Form 497VPU FS VARIABLE SEPARATE
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E-mailPolaris Retirement Protector
issued by
The United States Life Insurance Company in the City of New York
In the state of New York
In connection with
FS VARIABLE SEPARATE ACCOUNT
UPDATING SUMMARY PROSPECTUS FOR EXISTING
INVESTORS
May 1, 2026
May 1, 2026
This updating summary prospectus provides updated information about Polaris Retirement Protector, a flexible premium deferred variable annuity.
The prospectus for the contract contains more information about the contract, such as the contract’s features, benefits, and risks. You can find the current prospectus and other information about the contract online at
www.corebridgefinancial.com/ProductProspectuses. You can also obtain this information at no cost by calling (855) 421-2692 or by writing to our Annuity Service Center (P.O. Box 15570, Amarillo, Texas 79105-5570).
* * * * * * * * * * * *
Additional information about certain investment products, including variable annuities, has been prepared by the SEC’s staff and is available at www.Investor.gov.
Special Terms Used in this Summary Prospectus
Accumulation Phase - The period during which you invest money in your contract.
DCA Fixed Account - A fixed interest investment option under which amounts earn interest before they are systematically transferred from a DCA Fixed Account to
one or more investment options over a specified period of time.
Fixed Account - An account, if available, in which you may invest money and earn a fixed rate of return. Fixed Accounts are obligations of the General
Account.
Income Base - For an optional Living Benefit, a value used to determine the maximum amount that may be
withdrawn each Benefit Year without reducing the benefit's guarantees.
Living Benefit - An optional benefit designed to help create a guaranteed income stream for life and provide some protection against certain financial risks.
(Living Benefits may only be elected at the time you purchase the contract).
Purchase
Payment - The money you give us to buy and invest in the contract.
Secure Value Account - A Fixed Account, available only with election of the Living Benefit, to which we allocate a
percentage of every Purchase Payment.
Separate Account - A segregated asset account maintained by the Company separately from the Company’s General Account. The Separate Account consists of
Variable Portfolios or subaccounts, each investing in shares of Underlying Funds.
Underlying Fund - The underlying investment portfolios of the Trusts in which a Variable Portfolio invests.
Variable Portfolio(s) - A variable investment option available under the contract. Each Variable Portfolio, which is a subaccount of the Separate Account, invests
in shares of one of the Underlying Funds. Each Underlying Fund has its own investment
objective.
Updated Information About Your Contract
The following is a summary of certain contract features that have changed
since the Updating Summary Prospectus dated April 28, 2025. This may not reflect all of
the changes that have occurred since you purchased your contract. Please see the prospectus available on www.corebridgefinancial.com/ProductProspectuses for more information.
Underlying Fund Changes effective on July 28,
2025
•
The SA Wellington Government and Quality Bond Portfolio was renamed SA Goldman Sachs Government and Quality Bond Portfolio, and Goldman Sachs Asset Management L.P. became its subadvisor.
•
The SA JPMorgan Global Equities Portfolio was renamed SA Fidelity Institutional AM
Global Equities Portfolio and FIAM LLC became its subadvisor.
Underlying Fund Changes effective on May 1,
2026
•
The SA Morgan Stanley International Equities Portfolio was renamed SA BlackRock Advantage International Portfolio and BlackRock Investment Management, LLC became its subadvisor.
2
Important Information You Should Consider About the Contract
| |
FEES AND EXPENSES |
Location in
Prospectus | ||
| Are There
Charges or
Adjustments for
Early
Withdrawals? |
Yes.
If you withdraw money from your contract within 5 years following each Purchase Payment, you may be assessed a withdrawal charge of up to 8%, as a percentage of each Purchase
Payment withdrawn.
For example, if you were to withdraw $100,000 during a withdrawal
charge period, you could be assessed a withdrawal charge
of up to $8,000 if your maximum withdrawal charge is 8%.
This loss will be greater if there are federal and state income taxes or tax-penalties. Withdrawal Charges do not apply to certain withdrawals including the withdrawal up to the
annual penalty-free withdrawal amount which equals 10% of your
Purchase Payments not yet withdrawn. |
Expenses –
Withdrawal
Charges | ||
| Are There
Transaction
Charges? |
Yes, in addition to withdrawal charges, you may be charged for other transactions. You will
be charged for each transfer after 15 transfers in any contract year
during the Accumulation Phase. There may also be taxes on Purchase Payments.
|
Expenses | ||
| Are There
Ongoing Fees and
Expenses? |
Yes.
The table below describes the current fees and expenses of the
contract that you may pay each
year, depending on the investment options and optional benefits you choose. Please
refer to your contract data page for information about the specific
fees you will pay each year based on the options you
have elected. |
Expenses | ||
| Annual Fee |
Minimum |
Maximum | ||
| Base Contract1 |
1.32% |
1.57% | ||
| Investment Options2
(Underlying Fund fees and expenses) |
0.46% |
1.85% | ||
| Optional Benefits Available for an
Additional Charge
(For a single optional benefit, if elected) |
0.25%3 |
2.70%4 | ||
| 1 As a percentage of the value in the Separate Account (includes a percentage attributable to the contract maintenance fee). 2 As a percentage of Underlying Fund
net assets. 3 As a percentage of the average daily ending net asset value allocated to the Variable Portfolios.
4 As a percentage of the Income Base used to calculate the guaranteed benefit. This represents the maximum charge for the most expensive optional benefit.
Because your contract is customizable, the choices you make affect how
much you will pay. To help you understand the cost of
owning your contract, the following table shows the
lowest and highest cost you could pay each year, based on current charges. This
estimate assumes that you do not take withdrawals from
the contract, which could add withdrawal charges that
substantially increase costs. | ||||
| Lowest Annual Cost: $1,680 |
Highest Annual Cost: $4,437 | |||
| Assumes:
•Investment of $100,000 •5% annual appreciation
•Least expensive Underlying Fund fees and expenses •No optional benefits
•No withdrawal charges •No additional Purchase Payments,
transfers, or withdrawals |
Assumes:
•Investment of $100,000 •5% annual appreciation
•Most expensive combination of optional benefits and Underlying Fund fees and expenses •No withdrawal charges
•No additional Purchase Payments, transfers, or withdrawals | |||
3
| |
RISKS |
Location in
Prospectus | ||
| Is There a Risk of
Loss from Poor
Performance? |
Yes. You can gain or lose money by investing in this contract, including possible loss of your
principal investment. |
Principal Risks of Investing in the Contract | ||
| Is this a
Short-Term
Investment? |
No.
•This contract is not designed for short-term investing and may not be appropriate for an
investor who needs ready access to cash. As such, you should not use
the contract as a short-term investment or savings
vehicle. •Charges may apply to withdrawals. Withdrawal charges could significantly reduce the
value of your investment or the amount that you receive upon taking a
withdrawal. Withdrawals may also reduce or terminate
contract guarantees and may also be subject to state and
federal income taxes and tax-penalties. •The benefits of tax deferral, long-term income, and optional
Living Benefit guarantees
mean that this contract is generally more beneficial to investors with
a long investment time horizon. | |||
| What are the
Risks Associated
with the
Investment
Options? |
•An investment in this contract is subject to the risk of poor investment performance and
can vary depending on the performance of the investment options
available under the contract.
•Each investment option (including each Fixed Account option) has its own unique risks. •You should review the available investment options before
making an investment decision. | |||
| What are the
Risks Related to
the Insurance
Company? |
An investment in the contract is subject to the risks related to us,
The United States Life Insurance Company in the City of
New York. Any obligations (including under a Fixed
Account option), guarantees, and benefits of the contract are subject
to our claims-paying ability. An Owner should look
solely to our financial strength for our claims-paying ability. More information about the Company, including our financial strength ratings, may be
obtained at https://investors.corebridgefinancial.com/financials/Ratings/default.aspx. | |||
4
| |
RESTRICTIONS |
Location in
Prospectus | ||
| Are There Limits
on the Investment
Options? |
Yes.
Transfer Restrictions.
•During the Accumulation Phase, you must transfer at least $100 per transfer between any
of the Variable Portfolios and/or any available Fixed Accounts. If
less than $100 remains in any Variable Portfolio or
Fixed Account after a transfer, that amount must be
transferred as well. Funds already in your contract cannot be
transferred to the DCA Fixed Account, if available. A transfer request will be priced as
of the day it is received before Market Close. If the
transfer request is received after Market Close, the request will be priced as of the next NYSE business day. •During the Income Phase, only one transfer per month is
permitted between the Variable Portfolios. No other
transfers are allowed during the Income Phase. Transfers will be effected for the last NYSE business day of the month in which we receive your request for
the transfer. You may not use the DCA Program or the Automatic Asset
Rebalancing Program during the Income
Phase. •Your transfers between the Variable Portfolios are subject to policies designed to deter
frequent and short-term trading.
Investment Restrictions. If you elect an optional Living Benefit, not all investment options may be available and you must invest in accordance with the applicable investment
requirements. You may be required to invest a certain percentage of
your contract value in a certain investment option,
including the Secure Value Account which is only
available with certain option Living Benefits. We
reserve the right to modify the investment requirements
in the future. If you do not elect any optional benefit, or if the only optional benefit you elect is a death benefit, your contract is not subject to investment
requirements.
Availability of Variable Portfolios. We may, subject to any applicable law, make certain changes to the Variable Portfolios offered in your contract. We may offer new Variable
Portfolios or stop offering existing Variable Portfolios. New Variable
Portfolios may be made available to existing contract
Owners, and Variable Portfolios may be closed to new or
subsequent Purchase Payments, transfers or allocations. In addition, we may also liquidate the shares of any Variable Portfolio, substitute the shares of one Underlying
Fund held by a Variable Portfolio for another and/or merge Variable
Portfolios or cooperate in a merger of Underlying Funds.
To the extent required by the Investment Company Act of
1940, as amended, we may be required to obtain SEC approval or your approval. |
Investment
Options | ||
| Are There Any
Restrictions on
Contract Benefits? |
Yes.
•There are restrictions and limitations relating to the benefits offered under the contract
(e.g., death benefits, Living Benefits, DCA Fixed Account, DCA
Program, Automatic Asset Rebalancing Program, Systematic
Withdrawal Program, Automatic Payment Plan).
•We reserve the right to modify or terminate the DCA Program, Automatic Asset
Rebalancing Program, Systematic Withdrawal Program, and Automatic
Payment Plan. •Withdrawals that exceed limits specified by the terms of a benefit may reduce the value of
the benefit by an amount greater than the value withdrawn and could
terminate the benefit. |
Optional Living
Benefit
Death Benefits | ||
| |
TAXES |
| ||
| What are the
Contract’s Tax
Implications? |
•You should consult with a tax professional to determine the tax implications of an
investment in and payments received under the contract.
•If you purchase the contract through a tax-qualified plan or individual retirement account
(IRA), there is no additional tax benefit under the
contract. •Earnings under your contract are taxed at ordinary income tax rates when withdrawn.
You may have to pay a tax penalty if you take a withdrawal before age
59½. |
Taxes | ||
5
| |
CONFLICTS OF INTEREST |
Location in
Prospectus | ||
| How Are
Investment
Professionals
Compensated? |
Your financial representative may receive compensation for selling
this contract to you in the form of commissions,
additional cash compensation, and/or non-cash compensation. We may share the revenue we earn on this contract with your financial representative’s firm.
Revenue sharing arrangements and commissions may provide selling firms
and/or their registered representatives with an
incentive to favor sales of our contracts over other
variable annuity contracts (or other investments) with respect to
which a selling firm does not receive the same level of
additional compensation. You should ask your financial
representative about how they are compensated. |
Payments in Connection with Distribution of the Contract | ||
| Should I
Exchange My
Contract? |
Some financial representatives may have a financial incentive to offer
you a new contract in place of the one you already own.
You should exchange a contract you already own only 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. | |||
6
Appendix A – Investment Options Available Under The Contract
Underlying Funds
The following is a list of Underlying Funds available under the contract.
More information about the Underlying Funds is available in the prospectuses for the Underlying Funds, which may be amended from time to time and can be found online at
www.corebridgefinancial.com/ProductProspectuses. You can also request this information
at no cost by calling (855) 421-2692. Depending on the optional benefits you choose,
you may not be able to invest in certain Underlying Funds. See
“Investment Requirements For Optional Living Benefits” in this appendix.
The current expenses and performance information below reflect fees and expenses of the Underlying Funds, 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 Underlying Fund’s past performance is not necessarily an indication of future performance.
| Type |
Underlying Fund – Share Class
Advisor
Subadvisor (if applicable) |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1 Year |
5 Year |
10 Year | |||
| Asset
Allocation |
Franklin Allocation VIP Fund – Class 2 Franklin Advisers, Inc. |
0.82%* |
12.60% |
5.73% |
7.32% |
| |
Franklin Income VIP Fund – Class 2 Franklin Advisers, Inc. |
0.72% |
12.56% |
7.66% |
7.30% |
| |
SA Allocation Aggressive Portfolio – Class 3 SunAmerica Asset Management, LLC |
1.03%* |
15.84% |
8.05% |
9.34% |
| |
SA Allocation Balanced Portfolio – Class 3 SunAmerica Asset Management, LLC |
1.00%* |
10.96% |
3.91% |
5.79% |
| |
SA Allocation Moderate Portfolio – Class 3 SunAmerica Asset Management, LLC |
1.01%* |
12.52% |
5.48% |
7.20% |
| |
SA Allocation Moderately Aggressive Portfolio – Class 3 SunAmerica Asset Management, LLC |
1.01%* |
14.13% |
6.52% |
8.07% |
| |
SA American Funds Asset Allocation Portfolio1 – Class 3
SunAmerica Asset Management, LLC
Capital Research and Management Company
|
0.80%* |
15.57% |
8.70% |
9.48% |
| |
SA JPMorgan Diversified Balanced Portfolio – Class 3 SunAmerica Asset Management, LLC J.P. Morgan Investment Management Inc. |
0.99%* |
12.65% |
5.80% |
7.27% |
| |
SA MFS Total Return Portfolio – Class 3 SunAmerica Asset Management, LLC Massachusetts Financial Services Company |
0.96% |
10.69% |
6.03% |
7.26% |
| Bond |
PIMCO Emerging Markets Bond Portfolio – Advisor Class Pacific Investment Management Company, LLC |
1.27% |
14.86% |
2.34% |
4.96% |
| |
PIMCO Total Return Portfolio – Advisor Class Pacific Investment Management Company, LLC |
0.83% |
8.78% |
-0.08% |
2.26% |
| |
SA American Century Inflation Managed Portfolio – Class 3 SunAmerica Asset Management, LLC American Century Investment Management, Inc. |
0.85% |
6.21% |
0.63% |
2.06% |
| |
SA Federated Hermes Corporate Bond Portfolio – Class 3 SunAmerica Asset Management, LLC Federated Investment Management Company |
0.80% |
6.78% |
0.15% |
3.46% |
| |
SA Fixed Income Index Portfolio – Class 3 SunAmerica Asset Management, LLC BlackRock Investment Management, LLC |
0.59%* |
6.05% |
-0.84% |
N/A |
| |
SA Fixed Income Intermediate Index Portfolio – Class 3 SunAmerica Asset Management, LLC BlackRock Investment Management, LLC |
0.59%* |
6.04% |
0.72% |
N/A |
| |
SA Goldman Sachs Government and Quality Bond Portfolio2
– Class 3
SunAmerica Asset Management, LLC
Goldman Sachs Asset Management L.P.2 |
0.84% |
6.31% |
-1.02% |
1.21% |
A-1
| Type |
Underlying Fund – Share Class
Advisor
Subadvisor (if applicable) |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1 Year |
5 Year |
10 Year | |||
| Bond
(continued) |
SA JPMorgan MFS Core Bond Portfolio – Class 3 SunAmerica Asset Management, LLC J.P. Morgan Investment Management Inc. and Massachusetts
Financial Services Company |
0.78%* |
6.98% |
-0.17% |
2.19% |
| |
SA JPMorgan Ultra-Short Bond Portfolio – Class 3 SunAmerica Asset Management, LLC J.P. Morgan Investment Management Inc. |
0.80% |
4.39% |
2.20% |
1.45% |
| |
SA PIMCO Global Bond Opportunities Portfolio – Class 3 SunAmerica Asset Management, LLC Pacific Investment Management Company, LLC |
1.18%* |
8.72% |
-3.61% |
0.35% |
| |
SA PineBridge High-Yield Bond Portfolio – Class 3 SunAmerica Asset Management, LLC PineBridge Investments, LLC |
1.01% |
8.16% |
5.05% |
6.94% |
| Cash |
Goldman Sachs VIT Government Money Market Fund – Service Shares Goldman Sachs Asset Management, L.P. |
0.43%* |
3.94% |
2.98% |
1.90% |
| Stock |
Invesco V.I. American Franchise Fund – Series II Invesco Advisers, Inc. |
1.10% |
11.39% |
10.08% |
14.58% |
| |
Invesco V.I. Comstock Fund – Series II Invesco Advisers, Inc. |
1.00% |
17.14% |
15.14% |
11.67% |
| |
Invesco V.I. Growth and Income Fund – Series II Invesco Advisers, Inc. |
1.00% |
15.30% |
12.56% |
10.46% |
| |
Lord Abbett Growth and Income Portfolio – Class VC Lord, Abbett & Co. LLC |
0.93% |
17.29% |
13.35% |
11.12% |
| |
SA AB Growth Portfolio – Class 3 SunAmerica Asset Management, LLC AllianceBernstein L.P. |
0.88% |
12.79% |
11.67% |
15.85% |
| |
SA AB Small & Mid Cap Value Portfolio – Class 3 SunAmerica Asset Management, LLC AllianceBernstein L.P. |
1.16%* |
2.32% |
8.36% |
8.27% |
| |
SA American Funds Global Growth Portfolio1 – Class 3
SunAmerica Asset Management, LLC
Capital Research and Management Company
|
0.95%* |
21.35% |
7.94% |
11.86% |
| |
SA American Funds Growth Portfolio1 – Class 3
SunAmerica Asset Management, LLC
Capital Research and Management Company
|
0.85%* |
19.91% |
13.07% |
17.65% |
| |
SA American Funds Growth-Income Portfolio1 – Class 3
SunAmerica Asset Management, LLC
Capital Research and Management Company
|
0.82%* |
17.67% |
13.57% |
13.59% |
| |
SA BlackRock Advantage International Portfolio3 – Class 3
SunAmerica Asset Management, LLC
BlackRock Investment Management, LLC3 |
1.12%* |
20.99% |
5.23% |
6.11% |
| |
SA Fidelity Institutional AM Global Equities Portfolio4 – Class 3
SunAmerica Asset Management, LLC
FIAM LLC4 |
1.07%* |
21.87% |
13.53% |
11.10% |
| |
SA Fidelity Institutional AM Real Estate Portfolio – Class 3 SunAmerica Asset Management, LLC FIAM LLC |
1.10% |
1.25% |
4.65% |
5.18% |
| |
SA Franklin BW U.S. Large Cap Value Portfolio – Class 3 SunAmerica Asset Management, LLC Brandywine Global Investment Management, LLC |
0.95%* |
16.83% |
13.57% |
11.32% |
| |
SA Franklin Small Company Value Portfolio – Class 3 SunAmerica Asset Management, LLC Franklin Mutual Advisers, LLC |
1.25%* |
6.14% |
8.32% |
9.41% |
A-2
| Type |
Underlying Fund – Share Class
Advisor
Subadvisor (if applicable) |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1 Year |
5 Year |
10 Year | |||
| Stock
(continued) |
SA Franklin Systematic U.S. Large Cap Value Portfolio – Class 3 SunAmerica Asset Management, LLC Franklin Advisers, Inc. |
0.89% |
16.68% |
11.52% |
12.31% |
| |
SA Invesco Growth Opportunities Portfolio – Class 3 SunAmerica Asset Management, LLC Invesco Advisers, Inc. |
1.07% |
5.92% |
-0.96% |
8.86% |
| |
SA Janus Focused Growth Portfolio – Class 3 SunAmerica Asset Management, LLC Janus Capital Management, LLC |
1.05%* |
18.04% |
11.40% |
15.34% |
| |
SA JPMorgan Emerging Markets Portfolio – Class 3 SunAmerica Asset Management, LLC J.P. Morgan Investment Management Inc. |
1.41%* |
36.00% |
4.37% |
8.15% |
| |
SA JPMorgan Equity-Income Portfolio – Class 3 SunAmerica Asset Management, LLC J.P. Morgan Investment Management Inc. |
0.84% |
14.31% |
10.52% |
10.81% |
| |
SA JPMorgan Large Cap Core Portfolio – Class 3 SunAmerica Asset Management, LLC J.P. Morgan Investment Management Inc. |
0.94%* |
14.15% |
12.71% |
12.44% |
| |
SA JPMorgan Mid-Cap Growth Portfolio – Class 3 SunAmerica Asset Management, LLC J.P. Morgan Investment Management Inc. |
1.02%* |
7.86% |
3.99% |
11.89% |
| |
SA MFS Large Cap Growth Portfolio – Class 3 SunAmerica Asset Management, LLC Massachusetts Financial Services Company |
0.93% |
16.39% |
14.85% |
15.87% |
| |
SA MFS Massachusetts Investors Trust Portfolio – Class 3 SunAmerica Asset Management, LLC Massachusetts Financial Services Company |
0.95%* |
13.52% |
11.20% |
12.37% |
| |
SA PIMCO RAE International Value Portfolio – Class 3 SunAmerica Asset Management, LLC Pacific Investment Management Company, LLC |
1.09%* |
35.91% |
10.00% |
5.99% |
| |
SA Putnam International Value Portfolio – Class 3 SunAmerica Asset Management, LLC Putnam Investment Management, LLC |
1.18%* |
34.95% |
12.59% |
8.79% |
| |
SA Wellington Capital Appreciation Portfolio – Class 3 SunAmerica Asset Management, LLC Wellington Management Company LLP |
0.98% |
14.26% |
8.54% |
15.75% |
| Volatility
Control |
SA American Funds VCP Managed Allocation Portfolio1 – Class 3
SunAmerica Asset Management, LLC
Capital Research and Management Company
|
1.15%* |
10.83% |
7.40% |
7.96% |
| |
SA Schroders VCP Global Allocation Portfolio – Class 3 SunAmerica Asset Management, LLC Schroder Investment Management North America |
1.16%* |
12.32% |
5.73% |
N/A |
| |
SA T. Rowe Price VCP Balanced Portfolio – Class 3 SunAmerica Asset Management, LLC T. Rowe Price Associates, Inc. |
1.09% |
15.97% |
6.81% |
N/A |
| |
SA VCP Dynamic Allocation Portfolio – Class 3 SunAmerica Asset Management, LLC AllianceBernstein L.P. |
1.01% |
11.13% |
5.34% |
7.51% |
| |
SA VCP Dynamic Strategy Portfolio – Class 3 SunAmerica Asset Management, LLC AllianceBernstein L.P. |
1.03% |
10.89% |
5.66% |
7.19% |
* This Underlying Fund is subject to an expense reimbursement or fee waiver arrangement resulting in a temporary expense reduction. See the Underlying Fund prospectus for additional information.
A-3
1
Capital Research and Management Company is the investment adviser of the master
fund in which this Underlying Fund (Master-Feeder Fund) invests. Under a master-feeder fund structure, the feeder fund does not buy individual securities directly.
Rather, the feeder fund invests all of its investment assets in a corresponding master fund, which invests directly in individual securities.
2
On July 28, 2025, SA Wellington Government and Quality Bond Portfolio was renamed SA Goldman Sachs Government and Quality Bond Portfolio and Goldman Sachs Asset Management L.P. became its subadvisor.
3
On May 1, 2026, SA Morgan Stanley International Equities Portfolio was renamed SA
BlackRock Advantage International Portfolio and BlackRock Investment Management, LLC became its subadvisor.
4
On July 28, 2025, SA JPMorgan Global Equities Portfolio was renamed SA Fidelity Institutional AM Global Equities Portfolio and FIAM LLC became its subadvisor.
Fixed Accounts
The following is a list of Fixed Accounts currently available under the contract. We may change the features of the Fixed Accounts listed below, offer new Fixed Accounts, and terminate existing Fixed Accounts. We will provide you with written notice before doing so.
See INVESTMENT OPTIONS - FIXED ACCOUNTS in the prospectus for a description of the
Fixed Accounts' features.
| Name |
Terms |
Minimum Guaranteed Interest Rate |
| 1-Year Fixed Account |
1-Year |
1% |
| Dollar Cost Averaging Fixed Account |
6-Month, 12-Month, 2-Year* |
1% |
| Secure Value Account** |
1-Year |
1% |
* The 2-Year term for the Dollar Cost Averaging Fixed Account is not available for contracts issued on or after July 22, 2013.
** If you elect a Living Benefit, a certain
percentage (either 10% or 20%) of your investment will automatically be allocated to the Secure Value Account. Amounts allocated to the Secure Value Account may
not be transferred to any other investment option. You may not transfer into or out of the Secure Value Account.
INVESTMENT REQUIREMENTS FOR OPTIONAL LIVING BENEFITS
If you elected an optional Living Benefit, your contract is subject to investment requirements, as
reflected below. Depending on the optional Living Benefit you elected, you may not be
able to invest in certain investment options. If you did not elect any optional benefits, or if the only optional benefit you elected is a death benefit, your contract is not subject to investment
requirements.
This section contains the current
investment requirements for the optional Living Benefit that we are offering to
investors, including:
•
Polaris Income Plus
Polaris Income Plus
If your contract was purchased between May 2, 2022 and December 15, 2024, and you elected Polaris Income Plus, you must allocate your assets in accordance with the following:
| 10% Secure Value Account |
90% in one or more of the following Variable Portfolios, except as otherwise noted: Goldman Sachs VIT Government Money Market
Fund
PIMCO Total Return
SA American Century Inflation Managed
SA American Funds VCP Managed Allocation*
SA Federated Hermes Corporate Bond
SA Fixed Income Index
SA Fixed Income Intermediate Index
SA Goldman Sachs Government and Quality Bond
SA JPMorgan MFS Core Bond
SA JPMorgan Ultra-Short Bond
SA PIMCO Global Bond Opportunities
SA Schroders VCP Global Allocation*
SA T. Rowe Price VCP Balanced*
SA VCP Dynamic Allocation
SA VCP Dynamic Strategy
*You may invest up to a maximum of 50% in each of these Variable Portfolios. |
A-4
If your contract
was issued between August 27, 2018 and May 1, 2022, and you elected the optional Polaris Income Plus Income Option with Dynamic Allocation Living Benefit, you must allocate your assets in accordance with the following:
| 10% Secure Value Account |
90% in one or more of the following Variable Portfolios, except as otherwise noted: Goldman Sachs VIT Government Money Market
Fund
PIMCO Total Return
SA American Century Inflation Manged
SA American Funds VCP Managed Allocation*
SA Federated Hermes Corporate Bond
SA Fixed Income Index
SA Fixed Income Intermediate Index
SA Goldman Sachs Government and Quality Bond
SA JPMorgan MFS Core Bond
SA JPMorgan Ultra-Short Bond
SA PIMCO Global Bond Opportunities
SA Schroders VCP Global Allocation*
SA T. Rowe Price VCP Balanced*
SA VCP Dynamic Allocation
SA VCP Dynamic Strategy
*You may invest up to a maximum of 50% in each of these Variable Portfolios. |
If your contract was issued between July 22, 2013 and August 26, 2018, and you elected the optional Polaris Income Plus Option with Dynamic Allocation Living Benefit, you must allocate your assets in accordance with the following:
| 20% Secure Value Account |
80% in one or more of the following Variable Portfolios, except as otherwise noted: Goldman Sachs VIT Government Money Market
Fund
SA American Century Inflation Managed
SA American Funds VCP Managed Allocation*
SA Federated Hermes Corporate Bond
SA Fixed Income Index
SA Fixed Income Intermediate Index SA Goldman Sachs Government and Quality Bond SA JPMorgan MFS Core Bond SA JPMorgan Ultra-Short Bond SA PIMCO Global Bond Opportunities SA Schroders VCP Global Allocation* SA T. Rowe Price VCP Balanced* SA VCP Dynamic Allocation SA VCP Dynamic Strategy *You may invest up to a maximum of 50% in each of these Variable Portfolios. |
If your contract
was issued between July 16, 2012 and July 21, 2013, and you elected the optional Polaris Income Plus Option with Dynamic Allocation Living Benefit, you must allocate your assets in accordance with the following:
| 20% Secure Value Account |
80% in one or more of the following Variable Portfolios: SA American Century Inflation Managed
SA American Funds VCP Managed Allocation*
SA Federated Hermes Corporate Bond
SA Fixed Income Index
SA Fixed Income Intermediate Index SA Goldman Sachs Government and Quality Bond SA JPMorgan MFS Core Bond SA JPMorgan Ultra-Short Bond SA PIMCO Global Bond Opportunities SA Schroders VCP Global Allocation* SA T. Rowe Price VCP Balanced* SA VCP Dynamic Allocation SA VCP Dynamic Strategy *You may invest up to a maximum of 50% in each of these Variable Portfolios |
If you elected the Polaris Income Plus Income
Option with Custom Allocation, you must allocate your assets in
accordance with one of three Check-the-Box Options or the Build-Your-Own Option
below:
Custom Allocation – Check-the-Box
Option 1-3
After allocating 10% in the Secure Value
Account, the remaining 90% of assets can be invested in accordance with Option 1, 2 or
3:
| Check-The-Box
Option 1 |
90% in one of the three available Allocations*: Allocation 1, 2 or
3 *Please see POLARIS PORTFOLIO ALLOCATOR PROGRAM AND 50%-50% COMBINATION MODEL PROGRAM FOR CONTRACTS ISSUED PRIOR TO FEBRUARY 6, 2017 later in this Appendix for the allocations for the formerly available Polaris Portfolio Allocator Models. |
| Check-The-Box
Option 2 |
90% in one or more of the following
Variable Portfolios: Franklin Income VIP
Fund SA Allocation Balanced
SA Allocation Moderate
SA Allocation Moderately Aggressive
SA American Funds Asset Allocation
SA JPMorgan Diversified Balanced
SA MFS Total Return
SA VCP Dynamic Allocation
SA VCP Dynamic Strategy |
| Check-The-Box Option 3 |
90% in the SA JPMorgan Ultra-Short Bond |
A-5
Custom
Allocation — Build-Your-Own Option
After allocating 10% in
the Secure Value Account, the remaining 90% of Purchase Payments can be allocated in
accordance with the following:
| Investment
Group |
Investment
Requirement |
Variable Portfolios
and/or DCA Fixed Accounts |
| A. Bond,
Cash and
DCA Fixed
Accounts |
Minimum 20%
Maximum 90% |
SA American Century Inflation Managed SA Federated Hermes Corporate Bond SA Goldman Sachs Government and Quality Bond SA JPMorgan MFS Core Bond SA JPMorgan Ultra-Short Bond SA PIMCO Global Bond Opportunities DCA FIXED ACCOUNTS* 6-Month DCA 1-Year DCA 2-Year DCA |
| Investment
Group |
Investment
Requirement |
Variable Portfolios
and/or DCA Fixed Accounts |
| B. Equity** |
Minimum 0%
Maximum 70% |
Franklin Allocation VIP Fund
Franklin Income VIP Fund
Invesco V.I. American Franchise
Fund
Invesco V.I. Comstock Fund
Invesco V.I. Growth and Income
Fund
Lord Abbett Growth and Income
SA AB Growth
SA AB Small & Mid Cap Value
SA Allocation Aggressive
SA Allocation Balanced
SA Allocation Moderate
SA Allocation Moderately
Aggressive
SA American Funds Asset
Allocation
SA American Funds Global
Growth
SA American Funds Growth
SA American Funds
Growth-Income
SA BlackRock Advantage
International
SA Fidelity Institutional AM
Global Equities
SA Franklin BW U.S. Large
Cap Value
SA Franklin Systematic
U.S. Large Cap Value
SA Janus Focused Growth
SA JPMorgan Diversified
Balanced
SA JPMorgan Equity-Income
SA JPMorgan Large Cap Core
SA JPMorgan Mid-Cap Growth
SA MFS Large Cap Growth
SA MFS Massachusetts
Investors Trust
SA MFS Total Return
SA PIMCO RAE International
Value SA PineBridge High-Yield Bond SA Putnam International Value SA VCP Dynamic Allocation SA VCP Dynamic Strategy SA Wellington Capital Appreciation |
| C. Limited
Equity |
Minimum 0%
Maximum 10% |
SA American Funds VCP Managed Allocation SA Fidelity Institutional AM Real Estate SA Franklin Small Company Value SA Invesco Growth Opportunities SA JPMorgan Emerging Markets |
*
You may use a DCA Fixed Account to invest your target allocations in accordance with the investment requirements.
**
Not all funds listed in the Equity group invest in equity markets.
A-6
If your contract
was purchased prior to July 16, 2012 and you elected the Polaris Income Plus, the following investment requirements are
applicable.
Investment Requirements for Polaris Income
Plus
After allocating 10% in the Secure Value Account,
the remaining 90% of Eligible Purchase Payments (“Flexible Allocation”)
must be invested in accordance with three Check-the-Box Options or the Build-Your-Own Option below:
Flexible Allocation — Check-the-Box Options 1-3
| Check-the-Box
Option 1 |
90% in one of the three available Allocations*: Allocation 1, 2 or
3 *Please see POLARIS PORTFOLIO ALLOCATOR PROGRAM AND 50%-50% COMBINATION MODEL PROGRAM FOR CONTRACTS ISSUED PRIOR TO FEBRUARY 6, 2017 later in this Appendix for the allocations for the formerly available Polaris Portfolio Allocator Models. |
| Check-the-Box
Option 2 |
90% in one or more of the following Variable Portfolios: Franklin Income VIP Fund
SA Allocation Balanced
SA Allocation Moderate
SA Allocation Moderately Aggressive
SA American Funds Asset Allocation
SA JPMorgan Diversified Balanced
SA MFS Total Return SA VCP Dynamic Allocation SA VCP Dynamic Strategy |
| Check-the-Box
Option 3 |
90% in the SA JPMorgan Ultra-Short Bond |
Flexible Allocation — Build-Your-Own Option 4
| Investment
Group |
Investment
Requirement |
Variable Portfolios
and/or DCA Fixed Accounts |
| A. Bond,
Cash and
DCA Fixed
Accounts |
Minimum 20%
Maximum 90% |
SA American Century Inflation Managed SA Federated Hermes Corporate Bond SA Goldman Sachs Government and Quality Bond SA JPMorgan MFS Core Bond SA JPMorgan Ultra-Short Bond SA PIMCO Global Bond Opportunities DCA FIXED ACCOUNTS* 6-Month DCA 1-Year DCA 2-Year DCA |
| Investment
Group |
Investment
Requirement |
Variable Portfolios
and/or DCA Fixed Accounts |
| B. Equity** |
Minimum 0%
Maximum 70% |
Franklin Allocation VIP Fund
Franklin Income VIP Fund
Invesco V.I. American Franchise
Fund
Invesco V.I. Comstock Fund
Invesco V.I. Growth and Income
Fund
Lord Abbett Growth and Income
SA AB Growth
SA AB Small & Mid Cap Value
SA Allocation Aggressive
SA Allocation Balanced
SA Allocation Moderate
SA Allocation Moderately
Aggressive
SA American Funds Asset
Allocation
SA American Funds Global
Growth
SA American Funds Growth
SA American Funds
Growth-Income
SA BlackRock Advantage
International
SA Fidelity Institutional AM
Global Equities
SA Franklin BW U.S. Large
Cap Value
SA Franklin Systematic
U.S. Large Cap Value
SA Janus Focused Growth
SA JPMorgan Diversified
Balanced
SA JPMorgan Equity-Income
SA JPMorgan Large Cap Core
SA JPMorgan Mid-Cap Growth
SA MFS Large Cap Growth
SA MFS Massachusetts
Investors Trust
SA MFS Total Return
SA PIMCO RAE International
Value SA PineBridge High-Yield Bond SA Putnam International Value SA VCP Dynamic Allocation SA VCP Dynamic Strategy SA Wellington Capital Appreciation |
| C. Limited
Equity |
Minimum 0%
Maximum 10% |
SA American Funds VCP Managed Allocation SA Fidelity Institutional AM Real Estate SA Franklin Small Company Value SA Invesco Growth Opportunities SA JPMorgan Emerging Markets |
*
You may use a DCA Fixed Account to invest your target allocations in accordance with the investment requirements.
**
Not all funds listed in the Equity group invest in equity markets.
A-7
POLARIS PORTFOLIO ALLOCATOR
PROGRAM and 50%-50% combination model program FOR CONTRACTS ISSUED PRIOR TO
FEBRUARY 6, 2017
Effective on February 6, 2017, the
Polaris Allocator Program is no longer offered.
If you invested in a Polaris Portfolio Allocator Model prior to February 6, 2017,
you will remain invested in the same Variable Portfolios and in the same amounts and weights as before the Polaris Portfolio Allocator Program was terminated; however, the investment will no longer be considered to be a Polaris Portfolio Allocator Model and you may no longer trade into a Polaris Portfolio Allocator Model. Any active asset rebalancing or dollar cost averaging programs will continue according to your current allocations on file. You should speak with your financial representative about how to keep the Variable Portfolio allocations in each Portfolio Allocator Model in line with your investment goals over time.
If you elected a Living Benefit which allowed Polaris
Portfolio Allocator Models as part of the investment requirements, you
may trade out of your allocation at any time into any investment that meets your living benefit’s investment requirements, including the asset allocation of the
Variable Portfolios listed in the table below (“Allocations”). After the termination effective date, only the asset allocation of the Variable Portfolios of
your current model or the Allocations below will meet the investment requirements for living benefits which previously allowed Polaris Portfolio Allocator Models.
Allocations (effective February 6, 2017)
| Variable Portfolios |
Allocation
1 |
Allocation
2 |
Allocation
3 |
Allocation
4 |
| Invesco V.I. Comstock Fund |
5.00% |
5.00% |
6.00% |
8.00% |
| Invesco V.I. Growth and Income Fund |
6.00% |
7.00% |
8.00% |
8.00% |
| SA AB Growth |
3.00% |
4.00% |
4.00% |
6.00% |
| SA AB Small & Mid Cap Value |
1.00% |
1.00% |
1.00% |
2.00% |
| SA American Century Inflation Managed Protection |
5.00% |
3.00% |
2.00% |
0.00% |
| SA American Funds Global Growth |
2.00% |
3.00% |
4.00% |
6.00% |
| SA American Funds Growth-Income |
0.00% |
0.00% |
1.00% |
4.00% |
| SA BlackRock Advantage International |
3.00% |
3.00% |
4.00% |
5.00% |
| SA Federated Hermes Corporate Bond |
10.00% |
8.00% |
7.00% |
1.00% |
| SA Fidelity Institutional AM Real Estate |
0.00% |
0.00% |
0.00% |
1.00% |
| SA Franklin BW U.S. Large Cap Value |
4.00% |
4.00% |
4.00% |
5.00% |
| SA Franklin Small Company Value |
0.00% |
2.00% |
2.00% |
1.00% |
| SA Franklin Systematic U.S. Large Cap Value |
3.00% |
3.00% |
3.00% |
5.00% |
| SA Goldman Sachs Government and Quality Bond |
8.00% |
8.00% |
7.00% |
2.00% |
| SA Janus Focused Growth |
0.00% |
1.00% |
1.00% |
2.00% |
| SA JPMorgan Emerging Markets |
0.00% |
1.00% |
2.00% |
2.00% |
| SA JPMorgan Equity-Income |
6.00% |
7.00% |
8.00% |
8.00% |
| SA JPMorgan Large Cap Core |
3.00% |
4.00% |
4.00% |
6.00% |
| SA JPMorgan MFS Core Bond |
17.00% |
13.00% |
10.00% |
5.00% |
| SA JPMorgan Ultra-Short Bond |
2.00% |
1.00% |
0.00% |
0.00% |
| SA MFS Large Cap Growth |
2.00% |
3.00% |
4.00% |
4.00% |
| SA MFS Massachusetts Investors Trust |
6.00% |
6.00% |
7.00% |
8.00% |
| SA PIMCO Global Bond Opportunities |
4.00% |
4.00% |
2.00% |
2.00% |
| SA PIMCO RAE International Value |
3.00% |
3.00% |
3.00% |
4.00% |
| SA PineBridge High-Yield Bond |
4.00% |
3.00% |
2.00% |
0.00% |
| SA Wellington Capital Appreciation |
3.00% |
3.00% |
4.00% |
5.00% |
| Total |
100% |
100% |
100% |
100% |
Effective on February 6, 2017, the Combination Model Program will no longer be offered.
If you invested in a Combination Model prior to February
6, 2017, you will remain invested in the same Variable Portfolios and in the same
amounts and weights as before the Polaris Portfolio Allocator Program was terminated; however, the investment will no longer be considered to be a 50%-50% Combination
Model and you may no longer trade into any other Combination Model. Any active asset rebalancing or dollar cost averaging programs will continue according to your
current allocations on file. You should speak with your financial representative about how to keep the Variable Portfolio allocations in
each Portfolio Allocator Model in line with your investment goals over time.
A-8
*
* *
This summary prospectus incorporates by reference the prospectus and statement of additional information (SAI) for the contract, both dated May 1, 2026, as may be amended or supplemented from time to time. The SAI may be obtained, free of charge, in the same manner as the prospectus.
EDGAR Contract Identifiers: C000111567
A-9
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