Form 497VPU AMERICAN FAMILY VARIABLE
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Variable Annuity
Updating Summary Prospectus
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May 1, 2026
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American Family Variable
Annuity Contract
Flexible Premium Variable Annuity
issued by
American Family Life Insurance Company
through the
American Family Variable Account II
administered by
Kansas City Life Insurance Company
The Prospectus for the American Family Variable Annuity Contract (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 vpx.broadridge.com/GetContract1.asp?doctype=pros&cid=amf&fid=NRVA01723. You can also obtain this information at no cost by sending an email request to [email protected] or by contacting Us at:
American Family Life Insurance Company
Administrative Service Center
P.O. Box 219409
Kansas City, Missouri 64121-9409
Telephone: 1-877-781-3520
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.
The Securities and Exchange Commission (“SEC”) Has Not Approved or Disapproved the Contract or Determined That This Updating Summary Prospectus Is Accurate or Complete. Any Representation to the Contrary Is a Criminal Offense.
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Glossary
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3
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Updated Information About Your Contract
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4
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Important Information You Should Consider About the Contract
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5
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Appendix A: Investment Options Available Under the Contract
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8
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Glossary
For your convenience, We are providing a glossary of the special terms We use in this prospectus.
Accumulation Period
The period of time beginning on the Annuity Contract Date and ending on the earlier of:
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the Annuity Commencement Date; or
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the date this Contract terminates.
Accumulation Value
The amount during the Accumulation Period calculated as:
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the Variable Account Accumulation Value; plus
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the Fixed Account Accumulation Value.
Administrative Service Center
An office to which the Owner should direct all inquiries and correspondence regarding the Contract, including items such as Beneficiary changes and requests for surrender, partial surrenders and transfers. The address of the Administrative Service Center is P.O. Box 219409, Kansas City, Missouri 64121-9409. The telephone number of the Administrative Service Center is 1-877-781-3520.
American Family, We, Us, Our
American Family Life Insurance Company.
Annuitant
The person named as the proposed Annuitant on the Application or named as the Joint Annuitant, whose life determines the benefits payable.
Annuity Commencement Date
The date, unless later changed, on which We base the beginning date of the income payments.
Annuity Contract Date
The date shown on the Contract schedule that determines each:
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Contract year;
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Contract anniversary; and
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Contract month.
Application
The form completed by the proposed Annuitant(s) and/or proposed Owner when applying for coverage under the Contract. This includes any amendments or endorsements or supplemental applications.
Beneficiary
The person selected to receive the Death Benefit if an Owner dies before the Annuity Commencement Date or upon the death of the Annuitant.
Business Day
A day when the New York Stock Exchange is open for trading, except for any day that a Subaccount’s corresponding investment option does not value its shares. Assets are valued at the close of the Business Day, the close of the New York Stock Exchange (typically 4:00 p.m. Eastern Time).
Fixed Account
An account in which the Accumulation Value accrues interest at no less than the guaranteed minimum rate. The Fixed Account is part of Our General Account.
Fixed Account Accumulation Value
The amount under the Annuity Contract in the Fixed Account.
Fund
An open-end diversified management investment company or unit investment trust in whose Portfolio a Subaccount invests.
General Account
All Our assets other than those allocated to the Variable Account or any other separate account. We have complete ownership and control of the assets of the General Account.
Owner (you, your)
The person named in the Application as the Owner, unless later changed according to the conditions and provisions of this Contract.
SEC
The Securities and Exchange Commission, a United States government agency.
Surrender Charge
The contingent deferred sales charge is an amount subtracted from the Accumulation Value during the first nine years after each premium payment date upon surrender or partial surrender of the Contract.
Variable Account
American Family Variable Account II.
Variable Account Accumulation Value
The amount under the Contract in the Variable Account.
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Updated Information About Your Contract
The information in this Updating Summary Prospectus is a summary of certain Contract features that have changed since your Prospectus dated May 1, 2025. This may not reflect all of the changes that have occurred since you entered into your Contract.
There have been no changes to your Contract since the last Updating Summary Prospectus you received.
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Important Information You Should Consider About the Contract
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FEES, EXPENSES, AND ADJUSTMENTS
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Are There Charges or Adjustments for Early Withdrawals?
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Yes. If you surrender or partially surrender (withdraw money from) your Contract during the first nine Contract years, a Surrender Charge of up
to 8% will be deducted. In the tenth Contract year and after, there is no Surrender Charge. You will also pay a partial surrender processing fee of 2% of the amount withdrawn, up to $25, for each partial surrender.
For example, if you purchased a Contract for $100,000 and were to fully surrender (withdraw) $100,000 during the surrender charge period, you would be assessed a maximum charge of $8,000 on the amount
surrendered. Your loss will be greater if you also have to pay taxes or tax penalties.
Reference the "Fee Table" and “Fees and Charges – Surrender Charge”
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Are There Transaction Charges?
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Yes. In addition to Surrender Charges, you may be charged for other transactions such as when you complete more than 12 transfers during a Contract year.
Reference "Fee Table", "Fees and Charges - Transfer Fee" and “Transfers Between Investment Options”
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Are There Ongoing Fees and Expenses?
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Yes. The table below describes the fees and expenses that you may pay each year, depending on the investment
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.
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Annual Fee
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Minimum
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Maximum
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Base Contract
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1.18% 1
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1.18% 1
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Portfolio Company fees and expenses
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0.15% 2
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0.79% 2
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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.
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Lowest Annual Cost:
$1,629
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Highest Annual Cost:
$2,358
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Assumes:
• Investment of $100,000
• 5% annual appreciation
• Least expensive Portfolio Company fees and expenses
• No optional benefits
• No sales charges
• No additional purchase payments, transfers, or withdrawals
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Assumes:
• Investment of $100,000
• 5% annual appreciation
• Most expensive Portfolio Company fees and expenses
• No optional benefits
• No sales charges
• No additional purchase payments, transfers, or withdrawals
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Reference “Fee Table”, “Fees and Charges”, and “Appendix A: Investment Options Available Under the Contract”
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1 We calculate the Base Contract fee by dividing the total amount we receive from the annual contract fee, mortality and expense risk charge, and asset-based administrative charge for the last fiscal year by the total average net
assets attributable to the Contracts for that year.
2 As a percentage of Portfolio assets.
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RISKS
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Is There a Risk of Loss from Poor Performance?
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Yes. You can lose money by investing in this Contract, including loss of principal.
Reference “Principal Risks of Investing in the Contract – Investment Risk”
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Is this a Short-Term Investment?
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No. This Contract is not designed for short-term investing and is not appropriate for an investor who needs ready access to cash. Withdrawals may result in Surrender Charges, taxes, and tax
penalties.
Surrender Charges apply for up to nine Contract years and will reduce the value of your Contract if surrenders are made during that time.
The tax deferral benefit is more beneficial to investors with a long time horizon.
Reference “Principal Risks of Investing in the Contract – Surrender and Partial Surrender (withdrawal) Risks,” "Fee Table", "Fees and Charges - Surrender Charge" and "Federal Tax Matters"
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What Are the Risks Associated with the Investment Options?
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Reference "Principal Risks of Investing in the Contract - Investment Risk," "The Fixed Account" and "Appendix A: Investment Options Available Under the Contract" |
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What Are the Risks Related to the Insurance Company?
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Reference "Principal Risks of Investing in the Contract" and “The Fixed Account” |
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RESTRICTIONS
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Are There Restrictions on the Investment Options?
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Yes. The first 12 transfers during each Contract year are free. We will assess a transfer processing fee of $25 for each additional transfer during such Contract year.
We reserve the right to remove or substitute Portfolio Companies as investment options.
Before the Annuity Commencement Date, you may make one transfer each Contract year from the Fixed Account to one or more of the Subaccounts.
You may not transfer more than the greater of 25% of the Accumulation Value in the Fixed Account as of the date of transfer, or the amount transferred from the Fixed Account during the preceding year. If
such transfer causes the Accumulation Value in the Fixed Account to fall below $1,000, We will transfer the full Accumulation Value. Because of the limits on the amount of Accumulation Value that may be transferred from the Fixed
Account at any one time, it may take a number of years to transfer all of the Accumulation Value in the Fixed Account.
We reserve the right to revoke or modify the transfer privilege at any time.
We reserve the right to remove or substitute Portfolio Companies as investment options.
We may close Subaccounts to allocations of premiums or Accumulation Value, or both, at any time in Our sole discretion.
We may limit the total premium(s) paid to Us during any Contract year. We also reserve the right to limit the number and amount of any Planned Premium payments.
Reference “Transfers Between Investment Options” and “The Portfolios – Portfolio Management Fees and Charges” and “The Fixed Account – Fixed Account Transfers” and “Principle Risks of Investing in the Contract – Contract Changes Risk”
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Are There any Restrictions on Contract Benefits?
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Yes. You cannot participate in both the Automatic Asset Reallocation Program and the Dollar Cost Averaging Program at the same time.
Partial surrenders will reduce the value of the Death Benefit, and may reduce the value of the Death Benefit by more than the amount surrendered. If the Annuitant or Owner is Attained Age 80 or older at the time of death, the Death
Benefit is the Accumulation Value and the minimum Death Benefit will not apply.
We may modify, suspend, or discontinue the benefits under the Contract, other than the Death Benefit, at any time.
Reference “Death Benefit” and “Other Benefits Available Under the Contract”
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6
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TAXES
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What Are the Contract’s Tax Implications?
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Earnings on your contract are generally 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 tax advantages provided by a variable annuity are already available with tax-qualified plans, including IRAs and Roth IRAs. You should consult with a tax professional to determine the tax implications of an investment in and purchase payments received under the Contract.
Reference “Federal Tax Matters” |
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CONFLICTS OF INTEREST
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How Are Investment Professionals Compensated?
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All commissions that were payable with respect to the Contracts have been paid, and no commissions are or will become payable to the current principal underwriter, Sunset Financial Services, Inc. (the “Distributor”), or to the former principal underwriter, American Family Securities, LLC, or their respective registered representatives with respect to the Contracts. The Distributor receives a portion of the 12b-1 fees deducted from certain funds’ portfolio assets as reimbursement for providing certain services permitted under the 12b-1 plans of those portfolios. When the Contract was offered to new purchasers, commissions were paid to broker-dealers for the sale of Contracts. In addition, we may have paid an asset-based commission or other amounts in certain circumstances. These investment professionals may have had a financial incentive to offer or recommend the Contract over another investment.
Reference “Other Information – Distribution of the Contracts” and “The Portfolios – Portfolio Management Fees and Charges |
| Should I Exchange My Contract? |
Some broker-dealers may have a financial incentive to offer a new contract in place of your existing Contract. You should replace (exchange) your existing Contract only when you determine that the new contract is better for you, after comparing the features, fees, and risks of both contracts, and any fees or penalties to terminate your existing Contract. Reference “Other Information – Replacement of Contracts” |
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Appendix A: Investment Options Available Under the Contract
The following is a list of Portfolio Companies available under the Contract. More information about the Portfolio Companies is available in the prospectuses for the Portfolio Companies, which may be amended from time
to time and can be found online at https://kclife.com/amfamvariablepolicyadministration/. You can also request this information at no cost by calling 1-877-781-3520 or by sending an email request to [email protected].
The current expenses and performance information below reflects fee and expenses of the Portfolio Companies, 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 Portfolio Company’s past performance is not necessarily an indication of future performance.
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Investment Objective
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Portfolio
Adviser/Subadvisor
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Current Expenses
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Average Annual Total Returns
(as of 12/31/2025)
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1 Year
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5 Year
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10 Year
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Seeks long-term capital appreciation.
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Fidelity® VIP ContrafundSM Portfolio – Service Class 2
Fidelity Management & Research Company
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0.79%
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21.24%
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15.08%
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15.49%
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Seeks reasonable income. The fund will also consider the potential for capital appreciation. The fund’s goal is to achieve a yield which exceeds the composite yield on the securities comprising the Standard & Poor’s 500SM
Index (S&P 500®).
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Fidelity® VIP Equity Income PortfolioSM – Service Class 2
Fidelity Management & Research Company
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0.71%
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18.75%
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12.23%
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11.32%
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Seeks as high a level of current income as is consistent with preservation of capital and liquidity.
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Fidelity® VIP Government Money Market Portfolio – Initial Class
Fidelity Management & Research Company
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0.25%
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4.13%
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3.10%
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2.03%
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Seeks high total return through a combination of current income and capital appreciation.
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Fidelity® VIP Growth & Income Portfolio – Service Class 2
Fidelity Management & Research Company
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0.72%
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21.21%
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15.83%
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13.56%
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Seeks as high a level of current income as is consistent with preservation of capital.
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Fidelity® VIP Investment Grade Bond Portfolio – Service Class
Fidelity Management & Research Company
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0.47%
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7.14%
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-0.06%
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2.61%
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Seeks long-term growth of capital.
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Fidelity® VIP Mid Cap Portfolio – Initial Class
Fidelity Management & Research Company
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0.55%
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11.75%
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10.10%
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10.59%
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Seeks to provide long-term capital appreciation.
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Vanguard VIF Capital Growth Portfolio
PRIMECAP Management Company
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0.34%
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28.98%
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13.97%
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14.96%
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Seeks to provide long-term capital appreciation.
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Vanguard VIF International Portfolio
Baillie Gifford Overseas Ltd. and Schroder Investment Management North America Inc.
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0.33%
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19.97%
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0.62%
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10.48%
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Seeks to provide current income while maintaining liquidity and a stable net asset value of $1 per share.
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Vanguard VIF Money Market Portfolio
Vanguard Capital Management, LLC
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0.15%
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4.18%
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3.17%
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2.20%
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Seeks to provide long-term capital appreciation.
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Vanguard VIF Small Company Growth Portfolio
ArrowMark Colorado Holdings, LLC and Vanguard Portfolio Management, LLC
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0.29%
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6.11%
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3.81%
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9.61%
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The following describes the Fixed Account option currently available under the Contract. We may change certain features of the Fixed Account, offer new fixed investment options, and terminate the Fixed Account in the future, subject to applicable law. We will provide you with written notice before doing so. For more information about the Fixed Account, see “The Fixed Account.”
| Term | Minimum Guaranteed Interest Rate |
| 1 Contract Year | 3% |
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The Prospectus and Statement of Additional Information (SAI), both dated May 1, 2026, have been filed with the SEC and are incorporated by reference into this Updating Summary Prospectus. The SEC maintains an Internet website (http://www.sec.gov) that contains the Prospectus, the SAI, reports and other information about the Variable Account and the Contract. This information (including the Prospectus and SAI) may be obtained, upon payment of a duplicating fee, by electronic request at the email address maintained by the SEC ([email protected]).
Investment Company Act of 1940 Registration File No. 811-10121
Contract Identifier C000018178
All your protection under one roof*
American Family Life Insurance Company
Administrative Service Center – Kansas City, MO 64111
The American Family Variable Annuity is issued by American Family Life Insurance Company and distributed by Sunset Financial Services, Inc.
3520 Broadway, Kansas City, MO 64111
1-800-821-5529
© 2013
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