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Form 485APOS LINCOLN LIFE VARIABLE

August 8, 2022 2:56 PM EDT

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As filed with the Securities and Exchange Commission on August 8, 2022
1933 Act Registration No. 333-170897
1940 Act Registration No. 811-08517
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
POST-EFFECTIVE AMENDMENT NO. 36
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
AMENDMENT NO. 928
Lincoln Life Variable Annuity Account N
(Exact Name of Registrant)
Lincoln ChoicePlusSM Signature
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
(Name of Depositor)
1301 South Harrison Street
Post Office Box 1110
Fort Wayne, Indiana 46801
(Address of Depositor’s Principal Executive Offices)
Depositor’s Telephone Number, Including Area Code: (260) 455-2000
Craig T. Beazer, Esquire
The Lincoln National Life Insurance Company
150 North Radnor Chester Road
Radnor, PA 19087
(Name and Address of Agent for Service)
Copy to:
Carolyn E. Augur, Esquire
The Lincoln National Life Insurance Company
350 Church Street
Hartford, Connecticut 06103
Approximate Date of Proposed Public Offering: Continuous

It is proposed that this filing will become effective:
/ / immediately upon filing pursuant to paragraph (b) of Rule 485
/ / on May 1, 2022, pursuant to paragraph (b) of Rule 485
/X/ 60 days after filing pursuant to paragraph (a)(1) of Rule 485
/ / on __________, pursuant to paragraph (a)(1) of Rule 485
Title of Securities being registered:
Interests in a separate account under individual flexible
payment deferred variable annuity contracts.


The Lincoln National Life Insurance Company

Lincoln Life Variable Annuity Account N

Rate Sheet Prospectus Supplement dated XX XX, 2022
This Rate Sheet Prospectus Supplement (“Rate Sheet”) provides the rates and percentages for the Lincoln ProtectedPaySM lifetime income suite. This supplement is for informational purposes and requires no action on your part. This Rate Sheet must be retained with the current prospectus.
The rates below apply for applications and/or election forms signed on or after XX XX, 2022.
The rates in this Rate Sheet can be superseded. In the event we change our rates, the new rate sheet will become effective at least 10 days after it is filed. Current Rate Sheets will be included with the prospectus. You can also obtain the most current Rate Sheet by contacting your financial professional, or online at www.lfg.com/VAprospectus. This Rate Sheet has been filed with the Securities and Exchange Commission and can be viewed at www.sec.gov.
Current Initial Protected Lifetime Income Fee Rate
 
Single
Life
Joint
Life
Current Initial Annual Charge
1.50%
1.60%
Enhancement Rate
6%
Protected Annual Income Rates for Lincoln ProtectedPay Secure CoreSM and Lincoln ProtectedPay Select CoreSM
The Protected Annual Income amount is calculated when you elect the rider. Upon the first Protected Annual Income withdrawal, the Protected Annual Income rate will be based on your age (or the younger of you and your spouse under the joint life option) as of the date of that withdrawal, and thereafter may not change unless an Account Value Step-up occurs after reaching a new age band.
Lincoln ProtectedPay Secure CoreSM
Single Life PAI Rate
Joint Life PAI Rate
Age
PAI Rate
Age
PAI Rate
59 – 64
4.50%
59 – 64
4.00%
65 – 69
5.65%
65 – 69
4.90%
70 – 74
5.75%
70 – 74
5.00%
75+
5.85%
75+
5.30%
Lincoln ProtectedPay Select CoreSM
Single Life PAI Rate
Joint Life PAI Rate
Age
PAI Rate
Age
PAI Rate
59 – 64
4.00%
59 – 64
3.60%
65 – 69
5.15%
65 – 69
4.50%
70 – 74
5.25%
70 – 74
4.60%
75+
5.35%
75+
4.90%

Protected Annual Income Rates for Lincoln ProtectedPay Select MaxSM, Lincoln ProtectedPay Select PlusSM, Lincoln ProtectedPay Secure PlusSM and Lincoln ProtectedPay Secure MaxSM
The initial Protected Annual Income rate is based on your age as of the date of the first Protected Annual Income withdrawal. Under the joint life option, the age of the younger of you or your spouse will be used. Thereafter the Protected Annual Income rate will only increase upon an Account Value Step-up after reaching a new age band and will decrease once the Contract Value reaches zero.
The rates in Table A apply prior to the Contract Value reaching zero. When the Contract Value reaches zero, Table B will always be used and, the Protected Annual Income amount will be immediately recalculated to equal the Protected Income Base multiplied by the applicable rate shown in Table B. The rate in Table B will be based on the later of (a) your age at the time the first Protected Annual Income withdrawal occurred, or (b) your age as of the Valuation Date of the most recent Account Value Step-up. If no withdrawals have been taken prior to the Contract Value reaching zero, then your current age (single life option) or the younger of you and your spouse (joint life option) will be used to determine the Protected Annual Income rate in Table B.
Lincoln ProtectedPay Select MaxSM
TABLE A
TABLE B
Age
Single Life
Option
Joint Life
Option
Age
Single Life
Option
Joint Life
Option
59 – 64
5.30%
4.80%
59 – 64
3.00%
2.75%
65 – 69
7.80%
7.30%
65 – 69
3.00%
2.75%
70 – 74
8.15%
7.80%
70 – 74
3.00%
2.75%
75+
8.30%
7.95%
75+
3.00%
2.75%
Lincoln ProtectedPay Select PlusSM
TABLE A
TABLE B
Age
Single Life
Option
Joint Life
Option
Age
Single Life
Option
Joint Life
Option
59 – 64
5.30%
4.80%
59 – 64
3.00%
2.75%
65 – 69
6.00%
5.50%
65 – 69
4.00%
3.75%
70 – 74
6.50%
6.00%
70 – 74
4.00%
3.75%
75+
6.60%
6.10%
75+
4.00%
3.75%
Lincoln ProtectedPay Secure PlusSM
TABLE A
TABLE B
Age
Single Life
Option
Joint Life
Option
Age
Single Life
Option
Joint Life
Option
59 – 64
5.65%
5.15%
59 – 64
3.00%
2.75%
65 – 69
6.35%
5.85%
65 – 69
4.00%
3.75%
70 – 74
6.85%
6.35%
70 – 74
4.00%
3.75%
75+
6.95%
6.45%
75+
4.00%
3.75%
Lincoln ProtectedPay Secure MaxSM
TABLE A
TABLE B
Age
Single Life
Option
Joint Life
Option
Age
Single Life
Option
Joint Life
Option
59 – 64
5.65%
5.15%
59 – 64
3.00%
2.75%
65 – 69
8.15%
7.65%
65 – 69
3.00%
2.75%
70 – 74
8.50%
8.15%
70 – 74
3.00%
2.75%
75+
8.65%
8.30%
75+
3.00%
2.75%

i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) Charge Rate
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) for Contractowners who transition from Lin-
coln ProtectedPay Secure CoreSM
Single
Life
Joint
Life
Current Initial Annual Charge
1.50%
1.60%
 
 
 
i4LIFE® Advantage Select Guaranteed Income Benefit for Contractowners who transition from Lincoln
ProtectedPay Select CoreSM
Single
Life
Joint
Life
Current Initial Annual Charge
1.50%
1.60%
Guaranteed Income Benefit Percentages
The Guaranteed Income Benefit will be an amount equal to a specified percentage of your Account Value or Protected Income Base, based on your age (or the age of the youngest life under a joint life option) at the time the Guaranteed Income Benefit is elected. The following rates apply to i4LIFE® Advantage Guaranteed Income Benefit elections for Contractowners who transition from Lincoln ProtectedPay Secure CoreSM and Lincoln ProtectedPay Select CoreSM.
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) Percentages For Contractowners Who Transition From Lincoln ProtectedPay Secure CoreSM
Single Life GIB %
Joint Life GIB %
Age
GIB %
Age
GIB %
Under 40
2.10%
Under 40
2.10%
40 – 54
2.60%
40 – 54
2.30%
55 – 58
2.60%
55 – 58
2.30%
59 – 64
3.35%
59 – 64
2.85%
65 – 69
4.35%
65 – 69
3.60%
70 – 74
4.85%
70 – 74
3.85%
75 – 79
5.10%
75 – 79
4.10%
80+
5.10%
80+
4.35%
i4LIFE® Advantage Select Guaranteed Income Benefit Percentages For Contractowners Who Transition From Lincoln ProtectedPay Select CoreSM
Single Life GIB %
Joint Life GIB %
Age
GIB %
Age
GIB %
Under 40
2.10%
Under 40
2.10%
40 – 54
2.35%
40 – 54
2.10%
55 – 58
2.35%
55 – 58
2.10%
59 – 64
3.10%
59 – 64
2.60%
65 – 69
3.85%
65 – 69
2.85%
70 – 74
4.10%
70 – 74
3.35%
75 – 79
4.35%
75 – 79
3.60%
80+
4.35%
80+
3.85%
In order to receive the percentages and rates indicated in this Rate Sheet, your application or rider election form must be signed on and after XX XX, 2022. We must receive your application or rider election form in Good Order within one day from the date you sign your application or rider election form, and the annuity must be funded within 60 calendar days. Good Order means the actual receipt by Lincoln at its Home Office of the requested transaction in writing, or by other means accepted by Lincoln, along with all the information and supporting legal documentation necessary to complete the transaction. Additional paperwork may be required if these conditions are not met and you still wish to purchase the annuity in order to receive the applicable rates in effect at that time.


The Lincoln National Life Insurance Company

Lincoln Life Variable Annuity Account N
ChoicePlus Signature

Rate Sheet Prospectus Supplement dated XX XX, 2022
This Rate Sheet Prospectus Supplement (“Rate Sheet”) provides the rates and percentages for the 4LATER® Select Advantage rider. This supplement is for informational purposes and requires no action on your part. This Rate Sheet must be retained with the current prospectus.
The rates below apply for applications and/or election forms signed on and after XX XX, 2022.
The rates in this Rate Sheet can be superseded. In the event we change our rates, the new rate sheet will become effective at least 10 days after it is filed. Current Rate Sheets will be included with the prospectus. You can also obtain the most current Rate Sheet by contacting your financial professional, or online at www.lfg.com/VAprospectus. This Rate Sheet has been filed with the Securities and Exchange Commission and can be viewed at www.sec.gov.
Current Initial Protected Lifetime Income Fee Rate
 
Single
Life
Joint
Life
Current Initial Annual Charge
1.50%
1.60%
Enhancement Rate
6%
i4LIFE® Advantage Select Guaranteed Income Benefit Charge Rate
i4LIFE® Advantage Select Guaranteed Income Benefit for Contractowners who transition from 4LATER®
Select Advantage
Single
Life
Joint
Life
Current Initial Annual Charge
1.50%
1.60%
i4LIFE® Advantage Select Guaranteed Income Benefit
Single Life GIB %
Joint Life GIB %
Age
GIB %
Age
GIB %
Under 40
2.10%
Under 40
2.10%
40-54
2.35%
40-54
2.10%
55-58
2.35%
55-58
2.10%
59-64
3.10%
59-64
2.60%
65-69
3.85%
65-69
2.85%
70-74
4.10%
70-74
3.35%
75-79
4.35%
75-79
3.60%
80+
4.35%
80+
3.85%
In order to receive the rate indicated in this Rate Sheet, your 4LATER® Select Advantage application or rider election form must be signed and dated on and after XX XX, 2022. We must receive your application or rider election form in Good Order within one day from the date you sign your application or rider election form and the annuity must be funded within 60 calendar days. Good Order means the actual receipt by Lincoln at its Home Office of the requested transaction in writing, or by other means accepted by Lincoln, along with all the information and supporting legal documentation necessary to complete the transaction. Additional paperwork may be required if these conditions are not met and you still wish to purchase the annuity in order to receive the applicable rates in effect at that time.




THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Lincoln Life Variable Annuity Account N
ChoicePlusSM Signature

Supplement dated  _______, 2022 to the prospectus dated May 1, 2022

This supplement to the prospectus for your individual variable annuity contract describes the Lincoln ProtectedPaySM lifetime income suite, available for purchase beginning ________, 2022 (subject to state approval). This supplement is for informational purposes and requires no action on your part.
OVERVIEW

Lincoln ProtectedPaySM is a suite of optional riders that provide accumulation through:
Guaranteed lifetime periodic withdrawals for you (and your spouse if the joint life option is selected) up to the Protected Annual Income amount which is based upon a Protected Income Base;
An Enhancement amount added to the Protected Income Base if certain criteria are met, as set forth below;
Account Value Step-ups of the Protected Income Base to the Contract Value if the Contract Value is equal to or greater than the Protected Income Base after the Enhancement; and
Age-based increases to the Protected Annual Income amount (after reaching a higher age-band and after an Account Value Step-up).
The rider suite provides flexible investment and income choices to meet your individual needs by offering six different options, which are described later in detail.

Lincoln ProtectedPaySM is available for election on all new and existing nonqualified and qualified (IRAs and Roth IRAs) annuity contracts. The Contractowner/Annuitant as well as the spouse under the joint life option must be age 85 or younger at the time the rider is elected. The initial Purchase Payment or Contract Value (if elected after the contract is issued) must be at least $25,000. Rider elections are subject to Home Office approval if your Contract Value totals $2 million or more.
If you purchase a Lincoln ProtectedPaySM rider, you will be required to adhere to Investment Requirements, which will limit your ability to invest in certain Subaccounts offered in your Contract. Certain rider options have more restrictive Investment Requirements than others. In addition, the fixed account is not available except for use with dollar cost averaging.

DESCRIPTION OF CHANGES

The following discussion describes changes that are incorporated into the specified sections of your prospectus.

Special Terms – The following term is added to the Special Terms section:

Enhancement Value: A value to which the Protected Income Base will increase, subject to certain conditions and limitations.

Important Information About Your Contract – The following line item replaces the current line item on the Minimum and Maximum Annual Fee Table:

 
Minimum
Maximum
Optional benefits available for an additional charge (for a single optional benefit, if elected)
0.40%
2.75%

Fee TablesAnnual Contract Expenses. The following entry is added to the Annual Contract Expenses Table under Optional Benefit Expenses:

 
Single Life
Joint Life
Lincoln ProtectedPaySM *
   
Guaranteed Maximum Annual Charge ………………………………
2.75%
2.75%

*As an annualized percentage of the Protected Income Base, as increased by subsequent Purchase Payments and decreased by Excess Withdrawals This charge is deducted from the Contract Value on a quarterly basis. The current rider charge rate will be less than or equal to the stated maximum charge rate and will be disclosed in a Rate Sheet prospectus supplement.

Fee Tables – ExamplesThe following Example is added to your prospectus.

The following Example is intended to help you compare the cost of investing in the contract with the cost of investing in other variable annuity contracts. These costs include transaction expenses, contract fees, annual contract expenses, and annual fund fees and expenses. The Example has been calculated using the fees and expenses of the funds prior to the application of any contractual waivers and/or reimbursements.

The Example assumes that you invest $100,000 in the contract for the time periods indicated. The Example also assumes that your investment has a 5% return each year, the maximum fees and expenses of any of the funds and that the EGMDB Death Benefit and Lincoln ProtectedPay® at the guaranteed maximum charge are in effect. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
1)
If you surrender your contract at the end of the applicable time period:
 
1 year
 
3 years
 
5 years
 
10 years
 
Signature 1
XX
 
XX
 
XX
 
XX
 
Signature 2
XX
 
XX
 
XX
 
XX
 

2)
If you annuitize or do not surrender your contract at the end of the applicable time period:
 
1 year
 
3 years
 
5 years
 
10 years
 
Signature 1
XX
 
XX
 
XX
 
XX
 
Signature 2
XX
 
XX
 
XX
 
XX
 


Charges and Other Deductions The following information is added to the Charges and Other Deductions section of your prospectus.

Protected Lifetime Income Fee - Lincoln ProtectedPaySM Fee. If you elect a Lincoln ProtectedPaySM rider, there is a fee associated with the rider for as long as the rider is in effect.

The protected lifetime income fee rate for new rider elections is disclosed in a Rate Sheet prospectus supplement. The Rate Sheet indicates the current rates and the date by which your application or rider election form must be signed and dated for a rider to be issued with those rates. The rates may be superseded at any time in our sole discretion and may be higher or lower than the charge rate on the previous Rate Sheet.

Any change to the protected lifetime income fee rate will be disclosed in a new rate sheet at least ten days before that rate becomes effective. Current Rate Sheets will be included with the prospectus. You can also obtain the most current Rate Sheet by contacting your registered representative, online at www.lfg.com/VAprospectus or by calling us at number listed in your prospectus.
The fee:
is based on the Protected Income Base (initial Purchase Payment if purchased at contract issue, or Contract Value at the time of election) as increased for subsequent Purchase Payments, Account Value Step-ups, Enhancements, and as decreased for Excess Withdrawals; and
may increase every year upon an Account Value Step-up or annually on the Benefit Year anniversary, after ten years from the rider effective date. (You may opt out of this increase – see details below.)
The charge will be deducted from the Contract Value on a quarterly basis. The first deduction of the charge will occur on the Valuation Date on or next following the three-month anniversary of the rider’s effective date. This deduction will be made in proportion to the value in each Subaccount and the fixed account, if any, on the Valuation Date the rider charge is assessed. The amount we deduct will increase or decrease as the Protected Income Base increases or decreases.

The protected lifetime income fee rate can change each time there is an Account Value Step-up. Since the Account Value Step-up could increase your Protected Income Base every Benefit Year (if all conditions are met), the fee rate could also increase every Benefit Year, but the rate will never exceed the stated guaranteed maximum annual fee rate. If your fee rate is increased, you may opt out of the Account Value Step-up by giving us notice within 30 days after the Benefit Year anniversary if you do not want your rate to change. If you opt out of the step-up, the fee rate and the Protected Income Base will return to the value they were immediately prior to the step-up, adjusted for any additional Purchase Payments or Excess Withdrawals. This opt-out will only apply for this particular Account Value Step-up. You will need to notify us each time the fee rate increases if you want to opt out of subsequent Account Value Step-ups. If you opt out of an Account Value Step-up, you are still eligible for an Enhancement, if applicable, through the end of the Enhancement Period, including in the year you declined the Account Value Step-up.

The protected lifetime income fee rate will increase to the then current rate not to exceed the guaranteed maximum annual fee rate, if after the first Benefit Year anniversary, cumulative Purchase Payments added to the Contract equal or exceed $100,000. You may not opt out of this protected lifetime income fee rate increase.

After ten years from the rider effective date, the protected lifetime income fee rate may increase annually on the Benefit Year anniversary at Lincoln’s sole discretion, up to the stated guaranteed maximum charge rate. You may opt out of this fee rate increase by giving us notice within 30 days after the increase. If you opt out of this fee rate increase, you will no longer be eligible for Account Value Step-ups.

The charge will be discontinued upon termination of the rider. However, a portion of the rider charge, based on the number of days the rider was in effect that quarter, will be deducted upon termination of the rider (except for death), surrender of the contract, or the election of an Annuity Payout option, including i4LIFE® Advantage. If the Contract Value is reduced to zero, no further charge will be deducted.
Benefits Available Under the Contract. The following entry is added to the Benefits Available Under the Contract table under Optional Benefits – Available for Election.

Name of Benefit
Purpose
Maximum Fee
Brief Description of Restrictions/ Limitations
Lincoln ProtectedPaySM
Provides:
•Varying income options.
•Guaranteed lifetime periodic withdrawals.
•An Enhancement to the Protected Income Base.
•Account Value Step-ups of the Protected Income Base.
•Age-based increases to the Protected Annual Income amount.
2.75% Single and Joint Life Options
(as a percentage of the Protected Income Base)
•Investment Requirements apply.
•Excess Withdrawals could significantly reduce or terminate the benefit.
•Any withdrawal may negatively impact or eliminate the potential for enhancements or step-ups.
•Subject to a $10 million maximum Protected Income Base across all Living Benefit Riders.
•Purchase Payments and step-ups may increase fee rate.
•Additional Purchase Payments may be limited.

The following section is added to the Benefits Available Under the Contract section of your prospectus, immediately prior to the Lincoln Lifetime IncomeSM Advantage (Managed Risk) section.

Lincoln ProtectedPaySM

Lincoln ProtectedPaySM is a suite of Living Benefit Riders available for purchase beginning _______, 2022 (subject to state approval), that provides:
Guaranteed lifetime periodic withdrawals for you (and your spouse if the joint life option is selected) up to the Protected Annual Income amount which is based upon a guaranteed Protected Income Base;
An Enhancement amount added to the Protected Income Base if certain criteria are met, as set forth below;
Annual step-ups of the Protected Income Base to the Contract Value if the Contract Value is equal to or greater than the Protected Income Base after an Enhancement;
Age-based increases to the Protected Annual Income amount (after reaching a higher age-band and after an Account Value Step-up).

The rider provides flexible investment and income choices to meet your individual needs by offering six different options:
Lincoln ProtectedPay Select CoreSM
Lincoln ProtectedPay Secure CoreSM
Lincoln ProtectedPay Select PlusSM
Lincoln ProtectedPay Secure PlusSM
Lincoln ProtectedPay Select MaxSM
Lincoln ProtectedPay Secure MaxSM
In the following discussion, Lincoln ProtectedPay Select CoreSM and Lincoln ProtectedPay Secure CoreSM, together, are referred to as the “Core options.”  Lincoln ProtectedPay Select PlusSM and Lincoln ProtectedPay Secure PlusSM, together are referred to as the “Plus options.” Lincoln ProtectedPay Select MaxSM, and Lincoln ProtectedPay Secure MaxSM, together, are referred to as the “Max options”.
You should carefully consider which option is the best option for you. Consider the following:
The Select options provide more investment choices, but overall, lower income rates.
The Secure options provide less investment choice, but overall, higher income rates.
The Core options provide level income that does not decrease if the Contract Value reaches $0 and the opportunity to transition to i4LIFE® Advantage Guaranteed Income Benefit.
The Plus options provide higher initial income that decreases if the Contract Value reaches $0.
The Max options provide the highest initial income that decreases further than the Plus option if the Contract Value reaches $0.
The income option selected is irrevocable unless you follow the termination guidelines listed below.
Protected Annual Income payments are based upon specified percentages of the Protected Income Base, which are age-based and may increase over time. For the Plus and Max options, your Protected Annual Income payments will be reduced if your Contract Value is reduced to zero. You may receive Protected Annual Income payments for your lifetime or for the lifetimes of you and your spouse if the joint life option is chosen.

Please note any withdrawals made prior to the minimum withdrawal age, as stated on the Rate Sheet, or that exceed the Protected Annual Income amount are considered Excess Withdrawals.  In most states, amounts that are payable to any assignee or assignee’s bank account are considered Excess Withdrawals. Excess Withdrawals may significantly reduce your Protected Income Base and Enhancement Base as well as your Protected Annual Income amount by an amount greater than the dollar amount of the Excess Withdrawal and will terminate the rider if the Protected Income Base is reduced to zero. If the Enhancement Base is reduced to zero, you will not be eligible for further Enhancements. Withdrawals will also negatively impact the availability of an Enhancement.

The Contractowner, Annuitant or Secondary Life may not be changed while this rider is in effect (except if the Secondary Life assumes ownership of the contract upon death of the Contractowner), including any sale or assignment of the contract as collateral.

Availability. Lincoln ProtectedPaySM riders are available for election on all new and existing contracts, subject to approval in your state. If you elect the rider at contract issue, it will be effective on the contract's effective date. If you elect the rider after the contract is issued, the rider will be effective on the next Valuation Date following approval by us. We reserve the right to discontinue offering post-issue elections of this rider at any time upon advanced written notice to you. This means that there is a chance you may not be able to elect it in the future. The initial Purchase Payment or Contract Value (if elected after the contract is issued) must be at least $25,000. Rider elections are subject to Home Office approval if your Contract Value totals $2 million or more.

Lincoln ProtectedPaySM is available for purchase with nonqualified and qualified (IRAs and Roth IRAs) annuity contracts. The Contractowner/Annuitant as well as the spouse under the joint life option must be age 85 or younger at the time this rider is elected.

Benefit Year. The Benefit Year is the 12-month period starting with the effective date of the rider and starting with each anniversary of the rider effective date after that. If your Benefit Year anniversary falls on a day that the New York Stock Exchange is closed, any benefit calculations scheduled to occur on that anniversary will occur on the next Valuation Date.

Protected Income Base and Enhancement Base. The Protected Income Base is a value used to calculate your Protected Annual Income amount. The initial Protected Income Base varies based on when you elect the rider. If you elect the rider at the time you purchase the Contract, the initial Protected Income Base will equal your initial Purchase Payment. If you elect the rider after we issue the Contract, the initial Protected Income Base will equal the Contract Value on the effective date of the rider. The Protected Income Base is increased by subsequent Purchase Payments, Account Value Step-ups and Enhancements, and decreased by Excess Withdrawals in accordance with the provisions set forth below. The Protected Income Base will be reset on each Benefit Year anniversary to the greater of the current Protected Income Base, the Enhancement Value, or the Account Value Step-up. The maximum Protected Income Base is $10 million, which includes the total guaranteed amounts under the Living Benefit Riders of all Lincoln Life contracts (or contracts issued by our affiliates) in which you (and/or spouse if joint life option) are the covered lives.

The Enhancement Base is the value used to calculate the amount that may be added to the Enhancement Value. The Enhancement Base is equal to the initial Purchase Payment or the Contract Value on the effective date of the rider, increased by subsequent Purchase Payments (according to the timeline outlined below) and decreased by Excess Withdrawals in accordance with the provisions set forth below. The Enhancement Base is not increased by an Enhancement or Account Value Step-up.

The Protected Income Base, Enhancement Value, and the Enhancement Base are not available to you as a lump sum withdrawal or as a Death Benefit.

Additional Purchase Payments received after the rider effective date automatically increase the Protected Income Base, Enhancement Value and the Enhancement Base by the amount of the Purchase Payment (not to exceed the maximum Protected Income Base); for example, a $10,000 additional Purchase Payment will increase the Protected Income Base, Enhancement Value and Enhancement Base by $10,000. Any Purchase Payment will be added immediately to the Protected Income Base and the Enhancement Value and will result in an increased Protected Annual Income amount but must be invested in the contract at least one Benefit Year before it will be added to the Enhancement Base. Any Purchase Payments made within the first 90 days after the effective date of the rider will be included in the Enhancement Base for purposes of calculating the Enhancement on the first Benefit Year anniversary.

After the first anniversary of the rider effective date, once cumulative additional Purchase Payments exceed $100,000, additional Purchase Payments will be limited to $50,000 per Benefit Year without Home Office approval. Additional Purchase Payments will not be allowed if the Contract Value decreases to zero for any reason, including market loss.

Enhancement. We will calculate the Enhancement Value on each Benefit Year anniversary during the Enhancement Period if no withdrawal occurred in that Benefit Year. The Enhancement will occur on a Benefit Year anniversary only if all following conditions are satisfied.

On each Benefit Year anniversary, the Protected Income Base will be the greater of the Contract Value and the Enhancement Value, if:

a.
the Contractowner/Annuitant (as well as the spouse if the joint life option is in effect) is under the age of 86;
b.
there are no withdrawals in the preceding Benefit Year;
c.
the rider is within the Enhancement Period;
d.
the Enhancement Value is greater than the Protected Income Base immediately prior to a Benefit Year anniversary adjustment;
e.
the Enhancement Value is greater than an Account Value Step-up that may have occurred on the same Benefit Year anniversary; and
f.
the Enhancement Base is greater than zero.

The initial Enhancement Value on the first Benefit Year anniversary, assuming no withdrawal occurred in that Benefit Year, is the sum of (A) and ((A multiplied by (B)), where “A” is the Enhancement Base and “B” is the Enhancement Rate. If there is a withdrawal, the Enhancement Value will not increase that year.

On each subsequent rider date anniversary thereafter, assuming no withdrawal occurred in that Benefit Year, the Enhancement Value established on the previous Benefit Year anniversary is increased by an amount equal to the Enhancement Base multiplied by the Enhancement Rate. Excess Withdrawals reduce the Protected Income Base, Enhancement Value and Enhancement Base as discussed below. The reduction to the Protected Income Base, Enhancement Value and the Enhancement Base could be more than the dollar amount of the withdrawal. Withdrawals less than or equal to the Protected Annual Income amount will not reduce the Protected Income Base, Enhancement Value or Enhancement Base.

The current Enhancement rate applicable to new rider elections is determined in our sole discretion based on current economic factors including interest rates and equity market volatility. Generally, the rate may increase or decrease based on changes in equity market volatility, prevailing interest rates, or as a result of other economic conditions. The rate structure is intended to help us provide the guarantees under the rider. The Enhancement rate for new rider elections may be higher or lower than prior rates, but for existing Contractowners that have elected the rider, your rate will not change as a result.

The Enhancement rate applicable to new rider elections is set forth in a supplement to a Rate Sheet prospectus supplement. The Rate Sheet indicates the Enhancement rate and the date by which your application or rider election form must be signed and dated for a rider to be issued with this rate. The rate may be superseded at any time, in our sole discretion, and may be higher or lower than the rate on the previous Rate Sheet.

The effective date of a subsequent Rate Sheet will be at least 10 days after it is filed. In order to get the rate indicated in a Rate Sheet, your application or rider election form must be sent to us and must be signed and dated on or after the effective date of the Rate Sheet. Current Rate Sheets will be included with the prospectus. You can also obtain the most current Rate Sheet by contacting your registered representative, online at www.lfg.com/VAprospectus or by calling us at 1-888-868-2583.

Note: The Enhancement is not available on any Benefit Year anniversary if an Account Value Step-up to the Protected Income Base occurs, or where there has been a withdrawal of Contract Value (including a Protected Annual Income payment) in the preceding Benefit Year. If you are eligible (as defined above) for the Enhancement in the next Benefit Year, the Enhancement will not occur until the Benefit Year anniversary of that year.

The following is an example of the impact of a 6% Enhancement on the Protected Income Base and assumes that no withdrawals have been made.

Initial Purchase Payment = $100,000; Protected Income Base = $100,000; Enhancement Base = $100,000; Enhancement Value = $100,000
Additional Purchase Payment on day 30 = $15,000; Protected Income Base = $115,000; Enhancement Base = $115,000; Enhancement Value = $115,000
On the first Benefit Year anniversary, because the additional Purchase Payment is within the first 90 days after the effective date of the rider, the Protected Income Base and Enhancement Value will not be less than $121,900 (= $115,000 + ($100,000 x 6% + $15,000 x 6%)).

Consider a further additional Purchase Payment on day 95 = $10,000; Protected Income Base = $125,000; Enhancement Base = $125,000; Enhancement Value = $125,000

As explained below and as noted above, an Enhancement and Account Value Step-up will not occur in the same year. If the Account Value Step-up provides an increase equal to or greater than what the Enhancement provides, you will not receive the Enhancement. It is possible that this could happen each Benefit Year (because the Account Value Step-up provided a larger increase each year), and therefore the Enhancement would not apply. The Enhancement or the Account Value Step-up cannot increase the Protected Income Base above the maximum Protected Income Base of $10 million.

An example of the impact of a withdrawal on the Enhancement is included in the Withdrawal Amount section below.

Enhancement Period. The Enhancement Period is a 10-year period that begins on the effective date of the rider. Enhancements are not available once the Enhancement Period has expired.

Account Value Step-ups. The Protected Income Base will increase up to equal the highest Contract Value on each Benefit Year anniversary if:

a.
the Contractowner/Annuitant (single life option), or the Contractowner/Annuitant and spouse (joint life option) are under age 86; and

b.
the highest Contract Value on that Benefit Year anniversary, after the deduction of any withdrawals (including surrender charges, the protected lifetime income fee and account fee), plus any Purchase Payments made on that date, is greater than the Protected Income Base immediately prior to that Benefit Year anniversary; and

c.
the Account Value Step-up is greater than the Enhancement Value on the same Benefit Year anniversary.

The Account Value Step-up will not increase the Enhancement Base or the Enhancement Value and is available even in those years when a withdrawal has occurred.

The protected lifetime income fee rate can change each time there is an Account Value Step-up. That means if the current fee rate has increased, this would cause an increase in your annual fee rate for this rider. If your fee rate is increased, you may opt out of the Account Value Step-up by giving us notice within 30 days after the Benefit Year anniversary. (See the Lincoln ProtectedPaySM Fee section earlier in this supplement.) If you decline an Account Value Step-up, you will continue to be eligible for future Account Value Step-ups if you meet the conditions listed above.

Following is an example of how the Account Value Step-ups and the Enhancement impact the Protected Income Base (assuming no withdrawals or additional Purchase Payments):

   
Contract
Value
   
Protected
Income
Base
   
Enhancement
Base
   
Enhancement Value
 
At issue
 
$
100,000
   
$
100,000
   
$
100,000
   
$
100,000
 
1st Benefit Year anniversary
 
$
104,000
   
$
106,000
   
$
100,000
   
$
106,000
 
2nd Benefit Year anniversary
 
$
115,000
   
$
115,000
   
$
100,000
   
$
112,000
 
3rd Benefit Year anniversary
 
$
116,000
   
$
118,000
   
$
100,000
   
$
118,000
 

On the first Benefit Year anniversary, the Contract Value is higher than the previous Protected Income Base of $100,000, but since the Enhancement would increase the Protected Income Base to a higher amount, the Protected Income Base is increased to equal the Enhancement Value of $106,000, and the Enhancement Base remains at $100,000.

On the second Benefit Year anniversary, the Contract Value of $115,000 is higher than the Enhancement Value of $112,000 ($112,000 = $106,000 + ($100,000 x 6%), so the Protected Income Base is increased to equal the Contract Value of $115,000, and the Enhancement Base remains at $100,000.

On the third Benefit Year anniversary, the Contract Value is higher than the previous Protected Income Base of $115,000, but since the Enhancement would increase the Protected Income Base to a higher amount, the Protected Income Base is increased to equal the Enhancement Value of $118,000, and the Enhancement Base remains at $100,000.

Withdrawal Amount. Protected Annual Income withdrawals are available at the minimum age stated on the Rate Sheet. The minimum age may vary between the different rider options. The Protected Annual Income amount may be withdrawn from the contract each Benefit Year. As long as the Protected Annual Income amount is not reduced to zero because of an Excess Withdrawal, these withdrawals may be taken for your lifetime (single life option) or the lifetimes of you and your spouse (joint life option). You will not be entitled to the Protected Annual Income amount if the Protected Income Base is reduced to zero as a result of an Excess Withdrawal. If either the Contract Value or the Protected Income Base is reduced to zero due to an Excess Withdrawal, the rider will terminate. The Protected Annual Income amount for the Plus and Max options will be reduced if your Contract Value is reduced to zero.

The Protected Annual Income amount is determined by multiplying the Protected Income Base by the applicable rate, which varies by which rider option is selected, based on your age and whether the single or joint life option has been elected, and, for the Plus and Max options, whether or not your Contract Value has been reduced to zero. Under the joint life option, the age of the younger of you or your spouse will be used. The Protected Annual Income amount will change upon an Account Value Step-up, an Enhancement (if applicable), additional Purchase Payments, and Excess Withdrawals, as described below.

The Protected Annual Income rates applicable to new rider elections are set forth in a supplement to this prospectus, called a Rate Sheet. The Rate Sheet indicates the Protected Annual Income rates and the date by which your application or rider election form must be signed and dated for a contract to be issued with those rates. The rates may be superseded at any time, in our sole discretion, and may be higher or lower than the rates on the previous Rate Sheet.

The effective date of a subsequent Rate Sheet will be at least 10 days after it is filed. In order to get the rate indicated in a Rate Sheet, your application or rider election form must be sent to us and must be signed and dated on or after the effective date of the Rate Sheet. Current Rate Sheets will be included with the prospectus. You can also obtain the most current Rate Sheet information by contacting your registered representative, online at www.lfg.com/VAprospectus, or by calling us at number listed in your prospectus.

After your first Protected Annual Income withdrawal, the Protected Annual Income rate will only increase on a Benefit Year anniversary on or after you have reached an applicable higher age band and after there has also been an Account Value Step-up. If you have reached an applicable higher age band and there has not also been a subsequent Account Value Step-up, then the Protected Annual Income rate will not increase until the next Account Value Step-up occurs. If you do not withdraw the entire Protected Annual Income amount during a Benefit Year, there is no carryover of the remaining amount into the next Benefit Year.

Core options: If your Contract Value is reduced to zero for any reason other than for an Excess Withdrawal, the remaining Protected Annual Income amounts for that Benefit Year will be paid in a lump sum. On the next rider anniversary, the scheduled amount will automatically resume and continue for your life (and your spouse’s life if the joint life option is chosen) under the Protected Annual Income Payout Option. You may not withdraw the remaining Protected Income Base, Enhancement Base or Enhancement Value in a lump sum.

Plus and Max options: If your Contract Value is reduced to zero for any reason other than for an Excess Withdrawal, the Protected Annual Income rate and amount will be immediately reduced, as reflected on your Rate Sheet. The Protected Annual Income amount payable as calculated in Table A of the Rate Sheet cannot exceed the remaining Contract Value. However, if the total Protected Annual Income amounts received in the Benefit Year your Contract Value is reduced to zero are less than the recalculated Protected Annual Income amount based on Table B of the Rate Sheet, the difference is payable for the remainder of that Benefit Year. Otherwise, you will not be able to receive further Protected Annual Income payments until the next Benefit Year anniversary. Withdrawals equal to the Protected Annual Income amount will continue automatically for your life (and your spouse’s life if applicable) under the Protected Annual Income Amount Annuity Payout Option. You may not withdraw the remaining Protected Income Base, Enhancement Base or Enhancement Value in a lump sum.

For all rider options, withdrawals equal to or less than the Protected Annual Income amount will not reduce the Protected Income Base, Enhancement Base or Enhancement Value. All withdrawals will decrease the Contract Value. Surrender charges are waived on cumulative withdrawals less than or equal to the Protected Annual Income amount.

The following example shows the calculation of the Protected Annual Income amount and how withdrawals less than or equal to the Protected Annual Income amount impact the Protected Income Base, the Enhancement Base, Enhancement Value, and the Contract Value. The example assumes a 4% Protected Annual Income rate and a Contract Value of $200,000 on the rider’s effective date:

Contract Value on the rider’s effective date …………...………….……..…….………
 
$
200,000
 
Protected Income Base and Enhancement Base on the
rider’s effective date …………...............................................................................…
 
$
200,000
 
Initial Protected Annual Income amount on the rider’s effective date
($200,000 x 4%) ……………………………………………………………………….….
 
$
8,000
 
Contract Value six months after rider’s effective date ………………………………
 
$
210,000
 
Protected Income Base, Enhancement Base and Enhancement Value six months after rider’s effective date ……………………………………………………….
 
$
200,000
 
Withdrawal six months after rider’s effective date …………………………………...
 
$
8,000
 
Contract Value after withdrawal ($210,000 - $8,000) ……………………………...
 
$
202,000
 
Protected Income Base, Enhancement Base and Enhancement Value after withdrawal ($200,000 – $0) ………………………………………………………………
 
$
200,000
 
Contract Value on first Benefit Year anniversary …………………………………….
 
$
205,000
 
Protected Income Base on first Benefit Year anniversary
 
$
205,000
 
Enhancement Value and Enhancement Base on first Benefit Year anniversary …
 
$
200,000
 
Protected Annual Income amount on first Benefit Year anniversary ($205,000 x 4%) ……………………………………………………………………………..……………
 
$
8,200
 

Since there was a withdrawal during the first year, an Enhancement is not available, but the Account Value Step-up was available and increased the Protected Income Base to the Contract Value of $205,000. On the first Benefit Year anniversary, the Protected Annual Income amount is $8,200 (4% x $205,000). The Enhancement Base and Enhancement Value remain at $200,000.

Purchase Payments added to the contract subsequent to the initial Purchase Payment will increase the Protected Annual Income amount by an amount equal to the applicable Protected Annual Income rate multiplied by the amount of the subsequent Purchase Payment. The Protected Annual Income payment amount will be recalculated immediately after a Purchase Payment is added to the contract.

Enhancements and Account Value Step-ups will increase the Protected Income Base and thus the Protected Annual Income amount. The Protected Annual Income amount, after the Protected Income Base is adjusted by an Enhancement or an Account Value Step-up, will be equal to the adjusted Protected Income Base multiplied by the applicable Protected Annual Income rate. For the Plus and Max options, the Protected Annual Income will be lower when your Contract Value is reduced to zero for any reason other than an Excess Withdrawal, which will result in a reduced Protected Annual income amount.

Excess Withdrawals. Excess Withdrawals are:

1.
the cumulative amounts withdrawn from the contract during the Benefit Year (including the current withdrawal) that exceed the Protected Annual Income amount at the time of the withdrawal;

2.
withdrawals made prior to the minimum withdrawal age, as stated on the Rate Sheet; or

3.
withdrawals that are payable to any assignee or assignee’s bank account.

When an Excess Withdrawal occurs:

1.
the Protected Income Base, Enhancement Base and Enhancement Value are reduced by the same proportion that the Excess Withdrawal reduces the Contract Value. This means that the reduction in the Protected Income Base, Enhancement Base and Enhancement Value could be more than the dollar amount of the withdrawal; and

2.
the Protected Annual Income amount will be recalculated to equal the applicable Protected Annual Income rate multiplied by the new (reduced) Protected Income Base (after the proportionate reduction for the Excess Withdrawal).

Your quarterly statements will include the Protected Annual Income amount (as adjusted for Protected Annual Income amount payments in a Benefit Year, Excess Withdrawals and additional Purchase Payments) available to you for the Benefit Year, if applicable, in order for you to determine whether a withdrawal may be an Excess Withdrawal. We encourage you to either consult with your registered representative or call us at the number provided in your prospectus if you have any questions about Excess Withdrawals.

The following example demonstrates the impact of an Excess Withdrawal on the Protected Income Base, the Enhancement Base, the Enhancement Value, the Protected Annual Income amount, and your Contract Value. The example assumes that the Contractowner makes a $12,000 withdrawal which causes an $11,815 reduction in the Protected Income Base and Enhancement Base.

Prior to Excess Withdrawal:
Contract Value = $60,000
Protected Income Base = $85,000
Enhancement Base = $85,000
Enhancement Value = $85,000
Protected Annual Income amount = $4,250 (5% of the Protected Income Base of $85,000)

After a $12,000 withdrawal ($4,250 is within the Protected Annual Income amount, $7,750 is the Excess Withdrawal): The Contract Value is reduced by the amount of the Protected Annual Income amount of $4,250 and the Protected Income Base. Enhancement Base and Enhancement Value are not reduced:

Contract Value = $55,750 ($60,000 - $4,250)
Protected Income Base = $85,000
Enhancement Base = $85,000
Enhancement Value = $85,000

The Contract Value is also reduced by the $7,750 Excess Withdrawal and the Protected Income Base, Enhancement Base, and Enhancement Value are reduced by 13.90%, the same proportion by which the Excess Withdrawal reduced the $55,750.

Contract Value ($7,750 / $55,750).
Contract Value = $48,000 ($55,750 - $7,750)
Protected Income Base = $73,185 ($85,000 x 13.90% = $11,815; $85,000 - $11,815 = $73,185)
Enhancement Base = $73,185 ($85,000 x 13.90% = $11,815; $85,000 - $11,815 = $73,185)
Enhancement Value = $73,185 ($85,000 x 13.90% = $11,815; $85,000 - $11,815 = $73,185)
Protected Annual Income amount = $3,659 (5% of $73,185 Protected Income Base)

On the following Benefit Year anniversary:
Contract Value = $43,000
Protected Income Base = $73,185
Enhancement Base = $73,185
Enhancement Value = $73,185
Protected Annual Income amount = $3,659 (5% x $73,185)

In a declining market, Excess Withdrawals may significantly reduce your Protected Income Base, Enhancement Base, Enhancement Value and Protected Annual Income amount. This is because the reduction in the benefit may be more than the dollar amount withdrawn from the Contract Value. If the Protected Income Base is reduced to zero due to an Excess Withdrawal, the rider will terminate. If the Contract Value is reduced to zero due to an Excess Withdrawal, the rider and Contract will terminate.

Surrender charges are waived on cumulative withdrawals less than or equal to the Protected Annual Income amount. Excess Withdrawals will be subject to surrender charges unless one of the waivers of surrender charge provisions set forth in the prospectus is applicable. Continuing with the prior example of the $12,000 withdrawal: the $4,250 Protected Annual Income amount is not subject to surrender charges; the $7,750 Excess Withdrawal may be subject to surrender charges according to the surrender charge schedule in your prospectus. See the prospectus – Charges and Other Deductions – Surrender Charge.

Withdrawals from IRA contracts will not be considered Excess Withdrawals (even if they exceed the Protected Annual Income amount) only if the withdrawals are taken as systematic installments of the amount needed to satisfy the required minimum distribution (RMD) rules under Internal Revenue Code Section 401(a)(9). In addition, in order for this exception for RMD’s to apply, the following must occur:


1.
Lincoln’s automatic withdrawal service is used to calculate and pay the RMD;

2.
The RMD calculation must be based only on the value in this contract;

3.
No withdrawals other than RMD’s are made within the Benefit Year (except as described in the next paragraph);

4.
This contract is not a beneficiary IRA; and

5.
The younger of you or your spouse (joint life option) reach the minimum age, as stated on the Rate Sheet.

If your RMD withdrawals during a Benefit Year are less than the Protected Annual Income amount, an additional amount up to the Protected Annual Income amount may be withdrawn and will not be subject to surrender charges. If a withdrawal, other than an RMD is made during the Benefit Year, then all amounts withdrawn in excess of the Protected Annual Income amount, including amounts attributable to RMDs, will be treated as Excess Withdrawals.

Distributions from qualified contracts are generally taxed as ordinary income. Distributions from nonqualified contracts that are includable in gross income are also generally taxed as ordinary income See the prospectus - Federal Tax Matters.

Protected Annual Income Payout Option. The Protected Annual Income Payout Option (“PAIPO”) is an Annuity Payout option under which the Contractowner (and spouse if applicable) will receive annuity payments for life. This option is different from other Annuity Payout options, including i4LIFE® Advantage, which are based on your Contract Value. If you are required to take annuity payments because you have reached the Annuity Commencement Date, you have the option of electing the PAIPO. If the Contract Value is reduced to zero and you have a remaining Protected Income Base, you will receive the PAIPO.

Core options: Contractowners may decide to choose the PAIPO over the applicable version of i4LIFE® Advantage Guaranteed Income Benefit if they feel this may provide a higher final payment over time and they may place more importance on this payment over access to the Account Value.

Plus and Max options: Annuity payments made under PAIPO will be equal to the Protected Income Base multiplied by the Protected annual Income rate shown in Table B of your Rate Sheet.

For all rider options, payment frequencies other than annual may be available. You will have no other contract features other than the right to receive annuity payments equal to the Protected Annual Income amount for your life or the life of you and your spouse for the joint life option. Once you elect the PAIPO, the death benefit terminates, and the Beneficiary will not receive a death benefit payment.

Death Prior to the Annuity Commencement Date. Lincoln ProtectedPaySM riders have no provision for a payout of the Protected Income Base, Enhancement Base or Enhancement Value upon death of the Contractowner or Annuitant and provides no increase in value to the Death Benefit over and above what the Death Benefit provides in the base contract. At the time of death, if the Contract Value equals zero, no Death Benefit options (as described in the prospectus) will be in effect. Election of a Lincoln ProtectedPaySM rider does not impact the Death Benefit options available for purchase with your annuity contract. All Death Benefit payments must be made in compliance with Internal Revenue Code Sections 72(s) or 401(a)(9) as applicable as amended from time to time. See the prospectus – The Contracts – Death Benefits.

Upon the death of the single life, this rider will end and no further Protected Annual Income amounts are available (even if there was a Protected Income Base in effect at the time of the death). Upon the first death under the joint life option, withdrawals up to the Protected Annual Income amount continue to be available for the life of the surviving spouse. The Enhancement and Account Value Step-up will continue, if applicable, as discussed above. Upon the death of the surviving spouse, the Lincoln ProtectedPaySM rider will end and no further Protected Annual Income amounts are available (even if there was a Protected Income Base in effect at the time of the death).

Termination. After the fifth Benefit Year anniversary, the Contractowner may terminate the rider by notifying us in writing of the request to terminate or by failing to adhere to Investment Requirements. Lincoln ProtectedPaySM rider will automatically terminate:
on the Annuity Commencement Date (except payments under the Protected Annual Income Amount Annuity Payout Option will continue if applicable);
upon the election of i4LIFE® Advantage;
upon death under the single life option or the death of the surviving spouse under the joint life option;
when the Protected Annual Income amount or Contract Value is reduced to zero due to an Excess Withdrawal;
if the Contractowner or Annuitant is changed (except if the surviving spouse assumes ownership of the contract upon death of the Contractowner) including any sale or assignment of the contract or any pledge of the contract as collateral;
on the date the Contractowner is changed pursuant to an enforceable divorce agreement or decree; or
upon surrender or termination of the underlying annuity contract.

The termination will not result in any increase in Contract Value equal to the Protected Income Base, Enhancement Base or Enhancement Value. Upon effective termination of this rider, the benefit and charges within this rider will terminate. If you terminate the rider, you must wait one year before you can elect any Living Benefit Rider available for purchase at that time, except i4LIFE® Advantage.

Core options: i4LIFE® Advantage Guaranteed Income Benefit option. Contractowners who elect Lincoln ProtectedPaySM Select Core may decide to later transition to i4LIFE® Advantage Select Guaranteed Income Benefit. Contractowners who elect Lincoln ProtectedPaySM Secure Core may decide to later transition to i4LIFE® Advantage Guaranteed Income Benefit Managed Risk. The transition must be made prior to the maximum age limit and prior to the Annuity Commencement Date. You cannot have both i4LIFE® Advantage and another Living Benefit Rider in effect on your Contract at the same time. See the prospectus – i4LIFE® Advantage Guaranteed Income Benefit Transitions.

Appendix B – Investment Requirements. The following section is added to Appendix B and outlines the Investment Requirements that apply to purchasers of Lincoln ProtectedPaySM. Please note that some of the funds listed below may not be available under your Contract.

Under the current Investment Requirements for Lincoln ProtectedPaySM Secure Core, Lincoln ProtectedPaySM Secure Plus, and Lincoln ProtectedPaySM Secure Max, you must allocate your Contract Value as follows:

Group 1
Investments must be at least 20% of Contract Value
 
JPMorgan Insurance Trust Core Bond Portfolio
LVIP PIMCO Low Duration Bond Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP SSGA Bond Index Fund
LVIP Delaware Bond Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP Vanguard Bond Allocation Fund
LVIP Delaware Diversified Income Fund
LVIP Western Asset Core Bond Fund
LVIP Delaware Limited-Term Diversified Income Fund
 
Group 2
Investments cannot exceed 80% of Contract Value
LVIP American Century Select Mid Cap Managed Volatility Fund
LVIP Global Conservative Allocation Managed Risk Fund
LVIP BlackRock Dividend Value Managed Volatility Fund
LVIP Global Growth Allocation Managed Risk Fund
LVIP BlackRock Global Allocation Managed Risk Fund
LVIP Global Moderate Allocation Managed Risk Fund
LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund
LVIP Invesco Select Equity Income Managed Volatility Fund
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund
LVIP JPMorgan Select Mid Cap Value Managed Volatility Fund
LVIP Blended Large Cap Growth Managed Volatility Fund
LVIP MFS International Equity Managed Volatility Fund
LVIP Blended Mid Cap Managed Volatility Fund
LVIP Multi-Manager Global Equity Managed Volatility Fund
LVIP ClearBridge Franklin Select Large Cap Managed Volatility Fund
LVIP SSGA Global Tactical Allocation Managed Volatility Fund
LVIP Dimensional International Equity Managed Volatility Fund
LVIP SSGA International Managed Volatility Fund
LVIP Dimensional U.S. Equity Managed Volatility Fund
LVIP SSGA Large Cap Managed Volatility Fund
LVIP Fidelity Institutional AM ® Select Core Equity Managed Volatility Fund
LVIP SSGA SMID Cap Managed Volatility Fund
LVIP Franklin Templeton Global Equity Managed Volatility Fund
LVIP U.S. Aggressive Growth Allocation Managed Risk Fund
LVIP Global Aggressive Growth Allocation Managed Risk Fund
LVIP U.S. Growth Allocation Managed Risk Fund
Group 3
Investments cannot exceed 10% of Contract Value
No Subaccounts at this time.
 

The fixed account is only available for dollar cost averaging.

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

JPMorgan Insurance Trust Core Bond Portfolio
LVIP Global Growth Allocation Managed Risk Fund
LVIP BlackRock Global Allocation Managed Risk Fund
LVIP Global Moderate Allocation Managed Risk Fund
LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund
LVIP PIMCO Low Duration Bond Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP SSGA Bond Index Fund
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund
LVIP SSGA Global Tactical Allocation Managed Volatility Fund
LVIP Delaware Bond Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP U.S. Aggressive Growth Allocation Managed Risk Fund
LVIP Delaware Diversified Income Fund
LVIP U.S. Growth Allocation Managed Risk Fund
LVIP Delaware Limited-Term Diversified Income Fund
LVIP Vanguard Bond Allocation Fund
LVIP Global Aggressive Growth Allocation Managed Risk Fund
LVIP Western Asset Core Bond Fund
LVIP Global Conservative Allocation Managed Risk Fund
 

Under the current Investment Requirements for Lincoln ProtectedPaySM Select Core, Lincoln ProtectedPaySM Select Plus, and Lincoln ProtectedPaySM Select Max, you must allocate your Contract Value as follows:


Group 1
Investments must be at least 20% of Contract Value
 
JPMorgan Insurance Trust Core Bond Portfolio
LVIP PIMCO Low Duration Bond Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP SSGA Bond Index Fund
LVIP Delaware Bond Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP Vanguard Bond Allocation Fund
LVIP Delaware Diversified Income Fund
LVIP Western Asset Core Bond Fund
LVIP Delaware Limited-Term Diversified Income Fund
 
Group 2
Investments cannot exceed 80% of Contract Value
AB VPS Small/Mid Cap Value Portfolio
LVIP Global Aggressive Growth Allocation Managed Risk Fund
American Century VP Balanced Fund
LVIP Global Conservative Allocation Managed Risk Fund
American Century VP Large Company Value Fund
LVIP Global Growth Allocation Managed Risk Fund
ClearBridge Variable Large Cap Growth Portfolio
LVIP Global Moderate Allocation Managed Risk Fund
Delaware VIP ® Small Cap Value Series
LVIP Government Money Market Fund
Fidelity ® VIP Balanced Portfolio
LVIP JPMorgan High Yield Fund
Fidelity ® VIP Contrafund ® Portfolio
LVIP JPMorgan Retirement Income Fund
Fidelity ® VIP FundsManager ® 50% Portfolio
LVIP MFS International Growth Fund
Fidelity ® VIP Mid Cap Portfolio
LVIP MFS Value Fund
First Trust Capital Strength Portfolio
LVIP Mondrian International Value Fund
First Trust/Dow Jones Dividend & Income Allocation Portfolio
LVIP SSGA Conservative Index Allocation Fund
Franklin Allocation VIP Fund
LVIP SSGA Conservative Structured Allocation Fund
Franklin Income VIP Fund
LVIP SSGA Developed International 150 Fund
Franklin Multi-Asset Variable Conservative Growth Fund
LVIP SSGA Global Tactical Allocation Managed Volatility Fund
Franklin Mutual Shares VIP Fund
LVIP SSGA International Index Fund
Invesco V.I. Equally-Weighted S&P 500 Fund
LVIP SSGA Large Cap 100 Fund
Invesco V.I. EQV International Equity Fund
LVIP SSGA Mid-Cap Index Fund
JPMorgan Insurance Trust Global Allocation Portfolio
LVIP SSGA Moderate Index Allocation Fund
LVIP American Global Growth Fund
LVIP SSGA Moderate Structured Allocation Fund
LVIP American Growth Fund
LVIP SSGA Moderately Aggressive Index Allocation Fund
LVIP American Growth-Income Fund
LVIP SSGA Moderately Aggressive Structured Allocation Fund
LVIP American International Fund
LVIP SSGA S&P 500 Index Fund
LVIP Baron Growth Opportunities Fund
LVIP SSGA Small-Cap Index Fund
LVIP BlackRock Global Allocation Fund
LVIP SSGA Small-Mid Cap 200 Fund
LVIP BlackRock Global Allocation Managed Risk Fund
LVIP T. Rowe Price Structured Mid-Cap Growth Fund
LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund
LVIP U.S. Aggressive Growth Allocation Managed Risk Fund
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund
LVIP U.S. Growth Allocation Managed Risk Fund
LVIP Delaware Mid Cap Value Fund
LVIP Vanguard Domestic Equity ETF Fund
LVIP Delaware Social Awareness Fund
LVIP Vanguard International Equity ETF Fund
LVIP Delaware U.S. Growth Fund
LVIP Wellington SMID Cap Value Fund
LVIP Delaware Value Fund
MFS ® VIT Growth Series
LVIP Delaware Wealth Builder Fund
MFS ® VIT Total Return Series
LVIP Dimensional International Core Equity Fund
Putnam VT George Putnam Balanced Fund
LVIP Dimensional U.S. Core Equity 1 Fund
Putnam VT Large Cap Value Fund
LVIP Dimensional U.S. Core Equity 2 Fund
 

The fixed account is only available for dollar cost averaging.

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

American Century VP Balanced Fund
LVIP Global Growth Allocation Managed Risk Fund
Fidelity® VIP Balanced Portfolio
LVIP Global Moderate Allocation Managed Risk Fund
Fidelity® VIP FundsManager® 50% Portfolio
LVIP JPMorgan Retirement Income Fund
First Trust/Dow Jones Dividend & Income Allocation Portfolio
LVIP PIMCO Low Duration Bond Fund
Franklin Allocation Fund
LVIP SSGA Bond Index Fund
Franklin Multi-Asset Variable Conservative Growth Fund
LVIP SSGA Conservative Index Allocation Fund
JPMorgan Insurance Trust Core Bond Portfolio
LVIP SSGA Conservative Structured Allocation Fund
LVIP BlackRock Global Allocation Fund
LVIP SSGA Global Tactical Allocation Managed Volatility Fund
LVIP BlackRock Global Allocation Managed Risk Fund
LVIP SSGA Moderate Index Allocation Fund
LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund
LVIP SSGA Moderate Structured Allocation Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP SSGA Moderately Aggressive Index Allocation Fund
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund
LVIP SSGA Moderately Aggressive Structured Allocation Fund
LVIP Delaware Bond Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP U.S. Aggressive Growth Allocation Managed Risk Fund
LVIP Delaware Diversified Income Fund
LVIP U.S. Growth Allocation Managed Risk Fund
LVIP Delaware Limited-Term Diversified Income Fund
LVIP Vanguard Bond Allocation Fund
LVIP Delaware Wealth Builder Fund
LVIP Western Asset Core Bond Fund
LVIP Global Aggressive Growth Allocation Managed Risk Fund
MFS® VIT Total Return Series
LVIP Global Conservative Allocation Managed Risk Fund
Putnam VT George Putnam Balanced Fund

Additionally, Contract Value may be allocated in accordance with certain asset allocation models made available to you by your broker-dealer. If so, currently 100% of the Contract Value can be allocated to one of the following models: Active-Passive Global Growth Allocation Model, Dimensional/Vanguard Moderate Allocation Model, Dimensional/Vanguard Global Growth Allocation Model, Multi-Manager Domestic Growth Allocation Model or Multi-Manager Moderate Allocation Model.  You may only choose 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.

Please keep this supplement for future reference.









THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Lincoln Life Variable Annuity Account N
ChoicePlusSM Signature
Supplement dated  _______, 2022 to the prospectus dated May 1, 2022

This supplement to the prospectus for your individual variable annuity contract describes revisions to 4LATER® Select Advantage riders elected on and after  ________, 2022. This supplement is for informational purposes and requires no action on your part.

OVERVIEW

The following changes will apply to 4LATER® Select Advantage riders elected on and after ________, 2022 (subject to state approval):
the current protected lifetime income fee may increase annually after ten years from the rider effective date;
the Guaranteed Maximum Annual Fee is higher;
the Enhancement Period does not reset;
the Protected Income Base is the highest of the previous Protected Income Base, Account Value Step-up, or Enhancement Value.
DESCRIPTION OF CHANGES

The following discussion describes changes that are incorporated into the specified sections of your prospectus.
Special Terms – The following term is added to the Special Terms section:
Enhancement Value: A value to which the Protected Income Base will increase, subject to certain conditions and limitations.

Important Information About Your Contract – The following line item replaces the current line item on the Minimum and Maximum Annual Fee Table:

 
Minimum
Maximum
Optional benefits available for an additional charge (for a single optional benefit, if elected)
0.40%
2.75%

Fee TablesAnnual Contract Expenses. The following entry is added to the Annual Contract Expenses Table under Optional Benefit Expenses:

 
Single Life
Joint Life
4LATER® Select Advantage* riders purchased on and after __, 2022
   
Guaranteed Maximum Annual Charge ………………………………
2.75%
2.75%
*As an annualized percentage of the Protected Income Base, as increased by subsequent Purchase Payments and decreased by withdrawals This charge is deducted from the Contract Value on a quarterly basis. The current rider charge rate will be less than or equal to the stated maximum charge rate and will be disclosed in a Rate Sheet prospectus supplement.

Fee Tables – ExamplesThe following Example is added to your prospectus.

The following Example is intended to help you compare the cost of investing in the contract with the cost of investing in other variable annuity contracts. These costs include transaction expenses, contract fees, annual contract expenses, and annual fund fees and expenses. The Example has been calculated using the fees and expenses of the funds prior to the application of any contractual waivers and/or reimbursements.

The Example assumes that you invest $100,000 in the contract for the time periods indicated. The Example also assumes that your investment has a 5% return each year, the maximum fees and expenses of any of the funds and that the EGMDB Death Benefit and 4LATER® Select Advantage at the guaranteed maximum charge are in effect. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
1)
If you surrender your contract at the end of the applicable time period:
 
1 year
 
3 years
 
5 years
 
10 years
 
Signature 1
XX
 
XX
 
XX
 
XX
 
Signature 2
XX
 
XX
 
XX
 
XX
 

2)
If you annuitize or do not surrender your contract at the end of the applicable time period:
 
1 year
 
3 years
 
5 years
 
10 years
 
Signature 1
XX
 
XX
 
XX
 
XX
 
Signature 2
XX
 
XX
 
XX
 
XX
 


Charges and Other Deductions Protected Lifetime Income Fee. The following information is added to the Protected Lifetime Income Fee section of your prospectus.

For 4LATER® Select Advantage riders elected on and after _____, 2022, after ten years from the rider effective date, the protected lifetime income fee rate may increase annually on the Benefit Year anniversary at Lincoln’s sole discretion, up to the stated guaranteed maximum charge rate. You may opt out of this fee rate increase by giving us notice within 30 days after the increase. If you opt out of this fee rate increase, you will no longer be eligible for Account Value Step-ups. Other situations that may cause an increase to the protected lifetime income fee are discussed in the prospectus.

Benefits Available Under the Contract. The 4LATER® Select Advantage line item on the Benefits Available Under the Contract table is replaced with the following line item:

Name of Benefit
Purpose
Maximum Fee
Brief Description of Restrictions/ Limitations
4LATER® Select Advantage
Provides:
•Protected Income Base which will be used to establish the amount of the Guaranteed Income Benefit upon the election of i4LIFE® Advantage.
•An Enhancement to the Protected Income Base.
•Account Value Step-ups of the Protected Income Base.
Must later transition to i4LIFE® Advantage Select Guaranteed Income Benefit in order to receive a benefit from4LATER® Select Advantage. It is designed for those seeking growth of the Protected Income Base who do not need to take withdrawals right away. Designed primarily for the purchasers of nonqualified contracts where the Contractowner and Annuitant are different people (single life option) or with joint life benefits where the Secondary Life is not a spouse.
Riders elected on and after _____, 2022:
2.75% Single and Joint Life Options
Riders elected prior to _____, 2022:
2.25% Single Life Option
2.45% Joint Life Option
(as a percentage of the Protected Income Base)
•Investment Requirements apply.
•Withdrawals could significantly reduce or terminate the benefit.
•Not available for purchase with a qualified contract.
•Subject to a $10 million maximum Protected Income Base across all Living Benefit Riders.
•Purchase Payments and step-ups may increase fee rate.
•Additional Purchase Payments may be limited.

Benefits Available Under the Contract - 4LATER® Select Advantage.

Protected Income Base and Enhancement Base. This section is replaced in its entirety with the following:

The Protected Income Base is a value used to calculate the Guaranteed Income Benefit amount under i4LIFE® Advantage Select Guaranteed Income Benefit at a later date. The initial Protected Income Base varies based on when you elect the rider. If you elect the rider at the time you purchase the Contract, the initial Protected Income Base will equal your initial Purchase Payment. If you elect the rider after we issue the Contract, the initial Protected Income Base will equal the Contract Value on the effective date of the rider. The Protected Income Base is increased by subsequent Purchase Payments, Account Value Step-ups and Enhancements, and decreased by all withdrawals in accordance with the provisions set forth below. The maximum Protected Income Base is $10 million, which includes the total guaranteed amounts under the Living Benefit Riders of all Lincoln Life contracts (or contracts issued by our affiliates) in which you (and/or spouse if joint life option) are the covered lives.

Rider elections on and after _____ , 2022. The Protected Income Base will be reset on each Benefit Year anniversary to the greater of the current Protected Income Base, the Enhancement Value, or the Account Value Step-up. The Enhancement Base is the value used to calculate the amount that may be added to the Enhancement Value. The Enhancement Base is equal to the initial Purchase Payment or the Contract Value on the effective date of the rider, increased by subsequent Purchase Payments and decreased by all withdrawals in accordance with the provisions set forth below. The Enhancement Base is not increased by an Enhancement. The Protected Income Base, Enhancement Value, and the Enhancement Base are not available to you as a lump sum withdrawal or as a Death Benefit.

Additional Purchase Payments received after the rider effective date automatically increase the Protected Income Base, Enhancement Value and the Enhancement Base by the amount of the Purchase Payment (not to exceed the maximum Protected Income Base); for example, a $10,000 additional Purchase Payment will increase the Protected Income Base, Enhancement Value and Enhancement Base by $10,000. Any Purchase Payment will be added immediately to the Protected Income Base and the Enhancement Value and will result in an increased Protected Annual Income amount but must be invested in the contract at least one Benefit Year before it will be added to the Enhancement Base. Any Purchase Payments made within the first 90 days after the effective date of the rider will be included in the Enhancement Base for purposes of calculating the Enhancement on the first Benefit Year anniversary.

Rider elections on and after June 11, 2018, and prior to ____, 2022. The Enhancement Base is the value used to calculate the Enhancement Value. The Enhancement Base is equal to the initial Purchase Payment or the Contract Value on the effective date of the rider, increased by subsequent Purchase Payments and Account Value Step-ups, and decreased by all withdrawals in accordance with the provisions set forth below. The Enhancement Base is not increased by an Enhancement. The Protected Income Base and the Enhancement Base are not available to you as a lump sum withdrawal or as a Death Benefit.

Additional Purchase Payments received after the rider effective date automatically increase the Protected Income Base, and the Enhancement Base by the amount of the Purchase Payment (not to exceed the maximum Protected Income Base); for example, a $10,000 additional Purchase Payment will increase the Protected Income Base and Enhancement Base by $10,000. Any Purchase Payment will be added immediately to the Protected Income Base and the Enhancement Base but must be invested in the contract at least one Benefit Year before it will be used in calculating an Enhancement. Any Purchase Payments made within the first 90 days after the effective date of the rider will be included in the Protected Income Base and Enhancement Base for purposes of calculating the Enhancement on the first Benefit Year anniversary.

Rider elections prior to June 11, 2018 do not have an Enhancement Base.

All versions of the rider. After the first anniversary of the rider effective date, once cumulative additional Purchase Payments exceed $100,000, additional Purchase Payments will be limited to $50,000 per Benefit Year without Home Office approval. Additional Purchase Payments will not be allowed if the Contract Value decreases to zero for any reason, including market loss.

Each withdrawal reduces the Protected Income Base, Enhancement Base, and Enhancement Value (if applicable), in the same proportion as the amount withdrawn reduces the Contract Value on the Valuation Date of the withdrawal. The reduction to the Protected Income Base and Enhancement Base could be more than the dollar amount of the withdrawal.

The following example demonstrates the impact of a withdrawal on the Protected Income Base, Enhancement Base, Enhancement Value (if applicable), and the Contract Value. The Contractowner makes a withdrawal of $11,200 which causes a $12,550 reduction in the Protected Income Base, Enhancement Base, and Enhancement Value (if applicable).

Prior to the withdrawal:
Contract Value = $112,000
Protected Income Base = $125,500
Enhancement Base = $125,500
Enhancement Value = $125,500

After a withdrawal of $11,200, the Contract Value is reduced by 10% ($11,200) and the Protected Income Base, Enhancement Value and Enhancement Base are also reduced by 10%, the same proportion by which the withdrawal reduced the Contract Value ($11,200 ÷ $112,000)

Contract Value = $100,800 ($112,000 - $11,200)
Protected Income Base = $112,950 ($125,500 x 10% = $12,550; $125,500 - $12,550 = $112,950)
Enhancement Base = $112,950 ($125,500 x 10% = $12,550; $125,500 - $12,550 = $112,950)
Enhancement Value = $112,950 ($125,500 x 10% = $12,550; $125,500 - $12,550 = $112,950)

In a declining market, withdrawals may significantly reduce your Protected Income Base, Enhancement Base, and Enhancement Value and as a result will reduce your future Guaranteed Income Benefit. If the Protected Income Base is reduced to zero due to withdrawals, this rider will terminate. If the Contract Value is reduced to zero due to a withdrawal, both the rider and the Contract will terminate.

Enhancement. The following discussion replaces the first two paragraphs of this section.

Rider elections on and after _____ , 2022. We will calculate the Enhancement Value on each Benefit Year anniversary during the Enhancement Period if no withdrawal occurred in that Benefit Year. The Enhancement will occur on a Benefit Year anniversary only if all following conditions are satisfied.

On each Benefit Year anniversary, the Protected Income Base will be the greater of the Account Value and the Enhancement Value, if:

a.
the Contractowner/Annuitant (as well as the spouse if the joint life option is in effect) is under the age of 86;
b.
there are no withdrawals in the preceding Benefit Year;
c.
the rider is within the Enhancement Period;
d.
the Enhancement Value is greater than the Protected Income Base immediately prior to a Benefit Year anniversary adjustment;
e.
the Enhancement Value is greater than an Account Value Step-up that may have occurred on the same Benefit Year anniversary; and
f.
the Enhancement Base is greater than zero.

The initial Enhancement Value on the first Benefit Year anniversary, assuming no withdrawal occurred in that Benefit Year, is the sum of (A) and ((A multiplied by (B)), where “A” is the Enhancement Base and “B” is the Enhancement Rate. If there is a withdrawal, the Enhancement Value will not increase that year.

On each subsequent rider date anniversary thereafter, assuming no withdrawal occurred in that Benefit Year, the Enhancement Value established on the previous Benefit Year anniversary is increased by an amount equal to the Enhancement Base multiplied by the Enhancement Rate. Withdrawals reduce the Protected Income Base, Enhancement Value and Enhancement Base as discussed below. The reduction to the Protected Income Base, Enhancement Value and the Enhancement Base could be more than the dollar amount of the withdrawal. Withdrawals less than or equal to the Protected Annual Income amount will not reduce the Protected Income Base, Enhancement Value or Enhancement Base.

Rider elections on and after June 11, 2018, and prior to ____, 2022. You are eligible for an increase in the Protected Income Base through an Enhancement on each Benefit Year anniversary if:

a.
the Annuitant (single life option) or the Annuitant and Secondary Life (joint life option) are under age 86;
b.
there were no withdrawals in the preceding Benefit Year;
c.
the rider is within the Enhancement Period (described below);
d.
the Protected Income Base after the Enhancement amount is added would be greater than the Protected Income Base after the Account Value Step-up; and
e.
the Enhancement Base is greater than zero.
The Enhancement equals the Enhancement Base or the Protected Income Base (depending on the rider purchase date), minus Purchase Payments received in the preceding Benefit Year, multiplied by the Enhancement Rate. The Protected Income Base and the Enhancement Base are not reduced by Purchase Payments received in the first 90 days after the rider effective date.

Enhancement Period. This section is replaced in its entirety by the following paragraph:

The Enhancement Period is a 10-year period that begins on the effective date of the rider.
Rider elections prior to June 11, 2018 and on and after _____ , 2022, have only one 10-year Enhancement Period. The Enhancement Period does not reset, and Enhancements are not available once the Enhancement Period has expired.
Riders elected on and after June 11, 2018, and prior to______, 2022, have multiple Enhancement Periods that reset immediately following an Account Value Step-up. If during any Enhancement Period there are no Account Value Step-ups, the Enhancements will stop at the end of the Enhancement Period and will not restart until the next Benefit Year anniversary following the Benefit Year anniversary upon which an Account Value Step-up occurs.



Account Value Step-ups. The following disclosure replaces the first two paragraphs of this section:

For riders elections on and after ____, 2022, the Protected Income Base will increase up to equal the highest Contract Value on each Benefit Year anniversary if:

a.
the Contractowner/Annuitant (single life option), or the Contractowner/Annuitant and spouse (joint life option) are under age 86; and

b.
the highest Contract Value on that Benefit Year anniversary, after the deduction of any withdrawals (including surrender charges, the protected lifetime income fee and account fee), plus any Purchase Payments made on that date, is greater than the Protected Income Base immediately prior to that Benefit Year anniversary; and

c.
the Account Value Step-up is greater than the Enhancement Value on the same Benefit Year anniversary.

The Account Value Step-up will not increase the Enhancement Base or the Enhancement Value and is available even in those years when a withdrawal has occurred.

 For riders elections prior to  ____, 2022, the Protected Income Base will increase up to equal the highest Contract Value on each Benefit Year anniversary if:

a.
the Contractowner/Annuitant (single life option), or the Contractowner/Annuitant and spouse (joint life option) are under age 86; and

b.
the Contract Value on that Benefit Year anniversary, after the deduction of any withdrawals (including surrender charges, the protected lifetime income fee and account fee), plus any Purchase Payments made on that date, is equal to or greater than the Protected Income after an Enhancement (if any).

For riders elected on or after June 11, 2018, and prior to ____, 2022, each time the Account Value Step-up occurs, a new Enhancement Period starts. The Account Value Step-up is available even in years when a withdrawal has occurred.

Termination. The following information is added to this section: For riders elections on and after ____, 2022, the termination of your rider will not result in any increase in Contract Value equal to the Protected Income Base, Enhancement Base or Enhancement Value.


Please keep this supplement for future reference.



Part A
The Prospectus for the Lincoln ChoicePlusSM Signature variable annuity contract, as supplemented, is incorporated herein by reference to Post-Effective Amendment No. 34 (File No. 333-170897) filed on April 19, 2022.
Part B
The Statement of Additional Information for the Lincoln ChoicePlusSM Signature variable annuity contract is incorporated herein by reference to Post-Effective Amendment No. 34 (File No. 333-170897) filed on April 19, 2022.





Lincoln Life Variable Annuity Account N
PART C - OTHER INFORMATION
Item 27. Exhibits
(b) Not applicable

B-2

B-3

(h) Fund Participation Agreements and Amendments between The Lincoln National Life Insurance Company and:
B-4

(j) Rule 22c-2 Agreements between The Lincoln National Life Insurance Company and:
(l)(1) Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm to be filed by amendment.
(m) Not applicable
(n) Not applicable
B-5

Item 28. Directors and Officers of the Depositor
The following list contains the officers and directors of The Lincoln National Life Insurance Company who are engaged directly or indirectly in activities relating to Lincoln Life Variable Annuity Account N as well as the contracts. The list also shows The Lincoln National Life Insurance Company's executive officers.
Name
Positions and Offices with Depositor
Craig T. Beazer*
Executive Vice President, General Counsel and Director
Jayson R. Bronchetti*
Executive Vice President, Chief Investment Officer and Director
Adam M. Cohen*
Senior Vice President and Chief Accounting Officer
Ellen G. Cooper*
President and Director
Randal J. Freitag*
Executive Vice President, Chief Financial Officer and Director
Stephen B. Harris*
Senior Vice President and Chief Ethics and Compliance Officer
Shantanu Mishra*
Senior Vice President and Treasurer
Keith J. Ryan**
Vice President and Director
Nancy A. Smith*
Senior Vice President and Secretary
Joseph D. Spada***
Vice President and Chief Compliance Officer for Separate Accounts
*Principal business address is 150 N. Radnor-Chester Road, Radnor, PA 19087
**Principal business address is 1301 South Harrison Street, Fort Wayne, IN 46802
***Principal business address is 350 Church Street, Hartford, CT 06103
Item 29. Persons Controlled by or Under Common Control with the Depositor or Registrant
Item 30. Indemnification
a) Brief description of indemnification provisions.
In general, Article VII of the By-Laws of The Lincoln National Life Insurance Company (Lincoln Life or Company) provides that Lincoln Life will indemnify certain persons against expenses, judgments and certain other specified costs incurred by any such person if he/she is made a party or is threatened to be made a party to a suit or proceeding because he/she was a director, officer, or employee of Lincoln Life, as long as he/she acted in good faith and in a manner he/she reasonably believed to be in the best interests of, or act opposed to the best interests of, Lincoln Life. Certain additional conditions apply to indemnification in criminal proceedings.
In particular, separate conditions govern indemnification of directors, officers, and employees of Lincoln Life in connection with suits by, or in the right of, Lincoln Life.
Please refer to Article VII of the By-Laws of Lincoln Life (Exhibit no. f(b) hereto) for the full text of the indemnification provisions. Indemnification is permitted by, and is subject to the requirements of, Indiana law.
b) Undertaking pursuant to Rule 484 of Regulation C under the Securities Act of 1933:
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the provisions described in Item 28(a) above or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer, or controlling person of the Registrant in the successful defense of any such action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
B-6

Item 31. Principal Underwriter
(a) Lincoln Financial Distributors, Inc. (“LFD”) currently serves as Principal Underwriter for: Lincoln National Variable Annuity Account C; Lincoln National Flexible Premium Variable Life Account D; Lincoln National Variable Annuity Account E; Lincoln National Flexible Premium Variable Life Account F; Lincoln National Flexible Premium Variable Life Account G; Lincoln National Variable Annuity Account H; Lincoln Life & Annuity Variable Annuity Account H; Lincoln Life Flexible Premium Variable Life Account J; Lincoln Life Flexible Premium Variable Life Account K; Lincoln National Variable Annuity Account L; Lincoln Life & Annuity Variable Annuity Account L; Lincoln Life Flexible Premium Variable Life Account M; Lincoln Life & Annuity Flexible Premium Variable Life Account M; Lincoln Life Variable Annuity Account N; Lincoln New York Account N for Variable Annuities; Lincoln Life Variable Annuity Account Q; Lincoln Life Flexible Premium Variable Life Account R; LLANY Separate Account R for Flexible Premium Variable Life Insurance; Lincoln Life Flexible Premium Variable Life Account S; LLANY Separate Account S for Flexible Premium Variable Life Insurance; Lincoln Life Variable Annuity Account T; Lincoln Life Variable Annuity Account W; and Lincoln Life Flexible Premium Variable Life Account Y and Lincoln Life & Annuity Flexible Premium Variable Life Account Y; Lincoln Life Variable Annuity Account JF-H; Lincoln Life Variable Annuity Account JF-I; Lincoln Life Flexible Premium Variable Life Account JF-A; Lincoln Life Flexible Premium Variable Life Account JF-C; Lincoln Life Variable Annuity Account JL-A; Lincoln Life & Annuity Flexible Premium Variable Life Account JA-B; Lincoln Variable Insurance Products Trust; Lincoln Advisors Trust.
(b) Officers and Directors of Lincoln Financial Distributors, Inc.:
Name
Positions and Offices with Underwriter
Andrew J. Bucklee*
Senior Vice President and Director
Claire H. Hanna*
Secretary
John C. Kennedy*
President, Chief Executive Officer and Director
Shantanu Mishra*
Senior Vice President and Treasurer
William A. Nash**
Senior Vice President and Director
Thomas P. O'Neill*
Senior Vice President, Chief Operating Officer and Head of Financial
Institutions Group
Timothy J. Seifert Sr*
Senior Vice President and Director
Vacant
Chief Compliance Officer
*Principal Business address is 150 N. Radnor-Chester Road, Radnor, PA 19087
**Principal Business address is 3108 Rhett Butler Place, Charlotte, NC 28270
(c) N/A
Item 32. Location of Accounts and Records
This information is provided in the Registrant’s most recent report on Form N-CEN.
Item 33. Management Services
Not Applicable.
Item 34. Fee Representation
Lincoln Life represents that the fees and charges deducted under the contracts, in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed by Lincoln Life.

SIGNATURES

(a)
As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant has caused this Post-Effective Amendment No. 36 to the registration statement to be signed on its behalf, in the City of Fort Wayne, and the State of Indiana on this 5th day of August, 2022 at 3:59 pm.

Lincoln Life Variable Annuity Account N
 (Registrant)
ChoicePlus Signature

By: /s/ Delson R. Campbell                                                                     
Delson R. Campbell
Vice President, The Lincoln National Life Insurance Company

Signed on its behalf, in the City of Hartford, and the State of Connecticut on this 8th day of August, 2022 at 11:45 am.

The Lincoln National Life Insurance Company
(Depositor)

By: /s/ Michelle L. Grindle                                                                     
Michelle L. Grindle
(Signature-Officer of Depositor)
Vice President, The Lincoln National Life Insurance Company

(b) As required by the Securities Act of 1933, this Amendment to the registration statement has been signed by the following persons in their capacities indicated on August 5, 2022 at 3:59 pm.

Signature
Title
 
*/s/ Ellen G. Cooper  
Ellen G. Cooper
 
President and Director
(Principal Executive Officer)
 
* /s/ Randal J. Freitag  
Randal J. Freitag
 
Executive Vice President, Chief Financial Officer, and Director
(Principal Financial Officer)
 
* /s/ Craig T. Beazer  
Craig T. Beazer
 
Executive Vice President and Director
 
* /s/ Jayson R. Bronchetti  
Jayson R. Bronchetti
 
Executive Vice President, Chief Investment Officer, and Director
 
* /s/ Adam M. Cohen  
Adam M. Cohen
 
Senior Vice President and Chief Accounting Officer
 
* /s/ Keith J. Ryan  
Keith J. Ryan
 
Vice President and Director
 
* By /s/ Delson R. Campbell, Pursuant to a Power of Attorney
       Delson R. Campbell

B-7

Exhibit d(39)
The Lincoln National Life Insurance Company

VARIABLE ANNUITY LIVING BENEFITS RIDER

This optional Rider is made a part of the entire Contract to which it is attached. Except as stated in this Rider, it is subject to all provisions contained in the Contract. In case of any conflict between the provisions of the Contract and this Rider, the provisions of this Rider will control. Coverage under this Rider begins on the Rider Date shown on the Rider Specifications.

SUMMARY OF RIDER PROVISIONS

This Rider provides a Guaranteed Minimum Withdrawal Benefit and a Guaranteed Income Benefit.

GUARANTEED MINIMUM WITHDRAWAL BENEFIT. The GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision describes the benefit that the Owner may withdraw, each Benefit Year, an amount up to the Protected Annual Income, for the lifetime of a Measuring Life, if certain conditions are met as described in this Rider. The Protected Annual Income is a percentage of the Protected Income Base.

GUARANTEED INCOME BENEFIT. The GUARANTEED INCOME BENEFIT provision describes a minimum Guaranteed Income Benefit that is payable when the Owner elects to begin receiving Periodic Income Payments under the Variable Annuity Payment Option Rider, which is also attached to the Contract.

To receive the Guaranteed Income Benefit under this Rider, the Owner must discontinue the benefit provided under the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision and elect to begin receiving Periodic Income Payments payable under the Variable Annuity Payment Option Rider.

INTERACTION WITH THE VARIABLE ANNUITY PAYMENT OPTION RIDER

The Owner may not elect to begin receiving variable Periodic Income Payments payable under the Variable Annuity Payment Option Rider attached to the Contract unless:

(a)
this Rider has terminated but the Contract to which it is attached is still in effect; and

(b)
the GUARANTEED INCOME BENEFIT provision of this Rider is concurrently effective.

Once the Owner elects to begin receiving Periodic Income Payments payable under the Variable Annuity Payment Option Rider and the GUARANTEED INCOME BENEFIT of this Rider is concurrently effective, the Owner must terminate both this Rider and the Guaranteed Income Benefit concurrently to terminate the Variable Annuity Payment Option Rider and the Guaranteed Income Benefit.

ADDITIONAL PURCHASE PAYMENT RESTRICTION

Subject to any further limitations stated in the Contract to which this Rider is attached and the Maximum Protected Income Base Limit, cumulative additional Purchase Payments after the first Benefit Year may not equal or exceed the Additional Purchase Payment Restriction Limit without Our prior approval.

No additional Purchase Payments will be approved and added to the Contract:
(a)
after the Variable Annuity Payment Option Rider and the GUARANTEED INCOME BENEFIT provision are concurrently effective; or
(b)
if the Contract Value is $0.

The Maximum Protected Income Base Limit and Additional Purchase Payment Restriction Limit are shown on the Rider Specifications.


DEFINITIONS
All definitions found in the Contract are incorporated by reference and have the same meaning as they do in the Contract, including other riders, endorsements, or amendments.

Access Period is applicable only while the GUARANTEED INCOME BENEFIT provision and Variable Annuity Payment Option Rider are in effect. It is a defined period selected by the Owner during which We make Periodic Income Payments under the Variable Annuity Payment Option Rider. The Owner will continue to have access to the Account Value and a Death Benefit is payable during the Access Period.

Annuitant is the Natural Person used to determine the benefits if the Measuring Life Option is Single. The Annuitant is one of two Natural Persons used to determine the benefits if the Measuring Life Option is Joint. The Contract may only have one Annuitant. The Annuitant may not be changed.

Benefit Year is applicable only while the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision is in effect. It means each 12-month period starting with the Rider Date shown on the Rider Specifications and each Rider Date Anniversary thereafter.

Code is the Internal Revenue Code of 1986, as amended.

Company, Our, Us, and We refers to The Lincoln National Life Insurance Company.

Lifetime Income Period is applicable only while the GUARANTEED INCOME BENEFIT provision and Variable Annuity Payment Option Rider are in effect. It is the period that begins after the Access Period ends as described under the Variable Annuity Payment Option Rider, provided the Annuitant or the Secondary Life, if any, is still living and the Contract has not been surrendered. The Owner will not have access to the Account Value and a Death Benefit is not payable during the Lifetime Income Period.

Measuring Life(Lives) is/are the Natural Person(s) used to determine the benefits under this Rider. Measuring Life includes any Annuitant, Owner, Joint Owner, and Secondary Life, subject to the Measuring Life Option elected.

Measuring Life Option indicates how many Natural Persons are used to determine the benefits under this Rider. Under the Single Measuring Life Option, the Annuitant is used to determine the benefits under this Rider. Under the Joint Measuring Life Option, the Annuitant and the Secondary Life are used to determine the benefits under this Rider. The Measuring Life Option may not be changed after the Rider Date. The Measuring Life Option is shown on the Rider Specifications.

Natural Person is a human being.

Non-Natural Person, for purposes of this Rider, includes a trust, corporation, partnership, or association.

Periodic Income Payment is applicable only while the GUARANTEED INCOME BENEFIT provision and Variable Annuity Payment Option Rider are in effect. Periodic Income Payments are the variable amounts payable under the Variable Annuity Payment Option Rider to an Owner, or an Owner’s designee. At the time the Variable Annuity Payment Option Rider is elected, an Owner must select one of the following Periodic Income Payment Modes: monthly, quarterly, semi-annually, or annually. The Initial Periodic Income Payment Mode selected is shown on the Contract Benefit Data page(s).

Purchase Payments, for the purpose of this Rider, mean the amounts paid into the Contract by the Owner including Bonus Credits, if any, before deduction of any Sales Charges. Bonus Credits and Sales Charges, if any, are shown on the Contract Specifications.

Rider Date Anniversary is applicable only while the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision is in effect. It is the same calendar day as the Rider Date, each subsequent calendar year, if such date is a Valuation Date. If during any calendar year, the calendar day is not a Valuation Date, the Rider Date Anniversary will be the first Valuation Date following such calendar day and any transactions that should have occurred on the Rider Date Anniversary will be processed by Us on that Valuation Date.

A quarterly anniversary of the Rider Date is the same calendar day as the Rider Date of every third month following the previous Rider Date, if such date is a Valuation Date. If the day is not a Valuation Date, any transactions that should have occurred on the quarterly anniversary will be processed by Us on the first Valuation Date following that quarterly anniversary.


Secondary Life means the second Natural Person, if any, used to determine the benefits under this Rider if the Measuring Life Option is Joint. The Secondary Life may not be changed. The Secondary Life may also be considered a joint annuitant, solely for the purposes of being a Measuring Life under this Rider and not for any other purposes in the Contract or any other Rider attached to the Contract.

Systematic Required Minimum Distributions are applicable only while the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision is in effect. They are systematic monthly or quarterly installments withdrawn via Our automatic withdrawal service of the amount needed to satisfy the required minimum distribution as determined by Us in accordance with Code Section 401(a)(9)(A), as amended, for the Contract to which this Rider is attached.

Withdrawal is the gross amount of a Withdrawal before any applicable charges and fees. While the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision is in effect, Withdrawals are Conforming Withdrawals or Excess Withdrawals. While the GUARANTEED INCOME BENEFIT provision and Variable Annuity Payment Option Rider are in effect, Withdrawals are all additional amounts from the Account Value requested by the Owner, other than Periodic Income Payments. Any Withdrawal that otherwise is a Conforming Withdrawal, but that is not made payable to the original Owner or the original Owner’s bank account, or to the original Annuitant or the original Annuitant’s bank account (if the Owner is a Non-Natural Person), will be treated as an Excess Withdrawal. Under the Joint Measuring Life Option, if the Owner is a Non-Natural Person, upon the death of the original Annuitant where the Secondary Life continues the Contract, any Withdrawal that otherwise is a Conforming Withdrawal, but is not made payable to the succeeding Annuitant or the succeeding Annuitant’s bank account, will be treated as an Excess Withdrawal.
Conforming Withdrawals are all Withdrawals to the extent that the cumulative amount withdrawn (including the current Withdrawal) from the Contract in that Benefit Year is equal to or less than the Protected Annual Income. If the Owner receives only Systematic Required Minimum Distributions during a Benefit Year, all Systematic Required Minimum Distributions during that Benefit Year will be treated as Conforming Withdrawals. However, if a Withdrawal other than Systematic Required Minimum Distributions occurs during a Benefit Year, then that Withdrawal and any subsequent Withdrawals, including Systematic Required Minimum Distributions, will be treated as Excess Withdrawals to the extent that the cumulative amount withdrawn in that Benefit Year exceeds the Protected Annual Income.
Excess Withdrawals are all Withdrawals to the extent that the cumulative amount withdrawn (including the current Withdrawal) from the Contract in that Benefit Year exceeds each Conforming Withdrawal. If any Measuring Life is younger than the Protected Annual Income Age shown on the Rider Specifications, all Withdrawals are Excess Withdrawals.

GUARANTEED MINIMUM WITHDRAWAL BENEFIT PROVISION

This GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision:
(a)
describes the conditions that must be met before the Owner may withdraw, each Benefit Year, a percentage of the Protected Income Base, up to the Protected Annual Income, for the lifetimes of all Measuring Lives; and
(b)
is effective from the Rider Date until this Rider terminates or upon the Owner’s election of the Variable Annuity Payment Option Rider and commencement of the GUARANTEED INCOME BENEFIT provision of this Rider.

EFFECT OF DEATH WHEN THE GUARANTEED MINIMUM WITHDRAWAL BENEFIT PROVISION IS IN EFFECT. This Rider will terminate on the death of the Annuitant if the Measuring Life Option is Single. Upon the first death of a Measuring Life if the Measuring Life Option is Joint, the Owner may continue the Contract and this Rider in force under the Joint Measuring Life Option. If so continued, the Protected Annual Income will continue for the life of the surviving Measuring Life. Upon the death of the surviving Measuring Life, this Rider will terminate.

PROTECTED INCOME BASE

The Protected Income Base is the value used to calculate the Protected Annual Income, the Protected Lifetime Income Fee amounts and may determine the initial Guaranteed Income Benefit. The Protected Income Base value is distinct from the Contract Value and is not used to calculate the cash surrender value, Death Benefit, or other guaranteed paid-up annuity benefits under the Contract.

If the Rider Date is the Contract Date, the initial Protected Income Base will be equal to the initial Purchase Payment. If the Rider Date is after the Contract Date, the initial Protected Income Base will be equal to the Contract Value on the Rider Date.


On a Rider Date Anniversary, the Protected Income Base may be adjusted by an Enhancement or an Account Value lock in as described in the PROTECTED INCOME BASE ON EACH RIDER ANNIVERSARY provisions of this Rider. Otherwise, the Protected Income Base may be adjusted by:
(a)
an additional Purchase Payment. The Protected Income Base will be increased by the amount of the additional Purchase Payment on the Valuation Date it is approved and added to the Contract. Additional Purchase Payments may increase the Protected Lifetime Income Fee rate if the cumulative Purchase Payments approved and added to the Contract after the first Benefit Year is equal to or exceeds the Additional Purchase Payment Restriction Limit shown on the Rider Specifications, and
(b)
an Excess Withdrawal. Upon an Excess Withdrawal, the Protected Income Base will be reduced in the same proportion that the Excess Withdrawal reduced the Contract Value. The Protected Income Base will not be reduced by each Conforming Withdrawal.

On the Valuation Date the Protected Income Base is reduced to $0 after an Excess Withdrawal, this Rider and the Contract to which it is attached will terminate.

ENHANCEMENT BASE. The Enhancement Base is the value used to calculate the Enhancement Value. The initial Enhancement Base is equal to the initial Protected Income Base. Neither the Enhancement Base nor the Enhancement Value are used to calculate the cash surrender value, Death Benefit, or other guaranteed paid-up annuity benefits under the Contract.

The Enhancement Base is adjusted by:
(a)
an additional Purchase Payment. The Enhancement Base will be increased by the amount of an additional Purchase Payment that has been approved and added to the Contract for at least one Benefit Year (except that a Purchase Payment approved and added to the Contract within the first 90 days after the Rider Date will increase the Enhancement Base on the Valuation Date it is approved and added to the Contract); and
(b)
an Excess Withdrawal. Upon an Excess Withdrawal, the Enhancement Base will be reduced in the same proportion that the Excess Withdrawal reduced the Contract Value. The Enhancement Base will not be reduced by each Conforming Withdrawal.

MAXIMUM PROTECTED INCOME BASE. The Protected Income Base is subject to the Maximum Protected Income Base Limit shown on the Rider Specifications. The Maximum Protected Income Base Limit is the combined Protected Income Base values, Protected Amount values, Income Base values, Guaranteed Amount and other guaranteed amounts for all Company annuity contracts and annuity riders, including annuity contracts with an affiliated company, where the Owner is the same or for which the Annuitant or Secondary Life, if applicable, is a Measuring Life or Owner.

If the Maximum Protected Income Base Limit is exceeded, the Protected Income Base values, Protected Amount values, Income Base values Guaranteed Amount and other guaranteed amounts for each applicable annuity contract and annuity rider will be reduced proportionately until the combined amount values do not exceed the Maximum Protected Income Base Limit.

The Protected Amount, Income Base and Guaranteed Amount are the values used to calculate the amounts available for the Protected Annual Income, Guaranteed Annual Income or Maximum Annual Withdrawal and determine the rider charges or Protected Lifetime Income Fees under a Company annuity contract or an annuity rider, including annuity contracts with an affiliated company. The Protected Income Base under this Rider means the Protected Amount, Income Base or Guaranteed Amount for the purposes of calculating the Protected Amount maximum, Income Base maximum or Guaranteed Amount maximum for such Company annuity contract or an annuity rider, including annuity contracts with an affiliated company.

PROTECTED INCOME BASE ON EACH RIDER ANNIVERSARY

On the Rider Date Anniversary, the Protected Income Base will be the greater of (A), (B) or (C), where:

A
is the Protected Income Base on the Rider Date Anniversary immediately prior to any Rider Date Anniversary adjustment.

B
is the Enhancement Value as described in the ENHANCEMENT provision of this Rider.

C
is the Contract Value as determined by an Account Value lock in described in the ACCOUNT VALUE LOCK IN provision of this Rider.


ENHANCEMENT. An Enhancement will increase the Protected Income Base to equal the Enhancement Value, if all the conditions in this provision are satisfied. On the Rider Date Anniversary, any Protected Lifetime Income Fee due is deducted and an Account Value lock in is calculated after the Enhancement Value is calculated.

The initial Enhancement Value on the first Rider Date Anniversary is the sum of (A) and ((A) multiplied by (B)), where:
A    is the Enhancement Base.
B    is the Enhancement Rate shown on the Rider Specifications.

On each subsequent Rider Date Anniversary thereafter, the Enhancement Value established on the previous Rider Date Anniversary is increased by an amount equal to the Enhancement Base multiplied by the Enhancement Rate shown on the Rider Specifications.

The Enhancement Value is increased by the amount of an additional Purchase Payment on the Valuation Date it is approved and added to the Contract and is reduced by all Excess Withdrawals made during the preceding Benefit Year in the same proportion that the Excess Withdrawals reduced the Contract Value.

We will calculate the Enhancement Value on each Rider Date Anniversary if the preceding Benefit Year is during the Enhancement Period shown on the Rider Specifications, except if a Withdrawal occurred in that Benefit Year. However, the Enhancement will occur on a Rider Date Anniversary only if all the following conditions are satisfied:
(a)
the preceding Benefit Year is during the Enhancement Period shown on the Rider Specifications; and
(b)
no Withdrawal occurred in the preceding Benefit Year; and
(c)
all Measuring Lives are under the Enhancement Maximum Age shown on the Rider Specifications; and
(d)
the Enhancement Value is greater than an Account Value lock in that may have occurred and been accepted on the same Rider Date Anniversary; and
(e)
the Enhancement Value is greater than the Protected Income Base immediately prior to a Rider Date Anniversary adjustment.

The Protected Lifetime Income Fee rate does not increase after an Enhancement.

ACCOUNT VALUE LOCK IN. An Account Value lock in will increase the Protected Income Base to equal the Contract Value. The Account Value lock in will not increase the Enhancement Base or the Enhancement Value.

On a Rider Date Anniversary, We will compare the Contract Value to the Protected Income Base and an Account Value lock in will occur if all the following conditions are satisfied:
(a)
the Contract Value is greater than the Protected Income Base immediately prior to a Rider Date Anniversary adjustment; and
(b)
all Measuring Lives are under the Account Value lock in Maximum Age shown on the Rider Specifications; and
(c)
the Account Value lock in is greater than the Enhancement Value on the same Rider Date Anniversary.

The Account Value lock in may increase the Protected Lifetime Income Fee rate to the Protected Lifetime Income Fee rate currently in effect if such rate is higher than the current Protected Lifetime Income Fee rate. The new Protected Lifetime Income Fee rate will never exceed the Guaranteed Maximum Annual Protected Lifetime Income Fee Rate shown on the Rider Specifications.

If the Protected Lifetime Income Fee rate increases, the Owner may decline the Account Value lock in by Notice to Us within 30 days of the effective date of the increase. If the Owner does not decline the Account Value lock in within 30 days of the effective date of the increase, the increase to the Protected Income Base will be deemed accepted by the Owner.

If the Owner declines the Account Value lock in, the Protected Income Base will be the Protected Income Base immediately prior to when the Account Value lock in was determined.

The Owner will be eligible for future Account Value lock ins after declining an Account Value lock in.


PROTECTED ANNUAL INCOME

The Protected Annual Income is the amount that may be withdrawn from the Contract by the Owner, each Benefit Year, as a Conforming Withdrawal once all Measuring Lives are greater or equal to the Protected Annual Income Age shown on the Rider Specifications. If the Measuring Life Option is Joint, the Protected Annual Income available is based on the attained age of the younger or surviving Measuring Life. The Protected Annual Income may be withdrawn during the lifetimes of all Measuring Lives until the Protected Annual Income or Protected Income Base are reduced to $0. The Protected Annual Income may also be continued for the lifetimes of all Measuring Lives if the conditions described in the PROTECTED ANNUAL INCOME ANNUITY PAYMENT OPTION or CONTRACT VALUE REDUCES TO $0 provisions are satisfied.

Any part of the Protected Annual Income not taken during a given Benefit Year cannot be taken in a subsequent Benefit Year without causing an Excess Withdrawal.

The Protected Annual Income is calculated by multiplying the Protected Income Base by a Protected Annual Income Rate from the applicable Protected Annual Income Rate Table, which varies by age and the Measuring Life Option. The Protected Annual Income Rate Tables are shown on the Rider Specifications.

When the Protected Income Base is adjusted by an Account Value lock in, an Enhancement, an additional Purchase Payment approved and added to the Contract or an Excess Withdrawal, the Protected Annual Income will be recalculated to equal the applicable Protected Annual Income Rate multiplied by the new Protected Income Base. On each Rider Date Anniversary when either an Account Value lock in is accepted or if an Enhancement occurs, the Protected Annual Income is recalculated before any other transactions are processed. The Protected Annual Income is increased by an additional Purchase Payment on the Valuation Date the Purchase Payment is approved and added to the Contract and reduced by an Excess Withdrawal on the Valuation Date the Withdrawal is taken.

The initial Protected Annual Income is calculated by the Protected Annual Income Rate that corresponds to the attained age of the Measuring Life on the Valuation Date of the first Conforming Withdrawal. If the Measuring Life Option is Joint, the Protected Annual Income Rate used to calculate the initial Protected Annual Income will be the rate that corresponds to the attained age of the younger or surviving Measuring Life on the Valuation Date of the first Conforming Withdrawal.

After the initial Protected Annual Income is calculated, the Protected Annual Income Rate will not change, except if an Account Value lock in occurs and is accepted, the Protected Annual Income Rate used to recalculate the new Protected Annual Income will be the rate that corresponds to the attained age of the applicable Measuring Life on the Valuation Date of the Account Value lock in.

MAXIMUM PROTECTED ANNUAL INCOME. The combined Protected Annual Income (including any guaranteed amounts, Guaranteed Annual Income amount, Protected Annual Income amount and Maximum Annual Withdrawal amount) for all Company annuity contracts, including annuity contracts with an affiliated company, for which the Annuitant or Secondary Life, if applicable, is a Measuring Life or Owner, is subject to the Protected Annual Income Rate used when the Protected Annual Income was last determined multiplied by the Maximum Protected Income Base.

The Guaranteed Annual Income, Protected Annual Income or Maximum Annual Withdrawal amount are the amounts that may be withdrawn from a Company annuity contract or an annuity rider by the Owner each Benefit Year. The Protected Annual Income under this Rider means the Guaranteed Annual Income amount, Protected Annual Income amount for the purposes of calculating the Guaranteed Annual Income maximum or Protected Annual Income maximum, including any Maximum Annual Withdrawal amount, for such Company annuity contract or an annuity rider, including annuity contracts with an affiliated company.
CONTRACT VALUE REDUCES TO $0

On the Valuation Date the Contract Value reduces to $0, if:

(a)
the Protected Income Base is not $0; and

(b)
the Contract has not been surrendered or assigned for value;

the Protected Annual Income will continue for the lifetimes of all Measuring Lives and a quarterly Protected Lifetime Income Fee will no longer apply.

The Owner may elect to receive the Protected Annual Income at any frequency We offer, subject to Our minimum payment amount rules then in effect, but no less frequently than annually.

If the Contract Value is $0, no Death Benefit will be paid.


PROTECTED ANNUAL INCOME ANNUITY PAYMENT OPTION

The Protected Annual Income Annuity Payment Option may be irrevocably elected by the Owner upon Notice to Us, provided the Contract has not been surrendered or assigned for value. If elected, the Owner will receive payment equal to the Protected Annual Income each Benefit Year for the lifetimes of all Measuring Lives and a quarterly Protected Lifetime Income Fee will no longer apply. The Owner may elect to receive the Protected Annual Income at any frequency We offer, subject to Our minimum payment amount rules then in effect, but no less frequently than annually.

If this Protected Annual Income Annuity Payment Option is in effect no Death Benefit will be paid.

GUARANTEED INCOME BENEFIT

This GUARANTEED INCOME BENEFIT provision:
(a)
is effective upon the concurrent Variable Annuity Payment Option Rider Date and irrevocable termination of the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision of this Rider. The Variable Annuity Payment Option Rider Date is shown on the Contract Benefit Data Page(s) issued when the Owner elects the benefits under the Variable Annuity Payment Option Rider.
(b)
provides that the minimum amount payable for each variable Periodic Income Payment made under the Variable Annuity Payment Option Rider is guaranteed not to fall below the Guaranteed Income Benefit.

The Guaranteed Income Benefit and the Periodic Income Payments under the Variable Annuity Payment Option Rider are calculated on the Periodic Income Commencement Date shown on the Contract Benefit Data page(s) issued upon the Owner’s election of benefits under the Variable Annuity Payment Option Rider. The amount payable for each variable Periodic Income Payment under the Variable Annuity Payment Option Rider, will be the greater of the Periodic Income Payment determined under the Variable Annuity Payment Option Rider or the Guaranteed Income Benefit determined under this Rider. The initial Guaranteed Income Benefit is shown on the Contract Benefit Data Page(s).

For Non-qualified contracts, an Owner must elect to adjust the Periodic Income Payments payable under the Variable Annuity Payment Option Rider on an annual basis (‘LevelPay’).

ELIGIBILITY LIMITATIONS. The commencement of Periodic Income Payments under the Variable Annuity Payment Option Rider is available subject to the following maximum and minimum Variable Annuity Payment Option Rider age requirement, minimum Access Period limits and the required Assumed Investment Rate:
(a)
For Non-qualified contracts, if the Measuring Life Option is Joint, the younger or surviving Measuring Life’s age shall be subject to the maximum and minimum Variable Annuity Payment Option Rider age requirement. For Qualified contracts, if the Measuring Life Option is Joint, the current Owner’s age shall be subject to the maximum and minimum Variable Annuity Payment Option Rider age requirement; and
(b)
The minimum Access Period as shown on the Rider Specifications; and
(c)
The Assumed Investment Rate used to calculate the Periodic Income Payments under the Variable Annuity Payment Option Rider. The rate may be referred to as Assumed Investment Return or Assumed Interest Rate.

DETERMINING THE INITIAL GUARANTEED INCOME BENEFIT. The initial Guaranteed Income Benefit will be (A) multiplied by the greater of (B) or (C), where:

A
is the Initial Guaranteed Income Benefit Percentage as shown on the Initial Guaranteed Income Benefit Percentage Table. The Initial Guaranteed Income Benefit Percentage is the percentage that corresponds to the attained age of the Measuring Life on the Valuation Date of the first Periodic Income Payment under the Variable Annuity Payment Option Rider. If the Measuring Life Option is Joint, the Initial Guaranteed Income Benefit Percentage is the percentage that corresponds to the attained age of the younger or surviving Measuring Life on the Valuation Date of the first Periodic Income Payment under the Variable Annuity Payment Option Rider; and

B
is the Protected Income Base minus all Conforming Withdrawals after the most recently accepted Account Value lock in of the Protected Income Base under the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision. If no Account Value lock in has been accepted, (B) is the Protected Income Base minus all Conforming Withdrawals; and

C
is the Contract Value on the Valuation Date of the first Periodic Income Payment under the Variable Annuity Payment Option Rider.


GUARANTEED INCOME BENEFIT STEP-UP DATE. A Guaranteed Income Benefit Step-Up Date is the date on which a Guaranteed Income Benefit Step-Up may occur as described in the AUTOMATIC STEP-UP OF THE GUARANTEED INCOME BENEFIT provision of this Rider.

For Non-qualified contracts, a Guaranteed Income Benefit Step-Up Date is the first Valuation Date on or after the Periodic Income Commencement Date anniversary of each one-year period measured from the Periodic Income Commencement Date.

For Qualified contracts, the first Guaranteed Income Benefit Step-Up Date is the Valuation Date of the first Periodic Income Payment in the first calendar year following the Periodic Income Commencement Date. Subsequent Guaranteed Income Benefit Step-Up Dates will be the Valuation Date of the first Periodic Income Payment in the calendar year, every subsequent one-year period.

AUTOMATIC STEP-UP OF THE GUARANTEED INCOME BENEFIT (GUARANTEED INCOME BENEFIT STEP-UP). A Guaranteed Income Benefit Step-Up will occur on the Guaranteed Income Benefit Step-Up Date if (A) is greater than (B), where:

A
is the Periodic Income Payment determined under the Variable Annuity Payment Option Rider on the Guaranteed Income Benefit Step-Up Date multiplied by the Guaranteed Income Benefit Step-up Percentage shown on the Rider Specifications; and

B
is the Guaranteed Income Benefit on the Valuation Date immediately prior to the Guaranteed Income Benefit Step-Up Date.

On each Guaranteed Income Benefit Step-Up, the Protected Lifetime Income Fee rate may be adjusted pursuant to the PROTECTED LIFETIME INCOME FEE DURING THE GUARANTEED INCOME BENEFIT provision of this Rider. If the Protected Lifetime Income Fee rate is increased, the Owner may decline the Guaranteed Income Benefit Step-Up by Notice to Us within 30 days of the effective date of the Guaranteed Income Benefit Step-Up.

If the Owner does decline the Guaranteed Income Benefit Step-Up, upon Our receipt of Notice from the Owner:
(a)
the Guaranteed Income Benefit will be the Guaranteed Income Benefit on the Valuation Date immediately prior to the Guaranteed Income Benefit Step-Up Date, subject to adjustments for Withdrawals; and
(b)
the Protected Lifetime Income Fee rate will decrease to the Protected Lifetime Income Fee rate in effect on the Valuation Date immediately prior to the Guaranteed Income Benefit Step-Up Date; and
(c)
the Protected Lifetime Income Fee will decrease to the Protected Lifetime Income Fee in effect on the Valuation Date immediately prior to the Guaranteed Income Benefit Step-Up Date, subject to adjustments for Withdrawals.

If the Owner does not decline the Guaranteed Income Benefit Step-Up within 30 days of the effective date of the Guaranteed Income Benefit Step-Up, the Guaranteed Income Benefit Step-Up will be deemed accepted by the Owner.

Future Automatic Step-Ups of the Guaranteed Income Benefit will occur if the Owner has previously declined a Guaranteed Income Benefit Step-Up.

ADJUSTMENTS TO THE GUARANTEED INCOME BENEFIT. Each Withdrawal will reduce the Guaranteed Income Benefit in the same proportion as the amount taken reduces the Account Value on the Valuation Date of the Withdrawal. Payment of a Periodic Income Payment, whether equal to the Guaranteed Income Benefit or the Periodic Income Payment determined under the Variable Annuity Payment Option Rider, is not a Withdrawal and does not reduce the Guaranteed Income Benefit.

An increase in the length of the Access Period established under the Variable Annuity Payment Option Rider will not result in an adjustment to the Guaranteed Income Benefit. Any increase in the length of the Access Period is subject to a five-year minimum increase.

EFFECT OF THE PROTECTED LIFETIME INCOME FEE AND GUARANTEED INCOME BENEFIT DURING THE ACCESS PERIOD. During the Access Period established under the Variable Annuity Payment Option Rider, Protected Lifetime Income Fees and payment of the Periodic Income Payment whether equal to the Guaranteed Income Benefit or the Periodic Income Payment determined under the Variable Annuity Payment Option Rider, reduce the Account Value.



If the Account Value is reduced to $0, the Access Period will end and the Lifetime Income Period under the Variable Annuity Payment Option Rider will begin on the Valuation Date the Account Value equals $0. Each subsequent Periodic Income Payment during the Lifetime Income Period will be equal to the Guaranteed Income Benefit, each subsequent Protected Lifetime Income Fee will be $0, and the EFFECT OF GUARANTEED INCOME BENEFIT DURING THE LIFETIME INCOME PERIOD and the EFFECT OF THE PROTECTED LIFETIME INCOME FEE DURING THE LIFETIME INCOME PERIOD provisions of this Rider shall not apply.

EFFECT OF GUARANTEED INCOME BENEFIT DURING THE LIFETIME INCOME PERIOD. During the Lifetime Income Period established under the Variable Annuity Payment Option Rider, provided the Contract has not been assigned for value, if a Periodic Income Payment determined under the Variable Annuity Payment Option Rider is less than the Guaranteed Income Benefit, the excess of the Guaranteed Income Benefit attributable to the Variable Account over the Periodic Income Payment attributable to the Variable Account determined under the Variable Annuity Payment Option Rider will reduce the number of Annuity Units per Variable Subaccount payable in each subsequent Periodic Income Payment.

The reduction to the number of Annuity Units per payment will be determined by: (A) divided by (B) then the result further divided by (C), where:

A
is the amount of the excess of the Guaranteed Income Benefit attributable to the Variable Account over the Periodic Income Payment determined under the Variable Annuity Payment Option Rider attributable to the Variable Account; and

B
is the applicable Annuity Factor; and

C
is the Annuity Unit value as of the Valuation Date of the Periodic Income Payment.

During the Lifetime Income Period, if a Periodic Income Payment determined under the Variable Annuity Payment Option Rider is less than the Guaranteed Income Benefit, the excess of the Guaranteed Income Benefit attributable to the Fixed Account over the Periodic Income Payment attributable to the Fixed Account determined under the Variable Annuity Payment Option Rider will reduce the resulting annual amount determined for the Fixed Account payable in each subsequent Periodic Income Payment.

The reduction in the resulting annual amount determined for the Fixed Account (prior to multiplying by the Interest Adjustment Factor and dividing by the Daily Factor) will be determined by: (A) divided by (B), where:

A
is the amount of the excess of the Guaranteed Income Benefit attributable to the Fixed Account over the Periodic Income Payment attributable to the Fixed Account; and

B
is the applicable Annuity Factor.

If payment of the Guaranteed Income Benefit reduces the number of Annuity Units per Variable Subaccount to zero and the resulting annual amount determined for the Fixed Account to zero during the Lifetime Income Period, then each subsequent Periodic Income Payment during the remainder of the Lifetime Income Period will equal the Guaranteed Income Benefit. In addition, each subsequent Protected Lifetime Income Fee will be $0.

EFFECT OF THE PROTECTED LIFETIME INCOME FEE DURING THE LIFETIME INCOME PERIOD. The Protected Lifetime Income Fee attributable to each Variable Subaccount will reduce the number of Annuity Units per Variable Subaccount used to calculate the Periodic Income Payments during the Lifetime Income Period. The Protected Lifetime Income Fee attributable to the Fixed Account will reduce the Periodic Income Payments during the Lifetime Income Period.

If the Protected Lifetime Income Fee reduces both the number of Annuity Units per Variable Subaccount to zero and the resulting annual amount determined for the Fixed Account to zero during the Lifetime Income Period, then each subsequent Periodic Income Payment during the remainder of the Lifetime Income Period will equal the Guaranteed Income Benefit. In addition, each subsequent Protected Lifetime Income Fee will be $0.

QUALIFIED CONTRACTS – VARIABLE ACCOUNT. At the end of the Access Period and on the Valuation Date of the first Periodic Income Payment of each subsequent calendar year, the Annuity Units per Variable Subaccount will be reduced to reflect the Protected Lifetime Income Fee deduction from the Variable Subaccount.

The Annuity Units reduction reflecting the Protected Lifetime Income Fee for the period from the end of the Access Period to the end of that calendar year will be determined by (A) divided by (B) then the result divided by (C) where:

A
is the pro-rated annual Protected Lifetime Income Fee for the period from the end of the Access Period to the end of that calendar year; and

B
is the applicable Annuity Factor; and

C
is the Annuity Unit value as of the Valuation Date of the end of the Access Period


On the Valuation Date of the first Periodic Income Payment of each subsequent calendar year, the Annuity Units per Variable Subaccount reduction reflecting the Protected Lifetime Income Fee will be determined by (A) divided by (B) then the result further divided by (C) where:

A
is the annual Protected Lifetime Income Fee; and

B
is the applicable Annuity Factor; and

C
is the Annuity Unit value for each Variable Subaccount as of the Valuation Date of the first Periodic Income Payment of that calendar year.

NONQUALIFIED CONTRACTS – VARIABLE ACCOUNT. At the end of the Access Period and each Periodic Income Commencement Date anniversary, the Annuity Units per Variable Subaccount will be reduced to reflect the Protected Lifetime Income Fee deduction from the Variable Subaccount. This reduction will be determined by (A) divided by (B) then the result further divided by (C) where:

A
is the annual Protected Lifetime Income Fee; and

B
is the applicable Annuity Factor; and

C
is the Annuity Unit value as of the Valuation Date of the first Periodic Income Payment and each subsequent anniversary.

QUALIFIED CONTRACTS – FIXED ACCOUNT. At the end of the Access Period and on the Valuation Date of the first Periodic Income Payment of each subsequent calendar year, the resulting annual amount determined for the Fixed Account, prior to being converted into the Periodic Income Payments, will be reduced to reflect the Protected Lifetime Income Fee deduction from the Fixed Account.

At the end of the Access Period, the reduction in the resulting annual amount determined for the Fixed Account (prior to multiplying by the Interest Adjustment Factor and dividing by the Daily Factor) reflecting the Protected Lifetime Income Fee for the period from the end of the Access Period for the remainder of that calendar year will be determined by (A) divided by (B), where:

A
is the pro-rated annual Protected Lifetime Income Fee for the period from the end of the Access Period for the remainder of that calendar year; and

B
is the applicable Annuity Factor.

On the Valuation Date of the first Periodic Income Payment of each subsequent calendar year, the reduction in the resulting annual amount determined for the Fixed Account (prior to being converted into the Periodic Income Payments) reflecting the Protected Lifetime Income Fee will be determined by (A) divided by (B), where:

A
is the annual Protected Lifetime Income Fee; and

B
is the applicable Annuity Factor.

NONQUALIFIED CONTRACTS – FIXED ACCOUNT. At the end of the Access Period and each Periodic Income Commencement Date anniversary, the resulting annual amount determined for the Fixed Account (prior to being converted into the Periodic Income Payments) will be reduced to reflect the Protected Lifetime Income Fee deduction from the Fixed Account. This reduction will be determined by (A) divided by (B), where:

A
is the annual Protected Lifetime Income Fee; and

B
is the applicable Annuity Factor.

PROTECTED LIFETIME INCOME FEE

The Initial Annual Protected Lifetime Income Fee Rate shown on the Rider Specifications is divided by four to calculate the initial quarterly Protected Lifetime Income Fee rate. The Protected Lifetime Income Fee rate may change, but the annual Protected Lifetime Income Fee rate will never exceed the Guaranteed Maximum Annual Protected Lifetime Income Fee Rate shown on the Rider Specifications.

At any time 10 years after the Rider Date, while either the GUARANTEED MINIMUM WITHDRAWAL BENEFIT or the GUARANTEED INCOME BENEFIT provision is in effect, We reserve the right to review and adjust the current Protected Lifetime Income Fee rate. The review will occur no more frequently than once annually and any decision to adjust the Protected Lifetime Income Fee rate will be at Our discretion, subject to the Guaranteed Maximum Protected Lifetime Income Fee Rate shown on the Rider Specifications.



If the adjustment results in an increase to the Protected Lifetime Income Fee rate, the Owner may decline the increase by Notice to Us within 30 days of the effective date of the increase. If the Owner does not decline the increase within 30 days of the effective date of the increase, it will be deemed accepted by the Owner. The Owner will not be eligible for future Account Value lock ins, Enhancements or Guaranteed Income Benefit Step-Ups after declining such increase.

PROTECTED LIFETIME INCOME FEE DURING THE GUARANTEED MINIMUM WITHDRAWAL BENEFIT

DETERMINING THE QUARTERLY PROTECTED LIFETIME INCOME FEE. While the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision of this Rider is in effect, a quarterly Protected Lifetime Income Fee is deducted from the Contract Value on each quarterly anniversary of the Rider Date. If the day is not a Valuation Date, and a Protected Lifetime Income Fee is due, that fee will be deducted on the first Valuation Date following such calendar day. The amount of the quarterly Protected Lifetime Income Fee is the quarterly Protected Lifetime Income Fee rate multiplied by the Protected Income Base, prior to any Rider Date Anniversary adjustment, on the Valuation Date the fee is deducted.

Quarterly Protected Lifetime Income Fees will be deducted from each Variable Subaccount and Fixed Account, if any, on a proportional basis. A pro-rata quarterly Protected Lifetime Income Fee will be recalculated and deducted upon termination of the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision, except if this Rider is terminated due to death.

When the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision terminates upon the election of the GUARANTEED INCOME BENEFIT provision, this pro-rata Protected Lifetime Income Fee will be deducted on the Periodic Income Commencement Date.

ADJUSTMENTS TO THE PROTECTED LIFETIME INCOME FEE RATE ON A RIDER DATE ANNIVERSARY. While the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision of this Rider is in effect, the Protected Lifetime Income Fee rate may change on a Rider Date Anniversary due to:
(a)
an additional Purchase Payment approved and added to the Contract in the Benefit Year preceding the applicable Rider Date Anniversary, if the cumulative Purchase Payments approved and added to the Contract after the first Benefit Year equals or exceeds the Additional Purchase Payment Restriction Limit shown on the Rider Specifications; or
(b)
an Account Value lock in pursuant to the ACCOUNT VALUE LOCK IN provision of this Rider; or
(c)
Our annual review of the current Protected Lifetime Income Fee rate at any time 10 years after the Rider Date.

PROTECTED LIFETIME INCOME FEE DURING THE GUARANTEED INCOME BENEFIT

During the Access Period, the quarterly Protected Lifetime Income Fee is deducted from the Account Value on each quarterly anniversary following the Periodic Income Commencement Date. The amount of the first quarterly Protected Lifetime Income Fee under the GUARANTEED INCOME BENEFIT provision of this Rider is (A) multiplied by the greater of (B) and (C), where:

A
is the quarterly Protected Lifetime Income Fee rate upon the termination of the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision; and

B
is the Protected Income Base upon the termination of the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision; and

C
is the Contract Value upon the termination of the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision.

The quarterly Protected Lifetime Income Fee is deducted from each Variable Subaccount and Fixed Account, if any, on a proportional basis. A pro-rata quarterly Protected Lifetime Income Fee will be deducted upon termination of the Variable Annuity Payment Option Rider and the GUARANTEED INCOME BENEFIT provision, except if this Rider is terminated due to death.

Upon each Withdrawal, the quarterly Protected Lifetime Income Fee will be reduced in the same proportion that the Withdrawal reduced the Account Value.

ADJUSTMENTS TO THE PROTECTED LIFETIME INCOME FEE RATE DURING THE GUARANTEED INCOME BENEFIT. While the GUARANTEED INCOME BENEFIT provision of this Rider is in effect, the Protected Lifetime Income Fee rate may change due to:
(a)
Our annual review of the current Protected Lifetime Income Fee rate at any time 10 years after the Rider Date; or
(b)
a Guaranteed Income Benefit Step-Up. On each Guaranteed Income Benefit Step-Up, the Protected Lifetime Income Fee rate will be changed to the Protected Lifetime Income Fee rate currently in effect, subject to the Guaranteed Maximum Annual Protected Lifetime Income Fee Rate shown on the Rider Specifications. Any Protected Lifetime Income Fee rate adjustment will change the quarterly Protected Lifetime Income Fee and will be effective on the applicable Guaranteed Income Benefit Step-Up Date.

An adjustment to the Protected Lifetime Income Fee upon a Guaranteed Income Benefit Step-Up is determined by (A) multiplied by (B) multiplied by (C), where:

A
is the prior Protected Lifetime Income Fee; and

B
is the new Guaranteed Income Benefit divided by the prior Guaranteed Income Benefit; and

C
is the new Protected Lifetime Income Fee rate divided by the prior Protected Lifetime Income Fee rate.

During the Lifetime Income Period, the Protected Lifetime Income Fee shall be deducted annually as described in the EFFECT OF PROTECTED LIFETIME INCOME FEE DURING LIFETIME INCOME PERIOD provision of this Rider. The Protected Lifetime Income Fee will be attributed pro-rata to the Fixed Account, if any, and each Variable Subaccount used to calculate the Periodic Income Payments.

GENERAL

GUARANTEE OF PRINCIPAL DEATH BENEFIT AMOUNT. A Guarantee of Principal Death Benefit is provided under the Guarantee of Principal, the Enhanced Guaranteed Minimum Death Benefit, and the Estate Enhancement Benefit, one of which may be applicable to the Contract as shown in the Contract Specifications.
This Guarantee of Principal Death Benefit Amount provision does not apply if the Contract provides that all death benefits are reduced by the amount of all Withdrawals. If the Contract includes a Death Benefit, including any Death Benefit Rider, that has a Death Benefit Amount defined as the sum of all Purchase Payments minus all death benefit reductions, and that such death benefit reductions of Purchase Payments “will be in proportion to the amount withdrawn” such Death Benefit Amount definition is hereby replaced with the following:
The sum of all Purchase Payments, minus all Death Benefit Reductions and any Bonus Credits. Death Benefit Reductions are made whenever a Withdrawal occurs.

For Withdrawals prior to the Rider Date of the Variable Annuity Living Benefits Rider and after the termination of the Variable Annuity Living Benefits Rider, Death Benefit Reductions are calculated proportionately. The percentage reduction of the Contract Value (Account Value if the GUARANTEED INCOME BENEFIT provision and the Variable Annuity Payment Option Rider are in effect) due to the Withdrawal will be applied to the Purchase Payments as the Death Benefit Reduction.

For Withdrawals while the Variable Annuity Living Benefits Rider is in force:

(a)
upon Excess Withdrawals while the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision is in effect, Death Benefit Reductions are calculated proportionately; the percentage reduction of the Contract Value due to the Withdrawal will be applied to the Purchase Payments as the Death Benefit Reduction; and

(b)
upon Conforming Withdrawals while the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision is in effect, the reduction of the Contract Value due to the Withdrawal will be applied to the Purchase Payments as the Death Benefit Reduction; and

(c)
for Withdrawals while the GUARANTEED INCOME BENEFIT provision is in effect, Death Benefit Reductions are calculated proportionately; the percentage reduction of the Account Value due to the Withdrawal will be applied to the Purchase Payments as the Death Benefit Reduction.

MORTALITY AND EXPENSE RISK AND ADMINISTRATIVE CHARGE. While the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision or the GUARANTEED INCOME BENEFIT provision and the Access Period of the Variable Annuity Payment Option Rider are in effect, the Mortality and Expense Risk and Administrative Charge rates for the Contract are shown under Mortality And Expense Risk And Administrative Charge Prior To The Annuity Commencement Date on the Contract Specifications.

While the Lifetime Income Period of the GUARANTEED INCOME BENEFIT provision and the Variable Annuity Payment Option Rider are in effect, the Mortality and Expense Risk and Administrative Charge rates for the Contract shall be less than or equal to those that were applicable while the Access Period was in effect.



TERMINATION OF THIS RIDER. The Owner may terminate this Rider upon Notice to Us any time after the Rider Termination Period shown on the Rider Specifications. Otherwise, this Rider will terminate upon the earliest of the following event to occur:
(a)
the date the Contract to which this Rider is attached terminates; or
(b)
the date the Owner is changed due to death or pursuant to an enforceable divorce agreement or decree, except when Ownership is transferred to the surviving Secondary Life upon death of the Annuitant/Owner; or
(c)
the Annuity Commencement Date of the Contract to which this Rider is attached, except under (i) the GUARANTEED INCOME BENEFIT provision and the Variable Annuity Payment Option Rider or (ii) the Protected Annual Income Annuity Payment Option; or
(d)
the death of the Annuitant if the Measuring Life Option is Single, or on the death of the last surviving Measuring Life if the Measuring Life Option is Joint; or
(e)
the date the Owner sells or assigns for value the Contract other than to the Annuitant, or discounts or pledges it as collateral for a loan or as a security for the performance of an obligation or any other purpose; or
(f)
while the GUARANTEED MINIMUM WITHDRAWAL BENEFIT provision is in effect, on the date both the Protected Income Base and Protected Annual Income equal $0 as the result of an Excess Withdrawal.

The Variable Annuity Payment Option Rider will also terminate on the date this Rider terminates.

Upon termination of this Rider, the benefits and fees within this Rider will terminate. A pro-rata Protected Lifetime Income Fee will be deducted upon termination, except if this Rider is terminated due to death.





Exhibit d(40)
The Lincoln National Life Insurance Company

VARIABLE ANNUITY LIVING BENEFITS RIDER

This optional Rider is made a part of the entire Contract to which it is attached. Except as stated in this Rider, it is subject to all provisions contained in the Contract. In case of any conflict between the provisions of the Contract and this Rider, the provisions of this Rider will control. Coverage under this Rider begins on the Rider Date shown on the Rider Specifications.

SUMMARY OF RIDER PROVISIONS

This Rider provides a benefit that the Owner may withdraw, each Benefit Year, an amount up to the Protected Annual Income, for the lifetime of a Measuring Life, if certain conditions are met as described in this Rider. The Protected Annual Income is a percentage of the Protected Income Base.

ADDITIONAL PURCHASE PAYMENT RESTRICTION

Subject to any further limitations stated in the Contract to which this Rider is attached and the Maximum Protected Income Base Limit, cumulative additional Purchase Payments after the first Benefit Year may not equal or exceed the Additional Purchase Payment Restriction Limit without Our prior approval. If the Contract Value is $0, no additional Purchase Payments will be approved and added to the Contract.

The Maximum Protected Income Base Limit and Additional Purchase Payment Restriction Limit are shown on the Rider Specifications.

DEFINITIONS
All definitions found in the Contract are incorporated by reference and have the same meaning as they do in the Contract, including other riders, endorsements, or amendments.

Annuitant is the Natural Person used to determine the benefits if the Measuring Life Option is Single. The Annuitant is one of two Natural Persons used to determine the benefits if the Measuring Life Option is Joint. The Contract may only have one Annuitant. The Annuitant may not be changed.

Benefit Year is each 12-month period starting with the Rider Date shown on the Rider Specifications and each Rider Date Anniversary thereafter.

Code is the Internal Revenue Code of 1986, as amended.

Company, Our, Us, and We refers to The Lincoln National Life Insurance Company.

Measuring Life(Lives) is/are the Natural Person(s) used to determine the benefits under this Rider. Measuring Life includes any Annuitant, Owner, Joint Owner, and Secondary Life, subject to the Measuring Life Option elected.

Measuring Life Option indicates how many Natural Persons are used to determine the benefits under this Rider. Under the Single Measuring Life Option, the Annuitant is used to determine the benefits under this Rider. Under the Joint Measuring Life Option, the Annuitant and the Secondary Life are used to determine the benefits under this Rider. The Measuring Life Option may not be changed after the Rider Date. The Measuring Life Option is shown on the Rider Specifications.

Natural Person is a human being.

Non-Natural Person, for purposes of this Rider, includes a trust, corporation, partnership, or association.

Purchase Payments, for the purpose of this Rider, mean the amounts paid into the Contract by the Owner including Bonus Credits, if any, before deduction of any Sales Charges. Bonus Credits and Sales Charges, if any, are shown on the Contract Specifications.



Rider Date Anniversary is the same calendar day as the Rider Date, each subsequent calendar year, if such date is a Valuation Date. If during any calendar year, the calendar day is not a Valuation Date, the Rider Date Anniversary will be the first Valuation Date following such calendar day and any transactions that should have occurred on the Rider Date Anniversary will be processed by Us on that Valuation Date.

A quarterly anniversary of the Rider Date is the same calendar day as the Rider Date of every third month following the previous Rider Date, if such date is a Valuation Date. If the day is not a Valuation Date, any transactions that should have occurred on the quarterly anniversary will be processed by Us on the first Valuation Date following that quarterly anniversary.

Secondary Life means the second Natural Person, if any, used to determine the benefits under this Rider if the Measuring Life Option is Joint. The Secondary Life may not be changed. The Secondary Life may also be considered a joint annuitant, solely for the purposes of being a Measuring Life under this Rider and not for any other purposes in the Contract or any other Rider attached to the Contract.

Systematic Required Minimum Distributions are systematic monthly or quarterly installments withdrawn via Our automatic withdrawal service of the amount needed to satisfy the required minimum distribution as determined by Us in accordance with Code Section 401(a)(9)(A), as amended, for the Contract to which this Rider is attached.

Withdrawal is the gross amount of a Withdrawal before any applicable charges and fees. Withdrawals are Conforming Withdrawals or Excess Withdrawals. Any Withdrawal that otherwise is a Conforming Withdrawal, but that is not made payable to the Owner or the Owner’s bank account, or to the original Annuitant or the original Annuitant’s bank account (if the Owner is a Non-Natural Person), will be treated as an Excess Withdrawal. Under the Joint Measuring Life Option, if the Owner is a Non-Natural Person, upon the death of the original Annuitant where the Secondary Life continues the Contract, any Withdrawal that otherwise is a Conforming Withdrawal, but is not made payable to the succeeding Annuitant or the succeeding Annuitant’s bank account, will be treated as an Excess Withdrawal.
Conforming Withdrawals are all Withdrawals to the extent that the cumulative amount withdrawn (including the current Withdrawal) from the Contract in that Benefit Year is equal to or less than the Protected Annual Income. If the Owner receives only Systematic Required Minimum Distributions during a Benefit Year, all Systematic Required Minimum Distributions during that Benefit Year will be treated as Conforming Withdrawals. However, if a Withdrawal other than Systematic Required Minimum Distributions occurs during a Benefit Year, then that Withdrawal and any subsequent Withdrawals, including Systematic Required Minimum Distributions, will be treated as Excess Withdrawals to the extent that the cumulative amount withdrawn in that Benefit Year exceeds the Protected Annual Income.
Excess Withdrawals are all Withdrawals to the extent that the cumulative amount withdrawn (including the current Withdrawal) from the Contract in that Benefit Year exceeds each Conforming Withdrawal. If any Measuring Life is younger than the Protected Annual Income Age shown on the Rider Specifications, all Withdrawals are Excess Withdrawals.

RIDER BENEFIT
 
PROTECTED INCOME BASE

The Protected Income Base is the value used to calculate the Protected Annual Income and the Protected Lifetime Income Fees. The Protected Income Base value is distinct from the Contract Value and is not used to calculate the cash surrender value, Death Benefit, or other guaranteed paid-up annuity benefits under the Contract.

If the Rider Date is the Contract Date, the initial Protected Income Base will be equal to the initial Purchase Payment. If the Rider Date is after the Contract Date, the initial Protected Income Base will be equal to the Contract Value on the Rider Date.

On a Rider Date Anniversary, the Protected Income Base may be adjusted by an Enhancement or an Account Value lock in as described in the PROTECTED INCOME BASE ON EACH RIDER ANNIVERSARY provisions of this Rider. Otherwise, the Protected Income Base may be adjusted by:
(a)
an additional Purchase Payment. The Protected Income Base will be increased by the amount of the additional Purchase Payment on the Valuation Date it is approved and added to the Contract. Additional Purchase Payments may increase the Protected Lifetime Income Fee rate if the cumulative Purchase Payments approved and added to the Contract after the first Benefit Year is equal to or exceeds the Additional Purchase Payment Restriction Limit shown on the Rider Specifications, and
(b)
an Excess Withdrawal. Upon an Excess Withdrawal, the Protected Income Base will be reduced in the same proportion that the Excess Withdrawal reduced the Contract Value. The Protected Income Base will not be reduced by each Conforming Withdrawal.

On the Valuation Date the Protected Income Base is reduced to $0 after an Excess Withdrawal, this Rider and the Contract to which it is attached will terminate.

ENHANCEMENT BASE. The Enhancement Base is the value used to calculate the Enhancement Value. The initial Enhancement Base is equal to the initial Protected Income Base. Neither the Enhancement Base nor the Enhancement Value are used to calculate the cash surrender value, Death Benefit, or other guaranteed paid-up annuity benefits under the Contract.

The Enhancement Base is adjusted by:
(a)
an additional Purchase Payment. The Enhancement Base will be increased by the amount of an additional Purchase Payment that has been approved and added to the Contract for at least one Benefit Year (except that a Purchase Payment approved and added to the Contract within the first 90 days after the Rider Date will increase the Enhancement Base on the Valuation Date it is approved and added to the Contract); and
(b)
an Excess Withdrawal. Upon an Excess Withdrawal, the Enhancement Base will be reduced in the same proportion that the Excess Withdrawal reduced the Contract Value. The Enhancement Base will not be reduced by each Conforming Withdrawal.

MAXIMUM PROTECTED INCOME BASE. The Protected Income Base is subject to the Maximum Protected Income Base Limit shown on the Rider Specifications. The Maximum Protected Income Base Limit is the combined Protected Income Base values, Protected Amount values, Income Base values, Guaranteed Amount and other guaranteed amounts for all Company annuity contracts and annuity riders, including annuity contracts with an affiliated company, where the Owner is the same or for which the Annuitant or Secondary Life, if applicable, is a Measuring Life or Owner.

If the Maximum Protected Income Base Limit is exceeded, the Protected Income Base values, Protected Amount values, Income Base values Guaranteed Amount and other guaranteed amounts for each applicable annuity contract and annuity rider will be reduced proportionately until the combined amount values do not exceed the Maximum Protected Income Base Limit.

The Protected Amount, Income Base and Guaranteed Amount are the values used to calculate the amounts available for the Protected Annual Income, Guaranteed Annual Income or Maximum Annual Withdrawal and determine the rider charges or Protected Lifetime Income Fees under a Company annuity contract or an annuity rider, including annuity contracts with an affiliated company. The Protected Income Base under this Rider means the Protected Amount, Income Base or Guaranteed Amount for the purposes of calculating the Protected Amount maximum, Income Base maximum or Guaranteed Amount maximum for such Company annuity contract or an annuity rider, including annuity contracts with an affiliated company.

PROTECTED INCOME BASE ON EACH RIDER ANNIVERSARY

On the Rider Date Anniversary, the Protected Income Base will be the greater of (A), (B) or (C), where:

A
is the Protected Income Base on the Rider Date Anniversary immediately prior to any Rider Date Anniversary adjustment.

B
is the Enhancement Value as described in the ENHANCEMENT provision of this Rider.

C
is the Contract Value as determined by an Account Value lock in described in the ACCOUNT VALUE LOCK IN provision of this Rider.

ENHANCEMENT. An Enhancement will increase the Protected Income Base to equal the Enhancement Value, if all the conditions in this provision are satisfied. On the Rider Date Anniversary, any Protected Lifetime Income Fee due is deducted and an Account Value lock in is calculated after the Enhancement Value is calculated.

The initial Enhancement Value on the first Rider Date Anniversary is the sum of (A) and ((A) multiplied by (B)), where:

A
is the Enhancement Base.
B    is the Enhancement Rate shown on the Rider Specifications.

On each subsequent Rider Date Anniversary thereafter, the Enhancement Value established on the previous Rider Date Anniversary is increased by an amount equal to the Enhancement Base multiplied by the Enhancement Rate shown on the Rider Specifications.

The Enhancement Value is increased by the amount of an additional Purchase Payment on the Valuation Date it is approved and added to the Contract and is reduced by all Excess Withdrawals made during the preceding Benefit Year in the same proportion that the Excess Withdrawals reduced the Contract Value.

We will calculate the Enhancement Value on each Rider Date Anniversary if the preceding Benefit Year is during the Enhancement Period shown on the Rider Specifications, except if a Withdrawal occurred in that Benefit Year. However, the Enhancement will occur on a Rider Date Anniversary only if all the following conditions are satisfied:
(a)
the preceding Benefit Year is during the Enhancement Period shown on the Rider Specifications; and
(b)
no Withdrawal occurred in the preceding Benefit Year; and
(c)
all Measuring Lives are under the Enhancement Maximum Age shown on the Rider Specifications; and
(d)
the Enhancement Value is greater than an Account Value lock in that may have occurred and been accepted on the same Rider Date Anniversary; and
(e)
the Enhancement Value is greater than the Protected Income Base immediately prior to a Rider Date Anniversary adjustment.

The Protected Lifetime Income Fee rate does not increase after an Enhancement.

ACCOUNT VALUE LOCK IN. An Account Value lock in will increase the Protected Income Base to equal the Contract Value. The Account Value lock in will not increase the Enhancement Base or the Enhancement Value.

On a Rider Date Anniversary, We will compare the Contract Value to the Protected Income Base and an Account Value lock in will occur if all the following conditions are satisfied:
(a)
the Contract Value is greater than the Protected Income Base immediately prior to a Rider Date Anniversary adjustment; and
(b)
all Measuring Lives are under the Account Value lock in Maximum Age shown on the Rider Specifications; and
(c)
the Account Value lock in is greater than the Enhancement Value on the same Rider Date Anniversary.

The Account Value lock in may increase the Protected Lifetime Income Fee rate to the Protected Lifetime Income Fee rate currently in effect if such rate is higher than the current Protected Lifetime Income Fee rate. The new Protected Lifetime Income Fee rate will never exceed the Guaranteed Maximum Annual Protected Lifetime Income Fee Rate shown on the Rider Specifications.

If the Protected Lifetime Income Fee rate increases, the Owner may decline the Account Value lock in by Notice to Us within 30 days of the effective date of the increase. If the Owner does not decline the Account Value lock in within 30 days of the effective date of the increase, the increase to the Protected Income Base will be deemed accepted by the Owner.

If the Owner declines the Account Value lock in, the Protected Income Base will be the Protected Income Base immediately prior to when the Account Value lock in was determined.

The Owner will be eligible for future Account Value lock ins after declining an Account Value lock in.

PROTECTED ANNUAL INCOME

The Protected Annual Income is the amount that may be withdrawn from the Contract by the Owner, each Benefit Year, as a Conforming Withdrawal once all Measuring Lives are greater or equal to the Protected Annual Income Age shown on the Rider Specifications. If the Measuring Life Option is Joint, the Protected Annual Income available is based on the attained age of the younger or surviving Measuring Life. The Protected Annual Income may be withdrawn during the lifetimes of all Measuring Lives until the Protected Annual Income or Protected Income Base are reduced to $0. The Protected Annual Income may also be continued for the lifetimes of the Measuring Lives, if the conditions described in the PROTECTED ANNUAL INCOME ANNUITY PAYMENT OPTION or CONTRACT VALUE REDUCES TO $0 provisions are satisfied.

Any part of the Protected Annual Income not taken during a given Benefit Year cannot be taken in a subsequent Benefit Year without causing an Excess Withdrawal.


The Protected Annual Income is calculated by multiplying the Protected Income Base by a Protected Annual Income Rate from the applicable Protected Annual Income Rate Table, which varies by age and the Measuring Life Option. When the Contract Value is greater than $0, Protected Annual Income Rate Table A is used to calculate the Protected Annual Income. The Protected Annual Income Rate Table B will be used to calculate the Protected Annual Income once the Contract Value is reduced to $0 or when the Protected Annual Income Annuity Payment Option is elected. The Protected Annual Income Rate Tables A and B are shown on the Rider Specifications.

When the Protected Income Base is adjusted by an Account Value lock in, an Enhancement, an additional Purchase Payment approved and added to the Contract or an Excess Withdrawal, the Protected Annual Income will be recalculated to equal the applicable Protected Annual Income Rate multiplied by the new Protected Income Base. On each Rider Date Anniversary when either an Account Value lock in is accepted or if an Enhancement occurs, the Protected Annual Income is recalculated before any other transactions are processed. The Protected Annual Income is increased by an additional Purchase Payment on the Valuation Date the Purchase Payment is approved and added to the Contract and reduced by an Excess Withdrawal on the Valuation Date the Withdrawal is taken.

When Protected Annual Income Rate Table A is used to calculate the initial Protected Annual Income, the Protected Annual Income Rate used to calculate the initial Protected Annual Income will be the rate that corresponds to the attained age of the Measuring Life as of the Valuation Date of the first Conforming Withdrawal. If the Measuring Life Option is Joint, the Protected Annual Income Rate will be the rate that corresponds to the attained age of the younger or surviving Measuring Life.

When Protected Annual Income Rate Table B is used to calculate the initial Protected Annual Income, the Protected Annual Income Rate will be the rate that corresponds to the later of the attained age of the Measuring Lives as of:

(a)
the first Conforming Withdrawal; or

(b)
the Valuation Date the Protected Annual Income was last calculated by Protected Annual Income Rate Table A.

After the initial Protected Annual Income is calculated, the Protected Annual Income Rate will not change, except if an Account Value lock in occurs and is accepted, the Protected Annual Income Rate used to recalculate the new Protected Annual Income will be the rate that corresponds to the attained age of the applicable Measuring Life on the Valuation Date of the Account Value lock in.

The Protected Annual Income payable when calculated by Protected Annual Income Rate Table A may not exceed the remaining Contract Value in any Benefit Year. However, if the Protected Annual Income payable in a Benefit Year the Contract Value is reduced to $0 or the Protected Annual Income Annuity Payment Option is elected, is less than the Protected Annual Income recalculated by Protected Annual Income Rate Table B, the difference between the Protected Annual Income calculated by Protected Annual Income Rate Table B and the total Protected Annual Income already paid in that Benefit Year will be payable as a Conforming Withdrawal for the remainder of the Benefit Year.

MAXIMUM PROTECTED ANNUAL INCOME. The combined Protected Annual Income (including any guaranteed amounts, Guaranteed Annual Income amount, Protected Annual Income amount and Maximum Annual Withdrawal amount) for all Company annuity contracts, including annuity contracts with an affiliated company, for which the Annuitant or Secondary Life, if applicable, is a Measuring Life or Owner, is subject to the Protected Annual Income Rate used when the Protected Annual Income was last determined multiplied by the Maximum Protected Income Base.

The Guaranteed Annual Income, Protected Annual Income or Maximum Annual Withdrawal amount are the amounts that may be withdrawn from a Company annuity contract or an annuity rider by the Owner each Benefit Year. The Protected Annual Income under this Rider means the Guaranteed Annual Income amount, Protected Annual Income amount for the purposes of calculating the Guaranteed Annual Income maximum or Protected Annual Income maximum, including any Maximum Annual Withdrawal amount, for such Company annuity contract or an annuity rider, including annuity contracts with an affiliated company.

CONTRACT VALUE REDUCES TO $0

On the Valuation Date the Contract Value reduces to $0, if:

(a)
the Protected Income Base is not $0; and

(b)
the Contract has not been surrendered or assigned for value;
the Protected Annual Income as calculated pursuant to the PROTECTED ANNUAL INCOME provision of this Rider, will continue for the lifetimes of all Measuring Lives and a quarterly Protected Lifetime Income Fee will no longer apply.

The Owner may elect to receive the Protected Annual Income at any frequency the Company offers, subject to Our minimum payment amount rules then in effect, but no less frequently than annually.

If the Contract Value is $0, no Death Benefit will be paid.

PROTECTED ANNUAL INCOME ANNUITY PAYMENT OPTION

The Protected Annual Income Annuity Payment Option may be irrevocably elected by the Owner upon Notice to Us, provided the Contract has not been surrendered or assigned for value. If elected, the Owner will receive payment equal to the Protected Annual Income as calculated pursuant to the DETERMINING THE PROTECTED ANNUAL INCOME provision of this Rider, each Benefit Year for the lifetimes of all Measuring Lives and a quarterly Protected Lifetime Income Fee will no longer apply. The Owner may elect to receive the Protected Annual Income at any frequency We offer, subject to Our minimum payment amount rules then in effect, but no less frequently than annually.

If this Protected Annual Income Annuity Payment Option is in effect, no Death Benefit will be paid.

EFFECT OF DEATH

This Rider will terminate on the death of the Annuitant if the Measuring Life Option is Single. Upon the first death of a Measuring Life if the Measuring Life Option is Joint, the Owner may continue the Contract and this Rider in force under the Joint Measuring Life Option. If so continued, the Protected Annual Income will continue for the life of the surviving Measuring Life. Upon the death of the surviving Measuring Life, this Rider will terminate.


PROTECTED LIFETIME INCOME FEE

The Initial Annual Protected Lifetime Income Fee Rate shown on the Rider Specifications is divided by four to calculate the initial quarterly Protected Lifetime Income Fee rate. The Protected Lifetime Income Fee rate may change as described in this provision, but the annual Protected Lifetime Income Fee rate will never exceed the Guaranteed Maximum Annual Protected Lifetime Income Fee Rate shown on the Rider Specifications. Any change to the Protected Lifetime Income Fee rate will occur only on a Rider Date Anniversary.

DETERMINING THE QUARTERLY PROTECTED LIFETIME INCOME FEE. A quarterly Protected Lifetime Income Fee is deducted from the Contract Value on each quarterly anniversary of the Rider Date. If the day is not a Valuation Date, and a Protected Lifetime Income Fee is due, that fee will be deducted on the first Valuation Date following such calendar day. The amount of the quarterly Protected Lifetime Income Fee is the quarterly Protected Lifetime Income Fee rate multiplied by the Protected Income Base, prior to any Rider Date Anniversary adjustment, on the Valuation Date the fee is deducted.

Quarterly Protected Lifetime Income Fees will be deducted from each Variable Subaccount and Fixed Account, if any, on a proportional basis. A pro-rata quarterly Protected Lifetime Income Fee will be recalculated and deducted upon termination of this Rider, except if this Rider is terminated due to death.

ADJUSTMENTS TO THE PROTECTED LIFETIME INCOME FEE RATE ON A RIDER DATE ANNIVERSARY. The Protected Lifetime Income Fee rate may change on a Rider Date Anniversary due to:
(a)
an additional Purchase Payment approved and added to the Contract in the Benefit Year preceding the applicable Rider Date anniversary, if the cumulative Purchase Payments approved and added to the Contract after the first Benefit Year equals or exceeds the Additional Purchase Payment Restriction Limit shown on the Rider Specifications; or
(b)
an Account Value lock in pursuant to the ACCOUNT VALUE LOCK IN provision of this Rider; or
(c)
Our annual review of the current Protected Lifetime Income Fee rate at any time after the 10th Rider Date Anniversary. We reserve the right to review and adjust the current Protected Lifetime Income Fee rate no more frequently than once annually and any decision to adjust the Protected Lifetime Income Fee rate will be at Our discretion, subject to the Guaranteed Maximum Protected Lifetime Income Fee Rate shown on the Rider Specifications.
If the adjustment results in an increase to the Protected Lifetime Income Fee rate, the Owner may decline the increase by Notice to Us within 30 days of the effective date of the increase. If the Owner does not decline the increase within 30 days of the effective date of the increase, it will be deemed accepted by the Owner. The Owner will not be eligible for future Account Value lock ins or Enhancements after declining such increase.

GENERAL

GUARANTEE OF PRINCIPAL DEATH BENEFIT AMOUNT. A Guarantee of Principal Death Benefit is provided under the Guarantee of Principal, the Enhanced Guaranteed Minimum Death Benefit, and the Estate Enhancement Benefit, one of which may be applicable to the Contract as shown in the Contract Specifications.

This Guarantee of Principal Death Benefit Amount provision does not apply if the Contract provides that all death benefits are reduced by the amount of all Withdrawals. If the Contract includes a Death Benefit, including any Death Benefit Rider that has a Death Benefit Amount defined as the sum of all Purchase Payments minus all death benefit reductions, and that such death benefit reductions of Purchase Payments “will be in proportion to the amount withdrawn” such Death Benefit Amount definition is hereby replaced with the following:
The sum of all Purchase Payments, minus all Death Benefit Reductions and any Bonus Credits. Death Benefit Reductions are made whenever a Withdrawal occurs.

For Withdrawals prior to the Rider Date of the Variable Annuity Living Benefits Rider and after the termination of the Variable Annuity Living Benefits Rider, Death Benefit Reductions are calculated proportionately; the percentage reduction of the Contract Value due to the Withdrawal will be applied to the Purchase Payments as the Death Benefit Reduction.

For Withdrawals while the Variable Annuity Living Benefits Rider is in force:

(a)
upon Excess Withdrawals, Death Benefit Reductions are calculated proportionately; the percentage reduction of the Contract Value due to the Excess Withdrawal will be applied to the Purchase Payments as the Death Benefit Reduction, and

(b)
upon Conforming Withdrawals, the reduction of the Contract Value due to each Conforming Withdrawal will be applied to the Purchase Payments as the Death Benefit Reduction.

MORTALITY AND EXPENSE RISK AND ADMINISTRATIVE CHARGE. While this Rider is in effect, the Mortality and Expense Risk and Administrative Charge rates for the Contract are shown under Mortality And Expense Risk And Administrative Charge Prior To The Annuity Commencement Date on the Contract Specifications.

TERMINATION OF THIS RIDER. The Owner may terminate this Rider upon Notice to the Company any time after the Rider Termination Period shown on the Rider Specifications. Otherwise, this Rider will terminate upon the earliest of the following event to occur:
(a)
the date the Contract to which this Rider is attached terminates; or
(b)
the date the Owner is changed due to death or pursuant to an enforceable divorce agreement or decree, except when Ownership is transferred to the surviving Secondary Life upon death of the Annuitant/Owner; or
(c)
the Annuity Commencement Date of the Contract to which this Rider is attached, except under the Protected Annual Income Annuity Payment Option; or
(d)
the death of the Annuitant if the Measuring Life Option is Single, or on the death of the last surviving Measuring Life if the Measuring Life Option is Joint; or
(e)
the date the Owner sells or assigns for value the Contract other than to the Annuitant, or discounts or pledges it as collateral for a loan or as a security for the performance of an obligation or any other purpose; or
(f)
the date both the Income Base and Protected Annual Income equal $0 as the result of an Excess Withdrawal.

Upon termination of this Rider, the benefits and fees within this Rider will terminate. A pro-rata Protected Lifetime Income Fee will be deducted upon termination, except if this Rider is terminated due to death.


Exhibit d(41)

The Lincoln National Life Insurance Company

GUARANTEED INCOME LATER RIDER

This optional Rider is made a part of the entire Contract to which it is attached. Except as stated in this Rider, it is subject to all provisions contained in the Contract. In case of any conflict between the provisions of the Contract and this Rider, the provisions of this Rider will control. Coverage under this Rider begins on the Rider Date shown on the Rider Specifications.

SUMMARY OF RIDER PROVISIONS

This Rider provides a guaranteed minimum amount equal to the Protected Income Base, which will be used to calculate the Guaranteed Income Benefit. To receive the Guaranteed Income Benefit under this Rider, the Owner must elect to begin receiving Periodic Income Payments determined under the Variable Annuity Payment Option Rider, which is also attached to the Contract.

When the Owner elects to begin receiving Periodic Income Payments determined under the Variable Annuity Payment Option Rider, on each Valuation Date that We pay the Periodic Income Payment, the amount payable will be the greater of the Periodic Income Payment determined under the Variable Annuity Payment Option Rider, or the Guaranteed Income Benefit. The initial Guaranteed Income Benefit is shown on the Contract Benefit Data page(s) issued upon the Owner’s election of benefits under the Variable Annuity Payment Option Rider.

INTERACTION WITH THE VARIABLE ANNUITY PAYMENT OPTION RIDER
The Owner may not elect to begin receiving variable Periodic Income Payments payable under the Variable Annuity Payment Option Rider attached to the Contract unless:
(a)
this Rider has terminated but the Contract to which it is attached is still in effect; and
(b)
the GUARANTEED INCOME BENEFIT provision of this Rider is concurrently effective.

The Variable Annuity Payment Option Rider Date is shown on the Contract Benefit Data page(s) issued upon the Owner’s election to receive benefits under the Variable Annuity Payment Option Rider.

Once the Owner elects to begin receiving Periodic Income Payments payable under the Variable Annuity Payment Option Rider and the GUARANTEED INCOME BENEFIT of this Rider is concurrently effective, the Owner must terminate both this Rider and the Guaranteed Income Benefit concurrently to terminate the Variable Annuity Payment Option Rider and the Guaranteed Income Benefit.

ADDITIONAL PURCHASE PAYMENT RESTRICTION

Subject to any further limitations stated in the Contract to which this Rider is attached and the Maximum Protected Income Base Limit, cumulative additional Purchase Payments after the first Benefit Year may not equal or exceed the Additional Purchase Payment Restriction Limit without Our prior approval.

No additional Purchase Payments will be approved and added to the Contract:
(a)
after the Variable Annuity Payment Option Rider and the GUARANTEED INCOME BENEFIT provision are concurrently effective; or
(b)
if the Contract Value is $0.

The Maximum Protected Income Base Limit and Additional Purchase Payment Restriction Limit are shown on the Rider Specifications.

DEFINITIONS
All definitions found in the Contract are incorporated by reference and have the same meaning as they do in the Contract including other riders, endorsements, or amendments.

Access Period is applicable after the election of the Variable Annuity Payment Option Rider attached to the Contract and concurrent commencement of the GUARANTEED INCOME BENEFIT provision of this Rider. It is a defined period selected by the Owner during which We make Periodic Income Payments under the Variable Annuity Payment Option Rider. The Owner will continue to have access to the Account Value and a Death Benefit is payable during the Access Period.

Annuitant is the Natural Person used to determine the benefits if the Measuring Life Option is Single. The Annuitant is one of two Natural Persons used to determine the benefits if the Measuring Life Option is Joint. The Contract may only have one Annuitant. The Annuitant may not be changed.

Benefit Year is applicable prior to the election of the Variable Annuity Payment Option Rider attached to the Contract and concurrent commencement of the GUARANTEED INCOME BENEFIT provision of this Rider. It means each 12-month period starting with the Rider Date shown on the Rider Specifications and each Rider Date Anniversary thereafter.

Code is the Internal Revenue Code of 1986, as amended.

Company, Our, Us, and We refers to The Lincoln National Life Insurance Company.

Lifetime Income Period is applicable after the election of the Variable Annuity Payment Option Rider attached to the Contract and concurrent commencement of the GUARANTEED INCOME BENEFIT provision of this Rider. It is the period that begins after the Access Period ends as described under the Variable Annuity Payment Option Rider, provided the Annuitant or the Secondary Life, if any, is still living and the Contract has not been surrendered. The Owner will not have access to the Account Value and a Death Benefit is not payable during the Lifetime Income Period.

Measuring Life(Lives) is/are the Natural Person(s) used to determine the benefits under this Rider. Measuring Life includes any Annuitant, Owner, Joint Owner, and Secondary Life, subject to the Measuring Life Option elected.

Measuring Life Option indicates how many Natural Persons are used to determine the benefits under this Rider. Under the Single Measuring Life Option, the Annuitant is used to determine the benefits under this Rider. Under the Joint Measuring Life Option, the Annuitant and the Secondary Life are used to determine the benefits under this Rider. The Measuring Life Option may not be changed after the Rider Date. The Measuring Life Option is shown on the Rider Specifications.

Natural Person is a human being.

Non-Natural Person, for purposes of this Rider, includes a trust, corporation, partnership, or association.

Periodic Income Payment is applicable after the election of the Variable Annuity Payment Option Rider attached to the Contract and concurrent commencement of the GUARANTEED INCOME BENEFIT provision of this Rider. Periodic Income Payments are the variable amounts payable under the Variable Annuity Payment Option Rider to an Owner, or an Owner’s designee. At the time the Variable Annuity Payment Option Rider is elected, an Owner must select one of the following Periodic Income Payment Modes: monthly, quarterly, semi-annually, or annually. The Initial Periodic Income Payment Mode selected is shown on the Contract Benefit Data page(s).

Purchase Payments, for the purpose of this Rider, means the amounts paid into the Contract by the Owner including Bonus Credits, if any, before deduction of any Sales Charges. Bonus Credits and Sales Charges, if any, are shown on the Contract Specifications.

Rider Date Anniversary is applicable prior to the election of the Variable Annuity Payment Option Rider attached to the Contract and concurrent commencement of the GUARANTEED INCOME BENEFIT provision of this Rider. It is the same calendar day as the Rider Date, each subsequent calendar year, if such date is a Valuation Date. If during any calendar year, the calendar day is not a Valuation Date, the Rider Date Anniversary will be the first Valuation Date following such calendar day and any transactions that should have occurred on the Rider Date Anniversary will be processed by Us on that Valuation Date.

A quarterly anniversary of the Rider Date is the same calendar day as the Rider Date of every third month following the previous Rider Date, if such date is a Valuation Date. If the day is not a Valuation Date, any transactions that should have occurred on the quarterly anniversary will be processed by Us on the first Valuation Date following that quarterly anniversary.

Secondary Life means the second Natural Person, if any, used to determine the benefits under this Rider if the Measuring Life Option is Joint. The Secondary Life may not be changed. The Secondary Life may also be considered a joint annuitant, solely for the purposes of being a Measuring Life under this Rider and not for any other purposes in the Contract or any other Rider attached to the Contract. The Secondary Life, if any, is shown on the Rider Specifications.

Withdrawal, before the election of the Variable Annuity Payment Option Rider attached to the Contract and concurrent commencement of the GUARANTEED INCOME BENEFIT provision of this Rider, means any gross amount deducted from the Contract Value as requested by the Owner before any applicable charges and fees. While the Variable Annuity Payment Option Rider and GUARANTEED INCOME BENEFIT provision of this Rider is effective, Withdrawals are all additional amounts from the Account Value requested by the Owner, other than Periodic Income Payments.

PROTECTED INCOME BASE

The Protected Income Base is the value used to calculate the Protected Lifetime Income Fee amounts and may determine the initial Guaranteed Income Benefit. The Protected Income Base value is distinct from the Contract Value and is not used to calculate the cash surrender value, Death Benefit, or other guaranteed paid-up annuity benefits under the Contract.

If the Rider Date is the Contract Date, the initial Protected Income Base will be equal to the initial Purchase Payment. If the Rider Date is after the Contract Date, the initial Protected Income Base will be equal to the Contract Value on the Rider Date.

On a Rider Date Anniversary, the Protected Income Base may be adjusted by an Enhancement or an Account Value lock in as described in the PROTECTED INCOME BASE ON EACH RIDER ANNIVERSARY provisions of this Rider. Otherwise, the Protected Income Base may be adjusted by:
(a)
an additional Purchase Payment. The Protected Income Base will be increased by the amount of the additional Purchase Payment on the Valuation Date it is approved and added to the Contract. Additional Purchase Payments may increase the Protected Lifetime Income Fee rate if the cumulative Purchase Payments approved and added to the Contract after the first Benefit Year is equal to or exceeds the Additional Purchase Payment Restriction Limit shown on the Rider Specifications, and
(b)
a Withdrawal. Upon a Withdrawal, the Protected Income Base will be reduced in the same proportion that the Withdrawal reduced the Contract Value. The Protected Income Base will not be reduced by each Conforming Withdrawal.

On the Valuation Date the Protected Income Base is reduced to $0 after a Withdrawal, this Rider and the Contract to which it is attached will terminate.

ENHANCEMENT BASE. The Enhancement Base is the value used to calculate the Enhancement Value. The initial Enhancement Base is equal to the initial Protected Income Base. Neither the Enhancement Base nor the Enhancement Value are used to calculate the cash surrender value, Death Benefit, or other guaranteed paid-up annuity benefits under the Contract.

The Enhancement Base is adjusted by:
(a)
an additional Purchase Payment. The Enhancement Base will be increased by the amount of an additional Purchase Payment that has been approved and added to the Contract for at least one Benefit Year (except that a Purchase Payment approved and added to the Contract within the first 90 days after the Rider Date will increase the Enhancement Base on the Valuation Date it is approved and added to the Contract); and
(b)
a Withdrawal. Upon a Withdrawal, the Enhancement Base will be reduced in the same proportion that the Withdrawal reduced the Contract Value. The Enhancement Base will not be reduced by each Conforming Withdrawal.


MAXIMUM PROTECTED INCOME BASE. The Protected Income Base is subject to the Maximum Protected Income Base Limit shown on the Rider Specifications. The Maximum Protected Income Base Limit is the combined Protected Income Base values, Protected Amount values, Income Base values, Guaranteed Amount and other guaranteed amounts for all Company annuity contracts and annuity riders, including annuity contracts with an affiliated company, where the Owner is the same or for which the Annuitant or Secondary Life, if applicable, is a Measuring Life or Owner.

If the Maximum Protected Income Base Limit is exceeded, the Protected Income Base values, Protected Amount values, Income Base values Guaranteed Amount and other guaranteed amounts for each applicable annuity contract and annuity rider will be reduced proportionately until the combined amount values do not exceed the Maximum Protected Income Base Limit.

PROTECTED INCOME BASE ON EACH RIDER ANNIVERSARY
On the Rider Date Anniversary, the Protected Income Base will be the greater of (A), (B) or (C), where:

A
is the Protected Income Base on the Rider Date Anniversary immediately prior to any Rider Date Anniversary adjustment.

B
is the Enhancement Value as described in the ENHANCEMENT provision of this Rider.

C
is the Contract Value as determined by an Account Value lock in described in the ACCOUNT VALUE LOCK IN provision of this Rider.

ENHANCEMENT. An Enhancement will increase the Protected Income Base to equal the Enhancement Value, if all the conditions in this provision are satisfied. On the Rider Date Anniversary, any Protected Lifetime Income Fee due is deducted and an Account Value lock in is calculated after the Enhancement Value is calculated.

The initial Enhancement Value on the first Rider Date Anniversary is the sum of (A) and ((A) multiplied by (B)), where:

A
is the Enhancement Base.

B
is the Enhancement Rate shown on the Rider Specifications.

On each subsequent Rider Date Anniversary thereafter, the Enhancement Value established on the previous Rider Date Anniversary is increased by an amount equal to the Enhancement Base multiplied by the Enhancement Rate shown on the Rider Specifications.

The Enhancement Value is increased by the amount of an additional Purchase Payment on the Valuation Date it is approved and added to the Contract and is reduced by all Withdrawals made during the preceding Benefit Year in the same proportion that the Withdrawals reduced the Contract Value.

We will calculate the Enhancement Value on each Rider Date Anniversary if the preceding Benefit Year is during the Enhancement Period shown on the Rider Specifications, except if a Withdrawal occurred in that Benefit Year. However, the Enhancement will occur on a Rider Date Anniversary only if all the following conditions are satisfied:
(a)
the preceding Benefit Year is during the Enhancement Period shown on the Rider Specifications; and
(b)
no Withdrawal occurred in the preceding Benefit Year; and
(c)
all Measuring Lives are under the Enhancement Maximum Age shown on the Rider Specifications; and
(d)
the Enhancement Value is greater than an Account Value lock in that may have occurred and been accepted on the same Rider Date Anniversary; and
(e)
the Enhancement Value is greater than the Protected Income Base immediately prior to a Rider Date Anniversary adjustment.

The Protected Lifetime Income Fee rate does not increase after an Enhancement.

ACCOUNT VALUE LOCK IN. An Account Value lock in will increase the Protected Income Base to equal the Contract Value. The Account Value lock in will not increase the Enhancement Base or the Enhancement Value.

On a Rider Date Anniversary, We will compare the Contract Value to the Protected Income Base and an Account Value lock in will occur if all the following conditions are satisfied:
(a)
the Contract Value is greater than the Protected Income Base immediately prior to a Rider Date Anniversary adjustment; and
(b)
all Measuring Lives are under the Account Value lock in Maximum Age shown on the Rider Specifications; and
(c)
the Account Value lock in is greater than the Enhancement Value on the same Rider Date Anniversary.

The Account Value lock in may increase the Protected Lifetime Income Fee rate to the Protected Lifetime Income Fee rate currently in effect if such rate is higher than the current Protected Lifetime Income Fee rate. The new Protected Lifetime Income Fee rate will never exceed the Guaranteed Maximum Annual Protected Lifetime Income Fee Rate shown on the Rider Specifications.

If the Protected Lifetime Income Fee rate increases, the Owner may decline the Account Value lock in by Notice to Us within 30 days of the effective date of the increase. If the Owner does not decline the Account Value lock in within 30 days of the effective date of the increase, the increase to the Protected Income Base will be deemed accepted by the Owner.

If the Owner declines the Account Value lock in, the Protected Income Base will be the Protected Income Base immediately prior to when the Account Value lock in was determined.

The Owner will be eligible for future Account Value lock ins after declining an Account Value lock in.

GUARANTEED INCOME BENEFIT

This GUARANTEED INCOME BENEFIT provision:
(a)
is effective upon the concurrent Variable Annuity Payment Option Rider Date. The Variable Annuity Payment Option Rider Date is shown on the Contract Benefit Data Page(s) issued when the Owner elects the benefits under the Variable Annuity Payment Option Rider.
(b)
provides that the minimum amount payable for each variable Periodic Income Payment made under the Variable Annuity Payment Option Rider is guaranteed not to fall below the Guaranteed Income Benefit.

The Guaranteed Income Benefit and the Periodic Income Payments under the Variable Annuity Payment Option Rider are calculated on the Periodic Income Commencement Date shown on the Contract Benefit Data page(s) issued upon the Owner’s election of benefits under the Variable Annuity Payment Option Rider.

The amount payable for each variable Periodic Income Payment under the Variable Annuity Payment Option Rider will be the greater of the Periodic Income Payment determined under the Variable Annuity Payment Option Rider or the Guaranteed Income Benefit determined under this Rider. The initial Guaranteed Income Benefit is shown on the Contract Benefit Data Page(s).

For Non-qualified contracts, an Owner must elect to adjust the Periodic Income Payments payable under the Variable Annuity Payment Option Rider on an annual basis (‘LevelPay’).

ELIGIBILITY LIMITATIONS. The commencement of Periodic Income Payments under the Variable Annuity Payment Option Rider is available subject to the following maximum and minimum Variable Annuity Payment Option Rider age requirement, minimum Access Period limits and the required Assumed Investment Rate:
(a)
For Non-qualified contracts, if the Measuring Life Option is Joint, the younger or surviving Measuring Life’s age shall be subject to the maximum and minimum Variable Annuity Payment Option Rider age requirement. For Qualified contracts, if the Measuring Life Option is Joint, the current Owner’s age shall be subject to the maximum and minimum Variable Annuity Payment Option Rider age requirement; and
(b)
The minimum Access Period as shown on the Rider Specifications; and
(c)
The Assumed Investment Rate used to calculate the Periodic Income Payments under the Variable Annuity Payment Option Rider. The rate may be referred to as Assumed Investment Return or Assumed Interest Rate.

After the Owner elects to begin Periodic Income Payments payable under the Variable Annuity Payment Option Rider, the Owner may not request a change in the Periodic Income Payment Mode or request a decrease in the length of the Access Period.

DETERMINING THE INITIAL GUARANTEED INCOME BENEFIT. The initial Guaranteed Income Benefit will be (A) multiplied by the greater of (B) or (C), where:

A
is the Initial Guaranteed Income Benefit Percentage as shown on the Initial Guaranteed Income Benefit Percentage Table. The Initial Guaranteed Income Benefit Percentage is the percentage that corresponds to the attained age of the Measuring Life on the Valuation Date of the first Periodic Income Payment under the Variable Annuity Payment Option Rider. If the Measuring Life Option is Joint, the Initial Guaranteed Income Benefit Percentage is the percentage that corresponds to the attained age of the younger or surviving Measuring Life on the Valuation Date of the first Periodic Income Payment under the Variable Annuity Payment Option Rider; and

B
is the Protected Income Base; and

C
is the Account Value on the Valuation Date of the first Periodic Income Payment under the Variable Annuity Payment Option Rider.

GUARANTEED INCOME BENEFIT STEP-UP DATE. GUARANTEED INCOME BENEFIT STEP-UP DATE. A Guaranteed Income Benefit Step-Up Date is the date on which a Guaranteed Income Benefit Step-Up may occur as described in the AUTOMATIC STEP-UP OF THE GUARANTEED INCOME BENEFIT provision of this Rider.

For Non-qualified contracts, a Guaranteed Income Benefit Step-Up Date is the first Valuation Date on or after the Periodic Income Commencement Date anniversary of each one-year period measured from the Periodic Income Commencement Date.

For Qualified contracts, the first Guaranteed Income Benefit Step-Up Date is the Valuation Date of the first Periodic Income Payment in the first calendar year following the Periodic Income Commencement Date. Subsequent Guaranteed Income Benefit Step-Up Dates will be the Valuation Date of the first Periodic Income Payment in the calendar year, every subsequent one-year period.

AUTOMATIC STEP-UP OF THE GUARANTEED INCOME BENEFIT (GUARANTEED INCOME BENEFIT STEP-UP). A Guaranteed Income Benefit Step-Up will occur on the Guaranteed Income Benefit Step-Up Date if (A) is greater than (B), where:

A
is the Periodic Income Payment determined under the Variable Annuity Payment Option Rider on the Guaranteed Income Benefit Step-Up Date multiplied by the Guaranteed Income Benefit Step-up Percentage shown on the Rider Specifications; and

B
is the Guaranteed Income Benefit on the Valuation Date immediately prior to the Guaranteed Income Benefit Step-Up Date.

On each Guaranteed Income Benefit Step-Up, the Protected Lifetime Income Fee rate may be adjusted pursuant to the PROTECTED LIFETIME INCOME FEE DURING THE GUARANTEED INCOME BENEFIT provision of this Rider. If the Protected Lifetime Income Fee rate is increased, the Owner may decline the Guaranteed Income Benefit Step-Up by Notice to Us within 30 days of the effective date of the Guaranteed Income Benefit Step-Up.

If the Owner does decline the Guaranteed Income Benefit Step-Up, upon Our receipt of Notice from the Owner:
(a)
the Guaranteed Income Benefit will be the Guaranteed Income Benefit on the Valuation Date immediately prior to the Guaranteed Income Benefit Step-Up Date, subject to adjustments for Withdrawals; and
(b)
the Protected Lifetime Income Fee rate will decrease to the Protected Lifetime Income Fee rate in effect on the Valuation Date immediately prior to the Guaranteed Income Benefit Step-Up Date; and
(c)
the Protected Lifetime Income Fee will decrease to the Protected Lifetime Income Fee in effect on the Valuation Date immediately prior to the Guaranteed Income Benefit Step-Up Date, subject to adjustments for Withdrawals.

If the Owner does not decline the Guaranteed Income Benefit Step-Up within 30 days of the effective date of the Guaranteed Income Benefit Step-Up, the Guaranteed Income Benefit Step-Up will be deemed accepted by the Owner.

Future Automatic Step-Ups of the Guaranteed Income Benefit will occur if the Owner has previously declined a Guaranteed Income Benefit Step-Up.

ADJUSTMENTS TO THE GUARANTEED INCOME BENEFIT. Each Withdrawal will reduce the Guaranteed Income Benefit in the same proportion as the amount taken reduces the Account Value on the Valuation Date of the Withdrawal. Payment of a Periodic Income Payment, whether equal to the Guaranteed Income Benefit or the Periodic Income Payment determined under the Variable Annuity Payment Option Rider, is not a Withdrawal and does not reduce the Guaranteed Income Benefit.

An increase in the length of the Access Period established under the Variable Annuity Payment Option Rider will not result in an adjustment to the Guaranteed Income Benefit. Any increase in the length of the Access Period is subject to a five-year minimum increase.

EFFECT OF THE PROTECTED LIFETIME INCOME FEE AND GUARANTEED INCOME BENEFIT DURING THE ACCESS PERIOD. During the Access Period established under the Variable Annuity Payment Option Rider, Protected Lifetime Income Fees and payment of the Periodic Income Payment whether equal to the Guaranteed Income Benefit or the Periodic Income Payment determined under the Variable Annuity Payment Option Rider, reduce the Account Value.

If the Account Value is reduced to $0, the Access Period will end and the Lifetime Income Period under the Variable Annuity Payment Option Rider will begin on the Valuation Date the Account Value equals $0. Each subsequent Periodic Income Payment during the Lifetime Income Period will be equal to the Guaranteed Income Benefit, each subsequent Protected Lifetime Income Fee will be $0, and the EFFECT OF GUARANTEED INCOME BENEFIT DURING THE LIFETIME INCOME PERIOD and the EFFECT OF THE PROTECTED LIFETIME INCOME FEE DURING THE LIFETIME INCOME PERIOD provisions of this Rider shall not apply.

EFFECT OF GUARANTEED INCOME BENEFIT DURING THE LIFETIME INCOME PERIOD. During the Lifetime Income Period established under the Variable Annuity Payment Option Rider, provided the Contract has not been assigned for value, if a Periodic Income Payment determined under the Variable Annuity Payment Option Rider is less than the Guaranteed Income Benefit, the excess of the Guaranteed Income Benefit attributable to the Variable Account over the Periodic Income Payment attributable to the Variable Account determined under the Variable Annuity Payment Option Rider will reduce the number of Annuity Units per Variable Subaccount payable in each subsequent Periodic Income Payment.

The reduction to the number of Annuity Units per payment will be determined by: (A) divided by (B) then the result further divided by (C), where:

A
is the amount of the excess of the Guaranteed Income Benefit attributable to the Variable Account over the Periodic Income Payment determined under the Variable Annuity Payment Option Rider attributable to the Variable Account; and

B
is the applicable Annuity Factor; and

C
is the Annuity Unit value as of the Valuation Date of the Periodic Income Payment.

During the Lifetime Income Period, if a Periodic Income Payment determined under the Variable Annuity Payment Option Rider is less than the Guaranteed Income Benefit, the excess of the Guaranteed Income Benefit attributable to the Fixed Account over the Periodic Income Payment attributable to the Fixed Account determined under the Variable Annuity Payment Option Rider will reduce the resulting annual amount determined for the Fixed Account payable in each subsequent Periodic Income Payment.

The reduction in the resulting annual amount determined for the Fixed Account (prior to multiplying by the Interest Adjustment Factor and dividing by the Daily Factor) will be determined by: (A) divided by (B), where:

A
is the amount of the excess of the Guaranteed Income Benefit attributable to the Fixed Account over the Periodic Income Payment attributable to the Fixed Account; and

B
is the applicable Annuity Factor.

If payment of the Guaranteed Income Benefit reduces the number of Annuity Units per Variable Subaccount to zero and the resulting annual amount determined for the Fixed Account to zero during the Lifetime Income Period, then each subsequent Periodic Income Payment during the remainder of the Lifetime Income Period will equal the Guaranteed Income Benefit. In addition, each subsequent Protected Lifetime Income Fee will be $0.

EFFECT OF THE PROTECTED LIFETIME INCOME FEE DURING THE LIFETIME INCOME PERIOD. The Protected Lifetime Income Fee attributable to each Variable Subaccount will reduce the number of Annuity Units per Variable Subaccount used to calculate the Periodic Income Payments during the Lifetime Income Period. The Protected Lifetime Income Fee attributable to the Fixed Account will reduce the Periodic Income Payments during the Lifetime Income Period.

If the Protected Lifetime Income Fee reduces both the number of Annuity Units per Variable Subaccount to zero and the resulting annual amount determined for the Fixed Account to zero during the Lifetime Income Period, then each subsequent Periodic Income Payment during the remainder of the Lifetime Income Period will equal the Guaranteed Income Benefit. In addition, each subsequent Protected Lifetime Income Fee will be $0.

QUALIFIED CONTRACTS – VARIABLE ACCOUNT. At the end of the Access Period and on the Valuation Date of the first Periodic Income Payment of each subsequent calendar year, the Annuity Units per Variable Subaccount will be reduced to reflect the Protected Lifetime Income Fee deduction from the Variable Subaccount.

The Annuity Units reduction reflecting the Protected Lifetime Income Fee for the period from the end of the Access Period to the end of that calendar year will be determined by (A) divided by (B) then the result divided by (C) where:

A
is the pro-rated annual Protected Lifetime Income Fee for the period from the end of the Access Period to the end of that calendar year; and

B
is the applicable Annuity Factor; and

C
is the Annuity Unit value as of the Valuation Date of the end of the Access Period.

On the Valuation Date of the first Periodic Income Payment of each subsequent calendar year, the Annuity Units per Variable Subaccount reduction reflecting the Protected Lifetime Income Fee will be determined by (A) divided by (B) then the result further divided by (C) where:

A
is the annual Protected Lifetime Income Fee; and

B
is the applicable Annuity Factor; and

C
is the Annuity Unit value for each Variable Subaccount as of the Valuation Date of the first Periodic Income Payment of that calendar year.

NONQUALIFIED CONTRACTS – VARIABLE ACCOUNT. At the end of the Access Period and each Periodic Income Commencement Date anniversary, the Annuity Units per Variable Subaccount will be reduced to reflect the Protected Lifetime Income Fee deduction from the Variable Subaccount. This reduction will be determined by (A) divided by (B) then the result further divided by (C) where:

A
is the annual Protected Lifetime Income Fee; and

B
is the applicable Annuity Factor; and

C
is the Annuity Unit value as of the Valuation Date of the first Periodic Income Payment and each subsequent anniversary.

QUALIFIED CONTRACTS – FIXED ACCOUNT. At the end of the Access Period and on the Valuation Date of the first Periodic Income Payment of each subsequent calendar year, the resulting annual amount determined for the Fixed Account, prior to being converted into the Periodic Income Payments, will be reduced to reflect the Protected Lifetime Income Fee deduction from the Fixed Account.

At the end of the Access Period, the reduction in the resulting annual amount determined for the Fixed Account (prior to multiplying by the Interest Adjustment Factor and dividing by the Daily Factor) reflecting the Protected Lifetime Income Fee for the period from the end of the Access Period for the remainder of that calendar year will be determined by (A) divided by (B), where:

A
is the pro-rated annual Protected Lifetime Income Fee for the period from the end of the Access Period for the remainder of that calendar year; and

B
is the applicable Annuity Factor.

On the Valuation Date of the first Periodic Income Payment of each subsequent calendar year, the reduction in the resulting annual amount determined for the Fixed Account (prior to being converted into the Periodic Income Payments) reflecting the Protected Lifetime Income Fee will be determined by (A) divided by (B), where:

A
is the annual Protected Lifetime Income Fee; and

B
is the applicable Annuity Factor.

NONQUALIFIED CONTRACTS – FIXED ACCOUNT. At the end of the Access Period and each Periodic Income Commencement Date anniversary, the resulting annual amount determined for the Fixed Account (prior to being converted into the Periodic Income Payments) will be reduced to reflect the Protected Lifetime Income Fee deduction from the Fixed Account. This reduction will be determined by (A) divided by (B), where:

A
is the annual Protected Lifetime Income Fee; and

B
is the applicable Annuity Factor.

PROTECTED LIFETIME INCOME FEE

The Initial Annual Protected Lifetime Income Fee Rate shown on the Rider Specifications is divided by four to calculate the initial quarterly Protected Lifetime Income Fee rate. The Protected Lifetime Income Fee rate may change, but the annual Protected Lifetime Income Fee rate will never exceed the Guaranteed Maximum Annual Protected Lifetime Income Fee Rate shown on the Rider Specifications.

At any time 10 years after the Rider Date, We reserve the right to review and adjust the current Protected Lifetime Income Fee rate. The review will occur no more frequently than once annually and any decision to adjust the Protected Lifetime Income Fee rate will be at Our discretion, subject to the Guaranteed Maximum Protected Lifetime Income Fee Rate shown on the Rider Specifications.

If the adjustment results in an increase to the Protected Lifetime Income Fee rate, the Owner may decline the increase by Notice to Us within 30 days of the effective date of the increase. If the Owner does not decline the increase within 30 days of the effective date of the increase, it will be deemed accepted by the Owner. The Owner will not be eligible for future Account Value lock ins, Enhancements or Guaranteed Income Benefit Step-Ups after declining such increase.

DETERMINING THE QUARTERLY PROTECTED LIFETIME INCOME FEE. Prior to the Periodic Income Commencement Date, a quarterly Protected Lifetime Income Fee is deducted from the Contract Value on each quarterly anniversary of the Rider Date. If the day is not a Valuation Date, and a Protected Lifetime Income Fee is due, that fee will be deducted on the first Valuation Date following such calendar day. The amount of the quarterly Protected Lifetime Income Fee is the quarterly Protected Lifetime Income Fee rate multiplied by the Protected Income Base, prior to any Rider Date Anniversary adjustment, on the Valuation Date the fee is deducted.

Quarterly Protected Lifetime Income Fees will be deducted from each Variable Subaccount and Fixed Account, if any, on a proportional basis. Upon election of the GUARANTEED INCOME BENEFIT provision, a pro-rata Protected Lifetime Income Fee will be deducted on the Periodic Income Commencement Date.

ADJUSTMENTS TO THE PROTECTED LIFETIME INCOME FEE RATE ON A RIDER DATE ANNIVERSARY. Prior to the Periodic Income Commencement Date, the Protected Lifetime Income Fee rate will change on a Rider Date Anniversary due to:
(a)
an additional Purchase Payment approved and added to the Contract in the Benefit Year preceding the applicable Rider Date Anniversary, if the cumulative Purchase Payments approved and added to the Contract after the first Benefit Year equals or exceeds the Additional Purchase Payment Restriction Limit shown on the Rider Specifications; or
(b)
an Account Value lock in pursuant to the ACCOUNT VALUE LOCK IN provision of this Rider; or
(c)
Our annual review of the current Protected Lifetime Income Fee rate at any time 10 years after the Rider Date.

PROTECTED LIFETIME INCOME FEE ON AND AFTER THE PERIODIC INCOME COMMENCEMENT DATE

During the Access Period, the quarterly Protected Lifetime Income Fee is deducted from the Account Value on each quarterly anniversary following the Periodic Income Commencement Date. The amount of the first quarterly Protected Lifetime Income Fee is (A) multiplied by the greater of (B) and (C), where:

(A)
is the quarterly Protected Lifetime Income Fee rate immediately prior to the Periodic Income Commencement Date; and

(B)
is the Protected Income Base on the Valuation Date immediately prior to the Periodic Income Commencement Date; and

(C)
is the Contract Value on the Valuation Date immediately prior to the Periodic Income Commencement Date.

The quarterly Protected Lifetime Income Fee is deducted from each Variable Subaccount and Fixed Account, if any, on a proportional basis. A pro-rata quarterly Protected Lifetime Income Fee will be deducted upon termination of the Variable Annuity Payment Option Rider and the GUARANTEED INCOME BENEFIT provision, except if this Rider is terminated due to death.

Upon each Withdrawal, the quarterly Protected Lifetime Income Fee will be reduced in the same proportion that the Withdrawal reduced the Account Value.

ADJUSTMENTS TO THE PROTECTED LIFETIME INCOME FEE RATE ON AND AFTER THE PERIODIC INCOME COMMENCEMENT DATE. On and after the Periodic Income Commencement Date, the Protected Lifetime Income Fee rate may change due to:
(a)
Our annual review of the current Protected Lifetime Income Fee rate at any time 10 years after the Rider Date; or
(b)
a Guaranteed Income Benefit Step-Up. On each Guaranteed Income Benefit Step-Up, the Protected Lifetime Income Fee rate will be changed to the Protected Lifetime Income Fee rate currently in effect, subject to the Guaranteed Maximum Annual Protected Lifetime Income Fee Rate shown on the Rider Specifications. Any Protected Lifetime Income Fee rate adjustment will change the quarterly Protected Lifetime Income Fee and will be effective on the applicable Guaranteed Income Benefit Step-Up Date.

An adjustment to the Protected Lifetime Income Fee upon a Guaranteed Income Benefit Step-Up is determined by (A) multiplied by (B) multiplied by (C), where:

A
is the prior Protected Lifetime Income Fee; and

B
is the new Guaranteed Income Benefit divided by the prior Guaranteed Income Benefit; and

C
is the new Protected Lifetime Income Fee rate divided by the prior Protected Lifetime Income Fee rate.

During the Lifetime Income Period, the Protected Lifetime Income Fee shall be deducted annually as described in the EFFECT OF PROTECTED LIFETIME INCOME FEE DURING LIFETIME INCOME PERIOD provision of this Rider. The Protected Lifetime Income Fee will be attributed pro-rata to the Fixed Account, if any, and each Variable Subaccount used to calculate the Periodic Income Payments.

GENERAL

MORTALITY AND EXPENSE RISK AND ADMINISTRATIVE CHARGE. While this Rider is in force and prior to the effective date of the Lifetime Income Period of the GUARANTEED INCOME BENEFIT provision and the Variable Annuity Payment Option Rider are in effect, the Mortality and Expense Risk and Administrative Charge rates for the Contract are shown under Mortality And Expense Risk And Administrative Charge Prior To The Annuity Commencement Date on the Contract Specifications.

While the Lifetime Income Period of the GUARANTEED INCOME BENEFIT provision and the Variable Annuity Payment Option Rider are in effect, the Mortality and Expense Risk and Administrative Charge rates for the Contract shall be less than or equal to those that were applicable while the Access Period was in effect.

TERMINATION OF THIS RIDER. The Owner may terminate this Rider upon Notice to Us any time after the Rider Termination Period shown on the Rider Specifications. Otherwise, this Rider will terminate upon the earliest of the following event to occur:
(a)
the date the Contract to which this Rider is attached terminates; or
(b)
the date the Annuitant is changed, except when the Secondary Life is named the Annuitant upon death of the original Annuitant under the Joint Measuring Life option; or
(c)
the Annuity Commencement Date of the Contract to which this Rider is attached; or
(d)
the death of the Annuitant if the Measuring Life Option is Single, or on the death of the last surviving Measuring Life if the Measuring Life Option is Joint; or
(e)
the date the Owner sells or assigns for value the Contract other than to the Annuitant, or discounts or pledges it as collateral for a loan or as a security for the performance of an obligation or any other purpose; or
(f)
the death of the Owner prior to the Periodic Income Commencement Date. However, this Rider will continue only if one of the existing Measuring Lives is the new Owner and payments under the Variable Annuity Payment Option Rider begin within one year of the death of the Owner. The new Owner will be the sole Measuring Life and the Protected Lifetime Income Fee will not change. The Death Benefit provisions in the Contract apply upon the death of the Owner; or
(g)
the date the Protected Income Base is equal to $0 as the result of Withdrawal(s); or
(h)
the date all Measuring Lives are age 99 for Non-qualified contracts or age 85 for Qualified contracts if the Variable Annuity Payment Option Rider has not been elected and the GUARANTEED INCOME BENEFIT provision of this Rider is not effective.

After the Periodic Income Commencement Date, the Variable Annuity Payment Option Rider will also terminate on the date this Rider terminates.

Upon termination of this Rider, the benefits and fees within this Rider will terminate. A pro-rata Protected Lifetime Income Fee will be deducted upon termination, except if this Rider is terminated due to death.



THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Lincoln Life Variable Annuity Account N

ChoicePlusSM Signature 1

Supplement dated  _______, 2022 to the Summary Prospectus for New Investors dated May 1, 2022

This supplement to the summary prospectus for your individual variable annuity contract describes the Lincoln ProtectedPaySM lifetime income suite, available for purchase beginning ________, 2022 (subject to state approval). This supplement is for informational purposes and requires no action on your part.

OVERVIEW

Lincoln ProtectedPaySM is a suite of optional riders that provide accumulation through:
Guaranteed lifetime periodic withdrawals for you (and your spouse if the joint life option is selected) up to the Protected Annual Income amount which is based upon a Protected Income Base;
An Enhancement amount added to the Protected Income Base if certain criteria are met, as set forth below;
Account Value Step-ups of the Protected Income Base to the Contract Value if the Contract Value is equal to or greater than the Protected Income Base after the Enhancement; and
Age-based increases to the Protected Annual Income amount (after reaching a higher age-band and after an Account Value Step-up).
The rider suite provides flexible investment and income choices to meet your individual needs by offering six different options, which are described later in detail.

Lincoln ProtectedPaySM is available for election on all new and existing nonqualified and qualified (IRAs and Roth IRAs) annuity contracts. The Contractowner/Annuitant as well as the spouse under the joint life option must be age 85 or younger at the time the rider is elected. The initial Purchase Payment or Contract Value (if elected after the contract is issued) must be at least $25,000. Rider elections are subject to Home Office approval if your Contract Value totals $2 million or more.
If you purchase a Lincoln ProtectedPaySM rider, you will be required to adhere to Investment Requirements, which will limit your ability to invest in certain Subaccounts offered in your Contract. Certain rider options have more restrictive Investment Requirements than others. In addition, the fixed account is not available except for use with dollar cost averaging.

DESCRIPTION OF CHANGES

The following discussion describes changes that are incorporated into the specified sections of your summary prospectus.
Special Terms – The following term is added to the Special Terms section:
Enhancement Value: A value to which the Protected Income Base will increase, subject to certain conditions and limitations.
mportant Information About Your Contract – The following line item replaces the current line item on the Minimum and Maximum Annual Fee Table:

 
Minimum
Maximum
Optional benefits available for an additional charge (for a single optional benefit, if elected)
0.40%
2.75%

Benefits Available Under the Contract. The following entry is added to the Benefits Available Under the Contract table under Optional Benefits – Available for Election.

Name of Benefit
Purpose
Maximum Fee
Brief Description of Restrictions/ Limitations
Lincoln ProtectedPaySM
Provides:
•Varying income options.
•Guaranteed lifetime periodic withdrawals.
•An Enhancement to the Protected Income Base.
•Account Value Step-ups of the Protected Income Base.
•Age-based increases to the Protected Annual Income amount.
2.75% Single and Joint Life Options
(as a percentage of the Protected Income Base)
•Investment Requirements apply.
•Excess Withdrawals could significantly reduce or terminate the benefit.
•Any withdrawal may negatively impact or eliminate the potential for enhancements or step-ups.
•Subject to a $10 million maximum Protected Income Base across all Living Benefit Riders.
•Purchase Payments and step-ups may increase fee rate.
•Additional Purchase Payments may be limited.

Fee TablesAnnual Contract Expenses. The following entry is added to the Annual Contract Expenses Table under Optional Benefit Expenses:

 
Single Life
Joint Life
Lincoln ProtectedPaySM *
   
Guaranteed Maximum Annual Charge ………………………………
2.75%
2.75%

*As an annualized percentage of the Protected Income Base, as increased by subsequent Purchase Payments and decreased by Excess Withdrawals This charge is deducted from the Contract Value on a quarterly basis. The current rider charge rate will be less than or equal to the stated maximum charge rate and will be disclosed in a Rate Sheet prospectus supplement.

Fee Tables – ExamplesThe following Example is added to your summary prospectus.

The following Example is intended to help you compare the cost of investing in the contract with the cost of investing in other variable annuity contracts. These costs include transaction expenses, contract fees, annual contract expenses, and annual fund fees and expenses. The Example has been calculated using the fees and expenses of the funds prior to the application of any contractual waivers and/or reimbursements.

The Example assumes that you invest $100,000 in the contract for the time periods indicated. The Example also assumes that your investment has a 5% return each year, the maximum fees and expenses of any of the funds and that the EGMDB Death Benefit and Lincoln ProtectedPay® at the guaranteed maximum charge are in effect. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
1)
If you surrender your contract at the end of the applicable time period:
 
1 year
 
3 years
 
5 years
 
10 years
 
 
XX
 
XX
 
XX
 
XX
 

2)
If you annuitize or do not surrender your contract at the end of the applicable time period:
 
1 year
 
3 years
 
5 years
 
10 years
 
 
XX
 
XX
 
XX
 
XX
 

Appendix B – Investment Requirements. The following section is added to Appendix B and outlines the Investment Requirements that apply to purchasers of Lincoln ProtectedPaySM.

Under the current Investment Requirements for Lincoln ProtectedPaySM Secure Core, Lincoln ProtectedPaySM Secure Plus, and Lincoln ProtectedPaySM Secure Max, you must allocate your Contract Value as follows:

Group 1
Investments must be at least 20% of Contract Value
 
JPMorgan Insurance Trust Core Bond Portfolio
LVIP PIMCO Low Duration Bond Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP SSGA Bond Index Fund
LVIP Delaware Bond Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP Vanguard Bond Allocation Fund
LVIP Delaware Diversified Income Fund
LVIP Western Asset Core Bond Fund
LVIP Delaware Limited-Term Diversified Income Fund
 
Group 2
Investments cannot exceed 80% of Contract Value
LVIP American Century Select Mid Cap Managed Volatility Fund
LVIP Global Conservative Allocation Managed Risk Fund
LVIP BlackRock Dividend Value Managed Volatility Fund
LVIP Global Growth Allocation Managed Risk Fund
LVIP BlackRock Global Allocation Managed Risk Fund
LVIP Global Moderate Allocation Managed Risk Fund
LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund
LVIP Invesco Select Equity Income Managed Volatility Fund
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund
LVIP JPMorgan Select Mid Cap Value Managed Volatility Fund
LVIP Blended Large Cap Growth Managed Volatility Fund
LVIP MFS International Equity Managed Volatility Fund
LVIP Blended Mid Cap Managed Volatility Fund
LVIP Multi-Manager Global Equity Managed Volatility Fund
LVIP ClearBridge Franklin Select Large Cap Managed Volatility Fund
LVIP SSGA Global Tactical Allocation Managed Volatility Fund
LVIP Dimensional International Equity Managed Volatility Fund
LVIP SSGA International Managed Volatility Fund
LVIP Dimensional U.S. Equity Managed Volatility Fund
LVIP SSGA Large Cap Managed Volatility Fund
LVIP Fidelity Institutional AM ® Select Core Equity Managed Volatility Fund
LVIP SSGA SMID Cap Managed Volatility Fund
LVIP Franklin Templeton Global Equity Managed Volatility Fund
LVIP U.S. Aggressive Growth Allocation Managed Risk Fund
LVIP Global Aggressive Growth Allocation Managed Risk Fund
LVIP U.S. Growth Allocation Managed Risk Fund
Group 3
Investments cannot exceed 10% of Contract Value
No Subaccounts at this time.
 

The fixed account is only available for dollar cost averaging.

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

JPMorgan Insurance Trust Core Bond Portfolio
LVIP Global Growth Allocation Managed Risk Fund
LVIP BlackRock Global Allocation Managed Risk Fund
LVIP Global Moderate Allocation Managed Risk Fund
LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund
LVIP PIMCO Low Duration Bond Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP SSGA Bond Index Fund
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund
LVIP SSGA Global Tactical Allocation Managed Volatility Fund
LVIP Delaware Bond Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP U.S. Aggressive Growth Allocation Managed Risk Fund
LVIP Delaware Diversified Income Fund
LVIP U.S. Growth Allocation Managed Risk Fund
LVIP Delaware Limited-Term Diversified Income Fund
LVIP Vanguard Bond Allocation Fund
LVIP Global Aggressive Growth Allocation Managed Risk Fund
LVIP Western Asset Core Bond Fund
LVIP Global Conservative Allocation Managed Risk Fund
 

Under the current Investment Requirements for Lincoln ProtectedPaySM Select Core, Lincoln ProtectedPaySM Select Plus, and Lincoln ProtectedPaySM Select Max, you must allocate your Contract Value as follows:


Group 1
Investments must be at least 20% of Contract Value
 
JPMorgan Insurance Trust Core Bond Portfolio
LVIP PIMCO Low Duration Bond Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP SSGA Bond Index Fund
LVIP Delaware Bond Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP Vanguard Bond Allocation Fund
LVIP Delaware Diversified Income Fund
LVIP Western Asset Core Bond Fund
LVIP Delaware Limited-Term Diversified Income Fund
 
Group 2
Investments cannot exceed 80% of Contract Value
AB VPS Small/Mid Cap Value Portfolio
LVIP Global Aggressive Growth Allocation Managed Risk Fund
American Century VP Balanced Fund
LVIP Global Conservative Allocation Managed Risk Fund
American Century VP Large Company Value Fund
LVIP Global Growth Allocation Managed Risk Fund
ClearBridge Variable Large Cap Growth Portfolio
LVIP Global Moderate Allocation Managed Risk Fund
Delaware VIP ® Small Cap Value Series
LVIP Government Money Market Fund
Fidelity ® VIP Balanced Portfolio
LVIP JPMorgan High Yield Fund
Fidelity ® VIP Contrafund ® Portfolio
LVIP JPMorgan Retirement Income Fund
Fidelity ® VIP FundsManager ® 50% Portfolio
LVIP MFS International Growth Fund
Fidelity ® VIP Mid Cap Portfolio
LVIP MFS Value Fund
First Trust Capital Strength Portfolio
LVIP Mondrian International Value Fund
First Trust/Dow Jones Dividend & Income Allocation Portfolio
LVIP SSGA Conservative Index Allocation Fund
Franklin Allocation VIP Fund
LVIP SSGA Conservative Structured Allocation Fund
Franklin Income VIP Fund
LVIP SSGA Developed International 150 Fund
Franklin Multi-Asset Variable Conservative Growth Fund
LVIP SSGA Global Tactical Allocation Managed Volatility Fund
Franklin Mutual Shares VIP Fund
LVIP SSGA International Index Fund
Invesco V.I. Equally-Weighted S&P 500 Fund
LVIP SSGA Large Cap 100 Fund
Invesco V.I. EQV International Equity Fund
LVIP SSGA Mid-Cap Index Fund
JPMorgan Insurance Trust Global Allocation Portfolio
LVIP SSGA Moderate Index Allocation Fund
LVIP American Global Growth Fund
LVIP SSGA Moderate Structured Allocation Fund
LVIP American Growth Fund
LVIP SSGA Moderately Aggressive Index Allocation Fund
LVIP American Growth-Income Fund
LVIP SSGA Moderately Aggressive Structured Allocation Fund
LVIP American International Fund
LVIP SSGA S&P 500 Index Fund
LVIP Baron Growth Opportunities Fund
LVIP SSGA Small-Cap Index Fund
LVIP BlackRock Global Allocation Fund
LVIP SSGA Small-Mid Cap 200 Fund
LVIP BlackRock Global Allocation Managed Risk Fund
LVIP T. Rowe Price Structured Mid-Cap Growth Fund
LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund
LVIP U.S. Aggressive Growth Allocation Managed Risk Fund
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund
LVIP U.S. Growth Allocation Managed Risk Fund
LVIP Delaware Mid Cap Value Fund
LVIP Vanguard Domestic Equity ETF Fund
LVIP Delaware Social Awareness Fund
LVIP Vanguard International Equity ETF Fund
LVIP Delaware U.S. Growth Fund
LVIP Wellington SMID Cap Value Fund
LVIP Delaware Value Fund
MFS ® VIT Growth Series
LVIP Delaware Wealth Builder Fund
MFS ® VIT Total Return Series
LVIP Dimensional International Core Equity Fund
Putnam VT George Putnam Balanced Fund
LVIP Dimensional U.S. Core Equity 1 Fund
Putnam VT Large Cap Value Fund
LVIP Dimensional U.S. Core Equity 2 Fund
 

The fixed account is only available for dollar cost averaging.

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

American Century VP Balanced Fund
LVIP Global Growth Allocation Managed Risk Fund
Fidelity® VIP Balanced Portfolio
LVIP Global Moderate Allocation Managed Risk Fund
Fidelity® VIP FundsManager® 50% Portfolio
LVIP JPMorgan Retirement Income Fund
First Trust/Dow Jones Dividend & Income Allocation Portfolio
LVIP PIMCO Low Duration Bond Fund
Franklin Allocation Fund
LVIP SSGA Bond Index Fund
Franklin Multi-Asset Variable Conservative Growth Fund
LVIP SSGA Conservative Index Allocation Fund
JPMorgan Insurance Trust Core Bond Portfolio
LVIP SSGA Conservative Structured Allocation Fund
LVIP BlackRock Global Allocation Fund
LVIP SSGA Global Tactical Allocation Managed Volatility Fund
LVIP BlackRock Global Allocation Managed Risk Fund
LVIP SSGA Moderate Index Allocation Fund
LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund
LVIP SSGA Moderate Structured Allocation Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP SSGA Moderately Aggressive Index Allocation Fund
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund
LVIP SSGA Moderately Aggressive Structured Allocation Fund
LVIP Delaware Bond Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP U.S. Aggressive Growth Allocation Managed Risk Fund
LVIP Delaware Diversified Income Fund
LVIP U.S. Growth Allocation Managed Risk Fund
LVIP Delaware Limited-Term Diversified Income Fund
LVIP Vanguard Bond Allocation Fund
LVIP Delaware Wealth Builder Fund
LVIP Western Asset Core Bond Fund
LVIP Global Aggressive Growth Allocation Managed Risk Fund
MFS® VIT Total Return Series
LVIP Global Conservative Allocation Managed Risk Fund
Putnam VT George Putnam Balanced Fund

Additionally, Contract Value may be allocated in accordance with certain asset allocation models made available to you by your broker-dealer. If so, currently 100% of the Contract Value can be allocated to one of the following models: Active-Passive Global Growth Allocation Model, Dimensional/Vanguard Moderate Allocation Model, Dimensional/Vanguard Global Growth Allocation Model, Multi-Manager Domestic Growth Allocation Model or Multi-Manager Moderate Allocation Model.  You may only choose 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.

Please keep this supplement for future reference.




Lincoln ChoicePlusSM Signature 1
Individual Variable Annuity Contracts
Summary Prospectus for New Investors
May 1, 2022
This summary prospectus summarizes key features of the Lincoln ChoicePlusSM Signature 1 variable annuity contract, issued by The Lincoln National Life Insurance Company (Lincoln Life or Company).
Before you invest, you should also review the prospectus for the Lincoln ChoicePlusSM Signature 1 variable annuity contract, which contains more information about the Contract’s features, benefits, and risks. You can find this prospectus and other information about the Contract online at www.lfg.com/VAprospectus. You can also obtain this information at no cost by calling 1-888-868-2583 or by sending an email request to [email protected]
YOU MAY CANCEL YOUR CONTRACT WITHIN THE FREE LOOK PERIOD WITHOUT PAYING FEES OR PENALTIES.
In some states, this “free look” or cancellation period may be longer under certain scenarios. Upon cancellation, you will receive either a full refund of the amount you paid with your application or your total Contract Value. You should review the prospectus, or consult with your investment professional, for additional information about the specific cancellation terms that apply.
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. If you wish to receive future shareholder reports in paper, free of charge, please call us at 1-888-868-2583, send an email request to [email protected], or contact your registered representative. Your election to receive reports in paper will apply to all funds available under your Contract. This prospectus gives you information about the Contract that you should know before you decide to buy a Contract and make a Purchase Payment. You should also review the prospectus for the funds and keep all prospectuses for future reference.
1

Table of Contents
Item
Page
Special Terms
3
Important Information You Should Consider About the Lincoln ChoicePlusSM Signature 1 Variable Annuity Contract
4
Overview of the Contract
6
Benefits Available Under the Contract
7
Buying the Contract
10
Making Withdrawals: Accessing the Money in Your Contract
11
Additional Information About Fees
12
Fee Tables
12
Appendix A Funds Available Under The Contract
A-1
Appendix B — Investment Requirements
B-1
2

Special Terms
In this initial summary prospectus, the following terms have the indicated meanings:
Access Period—Under i4LIFE® Advantage, a defined period of time during which we make Regular Income Payments to you while you still have access to your Account Value. This means that you may make withdrawals, surrender the Contract, and have a Death Benefit.
Account Value—Under i4LIFE® Advantage, the initial Account Value is the Contract Value on the Valuation Date that i4LIFE® Advantage is effective (or initial Purchase Payment if i4LIFE® Advantage is purchased at contract issue), less any applicable premium taxes. During the Access Period, the Account Value on a Valuation Date equals the total value of all of the Contractowner's Accumulation Units plus the Contractowner's value in the fixed account, reduced by Regular Income Payments, Guaranteed Income Benefit payments and withdrawals.
Annuitant—The person upon whose life the annuity benefit payments are based, and upon whose death a Death Benefit may be paid.
Beneficiary—The person you choose to receive any Death Benefit paid if you die before the Annuity Commencement Date.
Contract—The variable annuity contract you have entered into with Lincoln Life.
Contractowner (you, your, owner)—The person who can exercise the rights within the Contract (decides on investment allocations, transfers, payout option, designates the Beneficiary, etc.). Usually, but not always, the Contractowner is the Annuitant.
Contract Value (may be referred to as Account Value in marketing materials)—At any given time before the Annuity Commencement Date, the total value of all Accumulation Units of a Contract, plus the value of the fixed side of the contract, if any.
Contract Year—Each 12-month period starting with the effective date of the Contract and starting with each contract anniversary after that.
Death Benefit—Before the Annuity Commencement Date, the amount payable to your designated Beneficiary if the Contractowner dies. As an alternative, the Contractowner may receive a Death Benefit on the death of the Annuitant prior to the Annuity Commencement Date.
Enhancement—A feature under certain Living Benefit Riders in which the Protected Income Base, minus Purchase Payments received in the preceding Benefit Year, will be increased, subject to certain conditions and limitations.
Good Order—The actual receipt at our Home Office of the requested transaction in writing or by other means we accept,
along with all information and supporting legal documentation necessary to complete the transaction. The forms we provide will identify the necessary documentation. We may, in our sole discretion, determine whether any particular transaction request is in Good Order, and we reserve the right to change or waive any Good Order requirements at any time.
Investment Requirements—Restrictions in how you may allocate your Subaccount investments if you own certain Living Benefit Riders.
Lifetime Income Period—Under i4LIFE® Advantage, the period of time following the Access Period during which we make Regular Income Payments to you for the rest of your life (and Secondary Life, if applicable). During the Lifetime Income Period, you will no longer have access to your Account Value or receive a Death Benefit.
Living Benefit Rider—A general reference to optional riders that provide some type of a minimum income guarantee while you are alive. If you select a Living Benefit Rider, Excess Withdrawals may have adverse effects on the benefit, and you may be subject to Investment Requirements.
Purchase Payments—Amounts paid into the Contract.
Rate Sheet—A prospectus supplement, that will be filed periodically, where we declare the current withdrawal rates or Guaranteed Income Benefit percentages under certain Living Benefit Riders.
Selling Group Individuals—A Contractowner who meets one of the following criteria at the time of the contract purchase and who purchases the Contract without the assistance of a registered representative under contract with us:
Employees and registered representatives of any member of the selling group (broker-dealers who have selling agreements with us for this product) and their spouses and minor children.
Officers, directors, trustees or bona-fide full-time employees and their spouses and minor children of Lincoln Financial Group or any of the investment advisers of the funds currently being offered, or their affiliated or managed companies.
Subaccount—Each portion of the VAA that reflects investments in Accumulation and Annuity Units of a class of a particular fund available under the contracts. There is a separate Subaccount which corresponds to each class of a fund.
3

Important Information You Should Consider About the Lincoln ChoicePlusSM Signature 1 Variable Annuity Contract
 
FEES AND EXPENSES
Location in
Prospectus
Charges for Early
Withdrawals
If you make a withdrawal in excess of the free withdrawal amount before the 7th
anniversary since your last Purchase Payment, you may be assessed a surrender charge
of up to 7% of the amount withdrawn, declining to 0% over that time period. For
example, if you 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.
Fee Tables
Examples
Charges and
Other
Deductions –
Surrender
Charge
Transaction
Charges
None, other than surrender charges.
Charges and
Other
Deductions
Ongoing Fees and
Expenses (annual
charges)
Minimum and Maximum Annual Fee Table. The table below describes the fees and
expenses that you may pay each year, depending on the options you choose. Please
refer to your contract specifications page for information about the specific fees you will
pay each year based on the options you have elected.
Fee Tables
Examples
Charges and
Other
Deductions
Annual Fee
Minimum
Maximum
Base Contract – Account Value Death
Benefit
1.27%1
1.27%1
Base Contract – Guarantee of Principal
Death Benefit
1.32%1
1.32%1
Base Contract – Enhanced Guaranteed
Minimum Death Benefit
1.57%1
1.57%1
Investment options (fund fees and
expenses)
0.48%1
1.88%1
Optional benefits available for an
additional charge (for a single optional
benefit, if elected)
0.40% 1
2.45% 2
1 As a percentage of average Account Value in the Subaccounts.
2 As an annualized percentage of the Protected Income Base.
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. This estimate assumes that you do not take withdrawals from the
Contract, which could add surrender charges that substantially increase costs.
 
Lowest Annual Cost: $2,041
Highest Annual Cost: $6,249
 
 
Assumes:
Assumes:
 
 
Investment of $100,000
5% annual appreciation
Least expensive 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
optional benefits, fund fees and
expenses
No surrender charges
No additional Purchase Payments,
transfers, or withdrawals
 
4

 
RISKS
Location in
Prospectus
Risk of Loss
You can lose money by investing in this Contract, including loss of principal.
Principal Risks
Investments of
the Variable
Annuity
Account
Not a Short-Term
Investment
This Contract is not designed for short-term investing and may not be appropriate for
the investor who needs ready access to cash.
Withdrawals may result in surrender charges. If you take a withdrawal, 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 also
mean the Contract is more beneficial to investors with a long-term investment
horizon.
Principal Risks
Surrender and
Withdrawals
Fee Tables
Charges and
Other
Deductions
Living Benefit
Riders
Risks Associated
with 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 investment options before making an investment decision.
Principal Risks
Investments of
the Variable
Annuity
Account
Insurance
Company Risks
An investment in the Contract is subject to the risks related to us. 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
 
RESTRICTIONS
Location in
Prospectus
Investments
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.
We reserve the right to remove or substitute any funds as investment options that
are available under the Contract.
Principal Risks
Investments of
the Variable
Annuity
Account
Optional Benefits
Optional benefits may limit or restrict the investment options that you may select
under the Contract. We may change these restrictions in the future.
Excess Withdrawals may reduce the value of an optional benefit by an amount
greater than the value withdrawn or result in termination of the benefit.
You are required to have a certain level of Contract Value for some new rider
elections.
We may modify or stop offering an optional benefit that is currently available at any
time.
If you elect certain optional benefits, you may be limited in the amount of Purchase
Payments that you can make (and when).
The Contracts
Living Benefit
Riders
Appendix B –
Investment
Requirements
Appendix C —
Discontinued
Death Benefit
and Living
Benefit Riders
 
TAXES
Location in
Prospectus
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 deferral under the Contract.
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.
Federal Tax
Matters
5

 
CONFLICTS OF INTEREST
Location in
Prospectus
Investment
Professional
Compensation
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 on this Contract 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
Principal Risks
Exchanges
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
Overview of the Contract
Purpose of the Contract
The Lincoln ChoicePlusSM Signature 1 variable annuity contract is designed to accumulate Contract Value and to provide income over a certain period of time or for life subject to certain conditions. The Contract can supplement your retirement income by providing a stream of income payments during the payout phase. The benefits offered under the Contract may be a variable or fixed amount, if available, or a combination of both. The Contract also offers a Death Benefit payable to your designated Beneficiaries upon the death of the Contractowner or Annuitant.
This Contract may be appropriate if you have a long-term investment horizon. It is not intended for people who may need to make early or frequent withdrawals or intend to engage in frequent trading in the Subaccounts.
Phases of the Contract
Your Contract has two phases: (1) an accumulation (savings) phase, prior to the Annuity Commencement Date; and (2) a payout (income) phase, after the Annuity Commencement Date.
Accumulation (Savings) Phase. To help you accumulate assets during the accumulation phase, you can invest your payments and earnings in:
The variable options available under the Contract, each of which has an underlying mutual fund with its own investment objective, strategies, and risks; investment adviser(s); expense ratio; and performance history; and
A fixed account option, if available, which guarantees principal and a minimum interest rate.
A list of funds in which you currently can invest is provided in an Appendix. Please see Appendix A: Funds Available Under the Contract.
Annuity (Income) Phase. You can elect to annuitize your Contract and turn your Contract Value into a stream of income payments (sometimes called Annuity Payouts), at which time the accumulation phase of the Contract ends. These payments may continue for a fixed period of years, for your entire life, or for the longer of a fixed period or your life. The payments may also be fixed or variable. Variable payments will vary based on the performance of the funds that you choose.
If you annuitize, your investments will be converted to income payments and you may no longer be able to choose to make withdrawals from your Contract. All benefits (including guaranteed minimum Death Benefits and living benefits) terminate upon annuitization.
However, several Living Benefit Riders offered under the Contract provide lifetime income payments that may be guaranteed, and still allow you to make withdrawals and be eligible for a Death Benefit. Withdrawals that exceed a Protected Income Amount are Excess Withdrawals that will reduce and could eliminate the income payments and other benefits of the rider, including access to a Death Benefit.
Primary Features and Options of the Contract
Accessing your money. During the Accumulation Phase you can surrender the Contract or withdraw part of the Contract Value. If you withdraw early, you may have to pay a surrender charge, an Interest Adjustment may apply and/or you may incur a tax penalty if you are younger than 59½.
Tax treatment. You can transfer money between investment options without tax implications, and earnings (if any) on your investments are generally tax-deferred. You are taxed only when: (1) you make a surrender or withdrawal; (2) you receive an income payment from the Contract; or (3) upon payment of a Death Benefit.
6

Death Benefits. Your Contract includes a Death Benefit that will be paid upon the death of either the Contractowner or the Annuitant. Optional Death Benefits that pay different amounts and have different fees may be available.
Optional Living Benefit Riders. For an additional fee, you may be able to purchase one of the Living Benefit Riders listed below. Each rider offers one of the following:
a minimum withdrawal benefit:
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk),
Lincoln Market Select® Advantage,
Lincoln Max 6 SelectSM Advantage,
a minimum Annuity Payout:
4LATER® Select Advantage; or
i4LIFE® Advantage with or without the Guaranteed Income Benefit (Managed Risk).
These Living Benefit Riders provide different methods to take income from your Contract Value or receive lifetime payments and provide certain guarantees, regardless of the investment performance of the Contract. These guarantees are subject to certain conditions, as set forth elsewhere in the prospectus.
There is no guarantee that any Living Benefit Rider (except i4LIFE® Advantage) will be available in the future, as we reserve the right to discontinue them at any time. Excess Withdrawals under certain Living Benefit Riders may result in a reduction or premature termination of those benefits or riders. If you purchase a Living Benefit Rider (except i4LIFE® Advantage without the Guaranteed Income Benefit), you will be required to adhere to Investment Requirements, which will limit your ability to invest in certain Subaccounts offered in your Contract. (These Investment Requirements are explained in Appendix B- Investment Requirements.)
Additional Services. The additional services listed below are available under the Contract for no additional charge (unless otherwise indicated).
Dollar-cost averaging (DCA) allows you to transfer amounts from the DCA fixed account, if available, or certain Subaccounts into other Subaccounts on a monthly basis or in accordance with other terms we make available.
Portfolio rebalancing is an option that restores to a pre-determined level the percentage of Contract Value allocated to each Subaccount.
Automatic Withdrawal Service (AWS) provides for an automatic periodic withdrawal of your Contract Value. Withdrawals under AWS are subject to applicable surrender charges and Interest Adjustments (as well as taxes and tax penalties).
Benefits Available Under the Contract
The following tables summarize information about the benefits available under the Contract. A detailed description of each benefit is available in the prospectus.
Standard Benefits
Name of Benefit
Purpose
Maximum Fee
Brief Description of Restrictions /
Limitations
Account Value Death
Benefit
Provides a Death Benefit equal to the
Contract Value.
1.25%
Poor investment performance could
significantly reduce the benefit.
Withdrawals could significantly reduce
the benefit.
Guarantee of Principal
Death Benefit
Provides a Death Benefit equal to the
greatest of (1) Contract Value; (2) all
Purchase Payments, adjusted for
withdrawals.
1.30%
Withdrawals could significantly reduce
the benefit.
Enhanced Guaranteed
Minimum Death
Benefit (EGMDB)
Provides a Death Benefit equal to the
greatest of (1) Contract Value; (2) all
Purchase Payments, adjusted for
withdrawals; (3) the highest Contract Value
on any contract anniversary prior to age 81
as adjusted for withdrawals.
1.55%
Not available if age 80 or older at the
time of issuance.
Withdrawals could significantly reduce
the benefit.
Poor investment performance could
significantly reduce and limit potential
increases to the highest Contract Value.
7

Standard Benefits
Name of Benefit
Purpose
Maximum Fee
Brief Description of Restrictions /
Limitations
Dollar-Cost Averaging
Allows you to automatically transfer
amounts between certain investment
options on a monthly basis.
None
Minimum amount to be dollar cost
averaged is $1,500 over any time period
between 3 and 60 months.
Cannot be used simultaneously with
portfolio rebalancing.
Portfolio Rebalancing
Allows you to automatically reallocate your
Contract Value among investment options
on a periodic basis based on your standing
allocation instructions.
None
Cannot be used simultaneously with
dollar cost averaging.
Automatic Withdrawal
Service
Allows you to take periodic withdrawals
from your Contract automatically.
None
Automatically terminates once i4LIFE®
Advantage begins.
Optional Benefits – Available for Election
Name of Benefit
Purpose
Maximum Fee
Brief Description of Restrictions /
Limitations
Lincoln Lifetime
IncomeSM Advantage
2.0 (Managed Risk)
Provides:
Guaranteed lifetime periodic withdrawals;
An Enhancement to the Protected
Income Base;
Account Value Step-ups of the Protected
Income Base;
Age-based increases to the Protected
Annual Income amount; and
Nursing Home Enhancement.
2.25% Single Life
Option
2.45% Joint Life
Option
(as a percentage of
the Protected
Income Base)
Investment Requirements apply.
Excess Withdrawals could significantly
reduce or terminate the benefit.
Any withdrawal may negatively impact or
eliminate the potential for enhancements
or step-ups.
Subject to a $10 million maximum
Protected Income Base across all Living
Benefit Riders.
Purchase Payments and step-ups may
increase fee rate.
Additional Purchase Payments may be
limited.
Lincoln Market
Select® Advantage
Provides:
Guaranteed lifetime periodic withdrawals;
An Enhancement to the Protected
Income Base;
Account Value Step-ups of the Protected
Income Base; and
Age-based increases to the Protected
Annual Income amount.
2.25% Single Life
Option
2.45% Joint Life
Option
(as a percentage of
the Protected
Income Base)
Investment Requirements apply.
Excess Withdrawals could significantly
reduce or terminate the benefit.
Any withdrawal may negatively impact or
eliminate the potential for enhancements
or step-ups.
Subject to a $10 million maximum
Protected Income Base across all Living
Benefit Riders.
Purchase Payments and step-ups may
increase fee rate.
Additional Purchase Payments may be
limited.
8

Optional Benefits – Available for Election
Name of Benefit
Purpose
Maximum Fee
Brief Description of Restrictions /
Limitations
Lincoln Max 6
SelectSM Advantage
Provides:
Guaranteed lifetime periodic withdrawals;
An Enhancement to the Protected
Income Base;
Account Value Step-ups of the Protected
Income Base; and
Age-based increases to the Protected
Annual Income amount.
2.25% Single Life
Option
2.45% Joint Life
Option
(as a percentage of
the Protected
Income Base)
Investment Requirements apply.
Excess Withdrawals could significantly
reduce or terminate benefits.
Any withdrawal may negatively impact or
eliminate the potential for enhancements
or step-ups.
Subject to a $10 million maximum
Protected Income Base across all Living
Benefit Riders.
Purchase Payments and step-ups may
increase fee rate.