Updating Summary Prospectus (Form 497VPU)

Special Terms Used in this Summary Prospectus

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Updated Information About Your Contract

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Important Information You Should Consider About the Contract

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Appendix A - Investment Options Available Under the Contract

APP A-1

Part of our General Account, where you may allocate all or a portion of your Contract Value. In your Contract, the FAF may be called the "Fixed Account."

Yes.

Surrender Charges. If you withdraw money from your contract within 7 years following your last premium payment, you may be assessed a surrender charge of up to 7% (as a percentage of premium payments withdrawn), declining to 0% over that time period. For example, if you were to withdraw $100,000 during a surrender charge period, you could be assessed a charge of up to $7,000 for your contract. This loss will be greater if there is a negative MVA, or you are subject to taxes or tax penalties.

Market Value Adjustments. If you withdraw or otherwise remove amounts from a multi-year Guarantee Period more than 15 days before or after the end of the Guarantee Period, we may apply an MVA, which may be negative. In extreme circumstances, you could lose up to 100% of the amount withdrawn or otherwise removed due to a negative MVA. For example, if you were to withdraw $100,000 from a multi-year Guarantee Period outside of the specified 30-day period, you could lose up to $100,000 of the amount withdrawn. This loss will be greater if you also have to pay a surrender charge, taxes, and tax penalties. An MVA may apply to withdrawals (including full withdrawals, partial withdrawals, and withdrawals to pay advisory fees), transfers, annuitization, and death benefits.

No. Other than surrender charges and MVAs, there are no charges for other contract transactions.

Yes, the table below describes the current fees and expenses of the contract that you may pay each year, depending on the investment options you choose. Please refer to your contract specifications page for information about the specific fees you will pay each year based on the options you have elected. Fees and expenses do not reflect any advisory fees paid to financial intermediaries from Contract Value or other assets of the Contract Owner. If such charges were reflected, the fees and expenses would be higher.

1 As a percentage of average daily Sub-Account Values. The Base Contract charge includes the mortality and expense risk charge and the administrative charge.

2 All Contract Owners are under age 61 at the time the Contract was purchased.

3 One or more Contract Owners are age 61 or older at the time the Contract was purchased.

4 As a percentage of Fund net assets.

Because your contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. This estimate assumes that you do not take withdrawals from the contract, which could add surrender charges and negative MVAs that substantially increase costs.

•Investment of $100,000

•Investment of $100,000

•5% annual appreciation

•5% annual appreciation

•Least expensive fund fees and expenses

•Most expensive fund fees and expenses

•No sales charges or advisory fees

•No sales charges or advisory fees

•No additional premium payments, transfers or withdrawals

•No additional premium payments, transfers or withdrawals

1 All Contract Owners are under age 61 at the time the Contract was purchased.

2 One or more Contract Owners are age 61 or older at the time the Contract was purchased.

Yes. You can lose money by investing in this contract, including loss of principal.

No.

•This contract is not designed for short-term investing and is not appropriate for an investor who needs ready access to cash.

•Surrender charges may apply to withdrawals. If you take a withdrawal, a surrender charge may reduce the value of your contract or the amount of money that you actually receive.

•Amounts withdrawn or otherwise removed from a multi-year Guarantee Period more than 15 days before or after the end of the Guarantee Period may result in a negative MVA.

•The benefits of tax deferral and long-term income are generally more beneficial to investors with a long-time horizon.

•Withdrawals could result in significant reductions to account value, the death benefit, and other contract benefits, possibly by more than the amount withdrawn.

•Withdrawals may be subject to taxes, and a 10% penalty tax may be applied to withdrawals before age 59½.

•At the end of a Guarantee Period, your Contract Value in the matured Guarantee Period will be reallocated, withdrawn, or annuitized according to your instructions. In the absence of instructions, the Contract Value will be automatically reallocated to a new Guarantee Period that is the same length as the matured Guarantee Period.

•An investment in this contract is subject to the risk of poor investment performance. Performance can vary depending on the performance of the investment options that you choose under the contract (e.g., Funds).

•Each investment option (including any Guarantee Period and the Fixed Accumulation Feature) has its own unique risks.

•You should review the available investment options before making an investment decision.

Yes.

•There are restrictions that may limit the investment options you may choose, as well as limitations on the transfer of Contract Value among investment options.

•Certain investment options may not be available under your contract.

•You are allowed to make 1 transfer between the Fund options per day. You are allowed to make 20 transfers between the Fund options per year before we require you to submit additional transfer requests by mail. Your transfers between the Fund options are subject to policies designed to deter excessively frequent transfers and market timing. These transfer restrictions do not apply to transfers under the contract's automatic transfer programs.

•Transfers out of a multi-year Guarantee Period may be subject to a negative MVA.

•If you transfer amounts out of a one-year Guarantee Period to the Fund options, you may not transfer from the Fund options back into a one-year Guarantee Period for six months.

•We reserve the right to remove or substitute Funds as investment options.

•The availability of Contract benefits may vary depending on the broker-dealer through which the Contact is sold.

Yes.

•There are restrictions and limitations relating to the benefits offered under the contract (e.g., death benefits).

•Except as otherwise provided, contract benefits may not be modified or terminated by us.

•Death benefits paid from a multi-year Guarantee Period may be subject to a negative MVA. Additionally, withdrawals that exceed certain limits may reduce the benefit by more than the amount withdrawn and may even terminate the benefit.

•Partial withdrawals and negative MVAs may significantly reduce the death benefit.

•If you receive services for your Contract from a third-party financial intermediary who charges an advisory fee for their services, that fee is in addition to Contract fees and expenses. If you elect to pay the advisory fee by taking withdrawals from your Contract Value, the deduction for that fee may be subject to surrender charges and an MVA. Withdrawals to pay advisory fees will also reduce benefits under the Contract, including the Death Benefit, and may be subject to federal and state income taxes and a 10% federal penalty tax.

•The availability of Contract benefits may vary depending on the broker-dealer through which the Contact is sold.

•Consult with a tax professional to determine the tax implications of an investment in and payments received under the contract.

•If you purchased the contract through a tax-qualified plan or individual retirement account (IRA), you do not get any additional tax benefit under the contract.

•Earnings on your contract are taxed at ordinary income rates when you withdraw them and you may have to pay a penalty if you take a withdrawal before age 59½.

Your investment professional may receive compensation for selling this contract to you, in the form of commissions, additional payments, and non-cash compensation. We may share the revenue we earn on this contract with your investment professional's firm. This conflict of interest may influence your investment professional to recommend this contract over another investment for which the investment professional is not compensated or compensated less.