# EDGAR Filing Document

**Accession Number:** 0001048604
**File Stem:** 0001104659-26-049244
**Filing Date:** 2026-4
**Character Count:** 57270
**Document Hash:** 573d916c61adc39c19e84f9291206221
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-049244.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0001104659-26-049244

**CONFORMED SUBMISSION TYPE**: 497VPI

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**EFFECTIVENESS DATE**: 20260427

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LINCOLN LIFE VARIABLE ANNUITY ACCOUNT Q
- **CENTRAL INDEX KEY:** 0001048604

**ORGANIZATION NAME:**
- **EIN:** 350472300
- **STATE OF INCORPORATION:** IN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497VPI
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-43373
- **FILM NUMBER:** 26898404

**BUSINESS ADDRESS:**
- **STREET 1:** 1300 SOUTH CLINTON STREET
- **STREET 2:** PO BOX 1110
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802
- **BUSINESS PHONE:** 2604552000

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 1110
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LINCOLN LIFE VARIBALE ANNUITY ACCOUNT Q
- **DATE OF NAME CHANGE:** 19971028

## Series and Classes Contracts Data

### LINCOLN LIFE VARIABLE ANNUITY ACCOUNT Q (Series ID: S000002799)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000007694 | Group Multi-Fund |  |

***Multi-Fund***<sup>®</sup> **Group Variable Annuity Contracts** <br>

**Summary Prospectus for New Investors** <br>**May 1, 2026**

This summary prospectus summarizes key features of the *Multi-Fund*<sup>®</sup> Group Variable Annuity Contracts variable annuity contract, issued by The Lincoln National Life Insurance Company (Lincoln Life or Company).

Before you invest, you should also review the prospectus for the *Multi-Fund*<sup>®</sup> Group Variable Annuity Contracts variable annuity contract, 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 1-800-341-0441 or by sending an email request to Multi-FundE-Service@lfg.com.

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

**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. In some states, this "free look" or cancellation period may be longer if you are replacing an existing Contract. Upon cancellation, you will receive either a full refund of the amount you paid with your application or your total Contract Value. You should review the prospectus, or consult with your investment professional, for additional information about the specific cancellation terms that apply.

**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, taxes and tax penalties.**

**The Securities and Exchange Commission has not approved or disapproved the Contract or determined if this Summary Prospectus is accurate or complete. Any representation to the contrary is a criminal offense.** 

Additional information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.

Investors should consult a registered representative about the Contract's features, benefits, risks, and fees and whether the Contract is appropriate for them based upon their financial situation and objectives. We do not guarantee that all of the variable or fixed investment options will always be available. Our obligations under the Contract (including under the fixed account option, if available), guarantees, or benefits of the Contract are subject to our financial strength and claims-paying ability.

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**Table of Contents** 

---

| | |
|:---|:---|
| Item | Page |
| [Special Terms](#xx_625e55c6-671c-48bb-b804-391f772322ee_1tm265188d2_497vpi) | &nbsp;&nbsp;&nbsp; 3  |
| [Overview of the Contract](#xx_072cad7e-aa15-4b73-a5a8-3e97a651f7c0_1tm265188d2_497vpi) | &nbsp;&nbsp;&nbsp; 4  |
| &nbsp;&nbsp;&nbsp; [Purpose of the Contract](#xx_072cad7e-aa15-4b73-a5a8-3e97a651f7c0_1tm265188d2_497vpi) | &nbsp;&nbsp;&nbsp; 4  |
| &nbsp;&nbsp;&nbsp; [Phases of the Contract](#xx_072cad7e-aa15-4b73-a5a8-3e97a651f7c0_1tm265188d2_497vpi) | &nbsp;&nbsp;&nbsp; 4  |
| &nbsp;&nbsp;&nbsp; [Primary Features and Options of the Contract](#xx_072cad7e-aa15-4b73-a5a8-3e97a651f7c0_1tm265188d2_497vpi) | &nbsp;&nbsp;&nbsp; 4  |
| [Important Information You Should Consider About the](#xx_4612da22-f33d-4a4e-93ea-555b87454d61_1tm265188d2_497vpi)*[Multi-Fund](#xx_4612da22-f33d-4a4e-93ea-555b87454d61_1tm265188d2_497vpi)*<sup>®</sup>[Group Variable Annuity Contract](#xx_4612da22-f33d-4a4e-93ea-555b87454d61_1tm265188d2_497vpi) | &nbsp;&nbsp;&nbsp; 5  |
| [Benefits Available Under the Contract](#xx_4612da22-f33d-4a4e-93ea-555b87454d61_3tm265188d2_497vpi) | &nbsp;&nbsp;&nbsp; 7  |
| [Buying the Contract](#xx_4612da22-f33d-4a4e-93ea-555b87454d61_4tm265188d2_497vpi) | &nbsp;&nbsp;&nbsp; 8  |
| [Making Withdrawals: Accessing the Money in Your Contract](#xx_4612da22-f33d-4a4e-93ea-555b87454d61_5tm265188d2_497vpi) | &nbsp;&nbsp;&nbsp; 9  |
| [Additional Information About Fees](#xx_4612da22-f33d-4a4e-93ea-555b87454d61_6tm265188d2_497vpi) | 10  |
| &nbsp;&nbsp;&nbsp; [Fee Tables](#xx_4612da22-f33d-4a4e-93ea-555b87454d61_6tm265188d2_497vpi) | 10  |
| [Appendix A — Investment Options Available Under The Contract](#xx_55decb82-9304-4475-beeb-b098c27b9456_1tm265188d2_497vpi) | A-1  |

---

------

**Special Terms**

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

**Account Value**—At a given time before the Annuity Commencement Date, the value of all Accumulation Units for a contract plus the value of the fixed side of the contract.

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

**Contract**—The variable annuity contract between the Plan and The Lincoln National Life Insurance Company (Lincoln Life or Company).

**Contractowner**—The party named on the group annuity contract (for example, an employer, a retirement plan trust, an association, or other entity allowed by law).

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

**Death Benefit**—Before the Annuity Commencement Date, the amount payable to your designated Beneficiary if a Participant under a 403(b) plan not subject to ERISA dies.

**Good Order**—The actual receipt at our Home 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.

**Lincoln Life** (we, us, our, Company)—The Lincoln National Life Insurance Company.

**Net Contributions**—The sum of all contributions credited to the Participant's Account Value less any amounts paid when a withdrawal occurs and less any outstanding loan balance.

**Participant**—A person defined as a participant in the plan, who has enrolled under a contract, and under an allocated group contract, on whose behalf Lincoln Life maintains an account.

**Participant Year**—A 12-month period starting with the date we receive the first contribution on behalf of a Participant and on each anniversary after that.

**Plan**—The retirement program that an employer offers to its employees for which a contract is used to accumulate funds.

**Subaccount**—The portion of the VAA that reflects investments in Accumulation and Annuity Units of a class of a particular fund available under the contracts. There is a separate Subaccount which corresponds to each class of a fund.

**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.

------

**Overview of the Contract**

**Purpose of the Contract**

The *Multi-Fund*<sup>®</sup> Group variable annuity contract is designed for you to accumulate assets through investments in a variety of investment options during the accumulation phase. Then, during the annuity phase, the Contract is designed to supplement your retirement income by providing a stream of income payments. The Contract also offers a Death Benefit to protect your designated Beneficiaries.

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 or intend to engage in frequent trading in the Subaccounts.

**Phases of the Contract**

The Contract has two phases: (1) an accumulation phase (for savings) and (2) an annuity phase (for income).

**Accumulation (Savings) Phase.** To help you accumulate assets during the accumulation phase, you can invest your payments and earnings in:

● The variable options available under the Contract, each of which has an underlying mutual fund with its own investment objective, strategies, and risks; investment adviser(s); expense ratio; and performance history; and

● A fixed account option, which guarantees principal and a minimum interest rate.

**Additional information about each investment option is provided in Appendix A – Investment Options Available Under The Contract.** 

**Annuity (Income) Phase*.*** You can end the accumulation phase and enter the annuity phase by electing to annuitize your Contract, turning your Contract Value into a stream of income payments from us (sometimes called annuity payments). These payments may continue for a set period of years, for as long as you live, or for the longer of the two. The payments may be fixed or variable. Variable payments will vary based on the performance of the investment options you select.

In general, if you elect to annuitize, your investments will be converted to annuity payments. You will no longer be able to withdraw money from your Contract and there won't be a Death Benefit. However, please note:

● Certain annuity payout options make an amount payable upon death.

**Primary Features and Options of the Contract**

The tax treatment of your Contract will also impact your Contract's features, such as fees and expenses and applicable benefits.

**Accessing Your Money*.*** Before you annuitize, you can withdraw money from your Contract at any time. If you surrender or take an early withdrawal, you may have to pay a surrender charge and/or income taxes, including a tax penalty if you are younger than age 59½.

**Tax Treatment*.*** You can transfer money between investment options without tax implications, and earnings (if any) on your investments are generally tax-deferred. You are taxed only upon: (1) making a withdrawal; (2) receiving a payment from us; or (3) payment of a Death Benefit.

**Death Benefits*.*** In general, the Contract includes a standard Death Benefit that will pay your designated Beneficiaries the Contract Value at the time of your death (or for periodic premium contracts, total Purchase Payments, less any withdrawals and outstanding loan balance, if greater).

**Additional Services*.*** The additional services listed below are available under the Contract for no additional charge (unless otherwise indicated).

● **Dollar-Cost Averaging*.*** Allows you to automatically transfer money between certain investment options on a monthly basis.

● **Portfolio Rebalancing*.*** Allows you to automatically reallocate your money among investment options on a periodic basis based on your instructions.

● **Automatic Withdrawal Service*.*** Allows you to automatically take periodic withdrawals from your Contract.

● **Cross-Reinvestment*.*** When the amount invested in an investment option exceeds a certain amount, this service automatically transfers the excess amount to another investment option.

● **Loans.** If you participate in a retirement plan that allows participant loans and the additional loan set-up fee under the Contract is permitted by law, you may be able to take a loan against your Contract.

● **Systemic Transfer Service.** The systemic transfer service allows you to fully liquidate your fixed account balance over five years and transfer the amounts into one or more of the Subaccounts.

------

**Important Information You Should Consider About the *Multi-Fund***<sup>®</sup> **Group Variable Annuity Contract** 

**FEES, EXPENSES, AND ADJUSTMENTS** **Location in** **Prospectus** 

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**RISKS** **Location in** **Prospectus** 

**RESTRICTIONS** **Location in** **Prospectus** 

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**TAXES** **Location in** **Prospectus** 

**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.

---

| | | | |
|:---|:---|:---|:---|
| **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** |
| **Name of Benefit** | **Purpose** | **Maximum Fee** | &nbsp;&nbsp; **Brief Description of Restrictions /** <br> **Limitations**<br>|
| **Dollar-Cost Averaging** | &nbsp;&nbsp; Allows you to automatically transfer a <br> designated amount from certain <br> Subaccount, or the fixed side of the <br> contract, into one or more Subaccounts on a <br> monthly basis for 1, 2 or 3 years.<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; ●Minimum amount to be dollar cost <br> averaged is $10,000 for 1 year, and <br> $25,000 for 2 years and 3 years. <br>●Different time periods may be offered for <br> new Purchase Payments and for <br> transfers of Contract Value.<br>●State variations may exist. |
| **Automatic Withdrawal** <br> **Service**<br>| &nbsp;&nbsp; Allows you to take periodic withdrawals <br> from your Contract automatically.<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; ●Automatic withdrawal service/systemic <br> withdrawal option.<br>●Withdrawals are subject to applicable <br> surrender charges, taxes, and tax <br> penalties.<br>●May result in Excess Withdrawals under <br> certain optional benefits.<br>|
| **Systemic Transfer** <br> **Service**<br>| &nbsp;&nbsp; Allows you to fully liquidate your fixed <br> account balance over five years and <br> automatically transfer to one or more of the <br> Subaccounts.<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; ●A distribution or a nonscheduled transfer <br> from the fixed account may cancel the <br> systematic transfer program <br> prematurely. <br>●The program will be canceled <br> prematurely if the fixed account balance <br> falls to $0.<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>|
| **Cross-Reinvestment** | &nbsp;&nbsp; When the amount invested in an investment <br> option exceeds a baseline amount, allows <br> you to automatically transfer the excess <br> amount to another investment option.<br>| None | &nbsp;&nbsp;&nbsp;&nbsp; ●Cannot be used simultaneously with <br> dollar cost averaging or portfolio <br> rebalancing.<br>●Not available for new participants. |
| **Portfolio Rebalancing** | &nbsp;&nbsp; Allows you to automatically reallocate your <br> Contract Value among investment options <br> on a periodic basis based on your standing <br> allocation instructions.<br>| None | &nbsp;&nbsp;&nbsp;&nbsp; ●Rebalancing my take place quarterly, <br> semi-annually or annually.<br>|

---

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

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| | | | |
|:---|:---|:---|:---|
| **Optional Benefits – Available for Election** | **Optional Benefits – Available for Election** | **Optional Benefits – Available for Election** | **Optional Benefits – Available for Election** |
| **Name of Benefit** | **Purpose** | **Maximum Fee** | &nbsp;&nbsp; **Brief Description of Restrictions /** <br> **Limitations**<br>|
| **Loans** | &nbsp;&nbsp; You may be eligible to take a loan against <br> your Contract Value.<br>| &nbsp;&nbsp;&nbsp;&nbsp; ●One-time fee of up <br> to $35 to set up and <br> process loan. <br>●Annual loan <br> maintenance fee of <br> up to 3.00% (as a <br> percentage of loan <br> amount).<br>| &nbsp;&nbsp;&nbsp;&nbsp; ●Only available to Participants in a tax <br> deferred retirement plan that allows <br> Participant loans. <br>●Loans are subject to a variety of <br> limitations, including restrictions as to <br> the loan amount, the loan's duration, the <br> rate of interest, and the manner of <br> repayment. <br>●Loan collateral does not participate in the <br> investment experience of the Sub-<br> Accounts, which can impact the Contract <br> Value and Death Benefit, even if the loan <br> is repaid in full.<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. For Plans that have allocated rights to the Participant, we will issue to each Participant a separate active life certificate that describes the basic provisions of the Contract.

**Purchase Payments – Investing in the Contract**

When we receive a complete enrollment form and all other information necessary for processing a contribution, we will price the initial contribution for a Participant to his or her account no later than two business days after we receive the contribution. If we receive contribution amounts with incomplete or no allocation instructions, we will notify the Contractowner and direct contribution amounts to the pending allocation account. The pending allocation account invests in LVIP Government Money Market Fund. We do not impose the annual administration charge on the pending allocation account.

We will transfer the Account Value from the pending allocation account in accordance with allocation percentages elected on properly completed allocation instructions within two Valuation Dates of receipt of such instructions, and allocate all future contributions in accordance with these percentages until we are notified of a change. If we do not receive properly completed instructions after we have sent three monthly notices, we will refund Account Value in the pending allocation account within 105 days of the initial contribution.

Participants may not allocate contributions to, make transfer to or from, take loans from, or make withdrawals from the pending allocation account, except as set forth in the Contract.

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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. 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 Home Office). 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 Home Office.

If we receive a surrender or withdrawal request in Good Order at our Home 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 using the Accumulation Unit value computed on that Valuation Date. If we receive a surrender or withdrawal request in Good Order at our Home Office after New York Stock Exchange regular market close, we will process the request using the Accumulation Unit value computed on the next Valuation Date.

Withdrawals of Account Value under the Contract for any one of the following reasons (benefit responsive withdrawals) may be made at any time and in any amount, and are not subject to a surrender charge:

● to make a payment due to the Participant's death, disability, retirement, or termination of employment, excluding termination of employment due to plan termination, plant shutdown, or any other program instituted by the Participant's employer which would reduce the work force by more than 20%;

● to make a payment for a participant hardship situation as permitted by the plan;

● to make a payment pursuant to a Qualified Domestic Relations Order (QDRO); or

● to purchase an annuity option under the Contract.

Withdrawals of Account Value that are not benefit responsive withdrawals are generally subject to a surrender charge in accordance with the terms of the Contract. In addition, full liquidation of the fixed account may be requested over a 5-year period.

There are charges associated with withdrawal of Account Value during the first ten years. Additionally, there are tax consequences for surrenders and withdrawals.

The Contract will terminate when there is no Account Value remaining.

**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 have a negative impact on certain <br> optional benefits that you may elect. It may reduce the <br> value of or even terminate 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.

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**Additional Information About Fees**

**Fee Tables**

**The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering or making withdrawals from the Contract. 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 Contractowners or Participants will pay at the time that you buy the Contract, surrender or make withdrawals from the Contract, or transfer Contract Value between investment options, and/or the fixed account. State premium taxes may also be deducted.** 

**TRANSACTION EXPENSES**

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

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| | |
|:---|:---|
| **Loan Establishment Fee per loan (where allowed by law)**<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp; $35 |
| **Surrender Charge (as a percentage of Account Value surrendered/withdrawn)**<sup>2</sup> | 6.00% |

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<sup>1</sup>

We may reduce or waive these charges in certain situations. See Charges, Other Deductions, and Adjustments.

<sup>2</sup>

The surrender charge is reduced over time. The later the redemption occurs, the lower the surrender charge with respect to that surrender or withdrawal. We may reduce or waive this charge in certain situations. See Charges, Other Deductions, and Adjustments — Surrender Charge.

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

**The next table describes the fees and expenses that you will pay *each year* during the time that you own the Contract (not including fund fees and expenses). If you choose to purchase an optional benefit, you will pay additional charges, as shown below.** 

**ANNUAL CONTRACT EXPENSES**

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

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| | |
|:---|:---|
| **Annual Administrative Charge (Account Fee):** | &nbsp;&nbsp;&nbsp;&nbsp; $25 |
| **Base Contract Expenses** (as a percentage of average Contract Value) |  |
| "Standard" mortality and expense risk charge | 1.002% |
| "1<sup>st</sup> Breakpoint" mortality and expense risk charge<sup>1</sup> | &nbsp;&nbsp; 0.75% |
| "2<sup>nd</sup> Breakpoint" mortality and expense risk charge<sup>1</sup> | &nbsp;&nbsp; 0.55% |
| **Loan Maintenance Fee** (as a percentage of amount of loans) | Up to 3.00% |

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<sup>1</sup>

Only certain contracts or plans are eligible for breakpoint coverage.

**The next item shows the minimum and maximum total annual operating expenses charged by the funds that you may pay periodically during the time that you own the Contract. A complete list of funds available under the Contract, including their annual expenses, may be found in Appendix A – Investment Options Available Under the Contract.** 

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| | | |
|:---|:---|:---|
| **Annual Fund Expenses** | **Minimum** | **Maximum** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expenses that are deducted from the fund assets, including <br> management fees, distribution and/or service (12b-1) fees, and other <br> expenses before any fee waivers or expense reimbursements.<br>| 0.23<br> %<br>| 1.32<br> %<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expenses that are deducted from the fund assets, including <br> management fees, distribution and/or service (12b-1) fees, and other <br> expenses after any fee waivers or expense reimbursements.<sup>1</sup><br>| 0.23<br> %<br>| 1.19<br> %<br>|

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<sup>1</sup>

Any fee waivers or expense reimbursements will remain in effect until at least April 30, 2027, and can only be terminated early with approval by the fund's board of directors.

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**EXAMPLES**

**The following Example is intended to help Contractowners or Participants compare the cost of investing in the variable options with the cost of investing in other annuity contracts that offer variable options. These costs include Contractowner/Participant transaction expenses, contract fees, separate account annual expenses, and fund fees and expenses.**

**The Examples assume all Contract Value is allocated to the variable investment options. Your costs could differ from those shown below if you invest in the fixed account option (if available).** 

**The Example assumes that Contractowners or Participants invest $100,000 in the variable options for the time periods indicated. The Example also assumes that your investment has a 5% return each year, the maximum fees and expenses of any of the funds. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:**

1) If you surrender your Contract at the end of the applicable period:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **1 year** | **3 years** | **5 years** | **10 years** |
| Standard | &nbsp;&nbsp; $8531 | &nbsp;&nbsp; $13796 | &nbsp;&nbsp; $18205 | &nbsp;&nbsp; $26760 |
| Breakpoint | &nbsp;&nbsp; $8295 | &nbsp;&nbsp; $13087 | &nbsp;&nbsp; $17008 | &nbsp;&nbsp; $24208 |

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2) If you do not surrender your Contract at the end of the applicable time period:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **1 year** | **3 years** | **5 years** | **10 years** |
| Standard | &nbsp;&nbsp; $2371 | &nbsp;&nbsp; $7304 | &nbsp;&nbsp; $12503 | &nbsp;&nbsp; $26760 |
| Breakpoint | &nbsp;&nbsp; $2120 | &nbsp;&nbsp; $6548 | &nbsp;&nbsp; $11237 | &nbsp;&nbsp; $24208 |

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The expense tables reflect expenses of the VAA as well as the maximum expense of any of the underlying funds. For more information – See Charges, Other Deductions, and Adjustments in this prospectus and in the prospectuses for the funds. Premium taxes may also apply, although they do not appear in the examples. **These examples should not be considered a representation of past or future expenses. Actual expenses may be more or less than those shown.**

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

**Variable Options**

The following is a list of funds currently available under the Contract. Depending on the optional benefits you choose, you may not be able to invest in certain funds. Current performance of the Subaccounts can be found at www.lfg.com/VAprospectus. More information about the funds is available in the prospectuses for the Funds, which may be amended from time to time and can be found online at www.lfg.com/VAprospectus. You can also request this information and current fund performance at no cost by calling 1-800-341-0441 or by sending an email request to Multi-FundE-Service@lfg.com.

The current expenses and performance information below reflect fees and expenses of the Fund, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each fund's past performance is not necessarily an indication of future performance.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objective** | **Fund and**<br> **Adviser/Sub-adviser**<sup>1</sup> <br>| **Current**<br> **Expenses**<br>| **Average Annual Total**<br> **Returns (as of 12/31/2025)** | **Average Annual Total**<br> **Returns (as of 12/31/2025)** | **Average Annual Total**<br> **Returns (as of 12/31/2025)** |
|  |  |  | **1 year** | **5 year** | **10 year** |
| Long-term growth of capital. | AB VPS Sustainable Global Thematic <br> Portfolio - Class B<br> *advised by AllianceBernstein L.P.*<br>| &nbsp;&nbsp; 1.19%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 6.02% | &nbsp;&nbsp; 3.02% | &nbsp;&nbsp; 9.80% |
| Long-term growth of capital. | American Funds<sup>®</sup> IS Global Growth Fund - <br> Class 2<br> *advised by Capital Research and* <br> *Management Company*<br>| &nbsp;&nbsp; 0.65%<sup>2</sup> <br>| &nbsp;&nbsp; 21.62% | &nbsp;&nbsp; 8.23% | &nbsp;&nbsp; 12.17% |
| Growth of capital. | American Funds<sup>®</sup> IS Growth Fund - Class 2<br> *advised by Capital Research and* <br> *Management Company*<br>| &nbsp;&nbsp; 0.58% | &nbsp;&nbsp; 20.24% | &nbsp;&nbsp; 13.37% | &nbsp;&nbsp; 17.97% |
| Long-term growth of capital and income. | American Funds<sup>®</sup> IS Growth-Income Fund <br> - Class 2<br> *advised by Capital Research and* <br> *Management Company*<br>| &nbsp;&nbsp; 0.53% | &nbsp;&nbsp; 18.06% | &nbsp;&nbsp; 13.90% | &nbsp;&nbsp; 13.92% |
| Long-term growth of capital. | American Funds<sup>®</sup> IS International Fund - <br> Class 2<br> *advised by Capital Research and* <br> *Management Company*<br>| &nbsp;&nbsp; 0.72%<sup>2</sup> <br>| &nbsp;&nbsp; 26.77% | &nbsp;&nbsp; 3.40% | &nbsp;&nbsp; 7.00% |
| Capital appreciation. A fund of funds. | DWS Alternative Asset Allocation VIP <br> Portfolio - Class A<br> *advised by DWS Investment Management* <br> *Americas, Inc.*<br>| &nbsp;&nbsp; 0.93% | &nbsp;&nbsp; 10.50% | &nbsp;&nbsp; 5.29% | &nbsp;&nbsp; 4.89% |
| Long-term capital appreciation. | Fidelity<sup>®</sup> VIP Contrafund<sup>®</sup> Portfolio - <br> Service Class<br>| &nbsp;&nbsp; 0.64% | &nbsp;&nbsp; 21.42% | &nbsp;&nbsp; 15.26% | &nbsp;&nbsp; 15.66% |
| &nbsp;&nbsp; High total return with a secondary objective <br> of principal preservation as the fund <br> approaches its target date and beyond. A <br> fund of funds.<br>| Fidelity<sup>®</sup> VIP Freedom 2020 Portfolio<sup>SM</sup> - <br> Service Class<br>| &nbsp;&nbsp; 0.54% | &nbsp;&nbsp; 13.18% | &nbsp;&nbsp; 4.73% | &nbsp;&nbsp; 7.27% |
| &nbsp;&nbsp; High total return with a secondary objective <br> of principal preservation as the fund <br> approaches its target date and beyond. A <br> fund of funds.<br>| Fidelity<sup>®</sup> VIP Freedom 2025 Portfolio<sup>SM</sup> - <br> Service Class<br>| &nbsp;&nbsp; 0.56% | &nbsp;&nbsp; 14.47% | &nbsp;&nbsp; 5.41% | &nbsp;&nbsp; 7.92% |
| &nbsp;&nbsp; High total return with a secondary objective <br> of principal preservation as the fund <br> approaches its target date and beyond. A <br> fund of funds.<br>| Fidelity<sup>®</sup> VIP Freedom 2030 Portfolio<sup>SM</sup> - <br> Service Class<br>| &nbsp;&nbsp; 0.59% | &nbsp;&nbsp; 15.33% | &nbsp;&nbsp; 6.13% | &nbsp;&nbsp; 8.77% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objective** | **Fund and**<br> **Adviser/Sub-adviser**<sup>1</sup><br>| **Current**<br> **Expenses**<br>| **Average Annual Total**<br> **Returns (as of 12/31/2025)** | **Average Annual Total**<br> **Returns (as of 12/31/2025)** | **Average Annual Total**<br> **Returns (as of 12/31/2025)** |
|  |  |  | **1 year** | **5 year** | **10 year** |
| &nbsp;&nbsp; High total return with a secondary objective <br> of principal preservation as the fund <br> approaches its target date and beyond. A <br> fund of funds.<br>| Fidelity<sup>®</sup> VIP Freedom 2035 Portfolio<sup>SM</sup> - <br> Service Class<br>| &nbsp;&nbsp; 0.63% | &nbsp;&nbsp; 16.58% | &nbsp;&nbsp; 7.44% | &nbsp;&nbsp; 9.89% |
| &nbsp;&nbsp; High total return with a secondary objective <br> of principal preservation as the fund <br> approaches its target date and beyond. A <br> fund of funds.<br>| Fidelity<sup>®</sup> VIP Freedom 2040 Portfolio<sup>SM</sup> - <br> Service Class<br>| &nbsp;&nbsp; 0.67% | &nbsp;&nbsp; 18.66% | &nbsp;&nbsp; 8.89% | &nbsp;&nbsp; 10.76% |
| &nbsp;&nbsp; High total return with a secondary objective <br> of principal preservation as the fund <br> approaches its target date and beyond. A <br> fund of funds.<br>| Fidelity<sup>®</sup> VIP Freedom 2045 Portfolio<sup>SM</sup> - <br> Service Class<br>| &nbsp;&nbsp; 0.70% | &nbsp;&nbsp; 19.73% | &nbsp;&nbsp; 9.33% | &nbsp;&nbsp; 10.98% |
| &nbsp;&nbsp; High total return with a secondary objective <br> of principal preservation as the fund <br> approaches its target date and beyond. A <br> fund of funds.<br>| Fidelity<sup>®</sup> VIP Freedom 2050 Portfolio<sup>SM</sup> - <br> Service Class<br>| &nbsp;&nbsp; 0.70% | &nbsp;&nbsp; 19.68% | &nbsp;&nbsp; 9.33% | &nbsp;&nbsp; 10.98% |
| &nbsp;&nbsp; High total return with a secondary objective <br> of principal preservation as the fund <br> approaches its target date and beyond. A <br> fund of funds.<br>| Fidelity<sup>®</sup> VIP Freedom 2055 Portfolio<sup>SM</sup> - <br> Service Class<br>| &nbsp;&nbsp; 0.70% | &nbsp;&nbsp; 19.71% | &nbsp;&nbsp; 9.33% | &nbsp;&nbsp;&nbsp; N/A |
| &nbsp;&nbsp; High total return with a secondary objective <br> of principal preservation as the fund <br> approaches its target date and beyond. A <br> fund of funds.<br>| Fidelity<sup>®</sup> VIP Freedom 2060 Portfolio<sup>SM</sup> - <br> Service Class<br>| &nbsp;&nbsp; 0.70% | &nbsp;&nbsp; 19.75% | &nbsp;&nbsp; 9.33% | &nbsp;&nbsp;&nbsp; N/A |
| To achieve capital appreciation. | Fidelity<sup>®</sup> VIP Growth Portfolio - Service <br> Class<br>| &nbsp;&nbsp; 0.65% | &nbsp;&nbsp; 14.80% | &nbsp;&nbsp; 13.59% | &nbsp;&nbsp; 17.33% |
| Capital appreciation. | LVIP Baron Growth Opportunities Fund - <br> Service Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 1.15%<sup>2</sup> <br>| &nbsp;&nbsp; -10.08% | &nbsp;&nbsp; -0.33% | &nbsp;&nbsp; 8.78% |
| Reasonable income. | LVIP BlackRock Dividend Value Managed <br> Volatility Fund - Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.63%<sup>2</sup> <br>| &nbsp;&nbsp; 11.84% | &nbsp;&nbsp; 10.41% | &nbsp;&nbsp; 8.97% |
| Long-term capital appreciation. | LVIP BlackRock Equity Dividend Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.66%<sup>2</sup> <br>| &nbsp;&nbsp; 13.43% | &nbsp;&nbsp; 8.30% | &nbsp;&nbsp; 8.58% |
| High total investment return. | LVIP BlackRock Global Allocation Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.72%<sup>2</sup> <br>| &nbsp;&nbsp; 18.71% | &nbsp;&nbsp; 6.10% | &nbsp;&nbsp;&nbsp; N/A |
| &nbsp;&nbsp; To maximize real return, consistent with <br> preservation of real capital and prudent <br> investment management.<br>| LVIP BlackRock Inflation Protected Bond <br> Fund - Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.85% | &nbsp;&nbsp;&nbsp; 5.76% | &nbsp;&nbsp; 2.61% | &nbsp;&nbsp; 3.01% |
| &nbsp;&nbsp; Total return through a combination of <br> current income and long-term capital <br> appreciation.<br>| LVIP BlackRock Real Estate Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.86%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 8.92% | &nbsp;&nbsp; 2.71% | &nbsp;&nbsp; 3.68% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objective** | **Fund and**<br> **Adviser/Sub-adviser**<sup>1</sup><br>| **Current**<br> **Expenses**<br>| **Average Annual Total**<br> **Returns (as of 12/31/2025)** | **Average Annual Total**<br> **Returns (as of 12/31/2025)** | **Average Annual Total**<br> **Returns (as of 12/31/2025)** |
|  |  |  | **1 year** | **5 year** | **10 year** |
| &nbsp;&nbsp; Long-term growth of capital in a manner <br> consistent with the preservation of capital.<br>| LVIP Blended Large Cap Growth Managed <br> Volatility Fund - Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.66%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 5.52% | &nbsp;&nbsp; 12.10% | &nbsp;&nbsp; 12.09% |
| Capital appreciation. | LVIP Blended Mid Cap Managed Volatility <br> Fund - Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.72%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 2.90% | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 9.91% |
| Long-term capital appreciation. | LVIP Dimensional U.S. Core Equity 1 Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.39%<sup>2</sup> <br>| &nbsp;&nbsp; 15.66% | &nbsp;&nbsp; 13.14% | &nbsp;&nbsp; 13.67% |
| &nbsp;&nbsp; Maximum long-term total return consistent <br> with reasonable risk.<br>| LVIP Fidelity Institutional AM<sup>®</sup> Total Bond <br> Fund - Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.51%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 6.72% | &nbsp;&nbsp; -0.34% | &nbsp;&nbsp; 2.54% |
| &nbsp;&nbsp; Maximum current income (yield) consistent <br> with a prudent investment strategy.<br>| LVIP Franklin Templeton Core Bond Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.37% | &nbsp;&nbsp;&nbsp; 7.25% | &nbsp;&nbsp; -0.44% | &nbsp;&nbsp; 2.24% |
| To maximize long-term capital appreciation. | LVIP Franklin Templeton Multi-Factor <br> Emerging Markets Equity Fund - Standard <br> Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.46%<sup>2</sup> <br>| &nbsp;&nbsp; 34.31% | &nbsp;&nbsp; 9.07% | &nbsp;&nbsp; 7.89% |
| &nbsp;&nbsp; A high level of current income with some <br> consideration given to growth of capital. A <br> fund of funds.<br>| LVIP Global Conservative Allocation <br> Managed Risk Fund - Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.80%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 9.79% | &nbsp;&nbsp; 3.39% | &nbsp;&nbsp; 4.90% |
| Long-term capital growth. | LVIP Global Equity Managed Volatility Fund <br> - Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.70%<sup>2</sup> <br>| &nbsp;&nbsp; 13.51% | &nbsp;&nbsp; 9.09% | &nbsp;&nbsp; 8.29% |
| &nbsp;&nbsp; A balance between a high level of current <br> income and growth of capital, with a <br> greater emphasis on growth of capital. A <br> fund of funds.<br>| LVIP Global Growth Allocation Managed <br> Risk Fund - Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.79%<sup>2</sup> <br>| &nbsp;&nbsp; 13.54% | &nbsp;&nbsp; 5.57% | &nbsp;&nbsp; 6.20% |
| &nbsp;&nbsp; A balance between a high level of current <br> income and growth of capital, with an <br> emphasis on growth of capital. A fund of <br> funds.<br>| LVIP Global Moderate Allocation Managed <br> Risk Fund - Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.80%<sup>2</sup> <br>| &nbsp;&nbsp; 11.52% | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 5.65% |
| &nbsp;&nbsp; Current income while maintaining a stable <br> value of the investors' shares and <br> preserving the value of the investors' initial <br> investment.<br>| LVIP Government Money Market Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.38%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 3.97% | &nbsp;&nbsp; 2.98% | &nbsp;&nbsp; 1.87% |
| &nbsp;&nbsp; Current income and some capital <br> appreciation. A fund of funds.<br>| LVIP JPMorgan Retirement Income Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.68%<sup>2</sup> <br>| &nbsp;&nbsp; 12.10% | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 5.54% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objective** | **Fund and**<br> **Adviser/Sub-adviser**<sup>1</sup><br>| **Current**<br> **Expenses**<br>| **Average Annual Total**<br> **Returns (as of 12/31/2025)** | **Average Annual Total**<br> **Returns (as of 12/31/2025)** | **Average Annual Total**<br> **Returns (as of 12/31/2025)** |
|  |  |  | **1 year** | **5 year** | **10 year** |
| Long-term capital appreciation. | LVIP JPMorgan Select Mid Cap Value <br> Managed Volatility Fund - Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.78%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 1.51% | &nbsp;&nbsp; 9.02% | &nbsp;&nbsp; 7.33% |
| &nbsp;&nbsp; Current income consistent with the <br> preservation of capital.<br>| LVIP Mondrian Global Income Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.66%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 6.39% | &nbsp;&nbsp; -3.30% | &nbsp;&nbsp; 0.36% |
| &nbsp;&nbsp; Long-term capital appreciation as <br> measured by the change in the value of <br> fund shares over a period of three years or <br> longer.<br>| LVIP Mondrian International Value Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.74%<sup>2</sup> <br>| &nbsp;&nbsp; 36.38% | &nbsp;&nbsp; 11.24% | &nbsp;&nbsp; 7.90% |
| Total return. | LVIP Nomura Diversified Floating Rate Fund <br> - Service Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.89%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 3.09% | &nbsp;&nbsp; 2.51% |
| &nbsp;&nbsp; Total return and, as a secondary objective, <br> high current income.<br>| LVIP Nomura High Yield Fund - Standard <br> Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.72%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 9.26% | &nbsp;&nbsp; 4.07% | &nbsp;&nbsp; 5.88% |
| Maximize long-term capital appreciation. | LVIP Nomura Mid Cap Value Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.42% | &nbsp;&nbsp; 13.35% | &nbsp;&nbsp; 11.72% | &nbsp;&nbsp; 10.68% |
| Long-term capital appreciation. | LVIP Nomura SMID Cap Core Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.80%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 8.85% | &nbsp;&nbsp; 9.10% | &nbsp;&nbsp; 9.65% |
| Maximize long-term capital appreciation. | LVIP Nomura Social Awareness Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.44% | &nbsp;&nbsp; 15.06% | &nbsp;&nbsp; 12.98% | &nbsp;&nbsp; 13.53% |
| &nbsp;&nbsp; Maximum long-term total return, with <br> capital appreciation as a secondary <br> objective.<br>| LVIP Nomura U.S. REIT Fund - Standard <br> Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.83%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 1.02% | &nbsp;&nbsp; 5.57% | &nbsp;&nbsp; 4.04% |
| &nbsp;&nbsp; To match as closely as practicable, before <br> fees and expenses, the performance of the <br> Bloomberg U.S. Aggregate Index.<br>| LVIP State Street Bond Index Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.37%<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; 6.80% | &nbsp;&nbsp; -0.73% | &nbsp;&nbsp; 1.67% |
| &nbsp;&nbsp; Long-term growth of capital. A fund of <br> funds.<br>| LVIP State Street Global Tactical Allocation <br> Managed Volatility Fund - Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.61%<sup>2</sup> <br>| &nbsp;&nbsp; 14.37% | &nbsp;&nbsp; 6.61% | &nbsp;&nbsp; 6.63% |
| &nbsp;&nbsp; To approximate as closely as practicable, <br> before fees and expenses, the performance <br> of a broad market index of non-U.S. foreign <br> securities.<br>| LVIP State Street International Index Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.38%<sup>2</sup> <br>| &nbsp;&nbsp; 31.18% | &nbsp;&nbsp; 8.66% | &nbsp;&nbsp; 8.00% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objective** | **Fund and**<br> **Adviser/Sub-adviser**<sup>1</sup><br>| **Current**<br> **Expenses**<br>| **Average Annual Total**<br> **Returns (as of 12/31/2025)** | **Average Annual Total**<br> **Returns (as of 12/31/2025)** | **Average Annual Total**<br> **Returns (as of 12/31/2025)** |
|  |  |  | **1 year** | **5 year** | **10 year** |
| Capital appreciation. A fund of funds. | LVIP State Street International Managed <br> Volatility Fund - Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.62%<sup>2</sup> <br>| &nbsp;&nbsp; 25.00% | &nbsp;&nbsp; 6.81% | &nbsp;&nbsp; 5.57% |
| &nbsp;&nbsp; To approximate as closely as practicable, <br> before fees and expenses, the total rate of <br> return of common stocks publicly traded in <br> the United States, as represented by the <br> S&P 500 Index.<br>| LVIP State Street S&P 500 Index Fund - <br> Standard Class<sup>3</sup> <br>*advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.23% | &nbsp;&nbsp; 17.60% | &nbsp;&nbsp; 14.16% | &nbsp;&nbsp; 14.55% |
| &nbsp;&nbsp; To approximate as closely as practicable, <br> before fees and expenses, the performance <br> of the Russell 2000<sup>®</sup> Index, which <br> emphasizes stocks of small U.S. <br> companies.<br>| LVIP State Street Small-Cap Index Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.38%<sup>2</sup> <br>| &nbsp;&nbsp; 12.46% | &nbsp;&nbsp; 5.73% | &nbsp;&nbsp; 9.18% |
| &nbsp;&nbsp; A balance between a high level of current <br> income and growth of capital, with an <br> emphasis on growth of capital. A fund of <br> funds.<br>| LVIP Structured Moderate Allocation Fund - <br> Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.56% | &nbsp;&nbsp; 17.28% | &nbsp;&nbsp; 7.16% | &nbsp;&nbsp; 7.59% |
| &nbsp;&nbsp; The highest total return over time <br> consistent with an emphasis on both <br> capital growth and income. A fund of funds.<br>| LVIP T. Rowe Price 2020 Fund - Standard <br> Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.64%<sup>2</sup> <br>| &nbsp;&nbsp; 13.02% | &nbsp;&nbsp; 5.48% | &nbsp;&nbsp; 6.87% |
| &nbsp;&nbsp; The highest total return over time <br> consistent with an emphasis on both <br> capital growth and income. A fund of funds.<br>| LVIP T. Rowe Price 2030 Fund - Standard <br> Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.67%<sup>2</sup> <br>| &nbsp;&nbsp; 14.99% | &nbsp;&nbsp; 6.85% | &nbsp;&nbsp; 7.87% |
| &nbsp;&nbsp; The highest total return over time <br> consistent with an emphasis on both <br> capital growth and income. A fund of funds.<br>| LVIP T. Rowe Price 2040 Fund - Standard <br> Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.71%<sup>2</sup> <br>| &nbsp;&nbsp; 18.14% | &nbsp;&nbsp; 8.89% | &nbsp;&nbsp; 9.21% |
| &nbsp;&nbsp; The highest total return over time <br> consistent with an emphasis on both <br> capital growth and income. A fund of funds.<br>| LVIP T. Rowe Price 2050 Fund - Standard <br> Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.73%<sup>2</sup> <br>| &nbsp;&nbsp; 19.65% | &nbsp;&nbsp; 9.74% | &nbsp;&nbsp; 10.05% |
| &nbsp;&nbsp; The highest total return over time <br> consistent with an emphasis on both <br> capital growth and income. A fund of funds.<br>| LVIP T. Rowe Price 2060 Fund - Standard <br> Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.73%<sup>2</sup> <br>| &nbsp;&nbsp; 19.77% | &nbsp;&nbsp; 9.93% | &nbsp;&nbsp;&nbsp; N/A |
| To maximize capital appreciation. | LVIP T. Rowe Price Structured Mid-Cap <br> Growth Fund - Standard Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.71%<sup>2</sup> <br>| &nbsp;&nbsp; 11.04% | &nbsp;&nbsp; 7.41% | &nbsp;&nbsp; 12.90% |
| &nbsp;&nbsp; Long-term capital appreciation. A fund of <br> funds.<br>| LVIP Vanguard Domestic Equity ETF Fund - <br> Service Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.55%<sup>2</sup> <br>| &nbsp;&nbsp; 16.18% | &nbsp;&nbsp; 12.43% | &nbsp;&nbsp; 13.50% |
| &nbsp;&nbsp; Long-term capital appreciation. A fund of <br> funds.<br>| LVIP Vanguard International Equity ETF <br> Fund - Service Class<br> *advised by Lincoln Financial Investments* <br> *Corporation*<br>| &nbsp;&nbsp; 0.57%<sup>2</sup> <br>| &nbsp;&nbsp; 31.23% | &nbsp;&nbsp; 7.02% | &nbsp;&nbsp; 7.87% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objective** | **Fund and**<br> **Adviser/Sub-adviser**<sup>1</sup><br>| **Current**<br> **Expenses**<br>| **Average Annual Total**<br> **Returns (as of 12/31/2025)** | **Average Annual Total**<br> **Returns (as of 12/31/2025)** | **Average Annual Total**<br> **Returns (as of 12/31/2025)** |
|  |  |  | **1 year** | **5 year** | **10 year** |
| Total return. | MFS<sup>®</sup> VIT Utilities Series - Initial Class<br> *advised by Massachusetts Financial* <br> *Services Company*<br>| &nbsp;&nbsp; 0.78%<sup>2</sup> <br>| &nbsp;&nbsp; 15.01% | &nbsp;&nbsp; 7.64% | &nbsp;&nbsp; 9.49% |
| Capital appreciation. | Nomura VIP Small Cap Value Series - <br> Service Class<br>| &nbsp;&nbsp; 1.04% | &nbsp;&nbsp;&nbsp; 7.83% | &nbsp;&nbsp; 8.93% | &nbsp;&nbsp; 8.84% |
| &nbsp;&nbsp; Maximum total return, consistent with <br> preservation of capital and prudent <br> investment management.<br>| PIMCO VIT Total Return Portfolio - <br> Administrative Class<br> *advised by Pacific Investment Management* <br> *Company, LLC*<br>| &nbsp;&nbsp; 0.73% | &nbsp;&nbsp;&nbsp; 8.89% | &nbsp;&nbsp; 0.02% | &nbsp;&nbsp; 2.36% |

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<sup>1</sup>

The name of the adviser or sub-adviser is not listed if the name is incorporated into the name of the fund or the fund company.

<sup>2</sup>

This fund is subject to an expense reimbursement or fee waiver arrangement. As a result, this fund's annual expenses reflect temporary expense reductions. See the fund prospectus for additional information.

<sup>3</sup>

The Index to which this fund is managed to is a product of S&P Dow Jones Indices LLC (SPDJI) and has been licensed for use by one or more of the portfolio's service providers (licensee). Standard & Poor's<sup>®</sup>, S&P<sup>®</sup>, S&P GSCI<sup>®</sup> and S&P 500<sup>®</sup> are registered trademarks of S&P Global, Inc. or its affiliates (S&P) and Dow Jones<sup>®</sup> is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones). The trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by the licensee. The licensee's products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, or their third party licensors, and none of these parties or their respective affiliates or third party licensors make any representation regarding the advisability of investing in such products, nor do they have liability for any errors, omissions, or interruptions of the Index.

<sup>4</sup>

"Standard & Poor's<sup>®</sup>," "S&P<sup>®</sup>," "Standard & Poor's Equal Weight Index," "S&P EWI," "S&P 500<sup>®</sup>," "Standard & Poor's 500" and "500" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by the Invesco V.I. Equally-Weighted S&P 500 Fund. The fund is not sponsored, endorsed, sold or promoted by S&P, and S&P makes no representation regarding the advisability of investing in the fund.

<sup>5</sup>

Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). The trademark has been licensed to S&P Dow Jones Indices LLC and has been sublicensed for use for certain purposes by First Trust Advisors L.P. The product is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of purchasing the product.

<sup>6</sup>

The Nasdaq-100 Index<sup>®</sup> includes 100 of the largest domestic and international non-financial securities listed on The NASDAQ Stock Market<sup>®</sup> based on market capitalization. NASDAQ<sup>®</sup>, and Nasdaq-100 Index<sup>®</sup>, 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 fund is not sponsored, endorsed, sold or promoted by NASDAQ, and NASDAQ makes no representation regarding the advisability of purchasing the fund.

**Fixed Options**

The following is a list of fixed account options currently available under the Contract. We may change the features of the fixed account options listed below, offer new fixed account options, and terminate existing fixed account options. We will provide you with written notice at least 30 days prior to the date of any change. Depending on the optional benefits you choose, you may not be able to invest in a fixed account option.

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| | | |
|:---|:---|:---|
| Name | Term | Minimum Guaranteed Interest Rate |
| Fixed Account | N/A | &nbsp;&nbsp; 3.00%\* |
| DCA Fixed Account | 3 –60 months | &nbsp;&nbsp; 3.00% |

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\*State specific variances may apply. Please consult your registered representative with any questions.

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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 1, 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>333-43373; 811-08569 <br>**EDGAR Contract Identifier:** <br>C000007694

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