Form 497K LINCOLN VARIABLE INSURAN
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LVIP JPMorgan Small Cap Core Fund
Supplement Dated June 9, 2023
to the Summary and Statutory Prospectuses dated May 1, 2023
This Supplement updates certain information in the Summary and Statutory Prospectuses for the LVIP JPMorgan Small Cap Core Fund (the “Fund”). You may obtain copies of the Fund’s Summary and Statutory Prospectuses free of charge, upon request, by calling toll-free 1-800-4LINCOLN (454-6265) or at www.lfg.com/lvip.
Effective immediately, the Fund’s Summary and Statutory Prospectuses are revised as follows:
| 1. | All references to, and information regarding, Jonathan L. Tse, in the Fund’s Summary and Statutory Prospectuses are deleted in their entirety. |
| 2. | The following replaces the information related to J.P. Morgan Investment Management Inc. (“JPMIM”) under Portfolio Managers on page 4 of the Summary and Statutory Prospectuses: |
| JPMIM Portfolio Managers |
Company Title |
Experience with Fund | ||
| Phillip D. Hart, CFA | Managing Director | Since 2011 | ||
| Wonseok Choi, Ph.D. | Managing Director | Since 2019 | ||
| Akash Gupta, CFA, FRM | Executive Director | Since 2019 | ||
| Robert A. Ippolito, CFA | Portfolio Manager | Since 2021 | ||
| 3. | The following replaces the information under Management and Organization —JPMIM Portfolio Managers on page 10 of the Statutory Prospectus: |
Phillip D. Hart, Wonseok Choi, Akash Gupta, and Robert Ippolito are responsible for the day-to-day management of the Fund’s assets.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
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