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APP A-1 | |||||
| Contract Value | The total value of your investments in the Sub-Accounts (and the Fixed Accumulation Feature, if applicable). | ||||
| Fixed Accumulation Feature or FAF | A fixed account option that guarantees principal and a rate of interest. Effective October 4, 2013, we no longer accept new allocations or premium payments to the Fixed Accumulation Feature except for contracts issued in Massachusetts. | ||||
| Sub-Account | A fund option under the contract. There is a Sub-Account that corresponds to each fund that is available under the contract. | ||||
| FEES AND EXPENSES | Location in Prospectus | |||||||||||||||||||
| Charges for Early Withdrawals | Your Contract may be subject to surrender charges. Surrender charges may apply to both partial and full Surrenders. If you withdraw money from your contract within 10 years following your last premium payment, you may be assessed a surrender charge of up to 8% (as a percentage if premium payments withdrawn), declining to 0% over that time period. For example, if you were to withdraw $100,000 during a surrender charge period, you could be assessed a charge of up to $8,000. If you receive services for your Contract from a third-party financial intermediary who charges an advisory fee for their services, withdrawals to pay advisory fees will also reduce death benefits and other guaranteed benefits under the Contract and may be subject to federal and state income taxes and a 10% federal penalty tax. | Fee Table Highlights The Contract -Charges and Fees | ||||||||||||||||||
| Transaction Charges | Other than surrender charges (if any), there are no charges for other contract transactions (e.g., transferring money between investment options). | Fee Table | ||||||||||||||||||
| Ongoing Fees and Expenses (annual charges) | The table below describes the current fees and expenses of the contract that you may pay each year, depending on the options you choose. 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. Fees and expenses do not reflect any advisory fees paid to financial intermediaries from Contract Value or other assets of the Contract Owner, and that if such charges were reflected, the fees and expenses would be higher. | Fee Table The Contract -Charges and Fees The Contract - Guaranteed Payout Plan | ||||||||||||||||||
| Annual Fee | Minimum | Maximum | ||||||||||||||||||
| Base Contract | 1.52%¹ ³ | 1.52%¹ ⁴ | ||||||||||||||||||
| Investment Options (fund fees and expenses) | 0.13%² | 0.90%² | ||||||||||||||||||
| Optional benefit available for an additional charge (for a single optional benefit, if elected) | 0.35%3 | 0.00%4 | ||||||||||||||||||
1 As a percentage of average daily Sub-Account Values 2 As a percentage of fund net assets. 3 During Accumulation Period 4 During Annuity Payout Period. | ||||||||||||||||||||
| Because your contract is customizable, the choices you make effect how much you will pay. To help you understand the cost of owning your contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. This estimate assumes that you do not take withdrawals from the contract, which could add surrender charges that substantially increase costs. | ||||||||||||||||||||
| Lowest Annual Cost: $1,946 | Highest Annual Cost: $3,114 | |||||||||||||||||||
| Assumes: | Assumes: | |||||||||||||||||||
•Investment of $100,000 | •Investment of $100,000 | |||||||||||||||||||
•5% annual appreciation | •5% annual appreciation | |||||||||||||||||||
•Least expensive fund fees and expenses | •Most expensive optional benefit and fund fees and expenses | |||||||||||||||||||
•No surrender charges | •No surrender charges | |||||||||||||||||||
•No additional premium payments, transfers or withdrawals | •No additional premium payments, transfers or withdrawals | |||||||||||||||||||
•No optional benefit | ||||||||||||||||||||
| RISKS | Location in Prospectus | |||||||||||||||||||
| Risk of Loss | You can lose money by investing in this contract, including loss of principal. | General Information - The Funds The Contract - Charges and Fees and Surrenders Federal Tax Considerations | ||||||||||||||||||
| Not a Short-Term Investment | •This contract is not designed for short-term investing and is not appropriate for an investor who needs ready access to cash. •Surrender charges may apply to withdrawals. If you take a withdrawal, a surrender charge may reduce the value of your contract or the amount of money that you actually receive. •The benefits of tax deferral, long-term income, and living benefit guarantees mean the contract is generally more beneficial to investors with a long-time horizon. •A 10% penalty tax may be applied to Surrenders before age 59½. | |||||||||||||||||||
| Risks Associated with Investment Options | •An investment in this contract is subject to the risk of poor investment performance. Performance can vary depending on the performance of the investment options that you choose under the contract. •Each investment option (including the FAF, if available) has its own unique risks. •You should review the investment options before making an investment decision. | |||||||||||||||||||
| Insurance Company Risks | An investment in the contract is subject to the risks related to us. Any obligations (including under any Guarantee Period), 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 Union Security, including our financial strength ratings, is available upon request by visiting www.cunamutual.com or by calling 1-800-356-2644. | |||||||||||||||||||
| RESTRICTIONS | Location in Prospectus | |||||||||||||||||||
| Investment Options | •Certain investment options may not be available under your contract. •You are allowed to make 1 transfer between the fund options per day. You are allowed to make 20 transfers between the fund options per year before we require you to submit additional transfer requests by mail. Your transfer between the fund options are subject to policies designed to deter excessively frequent transfers and market timing. These transfer restrictions do not apply to transfers under the contract's automatic transfer programs. •There are restrictions on the maximum amount that may be transferred annually from the FAF to the fund options. If the FAF is available for investment, you must wait 6 months after your most recent transfer from the FAF before making a subsequent transfer into the FAF. These transfer restrictions may apply to the contract's automatic income programs. •We reserve the right to remove or substitute funds as investment options. | General Contract Information - The Funds Fixed Accumulation Feature The Contract - Purchases and Contract Value | ||||||||||||||||||
| TAXES | Location in Prospectus | |||||||||||||||||||
| Tax Implications | •Consult with a tax professional to determine the tax implications of an investment in and payments received under the contract. •If you purchased 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 rates when you withdraw them and you may have to pay a penalty if you take a withdrawal before age 59-1/2. | Federal Tax Considerations | ||||||||||||||||||
| CONFLICTS OF INTEREST | Location in Prospectus | |||||||||||||||||||
| Investment Professional Compensation | Your investment professional may receive compensation for selling this contract to you, in the form of commissions, additional payments, and non-cash compensation. We may share the revenue we earn on this contract with your investment professional's firm. This conflict of interest may influence your investment professional to recommend this contract over another investment for which the investment professional is not compensated or compensated less. | Other Information - How Contracts Are Sold | ||||||||||||||||||
| Type | Fund and Adviser/Subadviser | Current Expenses | Average Annual Total Returns (as of 12/31/23) | ||||||||||||||
| 1 Year | 5 Year | 10 Year | |||||||||||||||
| U.S. Equity | BlackRock S&P 500 Index V.I. Fund - Class I Adviser: BlackRock Advisors, LLC | 0.13% | 26.22% | 15.55% | 11.80% | ||||||||||||
| Allocation | Hartford Balanced HLS Fund - Class IA Adviser: Hartford Funds Management Company, LLC Subadviser: Wellington Management Company LLP | 0.66% | 14.78% | 10.26% | 7.61% | ||||||||||||
| U.S. Equity | Hartford Capital Appreciation HLS Fund - Class IA Adviser: Hartford Funds Management Company, LLC Subadviser: Wellington Management Company LLP | 0.67% | 20.00% | 13.30% | 9.27% | ||||||||||||
| U.S. Equity | Hartford Disciplined Equity HLS Fund - Class IA Adviser: Hartford Funds Management Company, LLC Subadviser: Wellington Management Company LLP | 0.59% | 21.24% | 14.32% | 11.84% | ||||||||||||
| U.S. Equity | Hartford Dividend and Growth HLS Fund - Class IA Adviser: Hartford Funds Management Company, LLC Subadviser: Wellington Management Company LLP | 0.65% | 14.18% | 13.72% | 10.58% | ||||||||||||
| International Equity | Hartford International Opportunities HLS Fund - Class IA Adviser: Hartford Funds Management Company, LLC Subadviser: Wellington Management Company LLP | 0.76% | 11.72% | 8.47% | 4.24% | ||||||||||||
| U.S. Equity | Hartford MidCap HLS Fund - Class IA Adviser: Hartford Funds Management Company, LLC Subadviser: Wellington Management Company LLP | 0.73% | 14.87% | 9.70% | 8.77% | ||||||||||||
| U.S. Equity | Hartford Small Cap Growth HLS Fund - Class IA Adviser: Hartford Funds Management Company, LLC Subadviser: Wellington Management Company LLP | 0.65% | 18.42% | 9.78% | 7.17% | ||||||||||||
| U.S. Equity | Hartford Stock HLS Fund - Class IA Adviser: Hartford Funds Management Company, LLC Subadviser: Wellington Management Company LLP | 0.51% | 7.72% | 13.44% | 10.69% | ||||||||||||
| Fixed Income | Hartford Total Return Bond HLS Fund - Class IA Adviser: Hartford Funds Management Company, LLC Subadviser: Wellington Management Company LLP | 0.50% | 6.97% | 1.86% | 2.32% | ||||||||||||
| Fixed Income | Hartford Ultrashort Bond HLS Fund - Class IA Adviser: Hartford Funds Management Company, LLC Subadviser: Wellington Management Company LLP | 0.44% | 5.18% | 1.80% | 1.27% | ||||||||||||
| Money Market | Invesco V.I. Government Money Market Fund - Series I** Adviser: Invesco Advisers, Inc. | 0.36% | 4.86% | 1.69% | 1.06% | ||||||||||||
| Fixed Income | Invesco V.I. Government Securities Fund - Series I Adviser: Invesco Advisers, Inc. | 0.69% | 4.62% | 0.67% | 1.15% | ||||||||||||
| Fixed Income | Invesco V.I. High Yield Fund - Series I Adviser: Invesco Advisers, Inc. | 0.90% | 10.18% | 4.05% | 3.22% | ||||||||||||
| * | Annual expenses reflect a contractual fee reduction under an expense reimbursement or fee waiver arrangement. | ||||
| ** | In a low interest rate environment, yields for money market funds, after deduction of Contract charges, may be negative even though the fund’s yield, before deducting for such charges, is positive. If you allocate a portion of your Contact value to a money market Sub-Account or participate in an Asset Allocation Program, if available, where Contract value is allocated to a money market Sub-Account, that portion of the value of your Contract value may decrease in value. | ||||