Franklin Templeton Variable Insurance Products Trust
01/15/2025 | Press release | Distributed by Public on 01/15/2025 08:51
Prospectus by Investment Company (Form 497)
FFA-P1 01/25
FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
SUPPLEMENT DATED JANUARY 15, 2025
TO THE PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION ("SAI")
EACH DATED MAY 1, 2024, OF
FRANKLIN ALLOCATION VIP FUND (THE "FUND")
Effective December 12, 2024, the Prospectus and SAI of the Fund are amended as follows:
I. The following replaces the information for Franklin Templeton Institutional, LLC in the sub-advisor table in the "Fund Details - Franklin Allocation VIP Fund - Management" section of the Prospectus:
|
Name of Sub-Advisor |
Strategy |
Address of Sub-Advisor |
|
Franklin Templeton Institutional, LLC |
Franklin U.S. Core Bond Franklin International Growth Franklin Investment Grade Corporate Franklin U.S. Treasury Securities |
280 Park Avenue, New York, New York 10017 |
II. The following is added to the first table under the "Name of sub-advisors, annual fee rates and fees paid over the last three fiscal years" section in the "Management and Other Services - Investment Managers and Services Provided" section of the SAI:
|
Strategy Sleeve |
Sub-Advisor |
Sub-advisory Fee Rate |
|
Franklin U.S. Treasury Securities |
FT Institutional |
0.03% |
|
Franklin U.S. Core Bond |
FT Institutional |
0.04% |
Please retain this supplement for future reference.