Form 497VPU SBL VARIABLE ANNUITY

May 5, 2026 3:21 PM EDT
SECUREDESIGNS® VARIABLE ANNUITY
May 1, 2026
Individual Flexible Purchase Payment Deferred Variable Annuity Contract
SBL Variable Annuity Account XIV
Updating Summary Prospectus for Existing Investors
Issued By:
Mailing Address:
Security Benefit Life Insurance Company
One Security Benefit Place
Topeka, Kansas 66636-0001
1-800-888-2461
www.securitybenefit.com
Security Benefit Life Insurance Company
P.O. Box 750497
Topeka, Kansas 66675-0497
This Updating Summary Prospectus describes the SecureDesigns Variable Annuity (the “Contract”), which is an Individual Flexible Purchase Payment Deferred Variable Annuity Contract issued by Security Benefit Life Insurance Company (the “Company”). This Updating Summary Prospectus is used with current owners.
The Prospectus of the Contract contains more information about the Contract, including its features, benefits and risks. You can find the current Prospectus and other information about the Contract online at https://vpx.broadridge.com/GetContract1.asp?doctype=pros&cid=sblife&fid=814121612. You can also obtain this information at no cost by calling 1-800-888-2461 or by sending an email request to [email protected].
The Contract is a complex investment and involves risks, including potential loss of principal. The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. Withdrawals could result in surrender charges, taxes, and tax penalties. Our obligations under the Contract are subject to our financial strength and claims-paying ability.
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.
SB-10009-27 2026/05/01
Special Terms
Various terms commonly used in this Updating Summary Prospectus are defined as follows:
Bonus Credit — An amount added to Contract Value under the Automatic Bonus Credit Rider.
Company — Security Benefit Life Insurance Company. The Company is also identified herein as “we,” “our,” or “us.”
Contract — The flexible purchase payment deferred variable annuity contract described in this Updating Summary Prospectus.
Contract Date — The date the Contract begins as shown in your Contract. Contract anniversaries are measured from the Contract Date. The Contract Date is usually the date that the initial Purchase Payment is credited to the Contract.
Contract Value — The total value of your Contract which includes amounts allocated to the Subaccounts and the Fixed Account as well as any amount set aside in the Loan Account to secure loans as of any Valuation Date.
Fixed Account — An account that is part of the Company’s General Account to which you may allocate all or a portion of your Contract Value to be held for accumulation at fixed rates of interest (which may not be less than the Guaranteed Rate) declared periodically by the Company. The Fixed Account is not available in all states and is not available if you have purchased the Extra Credit Rider at 3%, 4% or 5%, the 0-Year or 4-Year Alternate Withdrawal Charge Rider (or the 3-Year Alternate Withdrawal Charge in states where the 4-Year Alternate Withdrawal Charge is not approved), or the Guaranteed Lifetime Withdrawal Benefit Rider.
Internal Revenue Code or the Code — The Internal Revenue Code of 1986, as amended.
Owner — The person entitled to the ownership rights under the Contract and in whose name the Contract is issued.
Purchase Payment — An amount initially paid to the Company as consideration for the Contract and any subsequent amounts paid to the Company under the Contract.
Separate Account — SBL Variable Annuity Account XIV, a separate account of the Company that consists of accounts, referred to as Subaccounts, each of which invests in a corresponding Underlying Fund.
Subaccount — A division of the Separate Account which invests in a corresponding Underlying Fund.
Underlying Fund — A mutual fund or series thereof that serves as an investment vehicle for its corresponding Subaccount.
Updated Information About Your Contract
The following is a summary of certain Contract features that have changed since May 1, 2025, the date of the last Prospectus. This does not reflect all of the changes that have occurred since you entered into your Contract.
Summary of Recent Contract Changes:
There have been no changes to the features of the Contract since the Prospectus dated May 1, 2025. Information about the Underlying Funds, including certain fund name and adviser changes, is included in Appendix A to this Updating Summary Prospectus.
3
Important Information You Should Consider About the Contract
 
FEES, EXPENSES AND ADJUSTMENTS
Location in Prospectus
Are There
Charges or
Adjustments for
Early
Withdrawals?
Yes. If you withdraw money from your Contract within 7 years following your
last Purchase Payment, you may be assessed a surrender charge of up to 7%
(as a percentage of the portion of the withdrawal amount consisting of
Purchase Payments, including any Bonus Credits paid), declining to 0% in the
eighth year.
For example, if you were to withdraw $100,000 during a surrender charge
period, you would be assessed a charge of up to $7,000. This loss will be
greater if there are taxes or tax penalties.
Fee Table
Fee Table – Examples
Charges and Deductions
– Contingent Deferred
Sales Charge
Are There
Transaction
Charges?
No. Other than surrender charges (if any), there are no charges for other
transactions (e.g., transferring money between investment options).
Not Applicable
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. Interest on any Contract loans is not reflected. The fees
and expenses do not reflect any advisory fees paid to financial intermediaries
from your Contract Value or other assets. If such charges were reflected, the
fees and expenses would be higher. Please refer to your Contract specifi-
cations page for information about the specific fees you will pay each year
based on the options you have elected.
Fee Table
Fee Table – Examples
Charges and Deductions
– Mortality and Expense
Risk Charge
Charges and Deductions
– Administration Charge
Charges and Deductions
– Account Adminis-
tration Charge
Charges and Deductions
– Optional Rider Charges
Appendix A – Underlying
Funds Available Under
the Contract
Annual Fee
Minimum
Maximum
Base Contract1
0.76%
1.01%
(Underlying Fund fees and expenses)2
0.46%
3.38%
Optional benefits available for an additional charge3
(for a single optional benefit, if elected)
0.05%
1.25%
1
As a percentage of Contract Value allocated to the Separate Account. This amount
includes the account administration charge.
2
As a percentage of Underlying Fund average net assets.
3
As a percentage of Contract Value.
 
Because your Contract is customizable, the choices you make affect how much
you will pay. To help you understand the cost of owning your Contract, the
following table shows the lowest and highest cost you could pay each year
based on current charges. This estimate assumes that you do not take
withdrawals from the Contract, which could add surrender charges that
substantially increase costs.
 
Lowest Annual Cost: $1,122.28
Highest Annual Cost: $4,228.07
Assumes:
●Investment of $100,000
●5% annual appreciation
●Least expensive combination of
Base Contract charge and
Underlying Fund fees and
expenses
●No optional benefits
●No sales charges or advisory fees
●No additional Purchase Payments,
transfers or withdrawals
●No Contract loans
●No Credit Enhancement amounts
Assumes:
●Investment of $100,000
●5% annual appreciation
●Most expensive combination of Base
Contract charge, optional benefits,
and Underlying Fund fees and
expenses
●No sales charges or advisory fees
●No additional Purchase Payments,
transfers or withdrawals
●No Contract loans
●No Credit Enhancement amounts
 
RISKS
Location in Prospectus
Is There a Risk
of Loss from
Poor
Performance?
Yes. You can lose money by investing in this Contract, including loss of
principal.
Principal Risks of
Investing in the Contract
4
Is this a
Short-Term
Investment?
No.
●This Contract is not designed for short-term investing and is not appropriate
for an investor who needs ready access to cash.
●Surrender charges, taxes and tax penalties may apply to withdrawals. If you
take a withdrawal, a surrender charge may reduce the value of your
Contract or the amount of money that you actually receive. Withdrawals may
also reduce or terminate Contract guarantees and may result in taxes and
tax penalties.
●The benefits of tax deferral, long-term income, and living benefit guarantees
mean the Contract is more beneficial to investors with a long time horizon.
Charges and Deductions
– Contingent Deferred
Sales Charge
The Contract – General
What are the
Risks
Associated with
the Investment
Options?
●An investment in this Contract is subject to the risk of poor investment
performance. Performance can vary depending on the performance of the
Investment Options that you choose under the Contract.
●Each investment option (including the Fixed Account, if available) has its
own unique risks.
●You should review the Investment Options before making an investment
decision.
Appendix A – Underlying
Funds Available Under
the Contract
What are the
Risks Related to
the Insurance
Company?
An investment in the Contract is subject to the risks related to us, Security
Benefit Life Insurance Company. 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 Security Benefit Life
Insurance Company, including our financial strength ratings, is available upon
request by calling 1-800-888-2461 or visiting www.securitybenefit.com.
Information About the
Company, the Separate
Account, and the
Underlying Funds –
Security Benefit Life
Insurance Company
 
RESTRICTIONS
Location in Prospectus
Are There
Restrictions on
the Investment
Options?
Yes.
●Certain investment options may not be available under your Contract.
●Certain Subaccounts prohibit you from transferring out and back within a
period of calendar days.
●We reserve the right to limit your transfers to 14 in a Contract Year, to
suspend transfers and limit the transfer amounts, and to limit transfers in
circumstances of frequent or large transfers.
●There are certain restrictions on transfers between the Fixed Account and
Subaccounts.
●We reserve the right to add, remove or substitute the Underlying Funds
available as investment options under the Contract.
●We reserve the right to refuse any Purchase Payment, to further limit your
ability to make subsequent Purchase Payments with advance notice, and to
require our prior approval before accepting Purchase Payments.
The Contract – Transfers
of Contract Value –
Frequent Transfer
Restrictions
The Fixed Account –
Transfers and
Withdrawals from the
Fixed Account
Other Information –
Changes to Investments
5
 
RESTRICTIONS
Location in Prospectus
Are There Any
Restrictions on
Contract
Benefits?
Yes.
●Optional benefits are only available at Contract issue. You cannot change or
cancel the benefits that you select after they are issued.
●Certain optional benefits are not available in every state and are subject to
age restrictions. The 6% and 7% Guaranteed Growth Death Benefit is not
available to Texas residents.
●Certain optional benefits previously offered with the Contract are no longer
available for purchase. We reserve the right to stop offering for purchase any
currently available optional benefit at any time.
●Optional benefits may limit or restrict the investment options that you may
select under the Contract. We may change these restrictions in the future.
●We do not have the right to modify or terminate an optional benefit.
Withdrawals, however, may reduce the value of an optional benefit by an
amount greater than the value withdrawn or result in termination of the
benefit.
Benefits Under the
Contract – Optional
Riders
Appendix B – Riders No
Longer Available -
Available for Purchase
Only Prior to February 1,
2010
 
TAXES
Location in Prospectus
What are the
Contract’s Tax
Implications?
●If you elect to pay third-party advisory fees from your Contract Value, then
the deduction will reduce the death benefits and other guaranteed benefits,
perhaps significantly, and may be subject to federal and state income taxes
and a 10% federal penalty tax. Subject to certain conditions, the Company
will not treat the deduction of advisory fees as withdrawals under the
Contract for purposes of the GLWB Rider, and such deductions will not
reduce benefits under the GLWB Rider. However, the deduction of advisory
fees from your Contract Value will reduce the Contract Value, which could
reduce the potential for increases to the benefits under the GLWB Rider.
●Consult with a tax professional to determine the tax implications of an
investment in and payments received under the Contract.
●If you purchased the Contract through a tax-qualified plan or IRA, you do not
get any additional tax benefit 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.
The Contract –
Withdrawals to Pay
Advisory Fees
Charges and Deductions
– Deduction of Advisory
Fees
Federal Tax Matters
Federal Tax Matters –
Qualified Plans
 
CONFLICTS OF INTEREST
Location in Prospectus
How are
Investment
Professionals
Compensated?
Your investment professional may receive compensation for selling this
Contract to you, in the form of commissions, additional payments, and
non-cash compensation. We may share the revenue we earn on this Contract
with your investment professional’s firm. This conflict of interest may influence
your investment professional to recommend this Contract over another
investment for which the investment professional is not compensated or is
compensated less.
Other Information – Sale
of the Contract
Should I
Exchange my
Contract?
Some investment professionals may have a financial incentive to offer you a
new contract in place of the one you already own. You should only exchange a
contract you already own if you determine, after comparing the features, fees
and risks of both contracts, and any fees or penalties to terminate the existing
contract, that it is better for you to purchase the new contract rather than
continue to own your existing contract.
Additional
Compensation Paid to
Selected Selling
Broker-Dealers
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 or updated from time to time, and can be found online at https://vpx.broadridge.com/GetContract1.asp?doctype=pros&cid=sblife&fid=814121612. You can view, download, and print copies of Underlying Fund documents at this website. You can also request this information at no cost by calling 1-800-888-2461 or by sending an email request to [email protected].
The current expenses and performance information below reflect the 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. Updated performance information is available online at https://www.securitybenefit.com/performance.
Investment
Type
Fund
Adviser/Sub-Adviser
Current
Expenses1
Average Annual
Total Returns
(as of 12/31/2025)
1 Year
5 Year
10 Year
Mid Cap Value
AB Discovery Value – Class B
Adviser: AllianceBernstein L.P.
1.07%
2.64%
8.48%
8.27%
Global
Allocation
AB VPS Dynamic Asset Allocation – Class B
Adviser: AllianceBernstein L.P.
1.20%
13.21%
4.74%
5.25%
Balanced/Asset
Allocation
American Funds IS® Asset Allocation – Class 4
Adviser: Capital Research and Management Company
0.79%
15.59%
8.70%
9.50%
Global Bond
American Funds IS® Capital World Bond – Class 4
Adviser: Capital Research and Management Company
0.98%
9.03%
-2.76%
0.97%
International
Equity
American Funds IS® EUPAC FundTM – Class 4
Adviser: Capital Research and Management Company
1.03%
26.41%
3.14%
6.73%
Global Equity
American Funds IS® Global Growth – Class 4
Adviser: Capital Research and Management Company
1.01%
21.34%
7.97%
11.89%
Large Cap
Blend
American Funds IS® Growth-Income – Class 4
Adviser: Capital Research and Management Company
0.78%
17.77%
13.62%
13.63%
Emerging
Markets
American Funds IS® New World – Class 4
Adviser: Capital Research and Management Company
1.15%
27.92%
5.06%
8.98%
Large Cap
Value
BlackRock Equity Dividend V.I. – Class III
Adviser: BlackRock Advisors, LLC
1.13%
21.32%
11.45%
11.01%
Global
Allocation
BlackRock Global Allocation V.I. – Class III
Adviser: BlackRock Advisors, LLC
Sub-Adviser: BlackRock (Singapore) Limited; BlackRock
International Limited
1.15%
19.42%
5.51%
7.33%
High Yield Bond
BlackRock High Yield V.I. – Class III
Adviser: BlackRock Advisors, LLC
Sub-Adviser: BlackRock International Limited
0.89%
9.09%
4.57%
6.07%
Mid Cap Blend
BNY Mellon IP MidCap Stock – Service Class
Adviser: BNY Mellon Investment Adviser, Inc.
Sub-Adviser: Newton Investment Management North
America, LLC
1.12%
9.81%
9.39%
8.51%
A-1
Investment
Type
Fund
Adviser/Sub-Adviser
Current
Expenses1
Average Annual
Total Returns
(as of 12/31/2025)
1 Year
5 Year
10 Year
Small Cap
Blend
BNY Mellon IP Small Cap Stock Index – Service Class
Adviser: BNY Mellon Investment Adviser, Inc.
0.61%
5.36%
6.65%
9.15%
Specialty-Sector
BNY Mellon IP Technology Growth – Service Class
Adviser: BNY Mellon Investment Adviser, Inc.
Sub-Adviser: Newton Investment Management North
America, LLC
1.07%
27.87%
8.96%
16.97%
Large Cap
Blend
BNY Mellon VIF Appreciation – Service Class
Adviser: BNY Mellon Investment Adviser, Inc.
Sub-Adviser: Fayez Sarofim & Co., LLC
1.10%
9.78%
9.08%
12.63%
Large Cap
Growth
ClearBridge Variable Growth – Class II
Adviser: Franklin Templeton Fund Adviser, LLC
Sub-Adviser: ClearBridge Investments, LLC
1.13%
13.10%
4.98%
7.20%
Small Cap
Growth
ClearBridge Variable Small Cap Growth – Class I
Adviser: Franklin Templeton Fund Adviser, LLC
Sub-Adviser: ClearBridge Investments, LLC
0.81%
9.23%
-0.17%
9.38%
Large Cap
Value
Fidelity® VIP Equity-Income – Service Class 2
Adviser: Fidelity Management & Research Company LLC
Sub-Adviser: FMR Investment Management (UK)
Limited; Fidelity Management & Research (Hong Kong)
Limited; Fidelity Management & Research (Japan)
Limited
0.71%
18.75%
12.23%
11.32%
Large Cap
Growth
Fidelity® VIP Growth & Income – Service Class 2
Adviser: Fidelity Management & Research Company LLC
Sub-Adviser: FMR Investment Management (UK)
Limited; Fidelity Management & Research (Hong Kong)
Limited; Fidelity Management & Research (Japan)
Limited
0.72%
21.21%
15.83%
13.56%
Large Cap
Growth
Fidelity® VIP Growth Opportunities – Service Class 2
Adviser: Fidelity Management & Research Company LLC
Sub-Adviser: FMR Investment Management (UK)
Limited; Fidelity Management & Research (Hong Kong)
Limited; Fidelity Management & Research (Japan)
Limited
0.81%
21.73%
11.04%
19.64%
High Yield Bond
Fidelity® VIP High Income – Service Class 2
Adviser: Fidelity Management & Research Company LLC
Sub-Adviser: FMR Investment Management (UK)
Limited; Fidelity Management & Research (Hong Kong)
Limited; Fidelity Management & Research (Japan)
Limited
1.07%
10.31%
4.00%
5.34%
International
Equity
Fidelity® VIP Overseas – Service Class 2
Adviser: Fidelity Management & Research Company LLC
Sub-Adviser: FMR Investment Management (UK)
Limited; Fidelity Management & Research (Hong Kong)
Limited; Fidelity Management & Research (Japan)
Limited; FIL Investment Advisors; FIL Investment
Advisors (UK) Limited
0.97%
20.05%
6.35%
7.55%
Balanced/Asset
Allocation
Franklin Allocation VIP Fund – Class 4
Adviser: Franklin Advisers, Inc.
0.97%
12.53%
5.59%
7.19%
A-2
Investment
Type
Fund
Adviser/Sub-Adviser
Current
Expenses1
Average Annual
Total Returns
(as of 12/31/2025)
1 Year
5 Year
10 Year
Balanced/Asset
Allocation
Franklin Income VIP Fund – Class 2
Adviser: Franklin Advisers, Inc.
0.72%
12.56%
7.66%
7.30%
Global Equity
Franklin Mutual Global Discovery VIP Fund – Class 2
Adviser: Franklin Mutual Advisers, LLC
1.16%
23.34%
12.00%
8.52%
Small Cap
Value
Franklin Small Cap Value VIP Fund – Class 2
Adviser: Franklin Mutual Advisers, LLC
0.92%
7.65%
8.86%
9.81%
Multi-Sector
Bond
Franklin Strategic Income VIP Fund – Class 2
Adviser: Franklin Advisers, Inc.
1.08%
7.24%
1.92%
3.10%
Floating Rate
Bond
Guggenheim VIF Floating Rate Strategies
Adviser: Guggenheim Partners Investment Management,
LLC
1.54%
3.57%
4.56%
4.12%
Specialty
Guggenheim VIF Global Managed Futures Strategy
Adviser: Security Investors, LLC
2.32%
3.65%
3.94%
1.27%
High Yield Bond
Guggenheim VIF High Yield
Adviser: Guggenheim Partners Investment Management,
LLC
1.57%
6.84%
4.16%
5.55%
Specialty
Guggenheim VIF Multi-Hedge Strategies
Adviser: Security Investors, LLC
1.80%
1.25%
1.23%
1.62%
Intermediate
Term Bond
Guggenheim VIF Total Return Bond
Adviser: Guggenheim Partners Investment Management,
LLC
0.99%
7.48%
-0.21%
3.13%
Mid Cap Value
Invesco V.I. American Value – Series II
Adviser: Invesco Advisers, Inc.
1.14%
20.76%
17.56%
12.01%
Large Cap
Value
Invesco V.I. Comstock – Series II
Adviser: Invesco Advisers, Inc.
1.00%
17.14%
15.14%
11.67%
Intermediate
Core-Plus Bond
Invesco V.I. Core Plus Bond – Series II
Adviser: Invesco Advisers, Inc.
0.99%
6.96%
-0.36%
2.73%
Mid Cap Growth
Invesco V.I. Discovery Mid Cap Growth – Series II
Adviser: Invesco Advisers, Inc.
1.11%
4.53%
3.64%
11.10%
Balanced/Asset
Allocation
Invesco V.I. Equity and Income – Series II
Adviser: Invesco Advisers, Inc.
0.82%
12.52%
8.68%
8.64%
International
Equity
Invesco V.I. EQV International Equity – Series II
Adviser: Invesco Advisers, Inc.
1.15%
16.23%
3.42%
5.95%
Global Equity
Invesco V.I. Global – Series II
Adviser: Invesco Advisers, Inc.
1.06%
15.02%
7.01%
10.72%
Specialty-Sector
Invesco V.I. Global Real Estate – Series I
Adviser: Invesco Advisers, Inc.
1.02%
7.85%
1.73%
2.44%
Money Market
Invesco V.I. Government Money Market – Series II
Adviser: Invesco Advisers, Inc.
0.63%
3.76%
2.85%
1.77%
Government
Bond
Invesco V.I. Government Securities – Series II
Adviser: Invesco Advisers, Inc.
0.95%
6.95%
-0.22%
1.34%
A-3
Investment
Type
Fund
Adviser/Sub-Adviser
Current
Expenses1
Average Annual
Total Returns
(as of 12/31/2025)
1 Year
5 Year
10 Year
Specialty-Sector
Invesco V.I. Health Care – Series I
Adviser: Invesco Advisers, Inc.
0.99%
15.33%
3.80%
6.58%
Mid Cap Blend
Invesco V.I. Main Street Mid Cap Fund® – Series II
Adviser: Invesco Advisers, Inc.
1.19%
8.96%
8.83%
9.08%
Small Cap
Blend
Invesco V.I. Main Street Small Cap Fund® – Series II
Adviser: Invesco Advisers, Inc.
1.09%
8.44%
8.07%
10.31%
Mid Cap Growth
Janus Henderson VIT Enterprise – Service Class
Adviser: Janus Henderson Investors US LLC
0.97%
7.41%
7.35%
12.51%
Large Cap
Growth
Janus Henderson VIT Research – Service Class
Adviser: Janus Henderson Investors US LLC
1.07%
18.10%
13.83%
15.59%
Multi-Sector
Bond
Lord Abbett Series Bond-Debenture VC – Class VC
Adviser: Lord, Abbett & Co. LLC
0.98%
8.33%
2.10%
4.72%
Small Cap
Growth
Lord Abbett Series Developing Growth VC – Class VC2
Adviser: Lord, Abbett & Co. LLC
1.27%
14.59%
-1.17%
11.03%
Mid Cap Value
LVIP American Century Mid Cap Value – Service Class
Adviser: Lincoln Financial Investments Corporation
Sub-Adviser: American Century Investment
Management, Inc.
1.03%
8.83%
8.72%
8.96%
Large Cap
Growth
LVIP American Century Ultra – Service Class
Adviser: Lincoln Financial Investments Corporation
Sub-Adviser: American Century Investment
Management, Inc.
0.92%
12.67%
11.52%
17.00%
Large Cap
Value
LVIP American Century Value – Service Class
Adviser: Lincoln Financial Investments Corporation
Sub-Adviser: American Century Investment
Management, Inc.
0.90%
15.85%
11.47%
10.07%
Intermediate
Core Bond
LVIP JPMorgan Core Bond – Service Class
Adviser: Lincoln Financial Investments Corporation
Sub-Adviser: J.P. Morgan Investment Management, Inc.
0.99%
7.15%
-0.29%
1.85%
International
Equity
MFS® VIT II Research International – Service Class
Adviser: Massachusetts Financial Services Company
1.22%
21.75%
5.25%
7.27%
Balanced/Asset
Allocation
MFS® VIT Total Return – Service Class
Adviser: Massachusetts Financial Services Company
0.96%
10.91%
6.16%
7.36%
Specialty-Sector
MFS® VIT Utilities – Service Class
Adviser: Massachusetts Financial Services Company
1.04%
14.76%
7.38%
9.22%
Emerging
Markets
Morgan Stanley VIF Emerging Markets Equity – Class II
Adviser: Morgan Stanley Investment Management, Inc.
Sub-Adviser: Morgan Stanley Investment Management
Company
1.53%
32.90%
4.32%
7.21%
Asset
Allocation/
Lifestyle
Morningstar Aggressive Growth ETF Asset Allocation
Portfolio – Class II
Adviser: ALPS Advisors, Inc.
Sub-Adviser: Morningstar Investment Management LLC
0.85%
20.00%
10.55%
10.36%
A-4
Investment
Type
Fund
Adviser/Sub-Adviser
Current
Expenses1
Average Annual
Total Returns
(as of 12/31/2025)
1 Year
5 Year
10 Year
Asset
Allocation/
Lifestyle
Morningstar Balanced ETF Asset Allocation Portfolio –
Class II
Adviser: ALPS Advisors, Inc.
Sub-Adviser: Morningstar Investment Management LLC
0.84%
14.82%
6.61%
7.25%
Asset
Allocation/
Lifestyle
Morningstar Conservative ETF Asset Allocation Portfolio
– Class II
Adviser: ALPS Advisors, Inc.
Sub-Adviser: Morningstar Investment Management LLC
0.93%
8.82%
2.19%
3.50%
Asset
Allocation/
Lifestyle
Morningstar Growth ETF Asset Allocation Portfolio –
Class II
Adviser: ALPS Advisors, Inc.
Sub-Adviser: Morningstar Investment Management LLC
0.82%
17.91%
8.82%
9.05%
Asset
Allocation/
Lifestyle
Morningstar Income and Growth ETF Asset Allocation
Portfolio – Class II
Adviser: ALPS Advisors, Inc.
Sub-Adviser: Morningstar Investment Management LLC
0.88%
11.70%
4.43%
5.46%
Multi Cap Value
NAA All Cap Value Series
Adviser: New Age Alpha Advisors, LLC
1.15%
12.87%
11.12%
10.40%
Large Cap
Value
NAA Large Cap Value Series
Adviser: New Age Alpha Advisors, LLC
1.05%
14.16%
12.15%
10.88%
Large Cap
Blend
NAA Large Core Series
Adviser: New Age Alpha Advisors, LLC
1.16%
16.43%
13.65%
14.25%
Large Cap
Growth
NAA Large Growth Series
Adviser: New Age Alpha Advisors, LLC
1.17%
17.02%
13.89%
17.04%
Mid Cap Growth
NAA Mid Growth Series
Adviser: New Age Alpha Advisors, LLC
1.18%
2.17%
4.48%
10.63%
Small Cap
Value
NAA Small Cap Value Series
Adviser: New Age Alpha Advisors, LLC
1.29%
3.30%
8.47%
7.65%
Small Cap
Growth
NAA Small Growth Series
Adviser: New Age Alpha Advisors, LLC
1.42%
6.58%
2.59%
8.89%
Mid Cap Value
NAA SMid-Cap Value Series
Adviser: New Age Alpha Advisors, LLC
1.18%
7.35%
9.30%
9.97%
Global Equity
NAA World Equity Income Series
Adviser: New Age Alpha Advisors, LLC
1.18%
22.75%
11.42%
9.99%
Specialty
Neuberger Berman Quality Equity Portfolio – Class S
Adviser: Neuberger Berman Investment Advisers LLC
1.12%
13.43%
12.54%
12.66%
Global
Allocation
Nomura VIP Asset Strategy - Service Class
Adviser: Delaware Management Company
1.04%
16.66%
7.07%
7.84%
Specialty
PIMCO VIT All Asset – Administrative Class
Adviser: Pacific Investment Management Company LLC
Sub-Adviser: Research Affiliates LLC
2.22%
14.20%
5.60%
6.77%
Specialty-Sector
PIMCO VIT CommodityRealReturn Strategy – Adminis-
trative Class
Adviser: Pacific Investment Management Company LLC
3.38%
18.79%
10.55%
6.54%
A-5
Investment
Type
Fund
Adviser/Sub-Adviser
Current
Expenses1
Average Annual
Total Returns
(as of 12/31/2025)
1 Year
5 Year
10 Year
Emerging
Markets Bond
PIMCO VIT Emerging Markets Bond – Advisor Class
Adviser: Pacific Investment Management Company LLC
1.27%
14.86%
2.34%
4.96%
International
Bond
PIMCO VIT International Bond Portfolio (U.S.
Dollar-Hedged) – Administrative Class
Adviser: Pacific Investment Management Company LLC
1.09%
3.95%
1.03%
2.88%
Short Term
Bond
PIMCO VIT Low Duration – Administrative Class
Adviser: Pacific Investment Management Company LLC
0.66%
5.52%
1.57%
1.79%
Inflation-
Protected Bond
PIMCO VIT Real Return – Administrative Class
Adviser: Pacific Investment Management Company LLC
1.39%
7.85%
1.21%
3.21%
Intermediate
Term Bond
PIMCO VIT Total Return – Advisor Class
Adviser: Pacific Investment Management Company LLC
0.83%
8.78%
-0.08%
2.26%
Small Cap
Value
Putnam VT Small Cap Value – Class IB
Adviser: Putnam Investment Management, LLC
Sub-Adviser: Franklin Advisers, Inc.; Franklin Templeton
Investment Management Limited
1.02%
5.27%
10.99%
9.13%
Small Cap
Blend
Royce Micro-Cap – Investment Class
Adviser: Royce & Associates, LP
1.22%
13.89%
9.17%
10.14%
Specialty-Sector
T. Rowe Price Health Sciences – Class II
Adviser: T. Rowe Price Associates, Inc.
1.11%
17.80%
3.86%
8.70%
Emerging
Markets
Templeton Emerging Markets VIP Fund – Class 2
Adviser: Templeton Asset Management Ltd
Sub-Adviser: Franklin Templeton Investment
Management Limited
1.37%
46.27%
5.46%
10.40%
Global Bond
Templeton Global Bond VIP Fund – Class 2
Adviser: Franklin Advisers, Inc.
0.78%
15.73%
-0.96%
-0.15%
High Yield Bond
Western Asset Variable Global High Yield Bond – Class
II
Adviser: Franklin Templeton Fund Adviser, LLC
Sub-Adviser: Western Asset Management Company,
LLC; Western Asset Management Company Limited
(London); Western Asset Management Company Pte.
Ltd. (Singapore)
1.06%
9.95%
2.34%
5.09%
1
Certain Investment Portfolios and their investment advisers have entered into temporary expense reimbursement and/or fee waivers. Please
see the Investment Portfolios’ prospectuses for additional information regarding these arrangements
2
This fund is no longer available for new transfers.
Fixed Option — The following is a list of Fixed Options currently available under the Contract. We may change the features of the Fixed Options listed below, offer new Fixed Options, and terminate existing Fixed Options. We will provide you with written notice before doing so. Depending on the optional benefits you choose, you may not be able to invest in the Fixed Options, as noted below.
See “The Fixed Account” in the prospectus for a description of the Fixed Investment Options’ features.
Name
Term
Minimum Guaranteed Interest Rate
Fixed Account
Not applicable
1%
DCA Plus Account
6-months or 12-months
1%
A-6
Optional Rider Investment Restrictions
If you have elected one of the optional riders listed in the table below, your Contract is subject to investment allocation restrictions. Depending on the optional riders you choose, you may not be able to invest in certain Underlying Funds or the Fixed Account. In addition, other investment restrictions may apply, as shown below.
Riders Currently Available
Rider
Investment Restrictions
Extra Credit at 4%
Fixed Account not available as an investment option
0-Year or 4-Year Alternate
Withdrawal Charge
(The 3-Year Alternate
Withdrawal Charge in states
where the 4-Year Alternate
Withdrawal Charge is not
approved)
Fixed Account not available as an investment option
Riders No Longer Available
Rider
Investment Restriction
Investment Allocation Impact on Crediting Rate
Guaranteed Lifetime
Withdrawal Benefit
Fixed Account not available
as an investment option
N/A
Guaranteed Minimum Income
Benefit at 5%
N/A
The Company will credit a maximum rate of 4% for amounts
allocated to the Invesco V.I. Government Money Market
Subaccount, the Fixed Account and the Loan Account. All other
investments will be credited at 5%.
6% Dollar for Dollar
Guaranteed Minimum Income
Benefit (formerly the Dollar
for the Dollar Living Benefit)
N/A
The Company will credit a maximum rate of 3% for amounts
allocated to the Invesco V.I. Government Money Market
Subaccount, the PIMCO Low Duration Subaccount, the Fixed
Account and the Loan Account. All other investments will be
credited at 6%.
Guaranteed Growth Death
Benefit
N/A
If you elected this benefit at 5%, 6% or 7%, the Company will
credit a maximum rate of 4% for amounts allocated to the
Invesco V.I. Government Money Market Subaccount, the Fixed
Account and Loan Account. All other investments will be
credited at the rate you selected.
6% Dollar for Dollar
Guaranteed Minimum Income
Benefit and Guaranteed
Minimum Death Benefit
(formerly the Dollar for Dollar
Combination Benefit)
N/A
The Company will credit a maximum rate of 3% for amounts
allocated to the Invesco V.I. Government Money Market
Subaccount, the PIMCO Low Duration Subaccount, the Fixed
Account and the Loan Account. All other investments will be
credited at 6%.
Extra Credit (3% or 5%)
Fixed Account not available
as an investment option
N/A
A-7
 
This page left intentionally blank
The Prospectus and Statement of Additional Information (SAI) are parts of the registration statement that we filed with the Securities and Exchange Commission (SEC), dated May 1, 2026. Both documents contain additional important information about the Contract. The Prospectus and SAI are incorporated herein by reference, which means they are legally a part of this Updating Summary Prospectus.
The SAI may be obtained, free of charge, from us in the same manner as the Prospectus, as described on the front page of this Updating Summary Prospectus.
The SEC maintains a website (http://www.sec.gov) that contains the registration statement, material incorporated by reference, and other information regarding companies that file electronically with the SEC. Copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: [email protected].
EDGAR contract identifier C000029048

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 6/30/2026

1. DLR
2. EOSE
3. AVAV
4. VSH
5. ENPH
6. CNS
7. CMCSA
8. CNXC
9. SPY
10. MAMA


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

SEC Filings