# EDGAR Filing Document

**Accession Number:** 0001022095
**File Stem:** 0001104659-26-044336
**Filing Date:** 2026-4
**Character Count:** 963373
**Document Hash:** 8302664aaa34cea51fb143a815cfb88c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-044336.hdr.sgml**: 20260416

**ACCESSION NUMBER**: 0001104659-26-044336

**CONFORMED SUBMISSION TYPE**: N-4/A

**PUBLIC DOCUMENT COUNT**: 78

**CONFORMED PERIOD OF REPORT**: 20260416

**FILED AS OF DATE**: 20260416

**DATE AS OF CHANGE**: 20260416

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LINCOLN LIFE & ANNUITY CO OF NEW YORK
- **CENTRAL INDEX KEY:** 0001022095

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** N-4/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-283685
- **FILM NUMBER:** 26867308

**BUSINESS ADDRESS:**
- **STREET 1:** 120 MADISON STREET
- **STREET 2:** SUITE 1310
- **CITY:** SYRACUSE
- **STATE:** NY
- **ZIP:** 13202
- **BUSINESS PHONE:** 888-223-1860

**MAIL ADDRESS:**
- **STREET 1:** 120 MADISON STREET
- **STREET 2:** SUITE 1310
- **CITY:** SYRACUSE
- **STATE:** NY
- **ZIP:** 13202

## Series and Classes Contracts Data

### LINCOLN LIFE & ANNUITY CO OF NEW YORK (Series ID: S000090523)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000257789 | Lincoln Level Advantage 2 B-Share  |  |
| C000257790 | Lincoln Level Advantage 2 Advisory |  |

?xml version='1.0' encoding='ASCII'? EDGAR HTML

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

As filed with the Securities and Exchange Commission on April 16, 2026

1933 Act Registration No. 333-283685

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-4

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

PRE-EFFECTIVE AMENDMENT NO. 1

*Lincoln Level Advantage 2*<sup>®</sup> B-Share

*Lincoln Level Advantage 2*<sup>®</sup> Advisory

LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK

(Name of Insurance Company)

120 Madison Street, Suite 1310

Syracuse, New York 13202

(Address of Insurance Company's Principal Executive Offices)

(315) 428-8400

(Insurance Company's Telephone Number, Including Area Code)

Sarah Sheldon, Esquire

Lincoln Life & Annuity Company of New York

120 Madison Street, Suite 1310

Syracuse, New York 13202

(Name and Address of Agent for Service)

Copy to:

Nadine Rosin, Esquire

Lincoln Life & Annuity Company of New York

120 Madison Street, Suite 1310

Syracuse, New York 13202

Approximate Date of Proposed Public Offering: As soon as practicable after the effective date of this Registration Statement.

Check each box that appropriately characterizes the Registrant:

☐ New Registrant (as applicable, a Registered Separate Account or Insurance Company that has not filed a Securities Act registration statement or amendment thereto within 3 years preceding this filing)

☐ Emerging Growth Company (as defined by Rule 12b-2 under the Securities Exchange Act of 1934 ("Exchange Act"))

☐ If an Emerging Growth Company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act

☒ Insurance Company relying on Rule 12h-7 under the Exchange Act

☐ Smaller reporting company (as defined by Rule 12b-2 under the Exchange Act)

The Registrant hereby amends this Registration Statement on such date or dates as necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a) shall determine.

------

Prospectus 1

***Lincoln Level Advantage* 2**<sup>®</sup> **B-Share Index-Linked Annuity Contracts** 

May 8, 2026

Home Office:

Lincoln Life & Annuity Company of New York

120 Madison Street, Suite 1310

Syracuse, NY 13202

www.LincolnFinancial.com

Servicing Office:

Lincoln Life & Annuity Company of New York

PO Box 2348

Fort Wayne, IN 46801-2348

1-877-737-6872

This prospectus describes an individual single premium index-linked deferred annuity contract issued by Lincoln Life & Annuity Company of New York (Lincoln New York or Company).

This Contract can be purchased as either a nonqualified annuity or qualified retirement annuity under Section 408 (IRAs) or 408A (Roth IRAs) of the tax code. Generally, you do not pay federal income tax on the Contract's growth until it is paid out. You receive tax deferral for an IRA whether or not the funds are invested in an annuity contract. Further, if your Contract is a Roth IRA, you generally will not pay income tax on a distribution, provided certain conditions are met. Therefore, there should be reasons other than tax deferral for purchasing a qualified annuity contract. We offer other types of annuity contracts that may offer different investment options, features, and optional benefits. You should carefully consider whether or not this Contract is the best product for you.

**This Contract is a complex investment and involves risks, including potential loss of principal.** 

The Contract is designed to accumulate Contract Value and to provide retirement income over a certain period of time or for life subject to certain conditions. The Contract offers several Indexed Accounts which provide a rate of return based in part on the performance of an Index you select. This Contract also offers a Death Benefit payable upon the death of the Contractowner or Annuitant. This prospectus is used by both new purchasers and current Contractowners and describes all material rights and obligations of annuity purchasers under the Contract. The Contract described in this prospectus is only available in New York. The availability of investment options, Contract benefits, or other Contract features described in this prospectus may vary depending on the broker-dealer/financial intermediary through which the Contract is sold. See Appendix C — Broker-Dealer Material Variations for additional information.

The availability of Indexed Accounts, Contract benefits, or other Contract features described in this prospectus may vary depending on the broker-dealer/financial intermediary through which the Contract is sold. See Appendix C — Broker-Dealer Material Variations for additional information.

**If you are a new investor in the Contract, you may cancel your Contract within ten days of receiving it without paying fees or penalties although any Contract Adjustments will be applied. This free-look or cancellation period may be longer if you are replacing an existing contract. Upon cancellation, you will receive the greater of a full refund of the amount you paid with your application or your total Contract Value, less any withdrawals. You should review this prospectus and consult with your registered representative for additional information about the specific cancellation terms that may apply.** 

The minimum Purchase Payment for the Contract is $25,000. No Purchase Payments will be accepted after the date the Contract is issued. Accordingly, you will be unable to increase your Contract Value or Death Benefit by making subsequent Purchase Payments. The minimum allocation to an Indexed Account is $2,000 and you can only reallocate Contract Value to an Indexed Account on an Indexed Anniversary Date.

You may invest in one or more of the available Indexed Accounts, subject to any limitations described herein. See Appendix A – Investment Options Available Under The Contract. Indexed Accounts are established for either 1-Year or 6-Year Terms, and the return on these accounts at the end of the Indexed Term is based in part on the performance of a specified Index. Each Indexed Account will have either (i) a specified Performance Cap, which is the highest Performance Rate that we will credit; (ii) a Performance Trigger Rate that provides a specified rate of return if the performance of the Index is zero or positive; (iii) a Dual Performance Trigger Rate, which will either provide a specific rate of return if the performance of the Index is positive, zero or negative within the Protection Level or be added to the Index performance percentage and the Protection Level if the Index performance is negative and beyond the Protection Level; or (iv) a Dual Rate, which will provide either a minimum rate of return if the Index performance is between zero and the Dual Rate, or will be added to the Index performance if the Index performance is negative, and a Performance Cap that applies if the Index performance exceeds the Dual Rate. **We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset** 

------

**Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%. The amount of gain credited for each Indexed Segment at the end of an Indexed Term will be limited by the Performance Cap, Performance Trigger Rate or Dual Performance Trigger Rate we declare. We guarantee a minimum declared crediting rate for each Indexed Account. See Appendix A – Investment Options Available Under The Contract for the guaranteed minimum declared crediting rates for each Indexed Account.** 

The amount of loss from negative Index performance for each Indexed Segment at the end of an Indexed Term is limited by the Protection Level or the Dual Rate for that Segment. **Your Contract Value will not be impacted by any loss up to the applicable Protection Level or Dual Rate that you choose if you do not make withdrawals during the Indexed Term. Under extreme circumstances, you could lose up to 90% of your investment in an Indexed Account with a 10% Protection Level or a 10% Dual Rate, up to 85% of your investment in an Indexed Account with a 15% Protection Level or a 15% Dual Rate, up to 80% of your investment in an Indexed Account with a 20% Protection Level, and up to 75% of your investment in an Indexed Account with a 25% Protection Level. This potential of loss exists for each Indexed Term, and over the life of the Contract which could be much greater. We do not guarantee that the Contract will always offer Indexed Accounts that limit Index losses, in which case you could lose the entire amount of your investment.** 

**This Contract is not designed for short-term investing and is not appropriate for the investor who needs ready access to cash. Withdrawals could result in surrender charges, negative Contract Adjustments, taxes, and tax penalties.** Your risk of loss may be greater if you make a withdrawal prior to the End Date of an Indexed Term because a negative Contract Adjustment based on the Interim Value of the Indexed Segment may apply. The Interim Value for each Indexed Segment is calculated each Valuation Date prior to the End Date of the Indexed Term. The Interim Value calculation is not based on the value of the Index but the fair market value of the portfolio of investment instruments supporting the Indexed Segment. **Under extreme conditions a negative Contract Adjustment based on Interim Value could result in a loss of up to 100% of your Contract Value.** Such loss can occur even if an Index has increased in value. This means your Interim Value could reflect negative performance, even if the Index Value has increased.

If you withdraw Contract Value prior to the End Date of an Indexed Term, the withdrawal will cause an immediate reduction in your Indexed Crediting Base for each of your Segments in a proportion equal to the reduction in the Interim Value of each Segment. A proportional reduction could be larger than the dollar amount of your withdrawal. Reductions in your Indexed Crediting Base will negatively impact your Interim Value for the remainder of the Indexed Term and will result in a lower Segment Ending Value at the end of the Indexed Term. Once your Indexed Crediting Base is reduced due to a withdrawal during any Indexed Term, you cannot increase it during the remainder of the Indexed Term unless *Secure Lock*+<sup>®</sup> is exercised.

We hold all or a portion of the assets for our obligations for the Indexed Account options in a non-registered, non-insulated separate account, established by Us. **We do not guarantee how any of the Indexed Accounts will perform. There is a risk of loss of your investment because you agree to absorb all losses in excess of the level of protection you selected.** 

Investors should consult a registered representative about the Contract's features, benefits, risks, and fees, and whether the Contract is appropriate for the investor based upon your financial situation and objectives. We do not guarantee that all of the Indexed Account options will always be available. Our obligations under the Contract, including amounts to be paid to you from the Indexed Accounts, are subject to our financial strength and claims paying ability.

**Neither the U.S. Government nor any federal agency insures or guarantees your investment in the Contract. The Contracts are not bank deposits and are not endorsed by any bank or government agency.** 

**Additional information about certain investment products, including registered index-linked annuities, has been prepared by the SEC's staff and is available online at www.Investor.gov.**

**The Securities and Exchange Commission (SEC) has not approved or disapproved these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.** 

------

**Table of Contents** 

---

| | |
|:---|:---|
| Item | Page |
| [Special Terms](#xx_d97c0e1f-4986-4982-a5d5-c1857633035b_1) | 4 |
| [Overview of the Contract](#xx_4ced1092-72dd-4655-b29e-8ca1e4a931a4_1) | 6 |
| [Important Information You Should Consider About the](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_1)*[Lincoln Level Advantage](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_1)*[2](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_1)<sup>®</sup> [B-Share Index-linked Annuity Contract](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_1) | 9 |
| [Fee Tables](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_5) | 13 |
| [Principal Risks of Investing in the Contract](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_6) | 14 |
| [Indexed Accounts](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_9) | 17 |
| [Charges and Adjustments](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_25) | 33 |
| [The Contracts](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_27) | 35 |
| [Purchase Payment](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_27) | 35 |
| [Surrenders and Withdrawals](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_29) | 37 |
| [Benefits Available Under the Contract](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_30) | 38 |
| [Death Benefit](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_30) | 38 |
| [Annuity Payouts](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_33) | 41 |
| [Distribution of the Contracts](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_34) | 42 |
| [Federal Tax Matters](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_35) | 43 |
| [Additional Information](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_40) | 48 |
| [Voting Rights](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_40) | 48 |
| [Return Privilege](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_41) | 49 |
| [State Regulation](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_41) | 49 |
| [Reliance On Rule 12h-7](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_41) | 49 |
| [Appendix A — Investment Options Available Under The Contract](#xx_630ce91a-1542-4eb1-ba59-e36acec0ba0b_1) | A-1 |
| [Appendix B – Index Disclosures](#xx_36f0bde2-e07f-4082-89cb-b991526cb91a_1) | B-1 |

---

------

**Special Terms** 

In this prospectus, the following terms have the indicated meanings:

**Annual Locks**—An Indexed Account with Annual Locks is a multi-year account in which the performance is calculated on each Indexed Anniversary Date, but the performance is not credited to or deducted from the Indexed Segment until the End Date.

**Annuitant**—The person upon whose life the annuity benefit payments are based, and upon whose death a Death Benefit may be paid.

**Annuity Commencement Date**—The Valuation Date when payment of retirement income benefits begins under the Annuity Payout option you select.

**Annuity Payout**—A regularly scheduled payment (under any of the available annuity options) that occurs after the Annuity Commencement Date.

**Beneficiary**—The person you choose to receive any Death Benefit paid if you die before the Annuity Commencement Date.

**Contract**—The index-linked annuity contract you have entered into with Lincoln New York.

**Contract Adjustment**—A positive or negative adjustment to the Contract based on the Interim Value of an Indexed Segment.

**Contractowner** (you, your, owner)—The person who can exercise the rights within the Contract (decides on investment allocations, reallocations, payout option, designates the Beneficiary, etc.). Usually, but not always, the Contractowner is the Annuitant.

**Contract Value** (may be referred to as Account Value in marketing materials)—The sum of the current values of the Indexed Accounts (i.e. Interim Values if between the Start Date and the End Date of an Indexed Term).

**Contract Year**—Each 12-month period starting with the effective date of the Contract and starting with each contract anniversary after that.

**Crediting Method**—The method used in determining the Performance Rate for an Indexed Segment. There are several Crediting Methods including Performance Cap, Performance Trigger Rate, Dual Performance Trigger Rate, and Dual Plus.

**Death Benefit**—Before the Annuity Commencement Date, the amount payable to your designated Beneficiary if the Contractowner dies. As an alternative, the Contractowner may receive a Death Benefit upon the death of the Annuitant prior to the Annuity Commencement Date.

**Dual Performance Trigger Rate**—The rate used, in part, to determine the Performance Rate for an Indexed Segment at the end of the Indexed Term.

**Dual Rate**—The rate used, in part, to determine the Performance Rate for an Indexed Segment of a Dual Plus Indexed Account at the end of the Indexed Term.

**Dual Plus**—A Crediting Method that uses, in part, a Performance Cap and Dual Rate to determine the Performance Rate for an Indexed Segment at the end of the Indexed Term.

**End Date**—The last day of the Indexed Term.

**Good Order**—The actual receipt at our Servicing Office of the requested transaction in writing or by other means we accept, along with all information and supporting legal documentation necessary to complete the transaction. The forms we provide will identify the necessary documentation. We may, in our sole discretion, determine whether any particular transaction request is in Good Order, and we reserve the right to change or waive any Good Order requirements at any time.

**Index—**The market index of which the performance is used to base the return of an Indexed Account.

**Index Value**—The published closing value of an Index on a Valuation Date. If an Index Value is not published for a particular day, we will use the closing Index Value on the next Valuation Date it is published.

**Indexed Account**—An investment option that provides a return based, in part, on the performance of an Index.

**Indexed Anniversary Date**—The same calendar day, each calendar year, as the day you first invested in an Indexed Segment.

**Indexed Crediting Base or Crediting Base**—An amount used in the calculation of the performance return and the Interim Value for an Indexed Segment.

**Indexed Segment or Segment**—The specific Indexed Account option(s) selected by a Contractowner for allocations of the Purchase Payment or reallocation of Contract Value.

**Indexed Term or Term**—The period of time during which Contract Value is invested in a particular Indexed Segment.

**Interim Value**—Your Contract Value for an Indexed Segment during an Indexed Term. The Interim Value is a calculated value and is used in the event that a withdrawal, Death Benefit payment, reallocation, annuitization, or surrender occurs at any time other than the Start Date or End Date of an Indexed Term. The Interim Value is also used when *Secure Lock+*<sup>®</sup> is chosen.

**Lincoln New York** (we, us, our, Company)—Lincoln Life & Annuity Company of New York.

**Performance Cap or Cap**—The highest Performance Rate that can be credited to an Indexed Segment at the end of an Indexed Term for any positive Index performance.

**Performance Rate**—A rate of return for an Indexed Segment based on the performance of an Index over a specified period of time, adjusted for the applicable Protection Method and subject to the Crediting Method, depending on the Indexed Account you choose.

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**Performance Trigger Rate**— The rate used to determine the Performance Rate for an Indexed Segment at the end of the Indexed Term if the Index performance is zero or positive.

**Protection Level**—The portion of loss that the Company will absorb from any negative Index performance. If the Index performance is negative by more than the Protection Level, there is a risk of loss of principal and any previously credited amount to the Contractowner. The Protection Level is not available on Dual Plus accounts.

**Protection Method**—The method used in protecting from negative Index performance at the end of an Indexed Term, including Protection Levels and Dual Rates.

**Purchase Payment**—The initial investment made by a single premium payment to purchase this Contract.

**Reset Date**—The most recent Valuation Date that an Indexed Segment was reset.

**Reset Rate**—The new Performance Cap if you choose choose to lock the Interim Value of an Indexed Segment before the end of the Indexed Term under *Secure Lock*+<sup>®</sup>.

***Secure Lock*+**<sup>®</sup>—A feature that allows the Interim Value to be locked in on any given Valuation Date, other than an Indexed Anniversary, for an Indexed Segment.

**Segment Ending Value**—The value of an Indexed Segment on the End Date after adjustment for the Performance Rate.

**Start Date**—The Valuation Date on which the Indexed Segment begins.

**Valuation Date**—Each day the New York Stock Exchange (NYSE) is open for trading.

**Valuation Period**—The period starting at the close of trading (normally 4:00 p.m., Eastern Time) on each day that the NYSE is open for trading (Valuation Date) and ending at the close of such trading on the next Valuation Date.

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**Overview of the Contract** 

**Purpose of the Contract** 

The *Lincoln Level Advantage* 2<sup>®</sup> B-Share Index-Linked Annuity contract is designed to accumulate Contract Value and to provide income over a certain period of time or for life, subject to certain conditions. The Contract can supplement your retirement income by providing a stream of income payments during the payout phase. The Contract offers several Indexed Accounts which provide a rate of return based in part on the performance of an Index you select and a Death Benefit payable to your designated Beneficiaries upon the death of a Contractowner or Annuitant.

This Contract may be appropriate if you have a long-term investment horizon. It is not intended for people who may need to make early or frequent withdrawals. See Surrenders and Withdrawals.

**Phases of the Contract** 

Your Contract has two phases: (1) an accumulation (savings) phase, prior to the Annuity Commencement Date; and (2) a payout (income) phase, after the Annuity Commencement Date.

**Accumulation (Savings) Phase.** To help you accumulate assets during the accumulation phase, you can invest your Purchase Payment and earnings in the Indexed Accounts available under the Contract, each of which has its own Index, Indexed Term, Crediting Method, and Protection Method. **The available Indexed Accounts are listed in Appendix A – Investment Options Available Under The Contract.** 

Different Crediting Methods and Protection Methods are available for your Indexed Accounts. We will credit positive, negative, or zero interest at the end of an Indexed Term to amounts allocated to an Indexed Account based, in part, on the performance of the Index. Interest is credited for any gain or deducted for any loss only on the End Date of an Indexed Segment. You could lose a significant portion of your investment if the Index declines in value.

The Protection Method you select determines the type of protection you will have for each Indexed Segment. For Indexed Accounts with Protection Level, the Protection Level is the portion of any negative Index performance that will not impact your Contract Value if you do not make any withdrawals until the End Date of the Indexed Segment. Your Contract Value will not be impacted up to the amount of the Protection Level you elect, and, after that, the Indexed Segment will be impacted for the remaining portion of the loss. For example, if the Index return is -15% and you have a 10% Protection Level, your Contract Value will not be impacted by the first 10% of negative Index performance and we will deduct 5% at the end of the Indexed Term. Any loss will reduce the amount of your investment in the Indexed Segments. The Contract offers Indexed Accounts with Protection Levels that protect you against losses of 10% to 25%.

For Indexed Accounts with a Dual Rate, if the Index performance is negative, your Performance Rate equals the Index performance plus the Dual Rate, which may result in either a negative or positive return. For example, if the Index return is -10% and you have a Dual Rate of 15%, we will credit 5% in interest at the end of the Indexed Term. If the Index return is -20% and you have a Dual Rate of 15%, we will deduct 5% in interest at the end of the Indexed Term. Any loss will reduce the amount of your investment in the Indexed Segments. The Contract offers Indexed Accounts with Dual Rates of 10% or 15%.

**We will always make at least one Indexed Account available under this Contract, but we do not guarantee that the Contract will always offer Indexed Accounts that limit Index losses.** 

The Crediting Method you select determines the Performance Rate for an Indexed Segment. Any applicable Crediting Method may limit the positive Index return used in calculating interest on the End Date of an Indexed Segment. Each Indexed Account will have either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i)

a specified Performance Cap, which is the highest Performance Rate that we will credit. For example, if the Index return is 12%, and the Performance Cap is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%;

ii)

a Performance Trigger Rate that provides a specified rate of return if the performance of the Index is zero or positive. For example, if the Index return is 12%, and the Performance Trigger Rate is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%. Alternatively, if the Index return is 1%, and the Performance Trigger Rate is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%;

iii)

a Dual Performance Trigger Rate, which will either provide a specific rate of return if the Index performance is positive, zero or negative within the Protection Level or be added to the Index performance and the Protection Level if the Index performance is negative and beyond the Protection Level. For example, if the Index return is 12%, and the Dual Performance Trigger Rate is 8%, we will credit 8% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 8%; if the Index return is 2% and the Dual Performance Trigger Rate is 8%, we will credit 8% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 8%; or

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iv)

a Dual Rate, which will either provide a minimum rate of return if the Index performance is between zero and the Dual Rate, or will be added to the Index performance if the Index performance is negative. An Index Account with a Dual Rate will also have a Performance Cap, which is the highest Performance Rate that we will credit if the Index performance exceeds the Dual Rate. For example, if the Index return is 60%, and the Performance Cap is 50%, we will credit 50% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 50%; if the Index return is 4% and the Performance Cap is 50% and the Dual Rate is 15%, we will credit 15% in interest on the End Date of the Indexed Segment, your Segment Ending Value will increase by 15%.

In addition, the Reset Rate may limit a positive Index return if you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+<sup>®</sup>. We will reset the Indexed Segment Performance Cap rate, Performance Trigger Rate, or Dual Performance Trigger Rate for the remainder of the Indexed Term following the lock, and these Reset Rates may be lower than the original rates. For example, if the Performance Cap is 4% and you choose to lock in the Interim Value, then on the next Indexed Anniversary Date, we could reset the Performance Cap for the remaining Indexed Terms to 2%. If the Index return is 12%, we will credit 2% in interest on the End Date of the Indexed Segment.

**We guarantee a minimum declared crediting rate for each Indexed Account. We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%.** 

**Annuity (Income) Phase.** You can elect to annuitize your Contract and turn your Contract Value into a stream of income payments (sometimes called Annuity Payouts), at which time the accumulation phase of the Contract ends. These payments may continue for a set period of years, for as long as you live, or for the longer of the two.

If you annuitize, your investments will be converted to income payments and you will no longer be able to choose to make withdrawals from your Contract. All benefits during the accumulation phase (including guaranteed minimum Death Benefits) terminate upon annuitization.

**Primary Features and Options of the Contract** 

**Accessing your money.** During the accumulation phase, you can surrender the Contract or withdraw part of the Contract Value. If you surrender or take an early withdrawal, you may have to pay a surrender charge, taxes and a tax penalty if you are younger than 59½. No interest will be credited to funds withdrawn or surrendered before the end of an Indexed Term. Additionally, if you surrender the Contract or withdraw from an Indexed Segment prior to its End Date, you will be subject to a Contract Adjustment based on the Interim Value.

***Secure Lock*+**<sup>®</sup>**.** On any Valuation Date, excluding an Indexed Anniversary, one time each Contract Year between the Term Start Date and Term End Date, you may request to lock the Interim Value ("*Secure Lock*+<sup>®</sup>") of an Indexed Segment.

You could lose a significant amount of money due to the Contract Adjustments based on Interim Values if amounts, are removed from an Indexed Segment prior to the Segment End Date. The Interim Value calculated at the end of the Valuation Date will be locked in and once selected, a *Secure Lock*+<sup>®</sup> is irrevocable. If you request a lock-in of the Indexed Segment when the Interim Value is below your Indexed Crediting Base, Protection Methods do not apply and you assume all loss. *Secure Lock*+<sup>®</sup> is not available with all Crediting Methods and Protection Methods or upon the selection of an Annuity Payout option. Withdrawals prior to the Segment End Date may have a significant impact on your Contract Value. See the Contract Adjustments discussion below.

**Tax treatment*.*** Earnings (if any) on your investments are generally tax-deferred. You are taxed only when: (1) you take a withdrawal or surrender; (2) you receive an income payment from the Contract; or (3) upon payment of a Death Benefit.

**Death Benefit.** Your Contract includes a Death Benefit that will be paid upon the death of either the Contractowner(s) or the Annuitant.

**Additional Service.** The Automatic Withdrawal Service allows you to automatically take periodic withdrawals from your Contract, and is available under the Contract for no additional charge.

**Contract Adjustments** 

If you make any withdrawals, surrender, or terminate your Contract, reallocate Contract Value from an Indexed Segment, annuitize your Contract or upon payment of a Death Benefit from an Indexed Segment on any date prior to the Segment End Date, your Contract Value in the Indexed Segment will be subject to a Contract Adjustment based on Interim Value. You could lose a significant amount of money due to Contract Adjustments based on Interim Values if amounts are removed from an Indexed Segment prior to the Segment End Date. Your Interim Value may be less than the amount invested and may be less than the amount you would receive had you held the investment in the Indexed Segment until the Segment End Date. The Interim Value will generally be negatively

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affected by increases in the expected volatility of Index prices, interest rate increases, and by poor market performance. All other factors being equal, the Interim Value generally would be lower the earlier a withdrawal or surrender is made in a Term.

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**Important Information You Should Consider About the *Lincoln Level Advantage* 2**<sup>®</sup> **B-Share Index-linked Annuity Contract** 

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| **FEES, EXPENSES, AND ADJUSTMENTS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|

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| **Are There Charges or** <br> **Adjustments for Early** <br> **Withdrawals?**<br>| &nbsp;&nbsp; **Yes:**<br> A surrender charge may apply to a surrender or withdrawal of a <br> Purchase Payment prior to the 6<sup>th</sup> anniversary since the Purchase <br> Payment was invested, up to 7% of the amount withdrawn, declining to <br> 0% over that time period. For example, if you make a withdrawal of <br> $100,000 during the first year after your Purchase Payment, you could <br> be assessed a charge of up to $7,000 on the Purchase Payment <br> withdrawn. A surrender charge will not apply if your surrender or <br> withdrawal is made after the 6<sup>th</sup> anniversary since a Purchase Payment <br> was invested. This loss will be greater if there is a negative Contract <br> Adjustment based on Interim Values, taxes, or tax penalties.<br>If you withdraw Contract Value prior to the End Date of an Indexed <br> Term, we will apply a Contract Adjustment based on Interim Value, <br> which could be negative, and you could lose up to 100% of your <br> investment due to the Contract Adjustment. For example, if you <br> allocate $100,000 to an Indexed Account and later withdraw the entire <br> amount before the Indexed Term has ended, you could lose up to <br> $100,000 of your investment. This loss will be greater (but never more <br> than 100%) if you also have to pay a surrender charge, taxes, and tax <br> penalties. Contract Adjustments are applied to withdrawals, surrenders, <br> reallocations, annuitizations and Death Benefit payments prior to the <br> End Date of an Indexed Term and when a *Secure Lock*+<sup>®</sup> is exercised.<br>| &nbsp;&nbsp; **●Fee Tables**<br> **●Charges and** <br> **Adjustments –** <br> **Surrender Charge**<br>**●Charges and** <br> **Adjustments –** <br> **Contract** <br> **Adjustments**<br>|

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| **Are There Transaction** <br> **Charges?**<br>| &nbsp;&nbsp; **No**:<br> The Contract does not impose any transaction charges other than <br> surrender charges.<br>| &nbsp;&nbsp; **●Fee Tables**<br> **●Charges and** <br> **Adjustments**<br>|

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| **Are There Ongoing Fees and** <br> **Expenses?**<br>| &nbsp;&nbsp; **Yes**. There is an implicit ongoing fee on Indexed Accounts to the extent <br> that your participation in Index gains is limited by the Company <br> through the use of a Performance Cap, Performance Trigger Rate, Dual <br> Performance Trigger Rate or Reset Rate. This means that your returns <br> may be lower than the Index's returns. In return for accepting this limit <br> on Index gains, you will receive some protection from Index losses. <br> Additionally, in certain cases your Contract Value may be subject to a <br> negative Interim Value adjustment.<br>| &nbsp;&nbsp; **●Fee Tables**<br> **●Charges and** <br> **Adjustments –** <br> **Surrender Charge** <br>|

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|  | **RISKS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Is There a Risk of Loss** <br> **From Poor Performance?**<br>| &nbsp;&nbsp; **Yes:**<br> **●**You can lose money by investing in the Contract. Your investment in <br> the Indexed Accounts is subject to all losses in excess of the <br> Protection Method or Dual Rate you choose including any loss <br> experienced from a negative Index performance. **Under extreme** <br> **circumstances, you could lose up to 90% of your investment in an** <br> **Indexed Account with a 10% Protection Level or 10% Dual Rate,** <br> **up to 85% of your investment in an Indexed Account with a 15%** <br> **Protection Level or 15% Dual Rate, up to 80% of your investment** <br> **in an Indexed Account with a 20% Protection Level, and up to** <br> **75% of your investment in an Indexed Account with a 25%** <br> **Protection Level. We do not guarantee that the Contract will** <br> **always offer Indexed Accounts that limit Index losses, which** <br> **would mean risk of loss of the entire amount invested.**<br>●An Interim Value is calculated if an early withdrawal is taken. The <br> Interim Value formula may result in a loss even if the Index Value at <br> the time of the withdrawal is higher than the Index Value at the <br> beginning of the Indexed Term.<br>| &nbsp;&nbsp; **●Principal Risks of** <br> **Investing in the** <br> **Contract**<br>|
| **Is This a Short-Term** <br> **Investment?**<br>| &nbsp;&nbsp; **No:**<br> ●This Contract is not designed for short-term investing and is not <br> appropriate for the investor who needs ready access to cash.<br>●Indexed interest will only be credited to an Indexed Account at the <br> end of an Indexed Term. No interest will be credited to funds <br> withdrawn or surrendered before the end of an Indexed Term.<br>●Withdrawals taken prior to the end of an Indexed Term may result in <br> a negative Contract Adjustment based on the Interim Value and loss <br> of positive Index performance. The Interim Value formula may result <br> in a loss even if the Index Value at the time of the withdrawal is <br> higher than the Index Value at the beginning of the Indexed Term.<br>●A surrender or withdrawal may result in surrender charges. Any <br> surrender charge will reduce the Contract Value or the amount of <br> money that you actually receive.<br>●Surrenders and withdrawals are subject to ordinary income tax and <br> may be subject to tax penalties.<br>●At the end of an Indexed Term, you may reallocate the Indexed <br> Segment Ending Value to any available Indexed Account as long as <br> the reallocation request is received on or before the Indexed <br> Anniversary Date. If we do not hear from you by the end of the <br> Indexed Term, we will reallocate your Segment Ending Value into a <br> new Indexed Segment with the same Crediting Method, Indexed <br> Term, Index and Protection Method if available. A new rate will apply <br> based on the Indexed Segment you select, subject to the guaranteed <br> minimum rates. If the same type of Indexed Segment is not <br> available your Segment Ending Value will be moved to the 1-Year <br> S&P 500<sup>®</sup> Price Return Index with Performance Cap and 10% <br> Protection Level and will not be eligible for reallocation into another <br> Indexed Account until the next Indexed Anniversary Date.<br>| &nbsp;&nbsp; **●Principal Risks of** <br> **Investing in the** <br> **Contract**<br>**●Surrenders and** <br> **Withdrawals**<br>**●Fee Tables**<br> **●Charges and** <br> **Adjustments** <br>|

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| **RISKS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|

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| **What are the Risks** <br> **Associated** <br> **With the Investment** <br> **Options?**<br>| &nbsp;&nbsp; ●An investment in this Contract is subject to the risk of poor <br> investment performance of the Indexed Accounts you choose. <br> Performance can vary depending on the performance of the Indexes <br> linked to the Indexed Accounts.<br>●Each Indexed Account has its own unique risks and you should <br> review the available Indexed Accounts before making an investment <br> decision.<br>●The Crediting Method you select may limit positive (upside) Index <br> returns. This may result in you earning less than the Index return. <br> For example:<br>●If the Indexed Account has a Performance Cap, and the Index <br> return is 12% and the Performance Cap is 10%, we will credit <br> 10% in interest at the end of the Indexed Term.<br>●If the Indexed Account has a Performance Trigger Rate, and the <br> Index return is 12% and the Performance Trigger Rate is 10%, we <br> will credit 10% in interest at the end of the Indexed Term.<br>●If the Indexed Account has a Dual Performance Trigger Rate, and <br> the Index return is 12% and the Dual Performance Trigger Rate is <br> 8%, we will credit 8% in interest at the end of the Indexed Term.<br>●If the Indexed Account has a Dual Rate and Performance Cap, and <br> the Index return is 60% and the Performance Cap is 50%, we will <br> credit 50% in interest at the end of the Indexed Term.<br>●A Reset Rate may limit positive Index return if you choose to lock <br> the Interim Value of an Indexed Segment under *Secure Lock*+<sup>®</sup>. For <br> example, if the Index return is 12%, and the Reset Rate is a 2% <br> Performance Cap, we will credit 2% in interest at the end of the end <br> of the Indexed Term.<br>●While an Indexed Account with Dual Performance Trigger Rate or <br> Dual Plus may provide for a positive Performance Rate even in the <br> event of negative Index performance, there is no guarantee of <br> investment gain. Negative Index performance may result in <br> significant loss.<br>●The Protection Level will limit negative (downside) Index returns. <br> For example, if the Index return is -25% and the Protection Level is <br> 10%, we will deduct 15% (the amount that exceeds the Protection <br> Level) at the end of the Indexed Term.<br>●The Dual Rate will limit negative (downside) Index returns. For <br> example, if the Index return is -25% and the Dual Rate is 15%, we <br> will deduct 10% at the end of the Indexed Term.<br>●Each Index is a "price return Index", not a "total return Index", and <br> does not, therefore, reflect dividends paid on the underlying <br> securities. This will cause the Index to underperform a direct <br> investment in the securities composing the Index.<br>**●These factors may result in you earning less than the Index** <br> **return.**<br>| &nbsp;&nbsp; **●Principal Risks of** <br> **Investing in the** <br> **Contract** <br>|

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| **RISKS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|

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| **What are the Risks Related** <br> **to the Insurance Company?**<br>| &nbsp;&nbsp; ●An investment in the Contract is subject to the risks related to <br> Lincoln New York. Any obligations, guarantees, or benefits of the <br> Contract are subject to our claims-paying ability. If we experience <br> financial distress, we may not be able to meet our obligations to <br> you. More information about Lincoln New York, including our <br> financial strength ratings, is available upon request by calling 1-877-<br> 737-6872 or visiting www.LincolnFinancial.com.<br>●Each Index's returns do not include any dividends or other <br> distributions declared by the companies included in the Index and <br> will cause the Index to underperform a direct investment in the <br> companies included in the Index.<br>| &nbsp;&nbsp; **●Principal Risks of** <br> **Investing in the** <br> **Contract**<br>|

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|  | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There Restrictions** <br> **on the Investment Options?**<br>&nbsp;&nbsp; **Yes:**<br> ●You cannot reallocate from an Indexed Account to another Indexed <br> Account except on an Indexed Anniversary. If you reallocate from an <br> Indexed Account on an Indexed Anniversary that is not the End Date <br> of the Indexed Term, any such reallocation will be based on the <br> Interim Value of the Indexed Account (or the value locked-in <br> through previous exercise of *Secure Lock*+<sup>®</sup>).<br>●All Indexed Segments must begin on the Indexed Anniversary Date. <br> All future Indexed Terms must begin on the same Indexed <br> Anniversary Date. This means that after the initial Indexed Segment <br> is created you can only make reallocations of Contract Value to the <br> Indexed Accounts one time a year. If you have more than one 6-Year <br> Term Indexed Segment in effect at any time, Indexed Terms of the <br> same Indexed Term length must have the same Start Date.<br>●We determine and provide the available Indexed Accounts and <br> applicable rates for the Crediting Methods of each Indexed Segment <br> at least 5 business days in advance of the Indexed Anniversary Date. <br> We may not offer new Indexed Segments for the Indexed Accounts <br> or we may change the features of an Indexed Account from one <br> Indexed Term to the next, including the Index and current limits on <br> Index gains and losses (subject to any minimum guarantees). <br> Therefore, an Indexed Account may not be available for you to <br> reallocate your Contract Value on an Indexed Anniversary Date.<br>●We have the right to substitute an alternative Index prior to the End <br> Date of an Indexed Term if an Index is discontinued; we are engaged <br> in a contractual dispute with the Index provider; we determine that <br> our use of an Index should be discontinued because, for example, <br> changes to the Index make it impractical or expensive to purchase <br> securities or derivatives to hedge the Index; there is a substantial <br> change in the calculation of an Index, resulting in significantly <br> different values and performance; or for a legal reason we cannot <br> offer the Index. If we substitute an Index for an existing Indexed <br> Segment, we will not change the Crediting Method or Protection <br> Method for the Indexed Term. We will attempt to choose a new <br> Index that has a similar investment objective and risk profile to the <br> existing Index.<br>●The availability of Indexed Accounts may vary depending on the <br> broker-dealer through which the Contract is sold.<br>| &nbsp;&nbsp; **●Indexed Accounts**<br> **●Appendix A –** <br> **Investment Options** <br> **Available Under The** <br> **Contract**<br>**●Appendix C - Broker-**<br> **Dealer Material** <br> **Variations** <br>|

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|  | **RESTRICTIONS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There any Restrictions** <br> **on Contract Benefits?**<br>| &nbsp;&nbsp; **Yes:**<br> ●Withdrawals will reduce the Death Benefit.<br> ●The Contract will terminate when any Death Benefit is paid due to <br> the death of the Annuitant.<br>●Benefits availability may vary by selling broker-dealer. All variations, <br> if material, will be disclosed in the prospectus.<br>| &nbsp;&nbsp; **●The Contracts**<br> **●Appendix C - Broker-**<br> **Dealer Material** <br> **Variations**<br>|
|  | **TAXES** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **What are the Contract's** <br> **Tax Implications?**<br>| &nbsp;&nbsp; ●Consult with a tax professional to determine the tax implications of <br> an investment in and payments received under this Contract.<br>●If you purchase the Contract through a tax-qualified plan or IRA, you <br> do not get any additional tax benefit under the Contract.<br>●Earnings on your Contract may be taxed at ordinary income tax <br> rates when you withdraw them, and you may have to pay a penalty <br> if you take a withdrawal before age 59½.<br>| **●Federal Tax Matters** |
|  | **CONFLICTS OF INTEREST** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **How are Investment** <br> **Professionals Compensated?**<br>| &nbsp;&nbsp; ●Your registered representative may receive compensation for selling <br> this Contract to you, both in the form of commissions and because <br> we may share the revenue it earns with the professional's firm. <br> (Your investment professional may be your broker-dealer, <br> investment adviser, insurance agent, or someone else.)<br>●This potential conflict of interest may influence your investment <br> professional to recommend this Contract over another investment.<br>| &nbsp;&nbsp; **●Distribution of the** <br> **Contracts**<br>|
| **Should I Exchange My** <br> **Contract?**<br>| &nbsp;&nbsp; ●If you already own a contract, some investment professionals may <br> have a financial incentive to offer you a new contract in place of the <br> one you currently own. You should only exchange your existing <br> contract if you determine, after comparing the features, fees, and <br> risks of both contracts, that it is better for you to purchase the new <br> contract rather than continue to own your existing contract.<br>| &nbsp;&nbsp; **●The Contracts -** <br> **Replacement of** <br> **Existing Insurance**<br>|

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**Fee Tables**

**The following tables describe the fees, expenses, and adjustments that you will pay when buying, owning, and surrendering or making withdrawals from an Indexed Account. 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.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender or make withdrawals from an Indexed Account. State premium taxes may also be deducted. Currently there is no premium tax levied for New York residents.** 

**TRANSACTION EXPENSES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| Surrender charge (as a percentage of Purchase Payments surrendered/withdrawn):<sup>1</sup> | 7.00% |

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The surrender charge percentage is reduced over a 6-year period at the following rates: 7%, 7%, 6%, 5%, 4%, 3%. We may reduce or waive this charge in certain

situations. See Charges and Adjustments – Surrender Charge.

**The next table describes the adjustments, in addition to any transaction expenses, that apply if all or a portion of the Contract Value is removed from an Indexed Account or from the Contract before the expiration of a specified period.** 

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**ADJUSTMENTS**

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| **Contract Adjustment (Interim Value) Maximum Potential Loss** (as a percentage of Contract Value at the start of an <br> Indexed Term)<br>| 100% |

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If you make any withdrawals, surrender or terminate your Contract), reallocate Contract Value from an Indexed Segment, annuitize your Contract or upon payment of a Death Benefit from an Indexed Segment on any date prior to the Segment End Date, your Contract Value in the Indexed Segment will be its Interim Value. The Interim Value calculation is designed to represent the fair value of the Indexed Segment on each business day, taking into account the potential gain or loss of the applicable Index at the end of the Indexed Term, including the impacts of the Crediting Method or Protection Method you have chosen. The calculation is also designed to reflect the change in fair value due to economic factors, including, but not limited to, the impact of market rates, volatility, and correlation (if applicable) of the investment instruments supporting the Contract. The Interim Value is based on this calculation and not the actual value of any underlying investments or the current value of any Index. The maximum loss would occur if there is a total distribution for an Indexed Segment at a time when the Index

Value has declined to zero or close to zero.

**Principal Risks of Investing in the Contract** 

This section describes potential risks associated with the Contract.

***Market Risk.*** There is a risk of loss of your investment in the Indexed Segments since the performance tracks a market Index. You are responsible for all losses in excess of the Protection Method you choose. **Under extreme circumstances, at the end of an Indexed Term, you could lose up to 90% of your investment in an Indexed Account with a 10% Protection Level or 10% Dual Rate, up to 85% of your investment in an Indexed Account with a 15% Protection Level or 15% Dual Rate, up to 80% of your investment in an Indexed Account with a 20% Protection Level, and up to 75% of your investment in an Indexed Account with a 25% Protection Level. We do not guarantee that the Contract will always offer Indexed Accounts that will limit Index losses, which would mean risk of loss of the entire amount invested.** 

The Protection Method applies for the full term of the Indexed Segment including Segments with Annual Locks. Each time you move into a new Indexed Segment, you may have a new Protection Level or Dual Rate and are subject to the same risk of loss as described above. There is also a risk of loss upon an early withdrawal. For Annual Lock accounts, since the gain or loss is established each year, losses can accumulate so that you could actually lose more than the amount in excess of the Protection Level percent. Losses you incur in one year will reduce the amount invested for the next year. In a continuing down market over the Indexed Term, however, your loss could exceed the Protection Level. For example, if you chose a 10% Protection Level and if loss occurred during each Annual Lock period for the remainder of the term, you could lose more than 90% of your principal in an Annual Lock account.

***Early Withdrawal Risk.*** This Contract is not designed for short-term investing and is not appropriate for an investor who needs ready access to cash. The benefits of tax deferral and long-term income also mean that the Contract is more beneficial to investors with a long-term horizon. You should carefully consider the risks associated with taking a withdrawal or surrendering the Contract. You may incur a surrender charge upon the surrender or withdrawal of Contract Value. See Charges and Adjustments – Surrender Charge. If you take a withdrawal or surrender the Contract, any applicable surrender charges will reduce the value of your Contract or the amount of money that you ultimately receive. The proceeds of your withdrawal or surrender may be subject to ordinary income taxes, including a tax penalty if you are younger than age 59½. Participation in an Automatic Withdrawal Service will repeatedly expose you to these risks.

If you withdraw Contract Value from an Indexed Account prior to the End Date of an Indexed Term it will be based on the Interim Value of the Indexed Account. **Under extreme conditions, a negative Contract Adjustment based on Interim Values could result in a loss of up to 100% of your Contract Value in an Indexed Segment.** Additionally, the withdrawal will cause an immediate reduction to your Indexed Crediting Base in a proportion equal to the reduction in your Interim Value. A proportional reduction could be larger than the dollar amount of your withdrawal. Reductions to your Indexed Crediting Base will negatively impact your Interim Value for the remainder of the Indexed Term and will result in a lower Indexed Segment Ending Value at the end of the Indexed Term unless *Secure Lock*+<sup>®</sup> is exercised. Once your Indexed Crediting Base is reduced due to a withdrawal during any Indexed Term, you cannot increase it during the remainder of the Indexed Term. Contract Value must remain in an Indexed Segment until the end of the Indexed Term to be credited with all or partial interest unless *Secure Lock*+<sup>®</sup> is exercised.

To determine the Interim Value, we apply a formula which is not the actual performance of the applicable Index, but rather a determination of the value of hypothetical underlying investments at the time of the Interim Value calculation. This amount could be less than if you had held the Indexed Segment for the full Indexed Term. It also means that you could have a negative performance, even if the value of the Index has increased during the calculation period. All withdrawals (including surrender or termination of your Contract), reallocation of Contract Value from an Indexed Segment, annuitization of your Contract or payment of a Death Benefit from an Indexed Segment on any date prior to the Segment End Date will be based on the Interim Value.

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***Indexed Account Risk.*** Each available Index will expose you to risks associated with equity markets. Equity markets are subject to the risk that the value of the securities may fall due to general market and economic conditions. Market volatility may exist with the Indices, which means that the value of the Indices can change dramatically over a short period of time in either direction. The Indices used are "price return Indices", not "total return Indices", meaning that each Index's returns do not include any dividends or other distributions declared by the companies included in the Index and will cause the Index to underperform a direct investment in the companies included in the Index.

We may change the Index on a particular Indexed Account if the Index is discontinued or if we feel the Index is no longer appropriate. This change may occur in the middle of an Indexed Segment and this change may impact how your Indexed Segment performance and Interim Value are calculated. See the Discontinuance or Substitution of an Index section later in the prospectus for more information.

If we do not receive investment instructions from you by the end of an Indexed Term, we will invest your Segment Ending Value in a new Indexed Segment with the same Crediting Method, Indexed Term, Index, Protection Level, or Dual Rate, as applicable, if available. The Crediting Method for the new Indexed Segment could be less advantageous than the current Indexed Segment because the rate may be different. If the same type of Indexed Segment is not available your Segment Ending Value will be moved to the 1-Year S&P 500<sup>®</sup> Price Return Index with Performance Cap, 10% Protection Level. If your Contract Value has been invested in a new Segment and you wish to withdraw your investment, the Contract Value for that Segment will equal the Interim Value.

Investors in an Indexed Account have no rights in the linked Index. You will not have voting rights or rights to receive cash dividends or other rights that shareholders who invest in mutual funds based on these Indices would have.

Additional risks for specific Indices are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● S&P 500® Price Return Index: This Index is comprised of equity securities issued by large-capitalization U.S. companies. In general large-capitalization companies may be unable to respond quickly to new competitive challenges and may not be able to attain the high growth rate of smaller companies, especially during periods of economic expansion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Russell 2000® Price Return Index: Compared to mid-and large-capitalization companies, small-capitalization companies may be less stable and more susceptible to adverse developments, and their securities may be more volatile and less liquid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Capital Strength Net Fee IndexSM: This Index has fewer stocks than broad based indices; therefore, the risk is spread between fewer equity securities. This Index may not track other large cap indices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● First Trust American Leadership IndexTM: In general, large-capitalization companies may be unable to respond quickly to new competitive challenges and may not be able to attain the high growth rate of smaller companies, especially during periods of economic expansion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Nasdaq-100 Index®: This large-cap growth index is comprised of 100 of the largest domestic and international nonfinancial companies listed on the NASDAQ Stock Market based on market capitalization. This index is comprised of industries such as technology, consumer services, and health care. In general, large-capitalization companies may be unable to respond quickly to new competitive challenges and may not be able to attain the high growth rate of smaller companies, especially during periods of economic expansion.

***Risks Associated with Crediting Methods and Protection Methods.*** The available Indexed Accounts with applicable Crediting Methods and Protection Methods will vary over time. Before investing in a new Indexed Segment, you should determine exactly what Indexed Accounts, Protection Methods, and Crediting Methods are available to you. There is no guarantee that more than one Indexed Account will be available in the future. You risk the possibility that you would find declared caps and rates unacceptable (i.e. could be lower than what were available at the time your Contract was issued), so you should make sure the Segment(s) you select is appropriate for your investment goals.

● The Protection Method that is applicable to an Indexed Account only provides you with limited protection from negative Index performance at the end of an Indexed Term, or, in the case of Indexed Account with an Annual Lock, each Contract Year during the Indexed Segment. You could lose a significant amount of your Purchase Payment and/or prior earnings under the Contract despite these limits on negative Index returns. You also bear the risk that continued negative Index returns may result in zero or a negative Performance Rate being credited to your Contract Value over multiple strategy periods. Given that the Protection Method applies to a single Indexed Term, if an Indexed Account is credited with a negative Performance Rate for multiple Indexed Terms, the cumulative loss may exceed any single Indexed Term's stated Protection Method. Similarly, if you select an Indexed Account with an Annual Lock, the Protection Level will apply each Contract Year during an Indexed Term, so if the Index has negative performance for multiple Contract Years during the Indexed Term, the cumulative loss reflected in the Performance Rate at the end of the Indexed Term may exceed any single Contract Year's stated Protection Level. The Protection Method does not apply to your Interim Value, so in order to receive the full protection you must hold your investment until the end of the Indexed Term.

● Gains in your Indexed Segments are limited by any applicable Performance Cap, which means that your return could be lower than if you had invested directly in a fund based on the applicable Index. The Performance Cap exists for the full term of the Indexed Segment unless Secure Lock+® is exercised. Generally, Indexed Segments with greater Protection Levels have lower Performance Caps. Performance Caps for new Segments will be declared at least 5 business days in advance of the beginning of

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a Segment. Subsequent Performance Caps may differ from the Performance Cap used for new Contracts or for other Contracts issued at different times.

● Gains in your Indexed Segments are limited by any applicable Performance Trigger Rate. If the performance of the Index is zero or positive, a specified rate is used to determine the Segment Ending Value. The Performance Trigger Rate may be lower than the actual performance of the Index, which means that your return may be lower than if you had invested directly in a fund based on the applicable Index. The Performance Trigger Rate applies for the full term on the Indexed Segment unless Secure Lock+® is exercised. Generally, Indexed Segments with greater Protection Levels have lower Performance Trigger Rates. Performance Trigger Rates for new Segments will be declared at least 5 business days in advance of the beginning of a Segment. Subsequent Performance Trigger Rates may differ from the Performance Trigger Rate used for new Contracts or for other Contracts issued at different times.

● Gains in your Indexed Segment are limited by any applicable Dual Performance Trigger Rate. The Dual Performance Trigger Rate is used in determining the Segment Ending Value. The Dual Performance Trigger Rate may be lower than the actual performance of the Index, which means that your return could be lower than if you had invested directly in a fund based on the applicable Index. The Dual Performance Trigger Rate applies for the full term of the Indexed Segment unless Secure Lock+® is exercised. Dual Performance Trigger Rates for new Segments will be declared at least 5 business days in advance of the beginning of a Segment. Subsequent Dual Performance Trigger Rates may differ from the Dual Performance Trigger Rate used for new Contracts or for the other Contracts issued at different times.

● Gains in your Dual Plus Indexed Segment are limited by any applicable Performance Cap, which means that your return could be lower than if you had invested directly in a fund based on the applicable Index. The Performance Cap exists for the full term of the Indexed Segment. Performance Caps for new Segments will be declared at least 5 business days in advance of the beginning of a Segment. Subsequent Performance Caps may differ from the Performance Cap used for new Contracts or other Contracts issued at different times.

● For Indexed Accounts without an Annual Lock, the indexed performance credited to or deducted from your Indexed Segment is determined on the last day of the Indexed Term. It is not affected by the price of the Index on any date in between the effective date of the Indexed Account and the End Date of the Indexed Term. Annual Lock accounts are not affected by Index prices between the Annual Lock anniversaries.

***Risks Associated with Secure Lock+***<sup>®</sup> 

You should carefully consider whether and when to elect a *Secure Lock*+<sup>®</sup> of your Interim Value. A lock-in may only be requested once per Contract Year per Indexed Segment and is irrevocable. Your locked-in value could be less than if you chose not to lock- in. If you request a lock-in when the Interim Value is below the Indexed Crediting Base, Protection Levels do not apply, and you assume all loss. If you have elected to lock-in and the Interim Value supporting the Index Segment would have otherwise increased since the lock-in, you will not be able to take advantage of the increase. Additionally, you assume the risk that your Reset Rate may not be known when you request a lock-in and the Reset Rate may be lower, significantly lower than the rate prior to the lock-in. *Secure Lock*+<sup>®</sup> is not available with all Indexed Accounts. Refer to the "*Secure Lock*+<sup>®</sup>" section for additional details and examples.

***Insurance Company Risk***

● An investment in the Contract is subject to the risks related to us, Lincoln New York. Any obligations, 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.

● Your receipt of funds invested in the Indexed Segments is based on the claims paying ability of Lincoln New York. You have no ownership rights in the underlying securities. The assets backing the Indexed Accounts are not segregated from other business of Lincoln New York.

***Contract Changes Risk***

● We reserve the right, within the law, to make certain changes to the structure and operation of the Indexed Accounts at our discretion and without your consent. We may add to or delete Indexed Accounts currently available. We do not guarantee that more than one Indexed Account option will always be available.

● You should carefully consider the risks associated with taking a withdrawal or surrender under the Contract. If you take a withdrawal or surrender the Contract, any applicable surrender charges will reduce the value of your Contract or the amount of money that you ultimately receive. The proceeds of your withdrawal or surrender may be subject to ordinary income taxes, including a tax penalty if you are younger than age 59½. Participation in an Automatic Withdrawal Service will repeatedly expose you to these risks.

● You may incur a surrender charge upon the surrender or withdrawal of Contract Value. See Charges and Adjustments – Surrender Charge.

● You should carefully consider whether and when to elect a Secure Lock+® of your Interim Value. A lock-in may only be requested once per Contract Year per Indexed Segment and is irrevocable. Your locked-in value could be less than if you chose not to lock-in. If you request a lock-in when the Interim Value is below the Indexed Crediting Base, Protection Levels do not apply and you assume all loss. If you have elected to lock-in and the Interim Value supporting the Index Segment would have otherwise

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increased since the lock-in, you will not be able to take advantage of the increase that Contract Year. Additionally, you assume the risk that your Reset Rate may not be known when you request a lock-in and the Reset Rate may be lower, significantly lower than the rate prior to the lock-in. *Secure Lock*+<sup>®</sup> is not available with all Indexed Accounts. Refer to the "*Secure Lock*+<sup>®</sup>" section for additional details and examples.

***Cybersecurity and Business Interruption Risks.*** We rely heavily on our computer systems and those of our business partners and service providers to conduct our business. As such, our business is vulnerable to cybersecurity risks and business interruption risks. These risks include, among other things, the theft, loss, misuse, corruption and destruction of data; interference with or denial of service; attacks on websites or systems; operational disruptions; and unauthorized release of confidential customer or business information. Cybersecurity risks affecting us, any third-party administrators, underlying funds, index providers, intermediaries, and service providers may adversely affect us and/or your Contract. For instance, systems failures and cyberattacks may interfere with our processing of Contract transactions, including order processing; impact our ability to calculate Contract values; cause the release and possible destruction of confidential customer or business information; and/or subject us to regulatory fines, litigation, financial losses or reputational damage. Cybersecurity risks may also impact the issuers of securities in which the underlying funds invest (or the securities that compose an Index), which may cause your Contract to lose value. There can be no assurance that systems disruptions, cyberattacks and information security breaches will always be detected, prevented, or avoided in the future.

In addition to cybersecurity risks, we are exposed to risks related to natural and man-made disasters, such as (but not limited to) storms, fires, floods, earthquakes, public health crises, malicious acts, and terrorist acts. Any such disasters could interfere with our business and our ability to administer the Contract. For example, they could lead to delays in our processing of Contract transactions, including orders from Contractowners, or could negatively impact our ability to calculate Contract values. They may also impact the issuers of securities in which the underlying funds invest (or the securities that compose an Index), which may cause your Contract to lose value. There can be no assurance that negative impacts associated with natural and man-made disasters will always be avoided.

***Purchase Payment Risk.* We do not accept additional Purchase Payments after the Contract has been issued to you.** Accordingly, you will be unable to increase your Contract Value or Death Benefit by making subsequent Purchase Payments. You should carefully consider the amount of your Purchase Payment when purchasing the Contract and whether to take a withdrawal under the Contract. The reduction of Contract Value as a result of a withdrawal, including any applicable surrender charges, may not be offset by gains as a result of positive performance of your investment selections.

You must obtain our approval for a Purchase Payment totaling $1 million or more. This amount takes into consideration the total Purchase Payments for all existing *Lincoln Level Advantage*<sup>®</sup>, *Lincoln Level Advantage* 2<sup>®</sup> and *Lincoln Level Advantage 2 Income*<sup>SM</sup> contracts for the same owner, joint owner, or Annuitant. At the Company's discretion, this amount may consider total Purchase Payments for all annuity contracts issued by the Company (or its affiliates) for the same Contractowner, joint owner, and/or Annuitant.

**Indexed Accounts** 

The Contract offers several Indexed Accounts. We will credit positive, negative or zero interest at the end of an Indexed Term based, in part, on the performance of an Index. This rate of return is the Performance Rate. An Indexed Account is defined by the Index tracked, the length of the Indexed Term, the Crediting Method and the Protection Level or Dual Rate, as applicable, it provides, and whether or not it includes an Annual Lock. An investment in an Indexed Account is not an investment in the Index or in any Index fund.

You could lose a significant portion of your investment in an Indexed Segment if the Index declines in value. You are responsible for all losses in excess of the Protection Level or Dual Rate you choose. There is also a risk of loss upon an early withdrawal. If you withdraw Contract Value prior to the End Date of an Indexed Term, the withdrawal will be based on Interim Value and will cause an immediate reduction in your Indexed Crediting Base in a proportion equal to the reduction in your Interim Value. A proportional reduction could be larger than the dollar amount of your withdrawal. You could lose a significant portion of your investment in an Indexed Segment if amounts are removed from the Indexed Segment prior to the end of the Indexed Term.

You may allocate all or a portion of your Purchase Payment into one or more Indexed Accounts. The minimum allocation to an Indexed Account is $2,000; there is no maximum allocation limit. A new Indexed Segment is established upon an allocation to an Indexed Account. Each Indexed Segment may have its own:

● Start Date

● Crediting Base

● Performance Rate

● Performance Cap

● Performance Trigger Rate

● Dual Performance Trigger Rate

● Dual Rate

● Contract Value

● End Date

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Information regarding each Indexed Account, including 1) its name, 2) its type, 3) its Indexed Term, 4) its Crediting Method, 5) its Protection Method, and 6) its minimum limit on Index gain, is available in Appendix A – Investment Options Available Under The Contract.

**Indices.** Each Indexed Account references a market index that determines the performance of its associated Indexed Segments. A market index is not a fund; it is unmanaged and is not available for direct investment. We currently offer Indexed Accounts based on the performance of the following securities indices:

**S&P 500**<sup>®</sup> **Price Return Index (SPX).** The S&P 500<sup>®</sup> Index is comprised of 500 stocks considered representative of the overall market.

**Russell 2000**<sup>®</sup> **Price Return Index (RTY).** The Russell 2000<sup>®</sup> Index measures the performance of the 2,000 smallest companies in the Russell 2000<sup>®</sup> Index. It is considered representative of small capitalization stocks. The prices of small company stocks generally are more volatile than those of large company stocks.

**Capital Strength Net Fee Index**<sup>SM</sup> **(NQCAPSTNF).** The Index is comprised of 50 stocks selected based on cash on hand, debt ratios and volatility. The Capital Strength Price Return Index<sup>SM</sup> will be reduced by 0.65% to result in the Capital Strength Net Fee Index<sup>SM</sup>.

**First Trust American Leadership Index**<sup>TM</sup> **(FTUSLDRS).** The First Trust American Leadership Index<sup>TM</sup> provides exposure to a selection of U.S. stocks, including companies with a history of paying and raising dividends and others more growth-oriented, representing the largest and most actively traded U.S. stocks in the internet industry. Specifically, the First Trust American Leadership Index provides exposure to U.S. companies driving growth and profitability through internet products and services. The level of the First Trust American Leadership Index<sup>TM</sup> incorporates an embedded 0.65% annual fee. The fee is not related to the annuity.

**Nasdaq-100**<sup>®</sup> **Index (NDX).** The Nasdaq-100<sup>®</sup> Index includes 100 of the largest domestic and international non-financial securities listed on the NASDAQ Stock Market based on market capitalization.

The Indices used are "price return Indices," not "total return Indices," meaning that each Index's returns do not include any dividends or other distributions declared by the companies included in the Index and will cause the Index to underperform a direct investment in the companies included in the Index. The Indices do not represent a direct investment in the Index. If an Index is discontinued or substantially changes (for example if an Index sponsor announces that it will make a material change in the formula for or the method of calculating the Index or in any other way materially modifies the Index), we reserve the right to select an alternative Index and we will notify the Contractowner of such changes. In selecting an alternative Index we will attempt to approximate the performance of the original investment in a commercially reasonable manner in light of relevant market circumstances at the time. Any substitution is subject to approval by the state insurance authorities where the Contract and rider were issued, if required by law. A change to the Index in the middle of a Segment may impact the calculation of the Performance Rate for the Segments. When we notify you of a change to the Index, we will also state how the change will impact your Performance Rate. Investments in new Segments are available on an Indexed Anniversary Date.

The bar charts shown below provide each Index's annual returns for the last 10 calendar years (or for the life of the Index if less than 10 years), as well as the Index returns after applying a hypothetical 5% Performance Cap and a hypothetical 10% Protection Level. The charts illustrate the variability of the returns from year to year and show how hypothetical limits on Index gains and losses may affect these returns. Past performance is not necessarily an indication of future performance.

**The performance below is NOT the performance of *any* specific Indexed Account. Your performance under the Contract will differ, perhaps significantly. The performance below may reflect a different return calculation, time period, and limit on Index gains and losses than the Indexed Account.** This performance does not reflect any Contract Adjustment based on Interim Value or any Contract fees and charges, including surrender charges, which may reduce performance.

![](spindex_4.jpg)

The S&P 500<sup>®</sup> Price Return Index is a "price return Index," not a "total return Index," and therefore does not reflect the dividends paid on securities composing the Index, which will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

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![](russellindex_4.jpg)

The Russell 2000<sup>®</sup> Price Return Index is a "price return Index," not a "total return Index," and therefore does not reflect the dividends paid on securities composing the Index, which will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

![](capstrengthindex_4.jpg)

The Capital Strength Net Fee Index<sup>SM</sup> is a "price return Index," not a "total return Index," and therefore does not reflect the dividends paid on securities composing the Index, which will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

The Index provider deducts fees and costs when calculating the Index return, which will reduce the Index return and will cause the Index to underperform a direct investment in the securities composing the Index.

![](firsttrustindex_4.jpg)

The First Trust American Leadership Index<sup>TM</sup> is a "price return Index," not a "total return Index," and therefore does not reflect the dividends paid on securities composing the Index, which will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

The Index provider deducts fees and costs when calculating the Index return, which will reduce the Index return and will cause the Index to underperform a direct investment in the securities composing the Index.

![](nasdaqindex_5.jpg)

The Nasdaq-100<sup>®</sup> Price Return Index is a "price return Index," not a "total return Index," and therefore does not reflect the dividends paid on securities composing the Index, which will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

**Indexed Term.** The Indexed Term is the specified period of time over which an Index's performance is measured, subject to applicable limits on Index gains and losses, to determine the amount of positive, negative or zero interest that will be credited to an Indexed Account at the end of the period. 1-Year and 6-Year Indexed Terms are available in this Contract. An Indexed Segment begins on the day your money is allocated to an Indexed Segment, called the Start Date. The yearly anniversary of the Start Date of the initial Indexed Segment is the Indexed Anniversary Date of your Contract. This is the Indexed Anniversary Date for the life of your Contract.

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You may choose to allocate your Purchase Payment to different Indexed Accounts, but all Indexed Segments must begin on the Indexed Anniversary Date. All future Indexed Terms must begin on the same Indexed Anniversary Date. This means you can only allocate to Indexed Accounts one time a year. For example, you may start a 6-Year Indexed Segment, and two years later, you can start a 1-Year Indexed Segment, as long as the 1-Year Indexed Segment begins on the Indexed Anniversary Date for your Contract. If you have more than one 6-Year Indexed Segment in effect at any time, Indexed Terms of the same term length must have the same Start Date.

**Your Contract Value must remain in an Indexed Account until the end of the Indexed Term to be credited with all or partial interest and to avoid a possible Contract Adjustment based on Interim Value, in addition to potential surrender charges and tax consequences.** If you make any withdrawals (including surrender or termination of your Contract), reallocate Contract Value from an Indexed Segment, annuitize your Contract or upon payment of a Death Benefit from an Indexed Segment on any date prior to the Segment End Date, your Contract Value in the Indexed Segment will be its Interim Value. For more information, see "Interim Value" later in this section. Lincoln reserves the right to make additional Indexed Account options available or to withdraw currently available Indexed Account options and change the features of an Indexed Account from one Indexed Term to the next, including the Index and the current limits on Index gains and losses, in the future.

**Indexed Contract Value.** For each Indexed Segment the daily value is determined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. On the Start Date of the Indexed Segment, the value of the Indexed Segment equals the initial Indexed Crediting Base. The initial Indexed Crediting Base is the amount of Purchase Payment or Contract Value allocated to the Indexed Segment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. On each Valuation Date during the Indexed Term, the value of the Indexed Segment equals the Interim Value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. On the last date of the Indexed Term, called the End Date, the value of the Indexed Segment equals the Segment Ending Value.

**Crediting Methods and Protection Methods.** Different Crediting Methods and Protection Methods are available for your Indexed Account. Interest is credited for any performance earned or deducted for any loss only on the End Date of a Segment. The Crediting Method you select will limit positive (upside) Index returns credited on the End Date of a Segment and the Protection Method will limit the negative Index returns deducted on the End Date of a Segment. If the End Date is not a Valuation Date, then the amount will be credited or deducted on the next business day. **We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%.**

**Indexed Segments with Performance Caps, No Annual Locks.** The Performance Cap is the maximum Performance Rate that can be credited to the Indexed Segment for an Indexed Term for which it is declared. For example, if the Index return is 12% and the Performance Cap is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%. The Performance Cap may vary depending on the Index, the Indexed Term length, and the Protection Level. Typically, Indexed Segments with greater Protection Levels have lower Performance Caps.

The initial Performance Cap applies to the initial Indexed Term. The Company will declare, at its discretion, a Performance Cap for each subsequent Indexed Term. Subsequent Performance Caps may differ from the Performance Cap used for new Contracts or for other Contracts issued at different times. If no Performance Cap is declared for an Indexed Term, there is no maximum Performance Rate for that Indexed Term. **In no event will a Performance Cap be lower than what is shown in Appendix A – Investment Options Available Under The Contract.** Information about current Performance Caps can be found at www.lfg.com/llarates and is incorporated into this prospectus by reference.

The Performance Rate is the percentage change in the Index Value from the Start Date to the End Date, adjusted by the Protection Level and subject to the Performance Cap. The Performance Rate can be positive, negative or zero. The percentage change in the Index Value is calculated by subtracting the Index Value on the Start Date from the Index Value on the End Date, and the difference is divided by the Index Value on the Start Date. The daily Index Value is posted on the Index's website. If an Index Value is not published for a particular day, we will use the Index Value at the close of the next Valuation Date the Index Value is published.

If your Indexed Account has a Performance Cap and the percentage change of the Index Value from the Start Date to the End Date is positive and equal to or greater than the Performance Cap, then the Performance Rate equals the Performance Cap. If the percentage change is zero or positive and less than the Performance Cap, the Performance Rate equals the percentage change of the Index Value. If you have a Protection Level and the percentage change in the Index Value is less than zero, then the Performance Rate is the lesser of 1) 0%, or 2) the percentage change in the Index Value plus the Protection Level.

The amount credited to or deducted from the Indexed Segment is equal to the Performance Rate multiplied by the Indexed Crediting Base on the End Date. This will be used to determine the Segment Ending Value. The Indexed Crediting Base is the amount you have

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allocated to the Indexed Segment, less any withdrawals during the Indexed Term deducted proportionately by the amount that the withdrawal reduced the Interim Value (described later in the Interim Value section). Withdrawals include any applicable surrender charge, premium tax or rider fees and charges. The Performance Rate is used to determine the value credited after all adjustments. If the Performance Rate is positive, the value of your Indexed Segment will increase. If the Performance Rate is negative (after calculation including the Protection Level), the value of your Indexed Segment is reduced. If the Performance Rate is zero, the value of your Indexed Segment will not change.

The following examples illustrate how we calculate the Performance Rate assuming hypothetical Index returns and hypothetical limits on Index gains and losses. The examples assume no withdrawals.

![](img54b6ca161.jpg)

The Indexed Crediting Base is used only to calculate the performance of Indexed Accounts on the End Date, and to calculate the Interim Value. This amount is not available for surrender, withdrawal, reallocation, annuitization or as a Death Benefit. If *Secure Lock*+<sup>®</sup> has been elected, see the *Secure Lock*+<sup>®</sup> section below for additional information.

Depending on market conditions, subsequent Performance Caps may be higher or lower than the initial Performance Cap. The Company will determine new Performance Caps on a basis that does not discriminate unfairly within any class of contracts.

**Indexed Segments with Performance Caps with Annual Locks**. For an Indexed Segment with Annual Locks, the Performance Rate will be calculated in the same manner as without Annual Locks (see discussion above), except it will be calculated on each Index Anniversary Date. The performance will NOT be credited to or deducted from the Indexed Segment, however, until the End Date of the Indexed Term (at the end of the 6<sup>th</sup> year). The amount of the performance credited or deducted from the Indexed Segment on the End Date equals the sum of the annual performance amounts on each Indexed Anniversary Date, adjusted for any withdrawals, transfers, or annuitization. On the first Indexed Anniversary Date, the performance equals the Performance Rate change multiplied by the Indexed Crediting Base. This performance amount is added to or deducted from the Indexed Crediting Base. This adjusted Indexed Crediting Base becomes the Indexed Crediting Base for the next one-year period. On each Indexed Anniversary Date thereafter, the return for the year is credited to or deducted from the Indexed Crediting Base and the adjusted Indexed Crediting Base carries over to the next one-year period. As a result, a loss you incur in one year will reduce the amount invested for the next year. In a continuing down market, you could lose in excess of the applicable Protection Level. For example, if the Protection Level is 10%, in a continuing down market, you could lose more than 90% of your investment. On the other hand, a gain you incur in one year will increase the Indexed Crediting Base for the next year, upon which future gains (if any) will be calculated. The Segment Ending Value will equal the value of the Indexed Crediting Base on the End Date (after the adjustment for performance on the last Indexed Anniversary Date).

The Indexed Crediting Base is used only to calculate the performance of Indexed Segments on the Indexed Anniversary Date and to calculate the Interim Value. This amount is not available for surrender, withdrawal, transfer, annuitization or as a Death Benefit. In addition to the Indexed Crediting Base adjustment for performance, withdrawals and transfers reduce the Indexed Crediting Base in the same proportion that withdrawals and transfers reduce the Interim Value.

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The initial Performance Cap applies to the initial Indexed Term. The Company will declare, at its discretion, a Performance Cap for each subsequent Indexed Term. Subsequent Performance Caps may differ from the Performance Cap used for new Contracts or for other Contracts issued at different times. If no Performance Cap is declared for an Indexed Term, there is no maximum Performance Rate for that Indexed Term. **In no event will a Performance Cap be lower than what is shown in Appendix A – Investment Options Available Under The Contract.** Information about current Performance Caps can be found at www.lfg.com/llarates and is incorporated in this prospectus by reference.

The following examples illustrate how we calculate the Performance Rate assuming hypothetical Index returns and hypothetical limits

on Index gains and losses. The examples assume no withdrawals.

Indexed Term Segment Start Date = 1/8/2026

Indexed Account = 6-Year with Annual Locks with a 10% annual Performance Cap and 10% Protection Level

Allocation to Indexed Segment = $100,000

Indexed Crediting Base at Beginning of Term = $100,000

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| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Indexed**<br> **Segment**<br> **Anniversary**<br>| &nbsp;&nbsp; **Index %**<br> **Change**<br>| &nbsp;&nbsp; **Indexed Segment**<br> **Performance**<br> **Rate (adjusted for**<br> **Cap or Protection**<br> **Level)**<br>| &nbsp;&nbsp; **Indexed Segment**<br> **Performance**<br> **Amount**<br>| &nbsp;&nbsp; **Adjusted Indexed**<br> **Crediting Base/**<br> **Anniversary**<br> **Value**<br>|
| 1/8/2027 | +7% | +7% | $7000 | $107000 |
| 1/8/2028 | +12% | +10% | $10700 | $117700 |
| 1/8/2029 | -13% | -3% | -$3531 | $114169 |
| 1/8/2030 | -5% | 0% | $0 | $114169 |
| 1/8/2031 | +5% | +5% | $5708 | $119877 |
| 1/8/2032 | +17% | +10% | $11988 | $131865 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Note: The Segment Ending Value is $131,865. The $31,865 (the sum of the values on each Index Anniversary) is not credited to your Contract Value until the end of the 6-year Indexed Term. Until the end of the Indexed Term, with an Annual Lock account, the Interim Value calculation applies. The anniversary amounts are not available to you and are used only for calculation purposes as the Indexed Crediting Base for the next year.

Depending on market conditions, Performance Caps on subsequent 6-year Indexed Terms with Annual Locks may be higher or lower than the initial Performance Cap. The Company will determine new Performance Caps on a basis that does not discriminate unfairly within any class of contracts.

**Indexed Segments with Performance Trigger Rate.** The Performance Trigger Rate is a rate of return for an Indexed Segment that we declare at the beginning of the Indexed Term that is used to determine the Segment Ending Value if the Index return for the Indexed Term is zero or positive. For example, if the Index return is 12%, and the Performance Trigger Rate is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%. Alternatively, if the Index return is 1%, and the Performance Trigger Rate is 4%, we will credit 4% interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%.

The Performance Trigger Rate may vary depending on the Index, the Indexed Term length, and the Protection Level you select. Typically, Indexed Segments with greater Protection Levels have lower Performance Trigger Rates. The Performance Trigger Rate will not change during the Indexed Term unless *Secure Lock*+<sup>®</sup> is elected.

The initial Performance Trigger Rate applies to the initial Indexed Term. The Company will declare, at its discretion, a Performance Trigger Rate for each subsequent Indexed Term. Subsequent Performance Trigger Rates may differ from the Performance Trigger Rate used for new Contracts or for other Contracts issued at different times. **In no event will a Performance Trigger Rate be lower than what is shown in Appendix A – Investment Options Available Under The Contract.** Information about current Performance Trigger Rates can be found at www.lfg.com/llarates and is incorporated into this prospectus by reference.

The Performance Rate is the percentage change in the Index Value from the Start Date to the End Date, adjusted by the Protection Level and subject to the Performance Trigger Rate. The Performance Rate can be positive, negative, or zero. The percentage change in the Index Value is calculated by subtracting the Index Value on the Start Date from the Index Value on the End Date, and the difference is divided by the Index Value on the Start Date. If the percentage change of the Index Value is greater than or equal to zero on the End Date, the Performance Rate is equal to the Performance Trigger Rate. The daily Index Value is posted on the Index's website. If an Index Value is not published for a particular day, we will use the Index Value at the close of the next Valuation Date the Index Value is published.

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If you have a Protection Level and the percentage change in the Index Value is less than zero, then the Performance Rate is the lesser of 1) 0%, or 2) the percentage change in the Index Value plus the Protection Level.

The amount credited to or deducted from the Indexed Segment is equal to the Performance Rate multiplied by the Indexed Crediting Base on the End Date. This will be used to determine the Segment Ending Value. The Indexed Crediting Base is the amount you have allocated to the Indexed Segment, less any withdrawals during the Indexed Term deducted proportionately by the amount that the withdrawal reduced the Interim Value. Withdrawals include any applicable surrender charge, premium tax or rider fees and charges. If the Performance Rate is positive, the value of your Indexed Segment will increase. If the Performance Rate is negative (after calculation including the Protection Level), the value of your Indexed Segment is reduced. If the Performance Rate is zero, the value of your Indexed Segment will not change.

The following examples illustrate how we calculate the Performance Rate assuming hypothetical Index returns and hypothetical limits on Index gains and losses. The example assumes no withdrawals.

![](img961c64022.jpg)

The Indexed Crediting Base is used only to calculate the performance of Indexed Accounts on the End Date, and to calculate the Interim Value. This amount is not available for surrender, withdrawal, reallocation, annuitization or as a Death Benefit.

Depending on market conditions, subsequent Performance Trigger Rates may be higher or lower than the initial Performance Trigger Rate. Subsequent Performance Trigger Rates may differ from the Performance Trigger Rate used for new Contracts or for other Contracts issued at different times. The Company will determine new Performance Trigger Rates on a basis that does not discriminate unfairly within any class of contracts. If *Secure Lock*+<sup>®</sup> has been elected, see the *Secure Lock*+<sup>®</sup> section below for additional information.

**Indexed Segments with Dual Performance Trigger Rate.** The Dual Performance Trigger Rate is a rate of return for an Indexed Segment that we declare at the beginning of the Indexed Term. It is used, in part, to determine the Segment Ending Value.

The Dual Performance Trigger Rate may vary depending on the Index, the Indexed Term, and the Protection Level you select. Typically, Indexed Segments with greater Protection Levels have lower Dual Performance Trigger Rates.

The initial Dual Performance Trigger Rate applies to the initial Indexed Term. The Company will declare, at its discretion, a Dual Performance Trigger Rate for each subsequent Indexed Term, if any. Subsequent Dual Performance Trigger Rates may differ from the Dual Performance Trigger Rate used for new Contracts or for other Contracts issued at different times. **In no event will a Dual Performance Trigger Rate be lower than what is shown in Appendix A – Investment Options Available Under The Contract.** Information about current Dual Performance Trigger Rates can be found at www.lfg.com/llarates and is incorporated into this prospectus by reference.

The Performance Rate is the percentage change in the Index Value from the Start Date to the End Date, adjusted by the Protection Level and the Dual Performance Trigger Rate. The Performance Rate can be positive, negative, or zero. The percentage change in the Index Value is calculated by subtracting the Index Value on the Start Date from the Index Value on the End Date, with the difference

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then divided by the Index Value on the Start Date. The daily Index Value is posted on the Index's website. If an Index Value is not published for a particular day, we will use the Index Value at the close of the next Valuation Date the Index Value is published.

If the percentage change of the Index Value is greater than or equal to zero on the End Date, the Performance Rate is equal to the Dual Performance Trigger Rate. For example, if the Index return is 12%, and the Dual Performance Trigger Rate is 8%, we will credit 8% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 8%. If the percentage change in the Index Value is less than zero but within the Protection Level, the Performance Rate is equal to the Dual Performance Trigger Rate. For example, if the Index return is -5%, the Protection Level is 10% and the Dual Performance Trigger Rate is 8%, we will credit 8% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 8%. If the percentage change in the Index Value is negative and beyond Protection Level, the Performance Rate is the percentage change in the Index Value, plus the Dual Performance Trigger Rate, plus the Protection Level. The Performance Rate could be negative. For example, if the Index return is -20%, the Protection Level is 10% and the Dual Performance Trigger Rate is 8%, we will deduct 2% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will decrease by 2%.

The amount credited to or deducted from the Indexed Segment is equal to the Performance Rate multiplied by the Indexed Crediting Base on the End Date. This will be used to determine the Segment Ending Value. The Indexed Crediting Base is the amount that you have allocated to the Indexed Segment, less any transfers or withdrawals during the Indexed Term deducted proportionately by the amount that the transfers or withdrawals reduced the Interim Value. Withdrawals include any applicable surrender charge, premium tax or rider fees and charges. The Performance Rate is used to determine the value credited after all adjustments. If the Performance Rate is positive, the value of your Indexed Segment will increase. If the Performance Rate is negative (after calculation including the Protection Level), the value of your Indexed Segment will be reduced. If the Performance Rate is zero, the value of your Indexed Segment will not change.

The Indexed Crediting Base is used only to calculate the performance of Indexed Accounts on the End Date and to calculate the Interim Value. This amount is not available for surrender, withdrawal, reallocation, annuitization or as a Death Benefit.

The following examples show the Performance Rates assuming an initial Dual Performance Trigger Rate of 6% and a Protection Level of 10%.

![](dualperformancetrig_4.jpg)

Depending on market conditions, subsequent Dual Performance Trigger Rates may be higher or lower than the initial Dual Performance Trigger Rate. Subsequent Dual Performance Trigger Rates may differ from the Dual Performance Trigger Rate used for new contracts or for other contracts issued at different times. The Company will determine new Dual Performance Trigger Rates on a basis that does not discriminate unfairly within any class of contracts. If *Secure Lock*+<sup>®</sup> has been elected, see the *Secure Lock*+<sup>®</sup> section below for additional information.

**Indexed Segments with Dual Plus.** The Dual Plus Indexed Accounts offer a Dual Rate and Performance Cap for an Indexed Segment that we declare at the beginning of the Indexed Term that are both used in determining the Segment Ending Value. The Performance Cap is the maximum Performance Rate that can be credited to the Indexed Segment for an Indexed Term for which it is declared. For example, if the Index return is 60%, and the Performance Cap is 50%, we will credit 50% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 50%. The Performance Cap may vary depending on the Index and the Indexed Term length. The Performance Cap will not change during the Indexed Term. The Dual Rate will not vary depending on the

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Index or the Indexed Term length and will not change from one Indexed Term to the next. Typically, Indexed Segments with Dual Rates have higher Performance Caps.

The initial Performance Cap applies to the initial Indexed Term. The Company will declare, at its discretion, a Performance Cap for each subsequent Indexed Term. If no Performance Cap is declared for an Indexed Term, there is no maximum Performance Rate for that Indexed Term. **In no event will a Performance Cap be lower than what is shown in Appendix A – Investment Options Available Under The Contract.** Information about current Performance Caps can be found at www.lfg.com/llarates and is incorporated into this prospectus by reference.

The Performance Rate equals (1) the Dual Rate if the percentage change of the Index Value from the Start Date to the End Date for an Indexed Term is zero, or is positive and equal to or less than the Dual Rate; or (2) the percentage change up to the Performance Cap if the percentage change is higher than the Dual Rate; or (3) the Performance Cap if the percentage change is higher than the Performance Cap; or (4) the percentage the Index has decreased plus the Dual Rate, if the Index Value at the end of the Indexed Term is less than the Index Value at the beginning of the Indexed Term. If the Performance Rate is negative, the value of your Indexed Segment is reduced.

The amount credited to or deducted from the Indexed Segment, is equal to the Performance Rate multiplied by the Indexed Crediting Base on the End Date. This will be used to determine the Segment Ending Value as set forth below. The Indexed Crediting Base is the amount that you have allocated to the Indexed Segment, less any transfers or withdrawals during the Indexed Term deducted proportionately by the amount that the transfer or withdrawal reduced the Interim Value. Withdrawals include any applicable surrender charge, premium tax, or rider fees and charges. The Performance Rate is used to determine the value credited after all adjustments.

The Performance Rate is the percentage change in the Index Value from the Start Date to the End Date, adjusted by the Dual Rate and Performance Cap Rate. The percentage change is calculated by subtracting the Index Value as of the beginning of the Indexed Term from the Index Value at the end of the Indexed Term. The difference is then divided by the Index Value as of the beginning of the Indexed Term.

The Segment Ending Value on the End Date is equal to the sum of A plus (A multiplied by B) where:

A = the Indexed Crediting Base on the End Date and

B = the Performance Rate.

The Indexed Crediting Base is used only to calculate the performance of Indexed Accounts on the End Date and to calculate the Interim Value. This amount is not available for surrender, withdrawal, transfer, annuitization or as a Death Benefit.

The following examples illustrate how we calculate and Performance Rate assuming hypothetical Index returns and hypothetical limits on Index gains and losses. The examples assume no withdrawals.

The following examples show the Performance Rates assuming a Dual Rate of 15% and an initial Performance Cap of 75%.

![](dual15_2.jpg)

Depending on market conditions, subsequent Performance Caps may be higher or lower than the initial Performance Cap. Subsequent Performance Caps may differ from the Performance Cap used for new Contracts or for other Contracts issued at different times. The Company will determine new Performance Caps on a basis that does not discriminate unfairly within any class of contracts.

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**Protection Methods**. For Indexed Accounts with a Protection Level, the Protection Level is the portion of any negative Index performance that will not impact your Contract Value if you remain invested until the End Date of the Indexed Segment. For example, if the Index return is -15% and you have a 10% Protection Level, your Contract Value will not be impacted by the first 10% of negative Index performance and we will deduct 5% at the end of the Indexed Term. Your Contract Value will not be impacted up to the amount of the Protection Level you elect, and, after that, you will be impacted for the remaining portion of the loss. This loss will reduce the amount of your investment (principal) in the Indexed Segments. The Contract offers Indexed Accounts with Protection Levels that protect you against losses of 10% to 25%. If you choose an Indexed Account with Performance Cap or Performance Trigger Rate and a 10% Protection Level, your Contract Value will not be impacted by the first 10% of negative Index performance if you stay invested until the End Date of the Segment. Any remaining negative percentage will be absorbed by you. If an Indexed Account with Annual Locks is selected, the Protection Level is the percentage of the Index loss that will not impact your Indexed Crediting Base each year during the Indexed Term.

The Protection Level is not available on Dual Plus Indexed Accounts, but the Dual Rate itself may provide some protection from Index loss, as discussed below.

**The following examples illustrate how we calculate and credit interest assuming hypothetical Index returns and hypothetical lim**

**its on Index gains and losses. The examples assume no withdrawals.** 

For example:

Indexed Term Segment Start Date = 1/8/2026

Indexed Account = 1-Year Indexed Account with a 10% Protection Level

Index Value at beginning of term = 1,569

Indexed Crediting Base = $100,000

Indexed Term Segment End Date = 1/8/2027

Index Value at End Date = 1,333

Index Value percentage change = -15% ((1,333 – 1,569) / 1569)

Indexed Segment Ending Value = $95,000 ($100,000 - $5,000)

Because your Contract Value is not impacted by the first 10% of the loss, you only experience a 5% loss (-15% Index Value per

centage change + 10% Protection Level = 5% loss) or $100,000 \* 5.00% = $5,000.

The following year assuming you chose a new 1-Year Segment with a 10% Protection Level:

(The Indexed Segment Ending Value is used to establish the Indexed Crediting Base for the new Indexed Segment.)

Indexed Term Segment Start Date = 1/8/2027

Indexed Crediting Base = $95,000

Indexed Term Segment End Date = 1/8/2028

Index Value at End Date = 1,298

Index Value percentage change = -3% ((1,298 – 1,333)/1,333)

Indexed Segment Ending Value = $95,000 ($95,000 - $0)

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Because your Contract Value is not impacted by the first 10% of the loss, you experience no loss of Contract Value for this Segment because the Index Value percentage change was less than the 10% Protection Level.

![](imgbda061e23.jpg)

For the Dual Performance Trigger Indexed Accounts, the Protection Level is used to determine the Performance Rate on the End Date of the Segment when there is negative Index performance. If the percentage change in the Index Value is negative but within the Protection Level, the Performance Rate is equal to the Dual Performance Trigger Rate. However, if the percentage change in the Index Value has decreased by a greater percentage than the Protection Level then the amount of your investment in the Indexed Segment may be reduced. The Performance Rate would equal the percentage change in the Index Value, plus the Dual Performance Trigger Rate, plus the Protection Level. The amount of loss or gain is dependent on the percentage change in the Index Value, the Dual Performance Trigger Rate and the Protection Level on the Indexed Segment.

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The following examples show the Performance Rate(s) based on the percentage change in the Index Value using a 6% Dual Performance Trigger Rate.

![](img9781b2894.jpg)

Dual Plus accounts do not include a Protection Level, but the Dual Rate itself may provide some protection. If Index performance is down, your Performance Rate equals the Index performance plus the Dual Rate which may result in either a negative or positive return. For example, if the Index return is -10% and you have a Dual Rate of 15%, we will credit 5% in interest at the end of the Indexed Term. If the Index return is -20% and you have a Dual Rate of 15%, we will deduct 5% in interest at the end of the Indexed Term.

The following examples show the Performance Rate(s) based on the percentage change in the Index Value and using a Dual Rate of 15%.

![](img838c2ce65.jpg)

**Crediting Method Considerations.** We determine Performance Caps, Performance Trigger Rates and Dual Performance Trigger Rates for each new Indexed Segment at our discretion, subject to the guaranteed minimums. We consider a number of factors when declaring Performance Caps, Performance Trigger Rates and Dual Performance Trigger Rates. Generally, we seek to manage our risk associated with our obligations, in part, by trading call and put options and other derivative instruments on the available Indices. The costs of these instruments impact the rates we declare, and those costs can be impacted by the market conditions and forces. We also consider sales commissions, administrative expenses, regulatory and tax requirements, general economic trends and competitive factors. You bear the risk that we may declare lower Performance Caps, Performance Trigger Rates and Dual Performance Trigger Rates for

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future Indexed Segments, and that such rates could be as low as the guaranteed minimum for that Indexed Account. Rates offered for new Indexed Segments may be different from those offered to new investors or offered to you at Contract issuance.

You should choose a Crediting Method that is consistent with your risk tolerance and investment objectives. Generally, assuming the same Index and Indexed Term length, an Indexed Account that provides less potential for Index gains will tend to have more protection from Index losses. Conversely, assuming the same Index and Indexed Term length, an Indexed Account that provides more potential for Index gains will generally tend to have less protection from Index losses.

● If you choose an Indexed Segment with a Performance Cap, and there is positive Index performance, the Performance Rate we apply on the Indexed Segment End Date could be less than the actual Index performance. If the actual Index performance is greater than the Performance Cap, your Performance Rate will be lower, possibly significantly lower, than the actual Index return.

● If you choose an Indexed Segment with a Performance Trigger Rate, and there is positive Index performance, the Performance Rate on the Indexed Segment End Date, could be lower, possibly significantly lower, than the actual Index return.

● If you choose an Indexed Segment with an Annual Lock, and there is positive Index performance, the Performance Rate on the Indexed Segment End Date could be lower, possibly significantly lower, than the actual Index return.

● If you choose an Indexed Segment with a Dual Performance Trigger Rate, and there is positive Index performance, the Performance Rate on the Indexed Segment End Date could be lower, possibly significantly lower, than the actual Index return.

● If you choose an Indexed Segment with a Dual Rate and Performance Cap, and there is positive Index performance, the Performance Rate we apply on the Indexed Segment End Date could be less than the actual Index performance. If the actual Index performance is greater than the Performance Cap, your Performance Rate will be lower, possibly significantly lower, than the actual Index return.

**Protection Method Considerations.** We set the limit on Index losses for each Indexed Account at our sole discretion. We consider various factors in determining the limit on Index losses, including the cost of our risk management techniques, sales commissions, administrative expenses, regulatory and tax requirements, general economic trends and competitive factors.

You should choose a level of protection that is consistent with your risk tolerance and investment objectives. Generally, assuming the same Index and Indexed Term, an Indexed Account that provides more protection from Index losses will tend to have less potential for Index gains. Conversely, assuming the same Index and Indexed Term, an Indexed Account that provides less protection from Index losses will generally tend to have more potential for Index gains.

● For accounts with a Performance Cap (with the exclusion of Dual Plus), or Performance Trigger Rate, if there is negative Index performance, we absorb the first portion of the negative performance up to the stated percentage and you bear the risk of loss after your chosen Protection Level, including the loss of any previously credited amount.

● For accounts with a Dual Performance Trigger Rate, if there is negative Index performance, we absorb the first portion of the negative Index performance up to the stated percentage of the Protection Level. If there is negative Index performance beyond the Protection Level, we continue to absorb the portion of the negative Index performance up to the stated percentage of the Dual Performance Trigger Rate. For example, if the Dual Performance Trigger Rate is 5%, we would absorb the first 5% of loss beyond the Protection Level. You bear the risk of loss thereafter, including the loss of any previously credited amount.

● For accounts with a Dual Rate, if the Index performance is negative, your Performance Rate equals the Index performance plus the Dual Rate, which may result in either a negative or positive return.

**Reallocation.** You will be notified 25 days prior to each Indexed Anniversary Date regarding the timing of investing in new Indexed Segments. The available Indexed Accounts and applicable Crediting Methods and Protection Methods will be provided at least 5 business days in advance of the Indexed Anniversary Date on your online account or by calling 1-877-737-6872. To view the available Indexed Segments and the applicable rates, log in to your account at www.LincolnFinancial.com and select Account Reallocation under Account Management. Current rates can also be found at www.lfg.com/llarates and are incorporated into this prospectus by reference. If your existing Indexed Segment is at the end of the Indexed Term, you may reallocate the Segment Ending Value to any available Indexed Account. If your existing Indexed Segment is at an Indexed Anniversary during the Indexed Term, you may reallocate the Interim Value to any available Indexed Account. A reallocation request must be received on or before the Indexed Anniversary Date or Indexed Term End Date, as applicable. We will hold reallocation instructions for up to 25 calendar days prior to the Indexed Anniversary Date. The reallocation will take place on the Indexed Anniversary Date. If we do not receive a reallocation notice from you, all Indexed Segments that are ending will invest into a new Indexed Segment with the same term, Index, and Protection Method as the Indexed Segment in which they were previously invested and with the Crediting Method rate applicable to a new Indexed Term. If the same type of Indexed Segment is no longer available, the funds will be moved to the 1-Year S&P 500<sup>®</sup> Price Return Index with Performance Cap, 10% Protection, and will not be eligible for allocation into another Indexed Account until the next Indexed Anniversary Date. The following chart outlines possible reallocations among Indexed Accounts at the end of an Indexed Term or as described under *Secure Lock*+<sup>®</sup>. Indexed Terms of the same term length must have the same Start Date.

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| | | |
|:---|:---|:---|
| **Reallocating To** | **Reallocating From** | **Reallocating From** |
| **Reallocating To** | **1-Year Term** | **6-Year Term** |
| 1-Year Term | &nbsp;&nbsp; Allowed on any<br> Indexed Anniversary Date<br>| &nbsp;&nbsp; Allowed on any<br> Indexed Anniversary Date<br>|
| 6-Year Term | &nbsp;&nbsp; Allowed only on every 6<sup>th</sup> <br>Indexed Anniversary Date<br>| &nbsp;&nbsp; Allowed only on every 6<sup>th</sup> <br>Indexed Anniversary Date<br>|

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Interim Value.** The Interim Value is a daily value we calculate to provide you with a value of your Indexed Segment after the Start Date and before the End Date of an Indexed Term. The Contract Value for an Indexed Segment is equal to the Interim Value on each Valuation Date except the End Date. The Interim Value is used to calculate amounts available for withdrawal, surrender (including any applicable surrender charge, premium tax or rider fees and charges), reallocation, annuitization or payment of a death claim for each day during an Indexed Term other than the End Date. The Interim Value also is used to determine how much the Indexed Crediting Base will be reduced after a withdrawal. See Surrenders and Withdrawals. Once you reach the End Date of the Indexed Term, there is no Interim Value, and the actual performance will be credited to or deducted from your Indexed Segment based on the Performance Rate associated with the Crediting Methods you have chosen. The Interim Value calculation will vary depending on the Indexed Account selected and whether *Secure Lock*+<sup>®</sup> has been elected.

The Interim Value calculation is designed to represent the fair value of the Indexed Segment on each business day, taking into account the potential gain or loss of the applicable Index at the end of the Indexed Term, including the impacts of the Crediting Method you have chosen. The calculation is also designed to reflect the change in fair value due to economic factors, including, but not limited to, the impact of market rates, volatility, and correlation (if applicable) of the investment instruments supporting the Contract. The Interim Value is based on this calculation and not the actual value of any underlying investments or the current value of any Index.

The specifics of the Interim Value calculation are located in the Statement of Additional Information.

If you withdraw Contract Value prior to the End Date of an Indexed Term, the withdrawal will cause an immediate reduction in your Crediting Base in a proportion equal to the reduction in your Interim Value. A proportional reduction could be larger than the dollar amount of your withdrawal. Reductions in your Crediting Base will negatively impact your Interim Value for the remainder of the Indexed Term and will result in a lower Segment Ending Value at the end of the Indexed Term. **Under extreme conditions a negative Contract Adjustment based on Interim Value could result in a loss of up to 100% of your Contract Value.** Such loss can occur even if an Index has increased in value. This means your Interim Value could reflect negative performance, even if the Index Value has increased. Once your Crediting Base is reduced due to a withdrawal during any Indexed Term, you cannot increase it during the remainder of the Indexed Term unless *Secure Lock*+<sup>®</sup> is exercised. The Interim Value and Indexed Crediting Base are available on your online account or by calling us at 1-877-737-6872.

Refer to the Surrender and Withdrawal section for information about the Interim Value and how surrenders or withdrawals are calculated.

***Secure Lock*+**<sup>®</sup> 

On any Valuation Date, excluding an Indexed Anniversary Date, one time each year between an Indexed Term Start Date and Indexed Term End Date, you may request to lock the Interim Value of any unlocked Indexed Segments ("*Secure Lock+*<sup>®</sup>"). You can obtain the current Interim Value by calling 1-877-737-6872 or by logging into your account at www.LincolnFinancial.com. This value fluctuates daily and is calculated at the end of each business day and may be more or less than the value quoted earlier. The Interim Value as calculated as of the close of that Valuation Date will be locked in and once enacted, each singular lock-in is irrevocable. Once locked, the Indexed Segment's Interim Value will not change until the next Indexed Anniversary Date (except any withdrawal made once the Interim Value is locked will reduce the locked value by the dollar amount of the withdrawal). If you request a lock-in when the Interim Value is below your Crediting Base, Protection Levels do not apply and you assume all loss of Indexed Account Value. **If you have elected to lock-in and the value of the Interim Value supporting the Index Segment would have otherwise increased since the lock-in, you will not be able to take advantage of the increase that Contract Year.** In addition, Interim Values that have been locked do not earn any interest while locked. *Secure Lock*+<sup>®</sup> is not available for Annual Lock or Dual Plus Indexed Accounts. If you request a lock-in of the Interim Value, you are not locking the actual Index performance, since the Interim Value is not based on the value of the Index but the fair market value of the portfolio of investment instruments supporting the Indexed Segment.

A request to lock the Interim Value may be made before 4:00 p.m. Eastern Standard Time (i.e. before market close) on any Valuation Date (in order to be processed that Valuation Day), one time between each Contract Year, prior to the Indexed Segment End Date; however, a lock cannot be processed on an Indexed Anniversary Date. You will not know the locked Interim Value until the next Valuation Date. Any request made after 4:00 p.m. Eastern Standard Time (i.e. after market close) or on a day other than a Valuation Date will take effect as of the market close on the following Valuation Date.

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If you choose to lock the Interim Value of a 1-Year Term Indexed Segment, you will remain in that Indexed Segment and the locked in Interim Value will not change (unless a withdrawal is taken), and no fixed interest will be credited from the date of the lock-in to the Term End Date. If you choose to lock the Interim Value of a 6-Year Term Indexed Segment, you will remain in that Indexed Segment and the locked in Interim Value will not change (unless a withdrawal is taken), and no fixed interest will be credited from the date of the lock-in to the Reset Date. On the next Indexed Anniversary Date (if this is not the End Date of the Segment), we will reset the crediting rate for that Indexed Segment, and reset the beginning Index Value and the Segment's Crediting Base to its locked Interim Value (reduced by the dollar amount of any applicable withdrawals, surrender charges, taxes, rider fees and charges), and the Interim Value will begin calculating daily again. These reset values are used in calculating the Segment Ending Value on the End Date of the Indexed Term unless another lock-in is requested, in which case a new crediting rate, beginning Index Value, and Crediting Base would be established following that lock-in. The Protection Level percentage associated with the Segment will not change. If the Indexed Anniversary Date after the lock-in is the End Date, then the Segment Ending Value equals the Interim Value (reduced by the dollar amount of any applicable withdrawals, surrender charges, taxes, riders fees and charges).

In addition, the Reset Rate may limit a positive Index return if you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+<sup>®</sup>. We will reset the Indexed Segment Performance Cap rate, Performance Trigger Rate, or Dual Performance Trigger Rate for the remainder of the Indexed Term following the lock, and these Reset Rates may be lower than the original rates. For example, if the Performance Cap is 4% and you choose to lock in the Interim Value, then on the next Indexed Anniversary date, we could reset the Performance Cap for the remaining Indexed Term to 2%. If the Index return at the end of the Indexed Term is 12%, we will credit 2% in the interest on the End Date of the Indexed Segment.

**Please note:** Once your Interim Value is locked in, we will automatically reset your crediting rate on the next Indexed Anniversary Date unless you have elected to reallocate to another available Indexed Account.

The Reset Rate will be available online (or by phone) 10 days prior to the Indexed Anniversary date. The minimum Reset Rate is 3.50%. Current Reset Rates can be found at www.lfg.com/RILAresetrates and are incorporated into this prospectus by references. Additionally, to view rates for the available Indexed Accounts, log in to your account at www.LincolnFinancial.com and select *Secure Lock+*<sup>®</sup> under Account Management. You should carefully consider whether and when to elect a *Secure Lock+*<sup>®</sup> of your Interim Value. A lock-in may only be requested once per Contract Year during an Indexed Term and is irrevocable. Your locked-in value at the end of the Indexed Term could be less than if you chose not to lock-in. **If you request a lock-in when the Interim Value is below the Indexed Crediting Base, Protection Levels do not apply and you assume all losses of Indexed Account Value.** 

It is possible to utilize the *Secure Lock+*<sup>®</sup> feature and lock-in when the Interim Value is down. Careful consideration must be given before choosing to do this since you would be locking in the full decline in the Interim Value without the benefit of the Protection Level. While potential continued losses in the Interim Value would cease until the next Indexed Anniversary Date, the existing losses would be realized with no guarantee that the Segment would experience any future gains to offset this loss. Below are examples of locking in an Interim Value higher than the Crediting Base and lower than the Crediting Base.

**Locking in an Interim Value Higher than the Crediting Base** 

1/1/2026 Crediting Base is $100,000

4/1/2030 Interim Value is $120,000

4/1/2030 The Contractowner decides to lock-in the $120,000 Interim Value

5/1/2030 Crediting Base is reset to $120,000

**Locking in an Interim Value Lower than the Crediting Base** 

1/1/2026 Crediting Base is $100,000

4/1/2030 Interim Value is $90,000

4/1/2030 The Contractowner decides to lock-in the $90,000 Interim Value

5/1/2030 Crediting Base is reset to $90,000

Additionally, you assume the risk that your Reset Rate may not be known when you request a lock-in, and the Reset Rate may be significantly lower than the rate prior to the lock-in. As less time remains in your Indexed Term, you should expect the Reset Rate to be

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lower, possibly much lower. For example, assuming a 6-year term with a Performance Cap of 300%, if you choose to lock-in three months before the end of the Indexed Term, your rate is based on only two remaining months.

![](imgfa6b52f56.jpg)

**Discontinuation or Substitution of an Index.** We have the right to discontinue or substitute an existing Index for a comparable Index prior to the Indexed Segment End Date for reasons, such as, but not limited to:

● An Index is discontinued;

● We are engaged in a contractual dispute with the Index provider;

● We determine that our use of an Index should be discontinued because, for example, changes to the Index make it impractical or expensive to purchase securities or derivatives to hedge the Index;

● There is a substantial change in the calculation of an Index, resulting in significantly different values and performance; or

● A legal reason we cannot offer the Index.

Although we will attempt to choose a new Index that has a similar investment objective and risk profile to the existing Index, there is risk that the performance of the new Index may not be as good as the performance of the existing Index. As a result, funds allocated to the substituted Index may earn a return that is lower than the return they would have earned if the Index were not substituted. If we substitute an Index, we will notify you at least 30 days in advance of the substitution.

We would attempt to choose a new Index that has a similar investment objective and risk profile to the original Index. The selection criteria for a suitable alternative Index includes, but is not limited to, the following:

● There is a sufficiently large market in exchange traded and/or over-the-counter options, futures and similar derivative instruments based on the Index to allow the company to hedge crediting rates;

● The Index is recognized as a broad-based Index for the relevant market;

● We can offer the same Crediting Method or Protection Method on the substitute Index; and

● The publisher of the Index permits the use of the Index in the Contract and other materials for a reasonable fee.

If we substitute an Index during an Indexed Term, we will combine the return of the replaced Index from the Indexed Start Date to the substitution date with the return of the new Index from the substitution date to the end of the Indexed Term. The Indexed Term, and all applicable rates for the affected Indexed Segment, including the Crediting Method or Protection Method will not change due to the substitution of an Index during the Indexed Term.

If an Index is discontinued and a similar Index cannot be found or if we cannot offer the same Crediting Method or Protection Method, the Indexed Segment will end and the Interim Value on the Valuation Date the Index is discontinued will be used. Lincoln will move the funds into another available Indexed Segment of our choosing, and the funds will not be eligible for allocation into another Indexed Account until the next Indexed Anniversary Date.

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**Charges and Adjustments** 

We will deduct the charges described below to cover our costs and expenses, services provided and risks assumed under the contracts. We incur certain costs and expenses for the distribution and administration of the contracts and for providing the benefits payable thereunder.

**Our administrative services include:** 

● processing applications for and issuing contracts;

● processing purchases and redemptions from Indexed Accounts as required (including automatic withdrawal services if available – See Additional Services and the SAI for more information on this program);

● maintaining records;

● administering Annuity Payouts;

● furnishing accounting and valuation services (including the calculation and monitoring of daily Indexed Contract Values and Interim Values);

● reconciling and depositing cash receipts;

● providing contract confirmations;

● providing toll-free inquiry services; and

● furnishing telephone and other electronic surrenders, withdrawals and reallocations.

**The risks we assume include:** 

● the risk that Annuitants upon which Annuity Payouts are based live longer than we assumed when we calculated our guaranteed rates (these rates are stated in the Contract and cannot be changed);

● the risk that more Contractowners than expected will qualify for waivers of the surrender charge;

● the risk that our costs in providing the services will exceed our revenues from contract charges (which we cannot change);

● the risks related to supporting and replicating Indexed Account performance with our assets.

The amount of a charge may not necessarily correspond to the costs associated with providing the services or benefits indicated by the description of the charge. For example, any applicable surrender charges may not fully cover all of the sales and distribution expenses actually incurred by us. Any remaining expenses will be paid from our general account which may consist, among other things, of proceeds derived from the base contract expenses deducted from the account. We may profit from the charges deducted under the Contract and from amounts earned on the Indexed Accounts. We may use these profits for any corporate purpose, including financing the distribution of the Contracts.

Obligations under the Contracts that are funded by our general account include 1) the obligation to pay Death Benefits that exceed the Contract Value; 2) the obligation to pay Annuity Payouts that exceed the Contract Value; and 3) our obligations under the Indexed Accounts. Payment of these benefits and obligations is subject to our claims-paying ability and financial strength. We are also responsible for providing for all of the administrative services necessary in connection with the Contract (and bearing all of the associated expenses).

**Surrender Charge** 

A surrender charge applies (except as described below) to surrenders and withdrawals of the Purchase Payment that has been invested for the period below. The contract anniversary is the annually occurring date beginning with the effective date of the Contract. For example, if the effective date of your Contract is January 2<sup>nd</sup>, your contract anniversary would be on January 2<sup>nd</sup> of each subsequent year.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Number of contract anniversaries since Purchase Payment was invested** | **Number of contract anniversaries since Purchase Payment was invested** | **Number of contract anniversaries since Purchase Payment was invested** | **Number of contract anniversaries since Purchase Payment was invested** | **Number of contract anniversaries since Purchase Payment was invested** | **Number of contract anniversaries since Purchase Payment was invested** | **Number of contract anniversaries since Purchase Payment was invested** |
|  | **0** | **1** | **2** | **3** | **4** | **5** | **6** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Surrender charge as a percentage <br> of the surrendered or <br> withdrawn Purchase Payment<br>| &nbsp;&nbsp; 7<br> %<br>| &nbsp;&nbsp; 7<br> %<br>| &nbsp;&nbsp; 6<br> %<br>| &nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp; 3<br> %<br>| &nbsp;&nbsp; 0<br> %<br>|

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**A surrender charge does not apply to**:

● A surrender or withdrawal of a Purchase Payment beyond the sixth anniversary;

● Withdrawals of Contract Value during a Contract Year to the extent that the total Contract Value withdrawn during the current Contract Year does not exceed free amount. The free amount is equal to 10% of the current Contract Value. This free amount exception does not apply upon surrender of the Contract;

● Purchase Payment used in the calculation of the initial benefit payment to be made under an Annuity Payout option;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● A surrender or withdrawal of the Purchase Payment, as a result of permanent and total disability of the Contractowner as defined in Section 22(e)(3) of the tax code, if the disability occurred after the effective date of the Contract and before the 65<sup>th</sup> birthday of the Contractowner;

● A surviving spouse, at the time he or she assumes ownership of the Contract as a result of the death of the original owner (however, the surrender charge schedule of the original Contract will continue to apply to the spouse's Contract);

● A surrender or withdrawal of the Purchase Payment, as a result of the admittance of the Contractowner to an accredited nursing home or equivalent health care facility, where the admittance into the facility occurs after the effective date of the Contract and the owner has been confined for at least 90 consecutive days;

● A surrender or withdrawal of the Purchase Payment as a result of the diagnosis of a terminal illness of the Contractowner. Diagnosis of a terminal illness must be after the effective date of the contract and results in a life expectancy of less than one year as determined by a qualified professional medical practitioner;

● A surrender of the Contract as a result of the death of the Contractowner or Annuitant;

● A required minimum distribution (RMD) taken systematically under the Lincoln RMD program, in excess of the free amount;

● Periodic income payments made under any Annuity Payout option made available by us.

**For purposes of calculating the surrender charge on withdrawals, we assume that:** 

1. The free amount will be withdrawn from the Purchase Payment.

2. Any amount withdrawn above the free amount during a Contract Year will be withdrawn in the following order:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● from the Purchase Payment until exhausted; then

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● from earnings until exhausted.

We apply the surrender charge as a percentage of the Purchase Payment, which means that you would pay the same surrender charge at the time of surrender regardless of whether your Contract Value has increased or decreased. The surrender charges associated with surrender or withdrawal are paid to us to compensate us for the loss we experience on contract distribution costs when Contractowners surrender or withdraw before distribution costs have been recovered.

There are charges associated with the surrender of a Contract or withdrawal of Contract Value. You may specify whether these charges are deducted from the amount you request to be withdrawn or from the remaining Contract Value. If the charges are deducted from the remaining Contract Value, the amount of the total withdrawal will increase according to the impact of the applicable surrender charge percentage; consequently, the dollar amount of the surrender charge associated with the withdrawal will also increase. In other words, the dollar amount deducted to cover the surrender charge is also subject to a surrender charge.

If the Contractowner is a corporation or other non-individual (non-natural person), the Annuitant or joint Annuitant will be considered the Contractowner or joint owner for purposes of determining when a surrender charge does not apply.

**Contract Adjustments** 

If you make any withdrawals, surrender or terminate your Contract, reallocate Contract Value from an Indexed Segment, annuitize your Contract or upon payment of a death benefit from an Indexed Segment on any date prior to the Segment End Date, your Contract Value in the Indexed Segment will be its Interim Value. You could lose a significant amount of money due to Contract Adjustments based on Interim Values if amounts are removed from an Indexed Segment prior to the Segment End Date. Your Interim Value may be less than the amount invested and may be less than the amount you would receive had you held the investment in the Indexed Segment until the Segment End Date. Under extreme conditions, a negative Contract Adjustment based on Interim Values could result in a loss of up to 100% of your Contract Value.

The Interim Value calculation is designed to represent the fair value of the Indexed Segment on each business day, taking into account the potential gain or loss of the applicable Index at the end of the Indexed Term, including the impacts of the Crediting Method as well as Protection Method you have chosen. The calculation is also designed to reflect the change in fair value due to economic factors, including, but not limited to, the impact of market rates, volatility, and correlation (if applicable) of the investment instruments supporting the Contract. The Interim Value is based on this calculation and not the actual value of any underlying investments or the current value of any Index. The use of Interim Values transfers risk from us to you to protect us from losses on our investments supporting the Indexed Crediting Rate strategies if amounts are removed prematurely.

For more information about the Interim Value, including examples illustrating the operation of the Interim Values, please see the Statement of Additional Information.

If you withdraw Contract Value prior to the End Date of an Indexed Term, the withdrawal will cause an immediate reduction in your Crediting Base in a proportion equal to the reduction in your Interim Value. A proportional reduction could be larger than the dollar amount of your withdrawal. Reductions in your Crediting Base will negatively impact your Interim Value for the remainder of the Indexed Term and will result in a lower Segment Ending Value at the end of the Indexed Term. Once your Crediting Base is reduced due to a withdrawal during any Indexed Term, you cannot increase it during the remainder of the Indexed Term unless *Secure Lock*+<sup>®</sup> is exercised. The Interim Value and Indexed Crediting Base are available on your online account or by calling us at 1-877-737-6872.

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**Deductions for Premium Taxes** 

Any premium tax or other tax levied by any governmental entity as a result of the existence of the contracts will be deducted from the Contract Value, unless the governmental entity dictates otherwise, when incurred, or at another time of our choosing.

The applicable premium tax rates that states and other governmental entities impose on the purchase of an annuity are subject to change by legislation, by administrative interpretation or by judicial action. These premium tax rates generally depend upon the law of your state of residence. Currently, there is no premium tax levied for New York residents.

**The Contracts**

**Purchase of Contracts** 

If you wish to purchase a Contract, you must apply for it through a registered representative authorized by us. The completed application is sent to us and we decide whether to accept or reject it. If the application is accepted, a Contract is prepared and executed by our legally authorized officers. The Contract is then sent to you either directly or through your registered representative. See Distribution of the Contracts. The purchase of multiple contracts with identical Contractowners, Annuitants and Beneficiaries will be allowed only upon Home Office approval.

**Who Can Invest** 

To apply for a contract, you must be of legal age in a state where the contracts may be lawfully sold and also be eligible to participate in any of the qualified or nonqualified plans for which the contracts are designed. At the time of issue, the Contractowner, joint owner and Annuitant must be under age 86. **Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account in an effort to help the government fight the funding of terrorism and money laundering activities. When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license, photo i.d. or other identifying documents.** 

In accordance with anti-money laundering laws and federal economic sanction policy, the Company may be required in a given instance to reject a Purchase Payment and/or freeze a Contractowner's account. This means we could refuse to honor requests for transfers, withdrawals, surrenders or Death Benefits. Once frozen, monies would be moved from the Indexed Account to an interest-bearing account maintained solely for the Contractowner, and held in that account until instructions are received from the appropriate regulator.

Do not purchase the Contract if you plan to use it, or any of its riders, for speculation, arbitrage, viatical arrangement, or other similar investment scheme. The Contract may not be resold, traded on any stock exchange, or sold on any secondary market.

If you are purchasing the Contract through a tax-favored arrangement, including traditional IRAs and Roth IRAs, you should consider carefully the costs and benefits of the Contract (including annuity income benefits) before purchasing the Contract, since the tax-favored arrangement itself provides tax-deferred growth.

**Replacement of Existing Insurance** 

Careful consideration should be given prior to surrendering or withdrawing money from an existing insurance contract to purchase a Contract described in this prospectus. Surrender charges may be imposed on your existing contract and/or a new surrender charge period may be imposed with the purchase of, or transfer into, this Contract. The benefits offered under this Contract may be less favorable or more favorable than the benefits offered under your current contract. It also may have different charges. You should also consult with your registered representative and/or your tax advisor prior to making an exchange. Cash surrenders from an existing contract may be subject to tax and tax penalties.

**Purchase Payment** 

The minimum Purchase Payment is $25,000. **We do not accept additional Purchase Payments after the Contract has been issued to you.** Accordingly, you will be unable to increase your Contract Value or Death Benefit by making subsequent Purchase Payments. If the Purchase Payment submitted does not meet the minimum amount, we will contact you to ask whether additional money will be sent, or whether we should return the Purchase Payment to you. Any funds received after 45 days from the date you signed your application (or submitted an electronic application) will be returned to you.

If we choose to extend that time period, the 45-day rate hold period will expire and the crediting rates currently in effect would apply. Any funds received after your Contract has been issued will be returned to you. You can find the crediting rates currently in effect at www.lfg.com/llarates or by calling us at 1-877-737-6872.

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You must obtain approval for a Purchase Payment totaling $1 million or more. This amount takes into consideration the total Purchase Payments for all existing *Lincoln Level Advantage*<sup>®</sup>, *Lincoln Level Advantage* 2<sup>®</sup> and *Lincoln Level Advantage 2 Income*<sup>SM</sup> contracts for the same Contractowner, joint owner, and/or Annuitant. At the Company's discretion, this amount may consider total Purchase Payments for all annuity contracts issued by the Company (or its affiliates) for the same Contractowner, joint owner, and/or Annuitant.

**Valuation Date** 

Indexed Segments will be valued once daily at the close of regular trading (normally, 4:00 p.m., Eastern Time) on each day the New York Stock Exchange is open (Valuation Date). On any date other than a Valuation Date, the value of the Indexed Segment will not change.

**Allocation of the Purchase Payment** 

The Purchase Payment will be allocated, according to your instructions, among one or more of the Indexed Accounts available under your Contract. The minimum amount that may be allocated into an Indexed Account is $2,000.

The Contract effective date will be the date on which money is first applied to the Indexed Accounts to establish the initial Indexed Term and will be the Indexed Anniversary Date. After the Indexed Anniversary Date is established, that is the only date each year that allocations can be invested in the Indexed Accounts. Your Contract will be issued, at the earlier of, when the entire Purchase Payment is received or no later than the 45<sup>th</sup> calendar day after the date you signed your application (or submitted an electronic application), provided the minimum Purchase Payment requirement was met. All funds received on or prior to the Contract effective date will be considered your Purchase Payment.

If the last day to issue your contract is not a business day, the Contract effective date and the initial Indexed Value for your Indexed Segments will be the closing value of the next Valuation Date. Excluding February 29<sup>th</sup>, any calendar date can be a Contract Date, Indexed Anniversary Date, or Valuation Date.

The rates for the initial Indexed Segments you selected will be determined based on any applicable crediting rate hold restrictions. For current crediting rate hold restrictions please call us at 1-877-737-6872. Current rates are available on our website at www.lfg.com/llarates.

**Telephone and Electronic Transactions** 

A surrender, withdrawal, or reallocation request may be made to our Servicing Office in writing or by fax. These transactions may also be made by telephone or other electronic means, provided the appropriate authorization is on file with us. In order to prevent unauthorized or fraudulent transfers, we may require certain identifying information before we will act upon instructions. We may also assign the Contractowner a Personal Identification Number (PIN) to serve as identification. We will not be liable for following instructions we reasonably believe are genuine. Telephone and other electronic requests will be recorded and written confirmation of all transactions will be mailed or sent electronically to the Contractowner on the next Valuation Date.

Please note that the telephone and/or electronic devices may not always be available. Any telephone, fax machine, or other electronic device, whether it is yours, your service provider's, or your registered representative's, can experience outages or slowdowns for a variety of reasons. These outages or slowdowns may delay or prevent our processing of your request. Although we have taken precautions to limit these problems, we cannot promise complete reliability under all circumstances. If you are experiencing problems, you should make your request by writing to our Servicing Office.

**Ownership** 

The Contractowner on the date of issue will be the person or entity designated in the contract specifications. The Contractowner of a nonqualified contract may name a joint owner. We reserve the right to limit certain types of ownership structures. Please contact your financial professional for more information.

As Contractowner, you have all rights under the Contract. We reserve the right to approve all ownership and Annuitant changes. A transfer of ownership, or a revocation of transfer, must be provided in a notice to the Servicing Office. When a notice to transfer or revocation is received, any allowable change will take effect as of the date the notice was signed by the Owner, unless otherwise specified by the Owner. The change in ownership is subject to any payments made or any action taken or allowed by us before the transfer or the revocation is received.

This Contract may be assigned or transferred. We will not be bound by any assignment unless notice of the assignment is provided at the Servicing Office. The effective date of the assignment will be the date it is signed by the Owner unless otherwise specified by the Owner. The change is subject to any payments made or actions taken or allowed by us before the assignment is received. We will not be responsible for the validity of any assignment.

Nonqualified contracts may not be sold, discounted, or pledged as collateral for a loan or for any other purpose. Qualified contracts are not transferable unless allowed under applicable law. Nonqualified contracts may not be collaterally assigned. Assignments may

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have an adverse impact on your Death Benefits and may be prohibited under the terms of a particular feature. We assume no responsibility for the validity or effect of any assignment. Consult your tax advisor about the tax consequences of an assignment.

**Joint Ownership** 

If a Contract has joint owners, the joint owners shall be treated as having equal undivided interests in the Contract. Either owner, independently of the other, may exercise any ownership rights in this Contract. Not more than two owners (an owner and joint owner) may be named and contingent owners are not permitted.

**Annuitant** 

The following rules apply prior to the Annuity Commencement Date. You may name only one Annuitant (unless you are a tax-exempt entity, then you can name two joint Annuitants). You (if the Contractowner is a natural person) have the right to change the Annuitant at any time by notifying us in writing of the change. However, we reserve the right to approve all Annuitant changes. This may not be allowed if certain riders are in effect. The new Annuitant must be under age 86 as of the effective date of the change. A contingent Annuitant may be named or changed by notifying us in writing. Contingent Annuitants are not allowed on contracts owned by non-natural owners. On or after the Annuity Commencement Date, the Annuitant or joint Annuitants may not be changed and contingent Annuitant designations are no longer applicable.

**Surrenders and Withdrawals** 

Before the Annuity Commencement Date, we will allow the surrender of the Contract or a withdrawal of the Contract Value upon your written request on an approved Lincoln distribution request form (available from the Servicing Office), fax, or other electronic means approved by Lincoln. Withdrawal requests may be made by telephone, subject to certain restrictions. All surrenders and withdrawals may be made in accordance with the rules discussed below. Surrender or withdrawal rights after the Annuity Commencement Date are not available.

The amount available upon surrender/withdrawal is the Contract Value less any applicable charges, fees, and taxes at the end of the Valuation Period during which the written request for surrender/withdrawal is received in Good Order at the Servicing Office. If we receive a surrender or withdrawal request in Good Order at our Servicing Office before the close of the NYSE (normally 4:00 p.m., Eastern Time), we will process the request from the Interim Value computed on that Valuation Date. If we receive a surrender or withdrawal request in Good Order at our Servicing Office after market close, we will process the request using the Interim Value computed on the next Valuation Date. There may be circumstances under which the NYSE may close early (prior to 4:00 p.m., Eastern Time). In such instances, surrender or withdrawal requests received after such early market close will be processed using the Interim Value computed on the next Valuation Date. The minimum amount which can be withdrawn is $300. Unless a request for withdrawal specifies otherwise, withdrawals will be made proportionately in the following order:

proportionately from Indexed Segments with a one year term (if any);

proportionately from Indexed Segments with a term greater than one year.

Prior to the End Date of the Indexed Segment, an amount equal to the Interim Value of the Indexed Segment is available for surrender or withdrawal. In addition, the Indexed Crediting Base for each individual Indexed Segment is reduced proportionately by the amount that the withdrawal reduced the Interim Value. A proportional reduction could be larger than the dollar amount of the withdrawal. Reductions to your Indexed Crediting Base will negatively impact your Interim Value for the remainder of the Indexed Term and will result in a lower Segment Ending Value at the end of the Indexed Term. You cannot withdraw an amount equal to the Indexed Crediting Base. The following examples show how Indexed the Crediting Base is impacted by a withdrawal.

**Example 1:** 

1/1/2026 Allocation to Indexed Segment = $80,000

1/1/2026 Indexed Crediting Base = $80,000

6/1/2026 Indexed Crediting Base = $80,000; Interim Value = $100,000; Withdrawal = $80,000 (including any applicable surrender charge)

Withdrawal/Interim Value = $80,000 ÷ $100,000 = 80%

Removed Amount from the Indexed Crediting Base = $64,000 (80% of $80,000)

Indexed Crediting Base after withdrawal = $80,000 - $64,000 = $16,000

Interim Value after withdrawal ($100,000 - $80,000) = $20,000

Interim Value calculation going forward and Segment Ending Value will be based on the $16,000 Indexed Crediting Base

**Example 2:** 

Indexed Crediting Base = $16,000; Interim Value = $15,000; Withdrawal = $15,000 (including any applicable surrender charge)

Withdrawal/Interim Value = $15,000 ÷ $15,000 = 100%

Removed Amount from the Indexed Crediting Base = $16,000 (100% of $16,000)

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Indexed Crediting Base after withdrawal = $0

Interim Value after withdrawal = $0 ($15,000 - $15,000)

Note: The $15,000 Interim Value is the maximum that could be withdrawn during the Indexed Term. The Crediting Base is not available for withdrawal or transfer.

There may be surrender charges associated with surrender of a Contract or withdrawal of Contract Value. You may specify whether these charges are deducted from the amount you request to be withdrawn or from the remaining Contract Value. If the charges are deducted from the remaining Contract Value, the amount of the total withdrawal will increase according to the impact of the applicable surrender charge percentage; consequently, the dollar amount of the surrender charge associated with the withdrawal will also increase. In other words, the dollar amount deducted to cover the surrender charge is also subject to a surrender charge. See Surrender Charge.

The tax consequences of a surrender/withdrawal are discussed later in this prospectus. See Federal Tax Matters – Taxation of Withdrawals and Surrenders.

**Benefits Available Under the Contract** 

**The following tables summarize information about the benefits available under the Contract.** A detailed description of each benefit follows the table.

Benefits availability may vary by state of issue or selling broker-dealer. All variations, if material, will be disclosed in the prospectus.

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| | | | |
|:---|:---|:---|:---|
| **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** |
| **Name of Benefit** | **Purpose** | **Maximum Fee** | &nbsp;&nbsp; **Brief Description of Restrictions /** <br> **Limitations**<br>|
| **Account Value Death** <br> **Benefit**<br>| &nbsp;&nbsp; Provides a Death Benefit equal to the <br> Contract Value.<br>| None | &nbsp;&nbsp; ●Poor investment performance could <br> significantly reduce the benefit.<br>●Withdrawals could significantly reduce <br> the benefit.<br>|
| **Automatic Withdrawal** <br> **Service**<br>| &nbsp;&nbsp; Allows you to take periodic withdrawals <br> from your Contract automatically.<br>| None | &nbsp;&nbsp; ●Withdrawals under AWS are subject to <br> applicable surrender charges.<br>●Withdrawals from Indexed Accounts will <br> be processed at a Segment's Interim <br> Value as of the Valuation Date the <br> withdrawal is made unless the <br> withdrawal is processed on the End Date <br> of the Indexed Term.<br>●We reserve the right to discontinue this <br> administrative service at any time.<br>|

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**Death Benefit** 

**The chart below provides a brief overview of how the Death Benefit proceeds will be distributed if death occurs prior to the Annuity Commencement Date. Refer to your Contract for the specific provisions applicable upon death.** 

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| | | | |
|:---|:---|:---|:---|
| **upon death of:** | **and...** | **and...** | **Death Benefit proceeds pass to:** |
| Contractowner | There is a surviving joint owner | The Annuitant is living or deceased | Joint owner |
| Contractowner | There is no surviving joint owner | The Annuitant is living or deceased | Designated Beneficiary |
| Contractowner | &nbsp;&nbsp; There is no surviving joint owner <br> and the Beneficiary predeceases the <br> Contractowner<br>| The Annuitant is living or deceased | Contractowner's estate |
| Annuitant | The Contractowner is living | There is no contingent Annuitant | &nbsp;&nbsp; The youngest Contractowner <br> becomes the contingent Annuitant <br> and the Contract continues. The <br> Contractowner may waive\* this <br> continuation and receive the Death <br> Benefit proceeds. <br>|

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| | | | |
|:---|:---|:---|:---|
| **upon death of:** | **and...** | **and...** | **Death Benefit proceeds pass to:** |
| Annuitant | The Contractowner is living | The contingent Annuitant is living | &nbsp;&nbsp; Contingent Annuitant becomes the <br> Annuitant and the Contract <br> continues<br>|
| Annuitant\*\* | &nbsp;&nbsp; The Contractowner is a trust or <br> other non-natural person<br>| &nbsp;&nbsp; No contingent Annuitant allowed <br> with non-natural Contractowner<br>| Designated Beneficiary |

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\*

Notification from the Contractowner to receive the Death Benefit proceeds must be received within 75 days of the death of the Annuitant.

\*\*

Death of Annuitant is treated like death of the Contractowner.

If the Contractowner (or a joint owner) or Annuitant dies prior to the Annuity Commencement Date, a Death Benefit may be payable. This Death Benefit terminates on the Annuity Commencement Date.

You should consider the following provisions carefully when designating the Beneficiary, Annuitant, any contingent Annuitant and any joint owner, as well as before changing any of these parties. The identity of these parties under the Contract may significantly affect the amount and timing of the Death Benefit or other amount paid upon a Contractowner's or Annuitant's death.

You may designate a Beneficiary during your lifetime and change the Beneficiary by filing a written request with our Servicing Office. Each change of Beneficiary revokes any previous designation. We reserve the right to request that you send us the Contract for endorsement of a change of Beneficiary.

Upon the death of the Contractowner, a Death Benefit will be paid to the Beneficiary. Upon the death of a joint owner, the Death Benefit will be paid to the surviving joint owner. If the Contractowner is a corporation or other non-individual (non-natural person), the death of the Annuitant will be treated as death of the Contractowner.

If an Annuitant who is not the Contractowner or joint owner dies, then the contingent Annuitant, if named, becomes the Annuitant and no Death Benefit is payable on the death of the Annuitant. If no contingent Annuitant is named, the Contractowner (or younger of joint owners) becomes the Annuitant. Alternatively, a Death Benefit may be paid to the Contractowner (and joint owner, if applicable, in equal shares). Notification of the election of this Death Benefit must be received by us within 75 days of the death of the Annuitant. The Contract terminates when any Death Benefit is paid due to the death of the Annuitant.

**Only the Contract Value as of the Valuation Date we approve the payment of the death claim is available as a Death Benefit if a Contractowner, joint owner, or Annuitant was added or changed subsequent to the effective date of this Contract unless the change occurred because of the death of a prior Contractowner, joint owner, or Annuitant. If your Contract Value equals zero, no Death Benefit will be paid.**

**Account Value Death Benefit.** The Account Value Death Benefit provides a Death Benefit equal to the Contract Value on the Valuation Date the Death Benefit is approved by us for payment. **No additional Death Benefit is provided.** For example, assume an initial deposit into the Contract of $25,000. The Contract Value increases and equals $28,000 on the Valuation Date the Death Benefit is approved by us for payment. The amount of Death Benefit paid equals $28,000. There is no charge for this Death Benefit.

**General Death Benefit Information** 

**Your Death Benefit terminates on and after the Annuity Commencement Date.** 

If there are joint owners, upon the death of the first Contractowner, we will pay a Death Benefit to the surviving joint owner. The surviving joint owner will be treated as the primary, designated Beneficiary. Any other Beneficiary designation on record at the time of death will be treated as a contingent Beneficiary. If the surviving joint owner is the spouse of the deceased joint owner, that individual may continue the Contract as sole Contractowner. Upon the death of the spouse who continued the Contract, we will pay the Account Value Death Benefit to the designated Beneficiary(s).

All Contract provisions relating to spousal continuation are available only to a person who meets the definition of "spouse" under federal law. The U.S. Supreme Court has held that same-sex marriages must be permitted under state law and that marriages recognized under state law will be recognized for federal law purposes. Domestic partnerships and civil unions that are not recognized as legal marriages under state law, however, will not be treated as marriages under federal law. **You are strongly encouraged to consult a tax advisor before electing spousal rights under the Contract.** 

The value of the Death Benefit will be determined as of the Valuation Date we approve the payment of the claim. Approval of payment will occur upon our receipt of a claim submitted in Good Order or one year from the date of the death for nonqualified contracts and December 31<sup>st</sup> of the year following death for IRAs. To be in Good Order, we require all the following:

1. an original certified death certificate, or other proof of death satisfactory to us; and

2. written authorization for payment; and

3. all required claim forms, fully completed (including selection of a settlement option).

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Notwithstanding any provision of this Contract to the contrary, the payment of Death Benefits provided under this Contract must be made in compliance with Code Section 72(s) or 401(a)(9) as applicable, as amended from time to time. Death Benefits may be taxable. See Federal Tax Matters.

Unless otherwise provided in the Beneficiary designation, one of the following procedures will take place on the death of a Beneficiary:

● if any Beneficiary dies before the Contractowner, that Beneficiary's interest will go to any other Beneficiaries named, according to their respective interests; and/or

● if no Beneficiary survives the Contractowner, the proceeds will be paid to the Contractowner's estate.

If the Beneficiary is a minor, court documents appointing the guardian/custodian may be required.

The Beneficiary may choose the method of payment of the Death Benefit unless the Contractowner has already selected a settlement option. All methods of payment of Death Benefit must comply with Section 72(s) of the Code, or Section 401(a)(9) of the Code for qualified contracts. The Death Benefit payable to the Beneficiary or joint owner of a nonqualified contract must be distributed within five years of the Contractowner's date of death unless the Beneficiary begins receiving within one year of the Contractowner's death the distribution in the form of a life annuity or an annuity for a designated period not extending beyond the Beneficiary's life expectancy and payments must begin within one year of the Contractowner's date of death.

For qualified contracts, the Death Benefit payable to the Beneficiary or joint owner must be distributed within 10 years of the Contractowner's date of death unless the Beneficiary qualifies as an eligible designated beneficiary and begins receiving distributions before December 31<sup>st</sup> of the year following the year of the Contractowner's death. The eligible designated beneficiary must begin receiving the distributions in the form of annuity not extending beyond the Beneficiary's life expectancy.

Note: Indexed Accounts cannot be divided into separate contracts when there are multiple beneficiaries. If more than one beneficiary chooses a death benefit option other than a lump sum, the existing Indexed Account(s) will need to be surrendered at the Interim Value to be allocated to multiple beneficiaries. New Indexed Accounts can be selected on the new contracts if desired with the currently available features.

Upon the death of the Annuitant, Federal tax law requires that an annuity election be made no later than 60 days after we have approved the death claim for payment.

The recipient of a Death Benefit may elect to receive payment either in the form of a lump sum settlement or an Annuity Payout. If a lump sum settlement is elected, the proceeds will be mailed within seven days of approval by us of the claim subject to the laws, regulations and tax code governing payment of Death Benefits. This payment may be postponed as permitted by the Investment Company Act of 1940.

**Abandoned Property.** Every state has unclaimed property laws which generally declare annuity contracts to be abandoned after a period of inactivity of three to five years from the date a benefit is due and payable. For example, if the payment of a Death Benefit has been triggered, but, if after a thorough search, we are still unable to locate the Beneficiary of the Death Benefit, or the Beneficiary does not come forward to claim the Death Benefit in a timely manner, the Death Benefit will be "escheated". This means that the Death Benefit will be paid to the abandoned property division or unclaimed property office of the state in which the Beneficiary or the Contractowner last resided, as shown on our books and records, or to our state of domicile. This escheatment is revocable and the state is obligated to pay the Death Benefit (without interest) if your Beneficiary steps forward to claim it with the proper documentation.

To prevent such escheatment, it is important that you update your Beneficiary designations, including addresses, if and as they change. You may update your Beneficiary designations by submitting a Beneficiary change form to our Servicing Office.

**Additional Service**

**Automatic Withdrawal Service.** The automatic withdrawal service (AWS) provides for an automatic periodic withdrawal of your Contract Value. Withdrawals under AWS are subject to applicable surrender charges. Withdrawals from Indexed Accounts will be at Interim Value unless they coincide with a Segment End Date. See Charges and Adjustments — Surrender Charge and Indexed Accounts – Interim Value. Participating in an AWS may potentially expose you to certain risks. See Principal Risks of Investing in the Contract. Withdrawals under AWS will be noted on your quarterly statement. Confirmation statements for each individual withdrawal will not be issued.

Currently, there is no charge for this service. However, we reserve the right to impose one after appropriate notice to Contractowners. In order to take advantage of this service, you will need to complete the appropriate election form that is available online at LincolnFinancial.com or from our Servicing Office. This service will stop once we are notified of a pending death claim.

We reserve the right to discontinue this administrative service at any time.

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**Annuity Payouts** 

Your Contract Value invested in the Indexed Accounts must be transferred to a fixed Annuity Payout prior to the Annuity Commencement Date. See Principal Risks of Investing in the Contract. When you apply for a Contract, you may select any Annuity Commencement Date permitted by law, which is usually on or before the Annuitant's 99<sup>th</sup> birthday. Your registered representative may recommend that you annuitize at an earlier age.

The Contract provides optional forms of payouts of annuities (annuity options). The Indexed Accounts are not available as Annuity Payout options. The Contract provides that all of the Contract Value may be used to purchase an Annuity Payout option.

You may elect Annuity Payouts in monthly, quarterly, semiannual or annual installments. Following are explanations of the annuity options available.

**Annuity Options** 

**Life Annuity.** This option offers a periodic payout during the lifetime of the Annuitant and ends with the last payout before the death of the Annuitant. This option offers the highest periodic payout since there is no guarantee of a minimum number of payouts or provision for a Death Benefit for Beneficiaries. **However, there is the risk under this option that the recipient would receive no payouts if the Annuitant dies before the date set for the first payout; only one payout if death occurs before the second scheduled payout, and so on.** 

**Life Annuity with Period Certain.** This option guarantees periodic payouts during a designated period, usually 10 or 20 years, and then continues throughout the lifetime of the Annuitant. The designated period is selected by the Contractowner.

**Joint Life Annuity.** This option offers a periodic payout during the joint lifetime of the Annuitant and a designated joint Annuitant. The payouts continue during the lifetime of the survivor. **However, under a joint life annuity, if both Annuitants die before the date set for the first payout, no payouts will be made. Only one payment would be made if both deaths occur before the second scheduled payout, and so on.** 

**Joint Life Annuity with Period Certain.** This option guarantees periodic payouts during a designated period, usually 10 or 20 years, and continues during the joint lifetime of the Annuitant and a designated joint Annuitant. The payouts continue during the lifetime of the survivor. The designated period is selected by the Contractowner.

**Joint Life and Two Thirds to Survivor Annuity.** This option provides a periodic payout during the joint lifetime of the Annuitant and a designated joint Annuitant. When one of the joint Annuitants dies, the survivor receives two thirds of the periodic payout made when both were alive.

**Joint Life and Two-Thirds Survivor Annuity with Period Certain.** This option provides a periodic payout during the joint lifetime of the Annuitant and a designated joint Annuitant. When one of the joint Annuitants dies, the survivor receives two-thirds of the periodic payout made when both were alive. This option further provides that should one or both of the Annuitants die during the elected guaranteed period, usually 10 or 20 years, full benefit payment will continue for the rest of the guaranteed period.

**Life Annuity with Cash Refund.** This option provides fixed annuity benefit payments that will be made for the lifetime of the Annuitant with the guarantee that upon death, should (a) the total dollar amount applied to purchase this option be greater than (b) the fixed annuity benefit payment multiplied by the number of annuity benefit payments paid prior to death, then a refund payment equal to the dollar amount of (a) minus (b) will be made.

Under the annuity options listed above, you may not make withdrawals. Other options, with or without withdrawal features, may be made available by us. You may pre-select an Annuity Payout option as a method of paying the Death Benefit to a Beneficiary. If you do, the Beneficiary cannot change this payout option. You may change or revoke in writing to our Servicing Office, any such selection, unless such selection was made irrevocable. If you have not already chosen an Annuity Payout option, the Beneficiary may choose any Annuity Payout option. At death, options are only available to the extent they are consistent with the requirements of the Contract as well as Sections 72(s) and 401(a)(9) of the tax code, if applicable.

**General Information** 

**Any previously selected Death Benefit in effect before the Annuity Commencement Date will no longer be available on and after the Annuity Commencement Date. Any portion of your Contract Value invested in the Indexed Accounts must be moved to a fixed Annuity Payout prior to the Annuity Commencement Date.** You may change the Annuity Commencement Date or change the annuity option up to 30 days before the scheduled Annuity Commencement Date, upon written notice to the Home Office. You must give us at least 30 days' notice before the date on which you want payouts to begin. We may require proof of age, sex, or survival of any payee upon whose age, sex, or survival payments depend.

Unless you select another option, the Contract automatically provides for a life annuity with Annuity Payouts guaranteed for 10 years (on a fixed basis) except when a joint life payout is required by law. Under any option providing for guaranteed period payouts, the number of payouts which remain unpaid at the date of the Annuitant's death (or surviving Annuitant's death in case of joint life Annuity) will be paid to you or your Beneficiary as payouts become due after we are in receipt of:

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● proof of the death, satisfactory to us;

● written authorization for payment; and

● all claim forms, fully completed.

**Small Contract Surrenders** 

We may surrender your Contract, in accordance with New York law if:

● your Contract Value drops below certain state specified minimum amounts ($2,000 or less) for any reason, including if your Contract Value decreases due to the performance of the Indexed Accounts you selected; and

● the annuity benefit at the Annuity Commencement Date would be less than $20.00 per month.

At least 60 days before we surrender your Contract, we will send you a letter at your last address we have on file, to inform you that your Contract will be surrendered. If we surrender your Contract, we will not assess any surrender charge. Surrenders from the Indexed Accounts will be calculated using the Interim Value.

**Delay of Payments** 

Due to federal laws designed to counter terrorism and prevent money laundering by criminals, we may be required to reject a Purchase Payment and/or deny payment of a request for transfers, withdrawals, surrenders, or Death Benefits, until instructions are received from the appropriate regulator. We also may be required to provide additional information about a Contractowner's account to government regulators.

**Amendment of Contract** 

We reserve the right to amend the Contract to meet the requirements of applicable federal or state laws or regulations. You will be notified in writing of any changes, modifications or waivers. Any changes are subject to prior approval of your state's insurance department (if required).

**Distribution of the Contracts** 

Lincoln Financial Distributors, Inc. ("LFD") serves as Principal Underwriter of this Contract. LFD is affiliated with Lincoln New York and is registered as a broker-dealer with the SEC under the Securities Exchange Act of 1934 and is a member of FINRA (Financial Industry Regulatory Authority). The Principal Underwriter has entered into selling agreements with broker-dealers that are unaffiliated with us ("Selling Firms"). While the Principal Underwriter has the legal authority to make payments to broker-dealers which have entered into selling agreements, we will make such payments on behalf of the Principal Underwriter in compliance with appropriate regulations. We also pay on behalf of LFD certain of its operating expenses related to the distribution of this and other of our contracts. The Principal Underwriter may also offer "non-cash compensation", as defined under FINRA's rules, which includes among other things, merchandise, gifts, marketing support, sponsorships, seminars, entertainment and travel expenses. You should ask your registered representative how the broker-dealer will be compensated for the sale of the Contract to you, or for any alternative proposal that may have been presented to you. You should take such compensation into account when considering and evaluating any recommendation made to you in connection with the purchase of a Contract. The following paragraphs describe how payments are made by us and the Principal Underwriter to various parties.

**Compensation Paid to Selling Firms**. The Principal Underwriter pays commissions to all Selling Firms. The maximum commission the Principal Underwriter pays to Selling Firms is 6.00% of the Purchase Payment. Some Selling Firms may elect to receive a lower commission when a Purchase Payment is made along with an earlier quarterly payment based on Contract Value for so long as the Contract's Selling Firm remains in effect. Upon annuitization, the maximum commission the Principal Underwriter pays to Selling Firms is 3.00% of annuitized value and/or ongoing annual compensation of up to 0.40% of annuity value or statutory reserves. LFD also acts as wholesaler of the contracts and performs certain marketing and other functions in support of the distribution and servicing of the contracts.

LFD may pay certain Selling Firms or their affiliates additional amounts for, among other things: (1) "preferred product" treatment of the contracts in their marketing programs, which may include marketing services and increased access to registered representatives; (2) sales incentives relating to the contracts; (3) costs associated with sales conferences and educational seminars for their registered representatives; (4) other sales expenses incurred by them; and (5) inclusion in the financial products the Selling Firm offers.

Lincoln New York may provide loans to broker-dealers or their affiliates to help finance marketing and distribution of the contracts, and those loans may be forgiven if aggregate sales goals are met. In addition, we may provide staffing or other administrative support and services to broker-dealers who distribute the contracts. LFD, as wholesaler, may make bonus payments to certain Selling Firms based on aggregate sales of our variable insurance contracts (including the contracts) or persistency standards.

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These additional types of compensation are not offered to all Selling Firms. The terms of any particular agreement governing compensation may vary among Selling Firms and the amounts may be significant. The prospect of receiving, or the receipt of, additional compensation may provide Selling Firms and/or their registered representatives with an incentive to favor sales of the contracts over other variable annuity contracts (or other investments) with respect to which a Selling Firm receives lower levels of or no additional compensation. You may wish to take such payment arrangements into account when considering and evaluating any recommendation relating to the contracts.

**Compensation Paid to Other Parties.** Depending on the particular selling arrangements, there may be others whom LFD compensates for the distribution activities. For example, LFD may compensate certain "wholesalers", who control access to certain selling offices, for access to those offices or for referrals, and that compensation may be separate from the compensation paid for sales of the contracts. LFD may compensate marketing organizations, associations, brokers or consultants which provide marketing assistance and other services to broker-dealers who distribute the contracts, and which may be affiliated with those broker-dealers. Commissions and other incentives or payments described above are not charged directly to Contractowners. All compensation is paid from our resources, which include fees and charges imposed on your Contract.

We pay an education and support fee to First Trust Portfolios L.P. (First Trust) for their educational and sales support in connection with the First Trust Capital Strength Methodology contained within the Capital Strength Net Fee Index<sup>SM</sup>. This fee is an annual fee of 0.15% of the average daily value of the amount invested in the Capital Strength Indexed Accounts. First Trust will pay Lincoln an annual rate of 0.05% of the average daily value of the amount invested in the Capital Strength Indexed Accounts to compensate Lincoln for the expenses it incurs in assisting First Trust as it provides this education and support. These payments are not charged directly to Contractowners, but are paid from our resources.

We pay a licensing fee to FTIS in the amount of 0.045%, and we pay an education and support fee in the amount of 0.150% to First Trust Portfolios L.P. in connection with the First Trust American Leadership Index. These fees are based on the average monthly value of the amount invested in the First Trust American Leadership Indexed Accounts. These payments are not charged directly to Contractowners but are paid from our resources.

**Contractowner Questions** 

The obligations to purchasers under the contracts are those of Lincoln New York. This prospectus provides a general description of the material features of the Contract. Contracts, endorsements and riders may vary as required by state law. Questions about your Contract should be directed to us at 1-877-737-6872.

**Federal Tax Matters** 

**Introduction** 

The Federal income tax treatment of the Contract is complex and sometimes uncertain. The Federal income tax rules may vary with your particular circumstances. This discussion does not include all the Federal income tax rules that may affect you and your Contract. This discussion also does not address other Federal tax consequences (including consequences of sales to foreign individuals or entities), or state or local tax consequences, associated with the Contract. As a result, you should always consult a tax advisor about the application of tax rules found in the Internal Revenue Code ("Code"), Treasury Regulations and applicable IRS guidance to your individual situation.

**Nonqualified Annuities** 

This part of the discussion describes some of the Federal income tax rules applicable to nonqualified annuities. A nonqualified annuity is a contract not issued in connection with a qualified retirement plan, such as an IRA or a section 403(b) plan, receiving special tax treatment under the Code. We may not offer nonqualified annuities for all of our annuity products.

**Tax Deferral On Earnings** 

Under the Code, you are generally not subject to tax on any increase in your Contract Value until you receive a contract distribution. However, for this general rule to apply, certain requirements must be satisfied:

● An individual must own the Contract (or the Code must treat the Contract as owned by an individual).

● Your right to choose particular investments for a Contract must be limited.

● The Annuity Commencement Date must not occur near the end of the Annuitant's life expectancy.

**Contracts Not Owned By An Individual** 

If a Contract is owned by an entity (rather than an individual) the Code generally does not treat it as an annuity contract for Federal income tax purposes. This means that the entity owning the Contract pays tax currently on the excess of the Contract Value over the

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investment in the Contract. Examples of contracts where the owner pays current tax on the Contract's earnings are contracts issued to a corporation or a trust. Some exceptions to the rule are:

● Contracts in which the named owner is a trust or other entity that holds the Contract as an agent for an individual; however, this exception does not apply in the case of any employer that owns a contract to provide deferred compensation for its employees;

● Immediate annuity contracts, purchased with a single premium, when the annuity starting date is no later than a year from purchase and substantially equal periodic payments are made, not less frequently than annually, during the Annuity Payout period;

● Contracts acquired by an estate of a decedent;

● Certain qualified contracts;

● Contracts purchased by employers upon the termination of certain qualified plans; and

● Certain contracts used in connection with structured settlement agreements.

**Restrictions** 

The Code limits your right to choose particular investments for the Contract. Because the IRS has issued little guidance specifying those limits, the limits are uncertain. We do not know what limits may be set by the IRS in any guidance that it may issue and whether any such limits will apply to existing contracts.

**Loss Of Interest Deduction** 

After June 8, 1997, if a Contract is issued to a taxpayer that is not an individual, or if a Contract is held for the benefit of an entity, the entity may lose a portion of its deduction for otherwise deductible interest expenses. However, this rule does not apply to a Contract owned by an entity engaged in a trade or business that covers the life of one individual who is either (i) a 20% Owner of the entity, or (ii) an officer, director, or employee of the trade or business, at the time first covered by the Contract. This rule also does not apply to a Contract owned by an entity engaged in a trade or business that covers the joint lives of the 20% Owner or the entity and the Owner's spouse at the time first covered by the Contract.

**Age At Which Annuity Payouts Begin** 

The Code does not expressly identify a particular age by which Annuity Payouts must begin. However, those rules do require that an annuity contract provide for amortization, through Annuity Payouts, of the Contract's Purchase Payment and earnings. As long as annuity payments begin or are scheduled to begin on a date on which the Annuitant's remaining life expectancy is enough to allow for a sufficient Annuity Payout period, the Contract should be treated as an annuity. If the annuity contract is not treated as an annuity, you would be currently taxed on the excess of the Contract Value over the investment in the Contract.

**Tax Treatment Of Payments** 

We make no guarantees regarding the tax treatment of any Contract or of any transaction involving a Contract. However, the rest of this discussion assumes that your Contract will be treated as an annuity under the Code and that any increase in your Contract Value will not be taxed until there is a distribution from your Contract.

**Taxation Of Withdrawals And Surrenders** 

You will pay tax on withdrawals to the extent your Contract Value exceeds your investment in the Contract. This income (and all other income from your Contract) is considered ordinary income (and does not receive capital gains treatment and is not qualified dividend income). You will pay tax on a surrender to the extent the amount you receive exceeds your investment in the Contract. In certain circumstances, your Purchase Payment and investment in the Contract are reduced by amounts received from your Contract that were not included in income.

**Taxation Of Annuity Payouts** 

The Code imposes tax on a portion of each Annuity Payout (at ordinary income tax rates) and treats a portion as a nontaxable return of your investment in the Contract. We will notify you annually of the taxable amount of your Annuity Payout. Once you have recovered the total amount of the investment in the Contract, you will pay tax on the full amount of your Annuity Payouts. If Annuity Payouts end because of the Annuitant's death and before the total amount in the Contract has been distributed, the amount not received will generally be deductible.

**Taxation Of Death Benefits** 

We may distribute amounts from your Contract because of the death of a Contractowner or an Annuitant. The tax treatment of these amounts depends on whether the Contractowner or the Annuitant dies before or after the Annuity Commencement Date.

Death prior to the Annuity Commencement Date:

● If the Beneficiary receives Death Benefits under an Annuity Payout option, they are taxed in the same manner as Annuity Payouts.

● If the Beneficiary does not receive Death Benefits under an Annuity Payout option, they are taxed in the same manner as a withdrawal.

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Death after the Annuity Commencement Date:

● If Death Benefits are received in accordance with the existing Annuity Payout option following the death of a Contractowner who is not the Annuitant, they are excludible from income in the same manner as the Annuity Payout prior to the death of the Contractowner.

● If Death Benefits are received in accordance with the existing Annuity Payout option following the death of the Annuitant (whether or not the Annuitant is also the Contractowner), the Death Benefits are excludible from income if they do not exceed the investment in the Contract not yet distributed from the Contract. All Annuity Payouts in excess of the investment in the Contract not previously received are includible in income.

● If Death Benefits are received in a lump sum, the Code imposes tax on the amount of Death Benefits which exceeds the amount of the Purchase Payment not previously received.

**Additional Taxes Payable On Withdrawals, Surrenders, Or Annuity Payouts** 

The Code may impose a 10% additional tax on any distribution from your Contract which you must include in your gross income. The 10% additional tax does not apply if one of several exceptions exists. These exceptions include withdrawals, surrenders, or Annuity Payouts that:

● you receive on or after you reach 59½,

● you receive because you became disabled (as defined in the Code),

● you receive from an immediate annuity,

● a Beneficiary receives on or after your death, or

● you receive as a series of substantially equal periodic payments based on your life or life expectancy (non-natural owners holding as agent for an individual do not qualify).

**Unearned Income Medicare Contribution** 

Congress enacted the "Unearned Income Medicare Contribution" as a part of the Health Care and Education Reconciliation Act of 2010. This tax, which affects individuals whose modified adjusted gross income exceeds certain thresholds, is a 3.8% tax on the lesser of (i) the individual's "unearned income," or (ii) the dollar amount by which the individual's modified adjusted gross income exceeds the applicable threshold. Unearned income includes the taxable portion of distributions that you take from your annuity contract. If you take a distribution from your Contract that may be subject to the tax, we will include a Distribution Code "D" in Box 7 of the Form 1099-R issued to report the distribution. Please consult your tax advisor to determine whether your annuity distributions are subject to this tax.

**Special Rules If You Own More Than One Annuity Contract** 

In certain circumstances, you must combine some or all of the nonqualified annuity contracts you own in order to determine the amount of an Annuity Payout, a surrender, or a withdrawal that you must include in income. For example, if you purchase two or more deferred annuity contracts from the same life insurance company (or its affiliates) during any calendar year, the Code treats all such contracts as one contract. Treating two or more contracts as one contract could affect the amount of a surrender, a withdrawal or an Annuity Payout that you must include in income and the amount that might be subject to the additional tax described previously.

**Loans and Assignments** 

Except for certain qualified contracts, the Code treats any amount received as a loan under your Contract, and any assignment or pledge (or agreement to assign or pledge) of any portion of your Contract Value, as a withdrawal of such amount or portion.

**Gifting A Contract** 

If you transfer ownership of your Contract to a person other than to your spouse (or to your former spouse incident to divorce), and receive a payment less than your Contract's value, you will pay tax on your Contract Value to the extent it exceeds your investment in the Contract not previously received. The new owner's investment in the Contract would then be increased to reflect the amount included in income.

**Charges for Additional Benefits** 

Your Contract automatically includes a basic Death Benefit and may include other optional riders. Certain enhancements to the basic Death Benefit may also be available to you. The cost of the basic Death Benefit and any additional benefit are deducted from your Contract. It is possible that the tax law may treat all or a portion of the Death Benefit and other optional rider charges, if any, as a contract withdrawal.

**Special Considerations for Same-Sex Spouses** 

In 2013, the U.S. Supreme Court held that same-sex spouses who are married under state law are treated as spouses for purposes of federal law. **You are strongly encouraged to consult a tax advisor before electing spousal rights under the Contract.** 

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**Qualified Retirement Plans** 

We have designed the contracts for use in connection with certain types of retirement plans that receive favorable treatment under the Code. Contracts issued to or in connection with a qualified retirement plan are called "qualified contracts." We issue contracts for use with various types of qualified retirement plans. The Federal income tax rules applicable to those plans are complex and varied. As a result, this prospectus does not attempt to provide more than general information about the use of the Contract with the various types of qualified retirement plans. Persons planning to use the Contract in connection with a qualified retirement plan should obtain advice from a competent tax advisor.

**Types of Qualified Contracts and Terms of Contracts** 

Qualified retirement plans may include the following:

● Individual Retirement Accounts and Annuities ("Traditional IRAs")

● Roth IRAs

● Traditional IRA that is part of a Simplified Employee Pension Plan ("SEP")

● SIMPLE 401(k) plans (Savings Incentive Matched Plan for Employees)

● 401(a) / (k) plans (qualified corporate employee pension and profit-sharing plans)

● 403(a) plans (qualified annuity plans)

● 403(b) plans (public school system and tax-exempt organization annuity plans)

● H.R. 10 or Keogh Plans (self-employed individual plans)

● 457(b) plans (deferred compensation plans for state and local governments and tax-exempt organizations)

Our individual variable annuity products are not available for use with any of the foregoing qualified retirement plan accounts, with the exception of Traditional IRA, SEP IRA, and Roth IRA arrangements. We will amend contracts to be used with a qualified retirement plan as generally necessary to conform to the Code's requirements for the type of plan. However, the rights of a person to any qualified retirement plan benefits may be subject to the plan's terms and conditions, regardless of the contract's terms and conditions. In addition, we are not bound by the terms and conditions of qualified retirement plans to the extent such terms and conditions contradict the contract, unless we consent.

**The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019** 

The Setting Every Community Up for Retirement Enhancement (SECURE) Act (the "SECURE Act") was enacted on December 20, 2019. The SECURE Act made a number of significant changes to the rules that apply to qualified retirement plans and IRA's, including the following:

● Eliminated the age 70½ limit for making contributions to an IRA. Beginning in 2020, an IRA owner can make contributions to his or her IRA at any age.

● Changed the required minimum distribution rules that apply after the death of a participant or IRA owner.

● Created the "Qualified Birth or Adoption" exception to the 10% additional tax on early distributions.

**The Setting Every Community Up for Retirement Enhancement 2.0 (SECURE 2.0) Act of 2022** 

The Setting Every Community Up for Retirement Enhancement (SECURE 2.0) Act (the "SECURE 2.0 Act") was enacted on December 29, 2022. The SECURE 2.0 Act made specific changes to retirement plans and IRA's, including:

● Increased the required beginning date measuring age from age 72 to 73 for any participant or IRA owner who did not attain age 72 prior to January 1, 2023. As a result, required minimum distributions are generally required to begin by April 1<sup>st</sup> of the year following the year in which the participant or IRA owner reaches age 73.

● Further increased the required beginning date measuring age to 75 by 2033.

● Created exception to the 10% additional tax for distributions for domestic violence and emergencies.

● Added provisions that permit rollover of 529 plan amounts to a Roth IRA for the beneficiary, within certain limits.

**Tax Treatment of Qualified Contracts** 

The Federal income tax rules applicable to qualified retirement plans and qualified contracts vary with the type of plan and contract. For example:

● Federal tax rules limit the amount of the Purchase Payment or contributions that can be made, and the tax deduction or exclusion that may be allowed for the contributions. These limits vary depending on the type of qualified retirement plan and the participant's specific circumstances (*e.g.*, the participant's compensation).

● Minimum annual distributions are required under some qualified retirement plans once you reach age 73 or retire, if later as described below.

● Loans are allowed under certain types of qualified retirement plans, but Federal income tax rules prohibit loans under other types of qualified retirement plans. For example, Federal income tax rules permit loans under some section 403(b) plans, but prohibit

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loans under Traditional and Roth IRAs. If allowed, loans are subject to a variety of limitations, including restrictions as to the loan amount, the loan's duration, the rate of interest, and the manner of repayment. Your Contract or plan may not permit loans.

Please note that qualified retirement plans such as 403(b) plans, 401(k) plans and IRAs generally defer taxation of contributions and earnings until distribution. As such, an annuity does not provide any additional tax deferral benefit beyond the qualified retirement plan itself.

**Tax Treatment of Payments** 

The Federal income tax rules generally include distributions from a qualified contract in the participant's income as ordinary income. These taxable distributions will include contributions that were deductible or excludible from income. Thus, under many qualified contracts, the total amount received is included in income since a deduction or exclusion from income was taken for contributions to the contract. There are exceptions. For example, you do not include amounts received from a Roth IRA in income if certain conditions are satisfied.

**Required Minimum Distributions** 

Under most qualified plans, you must begin receiving payments from the Contract in certain minimum amounts by your "required beginning date". Prior to the SECURE 2.0 Act, the required beginning date was April 1 of the year following the year you attain age 72 or retired. If you did not attain age 72 prior to January 1, 2023, then your required beginning date will be April 1<sup>st</sup> of the year following the year in which you attain age 73 or retire. If you own a traditional IRA, your required beginning date under prior law was April 1<sup>st</sup> of the year following the year in which you attained age 72. If you did not attain age 72 prior to January 1, 2023, then your required beginning date will be April 1<sup>st</sup> of the year following the year in which you attain age 73. If you own a Roth IRA, you are not required to receive minimum distributions from your Roth IRA during your life.

Failure to comply with the minimum distribution rules applicable to certain qualified plans, such as Traditional IRAs, will result in the imposition of an excise tax. This excise tax is applied to the amount by which a required minimum distribution exceeds the actual distribution from the qualified plan.

Treasury regulations applicable to required minimum distributions include a rule that may impact the distribution method you have chosen and the amount of your distributions. Under these regulations, the presence of an enhanced Death Benefit, or other benefit which could provide additional value to your Contract, may require you to take additional distributions. An enhanced Death Benefit is any Death Benefit that has the potential to pay more than the Contract Value or a return of investment in the Contract. Annuity contracts inside Custodial or Trusteed IRAs will also be subject to these regulations. Please contact your tax advisor regarding any tax ramifications.

**Additional Tax on Early Distributions from Qualified Retirement Plans** 

The Code may impose a 10% additional tax on an early distribution from a qualified contract that must be included in income. The Code does not impose the additional tax if one of several exceptions applies. The exceptions vary depending on the type of qualified contract you purchase. For example, in the case of an IRA, the 10% additional tax will not apply to any of the following withdrawals, surrenders, or Annuity Payouts:

● Distribution received on or after the Annuitant reaches 59½,

● Distribution received on or after the Annuitant's death or because of the Annuitant's disability (as defined in the Code),

● Distribution received as a series of substantially equal periodic payments based on the Annuitant's life (or life expectancy),

● Distribution received as reimbursement for certain amounts paid for medical care, or

● Distribution received for a "qualified birth or adoption" event.

These exceptions, as well as certain others not described here, generally apply to taxable distributions from other qualified retirement plans. However, the specific requirements of the exception may vary.

**Unearned Income Medicare Contribution** 

Congress enacted the "Unearned Income Medicare Contribution" as a part of the Health Care and Education Reconciliation Act of 2010. This tax affects individuals whose modified adjusted gross income exceeds certain thresholds, is a 3.8% tax on the lesser of (i) the individual's "unearned income," or (ii) the dollar amount by which the individual's modified adjusted gross income exceeds the applicable threshold. Distributions that you take from your Contract are not included in the calculation of unearned income because your Contract is a qualified plan contract. However, the amount of any such distribution is included in determining whether you exceed the modified adjusted gross income threshold. Please consult your tax advisor to determine whether your annuity distributions are subject to this tax.

**Transfers and Direct Rollovers** 

As a result of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), you may be able to move funds between different types of qualified plans, such as 403(b) and 457(b) governmental plans, by means of a rollover or transfer. You may be able

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to rollover or transfer amounts between qualified plans and traditional IRAs. These rules do not apply to Roth IRAs and 457(b) non-governmental tax-exempt plans. There are special rules that apply to rollovers, direct rollovers and transfers (including rollovers or transfers of after-tax amounts). If the applicable rules are not followed, you may incur adverse Federal income tax consequences, including paying taxes which you might not otherwise have had to pay. Before we send a rollover distribution, we will provide a notice explaining tax withholding requirements (see Federal Income Tax Withholding). We are not required to send you such notice for your IRA. You should always consult your tax advisor before you move or attempt to move any funds.

The IRS issued Announcement 2014-32 confirming its intent to apply the one-rollover-per-year limitation of 408(d)(3)(B) on an aggregate basis to all IRAs that an individual owns. This means that an individual cannot make a tax-free IRA-to-IRA rollover if he or she has made such a rollover involving any of the individual's IRAs in the current tax year. If an intended rollover does not qualify for tax-free rollover treatment, contributions to your IRA may constitute excess contributions that may exceed contribution limits. This one-rollover-per-year limitation does not apply to direct trustee-to-trustee transfers.

**Direct Conversions and Recharacterizations** 

The Pension Protection Act of 2006 (PPA) permits direct conversions from certain qualified, retirement, 403(b) or 457(b) plans to Roth IRAs (effective for distributions after 2007). You are also permitted to recharacterize your traditional IRA contribution as a Roth IRA contribution, and to recharacterize your Roth IRA contribution as a traditional IRA contribution. The deadline for the recharacterization is the due date (including extensions) for your individual income tax return for the year in which the contribution was made. Upon recharacterization, you are treated as having made the contribution originally to the second IRA account. The recharacterization does not count toward the one-rollover-per-year limitation described above.

Effective for tax years beginning after December 31, 2017, pursuant to the Tax Cuts and Jobs Act (Pub. L. No. 115-97), recharacterizations are no longer allowed in the case of a conversion from a non-Roth account or annuity to a Roth IRA. This limitation applies to conversions made from pre-tax accounts under an IRA, qualified retirement plan, 403(b) plan, or 457(b) plan. Roth IRA conversions made in 2017 may be recharacterized as a contribution to a traditional IRA if the recharacterization is completed by October 15, 2018.

There are special rules that apply to conversions and recharacterizations, and if they are not followed, you may incur adverse Federal income tax consequences. You should consult your tax advisor before completing a conversion or recharacterization.

**Death Benefit and IRAs** 

Pursuant to Treasury regulations, IRAs may not invest in life insurance contracts. We do not believe that these regulations prohibit the Death Benefit from being provided under the Contract when we issue the Contract as a Traditional or Roth IRA. However, the law is unclear and it is possible that the presence of the Death Benefit under a Contract issued as a Traditional or Roth IRA could result in increased taxes to you. Certain Death Benefit options may not be available for all of our products.

**Federal Income Tax Withholding** 

We will withhold and remit to the IRS a part of the taxable portion of each distribution made under a Contract unless you notify us in writing prior to the distribution that tax is not to be withheld. In certain circumstances, Federal income tax rules may require us to withhold tax. At the time a withdrawal, surrender, or Annuity Payout is requested, we will give you an explanation of the withholding requirements.

Certain payments from your Contract may be considered eligible rollover distributions (even if such payments are not being rolled over). Such distributions may be subject to special tax withholding requirements. The Federal income tax withholding rules require that we withhold 20% of the eligible rollover distribution from the payment amount, unless you elect to have the amount directly transferred to certain qualified plans or contracts. The IRS requires that tax be withheld, even if you have requested otherwise. Such tax withholding requirements are generally applicable to 401(a), 403(a) or (b), HR 10, and 457(b) governmental plans and contracts used in connection with these types of plans.

**Changes in the Law** 

The above discussion is based on the Code, related regulations, and interpretations existing on the date of this prospectus. However, Congress, the IRS, and the courts may modify these authorities, sometimes retroactively.

**Additional Information**

**Voting Rights** 

There are no voting rights associated with the Indexed Accounts.

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**Return Privilege** 

Within the free-look period after you receive the Contract, you may cancel it for any reason by sending us a letter of instruction, indicating your intent to exercise the free-look provision. A Contract canceled under this provision will be void. Except as explained in the following paragraph, we will return the greater of a full refund of the amount you paid with your application or your total Contract Value. No applicable surrender charges will apply. **A purchaser who participates in the Indexed Accounts risks the loss of principal as it will be based on Interim Value.** 

IRA purchasers will receive the greater of Purchase Payments or Contract Value as of the Valuation Date on which we receive the cancellation request.

If you cancel this Contract within the free-look period, we reserve the right not to accept another application for this Contract for a period of six months.

**State Regulation** 

As a life insurance company organized and operated under New York law, we are subject to provisions governing life insurers and to regulation by the New York Commissioner of Insurance. Our books and accounts are subject to review and examination by the New York State Department of Financial Services at all times. A full examination of our operations is conducted by that Department at least every five years.

**Reliance On Rule 12h-7** 

We rely on the exemption from the reporting requirements of Section 15(d) of the Securities Exchange Act of 1934, as amended (the "1934 Act"), provided by Rule 12h-7 under the 1934 Act with respect to registered non-variable insurance contracts (such as the Contract) that we issue.

**Electronic Delivery** 

You may elect to receive your Contract, prospectus, prospectus supplements, quarterly statements, and other notices electronically over the Internet, if you have an e-mail account and access to an Internet browser. Once you select eDelivery, via the Internet Service Center, all documents available in electronic format will no longer be sent to you in hard copy. You will receive an e-mail notification when the documents become available online. It is your responsibility to provide us with your current e-mail address. You can resume paper mailings at any time without cost, by updating your profile at the Internet Service Center, or contacting us. To learn more about this service, please log on to www.LincolnFinancial.com, select service centers and continue on through the Internet Service Center.

**Legal Proceedings** 

In the ordinary course of its business and otherwise, the Company and its subsidiaries or its separate accounts and Principal Underwriter may become or are involved in various pending or threatened regulatory or legal proceedings, including purported class actions, arising from the conduct of its business. In some instances, the proceedings include claims for unspecified or substantial punitive damages and similar types of relief in addition to amounts for alleged contractual liability or requests for equitable relief.

After consultation with legal counsel and a review of available facts, it is management's opinion that the proceedings, after consideration of any reserves and rights to indemnification, ultimately will be resolved without any material adverse effect on the consolidated financial position of the Company and its subsidiaries, or the financial position of its separate accounts or Principal Underwriter. However, given the large and indeterminate amounts sought in certain of these proceedings and the inherent difficulty in predicting the outcome of such proceedings, it is reasonably possible that an adverse outcome in certain matters could be material to the Company's operating results for any particular reporting period.

Please refer to the Statement of Additional Information for possible additional information regarding legal proceedings.

**Financial Statements** 

The December 31, 2025 financial statements of Lincoln New York are included in the Statement of Additional Information (SAI). They should be considered only as they relate to our ability to meet our obligations under the Contract. Instructions on how to obtain the Statement of Additional Information are included on the back cover page.

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**Appendix A — Investment Options Available Under The Contract**

The following is a list of Indexed Accounts currently available under the Contract. We may change the features of the Indexed Accounts listed below (including the Index and the current limits on Index gains and losses), offer new Indexed Accounts, and terminate existing Indexed Accounts. We will provide you with written notice before making any changes other than changes to the current limits on Index gains. Information about current limits on Index gains is available at www.lfg.com/llarates.

**Note: If amounts are removed from an Indexed Account before the end of its Indexed Term, we will apply a Contract Adjustment based on Interim Value. This may result in significant reduction in your Contract Value that could exceed any protection from Index loss that would be in place if you held the Indexed Segment until the end of the Indexed Term. See Indexed Accounts – Interim Value in the prospectus for additional details.** 

**Benefits availability may vary by state of issue or selling broker-dealer. All variations, if material, will be disclosed in the prospectus.** 

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index** | **Type of Index** | **Term** <br> **Duration**<br>| **Index Crediting**<br> **Methodology**<br>| **Protection Method and** <br> **Amount of Protection** | **Protection Method and** <br> **Amount of Protection** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup>  | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup>  |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to Point | 15% | Protection Level | 4.5% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 20% | Protection Level | 4.0% | Performance <br> Cap<br>|  | N/A |
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 15% | Protection Level | 4.5% | Performance <br> Cap<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 15% | Protection Level | 4.5% | Performance <br> Cap<br>|  | N/A |
| Nasdaq-100 Index<sup>®</sup> <sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 25% | Protection Level | 21.0% | Performance <br> Cap<br>| 3.5% | Performance <br> Cap<br>|
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| Capital Strength Net Fee <br> Index<sup>SM 1,</sup> 2<br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 25% | Protection Level | 21.0% | Performance <br> Cap<br>| 3.5% | Performance <br> Cap<br>|
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap <br>|

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index** | **Type of Index** | **Term** <br> **Duration**<br>| **Index Crediting**<br> **Methodology**<br>| **Protection Method and** <br> **Amount of Protection** | **Protection Method and** <br> **Amount of Protection** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup> | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup> |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 15% | Protection Level | 4.5% | Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 20% | Protection Level | 4.0% | Performance <br> Trigger Rate<br>|  | N/A |
| Nasdaq-100 Index<sup>®</sup> <sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Dual Plus | 30.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Annual Lock | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |

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<sup>1</sup> The Index is a "price return Index," not a "total return Index," and therefore does not reflect dividends paid on the securities composing the Index. This will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

<sup>2</sup> The Index deduct fees and costs when calculating Index performance which will reduce the Index return and cause each Index to underperform a direct investment in the securities composing the Index.

Each Indexed Account's limit on Index losses is guaranteed not to change for as long as that Indexed Account remains available under the Contract. **We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%.** However, we reserve the right to add and remove Indexed Accounts and to offer Indexed Accounts with different Crediting Methods or Protection Methods. As such, the limits on Index loss offered under the Contract may change from one Indexed Term to the next. We do not guarantee that the Contract will always offer Indexed Accounts that limit Index losses. See Indexed Accounts in the prospectus for additional details.

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**Appendix B – Index Disclosures**

**S&P 500**<sup>®</sup> **Price Return Index** 

The S&P 500<sup>®</sup> Price Return Index is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI"), and has been licensed for use by The Lincoln National Life Insurance Company ("Lincoln"). Standard & Poor's<sup>®</sup>, S&P<sup>®</sup>, and S&P 500<sup>®</sup> are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Lincoln. It is not possible to invest directly in an index. Lincoln's Product(s) are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of Lincoln's Product(s) or any member of the public regarding the advisability of investing in securities generally or in Lincoln's Product(s) particularly or the ability of the S&P 500<sup>®</sup> Price Return Index to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices' only relationship to Lincoln with respect to the S&P 500<sup>®</sup> Price Return Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500<sup>®</sup> Price Return Index is determined, composed and calculated by S&P Dow Jones Indices without regard to Lincoln or Lincoln's Product(s). S&P Dow Jones Indices have no obligation to take the needs of Lincoln or the owners of Lincoln's Product(s) into consideration in determining, composing or calculating the S&P 500<sup>®</sup> Price Return Index. S&P Dow Jones Indices are not responsible for and have not participated in the determination of the prices, and amount of Lincoln's Product(s) or the timing of the issuance or sale of Lincoln's Product(s) or in the determination or calculation of the equation by which Lincoln's Product(s) is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of Lincoln's Product(s). There is no assurance that investment products based on the S&P 500<sup>®</sup> Price Return Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment or tax advisor. A tax advisor should be consulted to evaluate the impact of any tax-exempt securities on portfolios and the tax consequences of making any particular investment decision. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500<sup>®</sup> PRICE RETURN INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY LINCOLN, OWNERS OF LINCOLN'S PRODUCTS(s), OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500<sup>®</sup> PRICE RETURN INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND LINCOLN, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

**Russell 2000**<sup>®</sup> **Price Return Index** 

The Russell 2000<sup>®</sup> Price Return Index (the "Index") is a trademark of Frank Russell Company ("Russell") and has been licensed for use by The Lincoln National Life Insurance Company ("Lincoln"). Lincoln products are not in any way sponsored, endorsed, sold or promoted by Russell or the London Stock Exchange Group companies ("LSEG") (together the "Licensor Parties") and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the Index (upon which Lincoln's products are based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with Lincoln products. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to Lincoln or to its clients. The Index is calculated by Russell or its agent. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein.

**Capital Strength Net Fee Index**<sup>SM</sup> 

The Product(s) is not sponsored, endorsed, sold or promoted by NASDAQ, Inc. or its affiliates (NASDAQ, with its affiliates, are referred to as the "Corporations"). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Product(s). The Corporations make no representation or warranty, express or implied to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly, or the ability of the Capital Strength Net Fee Index to track general stock market performance. The Corporations' only relationship to The Lincoln National Life Insurance Company ("Licensee") is in the licensing of the Nasdaq<sup>®</sup> and certain trade

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names of the Corporations and the use of the Capital Strength Net Fee Index which is determined, composed and calculated by NASDAQ without regard to Licensee or the Product(s). NASDAQ has no obligation to take the needs of the Licensee or the owners of the Product(s) into consideration in determining, composing or calculating the Capital Strength Net Fee Index. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. The Corporations have no liability in connection with the administration, marketing or trading of the Product(s).

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF THE CAPITAL STRENGTH NET FEE INDEX OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE PRODUCT(S), OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE CAPITAL STRENGTH NET FEE INDEX OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE CAPITAL STRENGTH NET FEE INDEX<sup>®</sup> OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

**First Trust American Leadership Index**<sup>TM</sup> 

The First Trust American Leadership Index<sup>TM</sup> ("FTIS Index") is a product of and owned by FT Indexing Solutions LLC ("FTIS"). FIRST TRUST<sup>®</sup> and FIRST TRUST AMERICAN LEADERSHIP INDEX<sup>TM</sup> are trademarks of First Trust Portfolios L.P. (collectively, with FTIS and their respective affiliates, "First Trust"). The foregoing index and trademarks have been licensed for use for certain purposes by Licensee in connection with the Product.

The Dow Jones Internet Composite Index<sup>TM</sup> ("Dow Index") is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by FTIS and Licensee. S&P<sup>®</sup> is a trademark of Standard & Poor's Financial Service LLC. DOW JONES<sup>®</sup> and DOW JONES INTERNET COMPOSITE INDEX are trademarks of Dow Jones Trademark Holdings LLC ("Dow Jones"). The foregoing trademarks have been licensed for use by SPDJI and have been sublicensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and the Product.

The Nasdaq U.S. Rising Dividend Achievers Index<sup>TM</sup> and Nasdaq Technology Dividend Index<sup>TM</sup> are products of Nasdaq, Inc. (which with its affiliates is referred to as the "Nasdaq"). NASDAQ<sup>®</sup>, NASDAQ U.S. RISING DIVIDEND ACHIEVERS INDEX, and NASDAQ TECHNOLOGY DIVIDEND INDEX are trademarks of Nasdaq. The foregoing indices (collectively, the "Nasdaq Indices") and trademarks have been licensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and the Product.

The Nasdaq Riskalyze U.S. Large Cap Select Dividend Index<sup>TM</sup> ("Riskalyze Index") is a product of Riskalyze, Inc. ("Riskalyze"). RISKALYZE<sup>®</sup> and NASDAQ RISKALYZE U.S. LARGE CAP SELECT DIVIDEND INDEX are trademarks of Riskalyze. NASDAQ<sup>®</sup> is a trademark of Nasdaq, Inc. The foregoing index and trademarks have been licensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and the Product.

The Product is not issued, sponsored, endorsed, sold, recommended, or promoted by First Trust, SPDJI, Dow Jones, Nasdaq, Riskalyze, or their respective affiliates (collectively, the "Companies"). The Companies have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to the Product. The Companies make no representation or warranty, express or implied, to the owners of any product based on the FTIS Index, Dow Index, Nasdaq Indices, or Riskalyze Index, or to any member of the public regarding the advisability of investing in securities generally or in products based on the FTIS Index, Dow Index, Nasdaq Indices, or Riskalyze Index particularly, or the ability of the FTIS Index, Dow Index, Nasdaq Indices, or Riskalyze Index to track general stock market performance. The Companies' only relationship to Licensee is in the licensing of the certain trademarks, trade names, and service marks and the use of the FTIS Index, Dow lndex, Nasdaq Indices, and Riskalyze Indices, which are determined, composed and calculated without regard to Licensee or the Product. The Companies have no obligation to take the needs of Licensee, or the owners of the Product, or the sponsors or owners of products based on the FTIS Index, Dow Index, Nasdaq Indices or Riskalyze Index into consideration when determining, composing, or calculating the FTIS Index, Dow lndex, Nasdaq Indices, and Riskalyze Index. The Companies are not responsible for and have not participated in the determination or calculation of the Product. There is no assurances from the Companies that products based on the FTIS Index, Dow lndex, Nasdaq Indices, or Riskalyze Index will accurately track index performance or provide positive investment returns. The Companies are not investment advisors. Inclusion of a security or financial instrument within an index is not a recommendation by the Companies to buy, sell, or hold such security or financial instrument, nor is it considered to be investment advice.

THE COMPANIES DO NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS, COMPLETENESS, AND/OR UNINTERRUPTED CALCULATION OF THE PRODUCT, FTIS INDEX, DOW INDEX, NASDAQ INDICES, RISKALYZE INDEX, OR ANY DATA INCLUDED THEREIN OR ANY COMMUNICATION WITH RESPECT THERETO, INCLUDING, ORAL, WRITTEN, OR ELECTRONIC COMMUNICATIONS. THE COMPANIES SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS IN THE PRODUCT, FTIS INDEX, DOW INDEX, NASDAQ INDICES, OR RISKALYZE INDEX. THE COMPANIES MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE RESULTS TO BE OBTAINED BY OWNERS OF THE PRODUCT OR OF PRODUCTS BASED ON THE FTIS INDEX, DOW INDEX, NASDAQ INDICES, OR RISKALYZE INDEX, OR BY ANY OTHER PERSON OR ENTITY FROM THE USE OF THE FTIS INDEX, DOW

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INDEX, NASDAQ INDICES, OR RISKALYZE INDEX, OR ANY DATA INCLUDED THEREIN. THE COMPANIES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE PRODUCT, FTIS INDEX, DOW INDEX, NASDAQ INDICES, RISKALYZE INDEX, OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE COMPANIES BE SUBJECT TO ANY DAMAGES OR HAVE ANY LIABILITY FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES OR LOSSES, INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME, OR GOODWILL, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN LICENSEE AND THE COMPANIES.

**Nasdaq-100 Index**<sup>®</sup> 

The Product(s) is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its affiliates (Nasdaq, with its affiliates, are referred to as the "Corporations"). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Product(s). The Corporations make no representation or warranty, express or implied to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly, or the ability of the Nasdaq-100 Index<sup>®</sup>, to track general stock market performance. The Corporations' only relationship to The Lincoln National Life Insurance Company ("Licensee") is in the licensing of the Nasdaq<sup>®</sup>, Nasdaq-100 Index<sup>®</sup>, and certain trade names of the Corporations and the use of the Nasdaq-100 Index<sup>®</sup> which is determined, composed and calculated by Nasdaq without regard to Licensee or the Product(s). Nasdaq has no obligation to take the needs of the Licensee or the owners of the Product(s) into consideration in determining, composing or calculating the Nasdaq-100 Index<sup>®</sup>. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. The Corporations have no liability in connection with the administration, marketing or trading of the Product(s).

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF NASDAQ-100 INDEX<sup>®</sup> OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE PRODUCT(S), OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE NASDAQ-100 INDEX<sup>®</sup> OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE NASDAQ-100 INDEX<sup>®</sup> OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

------

The SAI includes additional information about the Contract and Lincoln New York, and is incorporated by reference in this prospectus. The SAI is dated the same date as this prospectus. We will provide the SAI without charge upon request. You may obtain a free copy of the SAI and submit inquiries by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Mailing: Lincoln Life & Annuity Company of New York, PO Box 2348, Fort Wayne, IN 46801-2348

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Visiting: www.lfg.com/VAprospectus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Emailing: CustServSupportTeam@lfg.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Calling: 1-877-737-6872

You may also obtain reports and other information about the Company on the SEC's website at www.sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov. The SEC file numbers and the Contract's contract identifier number are listed below.

**SEC File No.:**

333-283685

**EDGAR Contract Identifier:**

C000257789

------

SAI 1

**STATEMENT OF ADDITIONAL INFORMATION (SAI)**

**Dated May 8, 2026**

**Relating to Prospectus Dated May 8, 2026 for**

***Lincoln Level Advantage* 2**<sup>®</sup> **B-Share**

**Lincoln Life & Annuity Company of New York**

The SAI provides you with additional information about Lincoln New York and your Contract. It is not a prospectus.

A copy of the product prospectus dated May 8, 2026, may be obtained without a charge by writing to the Servicing Office: Lincoln New York Customer Service, Lincoln Life & Annuity Company of New York, PO Box 2348, Fort Wayne, IN 46801-2348, by calling: 1-877-737-6872, or by emailing: CustServSupportTeam@lfg.com and requesting a copy of the *Lincoln Level Advantage* 2<sup>®</sup> B-Share product prospectus.

****TABLE OF CONTENTS** OF THE SAI**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Contents** | **Page** |
| [Special Terms](#xx_5f0e3da4-d34a-4a27-abf4-49d32c0e52d6_1) | &nbsp;&nbsp;&nbsp; B-2 |
| [General Information and History](#xx_5f0e3da4-d34a-4a27-abf4-49d32c0e52d6_1) | &nbsp;&nbsp;&nbsp; B-2 |
| [Lincoln Life & Annuity Company of New York](#xx_5f0e3da4-d34a-4a27-abf4-49d32c0e52d6_1) | &nbsp;&nbsp;&nbsp; B-2 |
| [Non-Principal Risks of Investing In The](#xx_5f0e3da4-d34a-4a27-abf4-49d32c0e52d6_1)<br> [Contract](#xx_5f0e3da4-d34a-4a27-abf4-49d32c0e52d6_1)<br>| &nbsp;&nbsp;&nbsp; B-2 |
| [Services](#xx_5f0e3da4-d34a-4a27-abf4-49d32c0e52d6_2) | &nbsp;&nbsp;&nbsp; B-3 |
| [Purchase of Securities Being Offered](#xx_5f0e3da4-d34a-4a27-abf4-49d32c0e52d6_2) | &nbsp;&nbsp;&nbsp; B-3 |

---

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| | |
|:---|:---|
| **Contents** | **Page** |
| [Contract Adjustment – Interim Value](#xx_5f0e3da4-d34a-4a27-abf4-49d32c0e52d6_2)<br> [Calculation](#xx_5f0e3da4-d34a-4a27-abf4-49d32c0e52d6_2)<br>| &nbsp;&nbsp;&nbsp; B-3 |
| [Principal Underwriter](#xx_5f0e3da4-d34a-4a27-abf4-49d32c0e52d6_9) | &nbsp;&nbsp;&nbsp; B-10 |
| [Contract Information](#xx_5f0e3da4-d34a-4a27-abf4-49d32c0e52d6_9) | &nbsp;&nbsp;&nbsp; B-10 |
| [Additional Services](#xx_5f0e3da4-d34a-4a27-abf4-49d32c0e52d6_9) | &nbsp;&nbsp;&nbsp; B-10 |
| [Financial Statements](#xx_5f0e3da4-d34a-4a27-abf4-49d32c0e52d6_9) | &nbsp;&nbsp;&nbsp; B-10 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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**Special Terms** 

The special terms used in this SAI are the ones defined in the prospectus.

**General Information and History** 

**Lincoln Life & Annuity Company of New York** 

Lincoln Life & Annuity Company of New York (Lincoln New York or Company) is a stock life insurance company chartered in 1897 and now domiciled in New York. Lincoln New York is a subsidiary of The Lincoln National Life Insurance Company (Lincoln Life). Lincoln Life is an Indiana-domiciled insurance company, engaged primarily in the direct issuance of life insurance contracts and annuities. Lincoln Life is wholly owned by Lincoln National Corporation (LNC), a publicly held insurance and financial services holding company incorporated in Indiana. Lincoln New York is obligated to pay all amounts promised to Contractowners under the contracts.

***Our Financial Condition.*** Any amounts that we may pay under the Contract are subject to our financial strength and claims-paying ability and our long-term ability to make such payments. We issue other types of insurance policies and financial products in addition to the Contract. We also pay our obligations under these products from our assets in the general account. Certain assets backing the Contracts are held in an uninsulated, non-unitized separate account (the SA). The assets of the SA and the general account are subject to the general liabilities of the Company and, therefore, to the Company's general creditors. In the event of an insolvency or receivership, payments we make from our general account to satisfy claims under the Contract would generally receive the same priority as our other Contractowner obligations.

The general account is subject to regulation and supervision by the New York State Department of Financial Services. The laws and regulations applicable to us regulate the investments we can make with assets held in the SA and our general account. In general, those laws and regulations determine the amount and type of investments which we can make with general account assets.

In addition, state insurance regulations require that insurance companies calculate and establish on their financial statements, a specified amount of reserves in order to meet the contractual obligations to pay the claims of our Contractowners. In order to meet our claims-paying obligations, we regularly monitor our reserves to ensure we hold sufficient amounts to cover actual or expected contract and claims payments. However, it is important to note that there is no guarantee that we will always be able to meet our claims paying obligations, and that there are risks to purchasing any insurance product.

State insurance regulators also require insurance companies to maintain a minimum amount of capital in excess of liabilities, which acts as a cushion in the event that the insurer suffers a financial impairment, based on the inherent risks in the insurer's operations. These risks include those associated with losses that we may incur as the result of defaults on the payment of interest or principal on assets held in our general account, which include bonds, mortgages, general real estate investments, and stocks, as well as the loss in value of these investments resulting from a loss in their market value.

***How to Obtain More Information.*** We encourage both existing and prospective Contractowners to read and understand our financial statements. We prepare our financial statements on both a statutory basis and according to Generally Accepted Accounting Principles (GAAP). Our audited GAAP financial statements, are incorporated by reference into this SAI. See Financial Statements below. You may obtain our audited statutory financial statements and any unaudited statutory financial statements that may be available by visiting our website at www.LincolnFinancial.com.

You also will find on our website information on ratings assigned to us by one or more independent rating organizations. These ratings are opinions of an operating insurance company's financial capacity to meet the obligations of its insurance and annuity contracts based on its financial strength and/or claims-paying ability.

**Non-Principal Risks of Investing In The Contract** 

**Opportunity Cost.** Principal amounts committed to an annuity contract are only available to choose from investment options available in the Contract, potentially causing you an opportunity cost.

**Dying early.** If you die earlier than expected, your designated beneficiary may not receive the full benefit of the future payments.

**Divorce.** If you get divorced, you could forfeit some or all of the value of your annuity to your former spouse.

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**Services** 

**Independent Registered Public Accounting Firm** 

Ernst & Young LLP, independent registered public accounting firm, One Commerce Square, 2005 Market Street, Suite 700, Philadelphia, Pennsylvania, 19103, has audited the financial statements of Lincoln Life & Annuity Company of New York as of December 31, 2025 and 2024, and for each of the three years in the period ended December 31, 2025, as set forth in their report, which is included in this SAI and Registration Statement. The aforementioned financial statements are included herein in reliance on Ernst & Young LLP's report, given on their authority as experts in accounting and auditing.

**Purchase of Securities Being Offered** 

The contracts are offered to the public through licensed insurance agents who specialize in selling our products and who are also associated with broker-dealers; through independent insurance brokers who are also associated with broker-dealers; and through certain securities brokers/dealers selected by us whose personnel are legally authorized to sell annuity products. There are no special purchase plans for any class of prospective buyers. However, under certain limited circumstances described in the prospectus under the section Charges and Other Deductions, any applicable account fee and/or surrender charge may be reduced or waived.

**Contract Adjustment – Interim Value Calculation** 

**Interim Value for Indexed Segments with no Annual Locks** 

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

(1) is the value of the Fixed Income Asset Proxy of a Segment on the Valuation Date the Interim Value is calculated. It is determined for a Segment as: **C x [1 / (1 + E)**<sup>D</sup> **x (1 + E)**<sup>D</sup> **/ (1 + F)**<sup>D</sup>**]**

<u>where:</u> 

**C =** is the Crediting Base of the Segment on the Valuation Date of the calculation.

**D =** is the total calendar days remaining in the Indexed Term divided by 365.

**E =** is the Discount Rate that applies to the Segment on the Start Date of the Segment.

If an election to lock and reset a Segment is exercised during the Indexed Term, F is the Discount Rate that applies to the Segment on the Reset Date.

**F =** is the Discount Rate that applies to the Segment on the Valuation Date.

(2) is the market value of the Derivative Asset Proxy, determined solely by us, on the Valuation Date of the calculation.

**Interim Value for Indexed Segments with Annual Locks** 

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

(1) is the value of the Fixed Income Asset Proxy of a Segment on the Valuation Date the Interim Value is calculated. It is determined for a Segment as: **C x [1 / (1 + E)**<sup>D</sup> **x (1 + E)**<sup>D</sup> **/ (1 + F)**<sup>D</sup>**]**

<u>where:</u> 

**C =** is the initial Crediting Base of the Segment that has been proportionately adjusted for any withdrawals, surrender charges, premium taxes, or rider fees and charges that have occurred during the Indexed Term prior to the Valuation Date of the calculation.

**D =** is the total calendar days remaining in the Indexed Term divided by 365.

**E =** is the Discount Rate that applies to the Segment on the Start Date of the Segment.

If an election to lock and reset a Segment is exercised during the Indexed Term, F is the Discount Rate that applies to the Segment on the Reset Date.

**F =** is the Discount Rate that applies to the Segment on the Valuation Date.

(2) is the market value of the Derivative Asset Proxy, determined solely by us, on the Valuation Date of the calculation.

Each component of the calculation is further explained as follows:

1. **Fixed Income Asset Proxy.** The Fixed Income Asset Proxy is a hypothetical fixed income asset that is meant to represent the

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market value of the investment instruments supporting the Segment.

The Discount Rate is derived from the Reference Rate, which is the sum of a U.S. Constant Maturity Treasury (CMT) yield plus a

market observable spread of investment grade U.S. corporate bonds.

If the U.S. Constant Maturity Treasury yield(s) are not published for a particular day or we are delayed in receiving these values, then we will use the yield(s) on the last day they were published. If the U.S. Constant Maturity Treasury yield(s) are no longer published, are not published for an extended period, or are discontinued, then we may substitute another suitable method for

determining these components of the Reference Rate.

If the U.S. Constant Maturity Treasury yield(s) are not published for a time to maturity that matches the selected duration, then

the yield(s) will be interpolated between the yield(s) for maturities that are published.

If the market observable spread(s) of investment grade U.S. Corporate Bonds are not published for a particular day, or we are delayed in receiving these values then we will use the spread(s) on the last day they were published. If these components are no longer published, are not published for an extended period, or are discontinued, then we may substitute another suitable method

for determining these components of the Reference Rate.

We reserve the right to change the methodology of the Interim Value calculation at any time and at our sole discretion.

2. **Derivative Asset Proxy**. We utilize a fair market methodology to value the replicating portfolio of financial instruments that sup

port the product.

The Derivative Asset Proxy is determined assuming a package of derivative assets and other financial instruments, determined solely by Us, that replicates the Performance Rate on the End Date of the Segment. The value of the package of derivative assets and other financial instruments is determined on any Valuation Date that the Interim Value is calculated for a Segment. The valuation of the financial instruments is based on standard methods for valuing financial instruments and based on inputs from third party vendors. The methodology used to value these financial instruments is determined solely by us and may vary, higher or lower, from other estimated valuations or the actual selling price of identical financial instruments. Any variance between our estimated fair value price and other estimated or actual prices may be different from Segment type to Segment type and may

also change from day to day.

The options or other instruments for each Indexed Account type are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. At-the money call option: This represents the market value of the potential to receive an amount equal to the percentage growth in the Index during the Indexed Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Out-of-the-money call option: This represents the market value of the potential for gain in excess of the Performance Cap rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Out-of-the-money put option: This represents the market value of the potential to receive an amount equal to the excess loss beyond the Protection Level.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Digital option: This represents the market value of the option to provide the Performance Trigger Rate under zero or positive Index returns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. At-the money put option: This represents the market value of the potential to receive an amount equal to the percentage loss of the index during the Indexed Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. Dual structure: This represents the market value of receiving a maturity amount equal to the Dual Performance Trigger Rate or Dual Rate at the end of the Indexed Term independent of the underlying index returns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NOTE: Put option C will always reduce the Interim Value even if the Index has increased during the Indexed Term.

For each Segment with no Annual Lock with Performance Cap rates and Protection Levels, the replicating portfolio of options is equal to: A minus B minus C.

For each Segment with Performance Trigger Rates and Protection Levels, the replicating portfolio of options is equal to: D minus C.

For each Segment with a Dual Performance Trigger Rate and Protection Level, the replicating portfolio of financial instruments is equal to: F minus C.

For each Segment with Annual Lock, we designate and value a replicating (derivative) structure which is tied to the compounded performance for each year of the Annual Lock Segment. The market standard model is adjusted by us to account for additional market risks relevant to the Annual Lock Segment.

For each Dual Plus Segment, the replicating portfolio of financial instruments is equal to: F plus B (at the Dual Rate) minus B (at the Performance Cap Rate) minus E.

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The key inputs, including but not limited to the following, are also incorporated into the models:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Implied Volatility of the Index—This input varies with (i) how much time remains until the Segment End Date, which is determined by using an expiration date for the designated option that corresponds to that time remaining and (ii) the relationship between the strike price of that option and the level of the index at the time of the calculation (including the potential for resets of each Annual Lock Period).

This relationship is referred to as the "moneyness" of the option described above, and is calculated as the ratio of current price to the strike price. Direct market data for these inputs for any given early withdrawal is generally not available. This is because options on the Index that actually trade in the market have specific maturity dates and moneyness values that are unlikely to precisely match the Segment End Date (or remaining Annual Lock Periods) and moneyness of the designated option that we use in our calculations. Accordingly, we interpolate between the implied volatility quotes that are based on the actual maturities and moneyness values.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Interest Rate—We use key derivative interest rates obtained from information provided by independent third-parties which are recognized financial reporting vendors. Interest rates are obtained for maturities adjacent to the actual time remaining in the Segment at the time of the early withdrawal. We use linear interpolation to derive the exact remaining duration rate needed as the input.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Index Dividend Yield—On a daily basis, we use the projected annual dividend yield across the entire index obtained from information provided by independent third-party financial institutions. This value is a widely used assumption and is readily available from recognized financial reporting vendors.

In addition, when we calculate the Interim Value, we calculate market values of financial instruments each business day based on inputs from outside vendors. Inputs obtained from these outside vendors may vary over time based on market conditions and changes in valuation standards. If we are delayed in receiving these values, we will use the option value on the last day it was available to calculate a new Interim Value.

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**Examples**

The following examples demonstrate how the Interim Value is calculated in different scenarios for Indexed Segments with Performance Caps and Protection Levels.

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| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **6 Year** | **6 Year** |
| Indexed Term length  | &nbsp;&nbsp; 12 <br> months<br>| &nbsp;&nbsp; 72 <br> months<br>| &nbsp;&nbsp; 72 <br> months<br>|
| Months since Indexed Term Start Date | 9 | 69 | 15 |
| Indexed Crediting Base | $1000 | $1000 | $1000 |
| Protection Level | 10% | 10% | 10% |
| Performance Cap | 12% | 100% | 100% |
| Months to End Date | 3 | 3 | 57 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | |
|:---|:---|:---|:---|
| **Change in Index Value is -30%** | **1 Year** | **6 Year** | **6 Year** |
| 1. Fair value of the fixed income asset proxy  | $997 | $997 | $940 |
| 2. Fair value of derivative asset proxy | $(197) | $(197) | $(163) |
| Interim Value = Sum of 1 + 2 | $800 | $800 | $777 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not <br> change prior to the End Date)<br>| $800 | $800 | $800 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | |
|:---|:---|:---|:---|
| **Change in Index Value is -10%** | **1 Year** | **6 Year** | **6 Year** |
| 1. Fair value of the fixed income asset proxy  | $997 | $997 | $940 |
| 2. Fair value of derivative asset proxy | $(28) | $(27) | $(6) |
| Interim Value = Sum of 1 + 2 | $969 | $970 | $934 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not <br> change prior to the End Date)<br>| $1000 | $1000 | $1000 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | |
|:---|:---|:---|:---|
| **Change in Index Value is 20%** | **1 Year** | **6 Year** | **6 Year** |
| 1. Fair value of the fixed income asset proxy  | $997 | $997 | $940 |
| 2. Fair value of derivative asset proxy | $104 | $203 | $210 |
| Interim Value = Sum of 1 + 2 | $1101 | $1200 | $1150 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not <br> change prior to the End Date)<br>| $1120 | $1200 | $1200 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Change in Index Value is 40%** | **1 Year** | **6 Year** | **6 Year** |
| 1. Fair value of the fixed income asset proxy | $997 | $997 | $940 |
| 2. Fair value of derivative asset proxy | $119 | $401 | $335 |
| Interim Value = Sum of 1 + 2 | $1116 | $1398 | $1275 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not <br> change prior to the End Date)<br>| $1120 | $1400 | $1400 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

The following examples demonstrate how the Interim Value is calculated in different scenarios for Indexed Segments with Performance Trigger Rates and Protection Levels.

---

| | | |
|:---|:---|:---|
|  | **1 Year** | **1 Year** |
| Indexed Term length  | &nbsp;&nbsp; 12 <br> months<br>| &nbsp;&nbsp; 12 <br> months<br>|
| Months since Indexed Term Start Date | 7 | 4 |
| Indexed Crediting Base | $1000 | $1000 |
| Protection Level | 15% | 15% |
| Performance Trigger Rate | 12.5% | 12.5% |
| Months to End Date | 5 | 8 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is -15%** | **1 Year** | **1 Year** |
| 1. Fair value of the fixed income asset proxy  | $983 | $973 |
| 2. Fair value of derivative asset proxy | $(30) | $(33) |
| Interim Value = Sum of 1 + 2 | $953 | $940 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1000 | $1000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is -5%** | **1 Year** | **1 Year** |
| 1. Fair value of the fixed income asset proxy  | $983 | $973 |
| 2. Fair value of derivative asset proxy | $30 | $24 |
| Interim Value = Sum of 1 + 2 | $1013 | $997 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1000 | $1000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is 10%** | **1 Year** | **1 Year** |
| 1. Fair value of the fixed income asset proxy  | $983 | $973 |
| 2. Fair value of derivative asset proxy | $93 | $83 |
| Interim Value = Sum of 1 + 2 | $1076 | $1056 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1125 | $1125 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is 20%** | **1 Year** | **1 Year** |
| 1. Fair value of the fixed income asset proxy  | $983 | $973 |
| 2. Fair value of derivative asset proxy | $113 | $105 |
| Interim Value = Sum of 1 + 2 | $1096 | $1078 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1125 | $1125 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

The following examples demonstrate how the Interim Value is calculated in different scenarios for Indexed Segments with Dual Performance Trigger Rates and Protection Level.

---

| | |
|:---|:---|
|  | **1 Year** |
| Indexed Term length  | &nbsp;&nbsp; 12 <br> Months<br>|
| Months since Indexed Term Start Date | 3 |
| Indexed Crediting Base | $1000 |
| Protection Level | 10% |
| Dual Performance Trigger Rate | 6% |
| Months to End Date | 9 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is -15%** | **1 Year** | **1 Year** |
| 1. Fair Value of the fixed income asset proxy  | $993 | $980 |
| 2. Fair Value of derivative asset proxy | $(4) | $(24) |
| Interim Value = Sum of 1 + 2 | $989 | $956 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1010 | $1010 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is -5%** | **1 Year** | **1 Year** |
| 1. Fair Value of the fixed income asset proxy  | $993 | $980 |
| 2. Fair Value of derivative asset proxy | $43 | $20 |
| Interim Value = Sum of 1 + 2 | $1036 | $1000 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1060 | $1060 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is 10%** | **1 Year** | **1 Year** |
| 1. Fair Value of the fixed income asset proxy  | $993 | $980 |
| 2. Fair Value of derivative asset proxy | $59 | $49 |
| Interim Value = Sum of 1 + 2 | $1052 | $1029 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1060 | $1060 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is 20%** | **1 Year** | **1 Year** |
| 1. Fair Value of the fixed income asset proxy  | $993 | $980 |
| 2. Fair Value of derivative asset proxy | $59 | $55 |
| Interim Value = Sum of 1 + 2 | $1052 | $1035 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1060 | $1060 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

The following examples demonstrate how the Interim Value is calculated in different scenarios for Dual Plus Indexed Segments.

---

| | |
|:---|:---|
|  | **6 Year** |
| Indexed Term length  | &nbsp;&nbsp; 72 <br> Months<br>|
| Months since Indexed Term Start Date | 18 |
| Indexed Crediting Base | $1000 |
| Dual Rate | 15% |
| Performance Cap | 70% |
| Months to End Date | 54 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is -15%** | **6 Year** | **6 Year** |
| 1. Fair Value of the fixed income asset proxy  | $977 | $934 |
| 2. Fair Value of derivative asset proxy | $(10) | $(12) |
| Interim Value = Sum of 1 + 2 | $967 | $922 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1000 | $1000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is -5%** | **6 Year** | **6 Year** |
| 1. Fair Value of the fixed income asset proxy  | $977 | $934 |
| 2. Fair Value of derivative asset proxy | $67 | $57 |
| Interim Value = Sum of 1 + 2 | $1044 | $991 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1100 | $1100 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is 10%** | **6 Year** | **6 Year** |
| 1. Fair Value of the fixed income asset proxy  | $977 | $934 |
| 2. Fair Value of derivative asset proxy | $175 | $149 |
| Interim Value = Sum of 1 + 2 | $1152 | $1083 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1150 | $1150 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is 20%** | **6 Year** | **6 Year** |
| 1. Fair Value of the fixed income asset proxy  | $977 | $934 |
| 2. Fair Value of derivative asset proxy | $245 | $205 |
| Interim Value = Sum of 1 + 2 | $1222 | $1139 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1200 | $1200 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; **The following example demonstrates the effect of taking a withdrawal when the Interim Value is down from the initial Purchase Payment and there are** <br> **Surrender Charges applicable.** | &nbsp;&nbsp; **The following example demonstrates the effect of taking a withdrawal when the Interim Value is down from the initial Purchase Payment and there are** <br> **Surrender Charges applicable.** | &nbsp;&nbsp; **The following example demonstrates the effect of taking a withdrawal when the Interim Value is down from the initial Purchase Payment and there are** <br> **Surrender Charges applicable.** |
| Initial Purchase Payment: | $50000 | &nbsp;&nbsp; This equals the total Crediting Base for all <br> Indexed Accounts selected.<br>|
| Current Contract Value: | $45000 | &nbsp;&nbsp; This is the sum of the Interim Value of all <br> Indexed Segments.<br>|
| Withdrawal requested: | $9000 | &nbsp;&nbsp; This is 20% of the current Contract Value <br> (and exceeds the amount that is free of <br> surrender charges).<br>|
| Surrender charge: | $315 | &nbsp;&nbsp; Based on a surrender charge rate of 7% <br> and applied to the portion of the <br> withdrawal that exceeds 10% of Contract <br> Value.<br>|
| Interim Value after withdrawal: | $35685 | &nbsp;&nbsp; This is the total reduction of 20.70% from <br> current Contract Value.<br>|
| Crediting Base after withdrawal: | $39650 | &nbsp;&nbsp; The Crediting Base is reduced <br> proportionately by 20.70%.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Principal Underwriter** 

Lincoln Financial Distributors, Inc., ("LFD") is a wholly owned subsidiary of Lincoln National Corporation and an affiliate of Lincoln New York as a result of common control. LFD serves as the principal underwriter (the "Principal Underwriter") for the Contracts, as described in the prospectus. The offering of the Contracts is continuous. The Principal Underwriter has also entered into selling agreements with other broker-dealers ("Selling Firms") for the sale of the contracts. Sales representatives who are registered with Selling Firms are appointed as our insurance agents. LFD, in its capacity as Principal Underwriter, has paid no sales compensation to date in connection with the Contracts. The Principal Underwriter retained no underwriting commissions for the sale of the contracts. LFD maintains its principal place of business at 130 North Radnor Chester Road, Radnor, Pennsylvania 19087.

**Contract Information**

**Additional Services** 

**Automatic Withdrawal Service (AWS)**—AWS provides an automatic, periodic withdrawal of Contract Value to you. AWS may take place on either a monthly, quarterly, semi-annual or annual basis, as selected by the Contractowner. You may elect to participate in AWS at the time of application or at any time before the Annuity Commencement Date by sending a written request or in another manner acceptable to us. The minimum Contract Value required to establish AWS is $10,000. You may cancel or make changes to your AWS program at any time by sending a written request to us. If telephone authorization has been elected, certain changes may be made by telephone. Notwithstanding the requirements of the program, any withdrawal must be permitted under Section 401(a)(9) of the IRC for qualified plans or permitted under Section 72 of the IRC for nonqualified contracts. To the extent that withdrawals under AWS do not qualify for an exemption from the contingent deferred sales charge, we will assess any applicable surrender charges on those withdrawals. See Surrender Charge.

**Financial Statements** 

The December 31, 2025 financial statements of Lincoln New York are incorporated into this SAI by reference to the most recent Form N-VPFS ("[N-VPFS](https://www.sec.gov/Archives/edgar/data/1022095/000110465926039266/tm263458d2_nvpfs.htm)") filed with the SEC.

------

Prospectus 2

***Lincoln Level Advantage* 2**<sup>®</sup> **Advisory Index-Linked Annuity Contracts** 

May 8, 2026

Home Office:

Lincoln Life & Annuity Company of New York

120 Madison Street, Suite 1310

Syracuse, NY 13202

www.LincolnFinancial.com

Servicing Office:

Lincoln Life & Annuity Company of New York

PO Box 2348

Fort Wayne, IN 46801-2348

1-877-737-6872

This prospectus describes an individual single premium index-linked deferred annuity contract issued by Lincoln Life & Annuity Company of New York (Lincoln New York or Company).

This Contract can be purchased as either a nonqualified annuity or qualified retirement annuity under Section 408 (IRAs) or 408A (Roth IRAs) of the tax code. Generally, you do not pay federal income tax on the Contract's growth until it is paid out. You receive tax deferral for an IRA whether or not the funds are invested in an annuity contract. Further, if your Contract is a Roth IRA, you generally will not pay income tax on a distribution, provided certain conditions are met. Therefore, there should be reasons other than tax deferral for purchasing a qualified annuity contract. We offer other types of annuity contracts that may offer different investment options, features, and optional benefits. You should carefully consider whether or not this Contract is the best product for you.

This Contract is available through third-party financial intermediaries who may charge an advisory fee for their services. That fee is in addition to contract fees and expenses. If you elect to pay third-party advisory fees out of your Contract Value, each deduction may impact your Contract Value, reduce the Death Benefit and other guaranteed benefits, and may be subject to a negative Contract Adjustment, federal and state income taxes, and a 10% penalty tax.

**This Contract is a complex investment and involves risks, including potential loss of principal.** 

The Contract is designed to accumulate Contract Value and to provide retirement income over a certain period of time or for life subject to certain conditions. The Contract offers several Indexed Accounts which provide a rate of return based in part on the performance of an Index you select. This Contract also offers a Death Benefit payable upon the death of the Contractowner or Annuitant. This prospectus is used by both new purchasers and current Contractowners and describes all material rights and obligations of annuity purchasers under the Contract. The Contract described in this prospectus is only available in New York. The availability of investment options, Contract benefits, or other Contract features described in this prospectus may vary depending on the broker-dealer/financial intermediary through which the Contract is sold. See Appendix C — Broker-Dealer Material Variations for additional information.

The availability of Indexed Accounts, Contract benefits, or other Contract features described in this prospectus may vary depending on the broker-dealer/financial intermediary through which the Contract is sold. See Appendix C — Broker-Dealer Material Variations for additional information.

**If you are a new investor in the Contract, you may cancel your Contract within ten days of receiving it without paying fees or penalties although any Contract Adjustments will be applied. This free-look or cancellation period may be longer if you are replacing an existing contract. Upon cancellation, you will receive the greater of a full refund of the amount you paid with your application or your total Contract Value, less any withdrawals. You should review this prospectus and consult with your financial professional for additional information about the specific cancellation terms that may apply.** 

The minimum Purchase Payment for the Contract is $25,000. No Purchase Payments will be accepted after the date the Contract is issued. Accordingly, you will be unable to increase your Contract Value or Death Benefit by making subsequent Purchase Payments. The minimum allocation to an Indexed Account is $2,000 and you can only reallocate Contract Value to an Indexed Account on an Indexed Anniversary Date.

You may invest in one or more of the available Indexed Accounts, subject to any limitations described herein. See Appendix A – Investment Options Available Under The Contract. Indexed Accounts are established for either 1-Year or 6-Year Terms, and the return on these accounts at the end of the Indexed Term is based in part on the performance of a specified Index. Each Indexed Account will have either (i) a specified Performance Cap, which is the highest Performance Rate that we will credit; (ii) a Performance Trigger Rate that provides a specified rate of return if the performance of the Index is zero or positive; (iii) a Dual Performance Trigger Rate, which will either provide a specific rate of return if the performance of the Index is positive, zero or negative within the Protection Level or be added to the Index performance percentage and the Protection Level if the Index performance is negative and beyond the Protection Level; or (iv) a Dual Rate, which will provide either a minimum rate of return if the Index performance is between zero and the Dual Rate, or will be added to the Index performance if the Index performance is negative, and a Performance Cap that applies if the Index performance exceeds the Dual Rate. **We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger** 

------

**Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%. The amount of gain credited for each Indexed Segment at the end of an Indexed Term will be limited by the Performance Cap, Performance Trigger Rate or Dual Performance Trigger Rate we declare. We guarantee a minimum declared crediting rate for each Indexed Account. See Appendix A – Investment Options Available Under The Contract for the guaranteed minimum declared crediting rates for each Indexed Account.** 

The amount of loss from negative Index performance for each Indexed Segment at the end of an Indexed Term is limited by the Protection Level or the Dual Rate for that Segment. **Your Contract Value will not be impacted by any loss up to the applicable Protection Level or Dual Rate that you choose if you do not make withdrawals during the Indexed Term. Under extreme circumstances, you could lose up to 90% of your investment in an Indexed Account with a 10% Protection Level or a 10% Dual Rate, up to 85% of your investment in an Indexed Account with a 15% Protection Level or a 15% Dual Rate, up to 80% of your investment in an Indexed Account with a 20% Protection Level, and up to 75% of your investment in an Indexed Account with a 25% Protection Level. This potential of loss exists for each Indexed Term, and over the life of the Contract which could be much greater. We do not guarantee that the Contract will always offer Indexed Accounts that limit Index losses, in which case you could lose the entire amount of your investment.** 

**This Contract is not designed for short-term investing and is not appropriate for the investor who needs ready access to cash. Withdrawals could result in negative Contract Adjustments, taxes, and tax penalties.** Your risk of loss may be greater if you make a withdrawal prior to the End Date of an Indexed Term because a negative Contract Adjustment based on the Interim Value of the Indexed Segment may apply. The Interim Value for each Indexed Segment is calculated each Valuation Date prior to the End Date of the Indexed Term. The Interim Value calculation is not based on the value of the Index but the fair market value of the portfolio of investment instruments supporting the Indexed Segment. **Under extreme conditions a negative Contract Adjustment based on Interim Value could result in a loss of up to 100% of your Contract Value.** Such loss can occur even if an Index has increased in value. This means your Interim Value could reflect negative performance, even if the Index Value has increased.

If you withdraw Contract Value prior to the End Date of an Indexed Term (including the ongoing deduction of advisory fees), the withdrawal will cause an immediate reduction in your Indexed Crediting Base for each of your Segments in a proportion equal to the reduction in the Interim Value of each Segment. A proportional reduction could be larger than the dollar amount of your withdrawal. Reductions in your Indexed Crediting Base will negatively impact your Interim Value for the remainder of the Indexed Term and will result in a lower Segment Ending Value at the end of the Indexed Term. Once your Indexed Crediting Base is reduced due to a withdrawal during any Indexed Term, you cannot increase it during the remainder of the Indexed Term unless *Secure Lock*+<sup>®</sup> is exercised.

We hold all or a portion of the assets for our obligations for the Indexed Account options in a non-registered, non-insulated separate account, established by Us. **We do not guarantee how any of the Indexed Accounts will perform. There is a risk of loss of your investment because you agree to absorb all losses in excess of the level of protection you selected.** 

Investors should consult a financial professional about the Contract's features, benefits, risks, and fees, and whether the Contract is appropriate for the investor based upon your financial situation and objectives. We do not guarantee that all of the Indexed Account options will always be available. Our obligations under the Contract, including amounts to be paid to you from the Indexed Accounts, are subject to our financial strength and claims paying ability.

**Neither the U.S. Government nor any federal agency insures or guarantees your investment in the Contract. The Contracts are not bank deposits and are not endorsed by any bank or government agency.** 

**Additional information about certain investment products, including registered index-linked annuities, has been prepared by the SEC's staff and is available online at www.Investor.gov.**

**The Securities and Exchange Commission (SEC) has not approved or disapproved these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.** 

------

**Table of Contents** 

---

| | |
|:---|:---|
| Item | Page |
| [Special Terms](#xx_f86612c3-b817-4eef-8994-d7c15383f80b_1) | 4 |
| [Overview of the Contract](#xx_8ebb76dd-a12c-453f-b65b-46ebaaa306c5_1) | 6 |
| [Important Information You Should Consider About the](#xx_1a529729-7554-468d-8415-4f555f08e5d6_1)*[Lincoln Level Advantage](#xx_1a529729-7554-468d-8415-4f555f08e5d6_1)*[2](#xx_1a529729-7554-468d-8415-4f555f08e5d6_1)<sup>®</sup> [Advisory Index-linked Annuity Contract](#xx_1a529729-7554-468d-8415-4f555f08e5d6_1) | 9 |
| [Fee Tables](#xx_1a529729-7554-468d-8415-4f555f08e5d6_5) | 13 |
| [Principal Risks of Investing in the Contract](#xx_1a529729-7554-468d-8415-4f555f08e5d6_6) | 14 |
| [Indexed Accounts](#xx_1a529729-7554-468d-8415-4f555f08e5d6_9) | 17 |
| [Charges and Adjustments](#xx_1a529729-7554-468d-8415-4f555f08e5d6_25) | 33 |
| [The Contracts](#xx_1a529729-7554-468d-8415-4f555f08e5d6_26) | 34 |
| [Purchase Payment](#xx_1a529729-7554-468d-8415-4f555f08e5d6_27) | 35 |
| [Surrenders and Withdrawals](#xx_1a529729-7554-468d-8415-4f555f08e5d6_28) | 36 |
| [Benefits Available Under the Contract](#xx_1a529729-7554-468d-8415-4f555f08e5d6_29) | 37 |
| [Death Benefit](#xx_1a529729-7554-468d-8415-4f555f08e5d6_29) | 37 |
| [Annuity Payouts](#xx_1a529729-7554-468d-8415-4f555f08e5d6_32) | 40 |
| [Distribution of the Contracts](#xx_1a529729-7554-468d-8415-4f555f08e5d6_34) | 42 |
| [Federal Tax Matters](#xx_1a529729-7554-468d-8415-4f555f08e5d6_35) | 43 |
| [Additional Information](#xx_1a529729-7554-468d-8415-4f555f08e5d6_40) | 48 |
| [Voting Rights](#xx_1a529729-7554-468d-8415-4f555f08e5d6_40) | 48 |
| [Return Privilege](#xx_1a529729-7554-468d-8415-4f555f08e5d6_40) | 48 |
| [State Regulation](#xx_1a529729-7554-468d-8415-4f555f08e5d6_41) | 49 |
| [Reliance On Rule 12h-7](#xx_1a529729-7554-468d-8415-4f555f08e5d6_41) | 49 |
| [Appendix A — Investment Options Available Under The Contract](#xx_6a0c8b1d-c814-434e-8776-e38ccc541360_1) | A-1 |
| [Appendix B – Index Disclosures](#xx_93cadf62-b614-407c-be82-a606bd437715_1) | B-1 |

---

------

**Special Terms** 

In this prospectus, the following terms have the indicated meanings:

**Annual Locks**—An Indexed Account with Annual Locks is a multi-year account in which the performance is calculated on each Indexed Anniversary Date, but the performance is not credited to or deducted from the Indexed Segment until the End Date.

**Annuitant**—The person upon whose life the annuity benefit payments are based, and upon whose death a Death Benefit may be paid.

**Annuity Commencement Date**—The Valuation Date when payment of retirement income benefits begins under the Annuity Payout option you select.

**Annuity Payout**—A regularly scheduled payment (under any of the available annuity options) that occurs after the Annuity Commencement Date.

**Beneficiary**—The person you choose to receive any Death Benefit paid if you die before the Annuity Commencement Date.

**Contract**—The index-linked annuity contract you have entered into with Lincoln New York.

**Contract Adjustment**—A positive or negative adjustment to the Contract based on the Interim Value of an Indexed Segment.

**Contractowner** (you, your, owner)—The person who can exercise the rights within the Contract (decides on investment allocations, reallocations, payout option, designates the Beneficiary, etc.). Usually, but not always, the Contractowner is the Annuitant.

**Contract Value** (may be referred to as Account Value in marketing materials)—The sum of the current values of the Indexed Accounts (i.e. Interim Values if between the Start Date and the End Date of an Indexed Term).

**Contract Year**—Each 12-month period starting with the effective date of the Contract and starting with each contract anniversary after that.

**Crediting Method**—The method used in determining the Performance Rate for an Indexed Segment. There are several Crediting Methods including Performance Cap, Performance Trigger Rate, Dual Performance Trigger Rate, and Dual Plus.

**Death Benefit**—Before the Annuity Commencement Date, the amount payable to your designated Beneficiary if the Contractowner dies. As an alternative, the Contractowner may receive a Death Benefit upon the death of the Annuitant prior to the Annuity Commencement Date.

**Dual Performance Trigger Rate**—The rate used, in part, to determine the Performance Rate for an Indexed Segment at the end of the Indexed Term.

**Dual Rate**—The rate used, in part, to determine the Performance Rate for an Indexed Segment of a Dual Plus Indexed Account at the end of the Indexed Term.

**Dual Plus**—A Crediting Method that uses, in part, a Performance Cap and Dual Rate to determine the Performance Rate for an Indexed Segment at the end of the Indexed Term.

**End Date**—The last day of the Indexed Term.

**Fee-Based Financial Plan**—A wrap account, managed account or other investment program whereby an investment firm/professional offers asset allocation and/or investment advice for a fee. Such programs can be offered by broker-dealers, banks and registered investment advisers, trust companies and other firms. Under this arrangement, the Contractowner pays the investment firm/professional directly for services. Deductions made for advisory fees may impact your Contract Value, and may reduce the benefits under your Contract.

**Good Order**—The actual receipt at our Servicing Office of the requested transaction in writing or by other means we accept, along with all information and supporting legal documentation necessary to complete the transaction. The forms we provide will identify the necessary documentation. We may, in our sole discretion, determine whether any particular transaction request is in Good Order, and we reserve the right to change or waive any Good Order requirements at any time.

**Index—**The market index of which the performance is used to base the return of an Indexed Account.

**Index Value**—The published closing value of an Index on a Valuation Date. If an Index Value is not published for a particular day, we will use the closing Index Value on the next Valuation Date it is published.

**Indexed Account**—An investment option that provides a return based, in part, on the performance of an Index.

**Indexed Anniversary Date**—The same calendar day, each calendar year, as the day you first invested in an Indexed Segment.

**Indexed Crediting Base or Crediting Base**—An amount used in the calculation of the performance return and the Interim Value for an Indexed Segment.

**Indexed Segment or Segment**—The specific Indexed Account option(s) selected by a Contractowner for allocations of the Purchase Payment or reallocation of Contract Value.

**Indexed Term or Term**—The period of time during which Contract Value is invested in a particular Indexed Segment.

**Interim Value**—Your Contract Value for an Indexed Segment during an Indexed Term. The Interim Value is a calculated value and is used in the event that a withdrawal, Death Benefit payment, reallocation, annuitization, or surrender occurs at any time other than the Start Date or End Date of an Indexed Term. The Interim Value is also used when *Secure Lock+*<sup>®</sup> is chosen.

**Lincoln New York** (we, us, our, Company)—Lincoln Life & Annuity Company of New York.

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**Performance Cap or Cap**—The highest Performance Rate that can be credited to an Indexed Segment at the end of an Indexed Term for any positive Index performance.

**Performance Rate**—A rate of return for an Indexed Segment based on the performance of an Index over a specified period of time, adjusted for the applicable Protection Method and subject to the Crediting Method, depending on the Indexed Account you choose.

**Performance Trigger Rate**— The rate used to determine the Performance Rate for an Indexed Segment at the end of the Indexed Term if the Index performance is zero or positive.

**Protection Level**—The portion of loss that the Company will absorb from any negative Index performance. If the Index performance is negative by more than the Protection Level, there is a risk of loss of principal and any previously credited amount to the Contractowner. The Protection Level is not available on Dual Plus accounts.

**Protection Method**—The method used in protecting from negative Index performance at the end of an Indexed Term, including Protection Levels and Dual Rates.

**Purchase Payment**—The initial investment made by a single premium payment to purchase this Contract.

**Reset Date**—The most recent Valuation Date that an Indexed Segment was reset.

**Reset Rate**—The new Performance Cap if you choose choose to lock the Interim Value of an Indexed Segment before the end of the Indexed Term under *Secure Lock*+<sup>®</sup>.

***Secure Lock*+**<sup>®</sup>—A feature that allows the Interim Value to be locked in on any given Valuation Date, other than an Indexed Anniversary, for an Indexed Segment.

**Segment Ending Value**—The value of an Indexed Segment on the End Date after adjustment for the Performance Rate.

**Start Date**—The Valuation Date on which the Indexed Segment begins.

**Valuation Date**—Each day the New York Stock Exchange (NYSE) is open for trading.

**Valuation Period**—The period starting at the close of trading (normally 4:00 p.m., Eastern Time) on each day that the NYSE is open for trading (Valuation Date) and ending at the close of such trading on the next Valuation Date.

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**Overview of the Contract** 

**Purpose of the Contract** 

The *Lincoln Level Advantage* 2<sup>®</sup> Advisory Index-Linked Annuity contract is designed to accumulate Contract Value and to provide income over a certain period of time or for life, subject to certain conditions. The Contract can supplement your retirement income by providing a stream of income payments during the payout phase. The Contract offers several Indexed Accounts which provide a rate of return based in part on the performance of an Index you select and a Death Benefit payable to your designated Beneficiaries upon the death of a Contractowner or Annuitant.

This Contract is issued as part of a Fee-Based Financial Plan which is described in more detail in the Benefits Available Under The Contract – Additional Services section below.

This Contract may be appropriate if you have a long-term investment horizon. It is not intended for people who may need to make early or frequent withdrawals. See Surrenders and Withdrawals.

**Phases of the Contract** 

Your Contract has two phases: (1) an accumulation (savings) phase, prior to the Annuity Commencement Date; and (2) a payout (income) phase, after the Annuity Commencement Date.

**Accumulation (Savings) Phase.** To help you accumulate assets during the accumulation phase, you can invest your Purchase Payment and earnings in the Indexed Accounts available under the Contract, each of which has its own Index, Indexed Term, Crediting Method, and Protection Method. **The available Indexed Accounts are listed in Appendix A – Investment Options Available Under The Contract.** 

Different Crediting Methods and Protection Methods are available for your Indexed Accounts. We will credit positive, negative, or zero interest at the end of an Indexed Term to amounts allocated to an Indexed Account based, in part, on the performance of the Index. Interest is credited for any gain or deducted for any loss only on the End Date of an Indexed Segment. You could lose a significant portion of your investment if the Index declines in value.

The Protection Method you select determines the type of protection you will have for each Indexed Segment. For Indexed Accounts with Protection Level, the Protection Level is the portion of any negative Index performance that will not impact your Contract Value if you do not make any withdrawals until the End Date of the Indexed Segment. Your Contract Value will not be impacted up to the amount of the Protection Level you elect, and, after that, the Indexed Segment will be impacted for the remaining portion of the loss. For example, if the Index return is -15% and you have a 10% Protection Level, your Contract Value will not be impacted by the first 10% of negative Index performance and we will deduct 5% at the end of the Indexed Term. Any loss will reduce the amount of your investment in the Indexed Segments. The Contract offers Indexed Accounts with Protection Levels that protect you against losses of 10% to 25%.

For Indexed Accounts with a Dual Rate, if the Index performance is negative, your Performance Rate equals the Index performance plus the Dual Rate, which may result in either a negative or positive return. For example, if the Index return is -10% and you have a Dual Rate of 15%, we will credit 5% in interest at the end of the Indexed Term. If the Index return is -20% and you have a Dual Rate of 15%, we will deduct 5% in interest at the end of the Indexed Term. Any loss will reduce the amount of your investment in the Indexed Segments. The Contract offers Indexed Accounts with Dual Rates of 10% or 15%.

**We will always make at least one Indexed Account available under this Contract, but we do not guarantee that the Contract will always offer Indexed Accounts that limit Index losses.** 

The Crediting Method you select determines the Performance Rate for an Indexed Segment. Any applicable Crediting Method may limit the positive Index return used in calculating interest on the End Date of an Indexed Segment. Each Indexed Account will have either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i)

a specified Performance Cap, which is the highest Performance Rate that we will credit. For example, if the Index return is 12%, and the Performance Cap is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%;

ii)

a Performance Trigger Rate that provides a specified rate of return if the performance of the Index is zero or positive. For example, if the Index return is 12%, and the Performance Trigger Rate is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%. Alternatively, if the Index return is 1%, and the Performance Trigger Rate is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%;

iii)

a Dual Performance Trigger Rate, which will either provide a specific rate of return if the Index performance is positive, zero

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or negative within the Protection Level or be added to the Index performance and the Protection Level if the Index performance is negative and beyond the Protection Level. For example, if the Index return is 12%, and the Dual Performance Trigger Rate is 8%, we will credit 8% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 8%; if the Index return is 2% and the Dual Performance Trigger Rate is 8%, we will credit 8% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 8%; or

iv)

a Dual Rate, which will either provide a minimum rate of return if the Index performance is between zero and the Dual Rate, or will be added to the Index performance if the Index performance is negative. An Index Account with a Dual Rate will also have a Performance Cap, which is the highest Performance Rate that we will credit if the Index performance exceeds the Dual Rate. For example, if the Index return is 60%, and the Performance Cap is 50%, we will credit 50% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 50%; if the Index return is 4% and the Performance Cap is 50% and the Dual Rate is 15%, we will credit 15% in interest on the End Date of the Indexed Segment, your Segment Ending Value will increase by 15%.

In addition, the Reset Rate may limit a positive Index return if you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+<sup>®</sup>. We will reset the Indexed Segment Performance Cap rate, Performance Trigger Rate, or Dual Performance Trigger Rate for the remainder of the Indexed Term following the lock, and these Reset Rates may be lower than the original rates. For example, if the Performance Cap is 4% and you choose to lock in the Interim Value, then on the next Indexed Anniversary Date, we could reset the Performance Cap for the remaining Indexed Terms to 2%. If the Index return is 12%, we will credit 2% in interest on the End Date of the Indexed Segment.

**We guarantee a minimum declared crediting rate for each Indexed Account. We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%.** 

**Annuity (Income) Phase.** You can elect to annuitize your Contract and turn your Contract Value into a stream of income payments (sometimes called Annuity Payouts), at which time the accumulation phase of the Contract ends. These payments may continue for a set period of years, for as long as you live, or for the longer of the two.

If you annuitize, your investments will be converted to income payments and you will no longer be able to choose to make withdrawals from your Contract. All benefits during the accumulation phase (including guaranteed minimum Death Benefits) terminate upon annuitization.

**Primary Features and Options of the Contract** 

**Accessing your money.** During the accumulation phase, you can surrender the Contract or withdraw part of the Contract Value. If you surrender or take an early withdrawal, including the deduction of advisory fees, you may have to pay taxes and a tax penalty if you are younger than 59½. No interest will be credited to funds withdrawn or surrendered before the end of an Indexed Term. Additionally, if you surrender the Contract or withdraw from an Indexed Segment prior to its End Date, you will be subject to a Contract Adjustment based on the Interim Value.

***Secure Lock*+**<sup>®</sup>**.** On any Valuation Date, excluding an Indexed Anniversary, one time each Contract Year between the Term Start Date and Term End Date, you may request to lock the Interim Value ("*Secure Lock*+<sup>®</sup>") of an Indexed Segment.

You could lose a significant amount of money due to the Contract Adjustments based on Interim Values if amounts, are removed from an Indexed Segment prior to the Segment End Date. The Interim Value calculated at the end of the Valuation Date will be locked in and once selected, a *Secure Lock*+<sup>®</sup> is irrevocable. If you request a lock-in of the Indexed Segment when the Interim Value is below your Indexed Crediting Base, Protection Methods do not apply and you assume all loss. *Secure Lock*+<sup>®</sup> is not available with all Crediting Methods and Protection Methods or upon the selection of an Annuity Payout option. Withdrawals prior to the Segment End Date may have a significant impact on your Contract Value. See the Contract Adjustments discussion below.

**Tax treatment*.*** Earnings (if any) on your investments are generally tax-deferred. You are taxed only when: (1) you take a withdrawal or surrender; (2) you receive an income payment from the Contract; or (3) upon payment of a Death Benefit.

**Death Benefit.** Your Contract includes a Death Benefit that will be paid upon the death of either the Contractowner(s) or the Annuitant.

**Additional Service.** The Automatic Withdrawal Service allows you to automatically take periodic withdrawals from your Contract, and is available under the Contract for no additional charge.

**Fees Associated with Fee-Based Financial Plans.** You may provide authorization to have your advisory fees paid to your financial professional's investment firm from your Contract Value. Advisory fee withdrawals may not be treated as a distribution for federal tax purposes under certain conditions. Certain firms may not allow withdrawals to pay advisory fees from your Contract Value. These

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payments will be treated as withdrawals from your Contract Value and may result in a significant reduction in your Death Benefit. An Advisory fee withdrawal from the Contract will always reduce the Contract Value and Contract Value portion of the elected Death Benefit on a dollar-for-dollar basis. Over time, withdrawals taken for the payment of advisory fees could significantly reduce your Contract Value. Please discuss the impact of deducting advisory fees from your Contract Value prior to making any elections with your financial professional prior to making any election.

Additionally, if you elect to pay a third-party advisory fee out of your Contract Value, this deduction may result in a negative Contract Adjustment, reduce your Death Benefit, and may be subject to federal and state income taxes and a 10% federal penalty tax. See Federal Tax Matters – Payment of Investment Advisory Fees.

**Contract Adjustments** 

If you make any withdrawals, including the deduction of advisory fees, or terminate your Contract, reallocate Contract Value from an Indexed Segment, annuitize your Contract or upon payment of a Death Benefit from an Indexed Segment on any date prior to the Segment End Date, your Contract Value in the Indexed Segment will be subject to a Contract Adjustment based on Interim Value. You could lose a significant amount of money due to Contract Adjustments based on Interim Values if amounts are removed from an Indexed Segment prior to the Segment End Date. Your Interim Value may be less than the amount invested and may be less than the amount you would receive had you held the investment in the Indexed Segment until the Segment End Date. The Interim Value will generally be negatively affected by increases in the expected volatility of Index prices, interest rate increases, and by poor market performance. All other factors being equal, the Interim Value generally would be lower the earlier a withdrawal or surrender is made in a Term.

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**Important Information You Should Consider About the *Lincoln Level Advantage* 2**<sup>®</sup> **Advisory Index-linked Annuity Contract** 

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| **FEES, EXPENSES, AND ADJUSTMENTS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|

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| **Are There Charges or** <br> **Adjustments for Early** <br> **Withdrawals?**<br>| &nbsp;&nbsp; If you withdraw Contract Value prior to the End Date of an Indexed <br> Term, we will apply a Contract Adjustment based on Interim Value, <br> which could be negative, and you could lose up to 100% of your <br> investment due to the Contract Adjustment. For example, if you <br> allocate $100,000 to an Indexed Account and later withdraw the entire <br> amount before the Indexed Term has ended, you could lose up to <br> $100,000 of your investment. This loss will be greater (but never more <br> than 100%) if you also make a deduction to pay a third-party advisory <br> fee, or have to pay taxes, and tax penalties. Contract Adjustments are <br> applied to withdrawals, surrenders, reallocations, annuitizations and <br> Death Benefit payments prior to the End Date of an Indexed Term and <br> when *Secure Lock*+<sup>®</sup> is exercised.<br>| &nbsp;&nbsp; **●Fee Tables**<br> **●Charges and** <br> **Adjustments**<br>**●Charges and** <br> **Adjustments –** <br> **Contract** <br> **Adjustments**<br>|

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| **Are There Transaction** <br> **Charges?**<br>| &nbsp;&nbsp; **No:**<br> The Contract does not impose any transaction charges.<br>| &nbsp;&nbsp; **●Fee Tables**<br> **●Charges and** <br> **Adjustments**<br>**●Federal Tax Matters** <br> **— Payment of** <br> **Investment Advisory** <br> **Fees**<br>|

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| **Are There Ongoing Fees and** <br> **Expenses?**<br>| &nbsp;&nbsp; **Yes**. There is an implicit ongoing fee on Indexed Accounts to the extent <br> that your participation in Index gains is limited by the Company <br> through the use of a Performance Cap, Performance Trigger Rate, Dual <br> Performance Trigger Rate or Reset Rate. This means that your returns <br> may be lower than the Index's returns. In return for accepting this limit <br> on Index gains, you will receive some protection from Index losses. <br> Additionally, in certain cases your Contract Value may be subject to a <br> negative Interim Value adjustment.<br>| &nbsp;&nbsp; **●Fee Tables**<br> **●Charges and** <br> **Adjustments**<br>|

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|  | **RISKS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Is There a Risk of Loss** <br> **From Poor Performance?**<br>| &nbsp;&nbsp; **Yes:**<br> **●**You can lose money by investing in the Contract. Your investment in <br> the Indexed Accounts is subject to all losses in excess of the <br> Protection Method or Dual Rate you choose including any loss <br> experienced from a negative Index performance. **Under extreme** <br> **circumstances, you could lose up to 90% of your investment in an** <br> **Indexed Account with a 10% Protection Level or 10% Dual Rate,** <br> **up to 85% of your investment in an Indexed Account with a 15%** <br> **Protection Level or 15% Dual Rate, up to 80% of your investment** <br> **in an Indexed Account with a 20% Protection Level, and up to** <br> **75% of your investment in an Indexed Account with a 25%** <br> **Protection Level. We do not guarantee that the Contract will** <br> **always offer Indexed Accounts that limit Index losses, which** <br> **would mean risk of loss of the entire amount invested.**<br>●An Interim Value is calculated if an early withdrawal is taken. The <br> Interim Value formula may result in a loss even if the Index Value at <br> the time of the withdrawal is higher than the Index Value at the <br> beginning of the Indexed Term.<br>| &nbsp;&nbsp; **●Principal Risks of** <br> **Investing in the** <br> **Contract** <br>|

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| **RISKS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|

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| **Is This a Short-Term** <br> **Investment?**<br>| &nbsp;&nbsp; **No:**<br> ●This Contract is not designed for short-term investing and is not <br> appropriate for the investor who needs ready access to cash.<br>●Indexed interest will only be credited to an Indexed Account at the <br> end of an Indexed Term. No interest will be credited to funds <br> withdrawn or surrendered before the end of an Indexed Term.<br>●Withdrawals taken prior to the end of an Indexed Term may result in <br> a negative Contract Adjustment based on the Interim Value and loss <br> of positive Index performance. The Interim Value formula may result <br> in a loss even if the Index Value at the time of the withdrawal is <br> higher than the Index Value at the beginning of the Indexed Term.<br>●Surrenders and withdrawals are subject to ordinary income tax and <br> may be subject to tax penalties.<br>●At the end of an Indexed Term, you may reallocate the Indexed <br> Segment Ending Value to any available Indexed Account as long as <br> the reallocation request is received on or before the Indexed <br> Anniversary Date. If we do not hear from you by the end of the <br> Indexed Term, we will reallocate your Segment Ending Value into a <br> new Indexed Segment with the same Crediting Method, Indexed <br> Term, Index and Protection Method if available. A new rate will apply <br> based on the Indexed Segment you select, subject to the guaranteed <br> minimum rates. If the same type of Indexed Segment is not <br> available your Segment Ending Value will be moved to the 1-Year <br> S&P 500<sup>®</sup> Price Return Index with Performance Cap and 10% <br> Protection Level and will not be eligible for reallocation into another <br> Indexed Account until the next Indexed Anniversary Date.<br>| &nbsp;&nbsp; **●Principal Risks of** <br> **Investing in the** <br> **Contract**<br>**●Surrenders and** <br> **Withdrawals**<br>**●Fee Tables**<br> **●Charges and** <br> **Adjustments** <br>|

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| **RISKS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|

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| **What are the Risks** <br> **Associated** <br> **With the Investment** <br> **Options?**<br>| &nbsp;&nbsp; ●An investment in this Contract is subject to the risk of poor <br> investment performance of the Indexed Accounts you choose. <br> Performance can vary depending on the performance of the Indexes <br> linked to the Indexed Accounts.<br>●Each Indexed Account has its own unique risks and you should <br> review the available Indexed Accounts before making an investment <br> decision.<br>●The Crediting Method you select may limit positive (upside) Index <br> returns. This may result in you earning less than the Index return. <br> For example:<br>●If the Indexed Account has a Performance Cap, and the Index <br> return is 12% and the Performance Cap is 10%, we will credit <br> 10% in interest at the end of the Indexed Term.<br>●If the Indexed Account has a Performance Trigger Rate, and the <br> Index return is 12% and the Performance Trigger Rate is 10%, we <br> will credit 10% in interest at the end of the Indexed Term.<br>●If the Indexed Account has a Dual Performance Trigger Rate, and <br> the Index return is 12% and the Dual Performance Trigger Rate is <br> 8%, we will credit 8% in interest at the end of the Indexed Term.<br>●If the Indexed Account has a Dual Rate and Performance Cap, and <br> the Index return is 60% and the Performance Cap is 50%, we will <br> credit 50% in interest at the end of the Indexed Term.<br>●A Reset Rate may limit positive Index return if you choose to lock <br> the Interim Value of an Indexed Segment under *Secure Lock*+<sup>®</sup>. For <br> example, if the Index return is 12%, and the Reset Rate is a 2% <br> Performance Cap, we will credit 2% in interest at the end of the end <br> of the Indexed Term.<br>●While an Indexed Account with Dual Performance Trigger Rate or <br> Dual Plus may provide for a positive Performance Rate even in the <br> event of negative Index performance, there is no guarantee of <br> investment gain. Negative Index performance may result in <br> significant loss.<br>●The Protection Level will limit negative (downside) Index returns. <br> For example, if the Index return is -25% and the Protection Level is <br> 10%, we will deduct 15% (the amount that exceeds the Protection <br> Level) at the end of the Indexed Term.<br>●The Dual Rate will limit negative (downside) Index returns. For <br> example, if the Index return is -25% and the Dual Rate is 15%, we <br> will deduct 10% at the end of the Indexed Term.<br>●Each Index is a "price return Index", not a "total return Index", and <br> does not, therefore, reflect dividends paid on the underlying <br> securities. This will cause the Index to underperform a direct <br> investment in the securities composing the Index.<br>**●These factors may result in you earning less than the Index** <br> **return.**<br>| &nbsp;&nbsp; **●Principal Risks of** <br> **Investing in the** <br> **Contract** <br>|

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| **RISKS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|

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| **What are the Risks Related** <br> **to the Insurance Company?**<br>| &nbsp;&nbsp; ●An investment in the Contract is subject to the risks related to <br> Lincoln New York. Any obligations, guarantees, or benefits of the <br> Contract are subject to our claims-paying ability. If we experience <br> financial distress, we may not be able to meet our obligations to <br> you. More information about Lincoln New York, including our <br> financial strength ratings, is available upon request by calling 1-877-<br> 737-6872 or visiting www.LincolnFinancial.com.<br>●Each Index's returns do not include any dividends or other <br> distributions declared by the companies included in the Index and <br> will cause the Index to underperform a direct investment in the <br> companies included in the Index.<br>| &nbsp;&nbsp; **●Principal Risks of** <br> **Investing in the** <br> **Contract**<br>|

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|  | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There Restrictions** <br> **on the Investment Options?**<br>&nbsp;&nbsp; **Yes:**<br> ●You cannot reallocate from an Indexed Account to another Indexed <br> Account except on an Indexed Anniversary. If you reallocate from an <br> Indexed Account on an Indexed Anniversary that is not the End Date <br> of the Indexed Term, any such reallocation will be based on the <br> Interim Value of the Indexed Account (or the value locked-in <br> through previous exercise of *Secure Lock*+<sup>®</sup>).<br>●All Indexed Segments must begin on the Indexed Anniversary Date. <br> All future Indexed Terms must begin on the same Indexed <br> Anniversary Date. This means that after the initial Indexed Segment <br> is created you can only make reallocations of Contract Value to the <br> Indexed Accounts one time a year. If you have more than one 6-Year <br> Term Indexed Segment in effect at any time, Indexed Terms of the <br> same Indexed Term length must have the same Start Date.<br>●We determine and provide the available Indexed Accounts and <br> applicable rates for the Crediting Methods of each Indexed Segment <br> at least 5 business days in advance of the Indexed Anniversary Date. <br> We may not offer new Indexed Segments for the Indexed Accounts <br> or we may change the features of an Indexed Account from one <br> Indexed Term to the next, including the Index and current limits on <br> Index gains and losses (subject to any minimum guarantees). <br> Therefore, an Indexed Account may not be available for you to <br> reallocate your Contract Value on an Indexed Anniversary Date.<br>●We have the right to substitute an alternative Index prior to the End <br> Date of an Indexed Term if an Index is discontinued; we are engaged <br> in a contractual dispute with the Index provider; we determine that <br> our use of an Index should be discontinued because, for example, <br> changes to the Index make it impractical or expensive to purchase <br> securities or derivatives to hedge the Index; there is a substantial <br> change in the calculation of an Index, resulting in significantly <br> different values and performance; or for a legal reason we cannot <br> offer the Index. If we substitute an Index for an existing Indexed <br> Segment, we will not change the Crediting Method or Protection <br> Method for the Indexed Term. We will attempt to choose a new <br> Index that has a similar investment objective and risk profile to the <br> existing Index.<br>●The availability of Indexed Accounts may vary depending on the <br> broker-dealer through which the Contract is sold.<br>| &nbsp;&nbsp; **●Indexed Accounts**<br> **●Appendix A –** <br> **Investment Options** <br> **Available Under The** <br> **Contract**<br>**●Appendix C - Broker-**<br> **Dealer Material** <br> **Variations** <br>|

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|  | **RESTRICTIONS** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There any Restrictions** <br> **on Contract Benefits?**<br>| &nbsp;&nbsp; **Yes:**<br> ●Withdrawals will reduce the Death Benefit.<br> ●The Contract will terminate when any Death Benefit is paid due to <br> the death of the Annuitant.<br>●Benefits availability may vary by selling broker-dealer. All variations, <br> if material, will be disclosed in the prospectus.<br>●If you elect to pay third-party advisory fees out of your Contract <br> Value, this deduction may reduce the Death Benefit(s) and other <br> guaranteed benefits, and may be subject to federal and state income <br> taxes and a 10% federal penalty tax.<br>| &nbsp;&nbsp; **●The Contracts**<br> **●Appendix C - Broker-**<br> **Dealer Material** <br> **Variations**<br>|
|  | **TAXES** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **What are the Contract's** <br> **Tax Implications?**<br>| &nbsp;&nbsp; ●Consult with a tax professional to determine the tax implications of <br> an investment in and payments received under this Contract.<br>●If you purchase the Contract through a tax-qualified plan or IRA, you <br> do not get any additional tax benefit under the Contract.<br>●Earnings on your Contract may be taxed at ordinary income tax <br> rates when you withdraw them, and you may have to pay a penalty <br> if you take a withdrawal before age 59½.<br>| **●Federal Tax Matters** |
|  | **CONFLICTS OF INTEREST** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **How are Investment** <br> **Professionals Compensated?**<br>| &nbsp;&nbsp; ●Your financial professional may receive compensation for selling <br> this Contract to you, both in the form of commissions and because <br> we may share the revenue it earns with the professional's firm. <br> (Your investment professional may be your broker-dealer, <br> investment adviser, insurance agent, or someone else.)<br>●This potential conflict of interest may influence your investment <br> professional to recommend this Contract over another investment.<br>| &nbsp;&nbsp; **●Distribution of the** <br> **Contracts**<br>|
| **Should I Exchange My** <br> **Contract?**<br>| &nbsp;&nbsp; ●If you already own a contract, some investment professionals may <br> have a financial incentive to offer you a new contract in place of the <br> one you currently own. You should only exchange your existing <br> contract if you determine, after comparing the features, fees, and <br> risks of both contracts, that it is better for you to purchase the new <br> contract rather than continue to own your existing contract.<br>| &nbsp;&nbsp; **●The Contracts -** <br> **Replacement of** <br> **Existing Insurance**<br>|

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**Fee Tables**

**The following tables describe the fees, expenses, and adjustments that you will pay when buying, owning, and surrendering or making withdrawals from an Indexed Account. 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. If such charges were reflected, the ongoing fees and expenses would be higher.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender or make withdrawals from an Indexed Account. State premium taxes may also be deducted. Currently there is no premium tax levied for New York residents.** 

**TRANSACTION EXPENSES**

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There are no sales charges, deferred sales charges, or surrender charges associated with this Contract.<br>

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**The next table describes the adjustments, in addition to any transaction expenses, that apply if all or a portion of the Contract Value is removed from an Indexed Account or from the Contract before the expiration of a specified period.** 

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**ADJUSTMENTS**

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|:---|:---|
| **Contract Adjustment (Interim Value) Maximum Potential Loss** (as a percentage of Contract Value at the start of an <br> Indexed Term)<br>| 100% |

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If you make any withdrawals (including advisory fees), surrender or terminate your Contract, reallocate Contract Value from an Indexed Segment, annuitize your Contract or upon payment of a Death Benefit from an Indexed Segment on any date prior to the Segment End Date, your Contract Value in the Indexed Segment will be its Interim Value. The Interim Value calculation is designed to represent the fair value of the Indexed Segment on each business day, taking into account the potential gain or loss of the applicable Index at the end of the Indexed Term, including the impacts of the Crediting Method or Protection Method you have chosen. The calculation is also designed to reflect the change in fair value due to economic factors, including, but not limited to, the impact of market rates, volatility, and correlation (if applicable) of the investment instruments supporting the Contract. The Interim Value is based on this calculation and not the actual value of any underlying investments or the current value of any Index. The maximum loss would occur if there is a total distribution for an Indexed Segment at a

time when the Index Value has declined to zero or close to zero.

**Principal Risks of Investing in the Contract** 

This section describes potential risks associated with the Contract.

***Market Risk.*** There is a risk of loss of your investment in the Indexed Segments since the performance tracks a market Index. You are responsible for all losses in excess of the Protection Method you choose. **Under extreme circumstances, at the end of an Indexed Term, you could lose up to 90% of your investment in an Indexed Account with a 10% Protection Level or 10% Dual Rate, up to 85% of your investment in an Indexed Account with a 15% Protection Level or 15% Dual Rate, up to 80% of your investment in an Indexed Account with a 20% Protection Level, and up to 75% of your investment in an Indexed Account with a 25% Protection Level. We do not guarantee that the Contract will always offer Indexed Accounts that will limit Index losses, which would mean risk of loss of the entire amount invested.** 

The Protection Method applies for the full term of the Indexed Segment including Segments with Annual Locks. Each time you move into a new Indexed Segment, you may have a new Protection Level or Dual Rate and are subject to the same risk of loss as described above. There is also a risk of loss upon an early withdrawal. For Annual Lock accounts, since the gain or loss is established each year, losses can accumulate so that you could actually lose more than the amount in excess of the Protection Level percent. Losses you incur in one year will reduce the amount invested for the next year. In a continuing down market over the Indexed Term, however, your loss could exceed the Protection Level. For example, if you chose a 10% Protection Level and if loss occurred during each Annual Lock period for the remainder of the term, you could lose more than 90% of your principal in an Annual Lock account.

***Early Withdrawal Risk.*** This Contract is not designed for short-term investing and is not appropriate for an investor who needs ready access to cash. The benefits of tax deferral and long-term income also mean that the Contract is more beneficial to investors with a long-term horizon. You should carefully consider the risks associated with taking a withdrawal or surrendering the Contract. The proceeds of your withdrawal or surrender may be subject to ordinary income taxes, including a tax penalty if you are younger than age 59½. Participation in an Automatic Withdrawal Service will repeatedly expose you to these risks.

If you withdraw Contract Value from an Indexed Account prior to the End Date of an Indexed Term it will be based on the Interim Value of the Indexed Account. Withdrawals include the deduction of advisory fees paid from your Contract Value. **Under extreme conditions, a negative Contract Adjustment based on Interim Values could result in a loss of up to 100% of your Contract Value in an Indexed Segment.** Additionally, the withdrawal will cause an immediate reduction to your Indexed Crediting Base in a proportion equal to the reduction in your Interim Value. A proportional reduction could be larger than the dollar amount of your withdrawal. Reductions to your Indexed Crediting Base will negatively impact your Interim Value for the remainder of the Indexed Term and will result in a lower Indexed Segment Ending Value at the end of the Indexed Term unless *Secure Lock*+<sup>®</sup> is exercised. Once your Indexed Crediting Base is reduced due to a withdrawal during any Indexed Term, you cannot increase it during the remainder of the Indexed Term. Contract Value must remain in an Indexed Segment until the end of the Indexed Term to be credited with all or partial interest unless *Secure Lock*+<sup>®</sup> is exercised.

To determine the Interim Value, we apply a formula which is not the actual performance of the applicable Index, but rather a determination of the value of hypothetical underlying investments at the time of the Interim Value calculation. This amount could be less than if you had held the Indexed Segment for the full Indexed Term. It also means that you could have a negative performance, even if the value of the Index has increased during the calculation period. All withdrawals (including surrender or termination of your Contract), reallocation of Contract Value from an Indexed Segment, annuitization of your Contract or payment of a Death Benefit from an Indexed Segment on any date prior to the Segment End Date will be based on the Interim Value.

***Deduction of Advisory Fee Risk.*** This deduction of advisory fees from Contract Value will reduce the Death Benefit and other guaranteed benefits, and may be subject to a negative Contract Adjustment, federal and state income taxes, and a 10% federal penalty tax.

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***Indexed Account Risk.*** Each available Index will expose you to risks associated with equity markets. Equity markets are subject to the risk that the value of the securities may fall due to general market and economic conditions. Market volatility may exist with the Indices, which means that the value of the Indices can change dramatically over a short period of time in either direction. The Indices used are "price return Indices", not "total return Indices", meaning that each Index's returns do not include any dividends or other distributions declared by the companies included in the Index and will cause the Index to underperform a direct investment in the companies included in the Index.

We may change the Index on a particular Indexed Account if the Index is discontinued or if we feel the Index is no longer appropriate. This change may occur in the middle of an Indexed Segment and this change may impact how your Indexed Segment performance and Interim Value are calculated. See the Discontinuance or Substitution of an Index section later in the prospectus for more information.

If we do not receive investment instructions from you by the end of an Indexed Term, we will invest your Segment Ending Value in a new Indexed Segment with the same Crediting Method, Indexed Term, Index, Protection Level, or Dual Rate, as applicable, if available. The Crediting Method for the new Indexed Segment could be less advantageous than the current Indexed Segment because the rate may be different. If the same type of Indexed Segment is not available your Segment Ending Value will be moved to the 1-Year S&P 500<sup>®</sup> Price Return Index with Performance Cap, 10% Protection Level. If your Contract Value has been invested in a new Segment and you wish to withdraw your investment, the Contract Value for that Segment will equal the Interim Value.

Investors in an Indexed Account have no rights in the linked Index. You will not have voting rights or rights to receive cash dividends or other rights that shareholders who invest in mutual funds based on these Indices would have.

Additional risks for specific Indices are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● S&P 500® Price Return Index: This Index is comprised of equity securities issued by large-capitalization U.S. companies. In general large-capitalization companies may be unable to respond quickly to new competitive challenges and may not be able to attain the high growth rate of smaller companies, especially during periods of economic expansion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Russell 2000® Price Return Index: Compared to mid-and large-capitalization companies, small-capitalization companies may be less stable and more susceptible to adverse developments, and their securities may be more volatile and less liquid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Capital Strength Net Fee IndexSM: This Index has fewer stocks than broad based indices; therefore, the risk is spread between fewer equity securities. This Index may not track other large cap indices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● First Trust American Leadership IndexTM: In general, large-capitalization companies may be unable to respond quickly to new competitive challenges and may not be able to attain the high growth rate of smaller companies, especially during periods of economic expansion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Nasdaq-100 Index®: This large-cap growth index is comprised of 100 of the largest domestic and international nonfinancial companies listed on the NASDAQ Stock Market based on market capitalization. This index is comprised of industries such as technology, consumer services, and health care. In general, large-capitalization companies may be unable to respond quickly to new competitive challenges and may not be able to attain the high growth rate of smaller companies, especially during periods of economic expansion.

***Risks Associated with Crediting Methods and Protection Methods.*** The available Indexed Accounts with applicable Crediting Methods and Protection Methods will vary over time. Before investing in a new Indexed Segment, you should determine exactly what Indexed Accounts, Protection Methods, and Crediting Methods are available to you. There is no guarantee that more than one Indexed Account will be available in the future. You risk the possibility that you would find declared caps and rates unacceptable (i.e. could be lower than what were available at the time your Contract was issued), so you should make sure the Segment(s) you select is appropriate for your investment goals.

● The Protection Method that is applicable to an Indexed Account only provides you with limited protection from negative Index performance at the end of an Indexed Term, or, in the case of Indexed Account with an Annual Lock, each Contract Year during the Indexed Segment. You could lose a significant amount of your Purchase Payment and/or prior earnings under the Contract despite these limits on negative Index returns. You also bear the risk that continued negative Index returns may result in zero or a negative Performance Rate being credited to your Contract Value over multiple strategy periods. Given that the Protection Method applies to a single Indexed Term, if an Indexed Account is credited with a negative Performance Rate for multiple Indexed Terms, the cumulative loss may exceed any single Indexed Term's stated Protection Method. Similarly, if you select an Indexed Account with an Annual Lock, the Protection Level will apply each Contract Year during an Indexed Term, so if the Index has negative performance for multiple Contract Years during the Indexed Term, the cumulative loss reflected in the Performance Rate at the end of the Indexed Term may exceed any single Contract Year's stated Protection Level. The Protection Method does not apply to your Interim Value, so in order to receive the full protection you must hold your investment until the end of the Indexed Term.

● Gains in your Indexed Segments are limited by any applicable Performance Cap, which means that your return could be lower than if you had invested directly in a fund based on the applicable Index. The Performance Cap exists for the full term of the Indexed Segment unless Secure Lock+® is exercised. Generally, Indexed Segments with greater Protection Levels have lower Performance Caps. Performance Caps for new Segments will be declared at least 5 business days in advance of the beginning of

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a Segment. Subsequent Performance Caps may differ from the Performance Cap used for new Contracts or for other Contracts issued at different times.

● Gains in your Indexed Segments are limited by any applicable Performance Trigger Rate. If the performance of the Index is zero or positive, a specified rate is used to determine the Segment Ending Value. The Performance Trigger Rate may be lower than the actual performance of the Index, which means that your return may be lower than if you had invested directly in a fund based on the applicable Index. The Performance Trigger Rate applies for the full term on the Indexed Segment unless Secure Lock+® is exercised. Generally, Indexed Segments with greater Protection Levels have lower Performance Trigger Rates. Performance Trigger Rates for new Segments will be declared at least 5 business days in advance of the beginning of a Segment. Subsequent Performance Trigger Rates may differ from the Performance Trigger Rate used for new Contracts or for other Contracts issued at different times.

● Gains in your Indexed Segment are limited by any applicable Dual Performance Trigger Rate. The Dual Performance Trigger Rate is used in determining the Segment Ending Value. The Dual Performance Trigger Rate may be lower than the actual performance of the Index, which means that your return could be lower than if you had invested directly in a fund based on the applicable Index. The Dual Performance Trigger Rate applies for the full term of the Indexed Segment unless Secure Lock+® is exercised. Dual Performance Trigger Rates for new Segments will be declared at least 5 business days in advance of the beginning of a Segment. Subsequent Dual Performance Trigger Rates may differ from the Dual Performance Trigger Rate used for new Contracts or for the other Contracts issued at different times.

● Gains in your Dual Plus Indexed Segment are limited by any applicable Performance Cap, which means that your return could be lower than if you had invested directly in a fund based on the applicable Index. The Performance Cap exists for the full term of the Indexed Segment. Performance Caps for new Segments will be declared at least 5 business days in advance of the beginning of a Segment. Subsequent Performance Caps may differ from the Performance Cap used for new Contracts or other Contracts issued at different times.

● For Indexed Accounts without an Annual Lock, the indexed performance credited to or deducted from your Indexed Segment is determined on the last day of the Indexed Term. It is not affected by the price of the Index on any date in between the effective date of the Indexed Account and the End Date of the Indexed Term. Annual Lock accounts are not affected by Index prices between the Annual Lock anniversaries.

***Risks Associated with Secure Lock+***<sup>®</sup> 

You should carefully consider whether and when to elect a *Secure Lock*+<sup>®</sup> of your Interim Value. A lock-in may only be requested once per Contract Year per Indexed Segment and is irrevocable. Your locked-in value could be less than if you chose not to lock- in. If you request a lock-in when the Interim Value is below the Indexed Crediting Base, Protection Levels do not apply, and you assume all loss. If you have elected to lock-in and the Interim Value supporting the Index Segment would have otherwise increased since the lock-in, you will not be able to take advantage of the increase. Additionally, you assume the risk that your Reset Rate may not be known when you request a lock-in and the Reset Rate may be lower, significantly lower than the rate prior to the lock-in. *Secure Lock*+<sup>®</sup> is not available with all Indexed Accounts. Refer to the "*Secure Lock*+<sup>®</sup>" section for additional details and examples.

***Insurance Company Risk***

● An investment in the Contract is subject to the risks related to us, Lincoln New York. Any obligations, 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.

● Your receipt of funds invested in the Indexed Segments is based on the claims paying ability of Lincoln New York. You have no ownership rights in the underlying securities. The assets backing the Indexed Accounts are not segregated from other business of Lincoln New York.

***Contract Changes Risk***

● We reserve the right, within the law, to make certain changes to the structure and operation of the Indexed Accounts at our discretion and without your consent. We may add to or delete Indexed Accounts currently available. We do not guarantee that more than one Indexed Account option will always be available.

● You should carefully consider the risks associated with taking a withdrawal or surrender under the Contract. The proceeds of your withdrawal or surrender may be subject to ordinary income taxes, including a tax penalty if you are younger than age 59½. Participation in an Automatic Withdrawal Service will repeatedly expose you to these risks.

● You should carefully consider whether and when to elect a Secure Lock+® of your Interim Value. A lock-in may only be requested once per Contract Year per Indexed Segment and is irrevocable. Your locked-in value could be less than if you chose not to lock-in. If you request a lock-in when the Interim Value is below the Indexed Crediting Base, Protection Levels do not apply and you assume all loss. If you have elected to lock-in and the Interim Value supporting the Index Segment would have otherwise increased since the lock-in, you will not be able to take advantage of the increase that Contract Year. Additionally, you assume the risk that your Reset Rate may not be known when you request a lock-in and the Reset Rate may be lower, significantly lower than the rate prior to the lock-in. Secure Lock+® is not available with all Indexed Accounts. Refer to the "Secure Lock+®" section for additional details and examples.

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***Cybersecurity and Business Interruption Risks.*** We rely heavily on our computer systems and those of our business partners and service providers to conduct our business. As such, our business is vulnerable to cybersecurity risks and business interruption risks. These risks include, among other things, the theft, loss, misuse, corruption and destruction of data; interference with or denial of service; attacks on websites or systems; operational disruptions; and unauthorized release of confidential customer or business information. Cybersecurity risks affecting us, any third-party administrators, underlying funds, index providers, intermediaries, and service providers may adversely affect us and/or your Contract. For instance, systems failures and cyberattacks may interfere with our processing of Contract transactions, including order processing; impact our ability to calculate Contract values; cause the release and possible destruction of confidential customer or business information; and/or subject us to regulatory fines, litigation, financial losses or reputational damage. Cybersecurity risks may also impact the issuers of securities in which the underlying funds invest (or the securities that compose an Index), which may cause your Contract to lose value. There can be no assurance that systems disruptions, cyberattacks and information security breaches will always be detected, prevented, or avoided in the future.

In addition to cybersecurity risks, we are exposed to risks related to natural and man-made disasters, such as (but not limited to) storms, fires, floods, earthquakes, public health crises, malicious acts, and terrorist acts. Any such disasters could interfere with our business and our ability to administer the Contract. For example, they could lead to delays in our processing of Contract transactions, including orders from Contractowners, or could negatively impact our ability to calculate Contract values. They may also impact the issuers of securities in which the underlying funds invest (or the securities that compose an Index), which may cause your Contract to lose value. There can be no assurance that negative impacts associated with natural and man-made disasters will always be avoided.

***Purchase Payment Risk.* We do not accept additional Purchase Payments after the Contract has been issued to you.** Accordingly, you will be unable to increase your Contract Value or Death Benefit by making subsequent Purchase Payments. You should carefully consider the amount of your Purchase Payment when purchasing the Contract and whether to take a withdrawal under the Contract. The reduction of Contract Value as a result of a withdrawal may not be offset by gains as a result of positive performance of your investment selections.

You must obtain our approval for a Purchase Payment totaling $1 million or more. This amount takes into consideration the total Purchase Payments for all existing *Lincoln Level Advantage*<sup>®</sup>, *Lincoln Level Advantage* 2<sup>®</sup> and *Lincoln Level Advantage 2 Income*<sup>SM</sup> contracts for the same owner, joint owner, or Annuitant. At the Company's discretion, this amount may consider total Purchase Payments for all annuity contracts issued by the Company (or its affiliates) for the same Contractowner, joint owner, and/or Annuitant.

**Indexed Accounts** 

The Contract offers several Indexed Accounts. We will credit positive, negative or zero interest at the end of an Indexed Term based, in part, on the performance of an Index. This rate of return is the Performance Rate. An Indexed Account is defined by the Index tracked, the length of the Indexed Term, the Crediting Method and the Protection Level or Dual Rate, as applicable, it provides, and whether or not it includes an Annual Lock. An investment in an Indexed Account is not an investment in the Index or in any Index fund.

You could lose a significant portion of your investment in an Indexed Segment if the Index declines in value. You are responsible for all losses in excess of the Protection Level or Dual Rate you choose. There is also a risk of loss upon an early withdrawal. If you withdraw Contract Value prior to the End Date of an Indexed Term, the withdrawal will be based on Interim Value and will cause an immediate reduction in your Indexed Crediting Base in a proportion equal to the reduction in your Interim Value. A proportional reduction could be larger than the dollar amount of your withdrawal. You could lose a significant portion of your investment in an Indexed Segment if amounts are removed from the Indexed Segment prior to the end of the Indexed Term.

You may allocate all or a portion of your Purchase Payment into one or more Indexed Accounts. The minimum allocation to an Indexed Account is $2,000; there is no maximum allocation limit. A new Indexed Segment is established upon an allocation to an Indexed Account. Each Indexed Segment may have its own:

● Start Date

● Crediting Base

● Performance Rate

● Performance Cap

● Performance Trigger Rate

● Dual Performance Trigger Rate

● Dual Rate

● Contract Value

● End Date

Information regarding each Indexed Account, including 1) its name, 2) its type, 3) its Indexed Term, 4) its Crediting Method, 5) its Protection Method, and 6) its minimum limit on Index gain, is available in Appendix A – Investment Options Available Under The Contract.

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**Indices.** Each Indexed Account references a market index that determines the performance of its associated Indexed Segments. A market index is not a fund; it is unmanaged and is not available for direct investment. We currently offer Indexed Accounts based on the performance of the following securities indices:

**S&P 500**<sup>®</sup> **Price Return Index (SPX).** The S&P 500<sup>®</sup> Index is comprised of 500 stocks considered representative of the overall market.

**Russell 2000**<sup>®</sup> **Price Return Index (RTY).** The Russell 2000<sup>®</sup> Index measures the performance of the 2,000 smallest companies in the Russell 2000<sup>®</sup> Index. It is considered representative of small capitalization stocks. The prices of small company stocks generally are more volatile than those of large company stocks.

**Capital Strength Net Fee Index**<sup>SM</sup> **(NQCAPSTNF).** The Index is comprised of 50 stocks selected based on cash on hand, debt ratios and volatility. The Capital Strength Price Return Index<sup>SM</sup> will be reduced by 0.65% to result in the Capital Strength Net Fee Index<sup>SM</sup>.

**First Trust American Leadership Index**<sup>TM</sup> **(FTUSLDRS).** The First Trust American Leadership Index<sup>TM</sup> provides exposure to a selection of U.S. stocks, including companies with a history of paying and raising dividends and others more growth-oriented, representing the largest and most actively traded U.S. stocks in the internet industry. Specifically, the First Trust American Leadership Index provides exposure to U.S. companies driving growth and profitability through internet products and services. The level of the First Trust American Leadership Index<sup>TM</sup> incorporates an embedded 0.65% annual fee. The fee is not related to the annuity.

**S&P 500**<sup>®</sup> **Price Return Index (SPX).** The S&P 500<sup>®</sup> Index is comprised of 500 stocks considered representative of the overall market.

The Indices used are "price return Indices," not "total return Indices," meaning that each Index's returns do not include any dividends or other distributions declared by the companies included in the Index and will cause the Index to underperform a direct investment in the companies included in the Index. The Indices do not represent a direct investment in the Index. If an Index is discontinued or substantially changes (for example if an Index sponsor announces that it will make a material change in the formula for or the method of calculating the Index or in any other way materially modifies the Index), we reserve the right to select an alternative Index and we will notify the Contractowner of such changes. In selecting an alternative Index we will attempt to approximate the performance of the original investment in a commercially reasonable manner in light of relevant market circumstances at the time. Any substitution is subject to approval by the state insurance authorities where the Contract and rider were issued, if required by law. A change to the Index in the middle of a Segment may impact the calculation of the Performance Rate for the Segments. When we notify you of a change to the Index, we will also state how the change will impact your Performance Rate. Investments in new Segments are available on an Indexed Anniversary Date.

The bar charts shown below provide each Index's annual returns for the last 10 calendar years (or for the life of the Index if less than 10 years), as well as the Index returns after applying a hypothetical 5% Performance Cap and a hypothetical 10% Protection Level. The charts illustrate the variability of the returns from year to year and show how hypothetical limits on Index gains and losses may affect these returns. Past performance is not necessarily an indication of future performance.

**The performance below is NOT the performance of *any* specific Indexed Account. Your performance under the Contract will differ, perhaps significantly. The performance below may reflect a different return calculation, time period, and limit on Index gains and losses than the Indexed Account.** This performance does not reflect any Contract Adjustment based on Interim Value or any Contract fees and charges, which may reduce performance.

![](spindex_4.jpg)

The S&P 500<sup>®</sup> Price Return Index is a "price return Index," not a "total return Index," and therefore does not reflect the dividends paid on securities composing the Index, which will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

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![](russellindex_4.jpg)

The Russell 2000<sup>®</sup> Price Return Index is a "price return Index," not a "total return Index," and therefore does not reflect the dividends paid on securities composing the Index, which will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

![](capstrengthindex_4.jpg)

The Capital Strength Net Fee Index<sup>SM</sup> is a "price return Index," not a "total return Index," and therefore does not reflect the dividends paid on securities composing the Index, which will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

The Index provider deducts fees and costs when calculating the Index return, which will reduce the Index return and will cause the Index to underperform a direct investment in the securities composing the Index.

![](firsttrustindex_4.jpg)

The First Trust American Leadership Index<sup>TM</sup> is a "price return Index," not a "total return Index," and therefore does not reflect the dividends paid on securities composing the Index, which will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

The Index provider deducts fees and costs when calculating the Index return, which will reduce the Index return and will cause the Index to underperform a direct investment in the securities composing the Index.

![](nasdaqindex_5.jpg)

The Nasdaq-100<sup>®</sup> Price Return Index is a "price return Index," not a "total return Index," and therefore does not reflect the dividends paid on securities composing the Index, which will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

**Indexed Term.** The Indexed Term is the specified period of time over which an Index's performance is measured, subject to applicable limits on Index gains and losses, to determine the amount of positive, negative or zero interest that will be credited to an Indexed Account at the end of the period. 1-Year and 6-Year Indexed Terms are available in this Contract. An Indexed Segment begins on the day your money is allocated to an Indexed Segment, called the Start Date. The yearly anniversary of the Start Date of the initial Indexed Segment is the Indexed Anniversary Date of your Contract. This is the Indexed Anniversary Date for the life of your Contract.

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You may choose to allocate your Purchase Payment to different Indexed Accounts, but all Indexed Segments must begin on the Indexed Anniversary Date. All future Indexed Terms must begin on the same Indexed Anniversary Date. This means you can only allocate to Indexed Accounts one time a year. For example, you may start a 6-Year Indexed Segment, and two years later, you can start a 1-Year Indexed Segment, as long as the 1-Year Indexed Segment begins on the Indexed Anniversary Date for your Contract. If you have more than one 6-Year Indexed Segment in effect at any time, Indexed Terms of the same term length must have the same Start Date.

**Your Contract Value must remain in an Indexed Account until the end of the Indexed Term to be credited with all or partial interest and to avoid a possible Contract Adjustment based on Interim Value, in addition to potential tax consequences.** If you make any withdrawals (including surrender or termination of your Contract), reallocate Contract Value from an Indexed Segment, annuitize your Contract or upon payment of a Death Benefit from an Indexed Segment on any date prior to the Segment End Date, your Contract Value in the Indexed Segment will be its Interim Value. For more information, see "Interim Value" later in this section. Lincoln reserves the right to make additional Indexed Account options available or to withdraw currently available Indexed Account options and change the features of an Indexed Account from one Indexed Term to the next, including the Index and the current limits on Index gains and losses, in the future.

**Indexed Contract Value.** For each Indexed Segment the daily value is determined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. On the Start Date of the Indexed Segment, the value of the Indexed Segment equals the initial Indexed Crediting Base. The initial Indexed Crediting Base is the amount of Purchase Payment or Contract Value allocated to the Indexed Segment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. On each Valuation Date during the Indexed Term, the value of the Indexed Segment equals the Interim Value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. On the last date of the Indexed Term, called the End Date, the value of the Indexed Segment equals the Segment Ending Value.

**Crediting Methods and Protection Methods.** Different Crediting Methods and Protection Methods are available for your Indexed Account. Interest is credited for any performance earned or deducted for any loss only on the End Date of a Segment. The Crediting Method you select will limit positive (upside) Index returns credited on the End Date of a Segment and the Protection Method will limit the negative Index returns deducted on the End Date of a Segment. If the End Date is not a Valuation Date, then the amount will be credited or deducted on the next business day. **We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%.**

**Indexed Segments with Performance Caps, No Annual Locks.** The Performance Cap is the maximum Performance Rate that can be credited to the Indexed Segment for an Indexed Term for which it is declared. For example, if the Index return is 12% and the Performance Cap is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%. The Performance Cap may vary depending on the Index, the Indexed Term length, and the Protection Level. Typically, Indexed Segments with greater Protection Levels have lower Performance Caps.

The initial Performance Cap applies to the initial Indexed Term. The Company will declare, at its discretion, a Performance Cap for each subsequent Indexed Term. Subsequent Performance Caps may differ from the Performance Cap used for new Contracts or for other Contracts issued at different times. If no Performance Cap is declared for an Indexed Term, there is no maximum Performance Rate for that Indexed Term. **In no event will a Performance Cap be lower than what is shown in Appendix A – Investment Options Available Under The Contract.** Information about current Performance Caps can be found at www.lfg.com/llarates and is incorporated into this prospectus by reference.

The Performance Rate is the percentage change in the Index Value from the Start Date to the End Date, adjusted by the Protection Level and subject to the Performance Cap. The Performance Rate can be positive, negative or zero. The percentage change in the Index Value is calculated by subtracting the Index Value on the Start Date from the Index Value on the End Date, and the difference is divided by the Index Value on the Start Date. The daily Index Value is posted on the Index's website. If an Index Value is not published for a particular day, we will use the Index Value at the close of the next Valuation Date the Index Value is published.

If your Indexed Account has a Performance Cap and the percentage change of the Index Value from the Start Date to the End Date is positive and equal to or greater than the Performance Cap, then the Performance Rate equals the Performance Cap. If the percentage change is zero or positive and less than the Performance Cap, the Performance Rate equals the percentage change of the Index Value. If you have a Protection Level and the percentage change in the Index Value is less than zero, then the Performance Rate is the lesser of 1) 0%, or 2) the percentage change in the Index Value plus the Protection Level.

The amount credited to or deducted from the Indexed Segment is equal to the Performance Rate multiplied by the Indexed Crediting Base on the End Date. This will be used to determine the Segment Ending Value. The Indexed Crediting Base is the amount you have

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allocated to the Indexed Segment, less any withdrawals during the Indexed Term deducted proportionately by the amount that the withdrawal reduced the Interim Value (described later in the Interim Value section). Withdrawals include any applicable premium tax or rider fees and charges. The Performance Rate is used to determine the value credited after all adjustments. If the Performance Rate is positive, the value of your Indexed Segment will increase. If the Performance Rate is negative (after calculation including the Protection Level), the value of your Indexed Segment is reduced. If the Performance Rate is zero, the value of your Indexed Segment will not change.

The following examples illustrate how we calculate the Performance Rate assuming hypothetical Index returns and hypothetical limits on Index gains and losses. The examples assume no withdrawals.

![](img817cd50f1.jpg)

The Indexed Crediting Base is used only to calculate the performance of Indexed Accounts on the End Date, and to calculate the Interim Value. This amount is not available for surrender, withdrawal, reallocation, annuitization or as a Death Benefit. If *Secure Lock*+<sup>®</sup> has been elected, see the *Secure Lock*+<sup>®</sup> section below for additional information.

Depending on market conditions, subsequent Performance Caps may be higher or lower than the initial Performance Cap. The Company will determine new Performance Caps on a basis that does not discriminate unfairly within any class of contracts.

**Indexed Segments with Performance Caps with Annual Locks**. For an Indexed Segment with Annual Locks, the Performance Rate will be calculated in the same manner as without Annual Locks (see discussion above), except it will be calculated on each Index Anniversary Date. The performance will NOT be credited to or deducted from the Indexed Segment, however, until the End Date of the Indexed Term (at the end of the 6<sup>th</sup> year). The amount of the performance credited or deducted from the Indexed Segment on the End Date equals the sum of the annual performance amounts on each Indexed Anniversary Date, adjusted for any withdrawals, transfers, or annuitization. On the first Indexed Anniversary Date, the performance equals the Performance Rate change multiplied by the Indexed Crediting Base. This performance amount is added to or deducted from the Indexed Crediting Base. This adjusted Indexed Crediting Base becomes the Indexed Crediting Base for the next one-year period. On each Indexed Anniversary Date thereafter, the return for the year is credited to or deducted from the Indexed Crediting Base and the adjusted Indexed Crediting Base carries over to the next one-year period. As a result, a loss you incur in one year will reduce the amount invested for the next year. In a continuing down market, you could lose in excess of the applicable Protection Level. For example, if the Protection Level is 10%, in a continuing down market, you could lose more than 90% of your investment. On the other hand, a gain you incur in one year will increase the Indexed Crediting Base for the next year, upon which future gains (if any) will be calculated. The Segment Ending Value will equal the value of the Indexed Crediting Base on the End Date (after the adjustment for performance on the last Indexed Anniversary Date).

The Indexed Crediting Base is used only to calculate the performance of Indexed Segments on the Indexed Anniversary Date and to calculate the Interim Value. This amount is not available for surrender, withdrawal, transfer, annuitization or as a Death Benefit. In addition to the Indexed Crediting Base adjustment for performance, withdrawals and transfers reduce the Indexed Crediting Base in the same proportion that withdrawals and transfers reduce the Interim Value.

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The initial Performance Cap applies to the initial Indexed Term. The Company will declare, at its discretion, a Performance Cap for each subsequent Indexed Term. Subsequent Performance Caps may differ from the Performance Cap used for new Contracts or for other Contracts issued at different times. If no Performance Cap is declared for an Indexed Term, there is no maximum Performance Rate for that Indexed Term. **In no event will a Performance Cap be lower than what is shown in Appendix A – Investment Options Available Under The Contract.** Information about current Performance Caps can be found at www.lfg.com/llarates and is incorporated in this prospectus by reference.

The following examples illustrate how we calculate the Performance Rate assuming hypothetical Index returns and hypothetical limits

on Index gains and losses. The examples assume no withdrawals.

Indexed Term Segment Start Date = 1/8/2026

Indexed Account = 6-Year with Annual Locks with a 10% annual Performance Cap and 10% Protection Level

Allocation to Indexed Segment = $100,000

Indexed Crediting Base at Beginning of Term = $100,000

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| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Indexed**<br> **Segment**<br> **Anniversary**<br>| &nbsp;&nbsp; **Index %**<br> **Change**<br>| &nbsp;&nbsp; **Indexed Segment**<br> **Performance**<br> **Rate (adjusted for**<br> **Cap or Protection**<br> **Level)**<br>| &nbsp;&nbsp; **Indexed Segment**<br> **Performance**<br> **Amount**<br>| &nbsp;&nbsp; **Adjusted Indexed**<br> **Crediting Base/**<br> **Anniversary**<br> **Value**<br>|
| 1/8/2027 | +7% | +7% | $7000 | $107000 |
| 1/8/2028 | +12% | +10% | $10700 | $117700 |
| 1/8/2029 | -13% | -3% | -$3531 | $114169 |
| 1/8/2030 | -5% | 0% | $0 | $114169 |
| 1/8/2031 | +5% | +5% | $5708 | $119877 |
| 1/8/2032 | +17% | +10% | $11988 | $131865 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Note: The Segment Ending Value is $131,865. The $31,865 (the sum of the values on each Index Anniversary) is not credited to your Contract Value until the end of the 6-year Indexed Term. Until the end of the Indexed Term, with an Annual Lock account, the Interim Value calculation applies. The anniversary amounts are not available to you and are used only for calculation purposes as the Indexed Crediting Base for the next year.

Depending on market conditions, Performance Caps on subsequent 6-year Indexed Terms with Annual Locks may be higher or lower than the initial Performance Cap. The Company will determine new Performance Caps on a basis that does not discriminate unfairly within any class of contracts.

**Indexed Segments with Performance Trigger Rate.** The Performance Trigger Rate is a rate of return for an Indexed Segment that we declare at the beginning of the Indexed Term that is used to determine the Segment Ending Value if the Index return for the Indexed Term is zero or positive. For example, if the Index return is 12%, and the Performance Trigger Rate is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%. Alternatively, if the Index return is 1%, and the Performance Trigger Rate is 4%, we will credit 4% interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%.

The Performance Trigger Rate may vary depending on the Index, the Indexed Term length, and the Protection Level you select. Typically, Indexed Segments with greater Protection Levels have lower Performance Trigger Rates. The Performance Trigger Rate will not change during the Indexed Term unless *Secure Lock*+<sup>®</sup> is elected.

The initial Performance Trigger Rate applies to the initial Indexed Term. The Company will declare, at its discretion, a Performance Trigger Rate for each subsequent Indexed Term. Subsequent Performance Trigger Rates may differ from the Performance Trigger Rate used for new Contracts or for other Contracts issued at different times. **In no event will a Performance Trigger Rate be lower than what is shown in Appendix A – Investment Options Available Under The Contract.** Information about current Performance Trigger Rates can be found at www.lfg.com/llarates and is incorporated into this prospectus by reference.

The Performance Rate is the percentage change in the Index Value from the Start Date to the End Date, adjusted by the Protection Level and subject to the Performance Trigger Rate. The Performance Rate can be positive, negative, or zero. The percentage change in the Index Value is calculated by subtracting the Index Value on the Start Date from the Index Value on the End Date, and the difference is divided by the Index Value on the Start Date. If the percentage change of the Index Value is greater than or equal to zero on the End Date, the Performance Rate is equal to the Performance Trigger Rate. The daily Index Value is posted on the Index's website. If an Index Value is not published for a particular day, we will use the Index Value at the close of the next Valuation Date the Index Value is published.

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If you have a Protection Level and the percentage change in the Index Value is less than zero, then the Performance Rate is the lesser of 1) 0%, or 2) the percentage change in the Index Value plus the Protection Level.

The amount credited to or deducted from the Indexed Segment is equal to the Performance Rate multiplied by the Indexed Crediting Base on the End Date. This will be used to determine the Segment Ending Value. The Indexed Crediting Base is the amount you have allocated to the Indexed Segment, less any withdrawals during the Indexed Term deducted proportionately by the amount that the withdrawal reduced the Interim Value. Withdrawals include any applicable premium tax or rider fees and charges. If the Performance Rate is positive, the value of your Indexed Segment will increase. If the Performance Rate is negative (after calculation including the Protection Level), the value of your Indexed Segment is reduced. If the Performance Rate is zero, the value of your Indexed Segment will not change.

The following examples illustrate how we calculate the Performance Rate assuming hypothetical Index returns and hypothetical limits on Index gains and losses. The example assumes no withdrawals.

![](imgfc163c3a2.jpg)

The Indexed Crediting Base is used only to calculate the performance of Indexed Accounts on the End Date, and to calculate the Interim Value. This amount is not available for surrender, withdrawal, reallocation, annuitization or as a Death Benefit.

Depending on market conditions, subsequent Performance Trigger Rates may be higher or lower than the initial Performance Trigger Rate. Subsequent Performance Trigger Rates may differ from the Performance Trigger Rate used for new Contracts or for other Contracts issued at different times. The Company will determine new Performance Trigger Rates on a basis that does not discriminate unfairly within any class of contracts. If *Secure Lock*+<sup>®</sup> has been elected, see the *Secure Lock*+<sup>®</sup> section below for additional information.

**Indexed Segments with Dual Performance Trigger Rate.** The Dual Performance Trigger Rate is a rate of return for an Indexed Segment that we declare at the beginning of the Indexed Term. It is used, in part, to determine the Segment Ending Value.

The Dual Performance Trigger Rate may vary depending on the Index, the Indexed Term, and the Protection Level you select. Typically, Indexed Segments with greater Protection Levels have lower Dual Performance Trigger Rates.

The initial Dual Performance Trigger Rate applies to the initial Indexed Term. The Company will declare, at its discretion, a Dual Performance Trigger Rate for each subsequent Indexed Term, if any. Subsequent Dual Performance Trigger Rates may differ from the Dual Performance Trigger Rate used for new Contracts or for other Contracts issued at different times. **In no event will a Dual Performance Trigger Rate be lower than what is shown in Appendix A – Investment Options Available Under The Contract.** Information about current Dual Performance Trigger Rates can be found at www.lfg.com/llarates and is incorporated into this prospectus by reference.

The Performance Rate is the percentage change in the Index Value from the Start Date to the End Date, adjusted by the Protection Level and the Dual Performance Trigger Rate. The Performance Rate can be positive, negative, or zero. The percentage change in the Index Value is calculated by subtracting the Index Value on the Start Date from the Index Value on the End Date, with the difference

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then divided by the Index Value on the Start Date. The daily Index Value is posted on the Index's website. If an Index Value is not published for a particular day, we will use the Index Value at the close of the next Valuation Date the Index Value is published.

If the percentage change of the Index Value is greater than or equal to zero on the End Date, the Performance Rate is equal to the Dual Performance Trigger Rate. For example, if the Index return is 12%, and the Dual Performance Trigger Rate is 8%, we will credit 8% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 8%. If the percentage change in the Index Value is less than zero but within the Protection Level, the Performance Rate is equal to the Dual Performance Trigger Rate. For example, if the Index return is -5%, the Protection Level is 10% and the Dual Performance Trigger Rate is 8%, we will credit 8% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 8%. If the percentage change in the Index Value is negative and beyond Protection Level, the Performance Rate is the percentage change in the Index Value, plus the Dual Performance Trigger Rate, plus the Protection Level. The Performance Rate could be negative. For example, if the Index return is -20%, the Protection Level is 10% and the Dual Performance Trigger Rate is 8%, we will deduct 2% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will decrease by 2%.

The amount credited to or deducted from the Indexed Segment is equal to the Performance Rate multiplied by the Indexed Crediting Base on the End Date. This will be used to determine the Segment Ending Value. The Indexed Crediting Base is the amount that you have allocated to the Indexed Segment, less any transfers or withdrawals during the Indexed Term deducted proportionately by the amount that the transfers or withdrawals reduced the Interim Value. Withdrawals include any applicable premium tax or rider fees and charges. The Performance Rate is used to determine the value credited after all adjustments. If the Performance Rate is positive, the value of your Indexed Segment will increase. If the Performance Rate is negative (after calculation including the Protection Level), the value of your Indexed Segment will be reduced. If the Performance Rate is zero, the value of your Indexed Segment will not change.

The Indexed Crediting Base is used only to calculate the performance of Indexed Accounts on the End Date and to calculate the Interim Value. This amount is not available for surrender, withdrawal, reallocation, annuitization or as a Death Benefit.

The following examples show the Performance Rates assuming an initial Dual Performance Trigger Rate of 6% and a Protection Level of 10%.

![](dualperformancetrig_4.jpg)

Depending on market conditions, subsequent Dual Performance Trigger Rates may be higher or lower than the initial Dual Performance Trigger Rate. Subsequent Dual Performance Trigger Rates may differ from the Dual Performance Trigger Rate used for new contracts or for other contracts issued at different times. The Company will determine new Dual Performance Trigger Rates on a basis that does not discriminate unfairly within any class of contracts. If *Secure Lock*+<sup>®</sup> has been elected, see the *Secure Lock*+<sup>®</sup> section below for additional information.

**Indexed Segments with Dual Plus.** The Dual Plus Indexed Accounts offer a Dual Rate and Performance Cap for an Indexed Segment that we declare at the beginning of the Indexed Term that are both used in determining the Segment Ending Value. The Performance Cap is the maximum Performance Rate that can be credited to the Indexed Segment for an Indexed Term for which it is declared. For example, if the Index return is 60%, and the Performance Cap is 50%, we will credit 50% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 50%. The Performance Cap may vary depending on the Index and the Indexed Term length. The Performance Cap will not change during the Indexed Term. The Dual Rate will not vary depending on the

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Index or the Indexed Term length and will not change from one Indexed Term to the next. Typically, Indexed Segments with Dual Rates have higher Performance Caps.

The initial Performance Cap applies to the initial Indexed Term. The Company will declare, at its discretion, a Performance Cap for each subsequent Indexed Term. If no Performance Cap is declared for an Indexed Term, there is no maximum Performance Rate for that Indexed Term. **In no event will a Performance Cap be lower than what is shown in Appendix A – Investment Options Available Under The Contract.** Information about current Performance Caps can be found at www.lfg.com/llarates and is incorporated into this prospectus by reference.

The Performance Rate equals (1) the Dual Rate if the percentage change of the Index Value from the Start Date to the End Date for an Indexed Term is zero, or is positive and equal to or less than the Dual Rate; or (2) the percentage change up to the Performance Cap if the percentage change is higher than the Dual Rate; or (3) the Performance Cap if the percentage change is higher than the Performance Cap; or (4) the percentage the Index has decreased plus the Dual Rate, if the Index Value at the end of the Indexed Term is less than the Index Value at the beginning of the Indexed Term. If the Performance Rate is negative, the value of your Indexed Segment is reduced.

The amount credited to or deducted from the Indexed Segment, is equal to the Performance Rate multiplied by the Indexed Crediting Base on the End Date. This will be used to determine the Segment Ending Value as set forth below. The Indexed Crediting Base is the amount that you have allocated to the Indexed Segment, less any transfers or withdrawals during the Indexed Term deducted proportionately by the amount that the transfer or withdrawal reduced the Interim Value. Withdrawals include any applicable premium tax, or rider fees and charges. The Performance Rate is used to determine the value credited after all adjustments.

The Performance Rate is the percentage change in the Index Value from the Start Date to the End Date, adjusted by the Dual Rate and Performance Cap Rate. The percentage change is calculated by subtracting the Index Value as of the beginning of the Indexed Term from the Index Value at the end of the Indexed Term. The difference is then divided by the Index Value as of the beginning of the Indexed Term.

The Segment Ending Value on the End Date is equal to the sum of A plus (A multiplied by B) where:

A = the Indexed Crediting Base on the End Date and

B = the Performance Rate.

The Indexed Crediting Base is used only to calculate the performance of Indexed Accounts on the End Date and to calculate the Interim Value. This amount is not available for surrender, withdrawal, transfer, annuitization or as a Death Benefit.

The following examples illustrate how we calculate and Performance Rate assuming hypothetical Index returns and hypothetical limits on Index gains and losses. The examples assume no withdrawals.

The following examples show the Performance Rates assuming a Dual Rate of 15% and an initial Performance Cap of 75%.

![](dual15_2.jpg)

Depending on market conditions, subsequent Performance Caps may be higher or lower than the initial Performance Cap. Subsequent Performance Caps may differ from the Performance Cap used for new Contracts or for other Contracts issued at different times. The Company will determine new Performance Caps on a basis that does not discriminate unfairly within any class of contracts.

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**Protection Methods**. For Indexed Accounts with a Protection Level, the Protection Level is the portion of any negative Index performance that will not impact your Contract Value if you remain invested until the End Date of the Indexed Segment. For example, if the Index return is -15% and you have a 10% Protection Level, your Contract Value will not be impacted by the first 10% of negative Index performance and we will deduct 5% at the end of the Indexed Term. Your Contract Value will not be impacted up to the amount of the Protection Level you elect, and, after that, you will be impacted for the remaining portion of the loss. This loss will reduce the amount of your investment (principal) in the Indexed Segments. The Contract offers Indexed Accounts with Protection Levels that protect you against losses of 10% to 25%. If you choose an Indexed Account with Performance Cap or Performance Trigger Rate and a 10% Protection Level, your Contract Value will not be impacted by the first 10% of negative Index performance if you stay invested until the End Date of the Segment. Any remaining negative percentage will be absorbed by you. If an Indexed Account with Annual Locks is selected, the Protection Level is the percentage of the Index loss that will not impact your Indexed Crediting Base each year during the Indexed Term.

The Protection Level is not available on Dual Plus Indexed Accounts, but the Dual Rate itself may provide some protection from Index loss, as discussed below.

**The following examples illustrate how we calculate and credit interest assuming hypothetical Index returns and hypothetical lim**

**its on Index gains and losses. The examples assume no withdrawals.** 

For example:

Indexed Term Segment Start Date = 1/8/2026

Indexed Account = 1-Year Indexed Account with a 10% Protection Level

Index Value at beginning of term = 1,569

Indexed Crediting Base = $100,000

Indexed Term Segment End Date = 1/8/2027

Index Value at End Date = 1,333

Index Value percentage change = -15% ((1,333 – 1,569) / 1569)

Indexed Segment Ending Value = $95,000 ($100,000 - $5,000)

Because your Contract Value is not impacted by the first 10% of the loss, you only experience a 5% loss (-15% Index Value per

centage change + 10% Protection Level = 5% loss) or $100,000 \* 5.00% = $5,000.

The following year assuming you chose a new 1-Year Segment with a 10% Protection Level:

(The Indexed Segment Ending Value is used to establish the Indexed Crediting Base for the new Indexed Segment.)

Indexed Term Segment Start Date = 1/8/2027

Indexed Crediting Base = $95,000

Indexed Term Segment End Date = 1/8/2028

Index Value at End Date = 1,298

Index Value percentage change = -3% ((1,298 – 1,333)/1,333)

Indexed Segment Ending Value = $95,000 ($95,000 - $0)

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Because your Contract Value is not impacted by the first 10% of the loss, you experience no loss of Contract Value for this Segment because the Index Value percentage change was less than the 10% Protection Level.

![](imgf98d0d373.jpg)

For the Dual Performance Trigger Indexed Accounts, the Protection Level is used to determine the Performance Rate on the End Date of the Segment when there is negative Index performance. If the percentage change in the Index Value is negative but within the Protection Level, the Performance Rate is equal to the Dual Performance Trigger Rate. However, if the percentage change in the Index Value has decreased by a greater percentage than the Protection Level then the amount of your investment in the Indexed Segment may be reduced. The Performance Rate would equal the percentage change in the Index Value, plus the Dual Performance Trigger Rate, plus the Protection Level. The amount of loss or gain is dependent on the percentage change in the Index Value, the Dual Performance Trigger Rate and the Protection Level on the Indexed Segment.

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The following examples show the Performance Rate(s) based on the percentage change in the Index Value using a 6% Dual Performance Trigger Rate.

![](imge74aed494.jpg)

Dual Plus accounts do not include a Protection Level, but the Dual Rate itself may provide some protection. If Index performance is down, your Performance Rate equals the Index performance plus the Dual Rate which may result in either a negative or positive return. For example, if the Index return is -10% and you have a Dual Rate of 15%, we will credit 5% in interest at the end of the Indexed Term. If the Index return is -20% and you have a Dual Rate of 15%, we will deduct 5% in interest at the end of the Indexed Term.

The following examples show the Performance Rate(s) based on the percentage change in the Index Value and using a Dual Rate of 15%.

![](imgb1b258625.jpg)

**Crediting Method Considerations.** We determine Performance Caps, Performance Trigger Rates and Dual Performance Trigger Rates for each new Indexed Segment at our discretion, subject to the guaranteed minimums. We consider a number of factors when declaring Performance Caps, Performance Trigger Rates and Dual Performance Trigger Rates. Generally, we seek to manage our risk associated with our obligations, in part, by trading call and put options and other derivative instruments on the available Indices. The costs of these instruments impact the rates we declare, and those costs can be impacted by the market conditions and forces. We also consider sales commissions, administrative expenses, regulatory and tax requirements, general economic trends and competitive factors. You bear the risk that we may declare lower Performance Caps, Performance Trigger Rates and Dual Performance Trigger Rates for

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future Indexed Segments, and that such rates could be as low as the guaranteed minimum for that Indexed Account. Rates offered for new Indexed Segments may be different from those offered to new investors or offered to you at Contract issuance.

You should choose a Crediting Method that is consistent with your risk tolerance and investment objectives. Generally, assuming the same Index and Indexed Term length, an Indexed Account that provides less potential for Index gains will tend to have more protection from Index losses. Conversely, assuming the same Index and Indexed Term length, an Indexed Account that provides more potential for Index gains will generally tend to have less protection from Index losses.

● If you choose an Indexed Segment with a Performance Cap, and there is positive Index performance, the Performance Rate we apply on the Indexed Segment End Date could be less than the actual Index performance. If the actual Index performance is greater than the Performance Cap, your Performance Rate will be lower, possibly significantly lower, than the actual Index return.

● If you choose an Indexed Segment with a Performance Trigger Rate, and there is positive Index performance, the Performance Rate on the Indexed Segment End Date, could be lower, possibly significantly lower, than the actual Index return.

● If you choose an Indexed Segment with an Annual Lock, and there is positive Index performance, the Performance Rate on the Indexed Segment End Date could be lower, possibly significantly lower, than the actual Index return.

● If you choose an Indexed Segment with a Dual Performance Trigger Rate, and there is positive Index performance, the Performance Rate on the Indexed Segment End Date could be lower, possibly significantly lower, than the actual Index return.

● If you choose an Indexed Segment with a Dual Rate and Performance Cap, and there is positive Index performance, the Performance Rate we apply on the Indexed Segment End Date could be less than the actual Index performance. If the actual Index performance is greater than the Performance Cap, your Performance Rate will be lower, possibly significantly lower, than the actual Index return.

**Protection Method Considerations.** We set the limit on Index losses for each Indexed Account at our sole discretion. We consider various factors in determining the limit on Index losses, including the cost of our risk management techniques, sales commissions, administrative expenses, regulatory and tax requirements, general economic trends and competitive factors.

You should choose a level of protection that is consistent with your risk tolerance and investment objectives. Generally, assuming the same Index and Indexed Term, an Indexed Account that provides more protection from Index losses will tend to have less potential for Index gains. Conversely, assuming the same Index and Indexed Term, an Indexed Account that provides less protection from Index losses will generally tend to have more potential for Index gains.

● For accounts with a Performance Cap (with the exclusion of Dual Plus), or Performance Trigger Rate, if there is negative Index performance, we absorb the first portion of the negative performance up to the stated percentage and you bear the risk of loss after your chosen Protection Level, including the loss of any previously credited amount.

● For accounts with a Dual Performance Trigger Rate, if there is negative Index performance, we absorb the first portion of the negative Index performance up to the stated percentage of the Protection Level. If there is negative Index performance beyond the Protection Level, we continue to absorb the portion of the negative Index performance up to the stated percentage of the Dual Performance Trigger Rate. For example, if the Dual Performance Trigger Rate is 5%, we would absorb the first 5% of loss beyond the Protection Level. You bear the risk of loss thereafter, including the loss of any previously credited amount.

● For accounts with a Dual Rate, if the Index performance is negative, your Performance Rate equals the Index performance plus the Dual Rate, which may result in either a negative or positive return.

**Reallocation.** You will be notified 25 days prior to each Indexed Anniversary Date regarding the timing of investing in new Indexed Segments. The available Indexed Accounts and applicable Crediting Methods and Protection Methods will be provided at least 5 business days in advance of the Indexed Anniversary Date on your online account or by calling 1-877-737-6872. To view the available Indexed Segments and the applicable rates, log in to your account at www.LincolnFinancial.com and select Account Reallocation under Account Management. Current rates can also be found at www.lfg.com/llarates and are incorporated into this prospectus by reference. If your existing Indexed Segment is at the end of the Indexed Term, you may reallocate the Segment Ending Value to any available Indexed Account. If your existing Indexed Segment is at an Indexed Anniversary during the Indexed Term, you may reallocate the Interim Value to any available Indexed Account. A reallocation request must be received on or before the Indexed Anniversary Date or Indexed Term End Date, as applicable. We will hold reallocation instructions for up to 25 calendar days prior to the Indexed Anniversary Date. The reallocation will take place on the Indexed Anniversary Date. If we do not receive a reallocation notice from you, all Indexed Segments that are ending will invest into a new Indexed Segment with the same term, Index, and Protection Method as the Indexed Segment in which they were previously invested and with the Crediting Method rate applicable to a new Indexed Term. If the same type of Indexed Segment is no longer available, the funds will be moved to the 1-Year S&P 500<sup>®</sup> Price Return Index with Performance Cap, 10% Protection, and will not be eligible for allocation into another Indexed Account until the next Indexed Anniversary Date. The following chart outlines possible reallocations among Indexed Accounts at the end of an Indexed Term or as described under *Secure Lock*+<sup>®</sup>. Indexed Terms of the same term length must have the same Start Date.

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| | | |
|:---|:---|:---|
| **Reallocating To** | **Reallocating From** | **Reallocating From** |
| **Reallocating To** | **1-Year Term** | **6-Year Term** |
| 1-Year Term | &nbsp;&nbsp; Allowed on any<br> Indexed Anniversary Date<br>| &nbsp;&nbsp; Allowed on any<br> Indexed Anniversary Date<br>|
| 6-Year Term | &nbsp;&nbsp; Allowed only on every 6<sup>th</sup> <br>Indexed Anniversary Date<br>| &nbsp;&nbsp; Allowed only on every 6<sup>th</sup> <br>Indexed Anniversary Date<br>|

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Interim Value.** The Interim Value is a daily value we calculate to provide you with a value of your Indexed Segment after the Start Date and before the End Date of an Indexed Term. The Contract Value for an Indexed Segment is equal to the Interim Value on each Valuation Date except the End Date. The Interim Value is used to calculate amounts available for withdrawal, surrender (including advisory fee deductions, any applicable premium tax or rider fees and charges), reallocation, annuitization or payment of a death claim for each day during an Indexed Term other than the End Date. The Interim Value also is used to determine how much the Indexed Crediting Base will be reduced after a withdrawal. See Surrenders and Withdrawals. Once you reach the End Date of the Indexed Term, there is no Interim Value, and the actual performance will be credited to or deducted from your Indexed Segment based on the Performance Rate associated with the Crediting Methods you have chosen. The Interim Value calculation will vary depending on the Indexed Account selected and whether *Secure Lock*+<sup>®</sup> has been elected.

The Interim Value calculation is designed to represent the fair value of the Indexed Segment on each business day, taking into account the potential gain or loss of the applicable Index at the end of the Indexed Term, including the impacts of the Crediting Method you have chosen. The calculation is also designed to reflect the change in fair value due to economic factors, including, but not limited to, the impact of market rates, volatility, and correlation (if applicable) of the investment instruments supporting the Contract. The Interim Value is based on this calculation and not the actual value of any underlying investments or the current value of any Index.

The specifics of the Interim Value calculation are located in the Statement of Additional Information.

If you withdraw Contract Value prior to the End Date of an Indexed Term, the withdrawal will cause an immediate reduction in your Crediting Base in a proportion equal to the reduction in your Interim Value. A proportional reduction could be larger than the dollar amount of your withdrawal. Reductions in your Crediting Base will negatively impact your Interim Value for the remainder of the Indexed Term and will result in a lower Segment Ending Value at the end of the Indexed Term. **Under extreme conditions a negative Contract Adjustment based on Interim Value could result in a loss of up to 100% of your Contract Value.** Such loss can occur even if an Index has increased in value. This means your Interim Value could reflect negative performance, even if the Index Value has increased. Once your Crediting Base is reduced due to a withdrawal during any Indexed Term, you cannot increase it during the remainder of the Indexed Term unless *Secure Lock*+<sup>®</sup> is exercised. The Interim Value and Indexed Crediting Base are available on your online account or by calling us at 1-877-737-6872.

Refer to the Surrender and Withdrawal section for information about the Interim Value and how surrenders or withdrawals are calculated.

***Secure Lock*+**<sup>®</sup> 

On any Valuation Date, excluding an Indexed Anniversary Date, one time each year between an Indexed Term Start Date and Indexed Term End Date, you may request to lock the Interim Value of any unlocked Indexed Segments ("*Secure Lock+*<sup>®</sup>"). You can obtain the current Interim Value by calling 1-877-737-6872 or by logging into your account at www.LincolnFinancial.com. This value fluctuates daily and is calculated at the end of each business day and may be more or less than the value quoted earlier. The Interim Value as calculated as of the close of that Valuation Date will be locked in and once enacted, each singular lock-in is irrevocable. Once locked, the Indexed Segment's Interim Value will not change until the next Indexed Anniversary Date (except any withdrawal made once the Interim Value is locked will reduce the locked value by the dollar amount of the withdrawal). If you request a lock-in when the Interim Value is below your Crediting Base, Protection Levels do not apply and you assume all loss of Indexed Account Value. **If you have elected to lock-in and the value of the Interim Value supporting the Index Segment would have otherwise increased since the lock-in, you will not be able to take advantage of the increase that Contract Year.** In addition, Interim Values that have been locked do not earn any interest while locked. *Secure Lock*+<sup>®</sup> is not available for Annual Lock or Dual Plus Indexed Accounts. If you request a lock-in of the Interim Value, you are not locking the actual Index performance, since the Interim Value is not based on the value of the Index but the fair market value of the portfolio of investment instruments supporting the Indexed Segment.

A request to lock the Interim Value may be made before 4:00 p.m. Eastern Standard Time (i.e. before market close) on any Valuation Date (in order to be processed that Valuation Day), one time between each Contract Year, prior to the Indexed Segment End Date; however, a lock cannot be processed on an Indexed Anniversary Date. You will not know the locked Interim Value until the next Valuation Date. Any request made after 4:00 p.m. Eastern Standard Time (i.e. after market close) or on a day other than a Valuation Date will take effect as of the market close on the following Valuation Date.

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If you choose to lock the Interim Value of a 1-Year Term Indexed Segment, you will remain in that Indexed Segment and the locked in Interim Value will not change (unless a withdrawal is taken), and no fixed interest will be credited from the date of the lock-in to the Term End Date. If you choose to lock the Interim Value of a 6-Year Term Indexed Segment, you will remain in that Indexed Segment and the locked in Interim Value will not change (unless a withdrawal is taken), and no fixed interest will be credited from the date of the lock-in to the Reset Date. On the next Indexed Anniversary Date (if this is not the End Date of the Segment), we will reset the crediting rate for that Indexed Segment, and reset the beginning Index Value and the Segment's Crediting Base to its locked Interim Value (reduced by the dollar amount of any applicable withdrawals, taxes, rider fees and charges), and the Interim Value will begin calculating daily again. These reset values are used in calculating the Segment Ending Value on the End Date of the Indexed Term unless another lock-in is requested, in which case a new crediting rate, beginning Index Value, and Crediting Base would be established following that lock-in. The Protection Level percentage associated with the Segment will not change. If the Indexed Anniversary Date after the lock-in is the End Date, then the Segment Ending Value equals the Interim Value (reduced by the dollar amount of any applicable withdrawals, taxes, riders fees and charges).

In addition, the Reset Rate may limit a positive Index return if you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+<sup>®</sup>. We will reset the Indexed Segment Performance Cap rate, Performance Trigger Rate, or Dual Performance Trigger Rate for the remainder of the Indexed Term following the lock, and these Reset Rates may be lower than the original rates. For example, if the Performance Cap is 4% and you choose to lock in the Interim Value, then on the next Indexed Anniversary date, we could reset the Performance Cap for the remaining Indexed Term to 2%. If the Index return at the end of the Indexed Term is 12%, we will credit 2% in the interest on the End Date of the Indexed Segment.

**Please note:** Once your Interim Value is locked in, we will automatically reset your crediting rate on the next Indexed Anniversary Date unless you have elected to reallocate to another available Indexed Account.

The Reset Rate will be available online (or by phone) 10 days prior to the Indexed Anniversary date. The minimum Reset Rate is 3.50%. Current Reset Rates can be found at www.lfg.com/RILAresetrates and are incorporated into this prospectus by references. Additionally, to view rates for the available Indexed Accounts, log in to your account at www.LincolnFinancial.com and select *Secure Lock+*<sup>®</sup> under Account Management. You should carefully consider whether and when to elect a *Secure Lock+*<sup>®</sup> of your Interim Value. A lock-in may only be requested once per Contract Year during an Indexed Term and is irrevocable. Your locked-in value at the end of the Indexed Term could be less than if you chose not to lock-in. **If you request a lock-in when the Interim Value is below the Indexed Crediting Base, Protection Levels do not apply and you assume all losses of Indexed Account Value.** 

It is possible to utilize the *Secure Lock+*<sup>®</sup> feature and lock-in when the Interim Value is down. Careful consideration must be given before choosing to do this since you would be locking in the full decline in the Interim Value without the benefit of the Protection Level. While potential continued losses in the Interim Value would cease until the next Indexed Anniversary Date, the existing losses would be realized with no guarantee that the Segment would experience any future gains to offset this loss. Below are examples of locking in an Interim Value higher than the Crediting Base and lower than the Crediting Base.

**Locking in an Interim Value Higher than the Crediting Base** 

1/1/2026 Crediting Base is $100,000

4/1/2030 Interim Value is $120,000

4/1/2030 The Contractowner decides to lock-in the $120,000 Interim Value

5/1/2030 Crediting Base is reset to $120,000

**Locking in an Interim Value Lower than the Crediting Base** 

1/1/2026 Crediting Base is $100,000

4/1/2030 Interim Value is $90,000

4/1/2030 The Contractowner decides to lock-in the $90,000 Interim Value

5/1/2030 Crediting Base is reset to $90,000

Additionally, you assume the risk that your Reset Rate may not be known when you request a lock-in, and the Reset Rate may be significantly lower than the rate prior to the lock-in. As less time remains in your Indexed Term, you should expect the Reset Rate to be

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lower, possibly much lower. For example, assuming a 6-year term with a Performance Cap of 300%, if you choose to lock-in three months before the end of the Indexed Term, your rate is based on only two remaining months.

![](img55ae74016.jpg)

**Discontinuation or Substitution of an Index.** We have the right to discontinue or substitute an existing Index for a comparable Index prior to the Indexed Segment End Date for reasons, such as, but not limited to:

● An Index is discontinued;

● We are engaged in a contractual dispute with the Index provider;

● We determine that our use of an Index should be discontinued because, for example, changes to the Index make it impractical or expensive to purchase securities or derivatives to hedge the Index;

● There is a substantial change in the calculation of an Index, resulting in significantly different values and performance; or

● A legal reason we cannot offer the Index.

Although we will attempt to choose a new Index that has a similar investment objective and risk profile to the existing Index, there is risk that the performance of the new Index may not be as good as the performance of the existing Index. As a result, funds allocated to the substituted Index may earn a return that is lower than the return they would have earned if the Index were not substituted. If we substitute an Index, we will notify you at least 30 days in advance of the substitution.

We would attempt to choose a new Index that has a similar investment objective and risk profile to the original Index. The selection criteria for a suitable alternative Index includes, but is not limited to, the following:

● There is a sufficiently large market in exchange traded and/or over-the-counter options, futures and similar derivative instruments based on the Index to allow the company to hedge crediting rates;

● The Index is recognized as a broad-based Index for the relevant market;

● We can offer the same Crediting Method or Protection Method on the substitute Index; and

● The publisher of the Index permits the use of the Index in the Contract and other materials for a reasonable fee.

If we substitute an Index during an Indexed Term, we will combine the return of the replaced Index from the Indexed Start Date to the substitution date with the return of the new Index from the substitution date to the end of the Indexed Term. The Indexed Term, and all applicable rates for the affected Indexed Segment, including the Crediting Method or Protection Method will not change due to the substitution of an Index during the Indexed Term.

If an Index is discontinued and a similar Index cannot be found or if we cannot offer the same Crediting Method or Protection Method, the Indexed Segment will end and the Interim Value on the Valuation Date the Index is discontinued will be used. Lincoln will move the funds into another available Indexed Segment of our choosing, and the funds will not be eligible for allocation into another Indexed Account until the next Indexed Anniversary Date.

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**Charges and Adjustments** 

We will deduct the charges described below to cover our costs and expenses, services provided and risks assumed under the contracts. We incur certain costs and expenses for the distribution and administration of the contracts and for providing the benefits payable thereunder.

**Our administrative services include:** 

● processing applications for and issuing contracts;

● processing purchases and redemptions from Indexed Accounts as required (including automatic withdrawal services if available – See Additional Services and the SAI for more information on this program);

● maintaining records;

● administering Annuity Payouts;

● furnishing accounting and valuation services (including the calculation and monitoring of daily Indexed Contract Values and Interim Values);

● reconciling and depositing cash receipts;

● providing contract confirmations;

● providing toll-free inquiry services; and

● furnishing telephone and other electronic surrenders, withdrawals and reallocations.

**The risks we assume include:** 

● the risk that Annuitants upon which Annuity Payouts are based live longer than we assumed when we calculated our guaranteed rates (these rates are stated in the Contract and cannot be changed);

● the risk that our costs in providing the services will exceed our revenues from contract charges (which we cannot change);

● the risks related to supporting and replicating Indexed Account performance with our assets.

The amount of a charge may not necessarily correspond to the costs associated with providing the services or benefits indicated by the description of the charge. Any remaining expenses will be paid from our general account which may consist, among other things, of proceeds derived from the base contract expenses deducted from the account. We may profit from the charges deducted under the Contract and from amounts earned on the Indexed Accounts. We may use these profits for any corporate purpose, including financing the distribution of the Contracts.

Obligations under the Contracts that are funded by our general account include 1) the obligation to pay Death Benefits that exceed the Contract Value; 2) the obligation to pay Annuity Payouts that exceed the Contract Value; and 3) our obligations under the Indexed Accounts. Payment of these benefits and obligations is subject to our claims-paying ability and financial strength. We are also responsible for providing for all of the administrative services necessary in connection with the Contract (and bearing all of the associated expenses).

**Contract Adjustments** 

If you make any withdrawals, surrender or terminate your Contract, reallocate Contract Value from an Indexed Segment, annuitize your Contract or upon payment of a death benefit from an Indexed Segment on any date prior to the Segment End Date, your Contract Value in the Indexed Segment will be its Interim Value. You could lose a significant amount of money due to Contract Adjustments based on Interim Values if amounts are removed from an Indexed Segment prior to the Segment End Date. Your Interim Value may be less than the amount invested and may be less than the amount you would receive had you held the investment in the Indexed Segment until the Segment End Date. Under extreme conditions, a negative Contract Adjustment based on Interim Values could result in a loss of up to 100% of your Contract Value.

The Interim Value calculation is designed to represent the fair value of the Indexed Segment on each business day, taking into account the potential gain or loss of the applicable Index at the end of the Indexed Term, including the impacts of the Crediting Method as well as Protection Method you have chosen. The calculation is also designed to reflect the change in fair value due to economic factors, including, but not limited to, the impact of market rates, volatility, and correlation (if applicable) of the investment instruments supporting the Contract. The Interim Value is based on this calculation and not the actual value of any underlying investments or the current value of any Index. The use of Interim Values transfers risk from us to you to protect us from losses on our investments supporting the Indexed Crediting Rate strategies if amounts are removed prematurely.

For more information about the Interim Value, including examples illustrating the operation of the Interim Values, please see the Statement of Additional Information.

If you withdraw Contract Value prior to the End Date of an Indexed Term, the withdrawal will cause an immediate reduction in your Crediting Base in a proportion equal to the reduction in your Interim Value. A proportional reduction could be larger than the dollar amount of your withdrawal. Reductions in your Crediting Base will negatively impact your Interim Value for the remainder of the Indexed Term and will result in a lower Segment Ending Value at the end of the Indexed Term. Once your Crediting Base is reduced

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due to a withdrawal during any Indexed Term, you cannot increase it during the remainder of the Indexed Term unless *Secure Lock*+<sup>®</sup> is exercised. The Interim Value and Indexed Crediting Base are available on your online account or by calling us at 1-877-737-6872.

**Deductions for Premium Taxes** 

Any premium tax or other tax levied by any governmental entity as a result of the existence of the contracts will be deducted from the Contract Value, unless the governmental entity dictates otherwise, when incurred, or at another time of our choosing.

The applicable premium tax rates that states and other governmental entities impose on the purchase of an annuity are subject to change by legislation, by administrative interpretation or by judicial action. These premium tax rates generally depend upon the law of your state of residence. Currently, there is no premium tax levied for New York residents.

**The Contracts**

**Purchase of Contracts** 

This Contract is issued as part of a Fee-Based Financial Plan. A Fee-Based Financial Plan generally refers to a wrap account, managed account or other investment program whereby an investment firm/professional offers asset allocation and/or investment advice for a fee. This fee is in addition to contract fees and expenses. Such programs can be offered by broker-dealers, banks and registered investment advisers, trust companies and other firms. Under this arrangement, the Contractowner pays the investment firm/professional directly for services. You may be able to pay this fee by taking advisory fee withdrawals from your Contract Value. If you elect to pay third-party advisory fees out of your Contract Value, each deduction will be treated as a withdrawal and will reduce your Death Benefit. In addition, each deduction will be treated as an early withdrawal and may be subject to a negative Contract Adjustment and may be subject to federal and state income taxes and a 10% federal penalty tax. See Federal Tax Matters – Payment of Investment Advisory Fees.

If you wish to purchase a Contract, you must apply for it through a financial professional authorized by us. The completed application is sent to us and we decide whether to accept or reject it. If the application is accepted, a Contract is prepared and executed by our legally authorized officers. The Contract is then sent to you either directly or through your financial professional. See Distribution of the Contracts. The purchase of multiple contracts with identical Contractowners, Annuitants and Beneficiaries will be allowed only upon Home Office approval.

**Who Can Invest** 

To apply for a contract, you must be of legal age in a state where the contracts may be lawfully sold and also be eligible to participate in any of the qualified or nonqualified plans for which the contracts are designed. At the time of issue, the Contractowner, joint owner and Annuitant must be under age 86. **Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account in an effort to help the government fight the funding of terrorism and money laundering activities. When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license, photo i.d. or other identifying documents.** 

In accordance with anti-money laundering laws and federal economic sanction policy, the Company may be required in a given instance to reject a Purchase Payment and/or freeze a Contractowner's account. This means we could refuse to honor requests for transfers, withdrawals, surrenders or Death Benefits. Once frozen, monies would be moved from the Indexed Account to an interest-bearing account maintained solely for the Contractowner, and held in that account until instructions are received from the appropriate regulator.

Do not purchase the Contract if you plan to use it, or any of its riders, for speculation, arbitrage, viatical arrangement, or other similar investment scheme. The Contract may not be resold, traded on any stock exchange, or sold on any secondary market.

If you are purchasing the Contract through a tax-favored arrangement, including traditional IRAs and Roth IRAs, you should consider carefully the costs and benefits of the Contract (including annuity income benefits) before purchasing the Contract, since the tax-favored arrangement itself provides tax-deferred growth.

**Replacement of Existing Insurance** 

Careful consideration should be given prior to surrendering or withdrawing money from an existing insurance contract to purchase a Contract described in this prospectus. Surrender charges may be imposed on your existing contract. The benefits offered under this Contract may be less favorable or more favorable than the benefits offered under your current contract. It also may have different charges. You should consult with your financial professional and/or your tax advisor prior to making an exchange. Cash surrenders from an existing contract may be subject to tax and tax penalties.

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**Purchase Payment** 

The minimum Purchase Payment is $25,000. **We do not accept additional Purchase Payments after the Contract has been issued to you.** Accordingly, you will be unable to increase your Contract Value or Death Benefit by making subsequent Purchase Payments. If the Purchase Payment submitted does not meet the minimum amount, we will contact you to ask whether additional money will be sent, or whether we should return the Purchase Payment to you. Any funds received after 45 days from the date you signed your application (or submitted an electronic application) will be returned to you.

If we choose to extend that time period, the 45-day rate hold period will expire and the crediting rates currently in effect would apply. Any funds received after your Contract has been issued will be returned to you. You can find the crediting rates currently in effect at www.lfg.com/llarates or by calling us at 1-877-737-6872.

You must obtain approval for a Purchase Payment totaling $1 million or more. This amount takes into consideration the total Purchase Payments for all existing *Lincoln Level Advantage*<sup>®</sup>, *Lincoln Level Advantage* 2<sup>®</sup> and *Lincoln Level Advantage 2 Income*<sup>SM</sup> contracts for the same Contractowner, joint owner, and/or Annuitant. At the Company's discretion, this amount may consider total Purchase Payments for all annuity contracts issued by the Company (or its affiliates) for the same Contractowner, joint owner, and/or Annuitant.

**Valuation Date** 

Indexed Segments will be valued once daily at the close of regular trading (normally, 4:00 p.m., Eastern Time) on each day the New York Stock Exchange is open (Valuation Date). On any date other than a Valuation Date, the value of the Indexed Segment will not change.

**Allocation of the Purchase Payment** 

The Purchase Payment will be allocated, according to your instructions, among one or more of the Indexed Accounts available under your Contract. The minimum amount that may be allocated into an Indexed Account is $2,000.

The Contract effective date will be the date on which money is first applied to the Indexed Accounts to establish the initial Indexed Term and will be the Indexed Anniversary Date. After the Indexed Anniversary Date is established, that is the only date each year that allocations can be invested in the Indexed Accounts. Your Contract will be issued, at the earlier of, when the entire Purchase Payment is received or no later than the 45<sup>th</sup> calendar day after the date you signed your application (or submitted an electronic application), provided the minimum Purchase Payment requirement was met. All funds received on or prior to the Contract effective date will be considered your Purchase Payment.

If the last day to issue your contract is not a business day, the Contract effective date and the initial Indexed Value for your Indexed Segments will be the closing value of the next Valuation Date. Excluding February 29<sup>th</sup>, any calendar date can be a Contract Date, Indexed Anniversary Date, or Valuation Date.

The rates for the initial Indexed Segments you selected will be determined based on any applicable crediting rate hold restrictions. For current crediting rate hold restrictions please call us at 1-877-737-6872. Current rates are available on our website at www.lfg.com/llarates.

**Telephone and Electronic Transactions** 

A surrender, withdrawal, or reallocation request may be made to our Servicing Office in writing or by fax. These transactions may also be made by telephone or other electronic means, provided the appropriate authorization is on file with us. In order to prevent unauthorized or fraudulent transfers, we may require certain identifying information before we will act upon instructions. We may also assign the Contractowner a Personal Identification Number (PIN) to serve as identification. We will not be liable for following instructions we reasonably believe are genuine. Telephone and other electronic requests will be recorded and written confirmation of all transactions will be mailed or sent electronically to the Contractowner on the next Valuation Date.

Please note that the telephone and/or electronic devices may not always be available. Any telephone, fax machine, or other electronic device, whether it is yours, your service provider's, or your financial professional's, can experience outages or slowdowns for a variety of reasons. These outages or slowdowns may delay or prevent our processing of your request. Although we have taken precautions to limit these problems, we cannot promise complete reliability under all circumstances. If you are experiencing problems, you should make your request by writing to our Servicing Office.

**Ownership** 

The Contractowner on the date of issue will be the person or entity designated in the contract specifications. The Contractowner of a nonqualified contract may name a joint owner. We reserve the right to limit certain types of ownership structures. Please contact your financial professional for more information.

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As Contractowner, you have all rights under the Contract. We reserve the right to approve all ownership and Annuitant changes. A transfer of ownership, or a revocation of transfer, must be provided in a notice to the Servicing Office. When a notice to transfer or revocation is received, any allowable change will take effect as of the date the notice was signed by the Owner, unless otherwise specified by the Owner. The change in ownership is subject to any payments made or any action taken or allowed by us before the transfer or the revocation is received.

This Contract may be assigned or transferred. We will not be bound by any assignment unless notice of the assignment is provided at the Servicing Office. The effective date of the assignment will be the date it is signed by the Owner unless otherwise specified by the Owner. The change is subject to any payments made or actions taken or allowed by us before the assignment is received. We will not be responsible for the validity of any assignment.

Nonqualified contracts may not be sold, discounted, or pledged as collateral for a loan or for any other purpose. Qualified contracts are not transferable unless allowed under applicable law. Nonqualified contracts may not be collaterally assigned. Assignments may have an adverse impact on your Death Benefits and may be prohibited under the terms of a particular feature. We assume no responsibility for the validity or effect of any assignment. Consult your tax advisor about the tax consequences of an assignment.

**Joint Ownership** 

If a Contract has joint owners, the joint owners shall be treated as having equal undivided interests in the Contract. Either owner, independently of the other, may exercise any ownership rights in this Contract. Not more than two owners (an owner and joint owner) may be named and contingent owners are not permitted.

**Annuitant** 

The following rules apply prior to the Annuity Commencement Date. You may name only one Annuitant (unless you are a tax-exempt entity, then you can name two joint Annuitants). You (if the Contractowner is a natural person) have the right to change the Annuitant at any time by notifying us in writing of the change. However, we reserve the right to approve all Annuitant changes. This may not be allowed if certain riders are in effect. The new Annuitant must be under age 86 as of the effective date of the change. A contingent Annuitant may be named or changed by notifying us in writing. Contingent Annuitants are not allowed on contracts owned by non-natural owners. On or after the Annuity Commencement Date, the Annuitant or joint Annuitants may not be changed and contingent Annuitant designations are no longer applicable.

**Surrenders and Withdrawals** 

Before the Annuity Commencement Date, we will allow the surrender of the Contract or a withdrawal of the Contract Value upon your written request on an approved Lincoln distribution request form (available from the Servicing Office), fax, or other electronic means approved by Lincoln. Withdrawal requests may be made by telephone, subject to certain restrictions. All surrenders and withdrawals may be made in accordance with the rules discussed below. Surrender or withdrawal rights after the Annuity Commencement Date are not available.

The amount available upon surrender/withdrawal is the Contract Value less any applicable charges, fees, and taxes at the end of the Valuation Period during which the written request for surrender/withdrawal is received in Good Order at the Servicing Office. If we receive a surrender or withdrawal request in Good Order at our Servicing Office before the close of the NYSE (normally 4:00 p.m., Eastern Time), we will process the request from the Interim Value computed on that Valuation Date. If we receive a surrender or withdrawal request in Good Order at our Servicing Office after market close, we will process the request using the Interim Value computed on the next Valuation Date. There may be circumstances under which the NYSE may close early (prior to 4:00 p.m., Eastern Time). In such instances, surrender or withdrawal requests received after such early market close will be processed using the Interim Value computed on the next Valuation Date. The minimum amount which can be withdrawn is $300.

Prior to the End Date of the Indexed Segment, an amount equal to the Interim Value of the Indexed Segment is available for surrender or withdrawal. In addition, the Indexed Crediting Base for each individual Indexed Segment is reduced proportionately by the amount that the withdrawal reduced the Interim Value. A proportional reduction could be larger than the dollar amount of the withdrawal. Reductions to your Indexed Crediting Base will negatively impact your Interim Value for the remainder of the Indexed Term and will result in a lower Segment Ending Value at the end of the Indexed Term. You cannot withdraw an amount equal to the Indexed Crediting Base. The following examples show how the Indexed Crediting Base is impacted by a withdrawal.

**Example 1:** 

1/1/2026 Allocation to Indexed Segment = $80,000

1/1/2026 Indexed Crediting Base = $80,000

6/1/2026 Indexed Crediting Base = $80,000; Interim Value = $100,000; Withdrawal = $80,000

Withdrawal/Interim Value = $80,000 ÷ $100,000 = 80%

Removed Amount from the Indexed Crediting Base = $64,000 (80% of $80,000)

Indexed Crediting Base after withdrawal = $80,000 - $64,000 = $16,000

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Interim Value after withdrawal ($100,000 - $80,000) = $20,000

Interim Value calculation going forward and Segment Ending Value will be based on the $16,000 Indexed Crediting Base

**Example 2:** 

Indexed Crediting Base = $16,000; Interim Value = $15,000; Withdrawal = $15,000

Withdrawal/Interim Value = $15,000 ÷ $15,000 = 100%

Removed Amount from the Indexed Crediting Base = $16,000 (100% of $16,000)

Indexed Crediting Base after withdrawal = $0

Interim Value after withdrawal = $0 ($15,000 - $15,000)

Note: The $15,000 Interim Value is the maximum that could be withdrawn during the Indexed Term. The Indexed Crediting Base is not available for withdrawal or transfer.

The tax consequences of a surrender/withdrawal are discussed later in this prospectus. See Federal Tax Matters – Taxation of Withdrawals and Surrenders.

**Benefits Available Under the Contract** 

**The following tables summarize information about the benefits available under the Contract.** A detailed description of each benefit follows the table.

Benefits availability may vary by state of issue or selling broker-dealer. All variations, if material, will be disclosed in the prospectus.

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| | | | |
|:---|:---|:---|:---|
| **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** |
| **Name of Benefit** | **Purpose** | **Maximum Fee** | &nbsp;&nbsp; **Brief Description of Restrictions /** <br> **Limitations**<br>|
| **Account Value Death** <br> **Benefit**<br>| &nbsp;&nbsp; Provides a Death Benefit equal to the <br> Contract Value.<br>| None | &nbsp;&nbsp; ●Poor investment performance could <br> significantly reduce the benefit.<br>●Withdrawals (including the deduction of <br> advisory fees) could significantly reduce <br> the benefit.<br>|
| **Automatic Withdrawal** <br> **Service**<br>| &nbsp;&nbsp; Allows you to take periodic withdrawals <br> from your Contract automatically.<br>| None | &nbsp;&nbsp; ●Withdrawals from Indexed Accounts will <br> be processed at a Segment's Interim <br> Value as of the Valuation Date the <br> withdrawal is made unless the <br> withdrawal is processed on the End Date <br> of the Indexed Term.<br>●The deduction of advisory fees will <br> impact your Contract Value.<br>●We reserve the right to discontinue this <br> administrative service at any time.<br>|

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**Death Benefit** 

**The chart below provides a brief overview of how the Death Benefit proceeds will be distributed if death occurs prior to the Annuity Commencement Date. Refer to your Contract for the specific provisions applicable upon death.** 

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| | | | |
|:---|:---|:---|:---|
| **upon death of:** | **and...** | **and...** | **Death Benefit proceeds pass to:** |
| Contractowner | There is a surviving joint owner | The Annuitant is living or deceased | Joint owner |
| Contractowner | There is no surviving joint owner | The Annuitant is living or deceased | Designated Beneficiary |
| Contractowner | &nbsp;&nbsp; There is no surviving joint owner <br> and the Beneficiary predeceases the <br> Contractowner<br>| The Annuitant is living or deceased | Contractowner's estate  |

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| | | | |
|:---|:---|:---|:---|
| **upon death of:** | **and...** | **and...** | **Death Benefit proceeds pass to:** |
| Annuitant | The Contractowner is living | There is no contingent Annuitant | &nbsp;&nbsp; The youngest Contractowner <br> becomes the contingent Annuitant <br> and the Contract continues. The <br> Contractowner may waive\* this <br> continuation and receive the Death <br> Benefit proceeds.<br>|
| Annuitant | The Contractowner is living | The contingent Annuitant is living | &nbsp;&nbsp; Contingent Annuitant becomes the <br> Annuitant and the Contract <br> continues<br>|
| Annuitant\*\* | &nbsp;&nbsp; The Contractowner is a trust or <br> other non-natural person<br>| &nbsp;&nbsp; No contingent Annuitant allowed <br> with non-natural Contractowner<br>| Designated Beneficiary |

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\*

Notification from the Contractowner to receive the Death Benefit proceeds must be received within 75 days of the death of the Annuitant.

\*\*

Death of Annuitant is treated like death of the Contractowner.

If the Contractowner (or a joint owner) or Annuitant dies prior to the Annuity Commencement Date, a Death Benefit may be payable. This Death Benefit terminates on the Annuity Commencement Date.

You should consider the following provisions carefully when designating the Beneficiary, Annuitant, any contingent Annuitant and any joint owner, as well as before changing any of these parties. The identity of these parties under the Contract may significantly affect the amount and timing of the Death Benefit or other amount paid upon a Contractowner's or Annuitant's death.

You may designate a Beneficiary during your lifetime and change the Beneficiary by filing a written request with our Servicing Office. Each change of Beneficiary revokes any previous designation. We reserve the right to request that you send us the Contract for endorsement of a change of Beneficiary.

Upon the death of the Contractowner, a Death Benefit will be paid to the Beneficiary. Upon the death of a joint owner, the Death Benefit will be paid to the surviving joint owner. If the Contractowner is a corporation or other non-individual (non-natural person), the death of the Annuitant will be treated as death of the Contractowner.

If an Annuitant who is not the Contractowner or joint owner dies, then the contingent Annuitant, if named, becomes the Annuitant and no Death Benefit is payable on the death of the Annuitant. If no contingent Annuitant is named, the Contractowner (or younger of joint owners) becomes the Annuitant. Alternatively, a Death Benefit may be paid to the Contractowner (and joint owner, if applicable, in equal shares). Notification of the election of this Death Benefit must be received by us within 75 days of the death of the Annuitant. The Contract terminates when any Death Benefit is paid due to the death of the Annuitant.

**Only the Contract Value as of the Valuation Date we approve the payment of the death claim is available as a Death Benefit if a Contractowner, joint owner, or Annuitant was added or changed subsequent to the effective date of this Contract unless the change occurred because of the death of a prior Contractowner, joint owner, or Annuitant. If your Contract Value equals zero, no Death Benefit will be paid.**

**Account Value Death Benefit.** The Account Value Death Benefit provides a Death Benefit equal to the Contract Value on the Valuation Date the Death Benefit is approved by us for payment. **No additional Death Benefit is provided.** For example, assume an initial deposit into the Contract of $25,000. The Contract Value increases and equals $28,000 on the Valuation Date the Death Benefit is approved by us for payment. The amount of Death Benefit paid equals $28,000. There is no charge for this Death Benefit.

Advisory fee withdrawals will always reduce the Contract Value on a dollar-for-dollar basis. For example, assume a Contract Value of $10,000, and a deduction of $100 is made for the advisory fee. The amount of your Contract Value is reduced to $9,900.

**General Death Benefit Information** 

**Your Death Benefit terminates on and after the Annuity Commencement Date.** 

If there are joint owners, upon the death of the first Contractowner, we will pay a Death Benefit to the surviving joint owner. The surviving joint owner will be treated as the primary, designated Beneficiary. Any other Beneficiary designation on record at the time of death will be treated as a contingent Beneficiary. If the surviving joint owner is the spouse of the deceased joint owner, that individual may continue the Contract as sole Contractowner. Upon the death of the spouse who continued the Contract, we will pay the Account Value Death Benefit to the designated Beneficiary(s).

All Contract provisions relating to spousal continuation are available only to a person who meets the definition of "spouse" under federal law. The U.S. Supreme Court has held that same-sex marriages must be permitted under state law and that marriages recognized under state law will be recognized for federal law purposes. Domestic partnerships and civil unions that are not recognized as legal

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marriages under state law, however, will not be treated as marriages under federal law. **You are strongly encouraged to consult a tax advisor before electing spousal rights under the Contract.** 

The value of the Death Benefit will be determined as of the Valuation Date we approve the payment of the claim. Approval of payment will occur upon our receipt of a claim submitted in Good Order or one year from the date of the death for nonqualified contracts and December 31<sup>st</sup> of the year following death for IRAs. To be in Good Order, we require all the following:

1. an original certified death certificate, or other proof of death satisfactory to us; and

2. written authorization for payment; and

3. all required claim forms, fully completed (including selection of a settlement option).

Notwithstanding any provision of this Contract to the contrary, the payment of Death Benefits provided under this Contract must be made in compliance with Code Section 72(s) or 401(a)(9) as applicable, as amended from time to time. Death Benefits may be taxable. See Federal Tax Matters.

Unless otherwise provided in the Beneficiary designation, one of the following procedures will take place on the death of a Beneficiary:

● if any Beneficiary dies before the Contractowner, that Beneficiary's interest will go to any other Beneficiaries named, according to their respective interests; and/or

● if no Beneficiary survives the Contractowner, the proceeds will be paid to the Contractowner's estate.

If the Beneficiary is a minor, court documents appointing the guardian/custodian may be required.

The Beneficiary may choose the method of payment of the Death Benefit unless the Contractowner has already selected a settlement option. All methods of payment of Death Benefit must comply with Section 72(s) of the Code, or Section 401(a)(9) of the Code for qualified contracts. The Death Benefit payable to the Beneficiary or joint owner of a nonqualified contract must be distributed within five years of the Contractowner's date of death unless the Beneficiary begins receiving within one year of the Contractowner's death the distribution in the form of a life annuity or an annuity for a designated period not extending beyond the Beneficiary's life expectancy and payments must begin within one year of the Contractowner's date of death.

For qualified contracts, the Death Benefit payable to the Beneficiary or joint owner must be distributed within 10 years of the Contractowner's date of death unless the Beneficiary qualifies as an eligible designated beneficiary and begins receiving distributions before December 31<sup>st</sup> of the year following the year of the Contractowner's death. The eligible designated beneficiary must begin receiving the distributions in the form of annuity not extending beyond the Beneficiary's life expectancy.

Note: Indexed Accounts cannot be divided into separate contracts when there are multiple beneficiaries. If more than one beneficiary chooses a death benefit option other than a lump sum, the existing Indexed Account(s) will need to be surrendered at the Interim Value to be allocated to multiple beneficiaries. New Indexed Accounts can be selected on the new contracts if desired with the currently available features.

Upon the death of the Annuitant, Federal tax law requires that an annuity election be made no later than 60 days after we have approved the death claim for payment.

The recipient of a Death Benefit may elect to receive payment either in the form of a lump sum settlement or an Annuity Payout. If a lump sum settlement is elected, the proceeds will be mailed within seven days of approval by us of the claim subject to the laws, regulations and tax code governing payment of Death Benefits. This payment may be postponed as permitted by the Investment Company Act of 1940.

**Abandoned Property.** Every state has unclaimed property laws which generally declare annuity contracts to be abandoned after a period of inactivity of three to five years from the date a benefit is due and payable. For example, if the payment of a Death Benefit has been triggered, but, if after a thorough search, we are still unable to locate the Beneficiary of the Death Benefit, or the Beneficiary does not come forward to claim the Death Benefit in a timely manner, the Death Benefit will be "escheated". This means that the Death Benefit will be paid to the abandoned property division or unclaimed property office of the state in which the Beneficiary or the Contractowner last resided, as shown on our books and records, or to our state of domicile. This escheatment is revocable and the state is obligated to pay the Death Benefit (without interest) if your Beneficiary steps forward to claim it with the proper documentation.

To prevent such escheatment, it is important that you update your Beneficiary designations, including addresses, if and as they change. You may update your Beneficiary designations by submitting a Beneficiary change form to our Servicing Office.

**Additional Service**

**Automatic Withdrawal Service.** The automatic withdrawal service (AWS) provides for an automatic periodic withdrawal of your Contract Value. Withdrawals from Indexed Accounts will be at Interim Value unless they coincide with a Segment End Date. See Indexed

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Accounts – Interim Value. Participating in an AWS may potentially expose you to certain risks. See Principal Risks of Investing in the Contract. Withdrawals under AWS will be noted on your quarterly statement. Confirmation statements for each individual withdrawal will not be issued.

Currently, there is no charge for this service. However, we reserve the right to impose one after appropriate notice to Contractowners. In order to take advantage of this service, you will need to complete the appropriate election form that is available online at LincolnFinancial.com or from our Servicing Office. This service will stop once we are notified of a pending death claim.

We reserve the right to discontinue this administrative service at any time.

**Fees Associated with Fee-Based Financial Plans.** You have purchased this Contract as part of a Fee-Based Financial Plan whereby an investment firm or professional offers investment advice for a fee. The fee for this advice is set by your financial professional, and is covered in a separate agreement between you and your financial professional. Lincoln has not made any independent review of your financial professional. You may provide authorization to have your advisory fees paid to your financial professional's investment firm from your Contract Value, if certain conditions apply. These payments will be treated as withdrawals from your Contract Value and may result in a significant reduction in your Death Benefit. Over time, withdrawals taken for the payment of advisory fees could significantly reduce your Contract Value. Please discuss with your financial professional the impact of deducting advisory fees from Contract Value prior to making an election.

Partial withdrawals to pay the fee may be taken automatically by enrolling in an AWS designated specifically for this purpose. Withdrawals are available in monthly, quarterly, semi-annual, or annual frequencies. You may enroll in this service by completing the appropriate authorization form that is available from your financial professional. Additionally, you may authorize your financial professional to set up or change your AWS program, or to take one-time withdrawals to pay for the advisory fee. Once you have elected this service, it will continue until you instruct us in writing to terminate it. Withdrawals under this AWS option and one time withdrawals will be noted on your quarterly statement as an advisory fee withdrawal. This AWS service may not be available through all broker-dealers.

Withdrawals under AWS are treated like other withdrawals under the Contract, and as such may decrease your guarantees under a Death Benefit. See the Death Benefit sections of this prospectus for more information on how withdrawals affect these benefits. Advisory fee withdrawals will not be treated as a distribution for federal tax purposes, if certain conditions are met. See Federal Tax Matters – Taxation of Withdrawals and Surrenders for more information. Regardless of how the advisory fee withdrawal is treated for federal tax purposes, an advisory fee withdrawal from the Contract will always reduce the Contract Value and Contract Value portion of the elected Death Benefit on a dollar-for-dollar basis.

**Annuity Payouts** 

Your Contract Value invested in the Indexed Accounts must be transferred to a fixed Annuity Payout prior to the Annuity Commencement Date. See Principal Risks of Investing in the Contract. When you apply for a Contract, you may select any Annuity Commencement Date permitted by law, which is usually on or before the Annuitant's 99<sup>th</sup> birthday. Your financial professional may recommend that you annuitize at an earlier age.

The Contract provides optional forms of payouts of annuities (annuity options). The Indexed Accounts are not available as Annuity Payout options. The Contract provides that all of the Contract Value may be used to purchase an Annuity Payout option.

You may elect Annuity Payouts in monthly, quarterly, semiannual or annual installments. Following are explanations of the annuity options available.

**Annuity Options** 

**Life Annuity.** This option offers a periodic payout during the lifetime of the Annuitant and ends with the last payout before the death of the Annuitant. This option offers the highest periodic payout since there is no guarantee of a minimum number of payouts or provision for a Death Benefit for Beneficiaries. **However, there is the risk under this option that the recipient would receive no payouts if the Annuitant dies before the date set for the first payout; only one payout if death occurs before the second scheduled payout, and so on.** 

**Life Annuity with Period Certain.** This option guarantees periodic payouts during a designated period, usually 10 or 20 years, and then continues throughout the lifetime of the Annuitant. The designated period is selected by the Contractowner.

**Joint Life Annuity.** This option offers a periodic payout during the joint lifetime of the Annuitant and a designated joint Annuitant. The payouts continue during the lifetime of the survivor. **However, under a joint life annuity, if both Annuitants die before the date set for the first payout, no payouts will be made. Only one payment would be made if both deaths occur before the second scheduled payout, and so on.** 

**Joint Life Annuity with Period Certain.** This option guarantees periodic payouts during a designated period, usually 10 or 20 years, and continues during the joint lifetime of the Annuitant and a designated joint Annuitant. The payouts continue during the lifetime of the survivor. The designated period is selected by the Contractowner.

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**Joint Life and Two Thirds to Survivor Annuity.** This option provides a periodic payout during the joint lifetime of the Annuitant and a designated joint Annuitant. When one of the joint Annuitants dies, the survivor receives two thirds of the periodic payout made when both were alive.

**Joint Life and Two-Thirds Survivor Annuity with Period Certain.** This option provides a periodic payout during the joint lifetime of the Annuitant and a designated joint Annuitant. When one of the joint Annuitants dies, the survivor receives two-thirds of the periodic payout made when both were alive. This option further provides that should one or both of the Annuitants die during the elected guaranteed period, usually 10 or 20 years, full benefit payment will continue for the rest of the guaranteed period.

**Life Annuity with Cash Refund.** This option provides fixed annuity benefit payments that will be made for the lifetime of the Annuitant with the guarantee that upon death, should (a) the total dollar amount applied to purchase this option be greater than (b) the fixed annuity benefit payment multiplied by the number of annuity benefit payments paid prior to death, then a refund payment equal to the dollar amount of (a) minus (b) will be made.

Under the annuity options listed above, you may not make withdrawals. Other options, with or without withdrawal features, may be made available by us. You may pre-select an Annuity Payout option as a method of paying the Death Benefit to a Beneficiary. If you do, the Beneficiary cannot change this payout option. You may change or revoke in writing to our Servicing Office, any such selection, unless such selection was made irrevocable. If you have not already chosen an Annuity Payout option, the Beneficiary may choose any Annuity Payout option. At death, options are only available to the extent they are consistent with the requirements of the Contract as well as Sections 72(s) and 401(a)(9) of the tax code, if applicable.

**General Information** 

**Any previously selected Death Benefit in effect before the Annuity Commencement Date will no longer be available on and after the Annuity Commencement Date. Any portion of your Contract Value invested in the Indexed Accounts must be moved to a fixed Annuity Payout prior to the Annuity Commencement Date.** You may change the Annuity Commencement Date or change the annuity option up to 30 days before the scheduled Annuity Commencement Date, upon written notice to the Home Office. You must give us at least 30 days' notice before the date on which you want payouts to begin. We may require proof of age, sex, or survival of any payee upon whose age, sex, or survival payments depend.

Unless you select another option, the Contract automatically provides for a life annuity with Annuity Payouts guaranteed for 10 years (on a fixed basis) except when a joint life payout is required by law. Under any option providing for guaranteed period payouts, the number of payouts which remain unpaid at the date of the Annuitant's death (or surviving Annuitant's death in case of joint life Annuity) will be paid to you or your Beneficiary as payouts become due after we are in receipt of:

● proof of the death, satisfactory to us;

● written authorization for payment; and

● all claim forms, fully completed.

**Small Contract Surrenders** 

We may surrender your Contract, in accordance with New York law if:

● your Contract Value drops below certain state specified minimum amounts ($2,000 or less) for any reason, including if your Contract Value decreases due to the performance of the Indexed Accounts you selected; and

● the annuity benefit at the Annuity Commencement Date would be less than $20.00 per month.

At least 60 days before we surrender your Contract, we will send you a letter at your last address we have on file, to inform you that your Contract will be surrendered. Surrenders from the Indexed Accounts will be calculated using the Interim Value.

**Delay of Payments** 

Due to federal laws designed to counter terrorism and prevent money laundering by criminals, we may be required to reject a Purchase Payment and/or deny payment of a request for transfers, withdrawals, surrenders, or Death Benefits, until instructions are received from the appropriate regulator. We also may be required to provide additional information about a Contractowner's account to government regulators.

**Amendment of Contract** 

We reserve the right to amend the Contract to meet the requirements of applicable federal or state laws or regulations. You will be notified in writing of any changes, modifications or waivers. Any changes are subject to prior approval of your state's insurance department (if required).

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**Distribution of the Contracts** 

Lincoln Financial Distributors, Inc. ("LFD") serves as Principal Underwriter of this Contract. LFD is affiliated with Lincoln New York and is registered as a broker-dealer with the SEC under the Securities Exchange Act of 1934 and is a member of FINRA (Financial Industry Regulatory Authority). The Principal Underwriter has entered into selling agreements with broker-dealers that are unaffiliated with us ("Selling Firms"). While the Principal Underwriter has the legal authority to make payments to broker-dealers which have entered into selling agreements, we will make such payments on behalf of the Principal Underwriter in compliance with appropriate regulations. We also pay on behalf of LFD certain of its operating expenses related to the distribution of this and other of our contracts. The Principal Underwriter may also offer "non-cash compensation", as defined under FINRA's rules, which includes among other things, merchandise, gifts, marketing support, sponsorships, seminars, entertainment and travel expenses. You should ask your financial professional how the broker-dealer will be compensated for the sale of the Contract to you, or for any alternative proposal that may have been presented to you. You should take such compensation into account when considering and evaluating any recommendation made to you in connection with the purchase of a Contract. The following paragraphs describe how payments are made by us and the Principal Underwriter to various parties. No commissions are paid to financial intermediaries in connection with the sale of this Contract because such intermediaries receive compensation in the form of advisory fees paid by Contractowners.

**Compensation Paid to Selling Firms**. LFD also acts as wholesaler of the contracts and performs certain marketing and other functions in support of the distribution and servicing of the contracts. LFD may pay certain Selling Firms or their affiliates additional amounts for, among other things: (1) "preferred product" treatment of the contracts in their marketing programs, which may include marketing services and increased access to financial professionals; (2) sales incentives relating to the contracts; (3) costs associated with sales conferences and educational seminars for their financial professionals; (4) other sales expenses incurred by them; and (5) inclusion in the financial products the Selling Firm offers.

Lincoln New York may provide loans to broker-dealers or their affiliates to help finance marketing and distribution of the contracts, and those loans may be forgiven if aggregate sales goals are met. In addition, we may provide staffing or other administrative support and services to broker-dealers who distribute the contracts. LFD, as wholesaler, may make bonus payments to certain Selling Firms based on aggregate sales of our variable insurance contracts (including the contracts) or persistency standards.

These additional types of compensation are not offered to all Selling Firms. The terms of any particular agreement governing compensation may vary among Selling Firms and the amounts may be significant. The prospect of receiving, or the receipt of, additional compensation may provide Selling Firms and/or their financial professionals with an incentive to favor sales of the contracts over other variable annuity contracts (or other investments) with respect to which a Selling Firm receives lower levels of or no additional compensation. You may wish to take such payment arrangements into account when considering and evaluating any recommendation relating to the contracts.

**Compensation Paid to Other Parties.** Depending on the particular selling arrangements, there may be others whom LFD compensates for the distribution activities. For example, LFD may compensate certain "wholesalers", who control access to certain selling offices, for access to those offices or for referrals, and that compensation may be separate from the compensation paid for sales of the contracts. LFD may compensate marketing organizations, associations, brokers or consultants which provide marketing assistance and other services to broker-dealers who distribute the contracts, and which may be affiliated with those broker-dealers. Commissions and other incentives or payments described above are not charged directly to Contractowners. All compensation is paid from our resources, which include fees and charges imposed on your Contract.

We pay an education and support fee to First Trust Portfolios L.P. (First Trust) for their educational and sales support in connection with the First Trust Capital Strength Methodology contained within the Capital Strength Net Fee Index<sup>SM</sup>. This fee is an annual fee of 0.15% of the average daily value of the amount invested in the Capital Strength Indexed Accounts. First Trust will pay Lincoln an annual rate of 0.05% of the average daily value of the amount invested in the Capital Strength Indexed Accounts to compensate Lincoln for the expenses it incurs in assisting First Trust as it provides this education and support. These payments are not charged directly to Contractowners, but are paid from our resources.

We pay a licensing fee to FTIS in the amount of 0.045%, and we pay an education and support fee in the amount of 0.150% to First Trust Portfolios L.P. in connection with the First Trust American Leadership Index. These fees are based on the average monthly value of the amount invested in the First Trust American Leadership Indexed Accounts. These payments are not charged directly to Contractowners but are paid from our resources.

**Contractowner Questions** 

The obligations to purchasers under the contracts are those of Lincoln New York. This prospectus provides a general description of the material features of the Contract. Contracts, endorsements and riders may vary as required by state law. Questions about your Contract should be directed to us at 1-877-737-6872.

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**Federal Tax Matters** 

**Introduction** 

The Federal income tax treatment of the Contract is complex and sometimes uncertain. The Federal income tax rules may vary with your particular circumstances. This discussion does not include all the Federal income tax rules that may affect you and your Contract. This discussion also does not address other Federal tax consequences (including consequences of sales to foreign individuals or entities), or state or local tax consequences, associated with the Contract. As a result, you should always consult a tax advisor about the application of tax rules found in the Internal Revenue Code ("Code"), Treasury Regulations and applicable IRS guidance to your individual situation.

**Nonqualified Annuities** 

This part of the discussion describes some of the Federal income tax rules applicable to nonqualified annuities. A nonqualified annuity is a contract not issued in connection with a qualified retirement plan, such as an IRA or a section 403(b) plan, receiving special tax treatment under the Code. We may not offer nonqualified annuities for all of our annuity products.

**Tax Deferral On Earnings** 

Under the Code, you are generally not subject to tax on any increase in your Contract Value until you receive a contract distribution. However, for this general rule to apply, certain requirements must be satisfied:

● An individual must own the Contract (or the Code must treat the Contract as owned by an individual).

● Your right to choose particular investments for a Contract must be limited.

● The Annuity Commencement Date must not occur near the end of the Annuitant's life expectancy.

**Contracts Not Owned By An Individual** 

If a Contract is owned by an entity (rather than an individual) the Code generally does not treat it as an annuity contract for Federal income tax purposes. This means that the entity owning the Contract pays tax currently on the excess of the Contract Value over the investment in the Contract. Examples of contracts where the owner pays current tax on the Contract's earnings are contracts issued to a corporation or a trust. Some exceptions to the rule are:

● Contracts in which the named owner is a trust or other entity that holds the Contract as an agent for an individual; however, this exception does not apply in the case of any employer that owns a contract to provide deferred compensation for its employees;

● Immediate annuity contracts, purchased with a single premium, when the annuity starting date is no later than a year from purchase and substantially equal periodic payments are made, not less frequently than annually, during the Annuity Payout period;

● Contracts acquired by an estate of a decedent;

● Certain qualified contracts;

● Contracts purchased by employers upon the termination of certain qualified plans; and

● Certain contracts used in connection with structured settlement agreements.

**Restrictions** 

The Code limits your right to choose particular investments for the Contract. Because the IRS has issued little guidance specifying those limits, the limits are uncertain. We do not know what limits may be set by the IRS in any guidance that it may issue and whether any such limits will apply to existing contracts.

**Loss Of Interest Deduction** 

After June 8, 1997, if a Contract is issued to a taxpayer that is not an individual, or if a Contract is held for the benefit of an entity, the entity may lose a portion of its deduction for otherwise deductible interest expenses. However, this rule does not apply to a Contract owned by an entity engaged in a trade or business that covers the life of one individual who is either (i) a 20% Owner of the entity, or (ii) an officer, director, or employee of the trade or business, at the time first covered by the Contract. This rule also does not apply to a Contract owned by an entity engaged in a trade or business that covers the joint lives of the 20% Owner or the entity and the Owner's spouse at the time first covered by the Contract.

**Age At Which Annuity Payouts Begin** 

The Code does not expressly identify a particular age by which Annuity Payouts must begin. However, those rules do require that an annuity contract provide for amortization, through Annuity Payouts, of the Contract's Purchase Payment and earnings. As long as annuity payments begin or are scheduled to begin on a date on which the Annuitant's remaining life expectancy is enough to allow for a sufficient Annuity Payout period, the Contract should be treated as an annuity. If the annuity contract is not treated as an annuity, you would be currently taxed on the excess of the Contract Value over the investment in the Contract.

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**Tax Treatment Of Payments** 

We make no guarantees regarding the tax treatment of any Contract or of any transaction involving a Contract. However, the rest of this discussion assumes that your Contract will be treated as an annuity under the Code and that any increase in your Contract Value will not be taxed until there is a distribution from your Contract.

**Taxation Of Withdrawals And Surrenders** 

You will pay tax on withdrawals to the extent your Contract Value exceeds your investment in the Contract. This income (and all other income from your Contract) is considered ordinary income (and does not receive capital gains treatment and is not qualified dividend income). You will pay tax on a surrender to the extent the amount you receive exceeds your investment in the Contract. In certain circumstances, your Purchase Payment and investment in the Contract are reduced by amounts received from your Contract that were not included in income.

**Payment of Investment Advisory Fees**

On August 6, 2019, the IRS issued a private letter ruling (the "PLR") to Lincoln that addressed the treatment of investment advisory fees paid out of the cash value of a non-qualified annuity contract. The PLR concluded that if a Contractowner authorizes payment of investment advisory fees out of the cash value of the non-qualified annuity contract, the payment of those fees will not be treated as a distribution to the Contractowner. In order for this treatment to apply, the investment advisory fees must be determined based on an arms-length transaction between the Contractowner and the financial professional, and cannot exceed an amount equal to an annual rate of 1.50% of the non-qualified annuity contract's cash value. The fees can only compensate the financial professional for investment advice provided to the Contractowner with respect to the non-qualified annuity contract, and cannot compensate the financial professional for any other services. Effective for tax year 2019 and beyond, if you have authorized Lincoln to pay fees from the cash value of your non-qualified annuity Contract directly to your financial professional, Lincoln will not treat the payment of such fees as a distribution from your Contract if all the conditions mentioned above are satisfied.

This PLR only applies to distributions from non-qualified annuity contract; it does not apply to distributions from qualified contracts. Please see the Tax Treatment of Payments section under the Qualified Retirement Plans section below for future information regarding distributions from Qualified Plans.

**Taxation Of Annuity Payouts** 

The Code imposes tax on a portion of each Annuity Payout (at ordinary income tax rates) and treats a portion as a nontaxable return of your investment in the Contract. We will notify you annually of the taxable amount of your Annuity Payout. Once you have recovered the total amount of the investment in the Contract, you will pay tax on the full amount of your Annuity Payouts. If Annuity Payouts end because of the Annuitant's death and before the total amount in the Contract has been distributed, the amount not received will generally be deductible.

**Taxation Of Death Benefits** 

We may distribute amounts from your Contract because of the death of a Contractowner or an Annuitant. The tax treatment of these amounts depends on whether the Contractowner or the Annuitant dies before or after the Annuity Commencement Date.

Death prior to the Annuity Commencement Date:

● If the Beneficiary receives Death Benefits under an Annuity Payout option, they are taxed in the same manner as Annuity Payouts.

● If the Beneficiary does not receive Death Benefits under an Annuity Payout option, they are taxed in the same manner as a withdrawal.

Death after the Annuity Commencement Date:

● If Death Benefits are received in accordance with the existing Annuity Payout option following the death of a Contractowner who is not the Annuitant, they are excludible from income in the same manner as the Annuity Payout prior to the death of the Contractowner.

● If Death Benefits are received in accordance with the existing Annuity Payout option following the death of the Annuitant (whether or not the Annuitant is also the Contractowner), the Death Benefits are excludible from income if they do not exceed the investment in the Contract not yet distributed from the Contract. All Annuity Payouts in excess of the investment in the Contract not previously received are includible in income.

● If Death Benefits are received in a lump sum, the Code imposes tax on the amount of Death Benefits which exceeds the amount of the Purchase Payment not previously received.

**Additional Taxes Payable On Withdrawals, Surrenders, Or Annuity Payouts** 

The Code may impose a 10% additional tax on any distribution from your Contract which you must include in your gross income. The 10% additional tax does not apply if one of several exceptions exists. These exceptions include withdrawals, surrenders, or Annuity Payouts that:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● you receive on or after you reach 59½,

● you receive because you became disabled (as defined in the Code),

● you receive from an immediate annuity,

● a Beneficiary receives on or after your death, or

● you receive as a series of substantially equal periodic payments based on your life or life expectancy (non-natural owners holding as agent for an individual do not qualify).

**Unearned Income Medicare Contribution** 

Congress enacted the "Unearned Income Medicare Contribution" as a part of the Health Care and Education Reconciliation Act of 2010. This tax, which affects individuals whose modified adjusted gross income exceeds certain thresholds, is a 3.8% tax on the lesser of (i) the individual's "unearned income," or (ii) the dollar amount by which the individual's modified adjusted gross income exceeds the applicable threshold. Unearned income includes the taxable portion of distributions that you take from your annuity contract. If you take a distribution from your Contract that may be subject to the tax, we will include a Distribution Code "D" in Box 7 of the Form 1099-R issued to report the distribution. Please consult your tax advisor to determine whether your annuity distributions are subject to this tax.

**Special Rules If You Own More Than One Annuity Contract** 

In certain circumstances, you must combine some or all of the nonqualified annuity contracts you own in order to determine the amount of an Annuity Payout, a surrender, or a withdrawal that you must include in income. For example, if you purchase two or more deferred annuity contracts from the same life insurance company (or its affiliates) during any calendar year, the Code treats all such contracts as one contract. Treating two or more contracts as one contract could affect the amount of a surrender, a withdrawal or an Annuity Payout that you must include in income and the amount that might be subject to the additional tax described previously.

**Loans and Assignments** 

Except for certain qualified contracts, the Code treats any amount received as a loan under your Contract, and any assignment or pledge (or agreement to assign or pledge) of any portion of your Contract Value, as a withdrawal of such amount or portion.

**Gifting A Contract** 

If you transfer ownership of your Contract to a person other than to your spouse (or to your former spouse incident to divorce), and receive a payment less than your Contract's value, you will pay tax on your Contract Value to the extent it exceeds your investment in the Contract not previously received. The new owner's investment in the Contract would then be increased to reflect the amount included in income.

**Charges for Additional Benefits** 

Your Contract automatically includes a basic Death Benefit and may include other optional riders. Certain enhancements to the basic Death Benefit may also be available to you. The cost of the basic Death Benefit and any additional benefit are deducted from your Contract. It is possible that the tax law may treat all or a portion of the Death Benefit and other optional rider charges, if any, as a contract withdrawal.

**Special Considerations for Same-Sex Spouses** 

In 2013, the U.S. Supreme Court held that same-sex spouses who are married under state law are treated as spouses for purposes of federal law. **You are strongly encouraged to consult a tax advisor before electing spousal rights under the Contract.** 

**Qualified Retirement Plans** 

We have designed the contracts for use in connection with certain types of retirement plans that receive favorable treatment under the Code. Contracts issued to or in connection with a qualified retirement plan are called "qualified contracts." We issue contracts for use with various types of qualified retirement plans. The Federal income tax rules applicable to those plans are complex and varied. As a result, this prospectus does not attempt to provide more than general information about the use of the Contract with the various types of qualified retirement plans. Persons planning to use the Contract in connection with a qualified retirement plan should obtain advice from a competent tax advisor.

**Types of Qualified Contracts and Terms of Contracts** 

Qualified retirement plans may include the following:

● Individual Retirement Accounts and Annuities ("Traditional IRAs")

● Roth IRAs

● Traditional IRA that is part of a Simplified Employee Pension Plan ("SEP")

● SIMPLE 401(k) plans (Savings Incentive Matched Plan for Employees)

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● 401(a) / (k) plans (qualified corporate employee pension and profit-sharing plans)

● 403(a) plans (qualified annuity plans)

● 403(b) plans (public school system and tax-exempt organization annuity plans)

● H.R. 10 or Keogh Plans (self-employed individual plans)

● 457(b) plans (deferred compensation plans for state and local governments and tax-exempt organizations)

Our individual variable annuity products are not available for use with any of the foregoing qualified retirement plan accounts, with the exception of Traditional IRA, SEP IRA, and Roth IRA arrangements. We will amend contracts to be used with a qualified retirement plan as generally necessary to conform to the Code's requirements for the type of plan. However, the rights of a person to any qualified retirement plan benefits may be subject to the plan's terms and conditions, regardless of the contract's terms and conditions. In addition, we are not bound by the terms and conditions of qualified retirement plans to the extent such terms and conditions contradict the contract, unless we consent.

**The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019** 

The Setting Every Community Up for Retirement Enhancement (SECURE) Act (the "SECURE Act") was enacted on December 20, 2019. The SECURE Act made a number of significant changes to the rules that apply to qualified retirement plans and IRA's, including the following:

● Eliminated the age 70½ limit for making contributions to an IRA. Beginning in 2020, an IRA owner can make contributions to his or her IRA at any age.

● Changed the required minimum distribution rules that apply after the death of a participant or IRA owner.

● Created the "Qualified Birth or Adoption" exception to the 10% additional tax on early distributions.

**The Setting Every Community Up for Retirement Enhancement 2.0 (SECURE 2.0) Act of 2022** 

The Setting Every Community Up for Retirement Enhancement (SECURE 2.0) Act (the "SECURE 2.0 Act") was enacted on December 29, 2022. The SECURE 2.0 Act made specific changes to retirement plans and IRA's, including:

● Increased the required beginning date measuring age from age 72 to 73 for any participant or IRA owner who did not attain age 72 prior to January 1, 2023. As a result, required minimum distributions are generally required to begin by April 1<sup>st</sup> of the year following the year in which the participant or IRA owner reaches age 73.

● Further increased the required beginning date measuring age to 75 by 2033.

● Created exception to the 10% additional tax for distributions for domestic violence and emergencies.

● Added provisions that permit rollover of 529 plan amounts to a Roth IRA for the beneficiary, within certain limits.

**Tax Treatment of Qualified Contracts** 

The Federal income tax rules applicable to qualified retirement plans and qualified contracts vary with the type of plan and contract. For example:

● Federal tax rules limit the amount of the Purchase Payment or contributions that can be made, and the tax deduction or exclusion that may be allowed for the contributions. These limits vary depending on the type of qualified retirement plan and the participant's specific circumstances (*e.g.*, the participant's compensation).

● Minimum annual distributions are required under some qualified retirement plans once you reach age 73 or retire, if later as described below.

● Loans are allowed under certain types of qualified retirement plans, but Federal income tax rules prohibit loans under other types of qualified retirement plans. For example, Federal income tax rules permit loans under some section 403(b) plans, but prohibit loans under Traditional and Roth IRAs. If allowed, loans are subject to a variety of limitations, including restrictions as to the loan amount, the loan's duration, the rate of interest, and the manner of repayment. Your Contract or plan may not permit loans.

Please note that qualified retirement plans such as 403(b) plans, 401(k) plans and IRAs generally defer taxation of contributions and earnings until distribution. As such, an annuity does not provide any additional tax deferral benefit beyond the qualified retirement plan itself.

**Tax Treatment of Payments** 

The Federal income tax rules generally include distributions from a qualified contract in the participant's income as ordinary income. These taxable distributions will include contributions that were deductible or excludible from income. Thus, under many qualified contracts, the total amount received is included in income since a deduction or exclusion from income was taken for contributions to the contract. There are exceptions. For example, you do not include amounts received from a Roth IRA in income if certain conditions are satisfied.

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**Required Minimum Distributions** 

Under most qualified plans, you must begin receiving payments from the Contract in certain minimum amounts by your "required beginning date". Prior to the SECURE 2.0 Act, the required beginning date was April 1 of the year following the year you attain age 72 or retired. If you did not attain age 72 prior to January 1, 2023, then your required beginning date will be April 1<sup>st</sup> of the year following the year in which you attain age 73 or retire. If you own a traditional IRA, your required beginning date under prior law was April 1<sup>st</sup> of the year following the year in which you attained age 72. If you did not attain age 72 prior to January 1, 2023, then your required beginning date will be April 1<sup>st</sup> of the year following the year in which you attain age 73. If you own a Roth IRA, you are not required to receive minimum distributions from your Roth IRA during your life.

Failure to comply with the minimum distribution rules applicable to certain qualified plans, such as Traditional IRAs, will result in the imposition of an excise tax. This excise tax is applied to the amount by which a required minimum distribution exceeds the actual distribution from the qualified plan.

Treasury regulations applicable to required minimum distributions include a rule that may impact the distribution method you have chosen and the amount of your distributions. Under these regulations, the presence of an enhanced Death Benefit, or other benefit which could provide additional value to your Contract, may require you to take additional distributions. An enhanced Death Benefit is any Death Benefit that has the potential to pay more than the Contract Value or a return of investment in the Contract. Annuity contracts inside Custodial or Trusteed IRAs will also be subject to these regulations. Please contact your tax advisor regarding any tax ramifications.

**Additional Tax on Early Distributions from Qualified Retirement Plans** 

The Code may impose a 10% additional tax on an early distribution from a qualified contract that must be included in income. The Code does not impose the additional tax if one of several exceptions applies. The exceptions vary depending on the type of qualified contract you purchase. For example, in the case of an IRA, the 10% additional tax will not apply to any of the following withdrawals, surrenders, or Annuity Payouts:

● Distribution received on or after the Annuitant reaches 59½,

● Distribution received on or after the Annuitant's death or because of the Annuitant's disability (as defined in the Code),

● Distribution received as a series of substantially equal periodic payments based on the Annuitant's life (or life expectancy),

● Distribution received as reimbursement for certain amounts paid for medical care, or

● Distribution received for a "qualified birth or adoption" event.

These exceptions, as well as certain others not described here, generally apply to taxable distributions from other qualified retirement plans. However, the specific requirements of the exception may vary.

**Unearned Income Medicare Contribution** 

Congress enacted the "Unearned Income Medicare Contribution" as a part of the Health Care and Education Reconciliation Act of 2010. This tax affects individuals whose modified adjusted gross income exceeds certain thresholds, is a 3.8% tax on the lesser of (i) the individual's "unearned income," or (ii) the dollar amount by which the individual's modified adjusted gross income exceeds the applicable threshold. Distributions that you take from your Contract are not included in the calculation of unearned income because your Contract is a qualified plan contract. However, the amount of any such distribution is included in determining whether you exceed the modified adjusted gross income threshold. Please consult your tax advisor to determine whether your annuity distributions are subject to this tax.

**Transfers and Direct Rollovers** 

As a result of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), you may be able to move funds between different types of qualified plans, such as 403(b) and 457(b) governmental plans, by means of a rollover or transfer. You may be able to rollover or transfer amounts between qualified plans and traditional IRAs. These rules do not apply to Roth IRAs and 457(b) non-governmental tax-exempt plans. There are special rules that apply to rollovers, direct rollovers and transfers (including rollovers or transfers of after-tax amounts). If the applicable rules are not followed, you may incur adverse Federal income tax consequences, including paying taxes which you might not otherwise have had to pay. Before we send a rollover distribution, we will provide a notice explaining tax withholding requirements (see Federal Income Tax Withholding). We are not required to send you such notice for your IRA. You should always consult your tax advisor before you move or attempt to move any funds.

The IRS issued Announcement 2014-32 confirming its intent to apply the one-rollover-per-year limitation of 408(d)(3)(B) on an aggregate basis to all IRAs that an individual owns. This means that an individual cannot make a tax-free IRA-to-IRA rollover if he or she has made such a rollover involving any of the individual's IRAs in the current tax year. If an intended rollover does not qualify for tax-free rollover treatment, contributions to your IRA may constitute excess contributions that may exceed contribution limits. This one-rollover-per-year limitation does not apply to direct trustee-to-trustee transfers.

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**Direct Conversions and Recharacterizations** 

The Pension Protection Act of 2006 (PPA) permits direct conversions from certain qualified, retirement, 403(b) or 457(b) plans to Roth IRAs (effective for distributions after 2007). You are also permitted to recharacterize your traditional IRA contribution as a Roth IRA contribution, and to recharacterize your Roth IRA contribution as a traditional IRA contribution. The deadline for the recharacterization is the due date (including extensions) for your individual income tax return for the year in which the contribution was made. Upon recharacterization, you are treated as having made the contribution originally to the second IRA account. The recharacterization does not count toward the one-rollover-per-year limitation described above.

Effective for tax years beginning after December 31, 2017, pursuant to the Tax Cuts and Jobs Act (Pub. L. No. 115-97), recharacterizations are no longer allowed in the case of a conversion from a non-Roth account or annuity to a Roth IRA. This limitation applies to conversions made from pre-tax accounts under an IRA, qualified retirement plan, 403(b) plan, or 457(b) plan. Roth IRA conversions made in 2017 may be recharacterized as a contribution to a traditional IRA if the recharacterization is completed by October 15, 2018.

There are special rules that apply to conversions and recharacterizations, and if they are not followed, you may incur adverse Federal income tax consequences. You should consult your tax advisor before completing a conversion or recharacterization.

**Death Benefit and IRAs** 

Pursuant to Treasury regulations, IRAs may not invest in life insurance contracts. We do not believe that these regulations prohibit the Death Benefit from being provided under the Contract when we issue the Contract as a Traditional or Roth IRA. However, the law is unclear and it is possible that the presence of the Death Benefit under a Contract issued as a Traditional or Roth IRA could result in increased taxes to you. Certain Death Benefit options may not be available for all of our products.

**Federal Income Tax Withholding** 

We will withhold and remit to the IRS a part of the taxable portion of each distribution made under a Contract unless you notify us in writing prior to the distribution that tax is not to be withheld. In certain circumstances, Federal income tax rules may require us to withhold tax. At the time a withdrawal, surrender, or Annuity Payout is requested, we will give you an explanation of the withholding requirements.

Certain payments from your Contract may be considered eligible rollover distributions (even if such payments are not being rolled over). Such distributions may be subject to special tax withholding requirements. The Federal income tax withholding rules require that we withhold 20% of the eligible rollover distribution from the payment amount, unless you elect to have the amount directly transferred to certain qualified plans or contracts. The IRS requires that tax be withheld, even if you have requested otherwise. Such tax withholding requirements are generally applicable to 401(a), 403(a) or (b), HR 10, and 457(b) governmental plans and contracts used in connection with these types of plans.

**Changes in the Law** 

The above discussion is based on the Code, related regulations, and interpretations existing on the date of this prospectus. However, Congress, the IRS, and the courts may modify these authorities, sometimes retroactively.

**Additional Information**

**Voting Rights** 

There are no voting rights associated with the Indexed Accounts.

**Return Privilege** 

Within the free-look period after you receive the Contract, you may cancel it for any reason by sending us a letter of instruction, indicating your intent to exercise the free-look provision. A Contract canceled under this provision will be void. Except as explained in the following paragraph, we will return the greater of a full refund of the amount you paid with your application or your total Contract Value. **A purchaser who participates in the Indexed Accounts risks the loss of principal as it will be based on Interim Value.** 

IRA purchasers will receive the greater of Purchase Payments or Contract Value as of the Valuation Date on which we receive the cancellation request.

If you cancel this Contract within the free-look period, we reserve the right not to accept another application for this Contract for a period of six months.

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**State Regulation** 

As a life insurance company organized and operated under New York law, we are subject to provisions governing life insurers and to regulation by the New York Commissioner of Insurance. Our books and accounts are subject to review and examination by the New York State Department of Financial Services at all times. A full examination of our operations is conducted by that Department at least every five years.

**Reliance On Rule 12h-7** 

We rely on the exemption from the reporting requirements of Section 15(d) of the Securities Exchange Act of 1934, as amended (the "1934 Act"), provided by Rule 12h-7 under the 1934 Act with respect to registered non-variable insurance contracts (such as the Contract) that we issue.

**Electronic Delivery** 

You may elect to receive your Contract, prospectus, prospectus supplements, quarterly statements, and other notices electronically over the Internet, if you have an e-mail account and access to an Internet browser. Once you select eDelivery, via the Internet Service Center, all documents available in electronic format will no longer be sent to you in hard copy. You will receive an e-mail notification when the documents become available online. It is your responsibility to provide us with your current e-mail address. You can resume paper mailings at any time without cost, by updating your profile at the Internet Service Center, or contacting us. To learn more about this service, please log on to www.LincolnFinancial.com, select service centers and continue on through the Internet Service Center.

**Legal Proceedings** 

In the ordinary course of its business and otherwise, the Company and its subsidiaries or its separate accounts and Principal Underwriter may become or are involved in various pending or threatened regulatory or legal proceedings, including purported class actions, arising from the conduct of its business. In some instances, the proceedings include claims for unspecified or substantial punitive damages and similar types of relief in addition to amounts for alleged contractual liability or requests for equitable relief.

After consultation with legal counsel and a review of available facts, it is management's opinion that the proceedings, after consideration of any reserves and rights to indemnification, ultimately will be resolved without any material adverse effect on the consolidated financial position of the Company and its subsidiaries, or the financial position of its separate accounts or Principal Underwriter. However, given the large and indeterminate amounts sought in certain of these proceedings and the inherent difficulty in predicting the outcome of such proceedings, it is reasonably possible that an adverse outcome in certain matters could be material to the Company's operating results for any particular reporting period.

Please refer to the Statement of Additional Information for possible additional information regarding legal proceedings.

**Financial Statements** 

The December 31, 2025 financial statements of Lincoln New York are included in the Statement of Additional Information (SAI). They should be considered only as they relate to our ability to meet our obligations under the Contract. Instructions on how to obtain the Statement of Additional Information are included on the back cover page.

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**Appendix A — Investment Options Available Under The Contract**

The following is a list of Indexed Accounts currently available under the Contract. We may change the features of the Indexed Accounts listed below (including the Index and the current limits on Index gains and losses), offer new Indexed Accounts, and terminate existing Indexed Accounts. We will provide you with written notice before making any changes other than changes to the current limits on Index gains. Information about current limits on Index gains is available at www.lfg.com/llarates.

**Note: If amounts are removed from an Indexed Account before the end of its Indexed Term, we will apply a Contract Adjustment based on Interim Value. This may result in significant reduction in your Contract Value that could exceed any protection from Index loss that would be in place if you held the Indexed Segment until the end of the Indexed Term. See Indexed Accounts – Interim Value in the prospectus for additional details.** 

**Benefits availability may vary by state of issue or selling broker-dealer. All variations, if material, will be disclosed in the prospectus.** 

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index** | **Type of Index** | **Term** <br> **Duration**<br>| **Index Crediting**<br> **Methodology**<br>| **Protection Method and** <br> **Amount of Protection** | **Protection Method and** <br> **Amount of Protection** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup>  | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup>  |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to Point | 15% | Protection Level | 4.5% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 20% | Protection Level | 4.0% | Performance <br> Cap<br>|  | N/A |
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 15% | Protection Level | 4.5% | Performance <br> Cap<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 15% | Protection Level | 4.5% | Performance <br> Cap<br>|  | N/A |
| Nasdaq-100 Index<sup>®</sup> <sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 25% | Protection Level | 21.0% | Performance <br> Cap<br>| 3.5% | Performance <br> Cap<br>|
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| Capital Strength Net Fee <br> Index<sup>SM 1,</sup> 2<br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 25% | Protection Level | 21.0% | Performance <br> Cap<br>| 3.5% | Performance <br> Cap<br>|
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap <br>|

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index** | **Type of Index** | **Term** <br> **Duration**<br>| **Index Crediting**<br> **Methodology**<br>| **Protection Method and** <br> **Amount of Protection** | **Protection Method and** <br> **Amount of Protection** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup> | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup> |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 15% | Protection Level | 4.5% | Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 20% | Protection Level | 4.0% | Performance <br> Trigger Rate<br>|  | N/A |
| Nasdaq-100 Index<sup>®</sup> <sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Dual Plus | 30.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Annual Lock | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |

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<sup>1</sup> The Index is a "price return Index," not a "total return Index," and therefore does not reflect dividends paid on the securities composing the Index. This will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

<sup>2</sup> The Index deduct fees and costs when calculating Index performance which will reduce the Index return and cause each Index to underperform a direct investment in the securities composing the Index.

Each Indexed Account's limit on Index losses is guaranteed not to change for as long as that Indexed Account remains available under the Contract. **We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%.** However, we reserve the right to add and remove Indexed Accounts and to offer Indexed Accounts with different Crediting Methods or Protection Methods. As such, the limits on Index loss offered under the Contract may change from one Indexed Term to the next. We do not guarantee that the Contract will always offer Indexed Accounts that limit Index losses. See Indexed Accounts in the prospectus for additional details.

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**Appendix B – Index Disclosures**

**S&P 500**<sup>®</sup> **Price Return Index** 

The S&P 500<sup>®</sup> Price Return Index is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI"), and has been licensed for use by The Lincoln National Life Insurance Company ("Lincoln"). Standard & Poor's<sup>®</sup>, S&P<sup>®</sup>, and S&P 500<sup>®</sup> are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Lincoln. It is not possible to invest directly in an index. Lincoln's Product(s) are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of Lincoln's Product(s) or any member of the public regarding the advisability of investing in securities generally or in Lincoln's Product(s) particularly or the ability of the S&P 500<sup>®</sup> Price Return Index to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices' only relationship to Lincoln with respect to the S&P 500<sup>®</sup> Price Return Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500<sup>®</sup> Price Return Index is determined, composed and calculated by S&P Dow Jones Indices without regard to Lincoln or Lincoln's Product(s). S&P Dow Jones Indices have no obligation to take the needs of Lincoln or the owners of Lincoln's Product(s) into consideration in determining, composing or calculating the S&P 500<sup>®</sup> Price Return Index. S&P Dow Jones Indices are not responsible for and have not participated in the determination of the prices, and amount of Lincoln's Product(s) or the timing of the issuance or sale of Lincoln's Product(s) or in the determination or calculation of the equation by which Lincoln's Product(s) is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of Lincoln's Product(s). There is no assurance that investment products based on the S&P 500<sup>®</sup> Price Return Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment or tax advisor. A tax advisor should be consulted to evaluate the impact of any tax-exempt securities on portfolios and the tax consequences of making any particular investment decision. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500<sup>®</sup> PRICE RETURN INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY LINCOLN, OWNERS OF LINCOLN'S PRODUCTS(s), OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500<sup>®</sup> PRICE RETURN INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND LINCOLN, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

**Russell 2000**<sup>®</sup> **Price Return Index** 

The Russell 2000<sup>®</sup> Price Return Index (the "Index") is a trademark of Frank Russell Company ("Russell") and has been licensed for use by The Lincoln National Life Insurance Company ("Lincoln"). Lincoln products are not in any way sponsored, endorsed, sold or promoted by Russell or the London Stock Exchange Group companies ("LSEG") (together the "Licensor Parties") and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the Index (upon which Lincoln's products are based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with Lincoln products. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to Lincoln or to its clients. The Index is calculated by Russell or its agent. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein.

**Capital Strength Net Fee Index**<sup>SM</sup> 

The Product(s) is not sponsored, endorsed, sold or promoted by NASDAQ, Inc. or its affiliates (NASDAQ, with its affiliates, are referred to as the "Corporations"). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Product(s). The Corporations make no representation or warranty, express or implied to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly, or the ability of the Capital Strength Net Fee Index to track general stock market performance. The Corporations' only relationship to The Lincoln National Life Insurance Company ("Licensee") is in the licensing of the Nasdaq<sup>®</sup> and certain trade

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names of the Corporations and the use of the Capital Strength Net Fee Index which is determined, composed and calculated by NASDAQ without regard to Licensee or the Product(s). NASDAQ has no obligation to take the needs of the Licensee or the owners of the Product(s) into consideration in determining, composing or calculating the Capital Strength Net Fee Index. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. The Corporations have no liability in connection with the administration, marketing or trading of the Product(s).

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF THE CAPITAL STRENGTH NET FEE INDEX OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE PRODUCT(S), OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE CAPITAL STRENGTH NET FEE INDEX OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE CAPITAL STRENGTH NET FEE INDEX<sup>®</sup> OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

**First Trust American Leadership Index**<sup>TM</sup> 

The First Trust American Leadership Index<sup>TM</sup> ("FTIS Index") is a product of and owned by FT Indexing Solutions LLC ("FTIS"). FIRST TRUST<sup>®</sup> and FIRST TRUST AMERICAN LEADERSHIP INDEX<sup>TM</sup> are trademarks of First Trust Portfolios L.P. (collectively, with FTIS and their respective affiliates, "First Trust"). The foregoing index and trademarks have been licensed for use for certain purposes by Licensee in connection with the Product.

The Dow Jones Internet Composite Index<sup>TM</sup> ("Dow Index") is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by FTIS and Licensee. S&P<sup>®</sup> is a trademark of Standard & Poor's Financial Service LLC. DOW JONES<sup>®</sup> and DOW JONES INTERNET COMPOSITE INDEX are trademarks of Dow Jones Trademark Holdings LLC ("Dow Jones"). The foregoing trademarks have been licensed for use by SPDJI and have been sublicensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and the Product.

The Nasdaq U.S. Rising Dividend Achievers Index<sup>TM</sup> and Nasdaq Technology Dividend Index<sup>TM</sup> are products of Nasdaq, Inc. (which with its affiliates is referred to as the "Nasdaq"). NASDAQ<sup>®</sup>, NASDAQ U.S. RISING DIVIDEND ACHIEVERS INDEX, and NASDAQ TECHNOLOGY DIVIDEND INDEX are trademarks of Nasdaq. The foregoing indices (collectively, the "Nasdaq Indices") and trademarks have been licensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and the Product.

The Nasdaq Riskalyze U.S. Large Cap Select Dividend Index<sup>TM</sup> ("Riskalyze Index") is a product of Riskalyze, Inc. ("Riskalyze"). RISKALYZE<sup>®</sup> and NASDAQ RISKALYZE U.S. LARGE CAP SELECT DIVIDEND INDEX are trademarks of Riskalyze. NASDAQ<sup>®</sup> is a trademark of Nasdaq, Inc. The foregoing index and trademarks have been licensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and the Product.

The Product is not issued, sponsored, endorsed, sold, recommended, or promoted by First Trust, SPDJI, Dow Jones, Nasdaq, Riskalyze, or their respective affiliates (collectively, the "Companies"). The Companies have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to the Product. The Companies make no representation or warranty, express or implied, to the owners of any product based on the FTIS Index, Dow Index, Nasdaq Indices, or Riskalyze Index, or to any member of the public regarding the advisability of investing in securities generally or in products based on the FTIS Index, Dow Index, Nasdaq Indices, or Riskalyze Index particularly, or the ability of the FTIS Index, Dow Index, Nasdaq Indices, or Riskalyze Index to track general stock market performance. The Companies' only relationship to Licensee is in the licensing of the certain trademarks, trade names, and service marks and the use of the FTIS Index, Dow lndex, Nasdaq Indices, and Riskalyze Indices, which are determined, composed and calculated without regard to Licensee or the Product. The Companies have no obligation to take the needs of Licensee, or the owners of the Product, or the sponsors or owners of products based on the FTIS Index, Dow Index, Nasdaq Indices or Riskalyze Index into consideration when determining, composing, or calculating the FTIS Index, Dow lndex, Nasdaq Indices, and Riskalyze Index. The Companies are not responsible for and have not participated in the determination or calculation of the Product. There is no assurances from the Companies that products based on the FTIS Index, Dow lndex, Nasdaq Indices, or Riskalyze Index will accurately track index performance or provide positive investment returns. The Companies are not investment advisors. Inclusion of a security or financial instrument within an index is not a recommendation by the Companies to buy, sell, or hold such security or financial instrument, nor is it considered to be investment advice.

THE COMPANIES DO NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS, COMPLETENESS, AND/OR UNINTERRUPTED CALCULATION OF THE PRODUCT, FTIS INDEX, DOW INDEX, NASDAQ INDICES, RISKALYZE INDEX, OR ANY DATA INCLUDED THEREIN OR ANY COMMUNICATION WITH RESPECT THERETO, INCLUDING, ORAL, WRITTEN, OR ELECTRONIC COMMUNICATIONS. THE COMPANIES SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS IN THE PRODUCT, FTIS INDEX, DOW INDEX, NASDAQ INDICES, OR RISKALYZE INDEX. THE COMPANIES MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE RESULTS TO BE OBTAINED BY OWNERS OF THE PRODUCT OR OF PRODUCTS BASED ON THE FTIS INDEX, DOW INDEX, NASDAQ INDICES, OR RISKALYZE INDEX, OR BY ANY OTHER PERSON OR ENTITY FROM THE USE OF THE FTIS INDEX, DOW

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INDEX, NASDAQ INDICES, OR RISKALYZE INDEX, OR ANY DATA INCLUDED THEREIN. THE COMPANIES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE PRODUCT, FTIS INDEX, DOW INDEX, NASDAQ INDICES, RISKALYZE INDEX, OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE COMPANIES BE SUBJECT TO ANY DAMAGES OR HAVE ANY LIABILITY FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES OR LOSSES, INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME, OR GOODWILL, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN LICENSEE AND THE COMPANIES.

**Nasdaq-100 Index**<sup>®</sup> 

The Product(s) is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its affiliates (Nasdaq, with its affiliates, are referred to as the "Corporations"). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Product(s). The Corporations make no representation or warranty, express or implied to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly, or the ability of the Nasdaq-100 Index<sup>®</sup>, to track general stock market performance. The Corporations' only relationship to The Lincoln National Life Insurance Company ("Licensee") is in the licensing of the Nasdaq<sup>®</sup>, Nasdaq-100 Index<sup>®</sup>, and certain trade names of the Corporations and the use of the Nasdaq-100 Index<sup>®</sup> which is determined, composed and calculated by Nasdaq without regard to Licensee or the Product(s). Nasdaq has no obligation to take the needs of the Licensee or the owners of the Product(s) into consideration in determining, composing or calculating the Nasdaq-100 Index<sup>®</sup>. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. The Corporations have no liability in connection with the administration, marketing or trading of the Product(s).

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF NASDAQ-100 INDEX<sup>®</sup> OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE PRODUCT(S), OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE NASDAQ-100 INDEX<sup>®</sup> OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE NASDAQ-100 INDEX<sup>®</sup> OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

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The SAI includes additional information about the Contract and Lincoln New York, and is incorporated by reference in this prospectus. The SAI is dated the same date as this prospectus. We will provide the SAI without charge upon request. You may obtain a free copy of the SAI and submit inquiries by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Mailing: Lincoln Life & Annuity Company of New York, PO Box 2348, Fort Wayne, IN 46801-2348

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Visiting: www.lfg.com/VAprospectus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Emailing: CustServSupportTeam@lfg.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Calling: 1-877-737-6872

You may also obtain reports and other information about the Company on the SEC's website at www.sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov. The SEC file numbers and the Contract's contract identifier number are listed below.

**SEC File No.:**

333-283685

**EDGAR Contract Identifier:**

C000257790

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SAI 2

**STATEMENT OF ADDITIONAL INFORMATION (SAI)**

**Dated May 8, 2026**

**Relating to Prospectus Dated May 8, 2026 for**

***Lincoln Level Advantage* 2**<sup>®</sup> **Advisory**

**Lincoln Life & Annuity Company of New York**

The SAI provides you with additional information about Lincoln New York and your Contract. It is not a prospectus.

A copy of the product prospectus dated May 8, 2026, may be obtained without a charge by writing to the Servicing Office: Lincoln New York Customer Service, Lincoln Life & Annuity Company of New York, PO Box 2348, Fort Wayne, IN 46801-2348, by calling: 1-877-737-6872, or by emailing: CustServSupportTeam@lfg.com and requesting a copy of the *Lincoln Level Advantage* 2<sup>®</sup> Advisory product prospectus.

****TABLE OF CONTENTS** OF THE SAI**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Contents** | **Page** |
| [Special Terms](#xx_b51cca71-13b4-4e44-9f43-f09a5415dab3_1) | &nbsp;&nbsp;&nbsp; B-2 |
| [General Information and History](#xx_b51cca71-13b4-4e44-9f43-f09a5415dab3_1) | &nbsp;&nbsp;&nbsp; B-2 |
| [Lincoln Life & Annuity Company of New York](#xx_b51cca71-13b4-4e44-9f43-f09a5415dab3_1) | &nbsp;&nbsp;&nbsp; B-2 |
| [Non-Principal Risks of Investing In The](#xx_b51cca71-13b4-4e44-9f43-f09a5415dab3_1)<br> [Contract](#xx_b51cca71-13b4-4e44-9f43-f09a5415dab3_1)<br>| &nbsp;&nbsp;&nbsp; B-2 |
| [Services](#xx_b51cca71-13b4-4e44-9f43-f09a5415dab3_2) | &nbsp;&nbsp;&nbsp; B-3 |
| [Purchase of Securities Being Offered](#xx_b51cca71-13b4-4e44-9f43-f09a5415dab3_2) | &nbsp;&nbsp;&nbsp; B-3 |

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| | |
|:---|:---|
| **Contents** | **Page** |
| [Contract Adjustment – Interim Value](#xx_b51cca71-13b4-4e44-9f43-f09a5415dab3_2)<br> [Calculation](#xx_b51cca71-13b4-4e44-9f43-f09a5415dab3_2)<br>| &nbsp;&nbsp;&nbsp; B-3 |
| [Principal Underwriter](#xx_b51cca71-13b4-4e44-9f43-f09a5415dab3_7) | &nbsp;&nbsp;&nbsp; B-8 |
| [Contract Information](#xx_b51cca71-13b4-4e44-9f43-f09a5415dab3_7) | &nbsp;&nbsp;&nbsp; B-8 |
| [Additional Services](#xx_b51cca71-13b4-4e44-9f43-f09a5415dab3_7) | &nbsp;&nbsp;&nbsp; B-8 |
| [Financial Statements](#xx_b51cca71-13b4-4e44-9f43-f09a5415dab3_7) | &nbsp;&nbsp;&nbsp; B-8 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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**Special Terms** 

The special terms used in this SAI are the ones defined in the prospectus.

**General Information and History** 

**Lincoln Life & Annuity Company of New York** 

Lincoln Life & Annuity Company of New York (Lincoln New York or Company) is a stock life insurance company chartered in 1897 and now domiciled in New York. Lincoln New York is a subsidiary of The Lincoln National Life Insurance Company (Lincoln Life). Lincoln Life is an Indiana-domiciled insurance company, engaged primarily in the direct issuance of life insurance contracts and annuities. Lincoln Life is wholly owned by Lincoln National Corporation (LNC), a publicly held insurance and financial services holding company incorporated in Indiana. Lincoln New York is obligated to pay all amounts promised to Contractowners under the contracts.

***Our Financial Condition.*** Any amounts that we may pay under the Contract are subject to our financial strength and claims-paying ability and our long-term ability to make such payments. We issue other types of insurance policies and financial products in addition to the Contract. We also pay our obligations under these products from our assets in the general account. Certain assets backing the Contracts are held in an uninsulated, non-unitized separate account (the SA). The assets of the SA and the general account are subject to the general liabilities of the Company and, therefore, to the Company's general creditors. In the event of an insolvency or receivership, payments we make from our general account to satisfy claims under the Contract would generally receive the same priority as our other Contractowner obligations.

The general account is subject to regulation and supervision by the New York State Department of Financial Services. The laws and regulations applicable to us regulate the investments we can make with assets held in the SA and our general account. In general, those laws and regulations determine the amount and type of investments which we can make with general account assets.

In addition, state insurance regulations require that insurance companies calculate and establish on their financial statements, a specified amount of reserves in order to meet the contractual obligations to pay the claims of our Contractowners. In order to meet our claims-paying obligations, we regularly monitor our reserves to ensure we hold sufficient amounts to cover actual or expected contract and claims payments. However, it is important to note that there is no guarantee that we will always be able to meet our claims paying obligations, and that there are risks to purchasing any insurance product.

State insurance regulators also require insurance companies to maintain a minimum amount of capital in excess of liabilities, which acts as a cushion in the event that the insurer suffers a financial impairment, based on the inherent risks in the insurer's operations. These risks include those associated with losses that we may incur as the result of defaults on the payment of interest or principal on assets held in our general account, which include bonds, mortgages, general real estate investments, and stocks, as well as the loss in value of these investments resulting from a loss in their market value.

***How to Obtain More Information.*** We encourage both existing and prospective Contractowners to read and understand our financial statements. We prepare our financial statements on both a statutory basis and according to Generally Accepted Accounting Principles (GAAP). Our audited GAAP financial statements, are incorporated by reference into this SAI. See Financial Statements below. You may obtain our audited statutory financial statements and any unaudited statutory financial statements that may be available by visiting our website at www.LincolnFinancial.com.

You also will find on our website information on ratings assigned to us by one or more independent rating organizations. These ratings are opinions of an operating insurance company's financial capacity to meet the obligations of its insurance and annuity contracts based on its financial strength and/or claims-paying ability.

**Non-Principal Risks of Investing In The Contract** 

**Opportunity Cost.** Principal amounts committed to an annuity contract are only available to choose from investment options available in the Contract, potentially causing you an opportunity cost.

**Dying early.** If you die earlier than expected, your designated beneficiary may not receive the full benefit of the future payments.

**Divorce.** If you get divorced, you could forfeit some or all of the value of your annuity to your former spouse.

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**Services** 

**Independent Registered Public Accounting Firm** 

Ernst & Young LLP, independent registered public accounting firm, One Commerce Square, 2005 Market Street, Suite 700, Philadelphia, Pennsylvania, 19103, has audited the financial statements of Lincoln Life & Annuity Company of New York as of December 31, 2025 and 2024, and for each of the three years in the period ended December 31, 2025, as set forth in their report, which is included in this SAI and Registration Statement. The aforementioned financial statements are included herein in reliance on Ernst & Young LLP's report, given on their authority as experts in accounting and auditing.

**Purchase of Securities Being Offered** 

The contracts are offered to the public through licensed insurance agents who specialize in selling our products and who are also associated with broker-dealers; through independent insurance brokers who are also associated with broker-dealers; and through certain securities brokers/dealers selected by us whose personnel are legally authorized to sell annuity products. There are no special purchase plans for any class of prospective buyers. However, under certain limited circumstances described in the prospectus under the section Charges and Other Deductions, any applicable account fee may be reduced or waived.

**Contract Adjustment – Interim Value Calculation** 

**Interim Value for Indexed Segments with no Annual Locks** 

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

(1) is the value of the Fixed Income Asset Proxy of a Segment on the Valuation Date the Interim Value is calculated. It is determined for a Segment as: **C x [1 / (1 + E)**<sup>D</sup> **x (1 + E)**<sup>D</sup> **/ (1 + F)**<sup>D</sup>**]**

<u>where:</u> 

**C =** is the Crediting Base of the Segment on the Valuation Date of the calculation.

**D =** is the total calendar days remaining in the Indexed Term divided by 365.

**E =** is the Discount Rate that applies to the Segment on the Start Date of the Segment.

If an election to lock and reset a Segment is exercised during the Indexed Term, F is the Discount Rate that applies to the Segment on the Reset Date.

**F =** is the Discount Rate that applies to the Segment on the Valuation Date.

(2) is the market value of the Derivative Asset Proxy, determined solely by us, on the Valuation Date of the calculation.

**Interim Value for Indexed Segments with Annual Locks** 

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

(1) is the value of the Fixed Income Asset Proxy of a Segment on the Valuation Date the Interim Value is calculated. It is determined for a Segment as: **C x [1 / (1 + E)**<sup>D</sup> **x (1 + E)**<sup>D</sup> **/ (1 + F)**<sup>D</sup>**]**

<u>where:</u> 

**C =** is the initial Crediting Base of the Segment that has been proportionately adjusted for any withdrawals, premium taxes, or rider fees and charges that have occurred during the Indexed Term prior to the Valuation Date of the calculation.

**D =** is the total calendar days remaining in the Indexed Term divided by 365.

**E =** is the Discount Rate that applies to the Segment on the Start Date of the Segment.

If an election to lock and reset a Segment is exercised during the Indexed Term, F is the Discount Rate that applies to the Segment on the Reset Date.

**F =** is the Discount Rate that applies to the Segment on the Valuation Date.

(2) is the market value of the Derivative Asset Proxy, determined solely by us, on the Valuation Date of the calculation.

Each component of the calculation is further explained as follows:

1. **Fixed Income Asset Proxy.** The Fixed Income Asset Proxy is a hypothetical fixed income asset that is meant to represent the

market value of the investment instruments supporting the Segment.

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The Discount Rate is derived from the Reference Rate, which is the sum of a U.S. Constant Maturity Treasury (CMT) yield plus a

market observable spread of investment grade U.S. corporate bonds.

If the U.S. Constant Maturity Treasury yield(s) are not published for a particular day or we are delayed in receiving these values, then we will use the yield(s) on the last day they were published. If the U.S. Constant Maturity Treasury yield(s) are no longer published, are not published for an extended period, or are discontinued, then we may substitute another suitable method for

determining these components of the Reference Rate.

If the U.S. Constant Maturity Treasury yield(s) are not published for a time to maturity that matches the selected duration, then

the yield(s) will be interpolated between the yield(s) for maturities that are published.

If the market observable spread(s) of investment grade U.S. Corporate Bonds are not published for a particular day, or we are delayed in receiving these values then we will use the spread(s) on the last day they were published. If these components are no longer published, are not published for an extended period, or are discontinued, then we may substitute another suitable method

for determining these components of the Reference Rate.

We reserve the right to change the methodology of the Interim Value calculation at any time and at our sole discretion.

2. **Derivative Asset Proxy**. We utilize a fair market methodology to value the replicating portfolio of financial instruments that sup

port the product.

The Derivative Asset Proxy is determined assuming a package of derivative assets and other financial instruments, determined solely by Us, that replicates the Performance Rate on the End Date of the Segment. The value of the package of derivative assets and other financial instruments is determined on any Valuation Date that the Interim Value is calculated for a Segment. The valuation of the financial instruments is based on standard methods for valuing financial instruments and based on inputs from third party vendors. The methodology used to value these financial instruments is determined solely by us and may vary, higher or lower, from other estimated valuations or the actual selling price of identical financial instruments. Any variance between our estimated fair value price and other estimated or actual prices may be different from Segment type to Segment type and may

also change from day to day.

The options or other instruments for each Indexed Account type are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. At-the money call option: This represents the market value of the potential to receive an amount equal to the percentage growth in the Index during the Indexed Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Out-of-the-money call option: This represents the market value of the potential for gain in excess of the Performance Cap rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Out-of-the-money put option: This represents the market value of the potential to receive an amount equal to the excess loss beyond the Protection Level.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Digital option: This represents the market value of the option to provide the Performance Trigger Rate under zero or positive Index returns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. At-the money put option: This represents the market value of the potential to receive an amount equal to the percentage loss of the index during the Indexed Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. Dual structure: This represents the market value of receiving a maturity amount equal to the Dual Performance Trigger Rate or Dual Rate at the end of the Indexed Term independent of the underlying index returns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NOTE: Put option C will always reduce the Interim Value even if the Index has increased during the Indexed Term.

For each Segment with no Annual Lock with Performance Cap rates and Protection Levels, the replicating portfolio of options is equal to: A minus B minus C.

For each Segment with Performance Trigger Rates and Protection Levels, the replicating portfolio of options is equal to: D minus C.

For each Segment with a Dual Performance Trigger Rate and Protection Level, the replicating portfolio of financial instruments is equal to: F minus C.

For each Segment with Annual Lock, we designate and value a replicating (derivative) structure which is tied to the compounded performance for each year of the Annual Lock Segment. The market standard model is adjusted by us to account for additional market risks relevant to the Annual Lock Segment.

For each Dual Plus Segment, the replicating portfolio of financial instruments is equal to: F plus B (at the Dual Rate) minus B (at the Performance Cap Rate) minus E.

The key inputs, including but not limited to the following, are also incorporated into the models:

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Implied Volatility of the Index—This input varies with (i) how much time remains until the Segment End Date, which is determined by using an expiration date for the designated option that corresponds to that time remaining and (ii) the relationship between the strike price of that option and the level of the index at the time of the calculation (including the potential for resets of each Annual Lock Period).

This relationship is referred to as the "moneyness" of the option described above, and is calculated as the ratio of current price to the strike price. Direct market data for these inputs for any given early withdrawal is generally not available. This is because options on the Index that actually trade in the market have specific maturity dates and moneyness values that are unlikely to precisely match the Segment End Date (or remaining Annual Lock Periods) and moneyness of the designated option that we use in our calculations. Accordingly, we interpolate between the implied volatility quotes that are based on the actual maturities and moneyness values.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Interest Rate—We use key derivative interest rates obtained from information provided by independent third-parties which are recognized financial reporting vendors. Interest rates are obtained for maturities adjacent to the actual time remaining in the Segment at the time of the early withdrawal. We use linear interpolation to derive the exact remaining duration rate needed as the input.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Index Dividend Yield—On a daily basis, we use the projected annual dividend yield across the entire index obtained from information provided by independent third-party financial institutions. This value is a widely used assumption and is readily available from recognized financial reporting vendors.

In addition, when we calculate the Interim Value, we calculate market values of financial instruments each business day based on inputs from outside vendors. Inputs obtained from these outside vendors may vary over time based on market conditions and changes in valuation standards. If we are delayed in receiving these values, we will use the option value on the last day it was available to calculate a new Interim Value.

------

**Examples**

The following examples demonstrate how the Interim Value is calculated in different scenarios for Indexed Segments with Performance Caps and Protection Levels.

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **6 Year** | **6 Year** |
| Indexed Term length  | &nbsp;&nbsp; 12 <br> months<br>| &nbsp;&nbsp; 72 <br> months<br>| &nbsp;&nbsp; 72 <br> months<br>|
| Months since Indexed Term Start Date | 9 | 69 | 15 |
| Indexed Crediting Base | $1000 | $1000 | $1000 |
| Protection Level | 10% | 10% | 10% |
| Performance Cap | 12% | 100% | 100% |
| Months to End Date | 3 | 3 | 57 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Change in Index Value is -30%** | **1 Year** | **6 Year** | **6 Year** |
| 1. Fair value of the fixed income asset proxy  | $997 | $997 | $940 |
| 2. Fair value of derivative asset proxy | $(197) | $(197) | $(163) |
| Interim Value = Sum of 1 + 2 | $800 | $800 | $777 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not <br> change prior to the End Date)<br>| $800 | $800 | $800 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Change in Index Value is -10%** | **1 Year** | **6 Year** | **6 Year** |
| 1. Fair value of the fixed income asset proxy  | $997 | $997 | $940 |
| 2. Fair value of derivative asset proxy | $(28) | $(27) | $(6) |
| Interim Value = Sum of 1 + 2 | $969 | $970 | $934 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not <br> change prior to the End Date)<br>| $1000 | $1000 | $1000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Change in Index Value is 20%** | **1 Year** | **6 Year** | **6 Year** |
| 1. Fair value of the fixed income asset proxy  | $997 | $997 | $940 |
| 2. Fair value of derivative asset proxy | $104 | $203 | $210 |
| Interim Value = Sum of 1 + 2 | $1101 | $1200 | $1150 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not <br> change prior to the End Date)<br>| $1120 | $1200 | $1200 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Change in Index Value is 40%** | **1 Year** | **6 Year** | **6 Year** |
| 1. Fair value of the fixed income asset proxy | $997 | $997 | $940 |
| 2. Fair value of derivative asset proxy | $119 | $401 | $335 |
| Interim Value = Sum of 1 + 2 | $1116 | $1398 | $1275 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not <br> change prior to the End Date)<br>| $1120 | $1400 | $1400 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

The following examples demonstrate how the Interim Value is calculated in different scenarios for Dual Plus Indexed Segments.

---

| | |
|:---|:---|
|  | **6 Year** |
| Indexed Term length  | &nbsp;&nbsp; 72 <br> Months<br>|
| Months since Indexed Term Start Date | 18 |
| Indexed Crediting Base | $1000 |
| Dual Rate | 15% |
| Performance Cap | 70% |
| Months to End Date | 54 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is -15%** | **6 Year** | **6 Year** |
| 1. Fair Value of the fixed income asset proxy  | $977 | $934 |
| 2. Fair Value of derivative asset proxy | $(10) | $(12) |
| Interim Value = Sum of 1 + 2 | $967 | $922 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1000 | $1000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is -5%** | **6 Year** | **6 Year** |
| 1. Fair Value of the fixed income asset proxy  | $977 | $934 |
| 2. Fair Value of derivative asset proxy | $67 | $57 |
| Interim Value = Sum of 1 + 2 | $1044 | $991 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1100 | $1100 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is 10%** | **6 Year** | **6 Year** |
| 1. Fair Value of the fixed income asset proxy  | $977 | $934 |
| 2. Fair Value of derivative asset proxy | $175 | $149 |
| Interim Value = Sum of 1 + 2 | $1152 | $1083 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1150 | $1150 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Change in Index Value is 20%** | **6 Year** | **6 Year** |
| 1. Fair Value of the fixed income asset proxy  | $977 | $934 |
| 2. Fair Value of derivative asset proxy | $245 | $205 |
| Interim Value = Sum of 1 + 2 | $1222 | $1139 |
| Segment Ending Value (this value assumes the Index performance and Crediting Base did not change <br> prior to the End Date)<br>| $1200 | $1200 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

**Principal Underwriter** 

Lincoln Financial Distributors, Inc., ("LFD") is a wholly owned subsidiary of Lincoln National Corporation and an affiliate of Lincoln New York as a result of common control. LFD serves as the principal underwriter (the "Principal Underwriter") for the Contracts, as described in the prospectus. The offering of the Contracts is continuous. The Principal Underwriter has also entered into selling agreements with other broker-dealers ("Selling Firms") for the sale of the contracts. Sales representatives who are registered with Selling Firms are appointed as our insurance agents. LFD, in its capacity as Principal Underwriter, has paid no sales compensation to date in connection with the Contracts. The Principal Underwriter retained no underwriting commissions for the sale of the contracts. LFD maintains its principal place of business at 130 North Radnor Chester Road, Radnor, Pennsylvania 19087.

**Contract Information**

**Additional Services** 

**Automatic Withdrawal Service (AWS)**—AWS provides an automatic, periodic withdrawal of Contract Value to you. AWS may take place on either a monthly, quarterly, semi-annual or annual basis, as selected by the Contractowner. You may elect to participate in AWS at the time of application or at any time before the Annuity Commencement Date by sending a written request or in another manner acceptable to us. The minimum Contract Value required to establish AWS is $10,000. You may cancel or make changes to your AWS program at any time by sending a written request to us. If telephone authorization has been elected, certain changes may be made by telephone. Notwithstanding the requirements of the program, any withdrawal must be permitted under Section 401(a)(9) of the IRC for qualified plans or permitted under Section 72 of the IRC for nonqualified contracts.

**Financial Statements** 

The December 31, 2025 financial statements of Lincoln New York are incorporated into this SAI by reference to the most recent Form N-VPFS ("[N-VPFS](https://www.sec.gov/Archives/edgar/data/1022095/000110465926039266/tm263458d2_nvpfs.htm)") filed with the SEC.

------

PART C - OTHER INFORMATION

**Item 27. Exhibits**

(a) Not applicable

(b) Not applicable

(c)(1) [Principal Underwriting Agreement between Lincoln Financial Distributors, Inc. and Lincoln Life & Annuity Company of New](http://www.sec.gov/Archives/edgar/data/1093278/000104746907009364/a2180949zex-99_b3a.txt)[York incorporated herein by reference to Pre-Effective Amendment No. 1 (File No. 333-145531) filed on November 16, 2007.](http://www.sec.gov/Archives/edgar/data/1093278/000104746907009364/a2180949zex-99_b3a.txt)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) [Form of Broker-Dealer Selling Group Agreement among The Lincoln National Life Insurance Company, Lincoln Life & Annuity](https://www.sec.gov/Archives/edgar/data/1022095/000072686524000832/exhibitc2.htm)[Company of New York and Lincoln Financial Distributors, Inc. incorporated herein by reference to Registration Statement on](https://www.sec.gov/Archives/edgar/data/1022095/000072686524000832/exhibitc2.htm)[Form N-4 (File No. 333-283685) filed on December 9, 2024.](https://www.sec.gov/Archives/edgar/data/1022095/000072686524000832/exhibitc2.htm)

(d)(1) [Single Premium Annuity Contract 24-50090 (B-Share) filed herein.](tm265270d1_ex99-bxdx1.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) [Single Premium Annuity Contract Spec Pages 24CS-50090 (B-Share) filed herein.](tm265270d1_ex99-bxdx2.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) [Single Premium Annuity Contract 24-50091 (Advisory) filed herein.](tm265270d1_ex99-bxdx3.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) [Single Premium Annuity Contract Spec Pages 24CS-50091 (Advisory) filed herein.](tm265270d1_ex99-bxdx4.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) [Indexed Account Specifications (24CS-5009INDX) filed herein.](tm265270d1_ex99-bxdx5.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) [Indexed Accounts Rider (24AR-740) (Dual Performance Trigger Rate) filed herein.](tm265270d1_ex99-bxdx6.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) [Indexed Accounts Rider (24AR-740A) (Dual Performance Trigger Rate) (Advisory) filed herein.](tm265270d1_ex99-bxdx7.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) [Indexed Accounts Rider (24AR-741) (Dual Rate Plus) filed herein.](tm265270d1_ex99-bxdx8.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) [Indexed Accounts Rider (24AR-741A) (Dual Rate Plus) (Advisory) filed herein.](tm265270d1_ex99-bxdx9.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) [Indexed Accounts Rider (24AR-742) (Performance Cap) filed herein.](tm265270d1_ex99-bxdx10.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) [Indexed Accounts Rider (24AR-742A) (Performance Cap) (Advisory) filed herein.](tm265270d1_ex99-bxdx11.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) [Indexed Accounts Rider (24AR-744) (Performance Trigger) filed herein.](tm265270d1_ex99-bxdx12.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) [Indexed Accounts Rider (24AR-744A) (Performance Trigger) (Advisory) filed herein.](tm265270d1_ex99-bxdx13.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) [Indexed Accounts Rider (24AR-747) (Performance Cap with Annual Locks) filed herein.](tm265270d1_ex99-bxdx14.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) [Indexed Accounts Rider (24AR-747A) (Performance Cap with Annual Locks) (Advisory) filed herein.](tm265270d1_ex99-bxdx15.htm)

(e) (1) [Application filed herein.](tm265270d1_ex99-bxex1.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) [Application (Advisory) filed herein.](tm265270d1_ex99-bxex2.htm)

(f)(1) [Amended and Restated Charter of Lincoln Life & Annuity Company of New York incorporated herein by reference to Registration](https://www.sec.gov/Archives/edgar/data/1022095/000072686524000832/exhibitf1.htm)[Statement on Form N-4 (File No. 333-283685) filed on December 9, 2024.](https://www.sec.gov/Archives/edgar/data/1022095/000072686524000832/exhibitf1.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) [Amended and Restated By-laws of Lincoln Life & Annuity Company of New York incorporated herein by reference to](http://www.sec.gov/Archives/edgar/data/1093278/000072686511000677/exhibit6.htm)[Registration Statement on Form N-4 (File No. 333-175691) filed on July 21, 2011.](http://www.sec.gov/Archives/edgar/data/1093278/000072686511000677/exhibit6.htm)

(g) Not applicable

(h) Not applicable

(i) [Accounting and Financial Administration Services Agreement dated January 1, 2019 among State Street Bank and Trust Company,](http://www.sec.gov/Archives/edgar/data/1080299/000110465919021053/a19-3437_1ex99dbi1.htm)[The Lincoln National Life Insurance Company and Lincoln Life & Annuity Company of New York is incorporated herein by reference to](http://www.sec.gov/Archives/edgar/data/1080299/000110465919021053/a19-3437_1ex99dbi1.htm)[Post-Effective Amendment No. 36 on Form N-6 (File No. 333-125790) filed on April 12, 2019.](http://www.sec.gov/Archives/edgar/data/1080299/000110465919021053/a19-3437_1ex99dbi1.htm)

(j) Not applicable

(k) [Opinion and Consent of Counsel of Nadine Rosin, Counsel of Lincoln Life & Annuity Company of New York, as to the legality of securities being issued filed herein.](tm265270d1_ex99-bxk.htm)

(l) [Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm filed herein.](tm265270d1_ex99-bxl.htm)

(m) Not applicable

(n) Not applicable

(o) [Form of ISP filed herein.](tm265270d1_ex99-bxo.htm)

(p) [Power of Attorney - Principal Officers and Directors of Lincoln Life & Annuity Company of New York filed herein.](tm265276d6_ex99-bxp.htm)

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(q) Not applicable

(r) Not applicable

(s) [Lincoln National Corporation Organizational Chart incorporated herein by reference to Post-Effective Amendment No. 47 on Form](https://www.sec.gov/Archives/edgar/data/1080299/000110465926040453/tm265117d1_ex99-bx32.htm)[N-6 (File No. 333-125790) filed on April 7, 2026.](https://www.sec.gov/Archives/edgar/data/1080299/000110465926040453/tm265117d1_ex99-bx32.htm)

EX-101.SCH XBRL Taxonomy Extension Schema Document

**Item 28. Directors and Officers of the Insurance Company**

The following list contains the officers and directors of Lincoln Life & Annuity Company of New York who are engaged directly or indirectly in activities relating to as well as the contracts. The list also shows Lincoln Life & Annuity Company of New York's executive officers.

---

| | |
|:---|:---|
| Name | Positions and Offices with Insurance Company |
| John G. Morriss\* | Executive Vice President, Chief Investment Officer and Director |
| Adam M. Cohen\* | Senior Vice President, Chief Accounting Officer and Treasurer |
| Ellen G. Cooper\* | President and Director |
| Stephen B. Harris\* | Senior Vice President and Chief Ethics and Compliance Officer |
| Mark E. Konen <br> 4901 Avenue G<br> Austin, TX 78751<br>| Director |
| M. Leanne Lachman <br> 870 United Nations, Plaza, #19-E<br> New York, NY 10017<br>| Director |
| Dale LeFebvre<br> 2710 Foxhall Road NW<br> Washington, DC 20007<br>| Director |
| Louis G. Marcoccia <br> Senior Vice President<br> Syracuse University<br> Crouse-Hinds Hall, Suite 620<br> 900 S. Crouse Ave.<br> Syracuse, NY 13244<br>| Director |
| Christopher M. Neczypor\* | Executive Vice President, Chief Financial Officer and Director |
| Nancy A. Smith\* | Secretary |
| Joseph D. Spada\*\* | Vice President and Chief Compliance Officer for Separate Accounts |

---

\*Principal business address is 150 N. Radnor-Chester Road, Radnor, PA 19087

\*\*Principal business address is 350 Church Street, Hartford, CT 06103

**Item 29. Persons Controlled by or Under Common Control with the Insurance Company**

See Exhibit (s) above: [Lincoln National Corporation Organization Chart](https://www.sec.gov/Archives/edgar/data/1080299/000110465926040453/tm265117d1_ex99-bx32.htm)

**Item 30. Indemnification**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Brief description of indemnification provisions.

In general, Article VII of the By-Laws of Lincoln Life & Annuity Company of New York (Lincoln Life or Company) provides that Lincoln Life will indemnify certain persons against expenses, judgments and certain other specified costs incurred by any such person if he/she is made a party or is threatened to be made a party to a suit or proceeding because he/she was a director, officer, or employee of Lincoln Life, as long as he/she acted in good faith and in a manner he/she reasonably believed to be in the best interests of, or act opposed to the best interests of, Lincoln Life. Certain additional conditions apply to indemnification in criminal proceedings.

In particular, separate conditions govern indemnification of directors, officers, and employees of Lincoln Life in connection with suits by, or in the right of, Lincoln Life.

Please refer to Article VII of the By-Laws of Lincoln Life (Exhibit no. f(b) hereto) for the full text of the indemnification provisions. Indemnification is permitted by, and is subject to the requirements of, Indiana law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Undertaking pursuant to Rule 484 of Regulation C under the Securities Act of 1933:

------

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the provisions described in Item 28(a) above or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer, or controlling person of the Registrant in the successful defense of any such action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

**Item 31. Principal Underwriter**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Lincoln Financial Distributors, Inc. ("LFD") currently serves as Principal Underwriter for: Lincoln National Variable Annuity Account C; Lincoln National Flexible Premium Variable Life Account D; Lincoln National Variable Annuity Account E; Lincoln National Flexible Premium Variable Life Account F; Lincoln National Flexible Premium Variable Life Account G; Lincoln National Variable Annuity Account H; Lincoln Life & Annuity Variable Annuity Account H; Lincoln Life Flexible Premium Variable Life Account J; Lincoln Life Flexible Premium Variable Life Account K; Lincoln National Variable Annuity Account L; Lincoln Life & Annuity Variable Annuity Account L; Lincoln Life Flexible Premium Variable Life Account M; Lincoln Life & Annuity Flexible Premium Variable Life Account M; Lincoln Life Variable Annuity Account N; Lincoln New York Account N for Variable Annuities; Lincoln Life Variable Annuity Account Q; Lincoln Life Flexible Premium Variable Life Account R; LLANY Separate Account R for Flexible Premium Variable Life Insurance; Lincoln Life Flexible Premium Variable Life Account S; LLANY Separate Account S for Flexible Premium Variable Life Insurance; Lincoln Life Variable Annuity Account T; Lincoln Life Variable Annuity Account W; and Lincoln Life Flexible Premium Variable Life Account Y and Lincoln Life & Annuity Flexible Premium Variable Life Account Y; Lincoln Life Variable Annuity Account JF-H; Lincoln Life Variable Annuity Account JF-I; Lincoln Life Flexible Premium Variable Life Account JF-A; Lincoln Life Flexible Premium Variable Life Account JF-C; Lincoln Life Variable Annuity Account JL-A; Lincoln Life & Annuity Flexible Premium Variable Life Account JA-B; Lincoln Variable Insurance Products Trust; Lincoln Advisors Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Officers and Directors of Lincoln Financial Distributors, Inc.:

---

| | |
|:---|:---|
| Name  | Positions and Offices with Underwriter  |
| Adam M. Cohen\* | Senior Vice President and Treasurer |
| Jason M. Gibson\*\* | Vice President and Chief Compliance Officer |
| Claire H. Hanna\* | Secretary |
| John C. Kennedy\* | President, Chief Executive Officer and Director |
| Jared M. Nepa\* | Senior Vice President and Director |
| Timothy J. Seifert Sr\* | Senior Vice President and Director |

---

\*Principal business address is 150 N. Radnor-Chester Road, Radnor, PA 19087

\*\*Principal business address is 1301 South Harrison Street, Fort Wayne, IN 46802

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) N/A

**Item 31A. Information about Contracts with Indexed-Linked Options and Fixed Options Subject to a Contract Adjustment** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The information in the chart below is current as of December 31, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Name of the Contract** | &nbsp;&nbsp; **Number of**<br> **Contracts**<br> **Outstanding**<br>| &nbsp;&nbsp; **Total Value**<br> **Attributable**<br> **to the Index**<br> **and/or Fixed**<br> **Option Subject**<br> **to an Adjustment**<br>| &nbsp;&nbsp; **Number of**<br> **Contracts Sold**<br> **During the**<br> **Prior**<br> **Calendar**<br> **Year**<br>| &nbsp;&nbsp; **Gross**<br> **Premiums**<br> **Received**<br> **During the**<br> **Prior**<br> **Calendar**<br> **Year**<br>| &nbsp;&nbsp; **Amount of**<br> **Contract Value**<br> **Redeemed**<br> **During the**<br> **Prior**<br> **Calendar**<br> **Year**<br>| &nbsp;&nbsp; **Combination**<br> **Contract**<br> **(Yes/No)**<br>|
| *Lincoln Level Advantage 2*<sup>®</sup> B-Share | N/A | N/A | N/A | N/A | N/A | No |
| *Lincoln Level Advantage 2*<sup>®</sup> Advisory | N/A | N/A | N/A | N/A | N/A | No |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Current limits on Index gains in effect for each Indexed Account during the twelve months ending on December 31, 2025: Not applicable.

------

**Item 32. Location of Accounts and Records**

Not applicable.

**Item 33. Management Services**

Not Applicable.

**Item 34. Fee Representation and Undertakings**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The Insurance Company undertakes that it will file, during any period in which offers or sales are being made, a post-effective amendment to the registration statement to include any prospectus required by section 10(a)(3) of the Securities Act; and.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The Insurance Company undertakes that, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

------

**SIGNATURES**

(a) As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant has caused this Pre-Effective Amendment
No. 1 to the registration statement to be signed on its behalf, in the City of Hartford, and the State of Connecticut on this 25<sup>th</sup>
day of March, 2026 at 7:30 am.

---

| | |
|:---|:---|
| **Lincoln Life & Annuity Company of New York** | **Lincoln Life & Annuity Company of New York** |
| (Insurance Company) | (Insurance Company) |
| *Lincoln Level Advantage* 2<sup>®</sup> B-Share | *Lincoln Level Advantage* 2<sup>®</sup> B-Share |
| *Lincoln Level Advantage* 2<sup>®</sup> Advisory | *Lincoln Level Advantage* 2<sup>®</sup> Advisory |
| By: | /s/Kimberly A. Genovese |
|  | Kimberly A. Genovese |
|  | (Signature-Officer of Depositor) |
|  | Vice President, Lincoln Life & Annuity Company of New York |

---

(b) As required by the Securities Act of 1933, this Amendment to the registration statement has been signed by the following persons in
their capacities indicated on March 25, 2026 at 7:30 am.

---

| | | |
|:---|:---|:---|
| Signature | Signature | Title |
| \* | /s/ Ellen G. Cooper  | President and Director |
| Ellen G. Cooper | Ellen G. Cooper |  |
| \* | /s/ Christopher M. Neczypor  | Executive Vice President, Chief Financial Officer, |
| Christopher M. Neczypor | Christopher M. Neczypor | and Director |
| \* | /s/ John G. Morriss  | Executive Vice President, Chief Investment Officer, |
| John G. Morriss | John G. Morriss | and Director |
| \* | /s/ Adam M. Cohen  | Senior Vice President, Treasurer, and Chief |
| Adam M. Cohen | Adam M. Cohen | Accounting Officer |
| \* | /s/ Mark E. Konen  | Director |
| Mark E. Konen | Mark E. Konen |  |
| \* | /s/ M. Leanne Lachman  | Director |
| M. Leanne Lachman | M. Leanne Lachman |  |
| \* | /s/ Louis G. Marcoccia  | Director |
| Louis G. Marcoccia | Louis G. Marcoccia |  |
| \* | /s/ Dale LeFebvre  | Director |
| Dale LeFebvre | Dale LeFebvre |  |

---

---

| | | |
|:---|:---|:---|
| \* | /s/Kimberly A. Genovese | , pursuant to a Power of Attorney |
|  | Kimberly A. Genovese |  |

---

## Ex-99.B(D)(1)

**Exhibit 99.B(d)(1)**

Abraham Lincoln <br>XX-0123456

**Lincoln Life & Annuity Company of New York** 

(A Stock Company)

Home Office: 120 Madison Street, Suite 1310, Syracuse, New York 13202

Servicing Office: 1301 South Harrison Street, P.O. Box 2348, Fort Wayne, Indiana 46801-2348

**ANNUITY CONTRACT**

**INDIVIDUAL SINGLE PURCHASE PAYMENT INDEX-LINKED DEFERRED ANNUITY CONTRACT**

Lincoln Life & Annuity Company of New York (Company, Our, Us, We) agrees to provide the benefits and other rights described in this Contract in accordance with the terms of this Contract.

**READ THIS CONTRACT CAREFULLY.** This is a legal contract between the Owner and Us. We want to be sure You understand the features and benefits contained in this Contract. IT IS THEREFORE IMPORTANT THAT YOU READ YOUR CONTRACT CAREFULLY. If You have any questions after reading this Contract, contact Your financial professional or Our Servicing Office.

**NOTICE OF RIGHT TO EXAMINE CONTRACT. Within 10 days after this Contract is first received (60 days if this is a replacement Contract), it may be cancelled for any reason without penalty (e.g., no Surrender Charge will be deducted) by delivering or mailing it to the financial professional through whom it was purchased or to Our Servicing Office. When the Contract is received at Our Servicing Office, We will return the greater of (a) Purchase Payment, including an amount to reflect any deducted fees; or (b) the Contract Value, including an amount to reflect any deducted fees. The refund will be determined as of the date the Contract was mailed to Our Servicing Office or delivered to one of Our financial professionals or Our Servicing Office.**

THE INDEX RETURN MAY BE POSITIVE, NEGATIVE OR ZERO AND INVESTMENT IN THIS CONTRACT MAY RESULT IN A LOSS OF PRINCIPAL. IN SOME INSTANCES, THE POTENTIAL INVESTMENT LOSS FOR THIS PRODUCT MAY BE SIGNIFICANTLY GREATER THAN THE POTENTIAL INVESTMENT GAIN.

**WHILE THE VALUES AND BENEFITS OF THIS CONTRACT MAY BE AFFECTED BY THE EXTERNAL INDEX, THIS CONTRACT DOES NOT DIRECTLY PARTICIPATE IN ANY STOCK OR EQUITY INVESTMENTS.**

**NON-PARTICIPATING.** This Contract is non-participating and will not share in Our surplus earnings.

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Signed for Lincoln Life & Annuity Company of New York at its Home Office in Syracuse, New York.

---

| | |
|:---|:---|
| ![](tm265270d1_ex99-bxdx1img01.jpg) | ![](tm265270d1_ex99-bxdx1img02.jpg) |

---

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**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **<u>PROVISIONS</u>** | **<u>Page Number</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CONTRACT SPECIFICATIONS** | &nbsp;&nbsp;&nbsp;**3** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**DEFINITIONS** | &nbsp;&nbsp;&nbsp;**4** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**GENERAL PROVISIONS** | &nbsp;&nbsp;&nbsp;**10** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CONTRACT VALUE** | &nbsp;&nbsp;&nbsp;**13** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**INDEXED ACCOUNTS** | &nbsp;&nbsp;&nbsp;**14** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**REALLOCATIONS** | &nbsp;&nbsp;&nbsp;**15** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**WITHDRAWALS** | &nbsp;&nbsp;&nbsp;**16** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SURRENDERS** | &nbsp;&nbsp;&nbsp;**17** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SUSPENSION OR DEFERRAL OF PAYMENTS** | &nbsp;&nbsp;&nbsp;**18** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**DEATH BENEFITS** | &nbsp;&nbsp;&nbsp;**18** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**BENEFICIARY** | &nbsp;&nbsp;&nbsp;**20** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**ANNUITY PAYMENT OPTIONS** | &nbsp;&nbsp;&nbsp;**23** |

---

24-50090 3 <br> NY

**DEFINITIONS**

**ANNUITANT(S), JOINT ANNUITANT(S)** -- The Natural Person or Natural Persons upon whose life or lives the Annuity Payments made after the Annuity Commencement Date will be based. The Annuitant(s) is shown on the Contract Specifications.

**ANNUITY COMMENCEMENT DATE** -- The Valuation Date on which the Contract Value is withdrawn for payment of annuity benefits under the Annuity Payment Option selected. The Annuity Commencement Date is selected by the Owner.

**ANNUITY PAYMENT DATE** -- The date on which the Owner is entitled to the first Annuity Payment. Subsequent Annuity Payments will be due on the same day of the month as the first Annuity Payment, at the applicable frequency.

**ANNUITY PAYMENT(S)** -- Periodic payments made to the Owner or the Owner's designee by Us on or after the Annuity Commencement Date which We guarantee as to the dollar amount.

**ANNUITY PAYMENT OPTION(S)** -- Option(s) available to receive Annuity Payments.

**BENEFICIARY** -- The Natural Person or Natural Persons or an entity designated by the Owner to receive the Death Benefit, if any. If the Beneficiary is designated as an Irrevocable Beneficiary, the Owner must receive written consent from the Beneficiary to exercise certain rights or options under this Contract.

**CODE** -- The Internal Revenue Code of 1986, as amended.

**COMPANY, OUR, US, WE** -- Lincoln Life & Annuity Company of New York.

**CONTINGENT ANNUITANT** -- Prior to the Annuity Commencement Date, the individual who will become the Annuitant upon the death of the Annuitant.

**CONTRACT** -- The agreement between Us and the Owner, in which We provide an annuity as described on the front page of this Contract.

**CONTRACT DATE** -- The date this Contract became effective. The Contract Date is shown on the Contract Specifications.

**CONTRACT DATE ANNIVERSARY** -- The anniversary of the Contract Date for each year this Contract remains in force. If in

24-50090 4 <br> NY

any calendar year such date is not a Valuation Date, any transactions that should have occurred on the Contract Date Anniversary will be processed by Us on the first Valuation Date following that Contract Date Anniversary.

**CONTRACT YEAR** -- Each twelve-month period starting with the Contract Date on the Contract Specifications and starting with each Contract Date Anniversary thereafter.

**CREDITING BASE** -- The amount used to determine the Segment Ending Value and the Interim Value. The Crediting Base is distinct from the Contract Value and is not available for a Withdrawal or reallocation and is not used to calculate the Surrender Value, Death Benefit, or other guaranteed paid-up annuity benefits under this Contract.

**DEATH BENEFIT(S)** -- The amount payable upon the death of an Owner or an Annuitant.

**DEATH BENEFIT OPTION** -- Option available to receive Death Benefit payments.

**DUE PROOF** -- Information that We require to pay a Death Benefit. This information includes a certified copy of a death certificate, a certified copy of a decree of a court of competent jurisdiction as to the findings of death, or any other proof of death acceptable to Us.

**END DATE** -- The Indexed Anniversary Date that coincides with the last calendar day of a Term for an ending Segment and the Valuation Date on which We determine the Segment Ending Value.

**FREE WITHDRAWAL AMOUNT** -- The Free Withdrawal Amount is the amount that may be taken as Withdrawals each Contract Year without incurring a Surrender Charge. The Free Withdrawal Amount equals the Free Withdrawal Percentage multiplied by the Contract Value on the Valuation Date of a Withdrawal, less any prior Withdrawals made during the Contract Year. The Free Withdrawal Percentage is shown on the Contract Specifications.

**DEFINITIONS (continued)**

**GOOD ORDER** -- The receipt by Us at Our Servicing Office of all information, as reasonably required, including documentation, instructions and/or Single Purchase Payment deemed necessary by Us, in Our reasonable discretion, to issue the Contract.

**INDEX(ES)** -- The measure, designated by Us, that is used in part, to determine the Performance Rate for a particular Indexed Account. The Performance Rate is determined as described in any Indexed Accounts Rider attached to this Contract. The Index or Indexes available are shown on the Indexed Accounts Specifications.

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**INDEXED ACCOUNT(S)** -- An account that We establish, subject to the terms of this Contract.

**INDEXED ANNIVERSARY DATE** -- The same calendar month and day as the Initial Start Date under this Contract, each calendar year. If in any calendar year such Indexed Anniversary Date is not a Valuation Date, any transactions involving the Indexed Accounts that should have occurred on the Indexed Anniversary Date will be processed by Us on the first Valuation Date following that Indexed Anniversary Date.

**INDEX VALUE(S)** -- The published closing value of an Index on a Valuation Date. If an Index Value is not published for a particular day, We will use the closing Index Value on the next day it is published. In the event that the Index Value for an Index is not published on a particular day when the Index Values for other indexes available with this Contract are published, We will use the closing Index Value for that Index as of the day it was last published.

**INITIAL START DATE** -- The same Valuation Date as the Contract Date. This Contract will only have one Initial Start Date and once set, the date will not change.

**INTERIM VALUE** -- The value that We establish for each Segment of a particular Indexed Account, on any Valuation Date following its Start Date, and prior to its End Date. The method for determining the Interim Value for a Segment of a particular Indexed Account is described in any Indexed Accounts Rider attached to this Contract.

**IRREVOCABLE BENEFICIARY** -- A Beneficiary whose interest cannot be changed without that person's written consent.

**MATURITY DATE** -- The date on which Annuity Payments must commence. The Maturity Date is shown on the Contract Specifications and is based on the original Annuitant's date of birth.

**NATURAL PERSON(S)** -- A human being.

**NON-NATURAL PERSON** -- A trust, corporation, partnership, or association.

**NOTICE, ELECTION OR REQUEST** -- A Notice, Election, or Request to Us is any form of communication providing information, either in writing, or another manner acceptable to Us. Such communication must be received in Good Order and must include all required information necessary to be processed by Us. To be effective for any Valuation Date, a Notice, Election, or Request must be received in Good Order prior to the end of that Valuation Date. Any Notice from Us to the Owner or any other person, is a communication either in writing, or another manner acceptable to Us, to such person at the most recent address shown in Our records.

A Notice, Election, or Request is not binding on any payment or action We make before receiving such communication in Good Order.

**OWNER(S)** -- The one Natural Person, two Natural Persons or an entity who exercises rights of ownership under this

24-50090 6 <br> NY

Contract. If two Natural Persons are named as Owners, all references to Owner means joint Owner. An Owner is shown on the Contract Specifications.

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**DEFINITIONS (continued)**

**PROTECTION LEVEL** -- The maximum percentage of loss that will be excluded when determining the Performance Rate on the End Date for certain Indexed Accounts, if the Percentage Change in the Index Value on that End Date is negative. The Performance Rate is determined as described in any Indexed Accounts Rider attached to this Contract. The Protection Level is expressed as a positive percentage.

**PURCHASE PAYMENT** -- Amounts paid into this Contract by the Owner as consideration for the benefits provided under this Contract.

**SEGMENT(S)** -- The specific Indexed Account option(s) established for the Owner under this Contract as described in any Indexed Accounts Rider attached to this Contract. A new Segment is established when an allocation or a reallocation is made to an Indexed Account.

**SEGMENT ENDING VALUE** -- The value of a Segment of a particular Indexed Account under this Contract on its End Date. The method for determining the Segment Ending Value for a Segment of a particular Indexed Account is described in any Indexed Accounts Rider attached to this Contract.

**SEPARATE ACCOUNT** -- A non-registered, non-insulated Separate Account, established by Us under New York Law, in which We hold the reserves for Our obligations for the Indexed Accounts available under the Contract. The Separate Account is not registered as an investment company with the U.S. Securities and Exchange Commission (SEC) under the Investment Company Act of 1940. We own the assets held in the Separate Account and the Owner does not participate in the performance of such assets. The name of the Separate Account is shown on the Contract Specifications.

**SERVICING OFFICE** -- The office where servicing of this Contract takes place as shown on the cover page of this Contract.

**START DATE** -- The Valuation Date on which the Term for a Segment begins.

**SURRENDER CHARGES** -- Charges that are assessed on a Surrender or a Withdrawal from this Contract, calculated according to the Withdrawal and Surrender Requirements shown on the Contract Specifications. Surrender Charges may be waived in certain instances. The charges are a percentage of the full amount or a portion of the Single Purchase Payment Surrendered or Withdrawn.

**SURRENDER VALUE** -- Value on the Valuation Date of Surrender which is equal to:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the sum of the values of any Segment(s) attributable to this Contract on a given Valuation Date;
minus

&nbsp;&nbsp;&nbsp;&nbsp;(b) any Surrender Charge, Taxes payable by Us and not previously deducted.

24-50090 8 <br> NY

**TERM** -- The period beginning on the Start Date of a Segment to the End Date.

**VALUATION DATE** -- Close of the market of each day that the New York Stock Exchange is open for business. A Valuation Date generally ends at 4:00 pm Eastern Time but may close earlier on certain days and as conditions warrant. We process any instructions or transactions We receive after the close of any Valuation Date on the next Valuation Date.

**YOU, YOUR** -- The Owner and any joint Owner.

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**GENERAL PROVISIONS**

**PAYMENT OF SINGLE PURCHASE PAYMENT.** The Single Purchase Payment is payable to Us at Our Servicing Office.

No subsequent Purchase Payment is permitted after the Contract Date. The amount of the Single Purchase Payment is shown on the Contract Specifications.

**ENTIRE CONTRACT.** This Contract is issued in consideration of the Single Purchase Payment received by Us on or before the Contract Date. This Contract, the attached application and any attached riders, amendments, or endorsements constitute the entire Contract between the Owner and Us.

All statements made by or under the authority of the applicant for the issuance of this Contract shall, be deemed representations and not warranties.

**CHANGES TO THIS CONTRACT.** Only an authorized Officer of the Company may make or modify any provisions of this Contract. Any such changes or modifications must be provided in a Notice in order to be effective.

**INCONTESTABILITY.** This Contract is incontestable from the Contract Date.

**CONFORMITY WITH FEDERAL LAW AND STATE LAW.** If any provision of this Contract is contrary to any federal law or state law to which it is subject, such provision is amended to conform to that law. This Contract may be modified in order to maintain compliance with applicable provisions or requirements of the law, but no such modification will be effective without the prior approval of the New York State Department of Financial Services. We will obtain Your prior written consent for any change that diminishes Your rights and/or benefits under this contract.

**OWNERSHIP.** All Owners will be treated as having equal, undivided interests in this Contract, including rights of survivorship. Either Owner, independently of the other, may exercise any Ownership rights in this Contract. The existence of a joint Owner will not operate to continue this Contract upon the death of the first Owner, unless the joint Owner is the spouse of the deceased Owner.

The Owner may transfer all rights and privileges of Ownership. On the effective date of a transfer, the transferee will become the Owner and will have all the rights and privileges of the Owner. The Owner may revoke any transfer of Ownership prior to its effective date. Unless provided otherwise, a transfer will not affect the interest of any Beneficiary designated prior to the effective date of the transfer.

24-50090 10 <br> NY

A transfer of Ownership, or a revocation of transfer, must be provided in a Notice to Us at Our Servicing Office. When a Notice to transfer or revocation is received, any allowable change will take effect as of the date the Notice was signed by the Owner, unless otherwise specified by the Owner. The change in Ownership is subject to any payments made or any action taken or allowed by Us before the transfer or the revocation is received by Us.

The age of any named Owner on this Contract must be equal to or less than the Maximum Issue Age shown on the Contract Specifications as of the effective date of the change.

**ANNUITANTS.** Prior to the Annuity Commencement Date, the Owner may name only one Annuitant unless the Owner is a tax-exempt entity, however, in which case the Owner may name one Annuitant or two Joint Annuitants.

If the Owner is a Natural Person, the Owner has the right to change the Annuitant at any time by giving Us Notice of the change. If the Owner is a Non-Natural Person, the Annuitant may not be changed. The age of any named Annuitant on this Contract must be equal to or less than the Maximum Issue Age shown on the Contract Specifications as of the effective date of the change. Change of an Annuitant may affect the Death Benefit as described in the DEATH BENEFITS provisions. A Contingent Annuitant may be named or changed upon Our receipt of the Notice.

On or after the Annuity Commencement Date, the Annuitant or Joint Annuitants may not be changed and any Contingent Annuitant designation is no longer applicable and is terminated.

24-50090 11 <br> NY

**GENERAL PROVISIONS (continued)**

**ASSIGNMENTS.** This Contract may be assigned or transferred. We will not be bound by any assignment unless Notice of the assignment is provided at Our Servicing Office. The effective date of the assignment will be the date it is signed by the Owner unless otherwise specified by the Owner. The change is subject to any payments made or actions taken or allowed by Us before the assignment is received by Us. We will not be responsible for the validity of any assignment.

Assignment of Qualified Contracts is permitted unless restricted by the Internal Revenue Code.

**PROOF OF AGE.** Payment will be subject to proof of age, which may be satisfied with a certified copy of a birth certificate, or any other proof We determine acceptable.

**EVIDENCE OF SURVIVAL.** We may require proof that the Annuitant on whose life the Annuity Payment is based is alive when each payment is due.

**LOANS.** Loans are not permitted under this Contract.

**OWNERSHIP OF THE ASSETS.** We have exclusive and absolute ownership and control of Our assets, including all assets in the Separate Account.

**MISSTATEMENT OF AGE.** If the age of the Annuitant has been misstated, the amount payable under this Contract will be adjusted to the amount of income that would have been purchased for the correct age on the Contract Date. Proof of Age may be required at any time.

If We made any overpayments because of misstatement, the dollar amount of any overpayment will be deducted from the current or succeeding Annuity Payments due under this Contract. The dollar amount of any underpayment made by Us because of misstatement, will be paid in full with the next payment due under this Contract.

Any adjustment for overpayment or underpayment will include interest charged or credited, as applicable, at an interest rate of 1% per year, compounded annually.

**MINIMUM BENEFITS.** Any paid-up annuity, Surrender Value or Death Benefit that may be available under this Contract will never be less than the minimum benefits required by the state in which this Contract is delivered or issued for delivery. Minimum benefits will be increased to reflect any guaranteed additional amounts credited to this Contract and will be decreased by prior Withdrawals.

24-50090 12 <br> NY

**PROTECTION AGAINST CREDITORS.** To the extent permitted by law, proceeds are protected from the claims of creditors.

**STATEMENTS.** Prior to the Annuity Commencement Date, at least once each Calendar Year, We will furnish a statement to the Owner. The information provided in the statement will be as of a date no more than four months prior to the date of mailing.

The statement will contain at least the following information:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the beginning and ending dates of the current statement period; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Contract Value at the beginning and end of the current statement period; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) the amounts credited to and deducted from the Contract Value during the current statement period, including
Withdrawals and Surrender Charges; and

&nbsp;&nbsp;&nbsp;&nbsp;(d) the Interim Value or Segment Ending Value of each Segment on the ending date of the current statement
period, as applicable; and

&nbsp;&nbsp;&nbsp;&nbsp;(e) the Death Benefit amount at the end of the current statement period.

**TAXES.** We reserve the right to deduct any Taxes paid by Us to any governmental entity relating to this Contract, including but not limited to: federal tax, state tax, premium tax and any other Taxes required by law. We will, at Our discretion, determine when Taxes relate to this Contract. Taxes may result from Our receipt of the Single Purchase Payment, when a Withdrawal or Surrender is made, this Contract is annuitized or a Death Benefit is paid. We may, at Our discretion, pay Taxes when due and make a deduction at a later date. Payment at an earlier date does not waive Our right to make a deduction at a later date.

**CONTRACT VALUE**

The initial Contract Value is equal to the Single Purchase Payment shown on the Contract Specifications.

The Contract Value at the beginning of each Contract Date Anniversary prior to the Annuity Commencement Date, equals:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the sum of the values of all Segments attributable to this Contract on a given Valuation Date; less

&nbsp;&nbsp;&nbsp;&nbsp;(b) any adjustments for Withdrawals, Surrender Charges, and Taxes made on the first Valuation Date of such
Contract Year.

The Contract Value on a Valuation Date between Contract Date Anniversaries equals the sum of the values of all Segments attributable to this Contract on that Valuation Date.

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**INDEXED ACCOUNTS**

**THE INDEXED ACCOUNTS.** Indexed Accounts are shown on the Indexed Accounts Specifications.

All or a portion of the assets supporting the Indexed Accounts are held in the Separate Account shown on the Contract Specifications.

We offer each Indexed Account at Our discretion and reserve the right to offer additional Indexed Accounts after the Contract Date. We reserve the right to withdraw an Indexed Account, but We will always make at least one Indexed Account available under this Contract. If an Indexed Account is added or withdrawn, We will notify the Owner.

Should We withdraw an Indexed Account and a Segment of that Indexed Account has not yet reached its End Date, the Segment will not terminate until its End Date, but such Indexed Account may not be available under this Contract thereafter.

**DISCONTINUATION OF OR SUBSTANTIAL CHANGE TO AN INDEX.** If an Index is discontinued, substantially changes, or upon Our sole discretion, We determine that Our use of the Index should be discontinued, We will substitute a comparable alternative Index. Any substitution of an Index is subject to approval by the New York State Department of Financial Services. We will notify the Owner of such changes.

**VALUATION OF A SEGMENT OF AN INDEXED ACCOUNT.** The value of a Segment on the Start Date (including the Contract Date) is equal to the Crediting Base on that Valuation Date. On each Valuation Date other than the Start Date and the End Date, the value of a Segment is equal to the Segment Interim Value. On the End Date, the value of a Segment is equal to the Segment Ending Value.

A Segment will terminate on the Valuation Date that the Crediting Base is reduced to $0 due to any Withdrawals, including applicable Surrender Charges.

**INITIAL ALLOCATIONS TO A SEGMENT.** An allocation to establish an initial Segment to an available Indexed Account under this Contract occurs on the Contract Date. Allocation percentages for each Segment must be a whole number ranging from 0% to 100%. The sum of the allocation percentages must equal 100%.

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**REALLOCATIONS**

After the Contract Date and prior to the Annuity Commencement Date, reallocation of Segment Ending Value to establish a new Segment may be elected to be effective on an Indexed Anniversary Date. Reallocation of Interim Value from a multi-year Segment, during its Term, to an available Indexed Account to establish a new Segment may be elected to be effective on an Indexed Anniversary Date. Segments of certain Indexed Accounts may not be available or may vary during and after the first 6 Contract Years.

We will process each reallocation Request pursuant to the Owner's instructions. The Owner's instructions for new reallocations must be received in Good Order within the period shown in the Contract Specifications under Reallocation Instructions.

No reallocation can be made:

&nbsp;&nbsp;&nbsp;&nbsp;(a) to an existing Segment after its Start Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) to a new Segment after the Owner's election of an Annuity Payment Option.

More than one Segment may be established on the same Valuation Date. However, after the first Indexed Anniversary Date, a Segment greater than one year can be established only on the Indexed Anniversary Dates that coincide with the duration of the Term. For example, after the first Indexed Anniversary Date, a Segment with a 6-year Term may only be established on every sixth Indexed Anniversary Date.

Within the period shown on the Contract Specifications under Notice, We will notify the Owner of the next Indexed Anniversary Date. If We receive the Owner's instructions within such period, We will process any new reallocations on that Indexed Anniversary Date, pursuant to the instructions We received.

If no instructions are received at Our Servicing Office within the period shown in the Contract Specifications under Reallocation Instructions:

&nbsp;&nbsp;&nbsp;&nbsp;(a) We will renew an ending Segment to the same Indexed Account and establish a Segment with the same Term;
or

&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Segment with the same Term is available but the Term goes beyond the Annuity Commencement Date,
We may select an available Segment with a Term that ends closest to but before the Annuity Commencement Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) the Segment Ending Value of an ending Segment of an Indexed Account We have withdrawn will be automatically
reallocated to an available Segment chosen by Us.

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**WITHDRAWALS**

The Owner may withdraw a portion of the Contract Value at any time by providing Notice to Us, prior to the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) termination of this Contract upon payment of any Death Benefit; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) Surrender of this Contract.

Withdrawals will be subject to the Withdrawal and Surrender Requirements shown on the Contract Specifications.

Amounts withdrawn will be processed at a Segment's value as of the Valuation Date the Notice for the Withdrawal is executed. The Request may specify from which Indexed Account the Withdrawal will be made. In the absence of the Owner's instructions, the Withdrawal will be deducted proportionately first from any Segment with a one-year Term, and lastly from any Segment with a Term greater than one year.

The Crediting Base for each Segment in effect under this Contract will be reduced proportionately by the amount that the Withdrawal, including applicable Surrender Charges, reduced the Segment's Interim Value.

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**SURRENDERS**

The Owner may surrender this Contract for its Surrender Value at any time by providing Notice, prior to the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) termination of this Contract upon payment of any Death Benefit.

This Contract will terminate upon Surrender. The Surrender will be effective on the Valuation Date on which We receive Notice of Surrender.

Surrenders will be subject to the Withdrawal and Surrender Requirements shown on the Contract Specifications.

We reserve the right to surrender this Contract if any Withdrawal reduces the total Contract Value to an amount less than the minimum nonforfeiture amount required by the New York State Department of Financial Services. In no event will the amount payable on a Surrender be less than the minimum nonforfeiture amount required by the New York State Department of Financial Services.

**WAIVER OF SURRENDER CHARGES.** A Withdrawal or the Surrender of the Contract, prior to the Annuity Commencement Date may be subject to a Surrender Charge, except that such charges do not apply to the following:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Free Withdrawal Amount as defined in the Contract.

For purposes of calculating the Surrender Charge on Withdrawals, any Withdrawals above the Free Withdrawal Amount during a Contract Year will be subject to Surrender Charges until the Single Purchase Payment is exhausted.

&nbsp;&nbsp;&nbsp;&nbsp;(b) a Surrender or Withdrawal as a result of Your total and permanent disability, if the disability occurred
after the Contract Date. Permanent and total disability is disability that prevents You from engaging in any occupation for remuneration
or profit and which has existed consistently for a period of 12 months. Notice of permanent and total disability must be received at Our
Administrative Office with the Request for Surrender or Withdrawal or as soon thereafter as is reasonably possible.

&nbsp;&nbsp;&nbsp;&nbsp;(c) a Surrender or Withdrawal as a result of Your diagnosis of a terminal illness. Diagnosis of the terminal
illness must be subsequent to the Contract Date and result in a life expectancy of less than 12 months. Notice of terminal illness must
be received at Our Administrative Office with the Request for Surrender or Withdrawal or as soon thereafter as is reasonably possible.

&nbsp;&nbsp;&nbsp;&nbsp;(d) a Surrender or Withdrawal as a result of Your confinement to an accredited nursing home or equivalent
health care facility. Admittance in such a facility must be subsequent to the Contract Date and continue for 90 consecutive days prior
to the Surrender or Withdrawal. Notice of such confinement must be received at Our Administrative Office with the Request for Withdrawal
or Surrender or as soon thereafter

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as is reasonably possible. <br>(e) a Surrender or Withdrawal as a result of the death of the Owner or Annuitant, provided the Annuitant has not been changed for any reason other than the death of the prior named Annuitant. This waiver does not apply if a surviving spouse assumes Ownership of the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;(f) an annuitization of the Contract.

If a Non-Natural Person is the Owner of the Contract, the Annuitant or Joint Annuitant will be considered the Owner of the Contract for purposes of this provision.

**SUSPENSION OR DEFERRAL OF PAYMENTS**

**SUSPENSION OR DEFERRAL OF PAYMENTS FROM THE SEPARATE ACCOUNT.** We reserve the right to suspend or postpone payments for a withdrawal or surrender for any period when:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the New York Stock Exchange is closed (other than customary weekend and holiday closings);

&nbsp;&nbsp;&nbsp;&nbsp;(b) trading on the New York Stock Exchange is restricted;

&nbsp;&nbsp;&nbsp;&nbsp;(c) an emergency exists as a result of which disposal of securities held in the Separate Account is not reasonably
practicable or it is not reasonably practicable to determine the value of the Separate Account's net assets; or

&nbsp;&nbsp;&nbsp;&nbsp;(d) during any other period when the Securities and Exchange Commission, by order, so permits for the protection
of the Owner.

**DEATH BENEFITS** 

**ADDITIONAL TAX INFORMATION.** Notwithstanding any provision of this Contract to the contrary, the payment of Death Benefits provided under this Contract will be paid in accordance with Code Section 72(s) or 401(a)(9) as applicable, as amended. For purposes of applying the rules of Code Section 72(s)(6) if the Owner is a Non-Natural Person, We will apply the Annuitant death rules set forth in these DEATH BENEFITS provisions.

If this Contract is issued other than as a non-Qualified contract, distribution provisions of the qualified retirement plan endorsement attached to this Contract may amend and replace certain provisions of this Contract.

**DEATH BEFORE THE ANNUITY COMMENCEMENT DATE.** If there is a single Owner, then upon the death of the Owner before the Annuity Commencement Date, We will pay a Death Benefit to the designated Beneficiary(s). If the designated Beneficiary of the Death Benefit is the surviving spouse of the deceased Owner, the spouse may Request to continue this Contract as the new Owner. Upon the death of the spouse who continued this Contract as the new Owner, We will pay a Death Benefit to the designated Beneficiary(s).

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If there are no designated Beneficiaries, We will pay a Death Benefit to the Owner's estate.

If there are two Owners, upon the death of the first Owner before the Annuity Commencement Date, We will pay a Death Benefit to the surviving Owner. If the surviving Owner is the spouse of the deceased Owner, then the spouse may Request to continue this Contract as sole Owner. Upon the death of the Owner who continued this Contract, We will pay a Death Benefit to the designated Beneficiary(s). If there are no designated Beneficiaries, We will pay a Death Benefit to the Owner's estate.

If the Annuitant is also an Owner, then the Death Benefit paid upon the death of the Annuitant will be subject to these DEATH BENEFITS provisions regarding death of an Owner. If the surviving spouse of the deceased Annuitant assumes this Contract, the Contingent Annuitant, if any, will become the Annuitant. If there is no named Contingent Annuitant, the surviving spouse will become the Annuitant.

If an Annuitant who is not an Owner dies, then the Contingent Annuitant, if named, becomes the Annuitant and no Death Benefit is payable on the death of the Annuitant.

If an Annuitant who is not an Owner dies and no Contingent Annuitant is named, the youngest Owner immediately becomes the Annuitant and this Contract continues. In lieu of continuing this Contract, the Owner may Request to receive a Death Benefit (in equal shares, if there is more than one Owner). Election to receive the Death Benefit must be received by Us within 75 days of the death of the Annuitant. This Contract will terminate when any Death Benefit is paid due to the death of the Annuitant.

If the Owner is a Non-Natural Person, the death of the Annuitant will be treated as the death of the Owner.

The Death Benefit will be paid upon approval by Us and after We are in receipt of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Due Proof of death; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) all claim forms in Good Order at Our Servicing Office.

**DETERMINATION OF DEATH BENEFIT AMOUNTS BEFORE THE ANNUITY COMMENCEMENT DATE.** If the Death Benefit shown in the Contract Specifications is an option other than the Contract Value Death Benefit, the Death Benefit payable is determined as described in a death benefit rider attached to this Contract. The Contract Value Death Benefit is equal to the Contract Value on the Valuation Date the Death Benefit is approved by Our Servicing Office for payment.

Upon the death of an Owner or Annuitant, if a surviving spouse continues this Contract, the excess, if any, of the Death Benefit over the current Contract Value as of the date on which We approve the death claim for payment will be credited into this Contract. Any excess will only be credited one time for each contract.

If the Owner is a Non-Natural Person and there are Joint Annuitants, upon the death of the first Joint Annuitant to die, if this Contract is continued, the excess, if any, of the Death Benefit over the current Contract Value as of the date on which We approve the death claim for payment will be credited into this Contract. Any excess will only be credited one time for each contract.

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**DEATH BENEFITS (continued)**

**PAYMENT OF DEATH BENEFIT AMOUNTS BEFORE THE ANNUITY COMMENCEMENT DATE.** The Death Benefit payable on the death of the Owner, or after the death of the first Owner, or upon the death of the spouse who continues this Contract, will be distributed to the designated Beneficiary(s) as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Death Benefit must be completely distributed within five years of the Owner's date of death; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) an Election may be made within the one-year period after the Owner's date of death for the designated
Beneficiary, to receive the Death Benefit in substantially equal installments over the life of such designated Beneficiary or over a period
not extending beyond the life expectancy of such designated Beneficiary, provided that such distributions begin no later than one year
after the Owner's date of death. If no Election is made, the Death Benefit will be distributed in a lump sum.

Election to pay the Death Benefit upon the death of the Annuitant who is not an Owner, must be chosen by the Owner within 75 days of the death of the Annuitant, and will be distributed to the Owner in either form of a lump sum or under an Annuity Payment Option. An Annuity Payment Option must be chosen within 60 days after We approve the death claim. If such Election to receive the Death Benefit is not made, this Contract will continue as described in the DEATH BEFORE THE ANNUITY COMMENCEMENT DATE provision above.

Upon the Annuity Commencement Date, the Death Benefit will terminate.

**DEATH ON OR AFTER THE ANNUITY COMMENCEMENT DATE.** Upon receipt of Due Proof of death of the Annuitant, any remaining annuity benefits payable will continue to be distributed under the Annuity Payment Option then in effect.

Upon the death of the Owner, any remaining Annuity Payments will be made at least as rapidly as the Annuity Payment Option then in effect. Upon the death of the Owner, the rights of Ownership granted by this Contract will pass to the surviving Owner, if any, otherwise to the Beneficiary.

If there is no named Beneficiary at the time of a sole Owner's death, then the rights of Ownership will pass to the Annuitant, if still living, otherwise to the Joint Annuitant, if applicable. If no named Beneficiary, Annuitant or Joint Annuitant survives the Owner, any remaining payments payable will continue to the Owner's estate.

**BENEFICIARY**

**DESIGNATION OF BENEFICIARY.** The Owner may designate a primary Beneficiary and a contingent Beneficiary; one or more may be in each category. Except as described below, any Death Benefit proceeds will be paid to surviving primary Beneficiaries. If no primary Beneficiary survives, payment will be made to the contingent Beneficiaries.

Prior to the Annuity Commencement Date, if there is a single Owner, the designated Beneficiary will receive the Death Benefit proceeds upon the death of the Owner, unless the Beneficiary is the surviving spouse and requests to continue this Contract.

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Prior to the Annuity Commencement Date, if there are two Owners, upon the death of the first Owner, the surviving Owner will receive the Death Benefit proceeds. The surviving Owner will be treated as the primary Beneficiary. Any other primary Beneficiary designation on record at the time of death will be treated as a contingent Beneficiary.

Prior to the Annuity Commencement Date, if the surviving spouse of a deceased Owner continues this Contract as the sole Owner, then the contingent Beneficiaries will become the new primary Beneficiaries, unless or until the surviving spouse, as the new Owner, changes or elects new Beneficiaries.

Prior to the Annuity Commencement Date, if the Annuitant dies and a Death Benefit is paid, the Owner will be treated as the primary Beneficiary. Any other primary Beneficiary on record at the time of death will be treated as a contingent Beneficiary.

Unless otherwise stated in the Beneficiary designation, multiple Beneficiaries of the same class are presumed to share equally.

**BENEFICIARY (continued)**

**CHANGE OF BENEFICIARY.** The Owner may change any Beneficiary by providing a Notice to change Beneficiary. An Irrevocable Beneficiary may be changed when the Owner provides a Notice and written consent from the Irrevocable Beneficiary; or Notice from the Owner upon the death of the Irrevocable Beneficiary.

A change of Beneficiary will revoke any previous designation and will take effect as of the date the Notice was signed, unless otherwise specified by the Owner, subject to any payment made or action taken or allowed before the change of Beneficiary is received by Us.

**DEATH OF BENEFICIARY.** Unless otherwise provided in the Beneficiary designation, if any primary Beneficiary dies before the Owner, that Beneficiary's interest will go to any other primary Beneficiaries named, according to their respective interests. If there are no other primary Beneficiaries named, the deceased primary Beneficiary's share will pass to the contingent Beneficiaries, if any, according to their respective interests. Prior to the Annuity Commencement Date, if no primary Beneficiary or contingent Beneficiary survives the Owner, the Death Benefit will be paid to the Owner's estate.

Unless otherwise provided in the Beneficiary designation, once a Beneficiary is receiving Death Benefits or Annuity Payments under an Annuity Payment Option, the Beneficiary may name a Beneficiary to receive any remaining benefits due under this Contract, should the original Beneficiary die prior to receipt of all benefits.

A Beneficiary receiving Death Benefits or Annuity Payments under this Contract may name a Beneficiary to receive any remaining payments upon the death of the Beneficiary currently receiving payments. If the Beneficiary receiving

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payments dies and has not named a Beneficiary, then any remaining benefits will be paid to the Beneficiary's estate. A Beneficiary designation must be made by Notice to Us.

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**ANNUITY PAYMENT OPTIONS**

**ANNUITY PAYMENTS.** Annuity Payments will commence on the Annuity Payment Date. Payments are made under the Annuity Payment Option selected. The Annuity Commencement Date is selected by the Owner. The Owner may change the Annuity Commencement Date up to 30 days before the scheduled Annuity Commencement Date by providing Notice to Us. The change will take effect on the date We receive Your Notice.

An Election to receive payments under an Annuity Payment Option must be made by the Maturity Date shown on the Contract Specifications. However, the Owner may Request to receive payments under an Annuity Payment Option any time after the first Contract Date Anniversary.

Annuity Payments available on the Maturity Date will not be less than benefits that would be paid if the accumulated value were used to purchase a single premium immediate annuity contract offered by Us on the Maturity Date to the same class of Annuitants for the same Annuity Payment Option.

**ELECTION OF ANNUITY PAYMENT OPTION BY OWNER.** Prior to the Annuity Commencement Date, the Owner may choose or change any Annuity Payment Option to an Annuity Payment Option We have available at the time of Election. In addition, the Owner may select an Annuity Payment Option that meets the requirements of Code Section 72(s) for payment of the Death Benefit to a Beneficiary as set forth in the PAYMENT OF DEATH BENEFIT AMOUNTS BEFORE THE ANNUITY COMMENCEMENT DATE provision. Election of an Annuity Payment Option must be made and received by Us prior to the Annuity Commencement Date. The Notice will take effect on the date the Notice is signed, subject to any payments made or action taken or allowed by Us before the Notice is received by Us.

The Owner may change or revoke any such Election by providing Notice to Our Servicing Office unless such Election was made irrevocable.

**ELECTION OF ANNUITY PAYMENT OPTION BY BENEFICIARY.** If the Owner has not previously chosen an Annuity Payment as the distribution option for the payment of the Death Benefit to a Beneficiary, then at the time proceeds are payable to a Beneficiary, a Beneficiary may choose any Annuity Payment Option that meets the requirements of Code Section 72(s) for payment of the Death Benefit to a Beneficiary as set forth in the PAYMENT OF DEATH BENEFIT AMOUNTS BEFORE THE ANNUITY COMMENCEMENT DATE provision. The Beneficiary then becomes the Annuitant.

**ANNUITY PAYMENT OPTIONS AVAILABLE UNDER THIS CONTRACT.** A Notice to Us is required to choose an Annuity Payment Option.

Annuity Payment Options available under this Contract are listed below. Additional Annuity Payment Options, however, may be available. Please contact Our Servicing Office for more information.

&nbsp;&nbsp;&nbsp;&nbsp;(a) **LIFE ANNUITY.** Annuity Payments will be made for the lifetime of the Annuitant and will cease with
the last payment due prior to the death of the Annuitant.

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&nbsp;&nbsp;&nbsp;&nbsp;(b) **LIFE ANNUITY WITH PERIOD CERTAIN.** Annuity Payments will be made for the greater of the lifetime
of the Annuitant and a specified period the Owner selected. If the Annuitant dies prior to the end of this specified period, the Beneficiary
will receive the remaining guaranteed payments at least as rapidly as under the method of distribution being used as of the date of the
Annuitant's death. The guaranteed payments will automatically cease as of the end of the specified period.

&nbsp;&nbsp;&nbsp;&nbsp;(c) **JOINT LIFE ANNUITY.** Annuity Payments will be made during the joint life of the Annuitant and a
Joint Annuitant. We will pay equal benefit payments while either of the Annuitants is living. Upon the death of either Annuitant, We will
continue the Annuity Payments for the life of the surviving Annuitant. Benefit payments will automatically cease upon the death of the
last Annuitant.

&nbsp;&nbsp;&nbsp;&nbsp;(d) **JOINT LIFE ANNUITY WITH PERIOD CERTAIN.** Annuity Payments will be made during the joint life of
the Annuitant and a Joint Annuitant. We will pay equal benefit payments for a specified period the Owner selected. If an Annuitant is
living at the end of the specified period, We will continue the Annuity Payments while an Annuitant is living. Benefit payments will automatically
cease upon the death of the last Annuitant.

If no Annuity Payment Option is selected, Life Annuity with a Period Certain of 10 years payable monthly becomes effective.

24-50090 24 <br> NY

**ANNUITY PAYMENT OPTIONS (continued)**

**DETERMINATION OF THE AMOUNT OF THE FIRST ANNUITY PAYMENT.** The amount of Annuity Payment will depend on the age of the Annuitant as of the Annuity Commencement Date.

The first Annuity Payment amount depends on the Annuity Payment Option and the payment frequency elected. A choice may be made to receive Annuity Payments on a monthly, quarterly, semi-annual, or annual basis. If no choice is made, payments will automatically be made monthly. The Annuity Payment Date will be within 30 days of the Annuity Commencement Date, unless otherwise agreed to between Us and the Owner.

The minimum payment amounts and age adjustments that will be used to determine the monthly payments for an Annuity Payment are shown on the Contract Specifications under the PAYMENT OPTION TABLES.

**MINIMUM ANNUITY PAYMENT REQUIREMENTS.** If the first Annuity Payment would be less than the Minimum Monthly Annuity Payment Amount shown on the Contract Specifications or if the Contract Value on the Annuity Commencement Date is less than the Minimum Contract Value shown on the Contract Specifications, We reserve the right to pay the Contract Value in a lump sum and terminate the Contract.

**CHANGE IN ANNUITY PAYMENT OPTION.** The Annuity Payment Option may not be changed after the Annuity Commencement Date.

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24-50090 <br> NY

**LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK**

**ANNUITY CONTRACT**

**INDIVIDUAL SINGLE PURCHASE PAYMENT INDEX-LINKED DEFERRED ANNUITY CONTRACT**

24-50090 <br> NY

## Ex-99.B(D)(2)

**Exhibit 99.B(d)(2)**

**CONTRACT SPECIFICATIONS**

---

| | |
|:---|:---|
| **Contract Number:** | XX-0123456 |
| **Contract Date:** | December 20, 2024 |
| **Owner(s):** | Abraham Lincoln |
| **Annuitant:** | Abraham Lincoln |
| **Age at Issue:** | 76 |
| **Maximum Issue Age:** | 85 |
| **Single Purchase Payment:** | $50000 |
| **Maturity Date:** | June 20, 2047 |
| **Beneficiary Designation on the Contract Date:** | As named by the Owner |
| **Death Benefit on the Contract Date:** | Contract Value Death Benefit |

---

**SEPARATE ACCOUNT:** Lincoln Life & Annuity Company of New York Separate Account 7 is the Separate Account that contains all or a portion of the assets supporting the Segments of the Indexed Accounts.

**REALLOCATION REQUIREMENTS PRIOR TO THE ANNUITY COMMENCEMENT DATE**

**Minimum Single Reallocation to an Indexed Account:** $2,000

**Notice.** We will send the Owner a Notice 25 calendar days prior to an Indexed Anniversary Date.

**Reallocation Instructions.** Owner's instructions must be received in Good Order no later than the 2<sup>nd</sup> calendar day prior to an Indexed Anniversary Date.

**WITHDRAWAL AND SURRENDER REQUIREMENTS**

**Minimum Withdrawal Amount:** $300

**Free Withdrawal Percentage:** 10%

**SURRENDER CHARGES.** Withdrawals and/or Surrenders may be subject to Surrender Charges. However, You may withdraw up to the Free Withdrawal Amount during a Contract Year without incurring a Surrender Charge. Any Free Withdrawal Amount not taken during the Contract Year cannot be carried over to the next Contract Year. The remaining value will be subject to Surrender Charges until the Single Purchase Payment is exhausted.

Surrender Charge applies as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Number of Contract Anniversaries since the Contract Date** | &nbsp;&nbsp;1 | &nbsp;&nbsp;2 | &nbsp;&nbsp;3 | &nbsp;&nbsp;4 | &nbsp;&nbsp;5 | &nbsp;&nbsp;6+ |
| &nbsp;&nbsp;**Surrender Charge as a percentage of the full amount or a portion of the Single Purchase Payment Surrendered or Withdrawn** | &nbsp;&nbsp;7.00% | &nbsp;&nbsp;6.00% | &nbsp;&nbsp;5.00% | &nbsp;&nbsp;4.00% | &nbsp;&nbsp;3.00% | &nbsp;&nbsp;0.00% |

---

24CS-50090 Page 3.X <br> NY

**CONTRACT SPECIFICATIONS (continued)**

**ANNUITY PAYMENT REQUIREMENTS:**

**Minimum Monthly Annuity Payment Amount:** $50

**Minimum Contract Value:** $2,000

24CS-50090 Page 3.X <br> NY

**CONTRACT SPECIFICATIONS (continued)**

**PAYMENT OPTION TABLES**

**BASIS OF CALCULATION FOR ANNUITY PAYMENT OPTIONS**. The Payment Option Tables illustrate the minimum guaranteed monthly payments purchased per $1,000 of Contract Value, after deduction of any applicable Taxes. The actuarial basis for the Payment Option Tables is the 2012 Individual Annuity Basic Mortality Table (Age Last Birthday) with improvement to year 2040 using Projection Scale G2 with an annual interest rate of 1.00%. Minimum guaranteed monthly payments are calculated using female mortality rates for the Annuitant and male mortality rates for the Joint Annuitant, if applicable. The Age Adjustment Table applies mortality improvements based on year of birth. The age used to determine the first monthly annuity payment amount in the table below is equal to attained age plus the adjustment to age value based on year of birth of the Annuitant (for Joint and Survivor Annuities the youngest Annuitant's attained age and year of birth are used in the tables below).

**GUARANTEED PURCHASE RATES.** Minimum payment amounts for ages and options not shown in the PAYMENT OPTION TABLES provisions of this Contract can be obtained from Our Servicing Office. Any benefits paid under this Contract will not be less than those required by the New York Insurance Law.

---

| | | | |
|:---|:---|:---|:---|
| **DOLLAR AMOUNT OF FIRST MONTHLY ANNUITY PAYMENT WHICH IS PURCHASED WITH EACH $1,000 APPLIED** | **DOLLAR AMOUNT OF FIRST MONTHLY ANNUITY PAYMENT WHICH IS PURCHASED WITH EACH $1,000 APPLIED** | **DOLLAR AMOUNT OF FIRST MONTHLY ANNUITY PAYMENT WHICH IS PURCHASED WITH EACH $1,000 APPLIED** | **DOLLAR AMOUNT OF FIRST MONTHLY ANNUITY PAYMENT WHICH IS PURCHASED WITH EACH $1,000 APPLIED** |
| **SINGLE LIFE ANNUITIES** | **SINGLE LIFE ANNUITIES** | **SINGLE LIFE ANNUITIES** | **SINGLE LIFE ANNUITIES** |
| Age | No Period Certain | 120 Months Certain | 240 Months Certain |
| 60 | $3.30 | $3.27 | $3.18 |
| 61 | 3.39 | 3.36 | 3.25 |
| 62 | 3.48 | 3.45 | 3.33 |
| 63 | 3.59 | 3.55 | 3.40 |
| 64 | 3.70 | 3.65 | 3.48 |
| 65 | 3.81 | 3.76 | 3.56 |
| 66 | 3.93 | 3.88 | 3.65 |
| 67 | 4.07 | 4.00 | 3.73 |
| 68 | 4.21 | 4.13 | 3.81 |
| 69 | 4.36 | 4.27 | 3.90 |
| 70 | 4.52 | 4.42 | 3.98 |
| 71 | 4.70 | 4.57 | 4.05 |
| 72 | 4.89 | 4.74 | 4.13 |
| 73 | 5.09 | 4.92 | 4.20 |
| 74 | 5.32 | 5.10 | 4.26 |
| 75 | 5.56 | 5.30 | 4.32 |
| **JOINT AND SURVIVOR ANNUITIES** | **JOINT AND SURVIVOR ANNUITIES** | **JOINT AND SURVIVOR ANNUITIES** | **JOINT AND SURVIVOR ANNUITIES** |
| Joint and Full to Survivor Certain Period | Joint and Full to Survivor Certain Period | Joint and Full to Survivor Certain Period | Joint and Full to Survivor Certain Period |
| Joint Age |  | 120 | 240 |
| 60 | $2.90 | $2.90 | $2.89 |
| 61 | 2.97 | 2.97 | 2.96 |
| 62 | 3.05 | 3.05 | 3.03 |
| 63 | 3.13 | 3.13 | 3.11 |
| 64 | 3.22 | 3.21 | 3.19 |
| 65 | 3.31 | 3.30 | 3.27 |
| 66 | 3.40 | 3.40 | 3.36 |
| 67 | 3.51 | 3.50 | 3.45 |
| 68 | 3.62 | 3.61 | 3.54 |
| 69 | 3.73 | 3.73 | 3.64 |
| 70 | 3.86 | 3.85 | 3.74 |
| 71 | 4.00 | 3.99 | 3.83 |
| 72 | 4.14 | 4.13 | 3.93 |
| 73 | 4.30 | 4.28 | 4.02 |

---

24CS-50090 Page 3.X <br> NY

---

| | | | |
|:---|:---|:---|:---|
| 74 | 4.47 | 4.45 | 4.11 |
| 75 | 4.65 | 4.63 | 4.19 |
| <br> **AGE ADJUSTMENT TABLE** | <br> **AGE ADJUSTMENT TABLE** | <br> **AGE ADJUSTMENT TABLE** | <br> **AGE ADJUSTMENT TABLE** |
| Year of Birth | Adjustment to Age | Year of Birth | Adjustment to Age |
| Before 1920 | 0 | 1970-1979 | -2 |
| 1920-1929 | 0 | 1980-1989 | -3 |
| 1930-1939 | 0 | 1990-1999 | -4 |
| 1940-1949 | 0 | 2000-2009 | -5 |
| 1950-1959 | 0 | 2010-2019 | -6 |
| 1960-1969 | -1 |  |  |

---

24CS-50090 Page 3.X <br> NY

## Ex-99.B(D)(3)

**Exhibit 99.B(d)(3)**

Abraham Lincoln

XX-0123456

**Lincoln Life & Annuity Company of New York** 

(A Stock Company)

Home Office: 120 Madison Street, Suite 1310, Syracuse, New York 13202

Servicing Office: 1301 South Harrison Street, P.O. Box 2348, Fort Wayne, Indiana 46801-2348

**ANNUITY CONTRACT**

**INDIVIDUAL SINGLE PURCHASE PAYMENT INDEX-LINKED DEFERRED ANNUITY CONTRACT**

Lincoln Life & Annuity Company of New York (Company, Our, Us, We) agrees to provide the benefits and other rights described in this Contract in accordance with the terms of this Contract.

**READ THIS CONTRACT CAREFULLY.** This is a legal contract between the Owner and Us. We want to be sure You understand the features and benefits contained in this Contract. IT IS THEREFORE IMPORTANT THAT YOU READ YOUR CONTRACT CAREFULLY. If You have any questions after reading this Contract, contact Your financial professional or Our Servicing Office.

**NOTICE OF RIGHT TO EXAMINE CONTRACT. Within 10 days after this Contract is first received (60 days if this is a replacement Contract), it may be cancelled for any reason without penalty by delivering or mailing it to the financial professional through whom it was purchased or to Our Servicing Office. When the Contract is received at Our Servicing Office, We will return the greater of (a) Purchase Payment, including an amount to reflect any deducted fees; or (b) the Contract Value, including an amount to reflect any deducted fees. The refund will be determined as of the date the Contract was mailed to Our Servicing Office or delivered to one of Our financial professionals or Our Servicing Office.**

THE INDEX RETURN MAY BE POSITIVE, NEGATIVE OR ZERO AND INVESTMENT IN THIS CONTRACT MAY RESULT IN A LOSS OF PRINCIPAL. IN SOME INSTANCES, THE POTENTIAL INVESTMENT LOSS FOR THIS PRODUCT MAY BE SIGNIFICANTLY GREATER THAN THE POTENTIAL INVESTMENT GAIN.

**WHILE THE VALUES AND BENEFITS OF THIS CONTRACT MAY BE AFFECTED BY THE EXTERNAL INDEX, THIS CONTRACT DOES NOT DIRECTLY PARTICIPATE IN ANY STOCK OR EQUITY INVESTMENTS.**

**NON-PARTICIPATING.** This Contract is non-participating and will not share in Our surplus earnings.

24-50091 1 <br> <br> NY

Signed for Lincoln Life & Annuity Company of New York at its Home Office in Syracuse, New York.

![](tm265270d1_ex99-bxdx3img01.jpg)

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**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **<u>PROVISIONS</u>** | **<u>Page Number</u>** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CONTRACT SPECIFICATIONS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**DEFINITIONS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**GENERAL PROVISIONS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CONTRACT VALUE** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**INDEXED ACCOUNTS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**REALLOCATIONS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**WITHDRAWALS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SURRENDERS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SUSPENSION OR DEFERRAL OF PAYMENTS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**DEATH BENEFITS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**BENEFICIARY** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**ANNUITY PAYMENT OPTIONS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21** |

---

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**DEFINITIONS**

**ANNUITANT(S), JOINT ANNUITANT(S)** -- The Natural Person or Natural Persons upon whose life or lives the Annuity Payments made after the Annuity Commencement Date will be based. The Annuitant(s) is shown on the Contract Specifications.

**ANNUITY COMMENCEMENT DATE** -- The Valuation Date on which the Contract Value is withdrawn for payment of annuity benefits under the Annuity Payment Option selected. The Annuity Commencement Date is selected by the Owner.

**ANNUITY PAYMENT DATE** -- The date on which the Owner is entitled to the first Annuity Payment. Subsequent Annuity Payments will be due on the same day of the month as the first Annuity Payment, at the applicable frequency.

**ANNUITY PAYMENT(S)** -- Periodic payments made to the Owner or the Owner's designee by Us on or after the Annuity Commencement Date which We guarantee as to the dollar amount.

**ANNUITY PAYMENT OPTION(S)** -- Option(s) available to receive Annuity Payments.

**BENEFICIARY** -- The Natural Person or Natural Persons or an entity designated by the Owner to receive the Death Benefit, if any. If the Beneficiary is designated as an Irrevocable Beneficiary, the Owner must receive written consent from the Beneficiary to exercise certain rights or options under this Contract.

**CODE** -- The Internal Revenue Code of 1986, as amended.

**COMPANY, OUR, US, WE** -- Lincoln Life & Annuity Company of New York.

**CONTINGENT ANNUITANT** -- Prior to the Annuity Commencement Date, the individual who will become the Annuitant upon the death of the Annuitant.

**CONTRACT** -- The agreement between Us and the Owner, in which We provide an annuity as described on the front page of this Contract.

**CONTRACT DATE** -- The date this Contract became effective. The Contract Date is shown on the Contract Specifications.

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**CONTRACT DATE ANNIVERSARY** -- The anniversary of the Contract Date for each year this Contract remains in force. If in any calendar year such date is not a Valuation Date, any transactions that should have occurred on the Contract Date Anniversary will be processed by Us on the first Valuation Date following that Contract Date Anniversary.

**CONTRACT YEAR** -- Each twelve-month period starting with the Contract Date on the Contract Specifications and starting with each Contract Date Anniversary thereafter.

**CREDITING BASE** -- The amount used to determine the Segment Ending Value and the Interim Value. The Crediting Base is distinct from the Contract Value and is not available for a Withdrawal or reallocation and is not used to calculate the Surrender Value, Death Benefit, or other guaranteed paid-up annuity benefits under this Contract.

**DEATH BENEFIT(S)** -- The amount payable upon the death of an Owner or an Annuitant.

**DEATH BENEFIT OPTION** -- Option available to receive Death Benefit payments.

**DUE PROOF** -- Information that We require to pay a Death Benefit. This information includes a certified copy of a death certificate, a certified copy of a decree of a court of competent jurisdiction as to the findings of death, or any other proof of death acceptable to Us.

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**DEFINITIONS (continued)**

**END DATE** -- The Indexed Anniversary Date that coincides with the last calendar day of a Term for an ending Segment and the Valuation Date on which We determine the Segment Ending Value.

**GOOD ORDER** -- The receipt by Us at Our Servicing Office of all information, as reasonably required, including documentation, instructions and/or Single Purchase Payment deemed necessary by Us, in Our reasonable discretion, to issue the Contract.

**INDEX(ES)** -- The measure, designated by Us, that is used in part, to determine the Performance Rate for a particular Indexed Account. The Performance Rate is determined as described in any Indexed Accounts Rider attached to this Contract. The Index or Indexes available are shown on the Indexed Accounts Specifications.

**INDEXED ACCOUNT(S)** -- An account that We establish, subject to the terms of this Contract.

**INDEXED ANNIVERSARY DATE** -- The same calendar month and day as the Initial Start Date under this Contract, each calendar year. If in any calendar year such Indexed Anniversary Date is not a Valuation Date, any transactions involving the Indexed Accounts that should have occurred on the Indexed Anniversary Date will be processed by Us on the first Valuation Date following that Indexed Anniversary Date.

**INDEX VALUE(S)** -- The published closing value of an Index on a Valuation Date. If an Index Value is not published for a particular day, We will use the closing Index Value on the next day it is published. In the event that the Index Value for an Index is not published on a particular day when the Index Values for other indexes available with this Contract are published, We will use the closing Index Value for that Index as of the day it was last published.

**INITIAL START DATE** -- The same Valuation Date as the Contract Date. This Contract will only have one Initial Start Date and once set, the date will not change.

**INTERIM VALUE** -- The value that We establish for each Segment of a particular Indexed Account, on any Valuation Date following its Start Date, and prior to its End Date. The method for determining the Interim Value for a Segment of a particular Indexed Account is described in any Indexed Accounts Rider attached to this Contract.

**IRREVOCABLE BENEFICIARY** -- A Beneficiary whose interest cannot be changed without that person's written consent.

**MATURITY DATE** -- The date on which Annuity Payments must commence. The Maturity Date is shown on the Contract

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Specifications and is based on the original Annuitant's date of birth.

**NATURAL PERSON(S)** -- A human being.

**NON-NATURAL PERSON** -- A trust, corporation, partnership, or association.

**NOTICE, ELECTION OR REQUEST** -- A Notice, Election, or Request to Us is any form of communication providing information, either in writing, or another manner acceptable to Us. Such communication must be received in Good Order and must include all required information necessary to be processed by Us. To be effective for any Valuation Date, a Notice, Election, or Request must be received in Good Order prior to the end of that Valuation Date. Any Notice from Us to the Owner or any other person, is a communication either in writing, or another manner acceptable to Us, to such person at the most recent address shown in Our records.

A Notice, Election, or Request is not binding on any payment or action We make before receiving such communication in Good Order.

**OWNER(S)** -- The one Natural Person, two Natural Persons or an entity who exercises rights of ownership under this Contract. If two Natural Persons are named as Owners, all references to Owner means joint Owner. An Owner is shown on the Contract Specifications.

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**DEFINITIONS (continued)**

**PROTECTION LEVEL** -- The maximum percentage of loss that will be excluded when determining the Performance Rate on the End Date for certain Indexed Accounts, if the Percentage Change in the Index Value on that End Date is negative. The Performance Rate is determined as described in any Indexed Accounts Rider attached to this Contract. The Protection Level is expressed as a positive percentage.

**PURCHASE PAYMENT** -- Amounts paid into this Contract by the Owner as consideration for the benefits provided under this Contract.

**SEGMENT(S)** -- The specific Indexed Account option(s) established for the Owner under this Contract as described in any Indexed Accounts Rider attached to this Contract. A new Segment is established when an allocation or a reallocation is made to an Indexed Account.

**SEGMENT ENDING VALUE** -- The value of a Segment of a particular Indexed Account under this Contract on its End Date. The method for determining the Segment Ending Value for a Segment of a particular Indexed Account is described in any Indexed Accounts Rider attached to this Contract.

**SEPARATE ACCOUNT** -- A non-registered, non-insulated Separate Account, established by Us under New York Law, in which We hold the reserves for Our obligations for the Indexed Accounts available under the Contract. The Separate Account is not registered as an investment company with the U.S. Securities and Exchange Commission (SEC) under the Investment Company Act of 1940. We own the assets held in the Separate Account and the Owner does not participate in the performance of such assets. The name of the Separate Account is shown on the Contract Specifications.

**SERVICING OFFICE** -- The office where servicing of this Contract takes place as shown on the cover page of this Contract.

**START DATE** -- The Valuation Date on which the Term for a Segment begins.

**SURRENDER VALUE** -- Value on the Valuation Date of Surrender which is equal to:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the sum of the values of any Segment(s) attributable to this Contract on a given Valuation Date;
minus

&nbsp;&nbsp;&nbsp;&nbsp;(b) any Taxes payable by Us and not previously deducted.

**TERM** -- The period beginning on the Start Date of a Segment to the End Date.

**VALUATION DATE** -- Close of the market of each day that the New York Stock Exchange is open for business. A Valuation Date generally ends at 4:00 pm Eastern Time but may close earlier on certain days and as conditions warrant. We process

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any instructions or transactions We receive after the close of any Valuation Date on the next Valuation Date.

**YOU, YOUR** -- The Owner and any joint Owner.

**GENERAL PROVISIONS**

**PAYMENT OF SINGLE PURCHASE PAYMENT.** The Single Purchase Payment is payable to Us at Our Servicing Office.

No subsequent Purchase Payment is permitted after the Contract Date. The amount of the Single Purchase Payment is shown on the Contract Specifications.

**ENTIRE CONTRACT.** This Contract is issued in consideration of the Single Purchase Payment received by Us on or before the Contract Date. This Contract, the attached application and any attached riders, amendments, or endorsements constitute the entire Contract between the Owner and Us.

All statements made by or under the authority of the applicant for the issuance of this Contract shall, be deemed representations and not warranties.

**GENERAL PROVISIONS (continued)**

**CHANGES TO THIS CONTRACT.** Only an authorized Officer of the Company may make or modify any provisions of this Contract. Any such changes or modifications must be provided in a Notice in order to be effective.

**INCONTESTABILITY.** This Contract is incontestable from the Contract Date.

**CONFORMITY WITH FEDERAL LAW AND STATE LAW.** If any provision of this Contract is contrary to any federal law or state law to which it is subject, such provision is amended to conform to that law. This Contract may be modified in order to maintain compliance with applicable provisions or requirements of the law, but no such modification will be effective without the prior approval of the New York State Department of Financial Services. We will obtain Your prior written consent for any change that diminishes Your rights and/or benefits under this contract.

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**OWNERSHIP.** All Owners will be treated as having equal, undivided interests in this Contract, including rights of survivorship. Either Owner, independently of the other, may exercise any Ownership rights in this Contract. The existence of a joint Owner will not operate to continue this Contract upon the death of the first Owner, unless the joint Owner is the spouse of the deceased Owner.

The Owner may transfer all rights and privileges of Ownership. On the effective date of a transfer, the transferee will become the Owner and will have all the rights and privileges of the Owner. The Owner may revoke any transfer of Ownership prior to its effective date. Unless provided otherwise, a transfer will not affect the interest of any Beneficiary designated prior to the effective date of the transfer.

A transfer of Ownership, or a revocation of transfer, must be provided in a Notice to Us at Our Servicing Office. When a Notice to transfer or revocation is received, any allowable change will take effect as of the date the Notice was signed by the Owner, unless otherwise specified by the Owner. The change in Ownership is subject to any payments made or any action taken or allowed by Us before the transfer or the revocation is received by Us.

The age of any named Owner on this Contract must be equal to or less than the Maximum Issue Age shown on the Contract Specifications as of the effective date of the change.

**ANNUITANTS.** Prior to the Annuity Commencement Date, the Owner may name only one Annuitant unless the Owner is a tax-exempt entity, however, in which case the Owner may name one Annuitant or two Joint Annuitants.

If the Owner is a Natural Person, the Owner has the right to change the Annuitant at any time by giving Us Notice of the change. If the Owner is a Non-Natural Person, the Annuitant may not be changed. The age of any named Annuitant on this Contract must be equal to or less than the Maximum Issue Age shown on the Contract Specifications as of the effective date of the change. Change of an Annuitant may affect the Death Benefit as described in the DEATH BENEFITS provisions. A Contingent Annuitant may be named or changed upon Our receipt of the Notice.

On or after the Annuity Commencement Date, the Annuitant or Joint Annuitants may not be changed and any Contingent Annuitant designation is no longer applicable and is terminated.

**ASSIGNMENTS.** This Contract may be assigned or transferred. We will not be bound by any assignment unless Notice of the assignment is provided at Our Servicing Office. The effective date of the assignment will be the date it is signed by the Owner unless otherwise specified by the Owner. The change is subject to any payments made or actions taken or allowed by Us before the assignment is received by Us. We will not be responsible for the validity of any assignment.

Assignment of Qualified Contracts is permitted unless restricted by the Internal Revenue Code.

**PROOF OF AGE.** Payment will be subject to proof of age, which may be satisfied with a certified copy of a birth certificate, or any other proof We determine acceptable.

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**EVIDENCE OF SURVIVAL.** We may require proof that the Annuitant on whose life the Annuity Payment is based is alive when each payment is due.

**LOANS.** Loans are not permitted under this Contract.

**GENERAL PROVISIONS (continued)**

**OWNERSHIP OF THE ASSETS.** We have exclusive and absolute ownership and control of Our assets, including all assets in the Separate Account.

**MISSTATEMENT OF AGE.** If the age of the Annuitant has been misstated, the amount payable under this Contract will be adjusted to the amount of income that would have been purchased for the correct age on the Contract Date. Proof of Age may be required at any time.

If We made any overpayments because of misstatement, the dollar amount of any overpayment will be deducted from the current or succeeding Annuity Payments due under this Contract. The dollar amount of any underpayment made by Us because of misstatement, will be paid in full with the next payment due under this Contract.

Any adjustment for overpayment or underpayment will include interest charged or credited, as applicable, at an interest rate of 1% per year, compounded annually.

**MINIMUM BENEFITS.** Any paid-up annuity, Surrender Value or Death Benefit that may be available under this Contract will never be less than the minimum benefits required by the state in which this Contract is delivered or issued for delivery. Minimum benefits will be increased to reflect any guaranteed additional amounts credited to this Contract and will be decreased by prior Withdrawals.

**PROTECTION AGAINST CREDITORS.** To the extent permitted by law, proceeds are protected from the claims of creditors.

**STATEMENTS.** Prior to the Annuity Commencement Date, at least once each Calendar Year, We will furnish a statement to the Owner. The information provided in the statement will be as of a date no more than four months prior to the date of mailing.

The statement will contain at least the following information:

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&nbsp;&nbsp;&nbsp;&nbsp;(a) the beginning and ending dates of the current statement period; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Contract Value at the beginning and end of the current statement period; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) the amounts credited to and deducted from the Contract Value during the current statement period, including
Withdrawals; and

&nbsp;&nbsp;&nbsp;&nbsp;(d) the Interim Value or Segment Ending Value of each Segment on the ending date of the current statement
period, as applicable; and

&nbsp;&nbsp;&nbsp;&nbsp;(e) the Death Benefit amount at the end of the current statement period.

**TAXES.** We reserve the right to deduct any Taxes paid by Us to any governmental entity relating to this Contract, including but not limited to: federal tax, state tax, premium tax and any other Taxes required by law. We will, at Our discretion, determine when Taxes relate to this Contract. Taxes may result from Our receipt of the Single Purchase Payment, when a Withdrawal or Surrender is made, this Contract is annuitized or a Death Benefit is paid. We may, at Our discretion, pay Taxes when due and make a deduction at a later date. Payment at an earlier date does not waive Our right to make a deduction at a later date.

**CONTRACT VALUE**

The initial Contract Value is equal to the Single Purchase Payment shown on the Contract Specifications.

The Contract Value at the beginning of each Contract Date Anniversary prior to the Annuity Commencement Date, equals:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the sum of the values of all Segments attributable to this Contract on a given Valuation Date; less

&nbsp;&nbsp;&nbsp;&nbsp;(b) any adjustments for Withdrawals and Taxes made on the first Valuation Date of such Contract Year.

The Contract Value on a Valuation Date between Contract Date Anniversaries equals the sum of the values of all Segments attributable to this Contract on that Valuation Date.

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**INDEXED ACCOUNTS**

**THE INDEXED ACCOUNTS.** Indexed Accounts are shown on the Indexed Accounts Specifications.

All or a portion of the assets supporting the Indexed Accounts are held in the Separate Account shown on the Contract Specifications.

We offer each Indexed Account at Our discretion and reserve the right to offer additional Indexed Accounts after the Contract Date. We reserve the right to withdraw an Indexed Account, but We will always make at least one Indexed Account available under this Contract. If an Indexed Account is added or withdrawn, We will notify the Owner.

Should We withdraw an Indexed Account and a Segment of that Indexed Account has not yet reached its End Date, the Segment will not terminate until its End Date, but such Indexed Account may not be available under this Contract thereafter.

**DISCONTINUATION OF OR SUBSTANTIAL CHANGE TO AN INDEX.** If an Index is discontinued, substantially changes, or upon Our sole discretion, We determine that Our use of the Index should be discontinued, We will substitute a comparable alternative Index. Any substitution of an Index is subject to approval by the New York State Department of Financial Services. We will notify the Owner of such changes.

**VALUATION OF A SEGMENT OF AN INDEXED ACCOUNT.** The value of a Segment on the Start Date (including the Contract Date) is equal to the Crediting Base on that Valuation Date. On each Valuation Date other than the Start Date and the End Date, the value of a Segment is equal to the Segment Interim Value. On the End Date, the value of a Segment is equal to the Segment Ending Value.

A Segment will terminate on the Valuation Date that the Crediting Base is reduced to $0 due to any Withdrawals.

**INITIAL ALLOCATIONS TO A SEGMENT.** An allocation to establish an initial Segment to an available Indexed Account under this Contract occurs on the Contract Date. Allocation percentages for each Segment must be a whole number ranging from 0% to 100%. The sum of the allocation percentages must equal 100%.

**REALLOCATIONS**

After the Contract Date and prior to the Annuity Commencement Date, reallocation of Segment Ending Value to establish a new Segment may be elected to be effective on an Indexed Anniversary Date. Reallocation of Interim

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Value from a multi-year Segment, during its Term, to an available Indexed Account to establish a new Segment may be elected to be effective on an Indexed Anniversary Date. Segments of certain Indexed Accounts may not be available or may vary during and after the first 6 Contract Years.

We will process each reallocation Request pursuant to the Owner's instructions. The Owner's instructions for new reallocations must be received in Good Order within the period shown in the Contract Specifications under Reallocation Instructions.

No reallocation can be made:

&nbsp;&nbsp;&nbsp;&nbsp;(a) to an existing Segment after its Start Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) to a new Segment after the Owner's election of an Annuity Payment Option.

More than one Segment may be established on the same Valuation Date. However, after the first Indexed Anniversary Date, a Segment greater than one year can be established only on the Indexed Anniversary Dates that coincide with the duration of the Term. For example, after the first Indexed Anniversary Date, a Segment with a 6-year Term may only be established on every sixth Indexed Anniversary Date.

Within the period shown on the Contract Specifications under Notice, We will notify the Owner of the next Indexed Anniversary Date. If We receive the Owner's instructions within such period, We will process any new reallocations on that Indexed Anniversary Date, pursuant to the instructions We received.

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**REALLOCATIONS (continued)**

If no instructions are received at Our Servicing Office within the period shown in the Contract Specifications under Reallocation Instructions:

&nbsp;&nbsp;&nbsp;&nbsp;(a) We will renew an ending Segment to the same Indexed Account and establish a Segment with the same Term;
or

&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Segment with the same Term is available but the Term goes beyond the Annuity Commencement Date,
We may select an available Segment with a Term that ends closest to but before the Annuity Commencement Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) the Segment Ending Value of an ending Segment of an Indexed Account We have withdrawn will be automatically
reallocated to an available Segment chosen by Us.

**WITHDRAWALS**

The Owner may withdraw a portion of the Contract Value at any time by providing Notice to Us, prior to the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) termination of this Contract upon payment of any Death Benefit; or

&nbsp;&nbsp;&nbsp;&nbsp;(c) Surrender of this Contract.

Withdrawals will be subject to the Withdrawal Requirements shown on the Contract Specifications.

Amounts withdrawn will be processed at a Segment's value as of the Valuation Date the Notice for the Withdrawal is executed. The Request may specify from which Indexed Account the Withdrawal will be made. In the absence of the Owner's instructions, the Withdrawal will be deducted proportionately first from any Segment with a one-year Term, and lastly from any Segment with a Term greater than one year.

The Crediting Base for each Segment in effect under this Contract will be reduced proportionately by the amount that the Withdrawal reduced the Segment's Interim Value.

**SURRENDERS**

The Owner may surrender this Contract for its Surrender Value at any time by providing Notice, prior to the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement Date; or

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&nbsp;&nbsp;&nbsp;&nbsp;(b) termination of this Contract upon payment of any Death Benefit.

This Contract will terminate upon Surrender. The Surrender will be effective on the Valuation Date on which We receive Notice of Surrender.

We reserve the right to surrender this Contract if any Withdrawal reduces the total Contract Value to an amount less than the minimum nonforfeiture amount required by the New York State Department of Financial Services. In no event will the amount payable on a Surrender be less than the minimum nonforfeiture amount required by the New York State Department of Financial Services.

**SUSPENSION OR DEFERRAL OF PAYMENTS**

**SUSPENSION OR DEFERRAL OF PAYMENTS FROM THE SEPARATE ACCOUNT.** We reserve the right to suspend or postpone payments for a withdrawal or surrender for any period when:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the New York Stock Exchange is closed (other than customary weekend and holiday closings);

&nbsp;&nbsp;&nbsp;&nbsp;(b) trading on the New York Stock Exchange is restricted;

&nbsp;&nbsp;&nbsp;&nbsp;(c) an emergency exists as a result of which disposal of securities held in the Separate Account is not reasonably
practicable or it is not reasonably practicable to determine the value of the Separate Account's net assets; or

&nbsp;&nbsp;&nbsp;&nbsp;(d) during any other period when the Securities and Exchange Commission, by order, so permits for the protection
of the Owner.

**DEATH BENEFITS**

**ADDITIONAL TAX INFORMATION.** Notwithstanding any provision of this Contract to the contrary, the payment of Death Benefits provided under this Contract will be paid in accordance with Code Section 72(s) or 401(a)(9) as applicable, as amended. For purposes of applying the rules of Code Section 72(s)(6) if the Owner is a Non-Natural Person, We will apply the Annuitant death rules set forth in these DEATH BENEFITS provisions.

If this Contract is issued other than as a non-Qualified contract, distribution provisions of the qualified retirement plan endorsement attached to this Contract may amend and replace certain provisions of this Contract.

**DEATH BEFORE THE ANNUITY COMMENCEMENT DATE.** If there is a single Owner, then upon the death of the Owner before the Annuity Commencement Date, We will pay a Death Benefit to the designated Beneficiary(s). If the designated

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Beneficiary of the Death Benefit is the surviving spouse of the deceased Owner, the spouse may Request to continue this Contract as the new Owner. Upon the death of the spouse who continued this Contract as the new Owner, We will pay a Death Benefit to the designated Beneficiary(s).

If there are no designated Beneficiaries, We will pay a Death Benefit to the Owner's estate.

If there are two Owners, upon the death of the first Owner before the Annuity Commencement Date, We will pay a Death Benefit to the surviving Owner. If the surviving Owner is the spouse of the deceased Owner, then the spouse may Request to continue this Contract as sole Owner. Upon the death of the Owner who continued this Contract, We will pay a Death Benefit to the designated Beneficiary(s). If there are no designated Beneficiaries, We will pay a Death Benefit to the Owner's estate.

If the Annuitant is also an Owner, then the Death Benefit paid upon the death of the Annuitant will be subject to these DEATH BENEFITS provisions regarding death of an Owner. If the surviving spouse of the deceased Annuitant assumes this Contract, the Contingent Annuitant, if any, will become the Annuitant. If there is no named Contingent Annuitant, the surviving spouse will become the Annuitant.

If an Annuitant who is not an Owner dies, then the Contingent Annuitant, if named, becomes the Annuitant and no Death Benefit is payable on the death of the Annuitant.

If an Annuitant who is not an Owner dies and no Contingent Annuitant is named, the youngest Owner immediately becomes the Annuitant and this Contract continues. In lieu of continuing this Contract, the Owner may Request to receive a Death Benefit (in equal shares, if there is more than one Owner). Election to receive the Death Benefit must be received by Us within 75 days of the death of the Annuitant. This Contract will terminate when any Death Benefit is paid due to the death of the Annuitant.

If the Owner is a Non-Natural Person, the death of the Annuitant will be treated as the death of the Owner.

The Death Benefit will be paid upon approval by Us and after We are in receipt of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Due Proof of death; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all claim forms in Good Order at Our Servicing Office.

**DETERMINATION OF DEATH BENEFIT AMOUNTS BEFORE THE ANNUITY COMMENCEMENT DATE.** If the Death Benefit shown in the Contract Specifications is an option other than the Contract Value Death Benefit, the Death Benefit payable is determined as described in a death benefit rider attached to this Contract. The Contract Value Death Benefit is equal to the Contract Value on the Valuation Date the Death Benefit is approved by Our Servicing Office for payment.

Upon the death of an Owner or Annuitant, if a surviving spouse continues this Contract, the excess, if any, of the Death Benefit over the current Contract Value as of the date on which We approve the death claim for payment will be credited into this Contract. Any excess will only be credited one time for each contract.

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**DEATH BENEFITS (continued)**

If the Owner is a Non-Natural Person and there are Joint Annuitants, upon the death of the first Joint Annuitant to die, if this Contract is continued, the excess, if any, of the Death Benefit over the current Contract Value as of the date on which We approve the death claim for payment will be credited into this Contract. Any excess will only be credited one time for each contract.

**PAYMENT OF DEATH BENEFIT AMOUNTS BEFORE THE ANNUITY COMMENCEMENT DATE.** The Death Benefit payable on the death of the Owner, or after the death of the first Owner, or upon the death of the spouse who continues this Contract, will be distributed to the designated Beneficiary(s) as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Death Benefit must be completely distributed within five years of the Owner's date of death;
or

&nbsp;&nbsp;&nbsp;&nbsp;(b) an Election may be made within the one-year period after the Owner's date of death for the designated
Beneficiary, to receive the Death Benefit in substantially equal installments over the life of such designated Beneficiary or over a period
not extending beyond the life expectancy of such designated Beneficiary, provided that such distributions begin no later than one year
after the Owner's date of death. If no Election is made, the Death Benefit will be distributed in a lump sum.

Election to pay the Death Benefit upon the death of the Annuitant who is not an Owner, must be chosen by the Owner within 75 days of the death of the Annuitant, and will be distributed to the Owner in either form of a lump sum or under an Annuity Payment Option. An Annuity Payment Option must be chosen within 60 days after We approve the death claim. If such Election to receive the Death Benefit is not made, this Contract will continue as described in the DEATH BEFORE THE ANNUITY COMMENCEMENT DATE provision above.

Upon the Annuity Commencement Date, the Death Benefit will terminate.

**DEATH ON OR AFTER THE ANNUITY COMMENCEMENT DATE.** Upon receipt of Due Proof of death of the Annuitant, any remaining annuity benefits payable will continue to be distributed under the Annuity Payment Option then in effect.

Upon the death of the Owner, any remaining Annuity Payments will be made at least as rapidly as the Annuity Payment Option then in effect. Upon the death of the Owner, the rights of Ownership granted by this Contract will pass to the surviving Owner, if any, otherwise to the Beneficiary.

If there is no named Beneficiary at the time of a sole Owner's death, then the rights of Ownership will pass to the Annuitant, if still living, otherwise to the Joint Annuitant, if applicable. If no named Beneficiary, Annuitant or Joint Annuitant survives the Owner, any remaining payments payable will continue to the Owner's estate.

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**BENEFICIARY**

**DESIGNATION OF BENEFICIARY.** The Owner may designate a primary Beneficiary and a contingent Beneficiary; one or more may be in each category. Except as described below, any Death Benefit proceeds will be paid to surviving primary Beneficiaries. If no primary Beneficiary survives, payment will be made to the contingent Beneficiaries.

Prior to the Annuity Commencement Date, if there is a single Owner, the designated Beneficiary will receive the Death Benefit proceeds upon the death of the Owner, unless the Beneficiary is the surviving spouse and requests to continue this Contract.

Prior to the Annuity Commencement Date, if there are two Owners, upon the death of the first Owner, the surviving Owner will receive the Death Benefit proceeds. The surviving Owner will be treated as the primary Beneficiary. Any other primary Beneficiary designation on record at the time of death will be treated as a contingent Beneficiary.

Prior to the Annuity Commencement Date, if the surviving spouse of a deceased Owner continues this Contract as the sole Owner, then the contingent Beneficiaries will become the new primary Beneficiaries, unless or until the surviving spouse, as the new Owner, changes or elects new Beneficiaries.

**BENEFICIARY (continued)**

Prior to the Annuity Commencement Date, if the Annuitant dies and a Death Benefit is paid, the Owner will be treated as the primary Beneficiary. Any other primary Beneficiary on record at the time of death will be treated as a contingent Beneficiary.

Unless otherwise stated in the Beneficiary designation, multiple Beneficiaries of the same class are presumed to share equally.

**CHANGE OF BENEFICIARY.** The Owner may change any Beneficiary by providing a Notice to change Beneficiary. An Irrevocable Beneficiary may be changed when the Owner provides a Notice and written consent from the Irrevocable Beneficiary; or Notice from the Owner upon the death of the Irrevocable Beneficiary.

A change of Beneficiary will revoke any previous designation and will take effect as of the date the Notice was signed, unless otherwise specified by the Owner, subject to any payment made or action taken or allowed before the change of Beneficiary is received by Us.

**DEATH OF BENEFICIARY.** Unless otherwise provided in the Beneficiary designation, if any primary Beneficiary dies before the Owner, that Beneficiary's interest will go to any other primary Beneficiaries named, according to their respective interests. If there are no other primary Beneficiaries named, the deceased primary Beneficiary's share will pass to the

24-50091 19 <br> <br> NY

contingent Beneficiaries, if any, according to their respective interests. Prior to the Annuity Commencement Date, if no primary Beneficiary or contingent Beneficiary survives the Owner, the Death Benefit will be paid to the Owner's estate.

Unless otherwise provided in the Beneficiary designation, once a Beneficiary is receiving Death Benefits or Annuity Payments under an Annuity Payment Option, the Beneficiary may name a Beneficiary to receive any remaining benefits due under this Contract, should the original Beneficiary die prior to receipt of all benefits.

A Beneficiary receiving Death Benefits or Annuity Payments under this Contract may name a Beneficiary to receive any remaining payments upon the death of the Beneficiary currently receiving payments. If the Beneficiary receiving payments dies and has not named a Beneficiary, then any remaining benefits will be paid to the Beneficiary's estate. A Beneficiary designation must be made by Notice to Us.

24-50091 20 <br> <br> NY

**ANNUITY PAYMENT OPTIONS**

**ANNUITY PAYMENTS.** Annuity Payments will commence on the Annuity Payment Date. Payments are made under the Annuity Payment Option selected. The Annuity Commencement Date is selected by the Owner. The Owner may change the Annuity Commencement Date up to 30 days before the scheduled Annuity Commencement Date by providing Notice to Us. The change will take effect on the date We receive Your Notice.

An Election to receive payments under an Annuity Payment Option must be made by the Maturity Date shown on the Contract Specifications. However, the Owner may Request to receive payments under an Annuity Payment Option any time after the first Contract Date Anniversary.

Annuity Payments available on the Maturity Date will not be less than benefits that would be paid if the accumulated value were used to purchase a single premium immediate annuity contract offered by Us on the Maturity Date to the same class of Annuitants for the same Annuity Payment Option.

**ELECTION OF ANNUITY PAYMENT OPTION BY OWNER.** Prior to the Annuity Commencement Date, the Owner may choose or change any Annuity Payment Option to an Annuity Payment Option We have available at the time of Election. In addition, the Owner may select an Annuity Payment Option that meets the requirements of Code Section 72(s) for payment of the Death Benefit to a Beneficiary as set forth in the PAYMENT OF DEATH BENEFIT AMOUNTS BEFORE THE ANNUITY COMMENCEMENT DATE provision. Election of an Annuity Payment Option must be made and received by Us prior to the Annuity Commencement Date. The Notice will take effect on the date the Notice is signed, subject to any payments made or action taken or allowed by Us before the Notice is received by Us.

The Owner may change or revoke any such Election by providing Notice to Our Servicing Office unless such Election was made irrevocable.

**ELECTION OF ANNUITY PAYMENT OPTION BY BENEFICIARY.** If the Owner has not previously chosen an Annuity Payment as the distribution option for the payment of the Death Benefit to a Beneficiary, then at the time proceeds are payable to a Beneficiary, a Beneficiary may choose any Annuity Payment Option that meets the requirements of Code Section 72(s) for payment of the Death Benefit to a Beneficiary as set forth in the PAYMENT OF DEATH BENEFIT AMOUNTS BEFORE THE ANNUITY COMMENCEMENT DATE provision. The Beneficiary then becomes the Annuitant.

**ANNUITY PAYMENT OPTIONS AVAILABLE UNDER THIS CONTRACT.** A Notice to Us is required to choose an Annuity Payment Option.

Annuity Payment Options available under this Contract are listed below. Additional Annuity Payment Options, however, may be available. Please contact Our Servicing Office for more information.

&nbsp;&nbsp;&nbsp;&nbsp;(a) **LIFE ANNUITY.** Annuity Payments will be made for the lifetime of the Annuitant and will cease with
the last payment due prior to the death of the Annuitant.

(b) **LIFE ANNUITY WITH PERIOD CERTAIN.** Annuity Payments will be made for the greater of the lifetime

24-50091 21 <br> <br> NY

of the Annuitant and a specified period the Owner selected. If the Annuitant dies prior to the end of this specified period, the Beneficiary will receive the remaining guaranteed payments at least as rapidly as under the method of distribution being used as of the date of the Annuitant's death. The guaranteed payments will automatically cease as of the end of the specified period.

&nbsp;&nbsp;&nbsp;&nbsp;(c) **JOINT LIFE ANNUITY.** Annuity Payments will be made during the joint life of the Annuitant and a
Joint Annuitant. We will pay equal benefit payments while either of the Annuitants is living. Upon the death of either Annuitant, We will
continue the Annuity Payments for the life of the surviving Annuitant. Benefit payments will automatically cease upon the death of the
last Annuitant.

&nbsp;&nbsp;&nbsp;&nbsp;(d) **JOINT LIFE ANNUITY WITH PERIOD CERTAIN.** Annuity Payments will be made during the joint life of
the Annuitant and a Joint Annuitant. We will pay equal benefit payments for a specified period the Owner selected. If an Annuitant is
living at the end of the specified period, We will continue the Annuity Payments while an Annuitant is living. Benefit payments will automatically
cease upon the death of the last Annuitant.

If no Annuity Payment Option is selected, Life Annuity with a Period Certain of 10 years payable monthly becomes effective.

24-50091 22 <br> <br> NY

**ANNUITY PAYMENT OPTIONS (continued)**

**DETERMINATION OF THE AMOUNT OF THE FIRST ANNUITY PAYMENT.** The amount of Annuity Payment will depend on the age of the Annuitant as of the Annuity Commencement Date.

The first Annuity Payment amount depends on the Annuity Payment Option and the payment frequency elected. A choice may be made to receive Annuity Payments on a monthly, quarterly, semi-annual, or annual basis. If no choice is made, payments will automatically be made monthly. The Annuity Payment Date will be within 30 days of the Annuity Commencement Date, unless otherwise agreed to between Us and the Owner.

The minimum payment amounts and age adjustments that will be used to determine the monthly payments for an Annuity Payment are shown on the Contract Specifications under the PAYMENT OPTION TABLES.

**MINIMUM ANNUITY PAYMENT REQUIREMENTS.** If the first Annuity Payment would be less than the Minimum Monthly Annuity Payment Amount shown on the Contract Specifications or if the Contract Value on the Annuity Commencement Date is less than the Minimum Contract Value shown on the Contract Specifications, We reserve the right to pay the Contract Value in a lump sum and terminate the Contract.

**CHANGE IN ANNUITY PAYMENT OPTION.** The Annuity Payment Option may not be changed after the Annuity Commencement Date.

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24-50091 24 <br> <br> NY

**LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK**

**ANNUITY CONTRACT**

**INDIVIDUAL SINGLE PURCHASE PAYMENT INDEX-LINKED DEFERRED ANNUITY CONTRACT**

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## Ex-99.B(D)(4)

**Exhibit 99.B(d)(4)**

**CONTRACT SPECIFICATIONS**

---

| | |
|:---|:---|
| **Contract Number:** | XX-0123456 |
| **Contract Date:** | December 20, 2024 |
| **Owner(s):** | Abraham Lincoln |
| **Annuitant:** | Abraham Lincoln |
| **Age at Issue:** | 76 |
| **Maximum Issue Age:** | 85 |
| **Single Purchase Payment:** | $50000 |
| **Maturity Date:** | June 20, 2047 |
| **Beneficiary Designation on the Contract Date:** | As named by the Owner |
| **Death Benefit on the Contract Date:** | Contract Value Death Benefit |

---

**SEPARATE ACCOUNT:** Lincoln Life & Annuity Company of New York Separate Account 7 is the Separate Account that contains all or a portion of the assets supporting the Segments of the Indexed Accounts.

**REALLOCATION REQUIREMENTS PRIOR TO THE ANNUITY COMMENCEMENT DATE**

**Minimum Single Reallocation to an Indexed Account:** $2,000

**Notice.** We will send the Owner a Notice 25 calendar days prior to an Indexed Anniversary Date.

**Reallocation Instructions.** Owner's instructions must be received in Good Order no later than the 2<sup>nd</sup> calendar day prior to an Indexed Anniversary Date.

**WITHDRAWAL REQUIREMENTS**

**Minimum Withdrawal Amount:** $300

**ANNUITY PAYMENT REQUIREMENTS:**

**Minimum Monthly Annuity Payment Amount:** $50

**Minimum Contract Value:** $2,000

24CS-50091 Page 3.X <br> NY

**CONTRACT SPECIFICATIONS (continued)**

**PAYMENT OPTION TABLES**

**BASIS OF CALCULATION FOR ANNUITY PAYMENT OPTIONS**. The Payment Option Tables illustrate the minimum guaranteed monthly payments purchased per $1,000 of Contract Value, after deduction of any applicable Taxes. The actuarial basis for the Payment Option Tables is the 2012 Individual Annuity Basic Mortality Table (Age Last Birthday) with improvement to year 2040 using Projection Scale G2 with an annual interest rate of 1.00%. Minimum guaranteed monthly payments are calculated using female mortality rates for the Annuitant and male mortality rates for the Joint Annuitant, if applicable. The Age Adjustment Table applies mortality improvements based on year of birth. The age used to determine the first monthly annuity payment amount in the table below is equal to attained age plus the adjustment to age value based on year of birth of the Annuitant (for Joint and Survivor Annuities the youngest Annuitant's attained age and year of birth are used in the tables below).

**GUARANTEED PURCHASE RATES.** Minimum payment amounts for ages and options not shown in the PAYMENT OPTION TABLES provisions of this Contract can be obtained from Our Servicing Office. Any benefits paid under this Contract will not be less than those required by the New York Insurance Law.

---

| | | | |
|:---|:---|:---|:---|
| **DOLLAR AMOUNT OF FIRST MONTHLY ANNUITY PAYMENT WHICH IS PURCHASED WITH EACH $1,000 <br> APPLIED** | **DOLLAR AMOUNT OF FIRST MONTHLY ANNUITY PAYMENT WHICH IS PURCHASED WITH EACH $1,000 <br> APPLIED** | **DOLLAR AMOUNT OF FIRST MONTHLY ANNUITY PAYMENT WHICH IS PURCHASED WITH EACH $1,000 <br> APPLIED** | **DOLLAR AMOUNT OF FIRST MONTHLY ANNUITY PAYMENT WHICH IS PURCHASED WITH EACH $1,000 <br> APPLIED** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SINGLE LIFE ANNUITIES** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SINGLE LIFE ANNUITIES** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SINGLE LIFE ANNUITIES** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SINGLE LIFE ANNUITIES** |
| Age | No Period Certain | 120 Months Certain | 240 Months Certain |
| 60 | $3.30 | $3.27 | $3.18 |
| 61 | 3.39 | 3.36 | 3.25 |
| 62 | 3.48 | 3.45 | 3.33 |
| 63 | 3.59 | 3.55 | 3.40 |
| 64 | 3.70 | 3.65 | 3.48 |
| 65 | 3.81 | 3.76 | 3.56 |
| 66 | 3.93 | 3.88 | 3.65 |
| 67 | 4.07 | 4.00 | 3.73 |
| 68 | 4.21 | 4.13 | 3.81 |
| 69 | 4.36 | 4.27 | 3.90 |
| 70 | 4.52 | 4.42 | 3.98 |
| 71 | 4.70 | 4.57 | 4.05 |
| 72 | 4.89 | 4.74 | 4.13 |
| 73 | 5.09 | 4.92 | 4.20 |
| 74 | 5.32 | 5.10 | 4.26 |
| 75 | 5.56 | 5.30 | 4.32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**JOINT AND SURVIVOR ANNUITIES** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**JOINT AND SURVIVOR ANNUITIES** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**JOINT AND SURVIVOR ANNUITIES** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**JOINT AND SURVIVOR ANNUITIES** |
| Joint and Full to Survivor Certain Period | Joint and Full to Survivor Certain Period | Joint and Full to Survivor Certain Period | Joint and Full to Survivor Certain Period |
| Joint Age |  | 120 | 240 |
| 60 | $2.90 | $2.90 | $2.89 |
| 61 | 2.97 | 2.97 | 2.96 |
| 62 | 3.05 | 3.05 | 3.03 |
| 63 | 3.13 | 3.13 | 3.11 |
| 64 | 3.22 | 3.21 | 3.19 |
| 65 | 3.31 | 3.30 | 3.27 |
| 66 | 3.40 | 3.40 | 3.36 |
| 67 | 3.51 | 3.50 | 3.45 |
| 68 | 3.62 | 3.61 | 3.54 |
| 69 | 3.73 | 3.73 | 3.64 |
| 70 | 3.86 | 3.85 | 3.74 |
| 71 | 4.00 | 3.99 | 3.83 |
| 72 | 4.14 | 4.13 | 3.93 |
| 73 | 4.30 | 4.28 | 4.02 |

---

24CS-50091 Page 3.X <br> NY

---

| | | | |
|:---|:---|:---|:---|
| 74 | 4.47 | 4.45 | 4.11 |
| 75 | 4.65 | 4.63 | 4.19 |
| **AGE ADJUSTMENT TABLE** | **AGE ADJUSTMENT TABLE** | **AGE ADJUSTMENT TABLE** | **AGE ADJUSTMENT TABLE** |
| Year of Birth | Adjustment to Age | Year of Birth | Adjustment to Age |
| Before 1920 | 0 | 1970-1979 | -2 |
| 1920-1929 | 0 | 1980-1989 | -3 |
| 1930-1939 | 0 | 1990-1999 | -4 |
| 1940-1949 | 0 | 2000-2009 | -5 |
| 1950-1959 | 0 | 2010-2019 | -6 |
| 1960-1969 | -1 |  |  |

---

24CS-50091 Page 3.X <br> NY

## Ex-99.B(D)(5)

**Exhibit 99.B(d)(5)**

**INDEXED ACCOUNTS SPECIFICATIONS**

**Indexed Accounts are subject to availability and may change for future Terms.** 

**\*Minimum rates apply at the beginning of each Term.**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**PERFORMANCE CAP INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP INDEXED ACCOUNTS** |
| &nbsp;&nbsp; <br> **Index** | **Term** | &nbsp;&nbsp;**Protection<br> Level** | **Minimum<br> Performance<br> Cap\*** | &nbsp;&nbsp; <br> **Index** | &nbsp;&nbsp;**Term** | &nbsp;&nbsp;**Term** | &nbsp;&nbsp;**Protection Level** | &nbsp;&nbsp;**Minimum<br> Performance<br> Cap\*** |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% | &nbsp;&nbsp;Russell 2000<sup>®</sup> Price Return <br> Index <sup>2</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;15% | &nbsp;&nbsp;4.50% | &nbsp;&nbsp;Russell 2000<sup>®</sup> Price Return <br> Index <sup>2</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;20% | &nbsp;&nbsp;4.00% | &nbsp;&nbsp;Russell 2000<sup>®</sup> Price Return <br> Index <sup>2</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;10% | &nbsp;&nbsp;30.00% | &nbsp;&nbsp;Russell 2000<sup>®</sup> Price Return <br> Index <sup>2</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;10% | &nbsp;&nbsp;30.00% |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;15% | &nbsp;&nbsp;27.00% | &nbsp;&nbsp;Russell 2000<sup>®</sup> Price Return <br> Index <sup>2</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;15% | &nbsp;&nbsp;27.00% |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;25% | &nbsp;&nbsp;21.00% | &nbsp;&nbsp;Russell 2000<sup>®</sup> Price Return <br> Index <sup>2</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;15% | &nbsp;&nbsp;27.00% |
| &nbsp;&nbsp;First Trust American Leadership Index<sup>TM 3</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% | &nbsp;&nbsp;Capital Strength Net Fee Index<sup>4</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |
| &nbsp;&nbsp;First Trust American Leadership Index<sup>TM 3</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;15% | &nbsp;&nbsp;4.50% | &nbsp;&nbsp;Capital Strength Net Fee Index<sup>4</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;15% | &nbsp;&nbsp;4.50% |
| &nbsp;&nbsp;First Trust American Leadership Index<sup>TM 3</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;10% | &nbsp;&nbsp;30.00% | &nbsp;&nbsp;Capital Strength Net Fee Index<sup>4</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;10% | &nbsp;&nbsp;30.00% |
| &nbsp;&nbsp;First Trust American Leadership Index<sup>TM 3</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;15% | &nbsp;&nbsp;27.00% | &nbsp;&nbsp;Capital Strength Net Fee Index<sup>4</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;15% | &nbsp;&nbsp;27.00% |
| &nbsp;&nbsp;First Trust American Leadership Index<sup>TM 3</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;15% | &nbsp;&nbsp;27.00% | &nbsp;&nbsp;Capital Strength Net Fee Index<sup>4</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;25% | &nbsp;&nbsp;21.00% |
| &nbsp;&nbsp;Nasdaq-100<br> Index<sup>® 5</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |  |  |  |  |  |
| &nbsp;&nbsp;**PERFORMANCE CAP ANNUAL LOCKS INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP ANNUAL LOCKS INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP ANNUAL LOCKS INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP ANNUAL LOCKS INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP ANNUAL LOCKS INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP ANNUAL LOCKS INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP ANNUAL LOCKS INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP ANNUAL LOCKS INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE CAP ANNUAL LOCKS INDEXED ACCOUNTS** |
| &nbsp;&nbsp;**Index** | &nbsp;&nbsp;**Index** | &nbsp;&nbsp;**Term** | &nbsp;&nbsp;**Term** | &nbsp;&nbsp;**Protection Level** | &nbsp;&nbsp;**Protection Level** | &nbsp;&nbsp;**Minimum Performance Cap\*** | &nbsp;&nbsp;**Minimum Performance Cap\*** | &nbsp;&nbsp;**Minimum Performance Cap\*** |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;10% | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% | &nbsp;&nbsp;5.00% | &nbsp;&nbsp;5.00% |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** |
| &nbsp;&nbsp; <br> **Index** | **Term** | &nbsp;&nbsp;**Protection<br> Level** | **Minimum<br> Performance<br> Trigger Rate\*** | &nbsp;&nbsp; <br> **Index** | &nbsp;&nbsp;**Term** | &nbsp;&nbsp;**Protection Level** | &nbsp;&nbsp;**Minimum<br> Performance<br> Trigger Rate\*** |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% | &nbsp;&nbsp;Nasdaq-100<br> Index<sup>®</sup> 5  | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;15% | &nbsp;&nbsp;4.50% | &nbsp;&nbsp;Nasdaq-100<br> Index<sup>®</sup> 5  | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;20% | &nbsp;&nbsp;4.00% | &nbsp;&nbsp;Nasdaq-100<br> Index<sup>®</sup> 5  | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |
| &nbsp;&nbsp;**DUAL PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS** |
| &nbsp;&nbsp; <br> **Index** | **Term** | &nbsp;&nbsp;**Protection<br> Level** | **Minimum Dual<br> Performance<br> Trigger Rate\*** | &nbsp;&nbsp; <br> **Index** | &nbsp;&nbsp;**Term** | &nbsp;&nbsp;**Protection<br> Level** | &nbsp;&nbsp;**Minimum Dual<br> Performance<br> Trigger Rate\*** |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% | &nbsp;&nbsp;Russell 2000<sup>®</sup> Price Return <br> Index <sup>2</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% | &nbsp;&nbsp;Russell 2000<sup>®</sup> Price Return <br> Index <sup>2</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% | &nbsp;&nbsp;Russell 2000<sup>®</sup> Price Return <br> Index <sup>2</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |
| &nbsp;&nbsp;First Trust American Leadership Index<sup>TM 3</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% | &nbsp;&nbsp;Capital Strength Net Fee Index<sup>4</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |
| &nbsp;&nbsp;First Trust American Leadership Index<sup>TM 3</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% | &nbsp;&nbsp;Capital Strength Net Fee Index<sup>4</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |
| &nbsp;&nbsp;First Trust American Leadership Index<sup>TM 3</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% | &nbsp;&nbsp;Capital Strength Net Fee Index<sup>4</sup> | &nbsp;&nbsp;1 Year | &nbsp;&nbsp;10% | &nbsp;&nbsp;5.00% |

---

24CS-5009INDX 3.X <br> NY

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**DUAL RATE PLUS INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL RATE PLUS INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL RATE PLUS INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL RATE PLUS INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL RATE PLUS INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL RATE PLUS INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL RATE PLUS INDEXED ACCOUNTS** | &nbsp;&nbsp;**DUAL RATE PLUS INDEXED ACCOUNTS** |
| &nbsp;&nbsp; <br> **Index** | **Term** | &nbsp;&nbsp;**Dual Rate** | **Minimum<br> Performance<br> Cap\*** | &nbsp;&nbsp; <br> **Index** | &nbsp;&nbsp;**Term** | &nbsp;&nbsp;**Dual Rate** | &nbsp;&nbsp;**Minimum<br> Performance<br> Cap\*** |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;10.00% | &nbsp;&nbsp;30.00% | &nbsp;&nbsp;Russell 2000<sup>®</sup> Price Return Index <sup>2</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;15.00% | &nbsp;&nbsp;27.00% |
| &nbsp;&nbsp;S&P 500<sup>®</sup> Price Return Index <sup>1</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;15.00% | &nbsp;&nbsp;27.00% | &nbsp;&nbsp;Russell 2000<sup>®</sup> Price Return Index <sup>2</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;15.00% | &nbsp;&nbsp;27.00% |
| &nbsp;&nbsp;First Trust American Leadership Index<sup>TM 3</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;15.00% | &nbsp;&nbsp;27.00% | &nbsp;&nbsp;Capital Strength Net Fee Index <sup>4</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;15.00% | &nbsp;&nbsp;27.00% |
| &nbsp;&nbsp;First Trust American Leadership Index<sup>TM 3</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;15.00% | &nbsp;&nbsp;27.00% | &nbsp;&nbsp;Capital Strength Net Fee Index <sup>4</sup> | &nbsp;&nbsp;6 Years | &nbsp;&nbsp;15.00% | &nbsp;&nbsp;27.00% |

---

Indexed-linked returns do not include the portion of returns generated by the underlying Index that come from dividends. The elements used in determining the rate of return from the Index are not guaranteed and may be changed by Us, subject to the guarantees in the Indexed Accounts Rider, and any such changes can affect the return.

**MINIMUM RATES ON THE RESET DATE OF A LOCKED SEGMENT.** 

The following minimum rates will apply on the Reset Date for any Segment where an Interim Value lock has been exercised, as described in the INTERIM VALUE LOCK AND RESET provision in any Indexed Accounts Rider attached to this Contract. These minimum rates are based on the Segment's Protection Level and Contract Years Remaining in the Term on the Reset Date.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**MINIMUM PERFORMANCE CAP FOR LOCKED SEGMENTS** | &nbsp;&nbsp;**MINIMUM PERFORMANCE CAP FOR LOCKED SEGMENTS** | &nbsp;&nbsp;**MINIMUM PERFORMANCE CAP FOR LOCKED SEGMENTS** | &nbsp;&nbsp;**MINIMUM PERFORMANCE CAP FOR LOCKED SEGMENTS** | &nbsp;&nbsp;**MINIMUM PERFORMANCE CAP FOR LOCKED SEGMENTS** | &nbsp;&nbsp;**MINIMUM PERFORMANCE CAP FOR LOCKED SEGMENTS** |
| **Protection Level** | **Contract Years Remaining in the Term** | **Contract Years Remaining in the Term** | **Contract Years Remaining in the Term** | **Contract Years Remaining in the Term** | **Contract Years Remaining in the Term** |
| **Protection Level** | 5 Years | 4 Years | 3 Years | 2 Years | 1 Year |
| 10% | 25.00% | 20.00% | 15.00% | 10.00% | 5.00% |
| 15% | 22.50% | 18.00% | 13.50% | 9.00% | 4.50% |
| 25% | 17.50% | 14.00% | 10.50% | 7.00% | 3.50% |

---

24CS-5009INDX 3.X <br> NY

**INDEXED ACCOUNTS SPECIFICATIONS** 

<sup>1</sup> The S&P 500<sup>®</sup> Price Return Index is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI"),and has been licensed for use by The Lincoln National Life Insurance Company "Lincoln". Standard & Poor's<sup>®</sup>, S&P<sup>®</sup>, and S&P 500<sup>®</sup> are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Lincoln. It is not possible to invest directly in an index. Lincoln's Product(s) are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or any of their respective affiliates (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of Lincoln's Product(s) or any member of the public regarding the advisability of investing in securities generally or in Lincoln's Product(s) particularly or the ability of the S&P 500<sup>®</sup> Price Return Index to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices' only relationship to Lincoln with respect to the S&P 500<sup>®</sup> Price Return Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500<sup>®</sup> Price Return Index is determined, composed and calculated by S&P Dow Jones Indices without regard to Lincoln or Lincoln's Product(s). S&P Dow Jones Indices have no obligation to take the needs of Lincoln or the owners of Lincoln's Product(s) into consideration in determining, composing or calculating the S&P 500<sup>®</sup> Price Return Index. S&P Dow Jones Indices are not responsible for and have not participated in the determination of the prices, and amount of Lincoln's Product(s) or the timing of the issuance or sale of Lincoln's Product(s) or in the determination or calculation of the equation by which Lincoln's Product(s) is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of Lincoln's Product(s). There is no assurance that investment products based on the S&P 500<sup>®</sup> Price Return Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment or tax advisor. A tax advisor should be consulted to evaluate the impact of any tax-exempt securities on portfolios and the tax consequences of making any particular investment decision. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500<sup>®</sup> PRICE RETURN INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY LINCOLN, OWNERS OF LINCOLN'S PRODUCT(S), OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500<sup>®</sup> PRICE RETURN INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBLITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND LINCOLN**,** OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

<sup>2</sup> The Russell 2000<sup>®</sup> Price Return Index (the "Index") is a trademark of Frank Russell Company ("Russell") and has been licensed for use by The Lincoln National Life Insurance Company "Lincoln". Lincoln products are not in any way sponsored, endorsed, sold or promoted by Russell or the London Stock Exchange Group companies ("LSEG") (together the "Licensor Parties") and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the Index (upon which Lincoln's products are based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with Lincoln products. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to Lincoln or to its clients. The Index is calculated by Russell or its agent. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein.

24CS-5009INDX 3.X <br> NY

**INDEXED ACCOUNTS SPECIFICATIONS (continued)**

<sup>3</sup> The First Trust American Leadership Index<sup>TM</sup> ("FTIS Index") is a product of and owned by FT Indexing Solutions LLC ("FTIS"). FIRST TRUST<sup>®</sup> and FIRST TRUST AMERICAN LEADERSHIP INDEX<sup>TM</sup> are trademarks of First Trust Portfolios L.P. (collectively, with FTIS and their respective affiliates, "First Trust"). The foregoing index and trademarks have been licensed for use for certain purposes by Licensee in connection with the Product.

The Dow Jones Internet Composite Index<sup>TM</sup> ("Dow Index") is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by FTIS and Licensee. S&P<sup>®</sup> is a trademark of Standard & Poor's Financial Service LLC. DOW JONES<sup>®</sup> and DOW JONES INTERNET COMPOSITE INDEX are trademarks of Dow Jones Trademark Holdings LLC ("Dow Jones"). The foregoing trademarks have been licensed for use by SPDJI and have been sublicensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and the Product.

The Nasdaq U.S. Rising Dividend Achievers Index<sup>TM</sup> and Nasdaq Technology Dividend Index<sup>TM</sup> are products of Nasdaq, Inc. (which with its affiliates is referred to as the "Nasdaq"). NASDAQ<sup>®</sup>, NASDAQ U.S. RISING DIVIDEND ACHIEVERS INDEX, and NASDAQ TECHNOLOGY DIVIDEND INDEX are trademarks of Nasdaq. The foregoing indices (collectively, the "Nasdaq Indices") and trademarks have been licensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and the Product.

The Nasdaq Riskalyze U.S. Large Cap Select Dividend Index<sup>TM</sup> ("Riskalyze Index") is a product of Riskalyze, Inc. ("Riskalyze"). RISKALYZE<sup>®</sup> and NASDAQ RISKALYZE U.S. LARGE CAP SELECT DIVIDEND INDEX are trademarks of Riskalyze. NASDAQ<sup>®</sup> is a trademark of Nasdaq, Inc. The foregoing index and trademarks have been licensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and the Product.

The Product is not issued, sponsored, endorsed, sold, recommended, or promoted by First Trust, SPDJI, Dow Jones, Nasdaq, Riskalyze, or their respective affiliates (collectively, the "Companies"). The Companies have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to the Product. The Companies make no representation or warranty, express or implied, to the owners of any product based on the FTIS Index, Dow Index, Nasdaq Indices, or Riskalyze Index, or to any member of the public regarding the advisability of investing in securities generally or in products based on the FTIS Index, Dow Index, Nasdaq Indices, or Riskalyze Index particularly, or the ability of the FTIS Index, Dow Index, Nasdaq Indices, or Riskalyze Index to track general stock market performance. The Companies' only relationship to Licensee is in the licensing of the certain trademarks, trade names, and service marks and the use of the FTIS Index, Dow lndex, Nasdaq Indices, and Riskalyze Indices, which are determined, composed and calculated without regard to Licensee or the Product. The Companies have no obligation to take the needs of Licensee, or the owners of the Product, or the sponsors or owners of products based on the FTIS Index, Dow Index, Nasdaq Indices or Riskalyze Index into consideration when determining, composing, or calculating the FTIS Index, Dow lndex, Nasdaq Indices, and Riskalyze Index. The Companies are not responsible for and have not participated in the determination or calculation of the Product. There is no assurances from the Companies that products based on the FTIS Index, Dow lndex, Nasdaq Indices, or Riskalyze Index will accurately track index performance or provide positive investment returns. The Companies are not investment advisors. Inclusion of a security or financial instrument within an index is not a recommendation by the Companies to buy, sell, or hold such security or financial instrument, nor is it considered to be investment advice.

THE COMPANIES DO NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS, COMPLETENESS, AND/OR UNINTERRUPTED CALCULATION OF THE PRODUCT, FTIS INDEX, DOW INDEX, NASDAQ INDICES, RISKALYZE INDEX, OR ANY DATA INCLUDED THEREIN OR ANY COMMUNICATION WITH RESPECT THERETO, INCLUDING, ORAL, WRITTEN, OR ELECTRONIC COMMUNICATIONS. THE COMPANIES SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS IN THE PRODUCT, FTIS INDEX, DOW INDEX, NASDAQ INDICES, OR RISKALYZE INDEX. THE COMPANIES MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE RESULTS TO BE OBTAINED BY OWNERS OF THE PRODUCT OR OF PRODUCTS BASED ON THE FTIS INDEX, DOW INDEX, NASDAQ INDICES, OR RISKALYZE INDEX, OR BY ANY OTHER PERSON OR ENTITY FROM THE USE OF THE FTIS INDEX, DOW INDEX, NASDAQ INDICES, OR RISKALYZE INDEX, OR ANY DATA INCLUDED THEREIN. THE COMPANIES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE PRODUCT, FTIS INDEX, DOW INDEX, NASDAQ INDICES, RISKALYZE INDEX, OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE COMPANIES BE SUBJECT TO ANY DAMAGES OR HAVE ANY LIABILITY FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES OR LOSSES, INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME, OR GOODWILL, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN LICENSEE AND THE COMPANIES.

24CS-5009INDX 3.X <br> NY

**INDEXED ACCOUNTS SPECIFICATIONS (continued)**

<sup>4</sup> The Product(s) is not sponsored, endorsed, sold or promoted by NASDAQ, Inc. or its affiliates (NASDAQ, with its affiliates, are referred to as the "Corporations"). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Product(s). The Corporations make no representation or warranty, express or implied to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly, or the ability of the Capital Strength Net Fee Index to track general stock market performance. The Corporations' only relationship to The Lincoln National Life Insurance Company ("Licensee") is in the licensing of the Nasdaq<sup>®</sup>, Capital Strength Net Fee Index, and certain trade names of the Corporations and the use of the Capital Strength Net Fee Index which is determined, composed and calculated by NASDAQ without regard to Licensee or the Product(s). NASDAQ has no obligation to take the needs of the Licensee or the owners of the Product(s) into consideration in determining, composing or calculating the Capital Strength Net Fee Index. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. The Corporations have no liability in connection with the administration, marketing or trading of the Product(s).

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF THE CAPITAL STRENGTH NET FEE INDEX OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE PRODUCT(S), OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE CAPITAL STRENGTH NET FEE INDEX OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE CAPITAL STRENGTH NET FEE INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

<sup>5</sup> The Product(s) is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its affiliates (Nasdaq, with its affiliates, are referred to as the "Corporations"). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Product(s). The Corporations make no representation or warranty, express or implied to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly, or the ability of the Nasdaq-100 Index<sup>®</sup>, to track general stock market performance. The Corporations' only relationship to The Lincoln National Life Insurance Company ("Licensee") is in the licensing of the Nasdaq<sup>®</sup>, Nasdaq-100 Index<sup>®</sup> and certain trade names of the Corporations and the use of the Nasdaq-100 Index<sup>®</sup> which is determined, composed and calculated by Nasdaq without regard to Licensee or the Product(s). Nasdaq has no obligation to take the needs of the Licensee or the owners of the Product(s) into consideration in determining, composing or calculating the Nasdaq-100 Index<sup>®</sup>. The Corporations are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. The Corporations have no liability in connection with the administration, marketing or trading of the Product(s).

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF THE NASDAQ-100 INDEX<sup>®</sup> OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY LICENSEE, OWNERS OF THE PRODUCT(S), OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE NASDAQ-100 INDEX<sup>®</sup> OR ANY DATA INCLUDED THEREIN. THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE NASDAQ-100 INDEX<sup>®</sup> OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

24CS-5009INDX 3.X <br> NY

## Ex-99.B(D)(6)

**Exhibit 99.B(d)(6)**

**Lincoln Life & Annuity Company of New York**

**INDEXED ACCOUNTS RIDER**

**DUAL PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS WITH <br> PROTECTION LEVEL**

**Rider Date**: December 20, 2024

**This Rider establishes a point-to-point Dual Performance Trigger indexed crediting strategy with Protection Level for the Contract to which it is added. The provisions of this Rider are effective when a new Segment is established upon an initial allocation to or when a reallocation is made to a Dual Performance Trigger Rate Indexed Account with Protection Level.**

This Rider is made a part of the Contract to which it is attached and is effective on the Rider Date shown above. Except as stated in this Rider, it is subject to all provisions contained in the Contract. In case of any conflict between the provisions of the Contract and this Rider, the provisions of this Rider will control.

If another Indexed Accounts Rider is attached to the Contract, the provisions of that Indexed Accounts Rider shall govern the rules of the Segments established upon an allocation to or when a reallocation is made to an Indexed Account available under that Rider.

**ALL CONTRACT VALUES PROVIDED BY THIS RIDER MAY INCREASE OR DECREASE IN VALUE AND ARE NOT GUARANTEED AS TO A FIXED DOLLAR AMOUNT.**

**DEFINITIONS**

All definitions found in the Contract are incorporated by reference and have the same meaning as they do in the Contract, including other riders, endorsements, or amendments.

**Dual Performance Trigger Rate Indexed Account with Protection Level** is an account that We establish, subject to the terms of this Rider. Each Dual Performance Trigger Rate Indexed Account with Protection Level is established with an associated Index, Protection Level and a Term.

**Dual Performance Trigger Rate** is the percentage We will use to determine the Performance Rate when the Percentage Change in the Index Value on the End Date equals zero, is positive or negative. The Dual Performance Trigger Rate used during the Term is declared prior to the Start Date of each Segment and it may differ from the Dual Performance Trigger Rates used for other Segments.

**Segment(s)** is a specific Indexed Account option established for the Owner under the Contract. A new Segment of a Dual Performance Trigger Rate Indexed Account with Protection Level is established upon an initial allocation or when a reallocation is made to that Dual Performance Trigger Rate Indexed Account with Protection Level. Each Segment in a particular Dual Performance Trigger Rate Indexed Account with Protection Level has a specific Start Date, End Date, Crediting Base, Dual Performance Trigger Rate and Performance Rate.

24AR-740 Page X of 4 <br> NY

**INTERIM VALUE**

The Interim Value is the value that We establish for each Segment of a Dual Performance Trigger Rate Indexed Account with Protection Level on any Valuation Date following the Start Date and prior to the End Date of the Segment.

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) is the value of the Fixed Income Asset Proxy of a Segment on the Valuation Date the Interim Value is calculated.
It is determined for a Segment as:

**C** x **[ 1 / (1** + **F)<sup>D</sup> x (1** + **F)<sup>D</sup> / (1** + **G)<sup>D</sup>]**

<u>where</u>:

**C** is the Crediting Base of the Segment on the Valuation Date of the calculation.

**D** is the total calendar days remaining in the Term divided by 365.

---

| | |
|:---|:---|
| **F** | is the Discount Rate that applies to the Segment on the Start Date of the Segment. It is calculated on the Start Date as (1 - Derivative Asset Proxy per $1 of Crediting Base)<sup>-1/N</sup> - 1, where N = the number of Contract Years in the Term. |

---

---

| | |
|:---|:---|
| **G** | is the Discount Rate that applies to the Segment on the Valuation Date. It is calculated as F plus the change in the Reference Rate from the Start Date to the Valuation Date. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) is the market value of the Derivative Asset Proxy, determined solely by Us, on the Valuation Date of the
calculation.

The Fixed Income Asset Proxy is a hypothetical fixed income asset representing the investment in the Segment.

The Derivative Asset Proxy is determined assuming a package of derivative assets and/or other financial instruments, determined solely by Us, that replicates the Performance Rate on the End Date of the Segment. The value of the package of derivative assets and/or other financial instruments is determined on any Valuation Date that the Interim Value is calculated for a Segment.

The Discount Rate will apply on a uniform basis for a class of Owners in the same Segment and will be administered in a uniform and non-discriminatory manner. The Discount Rate F represents the book yield, and the Discount Rate G represents the market yield on the hypothetical fixed income asset based on the Reference Rate.

The Reference Rate is the sum of the U.S. Constant Maturity Treasury (CMT) yield plus a market observable spread of investment grade U.S. corporate bonds.

The tenor of the CMT is determined by the number of Contract Years remaining in the Segment on the Valuation Date. The number of Contract Years remaining is measured from the most recent Indexed Anniversary Date of the Segment, prior or equal to the Valuation Date, to the End Date of the Segment. If a CMT yield is not published for a time to maturity that matches the Contract Years remaining in the Segment, the yield will be interpolated between the yields for maturities that are published.

The bond spread is the option adjusted spread of the Bloomberg U.S. Corporate Investment Grade Bond Index. We publish this value for each calendar month as of the last business day of the prior calendar month as the LMVA Composite OAS Index under the fixed annuity section of www.lfg.com. Daily values are available publicly with a subscription or by contacting Us.

If We change these components or any of these components are no longer published, or are discontinued, We may substitute another suitable method for determining these components, subject to approval by the New York State Department of Financial Services.

24AR-740 Page X of 4 <br> NY

**INTERIM VALUE LOCK**

The Owner may elect to lock the Interim Value of a Segment of a Dual Performance Trigger Rate Indexed Account with Protection Level by providing Notice to Us.

An Election to exercise to lock the Interim Value of a Segment is irrevocable and may be made once during the Contract Year on any Valuation Date of a Term except the Start Date or the End Date for that Segment. We will process the Interim Value lock at the end of the Valuation Date We receive the Owner's Election to exercise the lock.

A Segment's Ending Value will be calculated on the Indexed Anniversary Date that coincides with its End Date.

**SEGMENT VALUE**

**SEGMENT ENDING VALUE.** On the End Date, the Segment Ending Value of a Segment of a Dual Performance Trigger Rate Indexed Account with Protection Level is the amount equal to the sum of (A) and ((A) multiplied by (B)), where:

A is the Crediting Base on the End Date; and

B is the Performance Rate on the End Date.

When the Interim Value lock as described in the INTERIM VALUE LOCK provision of this Rider is elected, the Segment's Ending Value is equal to its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals, including applicable Surrender Charges.

**CREDITING BASE DURING THE TERM**. The Crediting Base on the Start Date of a Segment is equal to the initial amount allocated or reallocated to the Segment. Thereafter, at the end of each Valuation Date during the Term, the Crediting Base is reduced proportionately by the amount that a Withdrawal, including applicable Surrender Charges, reduced the Segment's Interim Value.

24AR-740 Page X of 4 <br> NY

**DETERMINING THE PERFORMANCE RATE ON THE END DATE.** The Performance Rate on the End Date is the specific Percentage Change in the Index Value between two points in time during a Term, adjusted by the Protection Level and the Dual Performance Trigger Rate.

The Performance Rate is not calculated on the End Date when an Interim Value lock is elected.

Instead, the Segment's Ending Value will be equal to its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals, including applicable Surrender Charges.

If an Election to lock a Segment is not exercised during its Term, the Percentage Change in the Index Value equals the percentage increase or decrease in the Index Value calculated by (A) divided by (B), where:

A is the Index Value on the End Date minus the Index Value on the Start Date; and

B is the Index Value on the Start Date.

The Performance Rate on the End Date, when the Percentage Change in the Index Value on the End Date is:

&nbsp;&nbsp;&nbsp;&nbsp;(a) zero, is equal to the Dual Performance Trigger Rate.

&nbsp;&nbsp;&nbsp;&nbsp;(b) positive, is equal to the Dual Performance Trigger Rate.

&nbsp;&nbsp;&nbsp;&nbsp;(c) negative and the absolute value of the Percentage Change in the Index Value is less than or equal to the
absolute value of the Protection Level, is equal to the Dual Performance Trigger Rate.

&nbsp;&nbsp;&nbsp;&nbsp;(d) negative and the absolute value of the Percentage Change in the Index Value is greater than the absolute
value of the Protection Level, is equal to the sum of the Percentage Change in the Index Value on the End Date, the Dual Performance Trigger
Rate, and the absolute value of the Protection Level.

Absolute value means the magnitude of the number without regard to its mathematical sign. Examples of absolute values are the absolute value of -10 is 10 or the absolute value of 4 is 4.

**RIDER CHARGE**

There is no charge for this Rider.

**TERMINATION OF THIS RIDER**

This Rider will terminate on the earliest of the following event to occur:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the date the Contract to which this Rider is attached terminates.

![](tm265270d1_ex99-bxd6img01.jpg)

24AR-740 Page X of 4 <br> NY

## Ex-99.B(D)(7)

**Exhibit 99.B(d)(7)**

**Lincoln Life & Annuity Company of New York**

**INDEXED ACCOUNTS RIDER**

**DUAL PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS WITH**

**PROTECTION LEVEL**

**Rider Date**: December 20, 2024

**This Rider establishes a point-to-point Dual Performance Trigger indexed crediting strategy with Protection Level for the Contract to which it is added. The provisions of this Rider are effective when a new Segment is established upon an initial allocation to or when a reallocation is made to a Dual Performance Trigger Rate Indexed Account with Protection Level.**

This Rider is made a part of the Contract to which it is attached and is effective on the Rider Date shown above. Except as stated in this Rider, it is subject to all provisions contained in the Contract. In case of any conflict between the provisions of the Contract and this Rider, the provisions of this Rider will control.

If another Indexed Accounts Rider is attached to the Contract, the provisions of that Indexed Accounts Rider shall govern the rules of the Segments established upon an allocation to or when a reallocation is made to an Indexed Account available under that Rider.

**ALL CONTRACT VALUES PROVIDED BY THIS RIDER MAY INCREASE OR DECREASE IN VALUE AND ARE NOT GUARANTEED AS TO A FIXED DOLLAR AMOUNT.**

**DEFINITIONS**

All definitions found in the Contract are incorporated by reference and have the same meaning as they do in the Contract, including other riders, endorsements, or amendments.

**Dual Performance Trigger Rate Indexed Account with Protection Level** is an account that We establish, subject to the terms of this Rider. Each Dual Performance Trigger Rate Indexed Account with Protection Level is established with an associated Index, Protection Level and a Term.

**Dual Performance Trigger Rate** is the percentage We will use to determine the Performance Rate when the Percentage Change in the Index Value on the End Date equals zero, is positive or negative. The Dual Performance Trigger Rate used during the Term is declared prior to the Start Date of each Segment and it may differ from the Dual Performance Trigger Rates used for other Segments.

**Segment(s)** is a specific Indexed Account option established for the Owner under the Contract. A new Segment of a Dual Performance Trigger Rate Indexed Account with Protection Level is established upon an initial allocation or when a reallocation is made to that Dual Performance Trigger Rate Indexed Account with Protection Level. Each Segment in a particular Dual Performance Trigger Rate Indexed Account with Protection Level has a specific Start Date, End Date, Crediting Base, Dual Performance Trigger Rate and Performance Rate.

24AR-740A Page X of 4 <br> NY

**INTERIM VALUE**

The Interim Value is the value that We establish for each Segment of a Dual Performance Trigger Rate Indexed Account with Protection Level on any Valuation Date following the Start Date and prior to the End Date of the Segment.

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) is the value of the Fixed Income Asset Proxy of
a Segment on the Valuation Date the Interim Value is calculated. It is determined for a Segment as:

**C** x **[ 1 / (1** + **F)<sup>D</sup> x (1** + **F)<sup>D</sup> / (1** + **G)<sup>D</sup>]**

<u>where</u>:

**C** is the Crediting Base of the Segment on the Valuation Date of the calculation.

**D** is the total calendar days remaining in the Term divided by 365.

---

| | |
|:---|:---|
| **F** | is the Discount Rate that applies to the Segment on the Start Date of the Segment. It is calculated on the Start Date as (1 - Derivative Asset Proxy per $1 of Crediting Base)<sup>-1/N</sup> - 1, where N = the number of Contract Years in the Term. |

---

---

| | |
|:---|:---|
| **G** | is the Discount Rate that applies to the Segment on the Valuation Date. It is calculated as F plus the change in the Reference Rate from the Start Date to the Valuation Date. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) is the market value of the Derivative Asset Proxy, determined solely by Us, on the Valuation Date of the
calculation.

The Fixed Income Asset Proxy is a hypothetical fixed income asset representing the investment in the Segment.

The Derivative Asset Proxy is determined assuming a package of derivative assets and/or other financial instruments, determined solely by Us, that replicates the Performance Rate on the End Date of the Segment. The value of the package of derivative assets and/or other financial instruments is determined on any Valuation Date that the Interim Value is calculated for a Segment.

The Discount Rate will apply on a uniform basis for a class of Owners in the same Segment and will be administered in a uniform and non-discriminatory manner. The Discount Rate F represents the book yield, and the Discount Rate G represents the market yield on the hypothetical fixed income asset based on the Reference Rate.

The Reference Rate is the sum of the U.S. Constant Maturity Treasury (CMT) yield plus a market observable spread of investment grade U.S. corporate bonds.

The tenor of the CMT is determined by the number of Contract Years remaining in the Segment on the Valuation Date. The number of Contract Years remaining is measured from the most recent Indexed Anniversary Date of the Segment, prior or equal to the Valuation Date, to the End Date of the Segment. If a CMT yield is not published for a time to maturity that matches the Contract Years remaining in the Segment, the yield will be interpolated between the yields for maturities that are published.

The bond spread is the option adjusted spread of the Bloomberg U.S. Corporate Investment Grade Bond Index. We publish this value for each calendar month as of the last business day of the prior calendar month as the LMVA Composite OAS Index under the fixed annuity section of www.lfg.com. Daily values are available publicly with a subscription or by contacting Us.

If We change these components or any of these components are no longer published, or are discontinued, We may substitute another suitable method for determining these components, subject to approval by the New York State Department of Financial Services.

24AR-740A Page X of 4 <br> NY

**INTERIM VALUE LOCK**

The Owner may elect to lock the Interim Value of a Segment of a Dual Performance Trigger Rate Indexed Account with Protection Level by providing Notice to Us.

An Election to exercise to lock the Interim Value of a Segment is irrevocable and may be made once during the Contract Year on any Valuation Date of a Term except the Start Date or the End Date for that Segment. We will process the Interim Value lock at the end of the Valuation Date We receive the Owner's Election to exercise the lock.

A Segment's Ending Value will be calculated on the Indexed Anniversary Date that coincides with its End Date.

**SEGMENT VALUE**

**SEGMENT ENDING VALUE.** On the End Date, the Segment Ending Value of a Segment of a Dual Performance Trigger Rate Indexed Account with Protection Level is the amount equal to the sum of (A) and ((A) multiplied by (B)), where:

A is the Crediting Base on the End Date; and

B is the Performance Rate on the End Date.

When the Interim Value lock as described in the INTERIM VALUE LOCK provision of this Rider is elected, the Segment's Ending Value is equal to its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals.

**CREDITING BASE DURING THE TERM**. The Crediting Base on the Start Date of a Segment is equal to the initial amount allocated or reallocated to the Segment. Thereafter, at the end of each Valuation Date during the Term, the Crediting Base is reduced proportionately by the amount that a Withdrawal reduced the Segment's Interim Value.

24AR-740A Page X of 4 <br> NY

**DETERMINING THE PERFORMANCE RATE ON THE END DATE.** The Performance Rate on the End Date is the specific Percentage Change in the Index Value between two points in time during a Term, adjusted by the Protection Level and the Dual Performance Trigger Rate.

The Performance Rate is not calculated on the End Date when an Interim Value lock is elected.

Instead, the Segment's Ending Value will be equal to its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals.

If an Election to lock a Segment is not exercised during its Term, the Percentage Change in the Index Value equals the percentage increase or decrease in the Index Value calculated by (A) divided by (B), where:

A is the Index Value on the End Date minus the Index Value on the Start Date; and

B is the Index Value on the Start Date.

The Performance Rate on the End Date, when the Percentage Change in the Index Value on the End Date is:

&nbsp;&nbsp;&nbsp;&nbsp;(a) zero, is equal to the Dual Performance Trigger
Rate.

&nbsp;&nbsp;&nbsp;&nbsp;(b) positive, is equal to the Dual Performance Trigger
Rate.

&nbsp;&nbsp;&nbsp;&nbsp;(c) negative and the absolute value of the Percentage
Change in the Index Value is less than or equal to the absolute value of the Protection Level, is equal to the Dual Performance Trigger
Rate.

&nbsp;&nbsp;&nbsp;&nbsp;(d) negative and the absolute value of the Percentage
Change in the Index Value is greater than the absolute value of the Protection Level, is equal to the sum of the Percentage Change in
the Index Value on the End Date, the Dual Performance Trigger Rate, and the absolute value of the Protection Level.

Absolute value means the magnitude of the number without regard to its mathematical sign. Examples of absolute values are the absolute value of -10 is 10 or the absolute value of 4 is 4.

**RIDER CHARGE**

There is no charge for this Rider.

**TERMINATION OF THIS RIDER**

This Rider will terminate on the earliest of the following event to occur:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the date the Contract to which this Rider is attached terminates.

![](tm265270d1_ex99-bxdx7img01.jpg)

24AR-740A Page X of 4 <br> NY

## Ex-99.B(D)(8)

**Exhibit 99.B(d)(8)**

**Lincoln Life & Annuity Company of New York**

**INDEXED ACCOUNTS RIDER**

**DUAL RATE PLUS INDEXED ACCOUNTS**

**Rider Date**: December 20, 2024

**This Rider establishes a point-to-point index strategy for the Contract to which it is added. The provisions of this Rider are effective when a new Segment is established upon an allocation to or when a transfer is made to a Dual Rate Plus Indexed Account.**

This Rider is made a part of the Contract to which it is attached and is effective on the Rider Date shown above. Except as stated in this Rider, it is subject to all provisions contained in the Contract. In case of any conflict between the provisions of the Contract and this Rider, the provisions of this Rider will control.

If another Indexed Accounts Rider is attached to the Contract, the provisions of that Indexed Accounts Rider shall govern the rules of the Segments established upon an allocation to or when a reallocation is made to an Indexed Account available under that Rider.

**ALL CONTRACT VALUES PROVIDED BY THIS RIDER MAY INCREASE OR DECREASE IN VALUE AND ARE NOT GUARANTEED AS TO A FIXED DOLLAR AMOUNT.**

**DEFINITIONS**

All definitions found in the Contract are incorporated by reference and have the same meaning as they do in the Contract, including other riders, endorsements, or amendments.

**Dual Rate** is the percentage We will use, in part, to determine the Performance Rate when the Percentage Change in the Index Value on the End Date is positive, negative or zero, subject to the application of the Performance Cap. The Dual Rate is expressed as a positive percentage.

**Dual Rate Plus Indexed Account** is an account that We establish, subject to the terms of this Rider. Each Dual Rate Plus Indexed Account is established with an associated Index, Dual Rate and a Term.

**Performance Cap** is the maximum percentage We will use to determine the Performance Rate when the Percentage Change in the Index Value on the End Date is positive. The Performance Cap used during the Term is declared prior to the Start Date of each Segment and it may differ from the Performance Caps used for other Segments.

**Segment(s)** is a specific Indexed Account option established for the Owner under the Contract. A new Segment of a Dual Rate Plus Indexed Account is established upon an initial allocation or when a reallocation is made to that Dual Rate Plus Indexed Account. Each Segment in a particular Dual Rate Plus Indexed Account has a specific Start Date, End Date, Crediting Base, Performance Cap and Performance Rate.

24AR-741 Page 1 of 3 <br> NY

**INTERIM VALUE**

The Interim Value is the value that We establish for each Segment of a Dual Rate Plus Indexed Account on any Valuation Date following the Start Date and prior to the End Date of the Segment.

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) is the value of the Fixed Income Asset Proxy of
a Segment on the Valuation Date the Interim Value is calculated. It is determined for a Segment as:

**C** x **[ 1 / (1** + **F)<sup>D</sup> x (1** + **F)<sup>D</sup> / (1** + **G)<sup>D</sup>]**

<u>where</u>:

**C** is the Crediting Base of the Segment on the Valuation Date of the calculation.

**D** is the total calendar days remaining in the Term divided by 365.

---

| | |
|:---|:---|
| **F** | is the Discount Rate that applies to the Segment on the Start Date of the Segment. It is calculated on the Start Date as (1 - Derivative Asset Proxy per $1 of Crediting Base)<sup>-1/N</sup> - 1, where N = the number of Contract Years in the Term. |

---

---

| | |
|:---|:---|
| **G** | is the Discount Rate that applies to the Segment on the Valuation Date. It is calculated as F plus the change in the Reference Rate from the Start Date to the Valuation Date. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) is the market value of the Derivative Asset Proxy, determined solely by Us, on the Valuation Date of the
calculation.

The Fixed Income Asset Proxy is a hypothetical fixed income asset representing the investment in the Segment.

The Derivative Asset Proxy is determined assuming a package of derivative assets and/or other financial instruments, determined solely by Us, that replicates the Performance Rate on the End Date of the Segment. The value of the package of derivative assets and/or other financial instruments is determined on any Valuation Date that the Interim Value is calculated for a Segment.

The Discount Rate will apply on a uniform basis for a class of Owners in the same Segment and will be administered in a uniform and non-discriminatory manner. The Discount Rate F represents the book yield, and the Discount Rate G represents the market yield on the hypothetical fixed income asset based on the Reference Rate.

The Reference Rate is the sum of the U.S. Constant Maturity Treasury (CMT) yield plus a market observable spread of investment grade U.S. corporate bonds.

The tenor of the CMT is determined by the number of Contract Years remaining in the Segment on the Valuation Date. The number of Contract Years remaining is measured from the most recent Indexed Anniversary Date of the Segment, prior or equal to the Valuation Date, to the End Date of the Segment. If a CMT yield is not published for a time to maturity that matches the Contract Years remaining in the Segment, the yield will be interpolated between the yields for maturities that are published.

The bond spread is the option adjusted spread of the Bloomberg U.S. Corporate Investment Grade Bond Index. We publish this value for each calendar month as of the last business day of the prior calendar month as the LMVA Composite OAS Index under the fixed annuity section of www.lfg.com. Daily values are available publicly with a subscription or by contacting Us.

If We change these components or any of these components are no longer published, or are discontinued, We may substitute another suitable method for determining these components, subject to approval by the New York State Department of Financial Services.

24AR-741 Page 2 of 3 <br> NY

**SEGMENT VALUE**

**SEGMENT ENDING VALUE.** On the End Date, the Segment Ending Value of a Segment of a Dual Rate Plus Indexed Account is the amount equal to the sum of (A) and ((A) multiplied by (B)), where:

A is the Crediting Base on the End Date; and

B is the Performance Rate on the End Date.

**CREDITING BASE DURING THE TERM**. The Crediting Base on the Start Date of a Segment is equal to the initial amount allocated or reallocated to the Segment. Thereafter, at the end of each Valuation Date during the Term, the Crediting Base is reduced proportionately by the amount that a Withdrawal, including applicable Surrender Charges, reduced the Segment's Interim Value.

**DETERMINING THE PERFORMANCE RATE ON THE END DATE.** The Performance Rate is the specific Percentage Change in the Index Value between two points in time, the Start Date and the End Date, adjusted by the Dual Rate and Performance Cap.

The Percentage Change in the Index Value equals the percentage increase or decrease in the Index Value calculated by (A) divided by (B), where:

A is the Index Value on the End Date minus the Index Value on the Start Date; and

B is the Index Value on the Start Date.

The Performance Rate on the End Date, when the Percentage Change in the Index Value on the End Date is:

&nbsp;&nbsp;&nbsp;&nbsp;(a) zero or positive and less than or equal to the Dual Rate is equal to the Dual
Rate.

&nbsp;&nbsp;&nbsp;&nbsp;(b) positive and greater than the Dual Rate, but less than the Performance Cap,
is equal to the Percentage Change in the Index Value on the End Date.

&nbsp;&nbsp;&nbsp;&nbsp;(c) positive and equal to or greater than the Performance Cap, is equal to the
Performance Cap.

&nbsp;&nbsp;&nbsp;&nbsp;(d) negative, is equal to the sum of the Percentage Change in the Index Value
on the End Date and the Dual Rate.

**RIDER CHARGE**

There is no charge for this Rider.

**TERMINATION OF THIS RIDER**

This Rider will terminate on the earliest of the following event to occur:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the date the Contract to which this Rider is attached terminates.

![](tm265270d1_ex99-bxdx8img01.jpg)

24AR-741 Page 3 of 3 <br> NY

## Ex-99.B(D)(9)

**Exhibit 99.B(d)(9)**

**Lincoln Life & Annuity Company of New York**

**INDEXED ACCOUNTS RIDER**

**DUAL RATE PLUS INDEXED ACCOUNTS**

**Rider Date**: December 20, 2024

**This Rider establishes a point-to-point index strategy for the Contract to which it is added. The provisions of this Rider are effective when a new Segment is established upon an allocation to or when a transfer is made to a Dual Rate Plus Indexed Account.**

This Rider is made a part of the Contract to which it is attached and is effective on the Rider Date shown above. Except as stated in this Rider, it is subject to all provisions contained in the Contract. In case of any conflict between the provisions of the Contract and this Rider, the provisions of this Rider will control.

If another Indexed Accounts Rider is attached to the Contract, the provisions of that Indexed Accounts Rider shall govern the rules of the Segments established upon an allocation to or when a reallocation is made to an Indexed Account available under that Rider.

**ALL CONTRACT VALUES PROVIDED BY THIS RIDER MAY INCREASE OR DECREASE IN VALUE AND ARE NOT GUARANTEED AS TO A FIXED DOLLAR AMOUNT.**

**DEFINITIONS**

All definitions found in the Contract are incorporated by reference and have the same meaning as they do in the Contract, including other riders, endorsements, or amendments.

**Dual Rate** is the percentage We will use, in part, to determine the Performance Rate when the Percentage Change in the Index Value on the End Date is positive, negative or zero, subject to the application of the Performance Cap. The Dual Rate is expressed as a positive percentage.

**Dual Rate Plus Indexed Account** is an account that We establish, subject to the terms of this Rider. Each Dual Rate Plus Indexed Account is established with an associated Index, Dual Rate and a Term.

**Performance Cap** is the maximum percentage We will use to determine the Performance Rate when the Percentage Change in the Index Value on the End Date is positive. The Performance Cap used during the Term is declared prior to the Start Date of each Segment and it may differ from the Performance Caps used for other Segments.

**Segment(s)** is a specific Indexed Account option established for the Owner under the Contract. A new Segment of a Dual Rate Plus Indexed Account is established upon an initial allocation or when a reallocation is made to that Dual Rate Plus Indexed Account. Each Segment in a particular Dual Rate Plus Indexed Account has a specific Start Date, End Date, Crediting Base, Performance Cap and Performance Rate.

24AR-741A Page 1 of 3 <br> NY

**INTERIM VALUE**

The Interim Value is the value that We establish for each Segment of a Dual Rate Plus Indexed Account on any Valuation Date following the Start Date and prior to the End Date of the Segment.

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) is the value of the Fixed Income Asset Proxy of
a Segment on the Valuation Date the Interim Value is calculated. It is determined for a Segment as:

**C** x **[ 1 / (1** + **F)<sup>D</sup> x (1** + **F)<sup>D</sup> / (1** + **G)<sup>D</sup>]**

<u>where</u>:

**C** is the Crediting Base of the Segment on the Valuation Date of the calculation.

**D** is the total calendar days remaining in the Term divided by 365.

---

| | |
|:---|:---|
| **F** | is the Discount Rate that applies to the Segment on the Start Date of the Segment. It is calculated on the Start Date as (1 - Derivative Asset Proxy per $1 of Crediting Base)<sup>-1/N</sup> - 1, where N = the number of Contract Years in the Term. |

---

---

| | |
|:---|:---|
| **G** | is the Discount Rate that applies to the Segment on the Valuation Date. It is calculated as F plus the change in the Reference Rate from the Start Date to the Valuation Date. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) is the market value of the Derivative Asset Proxy, determined solely by Us, on the Valuation Date of the
calculation.

The Fixed Income Asset Proxy is a hypothetical fixed income asset representing the investment in the Segment.

The Derivative Asset Proxy is determined assuming a package of derivative assets and/or other financial instruments, determined solely by Us, that replicates the Performance Rate on the End Date of the Segment. The value of the package of derivative assets and/or other financial instruments is determined on any Valuation Date that the Interim Value is calculated for a Segment.

The Discount Rate will apply on a uniform basis for a class of Owners in the same Segment and will be administered in a uniform and non-discriminatory manner. The Discount Rate F represents the book yield, and the Discount Rate G represents the market yield on the hypothetical fixed income asset based on the Reference Rate.

The Reference Rate is the sum of the U.S. Constant Maturity Treasury (CMT) yield plus a market observable spread of investment grade U.S. corporate bonds.

The tenor of the CMT is determined by the number of Contract Years remaining in the Segment on the Valuation Date. The number of Contract Years remaining is measured from the most recent Indexed Anniversary Date of the Segment, prior or equal to the Valuation Date, to the End Date of the Segment. If a CMT yield is not published for a time to maturity that matches the Contract Years remaining in the Segment, the yield will be interpolated between the yields for maturities that are published.

The bond spread is the option adjusted spread of the Bloomberg U.S. Corporate Investment Grade Bond Index. We publish this value for each calendar month as of the last business day of the prior calendar month as the LMVA Composite OAS Index under the fixed annuity section of www.lfg.com. Daily values are available publicly with a subscription or by contacting Us.

If We change these components or any of these components are no longer published, or are discontinued, We may substitute another suitable method for determining these components, subject to approval by the New York State Department of Financial Services.

24AR-741A Page 2 of 3 <br> NY

**SEGMENT VALUE**

**SEGMENT ENDING VALUE.** On the End Date, the Segment Ending Value of a Segment of a Dual Rate Plus Indexed Account is the amount equal to the sum of (A) and ((A) multiplied by (B)), where:

A is the Crediting Base on the End Date; and

B is the Performance Rate on the End Date.

**CREDITING BASE DURING THE TERM**. The Crediting Base on the Start Date of a Segment is equal to the initial amount allocated or reallocated to the Segment. Thereafter, at the end of each Valuation Date during the Term, the Crediting Base is reduced proportionately by the amount that a Withdrawal reduced the Segment's Interim Value.

**DETERMINING THE PERFORMANCE RATE ON THE END DATE.** The Performance Rate is the specific Percentage Change in the Index Value between two points in time, the Start Date and the End Date, adjusted by the Dual Rate and Performance Cap.

The Percentage Change in the Index Value equals the percentage increase or decrease in the Index Value calculated by (A) divided by (B), where:

A is the Index Value on the End Date minus the Index Value on the Start Date; and

B is the Index Value on the Start Date.

The Performance Rate on the End Date, when the Percentage Change in the Index Value on the End Date is:

&nbsp;&nbsp;&nbsp;&nbsp;(a) zero or positive and less than or equal to the Dual Rate is equal to the Dual
Rate.

&nbsp;&nbsp;&nbsp;&nbsp;(b) positive and greater than the Dual Rate, but less than the Performance Cap,
is equal to the Percentage Change in the Index Value on the End Date.

&nbsp;&nbsp;&nbsp;&nbsp;(c) positive and equal to or greater than the Performance Cap, is equal to the
Performance Cap.

&nbsp;&nbsp;&nbsp;&nbsp;(d) negative, is equal to the sum of the Percentage Change in the Index Value
on the End Date and the Dual Rate.

**RIDER CHARGE**

There is no charge for this Rider.

**TERMINATION OF THIS RIDER**

This Rider will terminate on the earliest of the following event to occur:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the date the Contract to which this Rider is attached terminates.

![](tm265270d1_ex99-bxdx9img01.jpg)

24AR-741A Page 3 of 3 <br> NY

## Ex-99.B(D)(10)

**Exhibit 99.B(d)(10)**

**Lincoln Life & Annuity Company of New York**

**INDEXED ACCOUNTS RIDER** 

**PERFORMANCE CAP INDEXED ACCOUNTS WITH PROTECTION LEVEL**

**Rider Date**: December 20, 2024

**This Rider establishes a point-to-point Performance Cap indexed crediting strategy with Protection Level for the Contract to which it is added. The provisions of this Rider are effective when a new Segment is established upon an initial allocation to or when a reallocation is made to a Performance Cap Indexed Account with Protection Level.** 

This Rider is made a part of the Contract to which it is attached and is effective on the Rider Date shown above. Except as stated in this Rider, it is subject to all provisions contained in the Contract. In case of any conflict between the provisions of the Contract and this Rider, the provisions of this Rider will control.

If another Indexed Accounts Rider is attached to the Contract, the provisions of that Indexed Accounts Rider shall govern the rules of the Segments established upon an allocation to or when a reallocation is made to an Indexed Account available under that Rider.

**ALL CONTRACT VALUES PROVIDED BY THIS RIDER MAY INCREASE OR DECREASE IN VALUE AND ARE NOT GUARANTEED AS TO A FIXED DOLLAR AMOUNT.**

**DEFINITIONS**

All definitions found in the Contract are incorporated by reference and have the same meaning as they do in the Contract, including other riders, endorsements, or amendments.

**Performance Cap** is the maximum percentage We will use to determine the Performance Rate when the Percentage Change in the Index Value on the End Date, is positive. The Performance Cap used during the Term is declared prior to the Start Date of each Segment and it may differ from the Performance Caps used for other Segments.

The Performance Cap may reset at the end of a Valuation Date during a Term as described in the INTERIM VALUE LOCK AND RESET provision of this Rider.

**Performance Cap Indexed Account with Protection Level** is an account that We establish, subject to the terms of this Rider. Each Performance Cap Indexed Account with Protection Level is established with an associated Index, Protection Level and a Term.

**Reset Date** is the most recent Valuation Date that the Segment was reset as described in the INTERIM VALUE LOCK AND RESET provision of this Rider.

**Segment(s)** is a specific Indexed Account option established for the Owner under the Contract. A new Segment of a Performance Cap Indexed Account with Protection Level is established upon an initial allocation or when a reallocation is made to that Performance Cap Indexed Account with Protection Level. Each Segment in a particular Performance Cap Indexed Account with Protection Level has a specific Start Date, End Date, Crediting Base, Performance Cap and Performance Rate.

24AR-742 Page X of 4NY

**INTERIM VALUE**

The Interim Value is the value that We establish for each Segment of a Performance Cap Indexed Account with Protection Level on any Valuation Date following the Start Date and prior to the End Date of the Segment.

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) is the value of the Fixed Income Asset Proxy of a Segment on the Valuation Date the Interim Value is calculated.
It is determined for a Segment as:

**C** x **[ 1 / (1** + **F)<sup>D</sup> x (1** + **F)<sup>D</sup> / (1** + **G)<sup>D</sup>]**

<u>where</u>:

**C** is the Crediting Base of the Segment on the Valuation Date of the calculation.

**D** is the total calendar days remaining in the Term divided by 365.

---

| | |
|:---|:---|
| **F** | is the Discount Rate that applies to the Segment on the Start Date of the Segment. It is calculated on the Start Date as (1 - Derivative Asset Proxy per $1 of Crediting Base)<sup>-1/N</sup> - 1, where N = the number of Contract Years in the Term. |

---

---

| | |
|:---|:---|
| **G** | is the Discount Rate that applies to the Segment on the Valuation Date. It is calculated as F plus the change in the Reference Rate from the Start Date to the Valuation Date. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) is the market value of the Derivative Asset Proxy, determined solely by Us, on the Valuation Date of the
calculation.

The Fixed Income Asset Proxy is a hypothetical fixed income asset representing the investment in the Segment.

The Derivative Asset Proxy is determined assuming a package of derivative assets and/or other financial instruments, determined solely by Us, that replicates the Performance Rate on the End Date of the Segment. The value of the package of derivative assets and/or other financial instruments is determined on any Valuation Date that the Interim Value is calculated for a Segment.

The Discount Rate will apply on a uniform basis for a class of Owners in the same Segment and will be administered in a uniform and non-discriminatory manner. The Discount Rate F represents the book yield, and the Discount Rate G represents the market yield on the hypothetical fixed income asset based on the Reference Rate.

The Reference Rate is the sum of the U.S. Constant Maturity Treasury (CMT) yield plus a market observable spread of investment grade U.S. corporate bonds.

The tenor of the CMT is determined by the number of Contract Years remaining in the Segment on the Valuation Date. The number of Contract Years remaining is measured from the most recent Indexed Anniversary Date of the Segment, prior or equal to the Valuation Date, to the End Date of the Segment. If a CMT yield is not published for a time to maturity that matches the Contract Years remaining in the Segment, the yield will be interpolated between the yields for maturities that are published.

The bond spread is the option adjusted spread of the Bloomberg U.S. Corporate Investment Grade Bond Index. We publish this value for each calendar month as of the last business day of the prior calendar month as the LMVA Composite OAS Index under the fixed annuity section of www.lfg.com. Daily values are available publicly with a subscription or by contacting Us.

If We change these components or any of these components are no longer published, or are discontinued, We may substitute another suitable method for determining these components, subject to approval by the New York State Department of Financial Services.

24AR-742 Page X of 4NY

**INTERIM VALUE LOCK AND RESET**

The Owner may elect to lock the Interim Value of a Segment of a Performance Cap Indexed Account with Protection Level by providing Notice to Us. We will reset the locked Segment as described in this provision.

An Election to exercise to lock the Interim Value of a Segment is irrevocable and may be made once during the Contract Year on any Valuation Date of a Term except the Start Date, the End Date, or an Indexed Anniversary Date for that Segment. We will process the Interim Value lock at the end of the Valuation Date We receive the Owner's Election to exercise the lock.

A Segment's Ending Value will be calculated on the Indexed Anniversary Date that coincides with its End Date.

On the Reset Date, which is the Indexed Anniversary Date immediately after the Owner's Election to exercise to lock the Interim Value, if such date is not the End Date, We will:

&nbsp;&nbsp;&nbsp;&nbsp;(a) reset
the Segment's Crediting Base to equal its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals, including
applicable Surrender Charges; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) restart the calculation of the Segment's
Interim Value; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) reset the Performance Cap to a Performance Cap
We declare for the remainder of the Term, subject to the MINIMUM PERFORMANCE CAP FOR LOCKED SEGMENTS, as shown on the Indexed Accounts
Specifications.

If an Election to lock and reset a Segment is exercised during the Term, F and G in the INTERIM VALUE provision above are replaced with:

---

| | |
|:---|:---|
| **F** | is the Discount Rate that applies to the Segment on the Reset Date of the Segment. It is calculated on the Reset Date as (1 – Derivative Asset Proxy per $1 of Crediting Base)<sup>-1/N</sup> – 1, where N = the number of Contract Years remaining in the Term on the Reset Date. |

---

---

| | |
|:---|:---|
| **G** | is the Discount Rate that applies to the Segment on the Valuation Date. It is calculated as F plus the change in the Reference Rate from the Reset Date to the Valuation Date. |

---

If the Reset Date coincides with the End Date of the locked Segment, We will not restart the calculation of the Segment's Interim Value and the Segment's Ending Value will be determined as described in the SEGMENT VALUE provision of this Rider.

**SEGMENT VALUE**

**SEGMENT ENDING VALUE.** On the End Date, the Segment Ending Value of a Segment of a Performance Cap Indexed Account with Protection Level is the amount equal to the sum of (A) and ((A) multiplied by (B)), where:

A is the Crediting Base on the End Date; and

B is the Performance Rate on the End Date.

**CREDITING BASE DURING THE TERM**. The Crediting Base on the Start Date of a Segment is equal to the initial amount allocated or reallocated to the Segment. Thereafter, at the end of each Valuation Date during the Term, the Crediting Base is reduced proportionately by the amount that a Withdrawal, including applicable Surrender Charges, reduced the Segment's Interim Value.

When the Interim Value lock as described in the INTERIM VALUE LOCK AND RESET provision of this Rider is elected:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Segment's Crediting Base on the Reset Date, is equal to its locked Interim Value, reduced by
the dollar amount of any applicable Withdrawals, including applicable Surrender Charges; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Reset Date immediately after the Election of this Interim Value lock coincides with the Segment's
End Date, then the Segment's Ending Value is equal to its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals,
including applicable Surrender Charges.

24AR-742 Page X of 4NY

**DETERMINING THE PERFORMANCE RATE ON THE END DATE.** The Performance Rate on the End Date is the specific Percentage Change in the Index Value between two points in time during a Term, adjusted by the Protection Level and subject to the Performance Cap.

The Performance Rate is not calculated on the End Date when the Reset Date immediately after the Election of the Interim Value lock coincides with the End Date of the locked Segment.

Instead, the Segment's Ending Value will be equal to its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals, including applicable Surrender Charges.

If an Election to lock and reset a Segment is not exercised during its Term, the Percentage Change in the Index Value equals the percentage increase or decrease in the Index Value calculated by (A) divided by (B), where:

A is the Index Value on the End Date minus the Index Value on the Start Date; and

B is the Index Value on the Start Date.

If an Election to lock and reset a Segment is exercised during its Term, the Percentage Change in the Index Value equals the percentage increase or decrease in the Index Value calculated by (A) divided by (B), where:

A is the Index Value on the End Date minus the Index Value on the most recent Reset Date; and

B is the Index Value on the most recent Reset Date.

The Performance Rate on the End Date, when the Percentage Change in the Index Value on the End Date is:

&nbsp;&nbsp;&nbsp;&nbsp;(a) zero, is equal to zero.

&nbsp;&nbsp;&nbsp;&nbsp;(b) positive and equal to or greater than the Performance Cap, is equal to the Performance Cap.

&nbsp;&nbsp;&nbsp;&nbsp;(c) positive and less than the Performance Cap, is equal to the Percentage Change in the Index Value on the
End Date.

&nbsp;&nbsp;&nbsp;&nbsp;(d) negative and the absolute value is less than or equal to the Protection Level, is equal to zero.

&nbsp;&nbsp;&nbsp;&nbsp;(e) negative and the absolute value is greater than the Protection Level, is equal to the sum of the Percentage
Change in the Index Value on the End Date and the Protection Level.

Absolute value means the magnitude of the number without regard to its mathematical sign. Examples of absolute values are the absolute value of -10 is 10 or the absolute value of 4 is 4.

**RIDER CHARGE**

There is no charge for this Rider.

**TERMINATION OF THIS RIDER**

This Rider will terminate on the earliest of the following event to occur:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement
Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the date the Contract to which this Rider is attached
terminates.

![](tm265270d1_ex99-bxdx10img02.jpg)

24AR-742 Page X of 4NY

## Ex-99.B(D)(11)

**Exhibit 99.B(d)(11)**

**Lincoln Life & Annuity Company of New York**

**INDEXED ACCOUNTS RIDER** 

**PERFORMANCE CAP INDEXED ACCOUNTS WITH PROTECTION LEVEL**

**Rider Date**: December 20, 2024

**This Rider establishes a point-to-point Performance Cap indexed crediting strategy with Protection Level for the Contract to which it is added. The provisions of this Rider are effective when a new Segment is established upon an initial allocation to or when a reallocation is made to a Performance Cap Indexed Account with Protection Level.** 

This Rider is made a part of the Contract to which it is attached and is effective on the Rider Date shown above. Except as stated in this Rider, it is subject to all provisions contained in the Contract. In case of any conflict between the provisions of the Contract and this Rider, the provisions of this Rider will control.

If another Indexed Accounts Rider is attached to the Contract, the provisions of that Indexed Accounts Rider shall govern the rules of the Segments established upon an allocation to or when a reallocation is made to an Indexed Account available under that Rider.

**ALL CONTRACT VALUES PROVIDED BY THIS RIDER MAY INCREASE OR DECREASE IN VALUE AND ARE NOT GUARANTEED AS TO A FIXED DOLLAR AMOUNT.**

**DEFINITIONS**

All definitions found in the Contract are incorporated by reference and have the same meaning as they do in the Contract, including other riders, endorsements, or amendments.

**Performance Cap** is the maximum percentage We will use to determine the Performance Rate when the Percentage Change in the Index Value on the End Date, is positive. The Performance Cap used during the Term is declared prior to the Start Date of each Segment and it may differ from the Performance Caps used for other Segments.

The Performance Cap may reset at the end of a Valuation Date during a Term as described in the INTERIM VALUE LOCK AND RESET provision of this Rider.

**Performance Cap Indexed Account with Protection Level** is an account that We establish, subject to the terms of this Rider. Each Performance Cap Indexed Account with Protection Level is established with an associated Index, Protection Level and a Term.

**Reset Date** is the most recent Valuation Date that the Segment was reset as described in the INTERIM VALUE LOCK AND RESET provision of this Rider.

**Segment(s)** is a specific Indexed Account option established for the Owner under the Contract. A new Segment of a Performance Cap Indexed Account with Protection Level is established upon an initial allocation or when a reallocation is made to that Performance Cap Indexed Account with Protection Level. Each Segment in a particular Performance Cap Indexed Account with Protection Level has a specific Start Date, End Date, Crediting Base, Performance Cap and Performance Rate.

24AR-742A Page X of 4NY

**INTERIM VALUE**

The Interim Value is the value that We establish for each Segment of a Performance Cap Indexed Account with Protection Level on any Valuation Date following the Start Date and prior to the End Date of the Segment.

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) is the value of the Fixed Income Asset Proxy of a Segment on the Valuation Date the Interim Value is calculated.
It is determined for a Segment as:

**C** x **[ 1 / (1** + **F)<sup>D</sup> x (1** + **F)<sup>D</sup> / (1** + **G)<sup>D</sup>]**

<u>where</u>:

**C** is the Crediting Base of the Segment on the Valuation Date of the calculation.

**D** is the total calendar days remaining in the Term divided by 365.

---

| | |
|:---|:---|
| **F** | is the Discount Rate that applies to the Segment on the Start Date of the Segment. It is calculated on the Start Date as (1 - Derivative Asset Proxy per $1 of Crediting Base)<sup>-1/N</sup> - 1, where N = the number of Contract Years in the Term. |

---

---

| | |
|:---|:---|
| **G** | is the Discount Rate that applies to the Segment on the Valuation Date. It is calculated as F plus the change in the Reference Rate from the Start Date to the Valuation Date. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) is the market value of the Derivative Asset Proxy, determined solely by Us, on the Valuation Date of the
calculation.

The Fixed Income Asset Proxy is a hypothetical fixed income asset representing the investment in the Segment.

The Derivative Asset Proxy is determined assuming a package of derivative assets and/or other financial instruments, determined solely by Us, that replicates the Performance Rate on the End Date of the Segment. The value of the package of derivative assets and/or other financial instruments is determined on any Valuation Date that the Interim Value is calculated for a Segment.

The Discount Rate will apply on a uniform basis for a class of Owners in the same Segment and will be administered in a uniform and non-discriminatory manner. The Discount Rate F represents the book yield, and the Discount Rate G represents the market yield on the hypothetical fixed income asset based on the Reference Rate.

The Reference Rate is the sum of the U.S. Constant Maturity Treasury (CMT) yield plus a market observable spread of investment grade U.S. corporate bonds.

The tenor of the CMT is determined by the number of Contract Years remaining in the Segment on the Valuation Date. The number of Contract Years remaining is measured from the most recent Indexed Anniversary Date of the Segment, prior or equal to the Valuation Date, to the End Date of the Segment. If a CMT yield is not published for a time to maturity that matches the Contract Years remaining in the Segment, the yield will be interpolated between the yields for maturities that are published.

The bond spread is the option adjusted spread of the Bloomberg U.S. Corporate Investment Grade Bond Index. We publish this value for each calendar month as of the last business day of the prior calendar month as the LMVA Composite OAS Index under the fixed annuity section of www.lfg.com. Daily values are available publicly with a subscription or by contacting Us.

If We change these components or any of these components are no longer published, or are discontinued, We may substitute another suitable method for determining these components, subject to approval by the New York State Department of Financial Services.

24AR-742A Page X of 4NY

**INTERIM VALUE LOCK AND RESET**

The Owner may elect to lock the Interim Value of a Segment of a Performance Cap Indexed Account with Protection Level by providing Notice to Us. We will reset the locked Segment as described in this provision.

An Election to exercise to lock the Interim Value of a Segment is irrevocable and may be made once during the Contract Year on any Valuation Date of a Term except the Start Date, the End Date, or an Indexed Anniversary Date for that Segment. We will process the Interim Value lock at the end of the Valuation Date We receive the Owner's Election to exercise the lock.

A Segment's Ending Value will be calculated on the Indexed Anniversary Date that coincides with its End Date.

On the Reset Date, which is the Indexed Anniversary Date immediately after the Owner's Election to exercise to lock the Interim Value, if such date is not the End Date, We will:

&nbsp;&nbsp;&nbsp;&nbsp;(a) reset the Segment's Crediting Base to equal
its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) restart the calculation of the Segment's
Interim Value; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) reset the Performance Cap to a Performance Cap
We declare for the remainder of the Term, subject to the MINIMUM PERFORMANCE CAP FOR LOCKED SEGMENTS, as shown on the Indexed Accounts
Specifications.

If an Election to lock and reset a Segment is exercised during the Term, F and G in the INTERIM VALUE provision above are replaced with:

---

| | |
|:---|:---|
| **F** | is the Discount Rate that applies to the Segment on the Reset Date of the Segment. It is calculated on the Reset Date as (1 – Derivative Asset Proxy per $1 of Crediting Base)<sup>-1/N</sup> – 1, where N = the number of Contract Years remaining in the Term on the Reset Date. |

---

---

| | |
|:---|:---|
| **G** | is the Discount Rate that applies to the Segment on the Valuation Date. It is calculated as F plus the change in the Reference Rate from the Reset Date to the Valuation Date. |

---

If the Reset Date coincides with the End Date of the locked Segment, We will not restart the calculation of the Segment's Interim Value and the Segment's Ending Value will be determined as described in the SEGMENT VALUE provision of this Rider.

**SEGMENT VALUE**

**SEGMENT ENDING VALUE.** On the End Date, the Segment Ending Value of a Segment of a Performance Cap Indexed Account with Protection Level is the amount equal to the sum of (A) and ((A) multiplied by (B)), where:

A is the Crediting Base on the End Date; and

B is the Performance Rate on the End Date.

**CREDITING BASE DURING THE TERM**. The Crediting Base on the Start Date of a Segment is equal to the initial amount allocated or reallocated to the Segment. Thereafter, at the end of each Valuation Date during the Term, the Crediting Base is reduced proportionately by the amount that a Withdrawal reduced the Segment's Interim Value.

When the Interim Value lock as described in the INTERIM VALUE LOCK AND RESET provision of this Rider is elected:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Segment's Crediting Base on the Reset Date, is equal to its locked Interim Value, reduced by
the dollar amount of any applicable Withdrawals; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Reset Date immediately after the Election of this Interim Value lock coincides with the Segment's
End Date, then the Segment's Ending Value is equal to its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals.

24AR-742A Page X of 4NY

**DETERMINING THE PERFORMANCE RATE ON THE END DATE.** The Performance Rate on the End Date is the specific Percentage Change in the Index Value between two points in time during a Term, adjusted by the Protection Level and subject to the Performance Cap.

The Performance Rate is not calculated on the End Date when the Reset Date immediately after the Election of the Interim Value lock coincides with the End Date of the locked Segment.

Instead, the Segment's Ending Value will be equal to its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals.

If an Election to lock and reset a Segment is not exercised during its Term, the Percentage Change in the Index Value equals the percentage increase or decrease in the Index Value calculated by (A) divided by (B), where:

A is the Index Value on the End Date minus the Index Value on the Start Date; and

B is the Index Value on the Start Date.

If an Election to lock and reset a Segment is exercised during its Term, the Percentage Change in the Index Value equals the percentage increase or decrease in the Index Value calculated by (A) divided by (B), where:

A is the Index Value on the End Date minus the Index Value on the most recent Reset Date; and

B is the Index Value on the most recent Reset Date.

The Performance Rate on the End Date, when the Percentage Change in the Index Value on the End Date is:

&nbsp;&nbsp;&nbsp;&nbsp;(a) zero, is equal to zero.

&nbsp;&nbsp;&nbsp;&nbsp;(b) positive and equal to or greater than the Performance Cap, is equal to the Performance Cap.

&nbsp;&nbsp;&nbsp;&nbsp;(c) positive and less than the Performance Cap, is equal to the Percentage Change in the Index Value on the
End Date.

&nbsp;&nbsp;&nbsp;&nbsp;(d) negative and the absolute value is less than or equal to the Protection Level, is equal to zero.

&nbsp;&nbsp;&nbsp;&nbsp;(e) negative and the absolute value is greater than the Protection Level, is equal to the sum of the Percentage
Change in the Index Value on the End Date and the Protection Level.

Absolute value means the magnitude of the number without regard to its mathematical sign. Examples of absolute values are the absolute value of -10 is 10 or the absolute value of 4 is 4.

**RIDER CHARGE**

There is no charge for this Rider.

**TERMINATION OF THIS RIDER**

This Rider will terminate on the earliest of the following event to occur:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement
Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the date the Contract to which this Rider is attached
terminates.

![](tm265270d1_ex99-bxdx11img01.jpg)

24AR-742A Page X of 4NY

## Ex-99.B(D)(12)

**Exhibit 99.B(d)(12)**

**Lincoln Life & Annuity Company of New York**

**INDEXED ACCOUNTS RIDER** 

**PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS WITH PROTECTION LEVEL**

**Rider Date**: December 20, 2024

**This Rider establishes a point-to-point Performance Trigger indexed crediting strategy with Protection Level for the Contract to which it is added. The provisions of this Rider are effective when a new Segment is established upon an initial allocation to or when a reallocation is made to a Performance Trigger Rate Indexed Account with Protection Level.** 

This Rider is made a part of the Contract to which it is attached and is effective on the Rider Date shown above. Except as stated in this Rider, it is subject to all provisions contained in the Contract. In case of any conflict between the provisions of the Contract and this Rider, the provisions of this Rider will control.

If another Indexed Accounts Rider is attached to the Contract, the provisions of that Indexed Accounts Rider shall govern the rules of the Segments established upon an allocation to or when a reallocation is made to an Indexed Account available under that Rider.

**ALL CONTRACT VALUES PROVIDED BY THIS RIDER MAY INCREASE OR DECREASE IN VALUE AND ARE NOT GUARANTEED AS TO A FIXED DOLLAR AMOUNT.**

**DEFINITIONS**

All definitions found in the Contract are incorporated by reference and have the same meaning as they do in the Contract, including other riders, endorsements, or amendments.

**Performance Trigger Rate Indexed Account with Protection Level** is an account that We establish, subject to the terms of this Rider. Each Performance Trigger Rate Indexed Account with Protection Level is established with an associated Index, Protection Level and a Term.

**Performance Trigger Rate** is the percentage We will use to determine the Performance Rate when the Percentage Change in the Index Value on the End Date is positive or equals zero. The Performance Trigger Rate used during the Term is declared prior to the Start Date of each Segment and it may differ from the Performance Trigger Rates used for other Segments.

**Segment(s)** is a specific Indexed Account option established for the Owner under the Contract. A new Segment of a Performance Trigger Rate Indexed Account with Protection Level is established upon an initial allocation or when a reallocation is made to that Performance Trigger Rate Indexed Account with Protection Level. Each Segment in a particular Performance Trigger Rate Indexed Account with Protection Level has a specific Start Date, End Date, Crediting Base, Performance Trigger Rate and Performance Rate.

24AR-744 Page X of 4NY

**INTERIM VALUE**

The Interim Value is the value that We establish for each Segment of a Performance Trigger Rate Indexed Account with Protection Level on any Valuation Date following the Start Date and prior to the End Date of the Segment.

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) is the value of the Fixed Income Asset Proxy of a Segment on the Valuation Date the Interim Value is calculated.
It is determined for a Segment as:

**C** x **[ 1 / (1** + **F)<sup>D</sup> x (1** + **F)<sup>D</sup> / (1** + **G)<sup>D</sup>]**

<u>where</u>:

**C** is the Crediting Base of the Segment on the Valuation Date of the calculation.

**D** is the total calendar days remaining in the Term divided by 365.

---

| | |
|:---|:---|
| **F** | is the Discount Rate that applies to the Segment on the Start Date of the Segment. It is calculated on the Start Date as (1 - Derivative Asset Proxy per $1 of Crediting Base)<sup>-1/N</sup> - 1, where N = the number of Contract Years in the Term. |

---

---

| | |
|:---|:---|
| **G** | is the Discount Rate that applies to the Segment on the Valuation Date. It is calculated as F plus the change in the Reference Rate from the Start Date to the Valuation Date. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) is the market value of the Derivative Asset Proxy, determined solely by Us, on the Valuation Date of the
calculation.

The Fixed Income Asset Proxy is a hypothetical fixed income asset representing the investment in the Segment.

The Derivative Asset Proxy is determined assuming a package of derivative assets and/or other financial instruments, determined solely by Us, that replicates the Performance Rate on the End Date of the Segment. The value of the package of derivative assets and/or other financial instruments is determined on any Valuation Date that the Interim Value is calculated for a Segment.

The Discount Rate will apply on a uniform basis for a class of Owners in the same Segment and will be administered in a uniform and non-discriminatory manner. The Discount Rate F represents the book yield, and the Discount Rate G represents the market yield on the hypothetical fixed income asset based on the Reference Rate.

The Reference Rate is the sum of the U.S. Constant Maturity Treasury (CMT) yield plus a market observable spread of investment grade U.S. corporate bonds.

The tenor of the CMT is determined by the number of Contract Years remaining in the Segment on the Valuation Date. The number of Contract Years remaining is measured from the most recent Indexed Anniversary Date of the Segment, prior or equal to the Valuation Date, to the End Date of the Segment. If a CMT yield is not published for a time to maturity that matches the Contract Years remaining in the Segment, the yield will be interpolated between the yields for maturities that are published.

The bond spread is the option adjusted spread of the Bloomberg U.S. Corporate Investment Grade Bond Index. We publish this value for each calendar month as of the last business day of the prior calendar month as the LMVA Composite OAS Index under the fixed annuity section of www.lfg.com. Daily values are available publicly with a subscription or by contacting Us.

If We change these components or any of these components are no longer published, or are discontinued, We may substitute another suitable method for determining these components, subject to approval by the New York State Department of Financial Services.

24AR-744 Page X of 4NY

**INTERIM VALUE LOCK**

The Owner may elect to lock the Interim Value of a Segment of a Performance Trigger Rate Indexed Account with Protection Level by providing Notice to Us.

An Election to exercise to lock the Interim Value of a Segment is irrevocable and may be made once during the Contract Year on any Valuation Date of a Term except the Start Date or the End Date for that Segment. We will process the Interim Value lock at the end of the Valuation Date We receive the Owner's Election to exercise the lock.

A Segment's Ending Value will be calculated on the Indexed Anniversary Date that coincides with its End Date.

**SEGMENT VALUE**

**SEGMENT ENDING VALUE.** On the End Date, the Segment Ending Value of a Segment of a Performance Trigger Rate Indexed Account with Protection Level is the amount equal to the sum of (A) and ((A) multiplied by (B)), where:

A is the Crediting Base on the End Date; and

B is the Performance Rate on the End Date.

When the Interim Value lock as described in the INTERIM VALUE LOCK provision of this Rider is elected, the Segment's Ending Value is equal to its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals, including applicable Surrender Charges.

**CREDITING BASE DURING THE TERM**. The Crediting Base on the Start Date of a Segment is equal to the initial amount allocated or reallocated to the Segment. Thereafter, at the end of each Valuation Date during the Term, the Crediting Base is reduced proportionately by the amount that a Withdrawal, including applicable Surrender Charges, reduced the Segment's Interim Value.

24AR-744 Page X of 4NY

**DETERMINING THE PERFORMANCE RATE ON THE END DATE.** The Performance Rate on the End Date is the specific Percentage Change in the Index Value between two points in time during a Term, adjusted by the Protection Level and subject to the Performance Trigger Rate.

The Performance Rate is not calculated on the End Date when an Interim Value lock is elected.

Instead, the Segment's Ending Value will be equal to its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals, including applicable Surrender Charges.

If an Election to lock a Segment is not exercised during its Term, the Percentage Change in the Index Value equals the percentage increase or decrease in the Index Value calculated by (A) divided by (B), where:

A is the Index Value on the End Date minus the Index Value on the Start Date; and

B is the Index Value on the Start Date.

The Performance Rate on the End Date, when the Percentage Change in the Index Value on the End Date is:

&nbsp;&nbsp;&nbsp;&nbsp;(a) zero, is equal to the Performance Trigger Rate.

&nbsp;&nbsp;&nbsp;&nbsp;(b) positive, is equal to the Performance Trigger Rate.

&nbsp;&nbsp;&nbsp;&nbsp;(c) negative and the absolute value is less than or equal to the Protection Level, is equal to zero.

&nbsp;&nbsp;&nbsp;&nbsp;(d) negative and the absolute value is greater than the Protection Level, is equal to the sum of the Percentage
Change in the Index Value on the End Date and the Protection Level.

Absolute value means the magnitude of the number without regard to its mathematical sign. Examples of absolute values are the absolute value of -10 is 10 or the absolute value of 4 is 4.

**RIDER CHARGE**

There is no charge for this Rider.

**TERMINATION OF THIS RIDER**

This Rider will terminate on the earliest of the following event to occur:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement
Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the date the Contract to which this Rider is attached
terminates.

![](tm265270d1_ex99-bxdx12img03.jpg)

24AR-744 Page X of 4NY

## Ex-99.B(D)(13)

**Exhibit 99.B(d)(13)**

**Lincoln Life & Annuity Company of New York**

**INDEXED ACCOUNTS RIDER** 

**PERFORMANCE TRIGGER RATE INDEXED ACCOUNTS WITH PROTECTION LEVEL**

**Rider Date**: December 20, 2024

**This Rider establishes a point-to-point Performance Trigger indexed crediting strategy with Protection Level for the Contract to which it is added. The provisions of this Rider are effective when a new Segment is established upon an initial allocation to or when a reallocation is made to a Performance Trigger Rate Indexed Account with Protection Level.** 

This Rider is made a part of the Contract to which it is attached and is effective on the Rider Date shown above. Except as stated in this Rider, it is subject to all provisions contained in the Contract. In case of any conflict between the provisions of the Contract and this Rider, the provisions of this Rider will control.

If another Indexed Accounts Rider is attached to the Contract, the provisions of that Indexed Accounts Rider shall govern the rules of the Segments established upon an allocation to or when a reallocation is made to an Indexed Account available under that Rider.

**ALL CONTRACT VALUES PROVIDED BY THIS RIDER MAY INCREASE OR DECREASE IN VALUE AND ARE NOT GUARANTEED AS TO A FIXED DOLLAR AMOUNT.**

**DEFINITIONS**

All definitions found in the Contract are incorporated by reference and have the same meaning as they do in the Contract, including other riders, endorsements, or amendments.

**Performance Trigger Rate Indexed Account with Protection Level** is an account that We establish, subject to the terms of this Rider. Each Performance Trigger Rate Indexed Account with Protection Level is established with an associated Index, Protection Level and a Term.

**Performance Trigger Rate** is the percentage We will use to determine the Performance Rate when the Percentage Change in the Index Value on the End Date is positive or equals zero. The Performance Trigger Rate used during the Term is declared prior to the Start Date of each Segment and it may differ from the Performance Trigger Rates used for other Segments.

**Segment(s)** is a specific Indexed Account option established for the Owner under the Contract. A new Segment of a Performance Trigger Rate Indexed Account with Protection Level is established upon an initial allocation or when a reallocation is made to that Performance Trigger Rate Indexed Account with Protection Level. Each Segment in a particular Performance Trigger Rate Indexed Account with Protection Level has a specific Start Date, End Date, Crediting Base, Performance Trigger Rate and Performance Rate.

24AR-744A Page X of 4NY

**INTERIM VALUE**

The Interim Value is the value that We establish for each Segment of a Performance Trigger Rate Indexed Account with Protection Level on any Valuation Date following the Start Date and prior to the End Date of the Segment.

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) is the value of the Fixed Income Asset Proxy of a Segment on the Valuation Date the Interim Value is calculated.
It is determined for a Segment as:

**C** x **[ 1 / (1** + **F)<sup>D</sup> x (1** + **F)<sup>D</sup> / (1** + **G)<sup>D</sup>]**

<u>where</u>:

**C** is the Crediting Base of the Segment on the Valuation Date of the calculation.

**D** is the total calendar days remaining in the Term divided by 365.

---

| | |
|:---|:---|
| **F** | is the Discount Rate that applies to the Segment on the Start Date of the Segment. It is calculated on the Start Date as (1 - Derivative Asset Proxy per $1 of Crediting Base)<sup>-1/N</sup> - 1, where N = the number of Contract Years in the Term. |

---

---

| | |
|:---|:---|
| **G** | is the Discount Rate that applies to the Segment on the Valuation Date. It is calculated as F plus the change in the Reference Rate from the Start Date to the Valuation Date. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) is the market value of the Derivative Asset Proxy, determined solely by Us, on the Valuation Date of the
calculation.

The Fixed Income Asset Proxy is a hypothetical fixed income asset representing the investment in the Segment.

The Derivative Asset Proxy is determined assuming a package of derivative assets and/or other financial instruments, determined solely by Us, that replicates the Performance Rate on the End Date of the Segment. The value of the package of derivative assets and/or other financial instruments is determined on any Valuation Date that the Interim Value is calculated for a Segment.

The Discount Rate will apply on a uniform basis for a class of Owners in the same Segment and will be administered in a uniform and non-discriminatory manner. The Discount Rate F represents the book yield, and the Discount Rate G represents the market yield on the hypothetical fixed income asset based on the Reference Rate.

The Reference Rate is the sum of the U.S. Constant Maturity Treasury (CMT) yield plus a market observable spread of investment grade U.S. corporate bonds.

The tenor of the CMT is determined by the number of Contract Years remaining in the Segment on the Valuation Date. The number of Contract Years remaining is measured from the most recent Indexed Anniversary Date of the Segment, prior or equal to the Valuation Date, to the End Date of the Segment. If a CMT yield is not published for a time to maturity that matches the Contract Years remaining in the Segment, the yield will be interpolated between the yields for maturities that are published.

The bond spread is the option adjusted spread of the Bloomberg U.S. Corporate Investment Grade Bond Index. We publish this value for each calendar month as of the last business day of the prior calendar month as the LMVA Composite OAS Index under the fixed annuity section of www.lfg.com. Daily values are available publicly with a subscription or by contacting Us.

If We change these components or any of these components are no longer published, or are discontinued, We may substitute another suitable method for determining these components, subject to approval by the New York State Department of Financial Services.

24AR-744A Page X of 4NY

**INTERIM VALUE LOCK**

The Owner may elect to lock the Interim Value of a Segment of a Performance Trigger Rate Indexed Account with Protection Level by providing Notice to Us.

An Election to exercise to lock the Interim Value of a Segment is irrevocable and may be made once during the Contract Year on any Valuation Date of a Term except the Start Date or the End Date for that Segment. We will process the Interim Value lock at the end of the Valuation Date We receive the Owner's Election to exercise the lock.

A Segment's Ending Value will be calculated on the Indexed Anniversary Date that coincides with its End Date.

**SEGMENT VALUE**

**SEGMENT ENDING VALUE.** On the End Date, the Segment Ending Value of a Segment of a Performance Trigger Rate Indexed Account with Protection Level is the amount equal to the sum of (A) and ((A) multiplied by (B)), where:

A is the Crediting Base on the End Date; and

B is the Performance Rate on the End Date.

When the Interim Value lock as described in the INTERIM VALUE LOCK provision of this Rider is elected, the Segment's Ending Value is equal to its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals.

**CREDITING BASE DURING THE TERM**. The Crediting Base on the Start Date of a Segment is equal to the initial amount allocated or reallocated to the Segment. Thereafter, at the end of each Valuation Date during the Term, the Crediting Base is reduced proportionately by the amount that a Withdrawal reduced the Segment's Interim Value.

24AR-744A Page X of 4NY

**DETERMINING THE PERFORMANCE RATE ON THE END DATE.** The Performance Rate on the End Date is the specific Percentage Change in the Index Value between two points in time during a Term, adjusted by the Protection Level and subject to the Performance Trigger Rate.

The Performance Rate is not calculated on the End Date when an Interim Value lock is elected.

Instead, the Segment's Ending Value will be equal to its locked Interim Value, reduced by the dollar amount of any applicable Withdrawals.

If an Election to lock a Segment is not exercised during its Term, the Percentage Change in the Index Value equals the percentage increase or decrease in the Index Value calculated by (A) divided by (B), where:

A is the Index Value on the End Date minus the Index Value on the Start Date; and

B is the Index Value on the Start Date.

The Performance Rate on the End Date, when the Percentage Change in the Index Value on the End Date is:

&nbsp;&nbsp;&nbsp;&nbsp;(a) zero, is equal to the Performance Trigger Rate.

&nbsp;&nbsp;&nbsp;&nbsp;(b) positive, is equal to the Performance Trigger Rate.

&nbsp;&nbsp;&nbsp;&nbsp;(c) negative and the absolute value is less than or equal to the Protection Level, is equal to zero.

&nbsp;&nbsp;&nbsp;&nbsp;(d) negative and the absolute value is greater than the Protection Level, is equal to the sum of the Percentage
Change in the Index Value on the End Date and the Protection Level.

Absolute value means the magnitude of the number without regard to its mathematical sign. Examples of absolute values are the absolute value of -10 is 10 or the absolute value of 4 is 4.

**RIDER CHARGE**

There is no charge for this Rider.

**TERMINATION OF THIS RIDER**

This Rider will terminate on the earliest of the following event to occur:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement
Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the date the Contract to which this Rider is attached
terminates.

![](tm265270d1_ex99-bxdx13img05.jpg)

24AR-744A Page X of 4NY

## Ex-99.B(D)(14)

**Exhibit 99.B(d)(14)**

**Lincoln Life & Annuity Company of New York**

**INDEXED ACCOUNTS RIDER** 

**PERFORMANCE CAP ANNUAL LOCKS INDEXED ACCOUNTS WITH**

**PROTECTION LEVEL**

**Rider Date**: December 20, 2024

**This Rider establishes a point-to-point Performance Cap indexed crediting strategy with Annual Locks and Protection Level for the Contract to which it is added. The provisions of this Rider are effective when a new Segment is established upon an initial allocation to or when a reallocation is made to a Performance Cap Annual Locks Indexed Account with Protection Level.** 

This Rider is made a part of the Contract to which it is attached and is effective on the Rider Date shown above. Except as stated in this Rider, it is subject to all provisions contained in the Contract. In case of any conflict between the provisions of the Contract and this Rider, the provisions of this Rider will control.

If another Indexed Accounts Rider is attached to the Contract, the provisions of that Indexed Accounts Rider shall govern the rules of the Segments established upon an allocation to or when a reallocation is made to an Indexed Account available under that Rider.

**ALL CONTRACT VALUES PROVIDED BY THIS RIDER MAY INCREASE OR DECREASE IN VALUE AND ARE NOT GUARANTEED AS TO A FIXED DOLLAR AMOUNT.**

**DEFINITIONS**

All definitions found in the Contract are incorporated by reference and have the same meaning as they do in the Contract, including other riders, endorsements, or amendments.

**Performance Cap** is the maximum percentage We will use to determine the Performance Rate when the Percentage Change in the Index Value on each Indexed Anniversary Date including the End Date, is positive. The Performance Cap used during the Term is declared prior to the Start Date of each Segment and it may differ from the Performance Caps used for other Segments.

**Performance Cap Annual Locks Indexed Account with Protection Level** is an account that We establish, subject to the terms of this Rider. Each Performance Cap Annual Locks Indexed Account with Protection Level is established with an associated Index, Protection Level and a Term.

**Protection Level**, for the purposes of this Rider, is the maximum percentage of loss that will be excluded when determining the Performance Rate on each Indexed Anniversary Date including the End Date, if the Percentage Change in the Index Value on each Indexed Anniversary Date including the End Date is negative. The Protection Level is expressed as a positive percentage.

**Segment(s)** is a specific Indexed Account option established for the Owner under the Contract. A new Segment of a Performance Cap Annual Locks Indexed Account with Protection Level is established upon an initial allocation or when a reallocation is made to that Performance Cap Annual Locks Indexed Account with Protection Level. Each Segment in a particular Performance Cap Annual Locks Indexed Account with Protection Level has a specific Start Date, End Date, Crediting Base, Performance Cap and Performance Rates.

24AR-747 Page 1 of 4NY

**INTERIM VALUE**

The Interim Value is the value that We establish for each Segment of a Performance Cap Annual Locks Indexed Account with Protection Level on any Valuation Date following the Start Date and prior to the End Date of the Segment.

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) is the value of the Fixed Income Asset Proxy of a Segment on the Valuation Date the Interim Value is calculated.
It is determined for a Segment as:

**C** x **[ 1 / (1** + **F)<sup>D</sup> x (1** + **F)<sup>D</sup> / (1** + **G)<sup>D</sup>]**

<u>where</u>:

**C** is the initial Crediting Base of the Segment that has been proportionately reduced for any Withdrawals, including applicable Surrender Charges, that have occurred during the Term prior to the Valuation Date of the calculation.

**D** is the total calendar days remaining in the Term divided by 365.

---

| | |
|:---|:---|
| **F** | is the Discount Rate that applies to the Segment on the Start Date of the Segment. It is calculated on the Start Date as (1 - Derivative Asset Proxy per $1 of Crediting Base)<sup>-1/N</sup> - 1, where N = the number of Contract Years in the Term. |

---

---

| | |
|:---|:---|
| **G** | is the Discount Rate that applies to the Segment on the Valuation Date. It is calculated as F plus the change in the Reference Rate from the Start Date to the Valuation Date. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) is the market value of the Derivative Asset Proxy, determined solely by Us, on the Valuation Date of the
calculation.

The Fixed Income Asset Proxy is a hypothetical fixed income asset representing the investment in the Segment.

The Derivative Asset Proxy is determined assuming a package of derivative assets and/or other financial instruments, determined solely by Us, that replicates the Performance Rate on the End Date of the Segment. The value of the package of derivative assets and/or other financial instruments is determined on any Valuation Date that the Interim Value is calculated for a Segment.

The Discount Rate will apply on a uniform basis for a class of Owners in the same Segment and will be administered in a uniform and non-discriminatory manner. The Discount Rate F represents the book yield, and the Discount Rate G represents the market yield on the hypothetical fixed income asset based on the Reference Rate.

The Reference Rate is the sum of the U.S. Constant Maturity Treasury (CMT) yield plus a market observable spread of investment grade U.S. corporate bonds.

The tenor of the CMT is determined by the number of Contract Years remaining in the Segment on the Valuation Date. The number of Contract Years remaining is measured from the most recent Indexed Anniversary Date of the Segment, prior or equal to the Valuation Date, to the End Date of the Segment. If a CMT yield is not published for a time to maturity that matches the Contract Years remaining in the Segment, the yield will be interpolated between the yields for maturities that are published.

The bond spread is the option adjusted spread of the Bloomberg U.S. Corporate Investment Grade Bond Index. We publish this value for each calendar month as of the last business day of the prior calendar month as the LMVA Composite OAS Index under the fixed annuity section of www.lfg.com. Daily values are available publicly with a subscription or by contacting Us.

If We change these components or any of these components are no longer published, or are discontinued, We may substitute another suitable method for determining these components, subject to approval by the New York State Department of Financial Services.

24AR-747 Page 2 of 4NY

**SEGMENT VALUE**

**SEGMENT ENDING VALUE.** The Segment Ending Value of a Segment of a Performance Cap Annual Locks Indexed Account with Protection Level is the amount equal to the Crediting Base after the calculation of the adjustment to the Crediting Base on the End Date.

On each Indexed Anniversary Date including the End Date, the Crediting Base is adjusted to equal the sum of (A) and ((A) multiplied by (B)), where:

A is the Crediting Base immediately prior to an Indexed Anniversary Date adjustment; and

B is the Performance Rate on that Indexed Anniversary Date including the End Date.

24AR-747 Page 3 of 4NY

**CREDITING BASE DURING THE TERM**. The Crediting Base on the Start Date of a Segment is equal to the initial amount allocated or reallocated to the Segment.

Thereafter, at the end of each Valuation Date during the Term, the Crediting Base is:

&nbsp;&nbsp;&nbsp;&nbsp;(a) adjusted by the Performance Rate on each Indexed Anniversary Date; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) reduced proportionately by the amount that a Withdrawal, including applicable Surrender Charges, reduced
the Segment's Interim Value.

**DETERMINING THE PERFORMANCE RATE ON EACH INDEXED ANNIVERSARY DATE, INCLUDING THE END DATE.** The Performance Rate on each Indexed Anniversary Date including the End Date is the specific Percentage Change in the Index Value on those Indexed Anniversary Dates, adjusted by the Protection Level and subject to the Performance Cap.

The Percentage Change in the Index Value on each Indexed Anniversary Date including the End Date equals the percentage increase or decrease in the Index Value calculated by (A) divided by (B), where:

A is the Index Value on each Indexed Anniversary Date including the End Date, minus the Index Value as of the previous Indexed Anniversary Date (or the initial Start Date, as applicable); and

B is the Index Value as of the previous Indexed Anniversary Date (or the initial Start Date, as applicable).

The Performance Rate on each Indexed Anniversary Date including the End Date, when the Percentage Change in the Index Value on those Indexed Anniversary Dates is:

&nbsp;&nbsp;&nbsp;&nbsp;(a) zero, is equal to zero.

&nbsp;&nbsp;&nbsp;&nbsp;(b) positive and equal to or greater than the Performance Cap, is equal to the Performance Cap.

&nbsp;&nbsp;&nbsp;&nbsp;(c) positive and less than the Performance Cap, is equal to the Percentage Change in the Index Value.

&nbsp;&nbsp;&nbsp;&nbsp;(d) negative and the absolute value is less than or equal to the Protection Level, is equal to zero.

&nbsp;&nbsp;&nbsp;&nbsp;(e) negative and the absolute value is greater than the Protection Level, is equal to the sum of the Percentage
Change in the Index Value and the Protection Level.

Absolute value means the magnitude of the number without regard to its mathematical sign. Examples of absolute values are the absolute value of -10 is 10 or the absolute value of 4 is 4.

**RIDER CHARGE**

There is no charge for this Rider.

**TERMINATION OF THIS RIDER**

This Rider will terminate on the earliest of the following event to occur:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement
Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the date the Contract to which this Rider is attached
terminates.

![](tm265270d1_ex99-bxdx14img06.jpg)

24AR-747 Page 4 of 4NY

## Ex-99.B(D)(15)

**Exhibit 99.B(d)(15)**

**Lincoln Life & Annuity Company of New York**

**INDEXED ACCOUNTS RIDER** 

**PERFORMANCE CAP ANNUAL LOCKS INDEXED ACCOUNTS WITH**

**PROTECTION LEVEL**

**Rider Date**: December 20, 2024

**This Rider establishes a point-to-point Performance Cap indexed crediting strategy with Annual Locks and Protection Level for the Contract to which it is added. The provisions of this Rider are effective when a new Segment is established upon an initial allocation to or when a reallocation is made to a Performance Cap Annual Locks Indexed Account with Protection Level.** 

This Rider is made a part of the Contract to which it is attached and is effective on the Rider Date shown above. Except as stated in this Rider, it is subject to all provisions contained in the Contract. In case of any conflict between the provisions of the Contract and this Rider, the provisions of this Rider will control.

If another Indexed Accounts Rider is attached to the Contract, the provisions of that Indexed Accounts Rider shall govern the rules of the Segments established upon an allocation to or when a reallocation is made to an Indexed Account available under that Rider.

**ALL CONTRACT VALUES PROVIDED BY THIS RIDER MAY INCREASE OR DECREASE IN VALUE AND ARE NOT GUARANTEED AS TO A FIXED DOLLAR AMOUNT.**

**DEFINITIONS**

All definitions found in the Contract are incorporated by reference and have the same meaning as they do in the Contract, including other riders, endorsements, or amendments.

**Performance Cap** is the maximum percentage We will use to determine the Performance Rate when the Percentage Change in the Index Value on each Indexed Anniversary Date including the End Date, is positive. The Performance Cap used during the Term is declared prior to the Start Date of each Segment and it may differ from the Performance Caps used for other Segments.

**Performance Cap Annual Locks Indexed Account with Protection Level** is an account that We establish, subject to the terms of this Rider. Each Performance Cap Annual Locks Indexed Account with Protection Level is established with an associated Index, Protection Level and a Term.

**Protection Level**, for the purposes of this Rider, is the maximum percentage of loss that will be excluded when determining the Performance Rate on each Indexed Anniversary Date including the End Date, if the Percentage Change in the Index Value on each Indexed Anniversary Date including the End Date is negative. The Protection Level is expressed as a positive percentage.

**Segment(s)** is a specific Indexed Account option established for the Owner under the Contract. A new Segment of a Performance Cap Annual Locks Indexed Account with Protection Level is established upon an initial allocation or when a reallocation is made to that Performance Cap Annual Locks Indexed Account with Protection Level. Each Segment in a particular Performance Cap Annual Locks Indexed Account with Protection Level has a specific Start Date, End Date, Crediting Base, Performance Cap and Performance Rates.

24AR-747A Page 1 of 4NY

**INTERIM VALUE**

The Interim Value is the value that We establish for each Segment of a Performance Cap Annual Locks Indexed Account with Protection Level on any Valuation Date following the Start Date and prior to the End Date of the Segment.

The Interim Value of a Segment is equal to the sum of (1) and (2), where:

&nbsp;&nbsp;&nbsp;&nbsp;(1) is the value of the Fixed Income Asset Proxy of a Segment on the Valuation Date the Interim Value is calculated.
It is determined for a Segment as:

**C** x **[ 1 / (1** + **F)<sup>D</sup> x (1** + **F)<sup>D</sup> / (1** + **G)<sup>D</sup>]**

<u>where</u>:

**C** is the initial Crediting Base of the Segment that has been proportionately reduced for any Withdrawals that have occurred during the Term prior to the Valuation Date of the calculation.

**D** is the total calendar days remaining in the Term divided by 365.

---

| | |
|:---|:---|
| **F** | is the Discount Rate that applies to the Segment on the Start Date of the Segment. It is calculated on the Start Date as (1 - Derivative Asset Proxy per $1 of Crediting Base)<sup>-1/N</sup> - 1, where N = the number of Contract Years in the Term. |

---

---

| | |
|:---|:---|
| **G** | is the Discount Rate that applies to the Segment on the Valuation Date. It is calculated as F plus the change in the Reference Rate from the Start Date to the Valuation Date. |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) is the market value of the Derivative Asset Proxy, determined solely by Us, on the Valuation Date of the
calculation.

The Fixed Income Asset Proxy is a hypothetical fixed income asset representing the investment in the Segment.

The Derivative Asset Proxy is determined assuming a package of derivative assets and/or other financial instruments, determined solely by Us, that replicates the Performance Rate on the End Date of the Segment. The value of the package of derivative assets and/or other financial instruments is determined on any Valuation Date that the Interim Value is calculated for a Segment.

The Discount Rate will apply on a uniform basis for a class of Owners in the same Segment and will be administered in a uniform and non-discriminatory manner. The Discount Rate F represents the book yield, and the Discount Rate G represents the market yield on the hypothetical fixed income asset based on the Reference Rate.

The Reference Rate is the sum of the U.S. Constant Maturity Treasury (CMT) yield plus a market observable spread of investment grade U.S. corporate bonds.

The tenor of the CMT is determined by the number of Contract Years remaining in the Segment on the Valuation Date. The number of Contract Years remaining is measured from the most recent Indexed Anniversary Date of the Segment, prior or equal to the Valuation Date, to the End Date of the Segment. If a CMT yield is not published for a time to maturity that matches the Contract Years remaining in the Segment, the yield will be interpolated between the yields for maturities that are published.

The bond spread is the option adjusted spread of the Bloomberg U.S. Corporate Investment Grade Bond Index. We publish this value for each calendar month as of the last business day of the prior calendar month as the LMVA Composite OAS Index under the fixed annuity section of www.lfg.com. Daily values are available publicly with a subscription or by contacting Us.

If We change these components or any of these components are no longer published, or are discontinued, We may substitute another suitable method for determining these components, subject to approval by the New York State Department of Financial Services.

24AR-747A Page 2 of 4NY

**SEGMENT VALUE**

**SEGMENT ENDING VALUE.** The Segment Ending Value of a Segment of a Performance Cap Annual Locks Indexed Account with Protection Level is the amount equal to the Crediting Base after the calculation of the adjustment to the Crediting Base on the End Date.

On each Indexed Anniversary Date including the End Date, the Crediting Base is adjusted to equal the sum of (A) and ((A) multiplied by (B)), where:

A is the Crediting Base immediately prior to an Indexed Anniversary Date adjustment; and

B is the Performance Rate on that Indexed Anniversary Date including the End Date.

24AR-747A Page 3 of 4NY

**CREDITING BASE DURING THE TERM**. The Crediting Base on the Start Date of a Segment is equal to the initial amount allocated or reallocated to the Segment.

Thereafter, at the end of each Valuation Date during the Term, the Crediting Base is:

&nbsp;&nbsp;&nbsp;&nbsp;(a) adjusted by the Performance Rate on each Indexed Anniversary Date; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) reduced proportionately by the amount that a Withdrawal reduced the Segment's Interim Value.

**DETERMINING THE PERFORMANCE RATE ON EACH INDEXED ANNIVERSARY DATE, INCLUDING THE END DATE.** The Performance Rate on each Indexed Anniversary Date including the End Date is the specific Percentage Change in the Index Value on those Indexed Anniversary Dates, adjusted by the Protection Level and subject to the Performance Cap.

The Percentage Change in the Index Value on each Indexed Anniversary Date including the End Date equals the percentage increase or decrease in the Index Value calculated by (A) divided by (B), where:

A is the Index Value on each Indexed Anniversary Date including the End Date, minus the Index Value as of the previous Indexed Anniversary Date (or the initial Start Date, as applicable); and

B is the Index Value as of the previous Indexed Anniversary Date (or the initial Start Date, as applicable).

The Performance Rate on each Indexed Anniversary Date including the End Date, when the Percentage Change in the Index Value on those Indexed Anniversary Dates is:

&nbsp;&nbsp;&nbsp;&nbsp;(a) zero, is equal to zero.

&nbsp;&nbsp;&nbsp;&nbsp;(b) positive and equal to or greater than the Performance Cap, is equal to the Performance Cap.

&nbsp;&nbsp;&nbsp;&nbsp;(c) positive and less than the Performance Cap, is equal to the Percentage Change in the Index Value.

&nbsp;&nbsp;&nbsp;&nbsp;(d) negative and the absolute value is less than or equal to the Protection Level, is equal to zero.

&nbsp;&nbsp;&nbsp;&nbsp;(e) negative and the absolute value is greater than the Protection Level, is equal to the sum of the Percentage
Change in the Index Value and the Protection Level.

Absolute value means the magnitude of the number without regard to its mathematical sign. Examples of absolute values are the absolute value of -10 is 10 or the absolute value of 4 is 4.

**RIDER CHARGE**

There is no charge for this Rider.

**TERMINATION OF THIS RIDER**

This Rider will terminate on the earliest of the following event to occur:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Annuity Commencement
Date; or

&nbsp;&nbsp;&nbsp;&nbsp;(b) the date the Contract to which this Rider is attached
terminates.

![](tm265270d1_ex99-bxdx15img07.jpg)

24AR-747A Page 4 of 4NY

## Ex-99.B(E)(1)

**Exhibit 99.B(e)(1)**

---

| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex1img001.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 1 of 72/26 MAY 26 ANF12700NY-LV2 Individual Single Purchase Payment Index-Linked Deferred Annuity Application Lincoln Life & Annuity Company of New York (Company) Syracuse, New York Servicing Office: PO Box 2348, Fort Wayne, IN 46801-2348 Overnight Address: 1301 S Harrison St., Fort Wayne, IN 46802-3425 Service Center: 877-534-4636 Sales Desk: 877-533-0265 Applicants signing in New York must use this form. Instructions: Please type or print.ANYALTERATIONS TO THISAPPLICATION MUST BE INITIALEDAND DATED BYTHEAPPLICANT. ALL "REQUIRED" SECTIONS MUST BE COMPLETED. Product Options: Lincoln Level Advantage 2® B-Share Type of Contract Being Applied For – Required Non-Qualified (Do NOT select Plan Type) Tax-Qualified (MUST select Plan Type, below) Plan Type (Check One): Roth IRA Traditional IRA SEP IRA Contract Owner (Owner)1 – Required Name/Trust2 : Date of Birth: SSN/TIN: Male Female Home Telephone: Physical Address: Mobile Telephone: City, State & Zip Code: Citizen of (Country): Email Address: Date of Trust: Trustee Name(s): Is Trust Revocable: Yes No Joint Contract Owner (Joint Owner)1 , if any – Non-Qualified Contract Only Name: Date of Birth: SSN/TIN: Male Female Home Telephone: Physical Address: Mobile Telephone: City, State & Zip Code: Citizen of (Country): Email Address: Relationship to Owner: Spouse Non-Spouse Annuitant1 – If no Annuitant is specified, the Owner, or Joint Owner (if younger), will be the Annuitant. Same as: Owner Joint Owner Other – Complete information: Relationship to Owner: Name: Date of Birth: SSN/TIN: Male Female Home Telephone: Physical Address: Mobile Telephone: City, State & Zip Code: Citizen of (Country): Email Address: 1 Minimum and maximum age restrictions apply for all Owners and Annuitants. 2 Additional documentation required. Please Complete and Return the Certification of Trustee Powers Form (AN07086). Continued on next page |

---

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex1img002.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 2 of 7 2/26 MAY 26 ANF12700NY-LV2 Contingent Annuitant1 , if any (not available on qualified or non-natural owner, except for Charitable Remainder Trust) Same as: Owner Joint Owner Other – Complete information: Relationship to Owner: Name: Date of Birth: SSN/TIN: Male Female Home Telephone: Physical Address: Mobile Telephone: City, State & Zip Code: Citizen of (Country): Beneficiary(ies) – Required Beneficiaries share equally unless otherwise indicated. If a percentage is indicated, use whole number percentages and the allocation total must equal 100%. Additional beneficiaries can be listed below in Additional Remarks. 1. % Primary Name: Date of Birth: Relationship to Owner: Male Female SSN/TIN: Email Address: Telephone: Physical Address: 2. % Name: Date of Birth: Relationship to Owner: Male Female SSN/TIN: Email Address: Telephone: Physical Address: Primary Contingent 3. % Name: Date of Birth: Relationship to Owner: Male Female SSN/TIN: Email Address: Telephone: Physical Address: Primary Contingent Replacement Information – Required (All information needs to be completed.) Yes No Do you own any existing annuities or life insurance? Yes No Do you intend this purchase to replace or change any existing annuity contract or life insurance policy? (Financial Professional/Agent: Complete a separate New York Definition of Replacement form. Refer to the Annuity Instructions for Completing Regulation 60 Forms if any questions on that Definition of Replacement form are answered Yes.) Company Approximate Transfer Amount Policy/Contract Number Replacement of Annuity/Life $ Annuity Life $ Annuity Life $ Annuity Life |

---

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| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex1img003.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 3 of 7 2/26 MAY 26 ANF12700NY-LV2 Single Purchase Payment – Minimum $25,000. The contract will issue when all expected deposits/transfers are received at our Servicing Office. However, if 45 calendar days after the signed date of your application not all deposits/transfers are received, we will automatically issue the contract with the deposits/transfers received if it meets the minimum requirements. Please Indicate: New Deposit $1035 Exchange (Non-Qualified) $ Transfer (Qualified) $ Rollover3 (Qualified) $ Total Expected Amount: $ How many separate deposits/transfers are expected? – If this field is not complete, your request will not be processed. 1 2 3 4 5 Other: For Non-Qualified Contract Indicate Source of Funds (i.e. Brokerage Account, Inheritance, etc.): For Deceased Contract Please Check: (Includes Beneficiary IRA) Spousal Continuation – Spouse of the original contract owner is the 100% Primary Beneficiary and will be moving funds into their own new Individual Contract. Death Benefit Contract Value Death Benefit (the Contract Value on the date a death claim is approved by Us) Additional Remarks 3 Important Note Regarding IRA Rollovers. The one-rollover-per-year limitation will be applied on an aggregate basis to all IRAs you own. You cannot make a tax-free IRA-to-IRA rollover if you have made such a rollover involving any of your IRAs in the current tax year. This limitation does not apply to direct trustee-to-trustee transfers. |

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| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex1img004.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 4 of 7 2/26 MAY 26 ANF12700NY-LV2 Indexed Accounts4 – Allocation Percentages must add up to 100% (using whole numbers). Minimum allocation to an account is $2,000. PERFORMANCE CAP: 1-Year Indexed Accounts % S&P 500® Cap, 10% Protection % S&P 500® Cap, 15% Protection % S&P 500® Cap, 20% Protection % Russell 2000® Cap, 10% Protection % Capital Strength IndexSM Cap, 10% Protection % Capital Strength IndexSM Cap, 15% Protection % First Trust American Leadership Cap, 10% Protection % First Trust American Leadership Cap, 15% Protection % Nasdaq-100 Cap, 10% Protection PERFORMANCE TRIGGER: 1-Year Indexed Accounts % S&P 500® Performance Trigger, 10% Protection % S&P 500® Performance Trigger, 15% Protection % S&P 500® Performance Trigger, 20% Protection % Nasdaq-100 Performance Trigger, 10% Protection DUAL PERFORMANCE TRIGGER: 1-Year Indexed Accounts % S&P 500® Dual Performance Trigger, 10% Protection % Russell 2000® Dual Performance Trigger, 10% Protection % Capital Strength Index Dual Performance Trigger, 10% Protection % First Trust American Leadership Dual Performance Trigger, 10% Protection DUAL PLUS: 6-Year Indexed Accounts with Performance Cap % S&P 500® Dual10 Plus % S&P 500® Dual15 Plus % Russell 2000® Dual15 Plus % Capital Strength IndexSM Dual15 Plus % First Trust American Leadership Dual15 Plus PERFORMANCE CAP: 6-Year Indexed Accounts % S&P 500® Cap, 10% Protection % S&P 500® Cap, 15% Protection % S&P 500® Cap, 25% Protection % Russell 2000® Cap, 10% Protection % Russell 2000® Cap, 15% Protection % Capital Strength IndexSM Cap, 10% Protection % Capital Strength IndexSM Cap, 15% Protection % Capital Strength IndexSM Cap, 25% Protection % First Trust American Leadership Cap, 10% Protection % First Trust American Leadership Cap, 15% Protection ANNUAL LOCK: 6-Year Indexed Accounts with Performance Cap % Annual Lock S&P 500® Cap, 10% Protection Indexed Account Key Terms Dual Plus: An account that provides the greater of the dual rate or the index return up to the Performance Cap if the index change is up or flat. If the index change is down, the dual rate is added to the index loss, which may provide a positive return. Performance Cap: The most growth (or ceiling) you can earn for an indexed term. For annual lock accounts, it is the maximum percentage you can earn each year of the term. Protection Level: The portion of loss that Lincoln will absorb from any negative index performance. If the negative index performance is in excess of the Protection Level, there is risk of loss of principal to the Contract Owner. Please see the last page for additional disclosures regarding the indices. 4 Applicable Rates are available on LincolnFinancial.com. |

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| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex1img005.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 5 of 7 2/26 MAY 26 ANF12700NY-LV2 Declarations and Signatures – Required By signing below, I/we understand and agree that: 1. The application will be attached to and made part of the contract when issued. 2. The information contained in this application is true, complete, and correct to the best of my/our knowledge and belief. 3. The statements made shall form the exclusive basis of any annuity issued. 4. Checks must be made payable to Lincoln Life & Annuity Company of New York, not to the Financial Professional/Agent. The cancelled check is the receipt. 5. Only a Company officer can make, modify, discharge, or waive any of the Company's rights and only in writing. 6. Placing an annuity in a tax qualified retirement plan (for example, an IRA) will result in no additional tax advantage from the annuity. 7. Any annuity issued upon this application shall be considered a contract. The contract issued upon this application shall be subject to the laws of the state of New York. 8. The annuity will become effective on the date of issue. In the event that the initial purchase payment for this application is not acceptable, the Company's liability will be limited to a return of any payment made. 9. Surrender charges may apply to withdrawals, surrender of the annuity contract or an exchange for another annuity contract prior to the expiration of any surrender charge period. 10. I/We understand the calculation of the death benefit. 11. The Indexed Accounts chosen will be applicable on the Contract effective date. I/We understand that I/we can lose money on Indexed Accounts. 12. Any Withdrawal, Surrender, annuitization or payment of a Death Benefit from an Indexed Account during a Term will be based on the Interim Value of each Segment, and the Withdrawal will reduce the Crediting Base for each Segment proportionately by the amount that the Withdrawal reduced the Interim Value. 13. The Company reserves the right to limit total Purchase Payments for all the Company Index-Linked Deferred Annuity Contracts, including Contracts with an affiliated Company, for which the Owner, Joint Owner or Annuitant is a measuring life. I/We acknowledge receipt of a current prospectus and verify my/our understanding that all payments and values provided by the contract, when based on investment experience are not guaranteed to a dollar amount. Taxpayer Identification Number and Certification (Substitute Form W-9) Under penalties of perjury, the Owner(s) certifies that: 1. The Social Security Number(s) or Federal Tax Identification Number(s) provided for the Owner(s) is the correct number (or the Owner(s) is waiting for a number to be issued); 2. The Owner(s) is not subject to backup withholding either because (a) the Owner(s) is exempt from backup withholding, or (b) the Owner(s) has not been notified by the Internal Revenue Service (IRS) that the Owner(s) is subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified the Owner(s) that he or she is no longer subject to backup withholding; 3. The Owner(s) is a U.S. citizen or other U.S. person; and 4. The Foreign Account Tax Compliance Act (FATCA) code(s) entered on this form (if any) indicating that the Owner(s) is exempt from FATCA reporting is correct. Exemption from FATCA reporting code (if any) . Certification Instructions By checking this box you are crossing out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. |

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| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex1img006.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 6 of 7 2/26 MAY 26 ANF12700NY-LV2 Declarations and Signatures – Required – continued The IRS does not require your consent to any provision of this document other than the certifications required to avoid backup withholding. Contract Owner Signature Signed in (City and State) Date Joint Contract Owner, if any, Signature Signed in (City and State) Date Annuitant Signature (if other than Owner) Date Contingent Annuitant, if any, Signature Date Financial Professional/Agent Signature – Required (All information needs to be completed.) Yes No Does the applicant have any existing annuity contracts or life insurance policies? Yes No Will the proposed contract replace or change any existing annuity or life insurance? (Financial Professional/Agent: Complete a separate New York Definition of Replacement form. Refer to the Annuity Instructions for Completing Regulation 60 Forms if any questions on that Definition of Replacement form are answered Yes.) The Financial Professional/Agent hereby certifies he/she witnessed the signature(s) in the Declarations and Signatures section and that all information contained in this application is true to the best of his/her knowledge and belief. The Financial Professional/ Agent also certifies that he/she has used only Company approved sales materials in conjunction with the sale and copies of all sales materials were left with the applicant(s). Any electronically presented sales material will be provided in printed form to the applicant no later than at the time of the contract delivery. I have provided the owner/applicant/joint applicant with all disclosures that I am required to provide under any applicable rule, laws or regulation regarding the sale of this product. Financial Professional/Agent Signature |

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| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex1img007.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 7 of 7 2/26 MAY 26 ANF12700NY-LV2 The S&P 500® Price Return Index is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by The Lincoln National Life Insurance Company. Standard & Poor's® , S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by The Lincoln National Life Insurance Company. The Lincoln National Life Insurance Company's products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such products nor do they have any liability for any errors, omissions, or interruptions of the S&P 500® Index. The Russell 2000® Price Return Index (the "Index") is a trademark of Frank Russell Company ("Russell") and has been licensed for use by The Lincoln National Life Insurance Company. Lincoln products are not in any way sponsored, endorsed, sold or promoted by Russell or the London Stock Exchange Group companies ("LSEG") (together the "Licensor Parties") and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the Index (upon which the Lincoln's products are based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with Lincoln's products. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to Lincoln or to its clients. The Index is calculated by Russell or its agent. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein. Nasdaq® and the Capital Strength Net Fee IndexSM are registered trademarks of NASDAQ, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by The Lincoln National Life Insurance Company. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S). The level of the index may reflect the deduction of an annual fee. See prospectus for details. The First Trust American Leadership IndexTM ("FTIS Index") is a product of and owned by FT Indexing Solutions LLC ("FTIS"). FIRST TRUST® and FIRST TRUST AMERICAN LEADERSHIP INDEXTM are trademarks of First Trust Portfolios L.P. (collectively, with FTIS and their respective affiliates, "First Trust"). The foregoing index and trademarks have been licensed for use for certain purposes by Licensee in connection with the Product. The Dow Jones Internet Composite IndexTM ("Dow Index") is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by FTIS and Licensee. S&P® is a trademark of Standard & Poor's Financial Service LLC. DOW JONES® and DOW JONES INTERNET COMPOSITE INDEX are trademarks of Dow Jones Trademark Holdings LLC ("Dow Jones"). The foregoing trademarks have been licensed for use by SPDJI and have been sublicensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and the Product. The Nasdaq U.S. Rising Dividend Achievers IndexTM and Nasdaq Technology Dividend IndexTM are products of Nasdaq, Inc. (which with its affiliates is referred to as the "Nasdaq"). NASDAQ® , NASDAQ U.S. RISING DIVIDEND ACHIEVERS INDEX, and NASDAQ TECHNOLOGY DIVIDEND INDEX are trademarks of Nasdaq. The foregoing indices (collectively, the "Nasdaq Indices") and trademarks have been licensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and Product. The Nasdaq Riskalyze U.S. Large Cap Select Dividend IndexTM ("Riskalyze Index") is a product of Riskalyze, Inc. ("Riskalyze"). RISKALYZE® and NASDAQ RISKALYZE U.S. LARGE CAP SELECT DIVIDEND INDEX are trademarks of Riskalyze. NASDAQ® is a trademark of Nasdaq, Inc. The foregoing index and trademarks have been licensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and the Product. The Product is not issued, sponsored, endorsed, sold, recommended, or promoted by First Trust, SPDJI, Dow Jones, Nasdaq, Riskalyze, or their respective affiliates (collectively, the "Companies"). The Companies do not make any representation regarding the advisability of investing in the Product or products based on the FTIS Index, Dow Index, Nasdaq Indices, or Riskalyze Index, do not make any warranties or bear any liability with respect to such products, and do not make any warranties or bear any liability with respect to the Product or another party's index. |

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## Ex-99.B(E)(2)

**Exhibit 99.B(e)(2)**

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| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex2img001.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 1 of 72/26 MAY 26 ANF12701NY-LV2ADV Individual Single Purchase Payment Index-Linked Deferred Annuity Application Lincoln Life & Annuity Company of New York (Company) Syracuse, New York Servicing Office: PO Box 2348, Fort Wayne, IN 46801-2348 Overnight Address: 1301 S Harrison St., Fort Wayne, IN 46802-3425 Service Center: 877-534-4636 Sales Desk: 877-533-0265 Applicants signing in New York must use this form. Instructions:Please type or print.ANYALTERATIONSTOTHISAPPLICATION MUSTBEINITIALEDAND DATED BYTHEAPPLICANT. ALL "REQUIRED" SECTIONS MUST BE COMPLETED. Product Options: Lincoln Level Advantage 2® Advisory Type of Contract Being Applied For – Required Non-Qualified (Do NOT select Plan Type) Tax-Qualified (MUST select Plan Type, below) Plan Type (Check One): Roth IRA Traditional IRA SEP IRA Contract Owner (Owner)1 – Required Name/Trust2 : Date of Birth: SSN/TIN: Male Female Home Telephone: Physical Address: Mobile Telephone: City, State & Zip Code: Citizen of (Country): Email Address: Date of Trust: Trustee Name(s): Is Trust Revocable: Yes No Joint Contract Owner (Joint Owner)1 , if any – Non-Qualified Contract Only Name: Date of Birth: SSN/TIN: Male Female Home Telephone: Physical Address: Mobile Telephone: City, State & Zip Code: Citizen of (Country): Email Address: Relationship to Owner: Spouse Non-Spouse Annuitant1 – If no Annuitant is specified, the Owner, or Joint Owner (if younger), will be the Annuitant. Same as: Owner Joint Owner Other – Complete information: Relationship to Owner: Name: Date of Birth: SSN/TIN: Male Female Home Telephone: Physical Address: Mobile Telephone: City, State & Zip Code: Citizen of (Country): Email Address: 1 Minimum and maximum age restrictions apply for all Owners and Annuitants. 2 Additional documentation required. Please Complete and Return the Certification of Trustee Powers Form (AN07086). Continued on next page |

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| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex2img002.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 2 of 7 2/26 MAY 26 ANF12701NY-LV2ADV Contingent Annuitant1 , if any (not available on qualified or non-natural owner, except for Charitable Remainder Trust) Same as: Owner Joint Owner Other – Complete information: Relationship to Owner: Name: Date of Birth: SSN/TIN: Male Female Home Telephone: Physical Address: Mobile Telephone: City, State & Zip Code: Citizen of (Country): Beneficiary(ies) – Required Beneficiaries share equally unless otherwise indicated. If a percentage is indicated, use whole number percentages and the allocation total must equal 100%. Additional beneficiaries can be listed below in Additional Remarks. 1. % Primary Name: Date of Birth: Relationship to Owner: Male Female SSN/TIN: Email Address: Telephone: Physical Address: 2. % Name: Date of Birth: Relationship to Owner: Male Female SSN/TIN: Email Address: Telephone: Physical Address: Primary Contingent 3. % Name: Date of Birth: Relationship to Owner: Male Female SSN/TIN: Email Address: Telephone: Physical Address: Primary Contingent Replacement Information – Required (All information needs to be completed.) Yes No Do you own any existing annuities or life insurance? Yes No Do you intend this purchase to replace or change any existing annuity contract or life insurance policy? (Financial Professional/Agent: Complete a separate New York Definition of Replacement form. Refer to the Annuity Instructions for Completing Regulation 60 Forms if any questions on that Definition of Replacement form are answered Yes.) Company Approximate Transfer Amount Policy/Contract Number Replacement of Annuity/Life $ Annuity Life $ Annuity Life $ Annuity Life |

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| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex2img003.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 3 of 7 2/26 MAY 26 ANF12701NY-LV2ADV Single Purchase Payment – Minimum $25,000. The contract will issue when all expected deposits/transfers are received at our Servicing Office. However, if 45 calendar days after the signed date of your application not all expected deposits/transfers are received, we will automatically issue the contract with the deposits/transfers received if it meets the minimum requirements. Please Indicate: New Deposit $1035 Exchange (Non-Qualified) $ Transfer (Qualified) $ Rollover3 (Qualified) $ Total Expected Amount: $ How many separate deposits/transfers are expected? – If this field is not complete, your request will not be processed. 1 2 3 4 5 Other: For Non-Qualified Contract Indicate Source of Funds (i.e. Brokerage Account, Inheritance, etc.): For Deceased Contract Please Check: For Non-Qualified (Includes Beneficiary IRA) Spousal Continuation – Spouse of the original contract owner is the 100% Primary Beneficiary and will be moving funds into their own new Individual Contract. Death Benefit Contract Value Death Benefit (the Contract Value on the date a death claim is approved by Us) Additional Remarks 3 Important Note Regarding IRA Rollovers. The one-rollover-per-year limitation will be applied on an aggregate basis to all IRAs you own. You cannot make a tax-free IRA-to-IRA rollover if you have made such a rollover involving any of your IRAs in the current tax year. This limitation does not apply to direct trustee-to-trustee transfers. |

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| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex2img004.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 4 of 7 2/26 MAY 26 ANF12701NY-LV2ADV Indexed Accounts4 – Allocation Percentages must add up to 100% (using whole numbers). Minimum allocation to an account is $2,000. PERFORMANCE CAP: 1-Year Indexed Accounts % S&P 500® Cap, 10% Protection % S&P 500® Cap, 15% Protection % S&P 500® Cap, 20% Protection % Russell 2000® Cap, 10% Protection % Capital Strength IndexSM Cap, 10% Protection % Capital Strength IndexSM Cap, 15% Protection % First Trust American Leadership Cap, 10% Protection % First Trust American Leadership Cap, 15% Protection % Nasdaq-100 Cap, 10% Protection PERFORMANCE TRIGGER: 1-Year Indexed Accounts % S&P 500® Performance Trigger, 10% Protection % S&P 500® Performance Trigger, 15% Protection % S&P 500® Performance Trigger, 20% Protection % Nasdaq-100 Performance Trigger, 10% Protection DUAL PERFORMANCE TRIGGER: 1-Year Indexed Accounts % S&P 500® Dual Performance Trigger, 10% Protection % Russell 2000® Dual Performance Trigger, 10% Protection % Capital Strength Index Dual Performance Trigger, 10% Protection % First Trust American Leadership Dual Performance Trigger, 10% Protection DUAL PLUS: 6-Year Indexed Accounts with Performance Cap % S&P 500® Dual10 Plus % S&P 500® Dual15 Plus % Russell 2000® Dual15 Plus % Capital Strength IndexSM Dual15 Plus % First Trust American Leadership Dual15 Plus PERFORMANCE CAP: 6-Year Indexed Accounts % S&P 500® Cap, 10% Protection % S&P 500® Cap, 15% Protection % S&P 500® Cap, 25% Protection % Russell 2000® Cap, 10% Protection % Russell 2000® Cap, 15% Protection % Capital Strength IndexSM Cap, 10% Protection % Capital Strength IndexSM Cap, 15% Protection % Capital Strength IndexSM Cap, 25% Protection % First Trust American Leadership Cap, 10% Protection % First Trust American Leadership Cap, 15% Protection ANNUAL LOCK: 6-Year Indexed Accounts with Performance Cap % Annual Lock S&P 500® Cap, 10% Protection Indexed Account Key Terms Dual Plus: An account that provides the greater of the dual rate or the index return up to the Performance Cap if the index change is up or flat. If the index change is down, the dual rate is added to the index loss, which may provide a positive return. Performance Cap: The most growth (or ceiling) you can earn for an indexed term. For annual lock accounts, it is the maximum percentage you can earn each year of the term. Protection Level: The portion of loss that Lincoln will absorb from any negative index performance. If the negative index performance is in excess of the Protection Level, there is risk of loss of principal to the Contract Owner. Please see the last page for additional disclosures regarding the indices. 4 Applicable Rates are available on LincolnFinancial.com. |

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| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex2img005.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 5 of 7 2/26 MAY 26 ANF12701NY-LV2ADV Declarations and Signatures – Required By signing below, I/we understand and agree that: 1. The application will be attached to and made part of the contract when issued. 2. The information contained in this application is true, complete, and correct to the best of my/our knowledge and belief. 3. The statements made shall form the exclusive basis of any annuity issued. 4. Checks must be made payable to Lincoln Life & Annuity Company of New York, not to the Financial Professional/Agent. The cancelled check is the receipt. 5. Only a Company officer can make, modify, discharge, or waive any of the Company's rights and only in writing. 6. Placing an annuity in a tax qualified retirement plan (for example, an IRA) will result in no additional tax advantage from the annuity. 7. Any annuity issued upon this application shall be considered a contract. The contract issued upon this application shall be subject to the laws of the state of New York. 8. The annuity will become effective on the date of issue. In the event that the initial purchase payment for this application is not acceptable, the Company's liability will be limited to a return of any payment made. 9. I/We understand the calculation of the death benefit. 10. The Indexed Accounts chosen will be applicable on the Contract effective date. I/We understand that I/we can lose money on Indexed Accounts. 11. Any Withdrawal, Advisory Fee Withdrawal, Surrender, annuitization or payment of a Death Benefit from an Indexed Account during a Term will be based on the Interim Value of each Segment, and the Withdrawal will reduce the Crediting Base for each Segment proportionately by the amount that the Withdrawal reduced the Interim Value. 12. The Company reserves the right to limit total Purchase Payments for all the Company Index-Linked Deferred Annuity Contracts, including Contracts with an affiliated Company, for which the Owner, Joint Owner or Annuitant is a measuring life. I/We acknowledge receipt of a current prospectus and verify my/our understanding that all payments and values provided by the contract, when based on investment experience are not guaranteed to a dollar amount. Taxpayer Identification Number and Certification (Substitute Form W-9) Under penalties of perjury, the Owner(s) certifies that: 1. The Social Security Number(s) or Federal Tax Identification Number(s) provided for the Owner(s) is the correct number (or the Owner(s) is waiting for a number to be issued); 2. The Owner(s) is not subject to backup withholding either because (a) the Owner(s) is exempt from backup withholding, or (b) the Owner(s) has not been notified by the Internal Revenue Service (IRS) that the Owner(s) is subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified the Owner(s) that he or she is no longer subject to backup withholding; 3. The Owner(s) is a U.S. citizen or other U.S person; and 4. The Foreign Account Tax Compliance Act (FATCA) code(s) entered on this form (if any) indicating that the Owner(s) is exempt from FATCA reporting is correct. Exemption from FATCA reporting code (if any) . Certification Instructions By checking this box you are crossing out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. |

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| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex2img006.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 6 of 7 2/26 MAY 26 ANF12701NY-LV2ADV Declarations and Signatures – Required – continued The IRS does not require your consent to any provision of this document other than the certifications required to avoid backup withholding. Contract Owner Signature Signed in (City and State) Date Joint Contract Owner, if any, Signature Signed in (City and State) Date Annuitant Signature (if other than Owner) Date Contingent Annuitant, if any, Signature Date Financial Professional/Agent Signature – Required (All information needs to be completed.) Yes No Does the applicant have any existing annuity contracts or life insurance policies? Yes No Will the proposed contract replace or change any existing annuity or life insurance? (Financial Professional/Agent: Complete a separate New York Definition of Replacement form. Refer to the Annuity Instructions for Completing Regulation 60 Forms if any questions on that Definition of Replacement form are answered Yes.) The Financial Professional/Agent hereby certifies he/she witnessed the signature(s) in the Declarations and Signatures section and that all information contained in this application is true to the best of his/her knowledge and belief. The Financial Professional/ Agent also certifies that he/she has used only Company approved sales materials in conjunction with the sale and copies of all sales materials were left with the applicant(s). Any electronically presented sales material will be provided in printed form to the applicant no later than at the time of the contract delivery. I have provided the owner/applicant/joint applicant with all disclosures that I am required to provide under any applicable rule, laws or regulation regarding the sale of this product. Financial Professional/Agent Signature |

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| &nbsp;&nbsp;![GRAPHIC](tm265270d1_ex99-bxex2img007.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 7 of 7 2/26 MAY 26 ANF12701NY-LV2ADV The S&P 500® Price Return Index is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by The Lincoln National Life Insurance Company. Standard & Poor's® , S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by The Lincoln National Life Insurance Company. The Lincoln National Life Insurance Company's products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such products nor do they have any liability for any errors, omissions, or interruptions of the S&P 500® Index. The Russell 2000® Price Return Index (the "Index") is a trademark of Frank Russell Company ("Russell") and has been licensed for use by The Lincoln National Life Insurance Company. Lincoln products are not in any way sponsored, endorsed, sold or promoted by Russell or the London Stock Exchange Group companies ("LSEG") (together the "Licensor Parties") and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the Index (upon which the Lincoln's products are based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with Lincoln's products. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to Lincoln or to its clients. The Index is calculated by Russell or its agent. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein. Nasdaq® and the Capital Strength Net Fee IndexSM are registered trademarks of NASDAQ, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by The Lincoln National Life Insurance Company. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S). The level of the index may reflect the deduction of an annual fee. See prospectus for details. The First Trust American Leadership IndexTM ("FTIS Index") is a product of and owned by FT Indexing Solutions LLC ("FTIS"). FIRST TRUST® and FIRST TRUST AMERICAN LEADERSHIP INDEXTM are trademarks of First Trust Portfolios L.P. (collectively, with FTIS and their respective affiliates, "First Trust"). The foregoing index and trademarks have been licensed for use for certain purposes by Licensee in connection with the Product. The Dow Jones Internet Composite IndexTM ("Dow Index") is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by FTIS and Licensee. S&P® is a trademark of Standard & Poor's Financial Service LLC. DOW JONES® and DOW JONES INTERNET COMPOSITE INDEX are trademarks of Dow Jones Trademark Holdings LLC ("Dow Jones"). The foregoing trademarks have been licensed for use by SPDJI and have been sublicensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and the Product. The Nasdaq U.S. Rising Dividend Achievers IndexTM and Nasdaq Technology Dividend IndexTM are products of Nasdaq, Inc. (which with its affiliates is referred to as the "Nasdaq"). NASDAQ® , NASDAQ U.S. RISING DIVIDEND ACHIEVERS INDEX, and NASDAQ TECHNOLOGY DIVIDEND INDEX are trademarks of Nasdaq. The foregoing indices (collectively, the "Nasdaq Indices") and trademarks have been licensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and Product. The Nasdaq Riskalyze U.S. Large Cap Select Dividend IndexTM ("Riskalyze Index") is a product of Riskalyze, Inc. ("Riskalyze"). RISKALYZE® and NASDAQ RISKALYZE U.S. LARGE CAP SELECT DIVIDEND INDEX are trademarks of Riskalyze. NASDAQ® is a trademark of Nasdaq, Inc. The foregoing index and trademarks have been licensed for use for certain purposes by FTIS and Licensee in connection with the FTIS Index and the Product. The Product is not issued, sponsored, endorsed, sold, recommended, or promoted by First Trust, SPDJI, Dow Jones, Nasdaq, Riskalyze, or their respective affiliates (collectively, the "Companies"). The Companies do not make any representation regarding the advisability of investing in the Product or products based on the FTIS Index, Dow Index, Nasdaq Indices, or Riskalyze Index, do not make any warranties or bear any liability with respect to such products, and do not make any warranties or bear any liability with respect to the Product or another party's index. |

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## Ex-99.B(K)

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| | |
|:---|:---|
| ![](tm265270d1_ex99-bxkimg001.jpg) | Lincoln Financial |

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Law Department

The Lincoln National Life Insurance Company

1301 South Harrison Street<br> Fort Wayne, Indiana 46802

Nadine Rosin

Assistant Vice President and

Senior Counsel

Phone: 860-466-2832

*<u>Nadine.Rosin@LFG.com</u>*

**<u>VIA EDGAR</u>**

April 16, 2026

Securities and Exchange Commission

Office of Insurance Products

Division of Investment Management

100 F Street, N.E.

Washington, D.C. 20549

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| | |
|:---|:---|
| Re: | Opinion Letter<br> Lincoln Life & Annuity Company of New York<br> *Lincoln Level Advantage 2*<sup>®</sup> B-Share<br> *Lincoln Level Advantage* 2<sup>®</sup> Advisory<br> Pre-effective Amendment No. 1<br> <u>File No. 333-283685</u> |

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Commissioners:

I have made such examination of law and have examined such records and documents as I have deemed necessary to render the opinion expressed below

I am of the opinion that upon acceptance by Lincoln Life & Annuity Company of New York ("Lincoln New York"), of contributions from a person pursuant to an annuity contract issued in accordance with the prospectus contained in the registration statement on Form N-4, and upon compliance with the applicable law, such person will have a legally issued interest in his or her individual account and the securities issued will represent binding obligations of Lincoln New York.

I consent to the filing of this Opinion as an exhibit to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4.

Sincerely,

/s/ Nadine Rosin

Nadine Rosin

## Ex-99.B(L)

Exhibit (I)

Consent of Independent Registered Public Accounting Firm

We consent to the references to our firm under the caption "Independent Registered Public Accounting Firm" in the Prospectus and Statement of Additional Information, each dated April 16, 2026, and each included in this Pre-Effective Amendment No. 1 to the Registration Statement (Form N-4, File No. 333-283685) of Lincoln Life & Annuity Company of New York (the "Registration Statement").

We also consent to the use of our report dated March 31, 2026, with respect to the financial statements of The Lincoln Life & Annuity Company of New York for the year ended December 31, 2025, included in this Registration Statement, filed with the Securities and Exchange Commission.

/s/ Ernst & Young LLP

Philadelphia, Pennsylvania

April 16, 2026

## Ex-99.B(O)

***Lincoln Level Advantage* 2**<sup>®</sup> **B-Share** 

**Individual Index-Linked Annuity Contracts** 

**Summary Prospectus for New Investors <br>May 8, 2026**

This summary prospectus summarizes key features of the *Lincoln Level Advantage* 2<sup>®</sup> B-Share Individual Index-Linked Annuity Contracts issued by Lincoln Life & Annuity Company of New York (Lincoln New York or Company).

Before you invest, you should also review the prospectus for the *Lincoln Level Advantage* 2<sup>®</sup> B-Share Individual Index-Linked Annuity Contracts which contains more information about the Contract's features, benefits, and risks. You can find this prospectus and other information about the Contract online at www.lfg.com/VAprospectus. You can also obtain this information at no cost by calling 1-877-737-6872 or by sending an email request to CustServSupportTeam@lfg.com.

**This Contract is a complex investment and involves risks, including potential loss of principal.**

**The availability of Indexed Accounts, Contract benefits, or other Contract features described in this summary prospectus may vary depending on the broker-dealer through which the Contract is sold. See Appendix C – Financial Intermediary Variations in the prospectus for additional information.**

**YOU MAY CANCEL YOUR CONTRACT WITHIN THE FREE LOOK PERIOD WITHOUT PAYING FEES OR PENALTIES.** 

**If you are a new investor in the Contract, you may cancel your Contract within ten days of receiving it without paying fees or penalties although any Contract Adjustments will be applied. This free-look or cancellation period may be longer if you are replacing an existing contract. Upon cancellation, you will receive the greater of a full refund of the amount you paid with your application or your total Contract Value, less any withdrawals. You should review this prospectus and consult with your registered representative for additional information about the specific cancellation terms that may apply.**

You may invest in one or more of the available Indexed Accounts, subject to any limitations described herein. **We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%. The amount of gain credited for each Indexed Segment at the end of an Indexed Term will be limited by the Performance Cap, Performance Trigger Rate or Dual Performance Trigger Rate we declare. We guarantee a minimum declared crediting rate for each Indexed Account.**

The amount of loss from negative Index performance for each Indexed Segment at the end of an Indexed Term is limited by the Protection Level or the Dual Rate for that Segment. **Your Contract Value may not be impacted by any loss up to the applicable Protection Level or Dual Rate that you choose if you do not make withdrawals during the Indexed Term. Under extreme circumstances, you could lose up to 90% of your investment in an Indexed Account with a 10% Protection Level or a 10% Dual Rate, up to 85% of your investment in an Indexed Account with a 15% Protection Level or a 15% Dual Rate, up to 80% of your investment in an Indexed Account with a 20% Protection Level, and up to 75% of your investment in an Indexed Account with a 25% Protection Level. This potential of loss exists for each Indexed Term, and over the life of the Contract which could be much greater. We do not guarantee that the Contract will always offer Indexed Accounts that limit Index losses, in which case you could lose the entire amount of your investment.**

**This Contract is not designed for short-term investing and is not appropriate for the investor who needs ready access to cash. Withdrawals could result in negative Contract Adjustments, taxes and tax penalties. Under extreme conditions a negative Contract Adjustment based on Interim Value could result in a loss of up to 100% of your Contract Value.** 

Our obligations under the Contract, including amounts to be paid to you from the Indexed Accounts are subject to our financial strength and claims paying ability.

**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 registered index-linked annuities, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.

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**Table of Contents** 

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| | |
|:---|:---|
| Item | Page |
| [Special Terms](#xx_d97c0e1f-4986-4982-a5d5-c1857633035b_1tm265270d1_bshreisp) | &nbsp;&nbsp;&nbsp; 3  |
| [Overview of the Contract](#xx_4ced1092-72dd-4655-b29e-8ca1e4a931a4_1tm265270d1_bshreisp) | &nbsp;&nbsp;&nbsp; 5  |
| [Important Information You Should Consider About the](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_1tm265270d1_bshreisp)*[Lincoln Level Advantage](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_1tm265270d1_bshreisp)*[2](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_1tm265270d1_bshreisp)<sup>®</sup> [B-Share Index-linked Annuity Contract](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_1tm265270d1_bshreisp) | &nbsp;&nbsp;&nbsp; 8  |
| [Benefits Available Under the Contract](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_5tm265270d1_bshreisp) | 12  |
| [Buying the Contract](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_6tm265270d1_bshreisp) | 13  |
| [Making Withdrawals: Accessing the Money in Your Contract](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_6tm265270d1_bshreisp) | 13  |
| [Additional Information About Fees](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_7tm265270d1_bshreisp) | 14  |
| &nbsp;&nbsp;&nbsp; [Fee Tables](#xx_2e7ecd1d-952f-4a2d-805d-cbbd990df40f_7tm265270d1_bshreisp) | 14  |
| [Appendix A — Investment Options Available Under The Contract](#xx_630ce91a-1542-4eb1-ba59-e36acec0ba0b_1tm265270d1_bshreisp) | A-1  |

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**Special Terms**

In this initial summary prospectus, the following terms have the indicated meanings:

**Annual Locks**—An Indexed Account with Annual Locks is a multi-year account in which the performance is calculated on each Indexed Anniversary Date, but the performance is not credited to or deducted from the Indexed Segment until the End Date.

**Annuitant**—The person upon whose life the annuity benefit payments are based, and upon whose death a Death Benefit may be paid.

**Annuity Commencement Date**—The Valuation Date when payment of retirement income benefits begins under the Annuity Payout option you select.

**Annuity Payout**—A regularly scheduled payment (under any of the available annuity options) that occurs after the Annuity Commencement Date.

**Beneficiary**—The person you choose to receive any Death Benefit paid if you die before the Annuity Commencement Date.

**Contract**—The index-linked annuity contract you have entered into with Lincoln New York.

**Contract Adjustment**—A positive or negative adjustment to the Contract based on the Interim Value of an Indexed Segment.

**Contractowner** (you, your, owner)—The person who can exercise the rights within the Contract (decides on investment allocations, reallocations, payout option, designates the Beneficiary, etc.). Usually, but not always, the Contractowner is the Annuitant.

**Contract Value** (may be referred to as Account Value in marketing materials)—The sum of the current values of the Indexed Accounts (i.e. Interim Values if between the Start Date and the End Date of an Indexed Term).

**Contract Year**—Each 12-month period starting with the effective date of the Contract and starting with each contract anniversary after that.

**Crediting Method**—The method used in determining the Performance Rate for an Indexed Segment. There are several Crediting Methods including Performance Cap, Performance Trigger Rate, Dual Performance Trigger Rate, and Dual Plus.

**Death Benefit**—Before the Annuity Commencement Date, the amount payable to your designated Beneficiary if the Contractowner dies. As an alternative, the Contractowner may receive a Death Benefit upon the death of the Annuitant prior to the Annuity Commencement Date.

**Dual Performance Trigger Rate**—The rate used, in part, to determine the Performance Rate for an Indexed Segment at the end of the Indexed Term.

**Dual Rate**—The rate used, in part, to determine the Performance Rate for an Indexed Segment of a Dual Plus Indexed Account at the end of the Indexed Term.

**Dual Plus**—A Crediting Method that uses, in part, a Performance Cap and Dual Rate to determine the Performance Rate for an Indexed Segment at the end of the Indexed Term.

**End Date**—The last day of the Indexed Term.

**Good Order**—The actual receipt at our Servicing Office of the requested transaction in writing or by other means we accept, along with all information and supporting legal documentation necessary to complete the transaction. The forms we provide will identify the necessary documentation. We may, in our sole discretion, determine whether any particular transaction request is in Good Order, and we reserve the right to change or waive any Good Order requirements at any time.

**Index—**The market index of which the performance is used to base the return of an Indexed Account.

**Index Value**—The published closing value of an Index on a Valuation Date. If an Index Value is not published for a particular day, we will use the closing Index Value on the next Valuation Date it is published.

**Indexed Account**—An investment option that provides a return based, in part, on the performance of an Index.

**Indexed Anniversary Date**—The same calendar day, each calendar year, as the day you first invested in an Indexed Segment.

**Indexed Crediting Base or Crediting Base**—An amount used in the calculation of the performance return and the Interim Value for an Indexed Segment.

**Indexed Segment or Segment**—The specific Indexed Account option(s) selected by a Contractowner for allocations of the Purchase Payment or reallocation of Contract Value.

**Indexed Term or Term**—The period of time during which Contract Value is invested in a particular Indexed Segment.

**Interim Value**—Your Contract Value for an Indexed Segment during an Indexed Term. The Interim Value is a calculated value and is used in the event that a withdrawal, Death Benefit payment, reallocation, annuitization, or surrender occurs at any time other than the Start Date or End Date of an Indexed Term. The Interim Value is also used when *Secure Lock+*<sup>®</sup> is chosen.

**Lincoln New York** (we, us, our, Company)—Lincoln Life & Annuity Company of New York.

**Performance Cap or Cap**—The highest Performance Rate that can be credited to an Indexed Segment at the end of an Indexed Term for any positive Index performance.

**Performance Rate**—A rate of return for an Indexed Segment based on the performance of an Index over a specified period of time, adjusted for the applicable Protection Method and subject to the Crediting Method, depending on the Indexed Account you choose.

**Performance Trigger Rate**— The rate used to determine the Performance Rate for an Indexed Segment at the end of the Indexed Term if the Index performance is zero or positive.

**Protection Level**—The portion of loss that the Company will absorb from any negative Index performance. If the Index performance is negative by more than the Protection Level, there is a risk of loss of principal and any previously credited amount to

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the Contractowner. The Protection Level is not available on Dual Plus accounts.

**Protection Method**—The method used in protecting from negative Index performance at the end of an Indexed Term, including Protection Levels and Dual Rates.

**Purchase Payment**—The initial investment made by a single premium payment to purchase this Contract.

**Reset Date**—The most recent Valuation Date that an Indexed Segment was reset.

**Reset Rate**—The new Performance Cap if you choose choose to lock the Interim Value of an Indexed Segment before the end of the Indexed Term under *Secure Lock*+<sup>®</sup>.

***Secure Lock*+**<sup>®</sup>—A feature that allows the Interim Value to be locked in on any given Valuation Date, other than an Indexed Anniversary, for an Indexed Segment.

**Segment Ending Value**—The value of an Indexed Segment on the End Date after adjustment for the Performance Rate.

**Start Date**—The Valuation Date on which the Indexed Segment begins.

**Valuation Date**—Each day the New York Stock Exchange (NYSE) is open for trading.

**Valuation Period**—The period starting at the close of trading (normally 4:00 p.m., Eastern Time) on each day that the NYSE is open for trading (Valuation Date) and ending at the close of such trading on the next Valuation Date.

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**Overview of the Contract**

**Purpose of the Contract**

The *Lincoln Level Advantage* 2<sup>®</sup> B-Share Index-Linked Annuity contract is designed to accumulate Contract Value and to provide income over a certain period of time or for life, subject to certain conditions. The Contract can supplement your retirement income by providing a stream of income payments during the payout phase. The Contract offers several Indexed Accounts which provide a rate of return based in part on the performance of an Index you select and a Death Benefit payable to your designated Beneficiaries upon the death of a Contractowner or Annuitant.

This Contract may be appropriate if you have a long-term investment horizon. It is not intended for people who may need to make early or frequent withdrawals. See Surrenders and Withdrawals.

**Phases of the Contract**

Your Contract has two phases: (1) an accumulation (savings) phase, prior to the Annuity Commencement Date; and (2) a payout (income) phase, after the Annuity Commencement Date.

**Accumulation (Savings) Phase.** To help you accumulate assets during the accumulation phase, you can invest your Purchase Payment and earnings in the Indexed Accounts available under the Contract, each of which has its own Index, Indexed Term, Crediting Method, and Protection Method. **The available Indexed Accounts are listed in Appendix A – Investment Options Available Under The Contract.** 

Different Crediting Methods and Protection Methods are available for your Indexed Accounts. We will credit positive, negative, or zero interest at the end of an Indexed Term to amounts allocated to an Indexed Account based, in part, on the performance of the Index. Interest is credited for any gain or deducted for any loss only on the End Date of an Indexed Segment. You could lose a significant portion of your investment if the Index declines in value.

The Protection Method you select determines the type of protection you will have for each Indexed Segment. For Indexed Accounts with Protection Level, the Protection Level is the portion of any negative Index performance that will not impact your Contract Value if you do not make any withdrawals until the End Date of the Indexed Segment. Your Contract Value will not be impacted up to the amount of the Protection Level you elect, and, after that, the Indexed Segment will be impacted for the remaining portion of the loss. For example, if the Index return is -15% and you have a 10% Protection Level, your Contract Value will not be impacted by the first 10% of negative Index performance and we will deduct 5% at the end of the Indexed Term. Any loss will reduce the amount of your investment in the Indexed Segments. The Contract offers Indexed Accounts with Protection Levels that protect you against losses of 10% to 25%.

For Indexed Accounts with a Dual Rate, if the Index performance is negative, your Performance Rate equals the Index performance plus the Dual Rate, which may result in either a negative or positive return. For example, if the Index return is -10% and you have a Dual Rate of 15%, we will credit 5% in interest at the end of the Indexed Term. If the Index return is -20% and you have a Dual Rate of 15%, we will deduct 5% in interest at the end of the Indexed Term. Any loss will reduce the amount of your investment in the Indexed Segments. The Contract offers Indexed Accounts with Dual Rates of 10% or 15%.

**We will always make at least one Indexed Account available under this Contract, but we do not guarantee that the Contract will always offer Indexed Accounts that limit Index losses.**

The Crediting Method you select determines the Performance Rate for an Indexed Segment. Any applicable Crediting Method may limit the positive Index return used in calculating interest on the End Date of an Indexed Segment. Each Indexed Account will have either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i)

a specified Performance Cap, which is the highest Performance Rate that we will credit. For example, if the Index return is 12%, and the Performance Cap is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%;

ii)

a Performance Trigger Rate that provides a specified rate of return if the performance of the Index is zero or positive. For example, if the Index return is 12%, and the Performance Trigger Rate is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%. Alternatively, if the Index return is 1%, and the Performance Trigger Rate is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%;

iii)

a Dual Performance Trigger Rate, which will either provide a specific rate of return if the Index performance is positive, zero or negative within the Protection Level or be added to the Index performance and the Protection Level if the Index performance is negative and beyond the Protection Level. For example, if the Index return is 12%, and the Dual Performance Trigger Rate is 8%, we will credit 8% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 8%; if the Index return is 2% and the Dual Performance Trigger Rate is 8%, we will credit 8% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 8%; or

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iv)

a Dual Rate, which will either provide a minimum rate of return if the Index performance is between zero and the Dual Rate, or will be added to the Index performance if the Index performance is negative. An Index Account with a Dual Rate will also have a Performance Cap, which is the highest Performance Rate that we will credit if the Index performance exceeds the Dual Rate. For example, if the Index return is 60%, and the Performance Cap is 50%, we will credit 50% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 50%; if the Index return is 4% and the Performance Cap is 50% and the Dual Rate is 15%, we will credit 15% in interest on the End Date of the Indexed Segment, your Segment Ending Value will increase by 15%.

In addition, the Reset Rate may limit a positive Index return if you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+<sup>®</sup>. We will reset the Indexed Segment Performance Cap rate, Performance Trigger Rate, or Dual Performance Trigger Rate for the remainder of the Indexed Term following the lock, and these Reset Rates may be lower than the original rates. For example, if the Performance Cap is 4% and you choose to lock in the Interim Value, then on the next Indexed Anniversary Date, we could reset the Performance Cap for the remaining Indexed Terms to 2%. If the Index return is 12%, we will credit 2% in interest on the End Date of the Indexed Segment.

**We guarantee a minimum declared crediting rate for each Indexed Account. We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%.**

**Annuity (Income) Phase.** You can elect to annuitize your Contract and turn your Contract Value into a stream of income payments (sometimes called Annuity Payouts), at which time the accumulation phase of the Contract ends. These payments may continue for a set period of years, for as long as you live, or for the longer of the two.

If you annuitize, your investments will be converted to income payments and you will no longer be able to choose to make withdrawals from your Contract. All benefits during the accumulation phase (including guaranteed minimum Death Benefits) terminate upon annuitization.

**Primary Features and Options of the Contract**

**Accessing your money.** During the accumulation phase, you can surrender the Contract or withdraw part of the Contract Value. If you surrender or take an early withdrawal, you may have to pay a surrender charge, taxes and a tax penalty if you are younger than 59½. No interest will be credited to funds withdrawn or surrendered before the end of an Indexed Term. Additionally, if you surrender the Contract or withdraw from an Indexed Segment prior to its End Date, you will be subject to a Contract Adjustment based on the Interim Value.

***Secure Lock*+**<sup>®</sup>**.** On any Valuation Date, excluding an Indexed Anniversary, one time each Contract Year between the Term Start Date and Term End Date, you may request to lock the Interim Value ("*Secure Lock*+<sup>®</sup>") of an Indexed Segment.

You could lose a significant amount of money due to the Contract Adjustments based on Interim Values if amounts, are removed from an Indexed Segment prior to the Segment End Date. The Interim Value calculated at the end of the Valuation Date will be locked in and once selected, a *Secure Lock*+<sup>®</sup> is irrevocable. If you request a lock-in of the Indexed Segment when the Interim Value is below your Indexed Crediting Base, Protection Methods do not apply and you assume all loss. *Secure Lock*+<sup>®</sup> is not available with all Crediting Methods and Protection Methods or upon the selection of an Annuity Payout option. Withdrawals prior to the Segment End Date may have a significant impact on your Contract Value. See the Contract Adjustments discussion below.

**Tax treatment*.*** Earnings (if any) on your investments are generally tax-deferred. You are taxed only when: (1) you take a withdrawal or surrender; (2) you receive an income payment from the Contract; or (3) upon payment of a Death Benefit.

**Death Benefit.** Your Contract includes a Death Benefit that will be paid upon the death of either the Contractowner(s) or the Annuitant.

**Additional Service.** The Automatic Withdrawal Service allows you to automatically take periodic withdrawals from your Contract, and is available under the Contract for no additional charge.

**Contract Adjustments**

If you make any withdrawals, surrender, or terminate your Contract, reallocate Contract Value from an Indexed Segment, annuitize your Contract or upon payment of a Death Benefit from an Indexed Segment on any date prior to the Segment End Date, your Contract Value in the Indexed Segment will be subject to a Contract Adjustment based on Interim Value. You could lose a significant amount of money due to Contract Adjustments based on Interim Values if amounts are removed from an Indexed Segment prior to the Segment End Date. Your Interim Value may be less than the amount invested and may be less than the amount you would receive had you held the investment in the Indexed Segment until the Segment End Date. The Interim Value will generally be negatively

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affected by increases in the expected volatility of Index prices, interest rate increases, and by poor market performance. All other factors being equal, the Interim Value generally would be lower the earlier a withdrawal or surrender is made in a Term.

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**Important Information You Should Consider About the *Lincoln Level Advantage* 2**<sup>®</sup> **B-Share Index-linked Annuity Contract** 

&nbsp;&nbsp;&nbsp;&nbsp;**FEES, EXPENSES, AND ADJUSTMENTS** **Location in** **Prospectus** 

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&nbsp;&nbsp;&nbsp;&nbsp;**RISKS** **Location in** **Prospectus** 

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&nbsp;&nbsp;&nbsp;&nbsp;**RISKS** **Location in** **Prospectus** 

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&nbsp;&nbsp;&nbsp;&nbsp;**RISKS** **Location in** **Prospectus** 

&nbsp;&nbsp;&nbsp;&nbsp;**RESTRICTIONS** **Location in** **Prospectus** 

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&nbsp;&nbsp;&nbsp;&nbsp;**RESTRICTIONS** **Location in** **Prospectus** 

&nbsp;&nbsp;&nbsp;&nbsp;**TAXES** **Location in** **Prospectus** 

&nbsp;&nbsp;&nbsp;&nbsp;**CONFLICTS OF INTEREST** **Location in** **Prospectus** 

**Benefits Available Under the Contract**

**The following tables summarize information about the benefits available under the Contract.** A detailed description of each benefit is available in the prospectus.

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| | | | |
|:---|:---|:---|:---|
| **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** |
| **Name of Benefit** | **Purpose** | **Maximum Fee** | &nbsp;&nbsp; **Brief Description of Restrictions /** <br> **Limitations**<br>|
| **Account Value Death** <br> **Benefit**<br>| &nbsp;&nbsp; Provides a Death Benefit equal to the <br> Contract Value.<br>| None | &nbsp;&nbsp;&nbsp;&nbsp; ●Poor investment performance could <br> significantly reduce the benefit.<br>●Withdrawals could significantly reduce <br> the benefit.<br>|

---

------

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| | | | |
|:---|:---|:---|:---|
| **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** |
| **Name of Benefit** | **Purpose** | **Maximum Fee** | &nbsp;&nbsp; **Brief Description of Restrictions /** <br> **Limitations**<br>|
| **Automatic Withdrawal** <br> **Service**<br>| &nbsp;&nbsp; Allows you to take periodic withdrawals <br> from your Contract automatically.<br>| None | &nbsp;&nbsp;&nbsp;&nbsp; ●Withdrawals under AWS are subject to <br> applicable surrender charges. <br>●Withdrawals from Indexed Accounts will <br> be processed at a Segment's Interim <br> Value as of the Valuation Date the <br> withdrawal is made unless the <br> withdrawal is processed on the End Date <br> of the Indexed Term.<br>●We reserve the right to discontinue this <br> administrative service at any time. <br>|

---

**Buying the Contract**

If you wish to purchase a Contract, you must apply for it through a registered representative authorized by us. The completed application is sent to us and we decide whether to accept or reject it. If the application is accepted, a Contract is prepared and executed by our legally authorized officers. The Contract (and a statement confirming your investments) is then sent to you either directly or through your registered representative. The purchase of multiple contracts with identical Contractowners, Annuitants and Beneficiaries will be allowed only upon Servicing Office approval.

When a completed application and all other information necessary for processing a purchase order is received in Good Order at our Servicing Office at Lincoln Life & Annuity Company of New York, PO Box 2348, Fort Wayne, IN 46801-2348, an initial Purchase Payment will be priced no later than two business days after we receive the order. If you submit your application and/or initial Purchase Payment to your registered representative, we will not begin processing your purchase order until we receive the application and initial Purchase Payment from your registered representative's broker-dealer. While attempting to finish an incomplete application, we may hold the initial Purchase Payment for no more than five business days unless we receive your consent to our retaining the payment until the application is completed. If the incomplete application cannot be completed within those five days and we have not received your consent, you will be informed of the reasons, and the Purchase Payment will be returned immediately. Once the application is complete, we will allocate your initial Purchase Payment within two business days.

**Purchase Payments – Investing in the Contract**

The minimum Purchase Payment is $25,000. **We do not accept additional Purchase Payments after the Contract has been issued to you**. Accordingly, you will be unable to increase your Contract Value or Death Benefit by making subsequent Purchase Payments. If the Purchase Payment submitted does not meet the minimum amount, we will contact you to ask whether additional money will be sent, or whether we should return the Purchase Payment to you. Any funds received after 45 days from the date you signed your application (or submitted an electronic application) will be returned to you.

If we choose to extend that time period, the 45-day rate hold period will expire and the crediting rates currently in effect would apply. Any funds received after your Contract has been issued will be returned to you. You can find the crediting rates currently in effect at www.lfg.com/llarates or by calling us at 1-877-737-6872.

You must obtain our approval for a Purchase Payment totaling $1 million or more. This amount takes into consideration the total Purchase Payments for all existing *Lincoln Level Advantage*<sup>®</sup>, *Lincoln Level Advantage* 2<sup>®</sup> and *Lincoln Level Advantage 2 Income*<sup>SM</sup> contracts for the same Contractowner, joint owner, and/or Annuitant. At the Company's discretion, this amount may consider total Purchase Payments for all annuity contracts issued by the Company (or its affiliates) for the same Contractowner, joint owner, and/or Annuitant.

**Making Withdrawals: Accessing the Money in Your Contract**

**Before the Annuity Commencement Date – During the Accumulation (Savings) Phase**

You can access the money in your Contract by making a withdrawal, which will reduce the value of your Contract (including the amount of the death benefit). You may withdraw all or a portion of the Contract Value (minus applicable charges and other adjustments, discussed below). **However, withdrawing the entire cash value of your Contract will terminate your Contract.**

Before the Annuity Commencement Date, you can completely surrender the Contract or withdraw part of the Contract Value upon your written request on an approved Lincoln distribution request form (available from the Servicing Office), fax, or other electronic means.

------

Withdrawal requests may also be made by telephone or our website, subject to certain restrictions. All surrenders and withdrawals must be made in accordance with the rules discussed in the prospectus. The amount available upon surrender or withdrawal is the Contract Value less any applicable charges, fees, and taxes at the end of the Valuation Period during which the written request for surrender or withdrawal is received in Good Order at the Servicing Office.

If we receive a surrender or withdrawal request in Good Order at our Servicing Office before the close of regular trading on the New York Stock Exchange (normally 4:00 p.m., Eastern Time), we will process the request from the Interim Value computed on that Valuation Date. If we receive a surrender or withdrawal request in Good Order at our Servicing Office at market close, we will process the request using the Interim Value computed on the next Valuation Date.

The minimum amount which can be withdrawn is $300. Unless a request for withdrawal specifies otherwise, withdrawals will be made proportionately in the following order:

1. proportionately from Indexed Segments with a one-year term (if any);

2. proportionately from Indexed Segments with a term greater than one year.

Withdrawals are taken from the Contractowner's own money and may have a significant negative impact on the value of the optional living benefits and on certain Death Benefits offered under your Contract.

There may be surrender charges associated with surrender of a Contract or withdrawal of Contract Value. You may specify whether these charges are deducted from the amount you request to be withdrawn or from the remaining Contract Value. If the charges are deducted from the remaining Contract Value, the amount of the total withdrawal will increase according to the impact of the applicable surrender charge percentage; consequently, the dollar amount of the surrender charge associated with the withdrawal will also increase. In other words, the dollar amount deducted to cover the surrender charge is also subject to a surrender charge.

There are tax consequences for surrenders and withdrawals.

**There are limitations associated with taking money out of the Contract, including the following:** 

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| | |
|:---|:---|
| Limitations on withdrawal amounts | ●The minimum withdrawal amount is $300. |
| Surrender charges and taxes | &nbsp;&nbsp;&nbsp;&nbsp; ●There may be surrender charges and tax implications <br> when you take out money.<br>|
| Negative impact on benefits and guarantees of your <br> Contract<br>| &nbsp;&nbsp;&nbsp;&nbsp; ●A withdrawal may reduce the value of or even terminate <br> certain benefits. <br>|
| Internal Revenue Code or Retirement Plan | &nbsp;&nbsp;&nbsp;&nbsp; ●Depending on the circumstances, the Internal Revenue <br> Code or your retirement plan may restrict your ability <br> to take withdrawals.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**After the Annuity Commencement Date – During the Annuity (Income) Phase**

After the Annuity Commencement Date, you will receive payments under the annuity payment option you select, but generally you may not take any other withdrawals or surrender your Contract. Surrender or withdrawal rights after the Annuity Commencement Date, if any, depend on the Annuity Payout option selected.

**Additional Information About Fees**

**Fee Tables**

**The following tables describe the fees, expenses, and adjustments that you will pay when buying, owning, and surrendering or making withdrawals from an Indexed Account. 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.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender or make withdrawals from an Indexed Account. State premium taxes may also be deducted. Currently there is no premium tax levied for New York residents.** 

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**TRANSACTION EXPENSES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Surrender charge (as a percentage of Purchase Payments surrendered/withdrawn):<sup>1</sup> | 7.00% |

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<sup>1</sup>

The surrender charge percentage is reduced over a 6-year period at the following rates: 7%, 7%, 6%, 5%, 4%, 3%. We may reduce or waive this charge in certain

situations. See Charges and Adjustments – Surrender Charge.

**The next table describes the adjustments, in addition to any transaction expenses, that apply if all or a portion of the Contract Value is removed from an Indexed Account or from the Contract before the expiration of a specified period.** 

**ADJUSTMENTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Contract Adjustment (Interim Value) Maximum Potential Loss** (as a percentage of Contract Value at the start of an <br> Indexed Term)<br>| 100% |

---

<sup>1</sup>

If you make any withdrawals, surrender or terminate your Contract), reallocate Contract Value from an Indexed Segment, annuitize your Contract or upon payment of a Death Benefit from an Indexed Segment on any date prior to the Segment End Date, your Contract Value in the Indexed Segment will be its Interim Value. The Interim Value calculation is designed to represent the fair value of the Indexed Segment on each business day, taking into account the potential gain or loss of the applicable Index at the end of the Indexed Term, including the impacts of the Crediting Method or Protection Method you have chosen. The calculation is also designed to reflect the change in fair value due to economic factors, including, but not limited to, the impact of market rates, volatility, and correlation (if applicable) of the investment instruments supporting the Contract. The Interim Value is based on this calculation and not the actual value of any underlying investments or the current value of any Index. The maximum loss would occur if there is a total distribution for an Indexed Segment at a time when the Index

Value has declined to zero or close to zero.

------

**Appendix A — Investment Options Available Under The Contract**

The following is a list of Indexed Accounts currently available under the Contract. We may change the features of the Indexed Accounts listed below (including the Index and the current limits on Index gains and losses), offer new Indexed Accounts, and terminate existing Indexed Accounts. We will provide you with written notice before making any changes other than changes to the current limits on Index gains. Information about current limits on Index gains is available at www.lfg.com/llarates.

**Note: If amounts are removed from an Indexed Account before the end of its Indexed Term, we will apply a Contract Adjustment based on Interim Value. This may result in significant reduction in your Contract Value that could exceed any protection from Index loss that would be in place if you held the Indexed Segment until the end of the Indexed Term. See Indexed Accounts – Interim Value in the prospectus for additional details.** 

**Benefits availability may vary by state of issue or selling broker-dealer. All variations, if material, will be disclosed in the prospectus.** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index** | **Type of Index** | **Term** <br> **Duration**<br>| **Index Crediting**<br> **Methodology**<br>| **Protection Method and** <br> **Amount of Protection** | **Protection Method and** <br> **Amount of Protection** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup>  | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup>  |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to Point | 15% | Protection Level | 4.5% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 20% | Protection Level | 4.0% | Performance <br> Cap<br>|  | N/A |
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 15% | Protection Level | 4.5% | Performance <br> Cap<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM</sup> <sup>1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 15% | Protection Level | 4.5% | Performance <br> Cap<br>|  | N/A |
| Nasdaq-100 Index<sup>®</sup> <sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 25% | Protection Level | 21.0% | Performance <br> Cap<br>| 3.5% | Performance <br> Cap<br>|
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| Capital Strength Net Fee <br> Index<sup>SM 1,</sup> 2<br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 25% | Protection Level | 21.0% | Performance <br> Cap<br>| 3.5% | Performance <br> Cap<br>|
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index** | **Type of Index** | **Term** <br> **Duration**<br>| **Index Crediting**<br> **Methodology**<br>| **Protection Method and** <br> **Amount of Protection** | **Protection Method and** <br> **Amount of Protection** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup> | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup> |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 15% | Protection Level | 4.5% | Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 20% | Protection Level | 4.0% | Performance <br> Trigger Rate<br>|  | N/A |
| Nasdaq-100 Index<sup>®</sup> <sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Dual Plus | 30.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Annual Lock | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |

---

<sup>1</sup> The Index is a "price return Index," not a "total return Index," and therefore does not reflect dividends paid on the securities composing the Index. This will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

<sup>2</sup> The Index deduct fees and costs when calculating Index performance which will reduce the Index return and cause each Index to underperform a direct investment in the securities composing the Index.

Each Indexed Account's limit on Index losses is guaranteed not to change for as long as that Indexed Account remains available under the Contract. **We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%.** However, we reserve the right to add and remove Indexed Accounts and to offer Indexed Accounts with different Crediting Methods or Protection Methods. As such, the limits on Index loss offered under the Contract may change from one Indexed Term to the next. We do not guarantee that the Contract will always offer Indexed Accounts that limit Index losses. See Indexed Accounts in the prospectus for additional details.

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This initial summary prospectus incorporates by reference the prospectus and Statement of Additional Information (SAI) for the Contract, both dated May 8, 2026, 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**SEC File Nos.:** <br>333-283685 <br>**EDGAR Contract Identifier:** <br>C000257789

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***Lincoln Level Advantage* 2**<sup>®</sup> **Advisory** 

**Individual Index-Linked Annuity Contracts** 

**Summary Prospectus for New Investors <br>May 8, 2026**

This summary prospectus summarizes key features of the *Lincoln Level Advantage* 2<sup>®</sup> Advisory Individual Index-Linked Annuity Contracts issued by Lincoln Life & Annuity Company of New York (Lincoln New York or Company).

Before you invest, you should also review the prospectus for the *Lincoln Level Advantage* 2<sup>®</sup> Advisory Individual Index-Linked Annuity Contracts which contains more information about the Contract's features, benefits, and risks. You can find this prospectus and other information about the Contract online at www.lfg.com/VAprospectus. You can also obtain this information at no cost by calling 1-877-737-6872 or by sending an email request to CustServSupportTeam@lfg.com.

**This Contract is a complex investment and involves risks, including potential loss of principal.**

**The availability of Indexed Accounts, Contract benefits, or other Contract features described in this summary prospectus may vary depending on the broker-dealer through which the Contract is sold. See Appendix C – Financial Intermediary Variations in the prospectus for additional information.**

**YOU MAY CANCEL YOUR CONTRACT WITHIN THE FREE LOOK PERIOD WITHOUT PAYING FEES OR PENALTIES.** 

**If you are a new investor in the Contract, you may cancel your Contract within ten days of receiving it without paying fees or penalties although any Contract Adjustments will be applied. This free-look or cancellation period may be longer if you are replacing an existing contract. Upon cancellation, you will receive the greater of a full refund of the amount you paid with your application or your total Contract Value, less any withdrawals. You should review this prospectus and consult with your financial professional for additional information about the specific cancellation terms that may apply.**

You may invest in one or more of the available Indexed Accounts, subject to any limitations described herein. **We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%. The amount of gain credited for each Indexed Segment at the end of an Indexed Term will be limited by the Performance Cap, Performance Trigger Rate or Dual Performance Trigger Rate we declare. We guarantee a minimum declared crediting rate for each Indexed Account.**

The amount of loss from negative Index performance for each Indexed Segment at the end of an Indexed Term is limited by the Protection Level or the Dual Rate for that Segment. **Your Contract Value may not be impacted by any loss up to the applicable Protection Level or Dual Rate that you choose if you do not make withdrawals during the Indexed Term. Under extreme circumstances, you could lose up to 90% of your investment in an Indexed Account with a 10% Protection Level or a 10% Dual Rate, up to 85% of your investment in an Indexed Account with a 15% Protection Level or a 15% Dual Rate, up to 80% of your investment in an Indexed Account with a 20% Protection Level, and up to 75% of your investment in an Indexed Account with a 25% Protection Level. This potential of loss exists for each Indexed Term, and over the life of the Contract which could be much greater. We do not guarantee that the Contract will always offer Indexed Accounts that limit Index losses, in which case you could lose the entire amount of your investment.**

**This Contract is not designed for short-term investing and is not appropriate for the investor who needs ready access to cash. Withdrawals could result in negative Contract Adjustments, taxes and tax penalties. Under extreme conditions a negative Contract Adjustment based on Interim Value could result in a loss of up to 100% of your Contract Value.** 

Our obligations under the Contract, including amounts to be paid to you from the Indexed Accounts are subject to our financial strength and claims paying ability.

**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 registered index-linked annuities, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.

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**Table of Contents** 

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| | |
|:---|:---|
| Item | Page |
| [Special Terms](#xx_f86612c3-b817-4eef-8994-d7c15383f80b_1tm265270d1_advisp) | &nbsp;&nbsp;&nbsp; 3  |
| [Overview of the Contract](#xx_8ebb76dd-a12c-453f-b65b-46ebaaa306c5_1tm265270d1_advisp) | &nbsp;&nbsp;&nbsp; 5  |
| [Important Information You Should Consider About the](#xx_1a529729-7554-468d-8415-4f555f08e5d6_1tm265270d1_advisp)*[Lincoln Level Advantage](#xx_1a529729-7554-468d-8415-4f555f08e5d6_1tm265270d1_advisp)*[2](#xx_1a529729-7554-468d-8415-4f555f08e5d6_1tm265270d1_advisp)<sup>®</sup> [Advisory Index-linked Annuity Contract](#xx_1a529729-7554-468d-8415-4f555f08e5d6_1tm265270d1_advisp) | &nbsp;&nbsp;&nbsp; 8  |
| [Benefits Available Under the Contract](#xx_1a529729-7554-468d-8415-4f555f08e5d6_5tm265270d1_advisp) | 12  |
| [Buying the Contract](#xx_1a529729-7554-468d-8415-4f555f08e5d6_6tm265270d1_advisp) | 13  |
| [Making Withdrawals: Accessing the Money in Your Contract](#xx_1a529729-7554-468d-8415-4f555f08e5d6_7tm265270d1_advisp) | 14  |
| [Additional Information About Fees](#xx_1a529729-7554-468d-8415-4f555f08e5d6_7tm265270d1_advisp) | 14  |
| &nbsp;&nbsp;&nbsp; [Fee Tables](#xx_1a529729-7554-468d-8415-4f555f08e5d6_7tm265270d1_advisp) | 14  |
| [Appendix A — Investment Options Available Under The Contract](#xx_6a0c8b1d-c814-434e-8776-e38ccc541360_1tm265270d1_advisp) | A-1  |

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**Special Terms**

In this initial summary prospectus, the following terms have the indicated meanings:

**Annual Locks**—An Indexed Account with Annual Locks is a multi-year account in which the performance is calculated on each Indexed Anniversary Date, but the performance is not credited to or deducted from the Indexed Segment until the End Date.

**Annuitant**—The person upon whose life the annuity benefit payments are based, and upon whose death a Death Benefit may be paid.

**Annuity Commencement Date**—The Valuation Date when payment of retirement income benefits begins under the Annuity Payout option you select.

**Annuity Payout**—A regularly scheduled payment (under any of the available annuity options) that occurs after the Annuity Commencement Date.

**Beneficiary**—The person you choose to receive any Death Benefit paid if you die before the Annuity Commencement Date.

**Contract**—The index-linked annuity contract you have entered into with Lincoln New York.

**Contract Adjustment**—A positive or negative adjustment to the Contract based on the Interim Value of an Indexed Segment.

**Contractowner** (you, your, owner)—The person who can exercise the rights within the Contract (decides on investment allocations, reallocations, payout option, designates the Beneficiary, etc.). Usually, but not always, the Contractowner is the Annuitant.

**Contract Value** (may be referred to as Account Value in marketing materials)—The sum of the current values of the Indexed Accounts (i.e. Interim Values if between the Start Date and the End Date of an Indexed Term).

**Contract Year**—Each 12-month period starting with the effective date of the Contract and starting with each contract anniversary after that.

**Crediting Method**—The method used in determining the Performance Rate for an Indexed Segment. There are several Crediting Methods including Performance Cap, Performance Trigger Rate, Dual Performance Trigger Rate, and Dual Plus.

**Death Benefit**—Before the Annuity Commencement Date, the amount payable to your designated Beneficiary if the Contractowner dies. As an alternative, the Contractowner may receive a Death Benefit upon the death of the Annuitant prior to the Annuity Commencement Date.

**Dual Performance Trigger Rate**—The rate used, in part, to determine the Performance Rate for an Indexed Segment at the end of the Indexed Term.

**Dual Rate**—The rate used, in part, to determine the Performance Rate for an Indexed Segment of a Dual Plus Indexed Account at the end of the Indexed Term.

**Dual Plus**—A Crediting Method that uses, in part, a Performance Cap and Dual Rate to determine the Performance Rate for an Indexed Segment at the end of the Indexed Term.

**End Date**—The last day of the Indexed Term.

**Fee-Based Financial Plan**—A wrap account, managed account or other investment program whereby an investment firm/professional offers asset allocation and/or investment advice for a fee. Such programs can be offered by broker-dealers, banks and registered investment advisers, trust companies and other firms. Under this arrangement, the Contractowner pays the investment firm/professional directly for services. Deductions made for advisory fees may impact your Contract Value, and may reduce the benefits under your Contract.

**Good Order**—The actual receipt at our Servicing Office of the requested transaction in writing or by other means we accept, along with all information and supporting legal documentation necessary to complete the transaction. The forms we provide will identify the necessary documentation. We may, in our sole discretion, determine whether any particular transaction request is in Good Order, and we reserve the right to change or waive any Good Order requirements at any time.

**Index—**The market index of which the performance is used to base the return of an Indexed Account.

**Index Value**—The published closing value of an Index on a Valuation Date. If an Index Value is not published for a particular day, we will use the closing Index Value on the next Valuation Date it is published.

**Indexed Account**—An investment option that provides a return based, in part, on the performance of an Index.

**Indexed Anniversary Date**—The same calendar day, each calendar year, as the day you first invested in an Indexed Segment.

**Indexed Crediting Base or Crediting Base**—An amount used in the calculation of the performance return and the Interim Value for an Indexed Segment.

**Indexed Segment or Segment**—The specific Indexed Account option(s) selected by a Contractowner for allocations of the Purchase Payment or reallocation of Contract Value.

**Indexed Term or Term**—The period of time during which Contract Value is invested in a particular Indexed Segment.

**Interim Value**—Your Contract Value for an Indexed Segment during an Indexed Term. The Interim Value is a calculated value and is used in the event that a withdrawal, Death Benefit payment, reallocation, annuitization, or surrender occurs at any time other than the Start Date or End Date of an Indexed Term. The Interim Value is also used when *Secure Lock+*<sup>®</sup> is chosen.

**Lincoln New York** (we, us, our, Company)—Lincoln Life & Annuity Company of New York.

**Performance Cap or Cap**—The highest Performance Rate that can be credited to an Indexed Segment at the end of an Indexed Term for any positive Index performance.

**Performance Rate**—A rate of return for an Indexed Segment based on the performance of an Index over a specified period of time, adjusted for the applicable Protection Method and subject to the Crediting Method, depending on the Indexed Account you choose.

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**Performance Trigger Rate**— The rate used to determine the Performance Rate for an Indexed Segment at the end of the Indexed Term if the Index performance is zero or positive.

**Protection Level**—The portion of loss that the Company will absorb from any negative Index performance. If the Index performance is negative by more than the Protection Level, there is a risk of loss of principal and any previously credited amount to the Contractowner. The Protection Level is not available on Dual Plus accounts.

**Protection Method**—The method used in protecting from negative Index performance at the end of an Indexed Term, including Protection Levels and Dual Rates.

**Purchase Payment**—The initial investment made by a single premium payment to purchase this Contract.

**Reset Date**—The most recent Valuation Date that an Indexed Segment was reset.

**Reset Rate**—The new Performance Cap if you choose choose to lock the Interim Value of an Indexed Segment before the end of the Indexed Term under *Secure Lock*+<sup>®</sup>.

***Secure Lock*+**<sup>®</sup>—A feature that allows the Interim Value to be locked in on any given Valuation Date, other than an Indexed Anniversary, for an Indexed Segment.

**Segment Ending Value**—The value of an Indexed Segment on the End Date after adjustment for the Performance Rate.

**Start Date**—The Valuation Date on which the Indexed Segment begins.

**Valuation Date**—Each day the New York Stock Exchange (NYSE) is open for trading.

**Valuation Period**—The period starting at the close of trading (normally 4:00 p.m., Eastern Time) on each day that the NYSE is open for trading (Valuation Date) and ending at the close of such trading on the next Valuation Date.

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**Overview of the Contract**

**Purpose of the Contract**

The *Lincoln Level Advantage* 2<sup>®</sup> Advisory Index-Linked Annuity contract is designed to accumulate Contract Value and to provide income over a certain period of time or for life, subject to certain conditions. The Contract can supplement your retirement income by providing a stream of income payments during the payout phase. The Contract offers several Indexed Accounts which provide a rate of return based in part on the performance of an Index you select and a Death Benefit payable to your designated Beneficiaries upon the death of a Contractowner or Annuitant.

This Contract is issued as part of a Fee-Based Financial Plan which is described in more detail in the Benefits Available Under The Contract – Additional Services section below.

This Contract may be appropriate if you have a long-term investment horizon. It is not intended for people who may need to make early or frequent withdrawals. See Surrenders and Withdrawals.

**Phases of the Contract**

Your Contract has two phases: (1) an accumulation (savings) phase, prior to the Annuity Commencement Date; and (2) a payout (income) phase, after the Annuity Commencement Date.

**Accumulation (Savings) Phase.** To help you accumulate assets during the accumulation phase, you can invest your Purchase Payment and earnings in the Indexed Accounts available under the Contract, each of which has its own Index, Indexed Term, Crediting Method, and Protection Method. **The available Indexed Accounts are listed in Appendix A – Investment Options Available Under The Contract.** 

Different Crediting Methods and Protection Methods are available for your Indexed Accounts. We will credit positive, negative, or zero interest at the end of an Indexed Term to amounts allocated to an Indexed Account based, in part, on the performance of the Index. Interest is credited for any gain or deducted for any loss only on the End Date of an Indexed Segment. You could lose a significant portion of your investment if the Index declines in value.

The Protection Method you select determines the type of protection you will have for each Indexed Segment. For Indexed Accounts with Protection Level, the Protection Level is the portion of any negative Index performance that will not impact your Contract Value if you do not make any withdrawals until the End Date of the Indexed Segment. Your Contract Value will not be impacted up to the amount of the Protection Level you elect, and, after that, the Indexed Segment will be impacted for the remaining portion of the loss. For example, if the Index return is -15% and you have a 10% Protection Level, your Contract Value will not be impacted by the first 10% of negative Index performance and we will deduct 5% at the end of the Indexed Term. Any loss will reduce the amount of your investment in the Indexed Segments. The Contract offers Indexed Accounts with Protection Levels that protect you against losses of 10% to 25%.

For Indexed Accounts with a Dual Rate, if the Index performance is negative, your Performance Rate equals the Index performance plus the Dual Rate, which may result in either a negative or positive return. For example, if the Index return is -10% and you have a Dual Rate of 15%, we will credit 5% in interest at the end of the Indexed Term. If the Index return is -20% and you have a Dual Rate of 15%, we will deduct 5% in interest at the end of the Indexed Term. Any loss will reduce the amount of your investment in the Indexed Segments. The Contract offers Indexed Accounts with Dual Rates of 10% or 15%.

**We will always make at least one Indexed Account available under this Contract, but we do not guarantee that the Contract will always offer Indexed Accounts that limit Index losses.**

The Crediting Method you select determines the Performance Rate for an Indexed Segment. Any applicable Crediting Method may limit the positive Index return used in calculating interest on the End Date of an Indexed Segment. Each Indexed Account will have either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i)

a specified Performance Cap, which is the highest Performance Rate that we will credit. For example, if the Index return is 12%, and the Performance Cap is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%;

ii)

a Performance Trigger Rate that provides a specified rate of return if the performance of the Index is zero or positive. For example, if the Index return is 12%, and the Performance Trigger Rate is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%. Alternatively, if the Index return is 1%, and the Performance Trigger Rate is 4%, we will credit 4% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 4%;

iii)

a Dual Performance Trigger Rate, which will either provide a specific rate of return if the Index performance is positive, zero

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or negative within the Protection Level or be added to the Index performance and the Protection Level if the Index performance is negative and beyond the Protection Level. For example, if the Index return is 12%, and the Dual Performance Trigger Rate is 8%, we will credit 8% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 8%; if the Index return is 2% and the Dual Performance Trigger Rate is 8%, we will credit 8% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 8%; or

iv)

a Dual Rate, which will either provide a minimum rate of return if the Index performance is between zero and the Dual Rate, or will be added to the Index performance if the Index performance is negative. An Index Account with a Dual Rate will also have a Performance Cap, which is the highest Performance Rate that we will credit if the Index performance exceeds the Dual Rate. For example, if the Index return is 60%, and the Performance Cap is 50%, we will credit 50% in interest on the End Date of the Indexed Segment, meaning your Segment Ending Value will increase by 50%; if the Index return is 4% and the Performance Cap is 50% and the Dual Rate is 15%, we will credit 15% in interest on the End Date of the Indexed Segment, your Segment Ending Value will increase by 15%.

In addition, the Reset Rate may limit a positive Index return if you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+<sup>®</sup>. We will reset the Indexed Segment Performance Cap rate, Performance Trigger Rate, or Dual Performance Trigger Rate for the remainder of the Indexed Term following the lock, and these Reset Rates may be lower than the original rates. For example, if the Performance Cap is 4% and you choose to lock in the Interim Value, then on the next Indexed Anniversary Date, we could reset the Performance Cap for the remaining Indexed Terms to 2%. If the Index return is 12%, we will credit 2% in interest on the End Date of the Indexed Segment.

**We guarantee a minimum declared crediting rate for each Indexed Account. We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%.**

**Annuity (Income) Phase.** You can elect to annuitize your Contract and turn your Contract Value into a stream of income payments (sometimes called Annuity Payouts), at which time the accumulation phase of the Contract ends. These payments may continue for a set period of years, for as long as you live, or for the longer of the two.

If you annuitize, your investments will be converted to income payments and you will no longer be able to choose to make withdrawals from your Contract. All benefits during the accumulation phase (including guaranteed minimum Death Benefits) terminate upon annuitization.

**Primary Features and Options of the Contract**

**Accessing your money.** During the accumulation phase, you can surrender the Contract or withdraw part of the Contract Value. If you surrender or take an early withdrawal, including the deduction of advisory fees, you may have to pay taxes and a tax penalty if you are younger than 59½. No interest will be credited to funds withdrawn or surrendered before the end of an Indexed Term. Additionally, if you surrender the Contract or withdraw from an Indexed Segment prior to its End Date, you will be subject to a Contract Adjustment based on the Interim Value.

***Secure Lock*+**<sup>®</sup>**.** On any Valuation Date, excluding an Indexed Anniversary, one time each Contract Year between the Term Start Date and Term End Date, you may request to lock the Interim Value ("*Secure Lock*+<sup>®</sup>") of an Indexed Segment.

You could lose a significant amount of money due to the Contract Adjustments based on Interim Values if amounts, are removed from an Indexed Segment prior to the Segment End Date. The Interim Value calculated at the end of the Valuation Date will be locked in and once selected, a *Secure Lock*+<sup>®</sup> is irrevocable. If you request a lock-in of the Indexed Segment when the Interim Value is below your Indexed Crediting Base, Protection Methods do not apply and you assume all loss. *Secure Lock*+<sup>®</sup> is not available with all Crediting Methods and Protection Methods or upon the selection of an Annuity Payout option. Withdrawals prior to the Segment End Date may have a significant impact on your Contract Value. See the Contract Adjustments discussion below.

**Tax treatment*.*** Earnings (if any) on your investments are generally tax-deferred. You are taxed only when: (1) you take a withdrawal or surrender; (2) you receive an income payment from the Contract; or (3) upon payment of a Death Benefit.

**Death Benefit.** Your Contract includes a Death Benefit that will be paid upon the death of either the Contractowner(s) or the Annuitant.

**Additional Service.** The Automatic Withdrawal Service allows you to automatically take periodic withdrawals from your Contract, and is available under the Contract for no additional charge.

**Fees Associated with Fee-Based Financial Plans.** You may provide authorization to have your advisory fees paid to your financial professional's investment firm from your Contract Value. Advisory fee withdrawals may not be treated as a distribution for federal tax purposes under certain conditions. Certain firms may not allow withdrawals to pay advisory fees from your Contract Value. These

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payments will be treated as withdrawals from your Contract Value and may result in a significant reduction in your Death Benefit. An Advisory fee withdrawal from the Contract will always reduce the Contract Value and Contract Value portion of the elected Death Benefit on a dollar-for-dollar basis. Over time, withdrawals taken for the payment of advisory fees could significantly reduce your Contract Value. Please discuss the impact of deducting advisory fees from your Contract Value prior to making any elections with your financial professional prior to making any election.

Additionally, if you elect to pay a third-party advisory fee out of your Contract Value, this deduction may result in a negative Contract Adjustment, reduce your Death Benefit, and may be subject to federal and state income taxes and a 10% federal penalty tax. See Federal Tax Matters – Payment of Investment Advisory Fees.

**Contract Adjustments**

If you make any withdrawals, including the deduction of advisory fees, or terminate your Contract, reallocate Contract Value from an Indexed Segment, annuitize your Contract or upon payment of a Death Benefit from an Indexed Segment on any date prior to the Segment End Date, your Contract Value in the Indexed Segment will be subject to a Contract Adjustment based on Interim Value. You could lose a significant amount of money due to Contract Adjustments based on Interim Values if amounts are removed from an Indexed Segment prior to the Segment End Date. Your Interim Value may be less than the amount invested and may be less than the amount you would receive had you held the investment in the Indexed Segment until the Segment End Date. The Interim Value will generally be negatively affected by increases in the expected volatility of Index prices, interest rate increases, and by poor market performance. All other factors being equal, the Interim Value generally would be lower the earlier a withdrawal or surrender is made in a Term.

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**Important Information You Should Consider About the *Lincoln Level Advantage* 2**<sup>®</sup> **Advisory Index-linked Annuity Contract** 

&nbsp;&nbsp;&nbsp;&nbsp;**FEES, EXPENSES, AND ADJUSTMENTS** **Location in** **Prospectus** 

&nbsp;&nbsp;&nbsp;&nbsp;**RISKS** **Location in** **Prospectus** 

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&nbsp;&nbsp;&nbsp;&nbsp;**RISKS** **Location in** **Prospectus** 

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&nbsp;&nbsp;&nbsp;&nbsp;**RISKS** **Location in** **Prospectus** 

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&nbsp;&nbsp;&nbsp;&nbsp;**RISKS** **Location in** **Prospectus** 

&nbsp;&nbsp;&nbsp;&nbsp;**RESTRICTIONS** **Location in** **Prospectus** 

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&nbsp;&nbsp;&nbsp;&nbsp;**RESTRICTIONS** **Location in** **Prospectus** 

&nbsp;&nbsp;&nbsp;&nbsp;**TAXES** **Location in** **Prospectus** 

&nbsp;&nbsp;&nbsp;&nbsp;**CONFLICTS OF INTEREST** **Location in** **Prospectus** 

**Benefits Available Under the Contract**

**The following tables summarize information about the benefits available under the Contract.** A detailed description of each benefit is available in the prospectus.

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| | | | |
|:---|:---|:---|:---|
| **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** |
| **Name of Benefit** | **Purpose** | **Maximum Fee** | &nbsp;&nbsp; **Brief Description of Restrictions /** <br> **Limitations**<br>|
| **Account Value Death** <br> **Benefit**<br>| &nbsp;&nbsp; Provides a Death Benefit equal to the <br> Contract Value.<br>| None | &nbsp;&nbsp;&nbsp;&nbsp; ●Poor investment performance could <br> significantly reduce the benefit.<br>●Withdrawals (including the deduction of <br> advisory fees) could significantly reduce <br> the benefit.<br>|

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| | | | |
|:---|:---|:---|:---|
| **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** |
| **Name of Benefit** | **Purpose** | **Maximum Fee** | &nbsp;&nbsp; **Brief Description of Restrictions /** <br> **Limitations**<br>|
| **Automatic Withdrawal** <br> **Service**<br>| &nbsp;&nbsp; Allows you to take periodic withdrawals <br> from your Contract automatically.<br>| None | &nbsp;&nbsp;&nbsp;&nbsp; ●Withdrawals from Indexed Accounts will <br> be processed at a Segment's Interim <br> Value as of the Valuation Date the <br> withdrawal is made unless the <br> withdrawal is processed on the End Date <br> of the Indexed Term.<br>●The deduction of advisory fees will <br> impact your Contract Value. <br>●We reserve the right to discontinue this <br> administrative service at any time. <br>|

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**Buying the Contract**

This Contract is issued as part of a Fee-Based Financial Plan. A Fee-Based Financial Plan generally refers to a wrap account, managed account or other investment program whereby an investment firm/professional offers asset allocation and/or investment advice for a fee. This fee is in addition to contract fees and expenses. Such programs can be offered by broker-dealers, banks and registered investment advisers, trust companies and other firms. Under this arrangement, the Contractowner pays the investment firm/professional directly for services. You may be able to pay this fee by taking advisory fee withdrawals from your Contract Value. If you elect to pay third-party advisory fees out of your Contract Value, each deduction will be treated as a withdrawal and will reduce your Death Benefit. In addition, each deduction will be treated as an early withdrawal and may be subject to a negative Contract Adjustment and may be subject to federal and state income taxes and a 10% federal penalty tax. See Federal Tax Matters – Payment of Investment Advisory Fees.

If you wish to purchase a Contract, you must apply for it through a financial professional authorized by us. The completed application is sent to us and we decide whether to accept or reject it. If the application is accepted, a Contract is prepared and executed by our legally authorized officers. The Contract (and a statement confirming your investments) is then sent to you either directly or through your financial professional. The purchase of multiple contracts with identical Contractowners, Annuitants and Beneficiaries will be allowed only upon Servicing Office approval.

When a completed application and all other information necessary for processing a purchase order is received in Good Order at our Servicing Office at Lincoln Life & Annuity Company of New York, PO Box 2348, Fort Wayne, IN 46801-2348, an initial Purchase Payment will be priced no later than two business days after we receive the order. If you submit your application and/or initial Purchase Payment to your financial professional, we will not begin processing your purchase order until we receive the application and initial Purchase Payment from your financial professional's broker-dealer. While attempting to finish an incomplete application, we may hold the initial Purchase Payment for no more than five business days unless we receive your consent to our retaining the payment until the application is completed. If the incomplete application cannot be completed within those five days and we have not received your consent, you will be informed of the reasons, and the Purchase Payment will be returned immediately. Once the application is complete, we will allocate your initial Purchase Payment within two business days.

**Purchase Payments – Investing in the Contract**

The minimum Purchase Payment is $25,000. **We do not accept additional Purchase Payments after the Contract has been issued to you**. Accordingly, you will be unable to increase your Contract Value or Death Benefit by making subsequent Purchase Payments. If the Purchase Payment submitted does not meet the minimum amount, we will contact you to ask whether additional money will be sent, or whether we should return the Purchase Payment to you. Any funds received after 45 days from the date you signed your application (or submitted an electronic application) will be returned to you.

If we choose to extend that time period, the 45-day rate hold period will expire and the crediting rates currently in effect would apply. Any funds received after your Contract has been issued will be returned to you. You can find the crediting rates currently in effect at www.lfg.com/llarates or by calling us at 1-877-737-6872.

You must obtain our approval for a Purchase Payment totaling $1 million or more. This amount takes into consideration the total Purchase Payments for all existing *Lincoln Level Advantage*<sup>®</sup>, *Lincoln Level Advantage* 2<sup>®</sup> and *Lincoln Level Advantage 2 Income*<sup>SM</sup> contracts for the same Contractowner, joint owner, and/or Annuitant. At the Company's discretion, this amount may consider total Purchase Payments for all annuity contracts issued by the Company (or its affiliates) for the same Contractowner, joint owner, and/or Annuitant.

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**Making Withdrawals: Accessing the Money in Your Contract**

**Before the Annuity Commencement Date – During the Accumulation (Savings) Phase**

You can access the money in your Contract by making a withdrawal, which will reduce the value of your Contract (including the amount of the death benefit). You may withdraw all or a portion of the Contract Value (minus applicable charges and other adjustments, discussed below). **However, withdrawing the entire cash value of your Contract will terminate your Contract.**

Before the Annuity Commencement Date, you can completely surrender the Contract or withdraw part of the Contract Value upon your written request on an approved Lincoln distribution request form (available from the Servicing Office), fax, or other electronic means. Withdrawal requests may also be made by telephone or our website, subject to certain restrictions. All surrenders and withdrawals must be made in accordance with the rules discussed in the prospectus. The amount available upon surrender or withdrawal is the Contract Value less any applicable charges, fees, and taxes at the end of the Valuation Period during which the written request for surrender or withdrawal is received in Good Order at the Servicing Office.

If we receive a surrender or withdrawal request in Good Order at our Servicing Office before the close of regular trading on the New York Stock Exchange (normally 4:00 p.m., Eastern Time), we will process the request from the Interim Value computed on that Valuation Date. If we receive a surrender or withdrawal request in Good Order at our Servicing Office at market close, we will process the request using the Interim Value computed on the next Valuation Date.

The minimum amount which can be withdrawn is $300. Unless a request for withdrawal specifies otherwise, withdrawals will be made proportionately in the following order:

1. proportionately from Indexed Segments with a one-year term (if any);

2. proportionately from Indexed Segments with a term greater than one year.

Withdrawals are taken from the Contractowner's own money and may have a significant negative impact on the value of the optional living benefits and on certain Death Benefits offered under your Contract.

There are tax consequences for surrenders and withdrawals.

**There are limitations associated with taking money out of the Contract, including the following:** 

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| | |
|:---|:---|
| Limitations on withdrawal amounts | ●The minimum withdrawal amount is $300. |
| Negative impact on benefits and guarantees of your <br> Contract<br>| &nbsp;&nbsp;&nbsp;&nbsp; ●A withdrawal may reduce the value of or even terminate <br> certain benefits. <br>|
| Internal Revenue Code or Retirement Plan | &nbsp;&nbsp;&nbsp;&nbsp; ●Depending on the circumstances, the Internal Revenue <br> Code or your retirement plan may restrict your ability <br> to take withdrawals.<br>|

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**After the Annuity Commencement Date – During the Annuity (Income) Phase**

After the Annuity Commencement Date, you will receive payments under the annuity payment option you select, but generally you may not take any other withdrawals or surrender your Contract. Surrender or withdrawal rights after the Annuity Commencement Date, if any, depend on the Annuity Payout option selected.

**Additional Information About Fees**

**Fee Tables**

**The following tables describe the fees, expenses, and adjustments that you will pay when buying, owning, and surrendering or making withdrawals from an Indexed Account. 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. If such charges were reflected, the ongoing fees and expenses would be higher.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender or make withdrawals from an Indexed Account. State premium taxes may also be deducted. Currently there is no premium tax levied for New York residents.** 

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**TRANSACTION EXPENSES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

There are no sales charges, deferred sales charges, or surrender charges associated with this Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**The next table describes the adjustments, in addition to any transaction expenses, that apply if all or a portion of the Contract Value is removed from an Indexed Account or from the Contract before the expiration of a specified period.** 

**ADJUSTMENTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Contract Adjustment (Interim Value) Maximum Potential Loss** (as a percentage of Contract Value at the start of an <br> Indexed Term)<br>| 100% |

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<sup>1</sup>

If you make any withdrawals (including advisory fees), surrender or terminate your Contract, reallocate Contract Value from an Indexed Segment, annuitize your Contract or upon payment of a Death Benefit from an Indexed Segment on any date prior to the Segment End Date, your Contract Value in the Indexed Segment will be its Interim Value. The Interim Value calculation is designed to represent the fair value of the Indexed Segment on each business day, taking into account the potential gain or loss of the applicable Index at the end of the Indexed Term, including the impacts of the Crediting Method or Protection Method you have chosen. The calculation is also designed to reflect the change in fair value due to economic factors, including, but not limited to, the impact of market rates, volatility, and correlation (if applicable) of the investment instruments supporting the Contract. The Interim Value is based on this calculation and not the actual value of any underlying investments or the current value of any Index. The maximum loss would occur if there is a total distribution for an Indexed Segment at a

time when the Index Value has declined to zero or close to zero.

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**Appendix A — Investment Options Available Under The Contract**

The following is a list of Indexed Accounts currently available under the Contract. We may change the features of the Indexed Accounts listed below (including the Index and the current limits on Index gains and losses), offer new Indexed Accounts, and terminate existing Indexed Accounts. We will provide you with written notice before making any changes other than changes to the current limits on Index gains. Information about current limits on Index gains is available at www.lfg.com/llarates.

**Note: If amounts are removed from an Indexed Account before the end of its Indexed Term, we will apply a Contract Adjustment based on Interim Value. This may result in significant reduction in your Contract Value that could exceed any protection from Index loss that would be in place if you held the Indexed Segment until the end of the Indexed Term. See Indexed Accounts – Interim Value in the prospectus for additional details.** 

**Benefits availability may vary by state of issue or selling broker-dealer. All variations, if material, will be disclosed in the prospectus.** 

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index** | **Type of Index** | **Term** <br> **Duration**<br>| **Index Crediting**<br> **Methodology**<br>| **Protection Method and** <br> **Amount of Protection** | **Protection Method and** <br> **Amount of Protection** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup>  | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup>  |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to Point | 15% | Protection Level | 4.5% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 20% | Protection Level | 4.0% | Performance <br> Cap<br>|  | N/A |
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 15% | Protection Level | 4.5% | Performance <br> Cap<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM</sup> <sup>1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 15% | Protection Level | 4.5% | Performance <br> Cap<br>|  | N/A |
| Nasdaq-100 Index<sup>®</sup> <sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 25% | Protection Level | 21.0% | Performance <br> Cap<br>| 3.5% | Performance <br> Cap<br>|
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| Capital Strength Net Fee <br> Index<sup>SM 1,</sup> 2<br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 25% | Protection Level | 21.0% | Performance <br> Cap<br>| 3.5% | Performance <br> Cap<br>|
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Protection Level | 30.0% | Performance <br> Cap<br>| 5.0% | Performance <br> Cap<br>|

---

------

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index** | **Type of Index** | **Term** <br> **Duration**<br>| **Index Crediting**<br> **Methodology**<br>| **Protection Method and** <br> **Amount of Protection** | **Protection Method and** <br> **Amount of Protection** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Declared Crediting** <br> **Method Rate** | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup> | **Guaranteed Minimum** <br> **Reset Rate Under** <br> ***Secure Lock*+**<sup>®</sup> |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Protection Level | 27.0% | Performance <br> Cap<br>| 4.5% | Performance <br> Cap<br>|
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 15% | Protection Level | 4.5% | Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 20% | Protection Level | 4.0% | Performance <br> Trigger Rate<br>|  | N/A |
| Nasdaq-100 Index<sup>®</sup> <sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 1-Year | Point-to-Point | 10% | Protection Level | 5.0% | Dual <br> Performance <br> Trigger Rate<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 10% | Dual Plus | 30.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| Russell 2000<sup>®</sup> Price Return <br> Index<sup>1</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| Capital Strength Net Fee <br> Index<sup>SM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| First Trust American Leadership <br> Index<sup>TM 1, 2</sup> <br>| Market Index | 6-Year | Point-to-Point | 15% | Dual Plus | 27.0% | Performance <br> Cap<br>|  | N/A |
| S&P 500<sup>®</sup> Price Return Index<sup>1</sup> <br>| Market Index | 6-Year | Annual Lock | 10% | Protection Level | 5.0% | Performance <br> Cap<br>|  | N/A |

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<sup>1</sup> The Index is a "price return Index," not a "total return Index," and therefore does not reflect dividends paid on the securities composing the Index. This will reduce the Index return and may cause the Index to underperform a direct investment in the securities composing the Index.

<sup>2</sup> The Index deduct fees and costs when calculating Index performance which will reduce the Index return and cause each Index to underperform a direct investment in the securities composing the Index.

Each Indexed Account's limit on Index losses is guaranteed not to change for as long as that Indexed Account remains available under the Contract. **We will not offer a 1-Year Indexed Account with a Performance Cap or Performance Trigger Rate below 4.00% or a 6-Year Annual Lock Indexed Account with a Performance Cap below 5.00%. We will not offer a 1-Year Indexed Account with a Dual Performance Trigger Rate below 5.00%. We will not offer a 6-Year Performance Cap Indexed Account with a Performance Cap below 21.00%. We will not offer a 6-Year Dual Plus Indexed Account with a Performance Cap below 27.00%. If you choose to lock the Interim Value of an Indexed Segment under *Secure Lock*+**<sup>®</sup>**, we will reset the Performance Cap for that Indexed Segment, and that Reset Rate may be lower than these stated minimums. We will not offer a Reset Rate under *Secure Lock*+**<sup>®</sup> **less than 3.50%.** However, we reserve the right to add and remove Indexed Accounts and to offer Indexed Accounts with different Crediting Methods or Protection Methods. As such, the limits on Index loss offered under the Contract may change from one Indexed Term to the next. We do not guarantee that the Contract will always offer Indexed Accounts that limit Index losses. See Indexed Accounts in the prospectus for additional details.

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This initial summary prospectus incorporates by reference the prospectus and Statement of Additional Information (SAI) for the Contract, both dated May 8, 2026, 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**SEC File Nos.:** <br>333-283685 <br>**EDGAR Contract Identifier:** <br>C000257790

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## Ex-99.B(P)

**POWER OF ATTORNEY**

We, the undersigned directors and/or officers of Lincoln Life & Annuity Company of New York, hereby constitute and appoint Laura Muse, Kimberly A. Genovese, Daniel P. Herr, Michelle Grindle, Jeffrey L. Smith, Jassmin McIver-Jones, Rachel C. Fischer, Nadine Rosin, Brittany S. Speas, Kyle F. Whiteman and John D. Weber, individually, our true and lawful attorneys-in-fact, with full power to each of them to sign for us, in our names and in the capacities indicated below, any Registration Statements and any and all amendments to Registration Statements; including exhibits, or other documents filed on Forms N-6 or N-4 or any successors or amendments to these Forms, filed with the Securities and Exchange Commission, under the Securities Act of 1933 and/or Securities Act of 1940, on behalf of the Company in its own name or in the name of one of its Separate Accounts, hereby ratifying and confirming our signatures as they may be signed by any of our attorneys-in-fact to any amendment to said Registration Statements as follows:

**Variable Life Insurance Separate Accounts:**

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| | |
|:---|:---|
| &nbsp;&nbsp;Lincoln Life & Annuity Flexible Premium Variable Life Account M (811-08559) | &nbsp;&nbsp; VUL-I / VULcv<br> VULcv-II / VUL Flex ES<br> VULcv-III ES<br> VULdb / VULdb ES<br> VULdb-II ES<br> VULone ES / VULone 2005 ES<br> Momentum VULone / Momentum VULone 2005<br> VULcv-IV ES<br> VULdb-IV ES<br> AssetEdge VUL<br> AssetEdge VUL/AssetEdge Exec VUL 2015<br> VULone 2007<br> VULone 2010 |
| &nbsp;&nbsp;LLANY Separate Account R for Flexible Premium Variable Life (811-08651) | &nbsp;&nbsp; SVUL / SVUL ES<br> SVUL-II ES<br> SVUL-III ES<br> SVUL-IV ES/PreservationEdge SVUL<br> SVULone ES<br> Momentum SVULone<br> SVULone 2007 |
| &nbsp;&nbsp;LLANY Separate Account S for Flexible Premium Variable Life (811-09257) | &nbsp;&nbsp; CVUL Series III ES<br> LCV4 ES<br> LCV5 ES / LCC VUL |
| &nbsp;&nbsp;Lincoln Life & Annuity Flexible Premium Variable Life Account Y (811-21029) | &nbsp;&nbsp; American Legacy VULcv-III<br> American Legacy VULdb-II<br> American Legacy SVUL-III<br> American Legacy VULcv-IV<br> American Legacy VULdb-IV<br> American Legacy SVUL-IV/PreservationEdge SVUL<br> American Legacy AssetEdge |
| &nbsp;&nbsp;Lincoln Life & Annuity Flexible Premium Variable Life Account JA-B | &nbsp;&nbsp;Lincoln Ensemble II NY VUL |

---

**Variable Annuity Insurance Separate Accounts:**

---

| | |
|:---|:---|
| &nbsp;&nbsp;Lincoln Life & Annuity Variable Annuity Account H (811-08441) | &nbsp;&nbsp; American Legacy III<br> American Legacy III B Class<br> American Legacy III C Share<br> American Legacy III Plus<br> American Legacy III View<br> American Legacy Design<br> American Legacy Signature<br> American Legacy Fusion<br> American Legacy Series<br> American Legacy Advisory<br> American Legacy Target Date Income B Share<br> American Legacy Target Date Income Advisory<br> Shareholder's Advantage<br> Shareholder's Advantage A Class |
| &nbsp;&nbsp;Lincoln Life & Annuity Variable Annuity Account L (811-07785) | &nbsp;&nbsp;Group Variable Annuity |
| &nbsp;&nbsp;Lincoln New York Account N for Variable Annuities (811-09763) | &nbsp;&nbsp; ChoicePlus Assurance (A Share)<br> ChoicePlus Assurance (A Class)<br> ChoicePlus Assurance (B Share)<br> ChoicePlus Assurance (B Class)<br> ChoicePlus Assurance (C Share)<br> ChoicePlus Assurance (L Share)<br> ChoicePlus Assurance (Bonus)<br> ChoicePlus<br> ChoicePlus II<br> ChoicePlus Access<br> ChoicePlus II Access<br> ChoicePlus II Advance<br> ChoicePlus II Bonus<br> ChoicePlus Design<br> ChoicePlus Signature<br> ChoicePlus Fusion<br> ChoicePlus Series<br> ChoicePlus Prime<br> ChoicePlus Advisory<br> Lincoln InvestmentSolutions<br> Lincoln Investor Advantage<br> Lincoln Investor Advantage 2018<br> Lincoln Investor Advantage Fee-Based<br> Lincoln Investor Advantage Advisory<br> Core Income |
| &nbsp;&nbsp;Lincon Life & Annuity Company of New York N-4 Registration Statement | &nbsp;&nbsp; Lincoln Level Advantage 2 B Share Index-Linked Annuity<br> Lincoln Level Advantage 2 Advisory Index-Linked Annuity |

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Except as otherwise specifically provided herein, the power-of-attorney granted herein shall not in any manner revoke in whole or in part any power-of-attorney that each person whose signature appears below has previously executed. This power-of-attorney shall not be revoked by any subsequent power-of-attorney each person whose signature appears below may execute, unless such subsequent power specifically refers to this power-of-attorney or specifically states that the instrument is intended to revoke all prior general powers-of-attorney or all prior powers-of-attorney.

This Power-of-Attorney may be executed in separate counterparts each of which when executed and delivered shall be an original; but all such counterparts shall together constitute one and the same instrument. Each counterpart may consist of a number of copies, each signed by less than all, but together signed by all, of the undersigned.

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| | |
|:---|:---|
| &nbsp;&nbsp;**<u>Signature</u>** | &nbsp;&nbsp;**<u>Title</u>** |
| &nbsp;&nbsp; <br> /s/ Ellen G. Cooper<br> __________________________<br> Ellen G. Cooper | &nbsp;&nbsp; <br>President and Director |
| &nbsp;&nbsp; Electronically signed on 3/10/26, 4:31 pm<br>/s/ Christopher M. Neczypor<br> _________________________<br> Christopher M. Neczypor<br> Electronically signed on 3/11/26, 5:06 am<br>| &nbsp;&nbsp; <br>Executive Vice President, Chief Financial Officer and Director |
| &nbsp;&nbsp; <br> /s/ John G. Morriss<br> __________________________<br> John G. Morriss<br> Electronically signed on 3/18/26, 11:46 am<br>| &nbsp;&nbsp; <br>Executive Vice President, Chief Investment Officer and Director |
| &nbsp;&nbsp; /s/ Mark E. Konen<br> __________________________<br> Mark E. Konen<br> Electronically signed on 3/10/26, 4:24 pm<br>| &nbsp;&nbsp; <br>Director |
| &nbsp;&nbsp; <br> /s/ M. Leanne Lachman<br> __________________________<br> M. Leanne Lachman<br> Electronically signed on 3/10/26, 5:13pm<br>| &nbsp;&nbsp; <br>Director |
| &nbsp;&nbsp; <br> /s/ Louis G. Marcoccia<br> __________________________<br> Louis G. Marcoccia<br> Electronically signed on 3/10/26, 3:54 pm<br>| &nbsp;&nbsp; <br>Director |
| &nbsp;&nbsp; <br> /s/ Dale LeFebvre<br> __________________________<br> Dale LeFebvre<br> Electronically signed on 3/12/26, 9:41 am<br>| &nbsp;&nbsp; <br>Director |
| &nbsp;&nbsp; <br> /s/ Adam M. Cohen<br> __________________________<br> Adam M. Cohen<br> Electronically signed on 3/10/26, 3:54 pm  | &nbsp;&nbsp; <br> Senior Vice President, Treasurer and Chief Accounting Officer |

---

We, Laura Muse, Kimberly A. Genovese, Daniel P. Herr, Michelle Grindle, Jeffrey L. Smith, Jassmin McIver-Jones, Rachel C. Fischer, Nadine Rosin, Brittany S. Speas, Kyle F. Whiteman and John D. Weber, have read the foregoing Power of Attorney. We are the person(s) identified therein as agent(s) for the principal named therein. We acknowledge our legal responsibilities.

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| | |
|:---|:---|
| &nbsp;&nbsp; /s/ Laura Muse<br> ______________________________________<br> Laura Muse<br> Electronically signed on 3/12/26, 9:15 am<br>| &nbsp;&nbsp; /s/ Rachel C. Fischer<br> ___________________________________<br> Rachel C. Fischer<br> Electronically signed on 3/10/26, 3:05 pm<br>|
| &nbsp;&nbsp; /s/ Kimberly A. Genovese<br> ______________________________________<br> Kimberly A. Genovese<br> Electronically signed on 3/10/26, 5:10 pm<br>| &nbsp;&nbsp; /s/ Daniel P. Herr<br> ___________________________________<br> Daniel P. Herr<br> Electronically signed on 3/11/26, 3:32 pm |
| &nbsp;&nbsp; /s/ Nadine Rosin<br> _____________________________________<br> Nadine Rosin<br> Electronically signed on 3/11/26, 12:37 pm | &nbsp;&nbsp; /s/ Michelle Grindle<br> ___________________________________<br> Michelle Grindle<br> Electronically signed on 3/11/26, 9:32 am<br>|
| &nbsp;&nbsp; /s/ Jeffrey L. Smith<br> _____________________________________<br> Jeffrey L. Smith<br> Electronically signed on 3/10/26, 3:06 pm<br>| &nbsp;&nbsp; /s/ John D. Weber<br> ___________________________________<br> John D. Weber<br> Electronically signed on 3/11/26, 2:49 pm<br>|
| &nbsp;&nbsp; /s/ Jassmin McIver-Jones<br> _____________________________________<br> Jassmin McIver-Jones<br> Electronically signed on 3/11/26, 9:00 am<br>/s/ Kyle F. Whiteman<br> _____________________________________<br> Kyle F. Whiteman<br> Electronically signed on 3/10/26, 3:35 pm | &nbsp;&nbsp; /s/ Brittany S. Speas<br> ___________________________________<br> Brittany S. Speas<br> Electronically signed on 3/10/26, 3:07 pm<br>|

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Version: March 2026