<SEC-DOCUMENT>0001193125-16-563296-index.html : 20160428
<SEC-HEADER>0001193125-16-563296.hdr.sgml : 20160428
<ACCEPTANCE-DATETIME>20160428151316
ACCESSION NUMBER:		0001193125-16-563296
CONFORMED SUBMISSION TYPE:	497K
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20160428
DATE AS OF CHANGE:		20160428
EFFECTIVENESS DATE:		20160428

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ivy Funds Variable Insurance Portfolios
		CENTRAL INDEX KEY:			0000810016
		IRS NUMBER:				481146010
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497K
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-11466
		FILM NUMBER:		161599492

	BUSINESS ADDRESS:	
		STREET 1:		6300 LAMAR AVENUE
		CITY:			OVERLAND PARK
		STATE:			KS
		ZIP:			66202
		BUSINESS PHONE:		9132362000

	MAIL ADDRESS:	
		STREET 1:		P O BOX 29217
		CITY:			SHAWNEE MISSION
		STATE:			KS
		ZIP:			66201-9217

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ivy Funds Variable Insurance Portfolios, Inc.
		DATE OF NAME CHANGE:	20080819

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	W&R TARGET FUNDS INC
		DATE OF NAME CHANGE:	20001026

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TARGET UNITED FUNDS INC
		DATE OF NAME CHANGE:	19990506
<SERIES-AND-CLASSES-CONTRACTS-DATA>
<EXISTING-SERIES-AND-CLASSES-CONTRACTS>
<SERIES>
<OWNER-CIK>0000810016
<SERIES-ID>S000041732
<SERIES-NAME>Ivy Funds VIP Pathfinder Moderate - Managed Volatility
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000129560
<CLASS-CONTRACT-NAME>SAME
</CLASS-CONTRACT>
</SERIES>
</EXISTING-SERIES-AND-CLASSES-CONTRACTS>
</SERIES-AND-CLASSES-CONTRACTS-DATA>
</SEC-HEADER>
<DOCUMENT>
<TYPE>497K
<SEQUENCE>1
<FILENAME>d142680d497k.htm
<DESCRIPTION>IVY FUNDS VIP PATHFINDER MODERATE-MANAGED VOLATILITY SUMMARY PROSPECTUS
<TEXT>
Document 1 - file: d142680d497k.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g120504g06t21.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 2 - file: g120504g06t21.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g120504g76x60.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 3 - file: g120504g76x60.jpg

</DOCUMENT>
</SEC-DOCUMENT>