Updating Summary Prospectus (Form 497VPU)

Glossary

Updated Information About Your Contract

Important Information You Should Consider About The Contract

Appendix A: Investment Options Available Under The Contract

As previously notified, on or about May 20, 2026 (the "Liquidation Date"), the Lazard Retirement US Small Cap Equity Select Portfolio (the "Liquidating Fund") will be liquidated. On the Liquidation Date, any Contract Value allocated to the Liquidating Fund will be automatically transferred to the Federated Hermes Government Money Fund II. Any such transfer will occur without charge and will not count toward any limit on transfers. Until the Liquidation Date, you may transfer any Contract Value allocated to the Liquidating Fund to any other variable investment option available under your Contract free of charge. For 60 days after the Liquidation Date, if any portion of your Contract Value was automatically transferred to the Federated Hermes Government Money Fund II as described above, you may transfer Contract Value from the Federated Hermes Government Money Fund II to any other variable investment option available under your Contract free of charge. Any such free transfer will not count toward any limit on the number of transfers that may be performed under your Contract (except restrictions to discourage frequent transfer activity and/or market timing).

Yes. If you withdraw money from your contract, you may be assessed a surrender charge. The surrender charge, and the length of the surrender charge period, varies among the different contract classes offered in this prospectus. For the Big Edge, Big Edge Plus, and Group Strategic Edge (allocated) contracts, the maximum surrender charge is 6% as a percentage of purchase payments withdrawn and a surrender charge applies during the first six years after a purchase payment was made. For the Group Strategic Edge (unallocated) contract, the maximum surrender charge is 6% as a percentage of purchase payments withdrawn and a surrender charge applies during the first ten years after a purchase payment was made. For the Big Edge Choice for New York contract, the maximum surrender charge is 7% as a percentage of purchase payments withdrawn and a surrender charge applies during the first seven years after a purchase payment was made.

For example, if you withdraw a $100,000 purchase payment during the first year that the purchase payment was made, you could be assessed a charge of up to $7000 on the purchase payment being withdrawn under the Big Edge Choice for New York contract ($6000 under the Big Edge, Big Edge Plus, and Group Strategic Edge contracts). This loss will be greater if there are taxes or tax penalties.

Fee Table;

Deductions and Charges-Surrender Charges

Fee Table;

Deductions and Charges-Charges for Administrative Services

Are There Ongoing Fees and Expenses?

Fee Table;

Deductions and Charges;

Appendix A: Investment Options Available under the Contract

(1)      Assessed as a percentage of average Account Value, plus an amount attributable to the Annual Administrative Charge.

(2)      As a percentage of underlying fund assets. Underlying fund fees are as of 12/31/25. Underlying fund fees can vary from year to year.

(3)      Assessed as a percentage of the greater of the guaranteed annuitization value and Contract Value.

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 that substantially increase costs.

$1,443 (for Big Edge, Big
Edge Plus, Group
Strategic Edge (allocated),
and Group Strategic Edge
(unallocated))

$1,1551 (for Big Edge
Choice for New York)

$5,210 (for Big Edge, Big
Edge Plus, Group
Strategic Edge (allocated),
and Group Strategic Edge
(unallocated))

$5,274 (for Big Edge
Choice for New York)

Assumes:

●      Investment of $100,000

●      5% annual appreciation

●      Least expensive combination of contract classes and Underlying funds fees and expenses

●      No optional benefits

●      No sales charges

●      No additional purchase payments, transfers, or withdrawals

Assumes:

●      Investment of $100,000

●      5% annual appreciation

●      Most expensive combination of contract classes, optional benefits and Underlying funds fees and expenses

●      No sales charges

●      No additional purchase payments, transfers, or withdrawals

No.

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

●          Amounts withdrawn from the contract may result in surrender charges, taxes, and tax penalties.

●          A purchase payment being withdrawn is subject to a surrender charge, until several years have passed since the purchase payment was made.

●          Surrender charges will reduce the value of your contract if you withdraw money during the surrender charge period.

●          The benefits of tax deferral also mean the contract is more beneficial to investors with a long time horizon.

Principal Risks of Investing in the Contract;

Deductions and Charges-Surrender Charges;

Federal Income Taxes

●          An investment in the contract is subject to the risk of poor investment performance and can vary depending on the performance of the investment options available under the contract (e.g., portfolio companies).

●          Each investment option (including the GIA) will have its own unique risks, and you should review the available investment options before making an investment decision.

Principal Risks of Investing in the Contract;

GIA;

Appendix A: Investment Options Available Under The Contract

Principal Risks of Investing in the Contract;

Nassau Life and the Separate Account

Yes.

●          Nassau Life reserves the right to remove or substitute variable investment options available under the contract.

●          Transfers to and from the GIA are subject to significant limitations.

●         We reserve the right to limit transfers if frequent or large transfers occur.

●         The availability of investment options may vary depending on the broker-dealer through which your contract was purchased.

Nassau Life And The Separate Account;

GIA;

Market Timing And Other Disruptive Trading;

Appendix B: Financial Intermediary Variations

Yes.

●          The benefit provided by the GMIB rider is not available until the later of 7 years after the rider is added to the contract or the contract anniversary following the older annuitant's 60th birthday.

●          GMIB is irrevocable, once elected.

●          You may not change any Annuitant while the GMIB is in effect.

●          Withdrawals made after the GMIB rider date, including loans, can reduce the benefit value by more than the amount withdrawn and could terminate the benefit.

●          Withdrawals and loans may significantly reduce the death benefit.

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

●          The availability of contract benefits may vary depending on the broker-dealer through which your contract was purchased.

Benefits Available under the Contract;

Guaranteed Minimum Income Benefit Rider ("GMIB");

Payment Upon Death Before Maturity Date;

Appendix B: Financial Intermediary Variations

●          You should consult with a tax professional to determine the tax implications of an investment in and payments received under the contract.

●          If you purchase the contract through a qualified retirement plan or individual retirement account (IRA), you do not receive any additional tax benefit.

●          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.

To compensate those who have sold a contract, we generally pay compensation as a percentage of purchase payments invested in the contract. Alternatively, we may pay lower compensation on purchase payments but pay periodic, asset-based compensation in all or some years based on all or a portion of the contract value. To the extent permitted by FINRA rules, overrides and promotional incentives or cash and non-cash payments also may be provided to the broker-dealer through which a contract has been sold, based on sales volumes, the assumption of wholesaling functions, or other sales-related criteria. Additional payments may be made for other services not directly related to the sale of the contract, including the recruitment and training of personnel, production of promotional literature and similar services. The existence of these compensation arrangements can create a conflict of interest that potentially could influence a registered representative to recommend this contract over another investment.