Form 497VPU Farmers Variable Life

May 1, 2026 9:35 AM EDT

UPDATING SUMMARY PROSPECTUS
May 1, 2026
Farmers® Variable Universal Life
A FLEXIBLE PREMIUM VARIABLE UNIVERSAL LIFE INSURANCE POLICY
ISSUED THROUGH:
Farmers Variable Life Separate Account A
BY
Farmers New World Life Insurance Company
This Updating Summary Prospectus provides certain updated information about the Farmers® Variable Universal Life, an individual flexible premium variable life insurance policy, (the “Policy”) issued by Farmers New World Life Insurance Company. This Policy is currently not being issued.
The statutory prospectus for the Policy contains more information about the Policy, including its features, benefits, and risks. You can find the current statutory prospectus and other information about the Policy online at https://vpx.broadridge.com/GetContract1.asp?cid=fnwl&fid=vul1. You can also obtain this information at no cost by calling
1-877-376-8008 or emailing us at [email protected].
Additional information about certain investment products, including variable life insurance contracts, has been prepared by the Securities and Exchange Commission’s staff and is available at Investor.gov.
Replacing your existing life insurance with this Policy may not be to your advantage. In addition, it may not be to your advantage to finance the purchase of or to maintain this Policy through a loan or through Surrenders or partial Surrenders from another policy.
An investment in this Policy is not a bank deposit, and no bank endorses or guarantees the Policy. The Policy is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
 
 
The Securities and Exchange Commission has not approved or disapproved this Policy or determined
that this summary prospectus is accurate or complete.
Anyone who tells you otherwise is committing a Federal crime.
 
 
 
Not FDIC Insured
 
May Lose Value
 
No Bank Guarantee
 
 
 
Table of Contents
 
3 
7 
7 
10 
 
Glossary

 

 
For your convenience, we are providing a glossary of the special terms we use in this prospectus.
Accelerated Benefit for Terminal Illness Insured
(as the term is used in the Accelerated Benefit Rider for Terminal Illness). The Primary Proposed Insured named on the application for life insurance under the policy. No other Insured covered under the Policy or its riders is included as an Accelerated Benefit for Terminal Illness Insured. Subject to this definition, the Accelerated Benefit for Terminal Illness Insured is sometimes referred to as the “Insured” in this rider.
Accumulation Unit Value
An accounting unit used to calculate the variable account value. It is a measure of the net investment results of each of the variable Subaccounts.
Attained Age
The Insured’s age on the issue date plus the number of years completed since the issue date.
Beneficiary
The beneficiary is the person or persons named to receive the proceeds at the insured’s death. The beneficiary is as named in the application or as changed by the owner’s signed request while the insured is living.
Benefit Amount
(as the term is used in the Accelerated Benefit Rider for Terminal Illness). The Accelerated Benefit for Terminal Illness amount payable under the rider, as specified in the Benefits section of this rider.
Benefit Percentage
(as the term is used in the Accelerated Benefit Rider for Terminal Illness). The Benefit Percentage is:

 1.
The Benefit Amount before any adjustments and deductions, divided by

2.
The current death benefit provided by the Policy excluding any attached riders.
Business Day/Valuation Day
Each day on which the New York Stock Exchange (“NYSE”) is open for business. Farmers New World Life Insurance Company is open to administer the policy on each day that NYSE is open for regular trading. When we use the term “Business Day” in this statement of additional information, it has the same meaning as the term “Valuation Day” found in the Policy.
Cash Value
The Contract Value minus any applicable Surrender charge.
Company (we, us, our, Farmers, FNWL)
Farmers New World Life Insurance Company
Contract Value
The sum of the values you have in the variable account plus the fixed account and the loan account.
Cumulative Minimum Premiums
The sum of all monthly-mode minimum premiums due since the issue date. The initial minimum premium is specified on the Policy specifications page. The minimum premium will change if you increase or decrease the principal sum or if certain other changes in the Policy occur.
Death Benefit Proceeds
If the insured dies while the Policy is in force, we will pay the proceeds to the beneficiary on receipt of due proof of death. The amount payable is: 1) the death benefit then in effect; less 2) any monthly deductions due and unpaid at the date of death; less 3) any loans and accrued loan interest; plus 4) the amounts to be paid under the terms of any attached riders.
Diagnosis
(as the term is used in the Accelerated Benefit Rider for Terminal Illness). The definitive establishment, acceptable to us, of a Terminal Illness through the use of clinical and/or laboratory findings and subject to the terms and conditions of the rider. The Diagnosis must be made by a Physician as defined in the rider.
 
Fixed Account
An account that is part of our general account, and is not part of or dependent on the investment performance of the variable account.
Fixed Account Value
The portion of the contract value allocated to the fixed account.
Fund(s)
Investment companies that are registered with the SEC. The Policy allows you to invest in the portfolios of the Funds that are listed in the Appendix of the Prospectus.
General Account
The account containing all of Farmers’ assets, other than those held in its separate accounts.
Home office
The address of our Home Office is 12822 SE 32nd Street, Suite 2, Bellevue, Washington 98005.
Initial Premium
The amount you must pay before insurance coverage begins under the Policy. The Initial Premium is shown on your Policy’s specification page.
Insured
The person whose life is insured by the Policy.
Issue Age
The Insured’s age as of the last birthday before the issue date.
Issue Date
The effective date for coverage. Policy months, years, and anniversaries are measured from the issue date. The initial premium (times the percent of premium factor) is allocated to the fixed account on the issue date. The first monthly deduction occurs on the issue date. The entire contract value remains allocated to the fixed account until the reallocation date.
Lapse
If the surrender value becomes zero, the policy will enter a 61-day grace period unless cumulative premiums less withdrawals exceed cumulative minimum premiums. If cumulative premiums less withdrawals exceed cumulative minimum premiums, the policy will enter the 61-day grace period when the contract value minus any outstanding policy loan and accrued loan interest is insufficient to pay the entire monthly deduction due. At the end of the grace period the policy will terminate without value unless a premium payment or loan repayment is made and is sufficient to cause either one of the following conditions: 1) The surrender value exceeds zero, after deducting all due and unpaid monthly deductions; or 2) Both of the following occur: a) cumulative premiums less withdrawals exceed cumulative minimum premiums; and b) the contract value minus any outstanding policy loan and accrued loan interest exceeds zero, after deducting all due and unpaid monthly deductions.
Loan Amount
While the Policy is in force, you may make a loan for all or part of the loan value. You must assign the Policy to us as sole security. An amount equal to the loan will be transferred from the Subaccounts and the fixed account to the loan account. The loan account is part of our general account. If allocation instructions are not specified in your loan request, the loan will be withdrawn from the Subaccounts and the fixed account on a pro-rata basis.
Major Organs
(as the term is used in the Accelerated Benefit Rider for Terminal Illness). Human bone marrow or an entire human heart, kidney, lung, pancreas or liver.
Maturity Date
The Maturity Date of the Policy is the Policy anniversary when the Insured’s Attained Age is 110. The maturity date is shown on the Policy Specifications page. If the Policy is in force on the Maturity Date we will send you the Surrender Value and all coverage will end.
 
Monthly Deduction
The amount deducted from the contract value each month to pay for the insurance coverage. This includes the monthly cost of insurance charge and any monthly administration charge. The monthly deduction for the policy and the riders are separate deductions. The first monthly deduction occurs on the issue date.
Monthly Due Date
The day of each month on which policy charges are determined and deducted. The monthly due date is shown on the Policy Specification page.
NYSE
The New York Stock Exchange
Percent of Premium Factor
The factor multiplied by all premium payments to determine the amount of premium credited to the contract value. This factor is shown on the Policy Specifications page.
Physician
(as the term is used in the Accelerated Benefit Rider for Terminal Illness). A licensed Doctor of Medicine (M.D.) or Doctor of Osteopathy (D.O.), practicing within the scope of his or her license issued by the jurisdiction in which such person’s services are rendered. Such jurisdiction must be within the United States of America or its territories.
The Physician may not be:

 1.
The Insured;

2.
The Policy Owner;

3.
A Family Member;

4.
A person who practices in the same medical group as the Insured, Policy Owner, or a Family Member;

5.
A business partner of the Insured, Policy Owner, or a Family Member;

6.
A person living at the same address as the Insured, Policy Owner, or a Family Member.
Portfolio
A series of a Fund with its own objectives and policies, which represents shares of beneficial interest in a separate portfolio of securities and other assets. Portfolio is sometimes referred to herein as a Fund.
Premium Class
A classification that affects the cost of insurance rate and the premium required to insure an individual.
Premiums
All payments you make under the Policy other than loan repayments. When we use the term “premium” in the Prospectus, it generally has the same meaning as “net premium” in the Policy, and means a premium multiplied by the percent of premium factor.
Principal Sum
The amount of initial death benefit shown on the Policy Specifications page. You may increase or decrease the principal sum, subject to certain conditions. The actual death benefit proceeds paid may be more or less than the principal sum.
Reallocation Date
The date the contract value in the fixed account is allocated to the Subaccounts and to the fixed account based on the premium payment allocation percentages specified in the application. The reallocation date is the record date plus the number of days in your state’s right to examine period, plus 10 days.
Record Date
The date we record your Policy on our books as an in force policy.
Right to Examine Period
You may cancel the Policy at any time within 10 days after you receive it be delivering or mailing it to our Home Office. This shall void the Policy from the beginning and the parties shall be in the same positions as if no Policy had been issued. We will refund the greater of all premiums you paid for the Policy or the contract value on the date we receive the returned Policy at our Home Office.
 
Service Center
The address of the Service Center is P.O. Box 724208, Atlanta, GA 31139. Infosys McCamish Systems, L.L.C. is the administrator of the Policy. You can call the Service Center toll free at 1-877-376-8008.
Subaccount
A division of the variable account. The assets of each Subaccount are invested in a corresponding portfolio of a designated mutual fund.
Surrender
To cancel the Policy by signed request from the owner.
Surrender Value
The cash value minus any outstanding policy loan and accrued loan interest.
Tax Code
The Internal Revenue Code of 1986, as amended.
Terminal Illness
(as the term is used in the Accelerated Benefit Rider for Terminal Illness). A medical condition that with reasonable medical certainty will result in the Insured’s death within 12 months from the date of the Physician’s Statement, regardless of any medical treatment the Insured receives, or a condition that requires a Major Organ transplant to prevent the Insured’s death within the next 12 months.
Valuation Period
The interval of time commencing at the close of normal trading on the New York Stock Exchange on one valuation day and ending at the close of normal trading on the New York Stock Exchange on the next succeeding valuation day.
Variable Account
The variable account is named on the Policy Specifications page. The variable account is not part of our general account. The variable account has subaccounts, each of which is invested in a corresponding portfolio of a designated mutual fund.
Written Notice
The written notice you must sign and send us to request or exercise your rights as Owner under the Policy. To be complete, it must: (1) be in a form we accept, (2) contain the information and documentation that we determine is necessary, and (3) be received at our Service Center.
You (your, Owner)
The person entitled to exercise all rights as Owner under the Policy.
 
Updated Information About Your Policy

 

 
The information in this Updating Summary Prospectus is a summary of certain Policy features that have changed since the prospectus dated May 1, 2025. This may not reflect all of the changes that have occurred since you entered into your Policy.
Changes
None.
Important Information You Should Consider About the Policy

 

 
 
FEES AND EXPENSES
Charges for Early Withdrawal
  
There are surrender charges assessed if, during the first 14 Policy years, you: 1) fully surrender the Policy, 2) take a partial withdrawal from your Policy, if you have elected a level death benefit (Option B), or 3) you decrease the Principal Sum that was in effect at the time of issue. The amount of the charge depends on the age of the insured person and other factors, but the maximum charge is $75 per $1000 of Premiums paid. For example, if the amount of Premiums paid is $100,000, the highest possible surrender charge would be $7,500.
 
See “Charges and Deductions – Surrender Charge” in the statutory prospectus.
 
Transaction
Charges
  
In addition to surrender charges (if applicable), you may also be charged for the following transactions:
 
● A premium expense charge will be deducted upon the payment of each premium.
 
● A partial surrender processing fee will be deducted upon any partial surrender.
 
● A transfer fee may be deducted upon transfers into or out of a variable subaccount (or the fixed account) after you have made more than 12 such transfers in a year.
 
● A fee may be charged upon request for an additional annual report.
 
See “Charges and Deductions” in the statutory prospectus.
 
Ongoing Fees and Expenses (annual charges)
  
In addition to surrender charges and transaction charges, you will also be subject to certain ongoing fees and expenses, including fees and expenses covering the cost of insurance under the Policy and the cost of optional benefits under the Policy. Some of these fees and expenses are based wholly or in part on the characteristics of the insured person (e.g., age, sex, and underwriting classification). You should view the policy specifications page of your Policy for rates applicable to your Policy.
 
See “Charges and Deductions” in the statutory prospectus.
 
 
 
You will also bear expenses associated with the underlying portfolios under the Policy, as shown in the following table:
 
 
Annual Fee
Minimum
Maximum
  
 
 
Investment options
(Portfolio fees and expenses)*
0.19%
1.37%
  
   
*As a percentage of Portfolio net assets.
 
See “Appendix: Portfolios Available Under the Policy” in this summary prospectus.
 


RISKS
Risk of Loss
  
You can lose money by investing in the Policy.
 
See “Principal Policy Risks” in the statutory prospectus.
 
Not a Short-Term Investment
  
The Policy is not a short-term investment and is not appropriate for an investor who needs ready access to cash. The Policy is unsuitable as a short-term savings vehicle because of the substantial policy-level charges, including the premium expense charge and the surrender charge, as well as potential adverse tax consequences from such short-term use.
 
See “Principal Policy Risks – Effects of Surrender Charges” in the statutory prospectus.
 
Risks Associated
with Investment
Options
  
An investment in the Policy is subject to the risk of poor performance and can vary depending on the performance of the Subaccount allocation options available under the Policy (i.e., Portfolios). Each such option (as well as the Fixed Account) will have its own unique risks, and you should review these options before making an allocation decision.
 
See “Principal Policy Risks – Risk of Poor Investment Performance” in the statutory prospectus.
 
Insurance
Company Risks
  
Your investment in the policy is subject to risks related to Farmers New World Life Insurance Company (“Farmers”), including that the obligations (including under the Fixed Account option), guarantees, or benefits are subject to the claims-paying ability of Farmers. Information about Farmers, including its financial strength ratings, is available upon request from your Farmers representative. Our current financial strength ratings can also be obtained by visiting our website at www.ambest.com.
 
See “Farmers New World Life Insurance Company and Fixed Account – Farmers New World Life Insurance Company” in the statutory prospectus.
 
Contract Lapse
  
The Policy may lapse as a result of insufficient premium payments, poor performance of the variable Subaccounts and/or Fixed Account you have chosen, withdrawals, or unpaid loans or loan interest. If a default is not cured within a 61-day grace period, your policy will lapse without value, and no death benefit or other benefits will be payable. You can apply to reinstate a policy that has gone into default, subject to conditions including payment of a specified amount of additional premiums.
 
See “Policy Lapse and Reinstatement” in the statutory prospectus.
 
RESTRICTIONS
Investments
  
There are limitations on the transfer of Policy value among investment options (i.e., Subaccounts and the Fixed Account). These restrictions include an annual limit on the number of free transfers you may make, and a charge for transfers in excess of that limit, as well as a minimum dollar amount for transfers. We also impose additional restrictions to discourage market timing and disruptive trading activity.
 
See “Transfers” in the statutory prospectus.
 
The Policy also allows us to eliminate the shares of a Portfolio or class of Portfolio shares, or to substitute shares of another new or existing Portfolio, subject to applicable legal requirements.
 
See “The Variable Account and the Portfolios” in the statutory prospectus.
 
Optional Benefits
  
There are restrictions and limitations relating to supplemental benefits (riders) offered under the Policy, as well as conditions under which a supplemental benefit may be modified or terminated by us. For example, certain supplemental benefits may be subject to underwriting, and your election of an option may result in restrictions on certain policy benefits.
 
See “Other Benefits Available Under the Policy” in the statutory prospectus.
 
TAXES
Tax Implications
  
You should consult with a tax professional to determine the tax implications of an investment in and payments received under the Policy. There is no additional tax benefit to you if the policy is purchased through a tax-qualified plan. If we pay out any amount of your policy value upon surrender or partial withdrawal, all or part of that distribution would generally be treated as a return of the premiums you’ve paid and not subjected to income tax, unless the Policy is a Modified Endowment Policy in which case to the extent there are earnings in the contract, they will be treated as being distributed first and subject to tax. Any portion not treated as a return of your premiums is includible in your income. The taxable portion of distributions also is subject to tax penalties under some circumstances.
 
See “Federal Tax Considerations” in the statutory prospectus.
 
 
CONFLICTS OF INTEREST
Investment Professional Compensation
  
The Policy is currently not being issued, however, some investment professionals may receive compensation in connection with additional Premiums in an outstanding Policy, including by means of commissions, and may have a financial incentive to recommend such additional premiums over another investment.
 
See “Additional Information” in the statutory prospectus.
 
Exchanges
  
Some investment professionals may have a financial incentive to offer you a new policy in place of the one you already own, and you should only exchange your policy if you determine, after comparing the features, fees, and risks of both policies, that it is preferable for you to purchase the new policy rather than continue to own the existing policy.
 
See “The Policy – Tax-Free “Section 1035” Exchanges” in the statutory prospectus.
 
 
Appendix: Portfolios Available Under the Policy
The following is a list of Portfolios under the Contract. More information about the Portfolios is available in the prospectuses for the Portfolios, which may be amended from time to time and can be found online at
https://vpx.broadridge.com/GetContract1.asp?cid=fnwl&fid=vul1. You can also request this information at no cost by calling
1-877-376-8008 or emailing us at [email protected].
The current expenses and performance information below reflects fees and expenses of the Portfolios, 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’s past performance is not necessarily an indication of future performance.
 
Investment Objective
Portfolio and Adviser/Subadviser
Current
Expenses
Average Annual
Total Returns
(as of 12/31/25)
1 year
5 year
10 year
Seeks capital growth.
BNY Mellon Small Cap Portfolio (Service Shares)3
 
Investment Adviser:
BNY Mellon Investment Adviser, Inc.
 
Subadviser:
Newton Investment Management North America, LLC.
 
0.98%
 
10.70%
 
4.00%
 
7.56%
Seeks long-term capital appreciation.
BNY Mellon Sustainable U.S. Equity Portfolio, Inc. (Service Shares)
 
Investment Adviser:
BNY Mellon Investment Adviser, Inc.
 
Subadviser:
Newton Investment Management Limited
 
0.91%
 
15.67%
 
11.65%
 
13.27%
Seeks to provide long-term capital appreciation by investing primarily in a portfolio of the equity securities of mid-sized companies that are undervalued but demonstrate a potential for growth.
Calvert VP SRI Mid Cap Portfolio1, 4
 
 
 
 
Investment Adviser:
Calvert Research and Management
 
0.99%
 
1.46%
 
2.95%
 
6.91%
Seeks long-term growth of capital, current income and growth of income.
DWS Core Equity VIP (Series I) (Class A Shares)
 
Investment Adviser:
DWS Investment Management Americas, Inc.
 
0.59%
 
16.83%
 
13.27%
 
13.53%
Seeks long-term growth of capital.
DWS CROCI® International VIP (Series I) (Class A Shares)1
 
Investment Adviser:
DWS Investment Management Americas, Inc.
 
0.94%
 
44.90%
 
10.86%
 
8.21%
Seeks to achieve a high rate of total return.
DWS CROCI® U.S. VIP (Series II) (Class A Shares)1
 
Investment Adviser:
DWS Investment Management Americas, Inc.
 
0.79%
 
17.19%
 
12.30%
 
8.17%
Seeks above-average capital appreciation over the long term.
DWS Global Small Cap VIP (Series I) (Class A Shares)1
 
Investment Adviser:
DWS Investment Management Americas, Inc.
 
1.08%
 
20.51%
 
6.74%
 
6.70%
Seeks maximum current income to the extent consistent with stability of principal.
DWS Government Money Market VIP (Series II) (Class A Share Class)
 
Investment Adviser:
DWS Investment Management Americas, Inc.
0.39%
3.96%
2.97%
1.87%
Seeks to provide a high level of current income.
DWS High Income VIP (Series II) (Class A Shares)1
 
Investment Adviser:
DWS Investment Management Americas, Inc.
0.90%
8.94%
4.25%
6.00%
Seeks long-term capital appreciation.
DWS Small Mid Cap Growth VIP (Series II) (Class A Shares)1
 
Investment Adviser:
DWS Investment Management Americas, Inc.
 
0.85%
 
8.11%
 
2.05%
 
7.34%
Seeks to achieve capital appreciation.
Fidelity® VIP Growth Portfolio (Service Class Shares)
 
Investment Adviser:
Fidelity Management & Research Company LLC
 
 
0.65%
 
14.80%
 
13.59%
 
17.33%
Seeks investment results that correspond to the total return of common stocks publicly traded in the United States, as represented by the S&P 500.
Fidelity® VIP Index 500 Portfolio (Service Class Shares)
 
Investment Adviser:
Fidelity Management & Research Company LLC
 
Subadviser:
Geode Capital Management, LLC
 
0.19%
 
17.66%
 
14.20%
 
14.59%
Seeks long-term growth of capital.
Fidelity® VIP Mid Cap Portfolio (Service Class Shares)
 
Investment Adviser:
Fidelity Management & Research Company LLC  
 
 
0.65%
 
11.66%
 
10.00%
 
10.48%
Seeks long-term total return. Under normal market conditions, the fund invests at least 80% of its net assets in investments of small capitalization companies.
Franklin Small Cap Value VIP Fund (Class 2 Shares)
 
Investment Adviser:
Franklin Mutual Advisers, LLC
 
0.92%
 
7.65%
 
8.86%
 
9.81%
Seeks long-term capital growth. Under normal market conditions, the fund invests at least 80% of its net assets in investments of small-capitalization and mid-capitalization companies.
Franklin Small-Mid Cap Growth VIP Fund (Class 2 Shares)1
 
 
Investment Adviser:
Franklin Advisers, Inc.
 
1.09%
 
2.52%
 
1.03%
 
9.89%
Seeks long-term capital appreciation.
Goldman Sachs Mid Cap Value Fund (Institutional Class Shares)1
 
Investment Adviser:
Goldman Sachs Asset Management, L.P.
0.84%
 
9.39%
 
10.05%
 
10.02%
Seeks long-term growth of capital.
Goldman Sachs Small Cap Equity Insights Fund (Institutional Class Shares)1
 
Investment Adviser:
Goldman Sachs Asset Management, L.P.
0.88%
16.14%
10.47%
10.84%
Seeks long-term growth of capital.
Goldman Sachs Strategic Growth Fund (Institutional Class Shares)1
 
Investment Adviser:
Goldman Sachs Asset Management, L.P.
0.79%
17.92%
12.75%
16.41%
Seeks long-term capital growth, consistent with preservation of capital and balanced by current income.
Janus Henderson Balanced Portfolio (Service Class Shares)
 
Investment Adviser:
Janus Henderson Investors US LLC
 
0.87%
 
14.82%
 
8.21%
 
9.86%
Seeks long-term growth of capital.
Janus Henderson Enterprise Portfolio (Service Class Shares)
 
Investment Adviser:
Janus Henderson Investors US LLC
 
0.97%
 
7.41%
 
7.35%
 
12.51%
Seeks long-term growth of capital.
Janus Henderson Forty Portfolio (Institutional Class Shares)
 
Investment Adviser:
Janus Henderson Investors US LLC
 
0.62%
 
18.14%
 
11.65%
16.24%
Seeks maximum total return, consistent with preservation of capital and prudent investment management.
PIMCO International Bond Portfolio (U.S. Dollar-Hedged)
(Administrative Class Shares)
 
Investment Adviser: Pacific Investment Management Company LLC
 
1.09%
 
3.95%
 
1.03%
 
2.88%
Seeks maximum total return, consistent with preservation of capital and prudent investment management.
PIMCO Low Duration Portfolio (Administrative Class Shares)
 
Investment Adviser: Pacific Investment Management Company LLC
 
0.66%
 
5.52%
 
1.57%
 
1.79%
Seeks to provide current income and long-term growth of income and capital.
Principal PVC Equity Income Account (Class 2 Shares)
 
Investment Adviser:
Principal Global Investors, LLC
 
0.73%
 
15.25%
 
9.94%
 
11.24%
Seeks to long-term growth of capital.
Principal PVC MidCap Account (Class 2 Shares)
 
Investment Adviser:
Principal Global Investors, LLC
 
0.78%
 
1.52%
 
8.06%
 
12.30%
Seeks to provide long-term growth of capital.
Principal PVC Principal Capital Appreciation Account (Class 2 Shares)
 
Investment Adviser:
Principal Global Investors, LLC
 
0.88%
 
13.22%
 
13.53%
 
14.07%
Seeks long-term growth of capital.
Principal PVC SmallCap Account (Class 2 Shares)
 
Investment Adviser:
Principal Global Investors, LLC
 
1.10%
 
14.78%
 
6.02%
 
9.29%
Seeks to provide as high a level of total return as is consistent with reasonable risk.
Principal SAM Balanced Portfolio (Class 2 Shares)
 
Investment Adviser:
Principal Global Investors, LLC
 
0.48%
 
13.65%
 
6.99%
 
8.01%
Seeks to provide a high level of total return  consistent with a moderate degree of principal risk.
Principal SAM Conservative Balanced Portfolio (Class 2 Shares)
 
Investment Adviser:
Principal Global Investors, LLC
 
0.49%
 
11.28%
 
4.78%
 
6.12%
Seeks to provide long-term capital appreciation.
Principal SAM Conservative Growth Portfolio (Class 2 Shares)
 
Investment Adviser:
Principal Global Investors, LLC
 
0.49%
 
15.31%
 
8.74%
 
9.67%
Seeks to provide a high level of total return.
Principal SAM Flexible Income Portfolio (Class 2 Shares)
 
Investment Adviser:
Principal Global Investors, LLC
 
0.50%
 
9.61%
 
3.31%
 
4.85%
Seeks to provide long-term capital appreciation.
Principal SAM Strategic Growth Portfolio (Class 2 Shares)
 
Investment Adviser:
Principal Global Investors, LLC
 
0.49%
 
16.61%
 
9.88%
 
10.69%
Seeks long-term capital appreciation. Under normal market conditions, the fund invests at least 80% of its net assets in emerging markets investments.
Templeton Emerging Markets VIP Fund (Class 2 Shares)5
 
Investment Adviser:
Templeton Asset Management Ltd.
 
Subadviser:
Franklin Templeton Investment Management Limited
 
1.37%
 
46.27%
 
5.46%
 
10.40%
1 The Subaccount that invests in this Portfolio is closed to new investors.
2 This Portfolio is subject to an expense reimbursement or fee waiver arrangement resulting in a temporary expense reduction. See the Portfolio’s prospectus for additional information.

 3
Effective December 31, 2025, the BNY Opportunistic Small Cap Portfolio is renamed BNY Small Cap Portfolio.

4
Effective April 27, 2026, the Calvert VP SRI Mid Cap Portfolio is liquidated.
5 Effective May 1, 2026, the Templeton Developing Markets VIP Fund is renamed the Templeton Emerging Markets VIP Fund.


Back Cover Page
This Summary Prospectus incorporates by reference the Policy statutory prospectus dated May 1, 2026, as amended or supplemented.
The EDGAR contract identifier for the Contract is C000027245.


1

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 8/1/2026

1. AMZN
2. RBLX
3. AAPL
4. RDDT
5. COIN
6. NBIX
7. DXCM
8. GH
9. GDDY
10. WU


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

You May Also Be Interested In





Related Categories

SEC Filings