# EDGAR Filing Document

**Accession Number:** 0000031710
**File Stem:** 0001193125-26-194372
**Filing Date:** 2026-4
**Character Count:** 22645
**Document Hash:** afd25f3ffc578fdafb1ec19a796dd295
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-194372.hdr.sgml**: 20260430

**ACCESSION NUMBER**: 0001193125-26-194372

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260430

**DATE AS OF CHANGE**: 20260430

**EFFECTIVENESS DATE**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HORACE MANN LIFE INSURANCE CO ALLEGIANCE SEPARATE ACCOUNT A
- **CENTRAL INDEX KEY:** 0000031710

**ORGANIZATION NAME:**
- **EIN:** 370726637
- **STATE OF INCORPORATION:** IL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01690
- **FILM NUMBER:** 26920499

**BUSINESS ADDRESS:**
- **STREET 1:** 1 HORACE MANN PLAZA
- **CITY:** SPRINGFIELD
- **STATE:** IL
- **ZIP:** 62715-0001
- **BUSINESS PHONE:** 2177892500

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 4657
- **CITY:** SPRINGFIELD
- **STATE:** IL
- **ZIP:** 62708-4657

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALLEGIANCE SEPARATE ACCOUNT A OF HORACE MANN LIFE INS CO
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALLEGIANCE LIFE INSURANCE CO SEPARATE ACCOUNT A
- **DATE OF NAME CHANGE:** 19900903

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EDUCATORS LIFE INSURANCE CO OF AMERICA SEPARATE ACCT A
- **DATE OF NAME CHANGE:** 19860123

## Series and Classes Contracts Data

### HORACE MANN LIFE INSURANCE CO ALLEGIANCE SEPARATE ACCOUNT A (Series ID: S000011448)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000031661 | Educators - NEA Group Fixed & VAr |  |
| C000031662 | Educators Ind. Fixed and Var      |  |

![](g442382kpmglogo.jpg)

KPMG LLP <br>Suite 500 <br>191 West Nationwide Blvd. <br>Columbus, OH 43215-2568

**Report of Independent Registered Public Accounting Firm**

To the Shareholders and Board of Directors of Horace Mann Life Insurance Company and Contract Owners of Horace Mann Life Insurance Company Allegiance Separate Account A:

*Opinion on the Financial Statements*

We have audited the accompanying statement of net assets of the sub-account listed in the Appendix that comprise the Horace Mann Life Insurance Company Allegiance Separate Account A (the Separate Account) as of December 31, 2025, the related statement of operations for the year then ended, statements of changes in net assets for each of the years in the two-year period then ended and the related notes (collectively, the financial statements) including financial highlights in Note 6 for each of the years in the five-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the sub-account as of December 31, 2025, the results of its operations for the year listed in the Appendix, changes in its net assets for the years listed in the Appendix, and the financial highlights for the five-year period then ended, in conformity with U.S. generally accepted accounting principles.

*Basis for Opinion*

These financial statements and financial highlights are the responsibility of the Separate Account's management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Separate Account in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the Separate Account's auditor since 1989.

Columbus, Ohio <br>April 9, 2026

KPMG LLP, a Delaware limited liability partnership, and its subsidiaries are part of <br>the KPMG global organization of independent member firms affiliated with KPMG <br>International Limited, a private English company limited by guarantee.

------

**Appendix**

Statement of net assets as of December 31, 2025, the related statement of operations for the year then ended, and the statements of changes in net assets for each of the years in the two-year period then ended.

WILSHIRE VIT GLOBAL ALLOCATION FUND

LTR2

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**HORACE MANN LIFE INSURANCE COMPANY**

**ALLEGIANCE SEPARATE ACCOUNT A**

**Statement of Net Assets**

**December 31, 2025** 

---

| | |
|:---|:---|
|  | **WILSHIRE VIT** <br> **GLOBAL** <br> **ALLOCATION FUND**<br>|
| **ASSETS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments at market value | $468072 |
| **TOTAL ASSETS** | $468072 |
| **NET ASSETS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Active Contracts | $468072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payout Contracts | $– |
| **TOTAL NET ASSETS**  | $468072 |
| **INVESTMENTS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost of investments | $409434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on investments | $58638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of shares in underlying mutual funds | &nbsp;&nbsp;&nbsp; 22711 |
| Total Net Assets Represented by: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of units outstanding: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; M&E Rate .0029 | &nbsp;&nbsp;&nbsp; 11686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retired Payout | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; – |
| **Total Units** | &nbsp;&nbsp;&nbsp; 11686 |
| Accumulation Unit Value (Net assets divided by units outstanding) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; M&E Rate .0029 | $40.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retired Payout | $– |

---

See accompanying notes to the financial statements.

------

**HORACE MANN LIFE INSURANCE COMPANY**

**ALLEGIANCE SEPARATE ACCOUNT A**

**Statement of Operations**

**For the year ended December 31, 2025** 

---

| | |
|:---|:---|
|  | **WILSHIRE VIT** <br> **GLOBAL** <br> **ALLOCATION FUND**<br>|
| **INVESTMENT INCOME**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend income distribution | $14275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Income | $14275 |
| **NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distribution | &nbsp;&nbsp; 13944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | &nbsp;&nbsp; 10188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; 54406 |
| &nbsp;&nbsp;&nbsp; Net gain (loss) on investments | $78538 |
| **EXPENSES**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charge (Note 3) | &nbsp;&nbsp; (1641) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Expenses | $(1641) |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS**  | $91171 |

---

See accompanying notes to the financial statements.

------

**HORACE MANN LIFE INSURANCE COMPANY**

**ALLEGIANCE SEPARATE ACCOUNT A**

**Statements of Changes in Net Assets**

**For the Years Ended December 31, 2025 and December 31, 2024** 

---

| | | |
|:---|:---|:---|
| **WILSHIRE VIT** <br> **GLOBAL** <br> **ALLOCATION FUND**<br>| **2025** | **2024** |
| **OPERATIONS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Income | $14275 | $11901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distribution | &nbsp;&nbsp;&nbsp;&nbsp; 13944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; – |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments | &nbsp;&nbsp;&nbsp;&nbsp; 10188 | &nbsp;&nbsp;&nbsp;&nbsp; (5439) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp;&nbsp;&nbsp; 54406 | &nbsp;&nbsp;&nbsp; 59736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charge (Note 3) | &nbsp;&nbsp;&nbsp;&nbsp; (1641) | &nbsp;&nbsp;&nbsp;&nbsp; (1854) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | $91171 | &nbsp;&nbsp;&nbsp; 64343 |
| **CONTRACT OWNERS' TRANSACTIONS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net transfer from (to) fixed accumulation account | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (64) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer between funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; – | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; – |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments to contract owners | &nbsp;&nbsp; (253609) | &nbsp;&nbsp; (47214) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality guarantee adjustment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; – | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; – |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from contract owners; transactions | $(252446) | &nbsp;&nbsp; (47278) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS** | $(161274) | &nbsp;&nbsp;&nbsp; 17065 |
| **Net Assets:** |  |  |
| **Beginning of year** | $629347 | $612281 |
| **End of year** | $468072 | $629346 |

---

See accompanying notes to the financial statements.

------

**HORACE MANN LIFE INSURANCE COMPANY**

**ALLEGIANCE SEPARATE ACCOUNT A**

Notes to the Financial Statements

**For the Year Ended December 31, 2025**

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

**1. NATURE OF SEPARATE ACCOUNT**

Horace Mann Life Insurance Company - Allegiance Separate Account A (the Separate Account), a unit investment trust registered with the Securities and Exchange Commission under the Investment Company Act of 1940, was established by Horace Mann Life Insurance Company (HMLIC) to fund variable annuity contracts. All assets are invested in shares of WILSHIRE VIT GLOBAL ALLOCATION FUND.

During 2025 and 2024 no new funds were added to the separate account.

The contract owners' equity is affected by the investment results of each fund, equity transactions by contract owners and certain contract expenses (see note 3). The accompanying financial statements include only contract owners' purchase payments pertaining to the variable portions of their contracts and exclude any purchase payments for fixed dollar benefits, the latter being included in the accounts of HMLIC.

A contract owner may purchase additional shares of the underlying mutual fund. HMLIC allocates purchase payments to the mutual fund and/or the fixed account as instructed by the contract owner. Shares of the mutual fund are purchased at Net Asset Value (NAV), then converted into accumulation units. Certain transactions may be subject to conditions imposed by the underlying mutual fund, as well as those set forth in the contract.

Under applicable insurance law, the assets and liabilities of the Separate Account are clearly identified and distinguished from HMLIC's other assets and liabilities. The portion of the Separate Accounts assets applicable to the variable annuity contracts is not chargeable with liabilities arising out of any other business HMLIC may conduct.

**Segment Reporting**

An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by a public entity's chief operating decision maker (the "CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The Executive Vice President of Life and Retirement is the Account's CODM and has determined that each subaccount has operated as a single segment since inception. The CODM monitors the operating results of each subaccount and each subaccount's long-term strategic asset allocation is pre-determined in accordance with the terms of the related Prospectus, based on the defined investment objectives and strategies that are executed by each subaccount's portfolio management team. The financial information, in the form of the subaccounts' holdings, total returns, expense ratios, and changes in contract owners' equity (i.e., changes in contract owners' equity resulting from operations, contract purchase payments, withdrawals, surrenders, and transfers) are used by the CODM to assess each subaccount's performance by comparing the underlying mutual funds' performance to their respective benchmark and to make resource allocation decisions for each subaccount's single segment, which is consistent with that presented within the subaccounts' financial statements. Segment assets are reflected on the subaccounts' Statements of Assets and Liabilities as "Total Assets" and significant segment expenses are listed on the Statements of Operations."

**2. SIGNIFICANT ACCOUNTING POLICIES**

**Basis of Presentation**

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates.

**Investments**

Security transactions are recorded on a trade date basis. The carrying amounts of the assets approximate fair value and were measured based on the reported net asset values of the Fund, which in turn value the investment securities at fair value. Income from dividends and gains from realized gain distributions are recorded on the ex-distribution date. Realized gains (losses) from security transactions are determined for financial reporting purposes on the first-in-first-out basis.

------

**HORACE MANN LIFE INSURANCE COMPANY**

**ALLEGIANCE SEPARATE ACCOUNT A**

Notes to the Financial Statements (Continued)

**For the Year Ended December 31, 2025**

The Separate Account measures the fair value of its investments on a recurring basis. Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 820, Fair Value Measurement guidance establish a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:

Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities including valuations for securities listed on a national or foreign exchange or investments in mutual funds and securities lending collateral, which is valued as a practical expedient at its daily reported NAV.

Level 2 Unadjusted observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for the assets or liabilities.

Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.

At the end of each reporting period, an evaluation is made regarding whether or not any event has occurred or circumstances have changed that would cause an instrument to be transferred between levels.

The Separate Account measures the fair value of all its investments using level 1 inputs. For the year ended December 31, 2025, there were no transfers out of Level 1 securities.

**Income Taxes**

The operations of the Separate Account are taxed as part of the operations of HMLIC, which is taxed as a "life insurance company" under the provisions of the Internal Revenue Code. Under current law, no federal income taxes are payable with respect to the Separate Account. Therefore, no federal income tax provision is required.

**Subsequent Events**

Management evaluated subsequent events for the Separate Account through the date the financial statements were issued, and has concluded that there are no events that require financial statement disclosure or adjustments to the financial statements.

**3. EXPENSES AND RELATED PARTY TRANSACTIONS**

Certain specified amounts, as described in the annuity contracts, are paid to HMLIC to cover death benefits, surrender charges, and maintenance charges.

For assuming mortality and expense risk, HMLIC applies an asset charge to the Separate Accounts as a direct reduction to unit value of 0.29% of the daily net assets of the Separate Account depending on the options selected. All existing accounts are not charged annual maintenance fees, and are not subject to surrender charges.

------

**HORACE MANN LIFE INSURANCE COMPANY**

**ALLEGIANCE SEPARATE ACCOUNT A**

Notes to the Financial Statements (Continued)

**For the Year Ended December 31, 2025**

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

**4. PURCHASE AND SALES OF SEPARATE ACCOUNT FUND SHARES**

During the year ended December 31, 2025 purchases and proceeds from sales of fund shares were as follows:

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
| WILSHIRE VIT GLOBAL ALLOCATION FUND | &nbsp;&nbsp; $29382 | &nbsp;&nbsp; $245062 |

---

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**HORACE MANN LIFE INSURANCE COMPANY**

**ALLEGIANCE SEPARATE ACCOUNT A**

Notes to Financial Statements (Continued)

**For the Years Ended December 31, 2025 and December 31, 2024**

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

**5. CHANGE IN CONTRACT OWNERS' ACCOUNT UNITS** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Account Division** | **Units** <br> **outstanding** <br> **at 1/1/2024**<br>| **Consideration** <br> **Received** <br> **2024**<br>| **Net** <br> **Transfers** <br> **2024**<br>| **Payments to** <br> **Contract** <br> **Owners** <br> **2024**<br>| **Units** <br> **Outstanding** <br> **at 12/31/2024**<br>| **Consideration** <br> **Received** <br> **2025**<br>| **Net** <br> **Transfers** <br> **2025**<br>| **Payments to** <br> **Contract** <br> **Owners** <br> **2025**<br>| **Units** <br> **Outstanding** <br> **at 12/31/2025**<br>|
| WILSHIRE VIT GLOBAL ALLOCATION FUND | 19813 | &nbsp;&nbsp; – | &nbsp;&nbsp; – | &nbsp;&nbsp; (1408) | &nbsp;&nbsp; 18405 | &nbsp;&nbsp; – | &nbsp;&nbsp; – | &nbsp;&nbsp; (6719) | &nbsp;&nbsp; 11686 |

---

------

**HORACE MANN LIFE INSURANCE COMPANY**

**ALLEGIANCE SEPARATE ACCOUNT A**

Notes to the Financial Statements (Continued)

**For the Years Ended December 31, 2025 and December 31, 2024**

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

**6. FINANCIAL HIGHLIGHTS**

**WILSHIRE VIT GLOBAL ALLOCATION FUND** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Year Ended** <br> **December 31**<br>| **Units** | &nbsp;&nbsp; **Accumulated** <br> **Unit Value Lowest to Highest**<br>| &nbsp;&nbsp; **Net** <br> **Assets**<br>| **Expense Ratio Lowest to Highest\*** | &nbsp;&nbsp; **Investment**<br> **Income**<br> **Ratio\*\***<br>| **Total Return Lowest to Highest\*\*\*** |
| 2025 | 11686 | 40.06 | 468072 | 0.29% | 2.60% | 17.15% |
| 2024 | 18405 | 34.19 | 629346 | 0.29% | 1.92% | 10.65% |
| 2023 | 19813 | 30.90 | 612281 | 0.29% | 1.33% | 16.08% |
| 2022 | 21314 | 26.62 | 567327 | 0.29% | 3.38% | (18.07)% |
| 2021 | 22602 | 32.49 | 734227 | 0.29% | 1.20% | 11.53% |

---

\*

These ratios represent the annualized contract expenses of the active contract owners of the sub-accounts in the separate account, consisting primarily of mortality and expense charges, for the period indicated. The ratios include only those expenses that result in a direct reduction of unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying fund are excluded.

\*\*

These amounts represent the dividends, excluding distributions of capital gains, received by the sub-accounts from the underlying Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the sub-accounts is affected by the timing of the declaration of dividends by the underlying fund in which the sub-accounts invests.

\*\*\*

These amounts represent the total return for the period indicated, including changes in the value of the underlying fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. The total return is calculated for the period indicated or from the effective date through the end of the reporting period. As the total return is presented as a range of minimum to maximum values, based on the product grouping representing the minimum and maximum expense ratio amounts, some individual contract total returns are not within the ranges presented.

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