Summary Prospectus for New Investors by Investment Company (Form 497VPI)

Lincoln PathBuilder Income® IRA 

Individual Variable Annuity Contract  

Summary Prospectus for New Investors
May 1, 2026

This summary prospectus summarizes key features of the Lincoln PathBuilder Income® IRA variable annuity contract, issued by The Lincoln National Life Insurance Company (Lincoln Life or Company).

This prospectus describes two versions of the Contract: (i) Lincoln PathBuilder Income® IRA, available through registered representatives who are affiliated with us; or (ii) Lincoln PathBuilder Income® IRA - Advisory ("the Advisory version"), available through a third-party financial intermediary who may charge an advisory fee for their services. That fee is in addition to contract fees and expenses. If you elect to pay third-party advisory fees out of your Contract Value, this deduction may reduce the Death Benefit(s) and other guaranteed benefits, and may be subject to federal and state income taxes and a 10% federal penalty tax. For more details, see Advisory Fee Withdrawals.

Before you invest, you should also review the prospectus for the Lincoln PathBuilder Income® IRA variable annuity contract, which contains more information about the Contract's features, benefits, and risks. You can find this prospectus and other information about the Contract online at www.lfg.com/VAprospectus. You can also obtain this information at no cost by calling 1-800-234-3500 or by sending an email request to [email protected].

This Contract is a complex investment and involves risks, including potential loss of principal.

YOU MAY CANCEL YOUR CONTRACT WITHIN THE FREE LOOK PERIOD WITHOUT PAYING FEES OR PENALTIES.

If you are a new investor in the Contract, you may cancel your Contract within ten days of receiving it without paying fees or penalties. In some states, this "free look" or cancellation period may be longer if you are replacing an existing Contract. Upon cancellation, you will receive either a full refund of the amount you paid with your application or your total Contract Value. You should review the prospectus, or consult with your investment professional, for additional information about the specific cancellation terms that apply.

This Contract is not designed for short-term investing and is not appropriate for the investor who needs ready access to cash. Withdrawals could result in taxes and tax penalties.

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.

Investors should consult a financial professional about the Contract's features, benefits, risks, and fees and whether the Contract is appropriate for them based upon their financial situation and objectives. We do not guarantee that all of the Subaccounts will always be available. Our obligations under the Contract, guarantees, or benefits of the Contract are subject to our financial strength and claims-paying ability.

Table of Contents 

Item	Page
Special Terms	3
Overview of the Contract	4
Important Information You Should Consider About the Lincoln PathBuilder Income® IRA Variable Annuity Contract	5
Benefits Available Under the Contract	7
Buying the Contract	7
Making Withdrawals: Accessing the Money in Your Contract	8
Additional Information About Fees	9
Fee Tables	9
Appendix A - Investment Options Available Under The Contract	A-1
Appendix B - Investment Requirements	B-1

Special Terms

In this initial summary prospectus, the following terms have the indicated meanings:

Account or Variable Annuity Account (VAA)-The segregated investment account, Account C, into which we set aside and invest the assets of the Contract offered in this prospectus.

Accumulation Unit-A measure used to calculate Contract Value for the Contract before the Annuity Commencement Date.

Advisory Fee Withdrawal-Withdrawals from your Contract Value to pay the advisory fees associated with your Fee-Based Financial Plan.

Annuitant-The person upon whose life the annuity payments are based. The Annuitant is also the Contractowner.

Annuity Payout- An amount paid at regular intervals after the Annuity Commencement Date under one of several options available to the Annuitant and/or any other payee. This amount is paid on a fixed basis.

Automatic Step-up-A feature that provides an automatic step-up of the Protected Income Base to the Contract Value, subject to certain conditions.

Benefit Year-Under Guaranteed Withdrawal Benefit, the 12-month period starting with the effective date of the rider and starting with each anniversary of the rider effective date after that.

Beneficiary-The person you choose to receive any Death Benefit paid if you die before the Annuity Commencement Date.

Contract-The variable annuity contract you have entered into with Lincoln Life.

Contractowner (you, your, owner)-The person who can exercise the rights within the Contract (decides on investment allocations, transfers, payout option, designates the Beneficiary, etc.). The Contractowner must be the Annuitant.

Contract Value-At a given time before the Annuity Commencement Date, the total value of all Accumulation Units for a Contract.

Contract Year-Each 12-month period starting with the effective date of the Contract and starting with each contract anniversary after that.

Death Benefit-Before the Annuity Commencement Date, the amount payable to your designated Beneficiary upon your death.

Excess Withdrawals-Amounts withdrawn from the Contract which may decrease or eliminate guarantees under the Guaranteed Withdrawal Benefit.

Fee-Based Financial Plan-A wrap account, managed account or other investment program whereby an investment firm/professional offers asset allocation and/or investment advice for a fee. Such programs can be offered by broker-dealers, banks and registered investment advisers, trust companies and other firms. Under this arrangement, the Contractowner pays the investment firm/professional directly for services. Deductions made for advisory fees may impact your Contract Value, and may reduce the benefits under your Contract.

Good Order-The actual receipt at our Home Office of the requested transaction in writing or by other means we accept, along with all information and supporting legal documentation necessary to complete the transaction. The forms we provide will identify the necessary documentation. We may, in our sole discretion, determine whether any particular transaction request is in Good Order, and we reserve the right to change or waive any Good Order requirements at any time.

Guaranteed Annual Income (GAI)-The guaranteed periodic withdrawal amount available from the Contract each Benefit Year for life under Guaranteed Withdrawal Benefit.

Income Base-A value used to calculate the Guaranteed Annual Income amount.

Investment Requirements-Restrictions in how you may allocate your Subaccount investments.

Lincoln Life (we, us, our, Company)-The Lincoln National Life Insurance Company.

Purchase Payment-The initial investment made by a single premium payment to purchase this Contract.

Rollover Money-An eligible rollover from your former qualified plan.

Subaccount-Each portion of the VAA that reflects investments in Accumulation and Annuity Units of a class of a particular fund available under the contracts. There is a separate Subaccount which corresponds to each class of a fund.

Valuation Date-Each day the New York Stock Exchange (NYSE) is open for trading.

Valuation Period-The period starting at the close of trading (normally 4:00 p.m., Eastern Time) on each day that the NYSE is open for trading (Valuation Date) and ending at the close of such trading on the next Valuation Date.

Overview of the Contract

Purpose of the Contract

The Lincoln PathBuilder Income® IRA is intended to be used as a rollover product and provides guaranteed periodic withdrawals. It is designed for you to accumulate assets through investments in a variety of investment options during the accumulation phase. Then, during the annuity phase, the Contract is designed to supplement your retirement income by providing a stream of income payments. The Contract also offers a Death Benefit payable to your designated Beneficiaries.

This Contract may be appropriate if you have a long-term investment horizon. It is not intended for people who may need to make early or frequent withdrawals or intend to engage in frequent trading in the Subaccounts that are available under the Contract.

Phases of the Contract

The Contract has two phases: (1) an accumulation phase (for savings) and (2) an annuity phase (for income).

Accumulation (Savings) Phase. To help you accumulate assets during the accumulation phase, you can invest your payments and earnings in the variable options available under the Contract, each of which has an underlying mutual fund with its own investment objective, strategies, and risks; investment adviser(s); expense ratio; and performance history.

Additional information about each investment option is provided in Appendix A - Investment Options Available Under The Contract.

Annuity (Income) Phase. You can elect to annuitize your Contract and turn your Contract Value into a stream of income payments from us (sometimes called Annuity Payouts). These payments may continue for a set period of years, for as long as you live, or for the longer of the two. The payments may be fixed or variable. Variable payments will vary based on the performance of the funds you choose.

If you annuitize, your investments will be converted to income payments. You will no longer be able to make withdrawals from your Contract and there won't be a death benefit. However, please note that certain annuity payout options make an amount payable upon death.

Primary Features and Options of the Contract

Accessing Your Money. Before you annuitize, you can withdraw money from your Contract at any time. If you surrender or take an early withdrawal, you may have to pay income taxes, including a tax penalty if you are younger than age 59½.

Tax Treatment. You can transfer money between investment options without tax implications, and earnings (if any) on your investments are generally tax-deferred. You are taxed only upon: (1) taking a withdrawal; (2) receiving a payment from us; or (3) payment of a Death Benefit.

Death Benefits. The Contract includes a Death Benefit that will pay your designated Beneficiaries the Contract Value at the time of your death.

Guaranteed Withdrawal Benefit. The Contract includes a Guaranteed Withdrawal Benefit that provides guaranteed lifetime periodic withdrawals, regardless of investment performance of the Contract. This guarantee is subject to certain conditions, as set forth elsewhere in the prospectus.

Additional Services. The additional services listed below are available under the Contract for no additional charge (unless otherwise indicated).

Additionally, if you elect to pay a third-party advisory fee out of your Contract Value, this deduction may reduce the Death Benefit(s) and other guaranteed benefits, and may be subject to federal and state income taxes and a 10% federal penalty tax. See Death Benefits, Benefits Available Under the Contract - Advisory Fee Withdrawals for Optional Rider(s), and Federal Tax Matters - Payment of Investment Advisory Fees.

Important Information You Should Consider About the Lincoln PathBuilder Income® IRA Variable Annuity Contract 

	FEES, EXPENSES, AND ADJUSTMENTS			Location in Prospectus
Are There Charges or Adjustments for Early Withdrawals?	No: There are no surrender charges associated with this Contract.			●N/A
Are There Transaction Charges?	No: There are no transaction charges associated with this Contract.			●N/A
Are There Ongoing Fees and Expenses?	Yes: Minimum and Maximum Annual Fee Table. The table below describes the fees and expenses that you may pay each year, depending on the investment options you choose. Please refer to your contract specifications page in your Contract for information about the specific fees and expenses you will pay each year based on the options you have elected. These charges do not reflect any advisory fees paid to a financial intermediary from Contract Value or other assets of the Contractowner. If such charges were reflected, the ongoing fees and expenses would be higher.			●Fee Tables ●Fee Tables - Examples ●Charges, Other Deductions, and Adjustments ●Appendix A - Investment Options Available Under the Contract
	Annual Fee	Minimum	Maximum
	Base Contract	0.25%1	0.25%1
	Base Contract - Guaranteed Withdrawal Benefit	1.00%2	2.00%2
	Fund fees and expenses	0.48%3	1.61%3
	1 As a percentage of average Contract Value. For the base contract, also includes an amount attributable to the Annual Account Fee.
	2 As a percentage of the Income Base.
	3As a percentage of fund net assets, before expense reimbursements or fee waiver arrangements.
	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, based on current charges. This estimate assumes that you do not take withdrawals from the Contract.
	Lowest Annual Cost: $3,031	Highest Annual Cost: $4,072
	Assumes:	Assumes:
	●Investment of $100,000 ●5% annual appreciation ●Least expensive fund fees and expenses ●No additional Purchase Payments, transfers, or withdrawals ●No sales charges or advisory fees	●Investment of $100,000 ●5% annual appreciation ●Most expensive fund fees and expenses ●No additional Purchase Payments, transfers, or withdrawals ●No sales charges or advisory fees

	CONFLICTS OF INTEREST			Location in Prospectus
How are Investment Professionals Compensated?	●Your financial professional 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 financial professional to recommend this Contract over another investment for which the investment professional is not compensated or compensated less.			●Distribution of the Contracts
Should I Exchange My Contract?	●You should only exchange a contract 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.			●N/A

Benefits Available Under the Contract

The following table summarize information about the benefits available under the Contract. A detailed description of each benefit is available in the prospectus.  

Standard Benefits
Name of Benefit	Purpose	Maximum Fee	Brief Description of Restrictions / Limitations
Account Value Death Benefit	Provides a Death Benefit equal to the Contract Value.	●0.25% (as a percentage of average Contract Value)	●Poor investment performance could significantly reduce the benefit. ●Withdrawals could significantly reduce the benefit.
Guaranteed Withdrawal Benefit	●Guaranteed lifetime periodic withdrawals; ●Automatic step-ups of the Income Base..	●2.00%	●Excess Withdrawals could significantly reduce or terminate the benefit. ●Investment Requirements apply.
Portfolio Rebalancing	Allows you to automatically reallocate your Contract Value among investment options on a periodic basis based on your standing allocation instructions.	None	●N/A.
Automatic Withdrawal Service	Allows you to take periodic withdrawals from your Contract automatically.	None	●N/A ●Withdrawals are subject to applicable surrender charges, taxes, and tax penalties. ●May result in Excess Withdrawals under certain optional benefits.
Advisory Fee Withdrawals	Allows you to take withdrawals from your Contract to pay the advisory fees.	None	●May not be available in all states. ●You may take Advisory Fee Withdrawals up to 1.25% annually without negatively impacting your rider guarantees. ●The deduction of advisory fees from Contract Value may reduce the Death Benefit and other guaranteed benefits (unless the requirements listed above are met), and may be subject to federal and state income taxes and a 10% federal penalty tax.

Buying the Contract

If you wish to purchase a Contract, you must apply for it through a financial professional authorized by us. The completed application is sent to us and we decide whether to accept or reject it. If the application is accepted, a Contract is prepared and executed by our legally authorized officers. The Contract (and a statement confirming your investments) is then sent to you either directly or through

your financial professional. The purchase of multiple contracts with identical Contractowners, Annuitants and Beneficiaries will be allowed only upon Home Office approval.

When a completed application and all other information necessary for processing a purchase order is received in Good Order at our Home Office at The Lincoln National Life Insurance Company, PO Box 2340, Fort Wayne, IN 46801-2340, an initial Purchase Payment will be priced no later than two business days after we receive the order. If you submit your application and/or initial Purchase Payment to your financial professional, we will not begin processing your purchase order until we receive the application and initial Purchase Payment from your financial professional's broker-dealer. While attempting to finish an incomplete application, we may hold the initial Purchase Payment for no more than five business days unless we receive your consent to our retaining the payment until the application is completed. If the incomplete application cannot be completed within those five days and we have not received your consent, you will be informed of the reasons, and the Purchase Payment will be returned immediately. Once the application is complete, we will allocate your initial Purchase Payment within two business days.

Purchase Payments - Investing in the Contract

The Purchase Payment for the Contract must be made using Rollover Money from a qualified plan. Additional Purchase Payments are not permitted.

Purchase Payments totaling $5 million or more are subject to Home Office approval. This amount takes into consideration the total Purchase Payments for all variable annuity contracts issued by the Company (or its affiliates) in which you are the Contractowner, joint owner, or Annuitant.

Making Withdrawals: Accessing the Money in Your Contract

Before the Annuity Commencement Date - During the Accumulation (Savings) Phase

You can access the money in your Contract by making a withdrawal, which will reduce the value of your Contract (including the amount of the Death Benefit and certain living benefits). You may withdraw all or a portion of the Contract Value (minus applicable charges and other adjustments, discussed below). However, withdrawing the entire cash value of your Contract will terminate your Contract.

Before the Annuity Commencement Date, you can completely surrender the Contract or withdraw part of the Contract Value upon your written request on an approved Lincoln distribution request form (available from the Home Office), fax, or other electronic means. Withdrawal requests may also be made by telephone or our website, subject to certain restrictions. All surrenders and withdrawals must be made in accordance with the rules discussed in the prospectus. The amount available upon surrender or withdrawal is the Contract Value less any applicable charges, fees, and taxes at the end of the Valuation Period during which the written request for surrender or withdrawal is received in Good Order at the Home Office.

If we receive a surrender or withdrawal request in Good Order at our Home Office before the close of regular trading on the New York Stock Exchange (normally 4:00 p.m., Eastern Time), we will process the request using the Accumulation Unit value computed on that Valuation Date. If we receive a surrender or withdrawal request in Good Order at our Home Office after New York Stock Exchange regular market close, we will process the request using the Accumulation Unit value computed on the next Valuation Date.

There are tax consequences for surrenders and withdrawals.

There are limitations associated with taking money out of the Contract, including the following:  

Limitations on withdrawal amounts	●The minimum withdrawal amount is $300.
Negative impact on benefits and guarantees of your Contract	●A withdrawal may have a negative impact on certain optional benefits that you may elect. It may reduce the value of or even terminate certain benefits.
Internal Revenue Code or Retirement Plan	●Depending on the circumstances, the Internal Revenue Code or your retirement plan may restrict your ability to take withdrawals.

 

After the Annuity Commencement Date - During the Annuity (Income) Phase

After the Annuity Commencement Date, you will receive payments under the annuity payment option you select, but generally you may not take any other withdrawals or surrender your Contract. Surrender or withdrawal rights after the Annuity Commencement Date, if any, depend on the Annuity Payout option selected.

Additional Information About Fees

Fee Tables

The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering or making withdrawals from the Contract. 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. These charges do not reflect any advisory fees paid to a financial intermediary from Contract Value or other assets of the Contractowner. If such charges were reflected, the ongoing fees and expenses would be higher.

The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender or make withdrawals from the Contract, or transfer Contract Value between investment options. State premium taxes may also be deducted.

  TRANSACTION EXPENSES

  

There are no sales charges, deferred sales charges, or surrender charges associated with this Contract.

 

The next table describes the fees and expenses that you will pay each year during the time that you own the Contract (not including fund fees and expenses).

  ANNUAL CONTRACT EXPENSES

  

Base Contract Expense (as a percentage of average Contract Value)
Base Contract Expense		0.25%
Guaranteed Withdrawal Benefit:1
Guaranteed Maximum Annual Charge		2.00%
Current Annual Charge		1.00%

charge is deducted from the Contract Value on a quarterly basis. 

The next item shows the minimum and maximum total annual operating expenses charged by the funds that you may pay periodically during the time that you own the Contract. A complete list of funds available under the Contract, including their annual expenses, may be found in Appendix A - Investment Options Available Under the Contract. 

Annual Fund Expenses	Minimum	Maximum
Expenses that are deducted from the fund assets, including management fees, distribution and/or service (12b-1) fees, and other expenses before any fee waivers or expense reimbursements.	0.48 %	1.61 %
Expenses that are deducted from the fund assets, including management fees, distribution and/or service (12b-1) fees, and other expenses after any fee waivers or expense reimbursements.1	0.48 %	1.46 %

EXAMPLES

The following Examples are intended to help you compare the cost of investing in the variable options with the cost of investing in other annuity contracts that offer variable options. These costs include transaction expenses, contract fees, annual contract expenses, and annual fund fees and expenses. These examples do not reflect any advisory fees paid to a financial intermediary from the Contract Value or other assets of the Contractowner. If such charges were reflected, the ongoing fees and expenses would be higher. For more details. See Advisory Fee Withdrawals.

The Example assumes that you invest $100,000 in the variable options for the time periods indicated. The Example also assumes that your investment has a 5% return each year, the maximum fees and expenses of any of the funds and that Guaranteed Withdrawal Benefit at the guaranteed maximum charge are in effect. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

1) If you surrender your Contract at the end of the applicable time period: 

1 year	3 years	5 years	10 years
$3,872	$11,745	$19,794	$40,713

2) If you annuitize or do not surrender your Contract at the end of the applicable time period: 

1 year	3 years	5 years	10 years
$3,872	$11,745	$19,794	$40,713

For more information, see Charges, Other Deductions, and Adjustments in this prospectus and the prospectuses for the funds. Premium taxes may also apply, although they do not appear in the examples. Different fees and expenses not reflected in the examples may be imposed during a period in which Annuity Payouts are made. See Annuity Payouts. These examples should not be considered a representation of past or future expenses. Actual expenses may be more or less than those shown.

Appendix A - Investment Options Available Under The Contract

The following is a list of funds currently available under the Contract. Investment Requirements related to the Guaranteed Withdrawal Benefit limit your ability 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 1-800-234-3500 or by sending an email request to [email protected].

The current expenses and performance information below reflect 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 12/31/2025)
			1 year	5 year	10 year
Long-term growth of capital.	Invesco V.I. EQV International Equity Fund - Series II Shares	1.15%	16.23%	3.42%	5.95%
Long-term growth of capital.	LVIP AllianceBernstein Large Cap Growth Fund - Service Class advised by Lincoln Financial Investments Corporation	0.88%2	13.72%	8.18%	13.37%
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 American Balanced Allocation Fund - Service Class advised by Lincoln Financial Investments Corporation	0.92%2	15.07%	6.24%	7.86%
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 - Service Class advised by Lincoln Financial Investments Corporation	1.02%2	9.33%	6.23%	N/A
Long-term capital growth, income is secondary objective.	LVIP American Century Large Company Value Fund - Service Class advised by Lincoln Financial Investments Corporation This fund will be reorganized to merge into the LVIP American Century Value Fund on or about June 5, 2026, subject to shareholders approval.	0.85%2	15.23%	9.84%	9.35%
Long-term capital growth.	LVIP American Century Ultra® Fund - Service Class advised by Lincoln Financial Investments Corporation	0.90%2	12.67%	11.52%	17.00%
Long-term capital growth; income is a secondary consideration.	LVIP American Century Value Fund - Service Class advised by Lincoln Financial Investments Corporation This fund will be available on or about May 11, 2026. Please consult your financial professional.	0.86%2	15.85%	11.47%	10.07%
A balance between a high level of current income and growth of capital. A fund of funds.	LVIP American Global Balanced Allocation Managed Risk Fund - Service Class advised by Lincoln Financial Investments Corporation	0.94%	12.43%	4.70%	6.06%
Long-term growth of capital. A master- feeder fund.	LVIP American Global Growth Fund - Service Class II advised by Lincoln Financial Investments Corporation	1.04%	21.23%	7.85%	11.76%

Investment Objective	Fund and Adviser/Sub-adviser1	Current Expenses	Average Annual Total Returns (as of 12/31/2025)
			1 year	5 year	10 year
Long-term capital appreciation.	LVIP Wellington SMID Cap Value Fund - Service Class advised by Lincoln Financial Investments Corporation	1.03%2	2.16%	8.97%	8.26%
Total return.	MFS® VIT Utilities Series - Service Class advised by Massachusetts Financial Services Company	1.03%2	14.76%	7.38%	9.22%
Long-term capital appreciation.	Nomura VIP Emerging Markets Series - Service Class	1.46%2	80.77%	8.48%	11.85%
Capital appreciation.	Nomura VIP Small Cap Value Series - Service Class	1.04%	7.83%	8.93%	8.84%

Appendix B - Investment Requirements

As long as the Guaranteed Withdrawal Benefit rider is in effect, you will be subject to Investment Requirements. This means you will be limited in how much you can invest in certain Subaccounts of your Contract. You must comply with the Investment Requirements during the period of time you own the rider (the minimum time period for ownership, if any, is specified in the termination section). After that period, if you no longer comply with the Investment Requirements, the rider will be terminated. We impose Investment Requirements to reduce the risk of investment losses that may require use to use our own assets to make guaranteed payments under the rider.

Certain of the underlying funds that are included in the Investment Requirements, including funds managed by an adviser affiliated with us, employ risk management strategies that are intended to control the funds' overall volatility, and for some funds, to also reduce the downside exposure of the funds during significant market downturns.

These funds are included under Investment Requirements in part because the reduction in volatility helps us reduce the risk of investment losses that may require us to use our own assets to make guaranteed payments under the rider. At the same time, risk management strategies in periods of high market volatility or other market conditions could limit your participation in market gains. This may conflict with your investment objectives by limiting your ability to maximize potential growth of your Contract Value and, in turn, the value of any guaranteed benefit that is tied to investment performance. You should consult with your financial professional to determine whether these funds align with your investment objectives. For more information about the funds and the investment strategies they employ, please refer to the funds' current prospectuses. Fund prospectuses are available by contacting us.

We have divided the Subaccounts of your Contract into groups and have specified the minimum or maximum percentages of Contract Value that must be in each group at the time you purchase the rider. The Investment Requirements may not be consistent with an aggressive investment strategy. You should consult with your financial professional to determine if the Investment Requirements are consistent with your investment objectives.

You can select the percentages of Contract Value to allocate to individual Subaccounts within each group, but the total investment for all Subaccounts within the group must comply with the specified minimum or maximum percentages for that group.

In accordance with these Investment Requirements, you agree to be automatically enrolled in the portfolio rebalancing option under your Contract and thereby authorize us to automatically rebalance your Contract Value on a periodic basis. On each quarterly anniversary of the effective date of the rider, we will rebalance your Contract Value in accordance with your allocation instructions in effect at the time of the rebalancing. Any reallocation of Contract Value among the Subaccounts made by you prior to a rebalancing date will become your allocation instructions for rebalancing purposes. If your allocation instructions do not comply with the Investment Requirements, portfolio rebalancing will be paused, and any subsequent transfer requests will be considered not in Good Order until updated allocation instructions are received. Confirmation of the rebalancing will appear on your quarterly statement and you will not receive an individual confirmation after each reallocation.

We may change the list of Subaccounts in a group, change the number of groups, change the minimum or maximum percentages of Contract Value allowed in a group, change the investment options that are or are not available to you, or change the rebalancing frequency at any time in our sole discretion. You will be notified at least 30 days prior to the date of any change. We may make such modifications at any time when we believe the modifications are necessary to protect our ability to provide the guarantees under these riders. Our decision to make modifications will be based on several factors, including the general market conditions and the style and investment objectives of the Subaccount investments.

At the time you receive notice of a change to the Investment Requirements, you may:

At this time, the Subaccount groups are as follows: 

Group 1 Investments must be at least 40% of Contract Value or Account Value.

LVIP BlackRock Inflation Protected Bond Fund

LVIP Fidelity Institutional AM® Total Bond Fund

LVIP Franklin Templeton Core Bond Fund

LVIP Government Money Market Fund

LVIP JPMorgan Short Duration Bond Fund

LVIP Mondrian Global Income Fund

LVIP Nomura Diversified Floating Rate Fund

LVIP State Street Bond Index Fund

 

Group 2 Investments cannot exceed 60% of Contract Value or Account Value.

Invesco V.I. EQV International Equity Fund

LVIP AllianceBernstein Large Cap Growth Fund

LVIP American Century Large Company Value Fund

LVIP American Century Ultra Fund

LVIP American Global Growth Fund

LVIP American Growth Fund

LVIP American Growth-Income Fund

LVIP American International Fund

LVIP Baron Growth Opportunities Fund

LVIP BlackRock Equity Dividend Fund

LVIP BlackRock Real Estate Fund

LVIP Dimensional U.S. Core Equity 1 Fund

LVIP Franklin Templeton Multi-Factor Emerging Markets Equity Fund

LVIP Franklin Templeton Multi-Factor International Equity Fund

LVIP Franklin Templeton Multi-Factor Large Cap Equity Fund

LVIP Franklin Templeton Multi-Factor SMID Cap Equity Fund

LVIP MFS International Growth Fund

LVIP MFS Value Fund

LVIP Mondrian International Value Fund

LVIP Nomura Mid Cap Value Fund

LVIP Nomura SMID Cap Core Fund

LVIP Nomura Social Awareness Fund

LVIP Nomura U.S. REIT Fund

LVIP State Street International Index Fund

LVIP State Street S&P 500 Index Fund

LVIP State Street Small-Cap Index Fund

LVIP T. Rowe Price Structured Mid-Cap Growth Fund

LVIP Wellington SMID Cap Value Fund

MFS VIT Utilities Series

Nomura VIP Emerging Markets Series

Nomura VIP Small Cap Value Series

The fixed accounts are not available with these riders.

As an alternative to satisfy these Investment Requirements, you may allocate 100% of your Contract Value among the funds listed below. If you allocate less than 100% of Contract Value among these funds, then the funds listed below that are also listed in Group 1 will be subject to Group 1 restrictions. Any remaining funds listed below that are not listed in Group 1 will fall into Group 2 and be

subject to Group 2 restrictions.  

LVIP American Balanced Allocation Fund

LVIP American Century Balanced Fund

LVIP American Global Balanced Allocation Managed Risk Fund

LVIP American Income Allocation Fund

LVIP BlackRock Global Allocation Fund

LVIP BlackRock Inflation Protected Bond Fund

LVIP Fidelity Institutional AM® Total Bond Fund

LVIP Franklin Templeton Core Bond Fund

LVIP Global Moderate Allocation Managed Risk Fund

LVIP Government Money Market Fund

LVIP JPMorgan Retirement Income Fund

LVIP JPMorgan Short Duration Bond Fund

LVIP Mondrian Global Income Fund

LVIP Nomura Diversified Floating Rate Fund

LVIP State Street Bond Index Fund

LVIP State Street Moderate Index Allocation Fund

LVIP Structured Moderate Allocation Fund