Everlake Financial Advisors Separate Account I

09/25/2026 | Press release | Distributed by Public on 09/25/2026 07:47

Prospectus by Investment Company (Form 497)

The Advisor Variable Annuities
(Advisor, Advisor Plus, Advisor Preferred)
Everlake Financial Advisors Separate Account I
EVERLAKE LIFE INSURANCE COMPANY
Supplement dated September 25, 2026
to Prospectus dated May 1, 2026
This supplement contains information about changes to Variable Investment Options available in your annuity contract ("Contract") issued by Everlake Life Insurance Company.
Investment Option Update
This Supplement is to inform you that there were changes to Current Expenses for variable investment options that are available in your Annuity. You may not have funds invested in the Portfolios being referenced below, but you are receiving this Supplement because the Portfolios are available to you.
Portfolio Fee Changes:
Effective September 4, 2026 (the "Effective Date"), the Current Expenses listed in the table in "Appendix A - Investment Options Available Under the Contract" were restated for the following Portfolio Companies as shown below. The Fund Type, Advisor/Subadvisors, and Average Annual Total Returns appearing in "Appendix A" for the Portfolios were not changed.
Portfolio Company
Current Expenses
Putnam VT Global Asset Allocation Fund - Class IB♦
0.86%
Putnam VT Government Money Market Fund - Class IB♦
0.61%
♦ This information includes annual expenses that reflect temporary or other fee reductions or waivers. Please see the Portfolio prospectus for additional information.
You may wish to consult with your financial professional to determine if your existing allocation instructions should be changed.
If you have any questions or would like another copy of the current Contract or Portfolio Prospectus, please call us at 1-800-457-7617.
Please keep this supplement together with your prospectus for future reference.
No other action is required of you.
ELIC_SUP3
The Putnam Advisor Variable Annuities
(Advisor, Advisor Plus, Advisor Preferred)
Everlake Financial Advisors Separate Account I
EVERLAKE LIFE INSURANCE COMPANY
Supplement dated September 25, 2026
to Prospectus dated May 1, 2026
This supplement contains information about changes to Variable Investment Options available in your annuity contract ("Contract") issued by Everlake Life Insurance Company.
Investment Option Update
This Supplement is to inform you that the Current Expenses for Putnam VT Global Asset Allocation Fund - Class IB and Putnam VT Government Money Market Fund - Class IB were revised. You may not have funds invested in these Portfolios, but you are receiving this Supplement because the Portfolios are available to you.
As a result, effective September 4, 2026 (the "Effective Date"), revisions have been made to the following sections in the prospectus.
1. Key Information:
The following replaces the Portfolio Company fees and expenses in the "Are There Ongoing Fees and Expenses?" section under "Fees, Expenses, and Adjustments."
Annual Fee
Minimum
Maximum
Portfolio Company fees and expenses
0.61%
1.71%
The following replaces the Lowest Annual Cost in the "Are There Ongoing Fees and Expenses?" section under "Fees, Expenses, and Adjustments."
Lowest Annual Cost:
Putnam Advisor $1,902
Putnam Advisor Plus $2,259
Putnam Advisor Preferred $2,310
2. Fee Table:
The following replaces the Annual Portfolio Company Expenses table and the Examples:
Annual Portfolio Company Expenses
Minimum
Maximum
(expenses that are deducted from Portfolio assets, including management fees, distribution and/or services (12b-1) fees, and other expenses)
0.61%
1.71%
ELIC_SUP4
EXAMPLE
This Example is intended to help you compare the cost of investing in the Contracts with the cost of investing in other variable annuity contracts. These costs include transaction expenses, annual Contract expenses, and Annual Portfolio Company Expenses.
The Example assumes that you invest $100,000 in the Variable Options in your Contract for the time periods indicated. The Example also assumes that your investment has a 5% return each year and assumes the most expensive combination of Annual Portfolio Company Expenses and optional benefits available for an additional charge. These optional benefits include the Retirement Income Guarantee Option 2 and the Earnings Protection Death Benefit Option for a person age 66 or more. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
PUTNAM ADVISOR
Assuming maximum fees and expenses of any of the portfolios available with the benefit
Assuming minimum fees and expenses of any of the portfolios available with the benefit
1 Yr
3 Yrs
5 Yrs
10 Yrs
1 Yr
3 Yrs
5 Yrs
10 Yrs
If you surrender your Contract at the end of the applicable time period:
$11,089
$18,407
$24,918
$43,065
$9,982
$15,152
$19,605
$33,073
If you annuitize your Contract at the end of the applicable time period:
$4,089
$12,407
$20,918
$43,065
$2,982
$9,152
$15,605
$33,073
If you do not surrender or annuitize your Contract at the end of the applicable time period:
$4,089
$12,407
$20,918
$43,065
$2,982
$9,152
$15,605
$33,073
PUTNAM ADVISOR PLUS
Assuming maximum fees and expenses of any of the portfolios available with the benefit
Assuming minimum fees and expenses of any of the portfolios available with the benefit
1 Yr
3 Yrs
5 Yrs
10 Yrs
1 Yr
3 Yrs
5 Yrs
10 Yrs
If you surrender your Contract at the end of the applicable time period:
$12,442
$21,430
$28,561
$46,024
$11,339
$18,210
$23,347
$36,420
If you annuitize your Contract at the end of the applicable time period:
$4,442
$13,430
$22,561
$46,024
$3,339
$10,210
$17,347
$36,420
If you do not surrender or annuitize your Contract at the end of the applicable time period:
$4,442
$13,430
$22,561
$46,024
$3,339
$10,210
$17,347
$36,420
PUTNAM ADVISOR PREFERRED
Assuming maximum fees and expenses of any of the portfolios available with the benefit
Assuming minimum fees and expenses of any of the portfolios available with the benefit
1 Yr
3 Yrs
5 Yrs
10 Yrs
1 Yr
3 Yrs
5 Yrs
10 Yrs
If you surrender your Contract at the end of the applicable time period:
$6,492
$13,576
$22,794
$46,438
$5,390
$10,361
$17,594
$36,888
If you annuitize your Contract at the end of the applicable time period:
$4,492
$13,576
$22,794
$46,438
$3,390
$10,361
$17,594
$36,888
If you do not surrender or annuitize your Contract at the end of the applicable time period:
$4,492
$13,576
$22,794
$46,438
$3,390
$10,361
$17,594
$36,888
ELIC_SUP4
3. Appendix A - Investment Options Available Under the Contract:
The following replaces the Current Expenses listed in the table in "Appendix A" for the following Portfolio Companies. The Fund Type, Advisor/Subadvisors, and Average Annual Total Returns appearing in "Appendix A" for the Portfolios did not change.
Portfolio Company
Current Expenses
Putnam VT Global Asset Allocation Fund - Class IB♦
0.86%
Putnam VT Government Money Market Fund - Class IB♦
0.61%
♦ This information includes annual expenses that reflect temporary or other fee reductions or waivers. Please see the Portfolio prospectus for additional information.
You may wish to consult with your financial professional to determine if your existing allocation instructions should be changed.
If you have any questions or would like another copy of the current Contract or Portfolio Prospectus, please call us at 1-800-457-7617.
Please keep this supplement together with your prospectus for future reference.
No other action is required of you.
ELIC_SUP4
Everlake Financial Advisors Separate Account I published this content on September 25, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on September 25, 2026 at 13:47 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]