|
FEES AND EXPENSES |
Location in
Prospectus |
Charges for Early
Withdrawals |
There are no surrender charges associated with this Contract. |
•N/A |
Transaction
Charges |
There are no sales charges associated with this Contract. |
•N/A |
Ongoing Fees and
Expenses (annual
charges) |
Minimum and Maximum Annual Fee Table. The table below describes the fees and
expenses that you may pay each year, depending on the options you choose. 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. |
•Fee Tables •Examples •Charges and
Other
Deductions | ||
Annual Fee |
Minimum |
Maximum | ||
Base Contract |
|
| ||
Base Contract – Guaranteed Withdrawal
Benefit |
|
| ||
Investment options (fund fees and
expenses) |
|
| ||
1 | ||||
2 | ||||
Lowest and Highest Annual Cost Table. Because your Contract is customizable, the
choices you make affect how much you will pay. To help you understand the cost of
owning your Contract, the following table shows the lowest and highest cost you could
pay each year, based on current charges. This estimate assumes that you do not take
withdrawals from the Contract. |
|
Lowest Annual Cost: $1,500 |
Highest Annual Cost: $3,673 |
| |
|
Assumes: |
Assumes: |
| |
|
•Investment of $100,000 •5% annual appreciation •Least expensive fund fees and
expenses •No additional Purchase Payments,
transfers, or withdrawals |
•Investment of $100,000 •5% annual appreciation •Most expensive fund fees and expenses •No additional Purchase Payments,
transfers, or withdrawals |
|
|
RISKS |
Location in
Prospectus | ||
Risk of Loss |
• |
•Principal Risks •Investments of
the Variable
Annuity
Account | ||
Not a Short-Term
Investment |
|
•Principal Risks •Surrender and
Withdrawals •Fee Tables |
|
RISKS |
Location in
Prospectus |
Risks Associated
with Investment
Options |
|
•Principal Risks •Investments of
the Variable
Annuity
Account | ||
Insurance
Company Risks |
•
|
•Principal Risks |
|
RESTRICTIONS |
Location in
Prospectus | ||
Investments |
|
•Principal Risks •Investments of
the Variable
Annuity
Account | ||
|
TAXES |
Location in
Prospectus | ||
Tax Implications |
|
•Federal Tax
Matters | ||
|
CONFLICTS OF INTEREST |
Location in
Prospectus | ||
Investment
Professional
Compensation |
|
•Distribution of
the Contracts •Principal Risks | ||
Exchanges |
•
|
•N/A |
There are |
|
Base Contract Expense (as a percentage of average Account Value in the Subaccount) |
|
|
Base Contract Expense |
|
|
|
|
|
Guaranteed Withdrawal Benefit1
|
|
|
Guaranteed Maximum Annual Charge |
|
|
Current Annual Charge |
|
|
Annual Fund Expenses |
Minimum |
Maximum |
|
|
|
Expenses that are deducted from the fund assets, including
management fees, distribution and/or service (12b-1) fees, and other
expenses after any waivers or expense reimbursements.1 |
0.59% |
0.74% |
1 year |
3 years |
5 years |
10 years |
$ |
$ |
$ |
$ |
1 year |
3 years |
5 years |
10 years |
$ |
$ |
$ |
$ |
Base Contract Expense |
0.65% |
| |||
|
|
Maximum Fee |
|
|
|
• |
|
|
Contract Value |
Income Base |
Initial Purchase Payment $50,000 |
$50,000 |
$50,000 |
Valuation Date immediately prior to 1st Benefit Year anniversary |
$54,000 |
$54,000 |
Valuation Date immediately prior to 2nd Benefit Year anniversary |
$53,900 |
$54,000 |
Valuation Date immediately prior to 3rd Benefit Year anniversary |
$57,000 |
$57,000 |
Valuation Date immediately prior to 4th Benefit Year anniversary |
$64,000 |
$64,000 |
Age |
Guaranteed
Annual Income amount
percentage (Single Life Option) |
Guaranteed Annual Income
amount percentage
(Joint Life Option) |
At Least 55 and under 65 |
4% |
3.5% |
65-70 |
5% |
4.5% |
71+ |
6% |
5.5% |
Participant Account Value on the Guaranteed Annual Income
Effective Date |
$200,000 |
Income Base on the Guaranteed Annual Income Effective Date |
$200,000 |
Initial Guaranteed Annual Income amount on the Guaranteed
Annual Income Effective Date ($200,000 x 4%) |
$8,000 |
Participant Account Value six months after Guaranteed Annual
Income Effective Date |
$210,000 |
Income Base six months after Guaranteed Annual Income Effective
Date |
$200,000 |
Withdrawal six months after Guaranteed Annual Income Effective
Date when Participant is still age 58 |
$8,000 |
Participant Account Value after withdrawal ($210,000 - $8,000) |
$202,000 |
Income Base after withdrawal ($200,000 - $0) |
$200,000 |
Participant Account Value on next Benefit Year anniversary |
$205,000 |
Income Base on next Benefit Year anniversary |
$205,000 |
Guaranteed Annual Income amount on next Benefit Year
anniversary |
$8,200 |
Total Purchase Payment during Year 1 (Table 1 in effect) |
$5,000 |
Automatic Step-Up of Income Base to market value on Benefit Year anniversary |
$5,900 |
Total Purchase Payments during Year 2 (Table 2 in effect) |
$5,000 |
Market loss so no Automatic Step-Up on Benefit Year anniversary |
$10,900 |
|
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2022) | ||
|
|
|
1 year |
5 year |
10 year |
|
|
|
- |
|
|
|
|
|
- |
|
|
Contents
|
Page
|
B-3
|
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B-4
|
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B-4
|
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B-4
|
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B-4
|
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B-5
|
|
B-5
|
Name
|
Positions and Offices with Depositor
|
Craig T. Beazer*
|
Executive Vice President, General Counsel and Director
|
Jayson R. Bronchetti*
|
Executive Vice President, Chief Investment Officer and Director
|
Adam M. Cohen*
|
Senior Vice President and Chief Accounting Officer
|
Ellen G. Cooper*
|
President and Director
|
Stephen B. Harris*
|
Senior Vice President and Chief Ethics and Compliance Officer
|
Shantanu Mishra*
|
Senior Vice President and Treasurer
|
Christopher M. Neczypor*
|
Executive Vice President, Chief Financial Officer and Director
|
Nancy A. Smith*
|
Senior Vice President and Secretary
|
Joseph D. Spada**
|
Vice President and Chief Compliance Officer for Separate Accounts
|
Eric B. Wilmer***
|
Assistant Vice President and Director
|
Name
|
Positions and Offices with Underwriter
|
Andrew J. Bucklee*
|
Senior Vice President and Director
|
Jason M. Gibson**
|
Vice President and Chief Compliance Officer
|
Claire H. Hanna*
|
Secretary
|
John C. Kennedy*
|
President, Chief Executive Officer and Director
|
Shantanu Mishra*
|
Senior Vice President and Treasurer
|
William A. Nash***
|
Senior Vice President and Director
|
Thomas P. O'Neill*
|
Senior Vice President, Chief Operating Officer and Head of Financial
Institutions Group
|
Timothy J. Seifert Sr*
|
Senior Vice President and Director
|
SIGNATURES
(a) | As required by the Securities Act of 1933 and the Investment Company Act of 1940, each Registrant certifies that it meets the requirements of Securities Act Rule 485(b) for effectiveness of these registration statements and has caused these Post-Effective Amendments to the registration statements to be signed on its behalf, in the City of Fort Wayne, and the State of Indiana on this 9th day of April, 2023 at 1:40 pm. |
Lincoln National Variable Annuity Account C
Lincoln National Variable Annuity Account L
Lincoln Life Variable Annuity Account Q
(Registrants)
By: | /s/ John D. Weber | ||
John D. Weber | |||
Vice President, The Lincoln National Life Insurance Company |
Signed on its behalf, in the City of Hartford, and the State of Connecticut on this 6th day of April, 2023 at 2:30 pm.
The Lincoln National Life Insurance Company
(Depositor)
By: | /s/ Matthew L. Condos | ||
Matthew L. Condos | |||
(Signature-Officer of Depositor) | |||
Senior Vice President, The Lincoln National Life Insurance Company |
Lincoln National Variable Annuity Account C (File No. 811-03214; CIK: 0000353894)
033-25990 (Amendment No. 67) | 333-179107 (Amendment No. 16) |
333-112927 (Amendment No. 32) | 333-267957 (Amendment No. 2) |
Lincoln National Variable Annuity Account L (File No. 811-07645; CIK: 0001015434)
333-04999 (Amendment No. 37) | 333-187069 (Amendment No. 13) | 333-187070 (Amendment No. 13) |
333-187071 (Amendment No. 13) | 333-187072 (Amendment No. 13) | 333-198911 (Amendment No. 10) |
333-198912 (Amendment No. 10) | 333-198913 (Amendment No. 10) | 333-198914 (Amendment No. 10) |
Lincoln Life Variable Annuity Account Q (File No. 811-08569; CIK: 0001048604)
333-43373 (Amendment No. 32) |
(b) As required by the Securities Act of 1933, these Amendments to the registration statements have been signed by the following persons in their capacities indicated on April 9, 2023 at 1:40 pm.
Signature | Title | |
*/s/ Ellen G. Cooper | President and Director | |
Ellen G. Cooper | (Principal Executive Officer) | |
* /s/ Randal J. Freitag | Executive Vice President, Chief Financial Officer, and Director | |
Randal J. Freitag | (Principal Financial Officer) | |
* /s/ Craig T. Beazer | Executive Vice President and Director | |
Craig T. Beazer |
* /s/ Jayson R. Bronchetti | Executive Vice President, Chief Investment Officer, and Director | |
Jayson R. Bronchetti | ||
* /s/ Adam M. Cohen | Senior Vice President and Chief Accounting Officer | |
Adam M. Cohen | (Principal Accounting Officer) | |
*/s/ Eric B. Wilmer | Assistant Vice President and Director | |
Eric B. Wilmer |
* By | /s/ John D. Weber | , Pursuant to a Power of Attorney |
John D. Weber |