0000837274 2025-12-31 2025-12-31 0000837274 ftvipt:S000007326Member 2025-12-31 2025-12-31 0000837274 ftvipt:S000007327Member 2025-12-31 2025-12-31 false 2025-12-31 497 0000837274 N-1A <div style="margin-top:6pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">SUPPLEMENT DATED OCTOBER 21, 2026 </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">TO THE SUMMARY PROSPECTUSES, PROSPECTUSES </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">AND STATEMENTS OF ADDITIONAL INFORMATION (SAI) </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">OF EACH FRANKLIN TEMPLETON FUND </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">LISTED IN <span style="text-decoration:underline">SCHEDULE A</span> </div><div style="margin-top:12pt;margin-bottom:0pt;font-size:10pt;font-family:arial;">Each Fund is adopting changes to its name and certain investment policies as described below. The adoption of these changes does not reflect a change in the investment objective or investment focus of the Funds, or the principal risks of investing in the Funds. More detail about these and related changes to each Fund’s summary prospectus, prospectus and SAI are described below. </div> <table cellpadding="0" cellspacing="0" id="table656781" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside:avoid"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"><span style="font-weight:bold"></span>1)<span style="font-weight:bold"></span></td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:arial;font-weight:bold;text-align:left;">Effective May 1, 2027, Franklin Growth and Income VIP Fund’s name will be changed to “Franklin Equity Income VIP Fund.” Therefore, all references in the summary prospectus, prospectus and SAI to “Franklin Growth and Income VIP Fund” will be replaced with “Franklin Equity Income VIP Fund” on that date. </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" id="table129522" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside:avoid"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"><span style="font-weight:bold"></span>2)<span style="font-weight:bold"></span></td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:arial;font-weight:bold;text-align:left;">Effective May 1, 2027, Templeton Growth VIP Fund’s name will be changed to “Templeton Global Equity VIP Fund.” Therefore, all references in the summary prospectus, prospectus and SAI to “Templeton Growth VIP Fund” will be replaced with “Templeton Global Equity VIP Fund” on that date. </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" id="table574669" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside:avoid"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"><span style="font-weight:bold"></span>3)<span style="font-weight:bold"></span></td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:arial;font-weight:bold;text-align:left;">Effective May 1, 2027, the following is added to the Franklin Growth and Income VIP Fund’s principal investment strategies in the Fund’s Summary Prospectus and Prospectus: </div> </td> </tr> </table><div style="margin-top:6pt;margin-bottom:0pt;margin-left:4%;font-size:10pt;font-family:arial;">Under normal circumstances, the Fund invests at least 80% of its net assets in the equity securities of companies located anywhere in the world, including developing markets. </div> <table cellpadding="0" cellspacing="0" id="table116263" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside:avoid"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"><span style="font-weight:bold"></span>4)<span style="font-weight:bold"></span></td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:arial;font-weight:bold;text-align:left;">Effective May 1, 2027, the following is added to the Templeton Growth VIP Fund’s principal investment strategies in the Fund’s Summary Prospectus and Prospectus: </div> </td> </tr> </table><div style="margin-top:6pt;margin-bottom:0pt;margin-left:4%;font-size:10pt;font-family:arial;">Under normal circumstances, the Fund invests at least 80% of its net assets in the equity securities of companies located anywhere in the world, including developing markets. </div> <table cellpadding="0" cellspacing="0" id="table920974" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside:avoid"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"><span style="font-weight:bold"></span>5)<span style="font-weight:bold"></span></td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:arial;font-weight:bold;text-align:left;">Effective May 1, 2027, the following is added to Templeton Growth VIP Fund’s principal investment strategies in the Fund’s Summary Prospectus and Prospectus: </div> </td> </tr> </table><div style="margin-top:6pt;margin-bottom:0pt;margin-left:4%;font-size:10pt;font-family:arial;">Under normal market conditions the Fund expects to invest in foreign securities (including emerging markets securities) in an amount equal to at </div><div style="margin-top:0pt;margin-bottom:0pt;margin-left:4%;font-size:10pt;font-family:arial;"> least the lesser of: (a) 40% of its net assets; or (b) the percentage of foreign issuers represented in the MSCI All Country World Index‑NR minus 5%. </div><div style="margin-top:18pt;margin-bottom:0pt;font-size:10pt;font-family:arial;font-weight:bold;"><span style="text-decoration:underline">SCHEDULE A </span></div> <table cellpadding="0" cellspacing="0" id="table403040" style="border-collapse: collapse; font-family: arial; font-size: 10pt; width: 100%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 66%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 2%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="width: 33%; padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:10pt"> <td style="vertical-align: bottom;"> <span style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.00pt solid #000000;display:table-cell;font-size:10pt;font-family:arial;font-weight:bold">Fund</span></td> <td style="vertical-align:bottom;">  </td> <td style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"> <div style="margin-top:0pt;margin-bottom:1pt;font-size:10pt;font-family:arial;font-weight:bold;text-align:center;">Date of Summary<br/>Prospectus, Prospectus<br/>and SAI</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" class="tableHighlight" id="table386737" style="border-collapse: collapse; font-family: arial; font-size: 10pt; width: 100%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 66%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 2%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="width: 33%; padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 66%;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:arial;font-weight:bold;"><span style="text-decoration:underline">FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST</span></div> </td> <td style="vertical-align: bottom; width: 2%;">  </td> <td style="vertical-align: bottom; width: 33%;"></td> </tr> </table> <table cellpadding="0" cellspacing="0" class="tableHighlight" id="table466299" style="border-collapse: collapse; font-family: arial; font-size: 10pt; width: 100%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 66%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 2%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="width: 33%; padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="font-size:1pt"> <td style="height: 1.5pt; width: 66%;"></td> <td colspan="2" style="height: 1.5pt; width: 233%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:10pt"> <td style="vertical-align: top; width: 66%;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:arial;">Franklin Growth and Income VIP Fund</div> </td> <td style="vertical-align: bottom; width: 2%;">  </td> <td style="vertical-align: bottom; text-align: center; width: 33%;">May 1, 2026</td> </tr> </table> <table cellpadding="0" cellspacing="0" class="tableHighlight" id="table682886" style="border-collapse: collapse; font-family: arial; font-size: 10pt; width: 100%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 66%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 2%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="width: 33%; padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 66%;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:arial;">Templeton Growth VIP Fund</div> </td> <td style="vertical-align: bottom; width: 2%;">  </td> <td style="vertical-align: bottom; text-align: center; width: 33%;">May 1, 2026</td> </tr> </table> <div style="margin-top:6pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">SUPPLEMENT DATED OCTOBER 21, 2026 </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">TO THE SUMMARY PROSPECTUSES, PROSPECTUSES </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">AND STATEMENTS OF ADDITIONAL INFORMATION (SAI) </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">OF EACH FRANKLIN TEMPLETON FUND </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">LISTED IN <span style="text-decoration:underline">SCHEDULE A</span> </div><div style="margin-top:12pt;margin-bottom:0pt;font-size:10pt;font-family:arial;">Each Fund is adopting changes to its name and certain investment policies as described below. The adoption of these changes does not reflect a change in the investment objective or investment focus of the Funds, or the principal risks of investing in the Funds. More detail about these and related changes to each Fund’s summary prospectus, prospectus and SAI are described below. </div> <table cellpadding="0" cellspacing="0" id="table129522" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside:avoid"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"><span style="font-weight:bold"></span>2)<span style="font-weight:bold"></span></td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:arial;font-weight:bold;text-align:left;">Effective May 1, 2027, Templeton Growth VIP Fund’s name will be changed to “Templeton Global Equity VIP Fund.” Therefore, all references in the summary prospectus, prospectus and SAI to “Templeton Growth VIP Fund” will be replaced with “Templeton Global Equity VIP Fund” on that date. </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" id="table116263" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside:avoid"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"><span style="font-weight:bold"></span>4)<span style="font-weight:bold"></span></td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:arial;font-weight:bold;text-align:left;">Effective May 1, 2027, the following is added to the Templeton Growth VIP Fund’s principal investment strategies in the Fund’s Summary Prospectus and Prospectus: </div> </td> </tr> </table><div style="margin-top:6pt;margin-bottom:0pt;margin-left:4%;font-size:10pt;font-family:arial;">Under normal circumstances, the Fund invests at least 80% of its net assets in the equity securities of companies located anywhere in the world, including developing markets. </div> <table cellpadding="0" cellspacing="0" id="table920974" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside:avoid"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"><span style="font-weight:bold"></span>5)<span style="font-weight:bold"></span></td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:arial;font-weight:bold;text-align:left;">Effective May 1, 2027, the following is added to Templeton Growth VIP Fund’s principal investment strategies in the Fund’s Summary Prospectus and Prospectus: </div> </td> </tr> </table><div style="margin-top:6pt;margin-bottom:0pt;margin-left:4%;font-size:10pt;font-family:arial;">Under normal market conditions the Fund expects to invest in foreign securities (including emerging markets securities) in an amount equal to at </div><div style="margin-top:0pt;margin-bottom:0pt;margin-left:4%;font-size:10pt;font-family:arial;"> least the lesser of: (a) 40% of its net assets; or (b) the percentage of foreign issuers represented in the MSCI All Country World Index‑NR minus 5%. </div><div style="margin-top:18pt;margin-bottom:0pt;font-size:10pt;font-family:arial;font-weight:bold;"><span style="text-decoration:underline">SCHEDULE A </span></div> <table cellpadding="0" cellspacing="0" id="table403040" style="border-collapse: collapse; font-family: arial; font-size: 10pt; width: 100%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 66%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 2%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="width: 33%; padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:10pt"> <td style="vertical-align: bottom;"> <span style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.00pt solid #000000;display:table-cell;font-size:10pt;font-family:arial;font-weight:bold">Fund</span></td> <td style="vertical-align:bottom;">  </td> <td style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"> <div style="margin-top:0pt;margin-bottom:1pt;font-size:10pt;font-family:arial;font-weight:bold;text-align:center;">Date of Summary<br/>Prospectus, Prospectus<br/>and SAI</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" class="tableHighlight" id="table386737" style="border-collapse: collapse; font-family: arial; font-size: 10pt; width: 100%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 66%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 2%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="width: 33%; padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 66%;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:arial;font-weight:bold;"><span style="text-decoration:underline">FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST</span></div> </td> <td style="vertical-align: bottom; width: 2%;">  </td> <td style="vertical-align: bottom; width: 33%;"></td> </tr> </table> <table cellpadding="0" cellspacing="0" class="tableHighlight" id="table682886" style="border-collapse: collapse; font-family: arial; font-size: 10pt; width: 100%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 66%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 2%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="width: 33%; padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 66%;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:arial;">Templeton Growth VIP Fund</div> </td> <td style="vertical-align: bottom; width: 2%;">  </td> <td style="vertical-align: bottom; text-align: center; width: 33%;">May 1, 2026</td> </tr> </table> <div style="margin-top:6pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">SUPPLEMENT DATED OCTOBER 21, 2026 </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">TO THE SUMMARY PROSPECTUSES, PROSPECTUSES </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">AND STATEMENTS OF ADDITIONAL INFORMATION (SAI) </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">OF EACH FRANKLIN TEMPLETON FUND </div><div style="margin-top:0pt;margin-bottom:0pt;font-size:11pt;font-family:arial;font-weight:bold;">LISTED IN <span style="text-decoration:underline">SCHEDULE A</span> </div><div style="margin-top:12pt;margin-bottom:0pt;font-size:10pt;font-family:arial;">Each Fund is adopting changes to its name and certain investment policies as described below. The adoption of these changes does not reflect a change in the investment objective or investment focus of the Funds, or the principal risks of investing in the Funds. More detail about these and related changes to each Fund’s summary prospectus, prospectus and SAI are described below. </div> <table cellpadding="0" cellspacing="0" id="table656781" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside:avoid"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"><span style="font-weight:bold"></span>1)<span style="font-weight:bold"></span></td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:arial;font-weight:bold;text-align:left;">Effective May 1, 2027, Franklin Growth and Income VIP Fund’s name will be changed to “Franklin Equity Income VIP Fund.” Therefore, all references in the summary prospectus, prospectus and SAI to “Franklin Growth and Income VIP Fund” will be replaced with “Franklin Equity Income VIP Fund” on that date. </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" id="table574669" style="border-collapse: collapse; font-family: arial; font-size: 10pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside:avoid"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"><span style="font-weight:bold"></span>3)<span style="font-weight:bold"></span></td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:arial;font-weight:bold;text-align:left;">Effective May 1, 2027, the following is added to the Franklin Growth and Income VIP Fund’s principal investment strategies in the Fund’s Summary Prospectus and Prospectus: </div> </td> </tr> </table><div style="margin-top:6pt;margin-bottom:0pt;margin-left:4%;font-size:10pt;font-family:arial;">Under normal circumstances, the Fund invests at least 80% of its net assets in the equity securities of companies located anywhere in the world, including developing markets. </div><div style="margin-top:18pt;margin-bottom:0pt;font-size:10pt;font-family:arial;font-weight:bold;"><span style="text-decoration:underline">SCHEDULE A </span></div> <table cellpadding="0" cellspacing="0" id="table403040" style="border-collapse: collapse; font-family: arial; font-size: 10pt; width: 100%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 66%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 2%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="width: 33%; padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:10pt"> <td style="vertical-align: bottom;"> <span style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.00pt solid #000000;display:table-cell;font-size:10pt;font-family:arial;font-weight:bold">Fund</span></td> <td style="vertical-align:bottom;">  </td> <td style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"> <div style="margin-top:0pt;margin-bottom:1pt;font-size:10pt;font-family:arial;font-weight:bold;text-align:center;">Date of Summary<br/>Prospectus, Prospectus<br/>and SAI</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" class="tableHighlight" id="table386737" style="border-collapse: collapse; font-family: arial; font-size: 10pt; width: 100%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 66%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 2%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="width: 33%; padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 66%;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:arial;font-weight:bold;"><span style="text-decoration:underline">FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST</span></div> </td> <td style="vertical-align: bottom; width: 2%;">  </td> <td style="vertical-align: bottom; width: 33%;"></td> </tr> </table> <table cellpadding="0" cellspacing="0" class="tableHighlight" id="table466299" style="border-collapse: collapse; font-family: arial; font-size: 10pt; width: 100%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 66%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 2%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="width: 33%; padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="font-size:1pt"> <td style="height: 1.5pt; width: 66%;"></td> <td colspan="2" style="height: 1.5pt; width: 233%;"></td> </tr> <tr style="page-break-inside:avoid;font-family:arial;font-size:10pt"> <td style="vertical-align: top; width: 66%;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:arial;">Franklin Growth and Income VIP Fund</div> </td> <td style="vertical-align: bottom; width: 2%;">  </td> <td style="vertical-align: bottom; text-align: center; width: 33%;">May 1, 2026</td> </tr> </table> FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST 2026-05-01