Prospectus by Investment Company (Form 497)

THE LINCOLN NATIONAL LIFE INSURANCE COMPANY

Lincoln Life Flexible Premium Variable Life Account M

Lincoln VUL^ONE, Lincoln VUL^ONE 2005, Lincoln VUL^ONE 2007, Lincoln VUL^ONE 2012, Lincoln VUL^ONE 2014, Lincoln VUL^ONE 2019, Lincoln VUL^ONE 2021, Lincoln VUL^CV-IV, Lincoln VUL^DB-IV, Lincoln AssetEdge^® VUL, Lincoln AssetEdge^® VUL 2015, Lincoln AssetEdge^® VUL 2019, Lincoln AssetEdge^® VUL 2019-2, Lincoln AssetEdge^® VUL 2020, Lincoln AssetEdge^® VUL 2022, Lincoln AssetEdge^® VUL 2022-2, Lincoln AssetEdge^® VUL 2025, Lincoln AssetEdge^® VUL 2025-2, Lincoln LifeGoals^®

Lincoln Life Flexible Premium Variable Life Account R

Lincoln SVUL-IV, Lincoln PreservationEdge^® SVUL, Lincoln SVUL^ONE 2013, Lincoln SVUL^ONE 2016, Lincoln SVUL^ONE 2019, Lincoln SVUL^ONE 2021, Lincoln AssetEdge^® SVUL, Lincoln AssetEdge^® SVUL - No Indexed Accounts

Lincoln Life Flexible Premium Variable Life Account S

Lincoln Corporate Variable 5, Lincoln Corporate Commitment^® VUL, Lincoln Corporate Exec^SM VUL

LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK

Lincoln Life & Annuity Flexible Premium Variable Life Account M

Lincoln AssetEdge^® VUL 2015

LLANY Separate Account S for Flexible Premium Variable Life Insurance

Lincoln Corporate Variable 5, Lincoln Corporate Commitment^® VUL

Supplement dated May 1, 2026 to the Prospectus dated May 1, 2026

This Supplement to your prospectus outlines changes to certain investment options under your variable life insurance policy. All other provisions outlined in your prospectus, as supplemented, remain unchanged.

Effective May 1, 2026, the following American Funds Insurance Series fund names will be updated as follows:

You can obtain information by contacting your registered representative, online at www.lfg.com/vulprospectus, or by sending an email request to [email protected].

Please retain this supplement for future reference.