Lincoln Investor Advantage® Advisory Individual Variable Annuity Contracts  
Updating Summary Prospectus for Current Contractowners

May 1, 2024
This updating summary prospectus summarizes certain changes to key features of the Lincoln Investor Advantage® Advisory variable annuity contract issued by Lincoln Life & Annuity Company of New York (Lincoln New York or Company).
You should read this updating summary prospectus carefully, particularly the section titled Important Information You Should Consider about the Lincoln Investor Advantage® Advisory contract.
The prospectus for the Lincoln Investor Advantage® Advisory variable annuity contract contains more information about the Contract’s features, benefits, and risks. You can find the prospectus and other information about the Contract online at www.lfg.com/VAprospectus. You can also obtain this information at no cost by calling 1-888-868-2583 or by sending an email request to CustServSupportTeam@lfg.com.
The Securities and Exchange Commission has not approved or disapproved the Contract or determined if this Summary Prospectus is accurate or complete. Any representation to the contrary is a criminal offense.
Additional information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission’s staff and is available at Investor.gov.
All prospectuses and other shareholder reports, will be made available on www.lfg.com/VAprospectus.
1
Updated Information About Your Contract
The information in this Updating Summary Prospectus is a summary of certain contract features that have changed since the Updating Summary Prospectus dated May 1, 2023. This may not reflect all of the changes that have occurred since you entered into your Contract.
Summary of Recent Contract Changes:
•
The following changes apply to all elections of i4LIFE® Advantage on and after November 20, 2023:
•
The minimum Access Period selected must be no less than 10 years;
•
The available Assumed Investment Return (AIR) rates are limited to 3% and 4%; and
•
The annuity factor used to calculate the Regular Income Payment no longer includes gender as a component.
•
Appendix B should be reviewed for all updates to the Investment Requirements that may be applicable to your Contract.
Fund Additions:
•
Fidelity® VIP Consumer Discretionary Portfolio (Service Class 2): Capital appreciation.
This fund was made available on or about August 21, 2023.
•
Fidelity® VIP Consumer Staples Portfolio (Service Class 2): Capital appreciation.
This fund was made available on or about August 21, 2023.
•
Fidelity® VIP Financials Portfolio (Service Class 2): Capital appreciation.
This fund was made available on or about August 21, 2023.
•
Fidelity® VIP Technology Portfolio (Service Class 2): Capital appreciation.
This fund was made available on or about August 21, 2023.
•
First Trust Capital Strength Hedged Equity Portfolio (Class I): To provide long-term capital appreciation.
This fund was made available on or about August 21, 2023.
•
Lincoln Hedged Nasdaq-100 Fund (Service Class): To seek long-term growth of capital.
This fund will be available on or about May 20, 2024. Please consult your financial professional.
•
Lincoln Hedged S&P 500 Conservative Fund (Service Class): To seek long-term growth of capital.
This fund will be available on or about May 20, 2024. Please consult your financial professional.
•
Lincoln Hedged S&P 500 Fund (Service Class): To seek long-term growth of capital.
This fund will be available on or about May 20, 2024. Please consult your financial professional.
•
Lincoln Opportunistic Hedged Equity Fund (Service Class): To seek long-term growth of capital.
This fund was made available on or about December 18, 2023.
•
LVIP American Century Capital Appreciation Fund (Service Class): Capital growth.
This fund will be available on or about May 20, 2024. Please consult your financial professional.
•
LVIP American Century Disciplined Core Value Fund (Service Class): Capital growth; income is a secondary consideration.
This fund will be available on or about May 20, 2024. Please consult your financial professional.
•
LVIP American Century Inflation Protection Fund (Service Class): Long-term total return using a strategy that seeks to protect against U.S. inflation.
This fund will be available on or about May 20, 2024. Please consult your financial professional.
•
LVIP American Century International Fund (Service Class): Capital growth.
This fund will be available on or about May 20, 2024. Please consult your financial professional.
•
LVIP American Century Mid Cap Value Fund (Service Class): Long-term growth of capital, income is secondary objective.
This fund will be available on or about May 20, 2024. Please consult your financial professional.
•
LVIP American Century Ultra Fund (Service Class): Long-term capital growth.
This fund will be available on or about May 20, 2024. Please consult your financial professional.
•
LVIP American Century Value Fund (Service Class): Long-term capital growth; income is a secondary consideration.
This fund will be available on or about May 20, 2024. Please consult your financial professional.
2
Fund Reorganizations:
•
The Board of Trustees of American Century Variable Portfolios, Inc. has approved an agreement and plan of reorganization of each Fund into and with a substantially similar series and class of Lincoln Variable Insurance Products (“LVIP”) Trust. The reorganization was effective on or about April 26, 2024.
  
The following fund will be reorganized into…
...the following acquiring Fund.*
American Century VP Balanced Fund
LVIP American Century Balanced Fund
American Century VP Large Company Value Fund
LVIP American Century Large Company Value Fund
 
 
*Please review Appendix A for additional Fund Information.
Fund Name Changes:
  
Former Fund Name
New Fund Name*
ClearBridge Variable Aggressive Growth Portfolio
ClearBridge Variable Growth Portfolio
Delaware VIP® Emerging Markets Series
Macquarie VIP Emerging Markets Series
Delaware VIP® Small Cap Value Series
Macquarie VIP Small Cap Value Series
LVIP Delaware Bond Fund
LVIP Macquarie Bond Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP Macquarie Diversified Floating Rate Fund
LVIP Delaware Diversified Income Fund
LVIP Macquarie Diversified Income Fund
LVIP Delaware High Yield Fund
LVIP Macquarie High Yield Fund
LVIP Delaware Limited-Term Diversified Income Fund
LVIP Macquarie Limited-Term Diversified Income Fund
LVIP Delaware Mid Cap Value Fund
LVIP Macquarie Mid Cap Value Fund
LVIP Delaware SMID Cap Core Fund
LVIP Macquarie SMID Cap Core Fund
LVIP Delaware Social Awareness Fund
LVIP Macquarie Social Awareness Fund
LVIP Delaware U.S. Growth Fund
LVIP Macquarie U.S. Growth Fund
LVIP Delaware U.S. REIT Fund
LVIP Macquarie U.S. REIT Fund
LVIP Delaware Value Fund
LVIP Macquarie Value Fund
LVIP Delaware Wealth Builder Fund
LVIP Macquarie Wealth Builder Fund
LVIP T. Rowe Price Growth Stock Fund
LVIP AllianceBernstein Large Cap Growth Fund
 
 
*Please review Appendix A for additional fund information.
3
Fund Name and Share Class Changes:
  
Former Fund Name / Share Class
New Fund Name / Share Class*
Delaware Ivy VIP Asset Strategy Portfolio – Class II
Macquarie VIP Asset Strategy Series – Service Class
Delaware Ivy VIP Energy Portfolio – Class II
Macquarie VIP Energy Series – Service Class
Delaware Ivy VIP High Income Portfolio – Class II
Macquarie VIP High Income Series – Service Class
Delaware Ivy VIP Mid Cap Growth Portfolio – Class II
Macquarie VIP Mid Cap Growth Series – Service Class
Delaware Ivy VIP Science and Technology Portfolio – Class II
Macquarie VIP Science and Technology Series – Service Class
Delaware Ivy VIP Small Cap Growth Portfolio – Class II
Macquarie VIP Small Cap Growth Series – Service Class
 
 
*Please review Appendix A for additional fund information.
4
Important Information You Should Consider About the Lincoln Investor Advantage® Advisory Variable Annuity Contract 
 
FEES AND EXPENSES
Location in
Prospectus
Charges for Early
Withdrawals
There are no surrender charges associated with this Contract.
•N/A
Transaction
Charges
There is currently no charge for a transfer. We reserve the right to charge a $25 fee for
each transfer if you make more than 12 transfers in one Contract Year.
•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
0.13%1
0.13%1
Investment options (fund fees and
expenses)
0.48%1
4.08%1
Optional benefits available for an
additional charge (for a single optional
benefit, if elected)
0.40%1
0.40%1
1 As a percentage of average daily net assets in the Subaccounts.
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: $726
Highest Annual Cost: $4,678
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 sales charges or 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 sales charges or 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
Not a Short-Term
Investment
•This Contract is not designed for short-term investing and may not be appropriate for
the investor who needs ready access to cash.
•The benefits of tax deferral and long-term income 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
5
 
RISKS
Location in
Prospectus
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 New York. 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 charge a $25 fee for each transfer if you make more than 12
transfers in one Contract Year.
•We reserve the right to remove or substitute any funds as investment options that
are available under the Contract.
•Principal Risks
•Investments of
the Variable
Annuity
Account
Optional Benefits
•You are required to have a certain level of Contract Value for new elections of i4LIFE®
Advantage.
•Optional benefit availability may vary by selling broker-dealer.
•If you elect i4LIFE® Advantage, 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 any values under your Contract and may be subject to federal and
state income taxes and a 10% federal penalty tax.
•The Contracts
•The Contracts
– i4LIFE
Advantage®
•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
6
Appendix A — Funds Available Under The Contract
The following is a list of funds currently available under the Contract. Current performance of the Subaccounts can be found at www.lfg.com/VAprospectus. More information about the funds is available in the prospectuses for the Funds, which may be amended from time to time and can be found online at www.lfg.com/VAprospectus. You can also request this information and current fund performance at no cost by calling 1-888-868-2583 or by sending an email request to CustServSupportTeam@lfg.com.
The current expenses and performance information below reflects fees and expenses of the Fund, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each fund’s past performance is not necessarily an indication of future performance. 
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 B
advised by AllianceBernstein L.P.
This fund is not available in contracts
issued on or after May 24, 2021.
1.06%
16.86%
10.51%
7.29%
Maximize total return.
ALPS Global Opportunity Portfolio -
Class III
2.41%2
28.80%
11.63%
N/A
investment results that correspond
(before fees and expenses) generally to
the price and yield performance of its
underlying index, the Alerian Midstream
Energy Select Index.
ALPS/Alerian Energy Infrastructure
Portfolio - Class III
1.30%2
13.91%
10.67%
2.70%
High total return (including income and
capital gains) consistent with
preservation of capital over the long
term.
American Funds Asset Allocation Fund -
Class 4
0.80%
14.02%
8.92%
6.98%
Seeks to provide a level of current
income that exceeds the average yield
on U.S. stocks generally and to provide
a growing stream of income over the
years.
American Funds Capital Income
Builder® - Class 4
0.78%2
8.75%
7.18%
N/A
Long-term growth of capital.
American Funds Global Growth Fund -
Class 4
0.91%2
22.29%
13.36%
9.30%
Long-term capital growth.
American Funds Global Small
Capitalization Fund - Class 4
1.16%2
15.79%
8.03%
5.51%
Growth of capital.
American Funds Growth Fund - Class 4
0.84%
38.13%
18.38%
14.07%
Long-term growth of capital and income.
American Funds Growth-Income Fund -
Class 4
0.78%
25.82%
13.08%
10.63%
Long-term growth of capital.
American Funds International Fund -
Class 4
1.03%
15.56%
4.58%
3.15%
To provide current income and
preservation of capital.
American Funds Mortgage Fund - Class
4
0.82%2
3.51%
0.57%
1.24%
Long-term capital appreciation.
American Funds New World Fund® -
Class 4
1.07%2
15.67%
8.37%
4.43%
A-1
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 produce income and to provide an
opportunity for growth of principal
consistent with sound common stock
investing.
American Funds Washington Mutual
Investors Fund - Class 4
0.77%2
16.97%
12.33%
9.64%
Capital Appreciation.
ClearBridge Variable Growth Portfolio -
Class II
(formerly ClearBridge Variable
Aggressive Growth Portfolio)
advised by Legg Mason Partners Fund
Advisor, LLC
1.10%
24.13%
8.05%
6.38%
Long-term growth of capital.
ClearBridge Variable Large Cap Growth
Portfolio - Class II
advised by Legg Mason Partners Fund
Advisor, LLC
1.01%
43.66%
15.22%
N/A
Long-term growth of capital.
ClearBridge Variable Mid Cap Portfolio -
Class II
advised by Legg Mason Partners Fund
Advisor, LLC
1.08%
12.62%
10.46%
6.83%
Total return.
Columbia VP Commodity Strategy Fund
- Class 2
1.01%2
-7.14%
9.08%
-0.97%
High total return through current income
and, secondarily, through capital
appreciation.
Columbia VP Emerging Markets Bond
Fund - Class 2
1.00%2
10.02%
1.57%
2.20%
Total return, consisting of current
income and capital appreciation.
Columbia VP Strategic Income Fund -
Class 2
0.94%2
9.20%
2.91%
2.99%
Capital Appreciation. A fund of funds.
DWS Alternative Asset Allocation VIP
Portfolio - Class B
advised by DWS Investment
Management Americas, Inc.
This fund is not available in contracts
issued on or after May 24, 2021.
1.21%
5.67%
5.70%
2.63%
To provide a high level of current
income.
Eaton Vance VT Floating-Rate Income
Fund - Initial Class
1.17%
11.21%
4.13%
3.22%
Income and capital growth consistent
with reasonable risk.
Fidelity® VIP Balanced Portfolio -
Service Class 2
0.69%
21.29%
12.16%
8.81%
Capital appreciation.
Fidelity® VIP Consumer Discretionary
Portfolio - Service Class 2
0.87%
N/A
N/A
N/A
Capital appreciation.
Fidelity® VIP Consumer Staples
Portfolio - Service Class 2
0.87%
N/A
N/A
N/A
Long-term capital appreciation.
Fidelity® VIP Contrafund® Portfolio -
Service Class 2
0.81%
33.12%
16.36%
11.33%
Capital appreciation.
Fidelity® VIP Financials Portfolio -
Service Class 2
0.88%
N/A
N/A
N/A
High total return. A fund of funds.
Fidelity® VIP FundsManager® 50%
Portfolio - Service Class 2
This fund is not available in contracts
issued on or after May 24, 2021.
0.85%2
12.65%
7.36%
5.35%
To achieve capital appreciation.
Fidelity® VIP Growth Portfolio - Service
Class 2
0.83%
35.89%
19.34%
14.51%
A-2
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.
Fidelity® VIP Mid Cap Portfolio - Service
Class 2
0.82%
14.80%
12.17%
7.85%
High level of current income, and may
also seek capital appreciation.
Fidelity® VIP Strategic Income Portfolio
- Service Class 2
0.90%
9.18%
3.47%
3.10%
Capital appreciation.
Fidelity® VIP Technology Portfolio -
Service Class 2
0.87%
N/A
N/A
N/A
To provide long-term capital
appreciation.
First Trust Capital Strength Hedged
Equity Portfolio – Class I
1.25%2
N/A
N/A
N/A
To provide capital appreciation.
First Trust Capital Strength Portfolio –
Class I
1.10%2
7.75%
N/A
N/A
To provide total return. A fund of funds.
First Trust Dorsey Wright Tactical Core
Portfolio – Class I
1.30%2
11.28%
7.15%
N/A
To provide long-term capital
appreciation.
First Trust Growth Strength Portfolio –
Class I
1.20%2
N/A
N/A
N/A
To provide capital appreciation.
First Trust International Developed
Capital Strength Portfolio – Class I
1.20%2
16.90%
N/A
N/A
To maximize current income, with a
secondary objective of capital
appreciation.
First Trust Multi Income Allocation
Portfolio - Class I
1.14%2
8.94%
6.25%
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 I6
1.19%
10.51%
7.23%
6.53%
Capital appreciation with income as a
secondary objective.
Franklin Allocation VIP Fund - Class 4
0.92%2
14.62%
7.44%
4.64%
To maximize income while maintaining
prospects for capital appreciation.
Franklin Income VIP Fund - Class 4
0.81%2
8.55%
6.88%
4.90%
Balance of growth of capital and income.
A fund of funds.
Franklin Multi-Asset Variable
Conservative Growth - Class II
advised by Legg Mason Partners Fund
Advisor, LLC
This fund is not available in contracts
issued on or after May 24, 2021.
0.97%
14.28%
7.10%
N/A
Capital appreciation; income is a
secondary consideration.
Franklin Mutual Shares VIP Fund - Class
4
This fund is not available in contracts
issued on or after May 24, 2021.
1.03%
13.31%
7.71%
5.32%
Long-term capital appreciation;
preservation of capital is also an
important consideration.
Franklin Rising Dividends VIP Fund -
Class 4
1.00%2
11.99%
13.64%
10.12%
Long-term total return.
Franklin Small Cap Value VIP Fund -
Class 4
1.01%2
12.67%
10.97%
6.94%
Long-term capital growth.
Franklin Small-Mid Cap Growth VIP
Fund - Class 4
1.18%2
26.70%
13.41%
8.86%
A-3
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.
Guggenheim VT Long Short Equity
advised by Security Investors, LLC
1.92%
12.75%
5.76%
3.32%
To seek long-term capital appreciation
with less risk than traditional equity
funds.
Guggenheim VT Multi-Hedge Strategies
advised by Security Investors, LLC
1.75%2
4.37%
4.21%
2.52%
Growth of capital.
Hartford Capital Appreciation HLS Fund -
Class IC
This fund is not available in contracts
issued on or after May 24, 2021.
1.17%
19.38%
12.73%
8.73%
Capital Appreciation.
Invesco Oppenheimer V.I. International
Growth Fund - Series II Shares
1.25%2
20.64%
8.43%
3.57%
To seek total return .
Invesco V.I. Balanced-Risk Allocation
Fund - Series II Shares
This fund is not available in contracts
issued on or after May 24, 2021.
1.13%2
6.40%
4.66%
3.79%
Capital growth and income.
Invesco V.I. Comstock Fund - Series II
Shares
1.00%
12.10%
13.20%
8.65%
To seek to provide reasonable current
income and long-term growth of income
and capital.
Invesco V.I. Diversified Dividend Fund -
Series II Shares
0.93%
8.77%
9.53%
7.53%
To seek to achieve a high level of total
return on its assets through a
combination of capital appreciation and
current income.
Invesco V.I. Equally-Weighted S&P 500
Fund - Series II Shares5
This fund is not available in contracts
issued on or after May 24, 2021.
0.59%
13.43%
13.17%
9.76%
Both capital appreciation and current
income.
Invesco V.I. Equity and Income Fund -
Series II Shares
0.82%
10.24%
9.64%
6.78%
Long-term growth of capital.
Invesco V.I. EQV International Equity
Fund - Series II Shares
1.15%
17.86%
8.15%
4.07%
Capital Appreciation.
Invesco V.I. Main Street Small Cap
Fund®- Series II Shares
1.13%
17.82%
12.79%
8.66%
Seeks, over a specified annual period
(an “Outcome Period”), to provide
returns that track those of the Invesco
QQQ TrustSM , Series 1 up to a cap,
while providing a buffer against losses.
A fund of funds.
Lincoln Hedged Nasdaq-100 Fund -
Service Class
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
1.20%2
36.33%
N/A
N/A
Over a specified annual period (an
“Outcome Period”), to provide returns
that track those of the S&P 500 Price
Return Index (“Index”) up to a cap, while
providing a buffer against losses. A fund
of funds.
Lincoln Hedged S&P 500 Conservative
Fund - Service Class4
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
1.05%2
13.00%
N/A
N/A
Over a specified annual period (an
“Outcome Period”), to provide returns
that track those of the S&P 500 Price
Return Index (“Index”) up to a cap, while
providing a buffer against losses. A fund
of funds.
Lincoln Hedged S&P 500 Fund - Service
Class4
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
1.05%2
16.63%
N/A
N/A
A-4
Investment Objective
Fund and
Adviser/Sub-adviser1
Current Expenses
Average Annual Total
Returns (as of 12/31/2023)
 
 
 
1 year
5 year
10 year
Seeks, over a specified annual period
(an “Outcome Period”), to provide
returns that track those of the Invesco
QQQ TrustSM , Series 1 up to a cap,
while providing a buffer against losses.
A fund of funds.
Lincoln Opportunistic Hedged Equity
Fund - Service Class
1.05%2
N/A
N/A
N/A
To seek high current income and the
opportunity for capital appreciation to
produce a high total return.
Lord Abbett Series Fund Bond
Debenture Portfolio - Class VC
0.90%
6.55%
3.14%
3.49%
Long-term growth of capital.
Lord Abbett Series Fund Developing
Growth Portfolio - Class VC
This fund is not available in contracts
issued on or after May 24, 2021.
1.04%2
8.17%
8.90%
6.82%
To seek high level of income consistent
with preservation of capital.
Lord Abbett Series Fund Short Duration
Income Portfolio - Class VC
0.85%
5.05%
1.69%
N/A
Long-term capital growth.
LVIP AllianceBernstein Large Cap
Growth Fund - Service Class
(formerly LVIP T. Rowe Price Growth
Stock Fund)
advised by Lincoln Financial Investments
Corporation
0.88%2
45.95%
13.04%
11.39%
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
- Service Class
advised by Lincoln Financial Investments
Corporation
0.93%2
13.27%
7.63%
5.72%
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 -
Service Class
(formerly American Century VP
Balanced Fund)
advised by Lincoln Financial Investments
Corporation
1.02%2
16.12%
8.20%
N/A
Capital growth.
LVIP American Century Capital
Appreciation Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
0.94%2
20.55%
13.09%
N/A
Capital growth; income is a secondary
consideration.
LVIP American Century Disciplined Core
Value Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
0.96%2
8.24%
9.92%
7.92%
Long-term total return using a strategy
that seeks to protect against U.S.
inflation.
LVIP American Century Inflation
Protection Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
0.77%2
3.40%
2.65%
1.90%
A-5
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 American Century International
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
1.10%2
12.43%
8.12%
3.91%
Long-term capital growth, income is
secondary objective.
LVIP American Century Large Company
Value Fund - Service Class
(formerly American Century VP Large
Company Value Fund)
advised by Lincoln Financial Investments
Corporation
0.85%2
3.78%
10.37%
7.58%
Long-term capital growth, income is
secondary objective.
LVIP American Century Mid Cap Value
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
1.01%2
6.03%
10.90%
8.61%
Long-term capital growth.
LVIP American Century Ultra Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
0.90%2
43.27%
19.07%
14.47%
Long-term capital growth; income is a
secondary consideration.
LVIP American Century Value Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
0.86%2
9.02%
11.71%
8.36%
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 -
Service Class
advised by Lincoln Financial Investments
Corporation
0.94%2
14.55%
8.17%
6.12%
Current income, consistent with the
preservation of capital. A fund of funds.
LVIP American Preservation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.86%2
3.74%
0.98%
1.00%
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 - Service Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after May 24, 2021.
0.91%2
9.12%
9.27%
6.16%
A-6
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 -
Service Class
advised by Lincoln Financial Investments
Corporation
0.98%2
13.35%
N/A
N/A
To maximize real return, consistent with
preservation of real capital and prudent
investment management.
LVIP BlackRock Inflation Protected Bond
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.88%
4.81%
2.90%
1.93%
Total return through a combination of
current income and long-term capital
appreciation.
LVIP BlackRock Real Estate Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
1.07%2
12.79%
4.50%
3.59%
Seeks long-term capital appreciation.
LVIP Channing Small Cap Value Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
1.13%
19.65%
N/A
N/A
Long-term capital appreciation.
LVIP Dimensional International Core
Equity Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.87%2
15.72%
7.72%
N/A
Long-term capital appreciation. A fund
of funds.
LVIP Dimensional International Equity
Managed Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after May 24, 2021.
1.01%
16.40%
5.24%
2.03%
Long-term capital appreciation.
LVIP Dimensional U.S. Core Equity 1
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.75%2
22.36%
14.59%
10.69%
Long-term capital appreciation.
LVIP Dimensional U.S. Core Equity 2
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.74%
21.35%
14.45%
N/A
Long-term capital appreciation. A fund
of funds.
LVIP Dimensional U.S. Equity Managed
Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after May 24, 2021.
0.86%2
21.64%
12.58%
7.75%
Long-term capital growth.
LVIP Franklin Templeton Global Equity
Managed Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after May 24, 2021.
0.98%2
16.95%
8.71%
4.32%
A-7
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
Emerging Markets Equity Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
0.75%2
9.76%
2.86%
1.34%
To maximize long-term capital
appreciation.
LVIP Franklin Templeton Multi-Factor
International Equity Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.66%2
18.62%
6.47%
4.13%
To maximize long-term capital
appreciation.
LVIP Franklin Templeton Multi-Factor
Large Cap Equity Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.61%2
17.09%
12.53%
9.79%
To maximize long-term capital
appreciation.
LVIP Franklin Templeton Multi-Factor
SMID Cap Equity Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.64%2
15.25%
11.14%
6.89%
Capital appreciation. A fund of funds.
LVIP Global Aggressive Growth
Allocation Managed Risk Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after May 24, 2021.
1.04%2
13.80%
5.40%
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 Global Growth Allocation Managed
Risk Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after May 24, 2021.
1.01%2
13.05%
4.71%
3.46%
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 - Service Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after May 24, 2021.
1.00%2
11.56%
4.30%
3.30%
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 -
Service Class
advised by Lincoln Financial Investments
Corporation
0.64%2
4.48%
1.46%
0.87%
To maximize total return by investing
primarily in a diversified portfolio of
intermediate- and long-term debt
securities.
LVIP JPMorgan Core Bond Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.74%
5.66%
1.04%
1.56%
A high level of current income; capital
appreciation is the secondary objective.
LVIP JPMorgan High Yield Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.93%2
11.49%
4.69%
3.73%
A-8
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 with the secondary
goal of achieving current income by
investing in equity securities.
LVIP JPMorgan Mid Cap Value Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.99%
N/A
N/A
N/A
Current income and some capital
appreciation. A fund of funds.
LVIP JPMorgan Retirement Income Fund
- Service Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after May 24, 2021.
0.93%2
11.32%
4.75%
3.68%
Long-term capital appreciation.
LVIP JPMorgan Select Mid Cap Value
Managed Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after May 24, 2021.
1.03%2
11.80%
8.97%
5.35%
Capital growth over the long term.
LVIP JPMorgan Small Cap Core Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
1.03%
12.80%
9.12%
6.81%
High total return.
LVIP JPMorgan U.S. Equity Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.94%
26.84%
16.86%
12.15%
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
- Service Class
advised by Lincoln Financial Investments
Corporation
1.12%2
36.38%
13.28%
N/A
Maximum current income (yield)
consistent with a prudent investment
strategy.
LVIP Macquarie Bond Fund - Service
Class3
(formerly LVIP Delaware Bond Fund)
advised by Lincoln Financial Investments
Corporation
0.72%
5.57%
1.14%
1.64%
Total return.
LVIP Macquarie Diversified Floating Rate
Fund - Service Class3
(formerly LVIP Delaware Diversified
Floating Rate Fund)
advised by Lincoln Financial Investments
Corporation
0.88%2
5.31%
2.13%
1.43%
Maximum long-term total return
consistent with reasonable risk.
LVIP Macquarie Diversified Income Fund
- Service Class3
(formerly LVIP Delaware Diversified
Income Fund)
advised by Lincoln Financial Investments
Corporation
0.84%2
5.94%
1.75%
1.80%
A-9
Investment Objective
Fund and
Adviser/Sub-adviser1
Current Expenses
Average Annual Total
Returns (as of 12/31/2023)
 
 
 
1 year
5 year
10 year
Total return and, as a secondary
objective, high current income.
LVIP Macquarie High Yield Fund -
Service Class3
(formerly LVIP Delaware High Yield
Fund)
advised by Lincoln Financial Investments
Corporation
1.04%2
12.34%
5.19%
3.25%
Maximum total return, consistent with
reasonable risk.
LVIP Macquarie Limited-Term Diversified
Income Fund - Service Class3
(formerly LVIP Delaware Limited-Term
Diversified Income Fund)
advised by Lincoln Financial Investments
Corporation
0.83%2
4.68%
1.56%
1.36%
To maximize long-term capital
appreciation.
LVIP Macquarie Mid Cap Value Fund -
Service Class3
(formerly LVIP Delaware Mid Cap Value
Fund)
advised by Lincoln Financial Investments
Corporation
0.78%
10.86%
11.49%
8.24%
Long-term capital appreciation.
LVIP Macquarie SMID Cap Core Fund -
Service Class3
(formerly LVIP Delaware SMID Cap Core
Fund)
advised by Lincoln Financial Investments
Corporation
1.10%2
16.10%
11.91%
8.06%
To maximize long-term capital
appreciation.
LVIP Macquarie Social Awareness Fund -
Service Class3
(formerly LVIP Delaware Social
Awareness Fund)
advised by Lincoln Financial Investments
Corporation
0.80%
29.72%
15.45%
10.93%
Long-term capital appreciation.
LVIP Macquarie U.S. Growth Fund -
Service Class3
(formerly LVIP Delaware U.S. Growth
Fund)
advised by Lincoln Financial Investments
Corporation
1.02%
47.90%
18.02%
12.22%
Maximum long-term total return, with
capital appreciation as a secondary
objective.
LVIP Macquarie U.S. REIT Fund -
Service Class3
(formerly LVIP Delaware U.S. REIT
Fund)
advised by Lincoln Financial Investments
Corporation
1.13%2
12.24%
6.14%
5.94%
Long-term capital appreciation.
LVIP Macquarie Value Fund - Service
Class3
(formerly LVIP Delaware Value Fund)
advised by Lincoln Financial Investments
Corporation
0.98%
3.18%
7.78%
7.54%
A-10
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 a responsible level of income
and the potential for capital appreciation.
LVIP Macquarie Wealth Builder Fund -
Service Class3
(formerly LVIP Delaware Wealth Builder
Fund)
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after May 24, 2021.
0.96%2
9.64%
5.69%
4.19%
Long-term capital appreciation.
LVIP MFS International Growth Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
1.05%2
14.42%
9.55%
6.31%
Capital Appreciation.
LVIP MFS Value Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.87%2
7.80%
11.10%
8.30%
Current income consistent with the
preservation of capital.
LVIP Mondrian Global Income Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.90%2
3.76%
-1.16%
0.01%
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
- Service Class
advised by Lincoln Financial Investments
Corporation
1.00%2
19.81%
5.77%
3.19%
Long-term growth of capital. A fund of
funds.
LVIP Multi-Manager Global Equity
Managed Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after May 24, 2021.
1.14%2
25.58%
10.25%
N/A
To seek a high level of current income
consistent with preservation of capital.
LVIP PIMCO Low Duration Bond Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.93%2
4.61%
1.04%
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 - Service
Class
advised by Lincoln Financial Investments
Corporation
0.62%2
5.03%
0.52%
1.23%
A high level of current income, with
some consideration given to growth of
capital. A fund of funds.
LVIP SSGA Conservative Index
Allocation Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.76%2
10.46%
5.02%
3.83%
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 - Service Class
advised by Lincoln Financial Investments
Corporation
0.75%2
8.56%
2.48%
N/A
A-11
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 SSGA Global Tactical Allocation
Managed Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund will not be available in
contracts issued on or after May 24,
2021.
0.84%2
13.22%
6.02%
3.65%
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 -
Service Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after May 24, 2021.
0.64%2
17.27%
7.70%
3.76%
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 -
Service Class
advised by Lincoln Financial Investments
Corporation
0.60%2
15.75%
11.94%
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 - Service Class
advised by Lincoln Financial Investments
Corporation
0.76%
13.28%
7.11%
5.07%
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 - Service Class
advised by Lincoln Financial Investments
Corporation
0.76%
14.54%
7.77%
5.45%
Seeks an investment return that
approximates as closely as practicable,
before fees and expenses, the
performance of U.S. common stocks, as
represented by the Nasdaq-100® Index.
LVIP SSGA Nasdaq-100 Index Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.70%2
54.11%
N/A
N/A
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 -
Service Class4
advised by Lincoln Financial Investments
Corporation
0.48%
25.70%
15.12%
11.49%
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
- Service Class
advised by Lincoln Financial Investments
Corporation
0.61%2
4.91%
1.62%
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 -
Service Class
advised by Lincoln Financial Investments
Corporation
0.63%2
16.21%
9.25%
6.47%
A high level of current income, with
some consideration given to growth of
capital. A fund of funds.
LVIP Structured Conservative Allocation
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.85%
9.99%
4.80%
3.71%
A-12
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 - Service Class
advised by Lincoln Financial Investments
Corporation
0.82%
12.81%
6.86%
4.96%
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 - Service Class
advised by Lincoln Financial Investments
Corporation
0.84%
13.98%
7.42%
5.28%
To maximize capital appreciation.
LVIP T. Rowe Price Structured Mid-Cap
Growth Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.97%2
20.87%
13.22%
10.54%
Capital appreciation. A fund of funds.
LVIP U.S. Aggressive Growth Allocation
Managed Risk Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after May 24, 2021.
1.06%2
15.52%
6.37%
N/A
Total return consistent with the
preservation of capital. A fund of funds.
LVIP Vanguard Bond Allocation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.62%
5.73%
0.33%
1.02%
Long-term capital appreciation. A fund
of funds.
LVIP Vanguard Domestic Equity ETF
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.57%2
24.91%
14.55%
10.81%
Long-term capital appreciation. A fund
of funds.
LVIP Vanguard International Equity ETF
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.59%2
15.07%
6.84%
3.74%
Capital growth.
LVIP Wellington Capital Growth Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.95%2
38.35%
16.68%
13.63%
Long-term capital appreciation.
LVIP Wellington SMID Cap Value Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
1.04%2
16.95%
12.17%
7.44%
Maximize total return.
LVIP Western Asset Core Bond Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.78%
6.19%
0.79%
N/A
Total return.
Macquarie VIP Asset Strategy Series -
Service Class3
(formerly Delaware Ivy VIP Asset
Strategy Portfolio)
advised by Delaware Management
Company
0.85%2
13.90%
8.27%
3.48%
A-13
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.
Macquarie VIP Emerging Markets Series
- Service Class3
(formerly Delaware VIP® Emerging
Markets Series)
advised by Delaware Management
Company
1.48%2
13.45%
3.87%
2.38%
Capital growth and appreciation.
Macquarie VIP Energy Series - Service
Class3
(formerly Delaware Ivy VIP Energy
Portfolio)
advised by Delaware Management
Company
1.17%2
4.06%
7.75%
-2.41%
To seek to provide total return through a
combination of high current income and
capital appreciation.
Macquarie VIP High Income Series -
Service Class3
(formerly Delaware Ivy VIP High Income
Portfolio)
advised by Delaware Management
Company
0.96%
11.95%
4.46%
3.70%
Growth of capital.
Macquarie VIP Mid Cap Growth Series -
Service Class3
(formerly Delaware Ivy VIP Mid Cap
Growth Portfolio)
advised by Delaware Management
Company
1.10%2
19.59%
14.63%
10.47%
Growth of capital.
Macquarie VIP Science and Technology
Series - Service Class3
(formerly Delaware Ivy VIP Science and
Technology Portfolio)
advised by Delaware Management
Company
1.15%
39.04%
17.17%
10.87%
Growth of capital.
Macquarie VIP Small Cap Growth Series
- Service Class3
(formerly Delaware Ivy VIP Small Cap
Growth Portfolio)
advised by Delaware Management
Company
1.14%2
13.11%
7.89%
6.28%
Capital Appreciation.
Macquarie VIP Small Cap Value Series -
Service Class3
(formerly Delaware VIP® Small Cap
Value Series)
advised by Delaware Management
Company
1.08%
9.10%
9.87%
6.77%
Capital Appreciation.
MFS® VIT Growth Series - Service Class
advised by Massachusetts Financial
Services Company
0.98%2
35.51%
15.59%
12.69%
Capital Appreciation.
MFS® VIT II International Intrinsic Value
Portfolio - Service Class
advised by Massachusetts Financial
Services Company
1.14%2
17.37%
8.31%
6.66%
A-14
Investment Objective
Fund and
Adviser/Sub-adviser1
Current Expenses
Average Annual Total
Returns (as of 12/31/2023)
 
 
 
1 year
5 year
10 year
Total return.
MFS® VIT Total Return Series - Service
Class
advised by Massachusetts Financial
Services Company
0.86%2
10.22%
8.27%
6.27%
Total return.
MFS® VIT Utilities Series - Service Class
advised by Massachusetts Financial
Services Company
1.04%2
-2.33%
8.05%
6.13%
To seek both capital appreciation and
current income.
Morgan Stanley VIF Global Infrastructure
Portfolio - Class II
1.12%2
4.27%
6.55%
4.98%
Maximum real return, consistent with
preservation of real capital and prudent
investment management. A fund of
funds.
PIMCO VIT All Asset Portfolio - Advisor
Class
advised by Pacific Investment
Management Company, LLC
2.29%2
8.02%
5.90%
3.93%
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 IB
0.92%
19.90%
10.43%
8.03%
Capital Appreciation.
Putnam VT Global Health Care Fund -
Class IB
1.01%
9.13%
13.48%
10.16%
High current income consistent with
what the manager believes to be prudent
risk.
Putnam VT Income Fund - Class IB
0.89%
4.69%
0.37%
1.43%
Capital growth and current income.
Putnam VT Large Cap Value Fund - Class
IB
0.82%
15.67%
14.50%
10.26%
Long-term capital appreciation.
Putnam VT Sustainable Future Fund -
Class IB
1.07%2
28.52%
12.28%
8.44%
Long-term capital appreciation.
Putnam VT Sustainable Leaders Fund -
Class IB
0.90%
26.11%
16.09%
12.59%
Long-term capital growth.
Templeton Foreign VIP Fund - Class 4
1.17%2
20.69%
5.17%
1.18%
High current income consistent with
preservation of capital; capital
appreciation is a secondary objective.
Templeton Global Bond VIP Fund - Class
4
0.85%2
2.82%
-2.23%
-0.76%
Long-term capital appreciation by
investing primarily in global resource
securities.
VanEck VIP Global Resources Fund -
Class S Shares
1.36%
-3.84%
10.34%
-1.26%
Long-term total return.
Virtus Newfleet Multi-Sector
Intermediate Bond Series - Class A
Shares
0.94%2
8.69%
3.19%
2.94%
1
The name of the adviser or sub-adviser is not listed if the name is incorporated into the name of the fund or the fund company.
2
This fund is subject to an expense reimbursement or fee waiver arrangement. As a result, this fund’s annual expenses reflect temporary expense reductions. See the fund prospectus for additional information.
3
Investments in Macquarie VIP Series, Delaware Funds, Ivy Funds, LVIP Macquarie Funds or Lincoln Life accounts managed by Macquarie Investment Management Advisers, a series of Macquarie Investments Management Business Trust, are not and will not be deposits with or liabilities of Macquarie Bank Limited ABN 46008 583 542 and its holding companies, including their subsidiaries or related companies, and are subject to investment risk, including possible delays in prepayment and loss of income and capital invested. No Macquarie Group company guarantees or will guarantee the performance of the series or funds or accounts, the repayment of capital from the series or funds or account, or any particular rate of return.
4
The Index to which this fund is managed to is a product of S&P Dow Jones Indices LLC (SPDJI) and has been licensed for use by one or more of the portfolio’s service providers (licensee). Standard & Poor’s®, S&P®, S&P GSCI® and S&P 500® are registered trademarks of S&P Global, Inc. or its affiliates (S&P) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones). The trademarks have been licensed for use by SPDJI and
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sublicensed for certain purposes by the licensee. The licensee’s products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, or their third party licensors, and none of these parties or their respective affiliates or third party licensors make any representation regarding the advisability of investing in such products, nor do they have liability for any errors, omissions, or interruptions of the Index.
5
Standard & Poor’s®,” “S&P®,” “Standard & Poor’s Equal Weight Index,” “S&P EWI,” “S&P 500®,” “Standard & Poor’s 500” and “500” are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by the Invesco V.I. Equally-Weighted S&P 500 Fund. The fund is not sponsored, endorsed, sold or promoted by S&P, and S&P makes no representation regarding the advisability of investing in the fund.
6
Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). The trademark has been licensed to S&P Dow Jones Indices LLC and has been sublicensed for use for certain purposes by First Trust Advisors L.P. The product is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of purchasing the product.
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This updating summary prospectus incorporates by reference the prospectus and statement of additional information (SAI) for the Contract, both dated May 1, 2024, as may be amended or supplemented from time to time. The SAI may be obtained, free of charge, in the same manner as the prospectus.
 
SEC File Nos. 333-214113; 811-09763
EDGAR Contract Identifier C000176386