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Form 485APOS LINCOLN NATIONAL VARIABL

August 8, 2022 3:02 PM EDT

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As filed with the Securities and Exchange Commission on August 8, 2022
1933 Act Registration No. 333-233764
1940 Act Registration No. 811-05721
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
POST-EFFECTIVE AMENDMENT NO. 7
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
AMENDMENT NO. 628
Lincoln National Variable Annuity Account H
(Exact Name of Registrant)
American Legacy® Target Date Income B-Share
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 National Variable Annuity Account H
American Legacy Target Date Income B-Share
Rate Sheet Prospectus Supplement dated XX XX, 2022
This Rate Sheet Prospectus Supplement (“Rate Sheet”) provides the rates for the Target Date Income Benefit 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 rider 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The rates in this Rate Sheet can be superseded.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
1.10%
1.35%
Enhancement Rate
6%
Protected Annual Income Rate
The Protected Annual Income (“PAI”) rate is established when you elect the rider. The rate is based on your age (younger of you and your spouse under the joint life option) and will not increase.
Single Life PAI Rate
Joint Life PAI Rate
Age
Rate
Age
Rate
Age
Rate
Age
Rate
48
2.80%
67
5.80%
48
2.20%
67
5.15%
49
2.90%
68
5.85%
49
2.30%
68
5.20%
50
3.00%
69
5.90%
50
2.40%
69
5.25%
51
3.10%
70
6.00%
51
2.50%
70
5.35%
52
3.15%
71
6.05%
52
2.55%
71
5.40%
53
3.30%
72
6.10%
53
2.70%
72
5.45%
54
3.40%
73
6.15%
54
2.80%
73
5.50%
55
3.55%
74
6.20%
55
2.95%
74
5.55%
56
3.70%
75
6.25%
56
3.10%
75
5.55%
57
3.80%
76
6.30%
57
3.20%
76
5.65%
58
4.00%
77
6.35%
58
3.40%
77
5.70%
59
4.15%
78
6.35%
59
3.55%
78
5.70%
60
4.65%
79
6.40%
60
4.15%
79
5.75%
61
4.75%
80
6.40%
61
4.25%
80
5.75%
62
4.80%
81
6.40%
62
4.30%
81
5.75%
63
5.00%
82
6.40%
63
4.50%
82
5.75%
64
5.15%
83
6.45%
64
4.65%
83
5.80%
65
5.80%
84
6.50%
65
5.15%
84
5.85%
66
5.80%
85
6.60%
66
5.15%
85
5.95%
In order to receive the 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 National Variable Annuity Account H
American Legacy® Target Date Income B-Share

Supplement dated  _______, 2022 to the prospectus dated May 1, 2022
This supplement to the prospectus for your individual variable annuity contract describes revisions to Target Date Income Benefit 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 Target Date Income Benefit 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 Enhancement Period does not reset;
no death benefit or final payout is available if the Contract Value is reduced to zero; and
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.

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

For 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 - Target Date Income Benefit.

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 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.

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.

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. 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.

Rider elections 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.
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.
Riders elected 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 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 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.

Excess Withdrawals. The following example replaces a similar example in your prospectus:

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)

Protected Annual Income Payout Option. The following paragraph replaces the third paragraph of this section:

For riders elected on and after _____, 2022, once the Contract Value is reduced to zero, the Beneficiary will not be eligible to receive the final payment upon death of the single life or surviving joint life.  If you elected the rider prior to ____ , 2022, and you are receiving the PAIPO, the Beneficiary may be eligible to receive final payment upon death of the single life or surviving joint life. If the Contract Value Death Benefit option is in effect, the Beneficiary will not be eligible to receive the final payment(s). If the effective date of the rider is the same as the effective date of the Contract, the final payment will be equal to the sum of all Purchase Payments, decreased by withdrawals. If the effective date of the rider is after the effective date of the Contract, the final payment will be equal to the Contract Value on the effective date of the rider, increased for Purchase Payments received after the rider effective date and decreased by withdrawals. Excess Withdrawals reduce the final payment in the same proportion as the withdrawals reduce the Contract Value; withdrawals less than or equal to the Protected Annual Income amount and payments under the PAIPO will reduce the final payment dollar for dollar.

Termination. The following information is added to this section: For rider 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 American Legacy® Target Date Income B-Share variable annuity contract, as supplemented, is incorporated herein by reference to Post-Effective Amendment No. 6 (File No. 333-233764) filed on April 14, 2022.
Part B
The Statement of Additional Information for the American Legacy® Target Date Income B-Share variable annuity contract is incorporated herein by reference to Post-Effective Amendment No. 6 (File No. 333-233764) filed on April 14, 2022.



Lincoln National Variable Annuity Account H
PART C - OTHER INFORMATION
Item 27. Exhibits
(b) None

(h) Fund Participation Agreements among The Lincoln National Life Insurance Company and:
B-2

(j) Rule 22c-2 Agreement 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
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 National Variable Annuity Account H 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.
B-3

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.
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.
B-4

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. 7 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 4:00 pm.

Lincoln National Variable Annuity Account H
 (Registrant)
American Legacy Target Date Income B-Share

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 4:00 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-5


Exhibit d(7)

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 the Conforming Withdrawal.

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 an amount that may be withdrawn from the Contract by the Owner each Benefit Year as a Conforming Withdrawal. If the Measuring Life Option is Joint, the Protected Annual Income available is based upon the attained age of the younger or surviving Measuring Life on the Rider Date. 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 initial Protected Annual Income is calculated on the Rider Date by multiplying the Protected Income Base by the Protected Annual Income Rate that corresponds to the attained age of the Measuring Life on the Rider Date. If the Measuring Life Option is Joint, the Protected Annual Income Rate used to calculate the initial Protected Annual Income will be based upon the attained age of the younger or surviving Measuring Life on the Rider Date. Thereafter, the Protected Annual Income Rate will not change.

The Protected Annual Income Rate Tables, which vary by age and the Measuring Life Option, 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 Protected Annual Income Rate used when the initial Protected Annual Income was calculated on the Rider Date 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.

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 initial Protected Annual Income was determined on the Rider Date 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 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 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.


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, and the Enhanced Guaranteed Minimum Death 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 this 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 the 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 this Contract are shown under Mortality And Expense Risk And Administrative Charge Prior To The Annuity Commencement Date in 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 Protected 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 L(2)

POWER OF ATTORNEY

We, the undersigned directors and/or officers of The Lincoln National Life Insurance Company, hereby constitute and appoint Delson R. Campbell, Scott C. Durocher, Kimberly A. Genovese, Daniel P. Herr, Michelle Grindle,  Jeffrey L. Smith, Jassmin McIver-Jones, Carolyn Augur, Rachel C. Fischer, Nadine Rosin and John D. Weber,  individually, our true and lawful attorneys-in-fact, with full power to each of them to sign for us, in our names and in the capacities indicated below, any Registration Statements and any and all amendments to Registration Statements; including exhibits, or other documents filed on Forms N-6, N-4 or S-3 or any successors or amendments to these Forms, filed with the Securities and Exchange Commission, under the Securities Act of 1933 and/or Securities Act of 1940, on behalf of the Company in its own name or in the name of one of its Separate Accounts, hereby ratifying and confirming our signatures as they may be signed by any of our attorneys-in-fact to any such amendments to said Registration Statements as follows:

Variable Life Insurance Separate Accounts:

Account
Product name
Lincoln Life Flexible Premium Variable Life Account D (811-04592)
Variable Universal Life Leadership Series
Lincoln Life Flexible Premium Variable Life Account F (811-05164)
American Legacy Life
American Legacy Estate Builder
Lincoln Life Flexible Premium Variable Life Account G (811-05585)
VUL-III
Lincoln Life Flexible Premium Variable Life Account J (811-08410)
American Legacy Variable Life
Lincoln Life Flexible Premium Variable Life Account K (811-08412)
Multi Fund Variable Life
Lincoln Life Flexible Premium Variable Life Account M (811-08557)
VULdb / VULdb ES
VULdb-II ES
VUL-I / VULcv
VULcv-II / VULcvII ES / VUL Flex
VULcv-III ES
MoneyGuard VUL
VULone ES / VULone 2005 ES
Momentum VULone / Momentum VULone 2005
VULcv-IV ES
VULdb-IV ES
Momentum VULone 2007
VULone 2007
AssetEdge VUL
AssetEdge VUL2015/AssetEdge Exec VUL 2015
VULone2012
VULone2014
InReach VULone2014
VULone2019
AssetEdge VUL2019/AssetEdge Exec VUL 2019
AssetEdge VUL2019-2/AssetEdge Exec VUL 2019-2
AssetEdge VUL2020/AssetEdge Exec VUL 202
AssetEdge VUL 2022/AssetEdge VUL 2022-2
MoneyGuard Market Advantage
VULone2021
LifeGoals VUL
Lincoln Life Flexible Premium Variable Life Account R (811-08579)
SVUL / SVUL-I
SVUL-II / SVUL-II ES
SVUL-III ES
SVUL-IV ES / PreservationEdge SVUL
SVULone ES
Momentum SVULone
SVULone 2007 ES
Momentum SVULone 2007
SVULone2013
SVULone2016
SVULone2019
SVULone2021
Lincoln Life Flexible Premium Variable Life Account S (811-09241)
CVUL / CVUL Series III / CVUL Series III ES
LCV4 ES
LCV5 ES / LCC VUL
Lincoln Corporate Executive VUL
Lincoln Life Flexible Premium Variable Life Account Y (811-21028)
American Legacy VULcv-III
American Legacy VULdb-II
American Legacy SVUL-II
American Legacy SVUL-III
American Legacy VULcv-IV
American Legacy VULdb-IV
American Legacy SVUL-IV/PreservationEdge SVUL
American Legacy AssetEdge
Lincoln Life Flexible Premium Variable Life Account JF-A
Ensemble II
Ensemble III
Ensemble Exec 2006
Ensemble Exec
Ensemble 1
Ensemble Accumulator
Ensemble Protector
Lincoln Life Flexible Premium Variable Life Account JF-C
Ensemble SL
Ensemble SVUL


Variable Annuity Separate Accounts:

Account
Product name
Lincoln National Variable Annuity Account C (811-03214)
Multi-Fund
Multi-Fund Select
Multi-Fund 5 Retirement Annuity
Lincoln National Variable Annuity Account E (811-04882)
The American Legacy
Lincoln National Variable Annuity Account H (811-05721)
American Legacy II
American Legacy III
American Legacy III B Class
American Legacy III C Share
American Legacy III Plus
American Legacy III View
American Legacy Design
American Legacy Signature
American Legacy Fusion
American Legacy Series
American Legacy Advisory
American Legacy Target Date Income B Share
American Legacy Target Date Income Advisory
Shareholder’s Advantage
Shareholder’s Advantage A Class
Shareholder’s Advantage purchased on and after May 21, 2018
Lincoln National Variable Annuity Account L (811-07645)
Group Variable Annuity
Lincoln PathBuilder Income Version 1
Lincoln PathBuilder Income Version 2
Lincoln PathBuilder Income Version 3
Lincoln PathBuilder Income Version 4
Lincoln PathBuilder Income® IRA
Retirement Income Rollover Version 1
Retirement Income Rollover Version 2
Retirement Income Rollover Version 3
Retirement Income Rollover Version 4
Lincoln Life Variable Annuity Account N (811-08517)
ChoicePlus Assurance (A Share)
ChoicePlus Assurance (A Class)
ChoicePlus Assurance (B Share)
ChoicePlus Assurance (B Class)
ChoicePlus Assurance (C Share)
ChoicePlus Assurance (L Share)
ChoicePlus Assurance (Bonus)
Choice Plus
Choice Plus II
ChoicePlus Access
ChoicePlus II Access
ChoicePlus Bonus
ChoicePlus II Bonus
 
ChoicePlus II Advance
ChoicePlus Design
ChoicePlus Signature
ChoicePlus Rollover
ChoicePlus Fusion
ChoicePlus Series
ChoicePlus Prime
ChoicePlus Advisory
ChoicePlus Select B-Share
InvestmentSolutions
InvestmentSolutions RIA
Lincoln Investor Advantage
Lincoln Invester Advantage 2018
Lincoln Invester Advantage Pro
Lincoln Investor Advantage Fee-Based
Lincoln Investor Advantage RIA
Lincoln Investor Advantage Advisory
Lincoln Investor Advantage Pro Advisory
Lincoln Investor Advantage RIA Class
Lincoln Investor Advantage Advisory Choice
Lincoln Investor Advantage Advisory Pro Choice
Lincoln Level Advantage B Share Indexed Variable Annuity
Lincoln Level Advantage Advisory Indexed Variable Annuity
Lincoln Level Advantage B Class Indexed Variable Annuity
Lincoln Level Advantage Advisory Class Indexed Variable Annuity
Lincoln Level Advantage Fee-Based Indexed Variable Annuity
Lincoln Level Advantage Select B-Share Indexed Variable Annuity
Lincoln Level Advantage Design B-Share Indexed Variable Annuity
Lincoln Level Advantage Design Advisory Indexed Variable Annuity
Lincoln Level Advantage Access Indexed Variable Annuity
Core Income
Lincoln Life Variable Annuity Account Q (811-08569)
Multi-Fund Group
Lincoln Life S-3 Registration Statement
Lincoln Level Advantage B Share Indexed Variable Annuity
Lincoln Level Advantage Advisory Indexed Variable Annuity
Lincoln Level Advantage B Class Indexed Variable Annuity
Lincoln Level Advantage Advisory Class Indexed Variable Annuity
Lincoln Level Advantage Fee-Based Indexed Variable Annuity
Lincoln Level Advantage Select B Share Indexed Variable Annuity
Lincoln Level Advantage Design B-Share Indexed Variable Annuity
Lincoln Level Advantage Design Advisory Indexed Variable Annuity
Lincoln Level Advantage Access Indexed Variable Annuity


Except as otherwise specifically provided herein, the power-of-attorney granted herein shall not in any manner revoke in whole or in part any power-of-attorney that each person whose signature appears below has previously executed.  This power-of-attorney shall not be revoked by any subsequent power-of-attorney each person whose signature appears below may execute, unless such subsequent power specifically refers to this power-of-attorney or specifically states that the instrument is intended to revoke all prior general powers-of-attorney or all prior powers-of-attorney.

This Power-of-Attorney may be executed in separate counterparts each of which when executed and delivered shall be an original; but all such counterparts shall together constitute one and the same instrument.  Each counterpart may consist of a number of copies, each signed by less than all, but together signed by all, of the undersigned.

Signature
Title
 
/s/Ellen G. Cooper
_____________________________
Ellen G. Cooper
 
 
President and Director
 
/s/Randal J. Freitag
_____________________________
Randal J. Freitag
 
 
 
Executive Vice President, General Counsel and Director
 
/s/Craig T. Beazer
_____________________________
Craig T. Beazer
 
 
 
Executive Vice President, General Counsel and Director
 
/s/Keith J. Ryan
_____________________________
Keith J. Ryan
 
 
 
Vice President and Director
 
/s/Jayson R. Bronchetti
_____________________________
Jayson R. Bronchetti
 
 
 
Executive Vice President and Chief Investment Officer
 
/s/Adam M. Cohen
_____________________________
Adam M. Cohen
 
 
 
Senior Vice President and Chief Accounting Officer


We, Delson R. Campbell, Scott C. Durocher, Kimberly A. Genovese, Daniel P. Herr, Michelle Grindle, Jeffrey L. Smith, Jassmin McIver-Jones, Carolyn Augur, Rachel C. Fischer, Nadine Rosin and John D. Weber, have read the foregoing Power of Attorney.  We are the person(s) identified therein as agent(s) for the principal named therein.  We acknowledge our legal responsibilities.


/s/Delson R. Campbell
_____________________________
Delson R. Campbell
/s/Scott C. Durocher
___________________________
Scott C. Durocher
 
/s/Kimberly A. Genovese
_____________________________
Kimberly A. Genovese
 
/s/Daniel P. Herr
____________________________
Daniel P. Herr
 
/s/Nadine Rosin
_____________________________
Nadine Rosin
 
/s/Michelle Grindle
____________________________
Michelle Grindle
 
/s/Jeffrey L. Smith
_____________________________
Jeffrey L. Smith
 
/s/John D. Weber
_____________________________
John D. Weber
 
/s/Jassmin McIver-Jones
_____________________________
Jassmin McIver-Jones
 
/s/Carolyn Augur
_____________________________
Carolyn Augur
 
/s/Rachel C. Fischer
______________________________
Rachel C. Fischer
 



Version dated: July 2022



THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Lincoln National Variable Annuity Account H

American Legacy® Target Date Income B-Share

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 revisions to Target Date Income Benefit 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 Target Date Income Benefit 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 Enhancement Period does not reset;
no death benefit or final payout is available if the Contract Value is reduced to zero; and
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.



Please keep this supplement for future reference.




American Legacy® Target Date Income B-Share
Individual Variable Annuity Contracts
Summary Prospectus for New Investors
May 1, 2022
This summary prospectus summarizes key features of the American Legacy® Target Date Income B-Share 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 American Legacy® Target Date Income B-Share 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 1-800-942-5500 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 1-800-942-5500, 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 American Legacy® Target Date Income B-Share Variable Annuity
Contract
4
Overview of the Contract
6
Benefits Available Under the Contract
7
Buying the Contract
8
Making Withdrawals: Accessing the Money in Your Contract
9
Additional Information About Fees
10
Fee Tables
10
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 and withdrawals.
Account Value Step-up—Under the Target Date Income Benefit, the Protected Income Base and/or Enhancement Base will automatically step up to the Contract Value on each Benefit Year anniversary, subject to certain conditions.
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.
Benefit Year—Under the Target Date Income Benefit, the 12-month period starting with the effective date of the rider and starting with each anniversary of the rider effective date after that.
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 the Target Date Income Benefit 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.
Protected Annual Income—The guaranteed periodic withdrawal amount available from the Contract each Benefit Year for life under Target Date Income Benefit.
Protected Income Base—Under the Target Date Income Benefit, the Protected Income Base is a value to calculate your Protected Annual Income amount or the minimum payouts under your Contract at a later date. The initial Protected Income Base is equal to your initial Purchase Payment (or your Contract Value on the effective date of your rider, if you elect the rider after we have issued the Contract). The Protected Income Base is increased by Enhancements, Account Value Step-ups and additional Purchase Payments, and reduced upon an Excess Withdrawal.
Purchase Payments—Amounts paid into the Contract.
Rate Sheet—A prospectus supplement, that will be filed periodically, where we declare the current withdrawal rates under the Target Date Income Benefit.
Secondary Life—Under i4LIFE® Advantage, the person designated by the Contractowner upon whose life the annuity payments will also be contingent.
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 American Legacy® Target Date Income B-Share 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 5th
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
There are no sales charges associated with the Contract.
N/A
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 – Contract Value Death
Benefit
0.92%1
0.92%1
Base Contract – Guarantee of Principal
Death Benefit
1.12%1
1.12%1
Investment options (fund fees and
expenses)
0.83%1
0.90%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: $5,029
 
 
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 1-800-
942-5500 or visiting www.LincolnFinancial.com.
Principal Risks
 
RESTRICTIONS
Location in
Prospectus
Investments
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
 
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 American Legacy® Target Date Income B-Share 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, 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 take a withdrawal or surrender; (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:
Target Date Income Benefit,
a minimum Annuity Payout:
i4LIFE® Advantage.
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
Contract Value Death
Benefit
Provides a Death Benefit equal to the
Contract Value.
0.90%
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.
1.10%
Withdrawals could significantly reduce
the benefit.
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.
7

Optional Benefits – Available for Election
Name of Benefit
Purpose
Maximum Fee
Brief Description of Restrictions /
Limitations
Target Date Income
Benefit
Guaranteed lifetime periodic withdrawals
An Enhancement to the Protected
Income Base
Account Value Step-ups of the Protected
Income Base
2.45%
Investment Requirements apply.
Excess Withdrawals could significantly
reduce or terminate the benefit.
Any withdrawal my negatively import 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.
i4LIFE® Advantage
Provides:
Variable periodic Regular Income
Payments for life.
The ability to make additional
withdrawals and surrender the Contract
during the Access Period.
 
i4LIFE® Advantage:
0.40% in addition to
the base contract
expense for the
Death Benefit you
have elected.
Withdrawals could significantly reduce or
terminate the benefit.
Restrictions apply to the length of the
Access Period
Additional Purchase Payments may be
subject to restrictions.
Rate Sheets
The current Enhancement rate, Protected Annual Income rates, and Guaranteed Income Benefit percentages available under certain Living Benefit Riders are declared in a Rate Sheet prospectus supplement. The Rate Sheet indicates the current rates and/or current percentages 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 and/or percentages. The rates and/or percentages may be superseded at any time, in our sole discretion, and may be higher or lower than the rates and/or percentages 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 and/or percentage 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 1-800-942-5500.
Buying the Contract
If you wish to purchase a Contract, you must apply for it through a registered representative authorized by us. The completed application is sent to us and we decide whether to accept or reject it. If the application is accepted, a Contract is prepared and executed by our legally authorized officers. The Contract (and a statement confirming your investments) is then sent to you either directly or through your registered representative. The purchase of multiple contracts with identical Contractowners, Annuitants and Beneficiaries will be allowed only upon Home Office approval.
When a completed application and all other information necessary for processing a purchase order is received in Good Order at our Home Office at The Lincoln National Life Insurance Company, PO Box 2348, Fort Wayne, IN 46801-2348, an initial Purchase Payment will be priced no later than two business days after we receive the order. If you submit your application and/or initial Purchase Payment to your registered representative, we will not begin processing your purchase order until we receive the application and initial Purchase Payment from your registered representative’s broker-dealer. While attempting to finish an incomplete application, we may hold the initial Purchase Payment for no more than five business days unless we receive your consent to our retaining the payment until the application is completed. If the incomplete application cannot be completed within those five days and we have not received your consent, you will be informed of the reasons, and the Purchase Payment will be returned immediately. Once the application is complete, we will allocate your initial Purchase Payment within two business days.
Purchase Payments – Investing in the Contract
You may make Purchase Payments to the Contract at any time, prior to the Annuity Commencement Date, subject to certain conditions. You are not required to make any additional Purchase Payments after the initial Purchase Payment. If we receive an additional Purchase Payment before the close of the New York Stock Exchange (typically 4:00 PM New York time, or EST), we will credit your
8

purchase payment that day. If we receive your additional Purchase Payment after the close of the New York Stock Exchange, your payment will be applied on the next business day.
The minimum initial Purchase Payment is $25,000. The minimum for Selling Group Individuals is $1,500. The minimum annual amount for additional Purchase Payments is $300.
For additional Purchase Payments the minimum payment to the Contract at any one time is $100 ($25 if transmitted electronically), and the minimum annual amount is $300. Please check with your registered representative about making additional Purchase Payments since the requirements of your state may vary. If a Purchase Payment is submitted that does not meet the minimum amount, we will contact you to ask whether additional money will be sent, or whether we should return the Purchase Payment to you.
Purchase Payments totaling $2 million or more are subject to Home Office approval. This amount takes into consideration the total Purchase Payments for all variable annuity contracts issued by the Company (or its affiliates) (excluding Lincoln Investor Advantage and Lincoln Level AdvantageSM contracts) for the same Contractowner, joint owner, and/or Annuitant.
If you elect a Living Benefit Rider, you may be subject to further restrictions on your ability to make additional Purchase Payments, as described in the prospectus. These restrictions and limitations will limit your ability to increase your Contract Value (or Account Value under i4LIFE® Advantage with any version of Guaranteed Income Benefit) and/or increase the amount of any guaranteed benefit under a Living Benefit Rider by making additional Purchase Payments to the Contract.
Making Withdrawals: Accessing the Money in Your Contract
Before the Annuity Commencement Date – During the Accumulation (Savings) Phase
You can access the money in your Contract by making a withdrawal, which will reduce the value of your Contract (including the amount of the death benefit and certain living benefits). You may withdraw all or a portion of the Contract Value (minus applicable charges and other adjustments, discussed below). However, withdrawing the entire cash value of your Contract will terminate your Contract.
Before the Annuity Commencement Date, you can completely surrender the Contract or withdraw part of the Contract Value upon your written request on an approved Lincoln distribution request form (available from the Home Office), fax, or other electronic means. Withdrawal requests may also be made by telephone or our website, subject to certain restrictions. All surrenders and withdrawals must be made in accordance with the rules discussed in the prospectus. The amount available upon surrender or withdrawal is the Contract Value less any applicable charges, fees, and taxes at the end of the Valuation Period during which the written request for surrender or withdrawal is received in Good Order at the Home Office.
If we receive a surrender or withdrawal request in Good Order at our Home Office before the close of regular trading on the New York Stock Exchange (normally 4:00 p.m., New York time), we will process the request using the Accumulation Unit value computed on that Valuation Date. If we receive a surrender or withdrawal request in Good Order at our Home Office after New York Stock Exchange regular market close, we will process the request using the Accumulation Unit value computed on the next Valuation Date.
The minimum amount which can be withdrawn is $300. Unless a request for withdrawal specifies otherwise, withdrawals will be made from all Subaccounts within the VAA and from the fixed account in the same proportion that the amount of withdrawal bears to the total Contract Value. Surrenders and withdrawals from the fixed account may be subject to an Interest Adjustment. Unless prohibited, surrender and withdrawal payments will be mailed within seven days after we receive a valid written request at the Home Office. The payment may be postponed as permitted by applicable law.
There may be charges associated with surrender of a Contract or withdrawal of Contract Value. You may specify whether these charges are deducted from the amount you request to be withdrawn or from the remaining Contract Value. If the charges are deducted from the remaining Contract Value, the amount of the total withdrawal will increase according to the impact of the applicable surrender charge percentage; consequently, the dollar amount of the surrender charge associated with the withdrawal will also increase. In other words, the dollar amount deducted to cover the surrender charge is also subject to a surrender charge.
There are tax consequences for surrenders and withdrawals.
Certain withdrawals may reduce the value of any optional living benefits you elected or even terminate the benefit.
Some optional living benefits provide withdrawal options.
There are limitations associated with taking money out of the Contract, including the following:
Limitations on withdrawal amounts
The minimum withdrawal amount is $300.
Surrender charges and taxes
There may be surrender charges, interest adjustments,
and tax implications when you take out money.
9

Negative impact on benefits and guarantees of your
Contract
A withdrawal may have a negative impact on certain
optional benefits that you may elect. It may reduce the
value of or even terminate certain benefits.
Internal Revenue Code or Retirement Plan
Depending on the circumstances, the Internal Revenue
Code or your retirement plan may restrict your ability
to take withdrawals.
After the Annuity Commencement Date – During the Annuity (Income) Phase
After the Annuity Commencement Date, you will receive payments under the annuity payment option you select, but generally you may not take any other withdrawals or surrender your Contract. Surrender or withdrawal rights after the Annuity Commencement Date, if any, depend on the Annuity Payout option selected.
Additional Information About Fees
Fee Tables
The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering or making withdrawals from the Contract. 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.
The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender or make withdrawals from the Contract, or transfer Contract Value between investment options, and/or the fixed account (if available). State premium taxes may also be deducted. The premium tax rates range from zero to 5%.

ANNUAL CONTRACT EXPENSES
Surrender charge (as a percentage of Purchase Payments surrendered/withdrawn):1
7.00%
We may also apply an Interest Adjustment to amounts being withdrawn, surrendered or transferred from a Guaranteed
Period account (except for dollar cost averaging and Regular Income Payments under i4LIFE® Advantage). See Fixed
Side of the Contract.
 
1
The surrender charge percentage is reduced over a 5-year period at the following rates: 7%, 6%, 5%, 4%, 3%. The later the redemption occurs, the lower the surrender charge with respect to that surrender or withdrawal. We may reduce or waive this charge in certain situations. See Charges and Other Deductions –
Surrender Charge.
The following table describes the fees and expenses that you will pay each year during the time that you own the Contract, not including fund fees and expenses. If you choose to purchase an optional benefit, you will pay additional charges, as shown below.

ANNUAL CONTRACT EXPENSES
Annual Administrative Charge (Account Fee):1
 
$35
 
 
 
Base Contract Expenses:
 
 
Contract Value Death Benefit
 
0.90%
Guarantee of Principal Death Benefit2
 
1.10%
Optional Benefit Expenses (Protected Lifetime Income Fees)
Single
Life
Joint
Life
Target Date Income Benefit:3, 4
 
 
Guaranteed Maximum Charge
2.25%
2.45%
i4LIFE® Advantage:5
 
 
Current Charge
0.40%
0.40%
10

 
 
 
1
During the accumulation phase, the account fee will be deducted from your Contract Value on each contract anniversary, or upon surrender of the Contract. The account fee will be waived if your Contract Value is $50,000 or more on the contract anniversary (or day of surrender).
2
Each base contract expense includes an administrative charge of 0.10%.
3
The current charge for new elections of this rider is disclosed in a Rate Sheet. The rates and/or percentages from previous effective periods are included in an Appendix to this prospectus.
4
As an annualized percentage of the Protected income Base, as increased for subsequent Purchase Payments, Account Value Step-ups and Enhancements, and decreased by Excess Withdrawals. This fee is deducted from the Contract Value on a quarterly basis. See Charges and Other Deductions – Protected Lifetime Income Fees for more information about your Living Benefit Rider.
5
As an annualized percentage of average Account Value, computed daily. This charge is assessed only on and after the effective date of i4LIFE® Advantage and is added your base contract expense. These charges continue during the Access Period. During the Lifetime Income Period, the i4LIFE® Advantage charge rate of
0.40% is added to the Account Value Death Benefit base contract expense.
The next table shows the minimum and maximum total annual operating expenses charged by the funds that you may pay periodically during the time that you own the Contract. The expenses are for the year ended December 31, 2021. A complete list of funds available under the Contract, including their annual expenses, may be found in Appendix A: Funds Available Under the Contract.
Annual Fund Expenses
Minimum
Maximum
Expenses that are deducted from the fund assets, including
management fees, distribution and/or service (12b-1) fees, and other
expenses before any waivers or expense reimbursements
0.83%
0.90%
Expenses that are deducted from the fund assets, including
management fees, distribution and/or service (12b-1) fees, and other
expenses after any waivers or expense reimbursements.1
0.83%
0.90%
1
Any expense waivers or reimbursements will remain in effect until at least April 30, 2023, and can only be terminated early with approval by the fund’s board of directors.
EXAMPLES
This 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, annual contract expenses, and annual fund fees and expenses. The Examples have 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 Target Date Income Benefit 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
$11,461
$18,778
$26,606
$50,284
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
$4,461
$13,778
$23,606
$50,284
11

Appendix A— Funds Available Under The Contract
The following is a list of funds currently available under the Contract. Depending on the optional benefits you choose, you may not be able to invest in certain funds. More information about the funds is available in the Fund’s prospectus, which may be amended from time to time and can be found online at www.lfg.com/VAprospectus. You can also request this information at no cost by calling 1-800-942-5500 or by sending an email request to [email protected]
The current expenses and performance information below reflects fees and expenses of the Fund, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each fund’s past performance is not necessarily an indication of future performance.
Investment Objective
Fund and
Adviser/Sub-adviser1
Current Expenses
Average Annual Total
Returns (as of 12/31/2021)
 
 
 
1 year
5 year
10 year
To provide growth, income and
conservation of capital depending on
proximity to target date. A fund of funds.
American Funds 2010 Target Date FundSM
- Class 4
0.83%
8.75%
N/A
N/A
To provide growth, income and
conservation of capital depending on
proximity to target date. A fund of funds.
American Funds 2015 Target Date FundSM
- Class 4
0.84%
9.74%
N/A
N/A
To provide growth, income and
conservation of capital depending on
proximity to target date. A fund of funds.
American Funds 2020 Target Date FundSM
- Class 4
0.85%
10.10%
N/A
N/A
To provide growth, income and
conservation of capital depending on
proximity to target date. A fund of funds.
American Funds 2025 Target Date FundSM
- Class 4
0.87%
10.77%
N/A
N/A
To provide growth, income and
conservation of capital depending on
proximity to target date. A fund of funds.
American Funds 2030 Target Date FundSM
- Class 4
0.88%
12.55%
N/A
N/A
To provide growth, income and
conservation of capital depending on
proximity to target date. A fund of funds.
American Funds 2035 Target Date FundSM
- Class 4
0.90%
14.99%
N/A
N/A
1
The name of the adviser or sub-adviser is not listed if the name is incorporated into the name of the fund or the fund company.
2
This fund is subject to an expense reimbursement or fee waiver arrangement. As a result, this fund’s annual expenses reflect temporary expense reductions. See the fund prospectus for additional information.
A-1

Appendix B — Investment Requirements
If you elect the Target Date Income Benefit, you will be subject to Investment Requirements that will apply during the time this benefit is in effect. This means you will be limited in your choice of Subaccount investments, and that you will not be able to allocate Contract Value to all of the Subaccounts that are available to Contractowners who have not elected this rider. We impose Investment Requirements to reduce the risk of investment losses that may require us to use our own assets to make guaranteed payments under a Living Benefit Rider.
Certain investment options are not available to you if you purchase this rider. The Investment Requirements may not be consistent with an aggressive investment strategy. You should consult with your registered representative to determine if the Investment Requirements are consistent with your investment objectives.
We may change the list of Subaccounts in a group, change the number of groups, change the age brackets, or change the investment options that are or are not available to you at any time in our sole discretion. You will be notified at least 30 days prior to the date of any change. We may make such modifications at any time when we believe these modifications are necessary to protect our ability to provide the guarantees under these riders. Our decision to make modifications will be based on several factors, including the general market conditions and the style and investment objectives of the Subaccount investments.
At the time you receive notice of a change to the Investment Requirements, you may:
1.
submit your own reallocation instructions for the Contract Value, before the effective date specified in the notice, so that the Investment Requirements are satisfied; or
2.
take no action and be subject to the quarterly rebalancing as described above. If this results in a change to your allocation instructions, then these will be your new allocation instructions until you tell us otherwise.
The Investment Requirements for the Target Date Income Benefit are based on your year of birth (earliest year for joint life) at the time you elect the rider. You must allocate 100% of your Contract Value to the appropriate fund in the chart below, which applies for the entire duration of the rider. All other funds are unavailable.
Year of Birth
Target Date Fund
1978 – 1982
2035
1973 – 1977
2030
1968 – 1972
2025
1963 – 1967
2020
1958 – 1962
2015
Prior to 1958
2010
B-1

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This initial summary prospectus incorporates by reference the prospectus and statement of additional information (SAI) for the Contract, both dated May 1, 2022, as may be amended or supplemented from time to time. The SAI may be obtained, free of charge, in the same manner as the prospectus.

SEC File Nos. 333-233764; 811-05721
EDGAR Contract Identifier C000216183



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