Updating Summary Prospectus (Form 497VPU)

TruStage® Horizon II Annuity

MEMBERS Horizon Variable Separate Account

Issued by:

MEMBERS Life Insurance Company

UPDATING SUMMARY PROSPECTUS FOR EXISTING INVESTORS

DATED MAY 1, 2026

This Updating Summary Prospectus summarizes key features of the TruStage® Horizon II Annuity, an

individual or joint owned, flexible premium deferred annuity contract with variable and index-linked

investment options. This prospectus also provides a summary of any Contract features that have

changed.

The prospectus for the Contract contains more information about the Contract's features, benefits, and

risks. You can find this document and other information about the Contract online at https://

www.trustage.com/regulatory-documents. You can also obtain this information at no cost by calling

1-800-798-5500 or by emailing [email protected].

Additional information about certain investment products, including index-linked and variable annuities,

has been prepared by the Securities and Exchange Commission's staff and is available at investor.gov/.

Neither the SEC nor any state securities commission has approved or disapproved of these

securities or determined if this Prospectus is truthful or complete. Any representation to the

contrary is a criminal offense.

TABLE OF CONTENTS

GLOSSARY	2
UPDATED INFORMATION ABOUT YOUR CONTRACT	4
KEY INFORMATION	4

APPENDIX: ALLOCATION OPTIONS AVAILABLE UNDER THE CONTRACT				A-1

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Are There Transaction Charges?	Yes. In addition to Surrender Charges and a Market Value Adjustment, you may also be charged for other transactions, such as transfers, wire transfers, use of express mail, providing a duplicate contract, and information previously provided to you that requires research on our part.				Fee Table Charges and Adjustments
Are There Ongoing Fees and Expenses?	Yes. The table below describes the fees and expenses that you may pay each year, depending on the investment options you choose. There is an implicit ongoing fee on the Risk Control Accounts to the extent that the Cap limits your participation in Index gains, which is not reflected in the tables below. This means your returns may be lower than the Index's returns; however, in exchange for accepting a Cap on Index gains, you receive some protection from Index losses through the Floor. Please refer to your Data Page for information about the specific fees you will pay each year based on the options you have elected.				Fee Table Charges and Adjustments
	Annual Fee		Minimum	Maximum
	Contract Fee (1)		1.50%	1.50%
	Fund Fees and Expenses(2)		0.13%	3.23%
	(1)As a percentage of average daily Variable Subaccount Value and as a percentage of the Risk Control Account Value at the start of the Risk Control Account Year, adjusted for any withdrawals. We do not assess a Contract Fee against Contract Value held in the Holding Account. (2)As a percentage of Fund 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 a negative Market Value Adjustment that substantially increase costs.
	Lowest Annual Cost: $1,364		Highest Annual Cost: $3,698
	Assumes: •$100,000 investment •5% annual appreciation •Least expensive combination of Fund fees and expenses •No additional purchase payments, transfers or withdrawals		•Assumes: •$100,000 investment •5% annual appreciation •Most expensive combination of Fund fees and expenses •No additional purchase payments, transfers or withdrawals
RISKS					Location in Prospectus

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Is There a Risk of Loss from Poor Performance?	Yes. You can lose money by investing in the Contract, including loss of principal and previously credited interest. You bear the entire investment risk of any amounts you allocate to the Variable Subaccounts. There is a risk of loss of principal and previously credited interest with the Growth Account of up to 10% (with a Floor of -10%) each Risk Control Account Year due to negative Index performance. During the life of your Contract, an Allocation Option with a Floor of 0% will always be available. Otherwise, we may add, change, or discontinue Allocation Options, including Indices and Funds underlying the Variable Subaccounts from time to time as described in this Prospectus. The remaining Allocation Options may have terms that are unacceptable to you and may not provide any protection from losses, which could result in the loss of the entire amount of your Contract Value.				Principal Risks of Investing in the Contract
Is this a Short- Term Investment?	No. The Contract is not a short-term investment and is not appropriate if you need ready access to cash. The benefits of tax deferral mean that the Contract is more beneficial if you have a long time horizon. Withdrawals and surrenders may be subject to a Surrender Charge, a Market Value Adjustment (which may be positive or negative) and federal and state income taxes, and, if taken before age 59½, a 10% additional tax. Withdrawals will also reduce the Death Benefit, perhaps by significantly more than the amount of the withdrawal. During the Accumulation Period, we will automatically rebalance your Contract Value among the Risk Control Accounts and/or Variable Subaccounts at the end of specific periods based on your most recent allocation instructions that we have on file.				Principal Risks of Investing in the Contract Charges and Adjustments Federal Income Tax Matters
What Are the Risks Associated with the Investment Options?	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. Each Investment Option, including the Holding Account, the Risk Control Accounts, and the Variable Subaccounts, has its own unique risks. You should review the Investment Options carefully before making an investment decision. With respect to the Risk Control Accounts, the Cap will limit positive Index returns. For example, if the Index performance for a Risk Control Account Year is 12%, and the Cap is 4%, we will credit 4% in interest at the end of that Risk Control Account Year. You may earn less than the Index performance as a result. The Floor will limit negative Index performance and thereby provide limited protection in the case of a market decline. For example, if the Index performance is -25% and the Floor for the Growth Account is -10%, we will credit -10% at the end of the Risk Control Account Year. Each Index is a "price return index." Therefore, performance of the relevant Index does not reflect dividends paid on the securities comprising the Index. This will reduce Index performance and will cause the Index to underperform a direct investment in the underlying securities.				Principal Risks of Investing in the Contract Variable Subaccount Option Risk Control Account Option Appendix A

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What Are the Risks Related to the Insurance Company?	An investment in the Contract is subject to the risks related to the Company. Any obligations (including under the Holding Account and the Risk Control Accounts), guarantees (such as the Death Benefit), or benefits are subject to the Company's claims-paying ability. More information about the Company, including its financial strength ratings, is available upon request by calling 1-800-798-5500.				Principal Risks of Investing in the Contract
RESTRICTIONS					Location in Prospectus
Are There Restrictions on the Investment Options?	Yes, as described below there are restrictions on certain features of Purchase Payments, allocations, transfers, withdrawals, and investment option features. The availability of Variable Subaccounts, Risk Control Accounts, Contract benefits, and other Contract features described in this Prospectus may vary by state and depending on the broker-dealer through which the Contract is sold.				Appendix A Appendix B
	Purchase Payments and Allocations. We may refuse or limit the amount and frequency of additional Purchase Payments and the amount and frequency of allocations to the Risk Control Accounts. The Risk Control Account investment options are not available within six years of the Payout Date. Subaccounts that invest in certain Funds may no longer be available for new investments, as identified in Appendix A.				Allocating Your Purchase Payments Risk Control Account Option Appendix A
	Allocations, Transfers, and Withdrawals. Only one Risk Control Account Period can be in force at any time. Once you have established a Risk Control Account, you may not allocate your subsequent Purchase Payments or make transfers to a new Risk Control Account until the existing Risk Control Account matures at the end of six years. You may not allocate subsequent Purchase Payments to existing Risk Control Accounts (other than during 30 days prior to the Risk Control Account Maturity Date). Contract Value in the Holding Account cannot be transferred to the Variable Subaccounts. Contract Value in the Risk Control Accounts can only be transferred to the Variable Subaccount options on the Risk Control Account Maturity Date. Partial withdrawals from the Risk Control Accounts are not permitted while there is Variable Subaccount Value, except for withdrawals from the Risk Control Accounts on the Risk Control Account Maturity Date (the end of each six-year Risk Control Account Period). We reserve the right, at our discretion, to restrict transfers into the Risk Control Account if the Cap for your Risk Control Account is less than the rate specified in the Bailout Provision (as shown on your Contract Data Page).				Allocating Your Purchase Payments Risk Control Account Option

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	Changes to Investment Options and Features. For each Risk Control Account, we set a Cap for the first Risk Control Account Year, which is made available at least two weeks in advance of the Risk Control Account Start Date. We may set a new Cap prior to each Risk Control Account Anniversary for the subsequent Risk Control Account Year and will send you written notice at least two weeks prior to the Risk Control Account Anniversary. The Caps will always be a minimum of 1%. During the life of your Contract, an Allocation Option with a Floor of 0% will always be available. Otherwise, we may add, change, or discontinue Allocation Options, including Indices and Funds underlying the Variable Subaccounts from time to time as described in this Prospectus. The remaining Allocation Options may have terms that are unacceptable to you and may not provide any protection from losses, which could result in the loss of the entire amount of your Contract Value. If there is a delay between the date we remove an Index for a Risk Control Account and the date we add a substitute Index, your Risk Control Account Value will be based on the value of the Index on the date the Index ceased to be available, which means market changes during the delay will not be used to calculate the index interest.				Risk Control Account Option Variable Subaccount Option
Are There any Restrictions on Contract Benefits?	Yes. Express Portfolios are only available at the time of purchase, and you must allocate all of your Purchase Payment to your selected Express Portfolio. Systematic Withdrawals may be taken on a monthly, quarterly, semi-annual, or annual basis. The withdrawals must be at least $100 each. Unless taken to satisfy required minimum distributions, a Market Value Adjustment may be applied to Systematic Withdrawals taken from a Risk Control Account. If the Systematic Withdrawal exceeds the Annual Free Withdrawal Amount, the Surrender Charge also may apply.				Benefits Available under the Contract
TAXES					Location in Prospectus
What Are the Contract's Tax Implications?	You should consult with a tax professional to determine the tax implications the Contract. There is no additional tax benefit if you purchase the Contract through a qualified retirement plan or individual retirement account (IRA). Withdrawals from the Contract are subject to ordinary income tax, and may be subject to a 10% additional tax if taken before age 59½.				Federal Income Tax Matters
CONFLICTS OF INTEREST					Location in Prospectus

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How Are Investment Professionals Compensated?	Some investment professionals (also referred to as "financial professionals" in this prospectus) may receive compensation for selling the Contract to you in the form of commissions or other compensation. These other forms of compensation may include cash bonuses, insurance benefits and financing arrangements. Non-cash benefits may include conferences, seminars and trips (including travel, lodging and meals in connection therewith), entertainment, merchandise and other similar items. The Company may also pay asset-based commissions (sometimes called trail commissions) in addition to Purchase Payment-based commissions. Investment professionals may also receive other payments from us for services that do not directly involve the sale of the Contracts, including personnel recruitment and training, production of promotional literature and similar services. As a result of these compensation arrangements, investment professionals may have a financial incentive to offer or recommend the Contract over another investment. You should ask your investment professional for additional information about the compensation he or she receives in connection with your purchase of the Contract.				Other Information - Distribution of the Contract
Should I Exchange My Contract?	You should only exchange your contract if you determine, after comparing the features, fees, and risks of both contracts, and any fees or penalties to terminate your existing contract, that it is better for you to purchase the new contract rather than continue to own your existing contract. Some investment professionals may have a financial incentive to offer you a new contract in place of the one you already own.				Getting Started - The Accumulation Period - Tax Free 1035 Exchanges

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Long-term growth of capital	American Funds IS International Fund (Class 1) Capital Research and Management Company (Adviser)	0.53%	27.04%	3.66%	7.26%
High total investment return	BlackRock Global Allocation V.I. Fund (Class I) BlackRock Advisors, LLC (Adviser) BlackRock International Limited BlackRock (Singapore) Limited (Sub-Adviser)	0.85%	19.80%	5.79%	7.59%
High total return through current income and, secondarily, through capital appreciation	Columbia VP Emerging Markets Bond Fund (Class 1) Columbia Management Investment Advisers, LLC (Adviser)	0.76%	12.78%	1.70%	4.28%
To achieve long-term capital appreciation	Dimensional VA International Small Portfolio Dimensional Fund Advisors LP (Adviser) Dimensional Fund Advisors Ltd. (Sub-Adviser) DFA Australia Limited (Sub-Adviser)	0.39%	36.99%	8.89%	8.68%
To achieve long-term capital appreciation	Dimensional VA International Value Portfolio Dimensional Fund Advisors LP (Adviser) Dimensional Fund Advisors Ltd. (Sub-Adviser) DFA Australia Limited (Sub-Adviser)	0.27%	45.64%	15.85%	10.46%
To achieve long-term capital appreciation	Dimensional VA U.S. Large Value Portfolio Dimensional Fund Advisors LP (Adviser)	0.21%	15.83%	11.97%	10.51%
To achieve long-term capital appreciation	Dimensional VA U.S. Targeted Value Portfolio Dimensional Fund Advisors LP (Adviser)	0.29%	8.95%	13.60%	11.00%
Long-term capital growth	Templeton Foreign VIP Fund (Class 1) Templeton Investment Counsel, LLC (Adviser)	0.84%	29.51%	8.52%	6.01%
High current income, consistent with preservation of capital; capital appreciation is a secondary objective	Templeton Global Bond VIP Fund (Class 1) (4) Franklin Advisors, Inc. (Adviser)	0.53%	16.09%	-0.69%	0.11%
Seeks a total return consisting of capital appreciation and income	Goldman Sachs VIT Core Fixed Income Trust (Institutional) Goldman Sachs Asset Management, L.P. (Adviser)	0.60%	7.46%	-0.57%	2.11%

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Maximize current income to extent consistent with preservation of capital and maintenance of liquidity by investing exclusively in high quality money market instruments	Goldman Sachs VIT Government Money Market (Institutional) Goldman Sachs Asset Management, L.P. (Adviser)	0.19%	4.20%	3.18%	2.11%
Long-term capital appreciation	Lazard Retirement Emerging Markets Equity Portfolio (Investor)(3) Lazard Asset Management LLC (Adviser)	1.14%	42.12%	11.04%	9.63%
Total return with emphasis on current income, but also considering capital appreciation	MFS Total Return Bond Series (Initial Class) Massachusetts Financial Services Company (Adviser)	0.54%	7.17%	0.15%	2.63%
Total return	MFS Utilities Series (Initial Class) Massachusetts Financial Services Company (Adviser)	0.79%	15.01%	7.64%	9.49%
Capital appreciation	MFS Value Series (Initial Class) Massachusetts Financial Services Company (Adviser)	0.72%	13.01%	9.95%	10.05%
Capital appreciation	MFS Blended Research Small Cap Equity Portfolio (Initial Class) Massachusetts Financial Services Company (Adviser)	0.59%	5.76%	6.92%	9.10%
Long-term capital appreciation by investing primarily in growth-oriented equity securities of large capitalization companies	Morgan Stanley Variable Insurance Fund, Inc. Growth Portfolio (Class I) Morgan Stanley Investment Management Inc. (Adviser)	0.57%	35.72%	3.41%	17.76%
Capital appreciation	TOPS Aggressive ETF Portfolio (Class 1)(1) (f/k/a TOPS Aggressive Growth ETF Portfolio) ValMark Advisers, Inc. (Adviser)	0.29%	19.17%	9.69%	10.71%
Income and capital appreciation	TOPS Balanced ETF Portfolio (Class 1)(1) ValMark Advisers, Inc. (Adviser)	0.29%	13.17%	5.79%	6.66%
Preserve capital and provide moderate income and moderate capital appreciation	TOPS Conservative ETF Portfolio (Class 1)(1) ValMark Advisers, Inc. (Adviser)	0.31%	10.39%	4.61%	5.25%
Capital appreciation	TOPS Moderately Aggressive ETF Portfolio (Class 1)(1) (f/k/a TOPS Growth ETF Portfolio) ValMark Advisers, Inc. (Adviser)	0.29%	18.31%	8.85%	9.80%

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Capital appreciation	TOPS Moderate ETF Portfolio (Class 1)(1) (f/k/a TOPS Moderate Growth ETF Portfolio) ValMark Advisers, Inc. (Adviser)	0.29%	15.50%	7.20%	8.26%
Maximum real return, consistent with prudent investment management	PIMCO Commodity Real Return Strategy Portfolio (Institutional Class) Pacific Investment Management Company LLC (Adviser)	3.23%	19.07%	10.72%	6.70%
Maximum real return, consistent with preservation of real capital and prudent investment management	PIMCO VIT All Asset Portfolio (Institutional Class) Pacific Investment Management Company LLC (Adviser)	2.07%	14.34%	5.77%	6.93%
Maximum real return, consistent with preservation of real capital and prudent investment management	PIMCO VIT Real Return Portfolio (Institutional Class) Pacific Investment Management Company LLC (Adviser)	1.24%	8.01%	1.36%	3.37%
Seeks high current income. Capital growth is a secondary goal when consistent with achieving high current income	Putnam VT High Yield Fund (IA) Franklin Advisers, Inc. (Adviser) Putnam Investment Management, LLC and Franklin Templeton Investment Management limited (Sub- advisers)	0.73%	8.86%	4.28%	5.94%
Long-term capital growth; income is a secondary objective	T. Rowe Price Blue Chip Growth Portfolio (Class I) T. Rowe Price Associates (Adviser)	0.74%	18.74%	11.68%	15.54%
Long-term capital appreciation, using a fundamental approach to invest in growth-oriented companies at attractive valuation level	Vanguard VIF - PRIMECAP Portfolio (f/k/a Vanguard VIF Capital Growth Portfolio) PRIMECAP Management Company (Adviser)	0.34%	28.98%	13.97%	14.96%
Long-term capital appreciation and income growth, with reasonable current income	Vanguard VIF Diversified Value Portfolio Hotchkis and Wiley Capital Management, LLC and Lazard Asset Management LLC (Subadvisers)	0.28%	16.83%	13.24%	11.76%
Seeks to track the investment performance of the Standard & Poor's 500 Index, an unmanaged benchmark representing U.S. large-capitalization stocks	Vanguard VIF Equity Index Portfolio The Vanguard Group, Inc. (Adviser)	0.14%	17.70%	14.27%	14.66%
High and sustainable level of current income by investing primarily in below-investment-grade corporate securities offering attractive yields	Vanguard VIF High Yield Bond Portfolio The Vanguard Group, Inc. (Adviser) Wellington Management Company LLP (Subadviser)	0.24%	9.18%	4.05%	5.62%

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This Updating Summary Prospectus incorporates by reference the Prospectus and Statement of

Additional Information for the Contract, both dated May 1, 2026, as supplemented. The SAI may be

obtained, free of charge, in the same manner as the Prospectus.

EDGAR Contract Identifiers: C000205472 (VA) and C000256710 (RILA)