American Legacy® Signature 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 American Legacy® Signature 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 American Legacy® Signature contract.
The prospectus for the American Legacy® Signature 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 1-800-942-5500 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 were effective on December 18, 2023:
•
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) and Lincoln Market Select® Advantage. These riders are only available for election at the time the contract is issued. This means neither rider is available for post-issue elections. The Contractowner/Annuitant must be age 79 or younger (younger of you or your spouse) at the time either rider is elected.
•
Lincoln Max 6 Select® Advantage. This rider is no longer available for election.
•
Guaranteed Income Benefit. The i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) rider is no longer available for election unless you are transitioning to Guaranteed Income Benefit from a Prior Rider.
•
Annuity Payouts. When you apply for a Contract, you may select any Annuity Commencement Date that is either prior to the tenth Contract anniversary, or prior to the Annuitant’s 90th birthday, whichever is later.
•
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.
2
Important Information You Should Consider About the American Legacy® Signature Variable Annuity Contract 
 
FEES AND EXPENSES
Location in
Prospectus
Charges for Early
Withdrawals
If you make a withdrawal in excess of the free withdrawal amount before the 7th
anniversary since your last Purchase Payment (Signature 1) or 4th anniversary
(Signature 2), you may be assessed a surrender charge of up to 7% of the amount
withdrawn, declining to 0% over that time period. For example, if you make a withdrawal
of $100,000 during the first year after your Purchase Payment, you could be assessed a
charge of up to $7,000 on the Purchase Payment withdrawn.
•Fee Tables
•Examples
•Charges and
Other
Deductions –
Surrender
Charge
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.
•Charges and
Other
Deductions
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.
•Fee Tables
•Examples
•Charges and
Other
Deductions
Annual Fee
Minimum
Maximum
 
Base Contract – Account Value Death
Benefit
1.27%1
1.62%1
 
 
Base Contract – Guarantee of Principal
Death Benefit
1.32%1
1.67%1
 
 
Base Contract – Enhanced Guaranteed
Minimum Death Benefit
1.57%1
1.92%1
 
 
Investment options (fund fees and
expenses)
0.53%1
1.20%1
 
 
Optional benefits available for an
additional charge (for a single optional
benefit, if elected)
0.40%1
2.45%2
 
 
1 As a percentage of average Account Value in the Subaccounts.
 
 
2 As an annualized percentage of the Protected Income Base.
 
 
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. This estimate assumes that you do not take withdrawals from the
Contract, which could add surrender charges that substantially increase costs.
 
 
Lowest Annual Cost: $2,095
Highest Annual Cost: $6,090
 
 
Assumes:
Assumes:
 
 
•Investment of $100,000
•5% annual appreciation
•Least expensive combination of
contract class, fund fees and expenses
•No optional benefits
•No surrender charges
•No additional Purchase Payments,
transfers, or withdrawals
•Investment of $100,000
•5% annual appreciation
•Most expensive combination of
contract class, optional benefits, fund
fees and expenses
•No surrender charges
•No additional Purchase Payments,
transfers, or withdrawals
 
3
 
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 is not appropriate for the
investor who needs ready access to cash.
•Withdrawals may result in surrender charges. If you take a withdrawal, any surrender
charge will 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 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
•Charges and
Other
Deductions
•Living Benefit
Riders
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
New York, including our financial strength ratings, is available upon request by
calling 1-800-942-5500 or visiting www.LincolnFinancial.com.
•Principal Risks
 
RESTRICTIONS
Location in
Prospectus
Investments
•The frequency of transfers between investment options is restricted. There are also
restrictions on the minimum amount that may be transferred from a variable option
and the maximum amount that may be transferred from the fixed account option.
•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.
•Your ability to transfer between investment options may also be restricted as a result
of Investment Requirements if you have elected an optional benefit.
•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 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.
•You are required to have a certain level of Contract Value for some new rider
elections.
•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).
•The Contracts
•Living Benefit
Riders
•Appendix B –
Investment
Requirements
•Appendix C –
Discontinued
Living Benefit
Riders
4
 
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
Investment
Professional
Compensation
•Your registered representative may receive compensation for selling this Contract to
you, both in the form of commissions and because we may share the revenue it
earns on this Contract with the professional’s firm. (Your investment professional
may be your broker, investment adviser, insurance agent, or someone else).
•This potential conflict of interest may influence your investment professional to
recommend this Contract over another investment.
•Distribution of
the Contracts
•Principal Risks
Exchanges
•If you already own a contract, some investment professionals may have a financial
incentive to offer you a new Contract in place of the one you own. 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
5
Appendix A — Funds Available Under The Contract
The following is a list of funds currently available under the Contract. Depending on the optional benefits you choose, you may not be able to invest in certain funds. 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 1-800-942-5500 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
High total return (including income and
capital gains) consistent with
preservation of capital over the long
term.
American Funds Asset Allocation Fund -
Class 2
This fund is not available in contracts
issued on or after January 9, 2017.
0.55%
14.27%
9.20%
7.25%
High total return (including income and
capital gains) consistent with
preservation of capital over the long
term.
American Funds Asset Allocation Fund -
Class 4
This fund is not available in contracts
issued before January 9, 2017.
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
To provide, over the long term, with a
high level of total return consistent with
prudent investment management.
American Funds Capital World Bond
Fund - Class 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.73%
6.14%
-0.33%
0.36%
To provide, over the long term, with a
high level of total return consistent with
prudent investment management.
American Funds Capital World Bond
Fund - Class 4
This fund is not available in contracts
issued before May 22, 2017.
0.98%
5.89%
-0.56%
0.12%
Long-term growth of capital while
providing current income.
American Funds Capital World Growth
and Income Fund - Class 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.66%2
20.88%
10.34%
7.62%
Long-term growth of capital while
providing current income.
American Funds Capital World Growth
and Income Fund - Class 4
This fund is not available in contracts
issued before May 22, 2017.
0.91%2
20.65%
10.07%
7.36%
The balanced accomplishment of three
objectives: long-term growth of capital,
conservation of principal and current
income.
American Funds Global Balanced Fund -
Class 2
This fund is not available in contracts
issued on or after January 9, 2017.
0.77%2
13.83%
7.44%
5.40%
The balanced accomplishment of three
objectives: long-term growth of capital,
conservation of principal and current
income.
American Funds Global Balanced Fund -
Class 4
This fund is not available in contracts
issued before January 9, 2017.
1.02%2
13.45%
7.16%
5.20%
Long-term growth of capital.
American Funds Global Growth Fund -
Class 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.66%2
22.60%
13.65%
9.58%
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
Long-term growth of capital.
American Funds Global Growth Fund -
Class 4
This fund is not available in contracts
issued before May 22, 2017.
0.91%2
22.29%
13.36%
9.30%
Long-term growth of capital. A fund of
funds.
American Funds Global Growth
PortfolioSM - Class 4
0.97%
23.03%
11.36%
N/A
Long-term capital growth.
American Funds Global Small
Capitalization Fund - Class 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.91%2
16.17%
8.31%
5.78%
Long-term capital growth.
American Funds Global Small
Capitalization Fund - Class 4
This fund is not available in contracts
issued before May 22, 2017.
1.16%2
15.79%
8.03%
5.51%
To provide long-term growth of capital
while providing current income. A fund of
funds.
American Funds Growth and Income
PortfolioSM - Class 4
0.82%
15.86%
8.53%
N/A
Growth of capital.
American Funds Growth Fund - Class 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.59%
38.49%
18.68%
14.36%
Growth of capital.
American Funds Growth Fund - Class 4
This fund is not available in contracts
issued before May 22, 2017.
0.84%
38.13%
18.38%
14.07%
Long-term growth of capital and income.
American Funds Growth-Income Fund -
Class 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.53%
26.14%
13.36%
10.91%
Long-term growth of capital and income.
American Funds Growth-Income Fund -
Class 4
This fund is not available in contracts
issued before May 22, 2017.
0.78%
25.82%
13.08%
10.63%
To provide investors with a high level of
current income; capital appreciation is
the secondary objective.
American Funds High-Income Trust -
Class 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.57%2
12.45%
6.09%
4.41%
To provide investors with a high level of
current income; capital appreciation is
the secondary objective.
American Funds High-Income Trust -
Class 4
This fund is not available in contracts
issued before May 22, 2017.
0.82%2
12.18%
5.84%
4.15%
Long-term growth of capital.
American Funds International Fund -
Class 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.78%
15.84%
4.83%
3.41%
Long-term growth of capital.
American Funds International Fund -
Class 4
This fund is not available in contracts
issued before May 22, 2017.
1.03%
15.56%
4.58%
3.15%
Long-term growth of capital while
providing current income.
American Funds International Growth
and Income Fund - Class 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.81%
15.76%
6.11%
3.31%
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 while
providing current income.
American Funds International Growth
and Income Fund - Class 4
This fund is not available in contracts
issued before May 22, 2017.
1.06%
15.66%
5.86%
3.06%
To provide high total return (including
income and capital gains) consistent with
preservation of capital over the long term
while seeking to manage volatility and
provide downside protection. A fund of
funds.
American Funds Managed Risk Asset
Allocation Fund - Class P2
0.90%2
10.23%
5.91%
4.74%
High total return (including income and
capital gains) consistent with
preservation of capital over the long term
while seeking to manage volatility and
provide downside protection. A fund of
funds.
American Funds Managed Risk Global
Allocation PortfolioSM - Class P2
1.04%2
10.52%
4.56%
N/A
Long-term growth of capital and current
income while seeking to manage volatility
and provide downside protection. A fund
of funds.
American Funds Managed Risk Growth
and Income PortfolioSM - Class P2
0.91%2
11.71%
5.66%
N/A
To provide growth of capital while
seeking to manage volatility and provide
downside protection. A fund of funds.
American Funds Managed Risk Growth
Fund - Class P2
0.94%2
23.50%
10.98%
8.30%
Long-term growth of capital while
seeking to manage volatility and provide
downside protection. A fund of funds.
American Funds Managed Risk Growth
PortfolioSM - Class P2
0.94%2
15.57%
6.73%
N/A
To achieve long-term growth of capital
and income while seeking to manage
volatility and provide downside
protection. A fund of funds.
American Funds Managed Risk Growth-
Income Fund - Class P2
0.87%2
15.90%
7.60%
6.15%
To provide long-term growth of capital
while seeking to manage volatility and
provide downside protection. A fund of
funds.
American Funds Managed Risk
International Fund - Class P2
1.10%2
6.22%
0.79%
0.24%
To produce income and to provide an
opportunity for growth of principal
consistent with sound common stock
investing while seeking to manage
volatility and provide downside
protection. A fund of funds.
American Funds Managed Risk
Washington Mutual Investors Fund -
Class P2
0.89%2
9.73%
5.59%
4.73%
To provide current income and
preservation of capital.
American Funds Mortgage Fund - Class 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.57%2
3.68%
0.80%
1.48%
To provide current income and
preservation of capital.
American Funds Mortgage Fund - Class 4
This fund is not available in contracts
issued before May 22, 2017.
0.82%2
3.51%
0.57%
1.24%
Long-term capital appreciation.
American Funds New World Fund® -
Class 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.82%2
15.99%
8.64%
4.69%
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.
American Funds New World Fund® -
Class 4
This fund is not available in contracts
issued before May 22, 2017.
1.07%2
15.67%
8.37%
4.43%
To provide as high a level of current
income as is consistent with the
preservation of capital.
American Funds The Bond Fund of
America - Class 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.48%2
5.02%
1.89%
2.08%
To provide as high a level of current
income as is consistent with the
preservation of capital.
American Funds The Bond Fund of
America - Class 4
This fund is not available in contracts
issued before May 22, 2017.
0.73%2
4.72%
1.62%
1.83%
To provide a high level of current income
consistent with prudent investment risk
and preservation of capital.
American Funds U.S. Government
Securities Fund - Class 2
This fund is not available in contracts
issued on or after January 9, 2017.
0.51%2
2.89%
1.04%
1.52%
To provide a high level of current income
consistent with prudent investment risk
and preservation of capital.
American Funds U.S. Government
Securities Fund - Class 4
This fund is not available in contracts
issued before January 9, 2017.
0.76%2
2.62%
0.79%
1.27%
To provide the investors with current
income, consistent with the maturity and
quality standards applicable to the fund,
and preservation of capital and liquidity.
American Funds Ultra-Short Bond Fund -
Class 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.56%
4.64%
1.37%
0.74%
To provide the investors with current
income, consistent with the maturity and
quality standards applicable to the fund,
and preservation of capital and liquidity.
American Funds Ultra-Short Bond Fund -
Class 4
This fund is not available in contracts
issued before May 22, 2017.
0.81%
4.44%
1.12%
0.53%
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 2
This fund is not available in contracts
issued on or after May 22, 2017.
0.52%2
17.29%
12.60%
9.91%
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
This fund is not available in contracts
issued before May 22, 2017.
0.77%2
16.97%
12.33%
9.64%
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%
A balance between a high level of current
income and growth of capital. A fund of
funds.
LVIP American Global Balanced
Allocation Managed Risk Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
0.95%
11.41%
5.39%
4.14%
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 Global Growth Allocation
Managed Risk Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.97%
13.57%
5.82%
4.14%
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
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%
A high level of current income with some
consideration given to growth of capital.
A fund of funds.
LVIP American Income Allocation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.93%2
10.40%
5.73%
4.51%
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%
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.
A-5
Appendix B — Investment Requirements
If you purchase a Living Benefit Rider (except i4LIFE® Advantage without the Guaranteed Income Benefit), you will be subject to Investment Requirements. This means you will be limited in your choice of Subaccount investments and may be limited in how much you can invest in certain Subaccounts. This also means you will not be able to allocate Contract Value to all of the Subaccounts that are available to Contractowners who have not elected a Living Benefit Rider. We impose Investment Requirements to reduce the risk of investment losses that may require us to use our own assets to make guaranteed payments under a Living Benefit Rider.
If you elect Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk), i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) or 4LATER® Advantage (Managed Risk) you must allocate your Contract Value in accordance with the Investment Requirements for Managed Risk Riders section below. If you elect any other Living Benefit Rider, you must allocate your Contract Value in accordance with the Investment Requirements for the Living Benefit Riders sections below, according to which rider you purchased and the date of purchase. Currently, if you purchase i4LIFE® Advantage without the Guaranteed Income Benefit, you will not be subject to any Investment Requirements, although we reserve the right to impose Investment Requirements for this rider in the future. If we do exercise our right to do so, you will have to reallocate your Account Value subject to such requirements.
If you elect a Living Benefit Rider, Investment Requirements apply whether you purchase the rider at contract issue, or add it to an existing Contract. You must hold the rider for a minimum period of time after election (the minimum time is specified under the Termination section of each rider). During this time, you will be required to adhere to the Investment Requirements. After this time, failure to adhere to the Investment Requirements will result in termination of the rider.
Certain Living Benefit Riders guarantee you the right to transition to a version of i4LIFE® Advantage Guaranteed Income Benefit even if that version is no longer available for purchase. If you transition to i4LIFE® Advantage Guaranteed Income Benefit, the Investment Requirements under your Prior Living Benefit Rider continue to apply. See i4LIFE® Advantage – i4LIFE® Advantage Guaranteed Income Benefit Transitions for a discussion of this transition.
Certain underlying funds that are included in the Investment Requirements, including funds managed by an adviser affiliated with us, employ risk management strategies that are intended to control the funds’ overall volatility, and for some funds, to also reduce the downside exposure of the funds during significant market downturns. These funds are included under Investment Requirements (particularly in the Investment Requirements for the Managed Risk riders) in part because the reduction in volatility helps us to reduce the risk of investment losses that may require us to use our own assets to make guaranteed payments under a Living Benefit Rider. At the same time, risk management strategies in periods of high market volatility or other market conditions, could limit your participation in market gains. This may conflict with your investment objectives by limiting your ability to maximize potential growth of your Contract Value and, in turn, the value of any guaranteed benefit that is tied to investment performance. You should consult with your registered representative to determine whether these funds align with your investment objectives. For more information about the funds and the investment strategies they employ, please refer to the funds’ current prospectuses. Fund prospectuses are available by contacting us.
If you purchase a Living Benefit Rider (except i4LIFE® Advantage without the Guaranteed Income Benefit), you agree to be automatically enrolled in the portfolio rebalancing option under your Contract and thereby authorize us to automatically rebalance your Contract Value on a periodic basis. (This portfolio rebalancing will continue while a death claim is being settled, if the Living Benefit Rider could continue on an additional measuring life.) On each quarterly anniversary of the effective date of the rider, we will rebalance your Contract Value in accordance with your allocation instructions in effect at the time of the rebalancing. Any reallocation of Contract Value among the Subaccounts made by you prior to a rebalancing date will become your allocation instructions for rebalancing purposes. Confirmation of the rebalancing will appear on your quarterly statement.
Some investment options are not available to you if you purchase certain riders. The Investment Requirements may not be consistent with an aggressive investment strategy. You should consult with your registered representative to determine if the Investment Requirements are consistent with your investment objectives.
B-1
Investment Requirements for Managed Risk Riders. If you elected Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk), 4LATER® Advantage (Managed Risk), are transitioning from one of these riders to i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk), or elect i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) prior to May 21, 2018 or on or after May 18, 2020, you must currently allocate your Contract Value among one or more of the following Subaccounts only. 
Group 1
Investments must be at least 20% of Contract
Value or Account Value
Group 2
Investments cannot exceed 80% of Contract
Value or Account Value
Group 3
Investments cannot exceed 10% of Contract
Value or Account Value
American Funds Mortgage Fund*
American Funds The Bond Fund of America*
American Funds U.S. Government Securities
Fund*
LVIP American Preservation Fund
American Funds Managed Risk Asset Allocation
Fund
American Funds Managed Risk Global Allocation
PortfolioSM
American Funds Managed Risk Growth and
Income PortfolioSM
American Funds Managed Risk Growth Fund
American Funds Managed Risk Growth
PortfolioSM
American Funds Managed Risk Growth-Income
Fund
American Funds Managed Risk International
Fund
American Funds Managed Risk Washington
Mutual Investors Fund
LVIP American Global Balanced Allocation
Managed Risk Fund
LVIP American Global Growth Allocation
Managed Risk Fund
No Subaccounts at this time.
*This fund is only available to contracts issued on or after May 22, 2017.
The fixed account, if available, is only available for dollar cost averaging.
As an alternative, to satisfy these Investment Requirements, you may allocate 100% of your Contract Value or i4LIFE® Advantage Account Value among the Subaccounts listed below. If you allocate less than 100% of Contract Value or i4LIFE® Advantage Account Value among these Subaccounts, then the Subaccounts listed below that are also listed in Group 1 will be subject to the Group 1 restrictions. Any remaining Subaccounts listed below that are not listed in Group 1 will fall into Group 2 and be subject to Group 2 restrictions.
•
American Funds Managed Risk Asset Allocation Fund
•
American Funds Managed Risk Global Allocation PortfolioSM
•
American Funds Managed Risk Growth and Income PortfolioSM
•
American Funds Managed Risk Growth PortfolioSM
•
American Funds Mortgage Fund*
•
American Funds The Bond Fund of America*
•
American Funds U.S. Government Securities Fund*
•
LVIP American Global Balanced Allocation Managed Risk Fund
•
LVIP American Global Growth Allocation Managed Risk Fund
•
LVIP American Preservation Fund
*This fund is only available to contracts issued on or after May 22, 2017.
Investment Requirements for other Living Benefit Riders for Contracts issued on or after May 22, 2017. If you elected i4LIFE®Advantage Select Guaranteed Income Benefit prior to May 21, 2018, or Lincoln Market Select® Advantage, or 4LATER® Select Advantage on or after May 22, 2017, or you are transitioning to i4LIFE® Advantage Select Guaranteed Income Benefit from one of these riders, you must currently allocate your Contract Value among one or more of the following Subaccounts. 
Group 1
Investments must be at least 20% of Contract Value or Account Value
Group 2
Investments cannot exceed 80% of Contract Value or Account Value
American Funds Mortgage Fund
American Funds The Bond Fund of America
American Funds U.S. Government Securities Fund
LVIP American Preservation Fund
American Funds Asset Allocation Fund
American Funds Capital Income Builder®
American Funds Capital World Growth and Income Fund
American Funds Global Balanced Fund
American Funds Global Growth Fund
American Funds Global Growth PortfolioSM
American Funds Growth and Income PortfolioSM
American Funds Growth Fund
American Funds Growth-Income Fund
American Funds High-Income Trust
American Funds International Fund
American Funds International Growth and Income Fund
B-2
Group 1
Investments must be at least 20% of Contract Value or Account Value
Group 2
Investments cannot exceed 80% of Contract Value or Account Value
 
American Funds Managed Risk Asset Allocation Fund
American Funds Managed Risk Global Allocation PortfolioSM
American Funds Managed Risk Growth and Income PortfolioSM
American Funds Managed Risk Growth PortfolioSM
American Funds Ultra-Short Bond Fund
American Funds Washington Mutual Investors Fund
LVIP American Balanced Allocation Fund
LVIP American Global Balanced Allocation Managed Risk Fund
LVIP American Global Growth Allocation Managed Risk Fund
LVIP American Growth Allocation Fund
LVIP American Income Allocation Fund
The fixed account is only available for dollar cost averaging.
As an alternative, if you purchased your Contract on or after May 22, 2017, to satisfy these Investment Requirements, you may allocate 100% of your Contract Value or i4LIFE® Advantage Account Value among the Subaccounts listed below. If you allocate less than 100% of Contract Value or i4LIFE® Advantage Account Value among these Subaccounts, then the Subaccounts listed below that are also listed in Group 1 will be subject to the Group 1 restrictions. Any remaining Subaccounts listed below that are not listed in Group 1 will fall into Group 2 and be subject to Group 2 restrictions.
•
American Funds Asset Allocation Fund
•
American Funds Global Balanced Fund
•
American Funds Growth and Income PortfolioSM
•
American Funds Managed Risk Asset Allocation Fund
•
American Funds Managed Risk Global Allocation PortfolioSM
•
American Funds Managed Risk Growth and Income PortfolioSM
•
American Funds Managed Risk Growth PortfolioSM
•
American Funds Mortgage Fund
•
American Funds The Bond Fund of America
•
American Funds U.S. Government Securities Fund
•
LVIP American Balanced Allocation Fund
•
LVIP American Global Balanced Allocation Managed Risk Fund
•
LVIP American Global Growth Allocation Managed Risk Fund
•
LVIP American Growth Allocation Fund
•
LVIP American Income Allocation Fund
•
LVIP American Preservation Fund
The fixed account, if available, is only available for dollar cost averaging.
Additionally, Contract Value may be allocated in accordance with certain asset allocation models made available to you by your broker-dealer. If so, currently 100% of the Contract Value can be allocated to one of the following models: American Funds Balanced Model Portfolio, American Funds Conservative Model Portfolio, American Funds Asset Allocation Fund & American Funds U.S. Government/AAA-Rated Securities Fund Model, American Funds IS TRICAP Global Moderate Growth Portfolio or American Funds IS TRICAP Moderate Growth Portfolio. You may only choose one asset allocation model at a time, though you may change to a different asset allocation model available in your Contract that meets the Investment Requirements or reallocate Contract Value according to the Investment Requirements listed above. The American Funds IS TRICAP Moderate Growth Portfolio and the American Funds IS TRICAP Global Moderate Growth Portfolio are available for existing Contractowners only. If you terminate an asset allocation model, you must follow the Investment Requirements applicable to your rider. We may exclude an asset allocation model from being available for investment at any time, in our sole discretion. You will be notified prior to the date of such a change.
Investment Requirements for other Living Benefit Riders for Contracts issued prior to May 22, 2017 that elect a rider on or after August 29, 2016 (October 3, 2016 for existing Contractowners). If you elect i4LIFE® Advantage Select Guaranteed Income Benefit on or after August 29, 2016 (October 3, 2016 for existing Contractowners) but prior to May 21, 2018, or Lincoln Market Select® Advantage, Lincoln Max 6 SelectSM Advantage, 4LATER® Select Advantage, or you are transitioning to i4LIFE® Advantage Select Guaranteed Income Benefit from one of these riders (if applicable), you must currently allocate 100% of your Contract Value Account Value among one or more of the following Subaccounts.
•
American Funds Global Balanced Fund
•
American Funds Growth and Income PortfolioSM
•
American Funds Managed Risk Asset Allocation PortfolioSM
•
American Funds Managed Risk Global Allocation PortfolioSM
•
American Funds Managed Risk Growth PortfolioSM
•
American Funds Managed Risk Growth and Income PortfolioSM
•
LVIP American Balanced Allocation Fund
•
LVIP American Growth Allocation Fund
•
LVIP American Income Allocation Fund
•
LVIP American Preservation Fund
B-3
The fixed account, if available, is only available for dollar cost averaging.
As an alternative, to satisfy these Investment Requirements, contracts that purchase one of these Living Benefit Riders on or after August 29, 2016 (October 3, 2016 for existing Contractowners) and prior to January 9, 2017 may allocate 100% of your Contract Value or Account Value among the American Funds Asset Allocation Fund (85%) and the American Funds U.S. Government/AAA-Rated Securities Fund (15%).
Contracts that purchase one of these Living Benefit Riders on or after January 9, 2017 may satisfy these Investment Requirements by allocating 100% of the Contract Value or Account Value in accordance with the American Funds Asset Allocation Fund & American Funds U.S. Government/AAA-Rated Securities Fund, American Funds IS TRICAP Moderate Growth Portfolio or American Funds IS TRICAP Global Moderate Growth Portfolio asset allocation model made available to you by your broker-dealer. The American Funds IS TRICAP Moderate Growth Portfolio and the American Funds IS TRICAP Global Moderate Growth Portfolio are available for existing Contractowners only. If you terminate the asset allocation model, you must follow the Investment Requirements applicable to your rider. We may exclude an asset allocation model from being available for investment at any time, in our sole discretion. You will be notified prior to the date of such a change.
Investment Requirements for i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) elected on or after May 21, 2018 and prior to May 18, 2020. If you elected i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) on or after May 21, 2018 and prior to May 18, 2020, you must allocate 100% of your i4LIFE® Advantage Account Value among one or more of the following Subaccounts only. Not all funds may be available, refer to the “Description of the Funds” section of this prospectus for more information.
•
American Funds Managed Risk Asset Allocation Fund
•
American Funds Managed Risk Global Allocation PortfolioSM
•
American Funds Managed Risk Growth and Income PortfolioSM
•
American Funds Managed Risk Growth Fund
•
American Funds Managed Risk Growth PortfolioSM
•
American Funds Managed Risk Growth-Income Fund
•
American Funds Managed Risk International Fund
•
American Funds Managed Risk Washington Mutual Investors Fund
•
American Funds Mortgage Fund*
•
American Funds The Bond Fund of America*
•
American Funds U.S. Government Securities Fund*
•
LVIP American Global Balanced Allocation Managed Risk Fund
•
LVIP American Global Growth Allocation Managed Risk Fund
•
LVIP American Preservation Fund
*This fund is only available to contracts issued on or after May 22, 2017.
The fixed account is only available for dollar cost averaging.
Investment Requirements for i4LIFE® Advantage Select Guaranteed Income Benefit elected on or after May 21, 2018 and prior to May 18, 2020 for Contracts issued on or after May 22, 2017. If your Contract was issued on or after May 22, 2017 and you elect i4LIFE® Advantage Select Guaranteed Income Benefit on or after May 21, 2018 and prior to May 18, 2020, you may allocate 100% of your Account Value among all Subaccounts except those listed below.
•
American Funds Capital World Bond Fund
•
American Funds Global Small Capitalization Fund
•
American Funds New World Fund
The fixed account, if available, is only available for dollar cost averaging.
As an alternative, to satisfy these Investment Requirements, Account Value may be allocated in accordance with certain asset allocation models made available to you by your broker-dealer. If so, currently 100% of the Account Value can be allocated to one of the following models: American Funds Asset Allocation Fund & American Funds U.S. Government/AAA-Rated Securities Fund Model, American Funds Balanced Model Portfolio, American Funds Conservative Model Portfolio, American Funds IS TRICAP Global Moderate Growth Portfolio or American Funds IS TRICAP Moderate Growth Portfolio. You may only choose one asset allocation model at a time, though you may change to a different asset allocation model available in your Contract that meets the Investment Requirements or reallocate Account Value according to the Investment Requirements listed above. The American Funds IS TRICAP Moderate Growth Portfolio and the American Funds IS TRICAP Global Moderate Growth Portfolio are available for existing Contractowners only. If you terminate an asset allocation model, you must follow the Investment Requirements applicable to your rider. We may exclude an asset allocation model from being available for investment at any time, in our sole discretion. You will be notified prior to the date of such a change.
B-4
Investment Requirements for i4LIFE® Advantage Select Guaranteed Income Benefit elected on or after May 21, 2018 and prior to May 18, 2020 for Contracts issued prior to May 22, 2017. If your Contract was issued prior to May 22, 2017 and prior to May 18, 2020 and you elect i4LIFE® Advantage Select Guaranteed Income Benefit on or after May 21, 2018, you may allocate 100% of your Account Value among one or more of the following Subaccounts only.
•
American Funds Capital Income Builder®
•
American Funds Global Balanced Fund
•
American Funds Global Growth PortfolioSM
•
American Funds Growth and Income PortfolioSM
•
American Funds Managed Risk Asset Allocation Fund
•
American Funds Managed Risk Global Allocation PortfolioSM
•
American Funds Managed Risk Growth and Income PortfolioSM
•
American Funds Managed Risk Growth Fund
•
American Funds Managed Risk Growth PortfolioSM
•
American Funds Managed Risk Growth-Income Fund
•
American Funds Managed Risk International Fund
•
American Funds Managed Risk Washington Mutual Investors Fund
•
LVIP American Balanced Allocation Fund
•
LVIP American Global Balanced Allocation Managed Risk Fund
•
LVIP American Global Growth Allocation Managed Risk Fund
•
LVIP American Growth Allocation Fund
•
LVIP American Income Allocation Fund
•
LVIP American Preservation Fund
The fixed account, if available, is only available for dollar cost averaging
As an alternative, to satisfy these Investment Requirements, you may allocate 100% of Account Value in accordance with the American Funds Asset Allocation Fund & American Funds U.S. Government/AAA-Rated Securities Fund, American Funds IS TRICAP Moderate Growth Portfolio or American Funds IS TRICAP Global Moderate Growth Portfolio asset allocation model made available to you by your broker-dealer. If you terminate the asset allocation model, you must follow the Investment Requirements applicable to your rider. We may exclude an asset allocation model from being available for investment at any time, in our sole discretion. You will be notified prior to the date of such a change.
Investment Requirements for other Living Benefit Riders purchased on or after January 11, 2016 and prior to August 29, 2016 (October 3, 2016 for existing Contractowners). For i4LIFE® Advantage Guaranteed Income Benefit (version 4) elections on or after January 11, 2016 and prior to August 29, 2016 (October 3, 2016 for existing Contractowners), you must currently allocate your Contract Value or Account Value among one or more of the following Subaccounts. 
Group 1
Investments must be at least 30% of Contract
Value or Account Value
Group 2
Investments cannot exceed 70% of Contract
Value or Account Value
Group 3
Investments cannot exceed 10% of Contract
Value or Account Value
American Funds Capital World Bond Fund
American Funds Mortgage Fund
American Funds The Bond Fund of America
American Funds U.S. Government Securities
Fund
LVIP American Preservation Fund
American Funds Asset Allocation Fund
American Funds Capital Income Builder®
American Funds Capital World Growth and
Income Fund
American Funds Global Balanced Fund
American Funds Global Growth Fund
American Funds Global Growth PortfolioSM
American Funds Growth and Income PortfolioSM
American Funds Growth Fund
American Funds Growth-Income Fund
American Funds High-Income Trust
American Funds International Fund
American Funds International Growth and
Income Fund
American Funds Ultra-Short Bond Fund
American Funds Washington Mutual Investors
Fund
LVIP American Balanced Allocation Fund
LVIP American Growth Allocation Fund
LVIP American Income Allocation Fund
American Funds Global Small Capitalization Fund
American Funds New World Fund®
The fixed account is only available for dollar cost averaging.
As an alternative, to satisfy these Investment Requirements, you may allocate 100% of your Contract Value or i4LIFE® Advantage Account Value among the Subaccounts listed below. If you allocate less than 100% of Contract Value or i4LIFE® Advantage Account Value among these Subaccounts, then the Subaccounts listed below that are also listed in Group 1 will be subject to the Group 1 restrictions. Any remaining Subaccounts listed below that are not listed in Group 1 will fall into Group 2 and be subject to Group 2 restrictions.
•
American Funds Asset Allocation Fund
•
American Funds Capital World Bond Fund
•
American Funds Global Balanced Fund
•
American Funds Mortgage Fund
B-5
•
American Funds The Bond Fund of America
•
American Funds U.S. Government Securities Fund
•
LVIP American Balanced Allocation Fund
•
LVIP American Growth Allocation Fund
•
LVIP American Income Allocation Fund
•
LVIP American Preservation Fund
The fixed account, if available, is only available for dollar cost averaging.
Investment Requirements for other Living Benefit Riders elected prior to January 11, 2016. If you elected a Living Benefit Rider other than Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk), i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) or 4LATER® Advantage (Managed Risk), prior to January 11, 2016, you must currently allocate your Contract Value or i4LIFE® Advantage Account Value among one or more of the following Subaccounts. 
Group 1
Investments must be at least 30% of Contract
Value or Account Value
Group 2
Investments cannot exceed 70% of Contract
Value or Account Value
Group 3
Investments cannot exceed 10% of Contract
Value or Account Value
American Funds Capital World Bond Fund
American Funds Mortgage Fund
American Funds The Bond Fund of America
American Funds U.S. Government Securities
Fund
LVIP American Preservation Fund
All other Subaccounts, except as described
below.
No Subaccounts at this time.
The fixed account, if available, is only available for dollar cost averaging.
As an alternative, to satisfy these Investment Requirements, you may allocate 100% of your Contract Value or i4LIFE® Advantage Account Value among the Subaccounts listed below. If you allocate less than 100% of Contract Value or i4LIFE® Advantage Account Value among these Subaccounts, then the Subaccounts listed below that are also listed in Group 1 will be subject to the Group 1 restrictions. Any remaining Subaccounts listed below that are not listed in Group 1 will fall into Group 2 and be subject to Group 2 restrictions.
•
American Funds Asset Allocation Fund
•
American Funds Capital World Bond Fund
•
American Funds Global Balanced Fund
•
American Funds Managed Risk Asset Allocation Fund
•
American Funds Managed Risk Global Allocation PortfolioSM
•
American Funds Managed Risk Growth and Income PortfolioSM
•
American Funds Managed Risk Growth PortfolioSM
•
American Funds Mortgage Fund
•
American Funds The Bond Fund of America
•
American Funds U.S. Government Securities Fund
•
LVIP American Balanced Allocation Fund
•
LVIP American Global Balanced Allocation Managed Risk Fund
•
LVIP American Global Growth Allocation Managed Risk Fund
•
LVIP American Growth Allocation Fund
•
LVIP American Income Allocation Fund
•
LVIP American Preservation Fund
B-6
 
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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. 333-171097; 811-08441
EDGAR Contract Identifier C000097756