Lincoln Life Variable Annuity Account N

04/24/2026 | Press release | Distributed by Public on 04/24/2026 08:42

Updating Summary Prospectus (Form 497VPU)

Lincoln Investor Advantage® Pro Individual Variable Annuity Contracts  
Updating Summary Prospectus for Current Contractowners

May 1, 2026
This updating summary prospectus summarizes certain changes to key features of the Lincoln Investor Advantage® Pro variable annuity contract issued by The Lincoln National Life Insurance Company (Lincoln Life or Company).
You should read this updating summary prospectus carefully, particularly the section titled Important Information You Should Consider about the Lincoln Investor Advantage® Pro contract.
The prospectus for the Lincoln Investor Advantage® Pro 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 1-888-868-2583 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, 2025. 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:
Purchase Payments. You must obtain our approval for Purchase Payments totaling $5 million or more where the only optional benefits elected are the Account Value Death Benefit and/or i4LIFE® Advantage without the Guaranteed Income Benefit and $1 million or more for all other contracts. At the Company's discretion, either amount may consider total Purchase Payments for all annuity contracts issued by the Company (or its affiliates) for the same Contractowner, joint owner, and/or Annuitant.
Summary of Changes to Benefits Available Under the Contract:
Appendix B - Investment Requirements. This section should be reviewed for any updates to the Investment Requirements that may be applicable to your Contract.
Summary of Investment Option Changes:
The following is a summary of changes to the investment options available under the Contract. Additional information including investment objectives, current expenses and average annual total returns is available in Appendix A - Investment Options Available Under The Contract.
Fund Addition(s):
●
LVIP American Funds Vanguard Active Passive Growth Fund (Service Class)
The following fund(s) will be available on or about May 18, 2026. Please consult your registered representative.
●
LVIP ClearBridge Appreciation Fund (Service Class)
●
LVIP ClearBridge Dividend Strategy Fund (Service Class)
●
LVIP ClearBridge Large Cap Value Fund (Service Class)
Fund Name Changes:
  
Former Fund Name
New Fund Name
ClearBridge Variable Large Cap Growth Portfolio
LVIP ClearBridge Large Cap Growth Fund
Invesco Oppenheimer V.I. International Growth Fund
Invesco V.I. International Growth Fund
LVIP American Century Disciplined Core Value Fund
LVIP Avantis Large Cap Value Fund
LVIP Macquarie Bond Fund
LVIP Franklin Templeton Core Bond Fund
LVIP Macquarie Diversified Floating Rate Fund
LVIP Nomura Diversified Floating Rate Fund
LVIP Macquarie High Yield Fund
LVIP Nomura High Yield Fund
LVIP Macquarie Mid Cap Value Fund
LVIP Nomura Mid Cap Value Fund
LVIP Macquarie SMID Cap Core Fund
LVIP Nomura SMID Cap Core Fund
LVIP Macquarie Social Awareness Fund
LVIP Nomura Social Awareness Fund
LVIP Macquarie U.S. Growth Fund
LVIP Nomura U.S. Growth Fund
LVIP Macquarie U.S. REIT Fund
LVIP Nomura U.S. REIT Fund
LVIP SSGA Bond Index Fund
LVIP State Street Bond Index Fund
2
Former Fund Name
New Fund Name
LVIP SSGA Conservative Index Allocation Fund
LVIP State Street Conservative Index Allocation Fund
LVIP SSGA Emerging Markets Equity Index Fund
LVIP State Street Emerging Markets Equity Index Fund
LVIP SSGA International Index Fund
LVIP State Street International Index Fund
LVIP SSGA Mid-Cap Index Fund
LVIP State Street Mid-Cap Index Fund
LVIP SSGA Moderate Index Allocation Fund
LVIP State Street Moderate Index Allocation Fund
LVIP SSGA Moderately Aggressive Index Allocation Fund
LVIP State Street Moderately Aggressive Index Allocation Fund
LVIP SSGA Nasdaq-100 Fund
LVIP State Street Nasdaq-100 Index Fund
LVIP SSGA S&P 500 Index Fund
LVIP State Street S&P 500 Index Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP State Street Short-Term Bond Index Fund
LVIP SSGA Small-Cap Index Fund
LVIP State Street Small-Cap Index Fund
Macquarie VIP Asset Strategy Series
Nomura VIP Asset Strategy Series
Macquarie VIP Emerging Markets Series
Nomura VIP Emerging Markets Series
Macquarie VIP Energy Series
Nomura VIP Energy Series
Macquarie VIP High Income Series
Nomura VIP High Income Series
Macquarie VIP Mid Cap Growth Series
Nomura VIP Mid Cap Growth Series
Macquarie VIP Science and Technology Series
Nomura VIP Science and Technology Series
Macquarie VIP Small Cap Growth Series
Nomura VIP Small Cap Growth Series
Macquarie VIP Small Cap Value Series
Nomura VIP Small Cap Value Series
MFS® VIT II International Intrinsic Value Portfolio
MFS International Intrinsic Equity Portfolio
 
 
Fund Reorganizations:
●
The LVIP Western Asset Core Bond Fund was reorganized into the LVIP Franklin Templeton Core Bond Fund on October 31, 2025.
The following fund reorganization(s) will take place on or about June 5, 2026. Please consult your registered representative.
●
The LVIP American Century Large Company Value Fund will be reorganized to merge into the LVIP American Century Value Fund, subject to shareholders approval.
3
Important Information You Should Consider About the Lincoln Investor Advantage® Pro Variable Annuity Contract 
FEES, EXPENSES, AND ADJUSTMENTS
Location in
Prospectus
Are There
Charges or
Adjustments for
Early
Withdrawals?
Yes:
A surrender charge may apply to a surrender or withdrawal of a Purchase Payment prior
to the 5th anniversary (B-Share) since the Purchase Payment was invested, up to 7% of
the amount withdrawn, declining to 0% over that time period. For example, if you
purchase a B-Share contract and make a withdrawal of $100,000 during the first year
after your Purchase Payment, you could be assessed a charge of up to $7,000 on the
Purchase Payment withdrawn. This loss will be greater if there are taxes or tax penalties.
A surrender charge will not apply if your withdrawal is made after the 5th anniversary
(B-Share) since a Purchase Payment was invested.
The C-Share contract does not have surrender charges.
●Fee Tables
●Fee Tables -
Examples
●Charges, Other
Deductions,
and
Adjustments -
Surrender
Charge
Are There
Transaction
Charges?
No:
The Contract does not impose any transaction charges other than surrender charges
(B-Share contracts only).
●Charges, Other
Deductions,
and
Adjustments
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 and
optional benefits 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.
●Fee Tables
●Fee Tables -
Examples
●Charges, Other
Deductions,
and
Adjustments
Annual Fee
Minimum
Maximum
Base Contract - Account Value Death
Benefit
0.96%1
1.26%1
Fund fees and expenses
0.48%2
2.76%2
Optional benefits available for an
additional charge (for a single optional
benefit, if elected)
0.25%1
1.70%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 fund net assets, before expense reimbursements or fee waiver arrangements.
3 As a percentage of the greater of the Contract Value or the sum of all Purchase Payments
(as adjusted for withdrawals).
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, which could add surrender charges that substantially
increase costs.
Lowest Annual Cost: $1,713
Highest Annual Cost: $5,895
Assumes:
Assumes:
4
FEES, EXPENSES, AND ADJUSTMENTS
Location in
Prospectus
●Investment of $100,000
●5% annual appreciation
●Least expensive combination of
contract class, fund fees and expenses
●No optional benefits
●No surrender charges
●No additional Purchase Payments,
transfers, or withdrawals
●Investment of $100,000
●5% annual appreciation
●Most expensive combination of
contract class, optional benefits, fund
fees and expenses
●No surrender charges
●No additional Purchase Payments,
transfers, or withdrawals
RISKS
Location in
Prospectus
Is There a Risk of
Loss From Poor
Performance?
Yes:
●You can lose money by investing in this Contract, including loss of principal.
●Principal Risks
●Investments of
the Variable
Annuity
Account
Is This a Short-
Term Investment?
No:
●This Contract is not designed for short-term investing and is not appropriate for the
investor who needs ready access to cash.
●A surrender or withdrawal from a B-Share Contract may result in surrender charges.
Any surrender charge will reduce the value of your Contract or the amount of money
that you actually receive.
●The benefits of tax deferral, long-term income, and living benefit protections mean
the Contract is more beneficial to investors with a long-term investment horizon.
●Surrenders and withdrawals are subject to ordinary income tax and may be subject
to tax penalties.
●Fee Tables
●Principal Risks
●Charges, Other
Deductions,
and
Adjustments
●Surrenders and
Withdrawals
●Death Benefits
●Fixed Side of
the Contract
What are the
Risks Associated
With the
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 available investment options before making an investment
decision.
●The availability of investment options may vary depending on the broker-dealer
through which the Contract is sold.
●Principal Risks
●Investments of
the Variable
Annuity
Account
●Fixed Side of
the Contract
What are the
Risks Related to
the Insurance
Company?
●An investment in the Contract is subject to the risks related to Lincoln Life. 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
Life, including our financial strength ratings, is available upon request by calling 1-
888-868-2583 or visiting www.LincolnFinancial.com.
●Principal Risks
●Fixed Side of
the Contract
5
RESTRICTIONS
Location in
Prospectus
Are There
Restrictions on
the Investment
Options?
Yes:
●Not all investment options may be available for investment under your Contract.
●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, if
available.
●We reserve the right to remove or substitute any funds as investment options that
are available under the Contract.
●You are generally restricted to no more than 12 transfers between investment options
per Contract Year. Your ability to transfer between investment options may also be
restricted as a result of Investment requirements if you have elected an optional
benefit.
●Principal Risks
●Investments of
the Variable
Annuity
Account
●Fixed Side of
the Contract
●Appendix A -
Investment
Options
Available
Under the
Contract
Are There any
Restrictions on
Contract
Benefits?
Yes:
●Optional benefits may have limitations or restrictions, including the investment
options that you may select under the Contract. We may change these restrictions in
the future.
●We may modify or stop offering an optional benefit that is currently available at any
time.
●Optional benefit availability may vary by state of issue or selling broker-dealer.
●If you elect certain optional benefits, you may be limited in the amount of Purchase
Payments that you can make (and when).
●The Contracts
●Death Benefits
●Appendix B -
Investment
Requirements
●Appendix C -
Broker-Dealer
Material
Variations
TAXES
Location in
Prospectus
What are the
Contract's 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 may be 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
How are
Investment
Professionals
Compensated?
●Your registered representative may receive compensation for selling this Contract to
you, both in the form of commissions and because we may share the revenue it
earns with the professional's firm. (Your investment professional may be your broker,
investment adviser, insurance agent, or someone else).
●This potential conflict of interest may influence your investment professional to
recommend this Contract over another investment.
●Distribution of
the Contracts
Should I
Exchange My
Contract?
●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 your 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.
●The Contracts
- Replacement
of Existing
Insurance
6
Appendix A - Investment Options Available Under The Contract
Variable Options
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 1-888-868-2583 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
To maximize total return, which consists of
appreciation on its investments and a
variable income stream.
ALPS Global Opportunity Portfolio - Class
III
1.76%2
1.36%
6.30%
9.36%
investment results that correspond (before
fees and expenses) generally to the price
and yield performance of its underlying
index, the Alerian Midstream Energy Select
Index.
ALPS/Alerian Energy Infrastructure
Portfolio - Class III
1.30%
4.66%
22.06%
10.70%
To provide current income and preservation
of capital.
American Funds® IS American Funds
Mortgage Fund - Class 4
advised by Capital Research and
Management Company
0.81%2
8.32%
0.06%
1.43%
High total return (including income and
capital gains) consistent with preservation
of capital over the long term.
American Funds® IS Asset Allocation Fund
- Class 4
advised by Capital Research and
Management Company
0.79%
15.59%
8.70%
9.50%
To provide a level of current income that
exceeds the average yield on U.S. stocks
generally and a growing stream of income
over the years.
American Funds® IS Capital Income
Builder - Class 4
advised by Capital Research and
Management Company
0.77%2
20.16%
8.82%
7.32%
Long-term growth of capital.
American Funds® IS Global Growth Fund -
Class 4
advised by Capital Research and
Management Company
0.90%2
21.34%
7.97%
11.89%
Long-term growth of capital.
American Funds® IS Global Small
Capitalization Fund - Class 4
advised by Capital Research and
Management Company
1.15%2
14.33%
0.23%
6.96%
Growth of capital.
American Funds® IS Growth Fund - Class 4
advised by Capital Research and
Management Company
0.83%
19.93%
13.09%
17.67%
A-1
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 and income.
American Funds® IS Growth-Income Fund
- Class 4
advised by Capital Research and
Management Company
0.78%
17.77%
13.62%
13.63%
Long-term growth of capital.
American Funds® IS International Fund -
Class 4
advised by Capital Research and
Management Company
0.97%2
26.41%
3.14%
6.73%
Long-term capital appreciation.
American Funds® IS New World Fund -
Class 4
advised by Capital Research and
Management Company
1.07%2
27.92%
5.06%
8.98%
To produce income and to provide an
opportunity for growth of principal
consistent with sound common stock
investing.
American Funds® IS Washington Mutual
Investors Fund - Class 4
advised by Capital Research and
Management Company
0.75%2
16.90%
13.60%
12.08%
Capital appreciation.
ClearBridge Variable Growth Portfolio -
Class II
advised by Franklin Templeton Fund
Adviser, LLC
1.13%
13.10%
4.98%
7.20%
Long-term growth of capital.
ClearBridge Variable Mid Cap Portfolio -
Class II
advised by Franklin Templeton Fund
Adviser, LLC
1.07%
4.08%
4.23%
7.24%
Total return.
Columbia VP Commodity Strategy Fund -
Class 2
0.98%2
15.30%
12.44%
6.46%
High total return through current income
and, secondarily, through capital
appreciation.
Columbia VP Emerging Markets Bond Fund
- Class 2
0.98%
12.65%
1.47%
4.03%
Total return, consisting of current income
and capital appreciation.
Columbia VP Strategic Income Fund - Class
2
0.95%2
6.88%
1.87%
3.99%
To provide a high level of current income.
Eaton Vance VT Floating-Rate Income Fund
- Initial Class
1.19%
3.95%
4.64%
4.43%
Income and capital growth consistent with
reasonable risk.
Fidelity® VIP Balanced Portfolio - Service
Class 2
0.66%
14.96%
9.24%
10.84%
Capital appreciation.
Fidelity® VIP Consumer Discretionary
Portfolio - Service Class 2
0.86%
6.54%
N/A
N/A
Capital appreciation.
Fidelity® VIP Consumer Staples Portfolio -
Service Class 2
0.86%
-3.23%
N/A
N/A
Long-term capital appreciation.
Fidelity® VIP Contrafund® Portfolio -
Service Class 2
0.79%
21.24%
15.08%
15.49%
Capital appreciation.
Fidelity® VIP Financials Portfolio - Service
Class 2
0.85%
14.89%
N/A
N/A
To achieve capital appreciation.
Fidelity® VIP Growth Portfolio - Service
Class 2
0.80%
14.63%
13.42%
17.16%
A-2
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.
Fidelity® VIP Mid Cap Portfolio - Service
Class 2
0.80%
11.49%
9.83%
10.31%
High level of current income, and may also
seek capital appreciation.
Fidelity® VIP Strategic Income Portfolio -
Service Class 2
0.88%
8.58%
2.79%
4.40%
Capital appreciation.
Fidelity® VIP Technology Portfolio - Service
Class 2
0.81%
23.07%
N/A
N/A
To provide long-term capital appreciation.
First Trust Capital Strength Hedged Equity
Portfolio - Class I
1.25%2
-2.26%
N/A
N/A
To provide capital appreciation.
First Trust Capital Strength Portfolio - Class
I
1.10%
5.70%
7.07%
N/A
Total return. A fund of funds.
First Trust Dorsey Wright Tactical Core
Portfolio - Class I
1.28%2
9.69%
5.34%
6.63%
To provide long-term capital appreciation.
First Trust Growth Strength Portfolio -
Class I
1.20%2
11.75%
N/A
N/A
To provide capital appreciation.
First Trust International Developed Capital
Strength Portfolio - Class I
1.20%2
19.53%
6.45%
N/A
To maximize current income, with a
secondary objective of capital appreciation.
First Trust Multi Income Allocation Portfolio
- Class I
1.17%2
7.71%
6.11%
5.91%
To provide total return by allocating among
dividend-paying stocks and investment
grade bonds.
First Trust/Dow Jones Dividend & Income
Allocation Portfolio - Class I5
1.18%
5.30%
3.98%
6.68%
Capital appreciation with income as a
secondary objective.
Franklin Allocation VIP Fund - Class 4
0.92%2
12.53%
5.59%
7.19%
To maximize income while maintaining
prospects for capital appreciation.
Franklin Income VIP Fund - Class 4
0.82%
12.43%
7.54%
7.19%
Long-term capital appreciation;
preservation of capital is also an important
consideration.
Franklin Rising Dividends VIP Fund - Class
4
0.99%
11.66%
9.38%
11.98%
Long-term total return.
Franklin Small Cap Value VIP Fund - Class
4
1.01%2
7.49%
8.75%
9.71%
Long-term capital growth.
Franklin Small-Mid Cap Growth VIP Fund -
Class 4
1.19%
2.40%
0.92%
9.78%
To seek long-term capital appreciation with
less risk than traditional equity funds.
Guggenheim VT Multi-Hedge Strategies
advised by Security Investors, LLC
1.75%2
1.25%
1.23%
1.62%
Capital growth and income.
Invesco V.I. Comstock Fund - Series II
Shares
1.00%
17.14%
15.14%
11.67%
To seek to provide reasonable current
income and long-term growth of income
and capital.
Invesco V.I. Diversified Dividend Fund -
Series II Shares
0.93%
15.44%
10.53%
8.93%
Both capital appreciation and current
income.
Invesco V.I. Equity and Income Fund -
Series II Shares
0.82%
12.52%
8.68%
8.64%
A-3
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%
Capital appreciation.
Invesco V.I. International Growth Fund -
Series II Shares
1.25%2
15.53%
1.88%
5.34%
Capital appreciation.
Invesco V.I. Main Street Small Cap Fund®-
Series II Shares
1.09%
8.44%
8.07%
10.31%
Long-term growth of capital. A fund of
funds.
Lincoln Hedged Nasdaq-100 Fund - Service
Class5
1.20%2
12.44%
N/A
N/A
Long-term growth of capital. A fund of
funds.
Lincoln Hedged S&P 500 Conservative
Fund - Service Class3
1.05%2
9.27%
N/A
N/A
Long-term growth of capital. A fund of
funds.
Lincoln Hedged S&P 500 Fund - Service
Class3
1.05%2
11.52%
N/A
N/A
Long-term growth of capital. A fund of
funds.
Lincoln Opportunistic Hedged Equity Fund -
Service Class
1.06%2
9.77%
N/A
N/A
To seek high current income and the
opportunity for capital appreciation to
produce a high total return.
Lord Abbett Series Fund Bond Debenture
Portfolio - Class VC
0.98%
8.33%
2.10%
4.72%
To seek high level of income consistent
with preservation of capital.
Lord Abbett Series Fund Short Duration
Income Portfolio - Class VC
0.72%2
5.90%
2.25%
2.62%
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
Capital growth.
LVIP American Century Capital Appreciation
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.94%2
6.56%
5.02%
11.31%
Long-term total return using a strategy that
seeks to protect against U.S. inflation.
LVIP American Century Inflation Protection
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.72%2
6.33%
0.62%
2.61%
Capital growth.
LVIP American Century International Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
1.10%2
15.81%
1.71%
6.27%
A-4
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 growth, income is
secondary objective.
LVIP American Century Large Company
Value Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund will not be available in contracts
issued on or after May 18, 2026. 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, income is
secondary consideration.
LVIP American Century Mid Cap Value Fund
- Service Class
advised by Lincoln Financial Investments
Corporation
1.01%2
8.83%
8.72%
8.96%
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
0.86%2
15.85%
11.47%
10.07%
Long-term capital appreciation. A fund of
funds.
LVIP American Funds Vanguard Active
Passive Growth Fund - Service Class
advised by Lincoln Financial Investments
Corporation
1.02%2
N/A
N/A
N/A
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 American Growth Allocation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.94%2
16.67%
6.74%
8.54%
Current income, consistent with the
preservation of capital. A fund of funds.
LVIP American Preservation Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
0.86%2
5.80%
0.81%
1.69%
Capital growth; income is a secondary
consideration.
LVIP Avantis Large Cap Value Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
(formerly LVIP American Century
Disciplined Core Value Fund)
0.96%2
14.56%
8.51%
10.12%
Capital appreciation.
LVIP Baron Growth Opportunities Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
1.15%2
-10.08%
-0.33%
8.78%
Long-term capital appreciation.
LVIP BlackRock Equity Dividend Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.96%2
13.09%
7.97%
8.27%
A-5
Investment Objective
Fund and
Adviser/Sub-adviser1
Current
Expenses
Average Annual Total
Returns (as of 12/31/2025)
1 year
5 year
10 year
High total investment return.
LVIP BlackRock Global Allocation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.97%2
18.41%
5.84%
N/A
To maximize real return, consistent with
preservation of real capital and prudent
investment management.
LVIP BlackRock Inflation Protected Bond
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
1.10%
5.49%
2.36%
2.76%
Total return through a combination of
current income and long-term capital
appreciation.
LVIP BlackRock Real Estate Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
1.11%2
8.63%
2.45%
3.42%
Long-term capital appreciation.
LVIP Channing Small Cap Value Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
1.13%
7.67%
N/A
N/A
Long-term capital appreciation.
LVIP ClearBridge Appreciation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
This fund will be available on or about May
18, 2026. Please consult your registered
representative.
0.95%2
14.19%
12.44%
13.05%
Long-term capital appreciation; current
income and income growth is a secondary
objective.
LVIP ClearBridge Dividend Strategy Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
This fund will be available on or about May
18, 2026. Please consult your registered
representative.
1.00%2
12.46%
11.69%
12.29%
Long-term growth of capital.
LVIP ClearBridge Large Cap Growth Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
(formerly ClearBridge Variable Large Cap
Growth Portfolio)
0.99%2
8.35%
10.29%
N/A
Long-term growth of capital; current
income is a secondary objective.
LVIP ClearBridge Large Cap Value Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
This fund will be available on or about May
18, 2026. Please consult your registered
representative.
0.97%2
N/A
N/A
N/A
Long-term capital appreciation.
LVIP Dimensional International Core Equity
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.87%2
34.91%
9.38%
8.16%
A-6
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 Dimensional U.S. Core Equity 1 Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.74%2
15.26%
12.75%
13.27%
Long-term capital appreciation.
LVIP Dimensional U.S. Core Equity 2 Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.74%
15.09%
12.55%
12.71%
Maximum long-term total return consistent
with reasonable risk.
LVIP Fidelity Institutional AM® Total Bond
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.81%2
6.40%
-0.65%
2.25%
Maximum current income (yield) consistent
with a prudent investment strategy.
LVIP Franklin Templeton Core Bond Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.72%
6.87%
-0.79%
1.88%
To maximize long-term capital appreciation.
LVIP Franklin Templeton Multi-Factor
Emerging Markets Equity Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
0.71%2
33.98%
8.80%
7.62%
To maximize long-term capital appreciation.
LVIP Franklin Templeton Multi-Factor
International Equity Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.65%2
35.26%
11.70%
8.13%
To maximize long-term capital appreciation.
LVIP Franklin Templeton Multi-Factor Large
Cap Equity Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.61%2
18.39%
15.89%
13.26%
To maximize long-term capital appreciation.
LVIP Franklin Templeton Multi-Factor SMID
Cap Equity Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.62%
13.30%
11.41%
9.93%
Current income while maintaining a stable
value of the investors' shares and
preserving the value of the investors' initial
investment.
LVIP Government Money Market Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.63%2
3.71%
2.79%
1.70%
To maximize total return by investing
primarily in a diversified portfolio of
intermediate- and long-term debt
securities.
LVIP JPMorgan Core Bond Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
0.71%
7.15%
-0.29%
1.85%
A high level of current income; capital
appreciation is the secondary objective.
LVIP JPMorgan High Yield Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
0.93%2
8.59%
4.41%
5.55%
Capital appreciation with the secondary
goal of achieving current income by
investing in equity securities.
LVIP JPMorgan Mid Cap Value Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.99%
4.45%
N/A
N/A
A-7
Investment Objective
Fund and
Adviser/Sub-adviser1
Current
Expenses
Average Annual Total
Returns (as of 12/31/2025)
1 year
5 year
10 year
Maximum total return, consistent with
reasonable risk.
LVIP JPMorgan Short Duration Bond Fund
- Service Class
advised by Lincoln Financial Investments
Corporation
0.77%2
4.87%
1.55%
2.03%
Capital growth over the long term.
LVIP JPMorgan Small Cap Core Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
1.02%
10.00%
6.13%
8.66%
High total return.
LVIP JPMorgan U.S. Equity Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
0.88%
14.26%
13.40%
14.56%
To provide investment results over a full
market cycle that, before fees and
expenses, are superior to an index that
tracks global equities.
LVIP Loomis Sayles Global Growth Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
1.12%2
17.18%
8.87%
N/A
Long-term capital appreciation.
LVIP MFS International Growth Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
1.04%2
18.81%
6.82%
9.46%
Capital appreciation.
LVIP MFS Value Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.86%2
12.78%
9.72%
9.82%
Current income consistent with the
preservation of capital.
LVIP Mondrian Global Income Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.91%2
6.14%
-3.54%
0.11%
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 -
Service Class
advised by Lincoln Financial Investments
Corporation
0.99%2
36.05%
10.96%
7.63%
Total return.
LVIP Nomura Diversified Floating Rate Fund
- Service Class
advised by Lincoln Financial Investments
Corporation
0.89%2
4.51%
3.09%
2.51%
Total return and, as a secondary objective,
high current income.
LVIP Nomura High Yield Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
1.02%2
8.94%
3.75%
5.58%
To maximize long-term capital appreciation.
LVIP Nomura Mid Cap Value Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
0.77%
12.95%
11.33%
10.29%
Long-term capital appreciation.
LVIP Nomura SMID Cap Core Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
1.10%2
8.53%
8.77%
9.34%
A-8
Investment Objective
Fund and
Adviser/Sub-adviser1
Current
Expenses
Average Annual Total
Returns (as of 12/31/2025)
1 year
5 year
10 year
To maximize long-term capital appreciation.
LVIP Nomura Social Awareness Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.79%
14.65%
12.58%
13.13%
Long-term capital appreciation.
LVIP Nomura U.S. Growth Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
1.02%
22.24%
15.46%
15.92%
Maximum long-term total return, with
capital appreciation as a secondary
objective.
LVIP Nomura U.S. REIT Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
1.13%2
0.72%
5.24%
3.74%
To seek a high level of current income
consistent with preservation of capital.
LVIP PIMCO Low Duration Bond Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.85%2
5.21%
1.65%
1.99%
To match as closely as practicable, before
fees and expenses, the performance of the
Bloomberg U.S. Aggregate Index.
LVIP State Street Bond Index Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
(formerly LVIP SSGA Bond Index Fund)
0.62%2
6.53%
-0.97%
1.42%
A high level of current income, with some
consideration given to growth of capital. A
fund of funds.
LVIP State Street Conservative Index
Allocation Fund - Service Class
advised by Lincoln Financial Investments
Corporation
(formerly LVIP SSGA Conservative Index
Allocation Fund)
0.75%2
12.51%
3.45%
5.30%
To provide investment results that, before
fees and expenses, correspond generally to
the total return of the MSCI Emerging
Markets Index that tracks performance of
emerging market equity securities.
LVIP State Street Emerging Markets Equity
Index Fund - Service Class
advised by Lincoln Financial Investments
Corporation
(formerly LVIP SSGA Emerging Markets
Equity Index Fund)
0.75%2
33.15%
3.15%
N/A
To approximate as closely as practicable,
before fees and expenses, the performance
of a broad market index of non-U.S. foreign
securities.
LVIP State Street International Index Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
(formerly LVIP SSGA International Index
Fund)
0.63%2
30.85%
8.39%
7.73%
To approximate as closely as practicable,
before fees and expenses, the performance
of the S&P MidCap 400® Index that
emphasizes stocks of mid-sized U.S.
companies.
LVIP State Street Mid-Cap Index Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
(formerly LVIP SSGA Mid-Cap Index Fund)
0.60%2
6.87%
8.47%
10.06%
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 State Street Moderate Index Allocation
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
(formerly LVIP SSGA Moderate Index
Allocation Fund)
0.75%
15.35%
5.59%
7.16%
A-9
Investment Objective
Fund and
Adviser/Sub-adviser1
Current
Expenses
Average Annual Total
Returns (as of 12/31/2025)
1 year
5 year
10 year
A balance between high level of current
income and growth of capital, with a
greater emphasis on growth of capital. A
fund of funds.
LVIP State Street Moderately Aggressive
Index Allocation Fund - Service Class
advised by Lincoln Financial Investments
Corporation
(formerly LVIP SSGA Moderately
Aggressive Index Allocation Fund)
0.75%
17.14%
6.39%
7.91%
Seeks an investment return that
approximates as closely as practicable,
before fees and expenses, the performance
of U.S. common stocks, as represented by
the Nasdaq-100® Index.
LVIP State Street Nasdaq-100 Index Fund -
Service Class5
advised by Lincoln Financial Investments
Corporation
(formerly LVIP SSGA Nasdaq-100 Index
Fund)
0.69%
20.20%
N/A
N/A
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 State Street S&P 500 Index Fund -
Service Class3
advised by Lincoln Financial Investments
Corporation
(formerly LVIP SSGA S&P 500 Index Fund)
0.48%
17.30%
13.88%
14.26%
To provide investment results that, before
fees and expenses, correspond generally to
the price and yield performance of an index
that tracks the short-term U.S. corporate
bond market.
LVIP State Street Short-Term Bond Index
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
(formerly LVIP SSGA Short-Term Bond
Index Fund)
0.61%2
5.25%
2.00%
N/A
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 State Street Small-Cap Index Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
(formerly LVIP SSGA Small-Cap Index
Fund)
0.63%2
12.18%
5.47%
8.90%
A high level of current income, with some
consideration given to growth of capital. A
fund of funds.
LVIP Structured Conservative Allocation
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.84%
13.44%
4.19%
5.34%
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 Structured Moderate Allocation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.81%
16.98%
6.90%
7.32%
A balance between high level of current
income and growth of capital, with a
greater emphasis on growth of capital. A
fund of funds.
LVIP Structured Moderately Aggressive
Allocation Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.84%
19.03%
8.00%
8.05%
To maximize capital appreciation.
LVIP T. Rowe Price Structured Mid-Cap
Growth Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.96%2
10.76%
7.14%
12.62%
Total return consistent with the
preservation of capital. A fund of funds.
LVIP Vanguard Bond Allocation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.61%
6.06%
-0.70%
1.29%
A-10
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. A fund of
funds.
LVIP Vanguard Domestic Equity ETF Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
0.55%2
16.18%
12.43%
13.50%
Long-term capital appreciation. A fund of
funds.
LVIP Vanguard International Equity ETF
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
0.57%2
31.23%
7.02%
7.87%
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%
Capital appreciation.
MFS International Intrinsic Equity Portfolio
- Service Class
advised by Massachusetts Financial
Services Company
(formerly MFS® VIT II International
Intrinsic Value Portfolio)
1.14%2
32.96%
7.02%
9.68%
Capital appreciation.
MFS® VIT Growth Series - Service Class
advised by Massachusetts Financial
Services Company
0.98%2
11.90%
10.82%
15.31%
Total return.
MFS® VIT Total Return Series - Service
Class
advised by Massachusetts Financial
Services Company
0.86%2
10.91%
6.16%
7.36%
Total return.
MFS® VIT Utilities Series - Service Class
advised by Massachusetts Financial
Services Company
1.03%2
14.76%
7.38%
9.22%
Total return.
Nomura VIP Asset Strategy Series - Service
Class
0.77%2
16.66%
7.07%
7.84%
Long-term capital appreciation.
Nomura VIP Emerging Markets Series -
Service Class
1.46%2
80.77%
8.48%
11.85%
Capital growth and appreciation.
Nomura VIP Energy Series - Service Class
1.10%2
11.89%
18.61%
1.74%
To seek to provide total return through a
combination of high current income and
capital appreciation.
Nomura VIP High Income Series - Service
Class
0.97%
7.17%
3.73%
5.56%
Growth of capital.
Nomura VIP Mid Cap Growth Series -
Service Class
1.10%2
1.18%
-0.08%
10.66%
Growth of capital.
Nomura VIP Science and Technology Series
- Service Class
1.15%
33.36%
13.71%
17.20%
Growth of capital.
Nomura VIP Small Cap Growth Series -
Service Class
1.15%2
13.39%
2.20%
8.69%
Capital appreciation.
Nomura VIP Small Cap Value Series -
Service Class
1.04%
7.83%
8.93%
8.84%
Maximum real return, consistent with
preservation of real capital and prudent
investment management. A fund of funds.
PIMCO VIT All Asset Portfolio - Advisor
Class
advised by Pacific Investment Management
Company, LLC
2.23%2
14.19%
5.49%
6.67%
A-11
Investment Objective
Fund and
Adviser/Sub-adviser1
Current
Expenses
Average Annual Total
Returns (as of 12/31/2025)
1 year
5 year
10 year
Balanced investment composed of a well-
diversified portfolio of stocks and bonds
which produce both capital growth and
current income.
Putnam VT George Putnam Balanced Fund
- Class IB
0.88%
13.95%
8.85%
10.17%
Capital appreciation.
Putnam VT Global Health Care Fund - Class
IB
1.00%
15.05%
7.71%
8.36%
High current income consistent with what
the manager believes to be prudent risk.
Putnam VT Income Fund - Class IB
advised by Franklin Advisers, Inc.
0.82%
7.25%
-1.13%
1.89%
Capital growth and current income.
Putnam VT Large Cap Value Fund - Class IB
0.79%
20.35%
15.38%
13.30%
Long-term capital appreciation.
Putnam VT Sustainable Future Fund - Class
IB
1.05%2
2.66%
1.19%
9.60%
Long-term capital appreciation.
Putnam VT Sustainable Leaders Fund -
Class IB
0.88%
10.69%
10.34%
14.69%
Long-term capital growth.
Templeton Foreign VIP Fund - Class 4
1.18%2
28.97%
8.14%
5.64%
High current income consistent with
preservation of capital; capital appreciation
is a secondary objective.
Templeton Global Bond VIP Fund - Class 4
advised by Franklin Advisers, Inc.
0.85%2
15.56%
-1.05%
-0.25%
Long-term capital appreciation by investing
primarily in global resource securities;
income is a secondary consideration.
VanEck VIP Global Resources Fund - Class
S Shares
1.32%
36.17%
10.24%
8.06%
Long-term total return.
Virtus Newfleet Multi-Sector Intermediate
Bond Series - Class A Shares
0.94%2
7.58%
2.52%
4.23%
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
The Nasdaq-100 Index® includes 100 of the largest domestic and international non-financial securities listed on The NASDAQ Stock Market® based on market capitalization. NASDAQ®, and Nasdaq-100 Index®, are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by The Lincoln National Life Insurance Company. The fund is not sponsored, endorsed, sold or promoted by NASDAQ, and NASDAQ makes no representation regarding the advisability of purchasing the fund.
Fixed Options
The following is a list of fixed account options currently available under the Contract. We may change the features of the fixed account options listed below, offer new fixed account options, and terminate existing fixed account options. We will provide you with written notice at least 30 days prior to the date of any change. Depending on the optional benefits you choose, you may not be able to invest in a fixed account option. Fixed account options are available in B-Share contracts only.  
Name
Term
Minimum Guaranteed Interest Rate
DCA Fixed Account
3 -60 months
3.00%
A-12
Appendix B - Investment Requirements
If you elect the Earnings Optimizer Death Benefit, you will be subject to Investment Requirements. These Investment Requirements will apply for the entire time your Contract is in force. This means you will be limited in your choice of Subaccount investments and in how much you can invest in certain Subaccounts. This also means you will not be able to allocate Contract Value to all of the Subaccounts that are available to Contractowners who have not elected this Death Benefit. We impose Investment Requirements to reduce the risk of investment losses that may require us to use our own assets to make guaranteed payments under a rider.
We have divided the Subaccounts of your Contract into groups and have specified the maximum percentages of Contract Value that must be in each group at the time you purchase the rider. Some investment options are not available to you if you purchase this rider. The Investment Requirements may not be consistent with an aggressive investment strategy. You should consult with your registered representative to determine if the Investment Requirements are consistent with your investment objectives.
You can select the percentages of Contract Value (or Account Value if i4LIFE® Advantage is in effect) to allocate to individual Subaccounts within each group, but the total investment for all Subaccounts within the group must comply with the specified 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. Confirmation of the rebalancing will appear on your quarterly statement. If we rebalance Contract Value from the Subaccounts and 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. These investments will become your allocation instructions until you tell us otherwise.
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 these 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:
1.
submit your own reallocation instructions for the Contract Value, before the effective date specified in the notice, so that the Investment Requirements are satisfied; or
2.
take no action and be subject to the quarterly rebalancing as described above. If this results in a change to your allocation instructions, then these will be your new allocation instructions until you tell us otherwise.
At this time, the Subaccount groups are as follows: 
Group 1 - Unlimited Subaccounts
You may allocate 100% of your Contract Value or Account Value among any Subaccount not listed in Group 2 - Unavailable Subaccounts 
Group 2 - Unavailable Subaccounts
These funds are not available if you have elected the Earnings Optimizer Death Benefit
ALPS/Alerian Energy Infrastructure Portfolio
ALPS Global Opportunity Portfolio
American Funds® IS New World Fund
Columbia VP Commodity Strategy Fund
Columbia VP Emerging Markets Bond Fund
Columbia VP Strategic Income Fund
Eaton Vance VT Floating-Rate Income Fund
Fidelity® VIP Consumer Discretionary Portfolio
Fidelity® VIP Consumer Staples Portfolio
Fidelity® VIP Financials Portfolio
Fidelity® VIP Technology Portfolio
First Trust Capital Strength Hedged Equity Portfolio
First Trust Dorsey Wright Tactical Core Portfolio
First Trust Multi Income Allocation Portfolio
Guggenheim VT Multi-Hedge Strategies
LVIP BlackRock Real Estate Fund
LVIP Franklin Templeton Multi-Factor Emerging Markets Equity Fund
LVIP Loomis Sayles Global Growth Fund
LVIP Mondrian Global Income Fund
LVIP Nomura U.S. REIT Fund
LVIP State Street Emerging Markets Equity Index Fund
MFS® VIT Utilities Series
Nomura VIP Asset Strategy Series
Nomura VIP Emerging Markets Series
Nomura VIP Energy Series
Nomura VIP Science and Technology Series
PIMCO VIT All Asset Portfolio
Putnam VT Global Health Care Fund
Templeton Global Bond VIP Fund
VanEck VIP Global Resources Fund
B-1
As an alternative, to satisfy these Investment Requirements, 100% of the Contract Value may be allocated to one of the following asset allocation models:
●
American Century Diversified Growth Model
●
American Funds IS TRICAP Global Growth Portfolio
●
American Funds IS TRICAP Growth Portfolio
●
Dimensional/Vanguard Global Growth Allocation Model
●
Dimensional/Vanguard Moderate Allocation Model
●
First Trust Defensive Equity Strength Model
●
JPMorgan U.S. Active Growth Model
These models are made available to you by your broker-dealer. You may choose only one asset allocation model at a time, though you may change to a different asset allocation model available in your Contract that meets the Investment Requirements or reallocate Contract Value according to the Investment Requirements listed above. If you terminate an asset allocation model, you must follow the Investment Requirements applicable to your rider. We may exclude an asset allocation model from being available for investment at any time, in our sole discretion. You will be notified prior to the date of such a change.
B-2
 
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This updating summary prospectus incorporates by reference the prospectus and statement of additional information (SAI) for the Contract, both dated May 1, 2026, 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.:
333-252473; 811-08517
EDGAR Contract Identifier:
C000226659
Lincoln Life Variable Annuity Account N published this content on April 24, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 24, 2026 at 14:43 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]