# EDGAR Filing Document

**Accession Number:** 0001116625
**File Stem:** 0001193125-26-206191
**Filing Date:** 2026-5
**Character Count:** 89664
**Document Hash:** eda3c61f56bc806947ae4c0d58eecc96
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-206191.hdr.sgml**: 20260505

**ACCESSION NUMBER**: 0001193125-26-206191

**CONFORMED SUBMISSION TYPE**: 497VPI

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260505

**DATE AS OF CHANGE**: 20260505

**EFFECTIVENESS DATE**: 20260505

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SBL VARIABLE ANNUITY ACCOUNT XIV
- **CENTRAL INDEX KEY:** 0001116625

**ORGANIZATION NAME:**
- **EIN:** 480409770
- **STATE OF INCORPORATION:** KS
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497VPI
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-41180
- **FILM NUMBER:** 26942561

**BUSINESS ADDRESS:**
- **STREET 1:** SECURITY BENEFIT LIFE INSURANCE CO
- **STREET 2:** ONE SECURITY BENEFIT PLACE
- **CITY:** TOPEKA
- **STATE:** KS
- **ZIP:** 66636-0001
- **BUSINESS PHONE:** 7854383000

**MAIL ADDRESS:**
- **STREET 1:** SECURITY BENEFIT LIFE INSURANCE CO
- **STREET 2:** ONE SECURITY BENEFIT PLACE
- **CITY:** TOPEKA
- **STATE:** KS
- **ZIP:** 66636-0001

## Series and Classes Contracts Data

### SBL VARIABLE ANNUITY ACCOUNT XIV (Series ID: S000010520)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000029048 | SECUREDESIGNS VARIABLE ANNUITY |  |

**SECUREDESIGNS**<sup>®</sup> **VARIABLE ANNUITY**

**May 1, 2026**

**Individual Flexible Purchase Payment Deferred Variable Annuity Contract**

**SBL Variable Annuity Account XIV**

**Initial Summary Prospectus for New Investors** 

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| | |
|:---|:---|
| **Issued By:** | **Mailing Address:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Benefit Life Insurance Company** <br> **One Security Benefit Place**<br> **Topeka, Kansas 66636-0001**<br> **1-800-888-2461**<br> **www.securitybenefit.com**<br>| **Security Benefit Life Insurance Company**<br> **P.O. Box 750497**<br> **Topeka, Kansas 66675-0497**<br>|

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This Initial Summary Prospectus describes the SecureDesigns Variable Annuity (the "Contract"), which is an Individual Flexible Purchase Payment Deferred Variable Annuity Contract issued by Security Benefit Life Insurance Company (the "Company"). This Initial Summary Prospectus is used with prospective purchasers.

This Initial Summary Prospectus summarizes key features of the Contract. Before you invest, you should also review the Prospectus for the Contract, which contains more information about the Contract's features, benefits, and risks.

You can find this document and other information about the Contract online at <u>https://vpx.broadridge.com/GetContract1.asp?doctype=pros&cid=sblife&fid=814121612</u>. You can also obtain this information at no cost by calling 1-800-888-2461 or by sending an email request to SBLProspectusRequests@securitybenefit.com.

The Contract is a complex investment and involves risks, including potential loss of principal. The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. Withdrawals could result in surrender charges, taxes, and tax penalties. Our obligations under the Contract are subject to our financial strength and claims-paying ability.

**You may cancel your Contract within 10 days of receiving it without paying fees or penalties. In some states, this cancellation period may be longer. 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.** 

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

SB-10009-15 2026/05/01

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**Table of Contents**

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| | |
|:---|:---|
|  | Page |
| **[Special Terms](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_1)** | **3**  |
| **[Overview of the Contract](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_2)** | **4**  |
| &nbsp;&nbsp;&nbsp; [Purpose of the Contract](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_2) | 4  |
| &nbsp;&nbsp;&nbsp; [Phases of the Contract](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_2) | 4  |
| &nbsp;&nbsp;&nbsp; [Contract Features](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_3) | 5  |
| &nbsp;&nbsp;&nbsp; [Additional Services](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_4) | 6  |
| **[Important Information You Should Consider About the Contract](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_4)** | **6**  |
| **[Benefits Available Under the Contract](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_7)** | **9**  |
| **[Buying the Contract](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_9)** | **11**  |
| **[Making Withdrawals: Accessing the Money in Your Contract](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_10)** | **12**  |
| &nbsp;&nbsp;&nbsp; [Full and Partial Withdrawals](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_10) | 12  |
| **[Additional Information About Fees](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_10)** | **12**  |
| &nbsp;&nbsp;&nbsp; [Transaction Expenses](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_11) | 13  |
| &nbsp;&nbsp;&nbsp; [Annual Contract Expenses](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_11) | 13  |
| &nbsp;&nbsp;&nbsp; [Annual Underlying Fund Expenses](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_12) | 14  |
| &nbsp;&nbsp;&nbsp; [Examples](#xx_fbf41f9f-40e5-4fa1-9ffc-8bd6af84f9e7_12) | 14  |
| **[Appendix A](#xx_00ddac3c-267b-4562-bcb3-d5ea7f135c39_1)[–](#xx_00ddac3c-267b-4562-bcb3-d5ea7f135c39_1)[Investment Options Available Under the Contract](#xx_00ddac3c-267b-4562-bcb3-d5ea7f135c39_1)** | **A-1**  |
| &nbsp;&nbsp;&nbsp; [Underlying Funds](#xx_00ddac3c-267b-4562-bcb3-d5ea7f135c39_1) | A-1  |
| &nbsp;&nbsp;&nbsp; [Fixed Option](#xx_00ddac3c-267b-4562-bcb3-d5ea7f135c39_6) | A-6  |

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**Special Terms**

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Various terms commonly used in this Initial Summary Prospectus are defined as follows:

**Accumulation Unit —** A unit of measure used to calculate Contract Value.

**Administrative Office —** Security Benefit Life Insurance Company, P.O. Box 750497, Topeka, Kansas 66675-0497.

**Annuitant —** The person that you designate on whose life annuity payments may be determined. If you designate Joint Annuitants, "Annuitant" means both Annuitants unless otherwise stated.

**Annuity ("annuity") —** A series of periodic income payments made by the Company to an Annuitant, Joint Annuitant, or Designated Beneficiary during the period specified in the Annuity Options.

**Annuity Options —** Options under the Contract that prescribe the provisions under which a series of annuity payments are made.

**Annuity Period —** The period beginning on the Annuity Start Date during which annuity payments are made.

**Annuity Start Date —** The date when annuity payments begin.

**Automatic Investment Program —** A program pursuant to which Purchase Payments are automatically paid from your bank account on a specified day of each month or a salary reduction agreement.

**Company —** Security Benefit Life Insurance Company. The Company is also identified herein as "we," "our," or "us."

**Contract —** The flexible purchase payment deferred variable annuity contract described in this Initial Summary Prospectus.

**Contract Date —** The date the Contract begins as shown in your Contract. Contract anniversaries are measured from the Contract Date. The Contract Date is usually the date that the initial Purchase Payment is credited to the Contract.

**Contract Debt —** The unpaid loan balance including accrued loan interest.

**Contract Value —** The total value of your Contract which includes amounts allocated to the Subaccounts and the Fixed Account as well as any amount set aside in the Loan Account to secure loans as of any Valuation Date.

**Contract Year —** Each twelve-month period measured from the Contract Date.

**Credit Enhancement —** An amount added to Contract Value under the Extra Credit Rider.

**Designated Beneficiary —** The person having the right to the death benefit, if any, payable upon the death of the Owner or Joint Owner prior to the Annuity Start Date.

**Fixed Account —** An account that is part of the Company's General Account to which you may allocate all or a portion of your Contract Value to be held for accumulation at fixed rates of interest (which may not be less than the Guaranteed Rate) declared periodically by the Company. The Fixed Account is not available in all states and is not available if you have purchased the Extra Credit Rider, the 0-Year or 4-Year Alternate Withdrawal Charge Rider (or the 3-Year Alternate Withdrawal Charge in states where the 4-Year Alternate Withdrawal Charge is not approved).

**General Account —** All assets of the Company other than those allocated to the Separate Account or to any other separate account of the Company.

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**Guaranteed Rate —** The minimum interest rate earned on Contract Value allocated to the Fixed Account, which accrues daily and ranges from an annual effective rate of 1% to 3% based upon the state in which the Contract is issued and the requirements of that state.

**Internal Revenue Code or the Code —** The Internal Revenue Code of 1986, as amended.

**Owner —** The person entitled to the ownership rights under the Contract and in whose name the Contract is issued.

**Purchase Payment —** An amount initially paid to the Company as consideration for the Contract and any subsequent amounts paid to the Company under the Contract.

**Separate Account —** SBL Variable Annuity Account XIV, a separate account of the Company that consists of accounts, referred to as Subaccounts, each of which invests in a corresponding Underlying Fund.

**Subaccount —** A division of the Separate Account which invests in a corresponding Underlying Fund.

**Underlying Fund —** A mutual fund or series thereof that serves as an investment vehicle for its corresponding Subaccount.

**Valuation Date —** Each date on which the Separate Account is valued, which currently includes each day that the New York Stock Exchange is open for trading. Each Valuation Date closes at the end of regular trading on the New York Stock Exchange (normally, 3:00 p.m. Central time). The New York Stock Exchange is scheduled to be closed on weekends and on the following holidays: New Year's Day, Martin Luther King, Jr. Day, Washington's Birthday, Good Friday, Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day.

**Valuation Period —** A period used in measuring the investment experience of each Subaccount of the Separate Account. The Valuation Period begins at the close of one Valuation Date and ends at the close of the next Valuation Date.

**Withdrawal Value —** The amount you will receive upon full withdrawal of the Contract. It is equal to Contract Value less any Contract Debt, any applicable withdrawal charges, any pro rata account administration charge and any uncollected premium taxes. If the Extra Credit Rider is in effect, Contract Value will also be reduced by any Credit Enhancements that have not yet vested. The Withdrawal Value during the Annuity Period under Annuity Option 7 is the present value of future annuity payments commuted at the assumed interest rate, less any applicable withdrawal charges and any uncollected premium taxes.

**Overview of the Contract**

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**Purpose of the Contract —** The Contract is a variable annuity contract. It is designed for retirement planning purposes. You make investments in the Contract's investment options during the accumulation phase. The value of your investments is used to calculate your benefits under the Contract. At the end of the accumulation phase, we use that accumulated value to calculate the payments that we make during the annuity phase. These payments can provide or supplement your retirement income. Generally speaking, the longer your accumulation phase, the greater your accumulated value may be for setting your benefits and annuity payouts. The Contract also includes a death benefit to help financially protect your Designated Beneficiary.

This Contract may be appropriate for you if you have a long investment time horizon. Each Purchase Payment is subject to a withdrawal charge for seven years from the date of that Purchase Payment. This means that a Purchase Payment made in year eight of the Contract will be subject to a withdrawal charge until year 15 of the Contract. Because of the withdrawal charge and the possibility of income tax and tax penalties on early withdrawals, the Contract should not be viewed as an investment vehicle offering low cost liquidity. Your financial goal in acquiring the Contract should focus on a long-term insurance product, offering the prospect of investment growth.

**Phases of the Contract —** The contract has two phases: (1) an accumulation phase (for savings) and (2) an annuity (payout) phase (for income).

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**Accumulation Phase.** During the accumulation phase, earnings accumulate on a tax-deferred basis and are taxed as income when you make a withdrawal. To accumulate value during the accumulation phase, you invest your Purchase Payments and earnings in the Subaccounts that are available under the Contract, which, in turn, invest in Underlying Funds with different investment strategies, objectives, and risk/reward profiles. You may allocate all or part of your Purchase Payments and Contract Value to the Subaccounts. Amounts that you allocate to a Subaccount will increase or decrease in dollar value depending in part on the investment performance of the Underlying Fund in which such Subaccount invests. The Fixed Account option (if available under your Contract), which guarantees the principal and a minimum interest rate, may also be available for investment. If the Fixed Account is available under your Contract, you may allocate all or part of your Purchase Payments to the Fixed Account, which is part of the Company's General Account.

**Additional information about the Underlying Funds currently available under the Contract and the Fixed Account (if available) is provided in Appendix A: Investment Options Available Under the Contract.**

**Annuity (Payout) Phase.** The Annuity phase occurs after the Annuity Start Date and is when you or a designated payee begin receiving regular Annuity payments from your Contract. The Contract provides several Annuity Options. You should carefully review the Annuity Options with your financial or tax adviser. The payments may be fixed or variable or a combination of both. Variable payments will vary based on the performance of the Subaccounts you select. Unless you direct otherwise, proceeds derived from Contract Value allocated to the Subaccounts will be applied to purchase a variable annuity and proceeds derived from Contract Value allocated to the Fixed Account will be applied to purchase a fixed annuity.

Please note that if you annuitize, your investments will be converted to income payments and you generally will no longer be able to withdraw money at will from your Contract. However, there are certain Annuity Options which permit withdrawals of Contract Value after the Annuity Start Date. Optional benefits (e.g., the Annual Stepped Up Death Benefit) terminate upon annuitization if you elect one of Annuity Options 1 through 4, 7, or 8. If you elect Annuity Option 5 or 6, the optional benefit will continue after the Annuity Start Date if you purchase the Waiver of Withdrawal Charge Rider or the 0-Year or 4-Year Alternate Withdrawal Charge Rider (or the 3-Year Alternate Withdrawal Charge in states where the 4-Year Alternate Withdrawal Charge is not approved), and the Company will continue to deduct optional benefit charges after the Annuity Start Date.

**Contract Features —** 

**Accessing Your Money.** Before your Contract is annuitized, you can withdraw money from your Contract at any time. If you take a 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) surrender of the Contract; (3) receiving a payment from us; or (4) payment of a death benefit.

**Death Benefit.** For Contract Owners aged 80 or younger on the Contract issue date, the Contract includes a standard death benefit that will pay the higher of Contract Value or total Purchase Payments (adjusted for any outstanding Contract Debt, any pro rata account administration charge, prior withdrawals, including any withdrawal charges, and any uncollected premium tax) upon your or the Annuitant's death. For Contract Owners aged 81 and older on the Contract issue date, the standard death benefit will be equal to the Contract Value only. If you elect to purchase an optional rider that provides an enhanced death benefit for an additional charge, you have the opportunity to leave your beneficiary a death benefit greater than the standard death benefit.

**Loans.** If you own a Contract issued in connection with a retirement plan that is qualified under Section 403(b) of the Internal Revenue Code, you may be able to borrow money under your Contract using the Contract Value as the only security for the loan. A loan must be taken and repaid prior to the Annuity Commencement Date.

**Waiver of Withdrawal Charge Rider.** For an additional charge, under certain circumstances, we will waive your withdrawal charges.

**Extra Credit Rider.** For an additional cost during the first seven Contract Years, the Company adds to your Contract Value an amount known as a Credit Enhancement, which is based on a percentage of any Purchase Payments made in the first Contract Year. All or a portion of your Credit Enhancement may be recaptured upon free look, surrender, withdrawal, or death.

**0-Year or 4-Year Alternate Withdrawal Charge.** For an additional cost, this rider makes available an alternative, shorter withdrawal charge schedule. The withdrawal charge varies depending on the Purchase Payment age and will apply in lieu of the Contract's seven-year withdrawal charge schedule.

**Advisory Fees.** Deductions from your Contract Value to pay third-party advisory fees are treated as withdrawals under the Contract, but no surrender charge (if applicable) is assessed on such withdrawals, and the deduction of

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advisory fees will not count toward the annual free withdrawal amount. If you elect to pay advisory fees from your Contract Value, then the deduction will reduce the death benefits and other guaranteed benefits, perhaps significantly, and may be subject to federal and state income taxes and a 10% federal penalty tax.

**Additional Services —** We offer several additional services:

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

**Dollar Cost Averaging.** You direct us to systematically transfer Contract Value among the Subaccounts and the Fixed Account (if available) on a monthly, quarterly, semiannual, or annual basis.

**Asset Reallocation Option.** You direct us to automatically reallocate your Contract Value to return to your original percentage investment allocations on a periodic basis.

**Automatic Investment Program.** Purchase Payments are automatically paid from your bank account on a specified day each month or pursuant to a salary reduction agreement.

**Systematic Withdrawals.** You receive regular automatic withdrawals from your Contract, on a monthly, quarterly, annual or semi-annual basis, provided that each payment must amount to at least $100 (unless we consent otherwise).

**Important Information You Should Consider About the Contract**

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|:---|:---|:---|:---|:---|
|  | **FEES, EXPENSES AND ADJUSTMENTS** | **FEES, EXPENSES AND ADJUSTMENTS** | **FEES, EXPENSES AND ADJUSTMENTS** | **Location in Prospectus** |
| **Are There** <br> **Charges or** <br> **Adjustments for** <br> **Early** <br> **Withdrawals?**<br>| **Yes.** If you withdraw money from your Contract within 7 years following your <br> last Purchase Payment, you may be assessed a surrender charge of up to 7% <br> (as a percentage of the portion of the withdrawal amount consisting of <br> Purchase Payments), declining to 0% in the eighth year. <br> For example, if you were to withdraw $100,000 during a surrender charge <br> period, you would be assessed a charge of up to $7,000. This loss will be <br> greater if there are taxes or tax penalties. | **Yes.** If you withdraw money from your Contract within 7 years following your <br> last Purchase Payment, you may be assessed a surrender charge of up to 7% <br> (as a percentage of the portion of the withdrawal amount consisting of <br> Purchase Payments), declining to 0% in the eighth year. <br> For example, if you were to withdraw $100,000 during a surrender charge <br> period, you would be assessed a charge of up to $7,000. This loss will be <br> greater if there are taxes or tax penalties. | **Yes.** If you withdraw money from your Contract within 7 years following your <br> last Purchase Payment, you may be assessed a surrender charge of up to 7% <br> (as a percentage of the portion of the withdrawal amount consisting of <br> Purchase Payments), declining to 0% in the eighth year. <br> For example, if you were to withdraw $100,000 during a surrender charge <br> period, you would be assessed a charge of up to $7,000. This loss will be <br> greater if there are taxes or tax penalties. | **Fee Table**<br> **Fee Table – Examples**<br> **Charges and Deductions** <br> **– Contingent Deferred** <br> **Sales Charge**<br>|
| **Are There** <br> **Transaction** <br> **Charges?**<br>| **No.** Other than surrender charges (if any), there are no charges for other <br> transactions (e.g., transferring money between investment options). | **No.** Other than surrender charges (if any), there are no charges for other <br> transactions (e.g., transferring money between investment options). | **No.** Other than surrender charges (if any), there are no charges for other <br> transactions (e.g., transferring money between investment options). | **Not Applicable** |
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?** | **Yes.** The table below describes the current fees and expenses of the Contract <br> that you may pay *each year*, depending on the Investment Options and optional <br> benefits you choose. Interest on any Contract loans is not reflected. The fees <br> and expenses do not reflect any advisory fees paid to financial intermediaries <br> from your Contract Value or other assets. If such charges were reflected, the <br> fees and expenses would be higher. Please refer to your Contract specifi-<br> cations page for information about the specific fees you will pay each year <br> based on the options you have elected. | **Yes.** The table below describes the current fees and expenses of the Contract <br> that you may pay *each year*, depending on the Investment Options and optional <br> benefits you choose. Interest on any Contract loans is not reflected. The fees <br> and expenses do not reflect any advisory fees paid to financial intermediaries <br> from your Contract Value or other assets. If such charges were reflected, the <br> fees and expenses would be higher. Please refer to your Contract specifi-<br> cations page for information about the specific fees you will pay each year <br> based on the options you have elected. | **Yes.** The table below describes the current fees and expenses of the Contract <br> that you may pay *each year*, depending on the Investment Options and optional <br> benefits you choose. Interest on any Contract loans is not reflected. The fees <br> and expenses do not reflect any advisory fees paid to financial intermediaries <br> from your Contract Value or other assets. If such charges were reflected, the <br> fees and expenses would be higher. Please refer to your Contract specifi-<br> cations page for information about the specific fees you will pay each year <br> based on the options you have elected. | **Fee Table**<br> **Fee Table – Examples**<br> **Charges and Deductions** <br> **– Mortality and Expense** <br> **Risk Charge**<br> **Charges and Deductions** <br> **– Administration Charge**<br> **Charges and Deductions** <br> **– Account Adminis-**<br> **tration Charge**<br> **Charges and Deductions** <br> **– Optional Rider Charges**<br> **Appendix A – Underlying** <br> **Funds Available Under** <br> **the Contract** |
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?** | **Annual Fee** | **Minimum** | **Maximum** | **Fee Table**<br> **Fee Table – Examples**<br> **Charges and Deductions** <br> **– Mortality and Expense** <br> **Risk Charge**<br> **Charges and Deductions** <br> **– Administration Charge**<br> **Charges and Deductions** <br> **– Account Adminis-**<br> **tration Charge**<br> **Charges and Deductions** <br> **– Optional Rider Charges**<br> **Appendix A – Underlying** <br> **Funds Available Under** <br> **the Contract** |
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?** | Base Contract<sup>1</sup>  | 0.76%  | 1.01%  | **Fee Table**<br> **Fee Table – Examples**<br> **Charges and Deductions** <br> **– Mortality and Expense** <br> **Risk Charge**<br> **Charges and Deductions** <br> **– Administration Charge**<br> **Charges and Deductions** <br> **– Account Adminis-**<br> **tration Charge**<br> **Charges and Deductions** <br> **– Optional Rider Charges**<br> **Appendix A – Underlying** <br> **Funds Available Under** <br> **the Contract** |
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?** | (Underlying Fund fees and expenses)<sup>2</sup>  | 0.46% | 3.38%  | **Fee Table**<br> **Fee Table – Examples**<br> **Charges and Deductions** <br> **– Mortality and Expense** <br> **Risk Charge**<br> **Charges and Deductions** <br> **– Administration Charge**<br> **Charges and Deductions** <br> **– Account Adminis-**<br> **tration Charge**<br> **Charges and Deductions** <br> **– Optional Rider Charges**<br> **Appendix A – Underlying** <br> **Funds Available Under** <br> **the Contract** |
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?** | Optional benefits available for an additional charge<sup>3</sup> <br>(for a single optional benefit, if elected) | 0.05% | 0.70% | **Fee Table**<br> **Fee Table – Examples**<br> **Charges and Deductions** <br> **– Mortality and Expense** <br> **Risk Charge**<br> **Charges and Deductions** <br> **– Administration Charge**<br> **Charges and Deductions** <br> **– Account Adminis-**<br> **tration Charge**<br> **Charges and Deductions** <br> **– Optional Rider Charges**<br> **Appendix A – Underlying** <br> **Funds Available Under** <br> **the Contract** |
| **Are There** <br> **Ongoing Fees** <br> **and Expenses?** | &nbsp;&nbsp;&nbsp;&nbsp; 1<br> As a percentage of Contract Value allocated to the Separate Account. This amount <br> includes the account administration charge.<br>2<br> As a percentage of Underlying Fund average net assets.<br> 3<br> As a percentage of Contract Value.  | &nbsp;&nbsp;&nbsp;&nbsp; 1<br> As a percentage of Contract Value allocated to the Separate Account. This amount <br> includes the account administration charge.<br>2<br> As a percentage of Underlying Fund average net assets.<br> 3<br> As a percentage of Contract Value.  | &nbsp;&nbsp;&nbsp;&nbsp; 1<br> As a percentage of Contract Value allocated to the Separate Account. This amount <br> includes the account administration charge.<br>2<br> As a percentage of Underlying Fund average net assets.<br> 3<br> As a percentage of Contract Value.  | **Fee Table**<br> **Fee Table – Examples**<br> **Charges and Deductions** <br> **– Mortality and Expense** <br> **Risk Charge**<br> **Charges and Deductions** <br> **– Administration Charge**<br> **Charges and Deductions** <br> **– Account Adminis-**<br> **tration Charge**<br> **Charges and Deductions** <br> **– Optional Rider Charges**<br> **Appendix A – Underlying** <br> **Funds Available Under** <br> **the Contract** |

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

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

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

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

**CONFLICTS OF INTEREST** **Location in Prospectus** 

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|:---|:---|:---|
|  | **CONFLICTS OF INTEREST** | **Location in Prospectus** |
| **Should I** <br> **Exchange my** <br> **Contract?**<br>| Some investment professionals may have a financial incentive to offer you a <br> new contract in place of the one you already own. You should only exchange a <br> contract you already own if you determine, after comparing the features, fees <br> and risks of both contracts, and any fees or penalties to terminate the existing <br> contract, that it is better for you to purchase the new contract rather than <br> continue to own your existing contract.<br>| **Additional** <br> **Compensation Paid to** <br> **Selected Selling** <br> **Broker-Dealers**<br>|

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**Benefits Available Under the Contract**

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**The following table summarizes information about the benefits available under the Contract.** 

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| | | | |
|:---|:---|:---|:---|
| **Standard Benefits** | **Standard Benefits** | **Standard Benefits** | **Standard Benefits** |
| **Name of** <br> **Benefit**<br>| **Purpose** | **Maximum Fee** | **Brief Description of Restrictions/Limitations** |
| Standard <br> Death Benefit <br> – Contract <br> Issue Age 81 <br> and Older<br>| &nbsp;&nbsp; Provides a death benefit equal to <br> the Contract Value.<br>| &nbsp;&nbsp; There is no <br> charge for this <br> option.<br>| &nbsp;&nbsp;&nbsp;&nbsp; <sup>●</sup>The death benefit will be reduced by any outstanding Contract <br> Debt, any pro rata account administration charge and any <br> uncollected premium tax.<br><sup>●</sup>The Contract Value will be reduced by any Credit Enhancements <br> applied during the 12 months prior to the date of the Owner's <br> death.<br>|
| Standard <br> Death Benefit <br> – Contract <br> Issue Age 80 <br> or Younger<br>| &nbsp;&nbsp; Provides a death benefit equal to <br> the greater of all Purchase <br> Payments less any withdrawals, <br> including withdrawal charges, or <br> the Contract Value.<br>| &nbsp;&nbsp; There is no <br> charge for this <br> option.<br>| &nbsp;&nbsp;&nbsp;&nbsp; <sup>●</sup>The death benefit will be reduced by any outstanding Contract <br> Debt, any pro rata account administration charge and any <br> uncollected premium tax.<br><sup>●</sup>Purchase Payments do not include any Credit Enhancements <br> and/or Bonus Credits.<br><sup>●</sup>The Contract Value will be reduced by any Credit Enhancements <br> applied during the 12 months prior to the date of the Owner's <br> death.<br>|
| Systematic <br> Withdrawals<br>| &nbsp;&nbsp; Allows you to set up automatic <br> periodic payments from your <br> Contract Value. <br>| &nbsp;&nbsp; There is no <br> charge for this <br> option.<br>| &nbsp;&nbsp;&nbsp;&nbsp; <sup>●</sup>Each payment must be at least $100 (unless we consent <br> otherwise).<br><sup>●</sup>Withdrawals may be subject to income tax and penalties. |
| Dollar Cost <br> Averaging <br> Option<br>| &nbsp;&nbsp; Allows the systematic transfer of <br> a specified dollar amount or <br> percentage of Contract Value <br> among Subaccounts and the <br> Fixed Account, if available.<br>| &nbsp;&nbsp; There is no <br> charge for this <br> option.<br>| &nbsp;&nbsp;&nbsp;&nbsp; <sup>●</sup>The minimum amount that may be transferred to any one <br> Subaccount is $25.00.<br><sup>●</sup>The Company may discontinue, modify, or suspend Dollar Cost <br> Averaging at any time.<br><sup>●</sup>Transfers can be made for a fixed period of time, until the total <br> amount elected has been transferred, or until the Contract Value in <br> the Subaccount from which transfers are made has been depleted. <br><sup>●</sup>After termination of Dollar Cost Averaging for any reason, before <br> reinstating Dollar Cost Averaging, you must wait at least one month <br> if transfers were monthly, at least one quarter if transfers were <br> quarterly, at least six months if transfers were semiannual, and at <br> least one year if transfers were annual.<br>|
| Asset <br> Reallocation <br> Option<br>| &nbsp;&nbsp; Allows you to automatically <br> transfer Contract Value on a <br> monthly, quarterly, semiannual or <br> annual basis to maintain a <br> particular percentage allocation <br> among the Subaccounts.<br>| &nbsp;&nbsp; There is no <br> charge for this <br> option.<br>| &nbsp;&nbsp;&nbsp;&nbsp; <sup>●</sup>The Company may discontinue, modify, or suspend the Asset <br> Reallocation Option at any time.<br>|

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| | | |
|:---|:---|:---|
| **Standard Benefits** | **Standard Benefits** | **Standard Benefits** |
| **Name of** <br> **Benefit**<br>| **Purpose** | **Maximum Fee** |
| DCA Plus <br> Account<br>| &nbsp;&nbsp; Interest is credited to the portion <br> of your initial Purchase Payment <br> allocated to the DCA Plus <br> Account which is part of the <br> Company's Fixed Account, and <br> amounts are systematically <br> transferred monthly to the <br> Subaccounts over the DCA Plus <br> Period, per your election.<br>| &nbsp;&nbsp; There is no <br> charge for this <br> option.<br>&nbsp;&nbsp;&nbsp;&nbsp; <sup>●</sup>The rate of Current Interest credited to the DCA Plus Account will <br> be fixed for the applicable DCA Plus Period (a six-month or <br> 12-month period that begins as of the Valuation Date your <br> Purchase Payment is applied to the DCA Plus Account).<br><sup>●</sup>The rate of interest for the Fixed Account allocations could be <br> higher.<br><sup>●</sup>You may only allocate Purchase Payments to the DCA Plus <br> Account. Transfers of Contract Value are not permitted.<br><sup>●</sup>Not available if you have purchased the Extra Credit Rider at 3%, <br> 4% or 5%, the 0-Year or 4-Year Alternate Withdrawal Charge Rider <br> or the Guaranteed Lifetime Withdrawal Benefit Rider, or if the DCA <br> Plus Period has expired.<br><sup>●</sup>Not available in all states. |

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| | | | |
|:---|:---|:---|:---|
| **Optional Benefits Currently Available** | **Optional Benefits Currently Available** | **Optional Benefits Currently Available** | **Optional Benefits Currently Available** |
| **Name of** <br> **Benefit**<br>| **Purpose** | **Maximum Fee** <br> **(as a** <br> **percentage of** <br> **Contract Value)**<br>| **Brief Description of Restrictions/Limitations** |
| Annual <br> Stepped Up <br> Death Benefit<br>| &nbsp;&nbsp; Provides an enhanced death <br> benefit equal to the greatest of <br> (1) Purchase Payments <br> (excluding Credit Enhancements <br> and Bonus Credits) less any <br> withdrawals and withdrawal <br> charges, (2) the Contract Value, <br> or (3) the Stepped Up Death <br> Benefit.<br>| 0.20% | &nbsp;&nbsp;&nbsp;&nbsp; <sup>●</sup>We will recapture any Credit Enhancements, if applicable, during <br> the 12 months preceding the Owner's date of death.<br><sup>●</sup>The death benefit is no longer eligible to "step up" on any Contract <br> anniversary following your 81st birthday.<br><sup>●</sup>If proof of death and instructions regarding payment are not <br> received by the Company within six months of the Owner's date of <br> death, the death benefit will equal the Contract Value as of the <br> Valuation Date such proof of death and instructions are received <br> by the Company.<br><sup>●</sup>Available if the Owner is 79 or younger on the Contract Date.<br> <sup>●</sup>Available at Contract issue only.<br> <sup>●</sup>The benefit will terminate at the Annuity Start Date.<br> <sup>●</sup>The death benefit will be reduced by any outstanding Contract <br> Debt, pro rata account administration charge, and premium tax.<br><sup>●</sup>Withdrawals (including withdrawals to pay advisory fees) will <br> reduce the benefit proportionately. This means withdrawals could <br> significantly reduce the benefit by substantially more than the <br> actual amount of the withdrawal, or even terminate the benefit.<br>|
| Waiver of <br> Withdrawal <br> Charge<br>| &nbsp;&nbsp; Provides a waiver of withdrawal <br> charge in the event of your (1) <br> total and permanent disability <br> prior to age 65, (2) confinement <br> to a nursing home, or (3) terminal <br> illness.<br>| 0.05% | &nbsp;&nbsp;&nbsp;&nbsp; <sup>●</sup>Subject to a written physician's statement acceptable to the <br> Company or a certified Social Security finding of disability.<br><sup>●</sup>We will recapture any Credit Enhancements, if applicable, credited <br> during the 12 months preceding any withdrawal.<br><sup>●</sup>You will receive no benefit from the disability portion of this rider <br> (and the rider charge will remain the same) if your purchase the <br> Contract with this rider after age 65.<br><sup>●</sup>The benefit differs and is not available in certain states.<br> <sup>●</sup>Available at Contract issue only.<br> <sup>●</sup>Depending on the Annuity Option chosen, a rider fee may be <br> imposed for the life of the Contract.<br>|
| Alternate <br> Withdrawal <br> Charge <br> (0-Year)<br>| &nbsp;&nbsp; Makes available a shorter <br> withdrawal charge schedule in <br> lieu of the Contract's 7-year <br> withdrawal charge schedule.<br>| 0.70% | &nbsp;&nbsp;&nbsp;&nbsp; <sup>●</sup>Not available with the Fixed Account.<br> <sup>●</sup>We may recapture any Credit Enhancement, if applicable, in the <br> event of a full or partial withdrawal.<br><sup>●</sup>Available at Contract issue only.<br> <sup>●</sup>Depending on the Annuity Option chosen, a rider fee may be <br> imposed for the life of the Contract.<br>|

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| | | | |
|:---|:---|:---|:---|
| **Optional Benefits Currently Available** | **Optional Benefits Currently Available** | **Optional Benefits Currently Available** | **Optional Benefits Currently Available** |
| **Name of** <br> **Benefit**<br>| **Purpose** | **Maximum Fee** <br> **(as a** <br> **percentage of** <br> **Contract Value)**<br>| **Brief Description of Restrictions/Limitations** |
| Alternate <br> Withdrawal <br> Charge <br> (4-Year)<sup>1</sup> <br>| &nbsp;&nbsp; Makes available a shorter <br> withdrawal charge schedule in <br> lieu of the Contract's 7-year <br> withdrawal charge schedule.<br>| 0.60% | &nbsp;&nbsp;&nbsp;&nbsp; <sup>●</sup>Not available with the Fixed Account.<br> <sup>●</sup>We may recapture any Credit Enhancement, if applicable, in the <br> event of a full or partial withdrawal.<br><sup>●</sup>Available at Contract issue only.<br> <sup>●</sup>This rider may provide a benefit only if a withdrawal is taken in the <br> five to seven Contract Years after the applicable Purchase Payment <br> date because for the first four years after the Purchase Payment <br> date, the withdrawal charges are the same as they would be under <br> the 7-year schedule.<br><sup>●</sup>Depending on the Annuity Option chosen, a rider fee may be <br> imposed for the life of the Contract.<br>|
| 4% Extra <br> Credit<br>| &nbsp;&nbsp; Provides a Credit Enhancement <br> equal to 4% of Purchase <br> Payments, which will be added to <br> the Contract Value for each <br> Purchase Payment made in the <br> first Contract Year.<br>| 0.55% | &nbsp;&nbsp;&nbsp;&nbsp; <sup>●</sup>Credit Enhancements are only applied to Purchase Payments <br> received in the first Contract Year. If Purchase Payments are made <br> in subsequent Contract Years, the charge for this benefit will <br> increase proportionately in relation to those Purchase Payments <br> and no additional Credit Enhancement will be applied.<br><sup>●</sup>Not available with the Fixed Account.<br> <sup>●</sup>You may not select an Annuity Start Date prior to seven years from <br> the effective date of the rider.<br><sup>●</sup>Credit Enhancements are not fully vested until the seventh Contract <br> anniversary. Until that date, all or a portion of the Credit <br> Enhancement(s) will be forfeited under certain circumstances.<br><sup>●</sup>Available at Contract issue only.<br> <sup>●</sup>Available if the Owner is age 80 or younger on the Contract Date. |
| Loans | &nbsp;&nbsp; You may be able to borrow <br> money under your Contract using <br> the Contract Value as the only <br> security for the loan.<br>| &nbsp;&nbsp; 2.16% plus the <br> total charges for <br> riders you have <br> selected (as a <br> percentage of <br> loan amount).<br>| &nbsp;&nbsp;&nbsp;&nbsp; <sup>●</sup>Only available to participants in a tax deferred retirement plan that <br> allows participant loans.<br><sup>●</sup>Loans are subject to a variety of limitations, including restrictions <br> as to the loan amount, the loan's duration, the rate of interest, and <br> the manner of repayment.<br><sup>●</sup>Collateral in the Loan Account does not participate in the <br> investment experience of the Subaccounts, which can impact the <br> Contract Value and death benefit, even if the loan is repaid in full.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 1<br> If the 4-Year Alternate Withdrawal Charge Rider has not been approved in a state, a 3-Year Alternate Withdrawal Charge Rider is available <br> for a charge of 0.40%. See "Alternate Withdrawal Charge" in the Prospectus. | &nbsp;&nbsp;&nbsp;&nbsp; 1<br> If the 4-Year Alternate Withdrawal Charge Rider has not been approved in a state, a 3-Year Alternate Withdrawal Charge Rider is available <br> for a charge of 0.40%. See "Alternate Withdrawal Charge" in the Prospectus. | &nbsp;&nbsp;&nbsp;&nbsp; 1<br> If the 4-Year Alternate Withdrawal Charge Rider has not been approved in a state, a 3-Year Alternate Withdrawal Charge Rider is available <br> for a charge of 0.40%. See "Alternate Withdrawal Charge" in the Prospectus. | &nbsp;&nbsp;&nbsp;&nbsp; 1<br> If the 4-Year Alternate Withdrawal Charge Rider has not been approved in a state, a 3-Year Alternate Withdrawal Charge Rider is available <br> for a charge of 0.40%. See "Alternate Withdrawal Charge" in the Prospectus. |

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**Buying the Contract**

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If you wish to purchase a Contract, you may submit an application and an initial Purchase Payment to the Company, as well as any other form or information that the Company may require. The Company reserves the right to reject an application or Purchase Payment for any reason, subject to the Company's underwriting standards and guidelines and any applicable state or federal law relating to nondiscrimination.

Your initial Purchase Payment must be at least $10,000. Thereafter, you may choose the amount and frequency of Purchase Payments, except that the minimum subsequent Purchase Payment is $500 ($50 under the Automatic Investment Program). The Company will not accept, without prior Company approval, aggregate Purchase Payments in an amount that exceeds $1,000,000 under any variable annuity contract(s) issued by the Company for which you are an Owner and/or Joint Owner. Subsequent Purchase Payments under a Qualified Plan may be limited by the terms of the plan and provisions of the Internal Revenue Code. The Company has the right to refuse any Purchase Payment.

The Company will apply the initial Purchase Payment no later than the end of the second Valuation Date after the Valuation Date it is received by the Company, in good order. In this regard "good order" means that the Purchase Payment is preceded or accompanied by an application that contains sufficient information to establish an account and properly credit such Purchase Payment. Sometimes the Purchase Payment is not preceded by or accompanied by a complete application. The application includes your affirmative consent permitting the Company to hold your initial Purchase Payment beyond five Valuation Dates in its effort to complete your application. If your application is incomplete, and the Company is unable to resolve the problem within five Valuation Dates, the Company will notify

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you of the reasons for the delay. If you affirmatively revoke the consent given with your application to hold your initial Purchase Payment pending resolution of the problem, we will return your Purchase Payment. Otherwise, the Purchase Payment will be applied not later than the second Valuation Date after the Valuation Date the problem is resolved.

The Company will credit subsequent Purchase Payments received in good order as of the end of the Valuation Date on which they are received by the Company; however, subsequent Purchase Payments received at or after close of a Valuation Date (normally 3:00 p.m. Central time) will be effected at the Accumulation Unit value determined on the following Valuation Date.

In an application for a Contract, you select the Subaccounts and/or the Fixed Account to which Purchase Payments will be allocated. Purchase Payments will be allocated according to your instructions contained in the application or more recent instructions received, if any, except that no Purchase Payments allocation is permitted that would result in less than $25.00 per payment being allocated to any one Subaccounts.

**Making Withdrawals: Accessing the Money in Your Contract**

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**Full and Partial Withdrawals —** An Owner may make a partial withdrawal of Contract Value, or surrender the Contract for its Withdrawal Value. Surrender and withdrawal payments will generally be mailed within seven days after we receive the request. A full or partial withdrawal, including a systematic withdrawal, may be taken from the Contract Value at any time while the Owner is living and before the Annuity Start Date, subject to limitations under applicable law. After the Annuity Start Date, withdrawals are only permitted under certain Annuity Options.

A full or partial withdrawal request will be effective as of the end of the Valuation Period that it is received by the Company at its Administrative Office; however, if it is received on a Valuation Date at or after the close of a Valuation Date (normally 3:00 p.m. Central time), the withdrawal will be effected at the Accumulation Unit value determined on the following Valuation Date. In addition, a withdrawal will not be processed unless it is accompanied by a properly completed Withdrawal Request form (including the Owner's signature and the written consent of any effective assignee or irrevocable beneficiary, if applicable).

The proceeds received upon a full withdrawal will be the Contract's Withdrawal Value. The Withdrawal Value is equal to the Contract Value as of the end of the Valuation Period during which the withdrawal is processed, less any outstanding Contract Debt, any applicable withdrawal charges, any pro rata account administration charge, and any uncollected premium taxes. If the Extra Credit Rider is in effect, the Contract Value will also be reduced by any Credit Enhancements that have not yet vested.

A partial withdrawal may be requested for a specified percentage or dollar amount of Contract Value. Each partial withdrawal must generally be at least $500. Partial withdrawals (including systematic withdrawals and withdrawals to pay advisory fees) will result in a payment of the amount specified in the partial withdrawal request less any applicable withdrawal charge, any premium tax charge, and a percentage of any Credit Enhancements that have not yet vested. Alternatively, you may request these amounts be deducted from your remaining Contract Value, provided there is sufficient Contract Value available. No partial withdrawal will be processed which would result in the withdrawal of Contract Value from the Loan Account

There may be tax implications when you take out money, including a 10% penalty tax if the withdrawal is made prior to age 59½, and withdrawals may have a negative impact on certain benefits and guarantees that you may elect. Withdrawals may significantly reduce the value of or even terminate the benefit. Depending on the circumstances, the Internal Revenue Code or your retirement plan may restrict your ability to take withdrawals.

The deduction of advisory fees from your Contract Value is treated as a withdrawal under the Contract, but no surrender charges will be assessed on a withdrawal to pay advisory fees, and the deduction of advisory fees will not count toward the annual free withdrawal amount. Withdrawals to pay advisory fees may still be treated as withdrawals for tax purposes by the Company and/or the IRS. For Non-Qualified Contracts, all or a portion of the charges deducted from your Contract Value to pay advisory fees to a financial intermediary may be subject to federal and state income taxes and a 10% federal penalty tax. See "Charges and Deductions – Deduction of Advisory Fees" in the Prospectus.

**Additional Information About Fees**

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

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**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 Investment Option or from the Contract, or transfer Contract Value between Investment Options. State premium taxes may also be deducted. The fees and expenses do not reflect any advisory fees paid to financial intermediaries from your Contract Value or other assets. If such charges were reflected, the fees and expenses would be higher.**

**Transaction Expenses**

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| | |
|:---|:---|
|  | **Charge** |
| Sales Load on Purchase Payments  |  |
| Maximum Surrender Charge (as a percentage of amount withdrawn attributable to Purchase Payments) | 7%<sup>1</sup> <br>|
| Transfer Processing Fee (per transfer) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1 We also refer to this charge as a contingent deferred sales charge, withdrawal charge, and sales charge. The amount of the surrender charge <br> is determined by reference to how long your Purchase Payments or Bonus Credits have been held under the Contract. Free withdrawals are <br> available equal to (1) 10% of Purchase Payments, excluding any Credit Enhancements and/or Bonus Credits, in the first Contract Year, and (2) <br> 10% of Contract Value as of the first Valuation Date of the Contract Year in each subsequent Contract Year. See "Full and Partial Withdrawals" <br> and "Contingent Deferred Sales Charge" in the Prospectus for more information. | &nbsp;&nbsp;&nbsp;&nbsp; 1 We also refer to this charge as a contingent deferred sales charge, withdrawal charge, and sales charge. The amount of the surrender charge <br> is determined by reference to how long your Purchase Payments or Bonus Credits have been held under the Contract. Free withdrawals are <br> available equal to (1) 10% of Purchase Payments, excluding any Credit Enhancements and/or Bonus Credits, in the first Contract Year, and (2) <br> 10% of Contract Value as of the first Valuation Date of the Contract Year in each subsequent Contract Year. See "Full and Partial Withdrawals" <br> and "Contingent Deferred Sales Charge" in the Prospectus for more information. |

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

**Annual Contract Expenses**

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| | |
|:---|:---|
|  | **Charge** |
| Administrative Expenses | $30.00<sup>1</sup> <br>|
| Base Contract Expenses (as a percentage of average Contract Value)<sup>2</sup> <br>| 1.00% |
| Net Loan Interest Charge<sup>3</sup> <br>| 2.16% |
| **Riders Available for Purchase with the Contract**<sup>4</sup> | **Riders Available for Purchase with the Contract**<sup>4</sup> |
| Annual Stepped Up Death Benefit | 0.20% |
| 4% Extra Credit<sup>5</sup> <br>| 0.55% |
| Waiver of Withdrawal Charge\* | 0.05% |
| Alternate Withdrawal Charge (0-Year)\* | 0.70% |
| Alternate Withdrawal Charge (4-Year)<sup>6</sup>\* | 0.60% |
| &nbsp;&nbsp;&nbsp;&nbsp; \* Charges for these riders will continue after the Annuity Start Date if you select Annuity Option 5 or 6.<br> 1 We call this the account administration charge in your Contract, as well as in other places in the Prospectus. An account administration charge <br> of $30 is deducted at each Contract anniversary, and a pro rata account administration charge is deducted: (1) upon full withdrawal of Contract <br> Value; (2) upon the Annuity Start Date if one of Annuity Options 1 through 4, 7 or 8 is elected; and (3) upon payment of a death benefit. The <br> account administration charge will be waived if your Contract Value is $50,000 or more on the date it is to be deducted. This fee is presented as <br> part of the Base Contract Expenses in the section entitled "Important Information You Should Consider About Your Contract."<br>2 This charge is comprised of both an annual mortality and expense risk charge and an annual administration charge. The administration charge <br> is equal to an annual rate of 0.15% and is deducted daily. The mortality and expense risk charge is 0.85% but is reduced for larger Contract <br> Values as follows: At least $25,000 but less than $100,000 – 0.70%; $100,000 or more – 0.60%. The minimum mortality and expense risk <br> charge of 0.60% is deducted daily. Any mortality and expense risk charge above the minimum charge is deducted from your Contract Value on <br> a monthly basis. During the Annuity Period, the annual mortality and expense risk charge is 1.25% for Annuity Options 1 through 4, 7 and 8, in <br> lieu of the amounts described above, and is deducted daily. The mortality and expense risk charge for Annuity Options 5 and 6 remains as <br> described above. The account administration charge also applies during the Annuity Period. See the discussion under Base Contract Expenses <br> – "Mortality and Expense Risk Charge" in the Prospectus.<br>3 The net loan cost equals the difference between the amount of interest the Company charges you for a loan (which will be no greater than <br> 5.16% plus the total charges for riders you have selected) and the amount of interest the Company credits to the Loan Account, which is 3.0%.<br>4 If you purchase any optional riders, the charge will be calculated as a percentage of Contract Value and deducted from your Contract Value. <br> 5 The Company will deduct the charge for this rider during the seven-year period beginning on the Contract Date.<br> 6 If the 4-Year Alternate Withdrawal Charge Rider has not been approved in a state, a 3-Year Alternate Withdrawal Charge Rider is available for a <br> charge of 0.40%. See "Alternate Withdrawal Charge." The charge for the 4-year Alternate Withdrawal Charge Rider is 0.60% if the Company <br> issues your rider on or after January 1, 2005. However, if the Company issued your rider prior to that date, the charge is 0.55%. | &nbsp;&nbsp;&nbsp;&nbsp; \* Charges for these riders will continue after the Annuity Start Date if you select Annuity Option 5 or 6.<br> 1 We call this the account administration charge in your Contract, as well as in other places in the Prospectus. An account administration charge <br> of $30 is deducted at each Contract anniversary, and a pro rata account administration charge is deducted: (1) upon full withdrawal of Contract <br> Value; (2) upon the Annuity Start Date if one of Annuity Options 1 through 4, 7 or 8 is elected; and (3) upon payment of a death benefit. The <br> account administration charge will be waived if your Contract Value is $50,000 or more on the date it is to be deducted. This fee is presented as <br> part of the Base Contract Expenses in the section entitled "Important Information You Should Consider About Your Contract."<br>2 This charge is comprised of both an annual mortality and expense risk charge and an annual administration charge. The administration charge <br> is equal to an annual rate of 0.15% and is deducted daily. The mortality and expense risk charge is 0.85% but is reduced for larger Contract <br> Values as follows: At least $25,000 but less than $100,000 – 0.70%; $100,000 or more – 0.60%. The minimum mortality and expense risk <br> charge of 0.60% is deducted daily. Any mortality and expense risk charge above the minimum charge is deducted from your Contract Value on <br> a monthly basis. During the Annuity Period, the annual mortality and expense risk charge is 1.25% for Annuity Options 1 through 4, 7 and 8, in <br> lieu of the amounts described above, and is deducted daily. The mortality and expense risk charge for Annuity Options 5 and 6 remains as <br> described above. The account administration charge also applies during the Annuity Period. See the discussion under Base Contract Expenses <br> – "Mortality and Expense Risk Charge" in the Prospectus.<br>3 The net loan cost equals the difference between the amount of interest the Company charges you for a loan (which will be no greater than <br> 5.16% plus the total charges for riders you have selected) and the amount of interest the Company credits to the Loan Account, which is 3.0%.<br>4 If you purchase any optional riders, the charge will be calculated as a percentage of Contract Value and deducted from your Contract Value. <br> 5 The Company will deduct the charge for this rider during the seven-year period beginning on the Contract Date.<br> 6 If the 4-Year Alternate Withdrawal Charge Rider has not been approved in a state, a 3-Year Alternate Withdrawal Charge Rider is available for a <br> charge of 0.40%. See "Alternate Withdrawal Charge." The charge for the 4-year Alternate Withdrawal Charge Rider is 0.60% if the Company <br> issues your rider on or after January 1, 2005. However, if the Company issued your rider prior to that date, the charge is 0.55%. |

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**The next table below shows the minimum and maximum total operating expenses charged by the Underlying Funds that you may pay periodically during the time that you own the Contract. Expenses shown may change over time and may be higher or lower in the future. A complete list of Underlying Funds available under the Contract, including their annual expenses, may be found in Appendix A to this Initial Summary Prospectus.**

**Annual Underlying Fund Expenses**

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| | | |
|:---|:---|:---|
|  | **Minimum** | **Maximum** |
| Annual Underlying Fund Expenses (expenses deducted from Underlying Fund assets include <br> management fees, distribution (12b-1) fees, service fees and other expenses)<br>| 0.46% | 3.38% |
| Net Annual Underlying Fund Expenses (after contractual waivers/reimbursements)<sup>1</sup> <br>| 0.46% | 3.19% |
| &nbsp;&nbsp;&nbsp;&nbsp; 1<br> Certain of the Underlying Funds have entered into contractual expense waiver or reimbursement arrangements that reduce fund expenses <br> during the period of the arrangement. These arrangements vary in length and are in place at least through April 30, 2027. | &nbsp;&nbsp;&nbsp;&nbsp; 1<br> Certain of the Underlying Funds have entered into contractual expense waiver or reimbursement arrangements that reduce fund expenses <br> during the period of the arrangement. These arrangements vary in length and are in place at least through April 30, 2027. | &nbsp;&nbsp;&nbsp;&nbsp; 1<br> Certain of the Underlying Funds have entered into contractual expense waiver or reimbursement arrangements that reduce fund expenses <br> during the period of the arrangement. These arrangements vary in length and are in place at least through April 30, 2027. |

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**Examples — These Examples are intended to help you compare the cost of investing in the Subaccounts with the cost of investing in other annuity contracts that offer Variable Options. These costs include transaction expenses, Annual Contract Expenses and annual Underlying Fund fees and expenses but do not include state premium taxes, which may be applicable to your Contract. The Examples do not reflect any advisory fees paid to financial intermediaries from your Contract Value or other assets. If such fees were reflected, the costs would be higher.**

**The Example assumes all Contract value is allocated to the Subaccounts. Your costs could differ from those shown below if you invest in the Fixed Account (if available).**

**These Examples assume that you invest $100,000 in the Subaccounts for the time periods indicated. The Examples also assume that your investment has a 5% return each year and you elect the most expensive combination of optional benefits available for an additional charge. The first Example assumes the most expensive Annual Underlying Fund Expenses. The second Example assumes the least expensive Annual Underlying Fund Expenses. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:**

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| | | | | |
|:---|:---|:---|:---|:---|
| **Based on the Most Expensive Annual Underlying Fund Expenses** | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| If you surrender your Contract at the end of the applicable time period | &nbsp;&nbsp; $6046.28 | &nbsp;&nbsp; $17987.23 | &nbsp;&nbsp; $29728.84 | &nbsp;&nbsp; $56762.41 |
| If you do not surrender; or if you annuitize your Contract at the end of the <br> applicable time period.<br>| &nbsp;&nbsp; $6046.28 | &nbsp;&nbsp; $17987.23 | &nbsp;&nbsp; $29728.84 | &nbsp;&nbsp; $56762.41 |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Based on the Least Expensive Annual Underlying Fund Expenses** | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| If you surrender your Contract at the end of the applicable time period | &nbsp;&nbsp; $3066.52 | &nbsp;&nbsp; $9392.40 | &nbsp;&nbsp; $15984.41 | &nbsp;&nbsp; $31730.79 |
| If you do not surrender; or if you annuitize your Contract at the end of the <br> applicable time period<br>| &nbsp;&nbsp; $3066.52 | &nbsp;&nbsp; $9392.40 | &nbsp;&nbsp; $15984.41 | &nbsp;&nbsp; $31730.79 |

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APPENDIX A

**Investment Options Available Under the Contract**

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**Underlying Funds —** The following is a list of Underlying Funds available under the Contract. More information about the Underlying Funds is available in the prospectuses for the Underlying Funds, which may be amended or updated from time to time, and can be found online at https://vpx.broadridge.com/GetContract1.asp?doctype=pros&cid=sblife&fid=814121612. You can view, download, and print copies of Underlying Fund documents at this website. You can also request this information at no cost by calling 1-800-888-2461 or by sending an email request to SBLProspectusRequests@securitybenefit.com.

The current expenses and performance information below reflect the fees and expenses of the Underlying Funds, 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 Underlying Fund's past performance is not necessarily an indication of future performance. Updated performance information is available online at https://www.securitybenefit.com/performance.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment**<br> **Type** | **Fund**<br> **Adviser/Sub-Adviser** | **Current**<br> **Expenses**<sup>1</sup>  | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** |
| **Investment**<br> **Type** | **Fund**<br> **Adviser/Sub-Adviser** | **Current**<br> **Expenses**<sup>1</sup>  | **1 Year** | **5 Year** | **10 Year** |
| Mid Cap Value | AB Discovery Value – Class B<br> *Adviser:* AllianceBernstein L.P.<br>| 1.07% | &nbsp;&nbsp; 2.64% | &nbsp;&nbsp; 8.48% | &nbsp;&nbsp; 8.27% |
| Global <br> Allocation<br>| AB VPS Dynamic Asset Allocation – Class B<br> *Adviser:* AllianceBernstein L.P.<br>| 1.20% | 13.21% | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 5.25% |
| Balanced/Asset <br> Allocation<br>| American Funds IS<sup>®</sup> Asset Allocation – Class 4<br> *Adviser:* Capital Research and Management Company<br>| 0.79% | 15.59% | &nbsp;&nbsp; 8.70% | &nbsp;&nbsp; 9.50% |
| Global Bond | American Funds IS<sup>®</sup> Capital World Bond – Class 4<br> *Adviser:* Capital Research and Management Company<br>| 0.98% | &nbsp;&nbsp; 9.03% | -2.76% | &nbsp;&nbsp; 0.97% |
| International <br> Equity<br>| American Funds IS<sup>®</sup> EUPAC Fund<sup>TM</sup> – Class 4<br> *Adviser:* Capital Research and Management Company<br>| 1.03% | 26.41% | &nbsp;&nbsp; 3.14% | &nbsp;&nbsp; 6.73% |
| Global Equity | American Funds IS<sup>®</sup> Global Growth – Class 4<br> *Adviser:* Capital Research and Management Company<br>| 1.01% | 21.34% | &nbsp;&nbsp; 7.97% | 11.89% |
| Large Cap <br> Blend<br>| American Funds IS<sup>®</sup> Growth-Income – Class 4<br> *Adviser:* Capital Research and Management Company<br>| 0.78% | 17.77% | 13.62% | 13.63% |
| Emerging <br> Markets<br>| American Funds IS<sup>®</sup> New World – Class 4<br> *Adviser:* Capital Research and Management Company<br>| 1.15% | 27.92% | &nbsp;&nbsp; 5.06% | &nbsp;&nbsp; 8.98% |
| Large Cap <br> Value<br>| BlackRock Equity Dividend V.I. – Class III<br> *Adviser:* BlackRock Advisors, LLC<br>| 1.13% | 21.32% | 11.45% | 11.01% |
| Global <br> Allocation<br>| BlackRock Global Allocation V.I. – Class III<br> *Adviser:* BlackRock Advisors, LLC<br> *Sub-Adviser:* BlackRock (Singapore) Limited; BlackRock <br> International Limited<br>| 1.15% | 19.42% | &nbsp;&nbsp; 5.51% | &nbsp;&nbsp; 7.33% |
| High Yield Bond | BlackRock High Yield V.I. – Class III<br> *Adviser:* BlackRock Advisors, LLC<br> *Sub-Adviser:* BlackRock International Limited<br>| 0.89% | &nbsp;&nbsp; 9.09% | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 6.07% |
| Mid Cap Blend | BNY Mellon IP MidCap Stock – Service Class<br> *Adviser:* BNY Mellon Investment Adviser, Inc.<br> *Sub-Adviser:* Newton Investment Management North <br> America, LLC<br>| 1.12% | &nbsp;&nbsp; 9.81% | &nbsp;&nbsp; 9.39% | &nbsp;&nbsp; 8.51% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment**<br> **Type** | **Fund**<br> **Adviser/Sub-Adviser** | **Current**<br> **Expenses**<sup>1</sup> | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** |
| **Investment**<br> **Type** | **Fund**<br> **Adviser/Sub-Adviser** | **Current**<br> **Expenses**<sup>1</sup> | **1 Year** | **5 Year** | **10 Year** |
| Small Cap <br> Blend<br>| BNY Mellon IP Small Cap Stock Index – Service Class<br> *Adviser:* BNY Mellon Investment Adviser, Inc.<br>| 0.61% | &nbsp;&nbsp; 5.36% | &nbsp;&nbsp; 6.65% | &nbsp;&nbsp; 9.15% |
| Specialty-Sector | BNY Mellon IP Technology Growth – Service Class<br> *Adviser:* BNY Mellon Investment Adviser, Inc.<br> *Sub-Adviser:* Newton Investment Management North <br> America, LLC<br>| 1.07% | 27.87% | &nbsp;&nbsp; 8.96% | 16.97% |
| Large Cap <br> Blend<br>| BNY Mellon VIF Appreciation – Service Class<br> *Adviser:* BNY Mellon Investment Adviser, Inc.<br> *Sub-Adviser:* Fayez Sarofim & Co., LLC<br>| 1.10% | &nbsp;&nbsp; 9.78% | &nbsp;&nbsp; 9.08% | 12.63% |
| Large Cap <br> Growth<br>| ClearBridge Variable Growth – Class II<br> *Adviser:* Franklin Templeton Fund Adviser, LLC<br> *Sub-Adviser:* ClearBridge Investments, LLC<br>| 1.13% | 13.10% | &nbsp;&nbsp; 4.98% | &nbsp;&nbsp; 7.20% |
| Small Cap <br> Growth<br>| ClearBridge Variable Small Cap Growth – Class I<br> *Adviser:* Franklin Templeton Fund Adviser, LLC<br> *Sub-Adviser:* ClearBridge Investments, LLC<br>| 0.81% | &nbsp;&nbsp; 9.23% | -0.17% | &nbsp;&nbsp; 9.38% |
| Large Cap <br> Value<br>| Fidelity<sup>®</sup> VIP Equity-Income – Service Class 2<br> *Adviser:* Fidelity Management & Research Company LLC<br> *Sub-Adviser:* FMR Investment Management (UK) <br> Limited; Fidelity Management & Research (Hong Kong) <br> Limited; Fidelity Management & Research (Japan) <br> Limited<br>| 0.71% | 18.75% | 12.23% | 11.32% |
| Large Cap <br> Growth<br>| Fidelity<sup>®</sup> VIP Growth & Income – Service Class 2<br> *Adviser:* Fidelity Management & Research Company LLC<br> *Sub-Adviser:* FMR Investment Management (UK) <br> Limited; Fidelity Management & Research (Hong Kong) <br> Limited; Fidelity Management & Research (Japan) <br> Limited<br>| 0.72% | 21.21% | 15.83% | 13.56% |
| Large Cap <br> Growth<br>| Fidelity<sup>®</sup> VIP Growth Opportunities – Service Class 2<br> *Adviser:* Fidelity Management & Research Company LLC<br> *Sub-Adviser:* FMR Investment Management (UK) <br> Limited; Fidelity Management & Research (Hong Kong) <br> Limited; Fidelity Management & Research (Japan) <br> Limited<br>| 0.81% | 21.73% | 11.04% | 19.64% |
| High Yield Bond | Fidelity<sup>®</sup> VIP High Income – Service Class 2<br> *Adviser:* Fidelity Management & Research Company LLC<br> *Sub-Adviser:* FMR Investment Management (UK) <br> Limited; Fidelity Management & Research (Hong Kong) <br> Limited; Fidelity Management & Research (Japan) <br> Limited<br>| 1.07% | 10.31% | &nbsp;&nbsp; 4.00% | &nbsp;&nbsp; 5.34% |
| International <br> Equity<br>| Fidelity<sup>®</sup> VIP Overseas – Service Class 2<br> *Adviser:* Fidelity Management & Research Company LLC<br> *Sub-Adviser:* FMR Investment Management (UK) <br> Limited; Fidelity Management & Research (Hong Kong) <br> Limited; Fidelity Management & Research (Japan) <br> Limited; FIL Investment Advisors; FIL Investment <br> Advisors (UK) Limited<br>| 0.97% | 20.05% | &nbsp;&nbsp; 6.35% | &nbsp;&nbsp; 7.55% |
| Balanced/Asset <br> Allocation<br>| Franklin Allocation VIP Fund – Class 4<br> *Adviser:* Franklin Advisers, Inc.<br>| 0.97% | 12.53% | &nbsp;&nbsp; 5.59% | &nbsp;&nbsp; 7.19% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment**<br> **Type** | **Fund**<br> **Adviser/Sub-Adviser** | **Current**<br> **Expenses**<sup>1</sup> | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** |
| **Investment**<br> **Type** | **Fund**<br> **Adviser/Sub-Adviser** | **Current**<br> **Expenses**<sup>1</sup> | **1 Year** | **5 Year** | **10 Year** |
| Balanced/Asset <br> Allocation<br>| Franklin Income VIP Fund – Class 2<br> *Adviser:* Franklin Advisers, Inc.<br>| 0.72% | 12.56% | &nbsp;&nbsp; 7.66% | &nbsp;&nbsp; 7.30% |
| Global Equity | Franklin Mutual Global Discovery VIP Fund – Class 2<br> *Adviser:* Franklin Mutual Advisers, LLC<br>| 1.16% | 23.34% | 12.00% | &nbsp;&nbsp; 8.52% |
| Small Cap <br> Value<br>| Franklin Small Cap Value VIP Fund – Class 2<br> *Adviser:* Franklin Mutual Advisers, LLC<br>| 0.92% | &nbsp;&nbsp; 7.65% | &nbsp;&nbsp; 8.86% | &nbsp;&nbsp; 9.81% |
| Multi-Sector <br> Bond<br>| Franklin Strategic Income VIP Fund – Class 2<br> *Adviser:* Franklin Advisers, Inc.<br>| 1.08% | &nbsp;&nbsp; 7.24% | &nbsp;&nbsp; 1.92% | &nbsp;&nbsp; 3.10% |
| Floating Rate <br> Bond<br>| Guggenheim VIF Floating Rate Strategies<br> *Adviser:* Guggenheim Partners Investment Management, <br> LLC<br>| 1.54% | &nbsp;&nbsp; 3.57% | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 4.12% |
| Specialty | Guggenheim VIF Global Managed Futures Strategy<br> *Adviser:* Security Investors, LLC<br>| 2.32% | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 3.94% | &nbsp;&nbsp; 1.27% |
| High Yield Bond | Guggenheim VIF High Yield<br> *Adviser:* Guggenheim Partners Investment Management, <br> LLC<br>| 1.57% | &nbsp;&nbsp; 6.84% | &nbsp;&nbsp; 4.16% | &nbsp;&nbsp; 5.55% |
| Specialty | Guggenheim VIF Multi-Hedge Strategies<br> *Adviser:* Security Investors, LLC<br>| 1.80% | &nbsp;&nbsp; 1.25% | &nbsp;&nbsp; 1.23% | &nbsp;&nbsp; 1.62% |
| Intermediate <br> Term Bond<br>| Guggenheim VIF Total Return Bond<br> *Adviser:* Guggenheim Partners Investment Management, <br> LLC<br>| 0.99% | &nbsp;&nbsp; 7.48% | -0.21% | &nbsp;&nbsp; 3.13% |
| Mid Cap Value | Invesco V.I. American Value – Series II<br> *Adviser:* Invesco Advisers, Inc.<br>| 1.14% | 20.76% | 17.56% | 12.01% |
| Large Cap <br> Value<br>| Invesco V.I. Comstock – Series II<br> *Adviser:* Invesco Advisers, Inc.<br>| 1.00% | 17.14% | 15.14% | 11.67% |
| Intermediate <br> Core-Plus Bond<br>| Invesco V.I. Core Plus Bond – Series II<br> *Adviser:* Invesco Advisers, Inc.<br>| 0.99% | &nbsp;&nbsp; 6.96% | -0.36% | &nbsp;&nbsp; 2.73% |
| Mid Cap Growth | Invesco V.I. Discovery Mid Cap Growth – Series II<br> *Adviser:* Invesco Advisers, Inc.<br>| 1.11% | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 3.64% | 11.10% |
| Balanced/Asset <br> Allocation<br>| Invesco V.I. Equity and Income – Series II<br> *Adviser:* Invesco Advisers, Inc.<br>| 0.82% | 12.52% | &nbsp;&nbsp; 8.68% | &nbsp;&nbsp; 8.64% |
| International <br> Equity<br>| Invesco V.I. EQV International Equity – Series II<br> *Adviser:* Invesco Advisers, Inc.<br>| 1.15% | 16.23% | &nbsp;&nbsp; 3.42% | &nbsp;&nbsp; 5.95% |
| Global Equity | Invesco V.I. Global – Series II<br> *Adviser:* Invesco Advisers, Inc.<br>| 1.06% | 15.02% | &nbsp;&nbsp; 7.01% | 10.72% |
| Specialty-Sector | Invesco V.I. Global Real Estate – Series I<br> *Adviser:* Invesco Advisers, Inc.<br>| 1.02% | &nbsp;&nbsp; 7.85% | &nbsp;&nbsp; 1.73% | &nbsp;&nbsp; 2.44% |
| Money Market | Invesco V.I. Government Money Market – Series II<br> *Adviser:* Invesco Advisers, Inc.<br>| 0.63% | &nbsp;&nbsp; 3.76% | &nbsp;&nbsp; 2.85% | &nbsp;&nbsp; 1.77% |
| Government <br> Bond<br>| Invesco V.I. Government Securities – Series II<br> *Adviser:* Invesco Advisers, Inc.<br>| 0.95% | &nbsp;&nbsp; 6.95% | -0.22% | &nbsp;&nbsp; 1.34% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment**<br> **Type** | **Fund**<br> **Adviser/Sub-Adviser** | **Current**<br> **Expenses**<sup>1</sup> | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** |
| **Investment**<br> **Type** | **Fund**<br> **Adviser/Sub-Adviser** | **Current**<br> **Expenses**<sup>1</sup> | **1 Year** | **5 Year** | **10 Year** |
| Specialty-Sector | Invesco V.I. Health Care – Series I<br> *Adviser:* Invesco Advisers, Inc.<br>| 0.99% | 15.33% | &nbsp;&nbsp; 3.80% | &nbsp;&nbsp; 6.58% |
| Mid Cap Blend | Invesco V.I. Main Street Mid Cap Fund<sup>®</sup> – Series II<br> *Adviser:* Invesco Advisers, Inc.<br>| 1.19% | &nbsp;&nbsp; 8.96% | &nbsp;&nbsp; 8.83% | &nbsp;&nbsp; 9.08% |
| Small Cap <br> Blend<br>| Invesco V.I. Main Street Small Cap Fund<sup>®</sup> – Series II<br> *Adviser:* Invesco Advisers, Inc.<br>| 1.09% | &nbsp;&nbsp; 8.44% | &nbsp;&nbsp; 8.07% | 10.31% |
| Mid Cap Growth | Janus Henderson VIT Enterprise – Service Class<br> *Adviser:* Janus Henderson Investors US LLC<br>| 0.97% | &nbsp;&nbsp; 7.41% | &nbsp;&nbsp; 7.35% | 12.51% |
| Large Cap <br> Growth<br>| Janus Henderson VIT Research – Service Class<br> *Adviser:* Janus Henderson Investors US LLC<br>| 1.07% | 18.10% | 13.83% | 15.59% |
| Multi-Sector <br> Bond<br>| Lord Abbett Series Bond-Debenture VC – Class VC<br> *Adviser:* Lord, Abbett & Co. LLC<br>| 0.98% | &nbsp;&nbsp; 8.33% | &nbsp;&nbsp; 2.10% | &nbsp;&nbsp; 4.72% |
| Small Cap <br> Growth<br>| Lord Abbett Series Developing Growth VC – Class VC<sup>2</sup> <br>*Adviser:* Lord, Abbett & Co. LLC<br>| 1.27% | 14.59% | -1.17% | 11.03% |
| Mid Cap Value | LVIP American Century Mid Cap Value – Service Class<br> *Adviser:* Lincoln Financial Investments Corporation<br> *Sub-Adviser:* American Century Investment <br> Management, Inc.<br>| 1.03% | &nbsp;&nbsp; 8.83% | &nbsp;&nbsp; 8.72% | &nbsp;&nbsp; 8.96% |
| Large Cap <br> Growth<br>| LVIP American Century Ultra – Service Class<br> *Adviser:* Lincoln Financial Investments Corporation<br> *Sub-Adviser:* American Century Investment <br> Management, Inc.<br>| 0.92% | 12.67% | 11.52% | 17.00% |
| Large Cap <br> Value<br>| LVIP American Century Value – Service Class<br> *Adviser:* Lincoln Financial Investments Corporation<br> *Sub-Adviser:* American Century Investment <br> Management, Inc.<br>| 0.90% | 15.85% | 11.47% | 10.07% |
| Intermediate <br> Core Bond<br>| LVIP JPMorgan Core Bond – Service Class<br> *Adviser:* Lincoln Financial Investments Corporation<br> *Sub-Adviser:* J.P. Morgan Investment Management, Inc.<br>| 0.99% | &nbsp;&nbsp; 7.15% | -0.29% | &nbsp;&nbsp; 1.85% |
| International <br> Equity<br>| MFS<sup>®</sup> VIT II Research International – Service Class<br> *Adviser:* Massachusetts Financial Services Company<br>| 1.22% | 21.75% | &nbsp;&nbsp; 5.25% | &nbsp;&nbsp; 7.27% |
| Balanced/Asset <br> Allocation<br>| MFS<sup>®</sup> VIT Total Return – Service Class<br> *Adviser:* Massachusetts Financial Services Company<br>| 0.96% | 10.91% | &nbsp;&nbsp; 6.16% | &nbsp;&nbsp; 7.36% |
| Specialty-Sector | MFS<sup>®</sup> VIT Utilities – Service Class<br> *Adviser:* Massachusetts Financial Services Company<br>| 1.04% | 14.76% | &nbsp;&nbsp; 7.38% | &nbsp;&nbsp; 9.22% |
| Emerging <br> Markets<br>| Morgan Stanley VIF Emerging Markets Equity – Class II<br> *Adviser:* Morgan Stanley Investment Management, Inc.<br> *Sub-Adviser:* Morgan Stanley Investment Management <br> Company<br>| 1.53% | 32.90% | &nbsp;&nbsp; 4.32% | &nbsp;&nbsp; 7.21% |
| Asset <br> Allocation/<br> Lifestyle<br>| Morningstar Aggressive Growth ETF Asset Allocation <br> Portfolio – Class II<br> *Adviser:* ALPS Advisors, Inc.<br> *Sub-Adviser:* Morningstar Investment Management LLC<br>| 0.85% | 20.00% | 10.55% | 10.36% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment**<br> **Type** | **Fund**<br> **Adviser/Sub-Adviser** | **Current**<br> **Expenses**<sup>1</sup> | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** |
| **Investment**<br> **Type** | **Fund**<br> **Adviser/Sub-Adviser** | **Current**<br> **Expenses**<sup>1</sup> | **1 Year** | **5 Year** | **10 Year** |
| Asset <br> Allocation/<br> Lifestyle<br>| Morningstar Balanced ETF Asset Allocation Portfolio – <br> Class II<br> *Adviser:* ALPS Advisors, Inc.<br> *Sub-Adviser:* Morningstar Investment Management LLC<br>| 0.84% | 14.82% | &nbsp;&nbsp; 6.61% | &nbsp;&nbsp; 7.25% |
| Asset <br> Allocation/<br> Lifestyle<br>| Morningstar Conservative ETF Asset Allocation Portfolio <br> – Class II<br> *Adviser:* ALPS Advisors, Inc.<br> *Sub-Adviser:* Morningstar Investment Management LLC<br>| 0.93% | &nbsp;&nbsp; 8.82% | &nbsp;&nbsp; 2.19% | &nbsp;&nbsp; 3.50% |
| Asset <br> Allocation/<br> Lifestyle<br>| Morningstar Growth ETF Asset Allocation Portfolio – <br> Class II<br> *Adviser:* ALPS Advisors, Inc.<br> *Sub-Adviser:* Morningstar Investment Management LLC<br>| 0.82% | 17.91% | &nbsp;&nbsp; 8.82% | &nbsp;&nbsp; 9.05% |
| Asset <br> Allocation/<br> Lifestyle<br>| Morningstar Income and Growth ETF Asset Allocation <br> Portfolio – Class II<br> *Adviser:* ALPS Advisors, Inc.<br> *Sub-Adviser:* Morningstar Investment Management LLC<br>| 0.88% | 11.70% | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 5.46% |
| Multi Cap Value | NAA All Cap Value Series<br> *Adviser:* New Age Alpha Advisors, LLC<br>| 1.15% | 12.87% | 11.12% | 10.40% |
| Large Cap <br> Value<br>| NAA Large Cap Value Series<br> *Adviser:* New Age Alpha Advisors, LLC<br>| 1.05% | 14.16% | 12.15% | 10.88% |
| Large Cap <br> Blend<br>| NAA Large Core Series<br> *Adviser:* New Age Alpha Advisors, LLC<br>| 1.16% | 16.43% | 13.65% | 14.25% |
| Large Cap <br> Growth<br>| NAA Large Growth Series<br> *Adviser:* New Age Alpha Advisors, LLC<br>| 1.17% | 17.02% | 13.89% | 17.04% |
| Mid Cap Growth | NAA Mid Growth Series<br> *Adviser:* New Age Alpha Advisors, LLC<br>| 1.18% | &nbsp;&nbsp; 2.17% | &nbsp;&nbsp; 4.48% | 10.63% |
| Small Cap <br> Value<br>| NAA Small Cap Value Series<br> *Adviser:* New Age Alpha Advisors, LLC<br>| 1.29% | &nbsp;&nbsp; 3.30% | &nbsp;&nbsp; 8.47% | &nbsp;&nbsp; 7.65% |
| Small Cap <br> Growth<br>| NAA Small Growth Series<br> *Adviser:* New Age Alpha Advisors, LLC<br>| 1.42% | &nbsp;&nbsp; 6.58% | &nbsp;&nbsp; 2.59% | &nbsp;&nbsp; 8.89% |
| Mid Cap Value | NAA SMid-Cap Value Series<br> *Adviser:* New Age Alpha Advisors, LLC<br>| 1.18% | &nbsp;&nbsp; 7.35% | &nbsp;&nbsp; 9.30% | &nbsp;&nbsp; 9.97% |
| Global Equity | NAA World Equity Income Series<br> *Adviser:* New Age Alpha Advisors, LLC<br>| 1.18% | 22.75% | 11.42% | &nbsp;&nbsp; 9.99% |
| Specialty | Neuberger Berman Quality Equity Portfolio – Class S<br> *Adviser:* Neuberger Berman Investment Advisers LLC<br>| 1.12% | 13.43% | 12.54% | 12.66% |
| Global <br> Allocation<br>| Nomura VIP Asset Strategy - Service Class<br> *Adviser:* Delaware Management Company<br>| 1.04% | 16.66% | &nbsp;&nbsp; 7.07% | &nbsp;&nbsp; 7.84% |
| Specialty | PIMCO VIT All Asset – Administrative Class<br> *Adviser:* Pacific Investment Management Company LLC<br> *Sub-Adviser:* Research Affiliates LLC<br>| 2.22% | 14.20% | &nbsp;&nbsp; 5.60% | &nbsp;&nbsp; 6.77% |
| Specialty-Sector | PIMCO VIT CommodityRealReturn Strategy – Adminis-<br> trative Class<br> *Adviser:* Pacific Investment Management Company LLC<br>| 3.38% | 18.79% | 10.55% | &nbsp;&nbsp; 6.54% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment**<br> **Type** | **Fund**<br> **Adviser/Sub-Adviser** | **Current**<br> **Expenses**<sup>1</sup> | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** | **Average Annual**<br> **Total Returns**<br> **(as of 12/31/2025)** |
| **Investment**<br> **Type** | **Fund**<br> **Adviser/Sub-Adviser** | **Current**<br> **Expenses**<sup>1</sup> | **1 Year** | **5 Year** | **10 Year** |
| Emerging <br> Markets Bond<br>| PIMCO VIT Emerging Markets Bond – Advisor Class<br> *Adviser:* Pacific Investment Management Company LLC<br>| 1.27% | 14.86% | &nbsp;&nbsp; 2.34% | &nbsp;&nbsp; 4.96% |
| International <br> Bond<br>| PIMCO VIT International Bond Portfolio (U.S. <br> Dollar-Hedged) – Administrative Class<br> *Adviser:* Pacific Investment Management Company LLC<br>| 1.09% | &nbsp;&nbsp; 3.95% | &nbsp;&nbsp; 1.03% | &nbsp;&nbsp; 2.88% |
| Short Term <br> Bond<br>| PIMCO VIT Low Duration – Administrative Class<br> *Adviser:* Pacific Investment Management Company LLC<br>| 0.66% | &nbsp;&nbsp; 5.52% | &nbsp;&nbsp; 1.57% | &nbsp;&nbsp; 1.79% |
| Inflation-<br> Protected Bond<br>| PIMCO VIT Real Return – Administrative Class<br> *Adviser:* Pacific Investment Management Company LLC<br>| 1.39% | &nbsp;&nbsp; 7.85% | &nbsp;&nbsp; 1.21% | &nbsp;&nbsp; 3.21% |
| Intermediate <br> Term Bond<br>| PIMCO VIT Total Return – Advisor Class<br> *Adviser:* Pacific Investment Management Company LLC<br>| 0.83% | &nbsp;&nbsp; 8.78% | -0.08% | &nbsp;&nbsp; 2.26% |
| Small Cap <br> Value<br>| Putnam VT Small Cap Value – Class IB<br> *Adviser:* Putnam Investment Management, LLC<br> *Sub-Adviser:* Franklin Advisers, Inc.; Franklin Templeton <br> Investment Management Limited<br>| 1.02% | &nbsp;&nbsp; 5.27% | 10.99% | &nbsp;&nbsp; 9.13% |
| Small Cap <br> Blend<br>| Royce Micro-Cap – Investment Class<br> *Adviser:* Royce & Associates, LP<br>| 1.22% | 13.89% | &nbsp;&nbsp; 9.17% | 10.14% |
| Specialty-Sector | T. Rowe Price Health Sciences – Class II<br> *Adviser:* T. Rowe Price Associates, Inc.<br>| 1.11% | 17.80% | &nbsp;&nbsp; 3.86% | &nbsp;&nbsp; 8.70% |
| Emerging <br> Markets<br>| Templeton Emerging Markets VIP Fund – Class 2<br> *Adviser:* Templeton Asset Management Ltd<br> *Sub-Adviser:* Franklin Templeton Investment <br> Management Limited<br>| 1.37% | 46.27% | &nbsp;&nbsp; 5.46% | 10.40% |
| Global Bond | Templeton Global Bond VIP Fund – Class 2<br> *Adviser:* Franklin Advisers, Inc.<br>| 0.78% | 15.73% | -0.96% | -0.15% |
| High Yield Bond | Western Asset Variable Global High Yield Bond – Class <br> II<br> *Adviser:* Franklin Templeton Fund Adviser, LLC<br> *Sub-Adviser:* Western Asset Management Company, <br> LLC; Western Asset Management Company Limited <br> (London); Western Asset Management Company Pte. <br> Ltd. (Singapore)<br>| 1.06% | &nbsp;&nbsp; 9.95% | &nbsp;&nbsp; 2.34% | &nbsp;&nbsp; 5.09% |
| &nbsp;&nbsp;&nbsp;&nbsp; 1<br> Certain Investment Portfolios and their investment advisers have entered into temporary expense reimbursement and/or fee waivers. Please <br> see the Investment Portfolios' prospectuses for additional information regarding these arrangements | &nbsp;&nbsp;&nbsp;&nbsp; 1<br> Certain Investment Portfolios and their investment advisers have entered into temporary expense reimbursement and/or fee waivers. Please <br> see the Investment Portfolios' prospectuses for additional information regarding these arrangements | &nbsp;&nbsp;&nbsp;&nbsp; 1<br> Certain Investment Portfolios and their investment advisers have entered into temporary expense reimbursement and/or fee waivers. Please <br> see the Investment Portfolios' prospectuses for additional information regarding these arrangements | &nbsp;&nbsp;&nbsp;&nbsp; 1<br> Certain Investment Portfolios and their investment advisers have entered into temporary expense reimbursement and/or fee waivers. Please <br> see the Investment Portfolios' prospectuses for additional information regarding these arrangements | &nbsp;&nbsp;&nbsp;&nbsp; 1<br> Certain Investment Portfolios and their investment advisers have entered into temporary expense reimbursement and/or fee waivers. Please <br> see the Investment Portfolios' prospectuses for additional information regarding these arrangements | &nbsp;&nbsp;&nbsp;&nbsp; 1<br> Certain Investment Portfolios and their investment advisers have entered into temporary expense reimbursement and/or fee waivers. Please <br> see the Investment Portfolios' prospectuses for additional information regarding these arrangements |
| &nbsp;&nbsp;&nbsp;&nbsp; 2<br> This fund is no longer available for new transfers. | &nbsp;&nbsp;&nbsp;&nbsp; 2<br> This fund is no longer available for new transfers. | &nbsp;&nbsp;&nbsp;&nbsp; 2<br> This fund is no longer available for new transfers. | &nbsp;&nbsp;&nbsp;&nbsp; 2<br> This fund is no longer available for new transfers. | &nbsp;&nbsp;&nbsp;&nbsp; 2<br> This fund is no longer available for new transfers. | &nbsp;&nbsp;&nbsp;&nbsp; 2<br> This fund is no longer available for new transfers. |

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**Fixed Option —** The following is a list of Fixed Options currently available under the Contract. We may change the features of the Fixed Options listed below, offer new Fixed Options, and terminate existing Fixed Options. We will provide you with written notice before doing so. Depending on the optional benefits you choose, you may not be able to invest in the Fixed Options, as noted below.

See "The Fixed Account" in the prospectus for a description of the Fixed Investment Options' features.

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| | | |
|:---|:---|:---|
| **Name** | **Term** | **Minimum Guaranteed Interest Rate** |
| Fixed Account | Not applicable | 1% |
| DCA Plus Account | 6-months or 12-months | 1% |

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**Optional Rider Investment Restrictions**

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If you have elected one of the optional riders listed in the table below, your Contract is subject to investment allocation restrictions. Depending on the optional riders you choose, you may not be able to invest in certain Underlying Funds or the Fixed Account. In addition, other investment restrictions may apply, as shown below.

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| | |
|:---|:---|
| **Riders Currently Available** | **Riders Currently Available** |
| **Rider** | **Investment Restrictions** |
| Extra Credit at 4% | Fixed Account not available as an investment option |
| 0-Year or 4-Year Alternate <br> Withdrawal Charge<br> (The 3-Year Alternate <br> Withdrawal Charge in states <br> where the 4-Year Alternate <br> Withdrawal Charge is not <br> approved)<br>| Fixed Account not available as an investment option |

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The Prospectus and Statement of Additional Information (SAI) are parts of the registration statement that we filed with the Securities and Exchange Commission (SEC), dated May 1, 2026. Both documents contain additional important information about the Contract. The Prospectus and SAI are incorporated herein by reference, which means they are legally a part of this Initial Summary Prospectus.

The SAI may be obtained, free of charge, from us in the same manner as the Prospectus, as described on the front page of this Initial Summary Prospectus.

The SEC maintains a website (http://www.sec.gov) that contains the registration statement, material incorporated by reference, and other information regarding companies that file electronically with the SEC. Copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

EDGAR contract identifier C000029048

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