Supplement dated February 29, 2024
to the following statutory prospectus(es):
Nationwide Innovator Corporate VUL dated May 1, 2023
This supplement updates certain information contained in your statutory prospectus. Please read and retain this supplement for future reference. |
The Boards of Directors (the "Board") of American Century Variable Portfolios, Inc. and American Century Variable Portfolios II, Inc. (the "Board"), approved the merger of the following Target Funds (the "Target Fund") into the Lincoln Variable Insurance Products Trust (the "Acquiring Fund"). Subject to shareholder approval, the merger will be effective on or about April 26, 2024 (the "Effective Date").
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American Century Variable Portfolios II, Inc. - American Century VP Inflation Protection Fund: Class I |
Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Standard Class II |
American Century Variable Portfolios, Inc. - American Century VP Value Fund: Class I |
Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II |
As of the Effective Date, the following changes apply to the contract/policy:
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the Target Fund will no longer be available to receive transfers or new purchase payments;
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the Target Fund will transfer all or substantially all of its assets to the Acquiring Fund in exchange for shares of the Acquiring Fund; and
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the Acquiring Fund will assume all liabilities of the Target Fund.
Accordingly, the following changes apply to the prospectus:
(1) Appendix A is amended to add the following:
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Underlying Mutual Fund and Adviser/Subadviser |
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Average Annual Total Returns (as of December 31, 2023) |
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Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Standard Class II Investment Advisor: Lincoln Financial Investments Corporation Investment Sub-Advisor: American Century Investment Management, Inc. |
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Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II Investment Advisor: Lincoln Financial Investments Corporation Investment Sub-Advisor: American Century Investment Management, Inc. |
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This underlying mutual fund’s current expenses reflect a temporary fee reduction.
(2) All references in the prospectus to the Target Fund are deleted and replaced with the Acquiring Fund.