0001193125-19-282193.txt : 20191104 0001193125-19-282193.hdr.sgml : 20191104 20191101185308 ACCESSION NUMBER: 0001193125-19-282193 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20191104 DATE AS OF CHANGE: 20191101 EFFECTIVENESS DATE: 20191104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ivy Variable Insurance Portfolios CENTRAL INDEX KEY: 0000810016 IRS NUMBER: 481146010 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-11466 FILM NUMBER: 191187950 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 DATE OF NAME CHANGE: 20100301 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 0000810016 S000006224 Ivy VIP Asset Strategy C000017158 Class II C000190645 Class I 0000810016 S000006225 Ivy VIP International Core Equity C000017159 Class II 0000810016 S000006228 Ivy VIP Mid Cap Growth C000017162 Class II C000190647 Class I 0000810016 S000006229 Ivy VIP Government Money Market C000017163 Class II 0000810016 S000006231 Ivy VIP Securian Real Estate Securities C000017165 Class II 0000810016 S000006232 Ivy VIP Science and Technology C000017166 Class II C000190648 Class I 0000810016 S000006233 Ivy VIP Small Cap Growth C000017167 Class II C000203521 Class I 0000810016 S000006234 Ivy VIP Small Cap Core C000017168 Class II 0000810016 S000006235 Ivy VIP Balanced C000017169 Class II 0000810016 S000006236 Ivy VIP Value C000017170 Class II 0000810016 S000006237 Ivy VIP Corporate Bond C000017171 Class II 0000810016 S000006238 Ivy VIP Core Equity C000017172 Class II 0000810016 S000006239 Ivy VIP Global Equity Income C000017173 Class II 0000810016 S000006240 Ivy VIP Natural Resources C000017174 Class II 0000810016 S000006241 Ivy VIP Growth C000017175 Class II 0000810016 S000006242 Ivy VIP High Income C000017176 Class II C000190649 Class I 0000810016 S000006243 Ivy VIP Global Growth C000017177 Class II 0000810016 S000011749 Ivy VIP Energy C000032174 Class II C000190650 Class I 0000810016 S000020588 Ivy VIP Pathfinder Aggressive C000057543 Class II 0000810016 S000020589 Ivy VIP Pathfinder Moderately Aggressive C000057544 Class II 0000810016 S000020590 Ivy VIP Pathfinder Moderate C000057545 Class II 0000810016 S000020591 Ivy VIP Pathfinder Moderately Conservative C000057546 Class II 0000810016 S000020592 Ivy VIP Pathfinder Conservative C000057547 Class II 0000810016 S000029765 Ivy VIP Global Bond C000091475 Class II 0000810016 S000029766 Ivy VIP Limited-Term Bond C000091476 Class II 0000810016 S000041732 Ivy VIP Pathfinder Moderate - Managed Volatility C000129560 Class II 0000810016 S000041733 Ivy VIP Pathfinder Moderately Aggressive - Managed Volatility C000129561 Class II 0000810016 S000041734 Ivy VIP Pathfinder Moderately Conservative - Managed Volatility C000129562 Class II 497 1 d796669d497.htm IVY VIP PROSPECTUS SUPPLEMENT Ivy VIP Prospectus Supplement

Ivy Variable Insurance Portfolios

Supplement dated November 4, 2019 to the

Ivy Variable Insurance Portfolios Prospectus

dated April 30, 2019

as supplemented July 31, 2019

The following replaces the first bullet point of the “Buying and Selling Portfolio Shares — Net Asset Value” section:

 

∎  

Securities traded on an exchange held by the Portfolio ordinarily are valued by an independent pricing service at their closing price as reported by the principal securities exchange on which the securities are traded.

The following replaces the “Buying and Selling Portfolio Shares — Selling Shares — Potential Conflicts of Interest” section:

Potential Conflicts of Interest

The Distributor of the Portfolios, IDI, is a corporate affiliate of Waddell & Reed, Inc. (Waddell & Reed). The Portfolios are included as investment options in Policies offered by Waddell & Reed. The following paragraphs disclose certain potential conflicts of interest in connection with the offering of the Policies by Waddell & Reed.

A portion of the mutual fund shares sold by Waddell & Reed financial advisors are from the Portfolios. IICO manages the assets of the Portfolios and earns investment advisory fees for providing these investment management services. These fees are assessed daily on the net assets held by the Portfolios and are paid to IICO out of Portfolios assets. IDI and/or Waddell & Reed serve as the principal underwriter and distributor of various mutual funds (Fund Families). Companies affiliated with Waddell & Reed (“Service Affiliates”) also serve as shareholder servicing agent and accounting services agent for the Portfolios and the Fund Families and as custodian for certain retirement plan accounts available through Waddell & Reed and other third parties. The Service Affiliates receive fees for the services they provide to the Portfolios and/or owners of the Policies. Waddell & Reed, IDI, IICO and the Service Affiliates are subsidiaries of Waddell & Reed Financial, Inc.

Waddell & Reed financial advisors are not required to sell only shares of the funds in the Fund Families, have no sales quotas with respect to the Portfolios or Policies and receive the same percentage rate of compensation for all shares of mutual funds and variable insurance policies they sell, including shares of the funds in the Fund Families and the Policies.

Increased sales of shares of the Fund Families and Portfolios generally result in greater revenues, and greater profits, to Waddell & Reed, IDI, IICO and the Service Affiliates, since payments to Waddell & Reed, IDI, IICO and the Service Affiliates increase as more assets are invested in the Fund Families and Portfolios and/or more fund accounts are established. Waddell & Reed employee compensation (including management) and operating goals at all levels are tied to Waddell & Reed’s overall profitability. At times, this may result in more training and product support for Waddell & Reed financial advisors to assist them with sales of shares of the Fund Families and Portfolios, which may influence the Waddell & Reed financial advisor’s decision to recommend the Fund Families and Portfolios.

The following replaces the “Buying and Selling Portfolio Shares — Selling Shares — Portability” section:

Certain of the Policies in which the Portfolios are available as investment options (e.g., Policies issued by Nationwide and Minnesota Life) are available for sale only through Waddell & Reed financial advisors. Waddell & Reed financial advisors have no sales quotas with respect to these Policies and may offer and sell other mutual funds and variable insurance policies. The Policies may be sold only by Waddell & Reed financial advisors and the Policies generally may be assigned only by the Participating Insurance Companies for servicing only to a broker-dealer or other financial intermediary (“Financial Intermediary”) if the Financial Intermediary has entered into a servicing agreement with the Participating Insurance Companies that permits the Financial Intermediary to be assigned as agent-of-record and service the Policies. Therefore, if you elect to purchase a Policy that is only available through your Waddell & Reed financial advisor, you should consider that you may need to liquidate the Policy, which may cause adverse tax consequences, if you later decide to transfer your investment to another Financial Intermediary in the event your financial advisor leaves Waddell & Reed or for other reasons and the Financial Intermediary is not a party to a servicing agreement with the applicable Participating Insurance Company permitting your Policy to be serviced by the Financial Intermediary. The ability of such Financial Intermediary to continue to service your Policy is subject to the continued effectiveness of the Financial Intermediary’s servicing agreement, which may be terminated without notice to you.

 

Supplement   Prospectus   1