|
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
|
0.45%1
|
0.45%1
|
||
Base Contract – Guaranteed Withdrawal
Benefit
|
0.90%2
|
2.00%2
|
||
Investment options (fund fees and
expenses)
|
0.59%1
|
0.76%1
|
||
1 As a percentage of average Account Value in the Subaccounts.
|
||||
2As a percentage of the Income Base.
|
||||
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: $1,271
|
Highest Annual Cost: $3,489
|
|
|
|
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
|
•You can lose money by investing in this Contract, including loss of principal.
|
•Principal Risks
•Investments of
the Variable
Annuity
Account
|
||
Not a Short-Term
Investment
|
•This Contract is not designed for short-term investing and may not be appropriate for
the investor who needs ready access to cash.
•The benefits of tax deferral, long-term income, and living benefit protections also
mean the Contract is more beneficial to investors with a long-term investment
horizon.
|
•Principal Risks
•Surrender and
Withdrawals
•Fee Tables
|
|
RISKS
|
Location in
Prospectus
|
||
Risks Associated
with Investment
Options
|
•An investment in this Contract is subject to the risk of poor investment performance
of the investment options you choose. Performance can vary depending on the
performance of the investment options available under the Contract.
•Each investment option has its own unique risks.
•You should review the investment options before making an investment decision.
|
•Principal Risks
•Investments of
the Variable
Annuity
Account
|
||
Insurance
Company Risks
|
•An investment in the Contract is subject to the risks related to us. Any obligations,
guarantees, or benefits of the Contract are subject to our claims-paying ability. If we
experience financial distress, we may not be able to meet our obligations to you.
More information about Lincoln Life, including our financial strength ratings, is
available upon request by calling 1-800-454-6265 or visiting
www.LincolnFinancial.com.
|
•Principal Risks
|
||
|
RESTRICTIONS
|
Location in
Prospectus
|
||
Investments
|
•We reserve the right to remove or substitute any funds as investment options that
are available under the Contract.
|
•Principal Risks
•Investments of
the Variable
Annuity
Account
|
||
|
TAXES
|
Location in
Prospectus
|
||
Tax Implications
|
•Consult with a tax professional to determine the tax implications of an investment in
and payments received under this Contract.
•If you purchase the Contract through a tax-qualified plan or IRA, you do not get any
additional tax deferral under the Contract.
•Earnings on your Contract are taxed at ordinary income tax rates when you withdraw
them, and you may have to pay a penalty if you take a withdrawal before age 59½.
|
•Federal Tax
Matters
|
||
|
CONFLICTS OF INTEREST
|
Location in
Prospectus
|
||
Investment
Professional
Compensation
|
•Your financial professional may receive compensation for selling this Contract to you,
in the form of commissions, additional cash benefits (e.g., bonuses), and non-cash
compensation. We may share the revenue we earn on this Contract with your
investment professional’s firm.
•This potential conflict of interest may influence your financial professional to
recommend this Contract over another investment for which the investment
professional is not compensated or compensated less.
|
•Distribution of
the Contracts
•Principal Risks
|
||
Exchanges
|
•You should only exchange your contract if you determine, after comparing the
features, fees, and risks of both contracts, that it is better for you to purchase the
new Contract rather than continue to own your existing contract.
|
•N/A
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2022)
|
||
|
|
|
1 year
|
5 year
|
10 year
|
A balance between a high level of current
income and growth of capital. A fund of
funds.
|
LVIP American Global Balanced
Allocation Managed Risk Fund - Standard
Class
|
0.59%
|
-15.53%
|
2.78%
|
4.64%
|
A balance between a high level of current
income and growth of capital, with an
emphasis on growth of capital. A fund of
funds.
|
LVIP Global Moderate Allocation
Managed Risk Fund - Standard Class
|
0.74%2
|
-17.38%
|
1.11%
|
3.56%
|