|
|
24
|
|
28
|
|
32
|
|
35
|
|
36
|
|
42
|
|
42
|
|
42
|
|
42
|
|
42
|
|
43
|
|
A-1
|
|
B-1
|
|
FEES AND EXPENSES
|
Location in
Prospectus
|
||
Charges for Early
Withdrawals
|
There are no surrender charges associated with the Contract.
|
•N/A
|
||
Transaction
Charges
|
There are no sales charges associated with the Contract.
|
•N/A
|
||
Ongoing Fees and
Expenses (annual
charges)
|
Minimum and Maximum Annual Fee Table. The table below describes the fees and
expenses that you may pay each year, depending on the options you choose. Please
refer to your contract specifications page for information about the specific fees
you will
pay each year based on the options you have elected. These charges do not reflect
any
advisory fees paid to a financial intermediary from Contract Value or other assets
of the
Contractowner. If such charges were reflected, the ongoing fees and expense would
be
higher.
|
•Fee Tables
•Examples
•Charges and
Other
Deductions
|
||
Annual Fee
|
Minimum
|
Maximum
|
||
Base Contract – Guarantee of Principal
Death Benefit
|
0.75%1
|
0.75%1
|
||
Investment options (fund fees and
expenses)
|
0.30%1
|
0.51%1
|
||
Optional benefits available for an
additional charge (for a single optional
benefit, if elected)
|
0.40%1
|
1.50%2
|
||
1 As a percentage of average Account Value in the Subaccounts.
|
||||
2 As an annualized percentage of the greater of the Contract Value or the sum of all
Purchase Payments.
|
||||
Lowest and Highest Annual Cost Table. Because your Contract is customizable, the
choices you make affect how much you will pay. To help you understand the cost of
owning your Contract, the following table shows the lowest and highest cost you could
pay each year, based on current charges. This estimate assumes that you do not take
withdrawals from the Contract.
|
||||
Lowest Annual Cost: $1,283
|
Highest Annual Cost: $3,096
|
|||
Assumes:
|
Assumes:
|
|||
•Investment of $100,000
•5% annual appreciation
•Least expensive fund fees and
expenses
•No optional benefits
•No additional Purchase Payments,
transfers, or withdrawals
•No advisory fees
|
•Investment of $100,000
•5% annual appreciation
•Most expensive combination of
optional benefits and fund fees and
expenses
•No additional Purchase Payments,
transfers, or withdrawals
•No advisory fees
|
|||
|
RISKS
|
Location in
Prospectus
|
||
Risk of Loss
|
•You can lose money by investing in this Contract, including loss of principal.
|
•Principal Risks
•Investments of
the Variable
Annuity
Account
|
|
RISKS
|
Location in
Prospectus
|
||
Not a Short-Term
Investment
|
•This Contract is not designed for short-term investing and is not appropriate for
the
investor who needs ready access to cash.
•The benefits of tax deferral, long-term income, and living benefit protections mean
the Contract is more beneficial to investors with a long-term investment horizon.
•Withdrawals are subject to ordinary income tax and may be subject to tax penalties.
|
•Principal Risks
•Surrender and
Withdrawals
•Fee Tables
|
||
Risks Associated
with Investment
Options
|
•An investment in this Contract is subject to the risk of poor investment performance
of the investment options you choose. Performance can vary depending on the
performance of the investment options available under the Contract.
•Each investment option (including the fixed account option) has its own unique risks.
•You should review the investment options before making an investment decision.
|
•Principal Risks
•Investments of
the Variable
Annuity
Account
|
||
Insurance
Company Risks
|
•An investment in the Contract is subject to the risks related to Lincoln Life. Any
obligations (including under the fixed account option), guarantees, or benefits of
the
Contract are subject to our claims-paying ability. If we experience financial distress,
we may not be able to meet our obligations to you. More information about Lincoln
Life, including our financial strength ratings, is available upon request by calling
1-
800-454-6265 or visiting www.LincolnFinancial.com.
|
•Principal Risks
|
||
|
RESTRICTIONS
|
Location in
Prospectus
|
||
Investments
|
•We reserve the right to remove or substitute any funds as investment options that
are available under the Contract.
•You are generally restricted to no more than 12 transfers between investment options
per Contract Year.
|
•Principal Risks
•Investments of
the Variable
Annuity
Account
|
||
Optional Benefits
|
•Optional benefits may limit or restrict the investment options that you may select
under the Contract. We may change these restrictions in the future.
•Optional benefit availability may vary by state of issue or selling broker-dealer.
•Excess Withdrawals may reduce the value of an optional benefit by an amount
greater than the value withdrawn or result in termination of the benefit.
•We may modify or stop offering an optional benefit that is currently available at
any
time.
•If you elect certain optional benefits, you may be limited in the amount of Purchase
Payments that you can make (and when).
•If you elect to pay third-party advisory fees out of your Contract Value, this deduction
may reduce the Death Benefit(s) and other guaranteed benefits, and may be subject
to federal and state income taxes and a 10% federal penalty tax.
|
•The Contracts
•Death Benefits
•Advisory Fee
Withdrawals
•Federal Tax
Matters –
Payment of
Investment
Advisory Fees
|
||
|
TAXES
|
Location in
Prospectus
|
||
Tax Implications
|
•Consult with a tax professional to determine the tax implications of an investment
in
and payments received under this Contract.
•If you purchase the Contract through a tax-qualified plan or IRA, you do not get any
additional tax benefit under the Contract.
•Earnings on your Contract are taxed at ordinary income tax rates when you withdraw
them, and you may have to pay a penalty if you take a withdrawal before age 59½.
|
•Federal Tax
Matters
|
||
|
CONFLICTS OF INTEREST
|
Location in
Prospectus
|
||
Exchanges
|
•You should only exchange your contract if you determine, after comparing the
features, fees, and risks of both contracts, that it is better for you to purchase
the
new Contract rather than continue to own your existing contract.
|
•The Contracts -
Replacement
of Existing
Insurance
|
There are no sales charges, deferred sales charges, or surrender charges associated
with the Contract.
|
|
Administrative Expense (Annual Account Fee):1
|
$50
|
|
|
Base Contract Expenses (as a percentage of average Account Value in the Subaccounts)2
|
|
Guarantee of Principal Death Benefit3
|
0.75%
|
Optional Benefit Expenses
|
Single Life
|
Joint Life
|
Core Income Benefit:4
|
|
|
Guaranteed Maximum Charge
|
1.50%
|
1.50%
|
Current Initial Annual Charge
|
0.85%
|
0.85%
|
|
|
|
i4LIFE® Advantage:5
|
|
|
Current Charge
|
0.40%
|
0.40%
|
Annual Fund Expenses
|
Minimum
|
Maximum
|
Expenses that are deducted from the fund assets, including
management fees, distribution and/or service (12b-1) fees, and other
expenses before reimbursements.
|
0.30
%
|
0.51
%
|
Expenses that are deducted from the fund assets, including
management fees, distribution and/or service (12b-1) fees, and other
expenses after any waivers or expense reimbursements.1
|
0.30
%
|
0.51
%
|
1 year
|
3 years
|
5 years
|
10 years
|
$2,802
|
$8,593
|
$14,640
|
$30,957
|
1 year
|
3 years
|
5 years
|
10 years
|
$2,802
|
$8,593
|
$14,640
|
$30,957
|
Guarantee of Principal Death Benefit
|
0.75
%
|
Standard Benefits
|
|||
Name of Benefit
|
Purpose
|
Maximum Fee
|
Brief Description of Restrictions /
Limitations
|
Guarantee of Principal
Death Benefit
|
Provides a Death Benefit equal to the
greatest of (1) Contract Value; (2) all
Purchase Payments, adjusted for
withdrawals.
|
•0.75%
|
•Withdrawals could significantly reduce
the benefit.
|
Dollar-Cost Averaging
|
Allows you to automatically transfer
amounts between certain investment
options on a monthly basis.
|
None
|
•Minimum amount to be dollar cost
averaged is $1,500 over any time period
between 3 and 60 months.
•Cannot be used simultaneously with
portfolio rebalancing.
|
Portfolio Rebalancing
|
Allows you to automatically reallocate your
Contract Value among investment options
on a periodic basis based on your standing
allocation instructions.
|
None
|
•Cannot be used simultaneously with
dollar cost averaging.
|
Automatic Withdrawal
Service
|
Allows you to take periodic withdrawals
from your Contract automatically.
|
None
|
•Automatically terminates once i4LIFE®
Advantage begins.
|
Optional Benefits – Available for Election
|
|||
Name of Benefit
|
Purpose
|
Maximum Fee
|
Brief Description of Restrictions /
Limitations
|
i4LIFE® Advantage
|
Provides:
•Variable periodic Regular Income
Payments for life.
•The ability to make additional
withdrawals and surrender the Contract
during the Access Period.
|
•i4LIFE® Advantage:
0.40% in addition to
the base contract
expense for the
Death Benefit you
have elected.
|
•Withdrawals could significantly reduce or
terminate the benefit.
•Restrictions apply to the length of the
Access Period.
•Additional Purchase Payments may be
subject to restrictions.
|
Optional Benefits – No Longer Available for Election1
|
|||
Name of Benefit
|
Purpose
|
Maximum Fee
|
Brief Description of Restrictions /
Limitations
|
Core Income Benefit
|
Provides:
•Guaranteed periodic withdrawals for life.
•Automatic COLA increases.
|
•1.50%
|
•Withdrawals could significantly reduce or
terminate the benefit.
|
upon death of:
|
and...
|
and...
|
Death Benefit proceeds pass to:
|
Contractowner
|
There is a surviving joint owner
|
The Annuitant is living or deceased
|
Joint owner
|
Contractowner
|
There is no surviving joint owner
|
The Annuitant is living or deceased
|
Designated Beneficiary
|
Contractowner
|
There is no surviving joint owner
and the Beneficiary predeceases the
Contractowner
|
The Annuitant is living or deceased
|
Contractowner's estate
|
Annuitant
|
The Contractowner is living
|
There is no contingent Annuitant
|
The youngest Contractowner
becomes the contingent Annuitant
and the Contract continues. The
Contractowner may waive* this
continuation and receive the Death
Benefit proceeds.
|
Annuitant
|
The Contractowner is living
|
The contingent Annuitant is living
|
Contingent Annuitant becomes the
Annuitant and the Contract
continues
|
Annuitant**
|
The Contractowner is a trust or
other non-natural person
|
No contingent Annuitant allowed
with non-natural Contractowner
|
Designated Beneficiary
|
7/1/18 Contract is issued with $100,000. The initial Core Income Payment is $4,000
($100,000 x 4%)
|
|
12/1/18 Additional Purchase Payment of $50,000 is made. Core Income Payment increases
to $6,000 (($50,000 x 4%) + $4,000)
|
|
4/1/18 Contract issued with $100,000, setting the Core Income Payment at $4,000
|
|
5/1/18 Additional Purchase Payment of $25,000; Core Income Payment is $5,000
|
|
7/15/18 Additional Purchase Payment of $50,000; Core Income Payment is $7,000
|
|
4/1/19 Core Income Payment increases by 2% COLA; ($7,000 - $2,000) x (1 + .02) + $2,000
= $7,100
|
|
4/1/18 Contract issued with $150,000 setting the Core Income Payment at $6,000
|
|
2/1/19 Contractowner makes a $1,000 withdrawal; the Contract Value is $148,000
|
|
Recalculated Core Income Payment is the greater of:
a) $6,000 or
b) $5,920 ($148,000 x 4%) (assuming an Account Value Percentage of 4%)
|
|
If the Contractowner was age 63, the Core Income Payment would be $4,500 ($6,000 x
75%) (assuming a reduction percentage of
25%)
|
|
4/1/19 The Core Income Payment increases by the COLA; $4,500 x (1 + .02) = $4,590
|
|
4/1/18 Contract opened when the Contractowner is age 55 with $100,000 Purchase Payment,
setting the Core Income Payment at
$4,000 (assuming a 4% Core Income Payment percentage)
|
|
9/1/18 Excess Withdrawal of $10,000 is made. Contract Value at the time of the withdrawal
is $120,000
|
|
The recalculated Core Income Payment is $4,000 x (1 – ($10,000 ÷ $120,000)) = $3,667
|
|
i4LIFE® Advantage Guarantee of Principal Death Benefit
|
$200,000
|
|
Regular Income Payment
|
$25,000
|
|
Account Value at the time of additional withdrawal
|
$150,000
|
|
Additional withdrawal
|
$15,000
|
($15,000/$150,000=10% withdrawal)
|
|
|
|
Death Benefit value after Regular Income Payment = $200,000 - $25,000 = $175,000
|
||
Reduction in Death Benefit value for withdrawal = $175,000 x 10% = $17,500
|
||
Death Benefit value after additional withdrawal = $175,000 - $17,500 = $157,500
|
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 return (including income and
capital gains) consistent with
preservation of capital over the long term.
|
American Funds Asset Allocation Fund -
Class 1
|
0.30%
|
14.55%
|
9.47%
|
7.51%
|
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%
|
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 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%
|
Single Life Option
|
Joint Life Option
|
4.00%
|
4.00%
|
3.00%
|
2.00%
|
Single Life Option
|
Joint Life Option
|
4.00%
|
4.00%
|
Single Life Option
|
Joint Life Option
|
4.00%
|
4.00%
|
Single Life Option
|
Joint Life Option
|
25.00%
|
25.00%
|
25.00%
|
Contents
|
Page
|
B-2
|
|
B-2
|
|
B-2
|
|
B-2
|
|
B-3
|
|
B-3
|
|
B-3
|
|
B-4
|
Contents
|
Page
|
B-4
|
|
B-4
|
|
B-4
|
|
B-4
|
|
B-5
|
|
B-5
|
|
B-5
|
|
B-6
|
Name
|
Positions and Offices with Depositor
|
Craig T. Beazer*
|
Executive Vice President, General Counsel and Director
|
Jayson R. Bronchetti*
|
Executive Vice President, Chief Investment Officer and Director
|
Adam M. Cohen*
|
Senior Vice President, Chief Accounting Officer and Treasurer
|
Ellen G. Cooper*
|
President and Director
|
Stephen B. Harris*
|
Senior Vice President and Chief Ethics and Compliance Officer
|
Christopher M. Neczypor*
|
Executive Vice President, Chief Financial Officer and Director
|
Nancy A. Smith*
|
Senior Vice President and Secretary
|
Joseph D. Spada**
|
Vice President and Chief Compliance Officer for Separate Accounts
|
Eric B. Wilmer***
|
Assistant Vice President and Director
|
Name
|
Positions and Offices with Underwriter
|
Adam M. Cohen*
|
Senior Vice President and Treasurer
|
Jason M. Gibson**
|
Vice President and Chief Compliance Officer
|
Claire H. Hanna*
|
Secretary
|
John C. Kennedy*
|
President, Chief Executive Officer and Director
|
Jared M. Nepa*
|
Senior Vice President and Director
|
Thomas P. O'Neill*
|
Senior Vice President, Chief Operating Officer and Head of Financial
Institutions Group
|
Timothy J. Seifert Sr*
|
Senior Vice President and Director
|
SIGNATURES
(a) | As required by the Securities Act of 1933 and the Investment Company Act of 1940, each Registrant certifies that it meets the requirements of Securities Act Rule 485(b) for effectiveness of these registration statements and has caused these Post-Effective Amendments to the registration statements to be signed on its behalf, in the City of Fort Wayne, and the State of Indiana on this 10th day of April, 2024 at 3:21 pm. |
Lincoln National Variable Annuity Account E
Lincoln National Variable Annuity Account H
Lincoln Life Variable Annuity Account N
(Registrants)
By: | /s/ Daniel P. Herr | |
Daniel P. Herr | ||
Senior Vice President, The Lincoln National Life Insurance Company |
Signed on its behalf, in the City of Hartford, and the State of Connecticut on this 10th day of April, 2024 at 2:32 pm.
The Lincoln National Life Insurance Company
(Depositor)
By: | /s/ Michelle L. Grindle | |
Michelle L. Grindle | ||
(Signature-Officer of Depositor) | ||
Vice President, The Lincoln National Life Insurance Company |
Lincoln National Variable Annuity Account E (File No. 811-04882; CIK: 0000804223)
033-26032 (Amendment No. 78)
Lincoln National Variable Annuity Account H (File No. 811-05721; CIK: 0000847552)
033-27783 (Amendment No. 77) | 333-63505 (Amendment No. 86) | 333-181615 (Amendment No. 43) | ||
333-18419 (Amendment No. 80) | 333-135219 (Amendment No. 59) | 333-212681 (Amendment No. 23) | ||
333-35780 (Amendment No. 60) | 333-170695 (Amendment No. 53) | 333-233762 (Amendment No. 10) | ||
333-35784 (Amendment No. 75) | 333-175888 (Amendment No. 29) | 333-233764 (Amendment No. 16) | ||
333-61592 (Amendment No. 77) |
Lincoln Life Variable Annuity Account N (File No. 811-08517; CIK: 0001048606)
333-36316 (Amendment No. 98) | 333-172328 (Amendment No. 47) | 333-214143 (Amendment No. 28) | ||
333-36304 (Amendment No. 86) | 333-174367 (Amendment No. 35) | 333-214144 (Amendment No. 17) | ||
333-40937 (Amendment No. 92) | 333-181612 (Amendment No. 41) | 333-214235 (Amendment No. 16) | ||
333-61554 (Amendment No. 92) | 333-186894 (Amendment No. 44) | 333-236907 (Amendment No. 12) | ||
333-135039 (Amendment No. 59) | 333-193272 (Amendment No. 31) | 333-239288 (Amendment No. 9) | ||
333-138190 (Amendment No. 70) | 333-193273 (Amendment No. 23) | 333-252473 (Amendment No. 17) | ||
333-149434 (Amendment No. 42) | 333-193274 (Amendment No. 20) | 333-252653 (Amendment No. 12) | ||
333-170529 (Amendment No. 44) | 333-212680 (Amendment No. 26) | 333-252654 (Amendment No. 12) | ||
333-170897 (Amendment No. 48) | 333-212682 (Amendment No. 19) |
(b) | As required by the Securities Act of 1933, these Amendments to the registration statements have been signed by the following persons in their capacities indicated on April 10, 2024 at 3:21 pm. |
Signature | Title | |
*/s/ Ellen G. Cooper | President and Director | |
Ellen G. Cooper | (Principal Executive Officer) | |
*/s/ Christopher M. Neczypor | Executive Vice President, Chief Financial Officer, and Director | |
Christopher M. Neczypor | ||
*/s/ Craig T. Beazer | Executive Vice President and Director | |
Craig T. Beazer | ||
*/s/ Jayson R. Bronchetti | Executive Vice President, Chief Investment Officer, and Director | |
Jayson R. Bronchetti | ||
*/s/ Adam M. Cohen | Senior Vice President and Chief Accounting Officer | |
Adam M. Cohen | (Principal Accounting Officer) | |
*/s/ Eric B. Wilmer | Assistant Vice President and Director | |
Eric B. Wilmer |
* By | /s/ Daniel P. Herr, Pursuant to a Power of Attorney | |
Daniel P. Herr |