|
FEES AND EXPENSES |
Location In The
Prospectus | ||
Charges for
Early
Withdrawals |
If you withdraw money from your Contract within 7 years following your
last Purchase Payment, you will be assessed a withdrawal charge of up to
6.0% (as a percentage of Purchase Payments withdrawn), declining to 0%
over that time period.
For example, if you make a withdrawal, you could pay a withdrawal charge
of up to $6,000 on a $100,000 investment. |
Fee Table –
Transaction
Expenses
Withdrawals,
Withdrawals
Charges, and
Market Value
Adjustment | ||
Transaction
Charges |
In addition to charges for withdrawals, you may also be charged for
other transactions. There may be taxes on Purchase Payments and charges for
transfers between investment options. Currently, we do not charge for
transfers. However, we reserve the right to charge $15
per transfer. |
Fee Table -
Transaction
Expenses
Transfer Privilege
Contract Charges | ||
Ongoing Fees
and Expenses
(annual charges) |
The table below describes the fees and expenses that you may pay
each year, depending on the investment options and 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 Table -
Transaction
Expenses
Contract Charges Benefits Available Under the Contract Appendix A – Funds Available
Under the
Contract | ||
Annual Fee |
Minimum |
Maximum | ||
Base contract |
1.40%1 |
1.40%1 | ||
Investment Options
(Fund fees and expenses) |
0.44%2 |
1.50%2 | ||
1.As a percentage of average daily net
Variable Account assets.
2.As a percentage of Fund net assets. 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 eachyear, based on current charges. This estimate
assumes that you do not take withdrawals from the Contract, which could add withdrawal charges that substantially increase costs. | ||||
|
Lowest Annual Cost:
$1,745 |
Highest Annual Cost:
$2,557 |
| |
Assumes:
•Investment of $100,000 •5% annual appreciation
•Least expensive Fund fees and expenses •No sales charges
•No additional Purchase Payments, transfers or withdrawals |
Assumes:
•Investment of $100,000 •5% annual appreciation
•Most expensive Fund fees and expenses •No sales charges
•No additional Purchase
Payments, transfers or withdrawals | |||
|
RISKS |
Location In The
Prospectus | ||
Risk of Loss |
You can lose money by investing in the Contract. |
Principal Risks of Investing in the Contract Transfer Privilege
|
|
RISKS (CONT.) |
Location In The
Prospectus | ||
Not a
Short-Term
Investment |
•The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. •The benefits of tax deferral, long-term income and living
benefit guarantees mean the Contract is generally more beneficial to investors
with a long-term horizon. You should not use the Contract as a short-term
investment.
•Withdrawal charges may apply to withdrawals taken within 7 years after a
Purchase Payment. If you take a withdrawal, a withdrawal charge may reduce the withdrawal amount that you actually receive and the value of
your investment. Withdrawals may also reduce or terminate Contract
guarantees.
•Withdrawals may be subject to taxes, including a 10% federal tax penalty
if you take a withdrawal before age 59 1∕2. |
Principal Risks of
Investing in the
Contract
Withdrawals,
Withdrawals
Charges, and
Market Value
Adjustment
Tax
Considerations | ||
Risks Associated
with Investment
Options |
•An investment in the Contract is subject to the risk of poor investment performance and can vary depending on the performance of the investment options available under the Contract (e.g., the Funds). •Each investment option (including any Fixed Account investment option)
will have its own unique risks.
•You should review the investment options before making an investment
decision. |
Principal Risks of
Investing in the
Contract
The Variable Account | ||
Insurance
Company Risks |
An investment in the Contract is subject to the risks related to the Company.
Any obligations (including under any Fixed Account investment options),
guarantees, or benefits are subject to the claims-paying ability of the
Company. Additional information about the Company, including its financial strength ratings, is available upon request by calling (877) 253-2323 or visiting https://www.delawarelife.com/contact-us/contact-page.
|
Principal Risks of
Investing in the
Contract
The Variable Account The Fixed
Account | ||
|
RESTRICTIONS |
Location In The
Prospectus | ||
Investments |
•Certain investment options may not be available under the contract.
•You are allowed to make 12 transfers between investment options per
Account Year. We reserve the right to charge $15 per transfer. At least 6 days must elapse between transfers. Your transfers between
Fund options
are subject to policies designed to deter frequent transfers. These
transfer restrictions do not apply to transfers under the
Contract’s automatic
programs.
•We reserve the right to remove or substitute Funds as investment options. |
The Variable Account
Options: The
Trusts
The Fixed Account
Transfer Privilege
Appendix A:
Funds Available Under the Contract | ||
Optional
Benefits |
N/A |
|
|
TAXES |
Location In The
Prospectus | ||
Tax Implications |
•You should consult with a tax professional to determine the tax
implications of an investment in and payments received under the
Contract. •There is no additional tax benefit if you purchase the
Contract through a
tax-qualified plan or an individual retirement account
(IRA). •Earnings under your Contract are taxed at ordinary income rates when withdrawn. You may be subject to a 10% federal tax penalty if you take a
withdrawal before age 59 1∕2. |
Tax
Considerations | ||
|
CONFLICTS OF INTEREST |
Location In The
Prospectus | ||
Investment
Professional
Compensation |
Your investment professional may receive compensation for selling the
Contract to you, including commissions, other cash compensation, and non-cash compensation. We may share the revenue we earn on this Contract with your investment professional’s firm. As a result of these compensation
arrangements, your investment professional may have a financial
incentive to offer or recommend this Contract to you over another investment for
which the investment professional is not compensated or compensated
less. |
Distribution of the Contracts | ||
Exchanges |
Some investment professionals may have a financial incentive to offer
you a new contract in place of the one you already own.
You should only exchange a contract you already own 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. |
Type |
Fund |
Adviser/Subadviser |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/23) | ||
1 Year |
5 Year |
10 Year | ||||
Equity - US Large Cap
Blend |
MFS® Variable Insurance Trust
II MFS®
Blended Research® Core Equity Portfolio Initial Class |
Massachusetts Financial
Services Company |
0.43%1 |
28.53% |
15.81% |
11.10% |
Equity - US Large Cap
Blend |
MFS® Variable Insurance Trust
II MFS®
Core Equity Portfolio Initial
Class |
Massachusetts Financial
Services Company |
0.81%1 |
23.14% |
15.08% |
11.61% |
Fixed Income - US |
MFS® Variable Insurance Trust
II MFS®
Corporate Bond Portfolio Initial
Class |
Massachusetts Financial
Services Company |
0.63%1 |
9.11% |
2.67% |
2.81% |
Equity - Global
Emerging Markets |
MFS® Variable Insurance Trust
II MFS®
Emerging Markets Equity
Portfolio
Initial Class |
Massachusetts Financial
Services Company |
1.23%1 |
10.90% |
2.04% |
1.56% |
Fixed Income - Global |
MFS® Variable Insurance Trust
II MFS®
Global Governments Portfolio Initial
Class |
Massachusetts Financial
Services Company |
0.69%1 |
2.32% |
-1.66% |
-0.54% |
Equity - Global Large
Cap |
MFS® Variable Insurance Trust
II MFS®
Global Growth Portfolio Initial
Class |
Massachusetts Financial
Services Company |
0.88%1 |
20.99% |
13.76% |
10.07% |
Equity - Global Large
Cap |
MFS® Variable Insurance Trust
II MFS®
Global Research Portfolio Initial
Class |
Massachusetts Financial
Services Company |
0.85%1 |
19.28% |
12.34% |
8.17% |
Allocation - Cautious |
MFS® Variable Insurance Trust
II MFS®
Global Tactical Allocation Portfolio
Initial Class |
Massachusetts Financial
Services Company |
0.83%1 |
9.63% |
4.94% |
3.87% |
Fixed Income - US |
MFS® Variable Insurance Trust
II MFS®
Government Securities Portfolio Initial
Class |
Massachusetts Financial
Services Company |
0.58%1 |
4.15% |
0.32% |
1.06% |
Equity - US Large Cap
Growth |
MFS® Variable Insurance
Trust MFS®
Growth Series Initial Class
|
Massachusetts Financial
Services Company |
0.73%1 |
35.86% |
15.89% |
12.97% |
Fixed Income - US |
MFS® Variable Insurance Trust
II MFS®
High Yield Portfolio Initial
Class |
Massachusetts Financial
Services Company |
0.72%1 |
12.41% |
4.66% |
3.82% |
Fixed Income - US |
MFS® Variable Insurance Trust
II MFS® Income Portfolio Initial Class |
Massachusetts Financial
Services Company |
0.67%1 |
7.59% |
2.62% |
2.66% |
Equity - Global Large
Cap |
MFS® Variable Insurance Trust
II MFS®
International Growth Portfolio Initial
Class |
Massachusetts Financial
Services Company |
0.88%1 |
14.72% |
9.47% |
6.36% |
Type |
Fund |
Adviser/Subadviser |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/23) | ||
1 Year |
5 Year |
10 Year | ||||
Equity - Global Large
Cap |
MFS® Variable Insurance Trust
II MFS®
International Intrinsic Value
Portfolio
Initial Class |
Massachusetts Financial
Services Company |
0.89%1 |
17.66% |
8.58% |
6.92% |
Equity - US Large Cap
Growth |
MFS® Variable Insurance Trust
II MFS®
Massachusetts Investors Growth Stock
Portfolio Initial Class
|
Massachusetts Financial
Services Company |
0.73%1 |
24.01% |
16.68% |
12.71% |
Equity - US Mid Cap |
MFS® Variable Insurance
Trust MFS®
Mid Cap Growth Series Initial
Class |
Massachusetts Financial
Services Company |
0.80%1 |
21.32% |
13.31% |
11.12% |
Equity - US Small Cap |
MFS® Variable Insurance
Trust MFS®
New Discovery Series Initial
Class |
Massachusetts Financial
Services Company |
0.87%1 |
14.41% |
11.08% |
7.67% |
Equity - Global Large
Cap |
MFS® Variable Insurance Trust
II MFS®
Research International Portfolio Initial
Class |
Massachusetts Financial
Services Company |
0.89%1 |
13.01% |
8.49% |
4.15% |
Equity - Technology
Sector |
MFS® Variable Insurance Trust
II MFS®
Technology Portfolio Initial
Class |
Massachusetts Financial
Services Company |
0.85%1 |
54.23% |
17.65% |
15.56% |
Allocation - Moderate |
MFS® Variable Insurance
Trust MFS®
Total Return Series Initial
Class |
Massachusetts Financial
Services Company |
0.61%1 |
10.44% |
8.54% |
6.53% |
US Money Market |
MFS® Variable Insurance Trust
II MFS®
U.S. Government Money Market
Portfolio
Initial Class2 |
Massachusetts Financial
Services Company |
0.44%1 |
4.58% |
1.51% |
0.91% |
Equity - Utilities
Sector |
MFS® Variable Insurance
Trust MFS®
Utilities Series Initial
Class |
Massachusetts Financial
Services Company |
0.79%1 |
-2.11% |
8.31% |
6.39% |
Equity - US Large Cap
Value |
MFS® Variable Insurance
Trust MFS®
Value Series Initial Class
|
Massachusetts Financial
Services Company |
0.69%1 |
7.93% |
11.34% |
8.52% |