Lincoln Life & Annuity Variable Annuity Account L

04/29/2025 | Press release | Distributed by Public on 04/29/2025 10:05

Updating Summary Prospectus (Form 497VPU)

Group Variable Annuity Contracts I, II, & III
Lincoln Life & Annuity Variable Annuity Account L  
Updating Summary Prospectus for Current Contractowners
May 1, 2025
This updating summary prospectus summarizes certain changes to key features of the Group Variable Annuity Contracts I, II, & III variable annuity contract issued by Lincoln Life & Annuity Company of New York (Lincoln New York or Company).
You should read this updating summary prospectus carefully, particularly the section titled Important Information You Should Consider about the Group Variable Annuity Contracts I, II, & III contract.
The prospectus for the Group Variable Annuity Contracts I, II, & III variable annuity contract contains more information about the Contract's features, benefits, and risks. You can find the prospectus and other information about the Contract online at www.lfg.com/VAprospectus. You can also obtain this information at no cost by calling 1-800-341-0441 or by sending an email request to
[email protected].
The Securities and Exchange Commission has not approved or disapproved the Contract or determined if this Summary Prospectus is accurate or complete. Any representation to the contrary is a criminal offense.
Additional information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.
All prospectuses and other shareholder reports, will be made available on www.lfg.com/VAprospectus.
1
Updated Information About Your Contract
The information in this Updating Summary Prospectus is a summary of certain contract features that have changed since the Updating Summary Prospectus dated May 1, 2024. This may not reflect all of the changes that have occurred since you entered into your Contract, and not all changes may be applicable to you.
Summary of Contract Changes:
●
The address of State Street Bank and Trust Company, the accounting services provider of the Variable Annuity Account, changed to 2323 Grand Boulevard, 5th Floor, Kansas City, MO 64108.
●
Effective May 6, 2024, Lincoln Financial Group and Osaic, Inc. entered into an agreement whereby Osaic acquired Lincoln Financial Advisors Corporation and Lincoln Financial Securities Corporation (collectively "LFN").
Summary of Fund Changes:
The following is a summary of changes to the list of funds available under the Contract. Additional information including investment objectives, current expenses and average annual total returns is available in Appendix A - Funds Available Under The Contract.
Fund Name Changes:
  
Former Fund Name
New Fund Name*
Fidelity® VIP Asset Manager Portfolio
Fidelity® VIP Asset Manager 50% Portfolio
LVIP Macquarie Diversified Income Fund
LVIP Fidelity Institutional AM® Total Bond Fund
 
 
2
Important Information You Should Consider About the Contract 
FEES AND EXPENSES
Location in
Prospectus
Charges for Early
Withdrawals
The surrender charges applicable to your Contract depend on the version of the Contract
that you own. The surrender charge is imposed on the gross withdrawal amount.
●GVA I contract. If you withdraw money during the first 16 Participation Years, you
may be assessed a surrender charge of up to 5% of the amount withdrawn, declining
to 0% over that time period.
●GVA II contract. If you withdraw money during the first 16 Participation Years, you
may be assessed a surrender charge of up to 6% of Purchase Payments withdrawn,
declining to 0% over that time period.
●GVA III contract. There is no surrender charge for this Contract.
●Fee Tables
●Examples
●Charges and
Other
Deductions -
Surrender
Charge
Transaction
Charges
●A one-time fee of up to $30 will be charged to set up the Systematic Withdrawal
Option.
●If you participate in a tax deferred retirement plan that allows Participant loans, you
may be eligible to take a loan against your Contract Value. The outstanding amount of
the loan is subject to loan interest and a loan maintenance fee.
●Fee Tables
●Charges and
Other
Deductions
Ongoing Fees and
Expenses (annual
charges)
Minimum and Maximum Annual Fee Table. The table below describes the fees and
expenses that you may pay each year, depending on the 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.
●Fee Tables
●Examples
●Charges and
Other
Deductions
Annual Fee
Minimum
Maximum
Base Contract (varies by Contract)
1.05%1
Investment options (fund fees and
expenses)
0.23%2
1.32%2
1 As a percentage of average daily net assets in the Subaccounts. Certain contracts or plans may be eligible for
a breakpoint charge of 0.75%
2 As a percentage of fund net assets.
Lowest and Highest Annual Cost Table. 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. This estimate assumes that you do not take withdrawals from the
Contract, which could add surrender charges that substantially increase costs.
Lowest Annual Cost: $1,500
Highest Annual Cost: $3,076
Assumes:
Assumes:
●Investment of $100,000
●5% annual appreciation
●Least expensive fund fees and
expenses
●No surrender charges
●No additional Purchase Payments,
transfers, or withdrawals
●Investment of $100,000
●5% annual appreciation
●Most expensive fund fees and expenses
●No surrender charges
●No additional Purchase Payments,
transfers, or withdrawals
RISKS
Location in
Prospectus
Risk of Loss
●You can lose money by investing in this Contract, including loss of principal.
●Principal Risks
●Investments of
the Variable
Annuity
Account
3
RISKS
Location in
Prospectus
Not a Short-Term
Investment
●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, any surrender
charges will reduce the value of your Contract or the amount of money that you
actually receive.
●The benefits of tax deferral and long-term income also mean the
Contract is more beneficial to investors with a long-term investment horizon.
●Withdrawals are subject to ordinary income tax and may be subject to tax penalties.
●Principal Risks
●Withdrawals
●Fee Tables
Risks Associated
with Investment
Options
●An investment in this Contract is subject to the risk of poor investment performance
of the investment options you choose. Performance can vary depending on the
performance of the investment options available under the Contract.
●Each investment option (including the fixed account option) has its own unique risks.
●You should review the investment options before making an investment decision.
●Principal Risks
●Investments in
the Variable
Annuity
Insurance
Company Risks
●An investment in the Contract is subject to the risks related to Lincoln New York. Any
obligations (including under the fixed account option), guarantees, or benefits of the
Contract are subject to our claims-paying ability. If we experience financial distress,
we may not be able to meet our obligations to you. More information about Lincoln
New York, including our financial strength ratings, is available upon request by
calling 1-800-341-0441 or visiting www.LincolnFinancial.com.
●Principal Risks
RESTRICTIONS
Location in
Prospectus
Investments
●The frequency of transfers between investment options is restricted. There are also
restrictions on the minimum amount that may be transferred from a variable option
and the maximum amount that may be transferred from the fixed account option.
●We reserve the right to charge a $25 fee for each transfer if you make more than 12
transfers in one Contract Year.
●We reserve the right to remove or substitute the funds that are available as
investment options under the Contract.
●Principal Risks
●Investments of
the Variable
Annuity
Account
●Transfers On
and Before the
Annuity
Commence-
ment Date
TAXES
Location in
Prospectus
Tax Implications
●Consult with a tax professional to determine the tax implications of an investment in
and payments received under this Contract.
●If you purchase the Contract through a tax-qualified plan or IRA, you do not get any
additional tax benefit under the Contract.
●Earnings on your Contract are taxed at ordinary income tax rates when you withdraw
them, and you may have to pay a penalty if you take a withdrawal before age 59½.
●Federal Tax
Matters
CONFLICTS OF INTEREST
Location in
Prospectus
Investment
Professional
Compensation
●Your registered representative may receive compensation for selling this Contract to
you, in the form of commissions, additional cash benefits (e.g., bonuses), and non-
cash compensation. We may share the revenue we earn on this Contract with your
investment professional's firm.
●This potential conflict of interest may influence your registered representative to
recommend this Contract over another investment for which the investment
professional is not compensated or compensated less.
●Distribution of
the Contracts
●Principal Risks
4
CONFLICTS OF INTEREST
Location in
Prospectus
Exchanges
●If you already own a contract, some investment professionals may have a financial
incentive to offer you a new Contract in place of the one you own. You should only
exchange a contract you already own if you determine, after comparing the features,
fees, and risks of both contracts, that it is better for you to purchase the new
Contract rather than continue to own your existing contract.
●Replacement
of Existing
Insurance
5
Appendix A - Funds Available Under The Contract
The following is a list of funds currently available under the Contract. Depending on the optional benefits you choose, you may not be able to invest in certain funds. Current performance of the Subaccounts can be found at www.lfg.com/VAprospectus. More information about the funds is available in the prospectuses for the Funds, which may be amended from time to time and can be found online at www.lfg.com/VAprospectus. You can also request this information and current fund performance at no cost by calling 1-800-341-0441 or by sending an email request to [email protected].
The current expenses and performance information below reflects fees and expenses of the Fund, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each fund's past performance is not necessarily an indication of future performance. 
Investment Objective
Fund and
Adviser/Sub-adviser1
Current Expenses
Average Annual Total
Returns (as of 12/31/2024)
1 year
5 year
10 year
Long-term growth of capital.
AB VPS Large Cap Growth Portfolio -
Class B
advised by AllianceBernstein L.P.
0.90%
24.95%
15.87%
15.67%
Long-term growth of capital.
AB VPS Sustainable Global Thematic
Portfolio - Class B
advised by AllianceBernstein L.P.
1.16%2
5.96%
8.77%
9.45%
Long-term growth of capital.
American Funds® IS Global Growth
Fund - Class 2
advised by Capital Research and
Management Company
0.66%2
13.68%
9.76%
10.74%
Growth of capital.
American Funds® IS Growth Fund -
Class 2
advised by Capital Research and
Management Company
0.59%
31.61%
18.83%
16.58%
Long-term growth of capital and income.
American Funds® IS Growth-Income
Fund - Class 2
advised by Capital Research and
Management Company
0.53%
24.23%
13.01%
12.20%
Long-term growth of capital.
American Funds® IS International Fund -
Class 2
advised by Capital Research and
Management Company
0.78%
3.16%
1.23%
4.01%
Capital Appreciation. A fund of funds.
DWS Alternative Asset Allocation VIP
Portfolio - Class A
advised by DWS Investment
Management Americas, Inc.
0.88%
5.64%
4.36%
3.17%
To obtain high total return with reduced
risk over the long term by allocating its
assets among stocks, bonds, and short-
term instruments.
Fidelity® VIP Asset Manager 50%
Portfolio - Initial Class
(formerly Fidelity® VIP Asset Manager
Portfolio)
0.52%
8.50%
5.65%
5.66%
Long-term capital appreciation.
Fidelity® VIP Contrafund® Portfolio -
Service Class 2
0.81%
33.45%
16.74%
13.33%
A-1
Investment Objective
Fund and
Adviser/Sub-adviser1
Current Expenses
Average Annual Total
Returns (as of 12/31/2024)
1 year
5 year
10 year
High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
Fidelity® VIP Freedom 2020 PortfolioSM
- Service Class 2
0.71%
7.40%
4.89%
5.76%
High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
Fidelity® VIP Freedom 2025 PortfolioSM
- Service Class 2
0.73%
8.28%
5.52%
6.27%
High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
Fidelity® VIP Freedom 2030 PortfolioSM
- Service Class 2
0.76%
9.14%
6.25%
7.03%
High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
Fidelity® VIP Freedom 2035 PortfolioSM
- Service Class 2
0.80%
10.77%
7.56%
8.01%
High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
Fidelity® VIP Freedom 2040 PortfolioSM
- Service Class 2
0.84%
12.81%
8.83%
8.68%
High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
Fidelity® VIP Freedom 2045 PortfolioSM
- Service Class 2
0.86%
13.54%
9.06%
8.80%
High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
Fidelity® VIP Freedom 2050 PortfolioSM
- Service Class 2
0.86%
13.55%
9.06%
8.79%
High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
Fidelity® VIP Freedom 2055 PortfolioSM
- Service Class 2
0.86%
13.61%
9.07%
N/A
High total return with a secondary
objective of principal preservation as the
fund approaches its target date and
beyond. A fund of funds.
Fidelity® VIP Freedom 2060 PortfolioSM
- Service Class 2
0.86%
13.53%
9.08%
N/A
To achieve capital appreciation.
Fidelity® VIP Growth Portfolio - Initial
Class
0.56%
30.39%
18.93%
16.63%
Long-term growth of capital.
Janus Henderson Global Research
Portfolio - Institutional Shares
0.72%
23.58%
12.35%
10.55%
Long-term capital growth and current
income by investing approximately 60%
of its assets in equity securities and the
remainder in bonds and other fixed-
income securities.
LVIP American Century Balanced Fund -
Standard Class II
advised by Lincoln Financial Investments
Corporation
0.77%2
12.06%
7.05%
6.76%
Capital Appreciation.
LVIP Baron Growth Opportunities Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
1.14%2
5.44%
7.96%
9.41%
A-2
Investment Objective
Fund and
Adviser/Sub-adviser1
Current Expenses
Average Annual Total
Returns (as of 12/31/2024)
1 year
5 year
10 year
High total investment return.
LVIP BlackRock Global Allocation Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
0.72%2
9.51%
6.19%
N/A
To maximize real return, consistent with
preservation of real capital and prudent
investment management.
LVIP BlackRock Inflation Protected Bond
Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
0.88%
2.64%
2.52%
2.15%
Total return through a combination of
current income and long-term capital
appreciation.
LVIP BlackRock Real Estate Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
0.83%2
1.61%
0.52%
2.67%
Long-term growth of capital in a manner
consistent with the preservation of
capital.
LVIP Blended Large Cap Growth
Managed Volatility Fund - Standard
Class
advised by Lincoln Financial Investments
Corporation
0.66%2
30.41%
15.74%
11.64%
Capital Appreciation.
LVIP Blended Mid Cap Managed
Volatility Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
0.72%2
19.23%
9.20%
9.12%
Long-term capital appreciation.
LVIP Dimensional U.S. Core Equity 1
Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
0.39%2
20.77%
13.29%
11.80%
Maximum long-term total return
consistent with reasonable risk.
LVIP Fidelity Institutional AM® Total
Bond Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
(formerly LVIP Macquarie Diversified
Income Fund)
0.51%2
1.98%
0.45%
1.77%
Long-term capital growth.
LVIP Franklin Templeton Global Equity
Managed Volatility Fund - Standard
Class
advised by Lincoln Financial Investments
Corporation
0.72%2
12.54%
8.93%
6.04%
To maximize long-term capital
appreciation.
LVIP Franklin Templeton Multi-Factor
Emerging Markets Equity Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
0.46%2
8.90%
3.36%
2.82%
A high level of current income with
some consideration given to growth of
capital. A fund of funds.
LVIP Global Conservative Allocation
Managed Risk Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
0.76%2
7.71%
2.88%
3.71%
A balance between a high level of
current income and growth of capital,
with a greater emphasis on growth of
capital. A fund of funds.
LVIP Global Growth Allocation Managed
Risk Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
0.75%2
11.15%
4.11%
4.47%
A-3
Investment Objective
Fund and
Adviser/Sub-adviser1
Current Expenses
Average Annual Total
Returns (as of 12/31/2024)
1 year
5 year
10 year
A balance between a high level of
current income and growth of capital,
with an emphasis on growth of capital. A
fund of funds.
LVIP Global Moderate Allocation
Managed Risk Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
0.76%2
10.19%
3.66%
4.14%
Current income and some capital
appreciation. A fund of funds.
LVIP JPMorgan Retirement Income Fund
- Standard Class
advised by Lincoln Financial Investments
Corporation
0.67%2
7.96%
3.89%
4.24%
Long-term capital appreciation.
LVIP JPMorgan Select Mid Cap Value
Managed Volatility Fund - Standard
Class
advised by Lincoln Financial Investments
Corporation
0.77%2
15.44%
9.11%
6.31%
Maximum current income (yield)
consistent with a prudent investment
strategy.
LVIP Macquarie Bond Fund - Standard
Class3
advised by Lincoln Financial Investments
Corporation
0.37%
1.61%
0.04%
1.57%
Total return.
LVIP Macquarie Diversified Floating Rate
Fund - Service Class3
advised by Lincoln Financial Investments
Corporation
0.88%2
5.80%
2.41%
1.96%
Total return and, as a secondary
objective, high current income.
LVIP Macquarie High Yield Fund -
Standard Class3
advised by Lincoln Financial Investments
Corporation
0.74%2
6.66%
3.68%
4.23%
Long-term capital appreciation.
LVIP Macquarie SMID Cap Core Fund -
Service Class3
advised by Lincoln Financial Investments
Corporation
1.10%2
14.38%
9.21%
9.21%
To maximize long-term capital
appreciation.
LVIP Macquarie Social Awareness Fund -
Standard Class3
advised by Lincoln Financial Investments
Corporation
0.43%
21.07%
13.87%
11.87%
Maximum long-term total return, with
capital appreciation as a secondary
objective.
LVIP Macquarie U.S. REIT Fund -
Service Class3
advised by Lincoln Financial Investments
Corporation
1.13%2
7.55%
2.75%
4.02%
To provide a responsible level of income
and the potential for capital appreciation.
LVIP Macquarie Wealth Builder Fund -
Standard Class3
advised by Lincoln Financial Investments
Corporation
0.71%2
8.18%
4.50%
4.83%
Current income consistent with the
preservation of capital.
LVIP Mondrian Global Income Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
0.66%2
-5.15%
-3.23%
-0.46%
A-4
Investment Objective
Fund and
Adviser/Sub-adviser1
Current Expenses
Average Annual Total
Returns (as of 12/31/2024)
1 year
5 year
10 year
Long-term capital appreciation as
measured by the change in the value of
fund shares over a period of three years
or longer.
LVIP Mondrian International Value Fund
- Standard Class
advised by Lincoln Financial Investments
Corporation
0.74%2
4.70%
3.48%
4.19%
To match as closely as practicable,
before fees and expenses, the
performance of the Bloomberg U.S.
Aggregate Index.
LVIP SSGA Bond Index Fund - Standard
Class
advised by Lincoln Financial Investments
Corporation
0.37%2
1.05%
-0.60%
1.03%
Long-term growth of capital. A fund of
funds.
LVIP SSGA Global Tactical Allocation
Managed Volatility Fund - Standard
Class
advised by Lincoln Financial Investments
Corporation
0.60%2
9.97%
5.20%
4.50%
To approximate as closely as practicable,
before fees and expenses, the
performance of a broad market index of
non-U.S. foreign securities.
LVIP SSGA International Index Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
0.38%2
3.22%
4.49%
4.98%
Capital Appreciation. A fund of funds.
LVIP SSGA International Managed
Volatility Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
0.62%2
2.78%
1.95%
2.87%
To approximate as closely as practicable,
before fees and expenses, the total rate
of return of common stocks publicly
traded in the United States, as
represented by the S&P 500 Index.
LVIP SSGA S&P 500 Index Fund -
Standard Class4
advised by Lincoln Financial Investments
Corporation
0.23%
24.73%
14.24%
12.84%
To approximate as closely as practicable,
before fees and expenses, the
performance of the Russell 2000®
Index, which emphasizes stocks of small
U.S. companies.
LVIP SSGA Small-Cap Index Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
0.38%2
11.14%
6.97%
7.38%
The highest total return over time
consistent with an emphasis on both
capital growth and income. A fund of
funds.
LVIP T. Rowe Price 2020 Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
0.65%2
8.81%
5.52%
5.33%
The highest total return over time
consistent with an emphasis on both
capital growth and income. A fund of
funds.
LVIP T. Rowe Price 2030 Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
0.68%2
10.43%
6.90%
6.08%
The highest total return over time
consistent with an emphasis on both
capital growth and income. A fund of
funds.
LVIP T. Rowe Price 2040 Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
0.71%2
13.04%
8.61%
7.05%
The highest total return over time
consistent with an emphasis on both
capital growth and income. A fund of
funds.
LVIP T. Rowe Price 2050 Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
0.73%2
14.20%
9.23%
7.68%
A-5
Investment Objective
Fund and
Adviser/Sub-adviser1
Current Expenses
Average Annual Total
Returns (as of 12/31/2024)
1 year
5 year
10 year
The highest total return over time
consistent with an emphasis on both
capital growth and income. A fund of
funds.
LVIP T. Rowe Price 2060 Fund -
Standard Class
advised by Lincoln Financial Investments
Corporation
0.73%2
14.27%
N/A
N/A
To maximize capital appreciation.
LVIP T. Rowe Price Structured Mid-Cap
Growth Fund - Standard Class
advised by Lincoln Financial Investments
Corporation
0.72%2
23.67%
11.14%
11.96%
Capital Appreciation.
Macquarie VIP Small Cap Value Series -
Service Class3
advised by Delaware Management
Company
1.04%
11.02%
6.83%
7.30%
Long-term growth of capital by investing
primarily in securities of companies that
meet the Fund's environmental, social
and governance (ESG) criteria.
Neuberger Berman AMT Sustainable
Equity Portfolio - I Class
0.89%
25.84%
13.97%
11.44%
Long-term growth of capital through
investments primarily in the common
stocks of established, non-U.S.
companies.
T. Rowe Price International Stock
Portfolio
0.95%2
3.25%
3.22%
5.21%
1
The name of the adviser or sub-adviser is not listed if the name is incorporated into the name of the fund or the fund company.
2
This fund is subject to an expense reimbursement or fee waiver arrangement. As a result, this fund's annual expenses reflect temporary expense reductions. See the fund prospectus for additional information.
3
Investments in Macquarie VIP Series, Macquarie Funds, LVIP Macquarie Funds or Lincoln Life accounts managed by Macquarie Investment Management Advisers, a series of Macquarie Investments Management Business Trust, are not and will not be deposits with or liabilities of Macquarie Bank Limited ABN 46008 583 542 and its holding companies, including their subsidiaries or related companies, and are subject to investment risk, including possible delays in prepayment and loss of income and capital invested. No Macquarie Group company guarantees or will guarantee the performance of the series or funds or accounts, the repayment of capital from the series or funds or account, or any particular rate of return.
4
The Index to which this fund is managed to is a product of S&P Dow Jones Indices LLC (SPDJI) and has been licensed for use by one or more of the portfolio's service providers (licensee). Standard & Poor's®, S&P®, S&P GSCI® and S&P 500® are registered trademarks of S&P Global, Inc. or its affiliates (S&P) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones). The trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by the licensee. The licensee's products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, or their third party licensors, and none of these parties or their respective affiliates or third party licensors make any representation regarding the advisability of investing in such products, nor do they have liability for any errors, omissions, or interruptions of the Index.
5
"Standard & Poor's®," "S&P®," "Standard & Poor's Equal Weight Index," "S&P EWI," "S&P 500®," "Standard & Poor's 500" and "500" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by the Invesco V.I. Equally-Weighted S&P 500 Fund. The fund is not sponsored, endorsed, sold or promoted by S&P, and S&P makes no representation regarding the advisability of investing in the fund.
6
Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). The trademark has been licensed to S&P Dow Jones Indices LLC and has been sublicensed for use for certain purposes by First Trust Advisors L.P. The product is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of purchasing the product.
A-6
This updating summary prospectus incorporates by reference the prospectus and statement of additional information (SAI) for the Contract, both dated May 1, 2025, as may be amended or supplemented from time to time. The SAI may be obtained, free of charge, in the same manner as the prospectus.
  SEC File Nos. 333-141755; 811-07785
EDGAR Contract Identifier C000049414
Lincoln Life & Annuity Variable Annuity Account L published this content on April 29, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on April 29, 2025 at 16:05 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]