Lincoln Life Variable Annuity Account N CORRESP Correspondence with SEC

Legal Department

The Lincoln National Life Insurance Company

1300 S. Clinton Street

FOrt Wayne, IN 46802

Mary Jo Ardington

Vice President

and Associate General Counsel

Phone: 260-455-3917

MaryJo.Ardington@LFG.com

VIA Email & EDGAR

April 18, 2017

Alberto Zapata

Senior Counsel

Disclosure Review and Accounting Office

Division of Investment Management

Securities and Exchange Commission

100 F Street, NE

Washington, DC 20549

RE:

Lincoln National Variable Annuity Account H Post-Effective Amendment No. 62 File No. 333-63505	Lincoln Life Variable Annuity Account N Post-Effective Amendment No. 42 File No. 333-138190

Lincoln Life & Annuity Variable Annuity Account H Post-Effective Amendment No. 31 File No. 333-141763	Lincoln New York Account N for Variable Annuities Post-Effective Amendment No. 32 File No. 333-145531

Dear Mr. Zapata:

This letter is in response to your comments of April 3, 2017. The blacklined prospectuses attached to this letter reflect changes made in response to these comments.

Specifically in reference to File No. 333-63505, please consider creating a separate prospectus for new sales. This prospectus contains so much "legacy" information that the Staff is concerned that people won't know what they are buying.

Response: Over the next twelve months, we will attempt to move broker-dealers to another product so that we can close this product to new sales. If we cannot close the product, we will prepare a new prospectus to be used for new sales. We have rearranged certain legacy information in the current disclosure to help improve clarity.

The following questions and responses were received under File No. 333-63505, but apply to all of the registration statements listed above.

1.	Please file the SAI in the next post-effective amendment.

Response: The SAI will be included in the next post-effective filing.

2.	These page numbers referenced in these comments are from File No. 333-63505. Unless otherwise indicated, please make conforming changes to the other three filings listed above, as applicable.

Response: Conforming changes have been made to all of the registrations statements listed above.

3.	Confirm all necessary Rate Sheet disclosure has been included in prospectus.

Response: All necessary Rate Sheet disclosure has been included in the prospectus.

4.	Rate Sheets

a.	Confirm that historic rates are included in an appendix.

b.	Confirm that the Rate Sheet is in the same format as previously reviewed by staff.

c.	Confirm that the Rate Sheet will be delivered with the prospectus and will be in the front.

Response: We confirm all of the above.

5.	Expense Tables

a.	Contractowner Transaction Expenses

i.	Include any applicable surrender charge and surrender charge schedule.

ii.	Clarify whether there is an underlying transfer charge or other transaction expense upon which an interest adjustment is assessed.

iii.	Confirm that there is no separate transfer, exchange, or withdrawal charge on the variable side of the contract.

Table A

i.	Make it clear that the first column reflects the charges for non-fee-based contracts.

ii.	Footnote 1 – fees that apply during the accumulation phase are listed. If there are different fees that would apply during the annuitization phase, add appropriate narrative and cross-reference.

iii.	Footnote 9, 10, 11 – Remove the disclosure that discusses prior scenarios if appropriate. Keep explanatory discussion to a minimum, and instead keep the discussion specific to variation of charges. Move legacy information to an appendix if possible.

c.	Table E – Set off current rates from historic rates.

Response:

a.	Contractowner Transaction Expenses

i.	No surrender charge applies to these contracts.

ii.

There is no “transfer charge” or other transaction fee that is not included in this disclosure. The interest adjustment applies only to amounts withdrawn, surrendered, or transferred from the fixed account. The disclosure has been revised to clarify this point. The interest adjustment does not apply to the variable account.

iii.	There is no separate transfer, exchange, or withdrawal charge on the variable side of the contract (except for the New York products, and this transfer charge is disclosed).

Table A

i.	We have added a heading for the A Share contracts.

ii.	The only fee that applies in the annuitization phase is the Mortality and Expense risk and Administrative Charge which is stated in footnote 3 of Table A. Footnote 3 has been re-written based on a later comment.

iii.	These references are still relevant as there are outstanding contracts to which each scenario may apply; for example, individual contractowners could elect a step-up which will increase the charge.

c.	We were able to remove historical information on Table D (formerly Table E) since no one purchased the prior versions of the rider.

6.	Consider adding a new heading and section following the Summary of Common Questions for Condensed Financial Information that will refer the reader to the Appendix.

Response: We have added a separate heading for Condensed Financial Information.

7.	The Lincoln National Life Insurance Company

a.	Please confirm that Item 5f of Form N-4 is adequately addressed concerning administrator and servicing agent identities and descriptions.

b.	In the bold paragraph, please clarify whether the contractowner can allocate to the fixed account.

Response:

a.	Lincoln does not use a third party administrator or servicing agent except for Records and Reports described later in the prospectus.

b.	We have specified that the fixed account is not currently available except for dollar cost averaging.

8.	Financial Statements – Update the dates of the financial statements.

Response: The dates have been updated to 2016.

9.	Charges and Other Deductions

a.	Move the footnote under the first table to an appendix.

b.	Charge sections for discontinued riders – consider moving the fee discussion for historical/discontinued riders to an appendix, or to the end of this section.

Response:

a.	We were concerned that separating prior M&E charges would be too confusing; however we did move prior sales charge information to the end of this section.

b.	We moved discontinued riders to the end of this section.

10.	Replacement of Existing Insurance – Consider disclosing if an exchange fee is incurred.

Response: Language was added to consider any applicable exchange fee.

11.	Allocation Investment Strategy – Consider whether this disclosure is needed.

Response: This section has been removed.

12.	Death Benefit – Estate Enhancement Benefit – Consider moving this discussion to an appendix.

Response: This section has been moved to an appendix.

13.	Make clear in your discussion that the payment of the advisory fees to your financial professional are considered withdrawals and will have the effect of reducing the amount of withdrawals available to you under the rider.

Response: This language has been added in the Withdrawal section for each applicable living benefit rider.

These comments were received for File No. 333-138190.

1.	Confirm the correctness of the EDGAR Series identifier of this contract.

Response: The Class ID is C000041381.

2.	Table C, Footnote 3 – Prior Rider – This term is not defined until page 31. Consider defining in glossary or prior to first use.

Response: The term “Prior Rider” is part of the heading of another section we are cross-referencing.

These comments were received for File No. 333-141763.

1.	Cover page, 4th paragraph – Confirm that the interest adjustment does not apply to the variable account.

Response: The interest adjustment only applies to the fixed account.

2.	Expense Tables

a.	Consider providing the premium tax range in the preamble to the expense tables.

b.	Re-write footnote 3 in Plain English.

c.	Please consider stating “paid on a quarterly basis” one time instead of repeating multiple times.

Response:

a.	We redrafted the premium tax language for New York.

b.	This footnote has been rewritten.

c.	We left this language in each footnote so it would be clear to our readers.

3.	Examples – Please add in the preamble that any waivers included in the examples are for the term of the waiver.

Response: The Examples are calculated using the fees and expenses of the funds prior to the application of any contractual waivers and/or reimbursements.

These comments were received for File No. 333-145531.

1.	Expense Table B – remove the “B Share” heading

Response: This heading has been removed.

Please call me at 260-455-3917 with any questions or additional comments.

Sincerely,

Mary Jo Ardington

<PAGE>

Lincoln ChoicePlus AssuranceSM (A Share)
Individual Variable Annuity Contracts
Lincoln Life Variable Annuity Account N
May 1, 2017

Home Office:
The Lincoln National Life Insurance Company
1300 South Clinton Street
Fort Wayne, IN 46802
www.LincolnFinancial.com
1-888-868-2583

This prospectus describes an individual flexible premium deferred variable
annuity contract that is issued by The Lincoln National Life Insurance Company
(Lincoln Life or Company). This contract can be purchased primarily as either a
nonqualified annuity or qualified retirement annuity under Sections 408 (IRAs)
and 408A (Roth IRAs) of the tax code. Generally, you do not pay federal income
tax on the contract's growth until it is paid out. You receive tax deferral for
an IRA whether or not the funds are invested in an annuity contract. Further,
if your contract is a Roth IRA, you generally will not pay income tax on a
distribution, provided certain conditions are met. Therefore, there should be
reasons other than tax deferral for purchasing a qualified annuity contract.

The contract is designed to accumulate Contract Value and to provide income
over a certain period of time, or for life, subject to certain conditions. The
benefits offered under this contract may be a variable or fixed amount, if
available, or a combination of both. This contract also offers a Death Benefit
payable upon the death of the Contractowner or Annuitant. This prospectus is
used by both new purchasers and current Contractowners. Certain benefits
described in this prospectus are no longer available.

The state in which your contract is issued will govern whether or not certain
features, riders, restrictions, limitations, charges and fees will apply to
your contract. All material state variations are discussed in this prospectus,
however, non-material variations may not be discussed. You should refer to your
contract regarding state-specific features. Please check with your registered
representative regarding availability.

The minimum initial Gross Purchase Payment for the contract is $1,500 ($10,000
if sold as part of a fee-based plan). The minimum initial Gross Purchase
Payment for nonqualified contracts sold as part of a Fee-Based Financial Plan
where i4LIFE (Reg. TM) Advantage is elected, and where the Contractowner, joint
owner and/or Annuitant are ages 86 to 90 (subject to additional terms and
limitations, and Home Office approval) is $50,000. Additional Gross Purchase
Payments, subject to certain restrictions, may be made to the contract and must
be at least $100 per payment ($25 if transmitted electronically), and at least
$300 annually. Upon advance written notice, we reserve the right to limit,
restrict, or suspend Purchase Payments made to the contract.

Except as noted below, you choose whether your Contract Value accumulates on a
variable or a fixed (guaranteed) basis or both. Your contract may not offer a
fixed account or if permitted by your contract, we may discontinue accepting
Net Purchase Payments or transfers into the fixed side of the contract at any
time. If any portion of your Contract Value is in the fixed account, we promise
to pay you your principal and a minimum interest rate. For the life of your
contract or during certain periods, we may impose restrictions on the fixed
account. Also, an Interest Adjustment may be applied to any withdrawal,
surrender or transfer from the fixed account before the expiration date of a
Guaranteed Period.

All Net Purchase Payments for benefits on a variable basis will be placed in
Lincoln Life Variable Annuity Account N (Variable Annuity Account [VAA]). The
VAA is a segregated investment account of Lincoln Life. You take all the
investment risk on the Contract Value and the retirement income for amounts
placed into one or more of the contract's variable options ("Subaccounts"),
which, in turn, invest in corresponding underlying funds. If the Subaccounts
you select make money, your Contract Value goes up; if they lose money, it goes
down. How much it goes up or down depends on the performance of the Subaccounts
you select. We do not guarantee how any of the Subaccounts or their funds will
perform. Also, neither the U.S. Government nor any federal agency insures or
guarantees your investment in the contract. The contracts are not bank deposits
and are not endorsed by any bank or government agency.

The available funds are listed below:

1
<PAGE>

AIM Variable Insurance Funds (Invesco Variable Insurance Funds):
Invesco V.I. Equally-Weighted S&P 500 Fund1
Invesco V.I. International Growth Fund

AllianceBernstein Variable Products Series Fund:
AB VPS Global Thematic Growth Portfolio
AB VPS Small/Mid Cap Value Portfolio

ALPS Variable Investment Trust:
ALPS/Stadion Core ETF Portfolio*

American Century Variable Portfolios, Inc.:
American Century VP Balanced Fund
American Century VP Large Company Value Fund*

American Funds Insurance Series (Reg. TM):
American Funds Global Growth Fund*
American Funds Global Small Capitalization Fund*
American Funds Growth Fund*
American Funds Growth-Income Fund*
American Funds International Fund*

BlackRock Variable Series Funds, Inc.:
BlackRock Global Allocation V.I. Fund

Delaware VIP (Reg. TM) Trust:
Delaware VIP (Reg. TM) Diversified Income Series
Delaware VIP (Reg. TM) Emerging Markets Series
Delaware VIP (Reg. TM) High Yield Series*
Delaware VIP (Reg. TM) Limited-Term Diversified Income Series
Delaware VIP (Reg. TM) REIT Series
Delaware VIP (Reg. TM) Small Cap Value Series
Delaware VIP (Reg. TM) Smid Cap Core Series
(formerly Delaware VIP (Reg. TM) Smid Cap Growth Series)
Delaware VIP (Reg. TM) U.S. Growth Series
Delaware VIP (Reg. TM) Value Series

Deutsche Variable Series II:
Deutsche Alternative Asset Allocation VIP Portfolio

Fidelity (Reg. TM) Variable Insurance Products:
Fidelity (Reg. TM) VIP Contrafund (Reg. TM) Portfolio
Fidelity (Reg. TM) VIP FundsManager (Reg. TM) 50% Portfolio
Fidelity (Reg. TM) VIP Growth Portfolio
Fidelity (Reg. TM) VIP Mid Cap Portfolio

First Trust Variable Insurance Trust:
First Trust/Dow Jones Dividend & Income Allocation Portfolio2

Franklin Templeton Variable Insurance Products Trust:
Franklin Income VIP Fund
Franklin Mutual Shares VIP Fund
Templeton Global Bond VIP Fund*

JPMorgan Insurance Trust:
JPMorgan Insurance Core Bond Portfolio
JPMorgan Insurance Trust Global Allocation Portfolio*

Legg Mason Partners Variable Equity Trust:
ClearBridge Variable Large Cap Growth Portfolio*
ClearBridge Variable Mid Cap Portfolio
QS Variable Conservative Growth*

Lincoln Variable Insurance Products Trust:
LVIP American Century Select Mid Cap Managed Volatility Fund
LVIP American Global Growth Fund*
LVIP American Global Small Capitalization Fund*
LVIP American Growth Fund*

LVIP American Growth-Income Fund*
LVIP American International Fund*
LVIP Baron Growth Opportunities Fund
LVIP BlackRock Dividend Value Managed Volatility Fund
LVIP BlackRock Global Allocation V.I. Managed Risk Fund
LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP BlackRock Scientific Allocation Fund*
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund
LVIP Blended Core Equity Managed Volatility Fund
LVIP Blended Large Cap Growth Managed Volatility Fund
LVIP Blended Mid Cap Managed Volatility Fund
LVIP Clarion Global Real Estate Fund
LVIP ClearBridge Large Cap Managed Volatility Fund
LVIP Delaware Bond Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP Delaware Social Awareness Fund
LVIP Delaware Special Opportunities Fund
LVIP Delaware Wealth Builder Fund*
(formerly LVIP Delaware Foundation (Reg. TM) Aggressive Allocation Fund)
LVIP Dimensional International Core Equity Fund
LVIP Dimensional International Equity Managed Volatility Fund
LVIP Dimensional U.S. Core Equity 1 Fund
LVIP Dimensional U.S. Core Equity 2 Fund
LVIP Dimensional U.S. Equity Managed Volatility Fund
LVIP Dimensional/Vanguard Total Bond Fund
LVIP Franklin Templeton Global Equity Managed Volatility Fund
LVIP Franklin Templeton Multi-Asset Opportunities Fund
LVIP Franklin Templeton Value Managed Volatility Fund
LVIP Global Conservative Allocation Managed Risk Fund
LVIP Global Growth Allocation Managed Risk Fund
LVIP Global Income Fund
LVIP Global Moderate Allocation Managed Risk Fund
LVIP Goldman Sachs Income Builder Fund
LVIP Government Money Market Fund
LVIP Invesco Diversified Equity-Income Managed Volatility Fund
LVIP Invesco Select Equity Managed Volatility Fund
LVIP JPMorgan High Yield Fund
LVIP JPMorgan Select Mid Cap Value Managed Volatility Fund
LVIP JPMorgan Retirement Income Fund*
LVIP Managed Risk Profile 2010 Fund*
LVIP Managed Risk Profile 2020 Fund*
LVIP Managed Risk Profile 2030 Fund*
LVIP Managed Risk Profile 2040 Fund*
LVIP MFS International Equity Managed Volatility Fund
LVIP MFS International Growth Fund
LVIP MFS Value Fund
LVIP Mondrian International Value Fund
LVIP Multi-Manager Global Equity Managed Volatility Fund
LVIP PIMCO Low Duration Bond Fund
LVIP Select Core Equity Managed Volatility Fund
LVIP SSGA Bond Index Fund
LVIP SSGA Conservative Index Allocation Fund

2
<PAGE>

LVIP SSGA Conservative Structured Allocation Fund
LVIP SSGA Developed International 150 Fund
LVIP SSGA Emerging Markets 100 Fund
LVIP SSGA Global Tactical Allocation Managed Volatility Fund
LVIP SSGA International Index Fund
LVIP SSGA International Managed Volatility Fund
LVIP SSGA Large Cap 100 Fund
LVIP SSGA Large Cap Managed Volatility Fund
LVIP SSGA Mid-Cap Index Fund
LVIP SSGA Moderate Index Allocation Fund
LVIP SSGA Moderate Structured Allocation Fund
LVIP SSGA Moderately Aggressive Index Allocation Fund
LVIP SSGA Moderately Aggressive Structured Allocation Fund
LVIP SSGA S&P 500 Index Fund3
LVIP SSGA Small-Cap Index Fund
LVIP SSGA Small-Mid Cap 200 Fund
LVIP SSGA SMID Cap Managed Volatility Fund

LVIP T. Rowe Price Growth Stock Fund
LVIP T. Rowe Price Structured Mid-Cap Growth Fund
LVIP U.S. Growth Allocation Managed Risk Fund
LVIP Vanguard Domestic Equity ETF Fund
LVIP Vanguard International Equity ETF Fund
LVIP Wellington Capital Growth Fund
LVIP Wellington Mid-Cap Value Fund
LVIP Western Asset Core Bond Fund*

MFS (Reg. TM) Variable Insurance Trust:
MFS (Reg. TM) VIT Growth Series
MFS (Reg. TM) VIT Total Return Series
MFS (Reg. TM) VIT Utilities Series

PIMCO Variable Insurance Trust:
PIMCO VIT CommodityRealReturn (Reg. TM) Strategy Portfolio*

Putnam Variable Trust:
Putnam VT George Putnam Balanced Fund

*Not all funds are available in all contracts. Refer to the Description of the
Funds section of this prospectus for specific information regarding
availability of funds.

1 Standard & Poor's (Reg. TM)," "S&P (Reg. TM)," "Standard & Poor's Equal
Weight Index," "S&P EWI," "S&P 500 (Reg. TM)," "Standard & Poor's 500" and
"500" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed
for use by the Invesco V.I. Equally-Weighted S&P 500 Fund. The fund is not
sponsored, endorsed, sold or promoted by S&P, and S&P makes no representation
regarding the advisability of investing in the fund.

2 Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow
Jones"). The trademark has been licensed to S&P Dow Jones Indices LLC and has
been sublicensed for use for certain purposes by First Trust Advisors L.P. The
product is not sponsored, endorsed, sold or promoted by Standard & Poor's and
Standard & Poor's makes no representation regarding the advisability of
purchasing the product.

3 The Index to which this fund is managed to is a product of S&P Dow Jones
Indices LLC ("SPDJI") and has been licensed for use by one or more of the
portfolio's service providers (licensee). Standard & Poor's (Reg. TM) and S&P
(Reg. TM) are registered trademarks of Standard & Poor's Financial Services LLC
(S&P); Dow Jones (Reg. TM) is a registered trademark of Dow Jones Trademark
Holdings LLC (Dow Jones); and these trademarks have been licensed for use by
SPDJI and sublicensed for certain purposes by the licensee. S&P (Reg. TM), S&P
GSCI (Reg. TM) and the Index are trademarks of S&P and have been licensed for
use by SPDJI and its affiliates and sublicensed for certain purposes by the
licensee. The Index is not owned, endorsed, or approved by or associated with
any additional third party. The licensee's products are not sponsored,
endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective
affiliates, or their third party licensors, and none of such parties or their
respective affiliates or third party licensors make any representation
regarding the advisability of investing in such products, nor do they have any
liability for any errors, omissions, or interruptions of the Index.

This prospectus gives you information about the contract that you should know
before you decide to buy a contract and make Gross Purchase Payments. You
should also review the prospectuses for the funds and keep all prospectuses for
future reference.

Neither the SEC nor any state securities commission has approved this contract
or determined that this prospectus is accurate or complete. Any representation
to the contrary is a criminal offense.

More information about the contract is in the current Statement of Additional
Information (SAI), dated the same date as this prospectus. The SAI is
incorporated by reference into this prospectus and is legally part of this
prospectus. For a free copy of the SAI, write: The Lincoln National Life
Insurance Company, PO Box 2348, Fort Wayne, IN 46801-2348, or call
1-888-868-2583. The SAI and other information about Lincoln Life and the VAA
are also available on the SEC's website (http://www.sec.gov). There is a table
of contents for the SAI on the last page of this prospectus.

3
<PAGE>

Table of Contents

Item Page

Special Terms 5
Expense Tables 8
Summary of Common Questions 25
Condensed Financial Information 28
The Lincoln National Life Insurance Company 29
Variable Annuity Account (VAA) 30
Investments of the Variable Annuity Account 30
Charges and Other Deductions 37
The Contracts 52
Purchase Payments 53
Transfers On or Before the Annuity Commencement Date 55
Surrenders and Withdrawals 57
Death Benefit 60
Investment Requirements 63
Living Benefit Riders 74
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) 75
Lincoln Market Select (Reg. TM) Advantage 84
Lincoln Max 6 SelectSM Advantage 91
4LATER (Reg. TM) Select Advantage 97
i4LIFE (Reg. TM) Advantage 100
Guaranteed Income Benefit with i4LIFE (Reg. TM) Advantage 105
Lincoln Long-Term CareSM Advantage 111
Annuity Payouts 134
Fixed Side of the Contract 136
Distribution of the Contracts 139
Federal Tax Matters 140
Additional Information 145
Voting Rights 145
Return Privilege 146
State Regulation 146
Records and Reports 146
Cyber Security 146
Legal Proceedings 147
Contents of the Statement of Additional Information (SAI) for Lincoln Life Variable 148
Annuity Account N
Appendix A - Condensed Financial Information A-1
Appendix B - Condensed Financial Information B-1
Appendix C - Condensed Financial Information C-1
Appendix D - Discontinued Death Benefits and Living Benefit Riders D-1
Appendix E - Guaranteed Annual Income Rates for Previous Rider Elections E-1
Appendix F - Guaranteed Income Benefit Percentages for Previous Rider Elections F-1

4
<PAGE>

Special Terms
In this prospectus, the following terms have the indicated meanings:

5% Enhancement-A feature under certain Living Benefit Riders in which the
Guaranteed Amount or Income Base, minus Purchase Payments received in the
preceding Benefit Year, will be increased by 5%, subject to certain conditions.

6% Enhancement-A feature under Lincoln Max 6 SelectSM Advantage in which an
enhancement amount, equal to 6% of the Enhancement Base minus Purchase Payments
received in the preceding Benefit Year, will be added to the Income Base,
subject to certain conditions.

Access Period-Under i4LIFE (Reg. TM) Advantage, a defined period of time during
which we make Regular Income Payments to you while you still have access to
your Account Value. This means that you may make withdrawals, surrender the
contract, and have a Death Benefit.

Account or Variable Annuity Account (VAA)-The segregated investment account,
Account N, into which we set aside and invest the assets for the variable side
of the contract offered in this prospectus.

Account Value-Under i4LIFE (Reg. TM) Advantage, the initial Account Value is
the Contract Value on the Valuation Date that i4LIFE (Reg. TM) Advantage is
effective (or initial Purchase Payment if i4LIFE (Reg. TM) Advantage is
purchased at contract issue), less any applicable premium taxes. During the
Access Period, the Account Value on a Valuation Date equals the total value of
all of the Contractowner's Accumulation Units plus the Contractowner's value in
the fixed account, reduced by Regular Income Payments, Guaranteed Income
Benefit payments and withdrawals.

Accumulation Unit-A measure used to calculate Contract Value for the variable
side of the contract before the Annuity Commencement Date and to calculate the
i4LIFE (Reg. TM) Advantage Account Value during the Access Period.

Annuitant-The person upon whose life the annuity benefit payments are based,
and upon whose death a Death Benefit may be paid.

Annuity Commencement Date-The Valuation Date when funds are withdrawn or
converted into Annuity Units or fixed dollar payout for payment of retirement
income benefits under the Annuity Payout option you select (other than i4LIFE
(Reg. TM) Advantage).

Annuity Payout-A regularly scheduled payment (under any of the available
annuity options) that occurs after the Annuity Commencement Date (or Periodic
Income Commencement Date if i4LIFE (Reg. TM) Advantage has been elected).
Payments may be variable or fixed, or a combination of both.

Annuity Unit-A measure used to calculate the amount of Annuity Payouts for the
variable side of the contract after the Annuity Commencement Date.

Automatic Annual Step-up-Under certain Living Benefit Riders, the Guaranteed
Amount or Income Base and/or Enhancement Base will automatically step up to the
Contract Value on each Benefit Year anniversary, subject to certain conditions.

Beneficiary-The person you choose to receive any Death Benefit paid if you die
before the Annuity Commencement Date.

Benefit Year-Under certain Living Benefit Riders, the 12-month period starting
with the effective date of the rider and starting with each anniversary of the
rider effective date after that. Under Lincoln SmartSecurity (Reg. TM)
Advantage, if the Contractowner elects a step-up, the Benefit Year will begin
on the effective date of the step-up and each anniversary of the step-up after
that.

Contractowner (you, your, owner)-The person who can exercise the rights within
the contract (decides on investment allocations, transfers, payout option,
designates the Beneficiary, etc.). Usually, but not always, the Contractowner
is the Annuitant.

Contract Value (may be referred to as Account Value in marketing materials)-At
any given time before the Annuity Commencement Date, the total value of all
Accumulation Units of a contract plus the value of the fixed side of the
contract, if any.

Contract Year-Each 12-month period starting with the effective date of the
contract and starting with each contract anniversary after that.

Death Benefit-Before the Annuity Commencement Date, the amount payable to your
designated Beneficiary if the Contractowner dies. As an alternative, the
Contractowner may receive a Death Benefit on the death of the Annuitant prior
to the Annuity Commencement Date.

Enhancement Base-Under Lincoln Max 6 SelectSM Advantage, a value used to
calculate the amount added to the Income Base when a 6% Enhancement occurs. The
amount of the Enhancement Base is equal to your initial Purchase Payment, and
is adjusted as set forth in this prospectus.

Enhancement Period-Under certain Living Benefit Riders, the 10-year period
during which the 5% Enhancement or 6% Enhancement is in effect. A new
Enhancement Period may begin each time an Automatic Annual Step-up to the
Contract Value occurs, depending on which Living Benefit Rider you have
elected, and subject to certain conditions.

Excess Withdrawals-Amounts withdrawn during a Benefit Year, as specified for
each Living Benefit Rider, which decrease or eliminate the guarantees under the
rider.

Fee-Based Financial Plan-A wrap account, managed account or other investment
program whereby an investment firm/
professional offers asset allocation and/or investment advice for a fee. Such
programs can be offered by broker-dealers, banks and registered investment
advisors, trust companies and other firms. Under this arrangement, the
Contractowner pays the investment firm/professional directly for services.
Different

5
<PAGE>

charges and expenses apply to contracts purchased as part of a Fee-Based
Financial Plan.

Good Order-The actual receipt at our Home Office of the requested transaction
in writing or by other means we accept, along with all information and
supporting legal documentation necessary to effect the transaction. The forms
we provide will identify the necessary documentation. We may, in our sole
discretion, determine whether any particular transaction request is in Good
Order, and we reserve the right to change or waive any Good Order requirements
at any time.

Gross Purchase Payments-Amounts paid into the contract before deduction of the
sales charge. References to Purchase Payments refer to Gross Purchase Payments
unless otherwise stated.

Guaranteed Amount-The value used to calculate your withdrawal benefit under
Lincoln Lifetime IncomeSM Advantage or Lincoln SmartSecurity (Reg. TM)
Advantage.

Guaranteed Amount Annuity Payment Option-A fixed Annuity Payout option
available under Lincoln SmartSecurity (Reg. TM) Advantage under which the
Contractowner (and spouse if applicable) will receive annual annuity payments
equal to the Maximum Annual Withdrawal amount for life.

Guaranteed Annual Income-The guaranteed periodic withdrawal amount available
from the contract each Benefit Year for life under certain Living Benefit
Riders.

Guaranteed Annual Income Amount Annuity Payout Option-A payout option available
under certain Living Benefit Riders in which the Contractowner (and spouse if
applicable) will receive annual annuity payments equal to the Guaranteed Annual
Income amount for life.

Guaranteed Period-The period during which Contract Value in a fixed account
will be credited a guaranteed interest rate.

Income Base-Under certain Living Benefit Riders, a value used to calculate
either the Guaranteed Annual Income amount or the minimum payouts under your
contract at a later date. The amount of the Income Base may vary based on when
you elect the rider, and is adjusted as set forth in this prospectus.

Interest Adjustment-An upward or downward adjustment on the amount of Contract
Value in the fixed account upon a transfer, withdrawal or surrender of Contract
Value from the fixed account due to fluctuations in interest rates.

Investment Requirements-Restrictions in how you may allocate your Subaccount
investments if you own certain Living Benefit Riders.

Lifetime Income Period-Under i4LIFE (Reg. TM) Advantage, the period of time
following the Access Period during which we make Regular Income Payments to you
for the rest of your life (and Secondary Life, if applicable). During the
Lifetime Income Period, you will no longer have access to your Account Value or
receive a Death Benefit.

Lincoln Life (we, us, our, Company)-The Lincoln National Life Insurance
Company.

Living Benefit Rider-A general reference to optional riders that provide some
type of a minimum guarantee while you are alive. If you select a Living Benefit
Rider, Excess Withdrawals may have adverse effects on the benefit, and you may
be subject to Investment Requirements.

Maximum Annual Withdrawal-The guaranteed periodic withdrawal available under
Lincoln Lifetime IncomeSM Advantage and Lincoln SmartSecurity (Reg. TM)
Advantage.

Maximum Annual Withdrawal Amount Annuity Payout Option - A fixed Annuity Payout
option available under Lincoln Lifetime IncomeSM Advantage under which the
Contractowner (and spouse if applicable) will receive annual annuity payments
equal to the Maximum Annual Withdrawal amount for life.

Net Purchase Payments-The Gross Purchase Payment amount less the sales charge.
The Net Purchase Payment is the amount placed in the fixed account and/or the
variable account.

Nursing Home Enhancement-A feature that will increase the Guaranteed Annual
Income amount under Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) and
Lincoln Lifetime IncomeSM Advantage 2.0 or the Maximum Annual Withdrawal amount
under Lincoln Lifetime IncomeSM Advantage upon admittance to an approved
nursing care facility, subject to certain conditions.

Periodic Income Commencement Date-The Valuation Date on which the amount of
i4LIFE (Reg. TM) Advantage Regular Income Payments are determined.

Rate Sheet-A prospectus supplement, that will be filed periodically, where we
declare the current Guaranteed Annual Income rates under Lincoln Market Select
(Reg. TM) Advantage, Lincoln Max 6 SelectSM Advantage, and the Guaranteed
Income Benefit percentages under i4LIFE (Reg. TM) Advantage Select Guaranteed
Income Benefit.

Regular Income Payments-The variable, periodic income payments paid under
i4LIFE (Reg. TM) Advantage.

Secondary Life-Under certain Living Benefit Riders, the person designated by
the Contractowner upon whose life the annuity payments will also be contingent.

Selling Group Individuals-A Contractowner who meets one of the following
criteria at the time of the contract purchase and who purchases the contract
without the assistance of a registered representative under contract with us:
o Employees and registered representatives of any member of the selling
group (broker-dealers who have selling agreements with us) and for
contracts purchased prior to November 9, 2009 only, their spouses and
minor children.
o Officers, directors, trustees or bona-fide full-time employees and their
spouses and minor children, of Lincoln Financial Group or any of the
investment advisers of the funds currently being offered, or their
affiliated or managed companies.

Subaccount-Each portion of the VAA that reflects investments in Accumulation
and Annuity Units of a class of a particular

6
<PAGE>

fund available under the contracts. There is a separate Subaccount which
corresponds to each class of a fund.

Valuation Date-Each day the New York Stock Exchange (NYSE) is open for trading.

Valuation Period-The period starting at the close of trading (normally 4:00
p.m. New York time) on each day that the NYSE is open for trading (Valuation
Date) and ending at the close of such trading on the next Valuation Date.

7
<PAGE>

Expense Tables
The following tables describe the fees and expenses that you will pay when
buying, owning, and surrendering the contract.

The first table describes the fees and expenses that you will pay at the time
that you buy the contract, surrender the contract, or transfer Contract Value
between investment options, and/or the fixed account (if available). State
premium taxes may also be deducted. The premium tax rates range from zero to
5%.

CONTRACTOWNER TRANSACTION EXPENSES

Accumulation Phase:
Sales charge (as a percentage of Gross Purchase Payments):1............................. 5.50%
We may also apply an Interest Adjustment to amounts being withdrawn, surrendered or
transferred from a Guaranteed
Period of the fixed account (except for dollar cost averaging, cross-reinvestment,
withdrawals up to the Maximum
Annual Withdrawal amount under Lincoln SmartSecurity (Reg. TM) Advantage and Regular
Income Payments under i4LIFE (Reg. TM)
Advantage). See Fixed Side of the Contract.

1 The sales charge percentage decreases as the value accumulated under certain
of the owner's investment increases. For contracts purchased prior to
February 8, 2010, the maximum sales charge is 5.75%. The sales charge will
be waived for contracts purchased as part of a Fee-Based Financial Plan. See
Charges and Other Deductions.

The following tables describe the fees and expenses that you will pay
periodically during the time that you own the contract, not including fund fees
and expenses. Only one table will apply to a given Contractowner. The tables
differ based on whether the Contractowner has purchased the i4LIFE (Reg. TM)
Advantage rider.
o Table A reflects the expenses for a contract that has not elected i4LIFE
(Reg. TM) Advantage (Base contract).
o Table B reflects the expenses for a contract that has elected i4LIFE (Reg.
TM) Advantage.
o Table C reflects the expenses for i4LIFE (Reg. TM) Advantage Guaranteed
Income Benefit (Managed Risk) for Contractowners who transition from Lincoln
Lifetime IncomeSM Advantage 2.0 (Managed Risk) or 4LATER (Reg. TM) Advantage
(Managed Risk).
o Table D reflects the expenses for i4LIFE (Reg. TM) Advantage Select
Guaranteed Income Benefit for Contractowners who transition from Lincoln
Market Select (Reg. TM) Advantage or 4LATER (Reg. TM) Select Advantage.
o Table E reflects the expenses for i4LIFE (Reg. TM) Advantage for
Contractowners who transition from 4LATER (Reg. TM) Advantage.

TABLE A
Expenses for a Contract that has not Elected i4LIFE (Reg. TM) Advantage (Base
contract)

A -Share Contracts Contracts Purchased as Part of a Fee-Based Financial
Plan
Prior to May 22, 2017 On and after May 22, 2017
Annual Account Fee:1....................... $ 20 N/A $ 50
Separate Account Annual Expenses (as
a percentage of daily assets in the
Subaccounts):2, 3
Estate Enhancement Benefit (EEB)
Mortality and Expense Risk Charge........ 1.15% 1.00% N/A
Administrative Charge.................... 0.10% 0.10% N/A
Total Separate Account Expenses.......... 1.25% 1.10% N/A
Enhanced Guaranteed Minimum Death
Benefit (EGMDB)
Mortality and Expense Risk Charge........ 0.95% 0.80% 0.45%
Administrative Charge.................... 0.10% 0.10% 0.10%
Total Separate Account Expenses.......... 1.05% 0.90% 0.55%
Guarantee of Principal Death Benefit
Mortality and Expense Risk Charge........ 0.70% 0.55% 0.20%
Administrative Charge.................... 0.10% 0.10% 0.10%
Total Separate Account Expenses.......... 0.80% 0.65% 0.30%

8
<PAGE>

Account Value Death Benefit
Mortality and Expense Risk Charge........ 0.65% 0.50% 0.10%
Administrative Charge.................... 0.10% 0.10% 0.10%
Total Separate Account Expenses.......... 0.75% 0.60% 0.20%

Single Joint
Life Life
Optional Living Benefit Rider Charges:
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk):4, 5
Guaranteed Maximum Annual Charge............................................... 2.00% 2.00%
Current Initial Annual Charge.................................................. 1.05% 1.25%
Lincoln Market Select (Reg. TM) Advantage:6
Guaranteed Maximum Annual Charge............................................... 2.25% 2.45%
Current Initial Annual Charge.................................................. 1.25% 1.50%
Lincoln Max 6 SelectSM Advantage:7
Guaranteed Maximum Annual Charge............................................... 2.25% 2.45%
Current Initial Annual Charge.................................................. 1.25% 1.50%
4LATER (Reg. TM) Select Advantage:8
Guaranteed Maximum Annual Charge............................................... 2.25% 2.45%
Current Initial Annual Charge.................................................. 1.25% 1.50%
Lincoln Lifetime IncomeSM Advantage:9
Guaranteed Maximum Charge...................................................... 1.50% 1.50%
Current Charge................................................................. 0.90% 0.90%
Additional Charge for Lincoln Lifetime IncomeSM Advantage Plus................. 0.15% 0.15%
Lincoln SmartSecurity (Reg. TM) Advantage - 1 Year Automatic Step-up option:10
Guaranteed Maximum Charge...................................................... 1.50% 1.50%
Current Charge................................................................. 0.85% 1.00%
Lincoln SmartSecurity (Reg. TM) Advantage - 5 Year Elective Step-up option:10
Guaranteed Maximum Charge...................................................... 0.95% N/A
Current Charge................................................................. 0.85% N/A
4LATER (Reg. TM) Advantage:11
Guaranteed Maximum Charge...................................................... 1.50% N/A
Current Charge................................................................. 0.65% N/A
4LATER (Reg. TM) Advantage (Managed Risk):12
Guaranteed Maximum Charge...................................................... 2.00% 2.00%
Current Charge................................................................. 1.05% 1.25%
Lincoln Long-Term CareSM Advantage:
Acceleration Benefit Charge13
Guaranteed Maximum Charge Level Benefit or Growth Benefit..................... 1.50% N/A
Current Charge Growth Benefit................................................. 0.50% N/A
Current Charge Level Benefit.................................................. 0.35% N/A
Extension Benefit Charge14
Guaranteed Maximum Charge..................................................... N/A N/A
Current Charge (Contractowners ages 70-74).................................... 0.76% N/A
Optional Nonforfeiture Benefit Charge15
Guaranteed Maximum Charge..................................................... N/A N/A
Current Charge (Contractowners ages 70-74).................................... 0.14% N/A

1 During the accumulation phase, the account fee will be deducted from your
Contract Value on each contract anniversary, or upon surrender of the
contract. The account fee will be waived if your Contract Value is $50,000
or more on the contract anniversary (or date of surrender). This account fee
may be less in some states and will be waived after the fifteenth Contract
Year, regardless of your Contract Value unless your contract was purchased
as part of a Fee-Based Financial Plan on and after May 22, 2017. We do not
assess the account fee on contracts issued to Selling Group individuals, or
individuals who purchased the contract as part of a Fee-Based Financial Plan
prior to May 22, 2017.

2 For contracts purchased prior to November 15, 2010 (prior to June 30, 2010
for contracts purchased as part of a Fee-Based Financial Plan), the total
annual charges are as follows: EEB 1.10%; EGMDB 0.90%; Guarantee of
Principal 0.75%; Account Value 0.65%. In the event of a subsequent Death
Benefit change, the charge will be based on the charges in effect at the
time the contract was purchased.

9
<PAGE>

3 A mortality and expense risk and administrative charge of 0.75% of the
Contract Value is charged for A-Share contracts on and after the Annuity
Commencement Date. The charge is 0.20% of the Contract Value on contracts
purchased as part of a Fee-Based Financial Plan on and after May 22, 2017,
or 0.60% of Contract Value on contracts purchased as part of a Fee-Based
Financial Plan between June 30, 2010 and prior to May 22, 2017. The charge
is 0.60% of Contract Value for A-Share contracts purchased prior to November
15, 2010.

4 As an annualized percentage of the Income Base, as increased for subsequent
Purchase Payments, Automatic Annual Step-ups, 5% Enhancements and decreased
by Excess Withdrawals. This charge is deducted from the Contract Value on a
quarterly basis. See Charges and Other Deductions - Lincoln Lifetime
IncomeSM Advantage 2.0 (Managed Risk) Charge for a discussion of these
changes to the Income Base.

5 The charge for Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) also
applies to an older version of the rider - Lincoln Lifetime IncomeSM
Advantage 2.0 - which is no longer available for purchase.

6 As an annualized percentage of the Income Base, as increased by subsequent
Purchase Payments, 5% Enhancements, and/or Automatic Annual Step-ups, and
decreased by Excess Withdrawals. This charge is deducted from the Contract
Value on a quarterly basis. See Charges and Other Deductions - Lincoln
Market Select (Reg. TM) Advantage Charge for more information.

7 As an annualized percentage of the Income Base, as increased by subsequent
Purchase Payments, 6% Enhancements, and Automatic Annual Step-ups, and
decreased by Excess Withdrawals. This charge is deducted from the Contract
Value on a quarterly basis. See Charges and Other Deductions - Lincoln Max 6
SelectSM Advantage Charge for more information.

8 As an annualized percentage of the Income Base, as increased by subsequent
Purchase Payments, 5% Enhancements, and Automatic Annual Step-ups, and
decreased by withdrawals. This charge is deducted from the Contract Value on
a quarterly basis. See Charges and Other Deductions - 4LATER (Reg. TM)
Select Advantage Charge for more information.

9 As an annualized percentage of the Guaranteed Amount as increased for
subsequent Purchase Payments, Automatic Annual Step-ups, 5% Enhancements and
the 200% step-up and decreased for withdrawals. This charge is deducted from
the Contract Value on a quarterly basis. For Lincoln Lifetime IncomeSM
Advantage riders purchased before January 20, 2009, the current annual
charge rate will increase from 0.75% to 0.90% upon the earlier of (a) the
next Automatic Annual Step-up of the Guaranteed Amount or (b) the next
Benefit Year anniversary if cumulative Purchase Payments received after the
first Benefit Year anniversary equal or exceed $100,000. See Charges and
Other Deductions - Lincoln Lifetime IncomeSM Advantage Charge for more
information.

10 As an annualized percentage of the Guaranteed Amount, as increased for
subsequent Purchase Payments, and step-ups and decreased for withdrawals.
This charge is deducted from the Contract Value on a quarterly basis. For
Lincoln SmartSecurity (Reg. TM) Advantage - 1 Year Automatic Step-up option
riders purchased prior to December 3, 2012, the current annual charge rate
will increase to 0.85% (single life option) and 1.00% (joint life option)
upon the next election of a step-up of the Guaranteed Amount. For Lincoln
SmartSecurity (Reg. TM) Advantage - 5 Year Elective Step-up option riders
the current annual charge rate will increase to 0.85% upon the next election
of a step-up of the Guaranteed Amount. See Charges and Other Deductions -
Lincoln SmartSecurity (Reg. TM) Advantage Charge for more information.

11 As an annualized percentage of the Income Base, as increased for subsequent
Purchase Payments, automatic 15% enhancements, and resets and decreased for
withdrawals. This charge is deducted from the Subaccounts on a quarterly
basis. For riders purchased before January 20, 2009, the current annual
charge rate will increase from 0.50% to 0.65% upon the next election to
reset the Income Base. See Charges and Other Deductions - 4LATER (Reg. TM)
Advantage Charge for more information.

12 As an annualized percentage of the Income Base, as increased for subsequent
Purchase Payments, Automatic Annual Step-ups, 5% Enhancements and decreased
by withdrawals. This charge is deducted from the Contract Value on a
quarterly basis. See Charges and Other Deductions - 4LATER (Reg. TM)
Advantage (Managed Risk) Charge for a discussion of these changes to the
Income Base.

13 The Acceleration Benefit Charge rate is assessed against the LTC Guaranteed
Amount as of the date the charge is deducted up to the maximum allowable
charge rate of 1.50% of the LTC Guaranteed Amount. The Acceleration Benefit
Charge percentage rates are different for the Level Benefit and Growth
Benefit. See Charges and Other Deductions - Lincoln Long-Term CareSM
Advantage Charges for more information.

14 The Extension Benefit Charge rate is assessed against the Extension Benefit
as of the date the charge is deducted. The charge varies based upon your age
as of the contract date. There is no maximum guaranteed charge for the
Extension Benefit. The current Extension Benefit Charge rate may increase
after the contract date subject to prior state regulatory approval, although
it will be increased for all Contractowners in the same class as determined
in a nondiscriminatory manner. The highest current charge rate will be 0.68%
(0.17% quarterly) for contracts issued in the following states: AK, AL, AR,
AZ, DC, DE, GA, IA, KY, LA, MD, ME, MI, MO, MS, MT, NC, ND, NE, NM, OK, OR,
RI, SC, SD, WV, WY. For all other states, the highest charge rate will be
0.76% (0.19% quarterly). See Charges and Other Deductions - Lincoln
Long-Term CareSM Advantage Charges for more information.

15 The Optional Nonforfeiture Benefit Charge rate is assessed against the
Extension Benefit as of the date the charge is deducted. The charge varies
based upon your age as of the contract date. There is no maximum guaranteed
charge for the Optional Nonforfeiture Benefit. The current Optional
Nonforfeiture Benefit Charge rate may increase after the contract date
subject to prior state regulatory approval, although it will be the same for
all Contractowners in the same class as determined in a nondiscriminatory
manner. The highest current charge rate will be 0.14% (0.035% quarterly) for
the state of Texas, 0.13% (0.0325% quarterly) for the state of California,
and 0.11% (0.0275% quarterly) for contracts issued in the following states:
AK, AL, AR, AZ, DC, DE, GA, IA, KY, LA, MD, ME, MI, MO, MS, MT, NC, ND, NE,
NM, OK, OR, RI, SC, SD, WV, WY. For all other states, the highest charge
rate will be 0.12% (0.03% quarterly). See Charges and Other Deductions -
Lincoln Long-Term CareSM Advantage Charges for more information.

TABLE B
Expenses for a Contract that has Elected i4LIFE (Reg. TM) Advantage

A-Share Contracts Contracts Purchased as Part of a Fee-Based Financial Plan
Prior to May 22, 2017 On and after May 22, 2017
Annual Account Fee:1........ $20 N/A $50

10
<PAGE>

i4LIFE (Reg. TM) Advantage without a Guaranteed
Income Benefit rider:2 Single/Joint Life Single/Joint Life Single/Joint Life
Enhanced Guaranteed Minimum Death
Benefit (EGMDB)............................... 1.45% 1.30% 0.95%
Guarantee of Principal Death Benefit........... 1.20% 1.05% 0.70%
Account Value Death Benefit.................... 1.15% 1.00% 0.60%

A-Share Contracts Contracts Purchased as Part of a Fee-Based
Financial Plan
Prior to May 22, On and after May 22,
2017 2017
i4LIFE (Reg. TM) Advantage Select Guaranteed Single Joint Single Joint Single Joint
Income Benefit:3 Life Life Life Life Life Life
Enhanced Guaranteed Minimum Death
Benefit (EGMDB)
Guaranteed Maximum Charge................. 3.70% 3.90% 3.55% 3.75% 3.20% 3.40%
Current Charge............................ 2.40% 2.60% 2.25% 2.45% 1.90% 2.10%
Guarantee of Principal Death Benefit
Guaranteed Maximum Charge................. 3.45% 3.65% 3.30% 3.50% 2.95% 3.15%
Current Charge............................ 2.15% 2.35% 2.00% 2.20% 1.65% 1.85%
Account Value Death Benefit
Guaranteed Maximum Charge................. 3.40% 3.60% 3.25% 3.45% 2.85% 3.05%
Current Charge............................ 2.10% 2.30% 1.95% 2.15% 1.55% 1.75%

A-Share Contracts Contracts Purchased as Part of a Fee-Based
Financial Plan
Prior to May 22, On and after May 22,
2017 2017
i4LIFE (Reg. TM) Advantage Guaranteed Income
Benefit (Managed Risk) and Guaranteed Single Joint Single Joint Single Joint
Income Benefit (version 4):4 Life Life Life Life Life Life
Enhanced Guaranteed Minimum Death
Benefit (EGMDB)
Guaranteed Maximum Charge................. 3.45% 3.45% 3.30% 3.30% 2.95% 2.95%
Current Charge............................ 2.10% 2.30% 1.95% 2.15% 1.60% 1.80%
Guarantee of Principal Death Benefit
Guaranteed Maximum Charge................. 3.20% 3.20% 3.05% 3.05% 2.70% 2.70%
Current Charge............................ 1.85% 2.05% 1.70% 1.90% 1.35% 1.55%
Account Value Death Benefit
Guaranteed Maximum Charge................. 3.15% 3.15% 3.00% 3.00% 2.60% 2.60%
Current Charge............................ 1.80% 2.00% 1.65% 1.85% 1.25% 1.45%

A-Share Contracts Contracts Purchased as Part of a Fee-Based Financial Plan
Prior to May 22, 2017 On and after May 22, 2017
i4LIFE (Reg. TM) Advantage Guaranteed Income
Benefit (versions 1, 2 and 3):5 Single/Joint Life Single/Joint Life Single/Joint Life
Enhanced Guaranteed Minimum Death
Benefit (EGMDB)
Guaranteed Maximum Charge................. 2.95% 2.80% N/A
Current Charge............................ 1.95% 1.80% N/A
Guarantee of Principal Death Benefit
Guaranteed Maximum Charge................. 2.70% 2.55% N/A
Current Charge............................ 1.70% 1.55% N/A
Account Value Death Benefit.................
Guaranteed Maximum Charge................. 2.65% 2.50% N/A
Current Charge............................ 1.65% 1.50% N/A

11
<PAGE>

2 As a percentage of daily assets in the Subaccounts. This charge is assessed
only on and after the effective date of i4LIFE (Reg. TM) Advantage. See
Charges and Other Deductions - i4LIFE (Reg. TM) Advantage Rider Charge for
further information. These charges continue during the Access Period. For
all contracts purchased prior to November 15, 2010 (prior to June 30 2010
for contracts purchased as part of a Fee-Based Financial Plan), the annual
charge rates are as follows: EGMDB 1.30%; Guarantee of Principal 1.15%;
Account Value 1.05%. The i4LIFE (Reg. TM) Advantage charge rate is reduced
to 1.15% during the Lifetime Income Period, or 1.00% for contracts purchased
as part of a Fee-Based Financial Plan prior to May 22, 2017 and 0.60% for
contracts purchased as part of Fee-Based Financial Plan on and after May 22,
2017.

3 As a percentage of daily assets in the Subaccounts. This charge is assessed
only on and after the effective date of the Guaranteed Income Benefit. The
current annual charge rate for the Guaranteed Income Benefit is 0.95% of
Account Value for the single life option and 1.15% of Account Value for the
joint life option with a guaranteed maximum charge rate of 2.25% (2.45%
joint life option). These charges are added to the i4LIFE (Reg. TM)
Advantage charges to comprise the total charges reflected. During the
Lifetime Income Period, the Guaranteed Income Benefit charge is added to the
i4LIFE (Reg. TM) Advantage charge rate of 1.15% (1.00% for contracts
purchased as part of a Fee-Based Financial Plan prior to May 22, 2017 and
0.60% for contracts purchased as part of a Fee-Based Financial Plan on and
after May 22, 2017). See Charges and Other Deductions - i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit Charge for more information.

4 As a percentage of daily assets in the Subaccounts. This charge is assessed
only on and after the effective date of the Guaranteed Income Benefit. The
current annual charge rate for the Guaranteed Income Benefit is 0.65% of
Account Value for the single life option and 0.85% of Account Value for the
joint life option with a guaranteed maximum charge rate of 2.00%. These
charges are added to the i4LIFE (Reg. TM) Advantage charges to comprise the
total charges reflected. During the Lifetime Income Period, the Guaranteed
Income Benefit charge rate is added to the i4LIFE (Reg. TM) Advantage charge
rate of 1.15%, or 1.00% for contracts purchased as part of a Fee-Based
Financial Plan prior to May 22, 2017 and 0.60% for contracts purchased as
part of a Fee-Based Financial Plan on and after May 22, 2017. See Charges
and Other Deductions - i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit
Charge for more information. These charges apply to i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit (Managed Risk) and i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit (version 4).

5 As a percentage of daily assets in the Subaccounts. This charge is assessed
only on and after the effective date of the Guaranteed Income Benefit. The
current annual charge rate for the Guaranteed Income Benefit is 0.50% of
Account Value with a guaranteed maximum charge rate of 1.50%. This charge is
added to the i4LIFE (Reg. TM) Advantage charges to comprise the total
charges reflected. During the Lifetime Income Period, the Guaranteed Income
Benefit charge rate is added to the i4LIFE (Reg. TM) Advantage charge rate
of 1.15% (1.00% for contracts purchased as part of a Fee-Based Financial
Plan). The charge rate may change to the current charge rate in effect at
the time you elect an additional step-up period, not to exceed the
guaranteed maximum charge rate. See Charges and Other Deductions - i4LIFE
(Reg. TM) Advantage Guaranteed Income Benefit Charge for more information.
Contractowners with contracts that were part of a Fee-Based Financial Plan
prior to June 30, 2010 will pay a higher charge based upon higher Mortality
and Expense Risk charges. See your contract for your specific charge.

TABLE C
Expenses for i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit (Managed
Risk) for Contractowners who Transition from Lincoln Lifetime IncomeSM
Advantage 2.0 (Managed Risk) or 4LATER (Reg. TM) Advantage (Managed Risk)1

A-Share Contracts Contracts Purchased as Part of a Fee-Based Financial
Plan
Prior to May 22, 2017 On and after May 22, 2017
Annual Account Fee:2.......................... $ 20 N/A $ 50
i4LIFE (Reg. TM) Advantage Guaranteed Income
Benefit (Managed Risk) for
Contractowners who transition from
Lincoln Lifetime IncomeSM Advantage
2.0 (Managed Risk) or 4LATER (Reg. TM)
Advantage (Managed Risk): Single/Joint Life Single/Joint Life Single/Joint Life
Separate Account Annual Expenses (as
a percentage of daily assets in the
Subaccounts):
Enhanced Guaranteed Minimum
Death Benefit (EGMDB)..................... 1.05% 0.90% 0.55%
Guarantee of Principal Death Benefit........ 0.80% 0.65% 0.30%
Account Value Death Benefit................. 0.75% 0.60% 0.20%

All Contracts
i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit (Managed Risk):3, 4 Single Life Joint Life
Guaranteed Maximum Annual Charge........................................ 2.00% 2.00%
Current Initial Annual Charge........................................... 1.05% 1.25%

1 These charges also apply to Lincoln Lifetime IncomeSM Advantage 2.0
purchasers who elect i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit
(version 4).

12
<PAGE>

2 During the accumulation phase, the account fee will be deducted from your
Contract Value on each contract anniversary, or upon surrender of the
contract. The account fee will be waived if your Contract Value is $50,000
or more on the contract anniversary (or date of surrender). This account fee
may be less in some states and will be waived after the fifteenth Contract
Year, regardless of your Contract Value unless your contract was purchased
as part of a Fee-Based Financial Plan on and after May 22, 2017. We do not
assess the account fee on contracts issued to Selling Group individuals, or
individuals who purchased the contract as part of a Fee-Based Financial Plan
prior to May 22, 2017.

3 As an annualized percentage of the greater of the Income Base (associated
with Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)) or Account
Value. This charge is deducted from Account Value on a quarterly basis and
only on and after the effective date of i4LIFE (Reg. TM) Advantage. In the
event of an automatic step-up in the Guaranteed Income Benefit, the dollar
amount of the charge will increase by a two part formula: 1) the charge will
increase by the same percentage that the Guaranteed Income Benefit payment
increases and 2) the dollar amount of the charge will also increase by the
percentage increase, if any, to the Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk) current charge rate. (The Lincoln Lifetime IncomeSM Advantage
2.0 (Managed Risk) charge continues to be a factor in determining the i4LIFE
(Reg. TM) Advantage Guaranteed Income Benefit (Managed Risk) charge.) See
Charges and Other Deductions - i4LIFE (Reg. TM) Advantage Guaranteed Income
Benefit Charge for Contractowners who transition from a Prior Rider for more
information.

4 As an annualized percentage of the greater of the Income Base (associated
with the 4LATER (Reg. TM) Advantage (Managed Risk)) or Account Value. This
charge is deducted from Account Value on a quarterly basis and only on and
after the effective date of i4LIFE (Reg. TM) Advantage. In the event of an
automatic step-up in the Guaranteed Income Benefit, the dollar amount of the
charge will increase by a two part formula: 1) the charge will increase by
the same percentage that the Guaranteed Income Benefit payment increases and
2) the dollar amount of the charge will also increase by the percentage
increase, if any, to the 4LATER (Reg. TM) Advantage (Managed Risk) current
charge rate. (The 4LATER (Reg. TM) Advantage (Managed Risk) charge continues
to be a factor in determining the i4LIFE (Reg. TM) Advantage with Guaranteed
Income Benefit charge.) See Charges and Other Deductions - i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit Charge for Contractowners who transition
from a Prior Rider for more information.

TABLE D
Expenses for i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit for
Contractowners who Transition from Lincoln Market Select (Reg. TM) Advantage or
4LATER (Reg. TM) Select Advantage

A-Share Contracts Contracts Purchased as Part of a Fee-Based Financial
Plan
Prior to May 22, 2017 On and after May 22, 2017
Annual Account Fee:1.............................. $ 20 N/A $ 50
i4LIFE (Reg. TM) Advantage Select Guaranteed
Income Benefit for Contractowners who
transition from Lincoln Market Select (Reg. TM)
Advantage or 4LATER (Reg. TM) Select Advantage: Single/Joint Life Single/Joint Life Single/Joint Life
Separate Account Annual Expenses (as
a percentage of daily assets in the
Subaccounts):
Enhanced Guaranteed Minimum
Death Benefit (EGMDB)......................... 1.05% 0.90% 0.55%
Guarantee of Principal Death Benefit........... 0.80% 0.65% 0.30%
Account Value Death Benefit.................... 0.75% 0.60% 0.20%

All Contracts
i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit for Contractowners who
transition from
Lincoln Market Select (Reg. TM) Advantage or 4LATER (Reg. TM) Select Advantage:2, 3 Single Life Joint Life
Guaranteed Maximum Annual Charge....................................................... 2.25% 2.45%
Current Initial Annual Charge.......................................................... 1.25% 1.50%

2 As an annualized percentage of the greater of the Income Base (associated
with Lincoln Market Select (Reg. TM) Advantage) or Account Value. This
charge is deducted from Account Value on a quarterly basis and only on and
after the effective date of i4LIFE (Reg. TM) Advantage. In the event of an
automatic step-up in the Guaranteed Income Benefit, the dollar amount of the
charge will increase by a two part formula: 1) the charge will increase by
the same percentage that the Guaranteed Income Benefit payment increases and
2) the dollar amount of the charge will also increase by the percentage
increase, if any, to the Lincoln Market Select (Reg. TM) Advantage current
charge rate. (The Lincoln Market Select (Reg. TM) Advantage charge continues
to be a factor in determining the i4LIFE (Reg. TM) Advantage Select
Guaranteed Income Benefit charge.) See Charges and Other Deductions - i4LIFE
(Reg. TM) Advantage Guaranteed Income Benefit for Contractowners who
transition from a Prior Rider for more information.

3 As an annualized percentage of the greater of the Income Base (associated
with 4LATER (Reg. TM) Select Advantage) or Account Value. This charge is
deducted from Account Value on a quarterly basis and only on and after the
effective date of i4LIFE (Reg. TM) Advantage. In the event of an automatic
step-up in the Guaranteed Income

13
<PAGE>

Benefit, the dollar amount of the charge will increase by a two part
formula: 1) the charge will increase by the same percentage that the
Guaranteed Income Benefit payment increases and 2) the dollar amount of the
charge will also increase by the percentage increase, if any, to the 4LATER
(Reg. TM) Select Advantage current charge rate. (The 4LATER (Reg. TM) Select
Advantage charge continues to be a factor in determining the i4LIFE (Reg.
TM) Advantage Select Guaranteed Income Benefit charge.) See Charges and
Other Deductions - i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit
Charge for Contractowners who transition from a Prior Rider for more
information.

TABLE E
Expenses for i4LIFE (Reg. TM) Advantage for Contractowners who Transition from
4LATER (Reg. TM) Advantage

Contracts Purchased
as Part of a Fee-Based
A-Share Contracts Financial Plan prior to May 22, 2017
Annual Account Fee:1................................................. $ 20 N/A
i4LIFE (Reg. TM) Advantage with 4LATER (Reg. TM) Advantage Guaranteed
Income Benefit for Contractowners who transition from
4LATER (Reg. TM) Advantage:2
Enhanced Guaranteed Minimum Death Benefit (EGMDB)
Guaranteed Maximum Charge.......................................... 2.95% 2.80%
Current Charge..................................................... 2.10% 1.95%
Guarantee of Principal Death Benefit
Guaranteed Maximum Charge.......................................... 2.70% 2.55%
Current Charge..................................................... 1.85% 1.70%
Account Value Death Benefit
Guaranteed Maximum Charge.......................................... 2.65% 2.50%
Current Charge..................................................... 1.80% 1.65%

1 During the accumulation phase, the account fee will be deducted from your
Contract Value on each contract anniversary, or upon surrender of the
contract. The account fee will be waived if your Contract Value is $50,000
or more on the contract anniversary (or date of surrender). This account fee
may be less in some states and will be waived after the fifteenth Contract
Year, regardless of your Contract Value. We do not assess the account fee on
contracts issued to Selling Group Individuals, to individuals who purchased
the contract as part of a Fee-Based Financial Plan prior to May 22, 2017, or
on contracts issued before August 15, 2003.

2 As a percentage of daily assets in the Subaccounts. This charge is assessed
only on and after the effective date of the Guaranteed Income Benefit. The
current annual charge rate for the Guaranteed Income Benefit is 0.65% of the
Account Value with a guaranteed maximum charge rate of 1.50%. This charge is
added to the i4LIFE (Reg. TM) Advantage charges to comprise the total
charges reflected. During the Lifetime Income Period, the Guaranteed Income
Benefit charge rate is added to the i4LIFE (Reg. TM) Advantage charge rate
of 1.15%, or 1.00% for contracts purchased as part of a Fee-Based Financial
Plan. The charge rate will change to the current charge rate in effect upon
election of a new step-up period, not to exceed the guaranteed maximum
charge rate. For riders purchased before January 20, 2009, the current
annual charge rate will increase from 0.50% to 0.65% upon the next election
to reset the Income Base. See Charges and Other Deductions - 4LATER (Reg.
TM) Advantage Guaranteed Income Benefit Charge for more information.

The next item shows the minimum and maximum total annual operating expenses
charged by the funds that you may pay
periodically during the time that you own the contract. The expenses are for
the year ended December 31, 2016. More detail concerning each fund's fees and
expenses is contained in the prospectus for each fund.

Minimum Maximum
--------- --------

Total Annual Fund Operating Expenses (expenses that are deducted from
fund assets, including management fees, distribution and/or service
(12b-1) fees, and other expenses)................................... 0.49% 2.25%
Total Annual Fund Operating Expenses (after contractual waivers/
reimbursements*).................................................... 0.49% 1.61%

* Some of the funds have entered into contractual waiver or reimbursement
arrangements that may reduce fund management and other fees and/or
expenses during the period of the arrangement. These arrangements vary in
length, but no arrangement will terminate before April 30, 2018.

The following table shows the expenses charged by each fund for the year ended
December 31, 2016:
(as a percentage of each fund's average net assets):

14
<PAGE>

Management 12b-1 Fees
Fees (before (before any
any waivers/ waivers/
reimburse- reimburse-
ments) + ments)

AB VPS Global Thematic Growth Portfolio - Class B 0.75% 0.25%
AB VPS Small/Mid Cap Value Portfolio - Class B 0.75% 0.25%
ALPS/Stadion Core ETF Portfolio - Class III(1) 0.50% 0.25%
American Century VP Balanced Fund - Class II(2) 0.90% 0.25%
American Century VP Large Company Value Fund - Class II(2) 0.80% 0.25%
American Funds Global Growth Fund - Class 2 0.53% 0.25%
American Funds Global Small Capitalization Fund - Class 2 0.70% 0.25%
American Funds Growth Fund - Class 2 0.33% 0.25%
American Funds Growth-Income Fund - Class 2 0.27% 0.25%
American Funds International Fund - Class 2 0.50% 0.25%
BlackRock Global Allocation V.I. Fund - Class III(3) 0.63% 0.25%
ClearBridge Variable Large Cap Growth Portfolio - Class II(4) 0.75% 0.25%
ClearBridge Variable Mid Cap Portfolio - Class II 0.75% 0.25%
Delaware VIP (Reg. TM) Diversified Income Series - Service Class(5) 0.58% 0.30%
Delaware VIP (Reg. TM) Emerging Markets Series - Service Class(6) 1.25% 0.30%
Delaware VIP (Reg. TM) High Yield Series - Service Class(7) 0.65% 0.30%
Delaware VIP (Reg. TM) Limited-Term Diversified Income Series - Service Class(8) 0.48% 0.30%
Delaware VIP (Reg. TM) REIT Series - Service Class(8) 0.75% 0.30%
Delaware VIP (Reg. TM) Small Cap Value Series - Service Class(8) 0.72% 0.30%
Delaware VIP (Reg. TM) Smid Cap Core Series - Service Class(9) 0.74% 0.30%
Delaware VIP (Reg. TM) U.S. Growth Series - Service Class(8) 0.65% 0.30%
Delaware VIP (Reg. TM) Value Series - Service Class (8) 0.63% 0.30%
Deutsche Alternative Asset Allocation VIP Portfolio - Class B(10) 0.33% 0.25%
Fidelity (Reg. TM) VIP Contrafund (Reg. TM) Portfolio - Service Class 2 0.55% 0.25%
Fidelity (Reg. TM) VIP FundsManager (Reg. TM) 50% Portfolio - Service Class 2(11) 0.25% 0.25%
Fidelity (Reg. TM) VIP Growth Portfolio - Service Class 2 0.55% 0.25%
Fidelity (Reg. TM) VIP Mid Cap Portfolio - Service Class 2 0.55% 0.25%
First Trust/Dow Jones Dividend & Income Allocation Portfolio - Class I(12) 0.60% 0.25%
Franklin Income VIP Fund - Class 2(13) 0.45% 0.25%
Franklin Income VIP Fund - Class 4(13) 0.45% 0.35%
Franklin Mutual Shares VIP Fund - Class 2 0.69% 0.25%
Franklin Mutual Shares VIP Fund - Class 4 0.69% 0.35%
Invesco V.I. Equally-Weighted S&P 500 Fund - Series II Shares 0.12% 0.25%
Invesco V.I. International Growth Fund - Series II Shares(14) 0.71% 0.25%
JPMorgan Insurance Trust Core Bond Portfolio - Class 2(15) 0.40% 0.25%
JPMorgan Insurance Trust Global Allocation Portfolio - Class 2(16) 0.60% 0.25%
LVIP American Century Select Mid Cap Managed Volatility Fund - Service
Class(17) 0.75% 0.35%
LVIP American Global Growth Fund - Service Class II(18) 0.53% 0.55%
LVIP American Global Small Capitalization - Service Class II(19) 0.70% 0.55%
LVIP American Growth Fund - Service Class II(20) 0.33% 0.55%
LVIP American Growth-Income Fund - Service Class II(21) 0.27% 0.55%
LVIP American International Fund - Service Class II(20) 0.50% 0.55%
LVIP Baron Growth Opportunities Fund - Service Class(22) 1.00% 0.25%

Other
Expenses
(before any Acquired
waivers/ Fund
reimburse- Fees and
+ ments) + Expenses =

AB VPS Global Thematic Growth Portfolio - Class B 0.31% 0.00%
AB VPS Small/Mid Cap Value Portfolio - Class B 0.08% 0.00%
ALPS/Stadion Core ETF Portfolio - Class III(1) 0.83% 0.18%
American Century VP Balanced Fund - Class II(2) 0.01% 0.00%
American Century VP Large Company Value Fund - Class II(2) 0.01% 0.00%
American Funds Global Growth Fund - Class 2 0.03% 0.00%
American Funds Global Small Capitalization Fund - Class 2 0.04% 0.00%
American Funds Growth Fund - Class 2 0.02% 0.00%
American Funds Growth-Income Fund - Class 2 0.02% 0.00%
American Funds International Fund - Class 2 0.04% 0.00%
BlackRock Global Allocation V.I. Fund - Class III(3) 0.24% 0.00%
ClearBridge Variable Large Cap Growth Portfolio - Class II(4) 0.14% 0.00%
ClearBridge Variable Mid Cap Portfolio - Class II 0.12% 0.00%
Delaware VIP (Reg. TM) Diversified Income Series - Service Class(5) 0.09% 0.00%
Delaware VIP (Reg. TM) Emerging Markets Series - Service Class(6) 0.15% 0.00%
Delaware VIP (Reg. TM) High Yield Series - Service Class(7) 0.10% 0.00%
Delaware VIP (Reg. TM) Limited-Term Diversified Income Series - Service Class(8) 0.07% 0.00%
Delaware VIP (Reg. TM) REIT Series - Service Class(8) 0.08% 0.00%
Delaware VIP (Reg. TM) Small Cap Value Series - Service Class(8) 0.07% 0.00%
Delaware VIP (Reg. TM) Smid Cap Core Series - Service Class(9) 0.08% 0.00%
Delaware VIP (Reg. TM) U.S. Growth Series - Service Class(8) 0.09% 0.00%
Delaware VIP (Reg. TM) Value Series - Service Class (8) 0.07% 0.00%
Deutsche Alternative Asset Allocation VIP Portfolio - Class B(10) 0.27% 1.08%
Fidelity (Reg. TM) VIP Contrafund (Reg. TM) Portfolio - Service Class 2 0.08% 0.00%
Fidelity (Reg. TM) VIP FundsManager (Reg. TM) 50% Portfolio - Service Class 2(11) 0.00% 0.51%
Fidelity (Reg. TM) VIP Growth Portfolio - Service Class 2 0.09% 0.00%
Fidelity (Reg. TM) VIP Mid Cap Portfolio - Service Class 2 0.08% 0.00%
First Trust/Dow Jones Dividend & Income Allocation Portfolio - Class I(12) 0.44% 0.00%
Franklin Income VIP Fund - Class 2(13) 0.02% 0.02%
Franklin Income VIP Fund - Class 4(13) 0.02% 0.02%
Franklin Mutual Shares VIP Fund - Class 2 0.03% 0.00%
Franklin Mutual Shares VIP Fund - Class 4 0.03% 0.00%
Invesco V.I. Equally-Weighted S&P 500 Fund - Series II Shares 0.27% 0.00%
Invesco V.I. International Growth Fund - Series II Shares(14) 0.21% 0.01%
JPMorgan Insurance Trust Core Bond Portfolio - Class 2(15) 0.24% 0.01%
JPMorgan Insurance Trust Global Allocation Portfolio - Class 2(16) 0.61% 0.26%
LVIP American Century Select Mid Cap Managed Volatility Fund - Service
Class(17) 0.10% 0.84%
LVIP American Global Growth Fund - Service Class II(18) 0.13% 0.00%
LVIP American Global Small Capitalization - Service Class II(19) 0.19% 0.00%
LVIP American Growth Fund - Service Class II(20) 0.11% 0.00%
LVIP American Growth-Income Fund - Service Class II(21) 0.09% 0.00%
LVIP American International Fund - Service Class II(20) 0.13% 0.00%
LVIP Baron Growth Opportunities Fund - Service Class(22) 0.08% 0.00%

Total
Total Total Expenses
Expenses Contractual (after
(before any waivers/ Contractual
waivers/ reimburse- waivers/
reimburse- ments reimburse-
ments) (if any) ments)

AB VPS Global Thematic Growth Portfolio - Class B 1.31% 0.00% 1.31%
AB VPS Small/Mid Cap Value Portfolio - Class B 1.08% 0.00% 1.08%
ALPS/Stadion Core ETF Portfolio - Class III(1) 1.76% -0.43% 1.33%
American Century VP Balanced Fund - Class II(2) 1.16% -0.09% 1.07%
American Century VP Large Company Value Fund - Class II(2) 1.06% -0.11% 0.95%
American Funds Global Growth Fund - Class 2 0.81% 0.00% 0.81%
American Funds Global Small Capitalization Fund - Class 2 0.99% 0.00% 0.99%
American Funds Growth Fund - Class 2 0.60% 0.00% 0.60%
American Funds Growth-Income Fund - Class 2 0.54% 0.00% 0.54%
American Funds International Fund - Class 2 0.79% 0.00% 0.79%
BlackRock Global Allocation V.I. Fund - Class III(3) 1.12% -0.13% 0.99%
ClearBridge Variable Large Cap Growth Portfolio - Class II(4) 1.14% -0.09% 1.05%
ClearBridge Variable Mid Cap Portfolio - Class II 1.12% 0.00% 1.12%
Delaware VIP (Reg. TM) Diversified Income Series - Service Class(5) 0.97% -0.05% 0.92%
Delaware VIP (Reg. TM) Emerging Markets Series - Service Class(6) 1.70% -0.09% 1.61%
Delaware VIP (Reg. TM) High Yield Series - Service Class(7) 1.05% -0.05% 1.00%
Delaware VIP (Reg. TM) Limited-Term Diversified Income Series - Service Class(8) 0.85% -0.05% 0.80%
Delaware VIP (Reg. TM) REIT Series - Service Class(8) 1.13% -0.05% 1.08%
Delaware VIP (Reg. TM) Small Cap Value Series - Service Class(8) 1.09% -0.05% 1.04%
Delaware VIP (Reg. TM) Smid Cap Core Series - Service Class(9) 1.12% -0.05% 1.07%
Delaware VIP (Reg. TM) U.S. Growth Series - Service Class(8) 1.04% -0.05% 0.99%
Delaware VIP (Reg. TM) Value Series - Service Class (8) 1.00% -0.05% 0.95%
Deutsche Alternative Asset Allocation VIP Portfolio - Class B(10) 1.93% -0.32% 1.61%
Fidelity (Reg. TM) VIP Contrafund (Reg. TM) Portfolio - Service Class 2 0.88% 0.00% 0.88%
Fidelity (Reg. TM) VIP FundsManager (Reg. TM) 50% Portfolio - Service Class 2(11) 1.01% -0.15% 0.86%
Fidelity (Reg. TM) VIP Growth Portfolio - Service Class 2 0.89% 0.00% 0.89%
Fidelity (Reg. TM) VIP Mid Cap Portfolio - Service Class 2 0.88% 0.00% 0.88%
First Trust/Dow Jones Dividend & Income Allocation Portfolio - Class I(12) 1.29% -0.09% 1.20%
Franklin Income VIP Fund - Class 2(13) 0.74% -0.03% 0.71%
Franklin Income VIP Fund - Class 4(13) 0.84% -0.03% 0.81%
Franklin Mutual Shares VIP Fund - Class 2 0.97% 0.00% 0.97%
Franklin Mutual Shares VIP Fund - Class 4 1.07% 0.00% 1.07%
Invesco V.I. Equally-Weighted S&P 500 Fund - Series II Shares 0.64% 0.00% 0.64%
Invesco V.I. International Growth Fund - Series II Shares(14) 1.18% -0.01% 1.17%
JPMorgan Insurance Trust Core Bond Portfolio - Class 2(15) 0.90% -0.05% 0.85%
JPMorgan Insurance Trust Global Allocation Portfolio - Class 2(16) 1.72% -0.43% 1.29%
LVIP American Century Select Mid Cap Managed Volatility Fund - Service
Class(17) 2.04% -0.79% 1.25%
LVIP American Global Growth Fund - Service Class II(18) 1.21% 0.00% 1.21%
LVIP American Global Small Capitalization - Service Class II(19) 1.44% -0.05% 1.39%
LVIP American Growth Fund - Service Class II(20) 0.99% 0.00% 0.99%
LVIP American Growth-Income Fund - Service Class II(21) 0.91% 0.00% 0.91%
LVIP American International Fund - Service Class II(20) 1.18% 0.00% 1.18%
LVIP Baron Growth Opportunities Fund - Service Class(22) 1.33% -0.12% 1.21%

15
<PAGE>

Management 12b-1 Fees
Fees (before (before any
any waivers/ waivers/
reimburse- reimburse-
ments) + ments)

LVIP BlackRock Dividend Value Managed Volatility Fund - Service Class(23) 0.72% 0.25%
LVIP BlackRock Global Allocation V.I. Managed Risk Fund - Service Class(24) 0.75% 0.35%
LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund - Service
Class(25) 0.25% 0.35%
LVIP BlackRock Inflation Protected Bond Fund - Service Class(26) 0.42% 0.25%
LVIP BlackRock Scientific Allocation Fund - Service Class(27) 0.75% 0.25%
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund - Service
Class(28) 0.25% 0.35%
LVIP Blended Core Equity Managed Volatility Fund - Service Class(29) 0.64% 0.35%
LVIP Blended Large Cap Growth Managed Volatility Fund - Service Class(30) 0.74% 0.25%
LVIP Blended Mid Cap Managed Volatility Fund - Service Class(31) 0.74% 0.25%
LVIP Clarion Global Real Estate Fund - Service Class(32) 0.69% 0.25%
LVIP ClearBridge Large Cap Managed Volatility Fund - Service Class(33) 0.69% 0.35%
LVIP Delaware Bond Fund - Service Class(32) 0.31% 0.35%
LVIP Delaware Diversified Floating Rate Fund - Service Class(34) 0.58% 0.25%
LVIP Delaware Social Awareness Fund - Service Class(32) 0.38% 0.35%
LVIP Delaware Special Opportunities Fund - Service Class(32) 0.39% 0.35%
LVIP Delaware Wealth Builder Fund - Service Class(35) 0.75% 0.25%
LVIP Dimensional International Core Equity Fund - Service Class(36) 0.75% 0.25%
LVIP Dimensional International Equity Managed Volatility Fund - Service
Class(37) 0.25% 0.25%
LVIP Dimensional U.S. Core Equity 1 Fund - Service Class(32) 0.35% 0.35%
LVIP Dimensional U.S. Core Equity 2 Fund - Service Class(38) 0.72% 0.25%
LVIP Dimensional U.S. Equity Managed Volatility Fund - Service Class(39) 0.25% 0.25%
LVIP Dimensional/Vanguard Total Bond Fund - Service Class(40) 0.25% 0.25%
LVIP Franklin Templeton Global Equity Managed Volatility Fund - Service
Class(26) 0.65% 0.25%
LVIP Franklin Templeton Multi-Asset Opportunities Fund - Service Class(41) 0.75% 0.25%
LVIP Franklin Templeton Value Managed Volatility Fund - Service Class(42) 0.65% 0.35%
LVIP Global Conservative Allocation Managed Risk Fund - Service Class(43) 0.25% 0.25%
LVIP Global Growth Allocation Managed Risk Fund - Service Class(26) 0.25% 0.25%
LVIP Global Income Fund - Service Class(44) 0.65% 0.25%
LVIP Global Moderate Allocation Managed Risk Fund - Service Class(26) 0.25% 0.25%
LVIP Goldman Sachs Income Builder Fund - Service Class(45) 0.65% 0.25%
LVIP Government Money Market Fund - Service Class(32) 0.38% 0.25%
LVIP Invesco Diversified Equity-Income Managed Volatility Fund - Service
Class(46) 0.60% 0.35%
LVIP Invesco Select Equity Managed Volatility Fund - Service Class(47) 0.65% 0.35%
LVIP JPMorgan High Yield Fund - Service Class(48) 0.63% 0.25%
LVIP JPMorgan Retirement Income Fund - Service Class(49) 0.75% 0.25%
LVIP JPMorgan Select Mid Cap Value Managed Volatility Fund - Service
Class(50) 0.71% 0.25%
LVIP Managed Risk Profile 2010 Fund - Service Class(51) 0.25% 0.25%
LVIP Managed Risk Profile 2020 Fund - Service Class(51) 0.25% 0.25%
LVIP Managed Risk Profile 2030 Fund - Service Class(52) 0.25% 0.25%

Other Total
Expenses Expenses
(before any Acquired (before any
waivers/ Fund waivers/
reimburse- Fees and reimburse-
+ ments) + Expenses = ments)

LVIP BlackRock Dividend Value Managed Volatility Fund - Service Class(23) 0.10% 0.01% 1.08%
LVIP BlackRock Global Allocation V.I. Managed Risk Fund - Service Class(24) 0.06% 0.72% 1.88%
LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund - Service
Class(25) 0.18% 0.13% 0.91%
LVIP BlackRock Inflation Protected Bond Fund - Service Class(26) 0.08% 0.01% 0.76%
LVIP BlackRock Scientific Allocation Fund - Service Class(27) 0.26% 0.00% 1.26%
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund - Service
Class(28) 0.16% 0.11% 0.87%
LVIP Blended Core Equity Managed Volatility Fund - Service Class(29) 0.10% 0.69% 1.78%
LVIP Blended Large Cap Growth Managed Volatility Fund - Service Class(30) 0.10% 0.01% 1.10%
LVIP Blended Mid Cap Managed Volatility Fund - Service Class(31) 0.12% 0.01% 1.12%
LVIP Clarion Global Real Estate Fund - Service Class(32) 0.09% 0.00% 1.03%
LVIP ClearBridge Large Cap Managed Volatility Fund - Service Class(33) 0.15% 0.73% 1.92%
LVIP Delaware Bond Fund - Service Class(32) 0.07% 0.00% 0.73%
LVIP Delaware Diversified Floating Rate Fund - Service Class(34) 0.08% 0.00% 0.91%
LVIP Delaware Social Awareness Fund - Service Class(32) 0.09% 0.00% 0.82%
LVIP Delaware Special Opportunities Fund - Service Class(32) 0.08% 0.00% 0.82%
LVIP Delaware Wealth Builder Fund - Service Class(35) 0.19% 0.00% 1.19%
LVIP Dimensional International Core Equity Fund - Service Class(36) 0.38% 0.00% 1.38%
LVIP Dimensional International Equity Managed Volatility Fund - Service
Class(37) 0.08% 0.52% 1.10%
LVIP Dimensional U.S. Core Equity 1 Fund - Service Class(32) 0.08% 0.00% 0.78%
LVIP Dimensional U.S. Core Equity 2 Fund - Service Class(38) 0.09% 0.00% 1.06%
LVIP Dimensional U.S. Equity Managed Volatility Fund - Service Class(39) 0.07% 0.31% 0.88%
LVIP Dimensional/Vanguard Total Bond Fund - Service Class(40) 0.06% 0.14% 0.70%
LVIP Franklin Templeton Global Equity Managed Volatility Fund - Service
Class(26) 0.10% 0.01% 1.01%
LVIP Franklin Templeton Multi-Asset Opportunities Fund - Service Class(41) 0.74% 0.51% 2.25%
LVIP Franklin Templeton Value Managed Volatility Fund - Service Class(42) 0.09% 0.58% 1.67%
LVIP Global Conservative Allocation Managed Risk Fund - Service Class(43) 0.05% 0.43% 0.98%
LVIP Global Growth Allocation Managed Risk Fund - Service Class(26) 0.05% 0.42% 0.97%
LVIP Global Income Fund - Service Class(44) 0.10% 0.01% 1.01%
LVIP Global Moderate Allocation Managed Risk Fund - Service Class(26) 0.05% 0.44% 0.99%
LVIP Goldman Sachs Income Builder Fund - Service Class(45) 0.72% 0.01% 1.63%
LVIP Government Money Market Fund - Service Class(32) 0.09% 0.00% 0.72%
LVIP Invesco Diversified Equity-Income Managed Volatility Fund - Service
Class(46) 0.10% 0.65% 1.70%
LVIP Invesco Select Equity Managed Volatility Fund - Service Class(47) 0.12% 0.48% 1.60%
LVIP JPMorgan High Yield Fund - Service Class(48) 0.08% 0.00% 0.96%
LVIP JPMorgan Retirement Income Fund - Service Class(49) 0.16% 0.27% 1.43%
LVIP JPMorgan Select Mid Cap Value Managed Volatility Fund - Service
Class(50) 0.09% 0.01% 1.06%
LVIP Managed Risk Profile 2010 Fund - Service Class(51) 0.21% 0.42% 1.13%
LVIP Managed Risk Profile 2020 Fund - Service Class(51) 0.10% 0.40% 1.00%
LVIP Managed Risk Profile 2030 Fund - Service Class(52) 0.10% 0.42% 1.02%

Total
Total Expenses
Contractual (after
waivers/ Contractual
reimburse- waivers/
ments reimburse-
(if any) ments)

LVIP BlackRock Dividend Value Managed Volatility Fund - Service Class(23) -0.12% 0.96%
LVIP BlackRock Global Allocation V.I. Managed Risk Fund - Service Class(24) -0.67% 1.21%
LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund - Service
Class(25) -0.06% 0.85%
LVIP BlackRock Inflation Protected Bond Fund - Service Class(26) 0.00% 0.76%
LVIP BlackRock Scientific Allocation Fund - Service Class(27) -0.28% 0.98%
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund - Service
Class(28) -0.04% 0.83%
LVIP Blended Core Equity Managed Volatility Fund - Service Class(29) -0.74% 1.04%
LVIP Blended Large Cap Growth Managed Volatility Fund - Service Class(30) -0.10% 1.00%
LVIP Blended Mid Cap Managed Volatility Fund - Service Class(31) -0.10% 1.02%
LVIP Clarion Global Real Estate Fund - Service Class(32) 0.00% 1.03%
LVIP ClearBridge Large Cap Managed Volatility Fund - Service Class(33) -0.74% 1.18%
LVIP Delaware Bond Fund - Service Class(32) 0.00% 0.73%
LVIP Delaware Diversified Floating Rate Fund - Service Class(34) -0.03% 0.88%
LVIP Delaware Social Awareness Fund - Service Class(32) 0.00% 0.82%
LVIP Delaware Special Opportunities Fund - Service Class(32) 0.00% 0.82%
LVIP Delaware Wealth Builder Fund - Service Class(35) -0.23% 0.96%
LVIP Dimensional International Core Equity Fund - Service Class(36) -0.45% 0.93%
LVIP Dimensional International Equity Managed Volatility Fund - Service
Class(37) -0.04% 1.06%
LVIP Dimensional U.S. Core Equity 1 Fund - Service Class(32) 0.00% 0.78%
LVIP Dimensional U.S. Core Equity 2 Fund - Service Class(38) -0.29% 0.77%
LVIP Dimensional U.S. Equity Managed Volatility Fund - Service Class(39) 0.00% 0.88%
LVIP Dimensional/Vanguard Total Bond Fund - Service Class(40) -0.05% 0.65%
LVIP Franklin Templeton Global Equity Managed Volatility Fund - Service
Class(26) 0.00% 1.01%
LVIP Franklin Templeton Multi-Asset Opportunities Fund - Service Class(41) -1.07% 1.18%
LVIP Franklin Templeton Value Managed Volatility Fund - Service Class(42) -0.69% 0.98%
LVIP Global Conservative Allocation Managed Risk Fund - Service Class(43) 0.00% 0.98%
LVIP Global Growth Allocation Managed Risk Fund - Service Class(26) 0.00% 0.97%
LVIP Global Income Fund - Service Class(44) -0.07% 0.94%
LVIP Global Moderate Allocation Managed Risk Fund - Service Class(26) 0.00% 0.99%
LVIP Goldman Sachs Income Builder Fund - Service Class(45) -0.62% 1.01%
LVIP Government Money Market Fund - Service Class(32) 0.00% 0.72%
LVIP Invesco Diversified Equity-Income Managed Volatility Fund - Service
Class(46) -0.63% 1.07%
LVIP Invesco Select Equity Managed Volatility Fund - Service Class(47) -0.63% 0.97%
LVIP JPMorgan High Yield Fund - Service Class(48) -0.03% 0.93%
LVIP JPMorgan Retirement Income Fund - Service Class(49) -0.46% 0.97%
LVIP JPMorgan Select Mid Cap Value Managed Volatility Fund - Service
Class(50) 0.00% 1.06%
LVIP Managed Risk Profile 2010 Fund - Service Class(51) -0.16% 0.97%
LVIP Managed Risk Profile 2020 Fund - Service Class(51) -0.05% 0.95%
LVIP Managed Risk Profile 2030 Fund - Service Class(52) -0.05% 0.97%

16
<PAGE>

Management 12b-1 Fees
Fees (before (before any
any waivers/ waivers/
reimburse- reimburse-
ments) + ments)

LVIP Managed Risk Profile 2040 Fund - Service Class(52) 0.25% 0.25%
LVIP MFS International Equity Managed Volatility Fund - Service Class(53) 0.85% 0.25%
LVIP MFS International Growth Fund - Service Class(54) 0.82% 0.25%
LVIP MFS Value Fund - Service Class(32) 0.61% 0.25%
LVIP Mondrian International Value Fund - Service Class(32) 0.68% 0.25%
LVIP Multi-Manager Global Equity Managed Volatility Fund - Service
Class(55) 0.25% 0.35%
LVIP PIMCO Low Duration Bond Fund - Service Class(56) 0.50% 0.25%
LVIP Select Core Equity Managed Volatility Fund - Service Class(57) 0.70% 0.35%
LVIP SSGA Bond Index Fund - Service Class(58) 0.40% 0.25%
LVIP SSGA Conservative Index Allocation Fund - Service Class(59) 0.25% 0.25%
LVIP SSGA Conservative Structured Allocation Fund - Service Class(60) 0.25% 0.25%
LVIP SSGA Developed International 150 Fund - Service Class(61) 0.33% 0.25%
LVIP SSGA Emerging Markets 100 Fund - Service Class(62) 0.34% 0.25%
LVIP SSGA Global Tactical Allocation Managed Volatility Fund - Service
Class(63) 0.40% 0.25%
LVIP SSGA International Index Fund - Service Class(64) 0.40% 0.25%
LVIP SSGA International Managed Volatility Fund - Service Class(65) 0.76% 0.25%
LVIP SSGA Large Cap 100 Fund - Service Class(66) 0.31% 0.25%
LVIP SSGA Large Cap Managed Volatility Fund - Service Class(67) 0.70% 0.25%
LVIP SSGA Mid-Cap Index Fund - Service Class(32) 0.27% 0.25%
LVIP SSGA Moderate Index Allocation Fund - Service Class(68) 0.25% 0.25%
LVIP SSGA Moderate Structured Allocation Fund - Service Class(69) 0.25% 0.25%
LVIP SSGA Moderately Aggressive Index Allocation Fund - Service Class(69) 0.25% 0.25%
LVIP SSGA Moderately Aggressive Structured Allocation Fund - Service
Class(68) 0.25% 0.25%
LVIP SSGA S&P 500 Index Fund - Service Class(32) 0.17% 0.25%
LVIP SSGA Small-Cap Index Fund - Service Class(32) 0.32% 0.25%
LVIP SSGA Small-Mid Cap 200 Fund - Service Class(70) 0.34% 0.25%
LVIP SSGA SMID Cap Managed Volatility Fund - Service Class(71) 0.90% 0.25%
LVIP T. Rowe Price Growth Stock Fund - Service Class(32) 0.65% 0.25%
LVIP T. Rowe Price Structured Mid-Cap Growth Fund - Service Class(32) 0.70% 0.25%
LVIP U.S. Growth Allocation Managed Risk Fund - Service Class(72) 0.70% 0.25%
LVIP Vanguard Domestic Equity ETF Fund - Service Class(73) 0.25% 0.25%
LVIP Vanguard International Equity ETF Fund - Service Class(74) 0.25% 0.25%
LVIP Wellington Capital Growth Fund - Service Class(32) 0.69% 0.25%
LVIP Wellington Mid-Cap Value Fund - Service Class(75) 0.86% 0.25%
LVIP Western Asset Core Bond Fund - Service Class(76) 0.45% 0.25%
MFS (Reg. TM) VIT Growth Series - Service Class 0.72% 0.25%
MFS (Reg. TM) VIT Total Return Series - Service Class(77) 0.67% 0.25%
MFS (Reg. TM) VIT Utilities Series - Service Class 0.73% 0.25%
PIMCO VIT CommodityRealReturn (Reg. TM) Strategy Portfolio - Advisor Class(78) 0.74% 0.25%
Putnam VT George Putnam Balanced Fund - Class IB 0.53% 0.25%
QS Variable Conservative Growth - Class II(79) 0.00% 0.25%

Other
Expenses
(before any Acquired
waivers/ Fund
reimburse- Fees and
+ ments) + Expenses =

LVIP Managed Risk Profile 2040 Fund - Service Class(52) 0.12% 0.43%
LVIP MFS International Equity Managed Volatility Fund - Service Class(53) 0.09% 0.75%
LVIP MFS International Growth Fund - Service Class(54) 0.09% 0.00%
LVIP MFS Value Fund - Service Class(32) 0.08% 0.00%
LVIP Mondrian International Value Fund - Service Class(32) 0.08% 0.00%
LVIP Multi-Manager Global Equity Managed Volatility Fund - Service
Class(55) 0.25% 0.50%
LVIP PIMCO Low Duration Bond Fund - Service Class(56) 0.16% 0.00%
LVIP Select Core Equity Managed Volatility Fund - Service Class(57) 0.08% 0.56%
LVIP SSGA Bond Index Fund - Service Class(58) 0.07% 0.00%
LVIP SSGA Conservative Index Allocation Fund - Service Class(59) 0.11% 0.29%
LVIP SSGA Conservative Structured Allocation Fund - Service Class(60) 0.08% 0.31%
LVIP SSGA Developed International 150 Fund - Service Class(61) 0.09% 0.00%
LVIP SSGA Emerging Markets 100 Fund - Service Class(62) 0.14% 0.00%
LVIP SSGA Global Tactical Allocation Managed Volatility Fund - Service
Class(63) 0.06% 0.27%
LVIP SSGA International Index Fund - Service Class(64) 0.12% 0.00%
LVIP SSGA International Managed Volatility Fund - Service Class(65) 0.10% 0.38%
LVIP SSGA Large Cap 100 Fund - Service Class(66) 0.07% 0.00%
LVIP SSGA Large Cap Managed Volatility Fund - Service Class(67) 0.09% 0.20%
LVIP SSGA Mid-Cap Index Fund - Service Class(32) 0.09% 0.00%
LVIP SSGA Moderate Index Allocation Fund - Service Class(68) 0.07% 0.29%
LVIP SSGA Moderate Structured Allocation Fund - Service Class(69) 0.06% 0.32%
LVIP SSGA Moderately Aggressive Index Allocation Fund - Service Class(69) 0.07% 0.29%
LVIP SSGA Moderately Aggressive Structured Allocation Fund - Service
Class(68) 0.06% 0.33%
LVIP SSGA S&P 500 Index Fund - Service Class(32) 0.07% 0.00%
LVIP SSGA Small-Cap Index Fund - Service Class(32) 0.08% 0.00%
LVIP SSGA Small-Mid Cap 200 Fund - Service Class(70) 0.10% 0.00%
LVIP SSGA SMID Cap Managed Volatility Fund - Service Class(71) 0.09% 0.34%
LVIP T. Rowe Price Growth Stock Fund - Service Class(32) 0.07% 0.00%
LVIP T. Rowe Price Structured Mid-Cap Growth Fund - Service Class(32) 0.08% 0.00%
LVIP U.S. Growth Allocation Managed Risk Fund - Service Class(72) 0.06% 0.52%
LVIP Vanguard Domestic Equity ETF Fund - Service Class(73) 0.07% 0.08%
LVIP Vanguard International Equity ETF Fund - Service Class(74) 0.09% 0.13%
LVIP Wellington Capital Growth Fund - Service Class(32) 0.09% 0.00%
LVIP Wellington Mid-Cap Value Fund - Service Class(75) 0.11% 0.00%
LVIP Western Asset Core Bond Fund - Service Class(76) 0.08% 0.02%
MFS (Reg. TM) VIT Growth Series - Service Class 0.04% 0.00%
MFS (Reg. TM) VIT Total Return Series - Service Class(77) 0.04% 0.00%
MFS (Reg. TM) VIT Utilities Series - Service Class 0.05% 0.00%
PIMCO VIT CommodityRealReturn (Reg. TM) Strategy Portfolio - Advisor Class(78) 0.29% 0.14%
Putnam VT George Putnam Balanced Fund - Class IB 0.21% 0.00%
QS Variable Conservative Growth - Class II(79) 0.13% 0.69%

Total
Total Total Expenses
Expenses Contractual (after
(before any waivers/ Contractual
waivers/ reimburse- waivers/
reimburse- ments reimburse-
ments) (if any) ments)

LVIP Managed Risk Profile 2040 Fund - Service Class(52) 1.05% -0.07% 0.98%
LVIP MFS International Equity Managed Volatility Fund - Service Class(53) 1.94% -0.74% 1.20%
LVIP MFS International Growth Fund - Service Class(54) 1.16% -0.10% 1.06%
LVIP MFS Value Fund - Service Class(32) 0.94% 0.00% 0.94%
LVIP Mondrian International Value Fund - Service Class(32) 1.01% 0.00% 1.01%
LVIP Multi-Manager Global Equity Managed Volatility Fund - Service
Class(55) 1.35% -0.15% 1.20%
LVIP PIMCO Low Duration Bond Fund - Service Class(56) 0.91% -0.03% 0.88%
LVIP Select Core Equity Managed Volatility Fund - Service Class(57) 1.69% -0.68% 1.01%
LVIP SSGA Bond Index Fund - Service Class(58) 0.72% -0.12% 0.60%
LVIP SSGA Conservative Index Allocation Fund - Service Class(59) 0.90% -0.16% 0.74%
LVIP SSGA Conservative Structured Allocation Fund - Service Class(60) 0.89% -0.10% 0.79%
LVIP SSGA Developed International 150 Fund - Service Class(61) 0.67% -0.01% 0.66%
LVIP SSGA Emerging Markets 100 Fund - Service Class(62) 0.73% -0.01% 0.72%
LVIP SSGA Global Tactical Allocation Managed Volatility Fund - Service
Class(63) 0.98% -0.10% 0.88%
LVIP SSGA International Index Fund - Service Class(64) 0.77% -0.11% 0.66%
LVIP SSGA International Managed Volatility Fund - Service Class(65) 1.49% -0.61% 0.88%
LVIP SSGA Large Cap 100 Fund - Service Class(66) 0.63% -0.01% 0.62%
LVIP SSGA Large Cap Managed Volatility Fund - Service Class(67) 1.24% -0.54% 0.70%
LVIP SSGA Mid-Cap Index Fund - Service Class(32) 0.61% 0.00% 0.61%
LVIP SSGA Moderate Index Allocation Fund - Service Class(68) 0.86% -0.10% 0.76%
LVIP SSGA Moderate Structured Allocation Fund - Service Class(69) 0.88% -0.10% 0.78%
LVIP SSGA Moderately Aggressive Index Allocation Fund - Service Class(69) 0.86% -0.10% 0.76%
LVIP SSGA Moderately Aggressive Structured Allocation Fund - Service
Class(68) 0.89% -0.10% 0.79%
LVIP SSGA S&P 500 Index Fund - Service Class(32) 0.49% 0.00% 0.49%
LVIP SSGA Small-Cap Index Fund - Service Class(32) 0.65% 0.00% 0.65%
LVIP SSGA Small-Mid Cap 200 Fund - Service Class(70) 0.69% -0.01% 0.68%
LVIP SSGA SMID Cap Managed Volatility Fund - Service Class(71) 1.58% -0.74% 0.84%
LVIP T. Rowe Price Growth Stock Fund - Service Class(32) 0.97% 0.00% 0.97%
LVIP T. Rowe Price Structured Mid-Cap Growth Fund - Service Class(32) 1.03% 0.00% 1.03%
LVIP U.S. Growth Allocation Managed Risk Fund - Service Class(72) 1.53% -0.45% 1.08%
LVIP Vanguard Domestic Equity ETF Fund - Service Class(73) 0.65% -0.05% 0.60%
LVIP Vanguard International Equity ETF Fund - Service Class(74) 0.72% -0.05% 0.67%
LVIP Wellington Capital Growth Fund - Service Class(32) 1.03% 0.00% 1.03%
LVIP Wellington Mid-Cap Value Fund - Service Class(75) 1.22% -0.07% 1.15%
LVIP Western Asset Core Bond Fund - Service Class(76) 0.80% 0.00% 0.80%
MFS (Reg. TM) VIT Growth Series - Service Class 1.01% 0.00% 1.01%
MFS (Reg. TM) VIT Total Return Series - Service Class(77) 0.96% -0.08% 0.88%
MFS (Reg. TM) VIT Utilities Series - Service Class 1.03% 0.00% 1.03%
PIMCO VIT CommodityRealReturn (Reg. TM) Strategy Portfolio - Advisor Class(78) 1.42% -0.14% 1.28%
Putnam VT George Putnam Balanced Fund - Class IB 0.99% 0.00% 0.99%
QS Variable Conservative Growth - Class II(79) 1.07% 0.00% 1.07%

17
<PAGE>

Other
Management 12b-1 Fees Expenses
Fees (before (before any (before any
any waivers/ waivers/ waivers/
reimburse- reimburse- reimburse-
ments) + ments) + ments) +

Templeton Global Bond VIP Fund - Class 2(80) 0.46% 0.25% 0.07%

Total
Total Total Expenses
Expenses Contractual (after
Acquired (before any waivers/ Contractual
Fund waivers/ reimburse- waivers/
Fees and reimburse- ments reimburse-
Expenses = ments) (if any) ments)

Templeton Global Bond VIP Fund - Class 2(80) 0.02% 0.80% -0.05% 0.75%

(1) The operating expenses in this fee table will not correlate to the
expense ratio in the Portfolio's financial statements (or the financial
highlights in its prospectus) because the financial statements include
only the direct operating expenses incurred by the Portfolio, not the
indirect costs of investing in the Underlying ETFs and other investment
companies. ALPS Advisors, Inc. (the "Adviser") and Stadion Money
Management, LLC (the "Sub-Adviser") have contractually agreed to jointly
waive its management fee and subadvisory fee, respectively, and/or
reimburse expenses so that Total Annual Fund Operating Expenses After Fee
Waiver/
Expense Reimbursements (not including distribution and/or service (12b-1)
fees, shareholder service fees, acquired fund fees and expenses, taxes,
brokerage commissions and extraordinary expenses) do not exceed a maximum of
0.65% of the Portfolio's Class I or Class III shares average daily net
assets through April 29, 2018. The Adviser and Sub-Adviser will be permitted
to recover, on a class-by-class basis, expenses each has borne through the
agreement described above to the extent that the Portfolio's expenses in
later periods fall below the annual rates set forth in the relevant
agreement. The Portfolio will not be obligated to pay any such fees and
expenses more than three years after the end of the fiscal year in which the
fee and expense was waived or reimbursed. This agreement may only be
terminated during the period by the Board of Trustees of ALPS Variable
Investment Trust.

(2) On August 1, 2016, the advisor agreed to waive percentage points
indicated of the funds' management fees, and prospectuses were
supplemented. At that time, the advisor expected these waivers to
continue until July 31, 2017. In January 2017, the advisor agreed to
extend the waivers until April 30, 2018 and cannot terminate them prior
to such date without the approval of the Board of Directors. The May 1,
2017 prospectuses will reference the new date.

(3) As described in the "Management of the Funds" section of the Fund's
prospectus, BlackRock Advisors, LLC has contractually agreed to waive
and/or reimburse fees or expenses in order to limit Total Annual Fund
Operating Expenses After Fee Waivers and/or Expense Reimbursements
(excluding Dividend Expense, Interest Expense, Acquired Fund Fees and
Expenses and certain other Fund expenses) to 1.50% (for Class III Shares)
of average daily net assets through April 30, 2018. BlackRock Advisors,
LLC has also contractually agreed to reimburse fees in order to limit
certain operational and recordkeeping fees to 0.07% (for Class III
Shares) of average daily net assets through April 30, 2018. Each of these
contractual agreements may be terminated upon 90 days' notice by a
majority of the non-interested directors of the Fund or by a vote of a
majority of the outstanding voting securities of the Fund.

(4) The manager has agreed to waive fees and/or reimburse operating expenses
(other than interest, brokerage, taxes, extraordinary expenses and
acquired fund fees and expenses) so that total annual operating expenses
are not expected to exceed this amount. This arrangement cannot be
terminated prior to December 31, 2018 without Board of Trustees' consent.

(5) Service Class shares are subject to a 12b-1 fee of 0.30% of average daily
net assets. The Series' distributor, Delaware Distributors, L.P.
(Distributor), has contracted to limit the 12b-1 fees to no more than
0.25% of average daily net assets from May 1, 2017 through May 1, 2018.
These waivers and reimbursements may be terminated only by agreement of
the Distributor and the Series.

(6) The Series' investment manager, Delaware Management Company (Manager),
has contractually agreed to waive all or a portion of its investment
advisory fees and/or pay/reimburse expenses (excluding any 12b-1 fees,
acquired fund fees and expenses, taxes, interest, short sale and dividend
interest expenses, brokerage fees, certain insurance costs, and
nonroutine expenses or costs, including, but not limited to, those
relating to reorganizations, litigation, conducting shareholder meetings,
and liquidations) in order to prevent total annual series operating
expenses from exceeding, in an aggregate amount, 1.36% of the Series'
average daily net assets from May 1, 2017 through May 1, 2018. These fee
waivers and expense reimbursements apply only to expenses paid directly
by the Series. The waivers and reimbursements may only be terminated by
agreement of the Manager and the Series. Service Class shares are subject
to a 12b-1 fee of 0.30% of average daily net assets. The Series'
distributor, Delaware Distributors, L.P. (Distributor), has contracted to
limit the 12b-1 fees to no more than 0.25% of average daily net assets
from May 1, 2017 through May 1, 2018. These waivers and reimbursements
may be terminated only by agreement of the Distributor and the Series.

(7) The Series' investment manager, Delaware Management Company (Manager),
has contractually agreed to waive all or a portion of its investment
advisory fees and/or pay/reimburse expenses (excluding any 12b-1 fees,
acquired fund fees and expenses, taxes, interest, short sale and dividend
interest expenses, brokerage fees, certain insurance costs, and
nonroutine expenses or costs, including, but not limited to, those
relating to reorganizations, litigation, conducting shareholder meetings,
and liquidations) in order to prevent total annual series operating
expenses from exceeding, in an aggregate amount, 0.75% of the Series'
average daily net assets from May 1, 2017 through May 1, 2018. These fee
waivers and expense reimbursements apply only to expenses paid directly
by the Series. The waivers and reimbursements may only be terminated by
agreement of the Manager and the Series. Service Class shares are subject
to a 12b-1 fee of 0.30% of average daily net assets. The Series'
distributor, Delaware Distributors, L.P. (Distributor), has contracted to
limit the 12b-1 fees to no more than 0.25% of average daily net assets
from May 1, 2017 through May 1, 2018. These waivers and reimbursements
may be terminated only by agreement of the Distributor and the Series.

(8) Service Class shares are subject to a 12b-1 fee of 0.30% of average daily
net assets. The Series' distributor, Delaware Distributors, L.P.
(Distributor), has contracted to limit the 12b-1 fees to no more than
0.25% of average daily net assets from May 1, 2017 through May 1, 2018.
These waivers and reimbursements may be terminated only by agreement of
the Distributor and the Series.

(9) Service Class shares are subject to a 12b-1 fee of 0.30% of average daily
net assets. The Series' distributor, Delaware Distributors, L.P.
(Distributor), has contracted to limit the 12b-1 fees to no more than
0.25% of average daily net assets from May 1, 2017 through May 1, 2018
or, if longer, until the Series is offered under new participation
agreements or under new contracts with existing companies (other than the
update and modification of existing contracts in the normal course of
business that may require registration or re-registration under state
insurance laws as a new insurance contract, provided the new insurance
contract effectively replaces the current insurance contract). These
waivers and reimbursements may be terminated only by agreement of the
Distributor and the Series.

(10) Through April 30, 2018, the Advisor has contractually agreed to waive all
or a portion of its management fee and reimburse or pay certain operating
expenses of the portfolio to the extent necessary to maintain the
portfolio's total annual operating expenses at ratios no higher than
0.53% for Class B shares, excluding certain expenses such as
extraordinary expenses, taxes, brokerage, interest expense and acquired
funds (underlying funds) fees and expenses (estimated at 1.08%). The
agreement may be terminated with the consent of the fund's Board.

(11) FMRC has contractually agreed to waive 0.05% of the fund's management
fee. This arrangement will remain in effect through April 30, 2018. In
addition, FMR has contractually agreed to reimburse 0.10% of class-level
expenses for Service Class 2. This arrangement will remain in effect for
at least one year from the effective date of the prospectus, and will
remain in effect thereafter as long as Service Class 2 continue to be
sold to unaffiliated insurance companies.

(12) The Fund's Investment advisor has agreed to waive fees and/or pay the
Fund's expenses to the extent necessary to prevent the operating expenses of
the Class I

18
<PAGE>

shares and Class II shares (excluding interest expense, brokerage
commissions and other trading expenses, taxes and extraordinary expenses)
from exceeding 1.20% and 0.95%, respectively, of the Fund's average daily
assets per year at least until May 1, 2018. Expenses borne by the Fund's
investment advisor are subject to reimbursement by the Fund up to three
years from the date of the fee or expense was incurred, but no reimbursement
payment will be made by the Fund at any time if it would result in the Class
I share or Class II share expenses (excluding interest expense, brokerage
commissions and other trading expenses, taxes and extraordinary expenses)
exceeding 1.20% and 0.95%, respectively, of the Fund's average daily net
assets per year. The agreement may be terminated by the Trust on behalf of
the Fund at any time and by the Fund's investment advisor only after May 1,
2018 upon 60 days' written notice.

(13) The investment manager has contractually agreed in advance to reduce its
fees as a result of the fund's investment in a Franklin Templeton money
market fund (the "acquired fund") for the next twelve month period.

(14) Invesco has contractually agreed to waive a portion of the Fund's
management fee in an amount equal to the net management fee that Invesco
earns on the Fund's investments in certain affiliated funds, which will
have the effect of reducing Acquired Fund Fees and Expenses. Unless
Invesco continues the fee waiver agreement, it will terminate on June 30,
2018. During its term, the fee waiver agreement cannot be terminated or
amended to reduce the advisory fee waiver without approval of the Board
of Trustees.

(15) The Portfolio's adviser and/or its affiliates have contractually agreed
to waive fees and/or reimburse expenses to the extent Total Annual Fund
Operating Expenses of Class 2 Shares (excluding Acquired Fund Fees and
Expenses other than certain money market fund fees as described below,
dividend and interest expenses related to short sales, interest, taxes,
expenses related to litigation and potential litigation, and
extraordinary expenses) exceed 0.85% of the average daily net assets. The
Portfolio may invest in one or more money market funds advised by the
Adviser or its affiliates (affiliated money market funds). The Fund's
adviser and/or administrator have contractually agreed to waive fees
and/or reimburse expenses in an amount sufficient to offset the
respective net fees each collects from the affiliated money market funds
on the Portfolio's investment in such money market funds. These waivers
are in effect through 4/30/2018, at which time the adviser and/or its
affiliates will determine whether to renew or revise them.

(16) The Portfolio's adviser and/or its affiliates have contractually agreed
to waive fees and/or reimburse expenses to the extent Total Annual Fund
Operating Expenses of Class 2 Shares (excluding Acquired Fund Fees and
Expenses other than certain money market fund fees as described below,
dividend and interest expenses related to short sales, interest, taxes,
expenses related to litigation and potential litigation, and
extraordinary expenses) exceed 1.03% of the average daily net assets. The
Portfolio may invest in one or more money market funds advised by the
Adviser or its affiliates (affiliated money market funds). The Fund's
adviser and/or administrator have contractually agreed to waive fees
and/or reimburse expenses in an amount sufficient to offset the
respective net fees each collects from the affiliated money market funds
on the Portfolio's investment in such money market funds. These waivers
are in effect through 4/30/2018, at which time the adviser and/or its
affiliates will determine whether to renew or revise them.

(17) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.69% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.06% of the
Fund's average daily net assets for the Standard Class (and 0.41% for the
Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. Other expenses
were restated to reflect the current fee structure of the fund. AFFE is
based on estimated amounts for the current fiscal year. The Fee Waiver
and Expense Reimbursement were restated to reflect the current fee waiver
and expense limitation of the fund.

(18) Other expenses were restated to reflect the current fee structure of the
fund. The amounts set forth under "Management Fee" and "Other Expenses"
reflect the aggregate expenses of the Fund and the Master Fund. The Total
Annual Fund Operating Expenses do not correlate to the ratio of expenses
to the average net assets appearing in the Financial Highlights table
which reflects only the operating expenses of the Fund and does not
include the fees of the Master Fund.

(19) Other expenses were restated to reflect the current fee structure of the
fund. The amounts set forth under "Management Fee" and "Other Expenses"
reflect the aggregate expenses of the Fund and the Master Fund. The Total
Annual Fund Operating Expenses do not correlate to the ratio of expenses
to the average net assets appearing in the Financial Highlights table
which reflects only the operating expenses of the Fund and does not
include the fees of the Master Fund. Lincoln Investment Advisors
Corporation (the "adviser") has contractually agreed to reimburse the
Fund to the extent that the Other Expenses of the Fund exceed 0.10% of
the average daily net assets of the Service Class II of the Fund. The
agreement will continue at least through April 30, 2018 and cannot be
terminated before that date without the mutual agreement of the Fund's
board of trustees and the adviser. The Expense Reimbursement was restated
to reflect the current expense limitation of the fund.

(20) The amounts set forth under "Management Fee" and "Other Expenses" reflect
the aggregate expenses of the Fund and the Master Fund. The Total Annual
Fund Operating Expenses do not correlate to the ratio of expenses to the
average net assets appearing in the Financial Highlights table which
reflects only the operating expenses of the Fund and does not include the
fees of the Master Fund. Other expenses were restated to reflect the
current fee structure of the fund.

(21) Other expenses were restated to reflect the current fee structure of the
fund. The amounts set forth under "Management Fee" and "Other Expenses"
reflect the aggregate expenses of the Fund and the Master Fund. The Total
Annual Fund Operating Expenses do not correlate to the ratio of expenses
to the average net assets appearing in the Financial Highlights table
which reflects only the operating expenses of the Fund and does not
include the fees of the Master Fund.

(22) Other expenses were restated to reflect the current fee structure of the
fund. The Fee Waiver was restated to reflect the current fee waiver of
the Fund. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.06% on the first $250 million of the Fund's average daily net assets;
0.11% on the next $250 million of the Fund's average daily net assets;
0.16% on the next $200 million of the Fund's average daily net assets;
0.17% on the next $50 million of the Fund's average daily net assets; and
0.22% in excess of $750 million of the Fund's average daily net assets.
The adviser has also contractually agreed to reimburse the Fund to the
extent that the Total Annual Fund Operating Expenses (excluding AFFE)
exceed 0.96% of the Fund's average daily net assets for the Standard
Class (and 1.21% for the Service Class). Both agreements will continue at
least through April 30, 2018 and cannot be terminated before that date
without the mutual agreement of the Fund's board of trustees and the
adviser.

(23) Other expenses were restated to reflect the current fee structure of the
fund. The Total Annual Fund Operating Expenses do not correlate to the
ratio of expenses to the average net assets appearing in the Financial
Highlights table which reflects only the operating expenses of the Fund
and does not include AFFE. Lincoln Investment Advisors Corporation (the
"adviser") has contractually agreed to waive the following portion of its
advisory fee: 0.11% on the first $750 million of the Fund's average daily
net assets; and 0.15% of the Fund's average daily net assets in excess of
$750 million. The agreement will continue at least through April 30, 2018
and cannot be terminated before that date without the mutual agreement of
the Fund's board of trustees and the adviser.

(24) Lincoln Investment Advisors Corporation (the "adviser") has contractually
agreed to waive the following portion of its advisory fee: 0.67% of the
Fund's average daily net assets. The agreement will continue at least
through April 30, 2018 and cannot be terminated before that date without
the mutual agreement of the Fund's board of trustees and the adviser. The
Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Other expenses were restated to reflect the current fee
structure of the fund. The Fee Waiver was restated to reflect the current
fee waiver of the Fund.

19
<PAGE>

(25) Other expenses were restated to reflect the current fee structure of the
fund. Annualized. Lincoln Investment Advisors Corporation (the "adviser")
has contractually agreed to reimburse the Fund to the extent that the
Total Annual Fund Operating Expenses (excluding AFFE) exceed 0.37% of the
Fund's average daily net assets for the Standard Class (and 0.72% for the
Service Class). The agreement will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. The Expense
Reimbursement was restated to reflect the current expense reimbursement
of the Fund. The Total Annual Fund Operating Expenses do not correlate to
the ratio of expenses to the average net assets appearing in the
Financial Highlights table which reflects only the operating expenses of
the Fund and does not include AFFE.

(26) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Other expenses were restated to reflect the current fee
structure of the fund.

(27) Other expenses were restated to reflect the current fee structure of the
fund. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.10% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.73% of the
Fund's average daily net assets for the Standard Class (and 0.98% for the
Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. The Expense
Reimbursement was restated to reflect the current expense limitation of
the fund.

(28) Other expenses were restated to reflect the current fee structure of the
fund. The Total Annual Fund Operating Expenses do not correlate to the
ratio of expenses to the average net assets appearing in the Financial
Highlights table which reflects only the operating expenses of the Fund
and does not include AFFE. Annualized. Lincoln Investment Advisors
Corporation (the "adviser") has contractually agreed to reimburse the
Fund to the extent that the Total Annual Fund Operating Expenses
(excluding AFFE) exceed 0.37% of the Fund's average daily net assets for
the Standard Class (and 0.72% for the Service Class). The agreement will
continue at least through April 30, 2018 and cannot be terminated before
that date without the mutual agreement of the Fund's board of trustees
and the adviser. The Expense Reimbursement was restated to reflect the
current expense reimbursement of the Fund.

(29) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.64% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.00% of the
Fund's average daily net assets for the Standard Class (and 0.35% for the
Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. Other expenses
were restated to reflect the current fee structure of the fund. The Fee
Waiver and Expense Reimbursement were restated to reflect the current fee
waiver and expense limitation of the fund.

(30) Lincoln Investment Advisors Corporation (the "adviser") has contractually
agreed to waive the following portion of its advisory fee: 0.14% on the
first $100 million of the Fund's average daily net assets; 0.09% on the
next $400 million of the Fund's daily net assets; 0.085% on the next $1.5
billion of the Fund's daily net assets; and 0.08% of the Fund's average
daily net assets in excess of $2 billion. The agreement will continue at
least through April 30, 2018 and cannot be terminated before that date
without the mutual agreement of the Fund's board of trustees and the
adviser. The Total Annual Fund Operating Expenses do not correlate to the
ratio of expenses to the average net assets appearing in the Financial
Highlights table which reflects only the operating expenses of the Fund
and does not include AFFE. Other expenses were restated to reflect the
current fee structure of the fund. The Fee Waiver was restated to reflect
the current fee waiver of the Fund.

(31) Lincoln Investment Advisors Corporation (the "adviser") has contractually
agreed to waive the following portion of its advisory fee: 0.12% on the
first $25 million of the Fund's average daily net assets; 0.07% on the
next $50 million of the Fund's average daily net assets; 0.02% on the
next $225 million of the Fund's average daily net assets; 0.04% on the
next $300 million of the Fund's average daily net assets; and 0.07% on
the next $200 million of the Fund's average daily net assets. This
agreement will continue at least through April 30, 2018 and cannot be
terminated before that date without the mutual agreement of the Fund's
board of trustees and the adviser. The adviser has also contractually
agreed to reimburse the Fund to the extent that the Total Net Annual Fund
Operating Expenses exceed 0.77% of the Fund's average daily net assets
for the Standard Class (and 1.02% for the Service Class). This agreement
will continue at least through December 9, 2018 and cannot be terminated
before that date without the mutual agreement of the Fund's board of
trustees and the adviser. Other expenses were restated to reflect the
current fee structure of the fund. The Fee Waiver and Expense
Reimbursement were restated to reflect the current fee waiver and expense
limitation of the fund. The Total Annual Fund Operating Expenses do not
correlate to the ratio of expenses to the average net assets appearing in
the Financial Highlights table which reflects only the operating expenses
of the Fund and does not include AFFE.

(32) Other expenses were restated to reflect the current fee structure of the
fund.

(33) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.66% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.10% of the Funds
average daily net assets for the Standard Class (and 0.45% for Service
Class). Both agreements will continue at least through April 30, 2018 and
cannot be terminated before that date without the mutual agreement of the
Fund's board of trustees and the adviser. Other expenses were restated to
reflect the current fee structure of the fund. The Expense Reimbursement
was restated to reflect the current expense reimbursement of the Fund.

(34) Other expenses were restated to reflect the current fee structure of the
fund. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.03% on the first $2 billion of the Fund's average daily net assets; and
0.05% of the Fund's average daily net assets in excess of $2 billion. The
agreement will continue at least through April 30, 2018 and cannot be
terminated before that date without the mutual agreement of the Fund's
board of trustees and the adviser.

(35) Other expenses were restated to reflect the current fee structure of the
fund. The Fee Waiver and Expense Reimbursement were restated to reflect
the current fee waiver and expense limitation of the fund. Lincoln
Investment Advisors Corporation (the "adviser") has contractually agreed
to waive the following portion of its advisory fee: 0.12% of the Fund's
average daily net assets. The adviser has also contractually agreed to
reimburse the Fund to the extent that the Total Annual Fund Operating
Expenses (excluding AFFE) exceed 0.71% of the Fund's average daily net
assets for the Standard Class (and 0.96% for the Service Class). Both
agreements will continue at least through April 30, 2018 and cannot be
terminated before that date without the mutual agreement of the Fund's
board of trustees and the adviser.

(36) Lincoln Investment Advisors Corporation (the "adviser") has contractually
agreed to waive the following portion of its advisory fee: 0.17% of the
Fund's average daily net assets. The adviser has also contractually
agreed to reimburse the Fund to the extent that the Total Annual Fund
Operating Expenses (excluding AFFE) exceed 0.68% of the Funds average
daily net assets for the Standard Class (and 0.93% for Service Class).
Both agreements will continue at least through April 30, 2018 and cannot
be terminated before that date without the mutual agreement of the Fund's
board of trustees and the adviser. Other expenses were restated to
reflect the current fee structure of the fund. The Fee Waiver and Expense
Reimbursement were restated to reflect the current fee waiver and expense
limitation of the fund.

20
<PAGE>

(37) AFFE is based on estimated amounts for the current fiscal year. The Total
Annual Fund Operating Expenses do not correlate to the ratio of expenses
to the average net assets appearing in the Financial Highlights table
which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.04% of the Fund's average daily net assets. The agreement will continue
at least through April 30, 2018 and cannot be terminated before that date
without the mutual agreement of the Fund's board of trustees and the
adviser. Other expenses were restated to reflect the current fee
structure of the fund. The Fee Waiver was restated to reflect the current
fee waiver of the Fund.

(38) Lincoln Investment Advisors Corporation (the "adviser") has contractually
agreed to waive the following portion of its advisory fee: 0.29% of the
Fund's average daily net assets. The agreement will continue at least
through April 30, 2018 and cannot be terminated before that date without
the mutual agreement of the Fund's board of trustees and the adviser.
Other expenses were restated to reflect the current fee structure of the
fund.

(39) AFFE is based on estimated amounts for the current fiscal year. The Total
Annual Fund Operating Expenses do not correlate to the ratio of expenses
to the average net assets appearing in the Financial Highlights table
which reflects only the operating expenses of the Fund and does not
include AFFE. Other expenses were restated to reflect the current fee
structure of the fund.

(40) Other expenses were restated to reflect the current fee structure of the
fund. The Total Annual Fund Operating Expenses do not correlate to the
ratio of expenses to the average net assets appearing in the Financial
Highlights table which reflects only the operating expenses of the Fund
and does not include AFFE. Lincoln Investment Advisors Corporation (the
"adviser") has contractually agreed to waive the following portion of its
advisory fee: 0.05% of the Fund's average daily net assets. The agreement
will continue at least through April 30, 2018 and cannot be terminated
before that date without the mutual agreement of the Fund's board of
trustees and the adviser.

(41) Lincoln Investment Advisors Corporation (the "adviser") has contractually
agreed to waive the following portion of its advisory fee: 0.43% of the
Fund's average daily net assets. The adviser has also contractually
agreed to reimburse the Fund to the extent that the Total Annual Fund
Operating Expenses (excluding AFFE) exceed 0.42% of the Fund's average
daily net assets for the Standard Class (and 0.67% for the Service
Class). Both agreements will continue at least through April 30, 2018 and
cannot be terminated before that date without the mutual agreement of the
Fund's board of trustees and the adviser. The Total Annual Fund Operating
Expenses do not correlate to the ratio of expenses to the average net
assets appearing in the Financial Highlights table which reflects only
the operating expenses of the Fund and does not include AFFE. Other
expenses were restated to reflect the current fee structure of the fund.
AFFE is based on estimated amounts for the current fiscal year. The Fee
Waiver and Expense Reimbursement were restated to reflect the current fee
waiver and expense limitation of the fund.

(42) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.62% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.05% of the
Fund's average daily net assets for the Standard Class (and 0.40% for the
Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. Other expenses
were restated to reflect the current fee structure of the fund. AFFE is
based on estimated amounts for the current fiscal year. The Fee Waiver
and Expense Reimbursement were restated to reflect the current fee waiver
and expense limitation of the fund.

(43) Other expenses were restated to reflect the current fee structure of the
fund. The Total Annual Fund Operating Expenses do not correlate to the
ratio of expenses to the average net assets appearing in the Financial
Highlights table which reflects only the operating expenses of the Fund
and does not include AFFE.

(44) Lincoln Investment Advisors Corporation (the "adviser") has contractually
agreed to waive the following portion of its advisory fee: 0.07% of the
Fund's average daily net assets. The agreement will continue at least
through April 30, 2018 and cannot be terminated before that date without
the mutual agreement of the Fund's board of trustees and the adviser.
Other expenses were restated to reflect the current fee structure of the
fund. The Total Annual Fund Operating Expenses do not correlate to the
ratio of expenses to the average net assets appearing in the Financial
Highlights table which reflects only the operating expenses of the Fund
and does not include AFFE.

(45) Lincoln Investment Advisors Corporation (the "adviser") has contractually
agreed to reimburse the Fund to the extent that the Total Annual Fund
Operating Expenses (excluding AFFE) exceed 0.75% of the Fund's average
daily net assets for the Standard Class (and 1.00% for the Service
Class). The agreement will continue at least through April 30, 2018 and
cannot be terminated before that date without the mutual agreement of the
Fund's board of trustees and the adviser. Other expenses were restated to
reflect the current fee structure of the fund. The Total Annual Fund
Operating Expenses do not correlate to the ratio of expenses to the
average net assets appearing in the Financial Highlights table which
reflects only the operating expenses of the Fund and does not include
AFFE. The Expense Reimbursement was restated to reflect the current
expense reimbursement of the Fund.

(46) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.55% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.07% of the
Fund's average daily net assets for the Standard Class (and 0.42% for the
Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. Other expenses
were restated to reflect the current fee structure of the fund. The
Expense Reimbursement was restated to reflect the current expense
limitation of the fund.

(47) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.51% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.14% of the
Fund's average daily net assets for the Standard Class (and 0.49% for the
Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. The Fee Waiver
and Expense Reimbursement were restated to reflect the current fee waiver
and expense limitation of the fund. Other expenses were restated to
reflect the current fee structure of the fund. AFFE is based on estimated
amounts for the current fiscal year.

(48) Lincoln Investment Advisors Corporation (the "adviser") has contractually
agreed to waive the following portion of its advisory fee: 0.05% of the
Fund's average daily net assets in excess of $250 million. The agreement
will continue at least through April 30, 2018 and cannot be terminated
before that date without the mutual agreement of the Fund's board of
trustees and the adviser. Other expenses were restated to reflect the
current fee structure of the fund.

(49) Other expenses were restated to reflect the current fee structure of the
fund. AFFE is based on estimated amounts for the current fiscal year. The
Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.38% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent

21
<PAGE>

that the Total Annual Fund Operating Expenses (excluding AFFE) exceed 0.45%
of the Fund's average daily net assets for the Standard Class (and 0.70% for
the Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual agreement
of the Fund's board of trustees and the adviser. The Fee Waiver and Expense
Reimbursement were restated to reflect the current fee waiver and expense
limitation of the fund.

(50) Other expenses were restated to reflect the current fee structure of the
fund. The Total Annual Fund Operating Expenses do not correlate to the
ratio of expenses to the average net assets appearing in the Financial
Highlights table which reflects only the operating expenses of the Fund
and does not include AFFE.

(51) The Expense Reimbursement was restated to reflect the current expense
limitation of the fund. Other expenses were restated to reflect the
current fee structure of the fund. The Total Annual Fund Operating
Expenses do not correlate to the ratio of expenses to the average net
assets appearing in the Financial Highlights table which reflects only
the operating expenses of the Fund and does not include AFFE. Lincoln
Investment Advisors Corporation (the "adviser") has contractually agreed
to reimburse the Fund to the extent that the Total Annual Fund Operating
Expenses (excluding AFFE) exceed 0.30% of the Fund's average daily net
assets for the Standard Class (and 0.55% for the Service Class). The
agreement will continue at least through April 30, 2018 and cannot be
terminated before that date without the mutual agreement of the Fund's
board of trustees and the adviser.

(52) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.30% of the
Fund's average daily net assets for the Standard Class (and 0.55% for the
Service Class). The agreement will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. The Expense
Reimbursement was restated to reflect the current expense limitation of
the fund. Other expenses were restated to reflect the current fee
structure of the fund.

(53) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.65% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.20% of the
Fund's average daily net assets for the Standard Class (and 0.45% for the
Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. The Fee Waiver
and Expense Reimbursement were restated to reflect the current fee waiver
and expense limitation of the fund. Other expenses were restated to
reflect the current fee structure of the fund.

(54) Other expenses were restated to reflect the current fee structure of the
fund. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.11% on the first $400 million of the Fund's average daily net assets;
and 0.10% of the Fund's average daily net assets in excess of $400
million. The agreement will continue at least through April 30, 2018 and
cannot be terminated before that date without the mutual agreement of the
Fund's board of trustees and the adviser.

(55) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.35% of the
Fund's average daily net assets for the Standard Class (and 0.70% for the
Service Class). The agreement will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. Other expenses
were restated to reflect the current fee structure of the fund. The
Expense Reimbursement was restated to reflect the current expense
reimbursement of the Fund.

(56) Other expenses were restated to reflect the current fee structure of the
fund. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.05% of the Fund's average daily net assets in excess of $500 million.
The adviser has also contractually agreed to reimburse the Fund to the
extent that the Total Annual Fund Operating Expenses (excluding AFFE and
Interest Expense) exceed 0.54% of the Fund's average daily net assets for
the Standard Class (and 0.79% for the Service Class). Both agreements
will continue at least through April 30, 2018 and cannot be terminated
before that date without the mutual agreement of the Fund's board of
trustees and the adviser.

(57) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.62% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.10% of the
Fund's average daily net assets for the Standard Class (and 0.45% for the
Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. AFFE is based
on estimated amounts for the current fiscal year. Other expenses were
restated to reflect the current fee structure of the fund. The Fee Waiver
and Expense Reimbursement were restated to reflect the current fee waiver
and expense limitation of the fund.

(58) Other expenses were restated to reflect the current fee structure of the
fund. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.08% of the first $500 million of the Fund's average daily net assets;
0.122% on the next $1.5 billion of the Fund's average daily net assets
and 0.152% of the Fund's average daily net assets in excess of $2
billion. The agreement will continue at least through April 30, 2018 and
cannot be terminated before that date without the mutual agreement of the
Fund's board of trustees and the adviser.

(59) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.10% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.20% of the
Fund's average daily net assets for the Standard Class (and 0.45% for the
Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. The Expense
Reimbursement was restated to reflect the current expense limitation of
the fund. Other expenses were restated to reflect the current fee
structure of the fund.

(60) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.10% of the Fund's average daily net assets. The agreement will continue
at least through April 30, 2018 and cannot be terminated before that date
without the mutual agreement of the Fund's board of trustees and the
adviser. Other expenses were restated to reflect the current fee
structure of the fund.

(61) Lincoln Investment Advisors Corporation (the "adviser") has contractually
agreed to waive the following portion of its advisory fee: 0.07% of the
first $50 million of the Fund's average daily net assets and 0.01% on
next $450 million of the Fund's average daily net assets. The agreement
will continue at least through April

22
<PAGE>

30, 2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. Other expenses
were restated to reflect the current fee structure of the fund.

(62) Lincoln Investment Advisors Corporation (the "adviser") has contractually
agreed to waive the following portion of its advisory fee: 0.065% of the
first $50 million of the Fund's average daily net assets and 0.025% on
next $50 million of the Fund's average daily net assets and 0.005% on
next $400 million of the Fund's average daily net assets The agreement
will continue at least through April 30, 2018 and cannot be terminated
before that date without the mutual agreement of the Fund's board of
trustees and the adviser. Other expenses were restated to reflect the
current fee structure of the fund.

(63) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Other expenses were restated to reflect the current fee
structure of the fund. Lincoln Investment Advisors Corporation (the
"adviser") has contractually agreed to waive the following portion of its
advisory fee: 0.10% of the Fund's average daily net assets. The agreement
will continue at least through April 30, 2018 and cannot be terminated
before that date without the mutual agreement of the Fund's board of
trustees and the adviser.

(64) Lincoln Investment Advisors Corporation (the "adviser") has contractually
agreed to waive the following portion of its advisory fee: 0.052% on the
first $1 billion of the Fund's average daily net assets; and 0.10% of the
Fund's average daily net assets in excess of $1 billion. The adviser has
also contractually agreed to reimburse the Fund to the extent that the
Total Annual Fund Operating Expenses (excluding AFFE) exceed 0.41% of the
Fund's average daily net assets for the Standard Class (and 0.66% for the
Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. Other expenses
were restated to reflect the current fee structure of the fund.

(65) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.53% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.25% of the
Fund's average daily net assets for the Standard Class (and 0.50% for the
Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. Other expenses
were restated to reflect the current fee structure of the fund. The
Expense Reimbursement was restated to reflect the current expense
limitation of the fund.

(66) Other expenses were restated to reflect the current fee structure of the
fund. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.08% of the first $50 million of the Fund's average daily net assets and
0.015% on next $450 million of the Fund's average daily net assets. The
agreement will continue at least through April 30, 2018 and cannot be
terminated before that date without the mutual agreement of the Fund's
board of trustees and the adviser.

(67) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.47% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.25% of the
Fund's average daily net assets for the Standard Class (and 0.50% for the
Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. Other expenses
were restated to reflect the current fee structure of the fund. The Fee
Waiver and Expense Reimbursement were restated to reflect the current fee
waiver and expense limitation of the fund.

(68) Other expenses were restated to reflect the current fee structure of the
fund. The Total Annual Fund Operating Expenses do not correlate to the
ratio of expenses to the average net assets appearing in the Financial
Highlights table which reflects only the operating expenses of the Fund
and does not include AFFE. Lincoln Investment Advisors Corporation (the
"adviser") has contractually agreed to waive the following portion of its
advisory fee: 0.10% of the Fund's average daily net assets. The agreement
will continue at least through April 30, 2018 and cannot be terminated
before that date without the mutual agreement of the Fund's board of
trustees and the adviser.

(69) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.10% of the Fund's average daily net assets. The agreement will continue
at least through April 30, 2018 and cannot be terminated before that date
without the mutual agreement of the Fund's board of trustees and the
adviser. Other expenses were restated to reflect the current fee
structure of the fund.

(70) Other expenses were restated to reflect the current fee structure of the
fund. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.065% of the first $50 million of the Fund's average daily net assets.
The agreement will continue at least through April 30, 2018 and cannot be
terminated before that date without the mutual agreement of the Fund's
board of trustees and the adviser.

(71) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.67% of the Fund's average daily net assets. The adviser has also
contractually agreed to reimburse the Fund to the extent that the Total
Annual Fund Operating Expenses (excluding AFFE) exceed 0.25% of the
Fund's average daily net assets for the Standard Class (and 0.50% for the
Service Class). Both agreements will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. Other expenses
were restated to reflect the current fee structure of the fund. The Fee
Waiver and Expense Reimbursement were restated to reflect the current fee
waiver and expense limitation of the fund. AFFE is based on estimated
amounts for the current fiscal year.

(72) Other expenses were restated to reflect the current fee structure of the
fund. The Total Annual Fund Operating Expenses do not correlate to the
ratio of expenses to the average net assets appearing in the Financial
Highlights table which reflects only the operating expenses of the Fund
and does not include AFFE. Lincoln Investment Advisors Corporation (the
"adviser") has contractually agreed to waive the following portion of its
advisory fee: 0.45% of the Fund's average daily net assets. The agreement
will continue at least through April 30, 2018 and cannot be terminated
before that date without the mutual agreement of the Fund's board of
trustees and the adviser.

(73) The Total Annual Fund Operating Expenses do not correlate to the ratio of
expenses to the average net assets appearing in the Financial Highlights
table which reflects only the operating expenses of the Fund and does not
include AFFE. Lincoln Investment Advisors Corporation (the "adviser") has
contractually agreed to waive the following portion of its advisory fee:
0.05% of the Fund's average daily net assets. The agreement will continue
at least through April 30, 2018 and cannot be terminated before that date
without the mutual agreement of the Fund's board of trustees and the
adviser. Other expenses were restated to reflect the current fee
structure of the fund.

(74) Other expenses were restated to reflect the current fee structure of the
fund. The Total Annual Fund Operating Expenses do not correlate to the
ratio of expenses to the average net assets appearing in the Financial
Highlights table which reflects only the operating expenses of the Fund
and does not include AFFE. Lincoln

23
<PAGE>

Investment Advisors Corporation (the "adviser") has contractually agreed to
waive the following portion of its advisory fee: 0.05% of the Fund's average
daily net assets. The agreement will continue at least through April 30,
2018 and cannot be terminated before that date without the mutual agreement
of the Fund's board of trustees and the adviser.

(75) Lincoln Investment Advisors Corporation (the "adviser") has contractually
agreed to waive the following portion of its advisory fee: 0.09% of the
first $100 million of the Fund's average daily net assets. The adviser
has also contractually agreed to reimburse the Fund to the extent that
the Total Annual Fund Operating Expenses (excluding AFFE) exceed 0.90% of
the Fund's average daily net assets for the Standard Class (and 1.15% for
the Service Class). Both agreements will continue at least through April
30, 2018 and cannot be terminated before that date without the mutual
agreement of the Fund's board of trustees and the adviser. Other expenses
were restated to reflect the current fee structure of the fund. The Fee
Waiver was restated to reflect the current fee waiver of the Fund.

(76) Other expenses were restated to reflect the current fee structure of the
fund. Annualized. The Total Annual Fund Operating Expenses do not
correlate to the ratio of expenses to the average net assets appearing in
the Financial Highlights table which reflects only the operating expenses
of the Fund and does not include AFFE.

(77) MFS has agreed in writing to bear the fund's expenses, excluding
interest, taxes, extraordinary expenses, brokerage and transaction costs,
and investment-related expenses (such as interest and borrowing expenses
incurred in connection with the fund's investment activity), such that
"Total Annual Fund Operating Expenses" do not exceed 0.88% of the fund's
average daily net assets annually for Initial Class shares. This written
agreement will continue until modified by the fund's Board of Trustees,
but such agreement will continue until at least April 30, 2018.

(78) PIMCO has contractually agreed to waive the Portfolio's advisory fee and
the supervisory and administrative fee in an amount equal to the
management fee and administrative services fee, respectively, paid by the
PIMCO Cayman Commodity Portfolio I Ltd. (the "CRRS Subsidiary") to PIMCO.
The CRRS Subsidiary pays PIMCO a management fee and an administrative
services fee at the annual rates of 0.49% and 0.20%, respectively, of its
net assets. This waiver may not be terminated by PIMCO and will remain in
effect for as long as PIMCO's contract with the CRRS Subsidiary is in
place.

(79) Total annual fund operating expenses do not correlate with the ratios of
expenses to average net assets reported in the financial highlights in
the fund's Prospectus and in the fund's shareholder report because the
ratios in the financial highlights reflect the fund's operating expenses
and do not include acquired fund fees and expenses.

(80) The investment manager has contractually agreed in advance to reduce its
fee as a result of the fund's investment in a Franklin Templeton money
market fund (the "acquired fund") for the next 12 month period.

Certain underlying funds have reserved the right to impose fees when fund
shares are redeemed within a specified period of time of purchase ("redemption
fees") which are not reflected in the table above. As of the date of this
prospectus, none have done so. See The Contracts - Market Timing for a
discussion of redemption fees.

For information concerning compensation paid for the sale of the contracts, see
Distribution of the Contracts.

EXAMPLES

The following Examples are intended to help you compare the cost of investing
in the contract with the cost of investing in other variable annuity contracts.
These costs include Contractowner transaction expenses, contract fees, separate
account annual expenses, and fund fees and expenses. The Examples have been
calculated using the fees and expenses of the funds prior to the application of
any contractual waivers and/or reimbursements.

The first Example assumes that you invest $10,000 in the contract for the time
periods indicated. The Example also assumes that your investment has a 5%
return each year, the maximum fees and expenses of any of the funds and that
the EEB Death Benefit and Lincoln Lifetime IncomeSM Advantage 2.0 (Managed
Risk) at the guaranteed maximum charge are in effect. Although your actual
costs may be higher or lower, based on these assumptions, your costs would be:

1) If you surrender your contract at the end of the applicable time period:

1 year 3 years 5 years 10 years
-------- --------- --------- ---------

$XX $XX $XX $XX

2) If you annuitize or do not surrender your contract at the end of the
applicable time period:

1 year 3 years 5 years 10 years
-------- --------- --------- ---------

$XX $XX $XX $XX

The next Example assumes you have purchased the Lincoln Long-Term CareSM
Advantage rider and have elected either the Growth Benefit option or the Level
Benefit option. The Example also assumes that you are age 69 (Growth Benefit
option) or age 74 (Level Benefit option) and invest $10,000 in the contract for
the time periods indicated. The Example assumes a 5% return each year, the
maximum fees and expenses of any of the funds, election of the Optional
Nonforfeiture provision, and that the EGMDB Death Benefit is in effect.
Although your actual costs may be higher or lower, based on these assumptions,
your costs would be:

1) If you surrender your contract at the end of the applicable time period:

1 year 3 years 5 years 10 years
-------- --------- --------- ---------

Growth Benefit Option...... $XX $XX $XX $XX
Level Benefit Option....... $XX $XX $XX $XX

24
<PAGE>

2) If you annuitize or do not surrender your contract at the end of the
applicable time period:

1 year 3 years 5 years 10 years
-------- --------- --------- ---------

Growth Benefit Option...... $XX $XX $XX $XX
Level Benefit Option....... $XX $XX $XX $XX

For more information, see Charges and Other Deductions in this prospectus, and
the prospectuses for the funds. Premium taxes may also apply, although they do
not appear in the examples. Different fees and expenses not reflected in the
examples may be imposed during a period in which Annuity Payouts are made. See
Annuity Payouts. These examples should not be considered a representation of
past or future expenses. Actual expenses may be more or less than those shown.

Summary of Common Questions
What kind of contract am I buying? It is an individual variable and/or interest
adjusted, if applicable, annuity contract between you and Lincoln Life. This
prospectus primarily describes the variable side of the contract.

Your contract may be issued as part of a Fee-Based Financial Plan. A Fee-Based
Financial Plan may be a wrap account, managed account or other investment
program whereby an investment firm/professional offers asset allocation and/or
investment advice for a fee. We waive sales charges and charge lower mortality
and expense risk charges on contracts issued as part of a Fee-Based Financial
Plan.

This contract and certain riders, benefits, service features and enhancements
may not be available in all states, and the charges may vary in certain states.
All material state variations are discussed in this prospectus, however,
non-material variations may not be discussed. You should refer to your contract
regarding state-specific features. Please check with your registered
representative regarding availability.

What is the Variable Annuity Account (VAA)? It is a separate account we
established under Indiana insurance law, and registered with the SEC as a unit
investment trust. VAA assets are allocated to one or more Subaccounts,
according to your investment choices. VAA assets are not chargeable with
liabilities arising out of any other business which we may conduct. See
Variable Annuity Account.

What are Asset Allocation Models? Asset allocation models are designed to
assist you and your registered representative in deciding how to allocate your
Purchase Payments among the various Subaccounts. Each model provides a
diversified investment portfolio by combining different asset classes to help
it reach its stated investment goal. See The Contracts - Asset Allocation
Models.

What are Investment Requirements? If you elect a Living Benefit Rider (except
i4LIFE (Reg. TM) Advantage without Guaranteed Income Benefit), you will be
subject to certain requirements for your Subaccount investments, which means
you may be limited in how much you can invest in certain Subaccounts. Different
Investment Requirements apply to different riders. See The Contracts -
Investment Requirements.

What are my investment choices? You may allocate your Purchase Payments to the
VAA or to the fixed account, if available. Based upon your instruction for
Purchase Payments, the VAA applies your Net Purchase Payments to one or more of
the Subaccounts, which, in turn, invest in a corresponding underlying fund.
Each fund holds a portfolio of securities consistent with its investment
policy. See Investments of the Variable Annuity Account - Description of the
Funds.

Who invests my money? Several different investment advisers manage the
investment options. See Investments of the Variable Annuity Account -
Description of the Funds.

How does the contract work? If we approve your application, we will send you a
contract. When you make Net Purchase Payments during the accumulation phase,
you buy Accumulation Units on the variable side of the contract and accumulate
additional Contract Value through any investments in the fixed account, if
available. If you decide to receive an Annuity Payout, your Accumulation Units
are converted to Annuity Units. Your Annuity Payouts will be based on the
number of Annuity Units you receive and the value of each Annuity Unit on
payout days. See The Contracts.

What charges do I pay under the contract? We apply a charge to the daily net
asset value of the VAA that consists of a mortality and expense risk charge
based on the Death Benefit you select. There is an administrative charge in
addition to the mortality and expense risk charge. The charges for any riders
applicable to your contract will also be deducted from your Contract Value or
Account Value if i4LIFE (Reg. TM) Advantage is elected. See Charges and Other
Deductions.

A front-end load is determined based on the Gross Purchase Payment as it is
received. The amount of the sales charge on any current Gross Purchase Payment
may be reduced based on the assets accumulated under the terms of the contract.
The sales charge ranges from 5.50% to 1.00% (5.75% to 1.00% for contracts
purchased prior to February 8, 2010). The sales charge will be waived for
contracts purchased as part of a Fee-Based Financial Plan.

We will deduct any applicable premium tax from Gross Purchase Payments or
Contract Value, unless the governmental entity dictates otherwise, at the time
the tax is incurred or at another time we choose.

25
<PAGE>

See Expense Tables and Charges and Other Deductions for information regarding
additional fees and expenses that may be incurred.

The funds' investment management fees, expenses and expense limitations, if
applicable, are more fully described in the prospectuses for the funds.

The surrender, withdrawal or transfer of value before the end of the applicable
Guaranteed Period associated with any investments in the fixed account may be
subject to the Interest Adjustment, if applicable. See Fixed Side of the
Contract.

Charges may also be imposed during the regular income or Annuity Payout period,
including i4LIFE (Reg. TM) Advantage if elected. See The Contracts and Annuity
Payouts.

For more information about the compensation we pay for sales of the contracts,
see The Contracts - Distribution of the Contracts.

What Gross Purchase Payments do I make, and how often? Your Gross Purchase
Payments are completely flexible, subject to minimum and maximum Purchase
Payment amounts. For more information, see The Contracts - Purchase Payments.

Am I limited in the amount of Purchase Payments I can make into the contract?
Yes, Purchase Payments totaling $2 million or more are subject to Home Office
approval. This amount takes into consideration the total Purchase Payments for
all variable annuity contracts issued by the Company (or its affiliates)
(excluding Lincoln Investor Advantage (Reg. TM) contracts) for the same
Contractowner, joint owner, and/or Annuitant. Upon providing advance written
notice, we reserve the right to further limit, restrict, or suspend Purchase
Payments made to the contract.

If you elect a Living Benefit Rider (other than any version of i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit or Lincoln Long-Term CareSM Advantage),
after the first anniversary of the rider effective date, once cumulative
additional Purchase Payments exceed $100,000, additional Purchase Payments will
be limited to $50,000 per Benefit Year. State variations may apply. Please
check with your registered representative. If you elect any version of i4LIFE
(Reg. TM) Advantage Guaranteed Income Benefit, no additional Purchase Payments
will be allowed at any time after the Periodic Income Commencement Date. If you
elect i4LIFE (Reg. TM) Advantage without Guaranteed Income Benefit, no
additional Purchase Payments will be allowed after the Periodic Income
Commencement Date for nonqualified contracts. If you elect the Lincoln
Long-Term CareSM Advantage rider, no additional Purchase Payments can be made
after 90 days from the contract date. For more information about these
restrictions and limitations, see The Contracts - Purchase Payments.

How will my Annuity Payouts be calculated? If you decide to annuitize, you may
select an annuity option and start receiving Annuity Payouts from your contract
as a fixed option or variable option or a combination of both. See Annuity
Payouts - Annuity Options. Remember that participants in the VAA benefit from
any gain, and take a risk of any loss, in the value of the securities in the
funds' portfolios, which would decrease the amount applied to any payout option
and the related payments.

What happens if I die before I annuitize? The Death Benefit may be paid upon
the death of either the Contractowner or the Annuitant. Upon the death of the
Contractowner, your Beneficiary will receive Death Benefit proceeds based upon
the Death Benefit you select. Your Beneficiary has options as to how the Death
Benefit is paid. In the alternative, upon the death of the Annuitant the
Contractowner may choose to receive a Death Benefit. See The Contracts - Death
Benefit.

What are the Death Benefit options currently available under my Contract? The
Enhanced Guaranteed Minimum Death Benefit (EGMDB) provides a Death Benefit that
is equal to the greatest of: 1) the current Contract Value, 2) the sum of all
Purchase Payments (as adjusted for withdrawals), or 3) the highest Contract
Value on any contract anniversary prior to the 81st birthday of the deceased,
and prior to the death of the person for whom a death claim is approved for
payment. The Guarantee of Principal Death Benefit provides a Death Benefit that
is equal to the greater of the current Contract Value or the sum of all
Purchase Payments (as adjusted for withdrawals). The Account Value Death
Benefit provides a Death Benefit that is equal to the Contract Value as of the
Valuation Date we approve the payment of the death claim. See The Contracts -
Death Benefits for a complete description of each Death Benefit option.

What happens if I die on or after the Annuity Commencement Date? Once you reach
the Annuity Commencement Date, any applicable Death Benefit will terminate.

May I transfer Contract Value between variable options and between the variable
and fixed sides of the contract? Yes, subject to certain restrictions.
Generally, transfers made before the Annuity Commencement Date are restricted
to no more than 12 per Contract Year. The minimum amount that can be
transferred to the fixed account is $2,000 (unless the total amount in the
Subaccounts is less than $2,000). If transferring funds from the fixed account
to a Subaccount, you may only transfer up to 25% of the total value invested in
the fixed account in any 12-month period. The minimum amount that may be
transferred is $300. Transfers from the fixed account may be subject to an
Interest Adjustment. If permitted by your contract, we may discontinue
accepting transfers into the fixed side of the contract at any time. See The
Contracts - Transfers On or Before the Annuity Commencement Date and Transfers
After the Annuity Commencement Date. For further information, see also the
Fixed Side of the Contract and Guaranteed Periods.

What are Living Benefit Riders? Living Benefit Riders are optional riders
available to purchase for an additional fee. These riders provide different
types of minimum guarantees if you meet certain conditions. These riders offer
either a minimum withdrawal benefit (Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk), Lincoln Market Select (Reg. TM) Advantage, Lincoln Max 6
SelectSM Advantage,

26
<PAGE>

Lincoln Lifetime IncomeSM Advantage 2.0, Lincoln Lifetime IncomeSM Advantage
and Lincoln SmartSecurity (Reg. TM) Advantage) or a minimum Annuity Payout
(4LATER (Reg. TM) Select Advantage, 4LATER (Reg. TM) Advantage (Managed Risk),
4LATER (Reg. TM) Advantage and i4LIFE (Reg. TM) Advantage with or without the
Guaranteed Income Benefit). In addition, the Lincoln Long-Term CareSM Advantage
(a qualified long-term care benefit rider) may be available under your
contract. If you select a Living Benefit Rider, you will be subject to
Investment Requirements (unless you elect i4LIFE (Reg. TM) Advantage without
Guaranteed Income Benefit). Excess Withdrawals may have adverse effects on the
benefit (especially during times of poor investment performance), as they may
result in a reduction or premature termination of those benefits or of those
riders. If you are not certain how an Excess Withdrawal will reduce your future
guaranteed amounts, you should contact either your registered representative or
us prior to requesting a withdrawal to find out what, if any, impact the Excess
Withdrawal will have on any guarantees under the Living Benefit Rider. Any
guarantees under the contract that exceed your Contract Value are subject to
our financial strength and claims-paying ability. We reserve the right to
discontinue offering any of the Living Benefit Riders at any time. This means
that there is a chance that you may not be able to elect these Living Benefit
Riders in the future (unless you are guaranteed the right to elect i4LIFE (Reg.
TM) Advantage under the terms of your contract or i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit under the terms of another Living Benefit Rider). In
addition, we may make different versions of the Living Benefit Riders
available.

Which Living Benefit Riders are currently available? The riders that are
currently available are: Lincoln Lifetime IncomeSM Advantage 2.0 (Managed
Risk), Lincoln Market Select (Reg. TM) Advantage, Lincoln Max 6 SelectSM
Advantage, 4LATER (Reg. TM) Select Advantage, i4LIFE (Reg. TM) Advantage Select
Guaranteed Income Benefit, i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit
(Managed Risk), i4LIFE (Reg. TM) Advantage (without Guaranteed Income Benefit)
and Lincoln Long-Term CareSM Advantage. Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk) is available for election only at the time the contract is
purchased, unless your contract was issued prior to August 26, 2013. Lincoln
Market Select (Reg. TM) Advantage is available to new Contractowners and to
current Contractowners who wish to terminate their Lincoln Lifetime IncomeSM
Advantage 2.0 (Managed Risk) rider. Lincoln Max 6 SelectSM Advantage is
available for election only at the time the contract is purchased. 4LATER (Reg.
TM) Select Advantage is available to new Contractowners and to current
Contractowners who wish to terminate their 4LATER (Reg. TM) Advantage (Managed
Risk) rider. Lincoln Long-Term CareSM Advantage is available for election only
at the time the contract is purchased. The following Living Benefit Riders are
no longer available for purchase: Lincoln Lifetime IncomeSM Advantage, Lincoln
Lifetime IncomeSM Advantage 2.0, Lincoln SmartSecurity (Reg. TM) Advantage,
4LATER (Reg. TM) Advantage (Managed Risk) and 4LATER (Reg. TM) Advantage. Prior
versions of i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit are
unavailable unless otherwise guaranteed under a rider you have purchased.

What is Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)? Lincoln
Lifetime IncomeSM Advantage 2.0 (Managed Risk) is an optional rider that you
may purchase which provides annual guaranteed lifetime periodic withdrawals up
to a guaranteed amount based on an Income Base, a 5% Enhancement to the Income
Base (less Purchase Payments received in the preceding Benefit Year) or an
Automatic Annual Step-up to the Income Base, and age-based increases to the
guaranteed periodic withdrawal amount, subject to certain conditions. See the
Living Benefit Riders - Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)
section of this prospectus for more information. Additionally, a Nursing Home
Enhancement may be available, which will increase the Guaranteed Annual Income
amount upon admittance to an approved nursing care facility, subject to certain
conditions. Withdrawals may be made up to the Guaranteed Annual Income amount
as long as that amount is greater than zero. The Income Base is not available
as a separate benefit upon death or surrender and is increased by subsequent
Purchase Payments, 5% Enhancements to the Income Base (less Purchase Payments
received in the preceding Benefit Year), and Automatic Annual Step-ups to the
Income Base and is decreased by Excess Withdrawals in accordance with
provisions described in this prospectus. Lincoln Lifetime IncomeSM Advantage
2.0 (Managed Risk) is available for election only at the time the contract is
purchased, unless the contract was issued prior to August 26, 2013. You cannot
simultaneously elect Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)
with any other Living Benefit Rider. There is an additional charge for this
rider, and you will be subject to Investment Requirements. See Charges and
Other Deductions - Rider Charges, The Contracts - Investment Requirements and
Living Benefit Riders - Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk).

What is Lincoln Market Select (Reg. TM) Advantage? Lincoln Market Select (Reg.
TM) Advantage is an optional rider that you may purchase which provides annual
guaranteed lifetime periodic withdrawals up to a guaranteed amount based on an
Income Base, a 5% Enhancement to the Income Base (less Purchase Payments
received in the preceding Benefit Year), or an Automatic Annual Step-up to the
Income Base, and age-based increases to the guaranteed periodic withdrawal
amount, subject to certain conditions. See the Living Benefit Riders - Lincoln
Market Select (Reg. TM) Advantage section of this prospectus for more
information. Withdrawals may be made up to the Guaranteed Annual Income amount
as long as that amount is greater than zero. The Income Base is not available
as a separate benefit upon death or surrender, and is increased by subsequent
Purchase Payments, 5% Enhancements (less Purchase Payments received in the
preceding Benefit Year), and Automatic Annual Step-ups, and is decreased by
Excess Withdrawals in accordance with provisions described in this prospectus.
Lincoln Market Select (Reg. TM) Advantage is available to new Contractowners
and to current Contractowners who wish to terminate their Lincoln Lifetime
IncomeSM Advantage 2.0 (Managed Risk) rider. You cannot simultaneously elect
Lincoln Market Select (Reg. TM) Advantage with any other Living Benefit Rider.
There is an additional charge for this rider and you will be subject to
Investment Requirements. See Charges and Other Deductions - Rider Charges, The
Contracts - Investment Requirements, and Living Benefit Riders - Lincoln Market
Select (Reg. TM) Advantage.

What is Lincoln Max 6 SelectSM Advantage? Lincoln Max 6 SelectSM Advantage is
an optional rider that you may purchase that provides annual guaranteed
lifetime periodic withdrawals up to a guaranteed amount based on a percentage
of an Income Base, an

27
<PAGE>

enhancement to the Income Base equal to 6% of the Enhancement Base (less
Purchase Payments received in the preceding Benefit Year), or an Automatic
Annual Step-up to the Income Base, and age-based increases to the guaranteed
periodic withdrawal amount, subject to certain conditions. See the Living
Benefit Riders - Lincoln Max 6 SelectSM Advantage section of this prospectus
for more information. Withdrawals may be made up to the Guaranteed Annual
Income amount, which is based upon rates that will be higher when the Contract
Value is greater than zero and lower if it is reduced to zero. The Income Base
and Enhancement Base are not available as separate benefits upon death or
surrender. The Income Base is increased by 6% Enhancements. The Income Base and
Enhancement Base are both increased by subsequent Purchase Payments and
Automatic Annual Step-ups, and are decreased by Excess Withdrawals. Lincoln Max
6 SelectSM Advantage is available for election only at the time the contract is
purchased. You cannot simultaneously elect Lincoln Max 6 SelectSM Advantage
with any other Living Benefit Rider. There is an additional charge for this
rider and you will be subject to Investment Requirements. See Charges and Other
Deductions - Rider Charges, The Contracts - Investment Requirements, and Living
Benefit Riders - Lincoln Max 6 SelectSM Advantage.

What is 4LATER (Reg. TM) Select Advantage? 4LATER (Reg. TM) Select Advantage is
an optional rider that you may purchase that provides an Income Base which may
be used to establish the amount of the Guaranteed Income Benefit upon election
of i4LIFE (Reg. TM) Advantage. If you elect 4LATER (Reg. TM) Select Advantage,
you must later elect i4LIFE (Reg. TM) Advantage Select Guaranteed Income
Benefit to receive a benefit from 4LATER (Reg. TM) Select Advantage. 4LATER
(Reg. TM) Select Advantage is available to new Contractowners and to current
Contractowners who wish to terminate their 4LATER (Reg. TM) Advantage (Managed
Risk) rider. You cannot simultaneously elect 4LATER (Reg. TM) Select Advantage
with any other Living Benefit Rider. There is an additional charge for this
rider, and you will be subject to Investment Requirements. See Charges and
Other Deductions - Rider Charges, The Contracts - Investment Requirements, and
Living Benefit Riders - 4LATER (Reg. TM) Select Advantage.

What is i4LIFE (Reg. TM) Advantage? i4LIFE (Reg. TM) Advantage is an Annuity
Payout option, available for purchase at an additional charge, that provides
periodic variable lifetime income payments. During the Access Period, you have
access to your Account Value, which means you have a Death Benefit and may
surrender the contract or make withdrawals. For an additional charge, you may
purchase a minimum payout floor, the Guaranteed Income Benefit. The charge is
imposed only during the i4LIFE (Reg. TM) Advantage payout phase, and is based
on the i4LIFE (Reg. TM) Advantage Death Benefit you choose and whether or not
the Guaranteed Income Benefit is in effect.

What is i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit? The Guaranteed
Income Benefit provides a minimum payout floor for your i4LIFE (Reg. TM)
Advantage Regular Income Payments. The Guaranteed Income Benefit may be
purchased when you elect i4LIFE (Reg. TM) Advantage or any time during the
Access Period, subject to terms and conditions at that time. The minimum floor
is based on the Contract Value at the time you elect i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit. If you previously elected a Living Benefit Rider,
your Income Base or Guaranteed Amount under that rider may be used to establish
the amount of the initial Guaranteed Income Benefit at the time you transition
to i4LIFE (Reg. TM) Advantage. There is an additional charge for this rider,
and you will be subject to Investment Requirements. See The Contracts -
Investment Requirements, Living Benefit Riders - Guaranteed Income Benefit with
i4LIFE (Reg. TM) Advantage, Lincoln Lifetime IncomeSM Advantage 2.0 (Managed
Risk), Lincoln Market Select (Reg. TM) Advantage, 4LATER (Reg. TM) Select
Advantage, and Appendix D - and Lincoln Lifetime IncomeSM Advantage, Lincoln
SmartSecurity (Reg. TM) Advantage, 4LATER (Reg. TM) Advantage (Managed Risk),
4LATER (Reg. TM) Advantage Guaranteed Income Benefit. i4LIFE (Reg. TM)
Advantage Select Guaranteed Income Benefit and i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit (Managed Risk) are the only versions of this rider
available for purchase unless you are guaranteed the right to elect a prior
version under another Living Benefit Rider.

What is Lincoln Long-Term CareSM Advantage? The Lincoln Long-Term CareSM
Advantage rider (or "LTC rider") is a qualified long-term care rider that
provides a way to manage the potential impact of long-term care expenses. The
LTC rider provides the potential to receive benefits equal to your Purchase
Payments plus an additional amount equal to two times your Purchase Payments.
These benefits are paid to you income tax-free. In addition, you have the
opportunity to increase your tax-free long-term care benefits if there is
investment gain in your contract. The LTC rider may only be purchased at the
time the contract is issued. You cannot simultaneously elect the LTC rider with
any other Living Benefit Rider. There is an additional charge for this rider,
and you will be subject to Investment Requirements. The LTC rider is not
available in all states. Check with your registered representative regarding
availability. See The Contracts - Investment Requirements and Living Benefit
Riders - Lincoln Long-Term CareSM Advantage.

May I surrender the contract or make a withdrawal? Yes, subject to contract
requirements and to the restrictions of any qualified retirement plan for which
the contract was purchased. See The Contracts - Surrenders and Withdrawals. A
portion of surrender or withdrawal proceeds may be taxable. In addition, if you
decide to take a distribution before age 591/2, a 10% Internal Revenue Service
(IRS) additional tax may apply. A surrender or a withdrawal also may be subject
to 20% withholding. See The Contracts - Surrenders and Withdrawals and Federal
Tax Matters.

Can I cancel this contract? Yes. You can cancel the contract within ten days
(in some states longer) of the date you first receive the contract. You need to
return the contract, postage prepaid, to our Home Office. In most states you
assume the risk of any market drop on Purchase Payments you allocate to the
variable side of the contract. See Return Privilege.

Condensed Financial Information
Appendixes A, B and C to this prospectus provide more information about
Accumulation Unit values.

28
<PAGE>

Investment Results
At times, the VAA may compare its investment results to various unmanaged
indices or other variable annuities in reports to shareholders, sales
literature and advertisements. The results will be calculated on a total return
basis for various periods. Total returns include the reinvestment of all
distributions, which are reflected in changes in unit value. The money market
Subaccount's yield is based upon investment performance over a 7-day period,
which is then annualized.

Note that there can be no assurance that any money market fund will be able to
maintain a stable net asset value per share. During extended periods of low
interest rates, and due in part to the contract fees and expenses, the yields
of any Subaccount investing in a money market fund may also become extremely
low and possibly negative.

The money market yield figure and annual performance of the Subaccounts are
based on past performance and do not indicate or represent future performance.

The Lincoln National Life Insurance Company
The Lincoln National Life Insurance Company (Lincoln Life or Company),
organized in 1905, is an Indiana-domiciled insurance company, engaged primarily
in the direct issuance of life insurance contracts and annuities. Lincoln Life
is wholly owned by Lincoln National Corporation (LNC), a publicly held
insurance and financial services holding company incorporated in Indiana.
Lincoln Life is obligated to pay all amounts promised to Contractowners under
the contracts.

Depending on when you purchased your contract, you may be permitted to make
allocations to the fixed account, which is part of our general account. The
fixed account is not currently available except for use with dollar-cost
averaging. See The Fixed Side of the Contract. In addition, any guarantees
under the contract that exceed your Contract Value, such as those associated
with Death Benefit options and Living Benefit Riders are paid from our general
account (not the VAA). Therefore, any amounts that we may pay under the
contract in excess of Contract Value are subject to our financial strength and
claims-paying ability and our long-term ability to make such payments.

We issue other types of insurance policies and financial products as well. In
addition to any amounts we are obligated to pay in excess of Contract Value
under the contracts, we also pay our obligations under these products from our
assets in the general account. Moreover, unlike assets held in the VAA, the
assets of the general account are subject to the general liabilities of the
Company and, therefore, to the Company's general creditors. In the event of an
insolvency or receivership, payments we make from our general account to
satisfy claims under the contract would generally receive the same priority as
our other Contractowner obligations.

The general account is not segregated or insulated from the claims of the
insurance company's creditors. Investors look to the financial strength of the
insurance companies for these insurance guarantees. Therefore, guarantees
provided by the insurance company as to benefits promised in the prospectus are
subject to the claims paying ability of the insurance company and are subject
to the risk that the insurance company may not be able to cover or may default
on its obligations under those guarantees.

Our Financial Condition. Among the laws and regulations applicable to us as an
insurance company are those which regulate the investments we can make with
assets held in our general account. In general, those laws and regulations
determine the amount and type of investments which we can make with general
account assets.

In addition, state insurance regulations require that insurance companies
calculate and establish on their financial statements, a specified amount of
reserves in order to meet the contractual obligations to pay the claims of our
Contractowners. In order to meet our claims-paying obligations, we regularly
monitor our reserves to ensure we hold sufficient amounts to cover actual or
expected contract and claims payments. However, it is important to note that
there is no guarantee that we will always be able to meet our claims paying
obligations, and that there are risks to purchasing any insurance product.

State insurance regulators also require insurance companies to maintain a
minimum amount of capital in excess of liabilities, which acts as a cushion in
the event that the insurer suffers a financial impairment, based on the
inherent risks in the insurer's operations. These risks include those
associated with losses that we may incur as the result of defaults on the
payment of interest or principal on assets held in our general account, which
include bonds, mortgages, general real estate investments, and stocks, as well
as the loss in value of these investments resulting from a loss in their market
value.

How to Obtain More Information. We encourage both existing and prospective
Contractowners to read and understand our financial statements. We prepare our
financial statements on both a statutory basis and according to Generally
Accepted Accounting Principles (GAAP). Our audited GAAP financial statements,
as well as the financial statements of the VAA, are located in the SAI. If you
would like a free copy of the SAI, please write to us at: PO Box 2348, Fort
Wayne, IN 46801-2348, or call 1-888-868-2583. In addition, the Statement of
Additional Information is available on the SEC's website at http://www.sec.gov.
You may obtain our audited statutory financial statements and any unaudited
statutory financial statements that may be available by visiting our website at
www.LincolnFinancial.com.

29
<PAGE>

You also will find on our website information on ratings assigned to us by one
or more independent rating organizations. These ratings are opinions of an
operating insurance company's financial capacity to meet the obligations of its
insurance and annuity contracts based on its financial strength and/or
claims-paying ability. Additional information about rating agencies is included
in the SAI.

Lincoln Financial Group is the marketing name for Lincoln National Corporation
(NYSE:LNC) and its affiliates. Through its affiliates, Lincoln Financial Group
offers annuities, life, group life and disability insurance, 401(k) and 403(b)
plans, and comprehensive financial planning and advisory services.

Variable Annuity Account (VAA)
On November 3, 1997, the VAA was established as an insurance company separate
account under Indiana law. It is registered with the SEC as a unit investment
trust under the provisions of the Investment Company Act of 1940 (1940 Act).
The VAA is a segregated investment account, meaning that its assets may not be
charged with liabilities resulting from any other business that we may conduct.
Income, gains and losses, whether realized or not, from assets allocated to the
VAA are, in accordance with the applicable annuity contracts, credited to or
charged against the VAA. They are credited or charged without regard to any
other income, gains or losses of Lincoln Life. We are the issuer of the
contracts and the obligations set forth in the contract, other than those of
the Contractowner, are ours. The VAA satisfies the definition of a separate
account under the federal securities laws. We do not guarantee the investment
performance of the VAA. Any investment gain or loss depends on the investment
performance of the funds. You assume the full investment risk for all amounts
allocated to the VAA.

The VAA is used to support other annuity contracts offered by us in addition to
the contracts described in this prospectus. The other annuity contracts
supported by the VAA generally invest in the same funds as the contracts
described in this prospectus. These other annuity contracts may have different
charges that could affect the performance of their Subaccounts, and they offer
different benefits.

Financial Statements
The December 31, 2016 financial statements of the VAA and the December 31, 2016
consolidated financial statements of Lincoln Life are located in the SAI. If
you would like a free copy of the SAI, complete and mail the request on the
last page of this prospectus, or call 1-888-868-2583.

Investments of the Variable Annuity Account
You decide the Subaccount(s) to which you allocate Net Purchase Payments. There
is a separate Subaccount which corresponds to each class of each fund. You may
change your allocation without penalty or charges. Shares of the funds will be
sold at net asset value with no initial sales charge to the VAA in order to
fund the contracts. The funds are required to redeem fund shares at net asset
value upon our request.

Investment Advisers

As compensation for its services to the funds, each investment adviser for each
fund receives a fee from the funds which is accrued daily and paid monthly.
This fee is based on the net assets of each fund, as defined in the
prospectuses for the funds.

Certain Payments We Receive with Regard to the Funds

We (and/or our affiliates) incur expenses in promoting, marketing, and
administering the contracts and the underlying funds. With respect to a fund,
including affiliated funds, the adviser and/or distributor, or an affiliate
thereof, may make payments to us (or an affiliate) for certain services we
provide on behalf of the funds. Such services include, but are not limited to,
recordkeeping; aggregating and processing purchase and redemption orders;
providing Contractowners with statements showing their positions within the
funds; processing dividend payments; providing subaccounting services for
shares held by Contractowners; and forwarding shareholder communications, such
as proxies, shareholder reports, dividend and tax notices, and printing and
delivering prospectuses and updates to Contractowners. It is anticipated that
such payments will be based on a percentage of assets of the particular fund
attributable to the contracts along with certain other variable contracts
issued or administered by us (or an affiliate). These percentages are
negotiated and vary with each fund. Some advisers and/or distributors may pay
us significantly more than other advisers and/or distributors and the amount we
receive may be substantial. These percentages currently range up to 0.50%, and
as of the date of this prospectus, we were receiving payments from most fund
families. We (or our affiliates) may profit from these payments. These payments
may be derived, in whole or in part, from the investment advisory fee deducted
from fund assets. Contractowners, through their indirect investment in the
funds, bear the costs of these investment advisory fees (see the funds'
prospectuses for more information). Additionally, a fund's adviser and/or
distributor or its affiliates may provide us with certain services that assist
us in the distribution of the contracts and may pay us and/or certain
affiliates amounts for marketing programs and sales support, as well as amounts
to participate in training and sales meetings.

30
<PAGE>

In addition to the payments described above, most of the funds offered as part
of this contract make payments to us under their distribution plans (12b-1
plans) for the marketing and distribution of fund shares. The payment rates
range up to 0.55% based on the amount of assets invested in those funds.
Payments made out of the assets of the fund will reduce the amount of assets
that otherwise would be available for investment, and will reduce the fund's
investment return. The dollar amount of future asset-based fees is not
predictable because these fees are a percentage of the fund's average net
assets, which can fluctuate over time. If, however, the value of the fund goes
up, then so would the payment to us (or our affiliates). Conversely, if the
value of the funds goes down, payments to us or our affiliates would decrease.

Description of the Funds

Each of the Subaccounts of the VAA is invested solely in shares of one of the
funds available under the contract. Each fund may be subject to certain
investment policies and restrictions which may not be changed without a
majority vote of shareholders of that fund.

We select the funds offered through the contract based on several factors,
including, without limitation, asset class coverage, the strength of the
manager's reputation and tenure, brand recognition, performance, the capability
and qualification of each sponsoring investment firm, and whether the fund is
affiliated with us. Another factor we consider during the initial selection
process is whether the fund or an affiliate of the fund will make payments to
us or our affiliates. We may also consider the ability of the fund to help
manage volatility and our risks associated with the guarantees we provide under
the contract and under optional riders, especially the Living Benefit Riders.
We review each fund periodically after it is selected. We reserve the right to
remove a fund or restrict allocation of additional Purchase Payments to a fund
if we determine the fund no longer meets one or more of the factors and/or if
the fund has not attracted significant Contractowner assets. Finally, when we
develop a variable annuity product in cooperation with a fund family or
distributor (e.g., a "private label" product), we generally will include funds
based on recommendations made by the fund family or distributor, whose
selection criteria may differ from our selection criteria.

Certain funds offered as part of this contract have similar investment
objectives and policies to other portfolios managed by the adviser. The
investment results of the funds, however, may be higher or lower than the other
portfolios that are managed by the adviser or sub-adviser. There can be no
assurance, and no representation is made, that the investment results of any of
the funds will be comparable to the investment results of any other portfolio
managed by the adviser or sub-adviser, if applicable.

Certain funds invest their assets in other funds. As a result, you will pay
fees and expenses at both fund levels. This will reduce your investment return.
These arrangements are referred to as funds of funds or master-feeder funds,
which may have higher expenses than funds that invest directly in debt or
equity securities. An advisor affiliated with us manages some of the available
funds of funds. Our affiliates may promote the benefits of such funds to
Contractowners and/or suggest that Contractowners consider whether allocating
some or all of their Contract Value to such portfolios is consistent with their
desired investment objectives. In doing so, we may be subject to conflicts of
interest insofar as we may derive greater revenues from the affiliated fund of
funds than certain other funds available to you under your contract.

Certain funds may employ risk management strategies to provide for downside
protection during sharp downward movements in equity markets. These strategies
could limit the upside participation of the fund in rising equity markets
relative to other funds. The Death Benefits and Living Benefit Riders offered
under the contract also provide protection in the event of a market downturn.
Likewise, there are additional costs associated with the Death Benefits and
Living Benefit Riders, which can limit the contract's upside participation in
the markets. Many of these funds are included in the Investment Requirements
associated with the Living Benefit Riders. Risk management strategies, in
periods of high market volatility, could limit your participation in market
gains; this may conflict with your investment objectives by limiting your
ability to maximize potential growth of your Contract Value and, in turn, the
value of any guaranteed benefit that is tied to investment performance. For
more information on these funds and their risk management strategies, please
see the Investment Requirements section of this prospectus. You should contact
the Home Office or consult with your registered representative to determine
which combination of investment choices and Death Benefit and/or Living Benefit
Rider purchases (if any) are appropriate for you.

Following are brief summaries of the fund descriptions. More detailed
information may be obtained from the current prospectus for each fund. You
should read each fund prospectus carefully before investing. Prospectuses for
each fund are available by contacting us. In addition, if you receive a summary
prospectus for a fund, you may obtain a full statutory prospectus by referring
to the contact information for the fund company on the cover page of the
summary prospectus. Please be advised that there is no assurance that any of
the funds will achieve their stated objectives.

AIM Variable Insurance Funds (Invesco Variable Insurance Funds), advised by
Invesco Advisers, Inc.

oInvesco V.I. Equally-Weighted S&P 500 Fund (Series II Shares): To seek to
achieve a high level of total return on its assets through a combination
of capital appreciation and current income.

oInvesco V.I. International Growth Fund (Series II Shares): Long-term
growth of capital.

AllianceBernstein Variable Products Series Fund, advised by AllianceBernstein,
L.P.

oAB VPS Global Thematic Growth Portfolio (Class B): Long-term growth of
capital.

31
<PAGE>

oAB VPS Small/Mid Cap Value Portfolio (Class B): Long-term growth of
capital.

ALPS Variable Investment Trust, advised by ALPS Advisors, Inc.

oALPS/Stadion Core ETF Portfolio (Class III): Capital appreciation; a fund
of funds.
This fund will be available on or about May 22, 2017. Consult your
registered representative.

American Century Variable Portfolios, Inc., advised by American Century
Investment Management, Inc.

oAmerican Century VP Balanced Fund (Class II): Long-term capital growth and
current income by investing approximately 60% of its assets in equity
securities and the remainder in bonds and other fixed-income securities.

oAmerican Century VP Large Company Value Fund (Class II): Long-term
capital growth. Income is a secondary objective.
This fund will be available on or about May 22, 2017. Consult your
registered representative.

American Funds Insurance Series (Reg. TM), advised by Capital Research and
Management Company

oGlobal Growth Fund (Class 2): Long-term growth of capital.
This fund is not available in contracts issued on or after November 15,
2010. For contracts purchased as part of a Fee-Based Financial Plan, this
fund is not available on or after June 29, 2010.

oGlobal Small Capitalization Fund (Class 2): Long-term capital growth.
This fund is not available in contracts issued on or after November 15,
2010. For contracts purchased as part of a Fee-Based Financial Plan, this
fund is not available on or after June 29, 2010.

oGrowth Fund (Class 2): Growth of capital.
This fund is not available in contracts issued on or after November 15,
2010. For contracts purchased as part of a Fee-Based Financial Plan, this
fund is not available on or after June 29, 2010.

oGrowth-Income Fund (Class 2): Long-term growth of capital and income.
This fund is not available in contracts issued on or after November 15,
2010. For contracts purchased as part of a Fee-Based Financial Plan, this
fund is not available on or after June 29, 2010.

oInternational Fund (Class 2): Long-term growth of capital.
This fund is not available in contracts issued on or after November 15,
2010. For contracts purchased as part of a Fee-Based Financial Plan, this
fund is not available on or after June 29, 2010.

BlackRock Variable Series Funds, Inc., advised by BlackRock Advisors, LLC

oBlackRock Global Allocation V.I. Fund (Class III): High total investment
return.

Delaware VIP (Reg. TM) Trust, advised by Delaware Management Company(1)

oDiversified Income Series (Service Class): Maximum long-term total return
consistent with reasonable risk.

oEmerging Markets Series (Service Class): Long-term capital appreciation.

oHigh Yield Series (Service Class): Total return and, as a secondary
objective, high current income.
This fund is not available in contracts issued on or after November 15,
2010. For contracts purchased as part of a Fee-Based Financial Plan, this
fund is not available on or after June 29, 2010.

oLimited-Term Diversified Income Series (Service Class): Maximum total
return, consistent with reasonable risk.

oREIT Series (Service Class): Maximum long-term total return, with capital
appreciation as a secondary objective.

oSmall Cap Value Series (Service Class): Capital appreciation.

oSmid Cap Core Series (Service Class): Long-term capital appreciation.
(formerly Smid Cap Growth Series)

oU.S. Growth Series (Service Class): Long-term capital appreciation.

oValue Series (Service Class): Long-term capital appreciation.

Deutsche Variable Series II, advised by Deutsche Investment Management
Americas, Inc.

oDeutsche Alternative Asset Allocation VIP Portfolio (Class B): Capital
appreciation; a fund of funds.

Fidelity (Reg. TM) Variable Insurance Products, advised by Fidelity Management
and Research Company

oContrafund (Reg. TM) Portfolio (Service Class 2): Long-term capital
appreciation.

oFundsManager (Reg. TM) 50% Portfolio (Service Class 2): High total
return; a fund of funds.

oGrowth Portfolio (Service Class 2): To achieve capital appreciation.

32
<PAGE>

oMid Cap Portfolio (Service Class 2): Long-term growth of capital.

First Trust Variable Insurance Trust, advised by First Trust Advisors, L.P.

oFirst Trust/Dow Jones Dividend & Income Allocation Portfolio (Class I): To
provide total return by allocating among dividend-paying stocks and
investment grade bonds.

Franklin Templeton Variable Insurance Products Trust, advised by Franklin
Advisers, Inc. for the Franklin Income VIP Fund, by Templeton Global Advisors
Limited for the Templeton Global Bond VIP Fund, and by Franklin Mutual
Advisors, LLC for the Franklin Mutual Shares VIP Fund.

oFranklin Income VIP Fund (Class 2): To maximize income while maintaining
prospects for capital appreciation.
This fund is not available in contracts issued on or after January 9,
2017.

oFranklin Income VIP Fund (Class 4): To maximize income while maintaining
prospects for capital appreciation.
This fund is not available in contracts issued before January 9, 2017.

oFranklin Mutual Shares VIP Fund (Class 2): Capital appreciation; income
is a secondary consideration.
This fund is not available in contracts issued on or after January 9,
2017.

oFranklin Mutual Shares VIP Fund (Class 4): Capital appreciation; income
is a secondary consideration.
This fund is not available in contracts issued before January 9, 2017.

oTempleton Global Bond VIP Fund (Class 2): High current income consistent
with preservation of capital; capital appreciation is a secondary
objective.
This fund is not available in contracts issued on or after January 9,
2017.

JPMorgan Insurance Trust, advised by J.P. Morgan Investment Management Inc.

oJPMorgan Insurance Trust Core Bond Portfolio (Class 2): To maximize total
return by investing primarily in a diversified portfolio of intermediate-
and long-term debt securities.

oJPMorgan Insurance Trust Global Allocation Portfolio (Class 2): Maximize
long-term total return.
This fund is not available in contracts issued on or after January 9,
2017.

Legg Mason Partners Variable Equity Trust, advised by Legg Mason Partners Fund
Advisor, LLC.

oClearBridge Variable Large Cap Growth Portfolio (Class II): Long-term
growth of capital.
This fund will be available on or about May 22, 2017. Consult your
registered representative.

oClearBridge Variable Mid Cap Portfolio (Class II): Long-term growth of
capital.

oQS Variable Conservative Growth (Class II): Balance of growth of capital
and income.
This fund will be available on or about May 22, 2017. Consult your
registered representative.

Lincoln Variable Insurance Products Trust, advised by Lincoln Investment
Advisors Corporation.

oLVIP American Century Select Mid Cap Managed Volatility Fund (Service
Class): Capital appreciation; a fund of funds.

oLVIP American Global Growth Fund (Service Class II): Long-term growth of
capital; a master-feeder fund.
This fund is not available in contracts issued before November 15, 2010.

oLVIP American Global Small Capitalization Fund (Service Class II):
Long-term growth of capital; a master-feeder fund.
This fund is not available in contracts issued before November 15, 2010.

oLVIP American Growth Fund (Service Class II): Growth of capital; a
master-feeder fund.
This fund is not available in contracts issued before November 15, 2010.

oLVIP American Growth-Income Fund (Service Class II): Long-term growth of
capital and income; a master-feeder fund.
This fund is not available in contracts issued before November 15, 2010.

oLVIP American International Fund (Service Class II): Long-term growth of
capital; a master-feeder fund.
This fund is not available in contracts issued before November 15, 2010.

oLVIP Baron Growth Opportunities Fund (Service Class): Capital
appreciation.

oLVIP BlackRock Dividend Value Managed Volatility Fund (Service Class):
Reasonable income by investing primarily in income-producing equity
securities.

oLVIP BlackRock Global Allocation V.I. Managed Risk Fund (Service Class):
Capital appreciation; a fund of funds.

oLVIP BlackRock Global Growth ETF Allocation Managed Risk Fund (Service
Class): A balance between current income and growth of capital, with a
greater emphasis on growth of capital; a fund of funds.

33
<PAGE>

oLVIP BlackRock Inflation Protected Bond Fund (Service Class): To maximize
real return, consistent with preservation of real capital and prudent
investment management.

oLVIP BlackRock Scientific Allocation Fund (Service Class): Total return.
This fund will be available on or about May 22, 2017. Consult your
registered representative.

oLVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund (Service
Class): A balance between current income and growth of capital, with a
greater emphasis on growth of capital; a fund of funds.

oLVIP Blended Core Equity Managed Volatility Fund (Service Class): Capital
appreciation; a fund of funds.

oLVIP Blended Large Cap Growth Managed Volatility Fund (Service Class):
Long-term growth of capital in a manner consistent with the preservation
of capital.

oLVIP Blended Mid Cap Managed Volatility Fund (Service Class): Capital
appreciation.

oLVIP Clarion Global Real Estate Fund (Service Class): Total return through
a combination of current income and long-term capital appreciation.

oLVIP ClearBridge Large Cap Managed Volatility Fund (Service Class):
Long-term capital appreciation; a fund of funds.

oLVIP Delaware Bond Fund (Service Class)(1): Maximum current income
(yield) consistent with a prudent investment strategy.

oLVIP Delaware Diversified Floating Rate Fund (Service Class)(1): Total
return.

oLVIP Delaware Social Awareness Fund (Service Class)(1): To maximize
long-term capital appreciation.

oLVIP Delaware Special Opportunities Fund (Service Class)(1): To maximize
long-term capital appreciation.

oLVIP Delaware Wealth Builder Fund (Service Class)(1): To provide a
responsible level of income and the potential for capital appreciation.
(formerly LVIP Delaware Foundation (Reg. TM) Aggressive Allocation Fund)
This fund is not available in contracts issued on or after June 30, 2009,
but will reopen for all contracts on or about May 22, 2017.

oLVIP Dimensional International Core Equity Fund (Service Class):
Long-term capital appreciation.

oLVIP Dimensional International Equity Managed Volatility Fund (Service
Class): Long-term capital appreciation; a fund of funds.

oLVIP Dimensional U.S. Core Equity 1 Fund (Service Class): Long-term
capital appreciation.

oLVIP Dimensional U.S. Core Equity 2 Fund (Service Class): Long-term
capital appreciation.

oLVIP Dimensional U.S. Equity Managed Volatility Fund (Service Class):
Long-term capital appreciation; a fund of funds.

oLVIP Dimensional/Vanguard Total Bond Fund (Service Class): Total return
consistent with preservation of capital; a fund of funds.

oLVIP Franklin Templeton Global Equity Managed Volatility Fund (Service
Class): Long-term capital growth.

oLVIP Franklin Templeton Multi-Asset Opportunities Fund (Service Class):
Long-term growth of capital.

oLVIP Franklin Templeton Value Managed Volatility Fund (Service Class):
Capital appreciation; a fund of funds.

oLVIP Global Conservative Allocation Managed Risk Fund (Service Class): A
high level of current income with some consideration given to growth of
capital; a fund of funds.

oLVIP Global Growth Allocation Managed Risk Fund (Service Class): A balance
between a high level of current income and growth of capital, with a
greater emphasis on growth of capital; a fund of funds.

oLVIP Global Income Fund (Service Class): Current income consistent with
preservation of capital.

oLVIP Global Moderate Allocation Managed Risk Fund (Service Class): A
balance between a high level of current income and growth of capital, with
an emphasis on growth of capital; a fund of funds.

oLVIP Goldman Sachs Income Builder Fund (Service Class): To seek a balance
of current income and capital appreciation.

oLVIP Government Money Market Fund (Service Class): Current income while
(i) maintaining a stable value of your shares (providing stability of net
asset value) and (ii) preserving the value of your initial investment
(preservation of capital).

oLVIP Invesco Diversified Equity-Income Managed Volatility Fund (Service
Class): Capital appreciation and current income; a fund of funds.

oLVIP Invesco Select Equity Managed Volatility Fund (Service Class):
Capital appreciation; a fund of funds.

oLVIP JPMorgan High Yield Fund (Service Class): A high level of current
income; capital appreciation is the secondary objective.

oLVIP JPMorgan Select Mid Cap Value Managed Volatility Fund (Service
Class): Long-term capital appreciation.

34
<PAGE>

oLVIP JPMorgan Retirement Income Fund (Service Class): Current income and
some capital appreciation.
This fund will be available on or about May 22, 2017. Consult your
registered representative.

oLVIP Managed Risk Profile 2010 Fund (Service Class): The highest total
return over time with an increased emphasis on capital preservation as the
target date approaches; a fund of funds.
This fund is not available in contracts issued on or after June 30, 2009.

oLVIP Managed Risk Profile 2020 Fund (Service Class): The highest total
return over time with an increased emphasis on capital preservation as the
target date approaches; a fund of funds.
This fund is not available in contracts issued on or after June 30, 2009.

oLVIP Managed Risk Profile 2030 Fund (Service Class): The highest total
return over time with an increased emphasis on capital preservation as the
target date approaches; a fund of funds.
This fund is not available in contracts issued on or after June 30, 2009.

oLVIP Managed Risk Profile 2040 Fund (Service Class): The highest total
return over time with an increased emphasis on capital preservation as the
target date approaches; a fund of funds.
This fund is not available in contracts issued on or after June 30, 2009.

oLVIP MFS International Equity Managed Volatility Fund (Service Class):
Capital appreciation; a fund of funds.

oLVIP MFS International Growth Fund (Service Class): Long-term capital
appreciation.

oLVIP MFS Value Fund (Service Class): Capital appreciation.

oLVIP Mondrian International Value Fund (Service Class): Long-term capital
appreciation as measured by the change in the value of fund shares over a
period of three years or longer.

oLVIP Multi-Manager Global Equity Managed Volatility Fund (Service Class):
Long-term growth of capital; a fund of funds.

oLVIP PIMCO Low Duration Bond Fund (Service Class): To seek a high level of
current income consistent with preservation of capital.

oLVIP Select Core Equity Managed Volatility Fund (Service Class): Capital
appreciation; a fund of funds.

oLVIP SSGA Bond Index Fund (Service Class): To match as closely as
practicable, before fees and expenses, the performance of the Barclays
Capital U.S. Aggregate Index.

oLVIP SSGA Conservative Index Allocation Fund (Service Class): A high level
of current income, with some consideration given to growth of capital; a
fund of funds.

oLVIP SSGA Conservative Structured Allocation Fund (Service Class): A high
level of current income, with some consideration given to growth of
capital; a fund of funds.

oLVIP SSGA Developed International 150 Fund (Service Class): To maximize
long-term capital appreciation.

oLVIP SSGA Emerging Markets 100 Fund (Service Class): To maximize
long-term capital appreciation.

oLVIP SSGA Global Tactical Allocation Managed Volatility Fund (Service
Class): Long-term growth of capital; a fund of funds.

oLVIP SSGA International Index Fund (Service Class): To approximate as
closely as practicable, before fees and expenses, the performance of a
broad market index of non-U.S. foreign securities.

oLVIP SSGA International Managed Volatility Fund (Service Class): Capital
appreciation; a fund of funds.

oLVIP SSGA Large Cap 100 Fund (Service Class): To maximize long-term
capital appreciation.

oLVIP SSGA Large Cap Managed Volatility Fund (Service Class): Capital
appreciation; a fund of funds.

oLVIP SSGA Mid-Cap Index Fund (Service Class): To seek to approximate as
closely as practicable, before fees and expenses, the performance of a
broad market index that emphasizes stocks of mid-sized U.S. companies.

oLVIP SSGA Moderate Index Allocation Fund (Service Class): A balance
between a high level of current income and growth of capital, with a
greater emphasis on growth of capital; a fund of funds.

oLVIP SSGA Moderate Structured Allocation Fund (Service Class): A balance
between a high level of current income and growth of capital, with an
emphasis on growth of capital; a fund of funds.

oLVIP SSGA Moderately Aggressive Index Allocation Fund (Service Class): A
balance between high level of current income and growth of capital, with a
greater emphasis on growth of capital; a fund of funds.

oLVIP SSGA Moderately Aggressive Structured Allocation Fund (Service
Class): A balance between high level of current income and growth of
capital, with a greater emphasis on growth of capital; a fund of funds.

oLVIP SSGA S&P 500 Index Fund (Service Class): To approximate as closely as
practicable, before fees and expenses, the total rate of return of common
stocks publicly traded in the United States, as represented by the S&P 500
Index.

oLVIP SSGA Small-Cap Index Fund (Service Class): To approximate as closely
as practicable, before fees and expenses, the performance of the Russell
2000 (Reg. TM) Index, which emphasizes stocks of small U.S. companies.

35
<PAGE>

oLVIP SSGA Small-Mid Cap 200 Fund (Service Class): To maximize long-term
capital appreciation.

oLVIP SSGA SMID Cap Managed Volatility Fund (Service Class): Capital
appreciation; a fund of funds.

oLVIP T. Rowe Price Growth Stock Fund (Service Class): Long-term capital
growth.

oLVIP T. Rowe Price Structured Mid-Cap Growth Fund (Service Class): To
maximize capital appreciation.

oLVIP U.S. Growth Allocation Managed Risk Fund (Service Class): High level
of current income and growth of capital, with an emphasis on growth of
capital; a fund of funds.

oLVIP Vanguard Domestic Equity ETF Fund (Service Class): Long-term capital
appreciation; a fund of funds.

oLVIP Vanguard International Equity ETF Fund (Service Class): Long-term
capital appreciation; a fund of funds.

oLVIP Wellington Capital Growth Fund (Service Class): Capital growth.

oLVIP Wellington Mid-Cap Value Fund (Service Class): Long-term capital
appreciation.

oLVIP Western Asset Core Bond Fund (Service Class): Maximize total return.
This fund will be available on or about May 22, 2017. Consult your
registered representative.

MFS (Reg. TM) Variable Insurance Trust, advised by Massachusetts Financial
Services Company

oMFS (Reg. TM) VIT Growth Series (Service Class): Capital appreciation.

oMFS (Reg. TM) VIT Total Return Series (Service Class): Total return.

oMFS (Reg. TM) VIT Utilities Series (Service Class): Total return.

PIMCO Variable Insurance Trust, advised by PIMCO

oPIMCO VIT CommodityRealReturn (Reg. TM) Strategy Portfolio (Advisor
Class): Maximum real return, consistent with prudent investment
management.
This fund is not available in contracts issued on or after January 9,
2017.

Putnam Variable Trust, advised by Putnam Investment Management, LLC

oPutnam VT George Putnam Balanced Fund (Class IB): Balanced investment
composed of a well-diversified portfolio of stocks and bonds which produce
both capital growth and current income.

(1) Investments in Delaware Investments VIP Series, Delaware Funds, LVIP
Delaware Funds or Lincoln Life accounts managed by Delaware Investment
Advisors, a series of Delaware Management Business Trust, are not and
will not be deposits with or liabilities of Macquarie Bank Limited ABN
46008 583 542 and its holding companies, including their subsidiaries or
related companies, and are subject to investment risk, including possible
delays in prepayment and loss of income and capital invested. No
Macquarie Group company guarantees or will guarantee the performance of
the Series or Funds or accounts, the repayment of capital from the Series
or Funds or account, or any particular rate of return.

Fund Shares

We will purchase shares of the funds at net asset value and direct them to the
appropriate Subaccounts of the VAA. We will redeem sufficient shares of the
appropriate funds to pay Annuity Payouts, Death Benefits, surrender/withdrawal
proceeds or for other purposes described in the contract. If you want to
transfer all or part of your investment from one Subaccount to another, we may
redeem shares held in the first Subaccount and purchase shares of the other.
Redeemed shares are retired, but they may be reissued later.

Shares of the funds are not sold directly to the general public. They are sold
to us, and may be sold to other insurance companies, for investment of the
assets of the Subaccounts established by those insurance companies to fund
variable annuity and variable life insurance contracts.

When a fund sells any of its shares both to variable annuity and to variable
life insurance separate accounts, it is said to engage in mixed funding. When a
fund sells any of its shares to separate accounts of unaffiliated life
insurance companies, it is said to engage in shared funding.

The funds currently engage in mixed and shared funding. Therefore, due to
differences in redemption rates or tax treatment, or other considerations, the
interest of various Contractowners participating in a fund could conflict. Each
of the fund's Board of Directors will monitor for the existence of any material
conflicts, and determine what action, if any, should be taken. The funds do not
foresee any disadvantage to Contractowners arising out of mixed or shared
funding. If such a conflict were to occur, one of the separate accounts might
withdraw its investment in a fund. This might force a fund to sell portfolio
securities at disadvantageous prices. See the prospectuses for the funds.

36
<PAGE>

Reinvestment of Dividends and Capital Gain Distributions

All dividends and capital gain distributions of the funds are automatically
reinvested in shares of the distributing funds at their net asset value on the
date of distribution. Dividends are not paid out to Contractowners as
additional units, but are reflected as changes in unit values.

Addition, Deletion or Substitution of Investments

We reserve the right, within the law, to make certain changes to the structure
and operation of the VAA at our discretion and without your consent. We may
add, delete, or substitute funds for all Contractowners or only for certain
classes of Contractowners. New or substitute funds may have different fees and
expenses, and may only be offered to certain classes of Contractowners.

Substitutions may be made with respect to existing investments or the
investment of future Purchase Payments, or both. We may close Subaccounts to
allocations of Purchase Payments or Contract Value, or both, at any time in our
sole discretion. The funds, which sell their shares to the Subaccounts pursuant
to participation agreements, also may terminate these agreements and
discontinue offering their shares to the Subaccounts. Substitutions might also
occur if shares of a fund should no longer be available, or if investment in
any fund's shares should become inappropriate, in the judgment of our
management, for the purposes of the contract, or for any other reason in our
sole discretion and, if required, after approval from the SEC.

We may also:
o remove, combine, or add Subaccounts and make the new Subaccounts available to
you at our discretion;
o transfer assets supporting the contracts from one Subaccount to another or
from the VAA to another separate account;
o combine the VAA with other separate accounts and/or create new separate
accounts;
o deregister the VAA under the 1940 Act; and
o operate the VAA as a management investment company under the 1940 Act or as
any other form permitted by law.

We may modify the provisions of the contracts to reflect changes to the
Subaccounts and the VAA and to comply with applicable law. We will not make any
changes without any necessary approval by the SEC. We will also provide you
written notice.

Charges and Other Deductions
We will deduct the charges described below to cover our costs and expenses,
services provided and risks assumed under the contracts. We incur certain costs
and expenses for the distribution and administration of the contracts and for
providing the benefits payable thereunder.

Our administrative services include:
o processing applications for and issuing the contracts;
o processing purchases and redemptions of fund shares as required (including
dollar cost averaging, cross-reinvestment, portfolio rebalancing, and
automatic withdrawal services - See Additional Services and the SAI for more
information on these programs);
o maintaining records;
o administering Annuity Payouts;
o furnishing accounting and valuation services (including the calculation and
monitoring of daily Subaccount values);
o reconciling and depositing cash receipts;
o providing contract confirmations;
o providing toll-free inquiry services; and
o furnishing telephone and other electronic surrenders, withdrawals and fund
transfer services.

The risks we assume include:
o the risk that lifetime payments to individuals from Living Benefit Riders
will exceed the Contract Value;
o the risk that Death Benefits paid will exceed the actual Contract Value;
o the risk that, if a Guaranteed Income Benefit rider is in effect, the
required Regular Income Payments will exceed the Account Value;
o the risk that Annuitants upon which Annuity Payouts are based live longer
than we assumed when we calculated our guaranteed rates (these rates are
incorporated in the contract and cannot be changed);
o the risk that our costs in providing the services will exceed our revenues
from contract charges (which we cannot change);
o the risk that the payments of the Acceleration and Growth Benefit under the
Lincoln Long-Term CareSM Advantage rider exceed the Contract Value;
o the risk the Covered Life under the Lincoln Long-Term CareSM Advantage rider
will live longer while receiving benefits than we assumed in the rate
setting process (these rates may change subject to state insurance
department approval); and

37
<PAGE>

o the risk that the actual number of claims under the Lincoln Long-Term CareSM
Advantage rider exceeds the number of claims we assumed in the rate setting
process (these rates may change subject to state insurance department
approval).

The amount of a charge may not necessarily correspond to the costs associated
with providing the services or benefits indicated by the description of the
charge. For example, the sales charge collected may not fully cover all of the
sales and distribution expenses actually incurred by us. Any remaining expenses
will be paid from our general account which may consist, among other things, of
proceeds derived from mortality and expense risk charges deducted from the
account. We may profit from one or more of the fees and charges deducted under
the contract. We may use these profits for any corporate purpose, including
financing the distribution of the contracts.

Due to the different cost structure of contracts purchased as part of a
Fee-Based Financial Plan, such contracts will have different mortality and
expense risk charges and a waiver of the sales charge.

Deductions from the VAA

For the base contract, we apply to the daily asset value of the Subaccounts a
charge which is equal to an annual rate of:

Guarantee of Enhanced Guaranteed
Account Value Principal Death Minimum Death Estate Enhancement
Death Benefit Benefit Benefit (EGMDB) Benefit (EEB)**
--------------- ----------------- -------------------- -------------------

Mortality and expense
risk charge............... 0.65% 0.70% 0.95% 1.15%
Administrative charge.. 0.10% 0.10% 0.10% 0.10%
---- ---- ---- ----
Total annual charge for
each Subaccount*.......... 0.75% 0.80% 1.05% 1.25%

*For contracts purchased prior to June 30, 2010 (if purchased as part of a
Fee-Based Financial Plan) or prior to November 15, 2010 (other than contracts
purchased as part of a Fee-Based Financial Plan), the total annual charges are:
EEB 1.10%; EGMDB 0.90%; Guarantee of Principal 0.75%; Account Value 0.65%.

**This Death Benefit is no longer available

For contracts purchased as part of a Fee-Based Financial Plan on or after June
30, 2010 and prior to May 22, 2017, we apply to the daily asset value of the
Subaccounts a charge which is equal to an annual rate of:[

Guarantee of Enhanced Guaranteed
Account Value Principal Death Minimum Death Estate Enhancement
Death Benefit Benefit Benefit (EGMDB) Benefit (EEB)*
--------------- ----------------- -------------------- -------------------

Mortality and expense
risk charge............... 0.50% 0.55% 0.80% 1.00%
Administrative charge.. 0.10% 0.10% 0.10% 0.10%
---- ---- ---- ----
Total annual charge for
each Subaccount........... 0.60% 0.65% 0.90% 1.10%

*This Death Benefit is no longer available.

For contracts purchased as part of a Fee-Based Financial Plan on and after May
22, 2017, we apply to the daily asset value of the Subaccounts a charge which
is equal to an annual rate of:[

Guarantee of Enhanced Guaranteed
Account Value Principal Death Minimum Death
Death Benefit Benefit Benefit (EGMDB)
--------------- ----------------- --------------------

Mortality and expense risk charge........... 0.10% 0.20% 0.45%
Administrative charge....................... 0.10% 0.10% 0.10%
---- ---- ----
Total annual charge for each Subaccount..... 0.20% 0.30% 0.55%

Sales Charge

A front-end load, or sales charge, will be applied to all initial and
subsequent Gross Purchase Payments that you make. We deduct the sales charge
from each Gross Purchase Payment before it is allocated to a Subaccount and/or
fixed account. The sales charge is a percentage of each Gross Purchase Payment
and is based on the owner's investment amount at the time each Gross Purchase
Payment is made.

For contracts purchased on or after February 8, 2010, the sales charge is
calculated according to the following scale:

38
<PAGE>

Owner's Investment Sales Charge
--------------------------------- -------------

$0 - $49,999............... 5.50%
$50,000 - $99,999.......... 4.50%
$100,000 - $249,999........ 3.50%
$250,000 - $499,999........ 2.50%
$500,000 - $999,999........ 2.00%
$1,000,000 or greater...... 1.00%

For contracts purchased on or after November 9, 2009, the owner's investment is
defined, in accordance with our procedures, as the sum of:

1. the current Gross Purchase Payment and,

2. if making an addition to an existing contract, the higher of:

a. the existing Contract Value, or;

b. the sum of all previous Gross Purchase Payments made into the existing
contract less any withdrawals.

No sales charges will be applied on contracts issued to Selling Group
Individuals, if applicable, in your state.

If you intend to make additional Purchase Payments within thirteen months from
the date you purchase the contract, you might be able to lower the sales charge
you pay by indicating in a Letter of Intent, the total amount of Purchase
Payments you intend to make in the thirteen months from the date you purchase
your contract. On the date you purchase your contract, we will deduct a sales
charge based on the total amount you plan to invest over the following thirteen
months (rather than on the amount of the actual Purchase Payment), if that
sales charge is less than the sales charge based on your initial Purchase
Payment. For example, if your initial Purchase Payment is $90,000, and you have
submitted a Letter of Intent that indicates your intent to invest an additional
$10,000 during the next thirteen months (for total Purchase Payments equal to
$100,000), the sales charge will be calculated based on the assumed $100,000
investment (which qualifies for a sales charge of 3.50%) instead of your actual
initial Purchase Payment of $90,000 (which qualifies for a sales charge of
4.50%). When you purchase your contract, a sales charge of 3.50% will be
applied against your $90,000 initial Purchase Payment, and once you make the
$10,000 additional Purchase Payment as indicated in your Letter of Intent,
another 3.50% sales charge will be applied against the $10,000 Purchase
Payment. If you do not make the amount of Purchase Payments stated in the
Letter of Intent during the thirteen month period, we will recalculate the
sales charge based on the actual amount of Purchase Payments we received in the
thirteen month period. If you owe us additional money, we will deduct this
amount proportionately from the fixed account and each Subaccount of your
Contract Value by the tenth business day of the fourteenth month from the
initial Purchase Payment. If you make a subsequent Purchase Payments into this
contract, we may also accept a Letter of Intent for another thirteen month
period. We reserve the right to discontinue this option at any time after
providing notice to you.

The sales charge will be waived for contracts purchased as part of a Fee-Based
Financial Plan.

Refer to the end of this section for Sales Charge Information for contracts
issued prior to February 8, 2010.

Account Fee

During the accumulation period, we will deduct an account fee of $20 or $50 for
contracts purchased as part of a Fee-Based Financial Plan on and after May 22,
2017, from the Contract Value on each contract anniversary to compensate us for
the administrative services provided to you; this account fee will also be
deducted from the Contract Value upon surrender. This fee may be lower in
certain states, if required, and will be waived after the fifteenth Contract
Year, unless you purchased your contract as part of a Fee-Based Financial Plan
on and after May 22, 2017. The account fee will be waived for any contract with
a Contract Value that is equal to or greater than $50,000 on the contract
anniversary (or date of surrender). There is no account fee on contracts issued
to Selling Group Individuals, or to individuals who purchased the contract as
part of a Fee-Based Financial Plan prior to May 22, 2017.

Rider Charges

A fee or expense may also be deducted in connection with any benefits added to
the contract by rider or endorsement. The deduction of a rider charge will be
noted on your quarterly statement.

Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) Charge. While this rider
is in effect, there is a charge for Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk). The current annual rider charge rate is 1.05% (0.2625%
quarterly) for the Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)
single life option and 1.25% (0.3125% quarterly) for the Lincoln Lifetime
IncomeSM Advantage 2.0 (Managed Risk) joint life option. The charge rate for
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) also applies to an older
version of this rider, Lincoln Lifetime IncomeSM Advantage 2.0, which is no
longer available for purchase.

The charge is based on the Income Base (initial Purchase Payment if purchased
at contract issue, or Contract Value at the time of election) as increased for
subsequent Gross Purchase Payments, Automatic Annual Step-ups, and 5%
Enhancements, and decreased for Excess Withdrawals. We will deduct the cost of
this rider from the Contract Value on a quarterly basis, with the first
deduction

39
<PAGE>

occurring on the Valuation Date on or next following the three-month
anniversary of the rider's effective date. This deduction will be made in
proportion to the value in each Subaccount and any fixed account of the
contract on the Valuation Date the rider charge is assessed. The amount we
deduct will increase or decrease as the Income Base increases or decreases,
because the charge is based on the Income Base. Refer to Living Benefit Riders
- Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) - Income Base for a
discussion and example of the impact of the changes to the Income Base.

Since the Automatic Annual Step-up could increase your Income Base every
Benefit Year (if all conditions are met), the charge rate could also increase
every Benefit Year, but the rate will never exceed the guaranteed maximum
annual charge rate of 2.00%. If your charge rate is increased, you may opt out
of the Automatic Annual Step-up by giving us notice within 30 days after the
Benefit Year anniversary if you do not want your rate to change. If you opt out
of the step-up, the charge rate and the Income Base will return to the value
they were immediately prior to the step-up, adjusted for additional Purchase
Payments or Excess Withdrawals. This opt-out will only apply for this
particular Automatic Annual Step-up. You will need to notify us each time the
charge rate increases if you want to opt out of subsequent Automatic Annual
Step-ups.

The 5% Enhancement to the Income Base (less Purchase Payments received in the
preceding Benefit Year) occurs if a 10-year Enhancement Period is in effect as
described further in the Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)
section. During the first ten Benefit Years, an increase in the Income Base as
a result of the 5% Enhancement will not cause an increase in the annual rider
charge rate but will increase the dollar amount of the charge. After the tenth
Benefit Year anniversary, the annual rider charge rate may increase each time
the Income Base increases as a result of the 5% Enhancement, but the charge
rate will never exceed the guaranteed maximum annual charge rate of 2.00%. If
your charge rate is increased, you may opt out of the 5% Enhancement by giving
us notice within 30 days after the Benefit Year anniversary if you do not want
your charge rate to change. If you opt out of the 5% Enhancement, the charge
rate and the Income Base will return to the value they were immediately prior
to the 5% Enhancement, adjusted for additional Purchase Payments or Excess
Withdrawals, if any. This opt-out will only apply for this particular 5%
Enhancement. You will need to notify us each time thereafter (if an enhancement
would cause your charge rate to increase) if you do not want the 5%
Enhancement.

The annual rider charge rate will increase to the then current rider charge
rate not to exceed the guaranteed maximum annual charge rate, if after the
first Benefit Year anniversary cumulative Purchase Payments added to the
contract equal or exceed $100,000. You may not opt out of this rider charge
rate increase. See Living Benefit Riders - Lincoln Lifetime IncomeSM Advantage
2.0 (Managed Risk) - Income Base.

The rider charge will be discontinued upon termination of the rider. A portion
of the rider charge, based on the number of days the rider was in effect that
quarter, will be deducted upon termination of the rider (except for death) or
surrender of the contract, or the election of an Annuity Payout option,
including i4LIFE (Reg. TM) Advantage.

If the Contract Value is reduced to zero, no further rider charge will be
deducted.

Lincoln Market Select (Reg. TM) Advantage Charge. While this rider is in
effect, there is a charge for Lincoln Market Select (Reg. TM) Advantage which
is deducted quarterly. The current initial annual rider charge rate is 1.25%
(0.3125% quarterly) for the single life option and 1.50% (0.3750% quarterly)
for the joint life option.

The charge is based on the Income Base (initial Purchase Payment if purchased
at contract issue, or Contract Value at the time of election) as increased for
subsequent Purchase Payments, 5% Enhancements and Automatic Annual Step-ups,
and as decreased for Excess Withdrawals. We will deduct the charge for this
rider from the Contract Value on a quarterly basis, with the first deduction
occurring on the Valuation Date on or next following the three-month
anniversary of the rider's effective date. This deduction will be made in
proportion to the value in each Subaccount and any fixed account of the
contract on the Valuation Date the rider charge is assessed. The amount we
deduct will increase or decrease as the Income Base increases or decreases
because the charge is based on the Income Base.

Since the Automatic Annual Step-up could increase your Income Base every
Benefit Year (if all conditions are met), the charge rate could also increase
every Benefit Year, but the rate will never exceed the guaranteed maximum
annual charge rate of 2.25% (2.45% joint life option). If your charge rate is
increased, you may opt out of the Automatic Annual Step-up by giving us notice
within 30 days after the Benefit Year anniversary if you do not want your rate
to change. If you opt out of the step-up, the charge rate and the Income Base
will return to the value they were prior to the step-up, adjusted for
additional Purchase Payments or Excess Withdrawals, if any. This opt-out will
only apply for this particular Automatic Annual Step-up. You will need to
notify us each time the charge rate increases if you want to opt out of
subsequent Automatic Annual Step-ups.

The annual rider charge rate will increase to the then current rider charge
rate not to exceed the guaranteed maximum annual charge rate, if after the
first Benefit Year anniversary cumulative Purchase Payments added to the
contract equal or exceed $100,000. You may not opt-out of this rider charge
rate increase. See Living Benefit Riders - Lincoln Market Select (Reg. TM)
Advantage- Income Base.

The rider charge will be discontinued upon the termination of the rider. A
portion of the rider charge, based on the number of days the rider was in
effect that quarter, will be deducted upon termination of the rider (except for
death), surrender of the contract, or the election of the Annuity Payout
option, including i4LIFE (Reg. TM) Advantage.

40
<PAGE>

If the Contract Value is reduced to zero while the Contractowner is receiving
the Guaranteed Annual Income, no further rider charge will be deducted.

Lincoln Max 6 SelectSM Advantage Charge. While this rider is in effect, there
is a charge for Lincoln Max 6 SelectSM Advantage which is deducted quarterly.
The current initial annual rider charge rate is 1.25% (0.3125% quarterly) for
the single life option and 1.50% (0.3750% quarterly) for the joint life option.

The charge is based on the Income Base (initial Purchase Payment) as increased
for subsequent Purchase Payments, Automatic Annual Step-ups and 6%
Enhancements, and as decreased for Excess Withdrawals. We will deduct the
charge for this rider from the Contract Value on a quarterly basis, with the
first deduction occurring on the Valuation Date on or next following the
three-month anniversary of the rider's effective date. This deduction will be
made in proportion to the value in each Subaccount and any fixed account of the
contract on the Valuation Date the rider charge is assessed. The amount we
deduct will increase or decrease as the Income Base increases or decreases
because the charge is based on the Income Base.

Since the Automatic Annual Step-up could increase your Income Base and
Enhancement Base every Benefit Year (if all conditions are met), the charge
rate could also increase every Benefit Year, but the rate will never exceed the
guaranteed maximum annual charge rate of 2.25% (2.45% joint life option). If
your charge rate is increased, you may opt out of the Automatic Annual Step-up
by giving us notice within 30 days after the Benefit Year anniversary if you do
not want your rate to change. If you opt out of the step-up, the charge rate
and the Income Base and Enhancement Base will return to the value they were
immediately prior to the step-up, adjusted for additional Purchase Payments or
Excess Withdrawals, if any. This opt-out will only apply for this particular
Automatic Annual Step-up. You will need to notify us each time the charge rate
increases if you want to opt out of subsequent Automatic Annual Step-ups.

The annual rider charge rate will increase to the then current rider charge
rate not to exceed the guaranteed maximum annual charge rate, if after the
first Benefit Year anniversary cumulative Purchase Payments added to the
contract equal or exceed $100,000. You may not opt-out of this rider charge
rate increase. See Living Benefit Riders - Lincoln Max 6 SelectSM Advantage -
Income Base.

The rider charge will be discontinued upon the termination of the rider. A
portion of the rider charge, based on the number of days the rider was in
effect that quarter, will be deducted upon termination of the rider (except for
death), surrender of the contract, or the election of an Annuity Payout option,
including i4LIFE (Reg. TM) Advantage.

If the Contract Value is reduced to zero, no further rider charge will be
deducted.

4LATER (Reg. TM) Select Advantage Charge. While this rider is in effect, there
is a charge for 4LATER (Reg. TM) Select Advantage which is deducted quarterly.
The current initial annual rider charge rate is 1.25% (0.3125% quarterly) for
the single life option and 1.50% (0.3750% quarterly) for the joint life option.

The charge is based on the Income Base (initial Purchase Payment if purchased
at contract issue, or Contract Value at the time of election) as increased by
subsequent Purchase Payments, 5% Enhancements, and Automatic Annual Step-ups,
and as decreased for withdrawals. We will deduct the charge for this rider from
the Contract Value on a quarterly basis, with the first deduction occurring on
the Valuation Date on or next following the three-month anniversary of the
rider's effective date. This deduction will be made in proportion to the value
in each Subaccount and any fixed account of the contract on the Valuation Date
the rider charge is assessed. The amount we deduct will increase or decrease as
the Income Base increases or decreases because the charge is based on the
Income Base.

Since the Automatic Annual Step-up could increase your Income Base every
Benefit Year (if all conditions are met), the charge rate could also increase
every Benefit Year, but the rate will never exceed the guaranteed maximum
annual charge rate of 2.25% (2.45% joint life option). If your charge rate is
increased, you may opt out of the Automatic Annual Step-up by giving us notice
within 30 days after the Benefit Year anniversary if you do not want your rate
to change. If you opt out of the step-up, the charge rate and the Income Base
will return to the value they were immediately prior to the step-up, adjusted
for additional Purchase Payments or withdrawals, if any. This opt-out will only
apply for this particular Automatic Annual Step-up. You will need to notify us
each time the charge rate increases if you want to opt out of the subsequent
Automatic Annual Step-ups.

The annual rider charge rate will increase to the then current rider charge
rate not to exceed the guaranteed maximum annual charge rate, if after the
first Benefit Year anniversary cumulative Purchase Payments added to the
contract equal or exceed $100,000. You may not opt-out of this rider charge
rate increase. See the Living Benefit Riders - 4LATER (Reg. TM) Select
Advantage - Income Base section of this prospectus for more information.

The rider charge will be discontinued upon the termination of the rider. A
portion of the rider charge, based on the number of days the rider was in
effect that quarter, will be deducted upon termination of the rider (except for
death), surrender of the contract, or the election of an Annuity Payout option,
including i4LIFE (Reg. TM) Advantage.

i4LIFE (Reg. TM) Advantage Charge. While this rider is in effect, there is a
daily charge for i4LIFE (Reg. TM) Advantage that is based on your Account
Value. The initial Account Value is your Contract Value on the Valuation Date
i4LIFE (Reg. TM) Advantage becomes effective (or your initial Purchase Payment
if i4LIFE (Reg. TM) Advantage is purchased at contract issue), less any
applicable premium taxes. During the Access Period, your Account Value on a
Valuation Date equals the total value of all of the Contractowner's
Accumulation Units plus the

41
<PAGE>

Contractowner's value in the fixed account, and will be reduced by Regular
Income Payments and Guaranteed Income Benefit payments made, as well as any
withdrawals.

The annual i4LIFE (Reg. TM) Advantage charge rate during the Access Period is:
1.15% for the i4LIFE (Reg. TM) Advantage Account Value Death Benefit; 1.20% for
the i4LIFE (Reg. TM) Advantage Guarantee of Principal Death Benefit; and 1.45%
for the i4LIFE (Reg. TM) Advantage EGMDB. For contracts purchased as part of a
Fee-Based Financial Plan (on and after May 22, 2017) the annual rate for the
i4LIFE (Reg. TM) Advantage charge is: 0.60% Account Value Death Benefit; 0.70%
Guarantee of Principal Death Benefit; and 0.95% EGMDB (1.00% Account Value
Death Benefit; 1.05% Guarantee of Principal Death Benefit; and 1.30% EGMDB
prior to May 22, 2017). During the Lifetime Income Period, the rate for all
Death Benefit options is 1.15%, or 0.60% for contracts purchased as part of a
Fee-Based Financial Plan on and after May 22, 2017 (1.00% prior to May 22,
2017). This rate consists of a mortality and expense risk charge, and an
administrative charge (charges for the Guaranteed Income Benefit are not
included and are listed below). These charge rates replace the Separate Account
Annual Expenses for the base contract. If i4LIFE (Reg. TM) Advantage is elected
at the issue of the contract i4LIFE (Reg. TM) Advantage and the charge will
begin on the contract's effective date. Otherwise, i4LIFE (Reg. TM) Advantage
and the charge will begin on the Periodic Income Commencement Date which is the
Valuation Date on which the Regular Income Payment is determined and the
beginning of the Access Period. Refer to the i4LIFE (Reg. TM) Advantage section
for explanations of the Account Value, the Access Period, the Lifetime Income
Period, and the Periodic Income Commencement Date. Purchasers of any version of
Lincoln Lifetime IncomeSM Advantage 2.0 , Lincoln Market Select (Reg. TM)
Advantage or 4LATER (Reg. TM) Advantage (Managed Risk) pay different charges
for i4LIFE (Reg. TM) Advantage. See i4LIFE (Reg. TM) Advantage Guaranteed
Income Benefit Charge for Contractowners who transition from a Prior Rider.

i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit Charge. Select Guaranteed
Income Benefit is subject to a current annual charge rate of 0.95% (1.15% for
joint life option) of the Account Value, which is added to the i4LIFE (Reg. TM)
Advantage charge for a total current charge rate of the Account Value, computed
daily as follows:

A-Share Contracts For Contracts Purchased as Part of a
Fee-Based Financial Plan
Prior to May 22, On and after May 22,
2017 2017
Single Joint Single Joint Single Joint
Life Life Life Life Life Life
Enhanced Guaranteed Minimum Death
Benefit (EGMDB) 2.40% 2.60% 2.25% 2.45% 1.90% 2.10%
Guarantee of Principal Death Benefit....... 2.15% 2.35% 2.00% 2.20% 1.65% 1.85%
Account Value Death Benefit................ 2.10% 2.30% 1.95% 2.15% 1.55% 1.75%

These charge rates replace the Separate Account Annual Expenses for the base
contract.

Guaranteed Income Benefit (Managed Risk) and Guaranteed Income Benefit (version
4) are each subject to a current annual charge rate of 0.65% (0.85% for the
joint life option) of the Account Value, which is added to the i4LIFE (Reg. TM)
Advantage charge rate for a total current charge rate of the Account Value,
computed daily as follows:

A-Share Contracts For Contracts Purchased as Part of a
Fee-Based Financial Plan
Prior to May 22, On and after May 22,
2017 2017
Single Joint Single Joint Single Joint
Life Life Life Life Life Life
Enhanced Guaranteed Minimum Death
Benefit (EGMDB) 2.10% 2.30% 1.95% 2.15% 1.60% 1.80%
Guarantee of Principal Death Benefit....... 1.85% 2.05% 1.70% 1.90% 1.35% 1.55%
Account Value Death Benefit................ 1.80% 2.00% 1.65% 1.85% 1.25% 1.45%

These charge rates replace the Separate Account Annual Expenses for the base
contract.

Guaranteed Income Benefit (version 1, 2 and 3) are each subject to a current
annual charge rate of (0.50% for versions 1, 2 and 3 single and joint life
options) of the Account Value, which is added to the i4LIFE (Reg. TM) Advantage
charge rate for a total current charge rate of the Account Value, computed
daily as follows:

For Contract Purchased as
Part of a Fee-Based Financial Plan prior to
A-Share Contract May 22, 2017

42
<PAGE>

Single/Joint Single/Joint
Life Life
Enhanced Guaranteed Minimum Death Benefit (EGMDB)........ 1.95% 1.80%
Guarantee of Principal Death Benefit..................... 1.70% 1.55%
Account Value Death Benefit.............................. 1.65% 1.50%

These charge rates replace the Separate Account Annual Expenses for the base
contract.

The Guaranteed Income Benefit annual charge rate will not change unless there
is an automatic step-up of the Guaranteed Income Benefit or you elect an
additional step-up period (version 2 and version 3) during which the Guaranteed
Income Benefit is stepped-up to 75% of the current Regular Income Payment
(described later in the i4LIFE (Reg. TM) Advantage section of this prospectus).
At the time of the step-up, the Guaranteed Income Benefit charge rate will
change to the current charge rate in effect at that time (if the current charge
rate has changed) up to the guaranteed maximum Guaranteed Income Benefit charge
rate of 2.25% (2.45% joint life option) of the Account Value for Select
Guaranteed Income Benefit or 2.00% for Guaranteed Income Benefit Managed Risk
and version 4 or 1.50% for version 2 and version 3. If we automatically
administer the step-up for Select Guaranteed Income Benefit, Guaranteed Income
Benefit Managed Risk and version 4 or step-up period election (versions 2 or 3)
for you and your charge rate is increased, you may ask us to reverse the
step-up or the step-up period election by giving us notice within 30 days after
the date on which the step-up or the step-up period election occurred. If we
receive notice of your request to reverse the step-up, on a going forward
basis, we will decrease the charge rate to the charge rate in effect before the
step-up or the step-up period election occurred. Any increased charges paid
between the time of the step-up and the date we receive your notice to reverse
the step-up will not be reimbursed. For version 2 and version 3, you will have
no more step-ups unless you notify us that you wish to start a new step-up
period (described in the i4LIFE (Reg. TM) Advantage section of this
prospectus). For Select Guaranteed Income Benefit, Managed Risk and version 4,
future step-ups will continue even after you decline a current step-up. We will
provide you with written notice when a step-up will result in an increase to
the current charge rate so that you may give us timely notice if you wish to
reverse a step-up. Version 1 does not step-up; therefore the charge does not
change.

After the Periodic Income Commencement Date, if the Guaranteed Income Benefit
is terminated, the Guaranteed Income Benefit annual charge will also terminate,
but the i4LIFE (Reg. TM) Advantage charge will continue.

i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit Charge for Contractowners
who transition from a Prior Rider. If you have elected Lincoln Lifetime
IncomeSM Advantage 2.0 (Managed Risk), Lincoln Market Select (Reg. TM)
Advantage, 4LATER (Reg. TM) Select Advantage, 4LATER (Reg. TM) Advantage
(Managed Risk) or Lincoln Lifetime IncomeSM Advantage 2.0 ("Prior Rider"), you
may carry over certain features of that Prior Rider to transition to the
applicable version of i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit. If
you make this transition, your current charge rate of the Prior Rider will be
the initial charge rate for your i4LIFE (Reg. TM) Advantage Guaranteed Income
Benefit rider.

This section applies to all of the transitions listed in the following chart.
The charges and calculations described earlier in the i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit Charge section will not apply.

IF YOUR PRIOR RIDER IS... YOU WILL TRANSITION TO...

Lincoln Lifetime IncomeSM Advantage 2.0 (Managed i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit
Risk) (Managed Risk)
4LATER (Reg. TM) Advantage (Managed Risk) i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit
(Managed Risk)
Lincoln Market Select (Reg. TM) Advantage i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit
4LATER (Reg. TM) Select Advantage i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit

AND THE CURRENT INITIAL
CHARGE RATE FOR YOUR
GUARANTEED INCOME BEN-
IF YOUR PRIOR RIDER IS... EFIT RIDER IS-

Lincoln Lifetime IncomeSM Advantage 2.0 (Managed 1.05% (0.2625% quarterly)
Risk) single life option
1.25% (0.3125% quarterly)
joint life option
4LATER (Reg. TM) Advantage (Managed Risk) 1.05% (0.2625% quarterly)
single life option
1.25% (0.3125% quarterly)
joint life option
Lincoln Market Select (Reg. TM) Advantage 1.25% (0.3125% quarterly)
single life option
1.50% (0.3750% quarterly)
joint life option
4LATER (Reg. TM) Select Advantage 1.25% (0.3125% quarterly)
single life option
1.50% (0.3750% quarterly)
joint life option

43
<PAGE>

IF YOUR PRIOR RIDER IS... YOU WILL TRANSITION TO...

Lincoln Lifetime IncomeSM Advantage 2.0 i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit (version
4)

AND THE CURRENT INITIAL
CHARGE RATE FOR YOUR
IF YOUR PRIOR RIDER IS... GUARANTEED INCOME BEN-

Lincoln Lifetime IncomeSM Advantage 2.0 1.05% (0.2625% quarterly)
single life option
1.25% (0.3125% quarterly)
joint life option

The initial charge is a percentage of the greater of the Income Base from the
Prior Rider or the Account Value. The charge for i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit is deducted quarterly, starting with the first
three-month anniversary of the effective date of i4LIFE (Reg. TM) Advantage and
every three months thereafter. The total Separate Account Annual Expense charge
for the Death Benefit you have elected on your base contract also applies:
1.05% for the EGMDB, 0.80% for the Guarantee of Principal Death Benefit and
0.75% for the Account Value Death Benefit (0.55% for EGMDB; 0.30% for Guarantee
of Principal Death Benefit and 0.20% for Account Value Death Benefit for
contracts sold to a Fee-Based Financial Plan (on and after May 22, 2017) (0.90%
for EGMDB; 0.65% for Guarantee of Principal Death Benefit; and 0.60% for
Account Value Death Benefit prior to May 22, 2017). Contractowners are
guaranteed that in the future the guaranteed maximum charge rate for i4LIFE
(Reg. TM) Advantage Guaranteed Income Benefit will be the guaranteed maximum
charge rate that was in effect at the time they purchased the Prior Rider.

The charge will not change unless there is an automatic step-up of the
Guaranteed Income Benefit (described in the i4LIFE (Reg. TM) Advantage section
of this prospectus). At such time, the dollar amount of the charge will
increase by a two part formula: 1) the charge will increase by the same
percentage that the Guaranteed Income Benefit payment increased and 2) the
charge will also increase by the percentage of any increase to the Prior Rider
current charge rate. (The Prior Rider charge rate continues to be used as a
factor in determining the i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit
charge.) This means that the charge may change annually. The charge may also be
reduced if a withdrawal above the Regular Income Payment is taken. The dollar
amount of the rider charge will be reduced in the same proportion that the
withdrawal reduced the Account Value. The annual dollar amount is divided by
four (4) to determine the quarterly charge.

The following example is intended to show how the initial i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit charge for purchasers of a Prior Rider
could be calculated for a representative male Contractowner, as well as the
impact to the charge due to increases to the Guaranteed Income Benefit and the
Prior Rider charge rate. For illustration purposes, we will assume that the
example is a nonqualified contract and the initial Guaranteed Income Benefit is
set at 4% of the Income Base based upon the Contractowner's age (see Guaranteed
Income Benefit for a more detailed description). The example also assumes that
the current charge rate for the Prior Rider is 1.25% (single life option). The
first example demonstrates how the initial charge may be determined for an
existing contract with an Account Value and Income Base. This calculation
method applies to the purchase of any Prior Rider, except the initial
Guaranteed Income Benefit rates and charges may vary, as set forth in the
Guaranteed Income Benefit description later in this prospectus. The charges and
rates shown here may be different from those that apply to your contract. The
calculation of the charge for your contract will be based on the specific
factors applicable to your contract.

1/1/15 Initial i4LIFE (Reg. TM) Advantage Account Value................................... $ 100,000
1/1/15 Income Base as of the last Valuation Date under the Prior Rider.................... $ 125,000
1/1/15 Initial Annual Charge for i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit
($125,000 x 1.25%). The current charge
for the Prior Rider is assessed against the Income Base since it is larger than the $1,562.50
Account Value..........................................................................
1/2/15 Amount of initial i4LIFE (Reg. TM) Advantage Regular Income Payment (an example of
how the Regular Income Payment
is calculated is shown in the SAI)....................................................... $ 5,173
1/2/15 Initial Guaranteed Income Benefit (4% x $125,000 Income Base)...................... $ 5,000

The next example shows how the charge will increase if the Guaranteed Income
Benefit is stepped up to 75% of the Regular Income Payment.

1/2/16 Recalculated Regular Income Payment (due to market gain in Account Value).......... $ 6,900
1/2/16 New Guaranteed Income Benefit (75% x $6,900 Regular Income Payment)................ $ 5,175
1/2/16 Annual Charge for i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit ($1,562.50
x ($5,175/$5,000)) Prior charge x
[ratio of increased Guaranteed Income Benefit to prior Guaranteed Income Benefit]........ $1,617.19

Continuing the above example:

44
<PAGE>

1/2/16 Annual Charge for i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit............. $1,617.19
1/2/17 Recalculated Regular Income Payment (due to Account Value increase)................ $ 7,400
1/2/17 New Guaranteed Income Benefit (75% x $7,400 Regular Income Payment)................ $ 5,550
Assume the Prior Rider charge rate increases from 1.25% to 1.35%.
1/2/17 Annual Charge for i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit ($1,617.19
x ($5,550/$5,175) x
(1.35%/1.25%))........................................................................... $1,873.13

The new annual charge for i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit
is $1,873.13, which is equal to the current annual charge of $1,617.19
multiplied by the percentage increase of the Guaranteed Income Benefit
($5,550/$5,175) and then multiplied by the percentage increase to the Prior
Rider current charge rate (1.35%/1.25%).

If the charge rate of your Prior Rider is increased, we will notify you in
writing. You may contact us in writing or at the telephone number listed on the
first page of this prospectus to reverse the step-up within 30 days after the
date on which the step-up occurred. If we receive this notice, we will decrease
the charge rate, on a going forward basis, to the charge rate in effect before
the step-up occurred. Any increased charges paid between the time of the
step-up and the date we receive your notice to reverse the step-up will not be
reimbursed. If the Guaranteed Income Benefit increased due to the step-up we
would decrease the Guaranteed Income Benefit to the Guaranteed Income Benefit
in effect before the step-up occurred, reduced by any additional withdrawals.
Future step-ups as described in the rider would continue.

After the Periodic Income Commencement Date, if the Guaranteed Income Benefit
is terminated, i4LIFE (Reg. TM) Advantage will also be terminated and the
i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit charge will cease. A
portion of the i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit charge,
based on the number of days the rider was in effect that quarter, will be
deducted upon termination of the rider.

i4LIFE (Reg. TM) Advantage with 4LATER (Reg. TM) Guaranteed Income Benefit
Charge for Contractowners who transition from 4LATER (Reg. TM) Advantage. The
4LATER (Reg. TM) Guaranteed Income Benefit current annual rider charge rate for
purchasers who previously purchased 4LATER (Reg. TM) Advantage is 0.65% of the
Account Value, which is added to the i4LIFE (Reg. TM) Advantage charge rate for
a total current charge rate of the Account Value, computed daily as follows:
1.80% for the i4LIFE (Reg. TM) Advantage Account Value Death Benefit; 1.85% for
the i4LIFE (Reg. TM) Advantage Guarantee of Principal Death Benefit; and 2.10%
for the i4LIFE (Reg. TM) Advantage EGMDB. (For riders purchased before January
20, 2009, the current annual charge rate is 0.50%, but will increase to 0.65%
upon the next election to reset the Income Base.) These charges apply only
during the i4LIFE (Reg. TM) Advantage payout phase. For contracts purchased as
part of a Fee-Based Financial Plan, the total percentage charge is computed
daily as follows: 1.65% for the i4LIFE (Reg. TM) Advantage Account Value Death
Benefit; 1.70% for the i4LIFE (Reg. TM) Advantage Guarantee of Principal Death
Benefit; and 1.95% for the i4LIFE (Reg. TM) Advantage EGMDB.

On and after the Periodic Income Commencement Date, the 4LATER (Reg. TM)
Guaranteed Income Benefit charge will be added to the i4LIFE (Reg. TM)
Advantage charge rate as a daily percentage of average Account Value. This is a
change to the calculation of the 4LATER (Reg. TM) charge because after the
Periodic Income Commencement Date, when the 4LATER (Reg. TM) Guaranteed Income
Benefit is established, the Income Base is no longer applicable. The 4LATER
(Reg. TM) charge rate is the same immediately before and after the Periodic
Income Commencement Date; however, the charge is multiplied by the Income Base
(on a quarterly basis) prior to the Periodic Income Commencement Date and then
multiplied by the average daily Account Value after the Periodic Income
Commencement Date.

After the Periodic Income Commencement Date, the 4LATER (Reg. TM) Guaranteed
Income Benefit charge rate will not change unless the Contractowner elects
additional 15-year step-up periods during which the 4LATER (Reg. TM) Guaranteed
Income Benefit (described later) is stepped-up to 75% of the current Regular
Income Payment. At the time of a reset of the 15-year step-up period, the
4LATER (Reg. TM) Guaranteed Income Benefit charge rate will change to the
current charge rate in effect at that time (if the current charge rate has
changed) up to the guaranteed maximum annual charge rate of 1.50% of Account
Value. After we administer this election, you have 30 days to notify us if you
wish to reverse the election (because you do not wish to incur the additional
cost). If we receive this notice, we will decrease the charge rate, on a going
forward basis, to the charge rate in effect before the step-up occurred.

After the Periodic Income Commencement Date, if the 4LATER (Reg. TM) Guaranteed
Income Benefit is terminated, the 4LATER (Reg. TM) Guaranteed Income Benefit
annual charge will also terminate but the i4LIFE (Reg. TM) Advantage charge
will continue.

Guaranteed Income Benefit Charge for Lincoln Lifetime IncomeSM Advantage
purchasers. For purchasers of Lincoln Lifetime IncomeSM Advantage who terminate
their rider and purchase i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit
(version 2 or 3), the Guaranteed Income Benefit which is purchased with i4LIFE
(Reg. TM) Advantage is subject to a current annual charge rate of 0.50% of the
Account Value, which is added to the i4LIFE (Reg. TM)Advantage charge rate for
a total current charge rate of the Account Value, computed daily as follows:
1.65% for the i4LIFE (Reg. TM) Advantage Account Value Death Benefit; 1.70% for
the i4LIFE (Reg. TM) Advantage Guarantee of Principal Death Benefit; and 1.95%
for the i4LIFE (Reg. TM) Advantage EGMDB.

For contracts purchased as part of a Fee-Based Financial Plan, the total
percentage charge is computed daily as follows: 1.50% for the i4LIFE (Reg. TM)
Advantage Account Value Death Benefit; 1.55% for the i4LIFE (Reg. TM) Advantage
Guarantee of Principal Death Benefit; and 1.80% for the i4LIFE (Reg. TM)
Advantage EGMDB.

45
<PAGE>

Purchasers of Lincoln Lifetime IncomeSM Advantage are guaranteed that in the
future the guaranteed maximum charge for the Guaranteed Income Benefit will be
the guaranteed maximum charge then in effect at the time that they purchase
Lincoln Lifetime IncomeSM Advantage.

The Guaranteed Income Benefit charge rate will not change unless you elect an
additional step-up period during which the Guaranteed Income Benefit is
stepped-up to 75% of the current Regular Income Payment (described later). At
the time you elect a new step-up period, the charge rate will change to the
current charge rate in effect at that time (if the current charge rate has
changed) up to the guaranteed maximum annual charge rate of 1.50% of the
Account Value. If we automatically administer the step-up period election for
you and your charge rate is increased, you may ask us to reverse the step-up
period election by giving us notice within 30 days after the date on which the
step-up period election occurred. If we receive this notice, we will decrease
the charge rate, on a going forward basis, to the charge rate in effect before
the step-up period election occurred. Any increased charges paid between the
time of the step-up and the date we receive your notice to reverse the step-up
will not be reimbursed. You will have no more step-ups unless you notify us
that you wish to start a new step-up period (described later in the i4LIFE
(Reg. TM) Advantage section of this prospectus).

After the Periodic Income Commencement Date, if the Guaranteed Income Benefit
is terminated, the Guaranteed Income Benefit annual charge will also terminate
but the i4LIFE (Reg. TM) Advantage charge will continue.

Lincoln Long-Term CareSM Advantage (LTC Rider) Charge. While the LTC rider is
in effect, there is a charge for the LTC Rider ("LTC Charge") that is deducted
from the Contract Value on a quarterly basis. The LTC Charge will consist of
the sum of three charges:
o the Acceleration Benefit Charge,
o the Extension Benefit Charge, and
o the Optional Nonforfeiture Benefit Charge (if elected).

The first deduction will occur on the business day on or next following the
three-month contract anniversary and will be deducted every three months
thereafter. This deduction will be made proportionately from the Contract Value
in the Subaccounts, the fixed account for use with dollar-cost averaging and
the LTC Fixed Account until the Contract Value is reduced to zero. Deductions
from the Subaccounts and the fixed accounts will be made in proportion to the
value in each Subaccount and fixed account. A proportional LTC Charge will be
deducted upon termination of the LTC Rider, upon commencement of Annuity
Payouts and upon contract surrender. A proportional LTC Charge will not be
deducted if the LTC Rider is terminated due to death.

Acceleration Benefit Charge

The Acceleration Benefit Charge has a guaranteed maximum annual charge rate of
1.50% of the LTC Guaranteed Amount. The current annual charge rate is 0.50% of
the LTC Guaranteed Amount under the Growth Benefit option and 0.35% of the LTC
Guaranteed Amount under the Level Benefit option. The annual charge rate may
change at any time and will never exceed the guaranteed maximum annual charge
rate of 1.50% of the LTC Guaranteed Amount. We will give you 30 days written
notice of our intent to raise the current annual charge rate. Any increase to
the annual charge rate will be applied on the next quarterly deduction
following the effective date of the annual charge rate change. Any change to
the annual charge rate will be the same for all Contractowners in the same
class on a nondiscriminatory manner. The Acceleration Benefit Charge annual
charge rate for the Growth Benefit option will not change to the annual charge
rate for the Level Benefit after you terminate the automatic step-ups.

The LTC Charge will be higher if you choose the Growth Benefit option because the
Acceleration Benefit Charge annual percentage
rate is higher for the Growth Benefit option than it is for the Level Benefit option and
the LTC Guaranteed Amount against which the
Acceleration Benefit Charge annual percentage rate is assessed may be higher due to
automatic step-ups.

The Acceleration Benefit Charge is calculated by multiplying the LTC Guaranteed
Amount as of the date on which the charge is deducted by 1/4 of the
Acceleration Benefit Charge annual charge rate. With the Level Benefit option,
the Acceleration Benefit Charge will decrease as the LTC Guaranteed Amount is
reduced by Acceleration Benefit payments or Excess Withdrawals. With the Growth
Benefit option, the Acceleration Benefit Charge will increase or decrease as
the LTC Guaranteed Amount increases by automatic step-ups or is reduced by
Acceleration Benefit payments, Growth Benefit payments or Excess Withdrawals.
The Acceleration Benefit Charge will be deducted until the LTC Guaranteed
Amount is reduced to zero or there is no Contract Value remaining, whichever
occurs first.

Extension Benefit Charge

The Extension Benefit Charge does not have a guaranteed maximum annual charge
rate and may change at any time. The current Extension Benefit Charge annual
charge rates range as set forth in the charts below. The initial Extension
Benefit Charge annual charge rate will be stated on the Specifications page of
your LTC Rider. We will give you 30 days written notice of our intent to raise
the current Extension Benefit Charge annual charge rate. Any increase to the
current Extension Benefit Charge annual charge rate will be applied on the next
quarterly deduction following the effective date of the annual charge rate
change. Any change to the current Extension Benefit Charge annual charge rate
will be subject to prior regulatory approval and will be the same for all
Contractowners in the same class on a nondiscriminatory manner. If the current
Extension Benefit Charge annual charge rate is increased to an amount greater
than a specified percentage of the initial current Extension Benefit Charge
annual charge rate, you may cancel the LTC Rider and receive the Contingent
Nonforfeiture Benefit. See Determining LTC Benefits - Nonforfeiture Benefit for
more information.

46
<PAGE>

Extension Benefit Charge: 50%
Benefit for Assisted Living
Services
States: AK, AL, AR, AZ, DC, DE,
GA, IA, KY, LA, MD, ME, MI, MO,
MS,
MT, NC, ND, NE, NM, OK, OR, RI,
SC, SD, WV, WY
Age on Extension
Contract Date Benefit Charge

45-49 0.26%
50-54 0.30%
55-59 0.32%
60-64 0.38%
65-69 0.50%
70-74 0.68%

Extension Benefit Charge: 100%
Benefit for Assisted Living
Services
All other states
Age on Extension
Contract Date Benefit Charge

45-49 0.28%
50-54 0.32%
55-59 0.36%
60-64 0.40%
65-69 0.54%
70-74 0.76%

The Extension Benefit Charge is calculated by multiplying the Extension Benefit
as of the date on which the charge is deducted multiplied by 1/4 of the
Extension Benefit Charge annual charge rate as of the date on which the charge
is deducted. On the contract date, the Extension Benefit will be double the
Acceleration Benefit. The Extension Benefit Charge will increase as the
Extension Benefit increases due to Gross Purchase Payments made within the
first 90 days. The Extension Benefit Charge will decrease as the Extension
Benefit is reduced by Extension Benefit payments or Excess Withdrawals. The
Extension Benefit Charge will be deducted until the Extension Benefit is
reduced to zero or there is no Contract Value remaining, whichever occurs
first. The Extension Benefit Charge annual charge rate is based upon your age
as of the contract date.

Optional Nonforfeiture Benefit Charge

The Optional Nonforfeiture Benefit Charge does not have a guaranteed maximum
annual charge rate and may change at any time. The current Optional
Nonforfeiture Benefit Charge annual charge rates range as set forth in the
charts below. The initial Optional Nonforfeiture Benefit Charge annual charge
rate will be stated on the specification pages of your LTC Rider. We will give
you 30 days written notice of our intent to raise the current Optional
Nonforfeiture Benefit Charge annual charge rate. Any increase to the current
Optional Nonforfeiture Benefit Charge annual charge rate will be applied on the
next quarterly deduction following the effective date of the annual charge rate
change. Any change to the current Optional Nonforfeiture Benefit Charge annual
charge rate will be subject to prior regulatory approval and will be the same
for all Contractowners in the same class on a nondiscriminatory manner. If the
current Optional Nonforfeiture Benefit Charge annual charge rate is increased
to an amount greater than a specified percentage of the initial current
Optional Nonforfeiture Benefit Charge annual charge rate, you may cancel the
LTC Rider and receive the Contingent Nonforfeiture Benefit. See Determining LTC
Benefits - Nonforfeiture Benefit for more information.

Optional Nonforfeiture Benefit Charge:
50% Benefit for Assisted Living Services
States: AK, AL, AR, AZ, DC, DE, GA, IA, KY, LA, MD, ME, MI, MO, MS,
MT, NC, ND, NE, NM, OK, OR, RI, SC, SD, WV, WY
Age on Optional Nonforfeiture
Contract Date Benefit Charge

45-49 0.04%
50-54 0.05%
55-59 0.05%
60-64 0.06%
65-69 0.08%
70-74 0.11%

Optional Nonforfeiture Benefit Charge:
100% Benefit for Assisted Living Services
Age on Optional Nonforfeiture
Contract Date Benefit Charge
Texas California All other states

45-49 0.06% 0.06% 0.05%
50-54 0.06% 0.06% 0.05%
55-59 0.07% 0.07% 0.06%
60-64 0.07% 0.07% 0.06%
65-69 0.10% 0.10% 0.09%
70-74 0.14% 0.13% 0.12%

The Optional Nonforfeiture Benefit Charge is calculated by multiplying the
Extension Benefit as of the date on which the charge is deducted multiplied by
1/4 of the Optional Nonforfeiture Benefit Charge annual charge rate as of the
date on which the charge is deducted. On the contract date, the Extension
Benefit will be double the Acceleration Benefit. The Optional Nonforfeiture
Benefit Charge will increase as the Extension Benefit increases due to Gross
Purchase Payments made within the first 90 days after the contract date. The
Optional Nonforfeiture Benefit Charge will decrease as the Extension Benefit is
reduced by Extension Benefit payments or Excess Withdrawals. The Optional
Nonforfeiture Benefit Charge will be deducted until the Extension Benefit is
reduced to zero or there is no Contract Value remaining, whichever occurs
first. The Optional Nonforfeiture Benefit Charge annual charge rate is based
upon your age as of the contract date.

Example: The following example illustrates the calculation of the LTC Benefit Charge for a
60 year old who lives in Georgia. The
example assumes the Level Benefit option and the Optional Nonforfeiture Benefit have been
chosen.
Acceleration Benefit: $100,000
LTC Guaranteed Amount: $100,000
Extension Benefit: $200,000

47
<PAGE>

Acceleration Benefit Charge Annual Charge Rate:
Extension Benefit Charge Annual Charge Rate:
Optional Nonforfeiture Benefit Charge Annual Charge Rate:
LTC Charge (Annual)*:

* $350 Acceleration Benefit Charge (0.35% x $100,000 LTC Guaranteed
Amount) + $760 Extension Benefit
Charge (0.38% x $200,000 Extension Benefit) + $120 Optional
Nonforfeiture Charge (0.06% x $200,000
Extension Benefit) = $1,230 annual LTC Charge

Acceleration Benefit Charge Annual Charge Rate: 0.35%
Extension Benefit Charge Annual Charge Rate: 0.38%
Optional Nonforfeiture Benefit Charge Annual Charge Rate: 0.06%
LTC Charge (Annual)*: $1,230

Example: The following example illustrates the calculation of the LTC Benefit Charge for
a 60 year old who lives in Georgia.
The
example assumes the Growth Benefit option and the Optional Nonforfeiture Benefit have
been
chosen.
Acceleration Benefit:
LTC Guaranteed Amount:
Extension Benefit:
Growth Benefit:
Acceleration Benefit Charge Annual Charge Rate:
Extension Benefit Charge Annual Charge Rate:
Optional Nonforfeiture Benefit Charge Annual Charge Rate:
LTC Charge (Annual)*:

*$500 Acceleration Benefit Charge
(0.50% x $100,000 LTC Guaranteed
Amount) + $760 Extension Benefit
Charge (0.38% x $200,000 Extension
Benefit) + $120 Optional
Nonforfeiture Benefit Charge (0.06%
x
$200,000 Extension Benefit)= $1,380
annual LTC Charge

Example: The following example illustrates the calculation of the LTC Benefit Charge for a 60 year old
who lives in Georgia. The
example assumes the Growth Benefit option and the Optional Nonforfeiture Benefit have been chosen.
Acceleration Benefit: $100,000
LTC Guaranteed Amount: $100,000
Extension Benefit: $200,000
Growth Benefit: $ 0
Acceleration Benefit Charge Annual Charge Rate: 0.50%
Extension Benefit Charge Annual Charge Rate: 0.38%
Optional Nonforfeiture Benefit Charge Annual Charge Rate: 0.06%
LTC Charge (Annual)*: $ 1,380

Lincoln Lifetime IncomeSM Advantage Charge (This rider is no longer available).
While this rider is in effect, there is a charge for Lincoln Lifetime IncomeSM
Advantage. The current annual rider charge rate is 0.90% of the Guaranteed
Amount (0.225% quarterly) for the Lincoln Lifetime IncomeSM Advantage single
life or joint life option. For riders purchased before January 20, 2009, the
current annual charge rate will increase from 0.75% to 0.90% upon the earlier
of (a) the next Automatic Annual Step-up of the Guaranteed Amount or (b) the
next Benefit Year anniversary if cumulative Purchase Payments received after
the first Benefit Year anniversary equal or exceed $100,000. If the Lincoln
Lifetime IncomeSM Advantage Plus is purchased, an additional 0.15% is added,
for a total current cost of 1.05% of the Guaranteed Amount. See Appendix D -
Lincoln Lifetime IncomeSM Advantage - Guaranteed Amount for a description of
the calculation of the Guaranteed Amount.

The charge is based on the Guaranteed Amount as increased for subsequent Gross
Purchase Payments, Automatic Annual Step-ups, 5% Enhancements, and the 200%
step-up and decreased for withdrawals. The 200% step-up is not available for
riders purchased on and after October 5, 2009. We will deduct the cost of this
rider from the Contract Value on a quarterly basis, with the first deduction
occurring on the Valuation Date on or next following the three-month
anniversary of the effective date of the rider. This deduction will be made in
proportion to the value in each Subaccount of the contract on the Valuation
Date the rider charge is assessed. For riders purchased on and after March 2,
2009, the charge is also deducted in proportion to the value in the fixed
account used for dollar cost averaging purposes. The amount we deduct will
increase or decrease as the Guaranteed Amount increases or decreases, because
the charge is based on the Guaranteed Amount. Refer to Appendix D - Lincoln
Lifetime IncomeSM Advantage - Guaranteed Amount for a discussion and example of
the impact of the changes to the Guaranteed Amount.

Since the Automatic Annual Step-up could increase your Guaranteed Amount every
Benefit Year (if all conditions are met), the charge rate could also increase
every Benefit Year, but the rate will never exceed the guaranteed maximum
annual charge rate of 1.50%. If your charge rate is increased, you may opt out
of the Automatic Annual Step-up by giving us notice within 30 days after the
Benefit Year anniversary if you do not want your rate to change. If you opt out
of the step-up, the charge rate and the Guaranteed Amount will return to the
value they were immediately prior to the step-up, adjusted for additional
Purchase Payments or Excess Withdrawals, if any. This opt-out will only apply
for this particular Automatic Annual Step-up and is not available if additional
Purchase Payments would cause your charge to increase. You will need to notify
us each time the charge rate increases if you want to opt out of subsequent
Automatic Annual Step-ups.

An increase in the Guaranteed Amount as a result of the 5% Enhancement or 200%
step-up will not cause an increase in the annual rider charge rate but will
increase the dollar amount of the charge.

Once cumulative additional Purchase Payments into your annuity contract after
the first Benefit Year equal or exceed $100,000, any additional Gross Purchase
Payment will cause the charge rate for your rider to change to the current
charge rate in effect on the next Benefit Year anniversary, but the charge rate
will never exceed the guaranteed maximum annual charge rate. The new charge
rate will become effective on the Benefit Year anniversary.

48
<PAGE>

If the Guaranteed Amount is reduced to zero while the Contractowner is
receiving a lifetime Maximum Annual Withdrawal, no rider charge will be
deducted.

If you purchased Lincoln Lifetime IncomeSM Advantage Plus Option, an additional
0.15% of the Guaranteed Amount will be added to the Lincoln Lifetime IncomeSM
Advantage charge for a total current charge rate of 1.05% applied to the
Guaranteed Amount. This total charge rate (which may change as discussed above)
is in effect until the seventh Benefit Year anniversary. If you exercise your
Plus Option, this entire rider and its charge will terminate. If you do not
exercise the Plus Option, after the seventh Benefit Year anniversary, the 0.15%
charge for the Plus Option will be removed and the Lincoln Lifetime IncomeSM
Advantage rider and charge will continue. If you make a withdrawal prior to the
seventh Benefit Year anniversary, you will not be able to exercise the Plus
Option, but the additional 0.15% charge will remain on your contract until the
seventh Benefit Year anniversary.

4LATER (Reg. TM) Advantage (Managed Risk) Charge (This rider is no longer
available). While this rider is in effect, there is a charge for 4LATER (Reg.
TM) Advantage (Managed Risk). The current annual rider charge rate is 1.05%
(0.2625% quarterly) for the single life option and 1.25% (0.3125% quarterly)
for the joint life option.

The charge is based on the Income Base (initial Purchase Payment if purchased
at contract issue, or Contract Value at the time of election) as increased for
subsequent Purchase Payments, Automatic Annual Step-ups and 5% Enhancements and
decreased for withdrawals. We will deduct the cost of this rider from the
Contract Value on a quarterly basis, with the first deduction occurring on the
Valuation Date on or next following the three-month anniversary of the rider's
effective date. This deduction will be made in proportion to the value in each
Subaccount and any fixed account of the contract on the Valuation Date the
rider charge is assessed. The amount we deduct will increase or decrease as the
Income Base increases or decreases, because the charge is based on the Income
Base. Refer to Appendix D - 4LATER (Reg. TM) Advantage (Managed Risk) - Income
Base for a discussion and example of the impact of the changes to the Income
Base.

The annual charge rate may increase each time the Income Base increases as a
result of the Automatic Annual Step-up, but the rate will never exceed the
guaranteed maximum annual charge rate of 2.00%. An Automatic Annual Step-up is
a feature that will increase the Income Base to equal the Contract Value on a
Benefit Year anniversary if all conditions are met. The Benefit Year is a
12-month period starting with the effective date of the rider and starting with
each anniversary of the rider effective date after that. Therefore, your charge
rate could increase every Benefit Year anniversary up to the stated maximum. If
your charge rate is increased, you may opt out of the Automatic Annual Step-up
by giving us notice within 30 days after the Benefit Year anniversary if you do
not want your charge rate to change. If you opt out of the step-up, the charge
rate and the Income Base will return to the value they were immediately prior
to the step-up, adjusted for additional Purchase Payments or withdrawals, if
any. This opt-out will only apply for this particular Automatic Annual Step-up.
You will need to notify us each time the charge rate increases if you do not
want the Automatic Annual Step-up.

The 5% Enhancement to the Income Base (less Purchase Payments received in the
preceding Benefit Year) occurs if a 10-year Enhancement Period is in effect as
described further in the 4LATER (Reg. TM) Advantage (Managed Risk) section.
During the first ten Benefit Years an increase in the Income Base as a result
of the 5% Enhancement will not cause an increase in the annual rider charge
rate but will increase the dollar amount of the charge. After the tenth Benefit
Year anniversary the charge rate may increase each time the Income Base
increases as a result of the 5% Enhancement, but the charge rate will never
exceed the guaranteed maximum annual charge rate of 2.00%. If your charge rate
is increased, you may opt-out of the 5% Enhancement by giving us notice within
30 days after the Benefit Year anniversary if you do not want your charge rate
to change. If you opt out of the 5% Enhancement, the charge rate and the Income
Base will return to the value they were immediately prior to the 5%
Enhancement, adjusted for additional Purchase Payments or withdrawals, if any.
This opt-out will only apply for this particular 5% Enhancement. You will need
to notify us each time thereafter (if an enhancement would cause your charge
rate to increase) if you do not want the 5% Enhancement.

The charge rate will increase to the then current annual charge rate, if after
the first Benefit Year anniversary, cumulative Purchase Payments added to the
contract equal or exceed $100,000. You may not opt-out of this rider charge
increase. See Appendix D - 4LATER (Reg. TM) Advantage (Managed Risk) - Income
Base.

Lincoln SmartSecurity (Reg. TM) Advantage Charge (This rider is no longer
available). While this rider is in effect, there is a charge for Lincoln
SmartSecurity (Reg. TM) Advantage. The current annual charge rate is:

1. 0.85% of the Guaranteed Amount (0.2125% quarterly) for Lincoln SmartSecurity
(Reg. TM) Advantage - 5 Year Elective Step-up option (the current annual
charge rate will increase to 0.85% upon the next election of a step-up of
the Guaranteed Amount); or

2. 0.85% of the Guaranteed Amount (0.2125% quarterly) for Lincoln SmartSecurity
(Reg. TM) Advantage - 1 Year Automatic Step-up, single life option (and also
the prior version of Lincoln SmartSecurity (Reg. TM) Advantage - 1 Year
Automatic Step-up) (for riders purchased

49
<PAGE>

prior to December 3, 2012, the current annual charge rate will increase from
0.65% to 0.85% at the end of the 10-year annual step-up period if a new
10-year period is elected); or

3. 1.00% of the Guaranteed Amount (0.25% quarterly) for Lincoln SmartSecurity
(Reg. TM) Advantage - 1 Year Automatic Step-up, joint life option (for
riders purchased prior to December 3, 2012, the current annual charge rate
will increase from 0.80% to 1.00% at the end of the 10-year annual step-up
period if a new 10-year period is elected). See Appendix D - Lincoln
SmartSecurity (Reg. TM) Advantage - Guaranteed Amount for a description of
the calculation of the Guaranteed Amount.

The charge is based on the Guaranteed Amount (initial Purchase Payment if
purchased at contract issue, or Contract Value at the time of election) as
increased for subsequent Purchase Payments and step-ups and decreased for
withdrawals. We will deduct the cost of this rider from the Contract Value on a
quarterly basis, with the first deduction occurring on the Valuation Date on or
next following the three-month anniversary of the effective date of the rider.
This deduction will be made in proportion to the value in each Subaccount and
any fixed account of the contract on the Valuation Date the rider charge is
assessed. In Lincoln SmartSecurity (Reg. TM) Advantage - 5 Year Elective
Step-up option and the Lincoln SmartSecurity (Reg. TM) Advantage - 1 Year
Automatic Step-up (without the single or joint life option), the charge may be
deducted in proportion to the value in the fixed account as well. The amount we
deduct will increase or decrease as the Guaranteed Amount increases or
decreases, because the charge is based on the Guaranteed Amount. Refer to
Appendix D - Lincoln SmartSecurity (Reg. TM) Advantage - Guaranteed Amount for
a discussion and example of the impact of changes to the Guaranteed Amount.

Under the Lincoln SmartSecurity (Reg. TM) Advantage - 1 Year Automatic Step-up
option, the Guaranteed Amount will automatically step-up to the Contract Value
on each Benefit Year anniversary up to and including the 10th Benefit Year if
conditions are met as described in the Lincoln SmartSecurity (Reg. TM)
Advantage section. Additional 10-year periods of step-ups may be elected. The
annual rider charge rate will not change upon each automatic step-up of the
Guaranteed Amount within the 10-year period.

If you elect to step-up the Guaranteed Amount for another 10-year step-up
period (including if we administer the step-up election for you or if you make
a change from a joint life to a single life option after a death or divorce), a
portion of the rider charge, based on the number of days prior to the step-up,
will be deducted on the Valuation Date of the step-up based on the Guaranteed
Amount immediately prior to the step-up. This deduction covers the cost of the
rider from the time of the previous deduction to the date of the step-up. After
a Contractowner's step-up, we will deduct the rider charge for the stepped-up
Guaranteed Amount on a quarterly basis, beginning on the Valuation Date on or
next following the three-month anniversary of the step-up. At the time of the
elected step-up, the rider charge rate will change to the current charge rate
in effect at that time (if the current charge rate has changed), but it will
never exceed the guaranteed maximum annual charge rate of 0.95% of the
Guaranteed Amount for the Lincoln SmartSecurity (Reg. TM) Advantage - 5 Year
Elective Step-up option or 1.50% of the Guaranteed Amount for the Lincoln
SmartSecurity (Reg. TM) Advantage - 1 Year Automatic Step-up option. If you
never elect to step-up your Guaranteed Amount, your rider charge rate will
never change, although the amount we deduct will change as the Guaranteed
Amount changes. The rider charge will be discontinued upon the earlier of the
Annuity Commencement Date, election of i4LIFE (Reg. TM) Advantage or
termination of the rider. A portion of the rider charge, based on the number of
days the rider was in effect that quarter, will be deducted upon termination of
the rider (except upon death) or surrender of the contract.

Rider Charge Waiver. For the Lincoln SmartSecurity (Reg. TM) Advantage - 5 Year
Elective Step-up option, after the later of the fifth anniversary of the
effective date of the rider or the fifth anniversary of the most recent step-up
of the Guaranteed Amount, the rider charge may be waived. For the Lincoln
SmartSecurity (Reg. TM) Advantage - 1 Year Automatic Step-up option, no rider
charge waiver is available with the single life and joint life options. The
earlier version of the Lincoln SmartSecurity (Reg. TM) Advantage - 1 Year
Automatic Step-up option has a waiver charge provision which may occur after
the fifth Benefit Year anniversary following the last automatic step-up
opportunity.

Whenever the above conditions are met, on each Valuation Date the rider charge
is to be deducted, if the total withdrawals from the contract have been less
than or equal to 10% of the sum of: (1) the Guaranteed Amount on the effective
date of this rider or on the most recent step-up date; and (2) Gross Purchase
Payments made after the step-up, then the quarterly rider charge will be
waived. If the withdrawals have been more than 10%, then the rider charge will
not be waived.

4LATER (Reg. TM) Advantage Charge (This rider is no longer available). Prior to
the Periodic Income Commencement Date (which is defined as the Valuation Date
the initial Regular Income Payment under i4LIFE (Reg. TM) Advantage is
determined), the annual 4LATER (Reg. TM) charge rate is currently 0.65% of the
Income Base. For riders purchased before January 20, 2009, the current annual
charge rate will increase from 0.50% to 0.65% upon the next election to reset
the Income Base. The Income Base (an amount equal to the initial Gross Purchase
Payment if purchased at contract issue, or Contract Value at the time of
election if elected after the contract effective date), as adjusted, is a value
that will be used to calculate the 4LATER (Reg. TM) Guaranteed Income Benefit.
The Income Base is increased for subsequent Purchase Payments, automatic 15%
enhancements and resets, and decreased for withdrawals. An amount equal to the
quarterly 4LATER (Reg. TM) rider charge rate multiplied by the Income Base will
be deducted from the Subaccounts on every three-month anniversary of the later
of the 4LATER (Reg. TM) rider effective date or the most recent reset of the
Income Base. This deduction will be made in proportion to the value in each
Subaccount on the Valuation Date the 4LATER (Reg. TM) rider charge is assessed.
The amount we deduct will increase as the Income Base increases, because the
charge is based on the Income Base. As described in more detail below, the only

50
<PAGE>

time the Income Base will change is when there are additional Purchase
Payments, withdrawals, automatic enhancements at the end of the 3-year waiting
periods or in the event of a reset to the current Account Value.

Upon a reset of the Income Base, a portion of the rider charge, based on the
number of days prior to the reset, will be deducted on the Valuation Date of
the reset based on the Income Base immediately prior to the reset. This
deduction covers the cost of the 4LATER (Reg. TM) rider from the time of the
previous deduction to the date of the reset. After the reset, we will deduct
the 4LATER (Reg. TM) rider charge for the reset Income Base on a quarterly
basis, beginning on the Valuation Date on or next following the three-month
anniversary of the reset. At the time of the reset, the annual charge rate will
be the current charge rate in effect at the time of reset. At the time of each
reset (whether you elect the reset or we administer the reset for you), the
annual charge rate will change to the current charge rate in effect at the time
of the reset, not to exceed the guaranteed maximum charge rate of 1.50% of the
Income Base. At the time of reset, a new Waiting Period will begin. Subsequent
resets may be elected at the end of each new Waiting Period. The reset will be
effective on the next Valuation Date after notice of the reset is approved by
us. If you never elect to reset your Income Base, your 4LATER (Reg. TM) rider
charge rate will never change, although the amount we deduct will change as
your Income Base changes.

Prior to the Periodic Income Commencement Date, a portion of the 4LATER (Reg.
TM) rider charge, based on the number of days the rider was in effect that
quarter, will be deducted upon termination of the 4LATER (Reg. TM) rider for
any reason other than death. On the Periodic Income Commencement Date, a
portion of the 4LATER (Reg. TM) rider charge, based on the number of days the
rider was in effect that quarter, will be made to cover the cost of 4LATER
(Reg. TM) since the previous deduction.

Deductions for Premium Taxes

Any premium tax or other tax levied by any governmental entity as a result of
the existence of the contracts or the VAA will be deducted from the Contract
Value, unless the governmental entity dictates otherwise, when incurred, or at
another time of our choosing.

The applicable premium tax rates that states and other governmental entities
impose on the purchase of an annuity are subject to change by legislation, by
administrative interpretation or by judicial action. These premium tax rates
generally depend upon the law of your state of residence. The tax rates range
from zero to 5%.

Other Charges and Deductions

The surrender, withdrawal or transfer of value from a fixed account guaranteed
period may be subject to the Interest Adjustment. See Fixed Side of the
Contract.

The mortality and expense risk and administrative charge of 0.75% of the
Contract Value or 0.20% of the Contract Value on contracts purchased as part of
a Fee-Based Financial Plan on and after May 22, 2017 (0.75% of Contract Value
on contracts purchased as part of a Fee-Based Financial Plan prior to May 22,
2017) (0.60% of the Contract Value on all contracts purchased prior to November
15, 2010 and on all contracts purchased as part of a Fee-Based Financial Plan
on or after June 30, 2010) will be assessed on all variable Annuity Payouts
(except for i4LIFE (Reg. TM) Advantage, which has a different charge),
including options that may be offered that do not have a life contingency and
therefore no mortality risk. This charge covers the expense risk and
administrative services listed previously in this prospectus. The expense risk
is the risk that our costs in providing the services will exceed our revenues
from contract charges.

There are additional deductions from and expenses paid out of the assets of the
underlying funds that are more fully described in the prospectus for the funds.
Among these deductions and expenses are 12b-1 fees which reimburse us or an
affiliate for certain expenses incurred in connection with certain
administrative and distribution support services provided to the funds.

Sales Charge For Contracts Prior to February 8, 2010

For contracts purchased prior to February 8, 2010, the sales charge is
calculated according to the following scale:

Owner's Investment Sales Charge
--------------------------------- -------------

Under $25,000.............. 5.75%
$25,000 - $49,999.......... 5.00%
$50,000 - $99,999.......... 4.50%
$100,000 - $249,999........ 3.50%
$250,000 - $499,999........ 2.50%
$500,000 - $749,999........ 2.00%
$750,000 - $999,999........ 1.50%
$1,000,000 or greater...... 1.00%

For contracts purchased prior to November 9, 2009, the owner's investment is
defined, in accordance with our procedures, as the sum of:

a) The Contract Values for any individual Lincoln annuity contracts owned by an
eligible owner (defined below)

51
<PAGE>

b) the amount (in dollars) of an eligible owner's investment in retail mutual
funds (excluding those assets in fee based or advisory accounts) from the
fund families that also offer investment options in this variable annuity
contract

c) the amount of the current Gross Purchase Payment you are making into this
contract.

An eligible owner includes you as the Contractowner of your Lincoln ChoicePlus
AssuranceSM (A Share) contract and any joint owner you have named on your
annuity contract. Annuity contracts and mutual funds owned by any non-natural
owner are included if the Contractowner's or joint owner's social security
number is listed on the annuity contract or brokerage account.

In addition:

o This program is only available if your broker's firm has an agreement with
Lincoln Life in which the broker-dealer firm agrees to provide Lincoln Life
with the amount of the owner's investment based on the mutual funds and
annuity contracts in your account at the brokerage firm. Contract Values or
Account Values which are not recorded with your broker's firm will not be
included in the owner's investment calculation;

o If your broker's firm does not have this agreement in place or, if the firm
has an agreement, but does not provide Lincoln Life with the owner's
investment, only the Gross Purchase Payment and Contract Value, if any, in
this particular Lincoln ChoicePlus AssuranceSM (A Share) contract will be
considered in the sales charge calculation; and

o The amount of the owner's investment, if any, should be specified in the
application when you purchase a contract. Your broker will inform you if the
broker-dealer has an agreement in place and if the broker-dealer is willing
to provide the amount of the owner's investment. Check with your broker if
you have questions regarding the dollar amount of your owner's investment
calculation.

Additional Information

The charges described previously may be reduced or eliminated for any
particular contract. However, these reductions may be available only to the
extent that we anticipate lower distribution and/or administrative expenses, or
that we perform fewer sales or administrative services than those originally
contemplated in establishing the level of those charges, or when required by
law. Lower distribution and administrative expenses may be the result of
economies associated with:
o the use of mass enrollment procedures,
o the performance of administrative or sales functions by the employer,
o contracts sold by registered investment advisers who charge a fee for
financial plans,
o sales to Selling Group Individuals,
o the use by an employer of automated techniques in submitting deposits or
information related to deposits on behalf of its employees,
o for fee-based contracts only, the issue of a new Lincoln variable annuity
contract with the proceeds from the surrender of an existing Lincoln
variable annuity contract, if available in your state, or
o any other circumstances which reduce distribution or administrative expenses.

The exact amount of charges and fees applicable to a particular contract will
be stated in that contract.

The Contracts

Purchase of Contracts
If you wish to purchase a contract, you must apply for it through a registered
representative authorized by us. Certain broker-dealers may not offer all of
the features discussed in this prospectus. The completed application is sent to
us and we decide whether to accept or reject it. If the application is
accepted, a contract is prepared and executed by our legally authorized
officers. The contract is then sent to you either directly or through your
registered representative. See Distribution of the Contracts. The purchase of
multiple contracts with identical Contractowners, Annuitants and Beneficiaries
will be allowed only upon Home Office approval.

When a completed application and all other information necessary for processing
a purchase order is received in Good Order at our Home Office, an initial Gross
Purchase Payment will be priced no later than two business days after we
receive the order. If you submit your application and/or initial Gross Purchase
Payment to your agent, we will not begin processing your purchase order until
we receive the application and initial Gross Purchase Payment from your agent's
broker-dealer. While attempting to finish an incomplete application, we may
hold the initial Gross Purchase Payment for no more than five business days
unless we receive your consent to our retaining the payment until the
application is completed. If the incomplete application cannot be completed
within those five days and we have not received your consent, you will be
informed of the reasons, and the Gross Purchase Payment will be returned
immediately. Once the application is complete, we will allocate your initial
Gross Purchase Payment within two business days.

52
<PAGE>

Who Can Invest

To apply for a contract, you must be of legal age in a state where the
contracts may be lawfully sold and also be eligible to participate in any of
the qualified and nonqualified plans for which the contracts are designed. At
the time of issue, the Contractowner, joint owner and Annuitant must be under
age 86 (or for nonqualified contracts sold as part of a Fee-Based Financial
Plan only, under age 91, subject to additional terms and limitations and Home
Office approval). Certain Death Benefit options may not be available at all
ages. To help the government fight the funding of terrorism and money
laundering activities, Federal law requires all financial institutions to
obtain, verify, and record information that identifies each person who opens an
account. When you open an account, we will ask for your name, address, date of
birth, and other information that will allow us to identify you. We may also
ask to see your driver's license, photo i.d. or other identifying documents.

In accordance with money laundering laws and federal economic sanction policy,
the Company may be required in a given instance to reject a Purchase Payment
and/or freeze a Contractowner's account. This means we could refuse to honor
requests for transfers, withdrawals, surrenders or Death Benefits. Once frozen,
monies would be moved from the VAA to a segregated interest-bearing account
maintained for the Contractowner, and held in that account until instructions
are received from the appropriate regulator.

Do not purchase this contract if you plan to use it, or any of its riders, for
speculation, arbitrage, viatical arrangement, or other similar investment
scheme. The contract may not be resold, traded on any stock exchange, or sold
on any secondary market.

If you are purchasing the contract through a tax-favored arrangement, including
traditional IRAs and Roth IRAs, you should consider carefully the costs and
benefits of the contract (including annuity income benefits) before purchasing
the contract, since the tax-favored arrangement itself provides tax-deferred
growth.

Replacement of Existing Insurance

Careful consideration should be given prior to surrendering or withdrawing
money from an existing insurance contract to purchase a contract described in
this prospectus. Surrender charges may be imposed on your existing contract
and/or new sales charges may be imposed with the purchase of, or transfer into,
this contract. Any applicable exchange fee should also be considered. A
registered representative or tax advisor should be consulted prior to making an
exchange. Cash surrenders from an existing contract may be subject to tax and
tax penalties.

Purchase Payments

You may make Gross Purchase Payments to the contract at any time, prior to the
Annuity Commencement Date, subject to certain conditions. You are not required
to make any additional Purchase Payments after the initial Purchase Payment.
The minimum initial Gross Purchase Payment is $1,500 ($10,000 if sold as part
of a Fee-Based Financial Plan). The minimum initial Gross Purchase Payment for
nonqualified contracts sold as part of a Fee-Based Financial Plan where i4LIFE
(Reg. TM) Advantage is elected, and where the Contractowner, joint owner and/or
Annuitant are ages 86 to 90 (subject to additional terms and limitations and
Home Office approval) is $50,000. The minimum annual amount for additional
Purchase Payments is $300. Please check with your registered representative
about making additional Purchase Payments since the requirements of your state
may vary. The minimum payment to the contract at any one time must be at least
$100 ($25 if transmitted electronically). If a Purchase Payment is submitted
that does not meet the minimum amount, we will contact you to ask whether
additional money will be sent, or whether we should return the Purchase Payment
to you.

Purchase Payments totaling $2 million or more are subject to Home Office
approval. This amount takes into consideration the total Purchase Payments for
all variable annuity contracts issued by the Company (or its affiliates)
(excluding Lincoln Investor Advantage (Reg. TM) contracts) for the same
Contractowner, joint owner, and/or Annuitant. If you elect a Living Benefit
Rider, you may be subject to further restrictions in terms of your ability to
make additional Purchase Payments, as more fully described below. If you stop
making Purchase Payments, the contract will remain in force, however, we may
terminate the contract as allowed by your state's non-forfeiture law for
individual deferred annuities. We will not surrender your contract if you are
receiving guaranteed payments from us under one of the Living Benefit Riders.
Purchase Payments may be made or, if stopped, resumed at any time until the
Annuity Commencement Date, the surrender of the contract, or the death of the
Contractowner, whichever comes first.

If you elect a Living Benefit Rider (other than any version of i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit or Lincoln Long-Term CareSM Advantage),
after the first anniversary of the rider effective date, once cumulative
additional Purchase Payments exceed $100,000, additional Purchase Payments will
be limited to $50,000 per Benefit Year. If you elect any version of i4LIFE
(Reg. TM) Advantage Guaranteed Income Benefit, no additional Purchase Payments
will be allowed at any time after the Periodic Income Commencement Date. If you
elect i4LIFE (Reg. TM) Advantage without Guaranteed Income Benefit, no
additional Purchase Payments will be allowed after the Periodic Income
Commencement Date for nonqualified contracts. If you elect the Lincoln
Long-Term CareSM Advantage rider, no additional Purchase Payments can be made
after 90 days from the contract date.

In addition to the specific Purchase Payment restrictions and limitations
immediately above, upon advance written notice, we reserve the right to further
limit, restrict, or suspend Purchase Payments made to the contract.

53
<PAGE>

These restrictions and limitations mean that you will be limited in your
ability to increase your Contract Value (or Account Value under i4LIFE (Reg.
TM) Advantage with any version of Guaranteed Income Benefit) and/or increase
the amount of any guaranteed benefit under a Living Benefit Rider by making
additional Purchase Payments to the contract. You should carefully consider
these limitations and restrictions, and any other limitations and restrictions
of the contract, and how they may impact your long-term investment plans,
especially if you intend to increase Contract Value (or Account Value under any
version of i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit) by making
additional Purchase Payments over a long period of time. Please contact your
registered representative and refer to the Living Benefit Riders section of
this prospectus for additional information on any restrictions that may apply
to your Living Benefit Rider. State variations may apply.

Valuation Date

Accumulation and Annuity Units will be valued once daily at the close of
trading (normally, 4:00 p.m., New York time) on each day the New York Stock
Exchange is open (Valuation Date). On any date other than a Valuation Date, the
Accumulation Unit value and the Annuity Unit value will not change.

Allocation of Purchase Payments

Net Purchase Payments allocated to the variable side of the contract are placed
into the VAA's Subaccounts, according to your instructions. You may also
allocate Net Purchase Payments to the fixed account, if available.

The minimum amount of any Net Purchase Payment which can be put into any one
Subaccount is $20. The minimum amount of any Net Purchase Payment which can be
put into a Guaranteed Period of the fixed account is $2,000, subject to state
approval.

If we receive your Gross Purchase Payment from you or your broker-dealer in
Good Order at our Home Office prior to the close of the New York Stock Exchange
(normally 4:00 p.m., New York time), we will use the Accumulation Unit value
computed on that Valuation Date when processing your Gross Purchase Payment. If
we receive your Gross Purchase Payment in Good Order after market close, we
will use the Accumulation Unit value computed on the next Valuation Date. If
you submit your Gross Purchase Payment to your registered representative, we
will generally not begin processing the Gross Purchase Payment until we receive
it from your representative's broker-dealer. If your broker-dealer submits your
Gross Purchase Payment to us through the Depository Trust and Clearing
Corporation (DTCC) or, pursuant to terms agreeable to us, uses a proprietary
order placement system to submit your Gross Purchase Payment to us, and your
Gross Purchase Payment was placed with your broker-dealer prior to market
close, then we will use the Accumulation Unit value computed on that Valuation
Date when processing your Gross Purchase Payment. If your Gross Purchase
Payment was placed with your broker-dealer after market close then we will use
the Accumulation Unit value computed on the next Valuation Date. There may be
circumstances under which the New York Stock Exchange may close early (prior to
4:00 p.m., New York time). In such instances, Purchase Payments received after
such early market close will be processed using the Accumulation Unit value
computed on the next Valuation Date.

The number of Accumulation Units determined in this way is not impacted by any
subsequent change in the value of an Accumulation Unit. However, the dollar
value of an Accumulation Unit will vary depending not only upon how well the
underlying fund's investments perform, but also upon the expenses of the VAA
and the underlying funds.

If an underlying fund imposes restrictions with respect to the acceptance of
Purchase Payments or allocations, we reserve the right to reject an allocation
request at any time the underlying fund notifies us of such a restriction. We
will notify you if your allocation request is or becomes subject to such
restrictions.

Valuation of Accumulation Units

Net Purchase Payments allocated to the VAA are converted into Accumulation
Units. This is done by dividing the amount allocated by the value of an
Accumulation Unit for the Valuation Period during which the Net Purchase
Payments are allocated to the VAA. The Accumulation Unit value for each
Subaccount was or will be established at the inception of the Subaccount. It
may increase or decrease from Valuation Period to Valuation Period.
Accumulation Unit values are affected by investment performance of the funds,
fund expenses, and the contract charges. The Accumulation Unit value for a
Subaccount for a later Valuation Period is determined as follows:

1. The total value of the fund shares held in the Subaccount is calculated by
multiplying the number of fund shares owned by the Subaccount at the
beginning of the Valuation Period by the net asset value per share of the
fund at the end of the Valuation Period, and adding any dividend or other
distribution of the fund if an ex-dividend date occurs during the Valuation
Period; minus

2. The liabilities of the Subaccount at the end of the Valuation Period; these
liabilities include daily charges imposed on the Subaccount, and may include
a charge or credit with respect to any taxes paid or reserved for by us that
we determine result from the operations of the VAA; and

3. The result is divided by the number of Subaccount units outstanding at the
beginning of the Valuation Period.

The daily charges imposed on a Subaccount for any Valuation Period are equal to
the daily mortality and expense risk charge and the daily administrative charge
multiplied by the number of calendar days in the Valuation Period. Contracts
with different features have

54
<PAGE>

different daily charges, and therefore, will have different corresponding
Accumulation Unit values on any given day. In certain circumstances (for
example, when separate account assets are less than $1,000), and when permitted
by law, it may be prudent for us to use a different standard industry method
for this calculation, called the Net Investment Factor method. We will achieve
substantially the same result using either method.

Transfers On or Before the Annuity Commencement Date

After the first 30 days from the effective date of your contract, you may
transfer all or a portion of your investment from one Subaccount to another. A
transfer among Subaccounts involves the surrender of Accumulation Units in one
Subaccount and the purchase of Accumulation Units in the other Subaccount. A
transfer will be done using the respective Accumulation Unit values determined
at the end of the Valuation Date on which the transfer request is received.

Transfers (among the variable Subaccounts and as permitted between the variable
and fixed accounts) are limited to 12 per Contract Year unless otherwise
authorized by us. This limit does not apply to transfers made under the
automatic transfer programs of dollar cost averaging, cross-reinvestment or
portfolio rebalancing elected on forms available from us. See Additional
Services and the SAI for more information on these programs. These transfer
rights and restrictions also apply during the i4LIFE (Reg. TM) Advantage Access
Period (the time period during which you may make withdrawals from the i4LIFE
(Reg. TM) Advantage Account Value). See i4LIFE (Reg. TM) Advantage.

The minimum amount which may be transferred between Subaccounts is $300 (or the
entire amount in the Subaccount, if less than $300). If the transfer from a
Subaccount would leave you with less than $300 in the Subaccount, we may
transfer the total balance of the Subaccount.

A transfer request may be made to our Home Office in writing, or by fax or
other electronic means. A transfer request may also be made by telephone
provided the appropriate authorization is on file with us. Our address,
telephone number, and Internet address are on the first page of this
prospectus. Requests for transfers will be processed on the Valuation Date that
they are received when they are received in Good Order at our Home Office
before the close of the New York Stock Exchange (normally 4:00 p.m., New York
time). If we receive a transfer request in Good Order after market close, we
will process the request using the Accumulation Unit value computed on the next
Valuation Date.

There may be circumstances under which the New York Stock Exchange may close
early (prior to 4:00 p.m., New York time). In such instances transfers received
after such early market close will be processed using the Accumulation Unit
value computed on the next Valuation Date.

We may defer or reject a transfer request that is subject to a restriction
imposed by an underlying fund.

If your contract offers a fixed account, you may also transfer all or any part
of the Contract Value from the Subaccount(s) to the fixed side of the contract,
except during periods when (if permitted by your contract) we have discontinued
accepting transfers into the fixed side of the contract. The minimum amount
which can be transferred to a fixed account is $2,000 or the total amount in
the Subaccount if less than $2,000. However, if a transfer from a Subaccount
would leave you with less than $300 in the Subaccount, we may transfer the
total amount to the fixed side of the contract.

You may also transfer part of the Contract Value from a fixed account to the
Subaccount(s) subject to the following restrictions:
o total fixed account transfers are limited to 25% of the value of that fixed
account in any 12-month period; and
o the minimum amount that can be transferred is $300 or, if less, the amount in
the fixed account.

Because of these restrictions, it may take several years to transfer all of the
Contract Value in the fixed accounts to the Subaccounts. You should carefully
consider whether the fixed account meets your investment criteria. Transfers of
all or a portion of a fixed account (other than automatic transfer programs and
i4LIFE (Reg. TM) Advantage transfers) may be subject to Interest Adjustments,
if applicable. For a description of the Interest Adjustment, see the Fixed Side
of the Contract - Guaranteed Periods and Interest Adjustment.

Transfers may be delayed as permitted by the 1940 Act. See Delay of Payments.

Telephone and Electronic Transactions

A surrender, withdrawal, or transfer request may be made to our Home Office
using a fax or other electronic means. In addition, withdrawal and transfer
requests may be made by telephone, subject to certain restrictions. In order to
prevent unauthorized or fraudulent transfers, we may require certain
identifying information before we will act upon instructions. We may also
assign the Contractowner a Personal Identification Number (PIN) to serve as
identification. We will not be liable for following instructions we reasonably
believe are genuine. Telephone and other electronic requests will be recorded
and written confirmation of all transactions will be mailed to the
Contractowner on the next Valuation Date.

Please note that the telephone and/or electronic devices may not always be
available. Any telephone, fax machine or other electronic device, whether it is
yours, your service provider's, or your agent's, can experience outages or
slowdowns for a variety of reasons. These outages or slowdowns may delay or
prevent our processing of your request. Although we have taken precautions to
limit these problems, we cannot promise complete reliability under all
circumstances. If you are experiencing problems, you should make your request
by writing to our Home Office.

55
<PAGE>

Market Timing

Frequent, large, or short-term transfers among Subaccounts and the fixed
account, such as those associated with "market timing" transactions, can affect
the funds and their investment returns. Such transfers may dilute the value of
the fund shares, interfere with the efficient management of the fund's
portfolio, and increase brokerage and administrative costs of the funds. As an
effort to protect our Contractowners and the funds from potentially harmful
trading activity, we utilize certain market timing policies and procedures (the
"Market Timing Procedures"). Our Market Timing Procedures are designed to
detect and prevent such transfer activity among the Subaccounts and the fixed
account that may affect other Contractowners or fund shareholders.

In addition, the funds may have adopted their own policies and procedures with
respect to frequent purchases and redemptions of their respective shares. The
prospectuses for the funds describe any such policies and procedures, which may
be more or less restrictive than the frequent trading policies and procedures
of other funds and the Market Timing Procedures we have adopted to discourage
frequent transfers among Subaccounts. While we reserve the right to enforce
these policies and procedures, Contractowners and other persons with interests
under the contracts should be aware that we may not have the contractual
authority or the operational capacity to apply the frequent trading policies
and procedures of the funds. However, under SEC rules, we are required to: (1)
enter into a written agreement with each fund or its principal underwriter that
obligates us to provide to the fund promptly upon request certain information
about the trading activity of individual Contractowners, and (2) execute
instructions from the fund to restrict or prohibit further purchases or
transfers by specific Contractowners who violate the excessive trading policies
established by the fund.

You should be aware that the purchase and redemption orders received by the
funds generally are "omnibus" orders from intermediaries such as retirement
plans or separate accounts funding variable insurance contracts. The omnibus
orders reflect the aggregation and netting of multiple orders from individual
retirement plan participants and/or individual owners of variable insurance
contracts. The omnibus nature of these orders may limit the funds' ability to
apply their respective disruptive trading policies and procedures. We cannot
guarantee that the funds (and thus our Contractowners) will not be harmed by
transfer activity relating to the retirement plans and/or other insurance
companies that may invest in the funds. In addition, if a fund believes that an
omnibus order we submit may reflect one or more transfer requests from
Contractowners engaged in disruptive trading activity, the fund may reject the
entire omnibus order.

Our Market Timing Procedures detect potential "market timers" by examining the
number of transfers made by Contractowners within given periods of time. In
addition, managers of the funds might contact us if they believe or suspect
that there is market timing. If requested by a fund company, we may vary our
Market Timing Procedures from Subaccount to Subaccount to comply with specific
fund policies and procedures.

We may increase our monitoring of Contractowners who we have previously
identified as market timers. When applying the parameters used to detect market
timers, we will consider multiple contracts owned by the same Contractowner if
that Contractowner has been identified as a market timer. For each
Contractowner, we will investigate the transfer patterns that meet the
parameters being used to detect potential market timers. We will also
investigate any patterns of trading behavior identified by the funds that may
not have been captured by our Market Timing Procedures.

Once a Contractowner has been identified as a market timer under our Market
Timing Procedures, we will notify the Contractowner in writing that future
transfers (among the Subaccounts and/or the fixed account) will be temporarily
permitted to be made only by original signature sent to us by U.S. mail,
first-class delivery for the remainder of the Contract Year (or calendar year
if the contract is an individual contract that was sold in connection with an
employer sponsored plan). Overnight delivery or electronic instructions (which
may include telephone, facsimile, or Internet instructions) submitted during
this period will not be accepted. If overnight delivery or electronic
instructions are inadvertently accepted from a Contractowner that has been
identified as a market timer, upon discovery, we will reverse the transaction
within 1 or 2 business days. We will impose this "original signature"
restriction on that Contractowner even if we cannot identify, in the particular
circumstances, any harmful effect from that Contractowner's particular
transfers.

Contractowners seeking to engage in frequent, large, or short-term transfer
activity may deploy a variety of strategies to avoid detection. Our ability to
detect such transfer activity may be limited by operational systems and
technological limitations. The identification of Contractowners determined to
be engaged in such transfer activity that may adversely affect other
Contractowners or fund shareholders involves judgments that are inherently
subjective. We cannot guarantee that our Market Timing Procedures will detect
every potential market timer. If we are unable to detect market timers, you may
experience dilution in the value of your fund shares and increased brokerage
and administrative costs in the funds. This may result in lower long-term
returns for your investments.

Our Market Timing Procedures are applied consistently to all Contractowners. An
exception for any Contractowner will be made only in the event we are required
to do so by a court of law. In addition, certain funds available as investment
options in your contract may also be available as investment options for owners
of other, older life insurance policies issued by us. Some of these older life
insurance policies do not provide a contractual basis for us to restrict or
refuse transfers which are suspected to be market timing activity. In addition,
because other insurance companies and/or retirement plans may invest in the
funds, we cannot guarantee that the funds will not suffer harm from frequent,
large, or short-term transfer activity among Subaccounts and the fixed accounts
of variable contracts issued by other insurance companies or among investment
options available to retirement plan participants.

56
<PAGE>

In our sole discretion, we may revise our Market Timing Procedures at any time
without prior notice as necessary to better detect and deter frequent, large,
or short-term transfer activity to comply with state or federal regulatory
requirements, and/or to impose additional or alternate restrictions on market
timers (such as dollar or percentage limits on transfers). If we modify our
Market Timing Procedures, they will be applied uniformly to all Contractowners
or as applicable to all Contractowners investing in underlying funds.

Some of the funds have reserved the right to temporarily or permanently refuse
payments or transfer requests from us if, in the judgment of the fund's
investment adviser, the fund would be unable to invest effectively in
accordance with its investment objective or policies, or would otherwise
potentially be adversely affected. To the extent permitted by applicable law,
we reserve the right to defer or reject a transfer request at any time that we
are unable to purchase or redeem shares of any of the funds available through
the VAA, including any refusal or restriction on purchases or redemptions of
the fund shares as a result of the funds' own policies and procedures on market
timing activities. If a fund refuses to accept a transfer request we have
already processed, we will reverse the transaction within 1 or 2 business days.
We will notify you in writing if we have reversed, restricted or refused any of
your transfer requests. Some funds also may impose redemption fees on
short-term trading (i.e., redemptions of mutual fund shares within a certain
number of business days after purchase). We reserve the right to administer and
collect any such redemption fees on behalf of the funds. You should read the
prospectuses of the funds for more details on their redemption fees and their
ability to refuse or restrict purchases or redemptions of their shares.

Transfers After the Annuity Commencement Date

You may transfer all or a portion of your investment in one Subaccount to
another Subaccount or to the fixed side of the contract, as permitted under
your contract. Those transfers will be limited to three times per Contract
Year. You may also transfer from a variable annuity payment to a fixed annuity
payment. You may not transfer from a fixed annuity payment to a variable
annuity payment. Once elected, the fixed annuity payment is irrevocable.

These provisions also apply during the i4LIFE (Reg. TM) Advantage Lifetime
Income Period. See i4LIFE (Reg. TM) Advantage.

Ownership

The Contractowner on the date of issue will be the person or entity designated
in the contract specifications. The Contractowner of a nonqualified contract
may name a joint owner.

As Contractowner, you have all rights under the contract. According to Indiana
law, the assets of the VAA are held for the exclusive benefit of all
Contractowners and their designated Beneficiaries; and the assets of the VAA
are not chargeable with liabilities arising from any other business that we may
conduct. We reserve the right to approve all ownership and Annuitant changes.
Nonqualified contracts may not be sold, discounted, or pledged as collateral
for a loan or for any other purpose. Qualified contracts are not transferable
unless allowed under applicable law. Nonqualified contracts may not be
collaterally assigned. Assignments may have an adverse impact on any Death
Benefits or benefits offered under Living Benefit Riders in this product and
may be prohibited under the terms of a particular feature. We assume no
responsibility for the validity or effect of any assignment. Consult your tax
advisor about the tax consequences of an assignment.

Joint Ownership

If a contract has joint owners, the joint owners shall be treated as having
equal undivided interests in the contract. Either owner, independently of the
other, may exercise any ownership rights in this contract. Not more than two
owners (an owner and joint owner) may be named and contingent owners are not
permitted.

Annuitant

The following rules apply prior to the Annuity Commencement Date. You may name
only one Annuitant (unless you are a tax-exempt entity, then you can name two
joint Annuitants). You (if the Contractowner is a natural person) have the
right to change the Annuitant at any time by notifying us in writing of the
change. However, we reserve the right to approve all Annuitant changes. This
may not be allowed if certain riders are in effect. The new Annuitant must be
under age 86 (or for nonqualified contracts sold as part of a Fee-Based
Financial Plan only, under age 91, subject to additional terms and limitations
and Home Office approval) as of the effective date of the change. This change
may cause a reduction in the Death Benefits or benefits offered under Living
Benefit Riders. See The Contracts - Death Benefit and Living Benefit Riders. A
contingent Annuitant may be named or changed by notifying us in writing.
Contingent Annuitants are not allowed on contracts owned by non-natural owners.
On or after the Annuity Commencement Date, the Annuitant or joint Annuitants
may not be changed and contingent Annuitant designations are no longer
applicable.

Surrenders and Withdrawals

Before the Annuity Commencement Date, we will allow the surrender of the
contract or a withdrawal of the Contract Value upon your written request on an
approved Lincoln distribution request form (available from the Home Office),
fax, or other electronic means. Withdrawal requests may be made by telephone,
subject to certain restrictions. All surrenders and withdrawals may be made in
accordance with the rules discussed below. Surrender or withdrawal rights after
the Annuity Commencement Date depend on the Annuity Payout option selected.

57
<PAGE>

The amount available upon surrender/withdrawal is the Contract Value less any
applicable charges, fees, and taxes at the end of the Valuation Period during
which the written request for surrender/withdrawal is received in Good Order at
the Home Office. If we receive a surrender or withdrawal request in Good Order
at our Home Office before the close of the NYSE (normally 4:00 p.m., New York
time), we will process the request using the Accumulation Unit value computed
on that Valuation Date. If we receive a surrender or withdrawal request in Good
Order at our Home Office after market close, we will process the request using
the Accumulation Unit value computed on the next Valuation Date. There may be
circumstances under which the NYSE may close early (prior to 4:00 p.m., New
York time). In such instances, surrender or withdrawal requests received after
such early market close will be processed using the Accumulation Unit value
computed on the next Valuation Date. The minimum amount which can be withdrawn
is $300. Unless a request for withdrawal specifies otherwise, withdrawals will
be made from all Subaccounts within the VAA and from the fixed account in the
same proportion that the amount of withdrawal bears to the total Contract
Value. Surrenders and withdrawals from the fixed account may be subject to the
Interest Adjustment. See Fixed Side of the Contract. Unless prohibited,
surrender/withdrawal payments will be mailed within seven days after we receive
a valid written request at the Home Office. The payment may be postponed as
permitted by the 1940 Act.

The tax consequences of a surrender/withdrawal are discussed later in this
prospectus. See Federal Tax Matters - Taxation of Withdrawals and Surrenders.

Additional Services

These are the additional services available to you under your contract:
dollar-cost averaging (DCA), automatic withdrawal service (AWS),
cross-reinvestment service and portfolio rebalancing. Currently, there is no
charge for these services. However, we reserve the right to impose one after
appropriate notice to Contractowners. In order to take advantage of one of
these services, you will need to complete the appropriate election form that is
available from our Home Office. Once we are notified of a pending death claim,
these services will stop. For further detailed information on these services,
please see Additional Services in the SAI.

Dollar-Cost Averaging. Dollar-cost averaging allows you to transfer amounts
from the DCA fixed account, if available, or certain Subaccounts into the
Subaccounts on a monthly basis or in accordance with other terms we make
available.

You may elect to participate in the DCA program at the time of application or
at any time before the Annuity Commencement Date by completing our election
form, by calling our Home Office, or by other electronic means. The minimum
amount to be dollar cost averaged (DCA'd) is $1,500 over any time period
between six and 60 months. We may offer different time periods for new Purchase
Payments and for transfers of Contract Value. State variations may exist. Once
elected, the program will remain in effect until the earlier of:

o the Annuity Commencement Date;
o the value of the amount being DCA'd is depleted; or
o you cancel the program by written request or by telephone if we have your
telephone authorization on file.

We reserve the right to restrict access to this program at any time.

A transfer made as part of this program is not considered a transfer for
purposes of limiting the number of transfers that may be made, or assessing any
charges or Interest Adjustment which may apply to transfers. Upon receipt of an
additional Purchase Payment allocated to the DCA fixed account, the existing
program duration will be extended to reflect the end date of the new DCA
program. However, the existing interest crediting rate will not be extended.
The existing interest crediting rate will expire at its originally scheduled
expiration date and the value remaining in the DCA account from the original
amount as well as any additional Purchase Payments will be credited with
interest at the standard DCA rate at the time. If you cancel the DCA program,
your remaining Contract Value in the DCA program will be allocated to the
Subaccounts according to your allocation instructions. We reserve the right to
discontinue or modify this program at any time. If you have chosen DCA from one
of the Subaccounts, only the amount allocated to that DCA program will be
transferred. Investment gain, if any, will remain in that Subaccount unless you
reallocate it to one of the other Subaccounts. If you are enrolled in automatic
rebalancing, this amount may be automatically rebalanced based on your
allocation instructions in effect at the time of rebalancing. DCA does not
assure a profit or protect against loss.

Automatic Withdrawal Service. The automatic withdrawal service (AWS) provides
for an automatic periodic withdrawal of your Contract Value. Withdrawals under
AWS are subject to applicable Interest Adjustments. See Fixed Side of the
Contract - Interest Adjustment. Withdrawals under AWS will be noted on your
quarterly statement. AWS is also available for amounts allocated to the fixed
account, if applicable.

Cross-Reinvestment Service. The cross-reinvestment service automatically
transfers the Contract Value in a designated Subaccount that exceeds a baseline
amount to another specific Subaccount at specific intervals. As of May 1, 2010,
this service is no longer available to new participants. Any Contractowner who
had enrolled in this service prior to this date may continue to participate.
You specifiy the applicable Subaccounts, the baseline amount and the interval
period.

Portfolio Rebalancing. Portfolio rebalancing is an option that restores to a
pre-determined level the percentage of Contract Value allocated to each
Subaccount. The rebalancing may take place monthly, quarterly, semi-annually or
annually. Rebalancing events will be noted on your quarterly statement. The
fixed account is not available for portfolio rebalancing.

58
<PAGE>

Only one of the three additional services (DCA, cross-reinvestment and
portfolio rebalancing) may be used at one time. For example, you cannot have
DCA and cross-reinvestment running simultaneously. We reserve the right to
discontinue any or all of these administrative services at any time.

Fees Associated with Fee-Based Financial Plans. You may have purchased this
contract as part of a Fee-Based Financial Plan whereby an investment firm or
professional offers investment advice for a fee. The fee for this advice is
covered in a separate agreement between you and the firm or professional, and
is in addition to the fees and expenses that apply to this contract. You may
elect to have the fee paid to your investment firm or professional from your
Contract Value by using AWS, if certain conditions apply.

Partial withdrawals to pay the fee may be taken automatically by enrolling in
an AWS designated specifically for this purpose. Withdrawals are available in
monthly, quarterly, semi-annual, or annual frequencies. You may enroll in this
service by completing the appropriate election form that is available from your
investment adviser. Additionally, you may authorize your investment adviser to
set up or change your AWS program, or to take one-time withdrawals to pay for
the advisory fee. Once you have elected this service, it will continue until
you instruct us in writing to terminate it. Withdrawals under this AWS option
will be noted on your quarterly statement as an advisory fee withdrawal. This
service may not be available through all broker-dealers.

This service is not available if i4LIFE (Reg. TM) Advantage is in effect and
will automatically terminate upon election of i4LIFE (Reg. TM) Advantage.

These withdrawals may decrease your guarantees under a Death Benefit or Living
Benefit Rider. Advisory fee withdrawals may also have tax consequences. For
nonqualified contracts, partial withdrawals to pay the advisory fee will be
treated as a distribution for federal tax purposes, and will be reported as
income on Form 1099R. For qualified contracts, partial withdrawals to pay the
advisory fee will not be reported as a distribution from the contract.

Asset Allocation Models

You may allocate your Purchase Payment among a group of Subaccounts within an
asset allocation model. Each model invests different percentages of the
Contract Value in some or all of the Subaccounts currently available within
your annuity contract. If you select an asset allocation model, 100% of your
Contract Value (and any additional Purchase Payments you make) will be
allocated among certain Subaccounts in accordance with the model's asset
allocation strategy. You may not make transfers among the Subaccounts. We will
proportionately deduct any withdrawals you make from the Subaccounts in the
asset allocation model. You may only choose one asset allocation model at a
time, though you may change to a different asset allocation model available in
the contract at any time.

This contract may be offered as part of a Fee-Based Financial Plan whereby an
investment firm or professional offers investment advice for a fee. It is sold
through broker-dealers who may be registered as or affiliated with a registered
investment adviser. Your registered representative may discuss asset allocation
models with you to assist in deciding to allocate your Purchase Payments among
the various Subaccounts and/or the fixed account. You should consult with your
registered representative as to whether a model is appropriate for you.

Each of the asset allocation models seeks to meet its investment objective
while avoiding excessive risk. The models also strive to achieve
diversification among asset classes in order to help provide returns
commensurate with a given level of risk over the long-term. There can be no
assurance, however, that any of the asset allocation models will achieve its
investment objective. If you are seeking a more aggressive strategy, these
models may not be appropriate for you.

The asset allocation models are intended to provide a diversified investment
portfolio by combining different asset classes to help it reach its stated
investment goal. While diversification may help reduce overall risk, it does
not eliminate the risk of losses and it does not protect against losses in a
declining market.

In order to maintain the model's specified Subaccount allocation percentages,
you agree to be automatically enrolled in the portfolio rebalancing option and
you thereby authorize us to automatically rebalance your Contract Value on a
quarterly basis based upon your allocation instructions in effect at the time
of the rebalancing. Confirmation of the rebalancing will appear on your
quarterly statement. We reserve the right to change the rebalancing frequency
at any time, in our sole discretion, but will not make changes more than once
per calendar year. You will be notified at least 30 days prior to the date of
any change in frequency.

The models are static asset allocation models. This means that they have fixed
allocations made up of underlying funds that are offered within your contract
and the percentage allocations will not change over time. Once you have
selected an asset allocation model, we will not make any changes to the fund
allocations within the model except for the rebalancing described above. If you
wish to change your fund allocations either to new funds or to a different
model, you must submit new allocation instructions to us. You may terminate a
model at any time. There is no charge from Lincoln for participating in a
model.

The election of certain Living Benefit Riders may require that you allocate
Purchase Payments in accordance with Investment Requirements that may be
satisfied by choosing an asset allocation model. Different requirements and/or
restrictions may apply under the individual rider. See The Contracts -
Investment Requirements. To the extent you are using a model to satisfy your
Investment Requirements, the model is intended, in part, to reduce the risk of
investment losses that may require us to use our own assets to make guaranteed
payments under the Living Benefit Riders.

59
<PAGE>

The models were designed and prepared by Lincoln Investment Advisors
Corporation (LIAC), which is an affiliate of ours, for use by Lincoln Financial
Distributors, Inc. (LFD), the principal underwriter of the contracts. LFD
provides models to broker-dealers who may offer the models to their own
clients. In making these models and Subaccounts available as investment options
under your contract, LIAC, LFD and the Company are not providing you with
investment advice, nor are they recommending to you any particular model or
Subaccount. You should consult with your registered representative to determine
whether you should utilize or invest in any model or Subaccount, or whether it
is suitable for you based upon your goals, risk tolerance and time horizon.

If a fund within a model closes to new investors, investors that have been
invested before the fund closed may remain in the model. However the model
would no longer be offered to new investors. If a fund within a model
liquidates, we may transfer assets from that Subaccount to another Subaccount
after providing notice to you. If this transfer occurs, and you own a Living
Benefit Rider and are subject to Investment Requirements, you may no longer
comply with the Investment Requirements. See the Investment Requirements
section of this prospectus for more information. If a fund within a model
merges with another fund, we will add the surviving fund to the model.

Death Benefit

The chart below provides a brief overview of how the Death Benefit proceeds
will be distributed if death occurs prior to i4LIFE (Reg. TM) Advantage
elections or prior to the Annuity Commencement Date. Refer to your contract for
the specific provisions applicable upon death.

UPON DEATH OF: AND... AND... DEATH BENEFIT PROCEEDS PASS TO:

Contractowner There is a surviving joint owner The Annuitant is living or deceased Joint owner
Contractowner There is no surviving joint owner The Annuitant is living or deceased Designated Beneficiary
Contractowner There is no surviving joint owner The Annuitant is living or deceased Contractowner's estate
and the Beneficiary predeceases the
Contractowner
Annuitant The Contractowner is living There is no contingent Annuitant The youngest Contractowner
becomes the contingent Annuitant
and the contract continues. The
Contractowner may waive* this
continuation and receive the Death
Benefit proceeds.
Annuitant The Contractowner is living The contingent Annuitant is living Contingent Annuitant becomes the
Annuitant and the contract continues
Annuitant** The Contractowner is a trust or No contingent Annuitant allowed Designated Beneficiary
other non-natural person with non-natural Contractowner

* Notification from the Contractowner to receive the Death Benefit proceeds
must be received within 75 days of the death of the Annuitant.

** Death of Annuitant is treated like death of the Contractowner.

If the Contractowner (or a joint owner) or Annuitant dies prior to the Annuity
Commencement Date, a Death Benefit may be payable. You can choose the Death
Benefit. Only one Death Benefit may be in effect at any one time and this Death
Benefit terminates if you elect i4LIFE (Reg. TM) Advantage or elect any other
annuitization option. Generally, the more expensive the Death Benefit is, the
greater the protection.

You should consider the following provisions carefully when designating the
Beneficiary, Annuitant, any contingent Annuitant and any joint owner, as well
as before changing any of these parties. The identity of these parties under
the contract may significantly affect the amount and timing of the Death
Benefit or other amount paid upon a Contractowner's or Annuitant's death.

You may designate a Beneficiary during your lifetime and change the Beneficiary
by filing a written request with our Home Office. Each change of Beneficiary
revokes any previous designation. We reserve the right to request that you send
us the contract for endorsement of a change of Beneficiary.

Upon the death of the Contractowner, a Death Benefit will be paid to the
Beneficiary. Upon the death of a joint owner, the Death Benefit will be paid to
the surviving joint owner. If the Contractowner is a corporation or other
non-individual (non-natural person), the death of the Annuitant will be treated
as death of the Contractowner.

If an Annuitant who is not the Contractowner or joint owner dies, then the
contingent Annuitant, if named, becomes the Annuitant and no Death Benefit is
payable on the death of the Annuitant. If no contingent Annuitant is named, the
Contractowner (or younger of joint owners) becomes the Annuitant.
Alternatively, a Death Benefit may be paid to the Contractowner (and joint
owner, if applicable, in

60
<PAGE>

equal shares). Notification of the election of this Death Benefit must be
received by us within 75 days of the death of the Annuitant. The contract
terminates when any Death Benefit is paid due to the death of the Annuitant.

If a Contractowner, joint owner or Annuitant was added or changed subsequent to
the effective date of this contract (unless the change occurred because of the
death of a prior Contractowner, joint owner or Annuitant), upon death, we will
only pay the Contract Value as of the Valuation Date we approve the payment of
the death claim.

If your Contract Value equals zero, no Death Benefit will be paid.

Account Value Death Benefit. If you elect the Account Value Death Benefit
contract option, we will pay a Death Benefit equal to the Contract Value on the
Valuation Date the Death Benefit is approved by us for payment. No additional
Death Benefit is provided. Once you have selected this Death Benefit option, it
cannot be changed. (Your contract may refer to this benefit as the Contract
Value Death Benefit.)

Guarantee of Principal Death Benefit. The Guarantee of Principal Death Benefit
is the default Death Benefit under this contact; this means that if you do not
select a Death Benefit, the Guarantee of Principal Death Benefit will be
automatically selected for you at contract issue. There is an additional charge
for this Death Benefit. If the Guarantee of Principal Death Benefit is in
effect, the Death Benefit will be equal to the greater of:
o the current Contract Value as of the Valuation Date we approve the payment of
the claim; or
o the sum of all Gross Purchase Payments decreased by withdrawals in the same
proportion that withdrawals reduced the Contract Value (withdrawals less
than or equal to the Guaranteed Annual Income amount under any version of
Lincoln Lifetime IncomeSM Advantage 2.0, Lincoln Market Select (Reg. TM)
Advantage or Lincoln Max 6 SelectSM Advantage or the Maximum Annual
Withdrawal amount under Lincoln Lifetime IncomeSM Advantage may reduce the
sum of all Purchase Payments amount on a dollar for dollar basis. See Living
Benefit Riders - Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk),
Lincoln Market Select (Reg. TM) Advantage, Lincoln Max 6 SelectSM Advantage
or Lincoln Lifetime IncomeSM Advantage).

In a declining market, withdrawals deducted in the same proportion that
withdrawals reduce the Contract Value may have a magnified effect on the
reduction of the Death Benefit payable. This is because the reduction in the
benefit may be more than the dollar amount withdrawn from the Contract Value.
All references to withdrawals include deductions for any applicable charges
associated with those withdrawals (an Interest Adjustment for example) and
premium taxes, if any. For contracts purchased prior to the time a state
approved the above Guarantee of Principal Death Benefit calculation, the sum of
all Purchase Payments is reduced by the sum of all withdrawals.

The Guarantee of Principal Death Benefit may be discontinued by completing the
Change of Death Benefit form and sending it to our Home Office. The benefit
will be discontinued as of the Valuation Date we receive the request and the
Account Value Death Benefit will apply. We will begin deducting the charge for
the Account Value Death Benefit as of that date. See Charges and Other
Deductions.

Enhanced Guaranteed Minimum Death Benefit (EGMDB). If the EGMDB is in effect,
the Death Benefit paid will be the greatest of:
o the current Contract Value as of the Valuation Date we approve the payment of
the claim; or
o the sum of all Gross Purchase Payments decreased by withdrawals in the same
proportion that withdrawals reduced the Contract Value (withdrawals less
than or equal to the Guaranteed Annual Income amount under any version of
Lincoln Lifetime IncomeSM Advantage 2.0, Lincoln Market Select (Reg. TM)
Advantage or Lincoln Max 6 SelectSM Advantage or the Maximum Annual
Withdrawal amount under Lincoln Lifetime IncomeSM Advantage may reduce the
sum of all Purchase Payments amount on a dollar for dollar basis. See Living
Benefit Riders - Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk),
Lincoln Market Select (Reg. TM) Advantage, Lincoln Max 6 SelectSM Advantage
or Lincoln Lifetime IncomeSM Advantage); or
o the highest Contract Value on any contract anniversary (including the
inception date) (determined before the allocation of any Gross Purchase
Payments on that contract anniversary) prior to the 81st birthday of the
deceased Contractowner, joint owner (if applicable), or Annuitant and prior
to the death of the Contractowner, joint owner (if applicable) or Annuitant
for whom a death claim is approved for payment. The highest Contract Value
is increased by Gross Purchase Payments and is decreased by withdrawals
subsequent to that anniversary date in the same proportion that withdrawals
reduced the Contract Value.

The EGMDB is not available under contracts issued to a Contractowner, or joint
owner or Annuitant, who is age 80 or older at the time of issuance.

There is an additional charge for this Death Benefit. You may discontinue the
EGMDB at any time by completing the Change of Death Benefit form and sending it
to our Home Office. The benefit will be discontinued as of the Valuation Date
we receive the request, and the Guarantee of Principal Death Benefit or the
Account Value Death Benefit will apply. We will begin deducting the applicable
charge for the new Death Benefit as of that date. See Charges and Other
Deductions.

61
<PAGE>

General Death Benefit Information

Only one of these Death Benefits may be in effect at any one time. Your Death
Benefit terminates on and after your Annuity Commencement Date. i4LIFE (Reg.
TM) Advantage only provides Death Benefit options during the Access Period.
There are no Death Benefits during the Lifetime Income Period. Please see the
i4LIFE (Reg. TM) Advantage - i4LIFE (Reg. TM) Advantage Death Benefit section
of this prospectus for more information.

If there are joint owners, upon the death of the first Contractowner, we will
pay a Death Benefit to the surviving joint owner. The surviving joint owner
will be treated as the primary, designated Beneficiary. Any other Beneficiary
designation on record at the time of death will be treated as a contingent
Beneficiary. If the surviving joint owner is the spouse of the deceased joint
owner, he/she may continue the contract as sole Contractowner. Upon the death
of the spouse who continues the contract, we will pay a Death Benefit to the
designated Beneficiary(s).

If the Beneficiary is the spouse of the Contractowner, then the spouse may
elect to continue the contract as the new Contractowner. Same-sex spouses
should carefully consider whether to purchase annuity products that provide
benefits based upon status as a spouse, and whether to exercise any spousal
rights under the contract. In 2013, the U.S. Supreme Court held that same-sex
spouses who are married under state law are treated as spouses for purposes of
federal law. You are strongly encouraged to consult a tax advisor before
electing spousal rights under the contract.

Should the surviving spouse elect to continue the contract, a portion of the
Death Benefit may be credited to the contract. Any portion of the Death Benefit
that would have been payable (if the contract had not been continued) that
exceeds the current Contract Value on the Valuation Date we approve the claim
will be added to the Contract Value. If the contract is continued in this way,
the Death Benefit in effect at the time the Beneficiary elected to continue the
contract will remain as the Death Benefit.

The value of the Death Benefit will be determined as of the Valuation Date we
approve the payment of the claim. Approval of payment will occur upon our
receipt of a claim submitted in Good Order. To be in Good Order, we require all
the following:

1. proof (e.g. an original certified death certificate), or any other proof of
death satisfactory to us, of the death; and

2. written authorization for payment; and

3. all required claim forms, fully completed (including selection of a
settlement option).

Notwithstanding any provision of this contract to the contrary, the payment of
Death Benefits provided under this contract must be made in compliance with
Code Section 72(s) or 401(a)(9) as applicable, as amended from time to time.
Death Benefits may be taxable. See Federal Tax Matters.

Unless otherwise provided in the Beneficiary designation, one of the following
procedures will take place on the death of a Beneficiary:
o if any Beneficiary dies before the Contractowner, that Beneficiary's interest
will go to any other Beneficiaries named, according to their respective
interests; and/or
o if no Beneficiary survives the Contractowner, the proceeds will be paid to
the Contractowner's estate.

If the Beneficiary is a minor, court documents appointing the
guardian/custodian may be required.

Unless the Contractowner has already selected a settlement option, the
Beneficiary may choose the method of payment of the Death Benefit. The Death
Benefit payable to the Beneficiary or joint owner must be distributed within
five years of the Contractowner's date of death unless the Beneficiary begins
receiving within one year of the Contractowner's death the distribution in the
form of a life annuity or an annuity for a designated period not extending
beyond the Beneficiary's life expectancy.

Upon the death of the Annuitant, Federal tax law requires that an annuity
election be made no later than 60 days after we have approved the death claim
for payment.

If the Death Benefit becomes payable, the recipient may elect to receive
payment either in the form of a lump sum settlement or an Annuity Payout. If a
lump sum settlement is elected, the proceeds will be mailed within seven days
of approval by us of the claim subject to the laws, regulations and tax code
governing payment of Death Benefits. This payment may be postponed as permitted
by the Investment Company Act of 1940.

Abandoned Property. Every state has unclaimed property laws which generally
declare annuity contracts to be abandoned after a period of inactivity of three
to five years from the date a benefit is due and payable. For example, if the
payment of a Death Benefit has been triggered, but, if after a thorough search,
we are still unable to locate the Beneficiary of the Death Benefit, or the
Beneficiary does not come forward to claim the Death Benefit in a timely
manner, the Death Benefit will be "escheated". This means that the Death
Benefit will be paid to the abandoned property division or unclaimed property
office of the state in which the Beneficiary or the Contractowner last resided,
as shown on our books and records, or to our state of domicile. This
escheatment is revocable and the state is obligated to pay the Death Benefit
(without interest) if your Beneficiary steps forward to claim it with the
proper documentation.

62
<PAGE>

To prevent such escheatment, it is important that you update your Beneficiary
designations, including addresses, if and as they change. You may update your
Beneficiary designations by submitting a Beneficiary change form to our Home
Office.

Investment Requirements

If you purchase a Living Benefit Rider (except i4LIFE (Reg. TM) Advantage
without Guaranteed Income Benefit), you will be subject to Investment
Requirements. This requirement means you will be limited in your choice of
Subaccount investments and in how much you can invest in certain Subaccounts.
This also means you will not be able to allocate Contract Value to all of the
Subaccounts that are available to Contractowners who have not elected a Living
Benefit Rider.

If you elect a Living Benefit Rider, Investment Requirements apply whether you
purchase the rider at contract issue or add it to an existing contract. The
Living Benefit Rider you purchase and the date of purchase will determine which
Investment Requirements Option will apply to your contract. See Option 1,
Option 2, and Option 3 below. Currently, if you purchase i4LIFE (Reg. TM)
without Guaranteed Income Benefit, you will not be subject to any Investment
Requirements, although we reserve the right to impose Investment Requirements
for this rider in the future. If we do exercise our right to do so, you will
have to reallocate your Contract Value subject to such requirements.

Certain of the underlying funds that are included in the Investment
Requirements, including funds managed by an adviser affiliated with us, employ
risk management strategies that are intended to control the funds' overall
volatility, and for some funds, to also reduce the downside exposure of the
funds during significant market downturns.

These funds are included under Investment Requirements (particularly in the
Investment Requirements for the Managed Risk riders) in part because the
reduction in volatility helps us, to reduce the risk of investment losses that
may require us to use our own assets to make guaranteed payments under a Living
Benefit Rider. At the same time, risk management strategies in periods of high
market volatility or other market conditions, could limit your participation in
market gains. This may conflict with your investment objectives by limiting
your ability to maximize potential growth of your Contract Value and, in turn,
the value of any guaranteed benefit that is tied to investment performance. You
should consult your registered representative to determine whether these funds
align with your investment objectives. For more information about the funds and
the investment strategies they employ, please refer to the funds' current
prospectuses. Fund prospectuses are available by contacting us.

Under each option, we have divided the Subaccounts of your contract into groups
and have specified the minimum or maximum percentages of Contract Value that
must be in each group at the time you purchase the rider (or when the rider
Investment Requirements are enforced, if later). In addition, depending on when
you purchased your contract, you may allocate your Contract Value and Purchase
Payments in accordance with certain asset allocation models, as noted below. If
you terminate an asset allocation model, you must follow the Investment
Requirements applicable to your rider. Some investment options are not
available to you if you purchase certain riders. The Investment Requirements
may not be consistent with an aggressive investment strategy. You should
consult with your registered representative to determine if the Investment
Requirements are consistent with your investment objectives.

The chart below is provided to help you determine which option of Investment
Requirements, if any, applies to the Living Benefit Rider you purchase. If you
do not elect a Living Benefit Rider, the Investment Requirements will not apply
to your contract. Different Investment Requirements may apply if you terminate
one rider and elect another rider.

YOU WILL BE SUBJECT TO
IF YOU ELECT... AND THE DATE OF ELECTION IS... INVESTMENT REQUIREMENTS

Lincoln Lifetime IncomeSM Advantage 2.0 (Managed On or after April 2, 2012 Option 3 for Managed Risk
Risk) riders
4LATER (Reg. TM) Advantage (Managed Risk) On or after July 16, 2012 Option 3 for Managed Risk
riders
i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit On or after May 21, 2012 Option 3 for Managed Risk
(Managed Risk) riders
Lincoln Max 6 SelectSM Advantage On or after May 22, 2017 Option 3
4LATER (Reg. TM) Select Advantage On or after January 9, 2017 Option 3
i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit On or after August 29, 2016 Option 3
Lincoln Market Select (Reg. TM) Advantage On or after October 5, 2015 Option 3
Lincoln Long-Term CareSM Advantage On or after April 11, 2011 Option 3
Lincoln Lifetime IncomeSM Advantage 2.0 On or after November 15, 2010 Option 3

63
<PAGE>

YOU WILL BE SUBJECT TO
IF YOU ELECT... AND THE DATE OF ELECTION IS... INVESTMENT REQUIREMENTS

Lincoln Lifetime IncomeSM Advantage February 19, 2008 through January 19, 2009 Option 2
On or after January 20, 2009 Option 3
Lincoln SmartSecurity (Reg. TM) Advantage Prior to April 10, 2006 N/A
April 10, 2006 through January 19, 2009 Option 1
On or after January 20, 2009 Option 3
4LATER (Reg. TM) Advantage April 10, 2006 through January 19, 2009 Option 1
On or after January 20, 2009 Option 3
i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit (v.1) Prior to April 10, 2006 N/A
On or after April 10, 2006 Option 1
i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit (v.2) April 10, 2006 through January 19, 2009 Option 1
On or after January 20, 2009 Option 3
i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit (v.3) October 6, 2008 through January 19, 2009 Option 2
On or after January 20, 2009 Option 3
i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit (v.4) On or after November 15, 2010 Option 3

Investment Requirements - Option 1

No more than 35% of your Contract Value (includes Account Value if i4LIFE (Reg.
TM) Advantage is in effect) can be invested in the following Subaccounts
("Limited Subaccounts") (Note: not all Subaccounts are available with all
contracts):

o AB VPS Global Thematic Growth Portfolio
o AB VPS Small/Mid Cap Value Portfolio
o American Funds Global Growth Fund
o American Funds Global Small Capitalization Fund
o American Funds International Fund
o Delaware VIP (Reg. TM) Emerging Markets Series
o Delaware VIP (Reg. TM) High Yield Series
o Delaware VIP (Reg. TM) REIT Series
o Delaware VIP (Reg. TM) Small Cap Value Series
o Delaware VIP (Reg. TM) Smid Cap Core Series
o Fidelity (Reg. TM) VIP Mid-Cap Portfolio
o Franklin Income VIP Fund
o Franklin Mutual Shares VIP Fund
o Invesco V.I. International Growth Fund
o JPMorgan Insurance Trust Global Allocation Portfolio
o LVIP Baron Growth Opportunities Fund
o LVIP Blended Mid Cap Managed Volatility Fund
o LVIP Clarion Global Real Estate Fund
o LVIP Delaware Special Opportunities Fund
o LVIP Dimensional International Equity Managed Volatility Fund

o LVIP Franklin Templeton Global Equity Managed Volatility Fund
o LVIP JPMorgan High Yield Fund
o LVIP JPMorgan Select Mid Cap Value Managed Volatility Fund
o LVIP Managed Risk Profile 2040 Fund
o LVIP MFS International Growth Fund
o LVIP Mondrian International Value Fund
o LVIP Multi-Manager Global Equity Managed Volatility Fund
o LVIP SSGA Developed International 150 Fund
o LVIP SSGA Emerging Markets 100 Fund
o LVIP SSGA International Index Fund
o LVIP SSGA Small-Cap Index Fund
o LVIP SSGA Small-Mid Cap 200 Fund
o LVIP T. Rowe Price Structured Mid-Cap Growth Fund
o LVIP Vanguard International Equity ETF Fund
o LVIP Wellington Mid-Cap Value Fund
o MFS (Reg. TM) VIT Growth Series
o MFS (Reg. TM) VIT Utilities Series

All other Subaccounts will be referred to as "Non-Limited Subaccounts" except
ClearBridge Variable Mid Cap Portfolio, Deutsche Alternative Asset Allocation
VIP Portfolio, LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund,
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund, and PIMCO VIT
Commodity Real Return (Reg. TM) Strategy Portfolio which are not available. The
Lincoln SSGA Aggressive Index Model, the Lincoln SSGA Structured Aggressive
Model and the Franklin Templeton Founding Investment Strategy are also
unavailable for investment.

You can select the percentages of Contract Value, if any, allocated to the
Limited Subaccounts, but the cumulative total investment in all the Limited
Subaccounts cannot exceed 35% of the total Contract Value. On each quarterly
anniversary of the effective date of any of these benefits, if the Contract
Value in the Limited Subaccounts exceeds 35%, Lincoln will rebalance your
Contract Value so that the Contract Value in the Limited Subaccounts is 30%. If
you are enrolled in portfolio rebalancing, the cumulative total investment in
all the Limited Subaccounts cannot exceed 35% of total Contract Value. If your
current portfolio rebalancing does not adhere to this requirement, your
portfolio rebalancing program will be terminated.

64
<PAGE>

If rebalancing is required, the Contract Value in excess of 30% will be removed
from the Limited Subaccounts on a pro rata basis and invested in the remaining
Non-Limited Subaccounts on a pro rata basis according to the Contract Value
percentages in the Non-Limited Subaccounts at the time of the reallocation. If
there is no Contract Value in the Non-Limited Subaccounts at that time, all
Contract Value removed from the Limited Subaccounts will be placed in the
Delaware VIP (Reg. TM) Limited-Term Diversified Income Series Subaccount. We
reserve the right to designate a different investment option other than the
Delaware VIP (Reg. TM) Limited-Term Diversified Income Series as the default
investment option should there be no Contract Value in the Non-Limited
Subaccounts. We will provide you with notice of such change. Confirmation of
the rebalancing will appear on your quarterly statement.

We may move Subaccounts on or off the Limited or Non-Limited Subaccount list,
exclude Subaccounts and asset allocation models from being available for
investment, change the number of Limited Subaccount groups, change the
percentages of Contract Value allowed in the Limited or Non-Limited Subaccounts
or change the frequency of the Contract Value rebalancing, at any time, in our
sole discretion. We will not make changes more than once per calendar year. You
will be notified at least 30 days prior to the date of any change. We may make
such modifications at any time when we believe the modifications are necessary
to protect our ability to provide the guarantees under these riders. Our
decision to make modifications will be based on several factors including the
general market conditions and the style and investment objectives of the
Subaccount investments.

At the time you receive notice of a change or when you are notified that we
will begin enforcing the Investment Requirements, you may:

1. submit your own reallocation instructions for the Contract Value in excess
of 35% in the Limited Subaccounts; or

2. take no action and be subject to the quarterly rebalancing as described
above; or

3. terminate the applicable rider immediately, without waiting for a
termination event if you do not wish to be subject to these Investment
Requirements.

Investment Requirements - Option 2

You can select the percentages of Contract Value (includes Account Value if
i4LIFE (Reg. TM) Advantage is in effect) to allocate to individual Subaccounts
within each group, but the total investment for all Subaccounts in a group must
comply with the specified minimum or maximum percentages for that group.

In accordance with these Investment Requirements, you agree to be automatically
enrolled in the portfolio rebalancing option under your contract and thereby
authorize us to automatically rebalance your Contract Value on a periodic
basis. On each quarterly anniversary of the effective date of the rider, we
will rebalance your Contract Value, proportionately, based on your allocation
instructions in effect at the time of the rebalancing. Any reallocation of
Contract Value among the Subaccounts made by you prior to a rebalancing date
will become your allocation instructions for rebalancing purposes. Confirmation
of the rebalancing will appear on your quarterly statement. We reserve the
right to change the rebalancing frequency, at any time, in our sole discretion.
We will not make changes more than once per calendar year. You will be notified
at least 30 days prior to the date of any change in frequency. If we rebalance
Contract Value from the Subaccounts and your allocation instructions do not
comply with the Investment Requirements, then the portion of the rebalanced
Contract Value that does not meet the Investment Requirements will be allocated
to the Delaware VIP (Reg. TM) Limited-Term Diversified Income Series as the
default investment option (or any other Subaccount that we may designate for
that purpose). These investments will become your allocation instructions until
you tell us otherwise.

We may change the list of Subaccounts in a group, change the number of groups,
change the minimum or maximum percentages of Contract Value allowed in a group
or change the investment options that are or are not available to you, at any
time, in our sole discretion. We will not make changes more than once per
calendar year. You will be notified at least 30 days prior to the date of any
change. We may make such modifications at any time when we believe the
modifications are necessary to protect our ability to provide the guarantees
under these riders. Our decision to make modifications will be based on several
factors including the general market conditions and the style and investment
objectives of the Subaccount investments.

At the time you receive notice of a change to the Investment Requirements, you
may:

1. submit your own reallocation instructions for the Contract Value, before the
effective date specified in the notice, so that the Investment Requirements
are satisfied;

2. if you take no action, such changes will apply only to additional Purchase
Payments or to future transfers of contract value. You will not be required
to change allocations to existing Subaccounts, but you will not be allowed
to add money, by either an additional Purchase Payment or a contract
transfer, in excess of the new percentage applicable to a Subaccount or
Subaccount group. This does not apply to Subaccounts added to Investment
Requirements on or after June 30, 2009. For Subaccounts added to Investment
Requirements on or after June 30, 2009, you may be subject to rebalancing as
described above. If this results in a change to your allocation
instructions, then these will be your new allocation instructions until you
tell us otherwise; or

3. terminate the applicable rider immediately, without waiting for a
termination event if you do not wish to be subject to the new terms of the
Investment Requirements.

65
<PAGE>

At this time, the Subaccount groups are as follows:

Group 1 Group 2
Investments must be at least 25% of Contract Investments cannot exceed 75% of Contract
Value or Account Value Value or Account Value
--------------------------------------------------------- -----------------------------------------------

Delaware VIP (Reg. TM) Diversified Income Series All other Subaccounts except those in Group 3
Delaware VIP (Reg. TM) High Yield Series and as discussed below.
Delaware VIP (Reg. TM) Limited-Term Diversified Income
Series
JPMorgan Insurance Trust Core Bond Portfolio
LVIP BlackRock Inflation Protected Bond Fund
LVIP Delaware Bond Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP Dimensional/Vanguard Total Bond Fund
LVIP Global Income Fund
LVIP PIMCO Low Duration Bond Fund
LVIP SSGA Bond Index Fund
LVIP Western Asset Core Bond Fund
Templeton Global Bond VIP Fund

Group 1 Group 3
Investments must be at least 25% of Contract Investments cannot exceed 10% of Contract
Value or Account Value Value or Account Value
--------------------------------------------------------- ------------------------------------------

Delaware VIP (Reg. TM) Diversified Income Series Delaware VIP (Reg. TM) REIT Series
Delaware VIP (Reg. TM) High Yield Series Deutsche Alternative Asset Allocation VIP
Delaware VIP (Reg. TM) Limited-Term Diversified Income Portfolio
Series LVIP SSGA Emerging Markets 100 Fund
JPMorgan Insurance Trust Core Bond Portfolio
LVIP BlackRock Inflation Protected Bond Fund
LVIP Delaware Bond Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP Dimensional/Vanguard Total Bond Fund
LVIP Global Income Fund
LVIP PIMCO Low Duration Bond Fund
LVIP SSGA Bond Index Fund
LVIP Western Asset Core Bond Fund
Templeton Global Bond VIP Fund

The ClearBridge Variable Mid Cap Portfolio, LVIP BlackRock Global Growth ETF
Allocation Managed Risk Fund, LVIP BlackRock U.S. Growth ETF Allocation Managed
Risk Fund, and PIMCO VIT CommodityRealReturn (Reg. TM) Strategy Portfolio are
not available. The fixed account is only available for dollar cost averaging.

To satisfy these Investment Requirements, you may allocate 100% of your
Contract Value or i4LIFE (Reg. TM) Advantage Account Value among the
Subaccounts on the following list, as applicable to your contract. If you
allocate less than 100% of Contract Value or i4LIFE (Reg. TM) Advantage Account
Value to or among these Subaccounts, then these Subaccounts will be considered
as part of Group 1 or 2 above, as applicable, and you will be subject to the
Group 1 or 2 restrictions. In addition, you can allocate 100% of your Contract
Value to the Franklin Templeton Founding Investment Strategy (Franklin Income
VIP Fund 34%, LVIP Franklin Templeton Global Equity Managed Volatility Fund 33%
and Franklin Mutual Shares VIP Fund 33%).

o ALPS/Stadion Core ETF Portfolio
o American Century VP Balanced Fund
o BlackRock Global Allocation V.I. Fund
o Delaware VIP (Reg. TM) Diversified Income Series
o Delaware VIP (Reg. TM) High Yield Series
o Delaware VIP (Reg. TM) Limited-Term Diversified Income Series
o Fidelity (Reg. TM) VIP FundsManager (Reg. TM) 50% Portfolio
o First Trust/Dow Jones Dividend & Income Allocation Portfolio
o Franklin Income VIP Fund
o JPMorgan Insurance Trust Core Bond Portfolio
o LVIP BlackRock Global Allocation V.I. Managed Risk Fund
o LVIP BlackRock Inflation Protected Bond Fund
o LVIP BlackRock Scientific Allocation Fund
o LVIP Delaware Bond Fund
o LVIP Delaware Diversified Floating Rate Fund
o LVIP Delaware Wealth Builder Fund
o LVIP Dimensional/Vanguard Total Bond Fund
o LVIP Franklin Templeton Multi-Asset Opportunities Fund
o LVIP Global Conservative Allocation Managed Risk Fund
o LVIP Global Growth Allocation Managed Risk Fund
o LVIP Global Income Fund
o LVIP Global Moderate Allocation Managed Risk Fund

o LVIP Goldman Sachs Income Builder Fund
o LVIP JPMorgan Retirement Income Fund
o LVIP Managed Risk Profile 2010 Fund
o LVIP Managed Risk Profile 2020 Fund
o LVIP Managed Risk Profile 2030 Fund
o LVIP Managed Risk Profile 2040 Fund
o LVIP PIMCO Low Duration Bond Fund
o LVIP SSGA Bond Index Fund
o LVIP SSGA Conservative Index Allocation Fund
o LVIP SSGA Conservative Structured Allocation Fund
o LVIP SSGA Global Tactical Allocation Managed Volatility Fund
o LVIP SSGA Moderate Index Allocation Fund
o LVIP SSGA Moderate Structured Allocation Fund
o LVIP SSGA Moderately Aggressive Index Allocation Fund
o LVIP SSGA Moderately Aggressive Structured Allocation Fund
o LVIP U.S. Growth Allocation Managed Risk Fund
o LVIP Western Asset Core Bond Fund
o MFS (Reg. TM) VIT Total Return Series
o Putnam VT George Putnam Balanced Fund
o QS Variable Conservative Growth
o Templeton Global Bond VIP Fund

To satisfy these Investment Requirements, Contract Value can be allocated in
accordance with certain asset allocation models, made available to you by your
broker dealer. 100% of the Contract Value can be allocated to one of the
following models: Lincoln SSGA Structured Conservative Model, Lincoln SSGA
Structured Moderate Model, Lincoln SSGA Structured Moderately Aggressive Model,
Lincoln SSGA Structured Moderately Aggressive Equity Model, Lincoln SSGA
Conservative Index Model, Lincoln SSGA Moderate Index Model, Lincoln SSGA
Moderately Aggressive Index Model and Lincoln SSGA Moderately Aggressive Equity
Index Model. You may only choose one asset allocation model at a time, though
you may change to a different asset allocation model available in your

66
<PAGE>

contract that meets the Investment Requirements or reallocate Contract Value
among Group 1, Group 2 or Group 3 Subaccounts as described above. If you
terminate an asset allocation model, you must follow the Investment
Requirements applicable to your rider.

If you purchased the Lincoln Lifetime IncomeSM Advantage Plus rider, your only
investment options until the seventh Benefit Year anniversary are to allocate
100% of your Contract Value to: the LVIP Global Moderate Allocation Managed
Risk Fund, the LVIP Global Conservative Allocation Managed Risk Fund, the LVIP
SSGA Conservative Structured Allocation Fund, the LVIP SSGA Conservative Index
Allocation Fund (each a fund of funds) or the Franklin Income VIP Fund or to
one of the following models: Lincoln SSGA Conservative Index Model, Lincoln
SSGA Moderate Index Model, Lincoln SSGA Structured Conservative Model, and
Lincoln SSGA Structured Moderate Model. After the seventh Benefit Year
anniversary, if your rider continues, you may invest in other Subaccounts in
your contract, subject to Investment Requirements applicable to your purchase
date of Lincoln Lifetime IncomeSM Advantage.

Investment Requirements - Option 3

If you elect Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk), i4LIFE
(Reg. TM) Advantage Guaranteed Income Benefit (Managed Risk) or 4LATER (Reg.
TM) Advantage (Managed Risk), you must allocate your Contract Value in
accordance with the Investment Requirements for Managed Risk Riders section
below.

If you elect any other Living Benefit Rider, you must allocate your Contract
Value in accordance with the Investment Requirements for other Living Benefit
Riders sections below, according to which rider you purchased and the date of
purchase. For all Living Benefit Riders, you can select the percentages of
Contract Value (or Account Value if i4LIFE (Reg. TM) Advantage Guaranteed
Income Benefit is in effect) to allocate to individual Subaccounts within each
group, but the total investment for all Subaccounts within the group must
comply with the specified minimum or maximum percentages for that group.

You must hold the rider for a minimum period of time after election (the
minimum time is specified under the Termination section of each rider). During
this time, you will be required to adhere to the Investment Requirements. After
this time, failure to adhere to the Investment Requirements will result in
termination of the rider.

In accordance with these Investment Requirements, you agree to be automatically
enrolled in the portfolio rebalancing option under your contract and thereby
authorize us to automatically rebalance your Contract Value on a periodic
basis. On each quarterly anniversary of the effective date of the rider, we
will rebalance your Contract Value, proportionately, based on your allocation
instructions in effect at the time of the rebalancing. Any reallocation of
Contract Value among the Subaccounts made by you prior to a rebalancing date
will become your allocation instructions for rebalancing purposes. Confirmation
of the rebalancing will appear on your quarterly statement. If we rebalance
Contract Value from the Subaccounts and your allocation instructions do not
comply with the Investment Requirements, then the portion of the rebalanced
Contract Value that does not meet the Investment Requirements will be allocated
to the Delaware VIP (Reg. TM) Limited-Term Diversified Income Series as the
default investment option or any other Subaccount that we may designate for
that purpose. These investments will become your allocation instructions until
you tell us otherwise.

We may change the list of Subaccounts in a group, change the number of groups,
change the minimum or maximum percentages of Contract Value allowed in a group,
change the investment options that are or are not available to you, or change
the rebalancing frequency at any time in our sole discretion. You will be
notified at least 30 days prior to the date of any change. We may make such
modifications at any time when we believe the modifications are necessary to
protect our ability to provide the guarantees under these riders. Our decision
to make modifications will be based on several factors including the general
market conditions and the style and investment objectives of the Subaccount
investments.

At the time you receive notice of a change to the Investment Requirements, you
may:

1. submit your own reallocation instructions for the Contract Value, before the
effective date specified in the notice, so that the Investment Requirements
are satisfied;

2. take no action and be subject to the quarterly rebalancing as described
above. If this results in a change to your allocation instructions, then
these will be your new allocation instructions until you tell us otherwise;
or

3. terminate the applicable rider immediately, without waiting for a
termination event if you do not wish to be subject to these Investment
Requirements.

Option 3 - Investment Requirements for Managed Risk Riders for all contracts
purchased on and after May 22, 2017. If you elect Lincoln Lifetime IncomeSM
Advantage 2.0 (Managed Risk) or i4LIFE (Reg. TM) Advantage Guaranteed Income
Benefit (Managed Risk) you must currently allocate 100% of your Contract Value
or i4LIFE (Reg. TM) Advantage Account Value among one or more of the following
Subaccounts only.

o LVIP BlackRock Inflation Protected Bond Fund
o LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund
o LVIP Delaware Bond Fund
o LVIP Delaware Diversified Floating Rate Fund
o LVIP Dimensional/Vanguard Total Bond Fund

67
<PAGE>

o LVIP SSGA Bond Index Fund
o LVIP SSGA Global Tactical Allocation Managed Volatility Fund
o LVIP U.S. Growth Allocation Managed Risk Fund
o LVIP Western Asset Core Bond Fund

Option 3 - Investment Requirements for Managed Risk Riders for all contracts
purchased prior to May 22, 2017. If you elect Lincoln Lifetime IncomeSM
Advantage 2.0 (Managed Risk), i4LIFE (Reg. TM) Advantage Guaranteed Income
Benefit (Managed Risk) or 4LATER (Reg. TM) Advantage (Managed Risk), you must
currently allocate your Contract Value among one or more of the following
Subaccounts only. Not all funds may be available, refer to the "Description of
the Funds" section of this prospectus for more information.

Group 1 Group 2
Investments must be at least 20% (30% for Investments cannot exceed 80% (70% for rid-
riders elected prior to January 20, 2015) of ers elected prior to January 20, 2015) of Con-
Contract Value or Account Value tract Value or Account Value
--------------------------------------------------------- -------------------------------------------------

Delaware VIP (Reg. TM) Diversified Income Series LVIP American Century Select Mid Cap Managed
Delaware VIP (Reg. TM) Limited-Term Diversified Income Volatility Fund
Series LVIP BlackRock Dividend Value Managed
JPMorgan Insurance trust Core Bond Portfolio Volatility Fund
LVIP BlackRock Inflation Protected Bond Fund LVIP BlackRock Global Allocation V.I. Managed
LVIP Delaware Bond Fund Risk Fund
LVIP Delaware Diversified Floating Rate Fund LVIP BlackRock Global Growth ETF Allocation
LVIP Dimensional/Vanguard Total Bond Fund Managed Risk Fund
LVIP Global Income Fund (not available for riders LVIP BlackRock U.S. Growth ETF Allocation
purchased on or after May 22, 2017) Managed Risk Fund
LVIP PIMCO Low Duration Bond Fund LVIP Blended Core Equity Managed Volatility
LVIP SSGA Bond Index Fund Fund
LVIP Western Asset Core Bond Fund LVIP Blended Large Cap Growth Managed
Volatility Fund
LVIP Blended Mid Cap Managed Volatility Fund
LVIP ClearBridge Large Cap Managed Volatility
Fund
LVIP Dimensional International Equity Managed
Volatility Fund
LVIP Dimensional U.S. Equity Managed Volatility
Fund
LVIP Franklin Templeton Global Equity Managed
Volatility Fund
LVIP Franklin Templeton Value Managed Volatility
Fund
LVIP Global Conservative Allocation Managed
Risk Fund
LVIP Global Growth Allocation Managed Risk
Fund
LVIP Global Moderate Allocation Managed Risk
Fund
LVIP Invesco Diversified Equity-Income Managed
Volatility Fund
LVIP Invesco Select Equity Managed Volatility
Fund
LVIP JPMorgan Select Mid Cap Value Managed
Volatility Fund
LVIP MFS International Equity Managed Volatility
Fund
LVIP Multi-Manager Global Equity Managed
Volatility Fund
LVIP Select Core Equity Managed Volatility Fund
LVIP SSGA Global Tactical Allocation Managed
Volatility Fund
LVIP SSGA International Managed Volatility Fund
LVIP SSGA Large Cap Managed Volatility Fund
LVIP SSGA SMID Cap Managed Volatility Fund
LVIP U.S. Growth Allocation Managed Risk Fund

Group 1
Investments must be at least 20% (30% for Group 3
riders elected prior to January 20, 2015) of Investments cannot exceed 10% of Contract
Contract Value or Account Value Value or Account Value
--------------------------------------------------------- ------------------------------------------

Delaware VIP (Reg. TM) Diversified Income Series No subaccounts at this time.
Delaware VIP (Reg. TM) Limited-Term Diversified Income
Series
JPMorgan Insurance trust Core Bond Portfolio
LVIP BlackRock Inflation Protected Bond Fund
LVIP Delaware Bond Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP Dimensional/Vanguard Total Bond Fund
LVIP Global Income Fund (not available for riders
purchased on or after May 22, 2017)
LVIP PIMCO Low Duration Bond Fund
LVIP SSGA Bond Index Fund
LVIP Western Asset Core Bond Fund

The fixed account is only available for dollar cost averaging.

68
<PAGE>

As an alternative, to satisfy these Investment Requirements, you may allocate
100% of your Contract Value or i4LIFE (Reg. TM) Advantage Account Value among
the Subaccounts listed below. If you allocate less than 100% of Contract Value
or i4LIFE (Reg. TM) Advantage Account Value among these Subaccounts, then the
Subaccounts listed below that are also listed in Group 1 will be subject to the
Group 1 restrictions. Any remaining Subaccounts listed below that are not
listed in Group 1 will fall into Group 2 and be subject to Group 2
restrictions.

o Delaware VIP (Reg. TM) Diversified Income Series
o Delaware VIP (Reg. TM) Limited-Term Diversified Income Series
o JPMorgan Insurance Trust Core Bond Portfolio
o LVIP BlackRock Global Allocation V.I. Managed Risk Fund
o LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund
o LVIP BlackRock Inflation Protected Bond Fund
o LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund
o LVIP Delaware Bond Fund
o LVIP Delaware Diversified Floating Rate Fund
o LVIP Dimensional/Vanguard Total Bond Fund

o LVIP Global Conservative Allocation Managed Risk Fund
o LVIP Global Growth Allocation Managed Risk Fund
o LVIP Global Income Fund (not available for riders purchased on or after May
22, 2017)
o LVIP Global Moderate Allocation Managed Risk Fund
o LVIP PIMCO Low Duration Bond Fund
o LVIP SSGA Bond Index Fund
o LVIP SSGA Global Tactical Allocation Managed Volatility Fund
o LVIP U.S. Growth Allocation Managed Risk Fund
o LVIP Western Asset Core Bond Fund

69
<PAGE>

Option 3 - Investment Requirements for other Living Benefit Riders purchased on
or after August 29, 2016 (October 3, 2016 for existing Contractowners). If you
elect Lincoln Market Select (Reg. TM) Advantage, Lincoln Max 6 SelectSM
Advantage, 4LATER (Reg. TM) Select Advantage, Lincoln Long-Term CareSM
Advantage or i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit you
must currently allocate your Contract Value among one or more of the following
Subaccounts. Not all funds may be available in your contract, refer to the
"Description of the Funds" section of this prospectus for more information.

Group 2
Investments cannot exceed 70% of Contract Value or
Account Value. If you
Group 1 elect Lincoln Max 6 SelectSM Advantage, investments
Investments must be at least 30% of Contract Value or Account Value. If cannot exceed 80%
you elect Lincoln Max 6 SelectSM Advantage, investments must be at least of Contract Value.
20% of Contract Value. ---------------------------------
-------------------------------------------------------------------------- --------------------

Delaware VIP (Reg. TM) Diversified Income Series AB VPS Small/Mid Cap Value Portfolio
Delaware VIP (Reg. TM) Limited-Term Diversified Income Series ALPS/Stadion Core ETF Portfolio
JPMorgan Insurance Trust Core Bond Portfolio American Century VP Balanced Fund
LVIP BlackRock Inflation Protected Bond Fund American Century VP Large Company Value Fund
LVIP Delaware Bond Fund American Funds Global Growth Fund
LVIP Delaware Diversified Floating Rate Fund American Funds Growth Fund
LVIP Dimensional/Vanguard Total Bond Fund American Funds Growth-Income Fund
LVIP PIMCO Low Duration Bond Fund American Funds International Fund
LVIP SSGA Bond Index Fund BlackRock Global Allocation V.I. Fund
LVIP Western Asset Core Bond Fund ClearBridge Variable Large Cap Growth Portfolio
Delaware VIP (Reg. TM) Small Cap Value Series
Delaware VIP (Reg. TM) U.S. Growth Series
Delaware VIP (Reg. TM) Value Series
Fidelity (Reg. TM) VIP Contrafund (Reg. TM)
Portfolio
Fidelity (Reg. TM) VIP FundsManager (Reg. TM) 50%
Portfolio
Fidelity (Reg. TM) VIP Mid Cap Portfolio
First Trust/Dow Jones Dividend & Income Allocation
Portfolio
Franklin Income VIP Fund
Franklin Mutual Shares VIP Fund
Invesco V.I. Equally-Weighted S&P 500 Fund
Invesco V.I. International Growth Fund
JPMorgan Insurance Trust Global Allocation Portfolio
LVIP American Global Growth Fund
LVIP American Growth Fund
LVIP American Growth-Income Fund
LVIP American International Fund
LVIP Baron Growth Opportunities Fund
LVIP BlackRock Global Allocation V.I. Managed Risk
Fund
LVIP BlackRock Global Growth ETF Allocation Managed
Risk Fund
LVIP BlackRock Scientific Allocation Fund
LVIP BlackRock U.S. Growth ETF Allocation Managed
Risk Fund
LVIP Delaware Social Awareness Fund
LVIP Delaware Special Opportunities Fund
LVIP Delaware Wealth Builder Fund
LVIP Dimensional International Core Equity Fund
LVIP Dimensional U.S. Core Equity 1 Fund
LVIP Dimensional U.S. Core Equity 2 Fund
LVIP Franklin Templeton Multi-Asset Opportunities
Fund
LVIP Global Conservative Allocation Managed Risk
Fund
LVIP Global Growth Allocation Managed Risk Fund
LVIP Global Moderate Allocation Managed Risk Fund
LVIP Goldman Sachs Income Building Fund
LVIP Government Money Market Fund
LVIP JPMorgan High Yield Fund
LVIP JPMorgan Retirement Income Fund
LVIP MFS International Growth Fund
LVIP MFS Value Fund
LVIP Mondrian International Value Fund
LVIP SSGA Conservative Index Allocation Fund
LVIP SSGA Conservative Structured Allocation Fund
LVIP SSGA Developed International 150 Fund
LVIP SSGA Global Tactical Allocation Managed
Volatility Fund
LVIP SSGA International Index Fund
LVIP SSGA Large Cap 100 Fund
LVIP SSGA Mid-Cap Index Fund
LVIP SSGA Moderate Index Allocation Fund
LVIP SSGA Moderate Structured Allocation Fund
LVIP SSGA Moderately Aggressive Index Allocation
Fund
LVIP SSGA Moderately Aggressive Structured
Allocation Fund
LVIP SSGA S&P 500 Index Fund
LVIP SSGA Small-Cap Index Fund
LVIP SSGA Small-Mid Cap 200 Fund
70
LVIP T. Rowe Price Structured Mid-Cap Growth Fund
LVIP U.S. Growth Allocation Managed Risk Fund
LVIP Vanguard Domestic Equity ETF Fund
LVIP Vanguard International Equity ETF Fund
LVIP Wellington Mid-Cap Value Fund
MFS (Reg. TM) VIT Growth Series
MFS (Reg. TM) VIT Total Return Series
Putnam VT George Putnam Balanced Fund
QS Variable Conservative Growth

<PAGE>

o ALPS/Stadion Core ETF Portfolio
o American Century VP Balanced Fund
o BlackRock Global Allocation V.I. Fund
o Delaware VIP (Reg. TM) Diversified Income Series
o Delaware VIP (Reg. TM) Limited-Term Diversified Income Series
o Fidelity (Reg. TM) VIP FundsManager (Reg. TM) 50% Portfolio
o First Trust/Dow Jones Dividend & Income Allocation Portfolio
o JPMorgan Insurance Trust Core Bond Portfolio
o LVIP BlackRock Global Allocation V.I. Managed Risk Fund
o LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund
o LVIP BlackRock Inflation Protected Bond Fund
o LVIP BlackRock Scientific Allocation Fund
o LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund
o LVIP Delaware Bond Fund
o LVIP Delaware Diversified Floating Rate Fund
o LVIP Delaware Wealth Builder Fund
o LVIP Dimensional/Vanguard Total Bond Fund

o LVIP Franklin Templeton Multi-Asset Opportunities Fund
o LVIP Global Conservative Allocation Managed Risk Fund
o LVIP Global Growth Allocation Managed Risk Fund
o LVIP Global Moderate Allocation Managed Risk Fund
o LVIP Goldman Sachs Income Builder Fund
o LVIP JPMorgan Retirement Income Fund
o LVIP PIMCO Low Duration Bond Fund
o LVIP SSGA Bond Index Fund
o LVIP SSGA Conservative Index Allocation Fund
o LVIP SSGA Conservative Structured Allocation Fund
o LVIP SSGA Global Tactical Allocation Managed Volatility Fund
o LVIP SSGA Moderate Index Allocation Fund
o LVIP SSGA Moderate Structured Allocation Fund
o LVIP U.S. Growth Allocation Managed Risk Fund
o LVIP Western Asset Core Bond Fund
o MFS (Reg. TM) VIT Total Return Series
o Putnam VT George Putnam Balanced Fund
o QS Variable Conservative Growth

The fixed account is only available for dollar cost averaging.

71
<PAGE>

Option 3 - Investment Requirements for other Living Benefit Riders purchased on
or after October 5, 2015 and prior to August 29, 2016 (October 3, 2016 for
existing Contractowners). For i4LIFE (Reg. TM) Advantage Guaranteed Income
Benefit (version 4) and Lincoln Long-Term CareSM Advantage riders purchased on
or after October 5, 2015 and prior to August 29, 2016 (October 3, 2016 for
existing Contractowners), you must currently allocate your Contract Value among
one or more of the following Subaccounts only:

Group 1 Group 2
Investments must be at least 30% of Contract Investments cannot exceed 70% of Contract
Value or Account Value Value or Account Value
--------------------------------------------------------- ------------------------------------------------------------

Delaware VIP (Reg. TM) Diversified Income Series AB VPS Small/Mid Cap Value Portfolio
Delaware VIP (Reg. TM) Limited-Term Diversified Income ALPS/Stadion Core ETF Portfolio
Series American Century VP Balanced Fund
JPMorgan Insurance Trust Core Bond Portfolio American Century VP Large Company Value Fund
LVIP BlackRock Inflation Protected Bond Fund American Funds Global Growth Fund
LVIP Delaware Bond Fund American Funds Growth Fund
LVIP Delaware Diversified Floating Rate Fund American Funds Growth-Income Fund
LVIP Dimensional/Vanguard Total Bond Fund American Funds International Fund
LVIP Global Income Fund BlackRock Global Allocation V.I. Fund
LVIP PIMCO Low Duration Bond Fund ClearBridge Variable Large Cap Growth Portfolio
LVIP SSGA Bond Index Fund Delaware VIP (Reg. TM) Small Cap Value Series
LVIP Western Asset Core Bond Fund Delaware VIP (Reg. TM) U.S. Growth Series
Delaware VIP (Reg. TM) Value Series
Fidelity (Reg. TM) VIP Contrafund (Reg. TM) Portfolio
Fidelity (Reg. TM) VIP FundsManager (Reg. TM) 50% Portfolio
Fidelity (Reg. TM) VIP Mid Cap Portfolio
First Trust/Dow Jones Dividend & Income
Allocation Portfolio
Franklin Income VIP Fund
Franklin Mutual Shares VIP Fund
Invesco V.I. Equally-Weighted S&P 500 Fund
Invesco V.I. International Growth Fund
JP Morgan Insurance Trust Global Allocation
Portfolio
LVIP American Global Growth Fund
LVIP American Growth Fund
LVIP American Growth-Income Fund
LVIP American International Fund
LVIP Baron Growth Opportunities Fund
LVIP BlackRock Scientific Allocation Fund
LVIP Delaware Social Awareness Fund
LVIP Delaware Special Opportunities Fund
LVIP Delaware Wealth Builder Fund
LVIP Dimensional International Core Equity Fund
LVIP Dimensional U.S. Core Equity 1 Fund
LVIP Dimensional U.S. Core Equity 2 Fund
LVIP Franklin Templeton Multi-Asset
Opportunities Fund
LVIP Goldman Sachs Income Builder Fund
LVIP Government Money Market Fund
LVIP JPMorgan High Yield Fund
LVIP JPMorgan Retirement Income Fund
LVIP MFS International Growth Fund
LVIP MFS Value Fund
LVIP Mondrian International Value Fund
LVIP SSGA Conservative Index Allocation Fund
LVIP SSGA Conservative Structured Allocation
Fund
LVIP SSGA Developed International 150 Fund
LVIP SSGA International Index Fund
LVIP SSGA Large Cap 100 Fund
LVIP SSGA Mid-Cap Index Fund
LVIP SSGA Moderate Index Allocation Fund
LVIP SSGA Moderate Structured Allocation Fund
LVIP SSGA Moderately Aggressive Index
Allocation Fund
LVIP SSGA Moderately Aggressive Structured
Allocation Fund
LVIP SSGA S&P 500 Index Fund
LVIP SSGA Small-Cap Index Fund
LVIP SSGA Small-Mid Cap 200 Fund
LVIP T. Rowe Price Structured Mid-Cap Growth
Fund
LVIP Vanguard Domestic Equity ETF Fund

Group 1 Group 3
Investments must be at least 30% of Contract Investments cannot exceed 10% of Contract
Value or Account Value Value or Account Value
--------------------------------------------------------- ------------------------------------------------

Delaware VIP (Reg. TM) Diversified Income Series AB VPS Global Thematic Growth Portfolio
Delaware VIP (Reg. TM) Limited-Term Diversified Income American Funds Global Small Capitalization Fund
Series Delaware VIP (Reg. TM) Emerging Markets Series
JPMorgan Insurance Trust Core Bond Portfolio Delaware VIP (Reg. TM) REIT Series
LVIP BlackRock Inflation Protected Bond Fund Delaware VIP (Reg. TM) Smid Cap Core Series
LVIP Delaware Bond Fund Deutsche Alternative Asset Allocation VIP
LVIP Delaware Diversified Floating Rate Fund Portfolio
LVIP Dimensional/Vanguard Total Bond Fund LVIP American Global Small Capitalization Fund
LVIP Global Income Fund LVIP Clarion Global Real Estate Fund
LVIP PIMCO Low Duration Bond Fund LVIP SSGA Emerging Markets 100 Fund
LVIP SSGA Bond Index Fund MFS (Reg. TM) VIT Utilities Series
LVIP Western Asset Core Bond Fund

LVIP Vanguard International Equity ETF Fund
LVIP Wellington Mid-Cap Value Fund
MFS (Reg. TM) VIT Growth Series
MFS (Reg. TM) VIT Total Return Series
Putnam VT George Putnam Balanced Fund
QS Variable Conservative Growth

<PAGE>

The fixed account is only available for dollar cost averaging.

o LVIP Global Income Fund
o LVIP Goldman Sachs Income Builder Fund
o LVIP JPMorgan Retirement Income Fund
o LVIP PIMCO Low Duration Bond Fund
o LVIP SSGA Bond Index Fund
o LVIP SSGA Conservative Index Allocation Fund
o LVIP SSGA Conservative Structured Allocation Fund
o LVIP SSGA Moderate Index Allocation Fund
o LVIP SSGA Moderate Structured Allocation Fund
o LVIP SSGA Moderately Aggressive Index Allocation Fund
o LVIP SSGA Moderately Aggressive Structured Allocation Fund
o LVIP Western Asset Core Bond Fund
o MFS (Reg. TM) VIT Total Return Series
o Putnam VT George Putnam Balanced Fund
o QS Variable Conservative Growth

Option 3 - Investment Requirements for other Living Benefit Riders purchased
prior to October 5, 2015. If you elected a Living Benefit Rider other than
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk), i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit (Managed Risk) or 4LATER (Reg. TM)
Advantage (Managed Risk), prior to October 5, 2015, you must currently allocate
your Contract Value among one or more of the following Subaccounts only:

Delaware VIP (Reg. TM) Diversified Income Series All other Subaccounts except those in Group 3
Delaware VIP (Reg. TM) Limited-Term Diversified Income and as described below.
Series
JPMorgan Insurance Trust Core Bond Portfolio
LVIP BlackRock Inflation Protected Bond Fund
LVIP Delaware Bond Fund
LVIP Delaware Diversified Floating Rate Fund
LVIP Dimensional/Vanguard Total Bond Fund
LVIP Global Income Fund
LVIP PIMCO Low Duration Bond Fund
LVIP SSGA Bond Index Fund
LVIP Western Asset Core Bond Fund
Templeton Global Bond VIP Fund

Delaware VIP (Reg. TM) Diversified Income Series AB VPS Global Thematic Growth Portfolio
Delaware VIP (Reg. TM) Limited-Term Diversified Income Delaware VIP (Reg. TM) Emerging Markets Series
Series Delaware VIP (Reg. TM) REIT Series
JPMorgan Insurance Trust Core Bond Portfolio Deutsche Alternative Asset Allocation VIP
LVIP BlackRock Inflation Protected Bond Fund Portfolio
LVIP Delaware Bond Fund LVIP Clarion Global Real Estate Fund
LVIP Delaware Diversified Floating Rate Fund LVIP SSGA Emerging Markets 100 Fund
LVIP Dimensional/Vanguard Total Bond Fund MFS (Reg. TM) VIT Utilities Series
LVIP Global Income Fund
LVIP PIMCO Low Duration Bond Fund
LVIP SSGA Bond Index Fund
LVIP Western Asset Core Bond Fund
Templeton Global Bond VIP Fund

The ClearBridge Variable Mid Cap Portfolio, Franklin Templeton Founding
Investment Strategy, LVIP BlackRock Global Growth ETF Allocation Managed Risk
Fund, LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund, PIMCO VIT
CommodityRealReturn (Reg. TM) Strategy Portfolio, and Templeton Global Bond VIP
Fund are not available. The fixed account is only available for dollar cost
averaging.

o ALPS/Stadion Core ETF Portfolio
o American Century VP Balanced Fund
o BlackRock Global Allocation V.I. Fund

o Delaware VIP (Reg. TM) Diversified Income Series
o Delaware VIP (Reg. TM) Limited-Term Diversified Income Series
o Fidelity (Reg. TM) VIP FundsManager (Reg. TM) 50% Portfolio

73
<PAGE>

o First Trust/Dow Jones Dividend & Income Allocation Portfolio
o Franklin Income VIP Fund
o JPMorgan Insurance Trust Core Bond Portfolio
o LVIP BlackRock Global Allocation V.I. Managed Risk Fund
o LVIP BlackRock Inflation Protected Bond Fund
o LVIP BlackRock Scientific Allocation Fund
o LVIP Delaware Bond Fund
o LVIP Delaware Diversified Floating Rate Fund
o LVIP Delaware Wealth Builder Fund
o LVIP Dimensional/Vanguard Total Bond Fund
o LVIP Franklin Templeton Multi-Asset Opportunities Fund
o LVIP Global Conservative Allocation Managed Risk Fund
o LVIP Global Growth Allocation Managed Risk Fund
o LVIP Global Income Fund
o LVIP Global Moderate Allocation Managed Risk Fund
o LVIP Goldman Sachs Income Builder Fund
o LVIP JPMorgan Retirement Income Fund
o LVIP Managed Risk Profile 2010 Fund

o LVIP Managed Risk Profile 2020 Fund
o LVIP PIMCO Low Duration Bond Fund
o LVIP SSGA Bond Index Fund
o LVIP SSGA Conservative Index Allocation Fund
o LVIP SSGA Conservative Structured Allocation Fund
o LVIP SSGA Global Tactical Allocation Managed Volatility Fund
o LVIP SSGA Moderate Index Allocation Fund
o LVIP SSGA Moderate Structured Allocation Fund
o LVIP SSGA Moderately Aggressive Index Allocation Fund
o LVIP SSGA Moderately Aggressive Structured Allocation Fund
o LVIP U.S. Growth Allocation Managed Risk Fund
o LVIP Western Asset Core Bond Fund
o MFS (Reg. TM) VIT Total Return Series
o Putnam VT George Putnam Balanced Fund
o QS Variable Conservative Growth
o Templeton Global Bond VIP Fund

To satisfy these Investment Requirements, Contract Value may be allocated in
accordance with certain asset allocation models (depending on when you
purchased your contract) made available to you by your broker-dealer. If so,
currently 100% of the Contract Value can be allocated to one of the following
models: Lincoln SSGA Structured Conservative Model, Lincoln SSGA Structured
Moderate Model, Lincoln SSGA Structured Moderately Aggressive Model, Lincoln
SSGA Conservative Index Model, Lincoln SSGA Moderate Index Model and Lincoln
SSGA Moderately Aggressive Index Model. You may only choose one asset
allocation model at a time, though you may change to a different asset
allocation model available in your contract that meets the Investment
Requirements or reallocate Contract Value among Group 1, Group 2 or Group 3
Subaccounts as described above. These models are not available for contracts
issued on or after November 15, 2010. If you terminate an asset allocation
model, you must follow the Investment Requirements applicable to your rider.

If you purchased the Lincoln Lifetime IncomeSM Advantage Plus rider on or after
January 20, 2009, your only investment options until the seventh Benefit Year
anniversary are to allocate 100% of your Contract Value to: the LVIP Global
Conservative Allocation Managed Risk Fund, the LVIP SSGA Conservative
Structured Allocation Fund or the LVIP SSGA Conservative Index Allocation Fund
(each a fund of funds), or, if your contract was purchased prior to November
15, 2010, to one of the following models: Lincoln SSGA Conservative Index Model
and the Lincoln SSGA Structured Conservative Model. After the seventh Benefit
Year anniversary, if your rider continues, you may invest in other Subaccounts
in your contract, subject to Investment Requirements applicable to your
purchase date of Lincoln Lifetime IncomeSM Advantage.

Living Benefit Riders
The optional Living Benefit Riders offered under this variable annuity contract
are described in the following sections. The riders offer either a minimum
withdrawal benefit (Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk),
Lincoln Market Select (Reg. TM) Advantage, Lincoln Max 6 SelectSM Advantage,
Lincoln Lifetime IncomeSM Advantage 2.0, Lincoln Lifetime IncomeSM Advantage,
and Lincoln SmartSecurity (Reg. TM) Advantage), a minimum Annuity Payout
(i4LIFE (Reg. TM) Advantage with or without the Guaranteed Income Benefit,
4LATER (Reg. TM) Select Advantage, 4LATER (Reg. TM) Advantage (Managed Risk)
and 4LATER (Reg. TM) Advantage), or a qualified long-term care benefit rider
(Lincoln Long-Term CareSM Advantage). Living Benefit Riders which are no longer
available for purchase include: Lincoln SmartSecurity (Reg. TM) Advantage,
Lincoln Lifetime IncomeSM Advantage, Lincoln Lifetime IncomeSM Advantage 2.0,
4LATER (Reg. TM) Advantage (Managed Risk) and 4LATER (Reg. TM) Advantage.
Certain versions of i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit are
also unavailable unless guaranteed under the terms of another rider. An
Appendix to this prospectus provides a detailed description of these Living
Benefit Riders. You may not elect more than one Living Benefit Rider at any one
time. Upon election of a Living Benefit Rider, you will be subject to
Investment Requirements (unless you elect i4LIFE (Reg. TM) Advantage without
the Guaranteed Income Benefit).

Excess Withdrawals under certain Living Benefit Riders may result in a
reduction or premature termination of those benefits or of those riders. If you
are not certain how an Excess Withdrawal will reduce your future guaranteed
amounts, you should contact either your registered representative or us prior
to requesting a withdrawal to find out what, if any, impact the Excess
Withdrawal will have on any guarantees under the Living Benefit Rider. Terms
and conditions may change after the contract is purchased.

The benefits and features of the optional Living Benefit Riders are separate
and distinct from the downside protection strategies that may be employed by
the funds offered under this contract. The riders do not guarantee the
investment results of the funds.

74
<PAGE>

The Living Benefit Riders provide different methods to take income from your
Contract Value or receive lifetime payments and may provide certain guarantees.
There are differences between the riders in the features provided as well as
the charge structure. Before you elect a rider, or terminate your existing
rider to elect a new rider, you should carefully review the terms and
conditions of each rider. If you elect a rider at contract issue, then the
rider will be effective on the contract's effective date.

From time to time, we relax our rules that apply to dropping certain riders and
subsequently adding certain new ones. For example, we may waive the waiting
period and instead permit you to add a new rider immediately after dropping
your old one. We may also let you drop a rider before it has been in effect for
the required holding period. When you drop your old rider, your old rider and
charge will be terminated. As of the date of this prospectus, we currently have
such an offer in place.

If you drop a rider for a new one during a period of time when we do not have
an offer in place or have a different offer, you will not be eligible for any
future offers related to the rider you previously dropped, even if such future
offer would have included a greater or different benefit.

Rate Sheets

A Rate Sheet is a prospectus supplement where we declare the current Guaranteed
Annual Income rates and Guaranteed Income Benefit percentages available under
certain Living Benefit Riders. The Rate Sheet indicates the current rates
and/or current percentages, their effective period, and the date by which your
application or rider election form must be signed and dated for a rider to be
issued with those rates or percentages. The rates and percentages may change
with each Rate Sheet and may be higher or lower than the rates or percentages
on the previous Rate Sheet. The rates and percentages will not change more
frequently than quarterly.

At least 10 days before the end of the indicated effective period, the rates
and percentages for the next effective period will be disclosed in a new Rate
Sheet. In order to get the rate and/or percentage indicated in a Rate Sheet,
your application or rider election form must be signed and dated on or before
the last day of the effective period noted in that Rate Sheet. For new
Contractowners, the current Rate Sheet will be included with this prospectus.
For existing Contractowners, current Rate Sheets will be mailed to you with
your quarterly statement. You can also obtain the most current Rate Sheet
information by contracting your registered representative or online at
www.LincolnFinancial.com. The rates and percentages from previous effective
periods are included in an Appendix to this prospectus.

Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)

All terms that apply to Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)
apply to Lincoln Lifetime IncomeSM Advantage 2.0 except as noted. Lincoln
Lifetime IncomeSM Advantage 2.0 is no longer available for purchase.

Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) is a Living Benefit
Rider available for purchase in your contract that provides:
o Guaranteed lifetime periodic withdrawals for you (and your spouse if the
joint life option is selected) up to the Guaranteed Annual Income amount
which is based upon a guaranteed Income Base (an initial value equal to
either your initial Purchase Payment or Contract Value, if elected after the
contract's effective date);
o A 5% Enhancement to the Income Base (less Purchase Payments received in the
preceding Benefit Year) if greater than an Automatic Annual Step-up so long
as no withdrawals are made in the preceding Benefit Year and the rider is
within an Enhancement Period;
o Automatic Annual Step-ups of the Income Base to the Contract Value if the
Contract Value is equal to or greater than the Income Base after the 5%
Enhancement; and
o Age-based increases to the Guaranteed Annual Income amount (after reaching a
higher age-band and after an Automatic Annual Step-up).

Please note any withdrawals made prior to age 55 or that exceed the Guaranteed
Annual Income amount or that are not payable to the original Contractowner or
original Contractowner's bank account (or to the original Annuitant or the
original Annuitant's bank account, if the owner is a non-natural person)
(Excess Withdrawals) may significantly reduce your Income Base as well as your
Guaranteed Annual Income amount by an amount greater than the dollar amount of
the Excess Withdrawal and will terminate the rider if the Income Base is
reduced to zero. Withdrawals will also negatively impact the availability of
the 5% Enhancement.

In order to purchase Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk),
the Purchase Payment or Contract Value (if purchased after the contract is
issued) must be at least $25,000. This rider provides guaranteed, periodic
withdrawals for your life as Contractowner/Annuitant (single life option) or
for the lives of you as Contractowner/Annuitant and your spouse as Secondary
Life (joint life option) regardless of the investment performance of the
contract. These benefits are subject to certain conditions, as set forth in
this section. The Contractowner, Annuitant or Secondary Life may not be changed
while this rider is in effect (except if the Secondary Life assumes ownership
of the contract upon death of the Contractowner), including any sale or
assignment of the contract as collateral. An Income Base is used to calculate
the Guaranteed Annual Income payment from your contract, but is not available
as a separate benefit upon death or surrender. The Income Base is equal to the
initial Purchase Payment (or Contract Value if elected after contract issue),
increased by subsequent Purchase Payments, Automatic Annual Step-ups and 5%
Enhancements, and

75
<PAGE>

decreased by Excess Withdrawals in accordance with the provisions set forth
below. After the first anniversary of the rider effective date, once cumulative
additional Purchase Payments exceed $100,000, additional Purchase Payments will
be limited to $50,000 per Benefit Year without Home Office approval. No
additional Purchase Payments are allowed if the Contract Value decreases to
zero for any reason. No additional Purchase Payments are allowed after the
Nursing Home Enhancement is requested and approved by us (described later in
this prospectus).

This rider provides for guaranteed, periodic withdrawals up to the Guaranteed
Annual Income amount commencing on or after age 55 (younger of you or your
spouse under the joint life option). The Guaranteed Annual Income payments are
based upon specified percentages of the Income Base. The specified withdrawal
percentages of the Income Base are age based and may increase over time. With
the single life option, you may receive Guaranteed Annual Income payments for
your lifetime. If you purchase the joint life option, Guaranteed Annual Income
amounts for the lifetimes of you and your spouse will be available.

Lincoln Life offers other optional riders available for purchase with its
variable annuity contracts. These riders provide different methods to take
income from your Contract Value and may provide certain guarantees. There are
differences between the riders in the features provided, amount of guaranteed
income, investment options available, as well as the charge structure. The age
at which you may start receiving the Guaranteed Annual Income amount may be
different than the ages that you may receive guaranteed payments under other
riders. In addition, the purchase of one rider may impact the availability of
another rider. Information about the relationship between Lincoln Lifetime
IncomeSM Advantage 2.0 (Managed Risk) and these other riders is included later
in this discussion. Not all riders will be available at all times. You may
consider purchasing Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) if
you want a guaranteed lifetime income payment that may grow as you get older
and may increase through the Automatic Annual Step-up or 5% Enhancement.

Availability. Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) is only
available for election at the time the contract is purchased, unless the
contract was issued prior to August 26, 2013. Lincoln Lifetime IncomeSM
Advantage 2.0 is no longer available for purchase.

Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) is available for
purchase with nonqualified and qualified (IRAs and Roth IRAs) annuity
contracts. The Contractowner/Annuitant as well as the spouse under the joint
life option must be age 85 or younger at the time this rider is elected.

There is no guarantee that Lincoln Lifetime IncomeSM Advantage 2.0 (Managed
Risk) will be available for new purchasers in the future as we reserve the
right to discontinue this benefit at any time. In addition, we may make
different versions of Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)
available to new purchasers. You cannot elect this rider in combination with
any other Living Benefit Rider offered in your contract at the same time.

If you purchased your contract prior to August 26, 2013, and you own a Living
Benefit Rider (other than Lincoln Lifetime IncomeSM Advantage 2.0) and you wish
to elect Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk), you must first
terminate your existing Living Benefit Rider. You must wait at least 12 months
after this termination and also comply with your existing Living Benefit
Rider's termination rules, before you will be able to elect Lincoln Lifetime
IncomeSM Advantage 2.0 (Managed Risk) (if available). For further information
on termination rules, see the "Termination" section associated with your Living
Benefit Rider. In all cases, by terminating your existing Living Benefit Rider,
you will no longer be entitled to any of the benefits that have accrued under
that rider.

If you purchase Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk), you
will be limited in your ability to invest within the Subaccounts offered within
your contract. You will be required to adhere to Investment Requirements -
Option 3 for Managed Risk Riders. If you purchased Lincoln Lifetime IncomeSM
Advantage 2.0, you are required to adhere to Investment Requirements - Option 3
for other Living Benefit Riders.

In addition, the fixed account is not available except for use with dollar cost
averaging. See Investment Requirements for more information.

If you elect this rider at contract issue, it will be effective on the
contract's effective date. For contracts issued prior to August 26, 2013, if
you elect the rider after the contract is issued, the rider will be effective
on the next Valuation Date following approval by us.

Benefit Year. The Benefit Year is the 12-month period starting with the
effective date of the rider and starting with each anniversary of the rider
effective date after that. If your Benefit Year anniversary falls on a day that
the New York Stock Exchange is closed, any benefit calculations scheduled to
occur on that anniversary will occur on the next Valuation Date.

Income Base. The Income Base is a value used to calculate your Guaranteed
Annual Income amount. The Income Base is not available to you as a lump sum
withdrawal or a Death Benefit. The initial Income Base varies based on when you
elect the rider. If you elect the rider at the time you purchase the contract,
the initial Income Base will equal your initial Purchase Payment . If you elect
the rider after we issue the contract, the initial Income Base will equal the
Contract Value on the effective date of the rider. The Income Base is

76
<PAGE>

increased by subsequent Purchase Payments, 5% Enhancements, and Automatic
Annual Step-ups, and decreased by Excess Withdrawals in accordance with the
provisions set forth below. The maximum Income Base is $10 million. This
maximum takes into consideration the total guaranteed amounts under the Living
Benefit Riders of all Lincoln Life contracts (or contracts issued by our
affiliates) in which you (and/or spouse if joint life option) are the covered
lives.

Additional Purchase Payments automatically increase the Income Base by the
amount of the Purchase Payment (not to exceed the maximum Income Base); for
example, a $10,000 additional Purchase Payment will increase the Income Base by
$10,000. After the first anniversary of the rider effective date, once
cumulative additional Purchase Payments exceed $100,000, additional Purchase
Payments will be limited to $50,000 per Benefit Year without Home Office
approval. If after the first Benefit Year cumulative additional Purchase
Payments equal or exceed $100,000, the rider charge will change to the then
current charge in effect on the next Benefit Year anniversary. Additional
Purchase Payments will not be allowed if the Contract Value decreases to zero
for any reason including market loss.

Excess Withdrawals reduce the Income Base as discussed below. Withdrawals less
than or equal to the Guaranteed Annual Income amount will not reduce the Income
Base.

Since the charge for the rider is based on the Income Base, the cost of the
rider increases when additional Purchase Payments, Automatic Annual Step-ups
and 5% Enhancements are made, and the cost decreases as Excess Withdrawals are
made because these transactions all adjust the Income Base. In addition, the
charge rate may change when Automatic Annual Step-ups or 5% Enhancements occur
as discussed below or additional Purchase Payments occur. See Charges and Other
Deductions - Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) Charge.

5% Enhancement. You are eligible for a 5% Enhancement for at least 10 years
from the effective date of the rider. On each Benefit Year anniversary during
an Enhancement Period, the Income Base, minus Purchase Payments received in the
preceding Benefit Year, will be increased by 5% if the Contractowner/Annuitant
(as well as the spouse if the joint life option is in effect) is under age 86
and if there were no withdrawals in the preceding Benefit Year. The original
Enhancement Period is a 10-year period that begins on the effective date of the
rider. A new Enhancement Period begins immediately following an Automatic
Annual Step-up. If during any Enhancement Period there are no Automatic Annual
Step-ups, the 5% Enhancements will stop at the end of the Enhancement Period
and will not restart until the next Benefit Year anniversary following the
Benefit Year anniversary upon which an Automatic Annual Step-up occurs. Any
Purchase Payment made after the initial Purchase Payment will be added
immediately to the Income Base and will result in an increased Guaranteed
Annual Income amount but must be invested in the contract at least one Benefit
Year before it will be used in calculating the 5% Enhancement. Any Purchase
Payments made within the first 90 days after the effective date of the rider
will be included in the Income Base for purposes of calculating the 5%
Enhancement on the first Benefit Year anniversary.

If you decline an Automatic Annual Step-up during the original Enhancement
Period, you will continue to be eligible for the 5% Enhancements through the
end of the current Enhancement Period.

A 5% Enhancement that occurs during the original Enhancement Period will not
cause your rider charge to increase. After the tenth Benefit Year anniversary,
the rider charge could increase to the then current charge at the time a 5%
Enhancement is applied. If your charge rate is increased due to a 5%
Enhancement, you will have the option to opt out of the enhancements after the
tenth Benefit Year. In order to be eligible to receive further 5% Enhancements
the Contractowner/Annuitant (single life option), or the Contractowner and
spouse (joint life option) must be under age 86 and within an Enhancement
Period.

Note: The 5% Enhancement is not available on any Benefit Year anniversary where
there has been a withdrawal of Contract Value (including a Guaranteed Annual
Income payment) in the preceding Benefit Year. A 5% Enhancement will occur in
subsequent years when certain conditions are met. If you are eligible (as
defined above) for the 5% Enhancement in the next year, the enhancement will
not occur until the Benefit Year anniversary of that year.

The following is an example of the impact of the 5% Enhancement on the Income
Base (assuming no withdrawals):

Initial Purchase Payment = $100,000; Income Base = $100,000

Additional Purchase Payment on day 30 = $15,000; Income Base = $115,000

Additional Purchase Payment on day 95 = $10,000; Income Base = $125,000

On the first Benefit Year anniversary, the Income Base will not be less than
$130,750 ($115,000 x 1.05 + $10,000). The $10,000 Purchase Payment on day 95 is
not eligible for the 5% Enhancement until the 2nd Benefit Year anniversary.

As explained below, the 5% Enhancement and Automatic Annual Step-up will not
occur in the same year. If the Automatic Annual Step-up provides a greater
increase to the Income Base, you will not receive the 5% Enhancement. If the
Automatic Annual Step-up and the 5% Enhancement increase the Income Base to the
same amount then you will receive the Automatic Annual Step-up. The 5%
Enhancement or the Automatic Annual Step-up cannot increase the Income Base
above the maximum Income Base of $10 million.

An example of the impact of a withdrawal on the 5% Enhancement is included in
the Withdrawal Amount section below.

77
<PAGE>

If during the first ten Benefit Years your Income Base is increased by the 5%
Enhancement on the Benefit Year anniversary, your charge rate for the rider
will not change on the Benefit Year anniversary. However, the amount you pay
for the rider will increase since the charge for the rider is based on the
Income Base. After the tenth Benefit Year anniversary, if you are in a
subsequent Enhancement Period, the annual rider charge rate may increase to the
current charge rate in any year the Income Base increases as a result of the 5%
Enhancement, but the charge will never exceed the guaranteed maximum annual
charge rate of 2.00%. See Charges and Other Deductions - Rider Charges -
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) Charge.

If your charge rate for this rider is increased due to a 5% Enhancement, you
may opt out of the 5% Enhancement by giving us notice in writing within 30 days
after the Benefit Year anniversary if you do not want your charge rate for the
rider to change. This opt-out will only apply for this particular 5%
Enhancement. You will need to notify us each time thereafter (if an enhancement
would cause your charge rate to increase) if you do not want the 5%
Enhancement. You may not opt out of the 5% Enhancement if the current charge
rate for the rider increases due to additional Purchase Payments made during
the preceding Benefit Year that exceed the $100,000 Purchase Payment
restriction after the first Benefit Year. See Income Base section for more
details.

Automatic Annual Step-ups of the Income Base. The Income Base will
automatically step-up to the Contract Value on each Benefit Year anniversary
if:

a. the Contractowner/Annuitant (single life option), or the Contractowner
and spouse (joint life option) are still living and under age 86; and

b. the Contract Value on that Benefit Year anniversary, after the deduction
of any withdrawals (including the rider charge and account fee), plus any
Purchase Payments made on that date is equal to or greater than the Income
Base after the 5% Enhancement (if any).

Each time the Income Base is stepped up to the current Contract Value as
described above, your charge rate for the rider will be the current charge rate
for the rider, not to exceed the guaranteed maximum charge. Therefore, your
charge rate for this rider could increase every Benefit Year anniversary. See
Charges and Other Deductions - Rider Charges - Lincoln Lifetime IncomeSM
Advantage 2.0 (Managed Risk) Charge.

Each time the Automatic Annual Step-up occurs a new Enhancement Period starts.
The Automatic Annual Step-up is available even in years when a withdrawal has
occurred.

If your charge rate for this rider is increased upon an Automatic Annual
Step-up, you may opt out of the Automatic Annual Step-up by giving us notice in
writing within 30 days after the Benefit Year anniversary if you do not want
your charge rate to change. If you opt out of the step-up, your current charge
rate will remain in effect and the Income Base will be returned to the Income
Base immediately prior to the step-up, adjusted for additional Purchase
Payments or Excess Withdrawals. This opt-out will only apply for this
particular Automatic Annual Step-up. You will need to notify us each time the
charge rate increases if you do not want the step-up. Any increased charges
paid between the time of the step-up and the date we receive your notice to
reverse the step-up will not be reimbursed.

If you decline an Automatic Annual Step-up during the first ten Benefit Years,
you will continue to be eligible for the 5% Enhancement through the end of the
Enhancement Period. A 5% Enhancement that occurs during the original
Enhancement Period will not cause your rider charge to increase. See the 5%
Enhancement section above. You may not opt out of the Automatic Annual Step-up
if an additional Purchase Payment made during that Benefit Year caused the
charge for the rider to increase to the current charge.

Following is an example of how the Automatic Annual Step-ups and the 5%
Enhancement will work (assuming no withdrawals or additional Purchase
Payments):

Potential
Contract Income Base with for Charge
Value 5% Enhancement Income Base to Change
------------- ------------------ ------------- -----------

Initial Purchase Payment $50,000.... $ 47,750* N/A $50,000 N/A
1st Benefit Year anniversary........ $ 54,000 $52,500 $54,000 Yes
2nd Benefit Year anniversary........ $ 53,900 $56,700 $56,700 No
3rd Benefit Year anniversary........ $ 56,000 $59,535 $59,535 No
4th Benefit Year anniversary........ $ 64,000 $62,512 $64,000 Yes

*The beginning Contract Value is the initial Purchase Payment less the 4.5%
sales charge.

On the first Benefit Year anniversary, the Automatic Annual Step-up increased
the Income Base to the Contract Value of $54,000 since the increase in the
Contract Value is greater than the 5% Enhancement amount of $2,500 (5% of
$50,000). On the second Benefit Year anniversary, the 5% Enhancement provided a
larger increase (5% of $54,000 = $2,700). On the third Benefit Year
anniversary, the 5% Enhancement provided a larger increase (5% of $56,700 =
$2,835). On the fourth Benefit Year anniversary, the Automatic Annual Step-up
to the Contract Value was greater than the 5% Enhancement amount of $2,977 (5%
of $59,535). An Automatic Annual Step-up cannot increase the Income Base beyond
the maximum Income Base of $10 million.

78
<PAGE>

Withdrawal Amount. You may make periodic withdrawals up to the Guaranteed
Annual Income amount each Benefit Year for your (Contractowner) lifetime
(single life option) or the lifetimes of you and your spouse (joint life
option) as long as your Guaranteed Annual Income amount is greater than zero.
You may start taking Guaranteed Annual Income withdrawals when you (single life
option) or the younger of you and your spouse (joint life option) turns age 55.
Partial withdrawals to pay the fees associated with your Fee-Based Financial
Plan will reduce the amount of available Guaranteed Annual Income each year.

The initial Guaranteed Annual Income amount is calculated when you purchase the
rider. If you (or younger of you and your spouse if the joint life option is
elected) are under age 55 at the time the rider is elected the initial
Guaranteed Annual Income amount will be zero. If you (or the younger of you and
your spouse if the joint life option is elected) are age 55 or older at the
time the rider is elected the initial Guaranteed Annual Income amount will be
equal to a specified percentage of the Income Base. Upon your first withdrawal
the Guaranteed Annual Income rate is based on your age (single life option) or
the younger of you and your spouse's age (joint life option) at the time of the
withdrawal. For example, if you purchase Lincoln Lifetime IncomeSM Advantage
2.0 (Managed Risk) on or after January 23, 2017, at age 60 (single life
option), your Guaranteed Annual Income rate is 4.25% (see the table below). If
you waited until you were age 65 (single life option) to make your first
withdrawal your Guaranteed Annual Income rate would be 5.25%. During the first
Benefit Year, the Guaranteed Annual Income amount is calculated using the
Income Base as of the effective date of the rider. After the first Benefit Year
anniversary we will use the Income Base calculated on the most recent Benefit
Year anniversary for calculating the Guaranteed Annual Income amount. After
your first withdrawal the Guaranteed Annual Income rate will only increase on a
Benefit Year anniversary on or after you have reached an applicable higher age
band and after there has also been an Automatic Annual Step-up. If you have
reached an applicable age band and there has not also been a subsequent
Automatic Annual Step-up, then the Guaranteed Annual Income rate will not
increase until the next Automatic Annual Step-up occurs. If you do not withdraw
the entire Guaranteed Annual Income amount during a Benefit Year, there is no
carryover of the remaining amount into the next Benefit Year.

Guaranteed Annual Income Rates by Ages:

Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) rider elections on or
after January 23, 2017

Single Life Option Joint Life Option
----------------------------------------- --------------------------------------------------
Age
Guaranteed Annual Income (younger of you and Guaranteed Annual Income
Age rate your spouse's age) rate
----------- -------------------------- --------------------- -------------------------

55 - 58 3.50% 55 - 58 3.50%
59 - 64 4.25% 59 - 64 4.00%
65+ 5.25% 65+ 5.00%

Lincoln Lifetime IncomeSM Advantage 2.0 rider elections on or after May 20,
2013

55 - 58 3.00% 55 - 58 3.00%
59 - 64 3.50% 59 - 64 3.50%
65 - 69 4.50% 65 - 69 4.00%
70+ 5.00% 70+ 4.50%

Note that Guaranteed Annual Income rates for Lincoln Lifetime IncomeSM
Advantage 2.0 (Managed Risk) rider purchased prior to January 23, 2017, and
Lincoln Lifetime IncomeSM Advantage 2.0 riders purchased prior to May 20, 2013,
can be found in an Appendix to this prospectus.

If your Contract Value is reduced to zero for any reason other than for an
Excess Withdrawal, withdrawals equal to the Guaranteed Annual Income amount
will continue automatically for your life (and your spouse's life if
applicable) under the Guaranteed Annual Income Amount Annuity Payout Option.
You may not withdraw the remaining Income Base in a lump sum. You will not be
entitled to the Guaranteed Annual Income amount if the Income Base is reduced
to zero as a result of an Excess Withdrawal. If the Income Base is reduced to
zero due to an Excess Withdrawal the rider will terminate. If the Contract
Value is reduced to zero due to an Excess Withdrawal the rider and contract
will terminate.

Withdrawals equal to or less than the Guaranteed Annual Income amount will not
reduce the Income Base. All withdrawals will decrease the Contract Value.

The following example shows the calculation of the Guaranteed Annual Income
amount for Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) (single life
option) and how withdrawals less than or equal to the Guaranteed Annual Income
amount affect the

79
<PAGE>

Income Base and the Contract Value. The example assumes a 4.25% Guaranteed
Annual Income rate and a Contract Value of $200,000:

Contract Value on the rider's effective date.................... $200,000
Income Base on the rider's effective date....................... $200,000
Initial Guaranteed Annual Income amount on the rider's effective
date ($200,000 x 4.25%)......................................... $ 8,500
Contract Value six months after rider's effective date.......... $210,000
Income Base six months after rider's effective date............. $200,000
Withdrawal six months after rider's effective date.............. $ 8,500
Contract Value after withdrawal ($210,000 - $8,500)............. $201,500
Income Base after withdrawal ($200,000 - $0).................... $200,000
Contract Value on first Benefit Year anniversary................ $205,000
Income Base on first Benefit Year anniversary................... $205,000
Guaranteed Annual Income amount on first Benefit Year
anniversary ($205,000 x 4.25%).................................. $ 8,713

Since there was a withdrawal during the first year, the 5% Enhancement is not
available, but the Automatic Annual Step-up was available and increased the
Income Base to the Contract Value of $205,000. On the first anniversary of the
rider's effective date, the Guaranteed Annual Income amount is $8,713 (4.25% x
$205,000).

Purchase Payments added to the contract subsequent to the initial Purchase
Payment will increase the Guaranteed Annual Income amount by an amount equal to
the applicable Guaranteed Annual Income rate multiplied by the amount of the
subsequent Purchase Payment. For example, assuming a Contractowner has a
Guaranteed Annual Income amount of $2,125 (4.25% of $50,000 Income Base), an
additional Purchase Payment of $10,000 increased the Guaranteed Annual Income
amount that Benefit Year to $2,550 ($2,125 + 4.25% of $10,000). The Guaranteed
Annual Income payment amount will be recalculated immediately after a Purchase
Payment is added to the contract.

After the first anniversary of the rider effective date, once cumulative
additional Purchase Payments exceed $100,000, additional Purchase Payments will
be limited to $50,000 per Benefit Year without Home Office approval. Additional
Purchase Payments will not be allowed if the Contract Value is zero. No
additional Purchase Payments are allowed after the Nursing Home Enhancement is
requested and approved by us (described below).

5% Enhancements and Automatic Annual Step-ups will increase the Income Base and
thus the Guaranteed Annual Income amount. The Guaranteed Annual Income amount
after the Income Base is adjusted either by a 5% Enhancement or an Automatic
Annual Step-up will be equal to the adjusted Income Base multiplied by the
applicable Guaranteed Annual Income rate.

Nursing Home Enhancement. (The Nursing Home Enhancement is not available in
certain states. Please check with your registered representative.) The
Guaranteed Annual Income rate will be increased to 10%, called the Nursing Home
Enhancement, during a Benefit Year when the Contractowner/Annuitant is age 70
or older, or the younger of the Contractowner and spouse is age 70 or older
(joint life option), and one is admitted into an accredited nursing home or
equivalent health care facility. For election of any version of Lincoln
Lifetime IncomeSM Advantage 2.0 prior to May 20, 2013, the Nursing Home
Enhancement is available when the Contractowner/Annuitant is age 65 or older,
or the younger of the Contractowner and spouse is age 65 or older (joint life
option), and one is admitted into an accredited nursing home or equivalent
health care facility. (The Nursing Home Enhancement is not available until the
next Benefit Year anniversary after age 70 (or 65 for rider elections prior to
May 20, 2013) if a withdrawal has been taken since the rider effective date.)
The Nursing Home Enhancement applies if the admittance into such facility
occurs 60 months or more after the effective date of the rider, the individual
was not in the nursing home in the year prior to the effective date of the
rider, and upon entering the nursing home, the person has then been confined
for at least 90 consecutive days. For the joint life option if both spouses
qualify, the Nursing Home Enhancement is available for either spouse, but not
both spouses. You should carefully consider the fact that the enhanced
Guaranteed Annual Income rate is only available for one measuring life before
an election is made. For Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)
elections on and after January 20, 2015, the Nursing Home Enhancement will not
be available if your Contract Value is reduced to zero for any reason,
including withdrawals, market performance, or rider charges.

You may request the Nursing Home Enhancement by filling out a request form
provided by us. Proof of nursing home confinement will be required each year.
If you leave the nursing home, or for Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk) elections on and after January 20, 2015, if your Contract Value
is reduced to zero for any reason, your Guaranteed Annual Income amount will be
reduced to the amount you would otherwise be eligible to receive. Any
withdrawals made prior to the entrance into a nursing home and during the
Benefit Year that the Nursing Home Enhancement commences, will reduce the
amount available that year for the Nursing Home Enhancement. Purchase Payments
may not be made into the contract after a request for the Nursing Home
Enhancement is approved by us and any Purchase Payments made either in the 12
months prior to entering the nursing home or while you are residing in a
nursing home will not be included in the calculation of the Nursing Home
Enhancement.

80
<PAGE>

The requirements of an accredited nursing home or equivalent health care
facility are set forth in the Nursing Home Enhancement Claim Form. The criteria
for the facility include, but are not limited to: providing 24 hour a day
nursing services; an available physician; an employed nurse on duty or call at
all times; maintains daily clinical records; and able to dispense medications.
This does not include an assisted living or similar facility. The admittance to
a nursing home must be pursuant to a plan of care provided by a licensed health
care practitioner, and the nursing home must be located in the United States.
The remaining references to the Guaranteed Annual Income amount also include
the Nursing Home Enhancement amount.

Contractowners in South Dakota who elect any version of Lincoln Lifetime
IncomeSM Advantage 2.0 on or after January 1, 2013, have the option to increase
the Guaranteed Annual Income rate upon the diagnosis of a terminal illness,
subject to certain conditions. The Guaranteed Annual Income amount will be
increased to 10% during a Benefit Year when the Contractowner/Annuitant is age
70 or older or the younger of the Contractowner and spouse is age 70 or older
(joint life option), and one is diagnosed by a licensed physician that his or
her life expectancy is twelve months or less. For election of any version of
Lincoln Lifetime IncomeSM Advantage 2.0 from January 1, 2013 to May 20, 2013,
the terminal illness provision is available when the Contractowner/Annuitant is
age 65 or older, or the younger of the Contractowner and spouse is age 65 or
older (joint life option), and one is diagnosed by a licensed physician that
his or her life expectancy is twelve months or less. (The terminal illness
provision is not available until the next Benefit Year anniversary after age 70
(or 65 for rider elections prior to May 20, 2013) if a withdrawal has been
taken since the rider effective date.) This provision applies if the diagnosis
of terminal illness occurs 60 months or more after the effective date of the
rider and the diagnosis was not made in the year prior to the effective date of
the rider. For the joint life option if both spouses qualify, this provision
for terminal illness is available for either spouse, but not both spouses. You
should carefully consider the fact that the enhanced Guaranteed Annual Income
rate is only available for one measuring life before an election is made. For
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) elections on and after
January 20, 2015, the terminal illness provision will not be available if your
Contract Value is reduced to zero for any reason, including withdrawals, market
performance, or rider charges.

Once either the Nursing Home Enhancement or the terminal illness enhancement is
elected for one spouse, neither enhancement will be available for the other
spouse. You may request the terminal illness enhancement by filling out a
request form provided by us. For Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk) elections on and after January 20, 2015, if your Contract Value
is reduced to zero for any reason, your Guaranteed Annual Income amount will be
reduced to the amount you would otherwise be eligible to receive. Any
withdrawals made prior to the diagnosis of a terminal illness and during the
Benefit Year that the terminal illness enhancement commences will reduce the
amount available that year for the terminal illness enhancement. Purchase
Payments may not be made into the contract after a request for the terminal
illness enhancement is approved by us and any Purchase Payments made either in
the 12 months prior to the terminal illness diagnosis or during the duration of
the terminal illness will not be included in the calculation of the terminal
illness enhancement. Any requirements to qualify for the terminal illness
enhancement are set forth in the Terminal Illness Claim Form. The remaining
references to the Guaranteed Annual Income amount also include the terminal
illness enhancement amount for Contractowners in South Dakota only.

Excess Withdrawals. Excess Withdrawals are the cumulative amounts withdrawn
from the contract during the Benefit Year (including the current withdrawal)
that exceed the Guaranteed Annual Income amount at the time of the withdrawal,
or withdrawals made prior to age 55 (younger of you or your spouse for joint
life) or that are not payable to the original Contractowner or original
Contractowner's bank account (or to the original Annuitant or the original
Annuitant's bank account, if the owner is a non-natural person).

When an Excess Withdrawal occurs:

1. The Income Base is reduced by the same proportion that the Excess
Withdrawal reduces the Contract Value. This means that the reduction in
the Income Base could be more than the dollar amount of the withdrawal;
and

2. The Guaranteed Annual Income amount will be recalculated to equal the
applicable Guaranteed Annual Income rate multiplied by the new (reduced)
Income Base (after the proportionate reduction for the Excess Withdrawal).

We will provide you with quarterly statements that will include the Guaranteed
Annual Income amount (as adjusted for Guaranteed Annual Income amount payments,
Excess Withdrawals and additional Purchase Payments) available to you for the
Benefit Year, if applicable, in order for you to determine whether a withdrawal
may be an Excess Withdrawal. We encourage you to either consult with your
registered representative or call us at the number provided on the front page
of this prospectus if you have questions about Excess Withdrawals.

The following example demonstrates the impact of an Excess Withdrawal on the
Income Base, the Guaranteed Annual Income amount and the Contract Value under
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk). The example assumes
that the Contractowner makes a $12,000 withdrawal, which causes a $12,644
reduction in the Income Base.

Prior to Excess Withdrawal:
Contract Value = $60,000
Income Base = $85,000
Guaranteed Annual Income amount = $3,613 (4.25% of the Income Base of $85,000)

81
<PAGE>

After a $12,000 Withdrawal ($3,613 is within the Guaranteed Annual Income
amount, $8,387 is the Excess Withdrawal):
The Contract Value is reduced by the amount of the Guaranteed Annual Income
amount of $3,613 and the Income Base is not reduced:

Contract Value = $56,387 ($60,000 - $3,613)
Income Base = $85,000

The Contract Value is also reduced by the $8,387 Excess Withdrawal and the
Income Base is reduced by 14.875%, the same proportion by which the Excess
Withdrawal reduced the $56,387 Contract Value ($8,387 - $56,387)

Contract Value = $48,000 ($56,387 - $8,387)
Income Base = $72,357 ($85,000 x 14.875% = $12,644; $85,000 - $12,644 =
$72,356)
Guaranteed Annual Income amount = $3,075 (4.25% of $72,356 Income Base)

On the following Benefit Year anniversary the Contract Value has been reduced
due to a declining market, but the Income Base is unchanged:

Contract Value = $43,000
Income Base = $72,356
Guaranteed Annual Income amount = $3,075 (4.25% x $72,356)

In a declining market, Excess Withdrawals may significantly reduce your Income
Base as well as your Guaranteed Annual Income amount. This is because the
reduction in the benefit may be more than the dollar amount withdrawn from the
Contract Value. If the Income Base is reduced to zero due to an Excess
Withdrawal the rider will terminate. If the Contract Value is reduced to zero
due to an Excess Withdrawal the rider and contract will terminate.

Withdrawals from IRA contracts will be treated as within the Guaranteed Annual
Income amount (even if they exceed the Guaranteed Annual Income amount) only if
the withdrawals are taken as systematic installments of the amount needed to
satisfy the required minimum distribution (RMD) rules under Internal Revenue
Code Section 401(a)(9). In addition, in order for this exception for RMDs to
apply, the following must occur:

1. Lincoln's automatic withdrawal service is used to calculate and pay the
RMD;

2. The RMD calculation must be based only on the value in this contract;

3. No withdrawals other than RMDs are made within the Benefit Year (except
as described in the next paragraph); and

4. This contract is not a beneficiary IRA.

If your RMD withdrawals during a Benefit Year are less than the Guaranteed
Annual Income amount, an additional amount up to the Guaranteed Annual Income
amount may be withdrawn. If a withdrawal, other than an RMD is made during the
Benefit Year, then all amounts withdrawn in excess of the Guaranteed Annual
Income amount, including amounts attributable to RMDs, will be treated as
Excess Withdrawals.

Distributions from qualified contracts are generally taxed as ordinary income.
In nonqualified contracts, withdrawals of Contract Value that exceed Purchase
Payments are taxed as ordinary income. See Federal Tax Matters for a discussion
of the tax consequences of withdrawals.

Guaranteed Annual Income Amount Annuity Payout Option. If you are required to
take annuity payments because you have reached the maturity date of the
contract, you have the option of electing the Guaranteed Annual Income Amount
Annuity Payout Option. If the Contract Value is reduced to zero and you have a
remaining Income Base, you will receive the Guaranteed Annual Income Amount
Annuity Payout Option. If you are receiving the Guaranteed Annual Income Amount
Annuity Payout Option, the Beneficiary may be eligible to receive final payment
upon death of the single life or surviving joint life. To be eligible the Death
Benefit option in effect immediately prior to the effective date of the
Guaranteed Annual Income Amount Annuity Payout Option must be one of the
following Death Benefits: the Guarantee of Principal Death Benefit, the EGMDB
or the EEB rider. If the Account Value Death Benefit option is in effect, the
Beneficiary will not be eligible to receive the final payment(s).

The Guaranteed Annual Income Amount Annuity Payout Option is an Annuity Payout
option under which the Contractowner (and spouse if applicable) will receive
annual annuity payments equal to the Guaranteed Annual Income amount for life
(this option is different from other Annuity Payout options, including i4LIFE
(Reg. TM) Advantage, which are based on your Contract Value). Contractowners
may decide to choose the Guaranteed Annual Income Amount Annuity Payout Option
over i4LIFE (Reg. TM) Advantage if they feel this may provide a higher final
payment option over time and they may place more importance on this over access
to the Account Value. Payment frequencies other than annual may be available.
You will have no other contract features other than the right to receive
annuity payments equal to the Guaranteed Annual Income amount for your life or
the life of you and your spouse for the joint life option.

The final payment is a one-time lump-sum payment. If the effective date of the
rider is the same as the effective date of the contract, the final payment will
be equal to the sum of all Purchase Payments, decreased by withdrawals. If the
effective date of the rider is after the effective date of the contract, the
final payment will be equal to the Contract Value on the effective date of the
rider, increased for

82
<PAGE>

Purchase Payments received after the rider effective date and decreased by
withdrawals. Excess Withdrawals reduce the final payment in the same proportion
as the withdrawals reduce the Contract Value; withdrawals less than or equal to
the Guaranteed Annual Income amount and payments under the Guaranteed Annual
Income Amount Annuity Payout Option will reduce the final payment dollar for
dollar.

Death Prior to the Annuity Commencement Date. Lincoln Lifetime IncomeSM
Advantage 2.0 (Managed Risk) has no provision for a payout of the Income Base
upon death of the Contractowners or Annuitant. In addition, Lincoln Lifetime
IncomeSM Advantage 2.0 (Managed Risk) provides no increase in value to the
Death Benefit over and above what the Death Benefit provides in the base
contract. At the time of death, if the Contract Value equals zero, no Death
Benefit options (as described earlier in this prospectus) will be in effect.
Election of Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) does not
impact the Death Benefit options available for purchase with your annuity
contract. All Death Benefit payments must be made in compliance with Internal
Revenue Code Sections 72(s) or 401(a)(9) as applicable as amended from time to
time. See The Contracts - Death Benefit.

Upon the death of the single life, Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk) will end and no further Guaranteed Annual Income amounts are
available (even if there was an Income Base in effect at the time of the
death). If the Beneficiary elects to continue the contract after the death of
the single life (through a separate provision of the contract), the Beneficiary
may purchase a new Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) if
available under the terms and charge in effect at the time of the new purchase.
There is no carryover of the Income Base.

Upon the first death under the joint life option, withdrawals up to the
Guaranteed Annual Income amount continue to be available for the life of the
surviving spouse. The 5% Enhancement and Automatic Annual Step-up will continue
if applicable as discussed above. Upon the death of the surviving spouse,
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) will end and no further
Guaranteed Annual Income amounts are available (even if there was an Income
Base in effect at the time of the death).

As an alternative, after the first death, the surviving spouse, if under age
86, may choose to terminate the joint life option and purchase a new single
life option, if available, under the terms and charge in effect at the time for
a new purchase. In deciding whether to make this change, the surviving spouse
should consider whether the change will cause the Income Base and the
Guaranteed Annual Income amount to decrease.

Termination. After the fifth anniversary of the effective date of the rider,
the Contractowner may terminate the rider by notifying us in writing of the
request to terminate or by failing to adhere to Investment Requirements.
Contractowners in Florida who elect their rider on or after January 20, 2015,
may terminate the rider after the first anniversary of the effective date of
the rider. Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) will
automatically terminate:
o on the Annuity Commencement Date (except payments under the Guaranteed Annual
Income Amount Annuity Payout Option will continue if applicable);
o upon election of Lincoln Market Select (Reg. TM) Advantage; or
o if the Contractowner or Annuitant is changed (except if the surviving spouse
assumes ownership of the contract upon death of the Contractowner) including
any sale or assignment of the contract or any pledge of the contract as
collateral;
o upon the death under the single life option or the death of the surviving
spouse under the joint life option;
o when the Guaranteed Annual Income amount or Contract Value is reduced to zero
due to an Excess Withdrawal;
o upon surrender of the contract; or
o upon termination of the underlying annuity contract.

The termination will not result in any increase in Contract Value equal to the
Income Base. Upon effective termination of this rider, the benefits and charges
within this rider will terminate. If you terminate the rider, you must wait one
year before you can elect any Living Benefit Rider available for purchase at
that time.

i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit for Contractowners who
transition from any version of Lincoln Lifetime IncomeSM Advantage 2.0. i4LIFE
(Reg. TM) Advantage is an optional Annuity Payout rider that provides periodic
variable income payments for life, the ability to make withdrawals during a
defined period of time (the Access Period) and a Death Benefit during the
Access Period. A minimum payout floor, called the Guaranteed Income Benefit, is
also available for election at the time you elect i4LIFE (Reg. TM) Advantage.
You cannot have both i4LIFE (Reg. TM) Advantage and any version of Lincoln
Lifetime IncomeSM Advantage 2.0 in effect on your contract at the same time.

This discussion applies to Contractowners who previously elected a Lincoln
Lifetime IncomeSM Advantage 2.0 rider and wish to transition to i4LIFE (Reg.
TM) Advantage Guaranteed Income Benefit. Contractowners with Lincoln Lifetime
IncomeSM Advantage 2.0 (Managed Risk) must transition to i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit (Managed Risk). Contractowners with Lincoln
Lifetime IncomeSM Advantage 2.0 must transition to i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit (version 4).

Prior to the Annuity Commencement Date, Contractowners with any active version
of Lincoln Lifetime IncomeSM Advantage 2.0 may decide to later transition to
i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit. This transition is
possible even if i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit is no
longer available for purchase. (Contractowners with Lincoln Lifetime IncomeSM
Advantage 2.0 (Managed

83
<PAGE>

Risk) must elect i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit (Managed
Risk).) Contractowners are also guaranteed that the Guaranteed Income Benefit
percentage and Access Period requirements will be at least as favorable as
those in effect at the time they purchase their Lincoln Lifetime IncomeSM
Advantage 2.0 rider. If you choose to make this transition, the Contractowner
can use the greater of their Income Base reduced by all Guaranteed Annual
Income payments since the last Automatic Annual Step-up (or inception date) or
the Account Value immediately prior to electing i4LIFE (Reg. TM) Advantage to
establish the i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit. This
decision must be made by the maximum age to elect i4LIFE (Reg. TM) Advantage,
which is age 95 for nonqualified contracts and age 80 for qualified contracts.
Purchasers of Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) and
purchasers of Lincoln Lifetime IncomeSM Advantage 2.0 prior to April 2, 2012,
who have waited until after the fifth Benefit Year anniversary may elect i4LIFE
(Reg. TM) Advantage with the applicable version of Guaranteed Income Benefit
until age 99 for nonqualified contracts and age 85 for qualified contracts.

For any version of Lincoln Lifetime IncomeSM Advantage 2.0, if you have the
single life option, and choose to transition to i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit, you must transition to the appropriate version of
i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit single life option. If you
have the joint life option, and choose to transition to i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit, you must transition to the appropriate
version of i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit joint life
option. The minimum length of the i4LIFE (Reg. TM) Advantage Access Period will
vary based upon when you elected your Lincoln Lifetime IncomeSM Advantage 2.0
rider and how long the rider was in effect before you decided to transition to
i4LIFE (Reg. TM) Advantage. These requirements are specifically listed in the
Guaranteed Income Benefit with i4LIFE (Reg. TM) Advantage section of this
prospectus under Impacts to i4LIFE (Reg. TM) Advantage Regular Income Payments.

For nonqualified contracts, the Contractowner must elect the levelized option
for Regular Income Payments. While i4LIFE (Reg. TM) Advantage Guaranteed Income
Benefit (Managed Risk) is in effect, the Contractowner cannot change the
payment mode elected or decrease the length of the Access Period.

When deciding whether to transition from a Lincoln Lifetime IncomeSM Advantage
2.0 rider to i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit, you should
consider that depending on your age (and the age of your spouse under the joint
life option) and the selected length of the Access Period, i4LIFE (Reg. TM)
Advantage may provide a higher payout than the Guaranteed Annual Income amounts
under your Lincoln Lifetime IncomeSM Advantage 2.0 rider. You should consider
electing i4LIFE (Reg. TM) Advantage when you are ready to immediately start
receiving i4LIFE (Reg. TM) Advantage payments whereas with Lincoln Lifetime
IncomeSM Advantage 2.0 you may defer taking withdrawals until a later date.
Payments from a nonqualified contract that a person receives under the i4LIFE
(Reg. TM) Advantage rider are treated as "amounts received as an annuity" under
section 72 of the Internal Revenue Code because the payments occur after the
annuity starting date. These payments are subject to an "exclusion ratio" as
provided in section 72(b) of the Code, which means a portion of each Annuity
Payout is treated as income (taxable at ordinary income tax rates), and the
remainder is treated as a nontaxable return of Purchase Payments. In contrast,
withdrawals under your Lincoln Lifetime IncomeSM Advantage 2.0 rider are not
treated as amounts received as an annuity because they occur prior to the
annuity starting date. As a result, such withdrawals are treated first as a
return of any existing gain in the contract (which is the measure of the extent
to which the Contract Value exceeds Purchase Payments), and then as a
nontaxable return of Purchase Payments.

Lincoln Market Select (Reg. TM) Advantage

Lincoln Market Select (Reg. TM) Advantage is a Living Benefit Rider available
for purchase that provides:
o Guaranteed lifetime periodic withdrawals for you (and your spouse if the
joint life option is selected) up to the Guaranteed Annual Income amount
which is based upon a guaranteed Income Base;
o A 5% Enhancement to the Income Base (less Purchase Payments received in the
preceding Benefit Year) if greater than an Automatic Annual Step-up so long
as no withdrawals are made in the preceding Benefit Year and the rider is
within the Enhancement Period;
o Automatic Annual Step-ups of the Income Base to the Contract Value if the
Contract Value is equal to or greater than the Income Base after the 5%
Enhancement;
o Age-based increases to the Guaranteed Annual Income amount (after reaching a
higher age-band and after an Automatic Annual Step-up).

Please note any withdrawals made prior to age 55 or that exceed the Guaranteed
Annual Income amount or that are payable to any assignee or assignee's bank
account are considered Excess Withdrawals. Excess Withdrawals may significantly
reduce your Income Base as well as your Guaranteed Annual Income amount by an
amount greater than the dollar amount of the Excess Withdrawal, and will
terminate the rider if the Income Base if reduced to zero. Withdrawals will
also negatively impact the 5% Enhancement.

In order to purchase Lincoln Market Select (Reg. TM) Advantage, the initial
Purchase Payment or Contract Value (if purchased after the contract is issued)
must be at least $25,000. This rider provides guaranteed, periodic withdrawals
for your life as Contractowner/Annuitant (single life option) or the lives of
you as Contractowner/Annuitant and your spouse as Secondary Life (joint life
option) regardless of the investment performance of the contract. These
benefits are subject to certain conditions, as set forth in this prospectus.
The Contractowner, Annuitant or Secondary Life may not be changed while this
rider is in effect (except if the Secondary Life assumes

84
<PAGE>

ownership of the contract upon the death of the Contractowner). If the
Contractowner sells or assigns for value the contract other than to the
Annuitant, or discounts or pledges it as collateral for a loan or as a security
for the performance of an obligation or any other purpose, this rider will
terminate.

This rider provides for guaranteed, periodic withdrawals up to the Guaranteed
Annual Income amount commencing after the younger of you or your spouse (joint
life option) reach age 55. The Guaranteed Annual Income payments are based upon
specified percentages of the Income Base, which are age-based and may increase
over time. You may receive Guaranteed Annual Income payments for your lifetime
or for the lifetimes of you and your spouse, if the joint life option is
chosen.

Availability. Lincoln Market Select (Reg. TM) Advantage is available for
election to new Contractowners and to current Contractowners who have
previously purchased the Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)
rider. If you elect the Lincoln Market Select (Reg. TM) Advantage rider at
contract issue, it will be effective on the contract's effective date. If you
terminate an existing rider to elect Lincoln Market Select (Reg. TM) Advantage,
your new rider will be effective on the next Valuation Date following approval
by us.

If Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) is currently in
effect on your contract, and you want to terminate your existing rider and
elect Lincoln Market Select (Reg. TM) Advantage, we are currently waiving the
five-year holding period that is required before terminating a rider. Other
than the termination of your current rider, and the waiver of the holding
period, your contract will not change in any way. We are doing this as a
customer service to you, and there is no financial incentive being provided to
you, your registered representative, or to anyone else if you decide to
terminate your existing Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)
rider and elect Lincoln Market Select (Reg. TM) Advantage.

In general, anytime you terminate a rider, you will no longer be entitled to
any of the benefits that have accrued under that rider. If you decide to drop
your Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) rider and elect
Lincoln Market Select (Reg. TM) Advantage, your current Income Base will
terminate without value. In other words, you cannot transfer your current
Income Base over to Lincoln Market Select (Reg. TM) Advantage. Your initial
Income Base under Lincoln Market Select (Reg. TM) Advantage will be equal to
the Contract Value on the effective date of the Lincoln Market Select (Reg. TM)
Advantage rider. The Income Base is used to calculate your Guaranteed Annual
Income amount and the rider charge. You should carefully compare the features
and benefits provided by your existing rider to the features and benefits
provided by Lincoln Market Select (Reg. TM) Advantage before making your
decision. Lincoln Market Select (Reg. TM) Advantage does not include all the
same features, and it may not provide the same level of guarantee. For example,
it does not offer a Nursing Home Enhancement like Lincoln Lifetime IncomeSM
Advantage 2.0 (Managed Risk) offers. You should also compare the fees and
charges of each rider. If you have any questions about terminating your Lincoln
Lifetime IncomeSM Advantage 2.0 (Managed Risk) rider and electing Lincoln
Market Select (Reg. TM) Advantage, you should contact your registered
representative or call us at the number listed on the first page of this
prospectus.

Lincoln Market Select (Reg. TM) Advantage is available for purchase with
nonqualified and qualified (IRAs and Roth IRAs) annuity contracts. The
Contractowner/Annuitant as well as the spouse under the joint life option must
be age 85 or younger at the time this rider is elected.

There is no guarantee that Lincoln Market Select (Reg. TM) Advantage will be
available for new purchasers in the future as we reserve the right to
discontinue this benefit at any time. In addition, we may make different
versions of Lincoln Market Select (Reg. TM) Advantage available to new
purchasers. You cannot elect this rider in combination with any other Living
Benefit Rider or any other annuity payout option offered in your contract at
the same time.

If you purchase Lincoln Market Select (Reg. TM) Advantage, you will be required
to adhere to Investment Requirements, which will limit your ability to invest
in certain Subaccounts offered in your contract. In addition, the fixed account
is not available except for use with dollar cost averaging. See Investment
Requirements for more information.

Income Base. The Income Base is a value used to calculate your Guaranteed
Annual Income amount. The Income Base is not available to you as a lump sum
withdrawal or a Death Benefit. The Income Base varies based on when you elect
the rider. If you elect the rider at the time you purchase the contract, the
initial Income Base will equal your initial Purchase Payment. If you elect the
rider after we issue the contract, the initial Income Base will equal the
Contract Value on the effective date of the rider. The Income Base is

85
<PAGE>

increased by subsequent Purchase Payments, 5% Enhancements and Automatic Annual
Step-ups, and decreased by Excess Withdrawals in accordance with the provisions
set forth below. The maximum Income Base is $10 million. This maximum takes
into consideration the total guaranteed amounts under the Living Benefit Rider
of all Lincoln Life contracts (or contracts issued by our affiliates) in which
your (and/or spouse if joint life option) are the covered lives.

Additional Purchase Payments automatically increase the Income Base by the
amount of the Purchase Payment (not to exceed the maximum Income Base); for
example, a $10,000 additional Purchase Payment will increase the Income Base by
$10,000. After the first anniversary of the rider effective date, once
cumulative additional Purchase Payments exceed $100,000, additional Purchase
Payments will be limited to $50,000 per Benefit Year without Home Office
approval. Additional Purchase Payments will not be allowed if the Contract
Value decreases to zero for any reason, including market loss. Excess
Withdrawals reduce the Income Base as discussed below. Withdrawals less than or
equal to the Guaranteed Annual Income amount will not reduce the Income Base.

5% Enhancement. On each Benefit Year anniversary, during the Enhancement Period
the Income Base, minus Purchase Payments received in the preceding Benefit
Year, will be increased by 5% if the Contractowner/Annuitant (as well as the
spouse if the joint life option is in effect) are under age 86 and if there
were no withdrawals in the preceding Benefit Year. The Enhancement Period is a
10-year period that begins on the effective date of the rider. Any Purchase
Payments made after the initial Purchase Payment will be added immediately to
the Income Base and will result in an increased Guaranteed Annual Income amount
but must be invested in the contract at least one Benefit Year before it will
be used in calculating the 5% Enhancement. Any Purchase Payments made within
the first 90 days after the effective date of the rider will be included in the
Income Base for purposes of calculating the 5% Enhancement on the first Benefit
Year anniversary.

If you decline an Automatic Annual Step-up during the first ten Benefit years,
you will continue to be eligible for the 5% Enhancements through the end of the
Enhancement Period. In order to be eligible to receive 5% Enhancements, the
Contractowner/Annuitant (single life option), or the Contractowner and spouse
(joint life option) must be under age 86 and within the Enhancement Period.

Note: The 5% Enhancement is not available on any Benefit Year anniversary where
there has been a withdrawal of Contract Value (including a Guaranteed Annual
Income payment) in the preceding Benefit Year. A 5% Enhancement will occur in
subsequent years when certain conditions are met. If you are eligible (as
defined below) for the 5% Enhancement in the next year, the Enhancement will
not occur until the Benefit Year anniversary of that year.

The following is an example of the impact of the 5% Enhancement on the Income
Base (assuming no withdrawals):

Initial Purchase Payment = $100,000; Income Base = $100,000
Additional Purchase Payment on day 30 = $15,000; Income Base = $115,000
Additional Purchase Payment on day 95 = $10,000; Income Base = $125,000

On the first Benefit Year anniversary, the Income Base will not be less than
$130,750 (= $115,000 x 1.05% + $10,000). The $10,000 Purchase Payment on day 95
is not eligible for the 5% Enhancement until the second Benefit Year
anniversary.

The 5% Enhancement will be in effect for 10 years (the Enhancement Period) from
the effective date of the rider. As explained below, the 5% Enhancement and
Automatic Annual Step-up will not occur in the same year. If the Automatic
Annual Step-up provides a greater increase to the Income Base, you will not
receive the 5% Enhancement. If the Automatic Annual Step-up and the 5%
Enhancement increase the Income Base to the same amount then you will receive
the Automatic Annual Step-up. The 5% Enhancement or the Automatic Annual
Step-up cannot increase the Income Base above the maximum Income Base of $10
million.

Automatic Annual Step-ups of the Income Base. The Income Base will
automatically step up to the Contract Value on each Benefit Year anniversary
if:

a. the Contractowner/Annuitant (single life option), or the
Contractowner/Annuitant and spouse (joint life option) are still living
and under age 86; and

The Automatic Annual Step-up is available even in those years when a withdrawal
has occurred.

86
<PAGE>

particular Automatic Annual Step-up. You will need to notify us each time the
charge rate increases if you do not want the step-up. Any increased charges
paid between the time of the step-up and the date we receive your notice to
reverse your step-up will not be reimbursed.

If you decline an Automatic Annual Step-up during the first ten Benefit Years,
you will continue to be eligible for the 5% Enhancement (if applicable) through
the end of the Enhancement Period. You may not opt out of the Automatic Annual
Step-up if an additional Purchase Payment made during that Benefit Year caused
the charge for the rider to increase to the current charge.

Following is an example of how the Automatic Annual Step-ups and the 5%
Enhancements will work (assuming no withdrawals or additional Purchase
Payments):

Potential
Contract Income Base with for Charge
Value 5% Enhancement Income Base to Change
---------- ------------------ ------------- -----------

Initial Purchase Payment $50,000.... $50,000 N/A $50,000 N/A
1st Benefit Year anniversary........ $54,000 $52,500 $54,000 Yes
2nd Benefit Year anniversary........ $53,900 $56,700 $56,700 No
3rd Benefit Year anniversary........ $56,000 $59,535 $59,535 No
4th Benefit Year anniversary........ $64,000 $62,512 $64,000 Yes

On the first Benefit Year anniversary, the Automatic Annual Step-up increased
the Income Base to the Contract Value of $54,000 since the increase in the
Contract Value is greater than the 5% Enhancement amount of $2,500 (5% of
$50,000). On the second Benefit Year anniversary, the 5% Enhancement provided a
larger increase (5% of $54,000 = $2,700). On the third Benefit Year
anniversary, the 5% Enhancement provided a larger increase (5% of $56,700 =
$2,835). On the fourth Benefit Year anniversary, the Automatic Annual Step-up
to the Contract Value was greater than the 5% Enhancement amount of $2,977 (5%
of $59,535). The 5% Enhancement or an Automatic Annual Step-up cannot increase
the Income Base beyond the maximum Income Base of $10 million.

Withdrawal Amount. The Guaranteed Annual Income amount may be withdrawn from
the contract each Benefit Year. As long as the Guaranteed Annual Income amount
is not reduced to zero, these withdrawals may be taken for your lifetime
(single life option) or the lifetimes of you and your spouse (joint life
option). Guaranteed Annual Income withdrawals are available when you (single
life option) or the younger of you and your spouse (joint life option) are age
55 or older. Partial withdrawals to pay the fees associated with your Fee-Based
Financial Plan will reduce the amount of available Guaranteed Annual Income
each year.

The Guaranteed Annual Income amount is determined by multiplying the Income
Base by the applicable rate, based on your age and whether the single or joint
life option has been elected. Under the joint life option, the age of the
younger of you or your spouse will be used. The Guaranteed Annual Income amount
will change upon an Automatic Annual Step-up, 5% Enhancement (if applicable),
additional Purchase Payments, and Excess Withdrawals, as described below.

The Guaranteed Annual Income rates applicable to new rider elections are
determined in our sole discretion based on current economic factors including
interest rates and equity market volatility. Generally, the rates may increase
or decrease based on changes in equity market volatility, prevailing interest
rates, or as a result of other economic conditions. The rate structure is
intended to help us provide the guarantees under the rider. The Guaranteed
Annual Income rates for new rider elections may be higher or lower than prior
rates, but for existing Contractowners that have elected the rider, your
Guaranteed Annual Income rates will not change as a result.

The Guaranteed Annual Income rates applicable to new rider elections are set
forth in a supplement to this prospectus, called a Rate Sheet. The Rate Sheet
indicates the Guaranteed Annual Income rates, the effective period, and the
date by which your application or rider election form must be signed and dated
for a rider to be issued with those rates. The rates may change with each Rate
Sheet and may be higher or lower than the rates on the previous Rate Sheet. The
rates will not change more frequently than quarterly.

At least 10 days before the end of the indicated effective period, the
Guaranteed Annual Income rates for the next effective period will be disclosed
in a new Rate Sheet. In order to get the rates indicated in a Rate Sheet, your
application or rider election form must be signed and dated on or before the
last day of the effective period noted in that Rate Sheet. For new
Contractowners, the current Rate Sheet will be included with this prospectus.
For existing Contractowners, the current Rate Sheets will be mailed to you with
your quarterly statement. You can also obtain the most current Rate Sheet
information by contacting your registered representative or online at
www.LincolnFinancial.com. Guaranteed Annual Income rates from previous
effective periods are included in an appendix to this prospectus.

87
<PAGE>

Annual Step-up, then the Guaranteed Annual Income rate will not increase until
the next Automatic Annual Step-up occurs. If you do not withdraw the entire
Guaranteed Annual Income amount during a Benefit Year, there is no carryover of
the remaining amount into the next Benefit Year.

If your Contract Value is reduced to zero for any reason other than for an
Excess Withdrawal, withdrawals equal to the Guaranteed Annual Income amount
will continue automatically for your life (and your spouse's life if
applicable) under the Guaranteed Annual Income Amount Annuity Payout Option.
You may not withdraw the remaining Income Base in a lump sum. You will not be
entitled to the Guaranteed Annual Income amount if the Income Base is reduced
to zero as a result of an Excess Withdrawal. If either the Contract Value or
the Income Base is reduced to zero due to an Excess Withdrawal, the rider will
terminate.

Withdrawals equal to or less than the Guaranteed Annual Income amount will not
reduce the Income Base. All withdrawals will decrease the Contract Value.

The following example shows the calculation of the Guaranteed Annual Income
amount and how withdrawals less than or equal to the Guaranteed Annual Income
amount impact the Income Base and the Contract Value. The example assumes a 4%
Guaranteed Annual Income rate and a Contract Value of $200,000:

Contract Value on the rider's effective date.................... $200,000
Income Base on the rider's effective date....................... $200,000
Initial Guaranteed Annual Income amount on the rider's effective
date ($200,000 x 4%)............................................ $ 8,000
Contract Value six months after rider's effective date.......... $210,000
Income Base six months after rider's effective date............. $200,000
Withdrawal six months after the rider's effective date.......... $ 8,000
Contract Value after withdrawal ($210,000 - $8,000)............. $202,000
Income Base after withdrawal ($200,000 - $0).................... $200,000
Contract Value on the first Benefit Year anniversary............ $205,000
Income Base on the first Benefit Year anniversary............... $205,000
Guaranteed Annual Income amount on the first Benefit Year
anniversary ($205,000 x 4%)..................................... $ 8,200

Since there was a withdrawal during the first year, the 5% Enhancement is not
available, but the Automatic Annual Step-up was available and increased the
Income Base to the Contract Value of $205,000. On the first Benefit Year
anniversary, the Guaranteed Annual Income amount is $8,200 (4% x $205,000).

Purchase Payments added to the contract subsequent to the initial Purchase
Payment will increase the Guaranteed Annual Income amount by an amount equal to
the applicable Guaranteed Annual Income rate multiplied by the amount of the
subsequent Purchase Payment. For example, assuming a Contractowner has a
Guaranteed Annual Income amount of $2,500 (5% of $50,000 Income Base), an
additional Purchase Payment of $10,000 increases the Guaranteed Annual Income
amount that Benefit Year to $3,000 ($2,500 + 5% of $10,000). The Guaranteed
Annual Income payment amount will be recalculated immediately after a Purchase
Payment is added to the contract.

Automatic Annual Step-ups will increase the Income Base and thus the Guaranteed
Annual Income amount. The Guaranteed Annual Income amount, after the Income
Base is adjusted by a 5% Enhancement or an Automatic Annual Step-up will be
equal to the adjusted Income Base multiplied by the applicable Guaranteed
Annual Income rate.

Excess Withdrawals. Excess Withdrawals are the cumulative amounts withdrawn
from the contract during the Benefit Year (including the current withdrawal)
that exceed the Guaranteed Annual Income amount at the time of the withdrawal,
or withdrawals made prior to age 55 (younger of you or your spouse for joint
life), or withdrawals that are payable to any assignee or assignee's bank
account.

When an Excess Withdrawal occurs:

1. The Income Base is reduced by the same proportion that the Excess Withdrawal
reduces the Contract Value. This means that the reduction in the Income Base
could be more than the dollar amount of the withdrawal; and

We will provide you with quarterly statements that will include the Guaranteed
Annual Income amount (as adjusted for Guaranteed Annual Income amount payments
in a Benefit Year, Excess Withdrawals and additional Purchase Payments)
available to you for the Benefit Year, if applicable, in order for you to
determine whether a withdrawal may be an Excess Withdrawal. We encourage you to
either consult with your registered representative or call us at the number
provided in this prospectus if you have any questions about Excess Withdrawals.

88
<PAGE>

The following example demonstrates the impact of an Excess Withdrawal on the
Income Base, the Guaranteed Annual Income amount, and the Contract Value under
Lincoln Market Select (Reg. TM) Advantage.

The example assumes that the Contractowner makes a $12,000 withdrawal, which
causes an $11,816.14 reduction in the Income Base.

Prior to Excess Withdrawal:
Contract Value = $60,000
Income Base = $85,000
Guaranteed Annual Income amount = $4,250 (5% of the Income Base of $85,000)

After a $12,000 withdrawal ($4,250 is within the Guaranteed Annual Income
amount, $7,750 is the Excess Withdrawal):
The Contract Value is reduced by the amount of the Guaranteed Annual Income
amount of $4,250 and the Income Base is not reduced:
Contract Value = $55,750 ($60,000 - $4,250)
Income Base = $85,000

The Contract Value is also reduced by the $7,750 Excess Withdrawal and the
Income Base is reduced by 13.90134%, the same proportion by which the Excess
Withdrawal reduced the $55,750 Contract Value ($7,750 / $55,750).

Contract Value = $48,000 ($55,750 - $7,750)
Income Base = $73,183.86 ($85,000 x 13.90134% = $11,816.14; $85,000 -
$11,816.14 = $73,183.86)
Guaranteed Annual Income amount = $3,659.19 (5% of $73,183.86 Income Base)

On the following Benefit Year anniversary:

Contract Value = $43,000
Income Base = $73,183.86
Guaranteed Annual Income amount = $3,659.19 (5% x $73,183.86)

In a declining market, Excess Withdrawals may significantly reduce your Income
Base as well as your Guaranteed Annual Income amount. This is because the
reduction in the benefit may be more than the dollar amount withdrawn from the
Contract Value. If the Income Base is reduced to zero due to an Excess
Withdrawal, the rider will terminate. If the Contract Value is reduced to zero
due to an Excess Withdrawal, the rider and contract will terminate.

1. Lincoln's automatic withdrawal service is used to calculate and pay the RMD;

2. The RMD calculation must be based only on the value in this contract;

3. No withdrawals other than RMD's are made within the Benefit Year (except as
described in the next paragraph); and

4. This contract is not a beneficiary IRA.

89
<PAGE>

provide a higher final payment option over time and they may place more
importance on this over access to the Account Value. Payment frequencies other
than annual may be available. You will have no other contract features other
than the right to receive annuity payments equal to the Guaranteed Annual
Income amount for your life or the life of you and your spouse for the joint
life option.

The final payment is a one-time lump-sum payment, if the effective date of the
rider is the same as the effective date of the contract, the final payment will
be equal to the sum of all Purchase Payments, decreased by withdrawals. If the
effective date of the rider is after the effective date of the contract, the
final payment will be equal to the Contract Value on the effective date of the
rider, increased for Purchase Payments received after the rider effective date
and decreased by withdrawals. Excess Withdrawals reduce the final payment in
the same proportion as the withdrawals reduce the Contract Value; withdrawals
less than or equal to the Guaranteed Annual Income amount and payments under
the Guaranteed Annual Income Amount Annuity Payout Option will reduce the final
payment dollar for dollar.

Death Prior to the Annuity Commencement Date. Lincoln Market Select (Reg. TM)
Advantage has no provision for a payout of the Income Base upon death of the
Contractowner or Annuitant. In addition, Lincoln Market Select (Reg. TM)
Advantage provides no increase in value to the Death Benefit over and above
what the Death Benefit provides in the base contract. At the time of death, if
the Contract Value equals zero, no Death Benefit options (as described earlier
in this prospectus) will be in effect. Election of Lincoln Market Select (Reg.
TM) Advantage does not impact the Death Benefit options available for purchase
with your annuity contract. All Death Benefit payments must be made in
compliance with Internal Revenue Code Sections 72(s) or 401(a)(9) as applicable
as amended from time to time. See The Contracts - Death Benefit.

Upon the death of the single life, Lincoln Market Select (Reg. TM) Advantage
will end and no further Guaranteed Annual Income amounts are available (even if
there was an Income Base in effect at the time of the death). Upon the first
death under the joint life option, withdrawals up to the Guaranteed Annual
Income amount continue to be available for the life of the surviving spouse.
The 5% Enhancement and Automatic Annual Step-up will continue, if applicable,
as discussed above. Upon the death of the surviving spouse, Lincoln Market
Select (Reg. TM) Advantage will end and no further Guaranteed Annual Income
amounts are available (even if there was an Income Base in effect at the time
of the death).

Termination. After the fifth Benefit Year anniversary, the Contractowner may
terminate the rider by notifying us in writing of the request to terminate or
by failing to adhere to Investment Requirements. Contractowners in Florida may
terminate their rider at any time after the first Benefit Year anniversary.
Lincoln Market Select (Reg. TM) Advantage will automatically terminate:
o on the Annuity Commencement Date (except payments under the Guaranteed Annual
Income Amount Annuity Payout Option will continue if applicable);
o upon death under the single life option or the death of the surviving spouse
under the joint life option;
o when the Guaranteed Annual Income amount or Contract Value is reduced to zero
due to an Excess Withdrawal;
o if the Contractowner or Annuitant is changed (except if the surviving spouse
assumes ownership of the contract upon death of the Contractowner) including
any sale or assignment of the contract or any pledge of the contract as
collateral;
o on the date the Contractowner is changed pursuant to an enforceable divorce
agreement or decree; or
o upon surrender or termination of the underlying annuity contract.

The termination will not result in any increase in Contract Value equal to the
Income Base. Upon effective termination of this rider, the benefit and charges
within this rider will terminate. If you terminate the rider, you must wait one
year before you can elect any Living Benefit Rider available for purchase at
that time.

i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit option. i4LIFE (Reg. TM)
Advantage is an optional Annuity Payout rider that provides periodic variable
income payments for life, the ability to make withdrawals during a defined
period of time (the Access Period) and a Death Benefit during the Access
Period. A minimum payout floor, called the Guaranteed Income Benefit, is also
available for election at the time you elect i4LIFE (Reg. TM) Advantage. You
cannot have both i4LIFE (Reg. TM) Advantage and Lincoln Market Select (Reg. TM)
Advantage in effect on your contract at the same time.

Contractowners with an active Lincoln Market Select (Reg. TM) Advantage may
decide to later transition to i4LIFE (Reg. TM) Advantage Select Guaranteed
Income Benefit prior to the Annuity Commencement Date, according to the
provisions outlined below. This decision must be made by the maximum age to
elect i4LIFE (Reg. TM) Advantage, which is age 95 for nonqualified contracts
and age 80 for qualified contracts.

If you have the Lincoln Market Select (Reg. TM) Advantage single life option
and choose to transition your rider, you must transition to i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit single life option. If you have the Lincoln
Market Select (Reg. TM) Advantage joint life option and choose to transition
your rider, you must transition to i4LIFE (Reg. TM) Advantage Guaranteed Income
Benefit joint life option. The Access Period requirements are specifically
listed in the Guaranteed Income Benefit with i4LIFE (Reg. TM) Advantage section
of this prospectus under Impacts to i4LIFE (Reg. TM) Advantage Regular Income
Payments.

For nonqualified contracts, the Contractowner must elect the levelized option
for Regular Income Payments. While i4LIFE (Reg. TM) Advantage Select Guaranteed
Income Benefit is in effect, the Contractowner cannot change the payment mode
elected or decrease the length of the Access Period.

90
<PAGE>

When deciding whether to transition from Lincoln Market Select (Reg. TM)
Advantage to i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit, you should
consider that depending on your age (and the age of your spouse under the joint
life option) and the selected length of the Access Period, i4LIFE (Reg. TM)
Advantage may provide a higher payout than the Guaranteed Annual Income amounts
under Lincoln Market Select (Reg. TM) Advantage. You should consider electing
i4LIFE (Reg. TM) Advantage when you are ready to immediately start receiving
i4LIFE (Reg. TM) Advantage payments, whereas with Lincoln Market Select (Reg.
TM) Advantage, you may defer taking withdrawals until a later date. Payments
from a nonqualified contract that a person receives under the i4LIFE (Reg. TM)
Advantage rider are treated as "amounts received as an annuity" under section
72 of the Internal Revenue Code because the payments occur after the annuity
starting date. These payments are subject to an "exclusion ratio" as provided
in section 72(b) of the Code, which means a portion of each Annuity Payout is
treated as income (taxable at ordinary income rates), and the remainder is
treated as a nontaxable return of Purchase Payments. In contrast, withdrawals
under Lincoln Market Select (Reg. TM) Advantage are not treated as amounts
received as an annuity because they occur prior to the annuity starting date.
As a result, such withdrawals are treated first as a return of any existing
gain in the contract (which is the measure of the extent to which the Contract
Value exceeds Purchase Payments), and then as a nontaxable return of Purchase
Payments.

Lincoln Max 6 SelectSM Advantage

Lincoln Max 6 SelectSM Advantage is a Living Benefit Rider available for
purchase beginning on or after May 22, 2017 (or when approved in your state)
that provides:
o Guaranteed lifetime periodic withdrawals for you (and your spouse if the
joint life option is selected) up to the Guaranteed Annual Income amount
which is based upon a guaranteed Income Base;
o An enhancement amount added to the Income Base equal to 6% of the Enhancement
Base (less Purchase Payments received in the preceding Benefit Year) if
greater than an Automatic Annual Step-up so long as no withdrawals are made
in the preceding Benefit Year and the rider is within the Enhancement
Period;
o Automatic Annual Step-ups of the Income Base to the Contract Value if the
Contract Value is equal to or greater than the Income Base after the 6%
Enhancement;
o Age-based increases to the Guaranteed Annual Income amount (after reaching a
higher age-band and after an Automatic Annual Step-up).

Please note any withdrawals made prior to age 55 or that exceed the Guaranteed
Annual Income amount or that are payable to any assignee or assignee's bank
account are considered Excess Withdrawals. Excess Withdrawals may significantly
reduce your Income Base and Enhancement Base as well as your Guaranteed Annual
Income amount by an amount greater than the dollar amount of the Excess
Withdrawal, and will terminate the rider if the Income Base is reduced to zero.
If the Enhancement Base is reduced to zero, you will not be eligible for
further 6% Enhancements. Withdrawals will also negatively impact the
availability of the 6% Enhancement.

In order to purchase Lincoln Max 6 SelectSM Advantage, the initial Purchase
Payment must be at least $25,000. This rider provides guaranteed, periodic
withdrawals for your life as Contractowner/Annuitant (single life option) or
the lives of you as Contractowner/
Annuitant and your spouse as Secondary Life (joint life option) regardless of
the investment performance of the contract. These benefits are subject to
certain conditions, as set forth in this prospectus. The Contractowner,
Annuitant or Secondary Life may not be changed while this rider is in effect
(except if the Secondary Life assumes ownership of the contract upon the death
of the Contractowner). If the Contractowner sells or assigns for value the
contract other than to the Annuitant, or discounts or pledges it as collateral
for a loan or as a security for the performance of an obligation or any other
purpose, this rider will terminate.

This rider provides for guaranteed, periodic withdrawals up to the Guaranteed
Annual Income amount commencing after the younger of you or your spouse (joint
life option) reach age 55. The Guaranteed Annual Income payments are based upon
specified percentages of the Income Base, which are age-based and may increase
over time. Your Guaranteed Annual Income payments will be reduced if your
Contract Value is reduced to zero. You may receive Guaranteed Annual Income
payments for your lifetime or for the lifetimes of you and your spouse, if the
joint life option is chosen.

Lincoln Life offers other optional riders available for purchase with its
variable annuity contracts. These riders provide different methods to take
income from your Contract Value and may provide certain guarantees. There are
differences between the riders in the features provided, investment options
available, as well as the charge rates. The age at which you may start
receiving the Guaranteed Annual Income amount may be different than the ages
that you may receive guaranteed payments under other riders. In addition, the
purchase of one rider may impact the availability of another rider. Not all
riders will be available at all times. You may consider purchasing Lincoln Max
6 SelectSM Advantage if you want a guaranteed lifetime income payment that may
grow as you get older and may increase through the Automatic Annual Step-up and
6% Enhancements to the Income Base. However, these guaranteed payments will be
reduced if your Contract Value is reduced to zero. Additionally, if you decide
to elect i4LIFE (Reg. TM) Advantage in the future, your Income Base under
Lincoln Max 6 SelectSM Advantage will not carry over to i4LIFE (Reg. TM)
Advantage. This rider may be more suitable for you than another available
Living Benefit Rider if you are willing to exchange higher income payments with
potentially lower income in the future if your Contract Value is reduced to
zero.

Availability. Lincoln Max 6 SelectSM Advantage is available for election only
at the time the contract is purchased. If elected, the rider will be effective
on the contract's effective date.

91
<PAGE>

Lincoln Max 6 SelectSM Advantage is available for purchase with nonqualified
and qualified (IRAs and Roth IRAs) annuity contracts. The
Contractowner/Annuitant as well as the spouse under the joint life option must
be age 85 or younger at the time this rider is elected.

There is no guarantee that Lincoln Max 6 SelectSM Advantage will be available
for new purchasers in the future as we reserve the right to discontinue this
benefit at any time. In addition, we may make different versions of Lincoln Max
6 SelectSM Advantage available to new purchasers. You cannot elect this rider
in combination with any other Living Benefit Rider or any other annuity payout
option offered in your contract at the same time.

If you purchase Lincoln Max 6 SelectSM Advantage, you will be required to
adhere to Investment Requirements, which will limit your ability to invest in
certain Subaccounts offered in your contract. In addition, the fixed account is
not available except for use with dollar cost averaging. See Investment
Requirements for more information.

Income Base and Enhancement Base. The Income Base is a value used to calculate
your Guaranteed Annual Income amount. The Income Base is equal to the initial
Purchase Payment, increased by subsequent Purchase Payments, Automatic Annual
Step-ups and 6% Enhancements, and decreased by Excess Withdrawals in accordance
with the provisions set forth below. The maximum Income Base is $10 million.
This maximum takes into consideration the total guaranteed amounts under the
Living Benefit Riders of all Lincoln Life contracts (or contracts issued by our
affiliates) in which you (and/or spouse if joint life option) are the covered
lives.

The Enhancement Base is the value used to calculate the amount that may be
added to the Income Base upon an Enhancement. The Enhancement Base is equal to
the initial Purchase Payment, increased by subsequent Purchase Payments and
Automatic Annual Step-ups, and decreased by Excess Withdrawals in accordance
with the provisions set forth below. The Enhancement Base is not increased by a
6% Enhancement.

Neither the Income Base nor the Enhancement Base is available to you as a lump
sum withdrawal or as a Death Benefit.

Additional Purchase Payments automatically increase the Income Base and the
Enhancement Base by the amount of the Purchase Payment (not to exceed the
maximum Income Base); for example, a $10,000 additional Purchase Payment will
increase the Income Base and Enhancement Base by $10,000. After the first
anniversary of the rider effective date, once cumulative additional Purchase
Payments exceed $100,000, additional Purchase Payments will be limited to
$50,000 per Benefit Year without Home Office approval. Additional Purchase
Payments will not be allowed if the Contract Value decreases to zero for any
reason, including market loss. Excess Withdrawals reduce the Income Base and
Enhancement Base as discussed below. Withdrawals less than or equal to the
Guaranteed Annual Income amount will not reduce the Income Base or Enhancement
Base.

6% Enhancement. On each Benefit Year anniversary, an enhancement amount equal
to 6% of the Enhancement Base, minus Purchase Payments received in the
preceding Benefit Year, will be added to the Income Base, if the
Contractowner/Annuitant (as well as the spouse if the joint life option is in
effect) is under age 86, if there are no withdrawals in the preceding Benefit
Year, the rider is within the Enhancement Period and if the Income Base after
the enhancement amount is added would be greater than the Automatic Annual
Step-up of the Income Base.

The Enhancement Period is a 10-year period that begins on the effective date of
the rider. Any Purchase Payments made after the initial Purchase Payment will
be added immediately to the Income Base and to the Enhancement Base and will
result in an increased Guaranteed Annual Income amount but must be invested in
the contract at least one Benefit Year before it will be used in calculating
and determining if the 6% Enhancement applies. Any Purchase Payments made
within the first 90 days after the effective date of the rider will be included
in the Enhancement Base for purposes of calculating the 6% Enhancement, if
applicable, on the first Benefit Year anniversary.

If you decline an Automatic Annual Step-up during the first 10 Benefit years,
you will continue to be eligible for the 6% Enhancements through the end of the
Enhancement Period. In order to be eligible to receive 6% Enhancements, the
Contractowner/Annuitant (single life option), or the Contractowner and spouse
(joint life option) must be under age 86 and within the Enhancement Period.

Note: The 6% Enhancement is not available on any Benefit Year anniversary if an
Automatic Annual Step-up to the Income Base occurs, or where there has been a
withdrawal of Contract Value (including a Guaranteed Annual Income payment) in
the preceding Benefit Year. A 6% Enhancement will occur in subsequent years
when certain conditions are met. If you are eligible (as defined below) for the
6% Enhancement in the next Benefit Year, the Enhancement will not occur until
the Benefit Year anniversary of that year.

The following is an example of the impact of the 6% Enhancement on the Income
Base (assuming no withdrawals):

Initial Purchase Payment = $100,000; Income Base = $100,000; Enhancement Base =
$100,000
Additional Purchase Payment on day 30 = $15,000; Income Base = $115,000;
Enhancement Base = $115,000
Additional Purchase Payment on day 95 = $10,000; Income Base = $125,000;
Enhancement Base = $125,000

92
<PAGE>

On the first Benefit Year anniversary, the Income Base will not be less than
$131,900 ($115,000 x 1.06% = $121,900 + $10,000). The $10,000 Purchase Payment
on day 95 is not eligible for the 6% Enhancement until the second Benefit Year
anniversary.

The 6% Enhancement will be in effect for 10 years (the Enhancement Period) from
the effective date of the rider. As explained below, the 6% Enhancement and
Automatic Annual Step-up will not occur in the same year. If the Automatic
Annual Step-up provides a greater increase to the Income Base, you will not
receive the 6% Enhancement. If the Automatic Annual Step-up and the 6%
Enhancement increase the Income Base to the same amount, then you will receive
the Automatic Annual Step-up. The 6% Enhancement or the Automatic Annual
Step-up cannot increase the Income Base above the maximum Income Base of $10
million.

Automatic Annual Step-ups of the Income Base. The Income Base and Enhancement
Base will automatically step up to the Contract Value on each Benefit Year
anniversary if:

a. the Contractowner/Annuitant (single life option), or the
Contractowner/Annuitant and spouse (joint life option) are still living
and under age 86; and

The Automatic Annual Step-up is available even when a withdrawal has occurred.

If your charge rate for this rider is increased upon an Automatic Annual
Step-up, you may opt-out of the Automatic Annual Step-up by giving us notice in
writing within 30 days after the Benefit Year anniversary if you do not want
your charge rate to change. If you opt out of the step-up, your current charge
rate will remain in effect and the Income Base and Enhancement Base will be
returned to the Income Base and Enhancement Base immediately prior to the
step-up, adjusted for additional Purchase Payments or Excess Withdrawals, if
any. This opt-out will only apply for this particular Automatic Annual Step-up.
You will need to notify us each time the charge rate increases if you do not
want the step-up. Any increased charges paid between the time of the step-up
and the date we receive your notice to reverse your step-up will not be
reimbursed.

If you decline an Automatic Annual Step-up during the first 10 Benefit Years,
you will continue to be eligible for the 6% Enhancement (if applicable) through
the end of the Enhancement Period and as long as the Contractowner/Annuitant
(single life option), or the Contractowner and spouse (joint life option) are
under age 86. You may not opt out of the Automatic Annual Step-up if an
additional Purchase Payment made during that Benefit Year caused the charge for
the rider to increase to the current charge.

Following is an example of how the Automatic Annual Step-ups and the 6%
Enhancements will work (assuming no withdrawals or additional Purchase
Payments):

Contract Enhancement amount
Value Income Base Enhancement Base added to Income Base
---------- ------------- ------------------ ---------------------

At issue..................... $100,000 $100,000 $100,000 -
1st Benefit Year anniversary...$104,000 $106,000 $100,000 $6,000
2nd Benefit Year anniversary...$107,000 $112,000 $100,000 $6,000
3rd Benefit Year anniversary...$115,000 $118,000 $100,000 $6,000
4th Benefit Year anniversary...$128,000 $128,000 $128,000 N/A
5th Benefit Year anniversary...$131,000 $135,680 $128,000 $7,680

On the first Benefit Year anniversary the Contract Value is higher than the
previous Income Base, but since the 6% Enhancement would increase the Income
Base to a higher amount, the Income Base is increased by the $6,000 Enhancement
amount to $106,000 and the Enhancement Base remains at $100,000.

On the second Benefit Year anniversary the Contract Value is higher than the
previous Income Base, but since the 6% Enhancement would increase the Income
Base to a higher amount, the Income Base is increased by the $6,000 Enhancement
amount to $112,000 and the Enhancement Base remains at $100,000.

On the third Benefit Year anniversary the Contract Value is higher than the
previous Income Base, but since the 6% Enhancement would increase the Income
Base to a higher amount, the Income Base is increased by the $6,000 Enhancement
amount to $118,000 and the Enhancement Base remains at $100,000.

On the fourth Benefit Year anniversary the Contract Value is higher than the
previous Income Base plus the 6% Enhancement, so the Income Base and
Enhancement Base are increased to equal the Contract Value of $128,000.

93
<PAGE>

On the fifth Benefit Year anniversary the Contract Value is higher than the
previous Income Base, but since the 6% Enhancement would increase the Income
Base to a higher amount, the Income Base is increased by the $7,680 (6% of
$128,000) Enhancement amount and the Enhancement Base remains at $128,000.

Withdrawal Amount. The Guaranteed Annual Income amount may be withdrawn from
the contract each Benefit Year. As long as the Guaranteed Annual Income amount
is not reduced to zero, these withdrawals may be taken for your lifetime
(single life option) or the lifetimes of you and your spouse (joint life
option), but will be reduced if your Contract Value is reduced to zero.
Guaranteed Annual Income withdrawals are available when you (single life
option) or the younger of you and your spouse (joint life option) are age 55 or
older. Partial withdrawals to pay the fees associated with your Fee-Based
Financial Plan will reduce the amount of available Guaranteed Annual Income
each year.

The Guaranteed Annual Income amount is determined by multiplying the Income
Base by the applicable rate, based on your age and whether the single or joint
life option has been elected, and whether or not your Contract Value has been
reduced to zero. Under the joint life option, the age of the younger of you or
your spouse will be used. The Guaranteed Annual Income amount will change upon
an Automatic Annual Step-up, 6% Enhancement, additional Purchase Payments, and
Excess Withdrawals, as described below. Additionally, the Guaranteed Annual
Income amount will be reduced if the Contract Value reaches zero.

The Guaranteed Annual Income rate will be based on your age as of the date the
first withdrawal on or after age 55 (based on the age of the younger of you or
your spouse for the joint life option). Thereafter, the Guaranteed Annual
Income rate will only increase upon an Automatic Annual Step-up, and will
decrease once the Contract Value is reduced to zero.

The Guaranteed Annual Income rates applicable to new rider elections are set
forth in a supplement to this prospectus, called a Rate Sheet. The Rate Sheet
indicates the Guaranteed Annual Income rates, its effective period, and the
date by which your application or rider election form must be signed and dated
for a contract to be issued with those rates. The rates may change with each
Rate Sheet and may be higher or lower than the rates on the previous Rate
Sheet. The rates will not change more frequently than quarterly.

At least 10 days before the end of the indicated effective period, the
Guaranteed Annual Income rate for the next effective period will be disclosed
in a new Rate Sheet. In order to get the rate indicated in a Rate Sheet, your
application or rider election form must be signed and dated on or before the
last day of the effective period noted in that Rate Sheet. For new
Contractowners, the current Rate Sheet will be included with this prospectus.
You can also obtain the most current Rate Sheet information by contacting your
registered representative or online at www.LincolnFinancial.com.

During the first Benefit Year the Guaranteed Annual Income amount is calculated
using the Income Base as of the effective date of the rider. After the first
Benefit Year anniversary, the Guaranteed Annual Income amount is calculated
using the Income Base on the most recent Benefit Year anniversary, as adjusted
for additional Purchase Payments, Automatic Annual Step-ups, 6% Enhancements,
and subsequent Excess Withdrawals. After your first Guaranteed Annual Income
withdrawal, the Guaranteed Annual Income rate will only increase on a Benefit
Year anniversary on or after you have reached an applicable higher age band and
after there has also been an Automatic Annual Step-up. If you have reached an
applicable higher age band and there has not also been a subsequent Automatic
Annual Step-up, then the Guaranteed Annual Income rate will not increase until
the next Automatic Annual Step-up occurs. If you do not withdraw the entire
Guaranteed Annual Income amount during a Benefit Year, there is no carryover of
the remaining amount into the next Benefit Year. The Guaranteed Annual Income
rate will be lower if your Contract Value is reduced to zero, which will result
in a reduced Guaranteed Annual Income amount.

Guaranteed Annual Income payments are not available until you have reached age
55 (the younger of you or your spouse under the joint life option). If your
Contract Value is reduced to zero for any reason other than for an Excess
Withdrawal, the Guaranteed Annual Income rate and amount will be immediately
reduced, as reflected on your Rate Sheet. The Guaranteed Annual Income amount
payable as calculated in Table A of the Rate Sheet cannot exceed the remaining
Contract Value. However, if the total Guaranteed Annual Income amounts received
in the Benefit Year your Contract Value is reduced to zero are less than the
recalculated Guaranteed Annual Income amount based on Table B of the Rate
Sheet, the difference is payable for the remainder of that Benefit Year.
Otherwise, you will not be able to receive further Guaranteed Annual Income
payments until the next Benefit Year anniversary. Withdrawals equal to the
Guaranteed Annual Income amount will continue automatically for your life (and
your spouse's life if applicable) under the Guaranteed Annual Income Amount
Annuity Payout Option. You may not withdraw the remaining Income Base or
Enhancement Base in a lump sum. You will not be entitled to the Guaranteed
Annual Income amount if the Income Base is reduced to zero as a result of an
Excess Withdrawal. If either the Contract Value or the Income Base is reduced
to zero due to an Excess Withdrawal, the rider will terminate.

Withdrawals equal to or less than the Guaranteed Annual Income amount will not
reduce the Income Base or Enhancement Base. All withdrawals will decrease the
Contract Value.

94
<PAGE>

The following example shows the calculation of the Guaranteed Annual Income
amount and how withdrawals less than or equal to the Guaranteed Annual Income
amount impact the Income Base, the Enhancement Base, and the Contract Value.
The example assumes a 5% Guaranteed Annual Income rate and a Contract Value of
$200,000 on the rider's effective date:

Contract Value on the rider's effective date....................... $200,000
Income Base and Enhancement Base on the rider's effective date..... $200,000
Initial Guaranteed Annual Income amount on the rider's effective
date ($200,000 x 5%)............................................... $ 10,000
Contract Value six months after rider's effective date............. $212,000
Income Base and Enhancement Base six months after rider's
effective date..................................................... $200,000
Withdrawal six months after rider's effective date................. $ 10,000
Contract Value after withdrawal ($212,000 - $10,000)............... $202,000
Income Base and Enhancement Base after withdrawal ($200,000 -
$0)................................................................ $200,000
Contract Value on first Benefit Year anniversary................... $205,000
Income Base and Enhancement Base on first Benefit Year
anniversary........................................................ $205,000
Guaranteed Annual Income amount on first Benefit Year
anniversary ($205,000 x 5%)........................................ $ 10,250

Since there was a withdrawal during the first year, the 6% Enhancement is not
available, but the Automatic Annual Step-up was available and increased the
Income Base to the Contract Value of $205,000. On the first Benefit Year
anniversary, the Guaranteed Annual Income amount is $10,250 (5% x $205,000).

Purchase Payments added to the contract subsequent to the initial Purchase
Payment will increase the Guaranteed Annual Income amount by an amount equal to
the applicable Guaranteed Annual Income rate multiplied by the amount of the
subsequent Purchase Payment. For example, assuming a Contractowner has a
Guaranteed Annual Income amount of $2,500 (5% of $50,000 Income Base), an
additional Purchase Payment of $10,000 increases the Guaranteed Annual Income
amount that Benefit Year to $3,000 ($2,500 + 5% of $10,000). The Guaranteed
Annual Income payment amount will be recalculated immediately after a Purchase
Payment is added to the contract.

Automatic Annual Step-ups and 6% Enhancements will increase the Income Base and
thus the Guaranteed Annual Income amount. The Guaranteed Annual Income amount,
after the Income Base is adjusted by a 6% Enhancement or an Automatic Annual
Step-up will be equal to the adjusted Income Base multiplied by the applicable
Guaranteed Annual Income rate.

Excess Withdrawals. Excess Withdrawals are the cumulative amounts withdrawn
from the contract during the Benefit Year (including the current withdrawal)
that exceed the Guaranteed Annual Income amount at the time of the withdrawal,
or withdrawals made prior to age 55 (younger of you or your spouse for joint
life), or withdrawals that are payable to any assignee or assignee's bank
account.

When an Excess Withdrawal occurs:

1. The Income Base and the Enhancement Base are reduced by the same proportion
that the Excess Withdrawal reduces the Contract Value. This means that the
reduction in the Income Base and Enhancement Base could be more than the
dollar amount of the withdrawal; and

The following example assumes a 5% Guaranteed Annual Income rate and
demonstrates the impact of an Excess Withdrawal on the Income Base, Enhancement
Base, the Guaranteed Annual Income amount, and the Contract Value under Lincoln
Max 6 SelectSM Advantage.

The Contractowner makes a $12,000 withdrawal which causes an $11,816.14
reduction in the Income Base and Enhancement Base.

Prior to Excess Withdrawal:

Contract Value = $60,000
Income Base = $85,000

95
<PAGE>

Enhancement Base = $85,000
Guaranteed Annual Income amount = $4,250 (5% of the Income Base of $85,000)

Contract Value = $55,750 ($60,000 - $4,250)
Income Base = $85,000
Enhancement Base = $85,000

The Contract Value is also reduced by the $7,750 Excess Withdrawal and the
Income Base and Enhancement Base are reduced by 13.90134%, the same proportion
by which the Excess Withdrawal reduced the $55,750 Contract Value ($7,750 /
$55,750).

Contract Value = $48,000 ($55,750 - $7,750)
Income Base = $73,183.86 ($85,000 x 13.90134% = $11,816.14; $85,000 -
$11,816.14 = $73,183.86)
Enhancement Base = $73,183.86 ($85,000 x 13.90134% = $11,816.14; $85,000 -
$11,816.14 = $73,183.86)
Guaranteed Annual Income amount = $3,659.19 (5% of $73,183.86 Income Base)

On the following Benefit Year anniversary:

Contract Value = $43,000
Income Base = $73,183.86
Guaranteed Annual Income amount = $3,659.19 (5% x $73,183.86)
Enhancement Base = $73,183.86

In a declining market, Excess Withdrawals may significantly reduce your Income
Base, Enhancement Base, and Guaranteed Annual Income amount. This is because
the reduction in the benefit may be more than the dollar amount withdrawn from
the Contract Value. If the Income Base is reduced to zero due to an Excess
Withdrawal, the rider will terminate. If the Contract Value is reduced to zero
due to an Excess Withdrawal, the rider and contract will terminate. If the
Enhancement Base is reduced to zero, you will not be eligible for further 6%
Enhancements.

1. Lincoln's automatic withdrawal service is used to calculate and pay the RMD;

2. The RMD calculation must be based only on the value in this contract;

3. No withdrawals other than RMD's are made within the Benefit Year (except as
described in the next paragraph); and

4. This contract is not a beneficiary IRA.

Guaranteed Annual Income Amount Annuity Payout Option. If you are required to
take annuity payments because you have reached the maturity date of the
contract, and you have remaining Contract Value, you have the option of
electing the Guaranteed Annual Income Amount Annuity Payout Option. If the
Contract Value is reduced to zero and you have a remaining Income Base, you
will receive the Guaranteed Annual Income Amount Annuity Payout Option. If you
are receiving the Guaranteed Annual Income Amount Annuity Payout Option, the
Beneficiary may be eligible to receive final payment upon death of the single
life or surviving joint life. To be eligible the Death Benefit option in effect
immediately prior to the effective date of the Guaranteed Annual Income Amount
Annuity Payout Option must be one of the following Death Benefits: the
Guarantee of Principal Death Benefit or the EGMDB. If the Account Value Death
Benefit option is in effect, the Beneficiary will not be eligible to receive
the final payment(s).

The Guaranteed Annual Income Amount Annuity Payout Option is an Annuity Payout
option under which the Contractowner (and spouse if applicable) will receive
annual annuity payments equal to the Income Base multiplied by the applicable
Guaranteed Annual Income rate shown in Table B of your Rate Sheet, for life.
This option is different from other Annuity Payout options, including i4LIFE
(Reg. TM) Advantage, which are based on your Contract Value. You will have no
other contract features other than the right to receive annuity payments equal
to the Guaranteed Annual Income amount for your life or the life of you and
your spouse for the joint life option.

96
<PAGE>

The final payment is a one-time lump-sum payment and will be equal to the sum
of all Purchase Payments, decreased by withdrawals. Excess Withdrawals reduce
the final payment in the same proportion as the withdrawals reduce the Contract
Value; withdrawals less than or equal to the Guaranteed Annual Income amount
and payments under the Guaranteed Annual Income Amount Annuity Payout Option
will reduce the final payment dollar for dollar.

Death Prior to the Annuity Commencement Date. Lincoln Max 6 SelectSM Advantage
has no provision for a payout of the Income Base or Enhancement Base upon death
of the Contractowner or Annuitant. In addition, Lincoln Max 6 SelectSM
Advantage provides no increase in value to the Death Benefit over and above
what the Death Benefit provides in the base contract. At the time of death, if
the Contract Value equals zero, no Death Benefit options (as described earlier
in this prospectus) will be in effect. Election of Lincoln Max 6 SelectSM
Advantage does not impact the Death Benefit options available for purchase with
your annuity contract. All Death Benefit payments must be made in compliance
with Internal Revenue Code Sections 72(s) or 401(a)(9) as applicable as amended
from time to time. See The Contracts - Death Benefit.

Upon the death of the single life, Lincoln Max 6 SelectSM Advantage will end
and no further Guaranteed Annual Income amounts are available (even if there
was an Income Base in effect at the time of the death). Upon the first death
under the joint life option, withdrawals up to the Guaranteed Annual Income
amount continue to be available for the life of the surviving spouse. The
Automatic Annual Step-up will continue, if applicable, as discussed above. The
6% Enhancement will continue, if applicable, upon the first death under the
joint life option. Upon the death of the surviving spouse, Lincoln Max 6
SelectSM Advantage will end and no further Guaranteed Annual Income amounts are
available (even if there was an Income Base in effect at the time of the
death).

Termination. Prior to the fifth Benefit Year anniversary, the Contractowner may
decide to terminate the rider to elect i4LIFE (Reg. TM) Advantage. After the
fifth Benefit Year anniversary, the Contractowner may terminate the rider by
notifying us in writing of the request to terminate or by failing to adhere to
Investment Requirements. Contractowners in Florida may terminate their rider at
any time after the first Benefit Year anniversary. Lincoln Max 6 SelectSM
Advantage will automatically terminate:
o on the Annuity Commencement Date (except payments under the Guaranteed Annual
Income Amount Annuity Payout Option will continue if applicable);
o upon the election of i4LIFE (Reg. TM) Advantage;
o upon death under the single life option or the death of the surviving spouse
under the joint life option;
o when the Guaranteed Annual Income amount or Contract Value is reduced to zero
due to an Excess Withdrawal;
o if the Contractowner or Annuitant is changed (except if the surviving spouse
assumes ownership of the contract upon death of the Contractowner) including
any sale or assignment of the contract or any pledge of the contract as
collateral;
o on the date the Contractowner is changed pursuant to an enforceable divorce
agreement or decree; or
o upon surrender or termination of the underlying annuity contract.

The termination will not result in any increase in Contract Value equal to the
Income Base or to the Enhancement Base. Upon effective termination of this
rider, the benefit and charges within this rider will terminate. If you
terminate the rider, you must wait one year before you can elect any Living
Benefit Rider available for purchase at that time, except i4LIFE (Reg. TM)
Advantage.

4LATER (Reg. TM) Select Advantage

4LATER (Reg. TM) Select Advantage is a Living Benefit Rider available for
purchase that provides an Income Base which will be used to establish the
amount of the Guaranteed Income Benefit payment upon the election of i4LIFE
(Reg. TM) Advantage. If you elect 4LATER (Reg. TM) Select Advantage, you must
later elect i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit in
order to receive a benefit from 4LATER (Reg. TM) Select Advantage.

Availability. 4LATER (Reg. TM) Select Advantage is available for election to
new Contractowners and to current Contractowners who have previously purchased
the 4LATER (Reg. TM) Advantage (Managed Risk) rider. If you elect the 4LATER
(Reg. TM) Select Advantage rider at contract issue, it will be effective on the
contract's effective date. If you terminate an existing rider to elect 4LATER
(Reg. TM) Select Advantage, your new rider will be effective on the next
Valuation Date following approval by us. To elect 4LATER (Reg. TM) Select
Advantage, the Contractowner, Annuitants and Secondary Life under the joint
life option must be age 85 or younger.

If 4LATER (Reg. TM) Advantage (Managed Risk) is currently in effect on your
contract, and you want to terminate the existing rider and elect 4LATER (Reg.
TM) Select Advantage, we are currently waiving the five-year waiting period
that is required before terminating a rider. Other than the termination of your
current rider, and the waiver of the holding period, your contract will not
change in any way. Any applicable existing or future surrender charges will
continue to apply, as described in your contract and this prospectus. We are
doing this as a customer service to you, and there is no financial incentive
being provided to you, your registered representative, or to anyone else if you
decide to terminate your existing 4LATER (Reg. TM) Advantage (Managed Risk)
rider and elect 4LATER (Reg. TM) Select Advantage.

Before electing 4LATER (Reg. TM) Select Advantage, you must first terminate
your existing rider, and you will no longer be entitled to any of the benefits
that have accrued under that rider. You cannot transfer your current Income
Base over to 4LATER (Reg. TM) Select Advantage. You should carefully compare
the features and benefits provided by your existing rider to the features and
benefits provided by 4LATER (Reg. TM) Select Advantage before making your
decision.

97
<PAGE>

4LATER (Reg. TM) Select Advantage is not available for purchase with qualified
contracts and is designed primarily for purchasers of nonqualifed contracts
where the Contractowner and Annuitant are different people (single life option)
or with joint life benefits where the Secondary Life is not a spouse.

There is no guarantee that 4LATER (Reg. TM) Select Advantage will be available
for new purchasers in the future and we reserve the right to discontinue this
benefit at any time. In addition, we may make different versions of 4LATER
(Reg. TM) Select Advantage available to new purchasers. You cannot elect the
rider and any other Living Benefit Rider or any other payout option offered in
your contract at the same time.

If you purchase 4LATER (Reg. TM) Select Advantage, you will be required to
adhere to Investment Requirements, which will limit your ability to invest in
certain Subaccounts offered in your contract. In addition, the fixed account is
not available except for use with dollar cost averaging. See Investment
Requirements for more information.

Income Base. The Income Base is an amount used to calculate the Guaranteed
Income Benefit under i4LIFE (Reg. TM) Advantage Select Guaranteed Income
Benefit at a later date. The Income Base is not available to you as a lump sum
withdrawal or as a Death Benefit. The initial Income Base varies based on when
you elect the rider. If you elect 4LATER (Reg. TM) Select Advantage at the time
you purchase the contract, the Income Base will be equal to the initial
Purchase Payment. If you elect the rider after you purchase the contract, the
initial Income Base will equal the Contract Value on the effective date of
4LATER (Reg. TM) Select Advantage. The maximum Income Base is $10 million. The
maximum takes into consideration the total guaranteed amounts from all Lincoln
Life contracts (or contracts issued by our affiliates) in which you (and/or
Secondary Life, if joint life option) are the covered lives.

Additional Purchase Payments automatically increase the Income Base by the
amount of the Purchase Payments (not to exceed the maximum Income Base). For
example, an additional Purchase Payment of $10,000 will increase the Income
Base by $10,000. After the first anniversary of the rider effective date, once
cumulative additional Purchase Payments exceed $100,000, additional Purchase
Payments will be limited to $50,000 per Benefit Year without Home Office
approval. If after the first Benefit Year cumulative additional Purchase
Payments equal or exceed $100,000, the charge for 4LATER (Reg. TM) Select
Advantage will change to the then current charge in effect on the next Benefit
Year anniversary. Additional Purchase Payments will not be allowed if the
Contract Value decreases to zero for any reason, including market loss.

Each withdrawal (including withdrawals to pay the fees for Fee-Based Financial
Plans) reduces the Income Base in the same proportion as the amount withdrawn
reduces the Contract Value on the Valuation Date of the withdrawal. This means
that the reduction in the Income Base could be more than the dollar amount of
the withdrawal.

The following example demonstrates the impact of a withdrawal on the Income
Base and the Contract Value. The Contractowner makes a withdrawal of $11,200
which causes a $12,550 reduction in the Income Base.

Prior to the withdrawal:
Contract Value = $112,000
Income Base = $125,500

After a withdrawal of $11,200, the Contract Value is reduced by 10% ($11,200)
and the Income Base is also reduced by 10%, the same proportion by which the
withdrawal reduced the Contract Value ($11,200 - $112,000)

Contract Value = $100,800 ($112,000 - $11,200)
Income Base = $112,950 ($125,500 x 10% = $12,550; $125,500 - $12,550 =
$112,950)

In a declining market, withdrawals may significantly reduce your Income Base,
and as a result will reduce your future Guaranteed Income Benefit. If the
Income Base is reduced to zero due to withdrawals, this rider will terminate.
If the Contract Value is reduced to zero due to a withdrawal, both the rider
and the contract will terminate.

Automatic Annual Step-up. The Income Base will automatically step-up to the
Contract Value on each Benefit Year anniversary if:

a. the Annuitant (single life option), or the Secondary Life (joint life
option) are still living and under age 86; and

b. the Contract Value on that Benefit Year anniversary, after the deduction
of any withdrawals (including the rider charge and account fee), plus any
Purchase Payments made on that date and Persistency Credits, if
applicable, added on that date, is equal to or greater than the Income
Base after the 5% Enhancement (if any).

The Automatic Annual Step-up is available even in years in which a withdrawal
has occurred.

5% Enhancement. On each Benefit Year anniversary, the Income Base, minus
Purchase Payments received in the preceding Benefit Year, will be increased by
5% if:

a. the Annuitant (as well as the Secondary Life if the joint life option is
in effect) are under age 86; and

98
<PAGE>

b. if there were no withdrawals in the preceding Benefit Year; and

c. the rider is within the Enhancement Period described below.

The Enhancement Period is a 10-year period that begins on the effective date of
the rider.

Any Purchase Payment made after the initial Purchase Payment will be added
immediately to the Income Base. However, any new Purchase Payment must be
invested in the contract for at least one Benefit Year before it will be used
in calculating the 5% Enhancement. Any Purchase Payments made within the first
90 days after the effective date of 4LATER (Reg. TM) Select Advantage will be
included in the Income Base for purposes of calculating the 5% Enhancement on
the first Benefit Year anniversary.

If you decline the Automatic Annual Step-up during the first 10 Benefit Years,
you will continue to be eligible for the 5% Enhancements as long as you meet
the conditions listed above.

Note: The 5% Enhancement is not available in any Benefit Year there is a
withdrawal from Contract Value. A 5% Enhancement will occur in subsequent years
only under certain conditions. If you are eligible (as defined above) for the
5% Enhancement in the next Benefit Year, the enhancement will not occur until
the Benefit Year anniversary of that year.

The following is an example of the impact of the 5% Enhancement on the Income
Base (assuming no withdrawals):

Initial Purchase Payment = $100,000; Income Base = $100,000

Additional Purchase Payment on day 30 = $15,000; Income Base = $115,000

Additional Purchase Payment on day 95 = $10,000; Income Base = $125,000

On the first Benefit Year anniversary, the Income Base will not be less than
$130,750 ($115,000 x 1.05 = $120,750 plus $10,000). The $10,000 Purchase
Payment on day 95 is not eligible for the 5% Enhancement until the second
Benefit Year anniversary.

You will not receive the 5% Enhancement on any Benefit Year anniversary in
which there is a withdrawal. The 5% Enhancement will occur on the following
Benefit Year anniversary if no further withdrawals are made from the contract
and the rider is within the Enhancement Period.

The following is an example of how the Automatic Annual Step-ups and the 5%
Enhancement affect the Income Base and the potential for the charge to increase
or decrease (assuming no withdrawals or additional Purchase Payments):

Potential for
Contract Income Base with Charge
Value 5% Enhancement Income Base to Change
---------- ------------------ ------------- --------------

Initial Purchase Payment $50,000...... $50,000 N/A $50,000 N/A
1st Benefit Year anniversary.......... $54,000 $52,500 $54,000 Yes
2nd Benefit Year anniversary.......... $53,900 $56,700 $56,700 No
3rd Benefit Year anniversary.......... $56,000 $59,535 $59,535 No
4th Benefit Year anniversary.......... $64,000 $62,512 $64,000 Yes

Death Prior to the Annuity Commencement Date. 4LATER (Reg. TM) Select Advantage
has no provision for a payout of the Income Base upon death of the
Contractowners or Annuitant. In addition, 4LATER (Reg. TM) Select Advantage
provides no increase in value to the Death Benefit over and above what the
Death Benefit provides in the base contract. At the time of death, if the
Contract Value equals zero, no Death Benefit options (as described in this
prospectus) will be in effect. Election of the 4LATER (Reg. TM) Select
Advantage does not impact the Death Benefit options available for purchase with
your annuity contract. Generally all Death Benefit payments must be made in
compliance with Internal Revenue Code Sections 72(s) or 401(a)(9), as amended.
See The Contracts - Death Benefit.

If the Contractowner is not also named as the Annuitant or the Secondary Life,
upon the first death of the Annuitant or Secondary Life, the 4LATER (Reg. TM)
Select Advantage rider will continue. Upon the second death of either the
Annuitant or Secondary Life, 4LATER (Reg. TM) Select Advantage will terminate.

99
<PAGE>

Upon the death of the Contractowner, the 4LATER (Reg. TM) Select Advantage
rider will continue only if either Annuitant or the Secondary Life becomes the
new Contractowner and payments under i4LIFE (Reg. TM) Advantage begin within
one year after the death of the Contractowner.

Termination. After the fifth anniversary of the effective date of the 4LATER
(Reg. TM) Select Advantage rider, the Contractowner may terminate the rider by
notifying us in writing. After this time, the rider will also terminate if the
Contractowner fails to adhere to the Investment Requirements. 4LATER (Reg. TM)
Select Advantage will automatically terminate:
o on the Annuity Commencement Date; or
o if the Annuitant is changed including any sale or assignment of the contract
or any pledge of the contract as collateral; or
o upon the second death of either the Annuitant or Secondary Life; or
o when the Income Base is reduced to zero due to withdrawals;
o the last day that you can elect i4LIFE (Reg. TM) Advantage (age 95); or
o upon termination of the underlying contract.

This termination will not result in any increase in Contract Value equal to the
Income Base. Upon effective termination of this rider, the benefits and charges
within this rider will terminate. If you terminate the rider, you must wait one
year before you can elect any Living Benefit Rider available for purchase at
that time.

i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit for Contractowners
who transition from 4LATER (Reg. TM) Select Advantage. Contractowners with an
active 4LATER (Reg. TM) Select Advantage may purchase i4LIFE (Reg. TM)
Advantage Select Guaranteed Income Benefit at the terms in effect when the
Contractowner purchased 4LATER (Reg. TM) Select Advantage rider. i4LIFE (Reg.
TM) Advantage Select Guaranteed Income Benefit provides for periodic variable
income payments for life, the ability to make withdrawals during a defined
period of time (the Access Period), a Death Benefit during the Access Period,
and a minimum payout floor, called the Guaranteed Income Benefit. You will be
required to adhere to certain Investment Requirements during the time you own
i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit. See Living Benefit
Riders - i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit for more
information.

Once you elect i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit, you
can use the greater of the Income Base under 4LATER (Reg. TM) Select Advantage
or your Account Value to establish the Guaranteed Income Benefit under i4LIFE
(Reg. TM) Advantage Select Guaranteed Income Benefit. This decision must be
made by the maximum age to elect i4LIFE (Reg. TM) Advantage, which is age 95.

If you elect the 4LATER (Reg. TM) Select Advantage single life option, you must
purchase the i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit single
life option. If you elect the 4LATER (Reg. TM) Select Advantage joint life
option, you must purchase i4LIFE (Reg. TM) Advantage Select Guaranteed Income
Benefit joint life option.

Contractowners who elect 4LATER (Reg. TM) Select Advantage are guaranteed the
ability in the future to elect i4LIFE (Reg. TM) Advantage Select Guaranteed
Income Benefit even if it is no longer available for purchase. They are also
guaranteed that the Guaranteed Income Benefit percentage and Access Period
requirements will be at least as favorable as those at the time they elected
4LATER (Reg. TM) Select Advantage. These requirements are specifically listed
in the Living Benefit Riders - Guaranteed Income Benefit with i4LIFE (Reg. TM)
Advantage section of this prospectus.

The Contractowner must elect the levelized option for Regular Income Payments.
While i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit is in effect,
the Contractowner cannot change the payment mode elected or decrease the length
of the Access Period.

You should consider electing i4LIFE (Reg. TM) Advantage Select Guaranteed
Income Benefit when you are ready to immediately start receiving i4LIFE (Reg.
TM) Advantage payments. Payments from a nonqualified contract that a person
receives under i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit are
treated as "amounts received as an annuity" under section 72 of the Internal
Revenue Code because the payments occur after the annuity starting date. These
payments are subject to an "exclusion ratio" as provided in section 72(b) of
the Code, which means a portion of each Annuity Payout is treated as income
(taxable at ordinary income tax rates), and the remainder is treated as a
nontaxable return of Purchase Payments.

i4LIFE (Reg. TM) Advantage

i4LIFE (Reg. TM) Advantage (the Variable Annuity Payout Option Rider in your
contract) is an optional Annuity Payout rider you may purchase at an additional
cost and is separate and distinct from other Annuity Payout options offered
under your contract and described later in this prospectus. You may also
purchase i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit for an additional
charge. See Charges and Other Deductions - i4LIFE (Reg. TM) Advantage Charge.

i4LIFE (Reg. TM) Advantage is an Annuity Payout option that provides you with
variable, periodic Regular Income Payments for life subject to certain
conditions. These payouts are made during two time periods: an Access Period
and a Lifetime Income Period. During the Access Period, you have access to your
Account Value, which means you may surrender the contract, make withdrawals,
and have a Death Benefit. During the Lifetime Income Period, you no longer have
access to your Account Value. You choose the length of the Access Period when
you select i4LIFE (Reg. TM) Advantage; the Lifetime Income Period begins
immediately after the Access Period ends and continues until your death (or the
death of a Secondary Life, if later). i4LIFE (Reg. TM) Advantage is different
from other Annuity Payout options provided by Lincoln because with i4LIFE (Reg.
TM) Advantage, you have the ability to make additional withdrawals or surrender
the contract during the Access Period. You may also purchase the Guaranteed
Income Benefit which provides a minimum payout floor for

100
<PAGE>

your Regular Income Payments. You choose when you want to receive your first
Regular Income Payment and the frequency with which you will receive Regular
Income Payments. The initial Regular Income Payment is calculated from the
Account Value on a date no more than 14 days prior to the date you select to
begin receiving the Regular Income Payments. This calculation date is called
the Periodic Income Commencement Date, and is the same date the Access Period
begins. Regular Income Payments must begin within one year of the date you
elect i4LIFE (Reg. TM) Advantage. Once they begin, Regular Income Payments will
continue until the death of the Annuitant or Secondary Life, if applicable.
This option is available on nonqualified annuities, IRAs and Roth IRAs (check
with your registered representative regarding availability with SEP market).
This option is subject to a charge while the i4LIFE (Reg. TM) Advantage is in
effect computed daily on the Account Value. See Charges and Other Deductions -
i4LIFE (Reg. TM) Advantage Charge.

i4LIFE (Reg. TM) Advantage is available for contracts with a Contract Value of
at least $50,000 and may be elected at the time of application or at any time
before any other Annuity Payout option under this contract is elected by
sending a completed i4LIFE (Reg. TM) Advantage election form to our Home
Office. When you elect i4LIFE (Reg. TM) Advantage, you must choose the
Annuitant, Secondary Life, if applicable, and make several choices about your
Regular Income Payments. The Annuitant and Secondary Life may not be changed
after i4LIFE (Reg. TM) Advantage is elected. For qualified contracts, the
Secondary Life must be the spouse. See i4LIFE (Reg. TM) Advantage Death
Benefits regarding the impact of a change to the Annuitant prior to the i4LIFE
(Reg. TM) Advantage election.

i4LIFE (Reg. TM) Advantage for IRA contracts is only available if the Annuitant
and Secondary Life, if applicable, are age 591/2 or older at the time the rider
is elected. i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit must be
elected by age 80 on IRA contracts or age 95 on nonqualified contracts.
Additional limitations on issue ages and features may be necessary to comply
with the IRC provisions for required minimum distributions. Additional Purchase
Payments may be made during the Access Period for an IRA annuity contract,
unless a Guaranteed Income Benefit has been elected. If the Guaranteed Income
Benefit option has been elected on an IRA contract, additional Purchase
Payments may be made until the initial Guaranteed Income Benefit is calculated.
Additional Purchase Payments will not be accepted after the Periodic Income
Commencement Date for a nonqualified annuity contract.

If i4LIFE (Reg. TM) Advantage is selected, the applicable transfer provisions
among Subaccounts and the fixed account will continue to be those specified in
your annuity contract for transfers on or before the Annuity Commencement Date.
However, once i4LIFE (Reg. TM) Advantage begins, any automatic withdrawal
service will terminate. See The Contracts - Transfers on or Before the Annuity
Commencement Date.

When you elect i4LIFE (Reg. TM) Advantage, the Death Benefit option that you
previously elected will become the Death Benefit election under i4LIFE (Reg.
TM) Advantage, unless you elect a less expensive Death Benefit option. If you
had previously elected EEB Death Benefit, you must elect a new Death Benefit.
Existing Contractowners with the Account Value Death Benefit who elect i4LIFE
(Reg. TM) Advantage must choose the i4LIFE (Reg. TM) Advantage Account Value
Death Benefit. The amount paid under the new Death Benefit may be less than the
amount that would have been paid under the Death Benefit provided before i4LIFE
(Reg. TM) Advantage began(if premium taxes have been deducted from the Contract
Value). See The Contracts - i4LIFE (Reg. TM) Advantage Death Benefits.

Access Period. At the time you elect i4LIFE (Reg. TM) Advantage, you also
select the Access Period, which begins on the Periodic Income Commencement
Date. The Access Period is a defined period of time during which we pay
variable, periodic Regular Income Payments and provide a Death Benefit, and
during which you may surrender the contract and make withdrawals from your
Account Value (defined below). At the end of the Access Period, the remaining
Account Value is used to make Regular Income Payments for the rest of your life
(or the Secondary Life if applicable). This is called the Lifetime Income
Period. During the Lifetime Income Period, you will no longer be able to make
withdrawals or surrenders or receive a Death Benefit. If your Account Value is
reduced to zero because of withdrawals or market loss, your Access Period ends.

We will establish the minimum (currently 5 years) and maximum (currently the
length of time between your current age and age 115 for nonqualified contracts
or to age 100 for qualified contracts) Access Periods at the time you elect
i4LIFE (Reg. TM) Advantage. Generally, shorter Access Periods will produce a
higher initial Regular Income Payment than longer Access Periods. At any time
during the Access Period, you may extend or shorten the length of the Access
Period subject to Home Office approval. Additional restrictions may apply if
you are under age 591/2 when you request a change to the Access Period.
Currently, if you extend the Access Period, it must be extended at least 5
years. If you change the Access Period, subsequent Regular Income Payments will
be adjusted accordingly, and the Account Value remaining at the end of the new
Access Period will be applied to continue Regular Income Payments for your
life. Additional limitations on issue ages and features may be necessary to
comply with the IRC provisions for required minimum distributions. We may
reduce or terminate the Access Period for IRA i4LIFE (Reg. TM) Advantage
contracts in order to keep the Regular Income Payments in compliance with IRC
provisions for required minimum distributions. The minimum Access Period
requirements for Guaranteed Income Benefits are longer than the requirements
for i4LIFE (Reg. TM) Advantage without a Guaranteed Income Benefit. Shortening
the Access Period will terminate the Guaranteed Income Benefit. See Guaranteed
Income Benefit with i4LIFE (Reg. TM) Advantage.

Account Value. The initial Account Value is the Contract Value on the Valuation
Date i4LIFE (Reg. TM) Advantage is effective (or your initial Purchase Payment
if i4LIFE (Reg. TM) Advantage is purchased at contract issue), less any
applicable premium taxes. During the Access Period, the Account Value on a
Valuation Date will equal the total value of all of the Contractowner's
Accumulation Units plus the Contractowner's value in the fixed account, and
will be reduced by Regular Income Payments and Guaranteed Income Benefit
payments made as well as any withdrawals taken. After the Access Period ends,
the remaining Account Value will be applied to continue Regular Income Payments
for your life and the Account Value will be reduced to zero.

101
<PAGE>

Regular Income Payments during the Access Period. i4LIFE (Reg. TM) Advantage
provides for variable, periodic Regular Income Payments for as long as an
Annuitant (or Secondary Life, if applicable) is living and access to your
Account Value during the Access Period. When you elect i4LIFE (Reg. TM)
Advantage, you will have to choose the date you will receive the initial
Regular Income Payment. Once they begin, Regular Income Payments will continue
until the death of the Annuitant or Secondary Life, if applicable. Regular
Income Payments must begin within one year of the date you elect i4LIFE (Reg.
TM) Advantage. You also select when the Access Period ends and when the
Lifetime Income Period begins. You must also select the frequency of the
payments (monthly, quarterly, semi-annually or annually), how often the payment
is recalculated, the length of the Access Period and the Assumed Investment
Return ("AIR"). These choices will influence the amount of your Regular Income
Payments.

If you do not choose a payment frequency, the default is a monthly frequency.
In most states, you may also elect to have Regular Income Payments from
nonqualified contracts recalculated only once each year rather than
recalculated at the time of each payment. This results in level Regular Income
Payments between recalculation dates. Qualified contracts are only recalculated
once per year, at the beginning of each calendar year. You also choose the AIR.
AIR rates of 3%, 4%, 5%, or 6% may be available. Certain states limit the
availability of 5% or 6% AIR. See your registered representative for
availability. The higher the AIR you choose, the higher your initial Regular
Income Payment will be and the higher the return must be to increase subsequent
Regular Income Payments. You also choose the length of the Access Period. At
this time, changes to the Access Period can only be made on Periodic Income
Commencement Date anniversaries.

Regular Income Payments are not subject to any applicable Interest Adjustments.
See Charges and Other Deductions. For information regarding income tax
consequences of Regular Income Payments, see Federal Tax Matters.

The amount of the initial Regular Income Payment is determined on the Periodic
Income Commencement Date by dividing the Contract Value (or Purchase Payment if
elected at contract issue), less applicable premium taxes by 1,000 and
multiplying the result by an annuity factor. The annuity factor is based upon:
o the age and sex of the Annuitant and Secondary Life, if applicable;
o the length of the Access Period selected;
o the frequency of the Regular Income Payments;
o the AIR selected; and
o the Individual Annuity Mortality table specified in your contract.

The annuity factor used to determine the Regular Income Payments reflects the
fact that, during the Access Period, you have the ability to withdraw the
entire Account Value and that a Death Benefit of the entire Account Value will
be paid to your Beneficiary upon your death. These benefits during the Access
Period result in a slightly lower Regular Income Payment, during both the
Access Period and the Lifetime Income Period, than would be payable if this
access was not permitted and no lump-sum Death Benefit of the full Account
Value was payable. (The Contractowner must elect an Access Period of no less
than the minimum Access Period which is currently set at 5 years.) The annuity
factor also reflects the requirement that there be sufficient Account Value at
the end of the Access Period to continue your Regular Income Payments for the
remainder of your life (and/or the Secondary Life if applicable), during the
Lifetime Income Period, with no further access or Death Benefit.

The Account Value will vary with the actual net investment return of the
Subaccounts selected and the interest credited on the fixed account, which then
determines the subsequent Regular Income Payments during the Access Period.
Each subsequent Regular Income Payment (unless the levelized option is
selected) is determined by dividing the Account Value on the applicable
Valuation Date by 1,000 and multiplying this result by an annuity factor
revised to reflect the declining length of the Access Period. As a result of
this calculation, the actual net returns in the Account Value are measured
against the AIR to determine subsequent Regular Income Payments. If the actual
net investment return (annualized) for the contract exceeds the AIR, the
Regular Income Payment will increase at a rate approximately equal to the
amount of such excess. Conversely, if the actual net investment return for the
contract is less than the AIR, the Regular Income Payment will decrease. For
example, if net investment return is 3% higher (annualized) than the AIR, the
Regular Income Payment for the next year will increase by approximately 3%.
Conversely, if actual net investment return is 3% lower than the AIR, the
Regular Income Payment will decrease by approximately 3%.

Withdrawals made during the Access Period will also reduce the Account Value
that is available for Regular Income Payments, and subsequent Regular Income
Payments will be recalculated and could be increased or reduced, based on the
Account Value following the withdrawal.

For a joint life option, if either the Annuitant or Secondary Life dies during
the Access Period, Regular Income Payments will be recalculated using a revised
annuity factor based on the single surviving life, if doing so provides a
higher Regular Income Payment. On a joint life option, the Secondary Life
spouse must be either the primary Beneficiary or joint owner in order to
receive the remaining payments after the first spouse's death.

For nonqualified contracts, if the Annuitant and Secondary Life, if applicable,
both die during the Access Period, the Guaranteed Income Benefit (if any) will
terminate and the annuity factor will be revised for a non-life contingent
Regular Income Payment and Regular Income Payments will continue until the
Account Value is fully paid out and the Access Period ends. For qualified
contracts, if

102
<PAGE>

the Annuitant and Secondary Life, if applicable, both die during the Access
Period, i4LIFE (Reg. TM) Advantage (and any Guaranteed Income Benefit if
applicable) will terminate.

Regular Income Payments during the Lifetime Income Period. The Lifetime Income
Period begins at the end of the Access Period if either the Annuitant or
Secondary Life is living. Your earlier elections regarding the frequency of
Regular Income Payments, AIR and the frequency of the recalculation do not
change. The initial Regular Income Payment during the Lifetime Income Period is
determined by dividing the Account Value on the last Valuation Date of the
Access Period by 1,000 and multiplying the result by an annuity factor revised
to reflect that the Access Period has ended. The annuity factor is based upon:
o the age and sex of the Annuitant and Secondary Life (if living);
o the frequency of the Regular Income Payments;
o the AIR selected; and
o the Individual Annuity Mortality table specified in your contract.

The impact of the length of the Access Period and any withdrawals made during
the Access Period will continue to be reflected in the Regular Income Payments
during the Lifetime Income Period. To determine subsequent Regular Income
Payments, the contract is credited with a fixed number of Annuity Units equal
to the initial Regular Income Payment (during the Lifetime Income Period)
divided by the Annuity Unit value (by Subaccount). Subsequent Regular Income
Payments are determined by multiplying the number of Annuity Units per
Subaccount by the Annuity Unit value. Your Regular Income Payments will vary
based on the value of your Annuity Units. If your Regular Income Payments are
adjusted on an annual basis, the total of the annual payment is transferred to
Lincoln Life's general account to be paid out based on the payment mode you
selected. Your payment(s) will not be affected by market performance during
that year. Your Regular Income Payment(s) for the following year will be
recalculated at the beginning of the following year based on the current value
of the Annuity Units.

Regular Income Payments will continue for as long as the Annuitant or Secondary
Life, if applicable, is living, and will continue to be adjusted for investment
performance of the Subaccounts your Annuity Units are invested in (and the
fixed account if applicable). Regular Income Payments vary with investment
performance.

During the Lifetime Income Period, there is no longer an Account Value;
therefore, no withdrawals are available and no Death Benefit is payable. In
addition, transfers are not allowed from a fixed annuity payment to a variable
annuity payment.

i4LIFE (Reg. TM) Advantage Death Benefits

i4LIFE (Reg. TM) Advantage Account Value Death Benefit. The i4LIFE (Reg. TM)
Advantage Account Value Death Benefit is available during the Access Period.
This Death Benefit is equal to the Account Value as of the Valuation Date on
which we approve the payment of the death claim. You may not change this Death
Benefit once it is elected.

i4LIFE (Reg. TM) Advantage Guarantee of Principal Death Benefit. The i4LIFE
(Reg. TM) Advantage Guarantee of Principal Death Benefit is available during
the Access Period and will be equal to the greater of:
o the Account Value as of the Valuation Date we approve the payment of the
claim; or
o the sum of all Purchase Payments, less the sum of Regular Income
Payments and other withdrawals where:
o Regular Income Payments, including withdrawals to provide the Guaranteed
Income Benefit, reduce the Death Benefit by the dollar amount of the
payment; and
o all other withdrawals, if any, reduce the Death Benefit in the same
proportion that withdrawals reduce the Contract Value or Account Value.

In a declining market, withdrawals which are deducted in the same proportion
that withdrawals reduce the Contract Value or Account Value, may have a
magnified effect on the reduction of the Death Benefit payable. This is because
the reduction in the benefit may be more than the dollar amount withdrawn from
the Contract Value. All references to withdrawals include deductions for any
applicable charges associated with those withdrawals and premium taxes, if any.

The following example demonstrates the impact of a proportionate withdrawal on
your Death Benefit:

103
<PAGE>

i4LIFE (Reg. TM) Advantage Guarantee of Principal Death Benefit................. $200,000
Regular Income Payment.......................................................... $ 25,000
Account Value at the time of additional withdrawal.............................. $150,000
Additional withdrawal........................................................... $ 15,000

Death Benefit Value after Regular Income Payment = $200,000 - $25,000 = $175,000
Reduction in Death Benefit value for withdrawal = $175,000 x 10% = $17,500
Death Benefit Value after additional withdrawal = $175,000 - $17,500 = $157,500

i4LIFE (Reg. TM) Advantage Guarantee of Principal Death Benefit.................
Regular Income Payment..........................................................
Account Value at the time of additional withdrawal..............................
Additional withdrawal........................................................... ($15,000/$150,000=10% withdrawal)

The Regular Income Payment reduced the Death Benefit by $25,000 and the
additional withdrawal caused a 10% reduction in the Death Benefit, the same
percentage that the withdrawal reduced the Account Value.

During the Access Period, contracts with the i4LIFE (Reg. TM) Advantage
Guarantee of Principal Death Benefit may elect to change to the i4LIFE (Reg.
TM) Advantage Account Value Death Benefit by contacting us in writing at our
Home Office. We will effect the change in Death Benefit on the Valuation Date
we receive the request, at our Home Office, and we will begin deducting the
lower i4LIFE (Reg. TM) Advantage charge at that time. Once the change is
effective, you may not elect to return to the i4LIFE (Reg. TM) Advantage
Guarantee of Principal Death Benefit.

i4LIFE (Reg. TM) Advantage EGMDB. The i4LIFE (Reg. TM) Advantage EGMDB is only
available during the Access Period. This benefit is the greatest of:
o the Account Value as of the Valuation Date on which we approve the
payment of the claim; or
o the sum of all Purchase Payments, less the sum of Regular Income
Payments and other withdrawals where:
o Regular Income Payments, including withdrawals to provide the Guaranteed
Income Benefit, reduce the Death Benefit by the dollar amount of the
payment or in the same proportion that Regular Income Payments reduce the
Account Value, depending on the terms of your contract; and
o all other withdrawals, if any, reduce the Death Benefit in the same
proportion that withdrawals reduce the Contract Value or Account Value.

References to Purchase Payments and withdrawals include Purchase Payments and
withdrawals made prior to the election of i4LIFE (Reg. TM) Advantage if your
contract was in force with the Guarantee of Principal or greater Death Benefit
option prior to that election; or
o the highest Account Value or Contract Value on any contract anniversary
date (including the inception date of the contract) after the EGMDB is
effective (determined before the allocation of any Purchase Payments on
that contract anniversary) prior to the 81st birthday of the deceased and
prior to the date of death. The highest Account Value or Contract Value is
increased by Gross Purchase Payments and is decreased by Regular Income
Payments, including withdrawals to provide the Guaranteed Income Benefits
and all other withdrawals subsequent to the anniversary date on which the
highest Account Value or Contract Value is obtained. Regular Income
Payments and withdrawals are deducted in the same proportion that Regular
Income Payments and withdrawals reduce the Contract Value or Account
Value.

When determining the highest anniversary value, if you elected the EGMDB (or
more expensive Death Benefit option) in the base contract and this Death
Benefit was in effect when you purchased i4LIFE (Reg. TM) Advantage, we will
look at the Contract Value before i4LIFE (Reg. TM) Advantage and the Account
Value after the i4LIFE (Reg. TM) Advantage election to determine the highest
anniversary value.

In a declining market, withdrawals which are deducted in the same proportion
that withdrawals reduce the Account Value, may have a magnified effect on the
reduction of the Death Benefit payable. This is because the reduction in the
benefit may be more than the dollar amount withdrawn from the Contract Value.
All references to withdrawals include deductions for any applicable charges
associated with those withdrawals and premium taxes, if any.

Contracts with the i4LIFE (Reg. TM) Advantage EGMDB may elect to change to the
i4LIFE (Reg. TM) Advantage Guarantee of Principal or the i4LIFE (Reg. TM)
Advantage Account Value Death Benefit by contacting us in writing at the Home
Office. We will effect the change in Death Benefit on the Valuation Date we
receive the request, at our Home Office, and we will begin deducting the lower
i4LIFE (Reg. TM) Advantage charge at that time. Once the change is effective,
you may not elect to return to the i4LIFE (Reg. TM) Advantage EGMDB.

General Death Benefit Provisions. For all Death Benefit options, following the
Access Period, there is no Death Benefit. The Death Benefits also terminate
when the Account Value equals zero, because the Access Period terminates.

If there is a change in the Contractowner, joint owner or Annuitant during the
life of the contract, for any reason other than death, the only Death Benefit
payable for the new person will be the i4LIFE (Reg. TM) Advantage Account Value
Death Benefit. On a joint life option, the Secondary Life spouse must be either
the primary Beneficiary or joint owner in order to receive the remaining
payments after the first spouse's death.

For nonqualified contracts, upon the death of the Contractowner, joint owner or
Annuitant, the Contractowner (or Beneficiary) may elect to terminate the
contract and receive full payment of the Death Benefit or may elect to continue
the contract and receive Regular Income Payments. Upon the death of the
Secondary Life, who is not also an owner, only the surrender value is paid.

104
<PAGE>

If you are the owner of an IRA annuity contract, and there is no Secondary
Life, and you die during the Access Period, the i4LIFE (Reg. TM) Advantage will
terminate. A spouse Beneficiary may start a new i4LIFE (Reg. TM) Advantage
program.

If a death occurs during the Access Period, the value of the Death Benefit will
be determined as of the Valuation Date we approve the payment of the claim.
Approval of payment will occur upon our receipt of all the following:

1. proof (e.g. an original certified death certificate), or any other proof
of death satisfactory to us; and

2. written authorization for payment; and

3. all required claim forms, fully completed (including selection of a
settlement option).

Upon notification to us of the death, Regular Income Payments may be suspended
until the death claim is approved by us. Upon approval, a lump sum payment for
the value of any suspended payments will be made as of the date the death claim
is approved, and Regular Income Payments will continue, if applicable. The
excess, if any, of the Death Benefit over the Account Value will be credited
into the contract at that time.

If a lump sum settlement is elected, the proceeds will be mailed within seven
days of approval by us of the claim subject to the laws, regulations and tax
code governing payment of Death Benefits. This payment may be postponed as
permitted by the Investment Company Act of 1940.

Guaranteed Income Benefit with i4LIFE (Reg. TM) Advantage

A Guaranteed Income Benefit may be available for purchase when you elect i4LIFE
(Reg. TM) Advantage which ensures that your Regular Income Payments will never
be less than a minimum payout floor, regardless of the actual investment
performance of your contract. There are two versions of i4LIFE (Reg.
TM)Advantage Guaranteed Income Benefit currently available for purchase (unless
you are guaranteed the right to elect a prior version under the terms of
another Living Benefit Rider) - i4LIFE (Reg. TM) Advantage Select Guaranteed
Income Benefit and i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit
(Managed Risk).

i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit is an optional feature
that provides a Guaranteed Income Benefit and requires that you adhere to
certain Investment Requirements. See Investment Requirements in this prospectus
for more information about the Investment Requirements applicable to your
version of i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit. You will be
subject to those Investment Requirements for the entire time you own the rider.
Failure to comply with the Investment Requirements will result in the
termination of the rider. See i4LIFE (Reg. TM) Advantage Guaranteed Income
Benefit - Termination for more information.

As discussed below, certain features of the Guaranteed Income Benefit may be
impacted if you purchased a Living Benefit Rider prior to electing i4LIFE (Reg.
TM) Advantage Guaranteed Income Benefit. Refer to the 4LATER (Reg. TM)
Advantage section of this prospectus for a discussion of the 4LATER (Reg. TM)
Guaranteed Income Benefit.

Additional Gross Purchase Payments cannot be made to a contract with the
Guaranteed Income Benefit. You are also limited in how much you can invest in
certain Subaccounts. See the Contracts - Investment Requirements. The version
of the Guaranteed Income Benefit, the date that you purchased it, and/or
whether you previously owned a Living Benefit Rider will determine which
Investment Requirement option applies to you.

There is no guarantee that any version of i4LIFE (Reg. TM) Advantage Guaranteed
Income Benefit will be available to elect in the future, as we reserve the
right to discontinue this option at any time. In addition, we may make
different versions of the Guaranteed Income Benefit available to new purchasers
or may create different versions for use with various Living Benefit Riders.
However, a Contractowner with Lincoln Lifetime IncomeSM Advantage, Lincoln
Lifetime IncomeSM Advantage 2.0 (Managed Risk) (including Lincoln Lifetime
IncomeSM Advantage 2.0), Lincoln Market Select (Reg. TM) Advantage, 4LATER
(Reg. TM) Select Advantage or 4LATER (Reg. TM) Advantage (Managed Risk) who
decides to terminate that rider to purchase i4LIFE (Reg. TM) Advantage will be
guaranteed the right to purchase the Guaranteed Income Benefit under the terms
set forth in another rider. In certain states the total annual Guaranteed
Income Benefit that would otherwise be payable may be subject to a maximum
amount. Please refer to your contract or contact your registered representative
for more information.

You may elect any available version of the Guaranteed Income Benefit when you
elect i4LIFE (Reg. TM) Advantage or during the Access Period, if still
available for election, subject to terms and conditions at that time. You may
choose not to purchase the Guaranteed Income Benefit at the time you purchase
i4LIFE (Reg. TM) Advantage by indicating that you do not want the i4LIFE (Reg.
TM) Advantage Guaranteed Income Benefit on the election form at the time that
you purchase i4LIFE (Reg. TM) Advantage. If you intend to use the Guaranteed
Amount or the Income Base from a previously elected Living Benefit Rider to
establish the Guaranteed Income Benefit, you must elect the Guaranteed Income
Benefit at the time you elect i4LIFE (Reg. TM) Advantage.

The i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit is reduced by
withdrawals (other than Regular Income Payments) in the same proportion that
the withdrawals reduce the Account Value. See i4LIFE (Reg. TM) Advantage -
General i4LIFE (Reg. TM) Provisions for an example.

105
<PAGE>

Contractowners with Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) or
4LATER (Reg. TM) Advantage (Managed Risk) who wish to elect i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit must elect i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit (Managed Risk). Contractowners with Lincoln Market
Select (Reg. TM) Advantage, 4LATER (Reg. TM) Select Advantage or Lincoln
SmartSecurity (Reg. TM) Advantage who wish to elect i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit must elect i4LIFE (Reg. TM) Advantage Select
Guaranteed Income Benefit. Please refer to your Living Benefit Rider regarding
the availability of prior versions of Guaranteed Income Benefit.

Select Guaranteed Income Benefit. The initial Guaranteed Income Benefit will be
an amount equal to a specified percentage of your Account Value (or Income Base
or Guaranteed Amount as applicable), based on your age (or the age of the
youngest life under a joint life option) at the time the Guaranteed Income
Benefit is elected.

The initial Guaranteed Income Benefit percentages applicable to new rider
elections are determined in our sole discretion based on current economic
factors including interest rates and equity market volatility. Generally, the
percentage may increase or decrease based on changes in equity market
volatility, prevailing interest rates, or as a result of other economic
conditions. This percentage structure is intended to help us provide the
guarantees under the rider. The initial Guaranteed Income Benefit percentages
for new rider elections may be higher or lower than prior percentages, but for
existing Contractowners that have elected the rider, your Guaranteed Income
Benefit percentages will not change as a result.

The initial Guaranteed Income Benefit percentages applicable to new rider
elections are set forth in a supplement to this prospectus, called a Rate
Sheet. The Rate Sheet indicates the Guaranteed Income Benefit percentage, its
effective period, and the date by which your application or rider election form
must be signed and dated for a contract to be issued with that rate. The
percentages may change with each Rate Sheet and may be higher or lower than the
percentages on the previous Rate Sheet. The percentages will not change more
frequently than quarterly.

At least 10 days before the end of the indicated effective period, the
Guaranteed Income Benefit percentages for the next effective period will be
disclosed in a new Rate Sheet. In order to get the percentage indicated in a
Rate Sheet, your application or rider election form must be signed and dated on
or before the last day of the effective period noted in that Rate Sheet. For
new Contractowners, current Rate Sheets will be included with the prospectus.
For existing Contractowners, current Rate Sheets will be mailed to you with
your quarterly statement. You can also obtain the most current Rate Sheet by
contacting your registered representative or online at
www.LincolnFinancial.com. Guaranteed Income Benefit percentages from previous
effective periods are included in an appendix to this prospectus.

Guaranteed Income Benefit (Managed Risk) and Guaranteed Income Benefit (version
4). The following discussion applies to both Guaranteed Income Benefit (Managed
Risk) and Guaranteed Income Benefit (version 4) unless otherwise specified. The
initial Guaranteed Income Benefit will be an amount equal to a specified
percentage of your Account Value (or Income Base or Guaranteed Amount as
applicable), based on your age (or the age of the youngest life under a joint
life option) at the time the Guaranteed Income Benefit is elected. The current
specified percentages and the corresponding age-bands for calculating the
initial Guaranteed Income Benefit under Guaranteed Income Benefit (Managed
Risk) are outlined in the table below for riders. The percentages and age-bands
for Guaranteed Income Benefit (Managed Risk and version 4) elected during
previous effective periods can be found in an Appendix to this prospectus.
Guaranteed Income Benefit (version 4) is only available for purchase if you are
guaranteed the right to elect a prior version under another Living Benefit
Rider. (i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit (Managed Risk and
version 4) are not available to Lincoln SmartSecurity (Reg. TM) Advantage
purchasers.)

Age-Banded Percentages for Calculating Initial Guaranteed Income Benefit for:

i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit (Managed Risk) elections
or for purchasers of
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) or 4LATER (Reg. TM)
Advantage (Managed Risk)
on or after May 20, 2013.

Single Life Option Joint Life Option
------------------------------------------- -----------------------------------------------
Age
Percentage of Account (younger of you and Percentage of Account
Age Value or Income Base* your spouse's age) Value or Income Base*
---------------- ----------------------- --------------------- ----------------------

Under age 40 2.50% Under age 40 2.50%
40 - 54 3.00% 40 - 54 3.00%
55 - 58 3.50% 55 - 58 3.50%
59 - 64 4.00% 59 - 69 4.00%
65 - 69 4.50% 70 - 74 4.50%
70 - 79 5.00% 75 - 79 5.00%
80+ 5.50% 80+ 5.50%

* Purchasers of Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) may
use any remaining Income Base reduced by all Guaranteed Annual Income
payments since the last Automatic Annual Step-up, if any, or the rider's
effective date (if there have not been any Automatic Annual Step-ups) if
greater than the Account Value to establish the initial Guaranteed Income
Benefit. Purchasers of 4LATER (Reg. TM) Advantage (Managed Risk) may use
any remaining Income Base to establish the initial Guaranteed Income
Benefit.

106
<PAGE>

Please note that Guaranteed Income Benefit percentages for prior effective
periods are in an Appendix to this prospectus.

General Provisions. For all versions of the Guaranteed Income Benefit, if the
amount of your i4LIFE (Reg. TM) Advantage Regular Income Payment has fallen
below the Guaranteed Income Benefit, because of poor investment results, a
payment equal to the i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit is
the minimum payment you will receive. If the market performance in your
contract is sufficient to provide Regular Income Payments at a level that
exceeds the Guaranteed Income Benefit, the Guaranteed Income Benefit will never
come into effect. If the Guaranteed Income Benefit is paid, it will be paid
with the same frequency as your Regular Income Payment. If your Regular Income
Payment is less than the Guaranteed Income Benefit, we will reduce the Account
Value by the Regular Income Payment plus an additional amount equal to the
difference between your Regular Income Payment and the Guaranteed Income
Benefit (in other words, Guaranteed Income Benefit payments reduce the Account
Value by the entire amount of the Guaranteed Income Benefit payment). (Regular
Income Payments also reduce the Account Value.) This payment will be made from
the variable Subaccounts and the fixed account proportionately, according to
your investment allocations.

If your Account Value reaches zero as a result of payments to provide the
Guaranteed Income Benefit, we will continue to pay you an amount equal to the
Guaranteed Income Benefit. If your Account Value reaches zero, your Access
Period will end and your Lifetime Income Period will begin. Additional amounts
withdrawn from the Account Value to provide the Guaranteed Income Benefit may
terminate your Access Period earlier than originally scheduled, and will reduce
your Death Benefit. If your Account Value equals zero, no Death Benefit will be
paid. See i4LIFE (Reg. TM) Advantage Death Benefits. After the Access Period
ends, we will continue to pay the Guaranteed Income Benefit for as long as the
Annuitant (or the Secondary Life, if applicable) is living.

The following example illustrates how poor investment performance, which
results in a Guaranteed Income Benefit payment, affects the i4LIFE (Reg. TM)
Account Value:

i4LIFE (Reg. TM) Account Value before market decline............ $135,000
i4LIFE (Reg. TM) Account Value after market decline............. $100,000
Guaranteed Income Benefit....................................... $ 810
Regular Income Payment after market decline..................... $ 769
Account Value after market decline and Guaranteed Income Benefit
payment......................................................... $ 99,190

The Contractowner receives an amount equal to the Guaranteed Income Benefit.
The entire amount of the Guaranteed Income Benefit is deducted from the Account
Value.

The Guaranteed Income Benefit will automatically step up every year to 75% of
the current Regular Income Payment, if that result is greater than the
immediately prior Guaranteed Income Benefit. For nonqualified contracts, the
step-up will occur annually on the first Valuation Date on or after each
Periodic Income Commencement Date anniversary starting on the first Periodic
Income Commencement Date anniversary. For qualified contracts, the step-up will
occur annually on the Valuation Date of the first periodic income payment of
each calendar year. The first step-up is the Valuation Date of the first
periodic income payment in the next calendar year following the Periodic Income
Commencement Date.

The following example illustrates how the initial Guaranteed Income Benefit is
calculated for a Contractowner with a nonqualified contract, and how a step-up
would increase the Guaranteed Income Benefit in a subsequent year. The example
assumes a 4% percentage was used to calculate the Guaranteed Income Benefit,
and that the Account Value has increased due to positive investment returns
resulting in a higher recalculated Regular Income Payment. See Living Benefit
Riders - i4LIFE (Reg. TM) Advantage - Regular Income Payments during the Access
Period for a discussion of recalculation of the Regular Income Payment.

8/1/2016 Amount of initial Regular Income Payment............................. $ 4,801
8/1/2016 Account Value at election of Guaranteed Income Benefit............... $100,000
8/1/2016 Initial Guaranteed Income Benefit (4.0% x $100,000 Account Value).... $ 4,000
8/1/2017 Recalculated Regular Income Payment.................................. $ 6,000
8/1/2017 Guaranteed Income Benefit after step-up (75% of $6,000).............. $ 4,500

The Guaranteed Income Benefit was increased to 75% of the recalculated Regular
Income Payment.

The next section describes any differences in how the Guaranteed Income Benefit
works for Guaranteed Income Benefit (version 3), Guaranteed Income Benefit
(version 2) and Guaranteed Income Benefit (version 1). All other features of
the Guaranteed Income Benefit not discussed below are the same as in General
Provisions above.

Guaranteed Income Benefit (version 3). Guaranteed Income Benefit (version 3)
was available for purchase on or after October 6, 2008 to December 31, 2010 or
when Guaranteed Income Benefit (version 4) was approved in your state,
whichever occurred later

107
<PAGE>

(unless version 3 is available for election at any time per the terms of your
Living Benefit Rider). For Guaranteed Income Benefit (version 3) the Guaranteed
Income Benefit is initially equal to 75% of the Regular Income Payment (which
is based on your Account Value as defined in the i4LIFE (Reg. TM) Advantage
rider section) in effect at the time the Guaranteed Income Benefit is elected.

The Guaranteed Income Benefit will automatically step up every year to 75% of
the current Regular Income Payment, if that result is greater than the
immediately prior Guaranteed Income Benefit. The step-up will occur on every
Periodic Income Commencement Date anniversary during a 5-year step-up period.
At the end of a step-up period you may elect a new step-up period by submitting
a written request to the Home Office. If you prefer, when you start the
Guaranteed Income Benefit, you can request that we administer this election for
you.

Guaranteed Income Benefit (version 2). Guaranteed Income Benefit (version 2)
was available for election prior to October 6, 2008 (unless version 2 is
available for election at any time per the terms of your Living Benefit Rider).
For Guaranteed Income Benefit (version 2) the Guaranteed Income Benefit is
initially equal to 75% of the Regular Income Payment (which is based on your
Account Value as defined in the i4LIFE (Reg. TM) Advantage rider section) in
effect at the time the Guaranteed Income Benefit is elected.

The Guaranteed Income Benefit will automatically step-up every three years on
the Periodic Income Commencement Date anniversary to 75% of the current Regular
Income Payment, if the result is greater than the immediately prior Guaranteed
Income Benefit. The step-up will occur on every third Periodic Income
Commencement Date anniversary during a 15-year step-up period. At the end of a
step-up period, you may elect a new 15-year step-up period by submitting a
written request to the Home Office. If you prefer, when you start the
Guaranteed Income Benefit, you can request that we administer this election for
you.

Guaranteed Income Benefit (version 1). If you have Guaranteed Income Benefit
(version 1), your Guaranteed Income Benefit will not step-up on an anniversary,
but will remain level. This version is no longer available for election.

The next section describes certain guarantees in Living Benefit Riders relating
to the election of the Guaranteed Income Benefit.

Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk). Contractowners who
elect Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) who wish to
transition to i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit may elect
i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit (Managed Risk) in
accordance with the same terms set out above. If this decision is made, the
Contractowner can use the greater of the Income Base under Lincoln Lifetime
IncomeSM Advantage 2.0 (Managed Risk) reduced by all Guaranteed Annual Income
payments since the last Automatic Annual Step-up, or the Account Value to
establish the Guaranteed Income Benefit under i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit (Managed Risk). The initial Guaranteed Income Benefit
will be an amount equal to a specified percentage of your Account Value (or
Income Base) based on your age (or the age of the younger life under a joint
life option) at the time the Guaranteed Income Benefit is elected.

Lincoln Market Select (Reg. TM) Advantage. Contractowners who purchase Lincoln
Market Select (Reg. TM) Advantage and wish to transition to i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit are guaranteed the right, in the future, to
elect i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit, even if it
is no longer available for purchase. They are also guaranteed that the
Guaranteed Income Benefit percentages and Access Period requirements will be at
least as favorable as those available at the time they purchased Lincoln Market
Select (Reg. TM) Advantage.

If this decision is made, you can use the greater of the Income Base under
Lincoln Market Select (Reg. TM) Advantage reduced by all Guaranteed Annual
Income payments since the last Automatic Annual Step-up or the Account Value to
establish the Guaranteed Income Benefit under i4LIFE (Reg. TM) Advantage Select
Guaranteed Income Benefit. The initial Guaranteed Income Benefit will be an
amount equal to a specified percentage of your Account Value (or Income Base)
based on your age (or the age of the younger life under a joint life option) at
the time the Guaranteed Income Benefit is elected.

The Guaranteed Income Benefit percentage applicable to Lincoln Market Select
(Reg. TM) Advantage riders elected is set forth in a supplement to this
prospectus called a Rate Sheet. See the Select Guaranteed Income Benefit
sections above for more information about the Rate Sheet. The Guaranteed Income
Benefit percentage applicable to Lincoln Market Select (Reg. TM) Advantage
riders elected during previous effective periods can be found in an Appendix to
this prospectus.

4LATER (Reg. TM) Select Advantage. Contractowners who elect 4LATER (Reg. TM)
Select Advantage and wish to transition to i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit are guaranteed the right, in the future, to elect
i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit, even if it is no
longer available for purchase. They are also guaranteed that the Guaranteed
Income Benefit percentages and Access Period requirements will be at least as
favorable as those available at the time they purchased 4LATER (Reg. TM) Select
Advantage.

If this decision is made, you can use the greater of the Income Base under
4LATER (Reg. TM) Select Advantage or the Account Value to establish the
Guaranteed Income Benefit. The initial Guaranteed Income Benefit will be an
amount equal to a specified percentage of your Account Value (or Income Base)
based on your age (or the age of the younger life under a joint life option) at
the time the Guaranteed Income Benefit is elected.

The Guaranteed Income Benefit percentages applicable to new 4LATER (Reg. TM)
Select Advantage rider elections are set forth in a supplement to this
prospectus called a Rate Sheet. See the Select Guaranteed Income Benefit
section above for more information about the Rate Sheet. The Guaranteed Income
Benefit percentage applicable to 4LATER (Reg. TM) Select Advantage riders
elected during previous effective periods can be found in an Appendix to this
prospectus.

108
<PAGE>

Lincoln Lifetime IncomeSM Advantage 2.0. Contractowners who purchased Lincoln
Lifetime IncomeSM Advantage 2.0 who wish to transition to i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit are guaranteed the right, in the future, to
elect i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit (version 4) even
though it is no longer available for purchase. They are also guaranteed that
the Guaranteed Income Benefit percentages and Access Period requirements will
be at least as favorable as those available at the time they purchased Lincoln
Lifetime IncomeSM Advantage 2.0. If this decision is made, the Contractowner
can use the Lincoln Lifetime IncomeSM Advantage 2.0 Income Base reduced by all
Guaranteed Annual Income payments since the last Automatic Annual Step-up or
since the rider's effective date (if there has not been an Automatic Annual
Step-up) if greater than the Account Value to establish the Guaranteed Income
Benefit at the terms in effect for the purchasers of this rider. The initial
Guaranteed Income Benefit will be an amount equal to a specified percentage of
your Account Value (or Income Base) based on your age (or the age of the
younger life under a joint life option) at the time the Guaranteed Income
Benefit is elected.

Lincoln SmartSecurity (Reg. TM) Advantage. Contractowners who purchased Lincoln
SmartSecurity (Reg. TM) Advantage may elect the i4LIFE (Reg. TM) Advantage
Select Guaranteed Income Benefit. At the time the initial Guaranteed Income
Benefit is determined, the remaining Guaranteed Amount (if greater than the
Account Value), will be used to calculate the Guaranteed Income Benefit. The
initial Guaranteed Income Benefit will be equal to the applicable percentage
based on the age of the younger of the Contractowner and the Secondary Life
(joint life), at the time the Guaranteed Income Benefit is elected, multiplied
by the remaining Guaranteed Amount (if greater than the Account Value), will be
used to calculate the Guaranteed Income Benefit.

The Guaranteed Income Benefit percentage applicable to Contractowners who
transition from Lincoln SmartSecurity (Reg. TM) Advantage to Select Guaranteed
Income Benefit are set forth in a supplement to this prospectus, called a Rate
Sheet. Lincoln SmartSecurity (Reg. TM) Advantage purchasers use the date of the
i4LIFE (Reg. TM) Advantage Select Guaranteed Income Benefit election to
determine the percentage applicable to their contracts. See the Select
Guaranteed Income Benefit section above for more information about the Rate
Sheet.

4LATER (Reg. TM) Advantage (Managed Risk). Contractowners who elected 4LATER
(Reg. TM) Advantage (Managed Risk) must transition to i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit (Managed Risk) in accordance with the same
terms set out above for i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit
(Managed Risk). When this decision is made, the Contractowner can use the
greater of the Income Base under 4LATER (Reg. TM) Advantage (Managed Risk) or
the Account Value to calculate the amount of the initial Guaranteed Income
Benefit. All other provisions of i4LIFE (Reg. TM) Advantage Guaranteed Income
Benefit (Managed Risk) apply.

Lincoln Lifetime IncomeSM Advantage. Contractowners who purchased Lincoln
Lifetime IncomeSM Advantage are guaranteed that they may use the remaining
Guaranteed Amount (if greater than the Account Value) at the time the
Guaranteed Income Benefit is determined, to increase the Guaranteed Income
Benefit (version 2 or version 3 only). The Guaranteed Income Benefit will be
increased by the ratio of the remaining Guaranteed Amount to the Contract Value
at the time the initial i4LIFE (Reg. TM) Advantage payment is calculated. In
other words, the Guaranteed Income Benefit will equal 75% of the initial
Regular Income Payment times the remaining Guaranteed Amount divided by the
Contract Value, if the Guaranteed Amount is greater than the Contract Value.
See the Lincoln Lifetime IncomeSM Advantage - i4LIFE (Reg. TM) Advantage Option
section for an example of calculation of the Guaranteed Income Benefit using
the purchased Lincoln Lifetime IncomeSM Advantage Guaranteed Amount.

Contractowners who purchased Lincoln Lifetime IncomeSM Advantage may also
choose to transition the version of the Guaranteed Income Benefit that is then
currently available; however, only the Account Value and not the Guaranteed
Amount will be used to establish the Guaranteed Income Benefit.

The following is an example of how the Guaranteed Amount or the Income Base
from another Living Benefit Rider may be used to calculate the i4LIFE (Reg. TM)
Advantage Guaranteed Income Benefit. The example assumes that a 4.5% Guaranteed
Income Benefit percentage is used to calculate the initial Guaranteed Income
Benefit.

Account Value (equals Contract Value on date i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit is elected).................................. $100,000
Guaranteed Amount/Income Base on date i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit is elected................................... $140,000
Initial Regular Income Payment......................................... $ 5,411
Initial Guaranteed Income Benefit (4.5% x $140,000 Guaranteed
Amount/Income Base which is greater than $100,000 Account
Value)................................................................. $ 6,300

Impacts to i4LIFE (Reg. TM) Advantage Regular Income Payments. When you select
the i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit, certain restrictions
will apply to your contract:
o A 3% AIR will be used to calculate the Regular Income Payment under Select
Guaranteed Income Benefit; a 4% AIR will be used to calculate the Regular
Income Payments under all other versions of Guaranteed Income Benefit;
o The minimum Access Period required for Guaranteed Income Benefit (version
4) is the longer of 20 years (15 years for versions 2 and 3) or the
difference between your age (nearest birthday) and age 100 (age 90 for
version 4 prior to May 21, 2012; age 85 for versions 2 and 3). The minimum
Access Period required for i4LIFE (Reg. TM) Advantage Select Guaranteed
Income Benefit

109
<PAGE>

and i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit (Managed Risk) is
the longer of 20 years or the difference between your age (nearest
birthday) and age 90. We may change this Access Period requirement prior
to election of the Guaranteed Income Benefit. Different minimum Access
Period requirements may apply if you use the greater of the Account Value
or Income Base (less amounts paid since the last automatic step-up) under
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk), Lincoln Lifetime
IncomeSM Advantage 2.0 or 4LATER (Reg. TM) Advantage (Managed Risk) to
calculate the Guaranteed Income Benefit as set forth below:

Minimum Access Period
Elections of i4LIFE (Reg. TM) Advantage prior
to the 5th Benefit Year anniversary

Purchasers of Lincoln Lifetime IncomeSM Longer of 20 years or the difference
Advantage 2.0 on or after April 2, 2012 between your age and age 100
Purchasers of Lincoln Lifetime IncomeSM Longer of 20 years or the difference
Advantage 2.0 (Managed Risk) between your age and age 90
Purchasers of 4LATER (Reg. TM) Advantage
(Managed Risk)
Purchasers of Lincoln Lifetime IncomeSM
Advantage 2.0 prior to April 2, 2012

Elections of i4LIFE (Reg. TM) Advantage on and
after the 5th Benefit Year anniversary

Purchasers of Lincoln Lifetime IncomeSM Longer of 20 years or the difference
Advantage 2.0 on or after April 2, 2012 between your age and age 95
Purchasers of Lincoln Lifetime IncomeSM Longer of 15 years or the difference
Advantage 2.0 (Managed Risk) between your age and age 85
Purchasers of 4LATER (Reg. TM) Advantage
(Managed Risk)
Purchasers of Lincoln Lifetime IncomeSM
Advantage 2.0 prior to April 2, 2012

o The maximum Access Period available is to age 115 for nonqualified
contracts; to age 100 for qualified contracts.

If you choose to lengthen your Access Period (which must be increased by a
minimum of 5 years), your Regular Income Payment will be reduced. For versions
1, 2 and 3 of the Guaranteed Income Benefit, an extension of your Access Period
will also reduce your i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit in
proportion to the reduction in the Regular Income Payment. This reduction of
the i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit does not apply to
Select Guaranteed Income Benefit, Guaranteed Income Benefit (Managed Risk) or
Guaranteed Income Benefit (version 4). If you choose to shorten your Access
Period, i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit will terminate.
Refer to the example in the 4LATER (Reg. TM) Guaranteed Income Benefit section
of this prospectus.

The i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit will terminate due to
any of the following events:
o the death of the Annuitant (or the later of the death of the Annuitant
or Secondary Life if a joint payout was elected); or
o a Contractowner requested decrease in the Access Period or a change to
the Regular Income Payment frequency; or
o upon written notice from the Contractowner to us; or
o assignment of the contract; or
o failure to comply with Investment Requirements.

A termination due to a decrease in the Access Period, a change in the Regular
Income Payment frequency, or upon written notice from the Contractowner will be
effective as of the Valuation Date on the next Periodic Income Commencement
Date anniversary. Termination will be only for the i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit and not the i4LIFE (Reg. TM) Advantage election,
unless otherwise specified. However, if you used the greater of the Account
Value or Income Base under a previously held Living Benefit Rider to establish
the Guaranteed Income Benefit, any termination of the Guaranteed Income Benefit
will also result in a termination of the i4LIFE (Reg. TM) Advantage election.
If you used your Lincoln Lifetime IncomeSM Advantage Guaranteed Amount to
establish the Guaranteed Income Benefit, you must keep i4LIFE (Reg. TM)
Advantage and the Guaranteed Income Benefit in effect for at least 3 years. If
you terminate the i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit you may
be able to re-elect it, if available, after one year. The election will be
treated as a new purchase, subject to the terms and charges in effect at the
time of election and the i4LIFE (Reg. TM) Advantage Regular Income Payment will
be recalculated. The i4LIFE (Reg. TM) Advantage Guaranteed Income Benefit will
be based on the Account Value at the time of the election.

Availability. The Guaranteed Income Benefit is available with nonqualified and
qualified (IRAs and Roth IRAs) contracts. The Contractowner must be under age
96 for nonqualified contracts and under age 81 for qualified contracts at the
time this rider is elected. Select Guaranteed Income Benefit and Guaranteed
Income Benefit (Managed Risk) are the only versions of the Guaranteed Income
Benefit currently available for election unless you are guaranteed the right to
elect a prior version under the terms of your Living Benefit Rider.

Withdrawals. You may request a withdrawal at any time prior to or during the
Access Period. We reduce the Account Value by the amount of the withdrawal, and
all subsequent Regular Income Payments and Guaranteed Income Benefit payments,
if applicable, will be recalculated. The Guaranteed Income Benefit is reduced
proportionately. Withdrawals may have tax consequences. See Federal Tax
Matters. The Interest Adjustment may apply.

110
<PAGE>

The following example demonstrates the impact of a withdrawal on the Regular
Income Payments and the Guaranteed Income Benefit payments:

i4LIFE (Reg. TM) Regular Income Payment before additional withdrawal.............. $ 1,200
Guaranteed Income Benefit before additional withdrawal............................ $ 900
Account Value at time of additional withdrawal.................................... $150,000
Additional withdrawal............................................................. $ 15,000 (a 10% withdrawal)

Reduction in Guaranteed Income Benefit for additional withdrawal = $900 x 10% = $90
Guaranteed Income Benefit after additional withdrawal = $900 - $90 = $810

Surrender. At any time prior to or during the Access Period, you may surrender
the contract by withdrawing the surrender value. If the contract is
surrendered, the contract terminates and no further Regular Income Payments
will be made. The Interest Adjustment may apply.

Termination. You may terminate i4LIFE (Reg. TM) Advantage prior to the end of
the Access Period by notifying us in writing. The termination will be effective
on the next Valuation Date after we receive the notice.

For IRA annuity contracts, upon termination, the i4LIFE (Reg. TM) Advantage
charge will end and the Separate Account Annual Expenses for the Death Benefit
you have elected will resume. Your Contract Value upon termination will be
equal to the Account Value on the Valuation Date we terminate i4LIFE (Reg. TM)
Advantage.

For nonqualified contracts, your i4LIFE (Reg. TM) Advantage Death Benefit will
terminate, and the Account Value Death Benefit will be in effect. The i4LIFE
(Reg. TM) Advantage charge will end, and the charge for the Account Value Death
Benefit will begin. All earnings in the contract will be subject to income
taxation in the year of the termination. A termination will be treated as a
surrender for income tax purposes. If you choose to keep your underlying
contract in force, this transaction will be treated as a repurchase for
purposes of calculating future income taxes. Your Contract Value upon
termination will be equal to the Account Value on the Valuation Date we
terminate i4LIFE (Reg. TM) Advantage.

Lincoln Long-Term CareSM Advantage

The Lincoln Long-Term CareSM Advantage Rider (the "LTC Rider") provides a way
to manage the potential impact of long-term care expenses. The LTC Rider
provides the potential to receive as LTC Benefits your Purchase Payments plus
an additional amount equal to two times your Purchase Payments. These benefits
are paid to you income tax-free. In addition, you have the opportunity to
increase your tax-free long-term care benefits if there is investment gain in
your contract. The LTC Rider provides monthly benefit payments ("Long-Term Care
Benefits" or "LTC Benefits") in the event: (1) you are "Chronically Ill," which
means you are either unable to perform two out of six functional activities of
daily living (such as feeding yourself, bathing, or dressing) or you suffer
from a severe cognitive impairment that requires substantial supervision, and
(2) you are receiving long-term care services that qualify for coverage under
the LTC Rider ("Long-Term Care Services"). Long-Term Care Services include, but
are not limited to, nursing home care, hospice care, adult day care, assisted
living services, home health care and rehabilitative services.

If you purchase the LTC Rider, you may not make any additional Purchase
Payments more than 90 days from the contract date. Accordingly, you should plan
on making enough Purchase Payments to fund your anticipated needs under the
contract during the first 90 days. Even then, the LTC Rider may not cover all
of the long-term care expenses incurred by you during the period of coverage.
On the other hand, you may never need long-term care services or, even if you
do, you may never qualify to receive any of the benefits provided under this
LTC Rider even though you have paid a charge(s) for the LTC Rider. Accordingly,
we strongly advise you to review carefully all contract and rider limitations.
The risks associated with the LTC Rider are outlined below.

The LTC Rider, if purchased, must be elected at the time you purchase your
contract and may not be added to existing contracts. While the LTC Rider is in
force, you may not purchase any of the other Living Benefit Riders that we
offer. By purchasing the LTC Rider, you will be limited in how you may invest
and must adhere to Investment Requirements. See The Contracts - Investment
Requirements. There is no guarantee that the LTC Rider will be available in the
future, as we reserve the right to discontinue the benefit at any time. In
addition, we may make different versions of the LTC Rider available.

References to Purchase Payment in the Lincoln Long-Term CareSM Advantage
description refer to Gross Purchase Payments.

The features and charges for this rider and also the terms and definitions will
vary in certain states. You should discuss the specific provisions applicable
to your state with your registered representative. Your rider will contain the
specific provisions applicable to you.

Why would I want to purchase the LTC Rider? Some of the reasons why you may
consider purchasing the LTC Rider are:
o you would like to pay for Long-Term Care Services by withdrawing your
Contract Value on a tax-free basis ;

111
<PAGE>

o for the potential of receiving, in addition to your Contract Value, up to two
times your Gross Purchase Payments in tax-free LTC Benefit payments that we
pay from our own assets in our general account during the Extension Benefit
period;
o for the favorable tax treatment of the charges deducted in order to pay for
the LTC Rider (compared to taking a withdrawal from an annuity contract to
pay premiums on a traditional stand-alone long-term care insurance policy);
o for the opportunity to receive investment gain in the contract as tax-free
LTC Benefits, if you purchase the Growth Benefit option;
o you want long-term care insurance, but want to retain the ability to access
your Contract Value for emergencies (although this could reduce or terminate
the LTC Rider), a feature that may not be available in stand-alone long-term
care insurance policies; and
o you want long-term care insurance, but at the same time you want to retain
the ability to have a Death Benefit, a feature that may not be available in
stand-alone long-term care insurance policies (although you should
understand that Acceleration Benefit payments and Growth Benefit payments
are considered withdrawals that reduce the amount of the Death Benefit).

Are there ways I can pay long-term care expenses under the contract other than
by purchasing the LTC Rider?
o You can always access your Contract Value through conventional withdrawals
from your contract, even if you have not elected to purchase the LTC Rider.
However, withdrawals may be subject to income taxes (as investment gains, if
any, are deemed to be withdrawn first), and if taken before age 591/2,
penalty taxes. Such withdrawals also would be limited to your Contract
Value, which may decrease. Withdrawals may be taken to cover long-term care
expenses for yourself or anyone else. LTC Benefits, on the other hand, are
subject to favorable tax treatment and may exceed the amount of Contract
Value you would otherwise have had available. LTC Benefits may be received
only if you are the Covered Life.
o You can also access your Contract Value through conventional annuity
payments, even if you have not elected to purchase the LTC Rider. However,
while not fully taxable until cost basis has been returned, such payments
are not tax-free and are intended to provide protected income payments over
an extended lifetime. LTC Benefits, however, may be taken over a shorter
period of time (as short as six years) and are received tax-free.
o We offer other Living Benefit Riders that provide a guaranteed income stream
and/or a guaranteed withdrawal benefit that may be used to pay for long-term
care services. Like the LTC Rider, benefit payments under these riders may
exceed Contract Value, but it may take you 20 years or more to receive them.
In addition, these other Living Benefit Riders are not Qualified Long-Term
Care insurance and their benefits cannot be received tax-free, even if used
to pay long-term care expenses. On the other hand, the cost of the LTC Rider
may be higher than the cost of other Living Benefit Riders we sell, and the
procedures to determine eligibility and to request benefits under the LTC
Rider are more extensive than those required to receive benefits under other
Living Benefit Riders. In any case, you will be unable to purchase any other
Living Benefit Rider that we may offer if you purchase the LTC Rider. See
The Contracts - Living Benefit Riders.
o You may also speak to your registered representative about other ways to pay
for long-term care expenses. There are insurance contracts, other than
annuities, which provide long-term care benefits and there may also be
programs offered by your state.

How do I qualify for LTC Benefits? If, after the first Contract Year (subject
to state variations), you become Chronically Ill and are receiving Long-Term
Care Services, you may receive monthly LTC Benefit payments under the LTC
Rider. Chronically Ill means you are either unable to perform two out of six
functional activities of daily living (such as feeding yourself, bathing, or
dressing) or you suffer from a severe cognitive impairment that requires
substantial supervision. You should understand that although you may begin
receiving LTC Benefits at any time after the first Contract Year, the LTC Rider
was designed optimally for LTC Benefits to be paid on or after the fifth
contract anniversary.

Importantly, the LTC Rider is not self-effecting and you must satisfy all of
the conditions, and take the necessary steps to apply and qualify for, and then
maintain your eligibility for, benefits under the LTC Rider. For example, a
licensed health care practitioner must certify in a written assessment that you
are Chronically Ill, and also complete a plan of care for you, which is a
written plan of care that is developed based on your written assessment and
specifies the type, frequency and duration of all Long-Term Care Services you
will need ("Plan of Care"). In addition, you must wait 90 days after the date
that you start to receive Long-Term Care Services before we will start paying
LTC Benefits (the "deductible period"). Once we have determined that you are
eligible for benefits, you may submit a Request for Benefits form. The Request
for Benefits form will be used to pay LTC Benefits for a period of up to three
months. You will need to provide a new Request for Benefits form to continue to
receive LTC Benefits beyond the period requested in the Request for Benefits
form.

How do LTC Benefits impact my Contract Value? LTC Benefits may be paid out of
your Contract Value or from our own assets in our general account. In general,
the LTC Rider allows you first to access your own Contract Value on a tax-free
basis until you either receive your Gross Purchase Payments or your entire
Contract Value is depleted, whichever occurs first. At that time, if you are
still living, we will continue to make the same tax-free payments to you from
our own assets in our general account for a designated period of time or until
your death, if earlier. Because we transfer some or all of your Contract Value
to the LTC Fixed Account (which is part of our general account) on the date we
make the determination of your initial eligibility to receive LTC Benefits, all
LTC Benefit payments are subject to claims of our general creditors and to the
claims-paying ability of Lincoln Life. If you begin receiving LTC Benefits and
then stop receiving LTC Benefits for twelve consecutive months, we will allow
you to transfer in installments the Contract Value in the LTC Fixed Account
back to the Subaccounts. See LTC Fixed Account.

112
<PAGE>

Are the LTC Benefit payments tax-free? The LTC Rider is a Qualified Long-Term
Care Insurance Policy under Section 7702B(b) of the Internal Revenue Code of
1986, as amended. Any LTC Benefits paid under the LTC Rider, as well as any
charges deducted under the Rider, will not be reported as taxable income to
you, subject to the Internal Revenue Code limitations.

What are the LTC Benefits? There are two primary LTC Benefits: the Acceleration
Benefit and the Extension Benefit. There is also an additional optional LTC
Benefit - the Growth Benefit - that is available for an additional charge. The
Acceleration and Growth Benefits are calculated based on the LTC Guaranteed
Amount. The initial Extension Benefit is calculated based on the initial
Acceleration Benefit and will be double the dollar amount of the Acceleration
Benefit. The LTC Guaranteed Amount initially is equal to the Acceleration
Benefit, which is your initial Gross Purchase Payment and any subsequent
Purchase Payments made in the first 90 days after purchase. (If you purchase
the LTC Rider, you may not make additional Purchase Payments more than 90 days
after purchase.) If you elect the Growth Benefit option, the LTC Guaranteed
Amount increases annually by the amount of investment gain, if any, in the
Subaccounts and any fixed account in which you are invested through automatic
step-ups. You should understand that the LTC Guaranteed Amount is not available
to you as a lump sum withdrawal or as a Death Benefit. Payment of Acceleration
Benefits and Growth Benefits decrease the LTC Guaranteed Amount by the amount
of the respective LTC Benefit payment. The LTC Guaranteed Amount is also
reduced, but on a proportional basis, by certain withdrawals that exceed a
specified percentage of the amount that the Contract Value exceeds the LTC
Guaranteed Amount, called "Excess Withdrawals." The Extension Benefit is also
reduced by Excess Withdrawals.
o Acceleration Benefit: The first payments we will make under the LTC Rider
will be Acceleration Benefits, which are paid out of your Contract Value.
The Acceleration Benefit is not affected by investment results. Acceleration
Benefits are paid from your Contract Value; however, if your Contract Value
is reduced to zero before the Acceleration Benefit is paid, we will make
remaining payments from our own assets in our general account. In some
states the Acceleration Benefit is referred to as the Accumulation Long-Term
Care Benefit.
o Extension Benefit: When the Acceleration Benefit is reduced to zero, we will
pay you Extension Benefit payments. Extension Benefits are paid from our
general account. This means that, while Acceleration Benefits are funded in
whole or in part by your Contract Value, we will make Extension Benefit
payments from our own assets in our general account. The initial Extension
Benefit will be double the dollar amount of the initial Acceleration
Benefit. The Extension Benefit is not affected by investment results.
o Growth Benefit: If you are interested in potentially being able to "lock in"
any investment gains in your contract with respect to your LTC Rider, you
may purchase the Growth Benefit option at issue for an additional charge.
The Growth Benefit option increases the LTC Guaranteed Amount annually by
the amount of investment gain, if any, in the Subaccounts and any fixed
account in which you are invested through automatic step-ups. Automatic
step-ups occur annually through age 75 or until you reach the maximum LTC
Guaranteed Amount of $800,000, whichever occurs earlier. If you do not
purchase the Growth Benefit option, any investment gain will not increase
your LTC Benefit payments. While you can withdraw any gains from your
Contract Value the same way you make regular withdrawals from your contract,
doing so could have a negative impact on your LTC Benefits, as described in
more detail below. If you elect the Growth Benefit option, you will not be
able to make any Conforming Withdrawals and all withdrawals will be Excess
Withdrawals that reduce your LTC Benefits. Conforming and Excess Withdrawals
are described below in more detail. Once you begin receiving LTC Benefits
and Contract Value is moved to the LTC Fixed Account, the Contract Value in
the LTC Fixed Account will only increase by the amount of interest credited
to the LTC Fixed Account. Growth Benefits are paid from your Contract Value;
however, if your Contract Value is reduced to zero due to withdrawals and/or
adverse investment experience of the Subaccounts before the locked-in Growth
Benefit is paid, we will make remaining payments from our general account.

When are LTC Benefits paid? LTC Benefits are paid monthly, and you tell us the
monthly amount that you want to receive up to a maximum monthly amount over a
designated period of time. If you are residing in a nursing home or are
receiving hospice care, you may request monthly payments up to the full monthly
maximum. See Maximum Monthly Level Benefit. Contractowners in certain states
may also request up to the full monthly maximum for assisted living services.
However, if you are eligible and qualify for other qualified Long-Term Care
Services (such as home health care or adult day care) but are not residing in a
nursing home or receiving hospice care, you may only request up to 50% of the
monthly maximum. Contractowners in the following states may only request up to
50% of the monthly maximum for assisted living services: AK, AL, AR, AZ, DC,
DE, GA, IA, KY, LA, MD, ME, MI, MO, MS, MT, NC, ND, NE, NM, OK, OR, RI, SC, SD,
WV, WY. See Determining LTC Benefits - Maximum Monthly Level Benefit and
Maximum Monthly Growth Benefit for a more detailed description.

The Acceleration Benefit will be paid monthly over a period of time known as
the "Acceleration Benefit Duration." The Acceleration Benefit Duration will be
at least 24 months, but may be longer if you take payments in early Contract
Years, or if you take less than the maximum permitted. After the Acceleration
Benefit Duration ends, the Extension Benefit will then be paid over a period of
time known as the "Extension Benefit Duration." The Extension Benefit Duration
is twice the length of the Acceleration Benefit Duration. Growth Benefit
payments are spread over both the Acceleration Benefit Duration and the
Extension Benefit Duration. The Acceleration Benefit Duration and the Extension
Benefit Duration together make up the LTC Benefit Duration. The Acceleration
Benefit Duration and Extension Benefit Duration will usually run consecutively
and without interruption unless you voluntarily elect to stop payments or
become ineligible to receive LTC Benefits. The LTC Benefit Durations would
resume if you elect to restart payments or become eligible to receive LTC
Benefits.

113
<PAGE>

On the contract date, the Acceleration Benefit Duration is 84 months (i.e., 7
years), so it would take you 84 months to receive the total Acceleration
Benefit. However, the Acceleration Benefit Duration shortens each year until
the fifth contract anniversary, when the Acceleration Benefit Duration will be
its shortest duration of 24 months (i.e., 2 years). Equally important, as the
Acceleration Benefit Duration shortens, the maximum monthly amounts under the
LTC Rider increase. If you wait to request to begin receiving LTC Benefit
payments until the fifth contract anniversary or after, you will maximize the
monthly LTC Benefit payment available to you. For example, if you wait to
request to begin receiving LTC Benefit payments until the fifth contract
anniversary, the Acceleration Benefit Duration will be 24 months, and the
Extension Benefit Period will be 48 months, or twice the Acceleration Benefit
Period, making the LTC Benefit Duration 72 months. The Growth Benefit would be
paid over all 72 months (over both the Acceleration Benefit Duration and the
Extension Benefit Duration). If you take less than the maximum monthly amount
(by choice or by the 50% limitation applied to non-nursing home/non-hospice
care), you will extend the Acceleration Benefit Duration (and thus the
Extension Benefit Duration).

How do withdrawals affect my LTC Benefits? The LTC Rider may permit limited
withdrawals of Contract Value on an annual basis that will not impact your LTC
Benefit payments. You may withdraw each year (and in addition to LTC Benefit
payments, if you happen to be receiving these at the same time) up to 5% of the
amount that your Contract Value exceeds the LTC Guaranteed Amount (if there is
any such excess) as of the immediately preceding contract anniversary, without
a decrease in the LTC Benefits. Such withdrawals are referred to as "Conforming
Withdrawals." However, the amount of withdrawals that exceed 5% of any excess
of the Contract Value over the LTC Guaranteed Amount will be an "Excess
Withdrawal." This means if the LTC Guaranteed Amount is greater than or equal
to the Contract Value on any contract anniversary, any withdrawal will be an
Excess Withdrawal.

Excess Withdrawals will result in proportional reductions to all LTC Benefits
by the same percentage that the Excess Withdrawal reduces the Contract Value.
Excess Withdrawals may result in significant reductions of benefits under the
LTC Rider and/or its termination. Accordingly, if you think that you may need
to access your Contract Value through withdrawals, the LTC Rider may not be a
good investment for you.

To further explain the application of this limitation to withdrawals, if you
have not purchased the Growth Benefit option, you may be able to make
Conforming Withdrawals if your Contract Value has grown above your Gross
Purchase Payments. However, accessing more than modest amounts (i.e., more than
5%) of those investment gains could have a significant negative impact on your
LTC Benefits. If you elect the Growth Benefit option, on the other hand, you
will not be able to make any Conforming Withdrawals and all withdrawals will be
Excess Withdrawals that negatively impact your LTC Benefits. In addition, since
Excess Withdrawals result in proportional reductions to all LTC Benefits, your
LTC Benefits may be reduced by more than dollar for dollar when those benefits
exceed the Contract Value. If you reach age 76 or the maximum LTC Guaranteed
Amount limit of $800,000, however, you may be able to then begin making
Conforming Withdrawals if your Contract Value exceeds the LTC Guaranteed Amount
on the immediately preceding contract anniversary because the Growth Benefit no
longer increases after this time. This maximum LTC Guaranteed Amount includes
the combined LTC Guaranteed Amounts of all Lincoln Life variable annuity
contracts (or contracts issued by our affiliates) owned by you.

If the LTC Guaranteed Amount is equal to or greater than your Contract Value on
a contract anniversary, any withdrawal in that Contract Year will be an Excess
Withdrawal. Any Excess Withdrawal that reduces the Contract Value to zero will
terminate the LTC Rider and the only LTC Benefit that you may be eligible to
receive will be the Optional Nonforfeiture Benefit, if elected. See the
Withdrawals section later in this discussion.

Are there any restrictions on how I invest my money if I purchase the LTC
Rider? By purchasing the LTC Rider, you will be limited in how you can invest
in the Subaccounts and the fixed account. Specifically, you may invest only
pursuant to Investment Requirements as described in this prospectus. The
Subaccounts eligible for investment are designed for steadier, but potentially
more modest, investment performance than you may otherwise receive by investing
in Subaccounts with more aggressive investment objectives. The fixed account
will be available to you for dollar-cost averaging purposes only. When we
determine you are eligible to receive LTC Benefits, we will move Contract Value
equal to the LTC Guaranteed Amount into the LTC Fixed Account from which we
will make Acceleration Benefit payments and, if elected, Growth Benefit
payments. Accordingly, after that point, such transferred amounts will not
participate in market performance, but will accrue interest.

What are the charges for the LTC Rider? While the LTC Rider is in effect, there
is a charge that is deducted from the Contract Value on a quarterly basis (the
"LTC Charge"). The LTC Charge consists of the sum of three charges: the
Acceleration Benefit Charge, the Extension Benefit Charge, and the Optional
Nonforfeiture Benefit Charge (if elected). The LTC Charge will be higher if you
choose the Growth Benefit option because the Acceleration Benefit Charge rate
is higher for the Growth Benefit option than it is without it, and because the
LTC Guaranteed Amount may also be higher if there is contract growth. The
Extension Benefit Charge and the Optional Nonforfeiture Benefit Charge do not
have guaranteed maximum annual charge rates and may change at any time, subject
to state regulatory approval. For more information, please see Expense Tables
and Charges and Other Deductions - Rider Charges - Long-Term CareSM Advantage
Charges.

Can I add the LTC Rider to an existing contract? The LTC Rider may only be
purchased at the time the contract is issued and is not available if you have
already purchased a contract. The availability and certain options and features
of the LTC Rider will depend upon your state's approval, and may not be
available in some states. Check with your registered representative regarding
the availability of the LTC Rider.

114
<PAGE>

What if I decide to terminate the LTC Rider? The LTC Rider provides a
nonforfeiture benefit if you terminate the LTC Rider in certain circumstances.
There is a nonforfeiture benefit, called the "Contingent Nonforfeiture
Benefit," provided without charge that pays a reduced long-term care insurance
benefit if you terminate the LTC Rider due to a specified increase of the
charge for the Extension Benefit and/or the Optional Nonforfeiture Benefit if
elected. You may also choose to add an enhanced nonforfeiture benefit, called
the "Optional Nonforfeiture Benefit," for an additional charge that pays a
reduced long-term care insurance benefit if you terminate the LTC Rider for any
reason after three years. The only difference between the two nonforfeiture
benefits is the circumstances under which you may terminate the LTC Rider to
receive the benefit. Under either nonforfeiture benefit you may receive an
amount equal to the greater of one month's maximum monthly benefit or an amount
equal to the sum of all Extension Benefit Charges and Optional Nonforfeiture
Benefit Charges paid minus the amount of any Extension Benefits paid prior to
the LTC Rider's termination. Termination of the LTC Rider does not
automatically terminate the underlying contract.

What are the risks associated with the LTC Rider? Some of the principal risks
associated with the LTC Rider are:
o You may never need long-term care. Thus, you may pay for a feature from which
you never realize any benefits.
o Even if you need long-term care, you may not qualify for LTC Benefits under
the LTC Rider, or the LTC Benefits you receive may not cover all of the
long-term expenses you incur since the maximum amount of LTC Benefit you may
receive with the Growth Benefit is capped at $22,222 per month and $16,666
per month without the Growth Benefit, assuming you wait until after the
fifth contract anniversary to receive LTC Benefits.
o You may die before you obtain all the LTC Benefit payments to which you would
otherwise be entitled. Remaining LTC Benefit payments that would have
otherwise been payable, do not increase the amount paid on your death.
o Your ability to withdraw Contract Value without substantially and irrevocably
reducing your LTC Benefits will be limited. Accordingly, you should not
purchase the LTC Rider if you anticipate taking withdrawals or needing more
than limited access to your Contract Value. In general, if you elect the
Growth Benefit option, you will not be able to make any withdrawals without
permanently reducing your LTC Benefits. If you do not purchase the Growth
Benefit, you will be able to make withdraws of up to 5% of the excess of
your Contract Value over the LTC Guaranteed Amount annually without reducing
your LTC Benefits. That restriction will exist until LTC Benefit payments
are complete or the LTC Rider otherwise terminates.
o You must wait at least one year before you can take LTC Benefit payments.
o If you take LTC Benefit payments before the fifth contract anniversary, your
monthly payments will be smaller and it will take you longer to receive the
full amount of LTC Benefits than if you begin taking LTC Benefit payments
after the fifth contract anniversary.
o Even if you would otherwise be able to qualify for LTC Benefits, you may fail
to file required forms or documentation and have your benefit denied or
revoked.
o Your variable Subaccount investments will be restricted to certain
Subaccounts and in certain percentages if you purchase the LTC Rider; the
Subaccounts are designed for steadier, but potentially more modest,
investment performance that you may otherwise receive by investing in
Subaccounts with more aggressive investment objectives.
o If you begin taking LTC Benefit payments, your Contract Value to the extent
of the LTC Guaranteed Amount will be transferred to the LTC Fixed Account,
where it will not be insulated from the claims of our general creditors,
will be subject to the claims-paying ability of Lincoln Life, and will not
participate in any market performance.
o If you purchase the LTC Rider, you may not purchase any of the other Living
Benefit Riders that we offer.
o The Extension Benefit Charge and Optional Nonforfeiture Benefit Charge rates
are not subject to a maximum, and may increase significantly (subject to
state approval).
o LTC Benefit payments may reduce your Death Benefit by deducting withdrawals
in the same proportion that the withdrawal reduces the Contract Value.

Eligibility to Purchase the LTC Rider

Eligibility Requirements. If you wish to purchase the LTC Rider, you must meet
certain eligibility requirements:
o The LTC Rider must be purchased at the same time you purchase your contract.
The LTC Rider cannot be added to existing contracts.
o LTC Benefits are payable to the person insured under the LTC Rider (the
"Covered Life"). The Covered Life must be the Contractowner and the
Annuitant under the contract. If a grantor trust owns the contract, the
Covered Life will be the Annuitant. There can only be one Covered Life.
Thus, if the contract has joint owners, the Covered Life must be the primary
owner.
o The Covered Life must be at least 45 years of age and not older than 74 years
of age on the contract date, unless the Growth Benefit option is elected, in
which case the Covered Life may not be older than 69 years of age. We must
confirm your eligibility through a verification process that includes a
review of prescription medications that you are taking, or have taken in the
past 5 years, and your medical history. Certain medical conditions or the
use of certain medications or medical devices will disqualify you from being
eligible to purchase the LTC Rider. Some of the types of medical conditions
that will disqualify you from purchasing the rider are Cancer, Parkinson's
Disease, Multiple Sclerosis, Heart Disease, Diabetes, Alzheimer's/Dementia,
Bipolar Disorder, Schizophrenia, AIDS, Pulmonary Disorders, Kidney Disease,
Liver Disease, Lupus, Rheumatoid Arthritis and Myasthenia Gravis as well as
medications that are used to treat these conditions. This list is not
exhaustive, there are other conditions and medications that are not
included. We reserve the right to add or remove medical conditions and
prescription drugs at our discretion.

115
<PAGE>

o You will be required to sign a waiver of confidentiality form that will allow
us to conduct a third-party prescription drug screening at the time we
process your application.

Issuance Procedures. We will notify you if we decline to issue the LTC Rider
within 2 days of our receipt of your application that is in good order. We will
not issue the LTC Rider if you do not meet the eligibility requirements. If we
decline to issue the LTC Rider, we will still issue the annuity contract.

Required Signature. If the LTC Rider is issued, you will be required to sign
and return one copy of a contract amendment to verify that the medical
statements relating to your medical history that you provided upon application
for the LTC Rider are true. The signed contract amendment must be returned to
us within 45 days of the contract date. Failure to sign and return a signed
copy of the contract amendment within 45 days of the contract date will result
in an automatic termination of the LTC Rider. If the LTC Rider is terminated
for failure to return the contract amendment, you will not be able to terminate
the contract without penalty (because the free look period will have expired).
Check with your registered representative regarding state specific requirements
in California and Maryland.

Limitations on Purchase Payments. The LTC Benefits will be calculated based
upon the dollar amount of Gross Purchase Payments made into the contract in the
first 90 days after the contract date. No Purchase Payments may be made into
the contract after 90 days from the contract date. The minimum Gross Purchase
Payment amount under a contract if you purchase the LTC Rider is $50,000
($75,000 in California and South Dakota), and the maximum amount of cumulative
Gross Purchase Payments that can be made during that 90-day period is $400,000.
There is no guarantee that the LTC Rider or certain options will be available
for new purchasers in the future as we reserve the right to discontinue the LTC
Rider at any time.

Limitations on Purchasing Other Riders. You may not purchase any other Living
Benefit Rider otherwise available with your contract or any other living
benefits that we may offer in the future while you own the LTC Rider.

Investment Restrictions. By purchasing the LTC Rider, you will be limited in
how you can invest in the Subaccounts and the fixed account. You must allocate
all of your Purchase Payments and Contract Value at all times in accordance
with Investment Requirements. For details about these limitations, see The
Contracts - Investment Requirements.

Eligibility to Receive LTC Benefit Payments

Establishing Initial Eligibility for LTC Benefits

You will not be eligible to receive LTC Benefit payments under the LTC Rider
until after the first Contract Year. (Although we refer to the first contract
anniversary throughout this discussion, this provision may vary by state.)
After the first contract anniversary, you may start the process to request and
receive LTC Benefits. You must take the following steps to start receiving LTC
Benefit payments:

PLEASE NOTE: The process to request LTC Benefits is involved and you should carefully
consider that you may need substantial
assistance from a family member or other trusted person to claim and obtain LTC Benefits
once you are receiving long-term care.
In this regard, our claims-processing department can help you if necessary. You should
plan ahead to ensure that a person you
trust has agreed to be responsible for completing the initial process, as well as the
ongoing requirements, discussed below.

Step 1: You must first notify us by phone at 800-487-1485, or send written notice to: PO Box 21008, Dept. 0514, Greensboro,
NC
27420-1008 of your intent to request LTC Benefits. We will process any notifications or requests for LTC Benefits
submitted
by you, or on your behalf by your legally authorized representative, which may include a court-appointed conservator
or an
individual acting under a valid power of attorney. Before starting the eligibility process we will verify that the
first contract
anniversary has passed.
Step 2: Once we receive notification of your intent to request LTC Benefits, we will provide you with claims forms which will
be
used to determine your initial eligibility to receive LTC Benefits.
Step 3: You must complete and submit the claims forms. This requires that you have a Licensed Health Care Practitioner
certify in a
written assessment that you are Chronically Ill and complete a Plan of Care for you, which is a written plan of care
that is
developed based on your written assessment and specifies the type, frequency and duration of all Long-Term Care
Services
you will need.
Step 4: We will determine your eligibility based on the 1) assessment; 2) Plan of Care; and 3) whether you have been or will
be
receiving Long-Term Care Services covered by the LTC Rider due to you being Chronically Ill. Once we have determined
your eligibility for benefits, we will send you a Request for Benefits form to be completed by you in order to
receive LTC
Benefits.
Step 5: You must submit a Request for Benefits form within 90 days after we have determined that you are eligible for LTC
Benefits.
The Request for Benefits form will be used to pay LTC Benefits for a period of up to three months.

116
<PAGE>

Step 6: You must satisfy the 90 day deductible period before any LTC Benefits will be paid. The 90-day deductible period is
measured from the date you first receive Long-Term Care Services. See the Deductible Period paragraph later in this
section.

Written Assessment. In order to determine whether you have been or will be
receiving Long-Term Care Services due to being Chronically Ill, we require that
a Licensed Health Care Practitioner certify, within the preceding 12 months, in
a written assessment that you are Chronically Ill. You have a Chronic Illness
if you require either: 1) substantial assistance with performing at least two
of six Activities of Daily Living ("ADLs") for at least 90 days or; 2)
substantial supervision to protect you from threats to health and safety due to
severe cognitive impairment. Severe cognitive impairment is deterioration or
loss of intellectual capacity that is:
o Comparable to (and includes) Alzheimer's disease and similar forms of
irreversible dementia; and
o Is measured and confirmed by clinical evidence and standardized tests that
reliably measure impairment in short-term or long-term memory; orientation
as to person (such as who they are), place (such as their location), and
time (such as day, date and year); and deductive or abstract reasoning,
including judgment as it relates to safety awareness.

The written assessment will evaluate your ability to perform ADLs and/or your
cognitive condition. You will be responsible for the cost of obtaining the
initial and any subsequent assessments.

A Licensed Health Care Practitioner is a physician (as defined in Section 1861(r)(1) of
the Social Security Act, as amended); a
registered professional nurse; a licensed social worker; or another professional
individual who meets the requirements prescribed
by the United States Secretary of the Treasury.

The ix Activities of Daily Living are:
1. Bathing - the ability to wash oneself by sponge bath, or in either a tub or shower, including the task of getting into
or out of
the tub or shower.
2. Continence - the ability to maintain control of bowel and bladder function, the ability to perform associated personal
hygiene (including caring of a catheter or colostomy bag).
3. Dressing - the ability to put on or take off all items of clothing and any necessary braces, fasteners or artificial
limbs.
4. Eating - the ability to feed oneself by getting food into the body from a receptacle (such as plate, cup or table) or by
a
feeding tube or intravenously.
5. Toileting - the ability to get to and from the toilet, get on or off the toilet, and perform associated personal
hygiene.
6. Transferring - the ability to move oneself into or out of a bed, chair or wheelchair.

Plan of Care. The Licensed Health Care Practitioner must also complete a Plan
of Care for you, which is a written plan of care that is developed based on the
written assessment that you are Chronically Ill (as described in the preceding
section) and specifies the type, frequency and duration of all Long-Term Care
Services you will need. Long-Term Care Services are maintenance or personal
care services, or any necessary diagnostic, preventive, therapeutic, curing,
treating, mitigating, and rehabilitative service that is required because you
are Chronically Ill and that are provided pursuant to a Plan of Care. The
Long-Term Care Services include, but are not limited to, nursing home care,
hospice care, adult day care, assisted living services, home health care and
rehabilitative services as described in the Long-Term Care Coverage
Endorsement. You will be responsible for the cost of obtaining the required
Plan of Care. In order to receive LTC Benefits under the LTC Rider, you must
follow the Plan of Care.

Exclusions and Limitations. The following are not Long-Term Care Services under
the LTC Rider:
o alcohol and drug treatment, unless the drug addiction is a result of
medication taken in doses prescribed by a physician
o care in a facility operated primarily for the treatment of mental or nervous
disorders, other than qualifying stays or care resulting from a clinical
diagnosis of Alzheimer's Disease or similar forms of irreversible dementia
o treatment arising out of an attempt (while sane or insane) at suicide or an
intentionally self-inflicted injury
o treatment in government facilities, such as the healthcare facilities run by
the Veterans Administration (unless exclusion of coverage is otherwise
prohibited by law)
o services for which benefits are available to you under Medicare or other
governmental program (other than Medicaid), workers compensation laws,
employer liability laws, occupational disease laws or motor vehicle no-fault
laws
o services or care provided to you outside the United States
o all care and support services that are provided by immediate members of your
family, whether paid or unpaid.

Deductible Period. You must satisfy the 90 day deductible period before any LTC
Benefits will be paid. This means, you must wait 90 days after the date that
you start to receive Long-Term Care Services covered under the LTC Rider before
we will start paying LTC Benefits. For example, assume that you enter a nursing
home on March 1 of a particular year after the first contract anniversary, due
to not being able to perform two of the six ADLs. You notify us of your intent
to request LTC Benefits on April 1. On April 8, you receive the claims forms
from us. On May 1, we receive the completed claims forms, including the written
assessment and Plan of

117
<PAGE>

Care. On May 10, we determine that your eligibility to receive LTC Benefits was
March 1 and send you a Request for Benefits form. On May 20, we receive the
completed Request for Benefits form. The deductible period would be 90 days
from March 1 and will end as of May 29. We would start monthly LTC Benefit
payments after May 29.

Requesting LTC Benefits. We will notify you in writing once we have determined
your eligibility for benefits and will send you a Request for Benefits form to
be completed by you in order to receive LTC Benefits. The Request for Benefits
form will be used to pay LTC Benefits for a period of up to three months. You
will need to provide a new Request for Benefits form to continue to receive LTC
Benefits beyond the period requested in the Request for Benefits form. This
form will notify us of the dollar amount of LTC Benefit payments that you are
requesting, where you would like us to pay them, and from whom you are
receiving Long-Term Care Services. If the Request for Benefits form is not
received within 90 days after we have determined that you are eligible for LTC
Benefits, you will no longer be deemed eligible to receive LTC Benefits and the
eligibility determination process will restart. See the Federal Taxation of
this section for a discussion of the limits on the dollar amount of LTC Benefit
payments.

Please Note: The amount you request in LTC Benefits may be more or less that your actual
expenses for Long-Term Care
Services. The LTC Rider is not a reimbursement plan and does not depend on your actual
expenses. However, if you receive
amounts in excess of the IRS limit, those amounts may be taxable unless you have
actually incurred long-term care expenses of
that amount. See General Provisions - Federal Taxation.

Denial of LTC Benefits. We will notify you in writing if we deny any request
for LTC Benefits. We will deny a request for LTC Benefits if we determine that
you are not eligible to receive LTC Benefits as set forth in the preceding
sections or if you have not fulfilled any of the requirements in order for us
to determine your eligibility or process your request. You may request a review
of our decision. A request for a review of a denial of a request for LTC
Benefits must be in writing and must include any information that may support
your request or eligibility status. The request for a review of a denial of a
request for LTC Benefits must be submitted to us generally within 3 years
(although this period may vary by the state in which the LTC Rider is issued)
after the time the request for LTC Benefits was filed. We will review your
request for a review and provide a written decision, generally within 60 days
after receiving it (although this period may vary because of a different
requirement imposed by the state in which the LTC Rider is issued). There is no
further review after we provide you with our written decision. If we determine
that a request for LTC Benefits should have been granted we will pay you the
LTC Benefits you should have received.

Establishing Continued Eligibility for LTC Benefits

Once you qualify and begin to receive LTC Benefit payments, you must take
certain steps to continue to receive LTC Benefits. If you fail to take these
steps, your LTC Benefits will stop, and you will have to reestablish your
eligibility to restart LTC Benefit payments. You must take the following steps
to continue receiving LTC Benefit payments:

Every Three Months: You must submit a new Request for Benefits form, which must be received by us no earlier than 30 days
prior
to the end of the current three-month period for which you are receiving LTC Benefits. We will provide
you
with a new Request for Benefits form prior to the end of the current three-month period. If a new Request
for
Benefits form is not submitted prior to the end of the current three-month period for which you are
receiving
LTC Benefits, we will automatically pay the LTC Benefit that you are receiving for an additional month.
If you
do not want to receive this payment you must contact us either by phone or in writing at the address or
phone number provided above. LTC Benefits paid during that month will be equal to the amount of the most
recent LTC Benefit payment paid to you. If we do not receive a Request for Benefits form within 90 days
after
the three-month period for which LTC Benefits were previously requested, you will have to reestablish
your
eligibility to receive benefits. Request for Benefits form are always available by contacting us at
800-487-
1485.
Every Year: At least once every 12 months after we have established your initial benefit eligibility, a Licensed
Health Care
Practitioner must (1) complete a new assessment on a form provided by us and again certify that you are
Chronically Ill, and that you are expected to remain Chronically Ill for at least 90 days, and (2) either
prescribe
a new Plan of Care, or reconfirm the existing Plan of Care. We will provide you with a new assessment
form
prior to the end of the current twelve-month period. The appropriate forms are always available by
contacting
us at 800-487-1485.

Revocation of Eligibility for LTC Benefits. We will notify you in writing if we
revoke your eligibility for LTC Benefits. You may request a review of our
decision. We may revoke your eligibility if we determine that you are no longer
eligible to receive LTC Benefits or should not have been found eligible to
receive LTC Benefits. We may also revoke your eligibility for failure to follow
any of the procedures as discussed above. A revocation of eligibility does not
mean that you may be found eligible in the future. A request for a review of a
revocation of eligibility must be in writing and must include any information
that may support your request or eligibility status. The request for a review
of a revocation of eligibility must be submitted to us generally within 3 years
(although this period may vary because of a different requirement imposed by
the state in which the LTC Rider is issued) after the time the last Request for
Benefits form was filed. We will review your request for a review and provide a
written decision within 60 days after receiving it. There is no

118
<PAGE>

further review after we provide you with our written decision. If we determine
that we should not have revoked your eligibility we will pay you the LTC
Benefits you should have received.

Verification of Continued Eligibility

At any time and as often as we reasonably require, we reserve the right to
verify that all of the conditions for initial and ongoing eligibility are
satisfied. Verification of your continued eligibility may include any or all of
the following:
o review of medical facts (including, but not limited to, medical files or
diagnostic test results) to determine the extent of any Chronic Illness;
o a physical examination at our expense by a physician of our choosing to
determine that all of the criteria for eligibility are met;
o requiring proof that you have received the prescribed care or support
services.

If the Company is unable to verify that you are receiving Long-Term Care
Services as set forth in the Plan of Care or that you are Chronically Ill, the
Company will revoke your eligibility to receive LTC Benefits and reject any
pending or subsequent request for benefits, and take action pursuant to the
overpayment provision described below. Any subsequent determination of benefit
eligibility will be treated as the initial determination of eligibility.

Overpayment of LTC Benefits

If you no longer meet the eligibility criteria or no longer wish to receive LTC
Benefit payments, you will need to notify us by contacting us either by phone
or in writing at the address or phone number provided above. Failure to notify
us that you no longer meet the eligibility criteria may result in an
overpayment. In the event we make an overpayment to you, we will notify you and
request repayment. An overpayment could be made under an existing Request for
Benefits after a Covered Life is no longer eligible to receive benefits or as a
result of an administrative error in processing a request for benefits. If you
receive an overpayment, it is your responsibility to return the amount of the
overpayment within 60 days of our request. If you do not return the overpayment
within 60 days of our request, we will deduct the amount of the overpayment
from your future LTC Benefits, if any, or otherwise from any withdrawals, cash
surrender, or Death Benefit proceeds.

Determining LTC Benefits

General Summary of LTC Benefits

Before delving into a more detailed discussion, we want to provide you with an
overview of the basic choices you have relating to the LTC Rider, as well as a
brief roadmap of the general concepts that impact your LTC Benefits.

Choices Under the LTC Rider. The amount of LTC Benefits that you may receive
under the LTC Rider is dependent upon several choices that you make.
o You will decide how much money to invest in the contract in order to fund the
LTC Rider. The amount of the initial Gross Purchase Payment and of any
subsequent Purchase Payments made in the first 90 days after the contract
date will determine the amount of Acceleration Benefits and Extension
Benefits you may receive.
o You will also choose whether you would like the opportunity to grow the LTC
Benefits by choosing, for a higher charge, the Growth Benefit option.
o You will choose whether to purchase for an additional cost the Optional
Nonforfeiture Benefit option which provides an LTC Benefit if you terminate
the LTC Rider under certain circumstances after the third contract
anniversary.
o Once you are eligible to receive LTC Benefits, you will decide when and in
what amounts up to certain limits you would like to receive monthly LTC
Benefit payments. As long as you have met the conditions described earlier
in this discussion (Eligibility for LTC Benefits), you may use the LTC
Benefit payments for any purpose and may receive more than your actual
expenses for LTC Services.

Roadmap of Important LTC Concepts. There are certain important features of the
LTC Rider you need to understand. The following section summarizes these
features.

As described above, there are two primary LTC Benefits: the Acceleration
Benefit and the Extension Benefit. There is also an additional optional LTC
Benefit - the Growth Benefit - that is available for an additional charge. The
Acceleration and Growth Benefits are calculated based on the LTC Guaranteed
Amount. The Extension Benefit at issue of the LTC Rider is calculated based on
the initial Acceleration Benefit and will be double the dollar amount of the
Acceleration Benefit. The LTC Guaranteed Amount is also important as it affects
the charges you pay for the LTC Rider. See "LTC Charges" for additional
information. The LTC Guaranteed Amount is equal to the Acceleration Benefit
plus the Growth Benefit, if elected. However, you should understand that the
LTC Guaranteed Amount is not available to you as a lump sum withdrawal or as a
Death Benefit. See the discussion following this chart for a more detailed
discussion of each LTC Benefit.

Acceleration Benefit

o First payments made under the LTC Rider

119
<PAGE>

Acceleration Benefit

o Deducted from your Contract Value
o Equals your initial Gross Purchase Payment and any subsequent Gross Purchase Payments made in the first 90 days
o Paid monthly up to a monthly maximum amount (referred to as Maximum Monthly Level Benefit which is described in the
Determining LTC Benefits-Maximum Monthly Level Benefit section)
o Payments reduce the LTC Guaranteed Amount and Acceleration Benefit
o If the Contract Value is reduced to zero, benefits are paid by us from our general account
o Not affected by investment results

Extension Benefit

o Second payments made under the LTC Rider once Acceleration Benefit is reduced to zero
o Paid by us from our general account
o Equals double the Acceleration Benefit as of the 90th day after the contract date
o Paid monthly up to a monthly maximum amount (referred to as Maximum Monthly Level Benefit which is described in the
Determining LTC Benefits-Maximum Monthly Level Benefit section)
o Payments reduce the Extension Benefit
o Not affected by investment results

Growth Benefit

o May be purchased for an additional cost
o Increases the LTC Guaranteed Amount annually by the amount of investment gain, if any, in the Subaccounts and any fixed
account
o Payments made in addition to Acceleration Benefit and Extension Benefit payments
o Deducted from your Contract Value
o Paid monthly up to a monthly maximum amount that is different from the monthly maximum amounts applicable to the
Acceleration Benefit and Extension Benefit and that may increase but will never decrease based upon investment performance
o Payments reduce the LTC Guaranteed Amount and Growth Benefit
o If the Contract Value is reduced to zero, LTC benefits are paid by us from our general account
o Each annual step-up is not affected by subsequent investment results

Wit drawals
o Permitted any time in addition to LTC Benefit payments
o Will not decrease LTC Benefits (but will reduce Contract Value) to the extent annual withdrawals are less than or equal to
5% of
the excess amount, if any, of the Contract Value over the LTC Guaranteed Amount as of the immediately preceding contract
anniversary
o The amount of any withdrawal that exceeds 5% of the excess amount of the Contract Value over the LTC Guaranteed Amount
will be an Excess Withdrawal (i.e., if the LTC Guaranteed Amount is greater than or equal to the Contract Value on any
contract
anniversary, any withdrawal will be an Excess Withdrawal)
o If the Growth Benefit has been elected, ANY withdrawal is an Excess Withdrawal
o Excess Withdrawals result in proportional reductions to all LTC Benefits by the same percentage that the Excess Withdrawal
reduces the Contract Value
o Thus, if you purchase the Growth Benefit option, any withdrawal will be an Excess Withdrawal (unless you are age 76 or the
maximum LTC Guaranteed Amount limit of $800,000 has been reached, and your Contract Value on the immediately preceding
contract anniversary exceeds the LTC Guaranteed Amount)

Now that we have discussed the general important features that impact your LTC
Benefits, we can engage in a more detailed discussion of how exactly these LTC
Benefits are calculated.

120
<PAGE>

Acceleration Benefit Payments

Once you become eligible to receive LTC Benefits and we make a determination of
your eligibility, we will move your Contract Value to the extent of the LTC
Guaranteed Amount to our LTC Fixed Account. Amounts allocated to the LTC Fixed
Account will no longer have the ability to participate in market performance.
See LTC Fixed Account for more information. We then pay you the Acceleration
Benefit as monthly Acceleration Benefit payments during the Acceleration
Benefit Duration. Each payment will be the amount you request up to the Maximum
Monthly Level Benefit amount. See Determining LTC Benefits - Maximum Monthly
Level Benefit below for a detailed description. The Acceleration Benefit is
first paid from the Contract Value.

Acceleration Benefit Duration = the period of time over which Acceleration Benefits are
paid. If you have not received LTC Benefits
prior to the fifth contract anniversary, the minimum Acceleration Benefit Duration will
be 24 months (i.e., 2 years).

Acceleration Benefit = the initial Purchase Payment, plus each subsequent Purchase
Payment made within the first 90 days after
the contract date, less Excess Withdrawals (adjusted as described in this discussion),
less Acceleration Benefit payments. If you
have not elected the Growth Benefit, the LTC Guaranteed Amount equals the Acceleration
Benefit.

Excess Withdrawals will reduce the LTC Guaranteed Amount and Acceleration Benefit by the
same percentage that the Excess
Withdrawal reduces the Contract Value.

We promise that if your Contract Value is reduced to zero due to investment
losses and there is a remaining amount of Acceleration Benefit, the remaining
Acceleration Benefit payments will be paid from our assets and investments we
hold in our general account, subject to the conditions discussed in this
prospectus. Because we transfer Contract Value equal to the LTC Guaranteed
Amount (or all Contract Value, if less) to the LTC Fixed Account (which is part
of our general account) once you begin receiving payments, all Acceleration
Benefit payments are subject to the claims of our general creditors and the
claims-paying ability of Lincoln Life. The Acceleration Benefit is not
available as a lump sum withdrawal or as a Death Benefit.

Acceleration Benefit payments reduce the Acceleration Benefit, LTC Guaranteed
Amount and Contract Value. Excess Withdrawals will reduce the Acceleration
Benefit and LTC Guaranteed Amount by the same proportion that the Excess
Withdrawal reduces your Contract Value. See Withdrawals for more information on
Excess Withdrawals.

Once the Acceleration Benefit is reduced to zero, the Extension Benefit
Duration will begin. In the last month that you receive an Acceleration Benefit
payment, if the remaining amount of Acceleration Benefit is less than the
Maximum Monthly Level Benefit amount, the payment that you receive will include
the remaining Acceleration Benefit plus an amount of Extension Benefit to make
the payment equal to the amount you have requested. The following month the LTC
Benefit will be paid from the Extension Benefit.

Extension Benefit Payments

Once the Acceleration Benefit is reduced to zero and you are still requesting
and otherwise eligible to receive LTC Benefit payments, we will start to pay
you the Extension Benefit as monthly Extension Benefit payments. Extension
Benefit payments are paid up to the Maximum Monthly Level Benefit amount. See
"Determining LTC Benefits - Maximum Monthly Level Benefit" below for more
details. The Extension Benefit is an obligation of Lincoln Life subject to the
claims-paying ability of Lincoln Life and is supported by the general account,
not by your Contract Value. We promise to pay the Extension Benefit during the
Extension Benefit Duration subject to the conditions discussed in this
prospectus. The Extension Benefit is not available as a lump sum withdrawal or
as a Death Benefit.

Extension Benefit Duration = the period of time over which Extension Benefits are paid.
The Extension Benefit Duration is initially
twice the length of the Acceleration Benefit Duration. If you have not received LTC
Benefits prior to the fifth contract anniversary,
the minimum Extension Benefit Duration will be 48 months (i.e., 4 years).

Extension Benefit = twice the initial Acceleration Benefit (GrossPurchase Payments
within the first 90 days after the contract date),
less Excess Withdrawals (adjusted as described in this discussion), less Extension
Benefit payments.

Excess Withdrawals will reduce the LTC Guaranteed Amount and Extension Benefit by the
same percentage that the Excess
Withdrawal reduces the Contract Value.

Example: The following example shows the calculation of the LTC Guaranteed Amount, the
Acceleration Benefit and the Extension
Benefit as of the contract date, and the recalculation of those amounts after a subsequent
Gross Purchase Payment is made prior
to the 90th day after the contract date.
Initial Gross Purchase Payment January 1 (contract date equals January $100,000
1):

121
<PAGE>

Contract Value January 1:
LTC Guaranteed Amount January 1 (equals initial Gross Purchase Payment):
Acceleration Benefit January 1 (equals LTC Guaranteed Amount):
Extension Benefit January 1 (2 x $100,000 Acceleration Benefit):
Contract Value February 1 prior to subsequent Gross Purchase Payment:
Subsequent Purchase Payment received February 1:
LTC Guaranteed Amount after subsequent Purchase Payment

($100,000 LTC Guaranteed Amount + $100,000
subsequent Gross Purchase Payment made within 90
days of
contract date):
Acceleration Benefit after subsequent Gross Purchase Payment:
Extension Benefit after subsequent Gross Purchase Payment

(2 x $200,000 Acceleration Benefit):
Contract Value after additional Gross Purchase Payment:

Contract Value January 1: $100,000
LTC Guaranteed Amount January 1 (equals initial Gross Purchase Payment): $100,000
Acceleration Benefit January 1 (equals LTC Guaranteed Amount): $100,000
Extension Benefit January 1 (2 x $100,000 Acceleration Benefit): $200,000
Contract Value February 1 prior to subsequent Gross Purchase Payment: $110,000
Subsequent Purchase Payment received February 1: $100,000
LTC Guaranteed Amount after subsequent Purchase Payment
$200,000
Acceleration Benefit after subsequent Gross Purchase Payment: $200,000
Extension Benefit after subsequent Gross Purchase Payment
$400,000
Contract Value after additional Gross Purchase Payment: $210,000

Maximum Monthly Level Benefit

The Maximum Monthly Level Benefit is the monthly limit for Acceleration and
Extension Benefits that may be paid to you under the LTC Rider. The Maximum
Monthly Level Benefit is calculated on the contract date and each contract
anniversary up to, and including, the fifth contract anniversary. Because the
maximum monthly amount is based upon the number of months over which the
Acceleration Benefits are paid, the maximum monthly amount is lowest on the
first contract anniversary and is recalculated and increases every year you
wait to request LTC Benefits up to fifth contract anniversary. If you receive
LTC Benefit payments prior to the fifth contract anniversary, the maximum
monthly amount will be lower than if you wait until after five years after the
contract date. We promise that the total amount of LTC Benefits available will
be the same, but will be paid out over a longer time period (as long as you are
alive) and at a lower monthly maximum amount.

Maximum Monthly Level Benefit = the remaining Acceleration Benefit divided by the number
of months of remaining Acceleration
Benefit Duration. For example, if the Acceleration Benefit is $200,000 and the
Acceleration Benefit Duration as of the fifth contract
anniversary was 24 months, the Maximum Monthly Level Benefit would be $8,333.33
($200,000/24).

Excess Withdrawals will reduce the Maximum Monthly Level Benefit amount by the
same percentage the Excess Withdrawal reduces the Contract Value. See
Withdrawals. All other withdrawals and LTC Benefit payments will not change the
Maximum Monthly Level Benefit amount. The Maximum Monthly Level Benefit amount
does not include Growth Benefits.

IMPORTANT NOTE:

We designed the LTC Rider to function most optimally if you do not start receiving LTC
Benefits until on or after the fifth contract
anniversary. After the fifth contract anniversary, you can maximize your monthly LTC
Benefit payments and receive those
payments over the shortest period of time (which means you will have a shorter period of
time to access the money we pay from
our general account during the Extension Benefit period). This discussion assumes that
you do not begin taking LTC Benefit
payments until after the fifth contract anniversary. However, because we wanted to
provide you with the flexibility to begin
taking LTC Benefit payments prior to the fifth contract anniversary if the need arises,
we will highlight the impact of taking LTC
Benefit payments earlier in a later section. See "Determining LTC Benefits - Electing to
Receive LTC Benefits Before the Fifth
Contract Anniversary."

Whether you can request all of the Maximum Monthly Level Benefit (after the
required waiting period and fulfilling all other applicable requirements to
receive LTC Benefits) will depend on whether you are residing in a "nursing
home" or are receiving "hospice care" (which may be received in your home or in
a hospice care facility). Both of these terms, and other qualified Long-Term
Care services, are defined in the Long-Term Care Coverage Endorsement form; the
actual terms and definitions may vary because of requirements imposed by the
particular state in which the LTC Benefit was issued. The following chart shows
the amount you may request in LTC Benefits.

122
<PAGE>

Type of Long-Term Care Services Amount of Monthly Benefit You Can Request

If you are residing in a nursing home or are receiving hospice care: You may request an amount up to the Maximum Monthly
Level
Benefit amount. Contractowners with contracts issued in
certain
states not listed below may also request up to the
Maximum
Monthly Level Benefit amount if they are in an assisted
living
facility.
If you are eligible and qualify for other qualified Long-Term Care You may request only up to 50% of the Maximum Monthly
Level
Services (such as but not limited to home health care, adult day Benefit amount*. If upon commencement of a month you
qualify to
care, assisted living services), but are not residing in a nursing receive up to 50% of the Maximum Monthly Level Benefit
amount
home or receiving hospice care: and during that month you enter a nursing home or start
to receive
hospice care, you will qualify to receive up to 100% of
the
Maximum Monthly Level Benefit amount the following
month.

* Contractowners whose contracts were issued in the following states may
only request up to 50% of the Maximum Monthly Level Benefit amount for
assisted living services: AK, AL, AR, AZ, DC, DE, GA, IA, KY, LA, MD, ME,
MI, MO, MS, MT, NC, ND, NE, NM, OK, OR, RI, SC, SD, WV, WY.
Contractowners in all other states may request up to 100% of the Maximum
Monthly Level Benefit amount for assisted living services.

The Maximum Monthly Level Benefit amount will not change after the fifth
contract anniversary unless you make an Excess Withdrawal (as described below).
If, after the fifth contract anniversary, you receive less than the Maximum
Monthly Level Benefit amount in any given month, the Maximum Monthly Level
Benefit amount will not be increased, but the minimum Acceleration Benefit
Duration or minimum Extension Benefit Duration will be increased and will equal
the remaining Acceleration Benefit or Extension Benefit divided by the Maximum
Monthly Level Benefit amount.

Example: The following is an example of how taking less than the Maximum Monthly Level
Benefit impacts future
Maximum
Monthly Level Benefit amounts and extends the Acceleration Benefit Duration and
Extension Benefit Duration. This example
also
illustrates how the Maximum Monthly Level Benefit does not change after the fifth
Contract Year. Assume LTC Benefit
payments
begin after the fifth contract anniversary and the owner receives 50% of the Maximum
Monthly Level Benefit each
month.
On fifth contract anniversary:
Acceleration Benefit:
Acceleration Benefit Duration:
Extension Benefit:
Extension Benefit Duration:
Maximum Monthly Level Benefit ($100,000/24):
Monthly LTC Benefit payment (50% of $4,166.67):
On the sixth contract anniversary:
Remaining Acceleration Benefit:

($100,000 - LTC Benefit payments of
$25,000 ($2,083.33 x 12))
Remaining Acceleration Benefit Duration

(assuming the Contractowner
continues to receive 50% of the
Maximum Monthly Level Benefit):
($75,000 /
$2,083.33)
Remaining Acceleration Benefit Duration

(if the Contractowner begins
receiving 100% of the Maximum
Monthly Level Benefit): ($75,000 /
$4,166.67)
Remaining Extension Benefit:
Remaining Extension Benefit Duration

(assuming the Contractowner
continues to receive 50% of the
Maximum Monthly Level Benefit each
year):
($200,000 / $2,083.33)
Remaining Acceleration Benefit Duration

(if the Contractowner begins
receiving 100% of the Maximum
Monthly Level Benefit): ($200,000 /
$4,166.67)

Example: The following is an example of how taking less than the Maximum Monthly Level Benefit impacts
future Maximum
Monthly Level Benefit amounts and extends the Acceleration Benefit Duration and Extension Benefit
Duration. This example also
illustrates how the Maximum Monthly Level Benefit does not change after the fifth Contract Year. Assume
LTC Benefit payments
begin after the fifth contract anniversary and the owner receives 50% of the Maximum Monthly Level
Benefit each month.
On fifth contract anniversary:
Acceleration Benefit: $ 100,000
Acceleration Benefit Duration: 24 months
Extension Benefit: $ 200,000
Extension Benefit Duration: 48 months
Maximum Monthly Level Benefit ($100,000/24): $4,166.67
Monthly LTC Benefit payment (50% of $4,166.67): $2,083.33
On the sixth contract anniversary:
Remaining Acceleration Benefit:
$ 75,000
Remaining Acceleration Benefit Duration
36 months
Remaining Acceleration Benefit Duration
18 months
Remaining Extension Benefit: $ 200,000
Remaining Extension Benefit Duration
96 months
Remaining Acceleration Benefit Duration
48 months

Special Considerations When Determining the Amount of Benefits to Request: Keep
in mind that you may use the LTC Benefit payments for any purpose and may
request more than your actual expenses for Long-Term Care Services (subject to
the maximums discussed above). When determining the amount of the LTC Benefit
to request, however, there are a number of factors you may want to take into
account.

123
<PAGE>

During the Acceleration Benefit Duration, for example, you may want to consider
the actual cost of your care and the expected length of your care, the chance
that you may not live long enough to receive all the LTC Benefit payments, and
the need for Death Benefit and/or annuity features under your contract. During
the Acceleration Benefit Duration, taking less than the maximum amount of the
Acceleration Benefit to which you are entitled will extend the Acceleration
Benefit Duration (and thus will extend the beginning of the Extension Benefit
Duration, when LTC Benefits are being paid out of our assets). (As discussed
below, not taking Growth Benefit payments will not extend the Acceleration
Benefit Duration.) If the cost of any qualified Long-Term Care Services that
you are receiving is less than the maximum you can request and you anticipate
needing money for Long-Term Care Services for a longer period of time than the
LTC Benefit Duration, then you may want to consider taking less than the
maximum amount. Taking less than the maximum has the advantage of extending
your benefits over a longer time period and/or allowing you to retain your
Death Benefit and annuity options (which are reduced by withdrawals including
LTC Benefit payments and thus will not be reduced as quickly), but has the
disadvantage of there being a greater chance that you may not live long enough
to receive all or as many LTC Benefit payments.

Once you are in the Extension Benefit Duration, when LTC Benefits are being
paid out of our assets, it is almost universally better to take your maximum
permitted amount each month, in case of death prior to all LTC Benefit payments
being made.

In all cases, you should also consider the limits imposed under IRS rules. See
General Provisions - Federal Taxation below.

Growth Benefit Option

At the time you purchase the Rider, you will choose whether to add the Growth
Benefit option. The Growth Benefit option may not be added after the LTC Rider
is issued. The Growth Benefit option may provide an additional amount of LTC
Benefit from investment gains in the Subaccounts and fixed account. The Growth
Benefit is paid as monthly Growth Benefit payments up to the Maximum Monthly
Growth Benefit amount.

Growth Benefit payments may be paid in addition to Acceleration Benefit
payments and Extension Benefit payments and are paid during both the
Acceleration Benefit Duration and the Extension Benefit Duration. Thus, while
your initial Gross Purchase Payment (and any subsequent Gross Purchase Payment
made during the first 90 days up to the applicable maximum limit) is returned
to you over the Acceleration Benefit Duration, your Growth Benefit is spread
over both the Acceleration Benefit Duration and the Extension Benefit Duration.
After the Extension Benefit is reduced to zero and if there is any remaining
LTC Guaranteed Amount, you may continue to receive Growth Benefits, if
otherwise eligible, until the LTC Guaranteed Amount is reduced to zero. At such
point, Growth Benefit payments will no longer be subject to the Maximum Monthly
Growth Benefit limit (i.e., you can request a lump sum of any remaining LTC
Guaranteed Amount).

On each contract anniversary until you reach age 76, the LTC Guaranteed Amount
may increase to an amount equal to the Contract Value, if higher, due to
automatic step-ups, up to the maximum LTC Guaranteed Amount limit of $800,000
(referred to as the automatic step-up). The Growth Benefit is equal to the
difference between the LTC Guaranteed Amount and the Acceleration Benefit, if
any. On the contract date, the Growth Benefit is zero. The Growth Benefit will
be calculated on each contract anniversary or at the time of an Excess
Withdrawal.

Automatic Step-Ups = On each contract anniversary, the LTC Guaranteed Amount will
automatically step up to the Contract
Value
as of the contract anniversary if:
o The Covered Life is still living and
under age 76;
o The Contract Value on that contract
anniversary is greater than the LTC
Guaranteed Amount; and
o The maximum LTC Guaranteed Amount
limit has never been reached.

Excess Withdrawals will reduce the LTC Guaranteed Amount and Growth Benefit by the same
percentage that the Excess
Withdrawal reduces the Contract Value.

Once you begin receiving LTC Benefit payments, we transfer Contract Value to
the LTC Fixed Account (which is part of our general account) equal to the LTC
Guaranteed Amount (or the Contract Value, if less). Each contract anniversary
thereafter, we transfer to the LTC Fixed Account the amount by which the LTC
Guaranteed Amount "stepped up" that year. See LTC Fixed Account for additional
information. Because your Contract Value will be earning fixed interest in the
LTC Fixed Account and will no longer be participating in any investment
performance in the separate account, there is very little likelihood that the
automatic step-ups will continue to increase the LTC Guaranteed Amount while
you are receiving LTC Benefits even though you will still be paying an
increased Acceleration Benefit Charge for the Growth Benefit. Thus if you
purchase the Growth Benefit, you should allow sufficient time before you
anticipate needing LTC Benefits to allow the automatic step-ups to increase the
LTC Guaranteed Amount and should not purchase it if you anticipate needing LTC
Benefit within a short time-frame.

You will pay a higher LTC Charge for the Growth Benefit option than for the
Level Benefit option. In addition, when deciding whether to purchase the Growth
Benefit option, you should consider that under the Growth Benefit option, any
withdrawal will be an Excess Withdrawal. However, if the maximum LTC Guaranteed
Amount limit of $800,000 has been reached or you are age 76 or older, and your
Contract Value exceeds the LTC Guaranteed Amount on a contract anniversary, you
may withdraw an amount up to the Conforming Withdrawal amount. See Withdrawals
for an example of how an Excess Withdrawal reduces the LTC Guaranteed Amount.

124
<PAGE>

Once the maximum LTC Guaranteed Amount limit has been reached or you are age 76
or older, you will not receive any further automatic step-ups of the LTC
Guaranteed Amount (even if it later declines due to Excess Withdrawals or LTC
Benefit payments). Contract Value in excess of the maximum LTC Guaranteed
Amount will not provide any additional Growth Benefit.

(LTC Guaranteed Amount steps up
since $225,000 is greater than LTC
Guaranteed Amount of $200,000)
Growth Benefit on first contract anniversary

($225,000 LTC Guaranteed Amount -
$200,000 Acceleration Benefit):
Total Contract Value on second contract anniversary reflecting investment loss from
previous contract
anniversary
($225,000 LTC Guaranteed Amount does
not change as the Contract Value of
$218,000 is less; $25,000
Growth Benefit does not change):
Total Contract Value on third contract anniversary reflecting investment gain from
previous contract
anniversary:
New LTC Guaranteed Amount on third contract anniversary

(LTC Guaranteed Amount steps up as
$240,000 is greater than LTC
Guaranteed Amount of $225,000):
Growth Benefit on third contract anniversary

($240,000 LTC Guaranteed Amount -
$200,000 Acceleration Benefit):

Example: Following is an example of how the automatic step-ups will work through the first three
contract anniversaries
(assuming no withdrawals).
Total Gross Purchase Payments added to the contract as of 90th day after the contract $200,000
date:
LTC Guaranteed Amount as of 90th day after the contract date equals total Purchase $200,000
Payments made into the
contract:
Acceleration Benefit as of 90th day after the contract date: $200,000
Total Contract Value on first contract anniversary reflecting investment gain: $225,000
New LTC Guaranteed Amount on first contract anniversary:
$225,000
Growth Benefit on first contract anniversary
$ 25,000
Total Contract Value on second contract anniversary reflecting investment loss from
previous contract anniversary
$218,000
Total Contract Value on third contract anniversary reflecting investment gain from $240,000
previous contract anniversary:
New LTC Guaranteed Amount on third contract anniversary
$240,000
Growth Benefit on third contract anniversary
$ 40,000

You may choose to irrevocably terminate the automatic step-ups if you believe
that you have sufficient LTC Benefits to cover your needs and do not want or
need to further increase the LTC Benefits. You may terminate automatic step-ups
after the fifth contract anniversary by notifying us in writing at least 30
days prior to the next contract anniversary. By choosing to terminate the
automatic step-ups, the LTC Guaranteed Amount will no longer step up to the
Contract Value, if higher. You will still pay the higher Acceleration Benefit
Charge associated with the Growth Benefit if you terminate automatic step-ups.
However, the charge will not increase as the LTC Guaranteed Amount (which the
charge is based on) will no longer increase because of step-ups to the Contract
Value. See Charges and Other Deductions - Rider Charges - Long-Term CareSM
Advantage Charge.

Growth Benefit payments reduce the Growth Benefit, the LTC Guaranteed Amount,
and the Contract Value by the dollar amount of the payment. Excess Withdrawals
reduce the Growth Benefit by the same percentage that the Excess Withdrawal
amount reduces the Contract Value. This means that the reduction in the Growth
Benefit could be more than the dollar amount withdrawn. Because we transfer
Contract Value equal to the LTC Guaranteed Amount (or all Contract Value, if
less) to the LTC Fixed Account once you begin receiving payments and each
contract anniversary thereafter, all Growth Benefit payments are subject to
claims of our general creditors and to the claims-paying ability of Lincoln
Life.

Maximum Monthly Growth Benefit

The Maximum Monthly Growth Benefit amount is the maximum amount of Growth
Benefit that may be paid in any calendar month. The Maximum Monthly Growth
Benefit amount is recalculated each contract anniversary and upon an Excess
Withdrawal. The calculation of the Maximum Monthly Growth Benefit amount is
based on payment of the Growth Benefit over both the Acceleration and Extension
Benefit Durations.

Under the formula, we determine how many months of Acceleration and Extension
Benefit payments are remaining by dividing the total remaining Acceleration and
Extension Benefits by the Maximum Monthly Level Benefit amount. Then the Growth
Benefit is divided over this same number of months.

The Maximum Monthly Growth Benefit amount = [i - ((ii + iii) - iv)] where:
(i) equals the Growth Benefit on the contract anniversary;
(ii) equals any remaining Acceleration Benefit on the contract anniversary;
(iii) equals any remaining Extension Benefit on the contract anniversary; and
(iv) equals the Maximum Monthly Level Benefit amount on the contract anniversary.

125
<PAGE>

When you make a request for benefits, you may request an amount up to the
Maximum Monthly LTC Benefit amount. You will receive a single monthly LTC
Benefit payment that will include the Growth Benefit payment, in addition to
either the Acceleration Benefit payment or Extension Benefit payment. We deduct
your request first from the Acceleration Benefit (during the Acceleration
Benefit Duration) or Extension Benefit (during the Extension Benefit Duration)
up to the Maximum Monthly Level Benefit (which is the maximum amount you could
request if you did not have the Growth Benefit option). Any amount requested
above that amount will be deducted from the Growth Benefit up to the Maximum
Monthly LTC Benefit amount. Thus, no Growth Benefit payments will be made
unless you are requesting more than the Maximum Monthly Level Benefit amount
available to you for that month. However, any unused Growth Benefit Payments
can be used once the Maximum Growth Benefit Monthly payment is recalculated.

Maximum Monthly LTC Benefit amount = the Maximum Monthly Level Benefit amount plus the
Maximum Monthly Growth Benefit
amount

Whether you can request all of the Maximum Monthly LTC Benefit will depend on
whether you are residing in a nursing home or receiving hospice care:

Type of Long-Term Care Services Amount of Monthly Benefit You Can Request

If you are residing in a nursing home or are receiving hospice care: You may request an amount up to the Maximum Monthly LTC
Benefit amount. Contractowners with contracts issued in
certain
states not listed below may also request up to the
Maximum
Monthly LTC Benefit amount if they are in an assisted
living facility.
If you are eligible and qualify for other qualified Long-Term Care You may request only up to 50% of the Maximum Monthly
LTC
Services (such as but not limited to home health care, adult day Benefit amount*. If upon commencement of a month you
qualify to
care, assisted living services), but are not residing in a nursing receive up to 50% of the Maximum Monthly LTC Benefit
amount
home or receiving hospice care: and during that month you enter a nursing home or start
to receive
hospice care, you will qualify to receive up to 100% of
the
Maximum Monthly LTC Benefit amount the following month.

*Contractowners whose contracts were issued in the following states may only
request up to 50% of the Maximum Monthly LTC Benefit amount for assisted living
services: AK, AL, AR, AZ, DC, DE, GA, IA, KY, LA, MD, ME, MI, MO, MS, MT, NC,
ND, NE, NM, OK, OR, RI, SC, SD, WV, WY. Contractowners in all other states may
request up to 100% of the Maximum Monthly LTC Benefit amount for assisted
living services.

Example: The following is an example of how the Maximum Monthly Growth Benefit amount,
Maximum Monthly Level
Benefit
amount and the Maximum Monthly LTC Benefit are calculated on the fifth contract
anniversary with growth of the Contract
Value
from investment gains of $20,000 and assuming $100,000 Gross Purchase Payments were made
prior to 90th day after
the
contract date.
Acceleration Benefit on fifth contract anniversary:
Extension Benefit on fifth contract anniversary:
Contract Value on fifth contract anniversary:
LTC Guaranteed Amount on fifth contract anniversary steps-up to Contract Value of
$120,000:
Growth Benefit

($120,000 LTC Guaranteed Amount -
$100,000 Acceleration Benefit):
Maximum Monthly Level Benefit

($100,000 - 24 months of
Acceleration Benefit Duration left):
Maximum Monthly Growth Benefit

[$20,000 Growth Benefit - (($100,000
Acceleration Benefit + $200,000
Extension Benefit) - $4,166.67
Maximum Monthly Level Benefit)]:
Maximum Monthly LTC Benefit ($4,166.67 + $277.78):

Example: The following is an example of how the Maximum Monthly Growth Benefit amount, Maximum Monthly
Level Benefit
amount and the Maximum Monthly LTC Benefit are calculated on the fifth contract anniversary with
growth of the Contract Value
from investment gains of $20,000 and assuming $100,000 Gross Purchase Payments were made prior to 90th
day after the
contract date.
Acceleration Benefit on fifth contract anniversary: $ 100,000
Extension Benefit on fifth contract anniversary: $ 200,000
Contract Value on fifth contract anniversary: $ 120,000
LTC Guaranteed Amount on fifth contract anniversary steps-up to Contract Value of $ 120,000
$120,000:
Growth Benefit
$ 20,000
Maximum Monthly Level Benefit
$4,166.67
Maximum Monthly Growth Benefit
$ 277.78
Maximum Monthly LTC Benefit ($4,166.67 + $277.78): $4,444.45

Special Considerations When Determining the Amount of Benefits to Request: If
you receive less than the Maximum Monthly Growth Benefit amount, the unused
Growth Benefit for that month will not be available for the remainder of that
Contract Year. On the next contract anniversary, the remaining Growth Benefit
for the prior year will carry over and the Growth Benefit and the Maximum
Monthly Growth Benefit amount will be recalculated, and will increase, as
stated above. Taking less than the Maximum Monthly Growth Benefit amount will
not extend the Acceleration Benefit Duration or Extension Benefit Duration.
This calculation is intended to permit you to take your remaining Growth
Benefit over the same period you will receive your remaining Acceleration
Benefit plus your Extension Benefit. Any Growth Benefit remaining at the end of
the Extension Benefit Duration will continue to be available to you as LTC
Benefit payments until exhausted, and will not be subject to a monthly maximum
limit.

126
<PAGE>

Example: Continuing the prior example if, during the first six months of the Contract
Year, you requested that you be paid the
entire Maximum Monthly Growth Benefit each month and then for the other six months you
requested no Growth Benefit, there
will be unused Growth Benefit for that contract year of $1,666.68 ($277.78 Maximum
Monthly Growth Benefit x 6 months). On the
next contract anniversary, the Maximum Monthly Growth Benefit will increase because
there was unused Growth Benefit during
the current Contract Year.

Electing to Receive LTC Benefits Before the Fifth Contract Anniversary

As we previously mentioned, we designed the LTC Rider to function most
optimally if you do not start receiving LTC Benefits until on or after the
fifth contract anniversary. The LTC Rider is designed to provide the highest
amount of monthly LTC Benefits if you wait until after the fifth contract
anniversary to receive LTC Benefit payments, though no matter when you start to
receive LTC Benefit payments, we promise to pay you the same overall amount of
LTC Benefits. The preceding discussion assumed that you do not begin taking LTC
Benefit payments before the fifth contract anniversary. However, you have the
flexibility to begin taking LTC Benefit payments prior to the fifth contract
anniversary if the need arises. This section highlights the impact of taking
LTC Benefit payments earlier.

When you purchase the LTC Rider, the LTC Benefit Duration is equal to 252
months and is comprised of 84 months (i.e., 7 years) of Acceleration Benefit
Duration plus 168 months (i.e., 14 years) of Extension Benefit Duration. If you
have not received LTC Benefits, on each contract anniversary up to the fifth
contract anniversary, we will recalculate the LTC Benefit Duration by
subtracting 12 months from the Acceleration Benefit Duration and 24 months from
the Extension Benefit Duration. This is important because the Acceleration
Benefits and the Extension Benefits are paid monthly up to the Maximum Monthly
Level Benefit amount and the Maximum Monthly Level Benefit amount is calculated
based on the number of months remaining in the Acceleration Benefit Duration or
Extension Benefit Duration.

The following chart illustrates how the LTC Benefit Durations decrease each
year that you wait to receive LTC Benefit payments up to the fifth contract
anniversary. You should refer to this chart and carefully consider the
information contained in the chart in order to determine the minimum
Acceleration Benefit Duration and the minimum Extension Benefit Duration based
on the Contract Year you start to submit requests for LTC Benefits.

LTC Benefit Duration Chart
Contract Year of First Acceleration Extension Total LTC
Request for Maximum Benefit Benefit Benefit
Level Benefit amounts Duration Duration Duration

1* 84 months 168 months 252 months
2 72 months 144 months 216 months
3 60 months 120 months 180 months
4 48 months 96 months 144 months
5 36 months 72 months 108 months
6+ 24 months 48 months 72 months

* You may not receive LTC Benefit payments prior to the first contract
anniversary and satisfaction of the 90-day deductible period.

When a benefit payment less than the Maximum Monthly Level Benefit amount is
made prior to the fifth contract anniversary, we will recalculate your Maximum
Monthly Level Benefit amount and it will increase, but we will not extend the
Acceleration Benefit Duration. Accordingly, if you receive less than the
Maximum Monthly Level Benefit amount in any Contract Year prior to the fifth
contract anniversary, the Maximum Monthly Level Benefit will be recalculated on
the contract anniversary and will increase. In addition, the minimum Extension
Benefit Duration will be recalculated on the contract anniversary and will
decrease due to the higher Maximum Monthly Level Benefit amount. The Extension
Benefit Duration will be recalculated to equal the Extension Benefit divided by
the recalculated Maximum Monthly Level Benefit.

Example: The following chart provides an example of how the Maximum Monthly
Level Benefit (annualized) increases each year that you wait to start receiving
Acceleration Benefit payments up to the fifth contract anniversary. This chart
illustrates a Gross Purchase Payment of $100,000, resulting in an Acceleration
Benefit of $100,000 as of the Contract Year when you start to receive
Acceleration Benefit payments. The example also assumes you have chosen the
Level Benefit option and that the Maximum Monthly Level Benefit amount is taken
each Contract Year starting at the beginning of the Contract Year and that no
withdrawals have been made other than the illustrated LTC Benefit amounts.

127
<PAGE>

Maximum Monthly Level Benefit (annualized)
based on when Acceleration Benefit payments begin
Acceleration
Benefit Acceleration Acceleration Acceleration
payments Benefit payments Benefit payments Benefit payments Benefit payments
LTC Benefit Contract Begin in Begin in Begin in Begin in Begin in
Duration Year Year 2 Year 3 Year 4 Year 5 Year 6

Acceleration Benefit 1*
2 $16,667
3 $16,667 $20,000
4 $16,667 $20,000 $25,000
5 $16,667 $20,000 $25,000 $33,000
6 $16,667 $20,000 $25,000 $33,000 $50,000
7 $16,667 $20,000 $25,000 $33,000 $50,000
Extension Benefits 8 $16,667 $20,000 $25,000 $33,000 $50,000
9 $16,667 $20,000 $25,000 $33,000 $50,000
10 $16,667 $20,000 $25,000 $33,000 $50,000
11 $16,667 $20,000 $25,000 $33,000 $50,000
12 $16,667 $20,000 $25,000 $33,000
13 $16,667 $20,000 $25,000 $33,000
14 $16,667 $20,000 $25,000
15 $16,667 $20,000 $25,000
16 $16,667 $20,000
17 $16,667 $20,000
18 $16,667
19 $16,667

* You may not receive LTC Benefit payments prior to the first contract
anniversary and satisfaction of the 90-day deductible period. For
illustrative purposes, this chart does not include satisfaction of the
deductible period.

($100,000 Acceleration Benefit - 60
months):
Extension Benefit Duration (from LTC Benefit Duration chart):
By electing to start receiving Acceleration Benefit payments in the third Contract Year,
the Maximum Monthly Level
Benefit
(annualized) would be $20,000. If the Maximum Monthly Level Benefit were requested and
paid out each month, the
Acceleration
Benefit Duration would be 60 months (5 years) followed by an Extension Benefit Duration
of 120 months (10 years). The
total
available Acceleration and Extension Benefits would still be $300,000 ($100,000
Acceleration Benefit plus $200,000
Extension
Benefit). If you waited to start receiving the Acceleration Benefit payments on or after
the fifth contract anniversary, the
annual
benefit would have been $50,000 paid out over the minimum Acceleration and Extension
Benefit Durations of 24 and 48
months
respectively.
If you are receiving the Maximum Monthly Level Benefit each month, the Maximum Monthly
Level Benefit will not change
the
following Contract Year. If you receive less than the Maximum Monthly Level Benefit
amount in any Contract Year prior to the
fifth
contract anniversary, the Maximum Monthly Level Benefit will be recalculated on the
contract anniversary and will increase.
In
addition, the minimum Extension Benefit Duration will be recalculated on the contract
anniversary and will decrease due to
the
higher Maximum Monthly Level Benefit amount. The Extension Benefit Duration will be
recalculated to equal the Extension
Benefit
divided by the recalculated Maximum Monthly Level Benefit.

Example: Continuing the example illustrated by the chart, if you started to receive Acceleration Benefit payments during
the third
Contract Year, the Maximum Monthly Level Benefit would be calculated as follows:
LTC Guaranteed Amount as of second contract anniversary: $100,000
Acceleration Benefit (equals LTC Guaranteed Amount): $100,000
Extension Benefit (2 x Acceleration Benefit): $200,000
Acceleration Benefit Duration (from LTC Benefit Duration chart): 60 months
Maximum Monthly Level Benefit
$1,666.67 or $20,000 per year
Extension Benefit Duration (from LTC Benefit Duration chart): 120 months
By electing to start receiving Acceleration Benefit payments in the third Contract Year, the Maximum Monthly Level
Benefit
(annualized) would be $20,000. If the Maximum Monthly Level Benefit were requested and paid out each month, the
Acceleration
Benefit Duration would be 60 months (5 years) followed by an Extension Benefit Duration of 120 months (10 years). The
total
available Acceleration and Extension Benefits would still be $300,000 ($100,000 Acceleration Benefit plus $200,000
Extension
Benefit). If you waited to start receiving the Acceleration Benefit payments on or after the fifth contract anniversary,
the annual
benefit would have been $50,000 paid out over the minimum Acceleration and Extension Benefit Durations of 24 and 48
months
respectively.
If you are receiving the Maximum Monthly Level Benefit each month, the Maximum Monthly Level Benefit will not change the
following Contract Year. If you receive less than the Maximum Monthly Level Benefit amount in any Contract Year prior to
the fifth
contract anniversary, the Maximum Monthly Level Benefit will be recalculated on the contract anniversary and will
increase. In
addition, the minimum Extension Benefit Duration will be recalculated on the contract anniversary and will decrease due
to the
higher Maximum Monthly Level Benefit amount. The Extension Benefit Duration will be recalculated to equal the Extension
Benefit
divided by the recalculated Maximum Monthly Level Benefit.

128
<PAGE>

($100,000 - $10,000 LTC Benefit
payment in prior Contract Year):
Acceleration Benefit (equals the LTC Guaranteed Amount):
Extension Benefit (has not been reduced as no Extension Benefits have been paid):
Acceleration Benefit Duration:
Maximum Monthly Level Benefit

($90,000 Acceleration Benefit - 48
months):
Extension Benefit Duration

($200,000 Extension Benefit - $1,875
Maximum Monthly Level Benefit):
The remaining Acceleration Benefit Duration after the third contract anniversary is 48
months. The new Maximum Monthly
Level
Benefit amount increases to $22,500 (annualized) and the Extension Benefit Duration
decreases to 107 months due to
receiving
less than the Maximum Monthly Level Benefit amount. Only one-half of the Maximum Monthly
Level Benefit amount ($937.50)
will
be available to you if you are not confined to a nursing home or are not receiving
hospice
care.
On the fifth contract anniversary, we will recalculate the Maximum Monthly Level Benefit
amount for the last time and it will
not
change thereafter unless you make an Excess Withdrawal. If after the fifth contract
anniversary, you receive less than
the
Maximum Monthly Level Benefit amount in any given month, the Maximum Monthly Level
Benefit amount will not be
increased;
but the Acceleration Benefit Duration or Extension Benefit Duration will be increased
and will equal the remaining
Acceleration
Benefit or Extension Benefit divided by the Maximum Monthly Level Benefit amount.

Example: Continuing the previous example, the following is an example of how the Maximum Monthly Level Benefit amount and
the minimum Extension Benefit Duration are recalculated on the third contract anniversary where less than the Maximum
Monthly
Level Benefit amount has been requested. The example assumes the Level Benefit option has been chosen. The $100,000 LTC
Guaranteed Amount as of the second contract anniversary has been reduced by Acceleration Benefit payments of only $10,000
(paid in the third Contract Year) of the available annual amount of $20,000.
LTC Guaranteed Amount as of the third contract anniversary
$ 90,000
Acceleration Benefit (equals the LTC Guaranteed Amount): $ 90,000
Extension Benefit (has not been reduced as no Extension Benefits have been paid): $200,000
Acceleration Benefit Duration: 48 months
Maximum Monthly Level Benefit
$1,875.00 or $22,500 per year
Extension Benefit Duration
107 months
The remaining Acceleration Benefit Duration after the third contract anniversary is 48 months. The new Maximum Monthly
Level
Benefit amount increases to $22,500 (annualized) and the Extension Benefit Duration decreases to 107 months due to
receiving
less than the Maximum Monthly Level Benefit amount. Only one-half of the Maximum Monthly Level Benefit amount ($937.50)
will
be available to you if you are not confined to a nursing home or are not receiving hospice care.
On the fifth contract anniversary, we will recalculate the Maximum Monthly Level Benefit amount for the last time and it
will not
change thereafter unless you make an Excess Withdrawal. If after the fifth contract anniversary, you receive less than
the
Maximum Monthly Level Benefit amount in any given month, the Maximum Monthly Level Benefit amount will not be increased;
but the Acceleration Benefit Duration or Extension Benefit Duration will be increased and will equal the remaining
Acceleration
Benefit or Extension Benefit divided by the Maximum Monthly Level Benefit amount.

Withdrawals

You may be able to make withdrawals pursuant to the withdrawal provision of
your contract without a reduction to the LTC Benefits if the LTC Guaranteed
Amount is less than the Contract Value. Under the LTC Rider, withdrawals are
either Conforming Withdrawals or Excess Withdrawals. Conforming Withdrawals
will not have any effect on the LTC Benefits and will reduce the Contract Value
by the amount of the withdrawal. Excess Withdrawals reduce the LTC Benefits by
the same percentage that the Excess Withdrawal reduced the Contract Value.
Excess Withdrawals reduce the Contract Value by the amount of the withdrawal.
The tax consequences of withdrawals are discussed in the Federal Tax Matters
section of this prospectus.

All withdrawals you make, whether or not within the Conforming Withdrawal
amount, will continue to be subject to any other terms and conditions contained
in your contract. See The Contracts-Surrenders and Withdrawals.

Conforming Withdrawals

If available, you may make periodic withdrawals from your Contract Value in
amounts less than or equal to the Conforming Withdrawal amount each Contract
Year without reducing the LTC Benefits. Conforming Withdrawals may be withdrawn
in addition to receiving LTC Benefit payments . Conforming Withdrawals will not
reduce the LTC Guaranteed Amount, the Acceleration Benefit, the Extension
Benefit, and if elected, the Growth Benefit. If the LTC Guaranteed Amount is
equal to or greater than your Contract Value on a contract anniversary, any
withdrawal in that Contract Year will not be a Conforming Withdrawal. Moreover,
if you elect the Growth Benefit option, any withdrawal will be deemed an Excess
Withdrawal unless you are age 76 or older or the maximum LTC Guaranteed Amount
limit of $800,000 has been reached and your Contract Value exceeds the maximum
LTC Guaranteed Amount on a contract anniversary, in which case you may withdraw
an amount up to the Conforming Withdrawal amount for that Contract Year.

Conforming Withdrawal = any withdrawal that does not exceed during a contract year the greater of $0 and (a) minus (b)
where:
(a) equals 5% of the difference of the Contract Value over the LTC Guaranteed Amount as of the most recent contract
anniversary (or, prior to the first contract anniversary, the contract date); and
(b) equals all prior withdrawals in that Contract Year.

Excess Withdrawals

Excess Withdrawals are the cumulative amounts withdrawn from the contract
during the Contract Year that exceeds the Conforming Withdrawal amount. Only
that portion of the current withdrawal amount that exceeds the Conforming
Withdrawal amount will be

129
<PAGE>

deemed to be an Excess Withdrawal. Any Excess Withdrawal that reduces the
Contract Value to zero will terminate the LTC Rider and the only LTC Benefit
that you may be eligible to receive will be the Optional Nonforfeiture Benefit,
if elected.

More specifically, Excess Withdrawals reduce various benefits in accordance with the
following
formula:
o Multiply the benefit being affected
(i.e., the Acceleration Benefit)
before the Excess Withdrawal by (1 -
the Reduction
Percentage due to Excess
Withdrawal).
o The Reduction Percentage due to
Excess Withdrawal = Excess
Withdrawal - Contract Value before
the Excess Withdrawal.
Importantly, this means that the reduction could be more than the dollar amount
withdrawn.

Excess Withdrawals will reduce the LTC Guaranteed Amount, Acceleration Benefit,
Extension Benefit, Maximum Monthly Level Benefit and any Growth Benefit and
Maximum Monthly Growth Benefit by the same percentage that the Excess
Withdrawal reduces the Contract Value. This means that the reductions in these
amounts could be more than the dollar amount withdrawn. In a declining market,
Excess Withdrawals may substantially reduce or eliminate the LTC Benefits, the
Maximum Monthly Level Benefit, and if elected, Maximum Monthly Growth Benefit.

[$4,000 Excess Withdrawal - $85,000
Contract Value]:
LTC Guaranteed Amount after Excess Withdrawal

[$320,000 LTC Guaranteed Amount x
(1-4.71%)]:
Extension Benefit after Excess Withdrawal

[$240,000 x (1-4.71%)]:
Maximum Monthly Level Benefit after Excess Withdrawal

[$5,000 Maximum Monthly Level
Benefit x (1-4.71%)]:
Growth Benefit after Excess Withdrawal [$200,000 Growth Benefit x (1-4.71%)]:
Maximum Monthly Growth Benefit after Excess Withdrawal

[$2,778 Maximum Monthly Growth
Benefit x (1-4.71%)]:

Example: The following example shows how an Excess Withdrawal, in a declining market, reduces the
Acceleration Benefit, LTC
Guaranteed Amount, Maximum Monthly Level Benefit, Extension Benefit, Maximum Monthly Growth Benefit
and Growth Benefit.
The example assumes you have chosen the Growth Benefit option. Since the LTC Guaranteed Amount is
greater than the Contract
Value, any withdrawal is an Excess Withdrawal and there is no Conforming Withdrawal amount.
LTC Guaranteed Amount: $320,000
Acceleration Benefit: $120,000
Extension Benefit: $240,000
Maximum Monthly Level Benefit: $ 5,000
Growth Benefit: $200,000
Maximum Monthly Growth Benefit: $ 2,778
Excess Withdrawal from Contract Value: $ 4,000
Contract Value immediately prior to Excess Withdrawal: $ 85,000
Reduction Percentage due to Excess Withdrawal
4.71%
LTC Guaranteed Amount after Excess Withdrawal
$304,928
Extension Benefit after Excess Withdrawal
$228,696
Maximum Monthly Level Benefit after Excess Withdrawal
$ 4,765
Growth Benefit after Excess Withdrawal [$200,000 Growth Benefit x (1-4.71%)]: $190,580
Maximum Monthly Growth Benefit after Excess Withdrawal
$ 2,647

LTC Fixed Account

The LTC Fixed Account is part of the general account, and thus is not insulated
from the claims of our general creditors. The LTC Fixed Account is designated
to hold an amount equal to the LTC Guaranteed Amount while paying LTC Benefits.
The LTC Fixed Account will offer a rate of interest that will be adjusted
periodically and is guaranteed to be an effective rate of not less than the
minimum guaranteed interest rate stated in your contract on amounts held in the
LTC Fixed Account. Contracts issued in certain states may guarantee a higher
minimum rate of interest than in other states. Refer to your contract for the
specific guaranteed minimum interest rate applicable to your contract. See
Fixed Side of the Contract for more information about the general account.

On the date we make the initial determination that you are eligible to receive
LTC Benefits (as described in the "Establishing Benefit Eligibility" section),
we will transfer Contract Value equal to the LTC Guaranteed Amount (or all
Contract Value, if less) as of that date to the LTC Fixed Account. Amounts
transferred to the LTC Fixed Account will no longer have the ability to
participate in the performance of the variable Subaccounts. The Contract Value
will be transferred proportionately from the variable Subaccounts and the fixed
account for use with dollar-cost averaging, if any, in which you are invested.
Transfers of Contract Value to the LTC Fixed Account may reduce the Contract
Value in the Subaccounts to zero. Acceleration Benefit payments and Growth
Benefit payments (if elected) will first be deducted from the LTC Fixed
Account. LTC Charges will be deducted proportionally from the LTC Fixed
Account, the fixed account for use with dollar-cost averaging and the
Subaccounts.

130
<PAGE>

On the contract anniversary that follows the initial determination of
eligibility to receive LTC Benefits and on each contract anniversary that
follows, we will transfer Contract Value to and from the LTC Fixed Account, the
Subaccounts and any other fixed account. The amount of Contract Value that will
be transferred into the LTC Fixed Account will be equal to the difference, if
any, between the LTC Guaranteed Amount and the Contract Value that is in the
LTC Fixed Account. This may result in the entire Contract Value being allocated
to the LTC Fixed Account. If the Contract Value in the LTC Fixed Account
exceeds the LTC Guaranteed Amount, we will move Contract Value equal to the
difference between the Contract Value and the LTC Guaranteed Amount from the
LTC Fixed Account to the Subaccounts according to your instructions for future
allocations.

If you begin receiving LTC Benefits and then stop receiving LTC Benefits for
twelve consecutive months, we will allow you to transfer in installments the
Contract Value in the LTC Fixed Account back to the Subaccounts. This transfer
will be made under a twelve-month dollar-cost averaging service. See The
Contracts - Additional Services for more details on dollar-cost averaging. If,
after you stop receiving LTC Benefits and then at a later date recommence
receiving benefits, sufficient Contract Value will be transferred back to the
LTC Fixed Account so that the balance in the LTC Fixed Account equals the LTC
Guaranteed Amount.

Termination

Termination Events

The LTC Rider will terminate under any of the following circumstances:
o termination of the contract;
o upon written request to terminate the LTC Rider after the third contract
anniversary (you may not request to terminate the LTC Rider prior to the
third contract anniversary);
o you elect to receive Annuity Payouts under any of the Annuity Payout options
available under the contract, including but not limited to electing i4LIFE
(Reg. TM) Advantage (with or without the Guaranteed Income Benefit);
o on the date the Contractowner is changed due to death or divorce;
o upon the death of the Covered Life;
o 45 days after the contract date if a signed duplicate copy of the contract
amendment issued with the LTC Rider is not returned to Lincoln Life;
o an Excess Withdrawal reduces the Contract Value to zero;
o all LTC Benefits are reduced to zero;
o you terminate the LTC Rider under either Nonforfeiture Benefit provision;
o within the first six months following the contract date we determine that you
made a misrepresentation in the application or contract amendment that was
material to the issuance of the rider we may void or terminate the rider;
o after the first six months but prior to the end of the first 24 months after
the contract date we determine that you made a misrepresentation that was
material to both the issuance of the rider and a claim for LTC Benefits we
may void or terminate the rider; or
o after 24 months from the contract date if we determine that you knowingly or
intentionally misrepresented relevant facts relating to your health the LTC
Rider may be voided or terminated by us.

Upon termination of the LTC Rider, the LTC Benefits (except benefits provided
under either Nonforfeiture Benefit provision) and LTC Charge will terminate and
a proportional amount of the LTC Charge will be deducted. Contract Value in the
LTC Fixed Account will be transferred to the Subaccounts according to your
future Subaccount allocation instructions. The termination will not result in
any increase to the Contract Value to equal the LTC Guaranteed Amount.

Nonforfeiture Benefit

The LTC Rider provides a nonforfeiture benefit ("Nonforfeiture Benefit") if you
terminate the LTC Rider in certain circumstances (described below). The
Nonforfeiture Benefit provides a reduced long-term care insurance benefit.
o There is a Nonforfeiture Benefit called the Contingent Nonforfeiture Benefit,
provided without charge that pays a reduced long-term care insurance benefit
if you terminate the LTC Rider due to a specified increase of the charge for
the Extension Benefit and/or the Optional Nonforfeiture Benefit.
o You may also choose to add an enhanced Nonforfeiture Benefit, called the
Optional Nonforfeiture Benefit, for an additional charge, that pays a
reduced long-term care insurance benefit. It is "enhanced" because you may
terminate the LTC Rider for any reason after three years, rather than just
if there is a specified increase of the charge for the Extension Benefit
and/or the Optional Nonforfeiture Benefit.

Once either Nonforfeiture Benefit is in effect, the LTC Charges will terminate.
You should be aware that the Nonforfeiture Benefit provision provides only a
limited amount of LTC Benefits. Moreover, the LTC Benefits provided by the
Contingent Nonforfeiture Benefit and the Optional Nonforfeiture Benefit are
equivalent; (this amount is hereinafter referred to as the "Nonforfeiture
Benefit Amount") the important difference between the two are the conditions
under which they will be paid. These conditions are described below. The
Nonforfeiture Benefit Amount is the greater of:
o one month's Maximum Monthly Level Benefit in effect on the date that the LTC
Rider is terminated; or

131
<PAGE>

o an amount equal to the sum of all Extension Benefit Charges and Optional
Nonforfeiture Benefit Charges paid for the LTC Rider minus any Extension
Benefits paid prior to the date the LTC Rider is terminated.

In the state of California, the Nonforfeiture Benefit amount is the greater of:
o the Maximum Monthly Level Benefit in effect on the date the Contractowner
fully surrendered or annuitized the contract, multiplied by either;
o 1, if the contract is fully surrendered or annuitized prior to the tenth
rider date anniversary; or
o 2, if the contract is fully surrendered or annuitized on or after the
tenth rider date anniversary.
o an amount equal to the sum of all Extension Benefit Charges and Optional
Nonforfeiture Benefit Charges paid for the LTC Rider minus any Extension
Benefits paid prior to the date the Contractowner fully surrendered or
annuitized the contract.

Payments of the Nonforfeiture Benefit Amount are made only after the seventh
contract anniversary (after the third anniversary in the state of Texas) and
after the conditions set forth below are met. Payment of the Nonforfeiture
Benefit Amount is subject to the benefit eligibility and deductible period
requirements described in the Establishing Benefit Eligibility section.
Nonforfeiture Benefit Amount payments must be requested as described in the
Requesting LTC Benefits section. Nonforfeiture Benefit Amount payments will be
payable monthly up to the Maximum Monthly Level Benefit amount in effect on the
date that the LTC Rider is terminated.

Once the Nonforfeiture Benefit provision is effective, it will remain effective
until the earlier of the death of the Covered Life or the date the total
Nonforfeiture Benefit Amounts have been fully paid out. Upon the death of the
Covered Life, the Nonforfeiture Benefit terminates. The Nonforfeiture Benefit
Amount will not exceed the remaining amount of Extension Benefits that would
have been paid if the LTC Rider had remained in force.

Contingent Nonforfeiture Benefit. The Contingent Nonforfeiture Benefit is
provided at no charge on all LTC Riders. The Contingent Nonforfeiture Benefit
will pay you the Nonforfeiture Benefit Amount if both of the following
conditions are met:
o the sum of the Extension Benefit Charge rate and/or Optional Nonforfeiture
Benefit Charge rate, if elected, has increased by more than a specified
percentage over the initial charge; and
o you surrender your contract or elect to terminate the LTC Rider within 120
days after the Extension Benefit Charge rate and/or Optional Nonforfeiture
Benefit Charge rate, if elected, is increased.

The specified percentage of change to the sum of the Extension Benefit Charge
rate and/or the Optional Nonforfeiture Benefit Charge rate that will trigger
the availability of Contingent Nonforfeiture Benefit is determined by your age
as of the contract date. The specified percentages are as follows:

Age on Percent Over Initial Percent Over Initial
Contract Date Charge Age Charge

45 - 49 130% 66 48%
50 - 54 110% 67 46%
55 - 59 90% 68 44%
60 70% 69 42%
61 66% 70 40%
62 62% 71 38%
63 58% 72 36%
64 54% 73 34%
65 50% 74 32%

Optional Nonforfeiture Benefit. As noted, for an additional charge, you may
purchase the Optional Nonforfeiture Benefit. The Optional Nonforfeiture Benefit
provides for payment of the Nonforfeiture Benefit Amount under the following
conditions:
o you surrender the contract at least three years after the contract date; or
o you submit a written request to terminate the LTC Rider at least three years
after the contract date; or
o you elect to receive annuity payments under any Annuity Payout option
available in the contract or any other annuity settlement option we make
available and commencing prior to the contract's maturity date and at least
three years after the contract date.

If you purchase the Optional Nonforfeiture Benefit and terminate the LTC Rider
under conditions applicable under either the Contingent Nonforfeiture Benefit
and the Optional Nonforfeiture Benefit, only the one applicable Nonforfeiture
Benefit will be payable. The Optional Nonforfeiture provision may not be
purchased after the LTC Rider is issued.

132
<PAGE>

General Provisions

Death Benefits

The LTC Rider has no provision for Death Benefits, other than the Death Benefit
provision in the underlying contract. The LTC Rider terminates upon death of
the Covered Life and the LTC Benefits, including the LTC Guaranteed Amount,
will not be payable under any Death Benefit option. At the time of death, if
the Contract Value equals zero, no Death Benefit options (as described in the
"Death Benefit" section of the prospectus) will be in effect. If a
Contractowner who had been receiving LTC Benefit payments dies while the
contract is in effect, we reserve the right to withhold a portion of any Death
Benefits that would otherwise be payable until we have verified that we have
received all requests for LTC Benefits. Death Benefit distributions in
accordance with Code section 72(s) or 401(a) (9) will not be made later than
five years from the date of the Contractowner's death.

The Guarantee of Principal Death Benefit and Enhanced Guaranteed Minimum Death
Benefit both calculate Death Benefit amounts by deducting withdrawals in the
same proportion that the withdrawal reduces the Contract Value. For purposes of
calculating Death Benefits under those contracts, Acceleration Benefit payments
and Growth Benefit payments, as well as Conforming and Excess Withdrawals, are
considered withdrawals that reduce the amount of the Death Benefit. See The
Contracts - Death Benefits.

Investment Requirements

By purchasing the LTC Rider, you will be limited in how you can invest in the
Subaccounts and the fixed account. You will be subject to Investment
Requirements. See The Contracts - Investment Requirements for a description of
these investment restrictions. The Investment Requirements will apply to your
entire Contract Value. No Purchase Payments can be directly invested in the LTC
Fixed Account.

Federal Taxation

Qualified Long-Term Care Insurance Contract. The LTC Rider is a Qualified
Long-Term Care Insurance Contract under section 7702B(b) of the Internal
Revenue Code. As described above, the LTC Charge is deducted from the Contract
Value on a quarterly basis. For tax years beginning after December 31, 2009,
the deductions from the Contract Value to pay LTC Charges will not be reported
as taxable distributions from the variable annuity contract and such deductions
will reduce the Contractowners basis in the contract. The deductions from the
Contract Value will reduce the Contract Value, but not below zero.

Federal Income Tax Treatment of Benefits under the LTC Rider. The LTC Benefits
provided under the LTC Rider are treated as provided under a "Qualified
Long-Term Care Insurance Contract," as that term is defined under section
7702B(b) of the Internal Revenue Code. This discussion outlines our
understanding of the federal income tax treatment of the LTC Benefits, as well
as how the LTC Benefit payments will be reported to you. However, you should
always consult a tax advisor about the application of tax rules to your
individual situation.

Benefits that you receive under a Qualified Long-Term Care Insurance Contract
will not be treated as taxable income to you as long as such benefits do not
exceed the greater of (i) the expenses that you actually incur for Covered
Services, or (ii) a maximum per diem, or daily, dollar amount determined by the
IRS. All payments that you receive under all Qualified Long-Term Care Insurance
Contracts, as well as any payments under an accelerated benefit rider made to
you if you are chronically ill, are included in determining whether the benefit
limits have been exceeded and reduce the Contractowner's basis in the contract.
These payments may also reduce the basis in your annuity contract.

If the LTC Benefits that you receive exceed the benefit limits outlined above,
the amount of the excess benefits may represent taxable income to you. If you
are under age 591/2 at the time of the payment of excess benefits, an
additional 10% "penalty tax" may apply.

If the Maximum Monthly LTC Benefit amount, if applicable, exceeds the limits
under IRS rules (currently $360.00 per day or $131,400 annually for 2017),
amounts received by you in excess of the IRS limit may be excludable from
ordinary income to the extent that you have actually incurred long-term care
expenses of that amount. You should take into account the IRS limit when
selecting the amount of monthly LTC Benefit you would like to receive. We
recommend that you discuss the tax implications of receiving benefits in excess
of the IRS limit with a tax advisor.

Maturity Date

When you purchase the LTC Rider, the maturity date set forth in your contract
will be the Annuitant's 99th birthday. The maturity date is the date when you
must choose an Annuity Payout option and annuitize your contract. Except as set
forth below, annuitization of your contract will terminate the LTC Rider.

If you are receiving LTC Benefit payments under this LTC Rider at the maturity
date (when you reach age 99), we will extend the maturity date and continue to
provide LTC Benefit payments, subject to the terms and conditions of the LTC
Rider. If you decide to elect an Annuity Payout option and annuitize your
Contract Value, the LTC Rider will terminate.

If you are not receiving LTC Benefit payments at the maturity date and you have
a Contract Value, you will need to elect an Annuity Payout option available
under your contract. This will terminate the Acceleration and Growth Benefits
(that would have been paid from your Contract Value) and also the LTC Charge.
However, the Extension Benefit, if any, will continue on your contract.

133
<PAGE>

If LTC Benefit payments end after you reach age 99 and you still have value in
your contract, you must elect an Annuity Payout option within 90 days after the
last LTC Benefit payment is made. This will terminate the LTC Rider. An
exception to this occurs if LTC Benefit payments stop after age 99 because you
are not currently eligible to receive benefits (for example, you are no longer
receiving LTC Services). In this situation, the Acceleration and Growth
Benefits that would have been paid from your Contract Value will terminate as
well as the LTC Charge. Any Extension Benefit will remain in effect to provide
payments in the event of future eligibility for LTC Benefits.

Any LTC Benefit paid after age 99 will be paid in the same manner as any LTC
Benefit previously described in this discussion, including, but not limited to,
eligibility, deductible period and maximum monthly limits.

Misstatement of Age or Sex

If your age or sex has been misstated, we will adjust the LTC Charges to the
amounts that would have applied based on your correct age or sex. If the LTC
Rider would not have been issued at the correct age and sex, it will be
cancelled and we will refund to you all LTC Charges paid minus the amount of
LTC Benefits that have been paid.

LTC Rider Return Privilege

You may cancel the LTC Rider within 30 days of your receipt of the LTC Rider
for any reason by delivering or mailing the LTC Rider, postage prepaid, to the
Home Office at PO Box 7866, 1300 Clinton Street, Fort Wayne, IN 46802-7866. A
LTC Rider cancelled under this provision will be void and any LTC Charges
assessed will be refunded. Cancellation of the LTC Rider under this provision
will not result in cancellation of the contract.

Monthly Statements

In addition to the quarterly variable annuity statement, we will send you a
monthly statement once you begin receiving LTC Benefit payments detailing the
amount of LTC Benefits that have been paid and remaining available LTC
Benefits. The monthly statement will only be sent to you for those months that
you received an LTC Benefit. The statement will also show the impact of such
LTC Benefit payments on your Contract Value and Death Benefit, if any. See
General Provisions - Death Benefits for a description of the impact of the LTC
Rider on Death Benefits.

Annuity Payouts
When you apply for a contract, you may select any Annuity Commencement Date
permitted by law, which is usually on or before the Annuitant's 99th birthday.
Your broker-dealer may recommend that you annuitize at an earlier age. As an
alternative, Contractowners with Lincoln SmartSecurity (Reg. TM) Advantage may
elect to annuitize their Guaranteed Amount under the Guaranteed Amount Annuity
Payment Option. Contractowners with Lincoln Lifetime IncomeSM Advantage may
elect the Maximum Annual Withdrawal Amount Annuity Payout Option.
Contractowners with any version of Lincoln Lifetime IncomeSM Advantage 2.0 ,
Lincoln Market Select (Reg. TM) Advantage or Lincoln Max 6 SelectSM Advantage
may elect to annuitize their Income Base under the Guaranteed Annual Income
Amount Annuity Payout Option.

The contract provides optional forms of payouts of annuities (annuity options),
each of which is payable on a variable basis, a fixed basis or a combination of
both as you specify. The contract provides that all or part of the Contract
Value may be used to purchase an Annuity Payout option.

You may elect Annuity Payouts in monthly, quarterly, semiannual or annual
installments. If the payouts from any Subaccount would be or become less than
$50, we have the right to reduce their frequency until the payouts are at least
$50 each. Following are explanations of the annuity options available.

Annuity Options

The annuity options outlined below do not apply to Contractowners who have
elected i4LIFE (Reg. TM) Advantage or any version of i4LIFE (Reg. TM) Advantage
Guaranteed Income Benefit, the Maximum Annual Withdrawal Amount Annuity Payout
Option, the Guaranteed Amount Annuity Payment Option, or the Guaranteed Annual
Income Amount Annuity Payout Option.

Life Annuity. This option offers a periodic payout during the lifetime of the
Annuitant and ends with the last payout before the death of the Annuitant. This
option offers the highest periodic payout since there is no guarantee of a
minimum number of payouts or provision for a Death Benefit for Beneficiaries.
However, there is the risk under this option that the recipient would receive
no payouts if the Annuitant dies before the date set for the first payout; only
one payout if death occurs before the second scheduled payout, and so on.

Life Annuity with Payouts Guaranteed for Designated Period. This option
guarantees periodic payouts during a designated period, usually 10 or 20 years,
and then continues throughout the lifetime of the Annuitant. The designated
period is selected by the Contractowner.

134
<PAGE>

Joint Life Annuity. This option offers a periodic payout during the joint
lifetime of the Annuitant and a designated joint Annuitant. The payouts
continue during the lifetime of the survivor. However, under a joint life
annuity, if both Annuitants die before the date set for the first payout, no
payouts will be made. Only one payment would be made if both deaths occur
before the second scheduled payout, and so on.

Joint Life Annuity with Guaranteed Period. This option guarantees periodic
payouts during a designated period, usually 10 or 20 years, and continues
during the joint lifetime of the Annuitant and a designated joint Annuitant.
The payouts continue during the lifetime of the survivor. The designated period
is selected by the Contractowner.

Joint Life and Two Thirds to Survivor Annuity. This option provides a periodic
payout during the joint lifetime of the Annuitant and a designated joint
Annuitant. When one of the joint Annuitants dies, the survivor receives two
thirds of the periodic payout made when both were alive.

Joint Life and Two-Thirds Survivor Annuity with Guaranteed Period. This option
provides a periodic payout during the joint lifetime of the Annuitant and a
joint Annuitant. When one of the joint Annuitants dies, the survivor receives
two-thirds of the periodic payout made when both were alive. This option
further provides that should one or both of the Annuitants die during the
elected guaranteed period, usually 10 or 20 years, full benefit payment will
continue for the rest of the guaranteed period.

Unit Refund Life Annuity. This option offers a periodic payout during the
lifetime of the Annuitant with the guarantee that upon death a payout will be
made of the value of the number of Annuity Units (see Variable Annuity Payouts)
equal to the excess, if any, of:
o the total amount applied under this option divided by the Annuity Unit value
for the date payouts begin, minus
o the Annuity Units represented by each payout to the Annuitant multiplied by
the number of payouts paid before death.

The value of the number of Annuity Units is computed on the date the death
claim is approved for payment by the Home Office.

Life Annuity with Cash Refund. Fixed annuity benefit payments that will be made
for the lifetime of the Annuitant with the guarantee that upon death, should
(a) the total dollar amount applied to purchase this option be greater than (b)
the fixed annuity benefit payment multiplied by the number of annuity benefit
payments paid prior to death, then a refund payment equal to the dollar amount
of (a) minus (b) will be made.

Under the annuity options listed above, you may not make withdrawals. Other
options, with or without withdrawal features, may be made available by us. You
may pre-select an Annuity Payout option as a method of paying the Death Benefit
to a Beneficiary. If you do, the Beneficiary cannot change this payout option.
You may change or revoke in writing to our Home Office, any such selection,
unless such selection was made irrevocable. If you have not already chosen an
Annuity Payout option, the Beneficiary may choose any Annuity Payout option. At
death, options are only available to the extent they are consistent with the
requirements of the contract as well as Sections 72(s) and 401(a)(9) of the tax
code, if applicable.

General Information

Any previously selected Death Benefit in effect before the Annuity Commencement
Date will no longer be available on and after the Annuity Commencement Date.
You may change the Annuity Commencement Date, change the annuity option or
change the allocation of the investment among Subaccounts up to 30 days before
the scheduled Annuity Commencement Date, upon written notice to the Home
Office. You must give us at least 30 days' notice before the date on which you
want payouts to begin. We may require proof of age, sex, or survival of any
payee upon whose age, sex, or survival payments depend.

Unless you select another option, the contract automatically provides for a
life annuity with Annuity Payouts guaranteed for 10 years (on a fixed, variable
or combination fixed and variable basis, in proportion to the account
allocations at the time of annuitization) except when a joint life payout is
required by law. Under any option providing for guaranteed period payouts, the
number of payouts which remain unpaid at the date of the Annuitant's death (or
surviving Annuitant's death in case of joint life Annuity) will be paid to you
or your Beneficiary as payouts become due after we are in receipt of:
o proof, satisfactory to us, of the death;
o written authorization for payment; and
o all claim forms, fully completed.

Variable Annuity Payouts

Variable Annuity Payouts will be determined using:
o The Contract Value on the Annuity Commencement Date, less any applicable
premium taxes;
o The annuity tables contained in the contract;
o The annuity option selected; and
o The investment performance of the fund(s) selected.

To determine the amount of payouts, we make this calculation:

1. Determine the dollar amount of the first periodic payout; then

135
<PAGE>

2. Credit the contract with a fixed number of Annuity Units equal to the first
periodic payout divided by the Annuity Unit value; and

3. Calculate the value of the Annuity Units each period thereafter.

Annuity Payouts assume an investment return of 3%, 4%, 5%, or 6% per year, as
applied to the applicable mortality table. Some of these assumed interest rates
may not be available in your state; therefore, please check with your
registered representative. You may choose your assumed interest rate at the
time you elect a variable Annuity Payout on the administrative form provided by
us. The higher the assumed interest rate you choose, the higher your initial
annuity payment will be. The amount of each payout after the initial payout
will depend upon how the underlying fund(s) perform, relative to the assumed
rate. If the actual net investment rate (annualized) exceeds the assumed rate,
the payment will increase at a rate proportional to the amount of such excess.
Conversely, if the actual rate is less than the assumed rate, annuity payments
will decrease. The higher the assumed interest rate, the less likely future
annuity payments are to increase, or the payments will increase more slowly
than if a lower assumed rate was used. There is a more complete explanation of
this calculation in the SAI.

Fixed Side of the Contract

You may allocate Purchase Payments to the fixed side of the contract, if
available. Allocations made to the fixed side of the contract are added to your
Contract Value. Certain charges related to the contract and the charges for the
Living Benefit Riders are deducted from your Contract Value. Therefore, a
portion of those charges may be deducted from the fixed account. See Charges
and Other Deductions section of this prospectus for more information. Since
amounts in the fixed account make up part of your Contract Value, those amounts
may be used to calculate benefits under the Living Benefit Riders. See the
Living Benefit Riders section in this prospectus for more information.

Net Purchase Payments and Contract Value allocated to the fixed side of the
contract become part of our general account, and do not participate in the
investment experience of the VAA. The general account is subject to regulation
and supervision by the Indiana Department of Insurance as well as the insurance
laws and regulations of the jurisdictions in which the contracts are
distributed.

In reliance on certain exemptions, exclusions and rules, we have not registered
interests in the general account as a security under the Securities Act of 1933
and have not registered the general account as an investment company under the
1940 Act. Accordingly, neither the general account nor any interests in it are
regulated under the 1933 Act or the 1940 Act. We have been advised that the
staff of the SEC has not made a review of the disclosures which are included in
this prospectus which relate to our general account and to the fixed account
under the contract. These disclosures, however, may be subject to certain
provisions of the federal securities laws relating to the accuracy and
completeness of statements made in prospectuses. This prospectus is generally
intended to serve as a disclosure document only for aspects of the contract
involving the VAA, and therefore contains only selected information regarding
the fixed side of the contract. Complete details regarding the fixed side of
the contract are in the contract.

We guarantee an annual effective interest rate of not less than 1.50% per year
on amounts held in a fixed account. Any amount surrendered, withdrawn from or
transferred out of a fixed account prior to the expiration of the Guaranteed
Period is subject to the Interest Adjustment and other charges (see Interest
Adjustment and Charges and Other Deductions). This may reduce your value upon
surrender, withdrawal or transfer but will not reduce the amount below the
value it would have had if 1.50% (or the guaranteed minimum interest rate for
your contract) interest had been credited to the fixed account. Refer to
Transfers before the Annuity Commencement Date and Transfers after the Annuity
Commencement Date for additional transfer restrictions from the fixed account.

ANY INTEREST IN EXCESS OF 1.50% (OR THE GUARANTEED MINIMUM INTEREST RATE STATED
IN YOUR CONTRACT) WILL BE DECLARED IN ADVANCE AT OUR SOLE DISCRETION.
CONTRACTOWNERS BEAR THE RISK THAT NO INTEREST IN EXCESS OF THE MINIMUM INTEREST
RATE WILL BE DECLARED.

Your contract may not offer a fixed account or if permitted by your contract,
we may discontinue accepting Purchase Payments or transfers into the fixed side
of the contract at any time. Please contact your registered representative for
further information.

Guaranteed Periods

The fixed account is divided into separate Guaranteed Periods, which credit
guaranteed interest.

You may allocate Net Purchase Payments to one or more Guaranteed Periods of 1
to 10 years. We may add Guaranteed Periods or discontinue accepting Net
Purchase Payments into one or more Guaranteed Periods at any time. The minimum
amount of any Gross Purchase Payment that can be allocated to a Guaranteed
Period is $2,000. Each Net Purchase Payment allocated to the fixed account will
start its own Guaranteed Period and will earn a guaranteed interest rate. The
duration of the Guaranteed Period affects the guaranteed interest rate of the
fixed account. A Guaranteed Period ends on the date after the number of
calendar years in the Guaranteed Period. Interest will be credited daily at a
guaranteed rate that is equal to the effective annual rate determined on the
first day of the Guaranteed Period. Amounts surrendered, transferred or
withdrawn prior to the end of the Guaranteed Period will be subject to the
Interest Adjustment. Each Guaranteed Period Net Purchase Payment will be
treated separately for purposes of determining any applicable Interest
Adjustment.

You may transfer amounts from the fixed account to the variable Subaccount(s)
subject to the following restrictions:
o fixed account transfers are limited to 25% of the value of that fixed account
in any 12-month period; and

136
<PAGE>

o the minimum amount that can be transferred is $300 or, if less, the amount in
the fixed account.

Because of these restrictions, it may take several years to transfer amounts
from the fixed account to the variable Subaccounts. You should carefully
consider whether the fixed account meets your investment criteria. Any amount
withdrawn from the fixed account may be subject to any applicable account fees
and premium taxes.

We will notify the Contractowner in writing at least 30 days prior to the
expiration date for any Guaranteed Period amount. A new Guaranteed Period of
the same duration as the previous Guaranteed Period will begin automatically at
the end of the previous Guaranteed Period, unless we receive, prior to the end
of a Guaranteed Period, a written election by the Contractowner. The written
election may request the transfer of the Guaranteed Period amount to a
different fixed account or to a variable Subaccount from among those being
offered by us. Transfers of any Guaranteed Period amount which become effective
upon the date of expiration of the applicable Guaranteed Period are not subject
to the limitation of twelve transfers per Contract Year or the additional fixed
account transfer restrictions.

Interest Adjustment

Any surrender, withdrawal or transfer of a Guaranteed Period amount before the
end of the Guaranteed Period (other than dollar cost averaging,
cross-reinvestment, Maximum Annual Withdrawals under Lincoln SmartSecurity
(Reg. TM) Advantage or Regular Income Payments under i4LIFE (Reg. TM)
Advantage) will be subject to the Interest Adjustment. A surrender, withdrawal
or transfer effective upon the expiration date of the Guaranteed Period will
not be subject to the Interest Adjustment. The Interest Adjustment will be
applied to the amount being surrendered, withdrawn or transferred. The Interest
Adjustment will be applied after the deduction of any applicable account fees
and before any applicable transfer charges. Any transfer, withdrawal, or
surrender of Contract Value from the fixed account will be increased or
decreased by an Interest Adjustment, unless the transfer, withdrawal or
surrender is effective:
o during the free look period (See Return Privilege).
o on the expiration date of a Guaranteed Period.
o as a result of the death of the Contractowner or Annuitant.
o subsequent to the diagnosis of a terminal illness of the Contractowner.
Diagnosis of the terminal illness must be after the effective date of the
contract and result in a life expectancy of less than one year, as
determined by a qualified professional medical practitioner.
o subsequent to the admittance of the Contractowner into an accredited nursing
home or equivalent health care facility. Admittance into such facility must
be after the effective date of the contract and continue for 90 consecutive
days prior to the surrender or withdrawal.
o subsequent to the permanent and total disability of the Contractowner if such
disability begins after the effective date of the contract and prior to the
65th birthday of the Contractowner.
o upon annuitization of the contract.

These provisions may not be applicable to your contract or available in your
state. Please check with your registered representative regarding the
availability of these provisions.

In general, the Interest Adjustment reflects the relationship between the yield
rate in effect at the time a Net Purchase Payment is allocated to a fixed
subaccount's Guaranteed Period under the contract and the yield rate in effect
at the time of the Net Purchase Payment's surrender, withdrawal or transfer. It
also reflects the time remaining in the Guaranteed Period. If the yield rate at
the time of the surrender, withdrawal or transfer is lower than the yield rate
at the time the Net Purchase Payment was allocated, then the application of the
Interest Adjustment will generally result in a higher payment at the time of
the surrender, withdrawal or transfer. Similarly, if the yield rate at the time
of surrender, withdrawal or transfer is higher than the yield rate at the time
of the allocation of the Net Purchase Payment, then the application of the
Interest Adjustment will generally result in a lower payment at the time of the
surrender, withdrawal or transfer. The yield rate is published by the Federal
Reserve Board.

The Interest Adjustment is calculated by multiplying the transaction amount by:

(1+A)n
-----------
-1
(1+B+K)n

137
<PAGE>

where:
A =
B =
K =
n =

whe e:
A yield rate for a U.S. Treasury security with time to maturity equal to the Subaccount's Guaranteed Period, determined at
the beginning of the Guaranteed Period.
B yield rate for a U.S. Treasury security with time to maturity equal to the time remaining in the Guaranteed Period if
greater
than one year, determined at the time of surrender, withdrawal or transfer. For remaining periods of one year or less, the
yield rate for a one year U.S. Treasury security is used.
K a 0.25% adjustment (unless otherwise limited by applicable state law). This adjustment builds into the formula a factor
representing direct and indirect costs to us associated with liquidating general account assets in order to satisfy
surrender requests. This adjustment of 0.25% has been added to the denominator of the formula because it is anticipated
that a substantial portion of applicable general account portfolio assets will be in relatively illiquid securities. Thus,
in
addition to direct transaction costs, if such securities must be sold (e.g., because of surrenders), the market price may
be
lower. Accordingly, even if interest rates decline, there will not be a positive adjustment until this factor is overcome,
and
then any adjustment will be lower than otherwise, to compensate for this factor. Similarly, if interest rates rise, any
negative adjustment will be greater than otherwise, to compensate for this factor. If interest rates stay the same, there
will
be no Interest Adjustment.
n The number of years remaining in the Guaranteed Period (e.g., 1 year and 73 days = 1 + (73 divided by 365) = 1.2 years).
Straight-Line interpolation is used for periods to maturity not quoted.

See the SAI for examples of the application of the Interest Adjustment.

Small Contract Surrenders

We may surrender your contract, in accordance with the laws of your state if:
o your Contract Value drops below certain state specified minimum amounts
($1,000 or less) for any reason, including if your Contract Value decreases
due to the performance of the Subaccounts you selected;
o no Gross Purchase Payments have been received for two (2) full, consecutive
Contract Years; and
o the annuity benefit at the Annuity Commencement Date would be less than
$20.00 per month (these requirements may differ in some states).

At least 60 days before we surrender your contract, we will send you a letter
at your last address we have on file, to inform you that your contract will be
surrendered. You will have the opportunity to make additional Gross Purchase
Payments to bring your Contract Value above the minimum level to avoid
surrender. We will not surrender your contract if you are receiving guaranteed
payments from us under one of the Living Benefit Riders.

Delay of Payments

Contract proceeds from the VAA will be paid within seven days, except:
o when the NYSE is closed (other than weekends and holidays);
o times when market trading is restricted or the SEC declares an emergency, and
we cannot value units or the funds cannot redeem shares; or
o when the SEC so orders to protect Contractowners.

If, pursuant to SEC rules, an underlying money market fund suspends payment of
redemption proceeds in connection with a liquidation of the fund, we will delay
payment of any transfer, partial withdrawal, surrender, loan, or Death Benefit
from the money market sub-account until the fund is liquidated. Payment of
contract proceeds from the fixed account may be delayed for up to six months.

Due to federal laws designed to counter terrorism and prevent money laundering
by criminals, we may be required to reject a Purchase Payment and/or deny
payment of a request for transfers, withdrawals, surrenders, or Death Benefits,
until instructions are received from the appropriate regulator. We also may be
required to provide additional information about a Contractowner's account to
government regulators.

Reinvestment Privilege

You may elect to make a reinvestment purchase with any part of the proceeds of
a surrender/withdrawal, without a new sales charge.

This election must be made by your written authorization to us on an approved
Lincoln reinvestment form and received in our Home Office within 30 days of the
date of the surrender/withdrawal, and the repurchase must be of a contract
covered by this prospectus. In the case of a qualified retirement plan, a
representation must be made that the proceeds being used to make the purchase
have retained their tax-favored status under an arrangement for which the
contracts offered by this prospectus are designed. The number of Accumulation
Units which will be credited when the proceeds are reinvested will be based on
the value of the Accumulation Unit(s) on the next Valuation Date. This
computation will occur following receipt of the proceeds and request for
reinvestment at the Home Office. You may utilize the reinvestment privilege
only once. For tax reporting purposes, we will treat a surrender/withdrawal and
a

138
<PAGE>

subsequent reinvestment purchase as separate transactions (and a Form 1099 may
be issued, if applicable). Any taxable distribution that is reinvested may
still be reported as taxable. You should consult a tax advisor before you
request a surrender/withdrawal or subsequent reinvestment purchase.

Amendment of Contract

We reserve the right to amend the contract to meet the requirements of the 1940
Act or other applicable federal or state laws or regulations. You will be
notified in writing of any changes, modifications or waivers. Any changes are
subject to prior approval of your state's insurance department (if required).

Distribution of the Contracts
Lincoln Financial Distributors, Inc. ("LFD") serves as Principal Underwriter of
this contract. LFD is affiliated with Lincoln Life and is registered as a
broker-dealer with the SEC under the Securities Exchange Act of 1934 and is a
member of FINRA. The Principal Underwriter has entered into selling agreements
with Lincoln Financial Advisors Corporation and/or Lincoln Financial Securities
Corporation (collectively "LFN"), also affiliates of ours. The Principal
Underwriter has also entered into selling agreements with broker-dealers that
are unaffiliated with us ("Selling Firms"). While the Principal Underwriter has
the legal authority to make payments to broker-dealers which have entered into
selling agreements, we will make such payments on behalf of the Principal
Underwriter in compliance with appropriate regulations. We also pay on behalf
of LFD certain of its operating expenses related to the distribution of this
and other of our contracts. The Principal Underwriter may also offer "non-cash
compensation", as defined under FINRA's rules, which includes among other
things, merchandise, gifts, marketing support, sponsorships, seminars,
entertainment and travel expenses. You may ask your registered representative
how he/she will personally be compensated, in whole or in part, for the sale of
the contract to you or for any alternative proposal that may have been
presented to you. You may wish to take such compensation payments into account
when considering and evaluating any recommendation made to you in connection
with the purchase of a contract. The following paragraphs describe how payments
are made by us and the Principal Underwriter to various parties.

Compensation Paid to LFN. The maximum commission the Principal Underwriter pays
to LFN is 5.00% of Purchase Payments. LFN may elect to receive a lower
commission when a Purchase Payment is made along with an earlier quarterly
payment based on Contract Value for so long as the contract remains in effect.
Upon annuitization, the maximum commission the Principal Underwriter pays to
LFN is 5.00% of annuitized value and/or ongoing annual compensation of up to
1.00% of annuity value or statutory reserves.

Lincoln Life also pays for the operating and other expenses of LFN, including
the following sales expenses: registered representative training allowances;
compensation and bonuses for LFN's management team; advertising expenses; and
all other expenses of distributing the contracts. LFN pays its registered
representatives a portion of the commissions received for their sales of
contracts. LFN registered representatives and their managers are also eligible
for various cash benefits, such as bonuses, insurance benefits and financing
arrangements. In addition, LFN registered representatives who meet certain
productivity, persistency and length of service standards and/or their managers
may be eligible for additional compensation. Sales of the contracts may help
LFN registered representatives and/or their managers qualify for such benefits.
LFN registered representatives and their managers may receive other payments
from us for services that do not directly involve the sale of the contracts,
including payments made for the recruitment and training of personnel,
production of promotional literature and similar services.

Compensation Paid to Unaffiliated Selling Firms. The Principal Underwriter pays
commissions to all Selling Firms. The maximum commission the Principal
Underwriter pays to Selling Firms, other than LFN, is 5.25% of Purchase
Payments, plus 0.35% annual trail compensation beginning in years two and
beyond. Some Selling Firms may elect to receive a lower commission when a
Purchase Payment is made along with an earlier quarterly payment based on
Contract Value for so long as the contract's Selling Firm remains in effect.
Upon annuitization, the maximum commission the Principal Underwriter pays to
Selling Firms is 5.25% of annuitized value and/or ongoing annual compensation
of up to 0.60% of annuity value or statutory reserves. LFD also acts as
wholesaler of the contracts and performs certain marketing and other functions
in support of the distribution and servicing of the contracts.

LFD may pay certain Selling Firms or their affiliates additional amounts for,
among other things: (1) "preferred product" treatment of the contracts in their
marketing programs, which may include marketing services and increased access
to registered representatives; (2) sales promotions relating to the contracts;
(3) costs associated with sales conferences and educational seminars for their
registered representatives; (4) other sales expenses incurred by them; and (5)
inclusion in the financial products the Selling Firm offers.

Lincoln Life may provide loans to broker-dealers or their affiliates to help
finance marketing and distribution of the contracts, and those loans may be
forgiven if aggregate sales goals are met. In addition, we may provide staffing
or other administrative support and services to broker-dealers who distribute
the contracts. LFD, as wholesaler, may make bonus payments to certain Selling
Firms based on aggregate sales of our variable insurance contracts (including
the contracts) or persistency standards.

These additional types of compensation are not offered to all Selling Firms.
The terms of any particular agreement governing compensation may vary among
Selling Firms and the amounts may be significant. The prospect of receiving, or
the receipt of, additional compensation may provide Selling Firms and/or their
registered representatives with an incentive to favor sales of the contracts
over other variable annuity contracts (or other investments) with respect to
which a Selling Firm does not receive additional compensation, or

139
<PAGE>

lower levels of additional compensation. You may wish to take such payment
arrangements into account when considering and evaluating any recommendation
relating to the contracts. Additional information relating to compensation paid
in 2016 is contained in the SAI.

Compensation Paid to Other Parties. Depending on the particular selling
arrangements, there may be others whom LFD compensates for the distribution
activities. For example, LFD may compensate certain "wholesalers", who control
access to certain selling offices, for access to those offices or for
referrals, and that compensation may be separate from the compensation paid for
sales of the contracts. LFD may compensate marketing organizations,
associations, brokers or consultants which provide marketing assistance and
other services to broker-dealers who distribute the contracts, and which may be
affiliated with those broker-dealers. Commissions and other incentives or
payments described above are not charged directly to Contractowners or the VAA.
All compensation is paid from our resources, which include fees and charges
imposed on your contract.

Contractowner Questions

The obligations to purchasers under the contracts are those of Lincoln Life.
This prospectus provides a general description of the material features of the
contract. Contracts, endorsements and riders may vary as required by state law.
Questions about your contract should be directed to us at 1-888-868-2583.

Federal Tax Matters

Introduction
The Federal income tax treatment of the contract is complex and sometimes
uncertain. The Federal income tax rules may vary with your particular
circumstances. This discussion does not include all the Federal income tax
rules that may affect you and your contract. This discussion also does not
address other Federal tax consequences (including consequences of sales to
foreign individuals or entities), or state or local tax consequences,
associated with the contract. As a result, you should always consult a tax
advisor about the application of tax rules found in the Internal Revenue Code
("Code"), Treasury Regulations and applicable IRS guidance to your individual
situation.

Nonqualified Annuities

This part of the discussion describes some of the Federal income tax rules
applicable to nonqualified annuities. A nonqualified annuity is a contract not
issued in connection with a qualified retirement plan, such as an IRA or a
section 403(b) plan, receiving special tax treatment under the Code. We may not
offer nonqualified annuities for all of our annuity products.

Tax Deferral On Earnings

Under the Code, you are generally not subject to tax on any increase in your
Contract Value until you receive a contract distribution. However, for this
general rule to apply, certain requirements must be satisfied:
o An individual must own the contract (or the Code must treat the contract as
owned by an individual).
o The investments of the VAA must be "adequately diversified" in accordance
with Treasury regulations.
o Your right to choose particular investments for a contract must be limited.
o The Annuity Commencement Date must not occur near the end of the Annuitant's
life expectancy.

Contracts Not Owned By An Individual

If a contract is owned by an entity (rather than an individual) the Code
generally does not treat it as an annuity contract for Federal income tax
purposes. This means that the entity owning the contract pays tax currently on
the excess of the Contract Value over the Purchase Payments for the contract.
Examples of contracts where the owner pays current tax on the contract's
earnings, if applicable, are contracts issued to a corporation or a trust. Some
exceptions to the rule are:
o Contracts in which the named owner is a trust or other entity that holds the
contract as an agent for an individual; however, this exception does not
apply in the case of any employer that owns a contract to provide deferred
compensation for its employees;
o Immediate annuity contracts, purchased with a single premium, when the
annuity starting date is no later than a year from purchase and
substantially equal periodic payments are made, not less frequently than
annually, during the Annuity Payout period;
o Contracts acquired by an estate of a decedent;
o Certain qualified contracts;
o Contracts purchased by employers upon the termination of certain qualified
plans; and
o Certain contracts used in connection with structured settlement agreements.

140
<PAGE>

Investments In The VAA Must Be Diversified

For a contract to be treated as an annuity for Federal income tax purposes, the
investments of the VAA must be "adequately diversified." Treasury regulations
define standards for determining whether the investments of the VAA are
adequately diversified. If the VAA fails to comply with these diversification
standards, you could be required to pay tax currently on the excess of the
Contract Value over the contract Gross Purchase Payments. Although we do not
control the investments of the underlying investment options, we expect that
the underlying investment options will comply with the Treasury regulations so
that the VAA will be considered "adequately diversified."

Restrictions

The Code limits your right to choose particular investments for the contract.
Because the IRS has issued little guidance specifying those limits, the limits
are uncertain and your right to allocate Contract Values among the Subaccounts
may exceed those limits. If so, you would be treated as the owner of the assets
of the VAA and thus subject to current taxation on the income and gains, if
applicable, from those assets. We do not know what limits may be set by the IRS
in any guidance that it may issue and whether any such limits will apply to
existing contracts. We reserve the right to modify the contract without your
consent in an attempt to prevent you from being considered as the owner of the
assets of the VAA for purposes of the Code.

Loss Of Interest Deduction

After June 8, 1997, if a contract is issued to a taxpayer that is not an
individual, or if a contract is held for the benefit of an entity, the entity
may lose a portion of its deduction for otherwise deductible interest expenses.
However, this rule does not apply to a contract owned by an entity engaged in a
trade or business that covers the life of one individual who is either (i) a
20% Owner of the entity, or (ii) an officer, director, or employee of the trade
or business, at the time first covered by the contract. This rule also does not
apply to a contract owned by an entity engaged in a trade or business that
covers the joint lives of the 20% Owner or the entity and the Owner's spouse at
the time first covered by the contract.

Age At Which Annuity Payouts Begin

The Code does not expressly identify a particular age by which Annuity Payouts
must begin. However, those rules do require that an annuity contract provide
for amortization, through Annuity Payouts, of the contract's Purchase Payments
and earnings. As long as annuity payments begin or are scheduled to begin on a
date on which the Annuitant's remaining life expectancy is enough to allow for
a sufficient Annuity Payout period, the contract should be treated as an
annuity. If the annuity contract is not treated as an annuity, you would be
currently taxed on the excess of the Contract Value over the Purchase Payments
into the contract.

Tax Treatment Of Payments

We make no guarantees regarding the tax treatment of any contract or of any
transaction involving a contract. However, the rest of this discussion assumes
that your contract will be treated as an annuity under the Code and that any
increase in your Contract Value will not be taxed until there is a distribution
from your contract.

Taxation Of Withdrawals And Surrenders

You will pay tax on withdrawals to the extent your Contract Value exceeds your
Purchase Payments in the contract. This income (and all other income from your
contract) is considered ordinary income (and does not receive capital gains
treatment and is not qualified dividend income). You will pay tax on a
surrender to the extent the amount you receive exceeds your Purchase Payments.
In certain circumstances, your Purchase Payments are reduced by amounts
received from your contract that were not included in income. Surrender and
reinstatement of your contract will generally be taxed as a withdrawal. If your
contract has a Living Benefit Rider, and if the guaranteed amount under that
rider immediately before a withdrawal exceeds your Contract Value, the Code may
require that you include those additional amounts in your income. Please
consult your tax advisor.

Taxation Of Annuity Payouts, Including Regular Income Payments

The Code imposes tax on a portion of each Annuity Payout (at ordinary income
tax rates) and treats a portion as a nontaxable return of your Purchase
Payments in the contract. We will notify you annually of the taxable amount of
your Annuity Payout. Once you have recovered the total amount of the Gross
Purchase Payment in the contract, you will pay tax on the full amount of your
Annuity Payouts. If Annuity Payouts end because of the Annuitant's death and
before the total amount in the contract has been distributed, the amount not
received will generally be deductible. If withdrawals, other than Regular
Income Payments, are taken from i4LIFE (Reg. TM) Advantage during the Access
Period, they are taxed subject to an exclusion ratio that is determined based
on the amount of the payment.

Taxation Of Deductions For Lincoln Long-Term CareSM Advantage Rider Charges

The Lincoln Long-Term CareSM Advantage rider ("LTC Rider") is a Qualified
Long-Term Care Insurance Contract under section 7702B(b) of the Code. As
previously described in this prospectus, the LTC Rider charge is deducted from
the contract value on a quarterly basis. For tax years beginning after December
31, 2009, the deductions from the contract value to pay LTC Rider charges

141
<PAGE>

will not be reported as taxable distributions from the variable annuity
contract and such deductions will reduce your basis in the contract. The
deductions from the contract value will reduce the contract value, but not
below zero.

Taxation Of Amounts Paid As Long-Term Care Benefits

If your contract includes the LTC Rider (discussed in greater detail in the LTC
Rider section), distributions from your contract that are made under the terms
of the LTC Rider will not be treated as taxable income to you as long as such
benefits do not exceed the greater of (i) the expenses that you actually incur
for covered services, or (ii) a maximum per diem, or daily, dollar amount
determined by the IRS. All payments that you receive under all Qualified
Long-Term Care Insurance Contracts, as well as any payments under an
accelerated benefit rider made to you if you are chronically ill, are included
in determining whether the benefit limits have been exceeded and reduce your
basis in the contract. These payments may also reduce the basis in your annuity
contract.

Taxation Of Death Benefits

We may distribute amounts from your contract because of the death of a
Contractowner or an Annuitant. The tax treatment of these amounts depends on
whether the Contractowner or the Annuitant dies before or after the Annuity
Commencement Date.

Death prior to the Annuity Commencement Date:
o If the Beneficiary receives Death Benefits under an Annuity Payout option,
they are taxed in the same manner as Annuity Payouts.
o If the Beneficiary does not receive Death Benefits under an Annuity Payout
option, they are taxed in the same manner as a withdrawal.

Death after the Annuity Commencement Date:
o If Death Benefits are received in accordance with the existing Annuity Payout
option following the death of a Contractowner who is not the Annuitant, they
are excludible from income in the same manner as the Annuity Payout prior to
the death of the Contractowner.
o If Death Benefits are received in accordance with the existing Annuity Payout
option following the death of the Annuitant (whether or not the Annuitant is
also the Contractowner), the Death Benefits are excludible from income if
they do not exceed the Purchase Payments not yet distributed from the
contract. All Annuity Payouts in excess of the Purchase Payments not
previously received are includible in income.
o If Death Benefits are received in a lump sum, the Code imposes tax on the
amount of Death Benefits which exceeds the amount of Gross Purchase Payments
not previously received.

Additional Taxes Payable On Withdrawals, Surrenders, Or Annuity Payouts

The Code may impose a 10% additional tax on any distribution from your contract
which you must include in your gross income. The 10% additional tax does not
apply if one of several exceptions exists. These exceptions include
withdrawals, surrenders, or Annuity Payouts that:
o you receive on or after you reach 591/2,
o you receive because you became disabled (as defined in the Code),
o you receive from an immediate annuity,
o a Beneficiary receives on or after your death, or
o you receive as a series of substantially equal periodic payments based on
your life or life expectancy (non-natural owners holding as agent for an
individual do not qualify).

Unearned Income Medicare Contribution

Congress enacted the "Unearned Income Medicare Contribution" as a part of the
Health Care and Education Reconciliation Act of 2010. This tax, which affects
individuals whose modified adjusted gross income exceeds certain thresholds, is
a 3.8% tax on the lesser of (i) the individual's "unearned income", or (ii) the
dollar amount by which the individual's modified adjusted gross income exceeds
the applicable threshold. Unearned income includes the taxable portion of
distributions that you take from your annuity contract. If you take a
distribution from your contract that may be subject to the tax, we will include
a Distribution Code "D" in Box 7 of the Form 1099-R issued to report the
distribution. Please consult your tax advisor to determine whether your annuity
distributions are subject to this tax.

Special Rules If You Own More Than One Annuity Contract

In certain circumstances, you must combine some or all of the nonqualified
annuity contracts you own in order to determine the amount of an Annuity
Payout, a surrender, or a withdrawal that you must include in income. For
example, if you purchase two or more deferred annuity contracts from the same
life insurance company (or its affiliates) during any calendar year, the Code
treats all such contracts as one contract. Treating two or more contracts as
one contract could affect the amount of a surrender, a withdrawal or an Annuity
Payout that you must include in income and the amount that might be subject to
the additional tax described previously.

142
<PAGE>

Loans and Assignments

Except for certain qualified contracts, the Code treats any amount received as
a loan under your contract, and any assignment or pledge (or agreement to
assign or pledge) of any portion of your Contract Value, as a withdrawal of
such amount or portion.

Gifting A Contract

If you transfer ownership of your contract to a person other than to your
spouse (or to your former spouse incident to divorce), and receive a payment
less than your contract's value, you will pay tax on your Contract Value to the
extent it exceeds your Purchase Payments not previously received. The new
owner's Gross Purchase Payments in the contract would then be increased to
reflect the amount included in income.

Charges for Additional Benefits

Your contract automatically includes a basic Death Benefit and may include
other optional riders. Certain enhancements to the basic Death Benefit may also
be available to you. The cost of the basic Death Benefit and any additional
benefit are deducted from your contract. It is possible that the tax law may
treat all or a portion of the Death Benefit and other optional rider charges,
if any, as a contract withdrawal.

Special Considerations for Same-Sex Spouses

In 2013, the U.S. Supreme Court held that same-sex spouses who are married
under state law are treated as spouses for purposes of federal law. You are
strongly encouraged to consult a tax advisor before electing spousal rights
under the contract.

Qualified Retirement Plans

We have designed the contracts for use in connection with certain types of
retirement plans that receive favorable treatment under the Code. Contracts
issued to or in connection with a qualified retirement plan are called
"qualified contracts." We issue contracts for use with various types of
qualified retirement plans. The Federal income tax rules applicable to those
plans are complex and varied. As a result, this prospectus does not attempt to
provide more than general information about the use of the contract with the
various types of qualified retirement plans. Persons planning to use the
contract in connection with a qualified retirement plan should obtain advice
from a competent tax advisor.

Types of Qualified Contracts and Terms of Contracts

Qualified retirement plans may include the following:
o Individual Retirement Accounts and Annuities ("Traditional IRAs")
o Roth IRAs
o Traditional IRA that is part of a Simplified Employee Pension Plan ("SEP")
o SIMPLE 401(k) plans (Savings Incentive Matched Plan for Employees)
o 401(a) / (k) plans (qualified corporate employee pension and profit-sharing
plans)
o 403(a) plans (qualified annuity plans)
o 403(b) plans (public school system and tax-exempt organization annuity plans)
o H.R. 10 or Keogh Plans (self-employed individual plans)
o 457(b) plans (deferred compensation plans for state and local governments and
tax-exempt organizations)

Our individual variable annuity products are not available for use with any of
the foregoing qualified retirement plan accounts, with the exception of
Traditional IRA, SEP IRA, and Roth IRA arrangements. We will amend contracts to
be used with a qualified retirement plan as generally necessary to conform to
the Code's requirements for the type of plan. However, the rights of a person
to any qualified retirement plan benefits may be subject to the plan's terms
and conditions, regardless of the contract's terms and conditions. In addition,
we are not bound by the terms and conditions of qualified retirement plans to
the extent such terms and conditions contradict the contract, unless we
consent.

Tax Treatment of Qualified Contracts

The Federal income tax rules applicable to qualified retirement plans and
qualified contracts vary with the type of plan and contract. For example:
o Federal tax rules limit the amount of Purchase Payments that can be made, and
the tax deduction or exclusion that may be allowed for the Purchase
Payments. These limits vary depending on the type of qualified retirement
plan and the participant's specific circumstances (e.g., the participant's
compensation).
o Minimum annual distributions are required under some qualified retirement
plans once you reach age 701/2 or retire, if later as described below.
o Loans are allowed under certain types of qualified retirement plans, but
Federal income tax rules prohibit loans under other types of qualified
retirement plans. For example, Federal income tax rules permit loans under
some section 403(b) plans, but prohibit

143
<PAGE>

loans under Traditional and Roth IRAs. If allowed, loans are subject to a
variety of limitations, including restrictions as to the loan amount, the
loan's duration, the rate of interest, and the manner of repayment. Your
contract or plan may not permit loans.

Please note that qualified retirement plans such as 403(b) plans, 401(k) plans
and IRAs generally defer taxation of contributions and earnings until
distribution. As such, an annuity does not provide any additional tax deferral
benefit beyond the qualified retirement plan itself.

Tax Treatment of Payments

The Federal income tax rules generally include distributions from a qualified
contract in the participant's income as ordinary income. These taxable
distributions will include Gross Purchase Payments that were deductible or
excludible from income. Thus, under many qualified contracts, the total amount
received is included in income since a deduction or exclusion from income was
taken for Purchase Payments. There are exceptions. For example, you do not
include amounts received from a Roth IRA in income if certain conditions are
satisfied.

Required Minimum Distributions

Under most qualified plans, you must begin receiving payments from the contract
in certain minimum amounts by April 1 of the year following the year you attain
age 701/2 or retire, if later. You are required to take distributions from your
traditional IRAs by April 1 of the year following the year you reach age 701/2.
If you own a Roth IRA, you are not required to receive minimum distributions
from your Roth IRA during your life.

Failure to comply with the minimum distribution rules applicable to certain
qualified plans, such as Traditional IRAs, will result in the imposition of an
excise tax. This excise tax equals 50% of the amount by which a required
minimum distribution exceeds the actual distribution from the qualified plan.

Treasury regulations applicable to required minimum distributions include a
rule that may impact the distribution method you have chosen and the amount of
your distributions. Under these regulations, the presence of an enhanced Death
Benefit, or other benefit which could provide additional value to your
contract, may require you to take additional distributions. An enhanced Death
Benefit is any Death Benefit that has the potential to pay more than the
Contract Value or a return of Purchase Payments. Annuity contracts inside
Custodial or Trusteed IRAs will also be subject to these regulations. Please
contact your tax advisor regarding any tax ramifications.

Additional Tax on Early Distributions from Qualified Retirement Plans

The Code may impose a 10% additional tax on an early distribution from a
qualified contract that must be included in income. The Code does not impose
the additional tax if one of several exceptions applies. The exceptions vary
depending on the type of qualified contract you purchase. For example, in the
case of an IRA, the 10% additional tax will not apply to any of the following
withdrawals, surrenders, or Annuity Payouts:
o Distribution received on or after the Annuitant reaches 591/2,
o Distribution received on or after the Annuitant's death or because of the
Annuitant's disability (as defined in the Code),
o Distribution received as a series of substantially equal periodic payments
based on the Annuitant's life (or life expectancy), or
o Distribution received as reimbursement for certain amounts paid for medical
care.

These exceptions, as well as certain others not described here, generally apply
to taxable distributions from other qualified retirement plans. However, the
specific requirements of the exception may vary.

Unearned Income Medicare Contribution

Congress enacted the "Unearned Income Medicare Contribution" as a part of the
Health Care and Education Reconciliation Act of 2010. This tax affects
individuals whose modified adjusted gross income exceeds certain thresholds, is
a 3.8% tax on the lesser of (i) the individual's "unearned income", or (ii) the
dollar amount by which the individual's modified adjusted gross income exceeds
the applicable threshold. Distributions that you take from your contract are
not included in the calculation of unearned income because your contract is a
qualified plan contract. However, the amount of any such distribution is
included in determining whether you exceed the modified adjusted gross income
threshold. Please consult your tax advisor to determine whether your annuity
distributions are subject to this tax.

Transfers and Direct Rollovers

As a result of Economic Growth and Tax Relief Reconciliation Act of 2001
(EGTRRA), you may be able to move funds between different types of qualified
plans, such as 403(b) and 457(b) governmental plans, by means of a rollover or
transfer. You may be able to rollover or transfer amounts between qualified
plans and traditional IRAs. These rules do not apply to Roth IRAs and 457(b)
non-governmental tax-exempt plans. The Pension Protection Act of 2006 (PPA)
permits direct conversions from certain qualified, 403(b) or 457(b) plans to
Roth IRAs (effective for distributions after 2007). There are special rules
that apply to rollovers, direct rollovers and transfers (including rollovers or
transfers of after-tax amounts). If the applicable rules are not followed, you
may incur adverse Federal

144
<PAGE>

income tax consequences, including paying taxes which you might not otherwise
have had to pay. Before we send a rollover distribution, we will provide a
notice explaining tax withholding requirements (see Federal Income Tax
Withholding). We are not required to send you such notice for your IRA. You
should always consult your tax advisor before you move or attempt to move any
funds.

The IRS issued Announcement 2014-32 confirming its intent to apply the
one-rollover-per-year limitation of 408(d)(3)(B) on an aggregate basis to all
IRAs that an individual owns. This means that an individual cannot make a
tax-free IRA-to-IRA rollover if he or she has made such a rollover involving
any of the individual's IRAs in the current tax year. If an intended rollover
does not qualify for tax-free rollover treatment, contributions to your IRA may
constitute excess contributions that may exceed contribution limits. This
one-rollover-per-year limitation does not apply to direct trustee-to-trustee
transfers.

Death Benefit and IRAs

Pursuant to Treasury regulations, IRAs may not invest in life insurance
contracts. We do not believe that these regulations prohibit the Death Benefit
from being provided under the contract when we issue the contract as a
Traditional or Roth IRA. However, the law is unclear and it is possible that
the presence of the Death Benefit under a contract issued as a Traditional or
Roth IRA could result in increased taxes to you. Certain Death Benefit options
may not be available for all of our products.

Federal Income Tax Withholding

We will withhold and remit to the IRS a part of the taxable portion of each
distribution made under a contract unless you notify us in writing prior to the
distribution that tax is not to be withheld. In certain circumstances, Federal
income tax rules may require us to withhold tax. At the time a withdrawal,
surrender, or Annuity Payout is requested, we will give you an explanation of
the withholding requirements.

Certain payments from your contract may be considered eligible rollover
distributions (even if such payments are not being rolled over). Such
distributions may be subject to special tax withholding requirements. The
Federal income tax withholding rules require that we withhold 20% of the
eligible rollover distribution from the payment amount, unless you elect to
have the amount directly transferred to certain qualified plans or contracts.
The IRS requires that tax be withheld, even if you have requested otherwise.
Such tax withholding requirements are generally applicable to 401(a), 403(a) or
(b), HR 10, and 457(b) governmental plans and contracts used in connection with
these types of plans.

Our Tax Status

Under the Code, we are not required to pay tax on investment income and
realized capital gains of the VAA. We do not expect that we will incur any
Federal income tax liability on the income and gains earned by the VAA.
However, the Company does expect, to the extent permitted under the Code, to
claim the benefit of the foreign tax credit as the owner of the assets of the
VAA. Therefore, we do not impose a charge for Federal income taxes. If there
are any changes in the Code that require us to pay tax on some or all of the
income and gains earned by the VAA, we may impose a charge against the VAA to
pay the taxes.

Changes in the Law

The above discussion is based on the Code, IRS regulations, and interpretations
existing on the date of this prospectus. However, Congress, the IRS, and the
courts may modify these authorities, sometimes retroactively.

Additional Information

Voting Rights
As required by law, we will vote the fund shares held in the VAA at meetings of
the shareholders of the funds. The voting will be done according to the
instructions of Contractowners who have interests in any Subaccounts which
invest in classes of the funds. If the 1940 Act or any regulation under it
should be amended or if present interpretations should change, and if as a
result we determine that we are permitted to vote the fund shares in our own
right, we may elect to do so.

The number of votes which you have the right to cast will be determined by
applying your percentage interest in a Subaccount to the total number of votes
attributable to the Subaccount. In determining the number of votes, fractional
shares will be recognized.

Each underlying fund is subject to the laws of the state in which it is
organized concerning, among other things, the matters which are subject to a
shareholder vote, the number of shares which must be present in person or by
proxy at a meeting of shareholders (a "quorum"), and the percentage of such
shares present in person or by proxy which must vote in favor of matters
presented. Because shares of the underlying fund held in the VAA are owned by
us, and because under the 1940 Act we will vote all such shares in the same
proportion as the voting instructions which we receive, it is important that
each Contractowner provide their voting instructions to us. For funds
un-affiliated with Lincoln, even though Contractowners may choose not to
provide voting instruction, the shares of a fund to which such Contractowners
would have been entitled to provide voting instruction will be voted by us in
the same proportion as the voting instruction which we actually receive. For
funds affiliated with Lincoln, shares of a fund to which such Contractowners

145
<PAGE>

would have been entitled to provide voting instruction will, once we receive a
sufficient number of instructions we deem appropriate to ensure a fair
representation of Contractowners eligible to vote, be voted by us in the same
proportion as the voting instruction which we actually receive. As a result,
the instruction of a small number of Contractowners could determine the outcome
of matters subject to shareholder vote. All shares voted by us will be counted
when the underlying fund determines whether any requirement for a minimum
number of shares be present at such a meeting to satisfy a quorum requirement
has been met. Voting instructions to abstain on any item to be voted on will be
applied proportionately to reduce the number of votes eligible to be cast.

Whenever a shareholders meeting is called, we will provide or make available to
each person having a voting interest in a Subaccount proxy voting material,
reports and other materials relating to the funds. Since the funds engage in
shared funding, other persons or entities besides Lincoln Life may vote fund
shares. See Investments of the Variable Annuity Account - Fund Shares.

Return Privilege

Within the free-look period after you receive the contract, you may cancel it
for any reason by delivering or mailing it postage prepaid, to The Lincoln
National Life Insurance Company at PO Box 2348, Fort Wayne, IN 46801-2348. A
contract canceled under this provision will be void. Except as explained in the
following paragraph, we will return the Contract Value as of the Valuation Date
on which we receive the cancellation request, plus any premium taxes which had
been deducted. No Interest Adjustment will apply. A purchaser who participates
in the VAA is subject to the risk of a market loss on the Contract Value during
the free-look period.

For contracts written in those states whose laws require that we assume this
market risk during the free-look period, a contract may be canceled, subject to
the conditions explained before, except that we will return the greater of the
Gross Purchase Payment(s) or Contract Value as of the Valuation Date we
receive, the cancellation request, plus any premium taxes that had been
deducted. IRA purchasers will also receive the greater of Gross Purchase
Payments or Contract Value as of the Valuation Date.

State Regulation

As a life insurance company organized and operated under Indiana law, we are
subject to provisions governing life insurers and to regulation by the Indiana
Commissioner of Insurance. Our books and accounts are subject to review and
examination by the Indiana Department of Insurance at all times. A full
examination of our operations is conducted by that Department at least every
five years.

Records and Reports

As presently required by the 1940 Act and applicable regulations, we are
responsible for maintaining all records and accounts relating to the VAA. We
have entered into an agreement with The Bank of New York Mellon, One Mellon
Bank Center, 500 Grant Street, Pittsburgh, Pennsylvania, 15258, to provide
accounting services to the VAA. We will mail to you, at your last known address
of record at the Home Office, at least semi-annually after the first Contract
Year, reports containing information required by that Act or any other
applicable law or regulation.

A written (or electronic, if elected) confirmation of each transaction will be
provided to you on the next Valuation Date, except for the following
transactions, which are mailed quarterly:
o deduction of any account fee or rider charges;
o any rebalancing event under Asset Allocation Models, Investment Requirements
or the portfolio rebalancing service;
o any transfer or withdrawal under any applicable additional service: dollar
cost averaging, AWS, or the cross-reinvestment service; and
o Regular Income Payments from i4LIFE (Reg. TM) Advantage.

Cyber Security

We rely heavily on interconnected computer systems and digital data to conduct
our variable products business. Because our business is highly dependent upon
the effective operation of our computer systems and those of our business
partners, our business is vulnerable to disruptions from utility outages, and
susceptible to operational and information security risks resulting from
information systems failure (e.g., hardware and software malfunctions), and
cyber-attacks. These risks include, among other things, the theft, misuse,
corruption and destruction of data maintained online or digitally, interference
with or denial of service, attacks on websites and other operational disruption
and unauthorized release of confidential customer information. Such systems
failures and cyber-attacks affecting us, any third-party administrator, the
underlying funds, intermediaries and other affiliated or third-party service
providers may adversely affect us and your Contract Value. For instance,
systems failures and cyber-attacks may interfere with our processing of
contract transactions, including the processing of orders from our website or
with the underlying funds, impact our ability to calculate Accumulation Unit
value, cause the release and possible destruction of confidential customer or
business information, impede order processing, subject us and/or our service
providers and intermediaries to regulatory fines and financial losses and/or
cause reputational damage. Cyber security risks may also impact the issuers of
securities in which the underlying funds invest, which may cause the funds
underlying your contract to lose value. There can be no assurance that we or
the underlying funds or our service providers will avoid losses affecting your
contract due to cyber-attacks or information security breaches in the future.

146
<PAGE>

Other Information

You may elect to receive your prospectus, prospectus supplements, quarterly
statements, and annual and semiannual reports electronically over the Internet,
if you have an e-mail account and access to an Internet browser. Once you
select eDelivery, via the Internet Service Center, all documents available in
electronic format will no longer be sent to you in hard copy. You will receive
an e-mail notification when the documents become available online. It is your
responsibility to provide us with your current e-mail address. You can resume
paper mailings at any time without cost, by updating your profile at the
Internet Service Center, or contacting us. To learn more about this service,
please log on to www.LincolnFinancial.com, select service centers and continue
on through the Internet Service Center.

Special Arrangements

At times, we may offer variations of the contracts described in this prospectus
to existing owners as part of an exchange program. Contracts purchased through
this exchange offer may impose different fees and expenses and provide certain
additional benefits from those described in this prospectus.

Legal Proceedings
In the ordinary course of its business and otherwise, the Company and its
subsidiaries or its separate accounts and Principal Underwriter may become or
are involved in various pending or threatened legal proceedings, including
purported class actions, arising from the conduct of its business. In some
instances, the proceedings include claims for unspecified or substantial
punitive damages and similar types of relief in addition to amounts for alleged
contractual liability or requests for equitable relief.

After consultation with legal counsel and a review of available facts, it is
management's opinion that the proceedings, after consideration of any reserves
and rights to indemnification, ultimately will be resolved without materially
affecting the consolidated financial position of the Company and its
subsidiaries, or the financial position of its separate accounts or Principal
Underwriter. However, given the large and indeterminate amounts sought in
certain of these proceedings and the inherent difficulty in predicting the
outcome of such legal proceedings, it is reasonably possible that an adverse
outcome in certain matters could be material to the Company's operating results
for any particular reporting period. Please refer to the Statement of
Additional Information for possible additional information regarding legal
proceedings.

147
<PAGE>

Contents of the Statement of Additional Information (SAI) for Lincoln Life
Variable Annuity Account N

Item

Special Terms
Services
Principal Underwriter
Purchase of Securities Being Offered
Interest Adjustment Example
Annuity Payouts
Examples of Regular Income Payment Calculations
Determination of Accumulation and Annuity Unit Value
Capital Markets
Advertising & Ratings
About the S&P 500 Index
Unclaimed Property
Additional Services
Other Information
Financial Statements

For a free copy of the SAI complete the form below:

Statement of Additional Information Request Card
Lincoln ChoicePlus AssuranceSM (A Share)
Lincoln Life Variable Annuity Account N

............................................................................................
Please send me a free copy of the current Statement of Additional Information for Lincoln
Life Variable Annuity Account N Lincoln
ChoicePlus AssuranceSM (A Share).

(Please Print)

Name: -------------------------------------------------------------------------

Address: ----------------------------------------------------------------------

City --------------------------------------------------- State ---------
Zip ---------

Mail to The Lincoln National Life Insurance Company, PO Box 2348, Fort Wayne,
IN 46801-2348.

148
<PAGE>

(This page intentionally left blank)

149
<PAGE>

Appendix A - Condensed Financial Information

Accumulation Unit Values
The following information relates to Accumulation Unit values and Accumulation
Units for contracts purchased prior to November 15, 2010 and fee-based
contracts purchased prior to June 30, 2010 for funds in the periods ended
December 31. It should be read along with the VAA's financial statement and
notes which are included in the SAI.**

with EEB with EGMDB
---------------------------------- ----------------------------------
Accumulation Unit Accumulation Unit
value value
-------------------- Number of -------------------- Number of
Beginning End of Accumulation Beginning End of Accumulation
of period period Units of period period Units
----------- -------- ------------- ----------- -------- -------------
(Accumulation Unit value in dollars and Number of Accumulation Units
in thousands)

AB VPS Global Thematic Growth
2008...... N/A N/A N/A N/A N/A N/A
2009...... N/A N/A N/A 6.907 9.378 1*
2010...... N/A N/A N/A 9.378 11.021 9
2011...... N/A N/A N/A 11.021 8.366 11
2012...... N/A N/A N/A 8.366 9.389 10
2013...... N/A N/A N/A 9.389 11.438 10
2014...... N/A N/A N/A 11.438 11.880 11
2015...... N/A N/A N/A 11.880 12.085 10
2016...... N/A N/A N/A 12.085 11.872 10
---------- -- --- --- ------ ------ ----
AB VPS Growth and Income(1)
2008...... 10.525 6.743 4 9.749 6.262 114
2009...... 6.743 8.026 5 6.262 7.469 263
2010...... 8.026 8.954 5 7.469 8.349 329
2011...... 8.954 9.394 5 8.349 8.777 352
2012...... 9.394 10.894 5 8.777 10.198 338
2013...... 10.894 12.758 4 10.198 11.953 314
---------- ------ ------ --- ------ ------ ----
AB VPS International Value(2)
2008...... 10.519 5.447 13 10.855 5.190 361
2009...... 5.447 7.238 28 5.190 6.911 1,398
2010...... 7.238 7.467 46 6.911 7.143 2,978
2011...... 7.467 5.949 51 7.143 5.703 3,501
2012...... 5.949 6.720 47 5.703 6.454 3,357
2013...... 6.720 7.410 44 6.454 7.122 3,144
---------- ------ ------ --- ------ ------ -----
AB VPS Small/Mid Cap Value
2008...... 10.387 7.015 5 9.407 6.454 151
2009...... 7.015 9.897 6 6.454 9.125 233
2010...... 9.897 12.392 6 9.125 11.448 264
2011...... 12.392 11.200 6 11.448 10.367 262
2012...... 11.200 13.123 5 10.367 12.172 233
2013...... 13.123 17.864 4 12.172 16.603 211
2014...... 17.864 19.250 4 16.603 17.926 190
2015...... 19.250 17.955 3 17.926 16.754 168
2016...... 17.955 22.161 3 16.754 20.720 145
---------- ------ ------ --- ------ ------ -----
American Century VP Balanced
2016...... N/A N/A N/A 10.261 10.437 3
---------- ------ ------ --- ------ ------ -----
American Century VP Inflation Protection(3)
2008...... 10.859 10.494 1* 11.078 10.513 37
2009...... 10.494 11.441 2 10.513 11.486 143
2010...... 11.441 11.893 1* 11.486 11.963 387
2011...... 11.893 13.145 3 11.963 13.248 375
2012...... 13.145 13.961 3 13.248 14.100 362
2013...... 13.961 13.687 3 14.100 13.833 374
---------- ------ ------ --- ------ ------ -----
American Funds Global Growth
2008...... 11.558 7.610 31 11.715 7.174 377
2009...... 7.610 10.711 32 7.174 10.117 631
2010...... 10.711 11.838 32 10.117 11.204 1,050
2011...... 11.838 10.668 28 11.204 10.117 1,008
2012...... 10.668 12.932 27 10.117 12.288 881
2013...... 12.932 16.523 28 12.288 15.732 761
2014...... 16.523 16.720 26 15.732 15.951 695
2015...... 16.720 17.684 26 15.951 16.905 622
2016...... 17.684 17.599 26 16.905 16.858 584
---------- ------ ------ --- ------ ------ -----

with GOP Acct Value DB
---------------------------------- ----------------------------------
Accumulation Unit Accumulation Unit
value value
-------------------- Number of -------------------- Number of
Beginning End of Accumulation Beginning End of Accumulation
of period period Units of period period Units
----------- -------- ------------- ----------- -------- -------------
(Accumulation Unit value in dollars and Number of Accumulation Units
in thousands)

AB VPS Global Thematic Growth
2008...... 9.815 6.199 6 9.857 6.211 1*
2009...... 6.199 9.422 14 6.211 9.449 1*
2010...... 9.422 11.089 37 9.449 11.132 1*
2011...... 11.089 8.430 38 11.132 8.471 1*
2012...... 8.430 9.475 35 8.471 9.530 1*
2013...... 9.475 11.560 34 9.530 11.639 1*
2014...... 11.560 12.025 28 11.639 12.120 1*
2015...... 12.025 12.251 31 12.120 12.360 1*
2016...... 12.251 12.053 27 12.360 12.172 1*
----------- ------ ------ -- ------ ------ -
AB VPS Growth and Income(1)
2008...... 10.336 6.282 398 9.230 6.295 28
2009...... 6.282 7.504 1051 6.295 7.527 29
2010...... 7.504 8.401 1330 7.527 8.436 27
2011...... 8.401 8.844 1,190 8.436 8.890 26
2012...... 8.844 10.292 1,091 8.890 10.355 23
2013...... 10.292 12.070 1,007 10.355 12.148 33
----------- ------ ------ ----- ------ ------ --
AB VPS International Value(2)
2008...... 10.712 5.206 1234 10.886 5.218 100
2009...... 5.206 6.943 4196 5.218 6.965 147
2010...... 6.943 7.187 8615 6.965 7.217 200
2011...... 7.187 5.747 10,124 7.217 5.777 221
2012...... 5.747 6.514 9,575 5.777 6.554 208
2013...... 6.514 7.192 8,893 6.554 7.239 203
----------- ------ ------ ------ ------ ------ ---
AB VPS Small/Mid Cap Value
2008...... 9.483 6.475 524 9.434 6.489 52
2009...... 6.475 9.168 945 6.489 9.197 72
2010...... 9.168 11.519 996 9.197 11.567 57
2011...... 11.519 10.447 930 11.567 10.501 57
2012...... 10.447 12.284 819 10.501 12.360 48
2013...... 12.284 16.781 679 12.360 16.901 49
2014...... 16.781 18.145 566 16.901 18.294 34
2015...... 18.145 16.984 498 18.294 17.140 30
2016...... 16.984 21.037 427 17.140 21.251 26
----------- ------ ------ ------ ------ ------ ---
American Century VP Balanced
2016...... 10.056 10.447 13 N/A N/A N/A
----------- ------ ------ ------ ------ ------ ---
American Century VP Inflation Protection(3)
2008...... 11.098 10.547 80 11.112 10.569 7
2009...... 10.547 11.540 520 10.569 11.576 35
2010...... 11.540 12.037 1,007 11.576 12.087 68
2011...... 12.037 13.351 964 12.087 13.419 42
2012...... 13.351 14.230 918 13.419 14.317 41
2013...... 14.230 13.968 914 14.317 14.059 42
----------- ------ ------ ------ ------ ------ ---
American Funds Global Growth
2008...... 11.470 7.196 938 10.775 7.212 65
2009...... 7.196 10.164 1,486 7.212 10.196 82
2010...... 10.164 11.273 2,057 10.196 11.320 85
2011...... 11.273 10.195 2,032 11.320 10.247 69
2012...... 10.195 12.402 1,824 10.247 12.478 62
2013...... 12.402 15.900 1,598 12.478 16.014 58
2014...... 15.900 16.147 1413 16.014 16.278 54
2015...... 16.147 17.138 1177 16.278 17.295 61
2016...... 17.138 17.115 1097 17.295 17.289 56
----------- ------ ------ ------ ------ ------ ---

A-1
<PAGE>

American Funds Global Small Capitalization
2008...... 12.084 6.293 13 12.462 5.760 409
2009...... 6.293 10.040 23 5.760 9.207 1,281
2010...... 10.040 12.156 30 9.207 11.169 2,385
2011...... 12.156 9.721 33 11.169 8.950 2,818
2012...... 9.721 11.363 31 8.950 10.482 2,632
2013...... 11.363 14.416 25 10.482 13.326 2,278
2014...... 14.416 14.561 24 13.326 13.487 2167
2015...... 14.561 14.440 21 13.487 13.402 1991
2016...... 14.440 14.582 20 13.402 13.560 1888
---------- ------ ------ -- ------ ------ -----
American Funds Growth
2008...... 10.771 6.595 50 10.800 6.224 841
2009...... 6.595 9.093 54 6.224 8.599 1,961
2010...... 9.093 10.674 60 8.599 10.114 2,632
2011...... 10.674 10.106 55 10.114 9.595 2,492
2012...... 10.106 11.784 53 9.595 11.210 2,235
2013...... 11.784 15.163 50 11.210 14.454 1,989
2014...... 15.163 16.273 43 14.454 15.543 1845
2015...... 16.273 17.199 42 15.543 16.460 1649
2016...... 17.199 18.625 40 16.460 17.860 1502
---------- ------ ------ -- ------ ------ -----
American Funds Growth-Income
2008...... 10.165 6.955 103 10.334 6.442 2,273
2009...... 6.955 9.028 132 6.442 8.378 5,703
2010...... 9.028 9.950 159 8.378 9.252 8,430
2011...... 9.950 9.661 156 9.252 9.001 8,435
2012...... 9.661 11.226 147 9.001 10.480 7,712
2013...... 11.226 14.822 131 10.480 13.866 6,748
2014...... 14.822 16.219 118 13.866 15.203 5979
2015...... 16.219 16.275 107 15.203 15.286 5481
2016...... 16.275 17.952 97 15.286 16.894 4929
---------- ------ ------ --- ------ ------ -----
American Funds International
2008...... 11.394 7.288 26 12.176 7.132 446
2009...... 7.288 10.314 27 7.132 10.113 668
2010...... 10.314 10.939 28 10.113 10.747 1,041
2011...... 10.939 9.308 26 10.747 9.163 1,134
2012...... 9.308 10.855 31 9.163 10.707 1,105
2013...... 10.855 13.059 30 10.707 12.907 1,084
2014...... 13.059 12.573 29 12.907 12.452 1073
2015...... 12.573 11.873 29 12.452 11.782 1035
2016...... 11.873 12.158 26 11.782 12.089 972
---------- ------ ------ --- ------ ------ -----
BlackRock Global Allocation V.I.
2009...... N/A N/A N/A 10.761 11.623 50
2010...... 11.609 12.602 1* 11.623 12.643 308
2011...... 12.602 12.011 1* 12.643 12.074 400
2012...... 12.011 13.063 1* 12.074 13.158 409
2013...... 13.063 14.783 1* 13.158 14.920 385
2014...... 14.783 14.904 1* 14.920 15.073 338
2015...... 14.904 14.593 1* 15.073 14.788 315
2016...... 14.593 14.983 1* 14.788 15.213 285
---------- ------ ------ --- ------ ------ -----
ClearBridge Variable Mid Cap
2014...... N/A N/A N/A 10.342 10.590 2
2015...... N/A N/A N/A 10.590 10.704 1*
2016...... N/A N/A N/A 10.704 11.574 1*
---------- ------ ------ --- ------ ------ -----

American Funds Global Small Capitalization
2008...... 12.123 5.778 1,153 12.010 5.790 81
2009...... 5.778 9.250 3,592 5.790 9.279 126
2010...... 9.250 11.239 6,389 9.279 11.285 177
2011...... 11.239 9.019 7,638 11.285 9.066 197
2012...... 9.019 10.579 6,967 9.066 10.644 181
2013...... 10.579 13.469 5,912 10.644 13.566 156
2014...... 13.469 13.652 5321 13.566 13.764 151
2015...... 13.652 13.586 4629 13.764 13.711 138
2016...... 13.586 13.768 4336 13.711 13.908 128
----------- ------ ------ ----- ------ ------ ---
American Funds Growth
2008...... 10.697 6.244 2,516 10.236 6.257 175
2009...... 6.244 8.639 6,476 6.257 8.666 238
2010...... 8.639 10.177 8,411 8.666 10.219 274
2011...... 10.177 9.669 7,958 10.219 9.718 240
2012...... 9.669 11.313 7,158 9.718 11.383 203
2013...... 11.313 14.609 6,056 11.383 14.713 189
2014...... 14.609 15.733 5193 14.713 15.862 152
2015...... 15.733 16.687 4250 15.862 16.840 152
2016...... 16.687 18.133 3793 16.840 18.318 123
----------- ------ ------ ----- ------ ------ ---
American Funds Growth-Income
2008...... 9.958 6.462 5,983 10.149 6.476 481
2009...... 6.462 8.417 16,766 6.476 8.444 718
2010...... 8.417 9.309 24,792 8.444 9.347 843
2011...... 9.309 9.070 24,582 9.347 9.117 810
2012...... 9.070 10.576 22,232 9.117 10.641 691
2013...... 10.576 14.014 18,791 10.641 14.114 611
2014...... 14.014 15.389 15445 14.114 15.514 555
2015...... 15.389 15.496 13179 15.514 15.638 524
2016...... 15.496 17.152 11601 15.638 17.326 454
----------- ------ ------ ------ ------ ------ ---
American Funds International
2008...... 12.196 7.155 938 11.130 7.170 96
2009...... 7.155 10.160 1,482 7.170 10.192 113
2010...... 10.160 10.814 2,339 10.192 10.858 134
2011...... 10.814 9.234 2,770 10.858 9.281 152
2012...... 9.234 10.806 2,819 9.281 10.872 138
2013...... 10.806 13.046 2,926 10.872 13.139 141
2014...... 13.046 12.605 2806 13.139 12.707 152
2015...... 12.605 11.944 2598 12.707 12.054 155
2016...... 11.944 12.274 2471 12.054 12.399 143
----------- ------ ------ ------ ------ ------ ---
BlackRock Global Allocation V.I.
2009...... 10.708 11.634 166 10.442 11.641 10
2010...... 11.634 12.674 955 11.641 12.694 26
2011...... 12.674 12.121 1,279 12.694 12.153 19
2012...... 12.121 13.230 1,240 12.153 13.278 33
2013...... 13.230 15.024 1,162 13.278 15.093 36
2014...... 15.024 15.200 1039 15.093 15.285 32
2015...... 15.200 14.935 966 15.285 15.034 28
2016...... 14.935 15.388 901 15.034 15.505 19
----------- ------ ------ ------ ------ ------ ---
ClearBridge Variable Mid Cap
2014...... 10.000 10.600 1* N/A N/A N/A
2015...... 10.600 10.729 1* N/A N/A N/A
2016...... 10.729 11.620 4 N/A N/A N/A
----------- ------ ------ ------ ------ ------ ---

A-2
<PAGE>

Delaware VIP Diversified Income
2008...... 10.987 10.344 3 10.867 10.127 50
2009...... 10.344 12.959 5 10.127 12.712 695
2010...... 12.959 13.825 15 12.712 13.589 1,909
2011...... 13.825 14.515 15 13.589 14.296 1,987
2012...... 14.515 15.344 14 14.296 15.142 1,970
2013...... 15.344 14.960 15 15.142 14.793 2,088
2014...... 14.960 15.534 14 14.793 15.391 1993
2015...... 15.534 15.158 14 15.391 15.049 1895
2016...... 15.158 15.484 13 15.049 15.404 1852
---------- ------ ------ -- ------ ------ -----
Delaware VIP Emerging Markets
2008...... 11.212 5.754 1* 10.734 5.773 48
2009...... 5.754 10.111 1* 5.773 10.165 61
2010...... 10.111 11.821 3 10.165 11.909 207
2011...... 11.821 9.353 3 11.909 9.441 262
2012...... 9.353 10.564 3 9.441 10.684 228
2013...... 10.564 11.478 2 10.684 11.632 212
2014...... 11.478 10.414 2 11.632 10.576 212
2015...... 10.414 8.778 3 10.576 8.932 218
2016...... 8.778 9.870 1* 8.932 10.063 193
---------- ------ ------ -- ------ ------ -----
Delaware VIP High Yield
2008...... 10.421 8.017 2 9.988 7.741 25
2009...... 8.017 11.787 2 7.741 11.405 74
2010...... 11.787 13.397 1* 11.405 12.988 110
2011...... 13.397 13.559 1* 12.988 13.171 110
2012...... 13.559 15.738 1* 13.171 15.319 108
2013...... 15.738 16.963 1* 15.319 16.544 107
2014...... 16.963 16.688 1* 16.544 16.308 97
2015...... 16.688 15.371 2 16.308 15.051 90
2016...... 15.371 17.165 2 15.051 16.842 82
---------- ------ ------ -- ------ ------ -----
Delaware VIP Limited-Term Diversified Income
2008...... 10.523 10.273 12 10.403 10.210 445
2009...... 10.273 11.440 35 10.210 11.392 2,362
2010...... 11.440 11.801 64 11.392 11.775 5,484
2011...... 11.801 11.970 63 11.775 11.966 5,763
2012...... 11.970 12.138 65 11.966 12.160 5,829
2013...... 12.138 11.846 66 12.160 11.891 6,254
2014...... 11.846 11.885 64 11.891 11.955 6122
2015...... 11.885 11.829 59 11.955 11.922 5791
2016...... 11.829 11.903 57 11.922 12.020 5535
---------- ------ ------ -- ------ ------ -----
Delaware VIP REIT
2008...... N/A N/A N/A N/A N/A N/A
2009...... N/A N/A N/A 5.800 6.744 6
2010...... 7.560 9.467 1* 6.744 8.462 34
2011...... 9.467 10.358 5 8.462 9.277 47
2012...... 10.358 11.946 5 9.277 10.721 37
2013...... 11.946 12.042 5 10.721 10.829 45
2014...... 12.042 15.379 5 10.829 13.857 38
2015...... 15.379 15.747 5 13.857 14.217 35
2016...... 15.747 16.449 5 14.217 14.881 33
---------- ------ ------ --- ------ ------ -----
Delaware VIP Small Cap Value
2008...... N/A N/A N/A 10.155 6.904 5
2009...... N/A N/A N/A 6.904 9.002 25
2010...... 8.974 11.709 2 9.002 11.769 141
2011...... 11.709 11.397 2 11.769 11.478 147
2012...... 11.397 12.809 2 11.478 12.926 117
2013...... 12.809 16.871 2 12.926 17.059 100
2014...... 16.871 17.624 2 17.059 17.856 98
2015...... 17.624 16.305 2 17.856 16.552 91
2016...... 16.305 21.140 1* 16.552 21.503 78
---------- ------ ------ --- ------ ------ -----

Delaware VIP Diversified Income
2008...... 10.916 10.159 292 10.882 10.180 49
2009...... 10.159 12.770 2,247 10.180 12.810 101
2010...... 12.770 13.672 5,459 12.810 13.728 159
2011...... 13.672 14.405 5,749 13.728 14.479 164
2012...... 14.405 15.280 5,714 14.479 15.374 172
2013...... 15.280 14.951 5,866 15.374 15.057 160
2014...... 14.951 15.578 5219 15.057 15.705 181
2015...... 15.578 15.255 4763 15.705 15.394 172
2016...... 15.255 15.638 4434 15.394 15.797 180
----------- ------ ------ ----- ------ ------ ---
Delaware VIP Emerging Markets
2008...... 11.934 5.787 106 10.866 5.796 15
2009...... 5.787 10.205 175 5.796 10.232 16
2010...... 10.205 11.973 594 10.232 12.017 34
2011...... 11.973 9.507 733 12.017 9.551 40
2012...... 9.507 10.775 694 9.551 10.835 40
2013...... 10.775 11.748 652 10.835 11.826 42
2014...... 11.748 10.697 639 11.826 10.779 35
2015...... 10.697 9.048 664 10.779 9.127 27
2016...... 9.048 10.209 590 9.127 10.308 28
----------- ------ ------ ----- ------ ------ ---
Delaware VIP High Yield
2008...... 9.979 7.766 152 10.464 7.782 11
2009...... 7.766 11.458 229 7.782 11.494 18
2010...... 11.458 13.068 296 11.494 13.122 17
2011...... 13.068 13.273 292 13.122 13.341 14
2012...... 13.273 15.460 260 13.341 15.554 22
2013...... 15.460 16.722 271 15.554 16.841 22
2014...... 16.722 16.508 219 16.841 16.642 20
2015...... 16.508 15.258 190 16.642 15.398 25
2016...... 15.258 17.100 167 15.398 17.273 21
----------- ------ ------ ----- ------ ------ ---
Delaware VIP Limited-Term Diversified Income
2008...... 10.448 10.242 1,412 10.488 10.264 106
2009...... 10.242 11.445 6,643 10.264 11.481 284
2010...... 11.445 11.848 15,308 11.481 11.896 347
2011...... 11.848 12.060 16,300 11.896 12.121 341
2012...... 12.060 12.272 16,485 12.121 12.347 361
2013...... 12.272 12.018 17,558 12.347 12.104 367
2014...... 12.018 12.101 16044 12.104 12.199 376
2015...... 12.101 12.086 14344 12.199 12.196 328
2016...... 12.086 12.204 13386 12.196 12.327 324
----------- ------ ------ ------ ------ ------ ---
Delaware VIP REIT
2008...... N/A N/A N/A N/A N/A N/A
2009...... 5.823 6.776 15 6.245 6.797 1*
2010...... 6.776 8.515 75 6.797 8.550 1*
2011...... 8.515 9.348 100 8.550 9.397 2
2012...... 9.348 10.820 104 9.397 10.887 2
2013...... 10.820 10.945 124 10.887 11.024 2
2014...... 10.945 14.027 93 11.024 14.142 5
2015...... 14.027 14.413 78 14.142 14.545 1*
2016...... 14.413 15.108 74 14.545 15.262 1*
----------- ------ ------ ------ ------ ------ ---
Delaware VIP Small Cap Value
2008...... 9.321 6.909 24 9.217 6.913 1*
2009...... 6.909 9.022 150 6.913 9.037 1*
2010...... 9.022 11.813 434 9.037 11.844 4
2011...... 11.813 11.538 468 11.844 11.580 5
2012...... 11.538 13.014 421 11.580 13.073 5
2013...... 13.014 17.201 359 13.073 17.297 4
2014...... 17.201 18.031 322 17.297 18.150 3
2015...... 18.031 16.740 279 18.150 16.867 3
2016...... 16.740 21.780 240 16.867 21.968 4
----------- ------ ------ ------ ------ ------ ---

A-3
<PAGE>

Delaware VIP Smid Cap Growth(4)
2008...... N/A N/A N/A 9.410 5.618 5
2009...... N/A N/A N/A 5.618 8.594 3
2010...... N/A N/A N/A 10.275 11.642 11
2011...... N/A N/A N/A 11.642 12.450 24
2012...... 15.416 15.501 1* 12.450 13.660 28
2013...... N/A N/A N/A 13.660 19.084 29
2014...... N/A N/A N/A 19.084 19.456 23
2015...... 23.335 23.340 1* 19.456 20.691 23
2016...... 23.340 24.935 1* 20.691 22.149 24
---------- ------ ------ --- ------ ------ --
Delaware VIP U.S. Growth
2008...... 10.366 6.845 2 8.852 6.300 50
2009...... 6.845 9.677 6 6.300 8.925 684
2010...... 9.677 10.867 20 8.925 10.043 1,889
2011...... 10.867 11.555 20 10.043 10.700 1,987
2012...... 11.555 13.251 18 10.700 12.296 1,810
2013...... 13.251 17.621 15 12.296 16.383 1,586
2014...... 17.621 19.604 13 16.383 18.263 1396
2015...... 19.604 20.374 12 18.263 19.019 1246
2016...... 20.374 19.044 12 19.019 17.813 1229
---------- ------ ------ --- ------ ------ -----
Delaware VIP Value
2008...... N/A N/A N/A 9.134 6.487 7
2009...... N/A N/A N/A 6.487 7.563 19
2010...... N/A N/A N/A 7.563 8.644 21
2011...... N/A N/A N/A 8.644 9.360 39
2012...... N/A N/A N/A 9.360 10.615 34
2013...... N/A N/A N/A 10.615 14.031 37
2014...... N/A N/A N/A 14.031 15.811 38
2015...... 16.558 16.661 1* 15.811 15.569 36
2016...... 16.661 18.839 1* 15.569 17.639 42
---------- ------ ------ --- ------ ------ -----
Deutsche Alternative Asset Allocation VIP
2009...... N/A N/A N/A N/A N/A N/A
2010...... N/A N/A N/A 11.536 12.821 3
2011...... N/A N/A N/A 12.821 12.311 10
2012...... N/A N/A N/A 12.311 13.343 7
2013...... N/A N/A N/A 13.343 13.322 5
2014...... N/A N/A N/A 13.322 13.630 1*
2015...... 12.946 12.459 1* 13.630 12.625 4
2016...... 12.459 12.937 1* 12.625 13.136 4
---------- ------ ------ --- ------ ------ -----
Fidelity VIP Contrafund
2008...... 10.792 7.047 16 11.558 6.635 625
2009...... 7.047 9.442 18 6.635 8.908 1,051
2010...... 9.442 10.919 22 8.908 10.322 1,438
2011...... 10.919 10.499 22 10.322 9.945 1,420
2012...... 10.499 12.060 25 9.945 11.447 1,291
2013...... 12.060 15.621 23 11.447 14.856 1,155
2014...... 15.621 17.250 22 14.856 16.438 1027
2015...... 17.250 17.132 17 16.438 16.359 943
2016...... 17.132 18.255 17 16.359 17.466 877
---------- ------ ------ --- ------ ------ -----
Fidelity VIP Growth
2008...... N/A N/A N/A 10.813 6.471 8
2009...... N/A N/A N/A 6.471 8.207 15
2010...... 8.778 10.754 1* 8.207 10.074 21
2011...... 10.754 10.632 1* 10.074 9.981 24
2012...... 10.632 12.031 1* 9.981 11.316 21
2013...... 12.031 16.183 1* 11.316 15.252 20
2014...... 16.183 17.769 1* 15.252 16.780 20
2015...... 17.769 18.788 1* 16.780 17.778 19
2016...... N/A N/A N/A 17.778 17.715 12
---------- ------ ------ --- ------ ------ -----

Delaware VIP Smid Cap Growth(4)
2008...... 8.748 5.635 7 8.760 5.647 7
2009...... 5.635 8.634 9 5.647 8.662 7
2010...... 10.335 11.714 17 10.376 11.763 6
2011...... 11.714 12.545 37 11.763 12.610 8
2012...... 12.545 13.785 39 12.610 13.870 8
2013...... 13.785 19.288 39 13.870 19.427 7
2014...... 19.288 19.693 33 19.427 19.855 5
2015...... 19.693 20.975 33 19.855 21.168 2
2016...... 20.975 22.487 37 21.168 22.717 2
----------- ------ ------ -- ------ ------ -
Delaware VIP U.S. Growth
2008...... 8.874 6.320 208 10.341 6.334 10
2009...... 6.320 8.967 1,947 6.334 8.995 45
2010...... 8.967 10.105 5,324 8.995 10.147 105
2011...... 10.105 10.782 5,604 10.147 10.838 119
2012...... 10.782 12.409 5,015 10.838 12.485 106
2013...... 12.409 16.559 4,296 12.485 16.677 91
2014...... 16.559 18.487 3550 16.677 18.638 84
2015...... 18.487 19.281 3019 18.638 19.457 66
2016...... 19.281 18.085 2923 19.457 18.269 62
----------- ------ ------ ----- ------ ------ ---
Delaware VIP Value
2008...... 8.814 6.507 18 N/A N/A N/A
2009...... 6.507 7.599 55 N/A N/A N/A
2010...... 7.599 8.698 105 7.622 8.734 40
2011...... 8.698 9.432 142 8.734 9.480 15
2012...... 9.432 10.713 134 9.480 10.779 18
2013...... 10.713 14.182 129 10.779 14.283 22
2014...... 14.182 16.004 100 14.283 16.134 24
2015...... 16.004 15.783 110 16.134 15.927 22
2016...... 15.783 17.908 111 15.927 18.090 24
----------- ------ ------ ----- ------ ------ ---
Deutsche Alternative Asset Allocation VIP
2009...... N/A N/A N/A 11.341 11.554 1*
2010...... 11.547 12.853 7 11.554 12.874 2
2011...... 12.853 12.359 16 12.874 12.392 2
2012...... 12.359 13.416 22 12.392 13.464 2
2013...... 13.416 13.415 24 13.464 13.477 3
2014...... 13.415 13.746 26 13.477 13.823 3
2015...... 13.746 12.751 25 13.823 12.835 3
2016...... 12.751 13.287 21 12.835 13.388 3
----------- ------ ------ ----- ------ ------ ---
Fidelity VIP Contrafund
2008...... 11.142 6.656 2,136 11.298 6.670 215
2009...... 6.656 8.949 3,759 6.670 8.977 254
2010...... 8.949 10.386 4,862 8.977 10.429 243
2011...... 10.386 10.021 4,548 10.429 10.073 212
2012...... 10.021 11.552 4,083 10.073 11.623 198
2013...... 11.552 15.015 3,553 11.623 15.122 189
2014...... 15.015 16.639 2982 15.122 16.775 146
2015...... 16.639 16.584 2594 16.775 16.735 139
2016...... 16.584 17.732 2376 16.735 17.912 119
----------- ------ ------ ----- ------ ------ ---
Fidelity VIP Growth
2008...... 10.677 6.492 35 10.691 6.506 1*
2009...... 6.492 8.245 64 N/A N/A N/A
2010...... 8.245 10.137 84 8.269 10.176 6
2011...... 10.137 10.058 81 10.176 10.107 5
2012...... 10.058 11.420 76 10.107 11.488 8
2013...... 11.420 15.416 71 11.488 15.522 8
2014...... 15.416 16.985 66 15.522 17.120 3
2015...... 16.985 18.022 54 N/A N/A N/A
2016...... 18.022 17.986 46 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---

A-4
<PAGE>

Fidelity VIP Mid Cap
2008...... 11.269 7.186 4 11.522 6.925 98
2009...... 7.186 9.932 5 6.925 9.592 184
2010...... 9.932 12.630 6 9.592 12.222 436
2011...... 12.630 11.136 7 12.222 10.798 467
2012...... 11.136 12.619 7 10.798 12.259 426
2013...... 12.619 16.957 7 12.259 16.507 405
2014...... 16.957 17.783 5 16.507 17.346 367
2015...... 17.783 17.302 4 17.346 16.911 345
2016...... 17.302 19.154 4 16.911 18.758 311
---------- ------ ------ - ------ ------ ---
Fidelity VIP Overseas(5)
2008...... N/A N/A N/A 11.064 6.824 13
2009...... N/A N/A N/A 6.824 8.536 27
2010...... N/A N/A N/A 8.536 9.545 52
2011...... N/A N/A N/A 9.545 7.819 55
2012...... N/A N/A N/A 7.819 9.328 47
2013...... N/A N/A N/A 9.328 10.439 45
---------- ------ ------ --- ------ ------ ---
Franklin Income VIP
2008...... 10.356 7.659 18 10.447 7.309 633
2009...... 7.659 10.271 25 7.309 9.821 1,190
2010...... 10.271 11.446 26 9.821 10.967 1,531
2011...... 11.446 11.591 26 10.967 11.128 1,489
2012...... 11.591 12.914 26 11.128 12.423 1,388
2013...... 12.914 14.554 24 12.423 14.028 1,298
2014...... 14.554 15.059 20 14.028 14.544 1198
2015...... 15.059 13.844 16 14.544 13.397 1135
2016...... 13.844 15.612 14 13.397 15.139 1042
---------- ------ ------ --- ------ ------ -----
Franklin Mutual Shares VIP
2008...... 10.208 6.956 44 10.402 6.555 1,342
2009...... 6.956 8.672 89 6.555 8.189 3,964
2010...... 8.672 9.538 113 8.189 9.024 6,821
2011...... 9.538 9.335 112 9.024 8.850 7,071
2012...... 9.335 10.548 102 8.850 10.020 6,450
2013...... 10.548 13.381 90 10.020 12.736 5,679
2014...... 13.381 14.177 85 12.736 13.521 5147
2015...... 14.177 13.330 77 13.521 12.738 4915
2016...... 13.330 15.301 69 12.738 14.652 4357
---------- ------ ------ --- ------ ------ -----
FTVIPT Franklin Small-Mid Cap Growth Securities(6)
2008...... 10.428 6.742 1* 10.150 6.206 61
2009...... 6.742 9.573 1* 6.206 8.831 130
2010...... 9.573 12.084 1* 8.831 11.169 179
2011...... 12.084 11.374 1* 11.169 10.534 174
2012...... 11.374 12.471 1* 10.534 11.573 162
2013...... 12.471 14.562 1* 11.573 13.524 153
---------- ------ ------ --- ------ ------ -----
Invesco V.I. International Growth
2014...... N/A N/A N/A 10.226 9.656 1*
2015...... N/A N/A N/A 9.656 9.319 2
2016...... N/A N/A N/A 9.319 9.171 4
---------- ------ ------ --- ------ ------ -----
JPMorgan Insurance Trust Global Allocation
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ -----
LVIP American Century Select Mid Cap Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A 11.265 12.453 1*
---------- ------ ------ --- ------ ------ -----

Fidelity VIP Mid Cap
2008...... 11.167 6.947 205 10.576 6.962 44
2009...... 6.947 9.637 481 6.962 9.667 62
2010...... 9.637 12.297 1,006 9.667 12.348 72
2011...... 12.297 10.881 1,107 12.348 10.937 63
2012...... 10.881 12.372 1,011 10.937 12.448 54
2013...... 12.372 16.685 898 12.448 16.804 49
2014...... 16.685 17.559 808 16.804 17.702 40
2015...... 17.559 17.144 710 17.702 17.301 38
2016...... 17.144 19.044 651 17.301 19.238 32
----------- ------ ------ ----- ------ ------ --
Fidelity VIP Overseas(5)
2008...... 11.086 6.846 43 11.100 6.860 5
2009...... 6.846 8.576 64 6.860 8.603 4
2010...... 8.576 9.604 100 8.603 9.643 4
2011...... 9.604 7.879 106 9.643 7.920 1*
2012...... 7.879 9.414 77 7.920 9.472 1*
2013...... 9.414 10.541 69 9.472 10.610 1*
----------- ------ ------ ----- ------ ------ --
Franklin Income VIP
2008...... 10.329 7.332 1,986 10.371 7.347 162
2009...... 7.332 9.867 3,494 7.347 9.898 144
2010...... 9.867 11.035 4,293 9.898 11.080 238
2011...... 11.035 11.213 4,044 11.080 11.270 136
2012...... 11.213 12.538 3,735 11.270 12.614 120
2013...... 12.538 14.179 3,390 12.614 14.280 114
2014...... 14.179 14.722 2867 14.280 14.842 117
2015...... 14.722 13.582 2548 14.842 13.706 114
2016...... 13.582 15.370 2216 13.706 15.526 113
----------- ------ ------ ----- ------ ------ ---
Franklin Mutual Shares VIP
2008...... 10.110 6.576 4,123 10.142 6.590 386
2009...... 6.576 8.227 11,878 6.590 8.253 509
2010...... 8.227 9.080 19,245 8.253 9.117 601
2011...... 9.080 8.918 19,483 9.117 8.964 574
2012...... 8.918 10.112 17,484 8.964 10.174 504
2013...... 10.112 12.873 14,878 10.174 12.965 446
2014...... 12.873 13.686 12534 12.965 13.798 408
2015...... 13.686 12.914 11375 13.798 13.032 370
2016...... 12.914 14.875 9822 13.032 15.027 339
----------- ------ ------ ------ ------ ------ ---
FTVIPT Franklin Small-Mid Cap Growth Securities(6)
2008...... 10.168 6.226 204 9.855 6.239 12
2009...... 6.226 8.872 310 6.239 8.900 24
2010...... 8.872 11.238 440 8.900 11.285 16
2011...... 11.238 10.616 432 11.285 10.670 15
2012...... 10.616 11.680 403 10.670 11.751 11
2013...... 11.680 13.656 372 11.751 13.745 10
----------- ------ ------ ------ ------ ------ ---
Invesco V.I. International Growth
2014...... 10.087 9.664 15 N/A N/A N/A
2015...... 9.664 9.341 19 N/A N/A N/A
2016...... 9.341 9.207 25 N/A N/A N/A
----------- ------ ------ ------ ------ ------ ---
JPMorgan Insurance Trust Global Allocation
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ ------ ------ ------ ---
LVIP American Century Select Mid Cap Managed Volatility
2014...... 10.564 11.292 1* 10.450 11.303 2
2015...... 11.292 10.732 4 11.303 10.754 1*
2016...... 10.732 12.509 4 10.754 12.547 1*
----------- ------ ------ ------ ------ ------ ---

A-5
<PAGE>

LVIP American Global Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ----------- -------- ------------- -- --- ---
LVIP American Global Small Capitalization
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 12.794 10.209 1*
2012...... N/A N/A N/A 10.209 11.914 1*
2013...... N/A N/A N/A 11.914 15.088 1*
2014...... N/A N/A N/A 15.088 15.206 1*
2015...... N/A N/A N/A 15.206 15.047 1*
2016...... N/A N/A N/A 15.047 15.163 1*
---------- ----------- -------- ------------- ------ ------ ---
LVIP American Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 12.523 11.830 1*
2012...... N/A N/A N/A 11.830 13.770 1*
2013...... N/A N/A N/A 13.770 17.693 1*
2014...... N/A N/A N/A 17.693 18.960 1*
2015...... N/A N/A N/A 18.960 20.006 1*
2016...... N/A N/A N/A 20.006 21.631 1*
---------- ----------- -------- ------------- ------ ------ ---
LVIP American Growth-Income
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ----------- -------- ------------- ------ ------ ---
LVIP American International
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ----------- -------- ------------- ------ ------ ---
LVIP Baron Growth Opportunities
2008...... N/A N/A N/A 9.592 6.203 31
2009...... N/A N/A N/A 6.203 8.504 48
2010...... N/A N/A N/A 8.504 10.651 64
2011...... N/A N/A N/A 10.651 10.980 59
2012...... N/A N/A N/A 10.980 12.867 53
2013...... N/A N/A N/A 12.867 17.861 52
2014...... N/A N/A N/A 17.861 18.560 47
2015...... N/A N/A N/A 18.560 17.516 48
2016...... N/A N/A N/A 17.516 18.326 42
---------- ----------- -------- ------------- ------ ------ ---
LVIP BlackRock Dividend Value Managed Volatility
2008...... N/A N/A N/A 9.568 6.411 24
2009...... N/A N/A N/A 6.411 7.814 39
2010...... N/A N/A N/A 7.814 9.110 39
2011...... N/A N/A N/A 9.110 8.774 35
2012...... N/A N/A N/A 8.774 10.147 33
2013...... N/A N/A N/A 10.147 11.858 42
2014...... N/A N/A N/A 11.858 12.131 46
2015...... N/A N/A N/A 12.131 11.410 49
2016...... N/A N/A N/A 11.410 12.628 43
---------- ----------- -------- ------------- ------ ------ ---

LVIP American Global Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... 13.879 17.311 1* N/A N/A N/A
2014...... 17.311 17.502 1* N/A N/A N/A
2015...... 17.502 18.514 1* N/A N/A N/A
2016...... 18.514 18.419 1* N/A N/A N/A
----------- ------ ------ --- -- --- ---
LVIP American Global Small Capitalization
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.804 10.232 1* N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ --- -- --- ---
LVIP American Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.533 11.857 1* N/A N/A N/A
2012...... 11.857 13.822 1* N/A N/A N/A
2013...... 13.822 17.787 4 N/A N/A N/A
2014...... 17.787 19.089 2 N/A N/A N/A
2015...... 19.089 20.172 2 N/A N/A N/A
2016...... 20.172 21.843 2 N/A N/A N/A
----------- ------ ------ --- -- --- ---
LVIP American Growth-Income
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.215 11.854 2 N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ --- -- --- ---
LVIP American International
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.308 10.467 1* N/A N/A N/A
2012...... 10.467 12.202 1* N/A N/A N/A
2013...... 12.202 14.672 2 N/A N/A N/A
2014...... 14.672 14.125 1* N/A N/A N/A
2015...... 14.125 13.341 1* N/A N/A N/A
2016...... 13.341 13.659 1* N/A N/A N/A
----------- ------ ------ --- -- --- ---
LVIP Baron Growth Opportunities
2008...... 9.610 6.223 53 9.622 6.236 8
2009...... 6.223 8.543 85 6.236 8.570 22
2010...... 8.543 10.716 176 8.570 10.761 18
2011...... 10.716 11.064 212 10.761 11.121 11
2012...... 11.064 12.985 198 11.121 13.065 8
2013...... 12.985 18.052 171 13.065 18.181 6
2014...... 18.052 18.786 159 18.181 18.940 8
2015...... 18.786 17.756 141 18.940 17.919 6
2016...... 17.756 18.606 134 17.919 18.795 5
----------- ------ ------ --- ------ ------ ---
LVIP BlackRock Dividend Value Managed Volatility
2008...... 9.535 6.431 53 9.121 6.444 1*
2009...... 6.431 7.851 95 6.444 7.875 2
2010...... 7.851 9.166 104 7.875 9.204 1*
2011...... 9.166 8.842 110 9.204 8.887 20
2012...... 8.842 10.240 106 8.887 10.303 18
2013...... 10.240 11.985 155 10.303 12.071 23
2014...... 11.985 12.279 123 12.071 12.380 18
2015...... 12.279 11.567 119 12.380 11.673 1*
2016...... 11.567 12.821 130 11.673 12.951 1*
----------- ------ ------ --- ------ ------ ---

A-6
<PAGE>

LVIP BlackRock Emerging Markets Managed Volatility(10)
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 10.408 10.014 1*
2014...... N/A N/A N/A 10.014 9.415 2
2015...... N/A N/A N/A 9.415 7.911 6
2016...... N/A N/A N/A 7.911 8.368 5
---------- -- --- -------- ------ ------ ---
LVIP BlackRock Global Allocation V.I. Managed Risk
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A 10.454 10.303 2
2015...... N/A N/A N/A 10.303 9.736 2
2016...... N/A N/A N/A 9.736 9.889 2
---------- -- --- -------- ------ ------ ---
LVIP BlackRock Global Growth ETF Allocation Managed Risk
2016...... N/A N/A N/A N/A N/A N/A
---------- -- --- -------- ------ ------ ---
LVIP BlackRock Inflation Protected Bond
2010...... N/A N/A N/A 10.311 10.143 12
2011...... 10.131 11.210 1* 10.143 11.246 41
2012...... 11.210 11.780 3 11.246 11.842 51
2013...... 11.780 10.652 5 11.842 10.730 495
2014...... 10.652 10.839 5 10.730 10.940 478
2015...... 10.839 10.397 5 10.940 10.515 418
2016...... 10.397 10.626 4 10.515 10.767 398
---------- ------ ------ --- ------ ------ ---
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP BlackRock U.S. Opportunities Managed Volatility(11)
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP Blended Core Equity Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP Blended Large Cap Growth Managed Volatility
2008...... N/A N/A N/A 11.495 7.059 11
2009...... N/A N/A N/A 7.059 9.666 21
2010...... N/A N/A N/A 9.666 10.640 29
2011...... N/A N/A N/A 10.640 9.920 32
2012...... N/A N/A N/A 9.920 11.414 27
2013...... N/A N/A N/A 11.414 14.160 25
2014...... N/A N/A N/A 14.160 14.748 25
2015...... N/A N/A N/A 14.748 14.774 24
2016...... N/A N/A N/A 14.774 14.414 25
---------- ------ ------ --- ------ ------ ---
LVIP Blended Mid Cap Managed Volatility
2008...... N/A N/A N/A 9.650 5.510 4
2009...... N/A N/A N/A 5.510 8.085 9
2010...... N/A N/A N/A 8.085 10.171 12
2011...... N/A N/A N/A 10.171 9.291 12
2012...... N/A N/A N/A 9.291 9.779 11
2013...... N/A N/A N/A 9.779 12.069 12
2014...... N/A N/A N/A 12.069 11.058 12
2015...... N/A N/A N/A 11.058 10.473 13
2016...... N/A N/A N/A 10.473 10.586 12
---------- ------ ------ --- ------ ------ ---
LVIP Clarion Global Real Estate
2008...... N/A N/A N/A 7.863 4.731 17
2009...... N/A N/A N/A 4.731 6.447 35
2010...... N/A N/A N/A 6.447 7.517 60
2011...... N/A N/A N/A 7.517 6.787 66
2012...... N/A N/A N/A 6.787 8.366 45
2013...... 8.761 8.431 1* 8.366 8.543 50
2014...... 8.431 9.473 1* 8.543 9.618 47
2015...... N/A N/A N/A 9.618 9.392 42
2016...... N/A N/A N/A 9.392 9.396 42
---------- ------ ------ --- ------ ------ ---

LVIP BlackRock Emerging Markets Managed Volatility(10)
2012...... 10.543 11.005 3 N/A N/A N/A
2013...... 11.005 10.035 14 N/A N/A N/A
2014...... 10.035 9.448 19 10.048 9.470 2
2015...... 9.448 7.951 26 9.470 7.977 2
2016...... 7.951 8.422 25 7.977 8.458 2
----------- ------ ------ -- ------ ----- ---
LVIP BlackRock Global Allocation V.I. Managed Risk
2013...... 10.132 10.464 1* 9.819 10.471 1*
2014...... 10.464 10.328 7 10.471 10.345 10
2015...... 10.328 9.773 7 10.345 9.800 6
2016...... 9.773 9.943 1* 9.800 9.980 6
----------- ------ ------ -- ------ ------ ---
LVIP BlackRock Global Growth ETF Allocation Managed Risk
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ ---- ------ ------ ---
LVIP BlackRock Inflation Protected Bond
2010...... 10.129 10.153 3 N/A N/A N/A
2011...... 10.153 11.274 243 10.159 11.292 7
2012...... 11.274 11.888 295 11.292 11.919 21
2013...... 11.888 10.788 1,281 11.919 10.827 66
2014...... 10.788 11.016 1130 10.827 11.067 48
2015...... 11.016 10.604 1010 11.067 10.664 38
2016...... 10.604 10.875 953 10.664 10.947 35
----------- ------ ------ ----- ------ ------ ---
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP BlackRock U.S. Opportunities Managed Volatility(11)
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP Blended Core Equity Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... 10.625 9.998 7 N/A N/A N/A
2016...... 9.998 10.782 6 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP Blended Large Cap Growth Managed Volatility
2008...... 10.840 7.081 7 N/A N/A N/A
2009...... 7.081 9.711 31 N/A N/A N/A
2010...... 9.711 10.706 48 9.741 10.750 1*
2011...... 10.706 9.996 48 10.750 10.048 2
2012...... 9.996 11.519 42 10.048 11.590 2
2013...... 11.519 14.312 33 11.590 14.415 2
2014...... 14.312 14.928 27 14.415 15.050 2
2015...... 14.928 14.977 26 15.050 15.115 2
2016...... 14.977 14.634 26 15.115 14.783 2
----------- ------ ------ ----- ------ ------ ---
LVIP Blended Mid Cap Managed Volatility
2008...... 9.527 5.524 16 9.466 5.533 1*
2009...... 5.524 8.117 29 5.533 8.139 1*
2010...... 8.117 10.227 42 8.139 10.264 6
2011...... 10.227 9.356 44 10.264 9.399 6
2012...... 9.356 9.863 43 9.399 9.919 6
2013...... 9.863 12.189 32 9.919 12.271 7
2014...... 12.189 11.185 34 12.271 11.271 4
2015...... 11.185 10.609 35 11.271 10.701 4
2016...... 10.609 10.741 34 10.701 10.845 4
----------- ------ ------ ----- ------ ------ ---
LVIP Clarion Global Real Estate
2008...... 7.764 4.743 30 7.895 4.751 8
2009...... 4.743 6.472 54 4.751 6.489 19
2010...... 6.472 7.559 75 6.489 7.586 23
2011...... 7.559 6.834 92 7.586 6.866 15
2012...... 6.834 8.437 87 6.866 8.485 12
2013...... 8.437 8.629 92 8.485 8.686 22
2014...... 8.629 9.729 85 8.686 9.804 20
2015...... 9.729 9.515 75 9.804 9.597 19
2016...... 9.515 9.533 74 9.597 9.625 20
----------- ------ ------ ----- ------ ------ ---

A-7
<PAGE>

LVIP ClearBridge Large Cap Managed Volatility
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- -- --- --- -- ---
LVIP Delaware Bond
2008...... 10.736 10.206 35 10.517 10.012 1,046
2009...... 10.206 11.959 74 10.012 11.756 4,322
2010...... 11.959 12.789 123 11.756 12.596 9,066
2011...... 12.789 13.567 121 12.596 13.390 9,152
2012...... 13.567 14.255 121 13.390 14.097 9,024
2013...... 14.255 13.727 118 14.097 13.601 9,563
2014...... 13.727 14.337 111 13.601 14.235 8986
2015...... 14.337 14.185 101 14.235 14.112 8427
2016...... 14.185 14.362 94 14.112 14.317 8023
---------- ------ ------ --- ------ ------ -----
LVIP Delaware Diversified Floating Rate
2010...... 10.070 10.072 1* 10.082 10.084 6
2011...... 10.072 9.913 1* 10.084 9.945 52
2012...... 9.913 10.193 1* 9.945 10.246 46
2013...... 10.193 10.132 2 10.246 10.206 178
2014...... 10.132 10.058 2 10.206 10.151 159
2015...... 10.058 9.851 2 10.151 9.963 214
2016...... 9.851 9.939 2 9.963 10.071 210
---------- ------ ------ --- ------ ------ -----
LVIP Delaware Foundation Aggressive Allocation(7)
2008...... N/A N/A N/A 10.084 7.069 12
2009...... N/A N/A N/A 7.069 9.223 20
2010...... N/A N/A N/A 9.223 10.256 19
2011...... N/A N/A N/A 10.256 9.933 18
2012...... N/A N/A N/A 9.933 11.125 17
2013...... N/A N/A N/A 11.125 13.224 16
2014...... N/A N/A N/A 13.224 13.640 12
2015...... N/A N/A N/A 13.640 13.304 11
2016...... N/A N/A N/A 13.304 13.891 11
---------- ------ ------ --- ------ ------ -----
LVIP Delaware Social Awareness
2008...... N/A N/A N/A 9.442 6.654 2
2009...... N/A N/A N/A 6.654 8.542 2
2010...... N/A N/A N/A 8.542 9.412 7
2011...... N/A N/A N/A 9.412 9.355 7
2012...... N/A N/A N/A 9.355 10.651 7
2013...... N/A N/A N/A 10.651 14.272 7
2014...... N/A N/A N/A 14.272 16.237 9
2015...... N/A N/A N/A 16.237 15.930 6
2016...... N/A N/A N/A 15.930 16.776 6
---------- ------ ------ --- ------ ------ -----
LVIP Delaware Special Opportunities
2008...... N/A N/A N/A 8.851 5.746 10
2009...... N/A N/A N/A 5.746 7.402 12
2010...... N/A N/A N/A 7.402 9.550 24
2011...... N/A N/A N/A 9.550 8.941 21
2012...... N/A N/A N/A 8.941 10.148 25
2013...... N/A N/A N/A 10.148 13.408 23
2014...... N/A N/A N/A 13.408 14.252 18
2015...... N/A N/A N/A 14.252 14.112 17
2016...... N/A N/A N/A 14.112 16.780 16
---------- ------ ------ --- ------ ------ -----
LVIP Dimensional International Core Equity
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ -----
LVIP Dimensional International Equity Managed Volatility
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 8.580 9.789 2
2013...... N/A N/A N/A 9.789 11.140 3
2014...... N/A N/A N/A 11.140 10.186 13
2015...... N/A N/A N/A 10.186 9.670 20
2016...... N/A N/A N/A 9.670 9.748 21
---------- ------ ------ --- ------ ------ -----

LVIP ClearBridge Large Cap Managed Volatility
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- -- --- --- -- --- ---
LVIP Delaware Bond
2008...... 10.570 10.044 3,510 10.622 10.065 282
2009...... 10.044 11.811 13,814 10.065 11.848 501
2010...... 11.811 12.674 27,791 11.848 12.726 702
2011...... 12.674 13.493 27,722 12.726 13.562 668
2012...... 13.493 14.227 27,034 13.562 14.314 653
2013...... 14.227 13.747 28,666 14.314 13.845 596
2014...... 13.747 14.409 25503 13.845 14.526 602
2015...... 14.409 14.306 22753 14.526 14.437 559
2016...... 14.306 14.535 21286 14.437 14.683 514
----------- ------ ------ ------ ------ ------ ---
LVIP Delaware Diversified Floating Rate
2010...... 10.093 10.094 14 N/A N/A N/A
2011...... 10.094 9.969 188 10.100 9.986 5
2012...... 9.969 10.287 208 9.986 10.314 5
2013...... 10.287 10.262 487 10.314 10.299 40
2014...... 10.262 10.222 462 10.299 10.269 32
2015...... 10.222 10.047 424 10.269 10.104 42
2016...... 10.047 10.172 417 10.104 10.240 30
----------- ------ ------ ------ ------ ------ ---
LVIP Delaware Foundation Aggressive Allocation(7)
2008...... 10.266 7.091 49 10.298 7.106 1*
2009...... 7.091 9.266 53 7.106 9.295 1*
2010...... 9.266 10.319 53 9.295 10.362 1*
2011...... 10.319 10.009 53 10.362 10.061 1*
2012...... 10.009 11.227 56 10.061 11.297 1*
2013...... 11.227 13.365 46 11.297 13.462 1*
2014...... 13.365 13.806 40 13.462 13.920 1*
2015...... 13.806 13.487 31 N/A N/A N/A
2016...... 13.487 14.103 30 N/A N/A N/A
----------- ------ ------ ------ ------ ------ ---
LVIP Delaware Social Awareness
2008...... 9.786 6.675 1* 9.480 6.689 1*
2009...... 6.675 8.582 20 6.689 8.609 11
2010...... 8.582 9.470 31 8.609 9.510 32
2011...... 9.470 9.427 42 9.510 9.475 29
2012...... 9.427 10.749 40 9.475 10.815 21
2013...... 10.749 14.425 33 10.815 14.528 14
2014...... 14.425 16.436 29 14.528 16.570 4
2015...... 16.436 16.148 29 16.570 16.295 1*
2016...... 16.148 17.032 27 N/A N/A N/A
----------- ------ ------ ------ ------ ------ ---
LVIP Delaware Special Opportunities
2008...... 8.375 5.760 14 8.646 5.769 4
2009...... 5.760 7.431 48 5.769 7.450 4
2010...... 7.431 9.602 56 7.450 9.636 1*
2011...... 9.602 9.003 66 9.636 9.044 1*
2012...... 9.003 10.234 63 9.044 10.291 1*
2013...... 10.234 13.542 54 10.291 13.631 1*
2014...... 13.542 14.416 50 13.631 14.525 3
2015...... 14.416 14.295 43 14.525 14.418 1*
2016...... 14.295 17.024 41 14.418 17.187 1*
----------- ------ ------ ------ ------ ------ ---
LVIP Dimensional International Core Equity
2015...... 9.181 9.021 1* N/A N/A N/A
2016...... 9.021 9.333 1* N/A N/A N/A
----------- ------ ------ ------ ------ ------ ---
LVIP Dimensional International Equity Managed Volatility
2011...... N/A N/A N/A N/A N/A N/A
2012...... 9.403 9.812 1* N/A N/A N/A
2013...... 9.812 11.184 13 N/A N/A N/A
2014...... 11.184 10.241 17 11.213 10.279 2
2015...... 10.241 9.737 14 10.279 9.782 2
2016...... 9.737 9.830 17 9.782 9.886 2
----------- ------ ------ ------ ------ ------ ---

A-8
<PAGE>

LVIP Dimensional U.S. Core Equity 1
2008...... 10.282 7.224 3 9.748 6.742 4
2009...... 7.224 8.876 4 6.742 8.302 6
2010...... 8.876 9.880 4 8.302 9.259 12
2011...... 9.880 9.854 3 9.259 9.253 19
2012...... 9.854 11.200 3 9.253 10.538 18
2013...... 11.200 14.711 3 10.538 13.869 16
2014...... 14.711 16.410 3 13.869 15.502 17
2015...... 16.410 15.850 3 15.502 15.003 15
2016...... 15.850 17.872 2 15.003 16.951 15
---------- ------ ------ - ------ ------ --
LVIP Dimensional U.S. Core Equity 2
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP Dimensional U.S. Equity Managed Volatility
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 10.723 10.906 1*
2013...... N/A N/A N/A 10.906 13.930 1*
2014...... N/A N/A N/A 13.930 14.415 8
2015...... N/A N/A N/A 14.415 13.165 9
2016...... N/A N/A N/A 13.165 14.464 9
---------- ------ ------ --- ------ ------ ---
LVIP Dimensional/Vanguard Total Bond
2011...... N/A N/A N/A 10.291 10.389 4
2012...... N/A N/A N/A 10.389 10.655 19
2013...... N/A N/A N/A 10.655 10.242 30
2014...... N/A N/A N/A 10.242 10.596 46
2015...... N/A N/A N/A 10.596 10.508 40
2016...... N/A N/A N/A 10.508 10.605 107
---------- ------ ------ --- ------ ------ ---
LVIP Franklin Templeton Global Equity Managed Volatility
2008...... 9.313 6.034 2 8.857 6.054 140
2009...... 6.034 7.628 3 6.054 7.668 199
2010...... 7.628 8.020 7 7.668 8.079 270
2011...... 8.020 7.668 7 8.079 7.739 247
2012...... 7.668 9.170 7 7.739 9.273 182
2013...... 9.170 10.850 5 9.273 10.995 169
2014...... 10.850 10.492 4 10.995 10.653 153
2015...... 10.492 9.520 4 10.653 9.686 147
2016...... 9.520 9.620 4 9.686 9.807 139
---------- ------ ------ --- ------ ------ ---
LVIP Franklin Templeton Value Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP Global Conservative Allocation Managed Risk
2008...... N/A N/A N/A 10.418 8.672 30
2009...... N/A N/A N/A 8.672 10.703 46
2010...... N/A N/A N/A 10.703 11.693 104
2011...... N/A N/A N/A 11.693 11.985 119
2012...... N/A N/A N/A 11.985 13.006 131
2013...... N/A N/A N/A 13.006 14.111 131
2014...... N/A N/A N/A 14.111 14.744 116
2015...... N/A N/A N/A 14.744 14.286 109
2016...... N/A N/A N/A 14.286 14.830 85
---------- ------ ------ --- ------ ------ ---
LVIP Global Growth Allocation Managed Risk
2008...... N/A N/A N/A N/A N/A N/A
2009...... N/A N/A N/A 6.913 9.309 64
2010...... N/A N/A N/A 9.309 10.372 296
2011...... N/A N/A N/A 10.372 10.254 352
2012...... N/A N/A N/A 10.254 11.064 519
2013...... N/A N/A N/A 11.064 12.419 607
2014...... N/A N/A N/A 12.419 12.702 702
2015...... N/A N/A N/A 12.702 12.094 758
2016...... N/A N/A N/A 12.094 12.523 727
---------- ------ ------ --- ------ ------ ---

LVIP Dimensional U.S. Core Equity 1
2008...... 9.766 6.764 14 N/A N/A N/A
2009...... 6.764 8.340 42 N/A N/A N/A
2010...... 8.340 9.316 78 N/A N/A N/A
2011...... 9.316 9.325 86 N/A N/A N/A
2012...... 9.325 10.636 91 N/A N/A N/A
2013...... 10.636 14.018 86 N/A N/A N/A
2014...... 14.018 15.691 75 N/A N/A N/A
2015...... 15.691 15.209 69 15.466 15.346 1*
2016...... 15.209 17.210 70 15.346 17.382 1*
----------- ------ ------ -- ------ ------ ---
LVIP Dimensional U.S. Core Equity 2
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ ---- ------ ------ ---
LVIP Dimensional U.S. Equity Managed Volatility
2011...... N/A N/A N/A N/A N/A N/A
2012...... 9.736 10.933 6 N/A N/A N/A
2013...... 10.933 13.983 9 10.951 14.020 1*
2014...... 13.983 14.494 12 14.020 14.546 2
2015...... 14.494 13.257 8 14.546 13.319 2
2016...... 13.257 14.587 25 13.319 14.669 2
----------- ------ ------ ---- ------ ------ ---
LVIP Dimensional/Vanguard Total Bond
2011...... 10.058 10.399 38 10.281 10.406 1*
2012...... 10.399 10.681 124 10.406 10.698 2
2013...... 10.681 10.282 109 10.698 10.309 1*
2014...... 10.282 10.654 93 10.309 10.692 1*
2015...... 10.654 10.581 114 10.692 10.630 3
2016...... 10.581 10.695 164 10.630 10.756 1*
----------- ------ ------ ---- ------ ------ ---
LVIP Franklin Templeton Global Equity Managed Volatility
2008...... 9.602 6.069 313 8.916 6.079 18
2009...... 6.069 7.698 537 6.079 7.719 11
2010...... 7.698 8.123 842 7.719 8.152 21
2011...... 8.123 7.793 808 8.152 7.829 10
2012...... 7.793 9.352 659 7.829 9.405 5
2013...... 9.352 11.104 577 9.405 11.178 5
2014...... 11.104 10.775 494 11.178 10.858 7
2015...... 10.775 9.812 463 10.858 9.897 4
2016...... 9.812 9.949 476 9.897 10.045 4
----------- ------ ------ ---- ------ ------ ---
LVIP Franklin Templeton Value Managed Volatility
2014...... 10.630 10.356 2 10.054 10.365 9
2015...... 10.356 9.453 2 10.365 9.471 6
2016...... 9.453 10.410 1* 9.471 10.440 6
----------- ------ ------ ---- ------ ------ ---
LVIP Global Conservative Allocation Managed Risk
2008...... 10.450 8.699 100 N/A N/A N/A
2009...... 8.699 10.753 326 8.569 10.788 21
2010...... 10.753 11.765 439 10.788 11.814 11
2011...... 11.765 12.077 467 11.814 12.140 89
2012...... 12.077 13.126 512 12.140 13.207 61
2013...... 13.126 14.262 495 13.207 14.365 6
2014...... 14.262 14.924 428 14.365 15.047 6
2015...... 14.924 14.482 424 15.047 14.615 5
2016...... 14.482 15.057 376 14.615 15.211 5
----------- ------ ------ ---- ------ ------ ---
LVIP Global Growth Allocation Managed Risk
2008...... 10.307 7.321 31 10.347 7.336 11
2009...... 7.321 9.352 159 7.336 9.381 11
2010...... 9.352 10.436 479 9.381 10.479 52
2011...... 10.436 10.332 637 10.479 10.385 83
2012...... 10.332 11.165 1,068 10.385 11.234 113
2013...... 11.165 12.552 1,546 11.234 12.642 131
2014...... 12.552 12.857 1514 12.642 12.962 190
2015...... 12.857 12.260 1429 12.962 12.372 180
2016...... 12.260 12.714 1413 12.372 12.844 155
----------- ------ ------ ----- ------ ------ ---

A-9
<PAGE>

LVIP Global Income
2009...... N/A N/A N/A 10.095 10.719 174
2010...... 10.708 11.588 1* 10.719 11.623 706
2011...... 11.588 11.557 2 11.623 11.615 778
2012...... 11.557 12.279 6 11.615 12.365 766
2013...... 12.279 11.773 6 12.365 11.879 835
2014...... 11.773 11.840 6 11.879 11.971 787
2015...... 11.840 11.445 5 11.971 11.595 730
2016...... 11.445 11.349 5 11.595 11.521 678
---------- ------ ------ --- ------ ------ ---
LVIP Global Moderate Allocation Managed Risk
2008...... N/A N/A N/A 10.407 7.963 55
2009...... N/A N/A N/A 7.963 10.080 171
2010...... N/A N/A N/A 10.080 11.156 347
2011...... N/A N/A N/A 11.156 11.157 480
2012...... N/A N/A N/A 11.157 12.088 705
2013...... N/A N/A N/A 12.088 13.367 748
2014...... N/A N/A N/A 13.367 13.762 701
2015...... N/A N/A N/A 13.762 13.145 723
2016...... N/A N/A N/A 13.145 13.559 677
---------- ------ ------ --- ------ ------ ---
LVIP Government Money Market
2008...... 10.574 10.592 3 10.455 10.543 116
2009...... 10.592 10.485 10 10.543 10.457 186
2010...... 10.485 10.375 9 10.457 10.368 190
2011...... 10.375 10.264 8 10.368 10.278 309
2012...... 10.264 10.155 14 10.278 10.189 280
2013...... 10.155 10.046 14 10.189 10.100 322
2014...... 10.046 9.939 28 10.100 10.012 248
2015...... 9.939 9.832 18 10.012 9.924 327
2016...... 9.832 9.727 18 9.924 9.838 324
---------- ------ ------ --- ------ ------ ---
LVIP Invesco Diversified Equity-Income Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A 9.351 10.629 9
---------- ------ ------ --- ------ ------ ---
LVIP Invesco Select Equity Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP JPMorgan High Yield
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.839 10.992 1* 10.852 11.028 4
2012...... 10.992 12.463 3 11.028 12.528 35
2013...... 12.463 13.103 3 12.528 13.198 71
2014...... 13.103 13.294 3 13.198 13.418 90
2015...... 13.294 12.600 3 13.418 12.743 88
2016...... 12.600 14.080 3 12.743 14.267 83
---------- ------ ------ --- ------ ------ ---
LVIP JPMorgan Select Mid Cap Value Managed Volatility
2008...... N/A N/A N/A 8.679 6.128 1*
2009...... N/A N/A N/A 6.128 7.553 5
2010...... N/A N/A N/A 7.553 9.315 10
2011...... N/A N/A N/A 9.315 9.047 18
2012...... N/A N/A N/A 9.047 10.173 14
2013...... N/A N/A N/A 10.173 12.488 19
2014...... N/A N/A N/A 12.488 13.347 15
2015...... 12.769 11.979 1* 13.347 12.174 16
2016...... 11.979 13.000 1* 12.174 13.238 16
---------- ------ ------ --- ------ ------ ---

LVIP Global Income
2009...... 10.119 10.730 452 10.462 10.738 13
2010...... 10.730 11.653 1,597 10.738 11.673 39
2011...... 11.653 11.662 1,728 11.673 11.694 25
2012...... 11.662 12.434 1,692 11.694 12.481 31
2013...... 12.434 11.963 1,878 12.481 12.020 31
2014...... 11.963 12.074 1769 12.020 12.143 39
2015...... 12.074 11.712 1624 12.143 11.791 33
2016...... 11.712 11.655 1560 11.791 11.745 36
----------- ------ ------ ----- ------ ------ --
LVIP Global Moderate Allocation Managed Risk
2008...... 10.426 7.988 148 10.476 8.005 1*
2009...... 7.988 10.127 297 8.005 10.159 8
2010...... 10.127 11.225 715 10.159 11.272 47
2011...... 11.225 11.243 867 11.272 11.301 51
2012...... 11.243 12.199 1,497 11.301 12.274 61
2013...... 12.199 13.511 1,893 12.274 13.607 123
2014...... 13.511 13.930 1668 13.607 14.044 100
2015...... 13.930 13.326 1664 14.044 13.448 75
2016...... 13.326 13.766 1511 13.448 13.905 62
----------- ------ ------ ----- ------ ------ ---
LVIP Government Money Market
2008...... 10.508 10.577 433 10.507 10.599 148
2009...... 10.577 10.506 335 10.599 10.539 92
2010...... 10.506 10.432 326 10.539 10.475 13
2011...... 10.432 10.357 765 10.475 10.410 17
2012...... 10.357 10.283 736 10.410 10.346 35
2013...... 10.283 10.208 682 10.346 10.281 209
2014...... 10.208 10.135 441 10.281 10.217 10
2015...... 10.135 10.061 462 10.217 10.153 15
2016...... 10.061 9.989 423 10.153 10.090 35
----------- ------ ------ ----- ------ ------ ---
LVIP Invesco Diversified Equity-Income Managed Volatility
2014...... 10.447 10.314 1* N/A N/A N/A
2015...... 10.314 9.708 1* N/A N/A N/A
2016...... 9.708 10.671 1* N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP Invesco Select Equity Managed Volatility
2014...... 9.723 10.370 3 9.916 10.381 2
2015...... 10.370 9.376 6 N/A N/A N/A
2016...... 9.376 9.852 6 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP JPMorgan High Yield
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.863 11.055 24 10.869 11.073 1*
2012...... 11.055 12.578 100 11.073 12.611 10
2013...... 12.578 13.270 242 12.611 13.318 18
2014...... 13.270 13.511 250 13.318 13.574 25
2015...... 13.511 12.851 245 13.574 12.923 16
2016...... 12.851 14.410 225 12.923 14.505 16
----------- ------ ------ ----- ------ ------ ---
LVIP JPMorgan Select Mid Cap Value Managed Volatility
2008...... 8.688 6.144 2 8.338 6.154 1*
2009...... 6.144 7.583 12 6.154 7.603 1*
2010...... 7.583 9.367 34 7.603 9.401 1*
2011...... 9.367 9.111 34 9.401 9.152 1*
2012...... 9.111 10.260 42 N/A N/A N/A
2013...... 10.260 12.614 52 10.317 12.697 1*
2014...... 12.614 13.502 53 12.697 13.605 1*
2015...... 13.502 12.334 45 13.605 12.440 1*
2016...... 12.334 13.432 50 12.440 13.561 1*
----------- ------ ------ ----- ------ ------ ---

A-10
<PAGE>

LVIP Managed Risk Profile 2010
2008...... N/A N/A N/A 10.090 7.885 7
2009...... N/A N/A N/A 7.885 9.697 10
2010...... N/A N/A N/A 9.697 10.685 10
2011...... N/A N/A N/A 10.685 10.694 10
2012...... N/A N/A N/A 10.694 11.475 10
2013...... N/A N/A N/A 11.475 12.357 5
2014...... N/A N/A N/A 12.357 12.800 4
2015...... N/A N/A N/A 12.800 12.450 3
2016...... N/A N/A N/A 12.450 12.854 2
---------- ----- ----- ------ ------ --
LVIP Managed Risk Profile 2020
2008...... N/A N/A N/A 7.872 7.465 2
2009...... N/A N/A N/A 7.465 9.273 3
2010...... N/A N/A N/A 9.273 10.270 3
2011...... N/A N/A N/A 10.270 10.173 3
2012...... N/A N/A N/A 10.173 10.899 3
2013...... N/A N/A N/A 10.899 11.973 3
2014...... N/A N/A N/A 11.973 12.355 3
2015...... N/A N/A N/A 12.355 11.944 3
2016...... N/A N/A N/A 11.944 12.334 2
---------- ----- ----- ------ ------ --
LVIP Managed Risk Profile 2030
2008...... N/A N/A N/A N/A N/A N/A
2009...... N/A N/A N/A N/A N/A N/A
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A 12.096 12.035 10
---------- ----- ----- ------ ------ ----
LVIP Managed Risk Profile 2040
2008...... N/A N/A N/A N/A N/A N/A
2009...... N/A N/A N/A N/A N/A N/A
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ----- ----- ------ ------ ----
LVIP MFS International Equity Managed Volatility
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ----- ----- ------ ------ ----
LVIP MFS International Growth
2008...... N/A N/A N/A 9.908 5.652 12
2009...... 6.116 7.550 2 5.652 7.590 287
2010...... 7.550 8.425 15 7.590 8.487 1,066
2011...... 8.425 7.491 15 8.487 7.561 1,279
2012...... 7.491 8.825 14 7.561 8.925 1,171
2013...... 8.825 9.892 12 8.925 10.024 1,127
2014...... 9.892 9.266 12 10.024 9.408 1135
2015...... 9.266 9.261 11 9.408 9.422 1066
2016...... 9.261 9.288 10 9.422 9.468 1036
---------- ----- ----- --- ------ ------ -----

LVIP Managed Risk Profile 2010
2008...... 10.205 7.904 9 N/A N/A N/A
2009...... 7.904 9.735 18 N/A N/A N/A
2010...... 9.735 10.743 16 N/A N/A N/A
2011...... 10.743 10.768 12 N/A N/A N/A
2012...... 10.768 11.572 6 N/A N/A N/A
2013...... 11.572 12.480 6 N/A N/A N/A
2014...... 12.480 12.947 16 N/A N/A N/A
2015...... 12.947 12.612 15 N/A N/A N/A
2016...... 12.612 13.040 15 N/A N/A N/A
----------- ------ ------ -- -- ---
LVIP Managed Risk Profile 2020
2008...... 9.840 7.483 4 N/A N/A N/A
2009...... 7.483 9.309 10 N/A N/A N/A
2010...... 9.309 10.326 10 N/A N/A N/A
2011...... 10.326 10.243 10 N/A N/A N/A
2012...... 10.243 10.991 14 N/A N/A N/A
2013...... 10.991 12.092 14 N/A N/A N/A
2014...... 12.092 12.497 13 N/A N/A N/A
2015...... 12.497 12.099 13 N/A N/A N/A
2016...... 12.099 12.513 12 N/A N/A N/A
----------- ------ ------ -- -- ---
LVIP Managed Risk Profile 2030
2008...... 6.673 7.158 1* N/A N/A N/A
2009...... 7.158 9.069 1* N/A N/A N/A
2010...... 9.069 10.104 1* N/A N/A N/A
2011...... 10.104 9.947 1* N/A N/A N/A
2012...... 9.947 10.626 1* N/A N/A N/A
2013...... 10.626 11.966 1* N/A N/A N/A
2014...... 11.966 12.339 1* N/A N/A N/A
2015...... 12.339 11.892 1* N/A N/A N/A
2016...... 11.892 12.210 1* N/A N/A N/A
----------- ------ ------ -- -- ---
LVIP Managed Risk Profile 2040
2008...... N/A N/A N/A N/A N/A N/A
2009...... N/A N/A N/A N/A N/A N/A
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ ---- -- ---
LVIP MFS International Equity Managed Volatility
2013...... 9.396 10.104 3 10.114 10.110 2
2014...... 10.104 9.291 8 N/A N/A N/A
2015...... 9.291 9.210 10 N/A N/A N/A
2016...... 9.210 9.000 1* N/A N/A N/A
----------- ------ ------ ---- ------ ------ ---
LVIP MFS International Growth
2008...... 9.724 5.665 62 10.013 5.675 5
2009...... 5.665 7.620 885 5.675 7.640 22
2010...... 7.620 8.533 3,151 7.640 8.564 62
2011...... 8.533 7.614 3,754 8.564 7.649 73
2012...... 7.614 9.001 3,346 7.649 9.052 64
2013...... 9.001 10.124 3,171 9.052 10.191 59
2014...... 10.124 9.517 3060 10.191 9.590 61
2015...... 9.517 9.544 2746 9.590 9.627 58
2016...... 9.544 9.606 2616 9.627 9.699 52
----------- ------ ------ ----- ------ ------ ---

A-11
<PAGE>

LVIP MFS Value
2008...... 8.734 6.506 31 9.457 6.527 883
2009...... 6.506 7.765 71 6.527 7.806 3,023
2010...... 7.765 8.549 100 7.806 8.611 5,869
2011...... 8.549 8.426 99 8.611 8.504 6,215
2012...... 8.426 9.670 94 8.504 9.779 5,666
2013...... 9.670 12.972 79 9.779 13.144 4,900
2014...... 12.972 14.142 74 13.144 14.359 4372
2015...... 14.142 13.877 66 14.359 14.118 4019
2016...... 13.877 15.616 60 14.118 15.919 3635
---------- ------ ------ --- ------ ------ -----
LVIP Mondrian International Value
2008...... N/A N/A N/A 10.724 7.235 30
2009...... 6.683 9.140 2 7.235 8.671 36
2010...... N/A N/A N/A 8.671 8.783 38
2011...... N/A N/A N/A 8.783 8.317 42
2012...... N/A N/A N/A 8.317 9.012 42
2013...... 10.468 11.354 27 9.012 10.857 2,065
2014...... 11.354 10.919 27 10.857 10.462 1994
2015...... 10.919 10.366 24 10.462 9.952 1930
2016...... 10.366 10.638 23 9.952 10.234 1863
---------- ------ ------ --- ------ ------ -----
LVIP Multi-Manager Global Equity Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ -----
LVIP PIMCO Low Duration Bond
2014...... N/A N/A N/A 9.988 9.944 23
2015...... N/A N/A N/A 9.944 9.994 77
2016...... 10.067 10.086 2 9.994 10.139 86
---------- ------ ------ --- ------ ------ -----
LVIP Select Core Equity Managed Volatility
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ -----
LVIP SSGA Bond Index
2008...... N/A N/A N/A 10.204 10.497 7
2009...... N/A N/A N/A 10.497 10.847 23
2010...... N/A N/A N/A 10.847 11.363 71
2011...... N/A N/A N/A 11.363 12.064 88
2012...... N/A N/A N/A 12.064 12.386 109
2013...... N/A N/A N/A 12.386 11.930 125
2014...... N/A N/A N/A 11.930 12.472 206
2015...... N/A N/A N/A 12.472 12.360 191
2016...... N/A N/A N/A 12.360 12.499 194
---------- ------ ------ --- ------ ------ -----
LVIP SSGA Conservative Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 10.967 11.465 64
2013...... N/A N/A N/A 11.465 12.105 1*
2014...... N/A N/A N/A 12.105 12.533 4
2015...... N/A N/A N/A 12.533 12.273 4
2016...... N/A N/A N/A 12.273 12.739 7
---------- ------ ------ --- ------ ------ -----
LVIP SSGA Conservative Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.425 10.594 2
2012...... N/A N/A N/A 10.594 11.348 7
2013...... N/A N/A N/A 11.348 12.011 33
2014...... N/A N/A N/A 12.011 12.531 27
2015...... N/A N/A N/A 12.531 12.158 27
2016...... N/A N/A N/A 12.158 12.841 31
---------- ------ ------ --- ------ ------ -----

LVIP MFS Value
2008...... 9.341 6.543 2,955 9.473 6.554 240
2009...... 6.543 7.836 9,796 6.554 7.857 376
2010...... 7.836 8.658 17,911 7.857 8.689 508
2011...... 8.658 8.563 18,668 8.689 8.602 485
2012...... 8.563 9.862 16,717 8.602 9.918 435
2013...... 9.862 13.275 14,020 9.918 13.363 375
2014...... 13.275 14.524 11747 13.363 14.635 370
2015...... 14.524 14.301 10234 14.635 14.425 318
2016...... 14.301 16.151 8957 14.425 16.307 288
----------- ------ ------ ------ ------ ------ ---
LVIP Mondrian International Value
2008...... 10.393 7.258 25 10.619 7.273 4
2009...... 7.258 8.711 59 7.273 8.738 11
2010...... 8.711 8.837 110 8.738 8.874 19
2011...... 8.837 8.381 137 8.874 8.423 18
2012...... 8.381 9.095 121 8.423 9.150 36
2013...... 9.095 10.974 5,851 9.150 11.051 163
2014...... 10.974 10.590 5314 11.051 10.676 159
2015...... 10.590 10.089 4911 10.676 10.181 145
2016...... 10.089 10.390 4659 10.181 10.495 145
----------- ------ ------ ------ ------ ------ ---
LVIP Multi-Manager Global Equity Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ ------ ------ ------ ---
LVIP PIMCO Low Duration Bond
2014...... 10.010 9.954 39 9.993 9.960 2
2015...... 9.954 10.019 86 9.960 10.035 2
2016...... 10.019 10.180 113 10.035 10.207 10
----------- ------ ------ ------ ------ ------ ---
LVIP Select Core Equity Managed Volatility
2013...... N/A N/A N/A 10.176 11.122 2
2014...... N/A N/A N/A 11.122 11.692 3
2015...... N/A N/A N/A 11.692 11.018 1*
2016...... N/A N/A N/A 11.018 11.627 1*
----------- ------ ------ ------ ------ ------ ---
LVIP SSGA Bond Index
2008...... 9.977 10.506 1* 10.123 10.511 2
2009...... 10.506 10.871 205 10.511 10.888 8
2010...... 10.871 11.406 306 10.888 11.435 7
2011...... 11.406 12.128 352 11.435 12.171 6
2012...... 12.128 12.471 536 12.171 12.527 11
2013...... 12.471 12.029 526 12.527 12.096 12
2014...... 12.029 12.594 554 12.096 12.677 11
2015...... 12.594 12.500 539 12.677 12.595 15
2016...... 12.500 12.659 558 12.595 12.768 16
----------- ------ ------ ------ ------ ------ ---
LVIP SSGA Conservative Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.478 10.654 2 N/A N/A N/A
2012...... 10.654 11.507 72 11.406 11.535 1*
2013...... 11.507 12.167 14 N/A N/A N/A
2014...... 12.167 12.615 1* N/A N/A N/A
2015...... 12.615 12.372 9 N/A N/A N/A
2016...... 12.372 12.862 31 N/A N/A N/A
----------- ------ ------ ------ ------ ------ ---
LVIP SSGA Conservative Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.431 10.616 22 N/A N/A N/A
2012...... 10.616 11.389 1* 10.723 11.417 7
2013...... 11.389 12.073 31 N/A N/A N/A
2014...... 12.073 12.615 42 N/A N/A N/A
2015...... 12.615 12.257 59 N/A N/A N/A
2016...... 12.257 12.965 69 N/A N/A N/A
----------- ------ ------ ------ ------ ------ ---

A-12
<PAGE>

LVIP SSGA Developed International 150
2008...... N/A N/A N/A 8.338 6.283 2
2009...... N/A N/A N/A 6.283 8.987 5
2010...... N/A N/A N/A 8.987 9.530 13
2011...... N/A N/A N/A 9.530 8.278 20
2012...... N/A N/A N/A 8.278 9.300 22
2013...... N/A N/A N/A 9.300 11.061 20
2014...... N/A N/A N/A 11.061 11.033 24
2015...... N/A N/A N/A 11.033 10.438 22
2016...... N/A N/A N/A 10.438 11.324 20
---------- -- --- -------- ------ ------ --
LVIP SSGA Emerging Markets 100
2008...... N/A N/A N/A 8.123 6.074 2
2009...... N/A N/A N/A 6.074 11.405 6
2010...... N/A N/A N/A 11.405 14.405 18
2011...... N/A N/A N/A 14.405 12.113 19
2012...... N/A N/A N/A 12.113 13.491 19
2013...... N/A N/A N/A 13.491 12.959 20
2014...... N/A N/A N/A 12.959 12.379 17
2015...... 10.493 10.000 1* 12.379 10.152 16
2016...... 10.000 11.390 1* 10.152 11.585 15
---------- ------ ------ --- ------ ------ --
LVIP SSGA Global Tactical Allocation Managed Volatility(8)
2008...... N/A N/A N/A N/A N/A N/A
2009...... 7.014 9.211 2 6.515 8.568 21
2010...... N/A N/A N/A 8.568 9.212 23
2011...... N/A N/A N/A 9.212 9.126 58
2012...... N/A N/A N/A 9.126 10.028 51
2013...... N/A N/A N/A 10.028 10.885 68
2014...... N/A N/A N/A 10.885 11.188 64
2015...... N/A N/A N/A 11.188 10.339 57
2016...... N/A N/A N/A 10.339 10.796 58
---------- ------ ------ --- ------ ------ ---
LVIP SSGA International Index
2008...... N/A N/A N/A 8.303 6.420 2
2009...... N/A N/A N/A 6.420 8.114 7
2010...... N/A N/A N/A 8.114 8.587 16
2011...... N/A N/A N/A 8.587 7.438 24
2012...... N/A N/A N/A 7.438 8.685 25
2013...... N/A N/A N/A 8.685 10.388 74
2014...... N/A N/A N/A 10.388 9.670 78
2015...... N/A N/A N/A 9.670 9.442 72
2016...... N/A N/A N/A 9.442 9.427 71
---------- ------ ------ --- ------ ------ ---
LVIP SSGA International Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A 8.435 8.398 5
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Large Cap 100
2008...... N/A N/A N/A 9.689 6.998 3
2009...... N/A N/A N/A 6.998 9.360 9
2010...... N/A N/A N/A 9.360 11.029 25
2011...... N/A N/A N/A 11.029 11.156 30
2012...... N/A N/A N/A 11.156 12.377 28
2013...... N/A N/A N/A 12.377 16.620 27
2014...... N/A N/A N/A 16.620 19.179 24
2015...... N/A N/A N/A 19.179 18.074 20
2016...... N/A N/A N/A 18.074 21.714 17
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Large Cap Managed Volatility
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---

LVIP SSGA Developed International 150
2008...... 6.019 6.288 1* 8.749 6.291 2
2009...... 6.288 9.008 41 6.291 9.021 4
2010...... 9.008 9.566 62 9.021 9.590 4
2011...... 9.566 8.322 78 9.590 8.351 4
2012...... 8.322 9.363 92 8.351 9.405 7
2013...... 9.363 11.153 102 9.405 11.214 7
2014...... 11.153 11.141 114 11.214 11.214 4
2015...... 11.141 10.557 114 11.214 10.636 5
2016...... 10.557 11.470 109 10.636 11.567 5
----------- ------ ------ --- ------ ------ -
LVIP SSGA Emerging Markets 100
2008...... 5.782 6.079 1* 8.382 6.082 1*
2009...... 6.079 11.432 28 6.082 11.449 2
2010...... 11.432 14.471 49 11.449 14.497 2
2011...... 14.471 12.186 73 14.497 12.220 4
2012...... 12.186 13.593 74 12.220 13.644 4
2013...... 13.593 13.077 101 13.644 13.139 6
2014...... 13.077 12.510 105 13.139 12.582 3
2015...... 12.510 10.275 109 12.582 10.344 4
2016...... 10.275 11.744 104 10.344 11.835 4
----------- ------ ------ --- ------ ------ -
LVIP SSGA Global Tactical Allocation Managed Volatility(8)
2008...... 9.479 6.648 3 N/A N/A N/A
2009...... 6.648 8.609 17 8.533 8.635 2
2010...... 8.609 9.269 24 8.635 9.307 2
2011...... 9.269 9.196 140 9.307 9.243 3
2012...... 9.196 10.120 124 9.243 10.182 3
2013...... 10.120 11.002 134 10.182 11.081 3
2014...... 11.002 11.325 112 11.081 11.417 3
2015...... 11.325 10.482 110 11.417 10.578 3
2016...... 10.482 10.961 106 10.578 11.072 3
----------- ------ ------ --- ------ ------ ---
LVIP SSGA International Index
2008...... 6.180 6.425 1* 8.732 6.429 2
2009...... 6.425 8.133 56 6.429 8.145 4
2010...... 8.133 8.619 75 8.145 8.641 4
2011...... 8.619 7.478 96 8.641 7.504 4
2012...... 7.478 8.744 125 7.504 8.784 7
2013...... 8.744 10.475 203 8.784 10.533 9
2014...... 10.475 9.765 229 10.533 9.828 6
2015...... 9.765 9.550 239 9.828 9.622 14
2016...... 9.550 9.548 236 9.622 9.630 7
----------- ------ ------ --- ------ ------ ---
LVIP SSGA International Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... 8.473 8.437 21 8.497 8.462 2
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Large Cap 100
2008...... 6.790 7.004 1* 10.157 7.007 2
2009...... 7.004 9.381 72 7.007 9.396 5
2010...... 9.381 11.071 100 9.396 11.099 5
2011...... 11.071 11.215 112 11.099 11.255 8
2012...... 11.215 12.461 138 11.255 12.518 6
2013...... 12.461 16.758 129 12.518 16.851 6
2014...... 16.758 19.367 129 16.851 19.494 4
2015...... 19.367 18.278 144 19.494 18.417 4
2016...... 18.278 21.992 128 18.417 22.181 3
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Large Cap Managed Volatility
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ --- ------ ------ ---

A-13
<PAGE>

LVIP SSGA Moderate Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.684 10.537 1*
2012...... N/A N/A N/A 10.537 11.636 19
2013...... N/A N/A N/A 11.636 12.937 19
2014...... N/A N/A N/A 12.937 13.353 23
2015...... N/A N/A N/A 13.353 13.007 24
2016...... N/A N/A N/A 13.007 13.712 24
---------- ------ ------ -------- ------ ------ ---
LVIP SSGA Moderate Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 10.758 11.469 3
2013...... 11.414 12.704 7 11.469 12.790 515
2014...... 12.704 13.230 7 12.790 13.347 449
2015...... 13.230 12.700 5 13.347 12.838 428
2016...... 12.700 13.692 5 12.838 13.869 374
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderately Aggressive Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 11.239 11.632 5
2013...... N/A N/A N/A 11.632 13.202 5
2014...... N/A N/A N/A 13.202 13.574 11
2015...... N/A N/A N/A 13.574 13.146 6
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderately Aggressive Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.882 10.569 3
2012...... N/A N/A N/A 10.569 11.639 5
2013...... N/A N/A N/A 11.639 13.251 7
2014...... N/A N/A N/A 13.251 13.791 7
2015...... N/A N/A N/A 13.791 13.158 7
2016...... N/A N/A N/A 13.158 14.370 22
---------- ------ ------ --- ------ ------ ---
LVIP SSGA S&P 500 Index
2008...... N/A N/A N/A 8.821 6.231 7
2009...... N/A N/A N/A 6.231 7.767 26
2010...... N/A N/A N/A 7.767 8.809 48
2011...... N/A N/A N/A 8.809 8.870 60
2012...... N/A N/A N/A 8.870 10.140 58
2013...... 12.657 14.070 4 10.140 13.233 342
2014...... 14.070 15.746 4 13.233 14.838 283
2015...... 15.746 15.716 4 14.838 14.840 257
2016...... 15.716 17.329 5 14.840 16.395 220
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Small-Cap Index
2008...... N/A N/A N/A 8.450 5.996 4
2009...... N/A N/A N/A 5.996 7.470 10
2010...... N/A N/A N/A 7.470 9.319 16
2011...... N/A N/A N/A 9.319 8.792 18
2012...... N/A N/A N/A 8.792 10.073 17
2013...... 11.651 13.552 1* 10.073 13.733 176
2014...... 13.552 13.995 1* 13.733 14.210 154
2015...... 13.995 13.157 1* 14.210 13.385 143
2016...... 13.157 15.664 1* 13.385 15.969 126
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Small-Mid Cap 200
2008...... N/A N/A N/A 10.478 7.250 1*
2009...... N/A N/A N/A 7.250 10.870 2
2010...... N/A N/A N/A 10.870 13.728 6
2011...... N/A N/A N/A 13.728 13.271 8
2012...... N/A N/A N/A 13.271 14.933 7
2013...... N/A N/A N/A 14.933 19.855 6
2014...... N/A N/A N/A 19.855 20.472 7
2015...... N/A N/A N/A 20.472 18.853 6
2016...... N/A N/A N/A 18.853 24.245 12
---------- ------ ------ --- ------ ------ ---

LVIP SSGA Moderate Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.690 10.560 1* N/A N/A N/A
2012...... 10.560 11.678 47 N/A N/A N/A
2013...... 11.678 13.003 45 N/A N/A N/A
2014...... 13.003 13.442 33 N/A N/A N/A
2015...... 13.442 13.113 51 N/A N/A N/A
2016...... 13.113 13.845 62 N/A N/A N/A
----------- ------ ------ ---- -- --- ---
LVIP SSGA Moderate Structured Allocation
2010...... 10.491 10.593 4 N/A N/A N/A
2011...... 10.593 10.518 28 N/A N/A N/A
2012...... 10.518 11.511 30 N/A N/A N/A
2013...... 11.511 12.856 1,749 11.539 12.900 57
2014...... 12.856 13.436 1486 12.900 13.495 45
2015...... 13.436 12.943 1335 13.495 13.013 51
2016...... 12.943 14.003 1239 13.013 14.093 46
----------- ------ ------ ----- ------ ------ ---
LVIP SSGA Moderately Aggressive Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.829 10.448 8 N/A N/A N/A
2012...... 10.448 11.674 8 N/A N/A N/A
2013...... 11.674 13.270 10 N/A N/A N/A
2014...... 13.270 13.665 10 N/A N/A N/A
2015...... 13.665 13.253 14 N/A N/A N/A
2016...... 13.253 14.089 14 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP SSGA Moderately Aggressive Structured Allocation
2010...... 10.761 10.889 10 N/A N/A N/A
2011...... 10.889 10.592 10 N/A N/A N/A
2012...... 10.592 11.681 14 N/A N/A N/A
2013...... 11.681 13.319 29 11.709 13.364 1*
2014...... 13.319 13.882 37 13.364 13.944 1*
2015...... 13.882 13.265 58 13.944 13.338 1*
2016...... 13.265 14.509 106 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP SSGA S&P 500 Index
2008...... 9.637 6.251 27 9.228 6.264 16
2009...... 6.251 7.803 153 6.264 7.827 33
2010...... 7.803 8.864 189 7.827 8.900 6
2011...... 8.864 8.938 212 8.900 8.984 6
2012...... 8.938 10.234 231 8.984 10.296 8
2013...... 10.234 13.375 1,130 10.296 13.470 41
2014...... 13.375 15.020 910 13.470 15.142 30
2015...... 15.020 15.044 774 15.142 15.182 24
2016...... 15.044 16.646 704 15.182 16.815 24
----------- ------ ------ ----- ------ ------ ---
LVIP SSGA Small-Cap Index
2008...... 8.168 6.011 7 8.569 6.021 9
2009...... 6.011 7.500 55 6.021 7.519 14
2010...... 7.500 9.369 59 7.519 9.403 6
2011...... 9.369 8.853 66 9.403 8.894 3
2012...... 8.853 10.158 73 8.894 10.215 3
2013...... 10.158 13.870 455 10.215 13.962 14
2014...... 13.870 14.374 408 13.962 14.483 6
2015...... 14.374 13.560 371 14.483 13.677 6
2016...... 13.560 16.201 314 13.677 16.357 7
----------- ------ ------ ----- ------ ------ ---
LVIP SSGA Small-Mid Cap 200
2008...... 7.010 7.256 1* 11.096 7.259 1*
2009...... 7.256 10.896 18 7.259 10.912 2
2010...... 10.896 13.781 24 10.912 13.815 1*
2011...... 13.781 13.342 25 13.815 13.388 1*
2012...... 13.342 15.036 35 13.388 15.103 2
2013...... 15.036 20.021 42 15.103 20.130 2
2014...... 20.021 20.675 42 20.130 20.809 1*
2015...... 20.675 19.068 37 20.809 19.211 1*
2016...... 19.068 24.558 36 19.211 24.767 1*
----------- ------ ------ ----- ------ ------ ---

A-14
<PAGE>

LVIP SSGA SMID Cap Managed Volatility
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- -- --- --- -- --- ---
LVIP T. Rowe Price Growth Stock
2008...... N/A N/A N/A 8.918 5.730 29
2009...... N/A N/A N/A 5.730 8.105 55
2010...... N/A N/A N/A 8.105 9.352 76
2011...... N/A N/A N/A 9.352 9.093 74
2012...... N/A N/A N/A 9.093 10.635 71
2013...... N/A N/A N/A 10.635 14.619 62
2014...... N/A N/A N/A 14.619 15.711 50
2015...... N/A N/A N/A 15.711 17.197 54
2016...... N/A N/A N/A 17.197 17.238 55
---------- -- --- --- ------ ------ ----
LVIP T. Rowe Price Structured Mid-Cap Growth
2008...... 11.177 6.904 1* 10.528 6.314 32
2009...... 6.904 9.968 1* 6.314 9.134 38
2010...... 9.968 12.626 1* 9.134 11.593 41
2011...... 12.626 11.974 1* 11.593 11.016 37
2012...... 11.974 13.740 1* 11.016 12.666 33
2013...... 13.740 18.272 1* 12.666 16.877 30
2014...... 18.272 20.115 1* 16.877 18.617 27
2015...... 20.115 20.262 1* 18.617 18.791 28
2016...... 20.262 21.501 1* 18.791 19.980 28
---------- ------ ------ --- ------ ------ ----
LVIP U.S. Growth Allocation Managed Risk
2015...... N/A N/A N/A 9.715 9.562 1*
2016...... N/A N/A N/A 9.562 9.838 1*
---------- ------ ------ --- ------ ------ ----
LVIP Vanguard Domestic Equity ETF
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 10.071 10.692 1*
2013...... N/A N/A N/A 10.692 13.796 2
2014...... N/A N/A N/A 13.796 15.303 3
2015...... N/A N/A N/A 15.303 15.082 3
2016...... N/A N/A N/A 15.082 16.719 17
---------- ------ ------ --- ------ ------ ----
LVIP Vanguard International Equity ETF
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 9.239 9.885 3
2013...... N/A N/A N/A 9.885 11.213 5
2014...... N/A N/A N/A 11.213 10.570 5
2015...... N/A N/A N/A 10.570 10.142 5
2016...... N/A N/A N/A 10.142 10.398 6
---------- ------ ------ --- ------ ------ ----
LVIP VIP Mid Cap Managed Volatility(11)
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ----
LVIP Wellington Capital Growth
2008...... 9.366 6.188 16 9.415 6.208 141
2009...... 6.188 8.233 30 6.208 8.276 1,286
2010...... 8.233 9.663 53 8.276 9.733 2,939
2011...... 9.663 8.674 50 9.733 8.754 3,193
2012...... 8.674 10.189 46 8.754 10.304 3,003
2013...... 10.189 13.672 40 10.304 13.854 2,544
2014...... 13.672 15.023 37 13.854 15.253 2205
2015...... 15.023 16.218 34 15.253 16.500 1921
2016...... 16.218 16.017 32 16.500 16.328 1831
---------- ------ ------ --- ------ ------ -----

LVIP SSGA SMID Cap Managed Volatility
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... 10.231 11.305 1* N/A N/A N/A
----------- ------ ------ ---- -- --- ---
LVIP T. Rowe Price Growth Stock
2008...... 9.454 5.744 72 8.884 5.753 6
2009...... 5.744 8.137 122 5.753 8.158 6
2010...... 8.137 9.403 205 8.158 9.437 7
2011...... 9.403 9.156 206 9.437 9.199 16
2012...... 9.156 10.725 157 9.199 10.785 27
2013...... 10.725 14.765 157 10.785 14.863 22
2014...... 14.765 15.891 140 14.863 16.013 20
2015...... 15.891 17.421 142 16.013 17.572 22
2016...... 17.421 17.488 144 17.572 17.658 13
----------- ------ ------ ---- ------ ------ ---
LVIP T. Rowe Price Structured Mid-Cap Growth
2008...... 10.256 6.334 34 7.388 6.348 1*
2009...... 6.334 9.177 82 6.348 9.206 12
2010...... 9.177 11.664 159 9.206 11.713 9
2011...... 11.664 11.100 150 11.713 11.158 4
2012...... 11.100 12.782 137 11.158 12.861 4
2013...... 12.782 17.058 123 12.861 17.181 4
2014...... 17.058 18.844 109 17.181 18.999 3
2015...... 18.844 19.049 97 18.999 19.224 3
2016...... 19.049 20.284 100 19.224 20.492 3
----------- ------ ------ ---- ------ ------ ---
LVIP U.S. Growth Allocation Managed Risk
2015...... 9.841 9.572 27 N/A N/A N/A
2016...... 9.572 9.863 52 9.129 9.879 2
----------- ------ ------ ---- ------ ------ ---
LVIP Vanguard Domestic Equity ETF
2011...... 9.068 9.400 2 N/A N/A N/A
2012...... 9.400 10.718 19 10.269 10.735 1*
2013...... 10.718 13.850 20 10.735 13.887 2
2014...... 13.850 15.387 23 13.887 15.443 1*
2015...... 15.387 15.187 18 15.443 15.257 1*
2016...... 15.187 16.861 20 15.257 16.956 1*
----------- ------ ------ ---- ------ ------ ---
LVIP Vanguard International Equity ETF
2011...... 8.884 8.387 4 N/A N/A N/A
2012...... 8.387 9.909 11 N/A N/A N/A
2013...... 9.909 11.258 13 N/A N/A N/A
2014...... 11.258 10.628 23 11.287 10.667 3
2015...... 10.628 10.212 21 N/A N/A N/A
2016...... 10.212 10.486 27 N/A N/A N/A
----------- ------ ------ ---- ------ ------ ---
LVIP VIP Mid Cap Managed Volatility(11)
2014...... N/A N/A N/A 9.364 10.190 3
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ ---- ------ ------ ---
LVIP Wellington Capital Growth
2008...... 9.425 6.223 549 9.471 6.233 22
2009...... 6.223 8.309 3,837 6.233 8.331 79
2010...... 8.309 9.786 8,448 8.331 9.821 157
2011...... 9.786 8.815 9,144 9.821 8.856 168
2012...... 8.815 10.392 8,420 8.856 10.450 154
2013...... 10.392 13.992 6,954 10.450 14.085 133
2014...... 13.992 15.429 5624 14.085 15.546 121
2015...... 15.429 16.714 4594 15.546 16.859 98
2016...... 16.714 16.565 4295 16.859 16.725 88
----------- ------ ------ ----- ------ ------ ---

A-15
<PAGE>

LVIP Wellington Mid-Cap Value
2008...... N/A N/A N/A 8.244 5.085 34
2009...... N/A N/A N/A 5.085 7.161 72
2010...... N/A N/A N/A 7.161 8.771 102
2011...... N/A N/A N/A 8.771 7.862 104
2012...... N/A N/A N/A 7.862 9.647 96
2013...... N/A N/A N/A 9.647 12.794 88
2014...... N/A N/A N/A 12.794 13.696 84
2015...... N/A N/A N/A 13.696 13.334 81
2016...... N/A N/A N/A 13.334 14.904 80
---------- -- --- --- ------ ------ ---
MFS (Reg. TM) VIT Growth
2008...... N/A N/A N/A N/A N/A N/A
2009...... N/A N/A N/A N/A N/A N/A
2010...... N/A N/A N/A 8.635 9.844 20
2011...... N/A N/A N/A 9.844 9.701 23
2012...... N/A N/A N/A 9.701 11.256 24
2013...... N/A N/A N/A 11.256 15.226 21
2014...... N/A N/A N/A 15.226 16.400 28
2015...... 16.954 17.180 1* 16.400 17.440 29
2016...... 17.180 17.362 1* 17.440 17.660 33
---------- ------ ------ --- ------ ------ ---
MFS (Reg. TM) VIT Total Return(9)
2008...... 10.367 8.481 5 10.039 8.044 126
2009...... 8.481 9.875 5 8.044 9.385 310
2010...... 9.875 10.708 7 9.385 10.197 560
2011...... 10.708 10.758 7 10.197 10.266 576
2012...... 10.758 11.804 7 10.266 11.286 556
2013...... 11.804 13.097 7 11.286 12.532 557
---------- ------ ------ --- ------ ------ ---
MFS (Reg. TM) VIT Total Return
2016...... N/A N/A N/A 14.875 15.137 29
---------- ------ ------ --- ------ ------ ---
MFS (Reg. TM) VIT Utilities
2008...... 14.240 8.891 5 11.929 8.093 68
2009...... 8.891 11.684 5 8.093 10.657 106
2010...... 11.684 13.118 7 10.657 11.988 136
2011...... 13.118 13.818 6 11.988 12.654 130
2012...... 13.818 15.473 9 12.654 14.197 128
2013...... 15.473 18.397 9 14.197 16.914 122
2014...... 18.397 20.464 8 16.914 18.852 115
2015...... 20.464 17.253 8 18.852 15.926 114
2016...... 17.253 18.982 5 15.926 17.557 109
---------- ------ ------ --- ------ ------ ---
PIMCO VIT CommodityRealReturn Strategy
2009...... N/A N/A N/A 10.887 12.557 1*
2010...... N/A N/A N/A 12.557 15.462 12
2011...... N/A N/A N/A 15.462 14.168 13
2012...... N/A N/A N/A 14.168 14.760 13
2013...... N/A N/A N/A 14.760 12.475 11
2014...... N/A N/A N/A 12.475 10.062 11
2015...... N/A N/A N/A 10.062 7.412 13
2016...... N/A N/A N/A 7.412 8.439 12
---------- ------ ------ --- ------ ------ ---
Templeton Global Bond VIP
2008...... 12.164 12.022 15 11.531 11.850 427
2009...... 12.022 14.112 22 11.850 13.938 986
2010...... 14.112 15.974 17 13.938 15.809 929
2011...... 15.974 15.662 17 15.809 15.531 833
2012...... 15.662 17.824 14 15.531 17.711 746
2013...... 17.824 17.916 14 17.711 17.838 749
2014...... 17.916 18.045 14 17.838 18.002 700
2015...... 18.045 17.079 12 18.002 17.073 649
2016...... 17.079 17.389 12 17.073 17.417 622
---------- ------ ------ --- ------ ------ ---

LVIP Wellington Mid-Cap Value
2008...... 8.253 5.098 59 8.194 5.106 13
2009...... 5.098 7.189 144 5.106 7.208 12
2010...... 7.189 8.818 196 7.208 8.850 20
2011...... 8.818 7.917 205 8.850 7.953 13
2012...... 7.917 9.729 183 7.953 9.784 11
2013...... 9.729 12.921 159 9.784 13.007 10
2014...... 12.921 13.853 147 13.007 13.959 5
2015...... 13.853 13.508 139 13.959 13.625 4
2016...... 13.508 15.121 141 13.625 15.267 5
----------- ------ ------ --- ------ ------ --
MFS (Reg. TM) VIT Growth
2008...... N/A N/A N/A N/A N/A N/A
2009...... 6.152 8.655 5 N/A N/A N/A
2010...... 8.655 9.881 30 8.668 9.906 3
2011...... 9.881 9.752 55 9.906 9.787 3
2012...... 9.752 11.332 62 9.787 11.384 1*
2013...... 11.332 15.352 77 11.384 15.438 4
2014...... 15.352 16.561 113 15.438 16.670 8
2015...... 16.561 17.637 107 16.670 17.771 8
2016...... 17.637 17.887 118 17.771 18.040 10
----------- ------ ------ ---- ------ ------ ---
MFS (Reg. TM) VIT Total Return(9)
2008...... 9.970 8.070 534 10.070 8.087 54
2009...... 8.070 9.429 1,334 8.087 9.458 70
2010...... 9.429 10.260 2,003 9.458 10.302 77
2011...... 10.260 10.345 1,956 10.302 10.398 79
2012...... 10.345 11.390 1,879 10.398 11.460 63
2013...... 11.390 12.654 1,778 11.460 12.737 56
----------- ------ ------ ----- ------ ------ ---
MFS (Reg. TM) VIT Total Return
2016...... 14.226 15.364 27 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
MFS (Reg. TM) VIT Utilities
2008...... 11.797 8.119 247 12.301 8.136 40
2009...... 8.119 10.707 375 8.136 10.740 30
2010...... 10.707 12.063 449 10.740 12.112 27
2011...... 12.063 12.751 435 12.112 12.817 21
2012...... 12.751 14.328 380 12.817 14.416 19
2013...... 14.328 17.096 333 14.416 17.218 19
2014...... 17.096 19.084 281 17.218 19.239 14
2015...... 19.084 16.146 264 19.239 16.294 12
2016...... 16.146 17.826 241 16.294 18.007 7
----------- ------ ------ ----- ------ ------ ---
PIMCO VIT CommodityRealReturn Strategy
2009...... 11.195 12.569 5 11.659 12.578 1*
2010...... 12.569 15.500 39 12.578 15.526 2
2011...... 15.500 14.224 21 15.526 14.262 1*
2012...... 14.224 14.841 23 14.262 14.895 1*
2013...... 14.841 12.562 17 14.895 12.621 1*
2014...... 12.562 10.147 12 12.621 10.204 1*
2015...... 10.147 7.486 10 10.204 7.537 2
2016...... 7.486 8.536 8 7.537 8.601 2
----------- ------ ------ ----- ------ ------ ---
Templeton Global Bond VIP
2008...... 11.397 11.888 1,930 11.564 11.913 117
2009...... 11.888 14.003 4,570 11.913 14.047 169
2010...... 14.003 15.907 4,059 14.047 15.972 176
2011...... 15.907 15.650 3,612 15.972 15.730 150
2012...... 15.650 17.874 3,253 15.730 17.983 140
2013...... 17.874 18.029 3,199 17.983 18.158 140
2014...... 18.029 18.222 2777 18.158 18.371 126
2015...... 18.222 17.308 2409 18.371 17.466 107
2016...... 17.308 17.683 2261 17.466 17.863 94
----------- ------ ------ ----- ------ ------ ---

* The numbers of accumulation units less than 500 were rounded up to one.

** This table reflects the accumulation unit values and the number of
accumulation units for both the ChoicePlus Assurance A Share and
ChoicePlus Assurance A Class.

A-16
<PAGE>

(1) On May 17, 2013, this Subaccount was closed and the values were
transferred to the LVIP SSGA S&P 500 Index Fund Subaccount.

(2) On May 17, 2013, this Subaccount was closed and the values were
transferred to the LVIP Mondrian International Value Fund Subaccount.

(3) On May 17, 2013, this Subaccount was closed and the values were
transferred to the LVIP BlackRock Inflation Protected Bond Fund Subaccount.

(4) Effective October 9, 2010, the Delaware VIP (Reg. TM) Trend Series was
reorganized into the Delaware VIP (Reg. TM) Smid Cap Growth Series. The
values in the table for periods prior to the date of the reorganization
reflect investments in the Delaware VIP (Reg. TM) Trend Series.

(5) On May 17, 2013, this Subaccount was closed and the values were
transferred to the LVIP SSGA International Index Fund Subaccount.

(6) On May 17, 2013, this Subaccount was closed and the values were
transferred to the LVIP SSGA Small-Cap Index Fund Subaccount.

(7) Effective June 15, 2009, the LVIP UBS Global Asset Allocation Fund was
reorganized into the LVIP Delaware Foundation Aggressive Allocation Fund.
The values in the table for periods prior to the date of the
reorganization reflect investments in the LVIP UBS Global Asset
Allocation Fund.

(8) Effective July 30, 2010, the LVIP Wilshire Aggressive Profile Fund was
restructured into the LVIP SSGA Global Tactical Allocation Managed
Volatility Fund. The values in the table for periods prior to the date of
the restructuring reflect investments in the LVIP Wilshire Aggressive
Profile Fund.

(9) On May 17, 2013, this Subaccount was closed and the values were
transferred to the LVIP SSGA Moderate Structured Allocation Fund Subaccount.

(10) On December 9, 2016, this Subaccount was closed and the values were
transferred to the LVIP SSGA International Managed Volatility Fund Subaccount.

(11) On December 9, 2016, this Subaccount was closed and the values were
transferred to the LVIP Blended Mid Cap Managed Volatility Fund Subaccount.

A-17
<PAGE>

[THIS PAGE INTENTIONALLY LEFT BLANK]
<PAGE>

Appendix B - Condensed Financial Information

Accumulation Unit Values
The following information relates to Accumulation Unit values and number of
Accumulation Units for contracts purchased on or after November 15, 2010 for
funds available in the periods ended December 31. It should be read along with
the VAA's financial statement and notes which are included in the SAI.**

With EEB with EGMDB
---------------------------------- ----------------------------------
Accumulation Unit Accumulation Unit
value value
-------------------- Number of -------------------- Number of
Beginning End of Accumulation Beginning End of Accumulation
of period period Units of period period Units
----------- -------- ------------- ----------- -------- -------------
(Accumulation Unit value in dollars and Number of Accumulation Units
in thousands)

AB VPS Global Thematic Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.955 8.302 6
2012...... N/A N/A N/A 8.302 9.303 10
2013...... N/A N/A N/A 9.303 11.317 5
2014...... 12.574 13.145 1* 11.317 11.737 5
2015...... N/A N/A N/A 11.737 11.922 9
2016...... N/A N/A N/A 11.922 11.694 8
---------- ------ ------ --- ------ ------ ---
AB VPS Growth and Income(1)
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 8.298 8.710 21
2012...... N/A N/A N/A 8.710 10.105 20
2013...... N/A N/A N/A 10.105 11.837 22
---------- ------ ------ --- ------ ------ ---
AB VPS International Value(2)
2010...... N/A N/A N/A 6.942 7.099 17
2011...... 7.808 6.212 20 7.099 5.659 751
2012...... 6.212 7.006 20 5.659 6.395 752
2013...... 7.006 7.721 20 6.395 7.053 717
---------- ------ ------ --- ------ ------ ---
AB VPS Small/Mid Cap Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 11.378 10.288 32
2012...... N/A N/A N/A 10.288 12.061 41
2013...... N/A N/A N/A 12.061 16.427 48
2014...... 20.896 20.795 4 16.427 17.709 52
2015...... 20.795 19.367 6 17.709 16.527 47
2016...... 19.367 23.869 3 16.527 20.409 44
---------- ------ ------ --- ------ ------ ---
American Century VP Balanced
2016...... N/A N/A N/A 10.350 10.427 13
---------- ------ ------ --- ------ ------ ---
American Funds Global Growth
2010...... N/A N/A N/A 10.946 11.135 2
2011...... 14.554 13.096 2 11.135 10.040 108
2012...... 13.096 15.851 3 10.040 12.176 134
2013...... 15.851 20.222 3 12.176 15.565 151
2014...... 20.222 20.433 7 15.565 15.758 164
2015...... 20.433 21.579 9 15.758 16.676 170
2016...... 21.579 21.443 17 16.676 16.604 182
---------- ------ ------ --- ------ ------ ---
American Funds Global Small Capitalization
2010...... N/A N/A N/A 10.970 11.101 14
2011...... 15.631 12.481 15 11.101 8.882 782
2012...... 12.481 14.567 17 8.882 10.387 946
2013...... 14.567 18.454 18 10.387 13.185 880
2014...... 18.454 18.612 25 13.185 13.324 941
2015...... 18.612 18.429 26 13.324 13.220 915
2016...... 18.429 18.582 26 13.220 13.356 873
---------- ------ ------ --- ------ ------ ---
American Funds Growth
2010...... N/A N/A N/A 9.863 10.052 4
2011...... 12.130 11.467 7 10.052 9.521 308
2012...... 11.467 13.350 6 9.521 11.108 350
2013...... 13.350 17.153 5 11.108 14.300 324
2014...... 17.153 18.382 7 14.300 15.355 328
2015...... 18.382 19.398 17 15.355 16.237 323
2016...... 19.398 20.975 15 16.237 17.592 319
---------- ------ ------ --- ------ ------ ---

AB VPS Global Thematic Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.294 9.340 12 N/A N/A N/A
2012...... 9.340 10.493 16 N/A N/A N/A
2013...... 10.493 12.796 16 N/A N/A N/A
2014...... 12.796 13.304 18 N/A N/A N/A
2015...... 13.304 13.547 18 N/A N/A N/A
2016...... 13.547 13.322 15 N/A N/A N/A
----------- ------ ------ ---- -- --- ---
AB VPS Growth and Income(1)
2010...... 10.969 11.194 1* N/A N/A N/A
2011...... 11.194 11.779 50 N/A N/A N/A
2012...... 11.779 13.700 42 N/A N/A N/A
2013...... 13.700 16.063 41 N/A N/A N/A
----------- ------ ------ ---- -- --- ---
AB VPS International Value(2)
2010...... 11.346 11.581 42 7.183 7.187 1*
2011...... 11.581 9.255 1,684 7.187 5.747 13
2012...... 9.255 10.485 1,666 5.747 6.514 12
2013...... 10.485 11.575 1,570 6.514 7.192 12
----------- ------ ------ ----- ----- ----- ---
AB VPS Small/Mid Cap Value
2010...... 11.140 11.131 2 N/A N/A N/A
2011...... 11.131 10.090 44 11.519 10.447 1*
2012...... 10.090 11.859 55 10.447 12.284 1*
2013...... 11.859 16.192 69 12.284 16.781 1*
2014...... 16.192 17.500 64 16.781 18.145 1*
2015...... 17.500 16.372 54 18.145 16.984 1*
2016...... 16.372 20.268 57 16.984 21.037 1*
----------- ------ ------ ----- ------ ------ ---
American Century VP Balanced
2016...... 10.100 10.444 7 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
American Funds Global Growth
2010...... 11.511 11.739 8 N/A N/A N/A
2011...... 11.739 10.611 353 11.273 10.195 3
2012...... 10.611 12.901 465 10.195 12.402 5
2013...... 12.901 16.532 460 12.402 15.900 6
2014...... 16.532 16.780 494 15.900 16.147 8
2015...... 16.780 17.801 475 16.147 17.138 13
2016...... 17.801 17.769 494 17.138 17.115 12
----------- ------ ------ ----- ------ ------ ---
American Funds Global Small Capitalization
2010...... 11.764 11.951 48 11.181 11.239 1*
2011...... 11.951 9.586 2,854 11.239 9.019 19
2012...... 9.586 11.239 3,588 9.019 10.579 25
2013...... 11.239 14.302 3,268 10.579 13.469 45
2014...... 14.302 14.489 3313 13.469 13.652 50
2015...... 14.489 14.412 3096 13.652 13.586 47
2016...... 14.412 14.597 2948 13.586 13.768 47
----------- ------ ------ ----- ------ ------ ---
American Funds Growth
2010...... 11.322 11.593 39 10.186 10.177 1*
2011...... 11.593 11.008 1,096 10.177 9.669 6
2012...... 11.008 12.874 1,257 9.669 11.313 6
2013...... 12.874 16.617 1,144 11.313 14.609 9
2014...... 16.617 17.887 1128 14.609 15.733 9
2015...... 17.887 18.961 1005 15.733 16.687 15
2016...... 18.961 20.595 984 16.687 18.133 14
----------- ------ ------ ----- ------ ------ ---

B-1
<PAGE>

American Funds Growth-Income
2010...... N/A N/A N/A 8.968 9.195 28
2011...... 10.937 10.604 23 9.195 8.932 1,601
2012...... 10.604 12.303 33 8.932 10.384 2,041
2013...... 12.303 16.220 37 10.384 13.718 1,962
2014...... 16.220 17.722 53 13.718 15.019 2011
2015...... 17.722 17.757 56 15.019 15.078 1966
2016...... 17.757 19.557 56 15.078 16.640 1878
---------- ------ ------ --- ------ ------ -----
American Funds International
2010...... N/A N/A N/A 10.500 10.681 2
2011...... 14.352 12.194 3 10.681 9.093 381
2012...... 12.194 14.199 7 9.093 10.610 701
2013...... 14.199 17.057 14 10.610 12.770 849
2014...... 17.057 16.398 27 12.770 12.301 1044
2015...... 16.398 15.461 33 12.301 11.622 1087
2016...... 15.461 15.808 29 11.622 11.907 1045
---------- ------ ------ --- ------ ------ -----
BlackRock Global Allocation V.I.
2010...... N/A N/A N/A 12.512 12.613 2
2011...... 12.572 11.964 4 12.613 12.026 168
2012...... 11.964 12.993 3 12.026 13.087 175
2013...... 12.993 14.681 2 13.087 14.817 164
2014...... 14.681 14.779 12 14.817 14.946 165
2015...... 14.779 14.449 25 14.946 14.642 159
2016...... 14.449 14.813 15 14.642 15.040 152
---------- ------ ------ --- ------ ------ -----
ClearBridge Variable Mid Cap
2014...... N/A N/A N/A 10.257 10.580 1*
2015...... N/A N/A N/A 10.580 10.677 3
2016...... N/A N/A N/A 10.677 11.528 3
---------- ------ ------ --- ------ ------ -----
Delaware VIP Diversified Income
2010...... N/A N/A N/A 13.454 13.505 12
2011...... 13.882 14.553 13 13.505 14.186 575
2012...... 14.553 15.361 15 14.186 15.003 702
2013...... 15.361 14.954 15 15.003 14.635 781
2014...... 14.954 15.504 18 14.635 15.204 768
2015...... 15.504 15.107 18 15.204 14.844 753
2016...... 15.107 15.409 27 14.844 15.171 765
---------- ------ ------ --- ------ ------ -----
Delaware VIP Emerging Markets
2010...... N/A N/A N/A 11.479 11.844 1*
2011...... N/A N/A N/A 11.844 9.376 102
2012...... 16.947 17.992 1* 9.376 10.595 121
2013...... 17.992 19.521 1* 10.595 11.518 117
2014...... 19.521 17.685 1* 11.518 10.455 113
2015...... 17.685 14.885 2 10.455 8.817 119
2016...... 14.885 16.711 2 8.817 9.919 104
---------- ------ ------ --- ------ ------ -----
Delaware VIP Limited-Term Diversified Income
2010...... N/A N/A N/A 11.707 11.702 32
2011...... 11.852 12.004 53 11.702 11.876 1,711
2012...... 12.004 12.154 59 11.876 12.049 2,260
2013...... 12.154 11.843 66 12.049 11.765 2,610
2014...... 11.843 11.865 82 11.765 11.810 2757
2015...... 11.865 11.792 86 11.810 11.760 2694
2016...... 11.792 11.847 94 11.760 11.839 2552
---------- ------ ------ --- ------ ------ -----
Delaware VIP REIT
2010...... N/A N/A N/A 8.428 8.410 1*
2011...... N/A N/A N/A 8.410 9.206 19
2012...... N/A N/A N/A 9.206 10.623 23
2013...... N/A N/A N/A 10.623 10.714 29
2014...... N/A N/A N/A 10.714 13.689 25
2015...... 19.302 18.548 1* 13.689 14.024 26
2016...... 18.548 19.346 4 14.024 14.656 29
---------- ------ ------ --- ------ ------ -----

American Funds Growth-Income
2010...... 10.791 11.066 98 9.320 9.309 1*
2011...... 11.066 10.777 4,884 9.309 9.070 33
2012...... 10.777 12.560 6,554 9.070 10.576 117
2013...... 12.560 16.634 6,027 10.576 14.014 87
2014...... 16.634 18.256 5722 14.014 15.389 94
2015...... 18.256 18.374 5418 15.389 15.496 112
2016...... 18.374 20.328 4965 15.496 17.152 107
----------- ------ ------ ----- ------ ------ ---
American Funds International
2010...... 11.697 11.855 4 N/A N/A N/A
2011...... 11.855 10.118 1,594 10.814 9.234 18
2012...... 10.118 11.835 3,075 9.234 10.806 33
2013...... 11.835 14.280 3,329 10.806 13.046 80
2014...... 14.280 13.791 3622 13.046 12.605 92
2015...... 13.791 13.062 3654 12.605 11.944 97
2016...... 13.062 13.415 3513 11.944 12.274 98
----------- ------ ------ ----- ------ ------ ---
BlackRock Global Allocation V.I.
2010...... 10.818 11.045 10 N/A N/A N/A
2011...... 11.045 10.558 798 12.674 12.121 3
2012...... 10.558 11.518 920 12.121 13.230 5
2013...... 11.518 13.073 969 13.230 15.024 4
2014...... 13.073 13.220 975 15.024 15.200 6
2015...... 13.220 12.983 922 15.200 14.935 9
2016...... 12.983 13.370 917 14.935 15.388 9
----------- ------ ------ ----- ------ ------ ---
ClearBridge Variable Mid Cap
2014...... 10.024 10.597 6 N/A N/A N/A
2015...... 10.597 10.721 39 N/A N/A N/A
2016...... 10.721 11.605 6 9.989 11.620 1*
----------- ------ ------ ----- ------ ------ ---
Delaware VIP Diversified Income
2010...... 10.269 10.337 63 13.624 13.672 1*
2011...... 10.337 10.886 3,003 13.672 14.405 16
2012...... 10.886 11.542 3,969 14.405 15.280 24
2013...... 11.542 11.287 4,353 15.280 14.951 31
2014...... 11.287 11.755 4233 14.951 15.578 32
2015...... 11.755 11.505 4023 15.578 15.255 30
2016...... 11.505 11.788 3907 15.255 15.638 29
----------- ------ ------ ----- ------ ------ ---
Delaware VIP Emerging Markets
2010...... 12.011 12.427 4 N/A N/A N/A
2011...... 12.427 9.862 549 11.973 9.507 4
2012...... 9.862 11.171 722 9.507 10.775 6
2013...... 11.171 12.175 702 10.775 11.748 7
2014...... 12.175 11.080 734 11.748 10.697 9
2015...... 11.080 9.367 757 10.697 9.048 10
2016...... 9.367 10.564 689 9.048 10.209 10
----------- ------ ------ ----- ------ ------ ---
Delaware VIP Limited-Term Diversified Income
2010...... 10.154 10.162 154 11.834 11.848 1*
2011...... 10.162 10.339 7,723 11.848 12.060 42
2012...... 10.339 10.515 11,091 12.060 12.272 127
2013...... 10.515 10.293 12,533 12.272 12.018 158
2014...... 10.293 10.358 12691 12.018 12.101 167
2015...... 10.358 10.340 12129 12.101 12.086 155
2016...... 10.340 10.436 11581 12.086 12.204 154
----------- ------ ------ ------ ------ ------ ---
Delaware VIP REIT
2010...... N/A N/A N/A 8.533 8.515 1*
2011...... 11.046 12.121 23 8.515 9.348 1*
2012...... 12.121 14.022 43 9.348 10.820 2
2013...... 14.022 14.178 50 10.820 10.945 60
2014...... 14.178 18.160 44 10.945 14.027 60
2015...... 18.160 18.650 41 14.027 14.413 60
2016...... 18.650 19.541 54 14.413 15.108 61
----------- ------ ------ ------ ------ ------ ---

B-2
<PAGE>

Delaware VIP Small Cap Value
2010...... N/A N/A N/A 11.665 11.724 1*
2011...... N/A N/A N/A 11.724 11.417 63
2012...... 14.032 14.488 2 11.417 12.838 73
2013...... 14.488 19.055 1* 12.838 16.918 69
2014...... 19.055 19.875 3 16.918 17.682 62
2015...... 19.875 18.360 4 17.682 16.367 58
2016...... 18.360 23.768 1* 16.367 21.230 51
---------- ------ ------ --- ------ ------ --
Delaware VIP Smid Cap Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 11.571 12.354 10
2012...... N/A N/A N/A 12.354 13.535 17
2013...... N/A N/A N/A 13.535 18.881 20
2014...... 21.050 23.180 2 18.881 19.220 24
2015...... 23.180 24.565 3 19.220 20.410 22
2016...... 24.565 26.204 2 20.410 21.815 23
---------- ------ ------ --- ------ ------ ---
Delaware VIP U.S. Growth
2010...... N/A N/A N/A 9.939 9.982 18
2011...... 10.417 11.059 19 9.982 10.618 806
2012...... 11.059 12.664 20 10.618 12.184 936
2013...... 12.664 16.815 24 12.184 16.209 881
2014...... 16.815 18.679 28 16.209 18.043 863
2015...... 18.679 19.384 30 18.043 18.761 818
2016...... 19.384 18.091 30 18.761 17.545 799
---------- ------ ------ --- ------ ------ ---
Delaware VIP Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 8.591 9.288 31
2012...... N/A N/A N/A 9.288 10.518 39
2013...... N/A N/A N/A 10.518 13.882 36
2014...... N/A N/A N/A 13.882 15.619 31
2015...... N/A N/A N/A 15.619 15.357 37
2016...... 18.717 21.084 1* 15.357 17.373 42
---------- ------ ------ --- ------ ------ ---
Deutsche Alternative Asset Allocation VIP
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 12.881 13.271 1*
2013...... N/A N/A N/A 13.271 13.231 5
2014...... N/A N/A N/A 13.231 13.517 1*
2015...... N/A N/A N/A 13.517 12.501 1*
2016...... N/A N/A N/A 12.501 12.987 1*
---------- ------ ------ --- ------ ------ ---
Fidelity VIP Contrafund
2010...... N/A N/A N/A 10.112 10.258 3
2011...... 12.548 12.047 2 10.258 9.869 195
2012...... 12.047 13.817 5 9.869 11.342 250
2013...... 13.817 17.870 4 11.342 14.697 257
2014...... 17.870 19.704 9 14.697 16.239 241
2015...... 19.704 19.540 14 16.239 16.136 228
2016...... 19.540 20.789 7 16.136 17.202 220
---------- ------ ------ --- ------ ------ ---
Fidelity VIP Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.012 9.905 2
2012...... N/A N/A N/A 9.905 11.213 11
2013...... N/A N/A N/A 11.213 15.090 12
2014...... N/A N/A N/A 15.090 16.577 15
2015...... N/A N/A N/A 16.577 17.536 19
2016...... 17.655 19.406 3 17.536 17.449 18
---------- ------ ------ --- ------ ------ ---

Delaware VIP Small Cap Value
2010...... 11.603 11.757 2 N/A N/A N/A
2011...... 11.757 11.477 375 11.813 11.538 2
2012...... 11.477 12.938 458 11.538 13.014 6
2013...... 12.938 17.093 389 13.014 17.201 6
2014...... 17.093 17.909 380 17.201 18.031 7
2015...... 17.909 16.618 326 18.031 16.740 6
2016...... 16.618 21.611 307 16.740 21.780 6
----------- ------ ------ --- ------ ------ ---
Delaware VIP Smid Cap Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.217 13.077 55 N/A N/A N/A
2012...... 13.077 14.362 93 13.398 13.785 1*
2013...... 14.362 20.086 84 13.785 19.288 1*
2014...... 20.086 20.498 74 19.288 19.693 1*
2015...... 20.498 21.821 69 19.693 20.975 1*
2016...... 21.821 23.382 73 20.975 22.487 1*
----------- ------ ------ ---- ------ ------ ---
Delaware VIP U.S. Growth
2010...... 11.510 11.475 61 10.169 10.105 1*
2011...... 11.475 12.238 2,695 10.105 10.782 18
2012...... 12.238 14.078 3,278 10.782 12.409 26
2013...... 14.078 18.776 2,994 12.409 16.559 41
2014...... 18.776 20.952 2747 16.559 18.487 44
2015...... 20.952 21.840 2484 18.487 19.281 41
2016...... 21.840 20.476 2436 19.281 18.085 42
----------- ------ ------ ----- ------ ------ ---
Delaware VIP Value
2010...... 11.298 11.318 2 N/A N/A N/A
2011...... 11.318 12.267 16 N/A N/A N/A
2012...... 12.267 13.926 26 10.429 10.713 1*
2013...... 13.926 18.426 32 10.713 14.182 1*
2014...... 18.426 20.783 34 14.182 16.004 1*
2015...... 20.783 20.486 30 16.004 15.783 1*
2016...... 20.486 23.233 37 15.783 17.908 1*
----------- ------ ------ ----- ------ ------ ---
Deutsche Alternative Asset Allocation VIP
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.106 10.674 2 N/A N/A N/A
2012...... 10.674 11.580 3 N/A N/A N/A
2013...... 11.580 11.574 9 N/A N/A N/A
2014...... 11.574 11.854 8 13.681 13.746 1*
2015...... 11.854 10.990 5 N/A N/A N/A
2016...... 10.990 11.446 5 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
Fidelity VIP Contrafund
2010...... 11.040 11.376 14 N/A N/A N/A
2011...... 11.376 10.971 914 10.386 10.021 7
2012...... 10.971 12.640 1,152 10.021 11.552 32
2013...... 12.640 16.421 1,050 11.552 15.015 7
2014...... 16.421 18.189 964 15.015 16.639 8
2015...... 18.189 18.119 892 16.639 16.584 6
2016...... 18.119 19.364 866 16.584 17.732 7
----------- ------ ------ ----- ------ ------ ---
Fidelity VIP Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.809 11.711 14 N/A N/A N/A
2012...... 11.711 13.291 25 N/A N/A N/A
2013...... 13.291 17.932 25 N/A N/A N/A
2014...... 17.932 19.748 32 N/A N/A N/A
2015...... 19.748 20.944 35 N/A N/A N/A
2016...... 20.944 20.891 37 16.811 17.986 1*
----------- ------ ------ ----- ------ ------ ---

B-3
<PAGE>

Fidelity VIP Mid Cap
2010...... N/A N/A N/A 12.152 12.147 3
2011...... 15.320 13.487 1* 12.147 10.715 165
2012...... 13.487 15.259 4 10.715 12.147 213
2013...... 15.259 20.476 5 12.147 16.332 215
2014...... 20.476 21.441 6 16.332 17.137 231
2015...... 21.441 20.830 7 17.137 16.681 221
2016...... 20.830 23.024 13 16.681 18.475 200
---------- ------ ------ --- ------ ------ ---
Fidelity VIP Overseas(3)
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 9.486 7.759 4
2012...... N/A N/A N/A 7.759 9.243 3
2013...... N/A N/A N/A 9.243 10.338 8
---------- ------ ------ --- ------ ------ ----
Franklin Income VIP
2010...... N/A N/A N/A 10.693 10.899 5
2011...... 11.932 12.065 7 10.899 11.043 205
2012...... 12.065 13.423 6 11.043 12.310 253
2013...... 13.423 15.104 5 12.310 13.880 270
2014...... 15.104 15.605 15 13.880 14.369 292
2015...... 15.605 14.324 22 14.369 13.215 298
2016...... 14.324 16.130 12 13.215 14.911 274
---------- ------ ------ --- ------ ------ ----
Franklin Mutual Shares VIP
2010...... N/A N/A N/A 8.727 8.968 24
2011...... 9.800 9.577 29 8.968 8.782 1,527
2012...... 9.577 10.805 37 8.782 9.928 1,819
2013...... 10.805 13.687 40 9.928 12.601 1,721
2014...... 13.687 14.479 53 12.601 13.357 1726
2015...... 14.479 13.594 56 13.357 12.565 1702
2016...... 13.594 15.581 53 12.565 14.431 1519
---------- ------ ------ --- ------ ------ -----
FTVIPT Franklin Small-Mid Cap Growth Securities(4)
2010...... N/A N/A N/A N/A N/A N/A
2011...... 13.121 12.332 2 11.101 10.454 31
2012...... 12.332 13.500 2 10.454 11.467 31
2013...... 13.500 15.755 2 11.467 13.393 28
---------- ------ ------ --- ------ ------ -----
Invesco V.I. International Growth
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A 10.141 9.296 7
2016...... 9.485 9.086 1* 9.296 9.135 8
---------- ------ ------ --- ------ ------ -----
JPMorgan Insurance Trust Global Allocation
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ -----
LVIP American Century Select Mid Cap Managed Volatility
2014...... N/A N/A N/A 10.227 11.258 1*
2015...... N/A N/A N/A 11.258 10.668 5
2016...... N/A N/A N/A 10.668 12.397 4
---------- ------ ------ --- ------ ------ -----
LVIP American Global Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ -----
LVIP American Global Small Capitalization
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ -----

Fidelity VIP Mid Cap
2010...... 11.783 11.862 10 N/A N/A N/A
2011...... 11.862 10.490 682 12.297 10.881 3
2012...... 10.490 11.922 900 10.881 12.372 16
2013...... 11.922 16.069 813 12.372 16.685 6
2014...... 16.069 16.903 809 16.685 17.559 7
2015...... 16.903 16.495 738 17.559 17.144 7
2016...... 16.495 18.315 713 17.144 19.044 7
----------- ------ ------ --- ------ ------ ---
Fidelity VIP Overseas(3)
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.298 10.085 16 N/A N/A N/A
2012...... 10.085 12.043 15 N/A N/A N/A
2013...... 12.043 13.482 14 N/A N/A N/A
----------- ------ ------ ---- ------ ------ ---
Franklin Income VIP
2010...... 10.709 10.948 15 N/A N/A N/A
2011...... 10.948 11.119 726 11.035 11.213 3
2012...... 11.119 12.426 908 11.213 12.538 3
2013...... 12.426 14.046 867 12.538 14.179 3
2014...... 14.046 14.577 845 14.179 14.722 3
2015...... 14.577 13.441 853 14.722 13.582 8
2016...... 13.441 15.204 812 13.582 15.370 6
----------- ------ ------ ---- ------ ------ ---
Franklin Mutual Shares VIP
2010...... 10.566 10.812 92 9.114 9.080 1*
2011...... 10.812 10.614 4,683 9.080 8.918 42
2012...... 10.614 12.029 5,912 8.918 10.112 57
2013...... 12.029 15.306 5,452 10.112 12.873 75
2014...... 15.306 16.265 5227 12.873 13.686 82
2015...... 16.265 15.339 5053 13.686 12.914 79
2016...... 15.339 17.660 4480 12.914 14.875 77
----------- ------ ------ ----- ------ ------ ---
FTVIPT Franklin Small-Mid Cap Growth Securities(4)
2010...... 11.859 11.988 1* 11.286 11.238 1*
2011...... 11.988 11.318 74 11.238 10.616 1*
2012...... 11.318 12.446 75 10.616 11.680 1*
2013...... 12.446 14.550 73 11.680 13.656 1*
----------- ------ ------ ----- ------ ------ ---
Invesco V.I. International Growth
2014...... 10.238 9.662 21 N/A N/A N/A
2015...... 9.662 9.334 45 9.839 9.341 3
2016...... 9.334 9.195 63 9.341 9.207 3
----------- ------ ------ ----- ------ ------ ---
JPMorgan Insurance Trust Global Allocation
2015...... 9.375 9.473 1* N/A N/A N/A
2016...... 9.473 9.946 1* N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP American Century Select Mid Cap Managed Volatility
2014...... 10.764 11.287 8 N/A N/A N/A
2015...... 11.287 10.722 18 N/A N/A N/A
2016...... 10.722 12.491 24 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP American Global Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.413 11.174 7 N/A N/A N/A
2012...... 11.174 13.536 8 N/A N/A N/A
2013...... 13.536 17.280 10 N/A N/A N/A
2014...... 17.280 17.463 10 N/A N/A N/A
2015...... 17.463 18.463 10 17.191 18.514 1*
2016...... 18.463 18.359 10 18.514 18.419 1*
----------- ------ ------ ----- ------ ------ ---
LVIP American Global Small Capitalization
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.800 10.224 11 12.804 10.232 1*
2012...... 10.224 11.944 27 10.232 11.960 1*
2013...... 11.944 15.141 27 11.960 15.168 1*
2014...... 15.141 15.275 27 15.168 15.309 1*
2015...... 15.275 15.130 28 15.309 15.171 1*
2016...... 15.130 15.262 29 15.171 15.309 1*
----------- ------ ------ ----- ------ ------ ---

B-4
<PAGE>

LVIP American Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ -------- -- --- ---
LVIP American Growth-Income
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 17.485 17.989 1*
2014...... N/A N/A N/A 17.989 19.629 1*
2015...... N/A N/A N/A 19.629 19.641 2
2016...... N/A N/A N/A 19.641 21.604 2
---------- ------ ------ -------- ------ ------ ---
LVIP American International
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ -------- ------ ------ ---
LVIP Baron Growth Opportunities
2010...... N/A N/A N/A 10.670 10.585 1*
2011...... N/A N/A N/A 10.585 10.896 11
2012...... N/A N/A N/A 10.896 12.749 11
2013...... N/A N/A N/A 12.749 17.670 13
2014...... N/A N/A N/A 17.670 18.335 14
2015...... 18.878 18.002 1* 18.335 17.277 12
2016...... N/A N/A N/A 17.277 18.049 12
---------- ------ ------ --- ------ ------ ---
LVIP BlackRock Dividend Value Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 9.054 8.707 1*
2012...... N/A N/A N/A 8.707 10.054 1*
2013...... N/A N/A N/A 10.054 11.732 13
2014...... N/A N/A N/A 11.732 11.984 23
2015...... N/A N/A N/A 11.984 11.255 33
2016...... N/A N/A N/A 11.255 12.438 64
---------- ------ ------ --- ------ ------ ---
LVIP BlackRock Emerging Markets Managed Volatility(6)
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 10.688 9.994 5
2014...... N/A N/A N/A 9.994 9.382 6
2015...... N/A N/A N/A 9.382 7.871 6
2016...... N/A N/A N/A 7.871 8.314 10
---------- ------ ------ --- ------ ------ ---
LVIP BlackRock Global Allocation V.I. Managed Risk
2013...... N/A N/A N/A 9.998 10.444 2
2014...... N/A N/A N/A 10.444 10.278 12
2015...... N/A N/A N/A 10.278 9.697 13
2016...... N/A N/A N/A 9.697 9.836 13
---------- ------ ------ --- ------ ------ ---
LVIP BlackRock Global Growth ETF Allocation Managed Risk
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP BlackRock Inflation Protected Bond
2010...... N/A N/A N/A 10.120 10.134 2
2011...... 10.121 11.183 1* 10.134 11.219 119
2012...... 11.183 11.733 1* 11.219 11.795 204
2013...... 11.733 10.594 1* 11.795 10.671 199
2014...... 10.594 10.764 1* 10.671 10.864 225
2015...... 10.764 10.310 1* 10.864 10.427 221
2016...... 10.310 10.520 1* 10.427 10.661 222
---------- ------ ------ --- ------ ------ ---

LVIP American Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.529 11.848 5 N/A N/A N/A
2012...... 11.848 13.804 11 N/A N/A N/A
2013...... 13.804 17.755 18 N/A N/A N/A
2014...... 17.755 19.046 19 N/A N/A N/A
2015...... 19.046 20.116 20 N/A N/A N/A
2016...... 20.116 21.772 21 N/A N/A N/A
----------- ------ ------ --- -- --- --------
LVIP American Growth-Income
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.212 11.844 8 N/A N/A N/A
2012...... 11.844 13.752 11 N/A N/A N/A
2013...... 13.752 18.148 16 N/A N/A N/A
2014...... 18.148 19.851 15 N/A N/A N/A
2015...... 19.851 19.914 15 N/A N/A N/A
2016...... 19.914 21.958 15 N/A N/A N/A
----------- ------ ------ --- -- --- --------
LVIP American International
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.305 10.458 2 12.308 10.467 1*
2012...... 10.458 12.186 5 10.467 12.202 1*
2013...... 12.186 14.645 10 12.202 14.672 1*
2014...... 14.645 14.093 10 14.672 14.125 1*
2015...... 14.093 13.304 10 14.125 13.341 1*
2016...... 13.304 13.613 11 13.341 13.659 1*
----------- ------ ------ --- ------ ------ ---
LVIP Baron Growth Opportunities
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.628 12.000 38 N/A N/A N/A
2012...... 12.000 14.076 52 12.815 12.985 3
2013...... 14.076 19.558 78 12.985 18.052 5
2014...... 19.558 20.344 79 18.052 18.786 7
2015...... 20.344 19.219 60 18.786 17.756 7
2016...... 19.219 20.128 54 17.756 18.606 6
----------- ------ ------ --- ------ ------ ---
LVIP BlackRock Dividend Value Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.205 10.803 1* N/A N/A N/A
2012...... 10.803 12.505 25 10.219 10.240 1*
2013...... 12.505 14.629 75 10.240 11.985 1*
2014...... 14.629 14.980 118 11.985 12.279 1*
2015...... 14.980 14.104 132 12.279 11.567 1*
2016...... 14.104 15.626 266 11.567 12.821 1*
----------- ------ ------ --- ------ ------ ---
LVIP BlackRock Emerging Markets Managed Volatility(6)
2012...... 10.200 11.003 1* N/A N/A N/A
2013...... 11.003 10.028 12 N/A N/A N/A
2014...... 10.028 9.437 47 N/A N/A N/A
2015...... 9.437 7.937 73 N/A N/A N/A
2016...... 7.937 8.404 87 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP BlackRock Global Allocation V.I. Managed Risk
2013...... 9.592 10.461 2 N/A N/A N/A
2014...... 10.461 10.320 29 N/A N/A N/A
2015...... 10.320 9.761 38 10.415 9.773 1*
2016...... 9.761 9.925 61 9.773 9.943 1*
----------- ------ ------ --- ------ ------ ---
LVIP BlackRock Global Growth ETF Allocation Managed Risk
2016...... 10.338 10.187 4 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP BlackRock Inflation Protected Bond
2010...... 10.102 10.150 5 10.122 10.153 1*
2011...... 10.150 11.265 365 10.153 11.274 1*
2012...... 11.265 11.873 544 11.274 11.888 5
2013...... 11.873 10.769 550 11.888 10.788 1*
2014...... 10.769 10.991 590 10.788 11.016 1*
2015...... 10.991 10.574 558 11.016 10.604 3
2016...... 10.574 10.839 597 10.604 10.875 3
----------- ------ ------ --- ------ ------ ---

B-5
<PAGE>

LVIP BlackRock U.S. Growth ETF Allocation Managed Risk
2016...... N/A N/A N/A 10.381 10.457 1*
---------- -- --- --- ------ ------ -
LVIP BlackRock U.S. Opportunities Managed Volatility(7)
2015...... N/A N/A N/A 9.227 9.023 4
2016...... N/A N/A N/A 9.023 9.467 5
---------- -- --- --- ------ ------ -
LVIP Blended Core Equity Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A 10.480 10.683 4
---------- -- --- --- ------ ------ ----
LVIP Blended Large Cap Growth Managed Volatility
2010...... N/A N/A N/A 10.521 10.575 1*
2011...... N/A N/A N/A 10.575 9.844 16
2012...... N/A N/A N/A 9.844 11.310 21
2013...... N/A N/A N/A 11.310 14.010 15
2014...... N/A N/A N/A 14.010 14.569 12
2015...... 16.147 16.001 1* 14.569 14.574 19
2016...... 16.001 15.556 4 14.574 14.197 37
---------- ------ ------ --- ------ ------ ----
LVIP Blended Mid Cap Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.116 9.227 3
2012...... N/A N/A N/A 9.227 9.698 3
2013...... N/A N/A N/A 9.698 11.950 6
2014...... N/A N/A N/A 11.950 10.933 11
2015...... 10.527 10.162 1* 10.933 10.338 17
2016...... 10.162 10.236 1* 10.338 10.435 41
---------- ------ ------ --- ------ ------ ----
LVIP Clarion Global Real Estate
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 7.477 6.740 19
2012...... N/A N/A N/A 6.740 8.296 23
2013...... N/A N/A N/A 8.296 8.459 27
2014...... 9.256 9.365 3 8.459 9.509 22
2015...... 9.365 9.113 2 9.509 9.272 23
2016...... 9.113 9.085 11 9.272 9.261 29
---------- ------ ------ --- ------ ------ ----
LVIP ClearBridge Large Cap Managed Volatility
2015...... N/A N/A N/A 9.282 9.280 9
2016...... N/A N/A N/A 9.280 9.497 9
---------- ------ ------ --- ------ ------ ----
LVIP Delaware Bond
2010...... N/A N/A N/A 12.503 12.519 49
2011...... 12.665 13.415 71 12.519 13.288 2,628
2012...... 13.415 14.075 82 13.288 13.969 3,399
2013...... 14.075 13.532 91 13.969 13.457 3,876
2014...... 13.532 14.113 116 13.457 14.063 3974
2015...... 14.113 13.942 123 14.063 13.921 3897
2016...... 13.942 14.095 135 13.921 14.102 3720
---------- ------ ------ --- ------ ------ -----
LVIP Delaware Diversified Floating Rate
2010...... N/A N/A N/A 10.076 10.075 1*
2011...... 10.062 9.889 1* 10.075 9.921 84
2012...... 9.889 10.153 1* 9.921 10.206 106
2013...... 10.153 10.077 1* 10.206 10.151 184
2014...... 10.077 9.988 8 10.151 10.081 178
2015...... 9.988 9.768 8 10.081 9.879 159
2016...... 9.768 9.840 11 9.879 9.972 146
---------- ------ ------ --- ------ ------ -----
LVIP Delaware Social Awareness
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 9.354 9.283 3
2012...... N/A N/A N/A 9.283 10.553 3
2013...... N/A N/A N/A 10.553 14.120 3
2014...... N/A N/A N/A 14.120 16.041 3
2015...... 18.376 18.260 2 16.041 15.713 3
2016...... N/A N/A N/A 15.713 16.523 3
---------- ------ ------ --- ------ ------ -----

LVIP BlackRock U.S. Growth ETF Allocation Managed Risk
2016...... 10.420 10.473 7 N/A N/A N/A
----------- ------ ------ - -- --- ---
LVIP BlackRock U.S. Opportunities Managed Volatility(7)
2015...... 9.982 9.038 6 N/A N/A N/A
2016...... 9.038 9.505 11 N/A N/A N/A
----------- ------ ------ -- -- --- ---
LVIP Blended Core Equity Managed Volatility
2014...... 9.936 10.511 4 N/A N/A N/A
2015...... 10.511 9.985 8 10.441 9.998 1*
2016...... 9.985 10.763 8 9.998 10.782 1*
----------- ------ ------ -- ------ ------ ---
LVIP Blended Large Cap Growth Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.025 10.289 11 N/A N/A N/A
2012...... 10.289 11.850 11 N/A N/A N/A
2013...... 11.850 14.716 19 N/A N/A N/A
2014...... 14.716 15.342 35 N/A N/A N/A
2015...... 15.342 15.385 48 14.918 14.977 1*
2016...... 15.385 15.025 114 14.977 14.634 1*
----------- ------ ------ ----- ------ ------ ---
LVIP Blended Mid Cap Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.152 11.111 12 10.227 9.356 1*
2012...... 11.111 11.707 28 9.356 9.863 1*
2013...... 11.707 14.462 17 9.863 12.189 1*
2014...... 14.462 13.264 45 12.189 11.185 1*
2015...... 13.264 12.575 54 11.185 10.609 1*
2016...... 12.575 12.724 98 10.609 10.741 1*
----------- ------ ------ ----- ------ ------ ---
LVIP Clarion Global Real Estate
2010...... 11.562 11.709 2 N/A N/A N/A
2011...... 11.709 10.582 27 7.559 6.834 2
2012...... 10.582 13.058 37 6.834 8.437 3
2013...... 13.058 13.347 47 8.437 8.629 37
2014...... 13.347 15.042 46 8.629 9.729 37
2015...... 15.042 14.703 52 9.729 9.515 37
2016...... 14.703 14.723 52 9.515 9.533 37
----------- ------ ------ ----- ------ ------ ---
LVIP ClearBridge Large Cap Managed Volatility
2015...... 9.844 9.296 14 N/A N/A N/A
2016...... 9.296 9.537 26 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP Delaware Bond
2010...... 10.273 10.322 267 12.642 12.674 1*
2011...... 10.322 10.984 13,009 12.674 13.493 67
2012...... 10.984 11.575 17,755 13.493 14.227 99
2013...... 11.575 11.179 20,163 14.227 13.747 190
2014...... 11.179 11.712 19861 13.747 14.409 209
2015...... 11.712 11.623 18888 14.409 14.306 198
2016...... 11.623 11.803 18054 14.306 14.535 200
----------- ------ ------ ------ ------ ------ ---
LVIP Delaware Diversified Floating Rate
2010...... 10.083 10.091 8 10.096 10.094 1*
2011...... 10.091 9.961 348 10.094 9.969 2
2012...... 9.961 10.274 417 9.969 10.287 2
2013...... 10.274 10.243 647 10.287 10.262 5
2014...... 10.243 10.198 606 10.262 10.222 5
2015...... 10.198 10.019 584 10.222 10.047 5
2016...... 10.019 10.138 613 10.047 10.172 4
----------- ------ ------ ------ ------ ------ ---
LVIP Delaware Social Awareness
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.900 10.844 11 N/A N/A N/A
2012...... 10.844 12.359 17 N/A N/A N/A
2013...... 12.359 16.578 16 N/A N/A N/A
2014...... 16.578 18.879 17 N/A N/A N/A
2015...... 18.879 18.540 14 N/A N/A N/A
2016...... 18.540 19.544 15 N/A N/A N/A
----------- ------ ------ ------ ------ ------ ---

B-6
<PAGE>

LVIP Delaware Special Opportunities
2010...... N/A N/A N/A 9.531 9.498 1*
2011...... N/A N/A N/A 9.498 8.879 2
2012...... N/A N/A N/A 8.879 10.063 3
2013...... N/A N/A N/A 10.063 13.276 3
2014...... N/A N/A N/A 13.276 14.090 9
2015...... N/A N/A N/A 14.090 13.931 8
2016...... N/A N/A N/A 13.931 16.540 7
---------- ------ ------ -------- ------ ------ -
LVIP Dimensional International Core Equity
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ -------- ------ ------ ---
LVIP Dimensional International Equity Managed Volatility
2011...... N/A N/A N/A 8.092 8.329 1*
2012...... N/A N/A N/A 8.329 9.764 1*
2013...... N/A N/A N/A 9.764 11.096 1*
2014...... N/A N/A N/A 11.096 10.131 2
2015...... N/A N/A N/A 10.131 9.603 2
2016...... N/A N/A N/A 9.603 9.666 3
---------- ------ ------ -------- ------ ------ ---
LVIP Dimensional U.S. Core Equity 1
2010...... N/A N/A N/A 9.095 9.202 1*
2011...... N/A N/A N/A 9.202 9.183 38
2012...... N/A N/A N/A 9.183 10.442 26
2013...... N/A N/A N/A 10.442 13.722 16
2014...... N/A N/A N/A 13.722 15.314 15
2015...... N/A N/A N/A 15.314 14.799 17
2016...... N/A N/A N/A 14.799 16.695 16
---------- ------ ------ -------- ------ ------ ---
LVIP Dimensional U.S. Core Equity 2
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ -------- ------ ------ ---
LVIP Dimensional U.S. Equity Managed Volatility
2011...... N/A N/A N/A 9.061 9.388 1*
2012...... N/A N/A N/A 9.388 10.880 3
2013...... N/A N/A N/A 10.880 13.873 3
2014...... N/A N/A N/A 13.873 14.337 5
2015...... N/A N/A N/A 14.337 13.074 6
2016...... N/A N/A N/A 13.074 14.343 25
---------- ------ ------ -------- ------ ------ ---
LVIP Dimensional/Vanguard Total Bond
2011...... N/A N/A N/A 10.014 10.380 28
2012...... N/A N/A N/A 10.380 10.629 48
2013...... N/A N/A N/A 10.629 10.202 47
2014...... 10.385 10.462 2 10.202 10.539 59
2015...... 10.462 10.339 2 10.539 10.435 61
2016...... 10.339 10.398 1* 10.435 10.516 100
---------- ------ ------ --- ------ ------ ---
LVIP Franklin Templeton Global Equity Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 8.035 7.686 30
2012...... N/A N/A N/A 7.686 9.196 47
2013...... N/A N/A N/A 9.196 10.886 45
2014...... N/A N/A N/A 10.886 10.532 55
2015...... N/A N/A N/A 10.532 9.562 58
2016...... N/A N/A N/A 9.562 9.667 65
---------- ------ ------ --- ------ ------ ---
LVIP Franklin Templeton Value Managed Volatility
2014...... N/A N/A N/A 9.950 10.325 11
2015...... N/A N/A N/A 10.325 9.396 23
2016...... N/A N/A N/A 9.396 10.316 37
---------- ------ ------ --- ------ ------ ---

LVIP Delaware Special Opportunities
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.779 11.039 12 N/A N/A N/A
2012...... 11.039 12.543 25 N/A N/A N/A
2013...... 12.543 16.588 40 10.894 13.542 1*
2014...... 16.588 17.650 41 N/A N/A N/A
2015...... 17.650 17.494 31 N/A N/A N/A
2016...... 17.494 20.822 31 15.726 17.024 1*
----------- ------ ------ --- ------ ------ ---
LVIP Dimensional International Core Equity
2015...... 8.756 9.018 1* N/A N/A N/A
2016...... 9.018 9.325 1* 9.082 9.333 6
----------- ------ ------ --- ------ ------ ---
LVIP Dimensional International Equity Managed Volatility
2011...... N/A N/A N/A N/A N/A N/A
2012...... 9.131 9.804 6 N/A N/A N/A
2013...... 9.804 11.169 19 N/A N/A N/A
2014...... 11.169 10.223 43 10.607 10.241 6
2015...... 10.223 9.715 48 10.241 9.737 8
2016...... 9.715 9.803 101 9.737 9.830 1*
----------- ------ ------ --- ------ ------ ---
LVIP Dimensional U.S. Core Equity 1
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.999 11.003 13 N/A N/A N/A
2012...... 11.003 12.544 14 N/A N/A N/A
2013...... 12.544 16.525 16 N/A N/A N/A
2014...... 16.525 18.488 17 N/A N/A N/A
2015...... 18.488 17.911 17 N/A N/A N/A
2016...... 17.911 20.257 16 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP Dimensional U.S. Core Equity 2
2015...... N/A N/A N/A 9.564 9.417 3
2016...... N/A N/A N/A 9.417 10.886 21
----------- ------ ------ --- ------ ------ ---
LVIP Dimensional U.S. Equity Managed Volatility
2011...... N/A N/A N/A N/A N/A N/A
2012...... 10.285 10.924 10 N/A N/A N/A
2013...... 10.924 13.964 22 N/A N/A N/A
2014...... 13.964 14.467 30 13.220 14.494 16
2015...... 14.467 13.226 38 14.494 13.257 19
2016...... 13.226 14.546 142 13.257 14.587 2
----------- ------ ------ --- ------ ------ ---
LVIP Dimensional/Vanguard Total Bond
2011...... 10.024 10.396 119 10.284 10.399 1*
2012...... 10.396 10.672 269 10.399 10.681 14
2013...... 10.672 10.269 231 10.681 10.282 5
2014...... 10.269 10.635 238 10.282 10.654 5
2015...... 10.635 10.556 269 10.654 10.581 4
2016...... 10.556 10.665 371 10.581 10.695 5
----------- ------ ------ --- ------ ------ ---
LVIP Franklin Templeton Global Equity Managed Volatility
2010...... 11.018 11.269 2 N/A N/A N/A
2011...... 11.269 10.806 180 8.123 7.793 1*
2012...... 10.806 12.961 193 7.793 9.352 1*
2013...... 12.961 15.382 208 9.352 11.104 1*
2014...... 15.382 14.919 232 11.104 10.775 1*
2015...... 14.919 13.578 227 10.775 9.812 1*
2016...... 13.578 13.762 247 9.812 9.949 1*
----------- ------ ------ --- ------ ------ ---
LVIP Franklin Templeton Value Managed Volatility
2014...... 9.556 10.350 7 N/A N/A N/A
2015...... 10.350 9.443 21 10.445 9.453 1*
2016...... 9.443 10.394 25 9.453 10.410 1*
----------- ------ ------ --- ------ ------ ---

B-7
<PAGE>

LVIP Global Conservative Allocation Managed Risk
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 11.621 11.894 58
2012...... N/A N/A N/A 11.894 12.888 109
2013...... N/A N/A N/A 12.888 13.961 104
2014...... N/A N/A N/A 13.961 14.566 137
2015...... N/A N/A N/A 14.566 14.092 144
2016...... N/A N/A N/A 14.092 14.607 133
---------- -- --- --- ------ ------ ----
LVIP Global Growth Allocation Managed Risk
2010...... N/A N/A N/A 10.153 10.308 36
2011...... N/A N/A N/A 10.308 10.175 220
2012...... N/A N/A N/A 10.175 10.963 740
2013...... 13.253 14.236 21 10.963 12.287 1,516
2014...... 14.236 14.510 38 12.287 12.548 2027
2015...... 14.510 13.767 52 12.548 11.929 2186
2016...... 13.767 14.206 48 11.929 12.334 2054
---------- ------ ------ --- ------ ------ -----
LVIP Global Income
2010...... N/A N/A N/A 11.451 11.598 4
2011...... 11.560 11.511 3 11.598 11.572 236
2012...... 11.511 12.212 3 11.572 12.301 279
2013...... 12.212 11.691 3 12.301 11.800 300
2014...... 11.691 11.740 9 11.800 11.873 323
2015...... 11.740 11.331 9 11.873 11.483 314
2016...... 11.331 11.220 3 11.483 11.392 325
---------- ------ ------ --- ------ ------ -----
LVIP Global Moderate Allocation Managed Risk
2010...... N/A N/A N/A 11.086 11.088 23
2011...... N/A N/A N/A 11.088 11.072 188
2012...... N/A N/A N/A 11.072 11.978 1,041
2013...... 14.679 14.865 1* 11.978 13.225 1,741
2014...... 14.865 15.251 4 13.225 13.595 2033
2015...... 15.251 14.517 4 13.595 12.967 2185
2016...... 14.517 14.920 4 12.967 13.354 2223
---------- ------ ------ --- ------ ------ -----
LVIP Government Money Market
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.300 10.192 16
2012...... N/A N/A N/A 10.192 10.088 17
2013...... N/A N/A N/A 10.088 9.985 117
2014...... N/A N/A N/A 9.985 9.884 60
2015...... 10.011 9.971 34 9.884 9.783 75
2016...... 9.971 9.850 10 9.783 9.683 120
---------- ------ ------ --- ------ ------ -----
LVIP Invesco Diversified Equity-Income Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A 9.847 9.660 8
2016...... N/A N/A N/A 9.660 10.587 35
---------- ------ ------ --- ------ ------ -----
LVIP Invesco Select Equity Managed Volatility
2014...... N/A N/A N/A 9.906 10.339 7
2015...... N/A N/A N/A 10.339 9.320 7
2016...... N/A N/A N/A 9.320 9.763 7
---------- ------ ------ --- ------ ------ -----
LVIP JPMorgan High Yield
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.829 10.965 1* 10.842 11.001 13
2012...... 10.965 12.414 1* 11.001 12.479 42
2013...... 12.414 13.032 3 12.479 13.127 94
2014...... 13.032 13.203 10 13.127 13.325 146
2015...... 13.203 12.494 13 13.325 12.635 171
2016...... 12.494 13.940 14 12.635 14.126 174
---------- ------ ------ --- ------ ------ -----

LVIP Global Conservative Allocation Managed Risk
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.761 11.041 242 N/A N/A N/A
2012...... 11.041 11.994 454 N/A N/A N/A
2013...... 11.994 13.026 457 N/A N/A N/A
2014...... 13.026 13.624 515 N/A N/A N/A
2015...... 13.624 13.213 539 N/A N/A N/A
2016...... 13.213 13.731 533 N/A N/A N/A
----------- ------ ------ ---- -- --- ---
LVIP Global Growth Allocation Managed Risk
2010...... 11.192 11.236 5 N/A N/A N/A
2011...... 11.236 11.119 854 10.436 10.332 15
2012...... 11.119 12.010 3,473 10.332 11.165 68
2013...... 12.010 13.494 8,217 11.165 12.552 154
2014...... 13.494 13.816 11185 12.552 12.857 120
2015...... 13.816 13.167 12623 12.857 12.260 131
2016...... 13.167 13.649 12288 12.260 12.714 135
----------- ------ ------ ----- ------ ------ ---
LVIP Global Income
2010...... 10.616 10.746 13 N/A N/A N/A
2011...... 10.746 10.749 804 11.653 11.662 5
2012...... 10.749 11.455 1,037 11.662 12.434 19
2013...... 11.455 11.016 1,186 12.434 11.963 11
2014...... 11.016 11.112 1190 11.963 12.074 13
2015...... 11.112 10.774 1131 12.074 11.712 14
2016...... 10.774 10.715 1109 11.712 11.655 15
----------- ------ ------ ----- ------ ------ ---
LVIP Global Moderate Allocation Managed Risk
2010...... 10.894 11.057 8 N/A N/A N/A
2011...... 11.057 11.069 594 N/A N/A N/A
2012...... 11.069 12.004 3,648 11.389 12.199 18
2013...... 12.004 13.288 7,886 12.199 13.511 45
2014...... 13.288 13.694 9711 13.511 13.930 72
2015...... 13.694 13.093 10878 13.930 13.326 76
2016...... 13.093 13.518 10529 13.326 13.766 74
----------- ------ ------ ----- ------ ------ ---
LVIP Government Money Market
2010...... N/A N/A N/A N/A N/A N/A
2011...... 9.953 9.877 61 N/A N/A N/A
2012...... 9.877 9.801 154 N/A N/A N/A
2013...... 9.801 9.725 215 10.215 10.208 47
2014...... 9.725 9.650 189 10.208 10.135 21
2015...... 9.650 9.575 331 10.135 10.061 7
2016...... 9.575 9.502 201 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP Invesco Diversified Equity-Income Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... 10.327 9.700 10 10.271 9.708 1*
2016...... 9.700 10.657 19 9.708 10.671 1*
----------- ------ ------ ----- ------ ------ ---
LVIP Invesco Select Equity Managed Volatility
2014...... 10.013 10.365 2 N/A N/A N/A
2015...... 10.365 9.367 3 N/A N/A N/A
2016...... 9.367 9.837 13 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP JPMorgan High Yield
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.859 11.044 35 N/A N/A N/A
2012...... 11.044 12.560 184 11.173 12.578 1*
2013...... 12.560 13.245 328 12.578 13.270 19
2014...... 13.245 13.479 445 13.270 13.511 22
2015...... 13.479 12.813 486 13.511 12.851 22
2016...... 12.813 14.360 465 12.851 14.410 23
----------- ------ ------ ----- ------ ------ ---

B-8
<PAGE>

LVIP JPMorgan Select Mid Cap Value Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... 9.209 8.913 3 9.275 8.994 4
2012...... 8.913 9.987 1* 8.994 10.098 4
2013...... 9.987 12.217 1* 10.098 12.378 7
2014...... 12.217 13.012 1* 12.378 13.210 6
2015...... 13.012 11.827 20 13.210 12.031 13
2016...... 11.827 12.815 9 12.031 13.062 29
---------- ------ ------ --- ------ ------ ----
LVIP MFS International Equity Managed Volatility
2013...... N/A N/A N/A 9.549 10.084 3
2014...... N/A N/A N/A 10.084 9.246 4
2015...... N/A N/A N/A 9.246 9.138 4
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ----
LVIP MFS International Growth
2010...... N/A N/A N/A 8.238 8.441 13
2011...... 8.380 7.440 16 8.441 7.509 512
2012...... 7.440 8.752 16 7.509 8.851 481
2013...... 8.752 9.794 18 8.851 9.925 500
2014...... 9.794 9.161 24 9.925 9.302 537
2015...... 9.161 9.142 25 9.302 9.301 502
2016...... 9.142 9.155 25 9.301 9.333 481
---------- ------ ------ --- ------ ------ ----
LVIP MFS Value
2010...... N/A N/A N/A 8.290 8.564 37
2011...... 8.503 8.367 48 8.564 8.445 2,004
2012...... 8.367 9.589 54 8.445 9.697 2,415
2013...... 9.589 12.843 60 9.697 13.014 2,269
2014...... 12.843 13.982 82 13.014 14.196 2275
2015...... 13.982 13.699 90 14.196 13.937 2164
2016...... 13.699 15.393 91 13.937 15.691 1970
---------- ------ ------ --- ------ ------ -----
LVIP Mondrian International Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 8.729 8.253 1*
2012...... N/A N/A N/A 8.253 8.930 1*
2013...... 13.285 14.396 12 8.930 10.742 479
2014...... 14.396 13.824 17 10.742 10.335 479
2015...... 13.824 13.104 17 10.335 9.817 475
2016...... 13.104 13.427 18 9.817 10.079 447
---------- ------ ------ --- ------ ------ -----
LVIP Multi-Manager Global Equity Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ -----
LVIP PIMCO Low Duration Bond
2014...... N/A N/A N/A 10.004 9.934 30
2015...... 10.002 9.937 2 9.934 9.970 53
2016...... 9.937 10.047 12 9.970 10.100 69
---------- ------ ------ --- ------ ------ -----
LVIP Select Core Equity Managed Volatility
2013...... N/A N/A N/A 10.227 11.093 5
2014...... N/A N/A N/A 11.093 11.615 3
2015...... N/A N/A N/A 11.615 10.902 5
2016...... N/A N/A N/A 10.902 11.459 6
---------- ------ ------ --- ------ ------ -----
LVIP SSGA Bond Index
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 11.320 12.001 3
2012...... N/A N/A N/A 12.001 12.302 23
2013...... N/A N/A N/A 12.302 11.832 30
2014...... N/A N/A N/A 11.832 12.350 31
2015...... 12.206 12.039 2 12.350 12.221 37
2016...... 12.039 12.131 10 12.221 12.340 57
---------- ------ ------ --- ------ ------ -----

LVIP JPMorgan Select Mid Cap Value Managed Volatility
2010...... 11.048 11.180 3 N/A N/A N/A
2011...... 11.180 10.869 27 N/A N/A N/A
2012...... 10.869 12.234 32 9.897 10.260 1*
2013...... 12.234 15.033 58 N/A N/A N/A
2014...... 15.033 16.083 59 N/A N/A N/A
2015...... 16.083 14.684 65 13.612 12.334 1*
2016...... 14.684 15.984 130 12.334 13.432 1*
----------- ------ ------ --- ------ ------ ---
LVIP MFS International Equity Managed Volatility
2013...... 10.103 10.100 5 N/A N/A N/A
2014...... 10.100 9.284 14 N/A N/A N/A
2015...... 9.284 9.198 35 9.835 9.210 1*
2016...... 9.198 8.983 48 9.210 9.000 1*
----------- ------ ------ --- ------ ------ ---
LVIP MFS International Growth
2010...... 12.046 12.376 31 8.536 8.533 1*
2011...... 12.376 11.037 1,281 8.533 7.614 9
2012...... 11.037 13.042 1,206 7.614 9.001 54
2013...... 13.042 14.661 1,189 9.001 10.124 9
2014...... 14.661 13.775 1230 10.124 9.517 10
2015...... 13.775 13.808 1151 9.517 9.544 9
2016...... 13.808 13.891 1106 9.544 9.606 9
----------- ------ ------ ----- ------ ------ ---
LVIP MFS Value
2010...... 10.618 10.915 112 8.670 8.658 1*
2011...... 10.915 10.790 6,204 8.658 8.563 49
2012...... 10.790 12.421 7,952 8.563 9.862 67
2013...... 12.421 16.712 7,117 9.862 13.275 108
2014...... 16.712 18.275 6720 13.275 14.524 117
2015...... 18.275 17.986 6299 14.524 14.301 130
2016...... 17.986 20.301 5630 14.301 16.151 123
----------- ------ ------ ----- ------ ------ ---
LVIP Mondrian International Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.541 10.939 9 N/A N/A N/A
2012...... 10.939 11.865 11 N/A N/A N/A
2013...... 11.865 14.309 1,274 10.096 10.974 8
2014...... 14.309 13.802 1256 10.974 10.590 8
2015...... 13.802 13.142 1203 10.590 10.089 7
2016...... 13.142 13.528 1146 10.089 10.390 8
----------- ------ ------ ----- ------ ------ ---
LVIP Multi-Manager Global Equity Managed Volatility
2014...... 10.117 9.853 3 N/A N/A N/A
2015...... 9.853 9.081 28 N/A N/A N/A
2016...... 9.081 9.507 37 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP PIMCO Low Duration Bond
2014...... 10.007 9.950 28 N/A N/A N/A
2015...... 9.950 10.011 101 10.350 10.019 1*
2016...... 10.011 10.167 167 10.019 10.180 2
----------- ------ ------ ----- ------ ------ ---
LVIP Select Core Equity Managed Volatility
2013...... 10.126 11.111 28 N/A N/A N/A
2014...... 11.111 11.663 61 N/A N/A N/A
2015...... 11.663 10.974 75 11.782 10.990 1*
2016...... 10.974 11.564 72 10.990 11.586 1*
----------- ------ ------ ----- ------ ------ ---
LVIP SSGA Bond Index
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.194 10.832 5 N/A N/A N/A
2012...... 10.832 11.133 121 12.305 12.471 1*
2013...... 11.133 10.733 127 12.471 12.029 1*
2014...... 10.733 11.232 121 12.029 12.594 6
2015...... 11.232 11.142 128 12.594 12.500 8
2016...... 11.142 11.279 191 12.500 12.659 7
----------- ------ ------ ----- ------ ------ ---

B-9
<PAGE>

LVIP SSGA Conservative Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 11.578 12.043 16
2014...... N/A N/A N/A 12.043 12.449 17
2015...... N/A N/A N/A 12.449 12.173 23
2016...... N/A N/A N/A 12.173 12.617 23
---------- -- --- --- ------ ------ ---
LVIP SSGA Conservative Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.418 10.571 1*
2012...... N/A N/A N/A 10.571 11.307 56
2013...... N/A N/A N/A 11.307 11.950 59
2014...... N/A N/A N/A 11.950 12.448 61
2015...... 11.907 11.929 8 12.448 12.059 64
2016...... 11.929 12.555 14 12.059 12.717 89
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Developed International 150
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 9.494 8.234 1*
2012...... N/A N/A N/A 8.234 9.237 1*
2013...... N/A N/A N/A 9.237 10.969 3
2014...... N/A N/A N/A 10.969 10.925 4
2015...... N/A N/A N/A 10.925 10.321 5
2016...... N/A N/A N/A 10.321 11.179 5
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Emerging Markets 100
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 14.351 12.049 1*
2012...... N/A N/A N/A 12.049 13.399 2
2013...... N/A N/A N/A 13.399 12.852 2
2014...... 13.037 12.100 3 12.852 12.258 2
2015...... 12.100 9.889 3 12.258 10.037 3
2016...... N/A N/A N/A 10.037 11.438 2
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Global Tactical Allocation Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 9.155 9.056 136
2012...... N/A N/A N/A 9.056 9.936 103
2013...... N/A N/A N/A 9.936 10.770 81
2014...... N/A N/A N/A 10.770 11.052 88
2015...... N/A N/A N/A 11.052 10.199 84
2016...... N/A N/A N/A 10.199 10.633 134
---------- ------ ------ --- ------ ------ ---
LVIP SSGA International Index
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 9.533 10.302 8
2014...... N/A N/A N/A 10.302 9.575 4
2015...... 10.133 9.197 1* 9.575 9.336 6
2016...... 9.197 9.150 1* 9.336 9.307 11
---------- ------ ------ --- ------ ------ ---
LVIP SSGA International Managed Volatility
2014...... N/A N/A N/A 9.956 9.223 1*
2015...... N/A N/A N/A 9.223 8.784 1*
2016...... 8.349 8.311 1* 8.784 8.361 11
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Large Cap 100
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.987 11.097 1*
2012...... N/A N/A N/A 11.097 12.293 2
2013...... N/A N/A N/A 12.293 16.483 2
2014...... N/A N/A N/A 16.483 18.992 5
2015...... 18.480 17.604 2 18.992 17.871 7
2016...... N/A N/A N/A 17.871 21.437 6
---------- ------ ------ --- ------ ------ ---

LVIP SSGA Conservative Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 11.089 11.493 33 N/A N/A N/A
2013...... 11.493 12.146 23 11.354 12.167 2
2014...... 12.146 12.587 12 12.167 12.615 2
2015...... 12.587 12.339 44 12.615 12.372 2
2016...... 12.339 12.821 94 12.372 12.862 2
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Conservative Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.429 10.609 41 N/A N/A N/A
2012...... 10.609 11.375 84 N/A N/A N/A
2013...... 11.375 12.052 97 N/A N/A N/A
2014...... 12.052 12.587 164 N/A N/A N/A
2015...... 12.587 12.224 157 N/A N/A N/A
2016...... 12.224 12.923 176 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Developed International 150
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 11.023 11.497 4 N/A N/A N/A
2013...... 11.497 13.688 2 N/A N/A N/A
2014...... 13.688 13.667 2 N/A N/A N/A
2015...... 13.667 12.944 3 N/A N/A N/A
2016...... 12.944 14.056 3 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Emerging Markets 100
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.975 10.920 2 N/A N/A N/A
2012...... 10.920 12.175 10 N/A N/A N/A
2013...... 12.175 11.707 10 N/A N/A N/A
2014...... 11.707 11.194 12 N/A N/A N/A
2015...... 11.194 9.189 20 N/A N/A N/A
2016...... 9.189 10.498 21 10.696 11.744 1*
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Global Tactical Allocation Managed Volatility
2010...... 10.979 11.033 4 N/A N/A N/A
2011...... 11.033 10.941 361 N/A N/A N/A
2012...... 10.941 12.035 309 9.793 10.120 1*
2013...... 12.035 13.077 311 10.120 11.002 1*
2014...... 13.077 13.454 308 11.002 11.325 1*
2015...... 13.454 12.446 292 11.325 10.482 1*
2016...... 12.446 13.008 298 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP SSGA International Index
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.852 10.277 1* N/A N/A N/A
2012...... 10.277 12.011 3 N/A N/A N/A
2013...... 12.011 14.382 20 N/A N/A N/A
2014...... 14.382 13.400 24 N/A N/A N/A
2015...... 13.400 13.098 25 N/A N/A N/A
2016...... 13.098 13.090 24 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP SSGA International Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... 9.489 8.828 6 N/A N/A N/A
2016...... 8.828 8.424 94 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Large Cap 100
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.018 11.156 1* N/A N/A N/A
2012...... 11.156 12.389 18 N/A N/A N/A
2013...... 12.389 16.653 24 N/A N/A N/A
2014...... 16.653 19.236 25 N/A N/A N/A
2015...... 19.236 18.146 24 N/A N/A N/A
2016...... 18.146 21.822 29 17.179 21.992 1*
----------- ------ ------ --- ------ ------ ---

B-10
<PAGE>

LVIP SSGA Large Cap Managed Volatility
2013...... N/A N/A N/A 10.599 10.922 1*
2014...... N/A N/A N/A 10.922 11.482 4
2015...... N/A N/A N/A 11.482 10.749 14
2016...... N/A N/A N/A 10.749 11.480 14
---------- -- --- --- ------ ------ --
LVIP SSGA Moderate Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 11.133 11.594 4
2013...... N/A N/A N/A 11.594 12.871 5
2014...... N/A N/A N/A 12.871 13.265 13
2015...... 13.317 12.763 23 13.265 12.902 34
2016...... 12.763 13.407 22 12.902 13.581 46
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderate Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.579 10.473 5
2012...... 11.158 11.372 60 10.473 11.427 24
2013...... 11.372 12.639 88 11.427 12.725 79
2014...... 12.639 13.142 105 12.725 13.259 103
2015...... 13.142 12.597 115 13.259 12.734 121
2016...... 12.597 13.561 124 12.734 13.736 184
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderately Aggressive Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... 13.133 13.366 1* N/A N/A N/A
2015...... 13.366 12.899 2 13.769 13.039 3
2016...... 12.899 13.644 2 13.039 13.820 3
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderately Aggressive Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.866 10.517 2 10.875 10.547 1*
2012...... 10.517 11.541 13 10.547 11.596 19
2013...... 11.541 13.093 13 11.596 13.183 27
2014...... 13.093 13.579 14 13.183 13.700 54
2015...... 13.579 12.911 18 13.700 13.052 71
2016...... 12.911 14.051 27 13.052 14.232 71
---------- ------ ------ --- ------ ------ ---
LVIP SSGA S&P 500 Index
2010...... N/A N/A N/A N/A N/A N/A
2011...... 9.936 9.969 1* 8.755 8.802 6
2012...... 9.969 11.358 1* 8.802 10.048 19
2013...... 11.358 14.770 1* 10.048 13.093 56
2014...... 14.770 16.504 1* 13.093 14.659 59
2015...... 16.504 16.448 1* 14.659 14.639 37
2016...... 16.448 18.108 5 14.639 16.149 36
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Small-Cap Index
2010...... N/A N/A N/A 9.129 9.268 1*
2011...... N/A N/A N/A 9.268 8.731 4
2012...... N/A N/A N/A 8.731 9.988 7
2013...... 11.547 13.418 3 9.988 13.597 37
2014...... 13.418 13.836 3 13.597 14.049 38
2015...... 13.836 12.988 3 14.049 13.213 36
2016...... 12.988 15.440 1* 13.213 15.740 32
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Small-Mid Cap 200
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 13.676 13.201 1*
2012...... N/A N/A N/A 13.201 14.832 1*
2013...... N/A N/A N/A 14.832 19.691 1*
2014...... N/A N/A N/A 19.691 20.273 1*
2015...... N/A N/A N/A 20.273 18.641 2
2016...... N/A N/A N/A 18.641 23.937 2
---------- ------ ------ --- ------ ------ ---

LVIP SSGA Large Cap Managed Volatility
2013...... 10.453 10.940 1* N/A N/A N/A
2014...... 10.940 11.529 1* N/A N/A N/A
2015...... 11.529 10.820 8 N/A N/A N/A
2016...... 10.820 11.585 15 N/A N/A N/A
----------- ------ ------ -- -- ------ ---
LVIP SSGA Moderate Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.688 10.552 7 N/A N/A N/A
2012...... 10.552 11.664 52 N/A N/A N/A
2013...... 11.664 12.981 57 N/A N/A N/A
2014...... 12.981 13.412 46 N/A N/A N/A
2015...... 13.412 13.078 69 N/A N/A N/A
2016...... 13.078 13.800 89 N/A N/A N/A
----------- ------ ------ --- -- ------ ---
LVIP SSGA Moderate Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.590 10.510 28 N/A N/A N/A
2012...... 10.510 11.497 188 11.118 11.511 2
2013...... 11.497 12.834 389 11.511 12.856 17
2014...... 12.834 13.406 513 12.856 13.436 16
2015...... 13.406 12.908 615 13.436 12.943 15
2016...... 12.908 13.958 725 12.943 14.003 13
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderately Aggressive Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 10.646 11.660 23 N/A N/A N/A
2013...... 11.660 13.247 27 N/A N/A N/A
2014...... 13.247 13.634 49 N/A N/A N/A
2015...... 13.634 13.217 52 N/A N/A N/A
2016...... 13.217 14.043 58 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderately Aggressive Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.886 10.584 68 N/A N/A N/A
2012...... 10.584 11.667 137 N/A N/A N/A
2013...... 11.667 13.296 158 N/A N/A N/A
2014...... 13.296 13.852 182 N/A N/A N/A
2015...... 13.852 13.230 188 13.034 13.265 1*
2016...... 13.230 14.463 202 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP SSGA S&P 500 Index
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.105 11.192 10 N/A N/A N/A
2012...... 11.192 12.808 24 N/A N/A N/A
2013...... 12.808 16.731 73 N/A N/A N/A
2014...... 16.731 18.780 66 N/A N/A N/A
2015...... 18.780 18.801 59 15.076 15.044 2
2016...... 18.801 20.792 125 15.044 16.646 2
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Small-Cap Index
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.235 10.611 9 N/A N/A N/A
2012...... 10.611 12.169 17 8.909 10.158 1*
2013...... 12.169 16.607 79 10.158 13.870 19
2014...... 16.607 17.202 73 13.870 14.374 19
2015...... 17.202 16.219 69 14.374 13.560 19
2016...... 16.219 19.369 63 13.560 16.201 19
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Small-Mid Cap 200
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.256 10.893 1* N/A N/A N/A
2012...... 10.893 12.269 8 N/A N/A N/A
2013...... 12.269 16.329 7 N/A N/A N/A
2014...... 16.329 16.854 10 N/A N/A N/A
2015...... 16.854 15.536 17 20.625 19.068 1*
2016...... 15.536 20.000 17 19.068 24.558 1*
----------- ------ ------ --- ------ ------ ---

B-11
<PAGE>

LVIP SSGA SMID Cap Managed Volatility
2013...... N/A N/A N/A 10.401 11.191 4
2014...... N/A N/A N/A 11.191 10.893 4
2015...... N/A N/A N/A 10.893 9.819 10
2016...... N/A N/A N/A 9.819 11.184 22
---------- -- --- --- ------ ------ --
LVIP T. Rowe Price Growth Stock
2010...... N/A N/A N/A N/A N/A N/A
2011...... 9.235 8.947 3 9.302 9.030 29
2012...... 8.947 10.428 3 9.030 10.546 35
2013...... 10.428 14.284 3 10.546 14.475 42
2014...... 14.284 15.298 8 14.475 15.532 43
2015...... 15.298 16.686 11 15.532 16.976 51
2016...... 16.686 16.667 12 16.976 16.991 54
---------- ------ ------ --- ------ ------ ----
LVIP T. Rowe Price Structured Mid-Cap Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 11.521 10.931 16
2012...... N/A N/A N/A 10.931 12.550 15
2013...... N/A N/A N/A 12.550 16.698 13
2014...... 20.499 21.570 4 16.698 18.391 13
2015...... 21.570 21.696 4 18.391 18.535 12
2016...... 21.696 22.988 4 18.535 19.678 10
---------- ------ ------ --- ------ ------ ----
LVIP U.S. Growth Allocation Managed Risk
2015...... 9.935 9.540 2 10.028 9.553 57
2016...... 9.540 9.781 4 9.553 9.813 403
---------- ------ ------ --- ------ ------ ----
LVIP Vanguard Domestic Equity ETF
2011...... N/A N/A N/A 8.633 9.382 1*
2012...... N/A N/A N/A 9.382 10.665 11
2013...... N/A N/A N/A 10.665 13.741 11
2014...... N/A N/A N/A 13.741 15.220 19
2015...... 15.449 14.839 1* 15.220 14.977 22
2016...... 14.839 16.393 1* 14.977 16.579 26
---------- ------ ------ --- ------ ------ ----
LVIP Vanguard International Equity ETF
2011...... N/A N/A N/A 8.452 8.371 1*
2012...... N/A N/A N/A 8.371 9.861 6
2013...... N/A N/A N/A 9.861 11.169 6
2014...... N/A N/A N/A 11.169 10.513 6
2015...... N/A N/A N/A 10.513 10.072 17
2016...... N/A N/A N/A 10.072 10.311 30
---------- ------ ------ --- ------ ------ ----
LVIP VIP Mid Cap Managed Volatility(7)
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A 9.862 9.577 7
2016...... N/A N/A N/A 9.577 10.411 7
---------- ------ ------ --- ------ ------ ----
LVIP Wellington Capital Growth
2010...... N/A N/A N/A 9.443 9.680 20
2011...... 9.613 8.616 24 9.680 8.694 985
2012...... 8.616 10.106 27 8.694 10.218 1,185
2013...... 10.106 13.541 30 10.218 13.718 1,070
2014...... 13.541 14.856 32 13.718 15.080 993
2015...... 14.856 16.014 29 15.080 16.288 889
2016...... 16.014 15.791 29 16.288 16.094 839
---------- ------ ------ --- ------ ------ -----
LVIP Wellington Mid-Cap Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 8.723 7.808 19
2012...... N/A N/A N/A 7.808 9.566 21
2013...... N/A N/A N/A 9.566 12.668 16
2014...... N/A N/A N/A 12.668 13.540 15
2015...... N/A N/A N/A 13.540 13.163 18
2016...... 12.242 14.413 8 13.163 14.691 24
---------- ------ ------ --- ------ ------ -----

LVIP SSGA SMID Cap Managed Volatility
2013...... 10.905 11.208 1* N/A N/A N/A
2014...... 11.208 10.938 13 N/A N/A N/A
2015...... 10.938 9.884 19 11.133 9.896 1*
2016...... 9.884 11.287 53 9.896 11.305 1*
----------- ------ ------ -- ------ ------ ---
LVIP T. Rowe Price Growth Stock
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.508 11.200 50 N/A N/A N/A
2012...... 11.200 13.113 77 N/A N/A N/A
2013...... 13.113 18.043 87 13.937 14.765 1*
2014...... 18.043 19.410 93 14.765 15.891 1*
2015...... 19.410 21.267 111 15.891 17.421 2
2016...... 21.267 21.339 113 17.421 17.488 2
----------- ------ ------ ---- ------ ------ ---
LVIP T. Rowe Price Structured Mid-Cap Growth
2010...... 11.998 11.947 4 N/A N/A N/A
2011...... 11.947 11.365 48 N/A N/A N/A
2012...... 11.365 13.080 66 N/A N/A N/A
2013...... 13.080 17.446 64 16.267 17.058 1*
2014...... 17.446 19.264 68 N/A N/A N/A
2015...... 19.264 19.463 60 20.322 19.049 1*
2016...... 19.463 20.715 65 19.049 20.284 1*
----------- ------ ------ ---- ------ ------ ---
LVIP U.S. Growth Allocation Managed Risk
2015...... 10.070 9.569 500 9.992 9.572 3
2016...... 9.569 9.854 1621 9.572 9.863 14
----------- ------ ------ ---- ------ ------ ---
LVIP Vanguard Domestic Equity ETF
2011...... 10.088 9.397 19 N/A N/A N/A
2012...... 9.397 10.709 70 N/A N/A N/A
2013...... 10.709 13.832 80 N/A N/A N/A
2014...... 13.832 15.359 84 N/A N/A N/A
2015...... 15.359 15.152 87 15.743 15.187 1*
2016...... 15.152 16.813 88 15.187 16.861 1*
----------- ------ ------ ---- ------ ------ ---
LVIP Vanguard International Equity ETF
2011...... 9.917 8.385 12 8.647 8.387 1*
2012...... 8.385 9.901 51 8.387 9.909 1*
2013...... 9.901 11.243 66 9.909 11.258 1*
2014...... 11.243 10.609 85 11.258 10.628 1*
2015...... 10.609 10.189 91 10.628 10.212 1*
2016...... 10.189 10.457 87 10.212 10.486 1*
----------- ------ ------ ---- ------ ------ ---
LVIP VIP Mid Cap Managed Volatility(7)
2014...... N/A N/A N/A N/A N/A N/A
2015...... 10.426 9.616 7 N/A N/A N/A
2016...... 9.616 10.478 7 N/A N/A N/A
----------- ------ ------ ---- ------ ------ ---
LVIP Wellington Capital Growth
2010...... 11.437 11.665 63 9.797 9.786 1*
2011...... 11.665 10.503 3,190 9.786 8.815 24
2012...... 10.503 12.375 4,012 8.815 10.392 33
2013...... 12.375 16.655 3,514 10.392 13.992 45
2014...... 16.655 18.355 3119 13.992 15.429 45
2015...... 18.355 19.875 2703 15.429 16.714 40
2016...... 19.875 19.687 2550 16.714 16.565 42
----------- ------ ------ ----- ------ ------ ---
LVIP Wellington Mid-Cap Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.616 10.423 34 N/A N/A N/A
2012...... 10.423 12.803 41 N/A N/A N/A
2013...... 12.803 16.996 44 12.293 12.921 1*
2014...... 16.996 18.212 48 12.921 13.853 1*
2015...... 18.212 17.749 45 13.853 13.508 1*
2016...... 17.749 19.859 58 13.508 15.121 1*
----------- ------ ------ ----- ------ ------ ---

B-12
<PAGE>

MFS (Reg. TM) VIT Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 9.807 9.650 8
2012...... 10.065 11.079 2 9.650 11.180 9
2013...... 11.079 14.934 2 11.180 15.100 14
2014...... 14.934 16.030 7 15.100 16.240 51
2015...... 16.030 16.987 13 16.240 17.244 74
2016...... 16.987 17.141 17 17.244 17.436 77
---------- ------ ------ --- ------ ------ ---
MFS (Reg. TM) VIT Total Return(5)
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.134 10.187 53
2012...... N/A N/A N/A 10.187 11.183 56
2013...... N/A N/A N/A 11.183 12.411 55
---------- ------ ------ --- ------ ------ ---
MFS (Reg. TM) VIT Total Return
2016...... 15.376 16.116 1* 14.419 14.914 9
---------- ------ ------ --- ------ ------ ---
MFS (Reg. TM) VIT Utilities
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 11.914 12.557 28
2012...... N/A N/A N/A 12.557 14.068 38
2013...... N/A N/A N/A 14.068 16.735 41
2014...... 24.889 25.295 2 16.735 18.624 48
2015...... 25.295 21.294 4 18.624 15.710 49
2016...... 21.294 23.392 2 15.710 17.293 50
---------- ------ ------ --- ------ ------ ---
PIMCO VIT CommodityRealReturn Strategy
2010...... N/A N/A N/A 14.861 15.425 1*
2011...... 15.375 14.039 2 15.425 14.112 11
2012...... 14.039 14.575 2 14.112 14.681 12
2013...... 14.575 12.275 1* 14.681 12.389 11
2014...... 12.275 9.866 1* 12.389 9.977 9
2015...... 9.866 7.243 2 9.977 7.339 10
2016...... 7.243 8.216 15 7.339 8.343 13
---------- ------ ------ --- ------ ------ ---
Templeton Global Bond VIP
2014...... N/A N/A N/A 18.205 17.784 1*
2015...... N/A N/A N/A 17.784 16.841 3
2016...... 17.031 18.110 1* 16.841 17.154 1*
---------- ------ ------ --- ------ ------ ---

MFS (Reg. TM) VIT Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.375 11.221 43 N/A N/A N/A
2012...... 11.221 13.032 57 N/A N/A N/A
2013...... 13.032 17.647 65 14.796 15.352 1*
2014...... 17.647 19.027 142 15.352 16.561 2
2015...... 19.027 20.253 171 16.561 17.637 3
2016...... 20.253 20.530 185 17.637 17.887 3
----------- ------ ------ --- ------ ------ ---
MFS (Reg. TM) VIT Total Return(5)
2010...... 10.505 10.697 3 10.260 10.260 1*
2011...... 10.697 10.780 146 10.260 10.345 1*
2012...... 10.780 11.863 152 10.345 11.390 1*
2013...... 11.863 13.178 147 11.390 12.654 1*
----------- ------ ------ --- ------ ------ ---
MFS (Reg. TM) VIT Total Return
2016...... 15.425 15.975 19 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
MFS (Reg. TM) VIT Utilities
2010...... 11.434 11.672 1* N/A N/A N/A
2011...... 11.672 12.332 128 N/A N/A N/A
2012...... 12.332 13.850 183 12.728 14.328 12
2013...... 13.850 16.517 177 14.328 17.096 1*
2014...... 16.517 18.428 171 17.096 19.084 1*
2015...... 18.428 15.584 201 19.084 16.146 1*
2016...... 15.584 17.197 192 16.146 17.826 1*
----------- ------ ------ --- ------ ------ ---
PIMCO VIT CommodityRealReturn Strategy
2010...... N/A N/A N/A N/A N/A N/A
2011...... 13.265 12.166 13 N/A N/A N/A
2012...... 12.166 12.688 12 N/A N/A N/A
2013...... 12.688 10.734 13 N/A N/A N/A
2014...... 10.734 8.666 13 11.721 10.147 1*
2015...... 8.666 6.391 23 N/A N/A N/A
2016...... 6.391 7.283 24 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
Templeton Global Bond VIP
2014...... 10.061 9.944 14 18.455 18.222 1*
2015...... 9.944 9.440 32 18.222 17.308 1*
2016...... 9.440 9.640 45 17.308 17.683 1*
----------- ------ ------ --- ------ ------ ---

* The numbers of accumulation units less than 500 were rounded up to one.

** This table reflects the accumulation unit values and the number of
accumulation units for both the ChoicePlus Assurance A Share and
ChoicePlus Assurance A Class.

(1) On May 17, 2013, this Subaccount was closed and the values were
transferred to the LVIP SSGA S&P 500 Index Fund Subaccount.

(2) On May 17, 2013, this Subaccount was closed and the values were
transferred to the LVIP Mondrian International Value Fund Subaccount.

(3) On May 17, 2013, this Subaccount was closed and the values were
transferred to the LVIP SSGA International Index Fund Subaccount.

(4) On May 17, 2013, this Subaccount was closed and the values were
transferred to the LVIP SSGA Small-Cap Index Fund Subaccount.

(5) On May 17, 2013, this Subaccount was closed and the values were
transferred to the LVIP SSGA Moderate Structured Allocation Fund Subaccount.

(6) On December 9, 2016, this Subaccount was closed and the values were
transferred to the LVIP SSGA International Managed Volatility Fund Subaccount.

(7) On December 9, 2016, this Subaccount was closed and the values were
transferred to the LVIP Blended Mid Cap Managed Volatility Fund Subaccount.

B-13
<PAGE>

[THIS PAGE INTENTIONALLY LEFT BLANK]
<PAGE>

Appendix C - Condensed Financial Information

Accumulation Unit Values
The following information relates to Accumulation Unit values and number of
Accumulation Units for contracts purchased as part of a Fee-Based Financial
Plan on or after June 30, 2010 for funds available in the periods ended
December 31. It should be read along with the VAA's financial statement and
notes which are included in the SAI.

With EEB With EGMDB
---------------------------------- ----------------------------------
Accumulation Unit Accumulation Unit
value value
-------------------- Number of -------------------- Number of
Beginning End of Accumulation Beginning End of Accumulation
of period period Units of period period Units
----------- -------- ------------- ----------- -------- -------------
(Accumulation Unit value in dollars and Number of Accumulation Units
in thousands)

AB VPS Global Thematic Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A 12.723 12.085 11
2016...... N/A N/A N/A N/A N/A N/A
---------- ----------- -------- ------------- ------ ------ ---
AB VPS Growth and Income(1)
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
---------- ----------- -------- ------------- ------ ------ ---
AB VPS International Value(2)
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
---------- ----------- -------- ------------- ------ ------ ---
AB VPS Small/Mid Cap Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 11.448 10.367 1*
2012...... N/A N/A N/A 10.367 12.172 10
2013...... N/A N/A N/A 12.172 16.603 1*
2014...... N/A N/A N/A 16.603 17.926 2
2015...... N/A N/A N/A 17.926 16.754 2
2016...... N/A N/A N/A 16.754 20.720 6
---------- ----------- -------- ------------- ------ ------ ---
American Century VP Balanced
2016...... N/A N/A N/A N/A N/A N/A
---------- ----------- -------- ------------- ------ ------ ---
American Funds Global Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ----------- -------- ------------- ------ ------ ---
American Funds Global Small Capitalization
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ----------- -------- ------------- ------ ------ ---
American Funds Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ----------- -------- ------------- ------ ------ ---

with GOP Account Value DB
---------------------------------- ----------------------------------
Accumulation Unit Accumulation Unit
value value
-------------------- Number of -------------------- Number of
Beginning End of Accumulation Beginning End of Accumulation
of period period Units of period period Units
----------- -------- ------------- ----------- -------- -------------
(Accumulation Unit value in dollars and Number of Accumulation Units
in thousands)

AB VPS Global Thematic Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.132 8.471 9 N/A N/A N/A
2012...... 8.471 9.530 12 N/A N/A N/A
2013...... 9.530 11.639 11 N/A N/A N/A
2014...... 11.639 12.120 11 N/A N/A N/A
2015...... 12.120 12.360 14 N/A N/A N/A
2016...... 12.360 12.172 12 N/A N/A N/A
----------- ------ ------ --- ------ ------ --------
AB VPS Growth and Income(1)
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ --- ------ ------ --------
AB VPS International Value(2)
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ --- ------ ------ --------
AB VPS Small/Mid Cap Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.567 10.501 13 N/A N/A N/A
2012...... 10.501 12.360 26 N/A N/A N/A
2013...... 12.360 16.901 35 N/A N/A N/A
2014...... 16.901 18.294 31 15.661 17.663 1*
2015...... 18.294 17.140 30 17.663 16.558 3
2016...... 17.140 21.251 33 16.558 20.539 2
----------- ------ ------ --- ------ ------ ---
American Century VP Balanced
2016...... 10.312 10.454 1* N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
American Funds Global Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
American Funds Global Small Capitalization
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
American Funds Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ --- ------ ------ ---

C-1
<PAGE>

American Funds Growth-Income
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ -------- -- --- ---
American Funds International
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ -------- -- --- ---
BlackRock Global Allocation V.I.
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 12.890 13.063 2 12.731 13.158 8
2013...... 13.063 14.783 2 13.158 14.920 9
2014...... 14.783 14.904 2 14.920 15.073 10
2015...... 14.904 14.593 2 15.073 14.788 6
2016...... 14.593 14.983 2 14.788 15.213 5
---------- ------ ------ --- ------ ------ ---
ClearBridge Variable Mid Cap
2014...... N/A N/A N/A 10.052 10.590 1*
2015...... N/A N/A N/A 10.590 10.704 1*
2016...... N/A N/A N/A 10.704 11.574 1*
---------- ------ ------ --- ------ ------ ---
Delaware VIP Diversified Income
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 14.778 15.344 1* 14.319 15.142 9
2013...... 15.344 14.960 1* 15.142 14.793 15
2014...... 14.960 15.534 1* 14.793 15.391 43
2015...... 15.534 15.158 6 15.391 15.049 15
2016...... 15.158 15.484 1* 15.049 15.404 17
---------- ------ ------ --- ------ ------ ---
Delaware VIP Emerging Markets
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 9.583 10.684 1*
2013...... N/A N/A N/A 10.684 11.632 1*
2014...... N/A N/A N/A 11.632 10.576 2
2015...... N/A N/A N/A 10.576 8.932 1*
2016...... N/A N/A N/A 8.932 10.063 1*
---------- ------ ------ --- ------ ------ ---
Delaware VIP Limited-Term Diversified Income
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 11.775 11.966 1*
2012...... N/A N/A N/A 11.966 12.160 3
2013...... N/A N/A N/A 12.160 11.891 2
2014...... N/A N/A N/A 11.891 11.955 11
2015...... N/A N/A N/A 11.955 11.922 4
2016...... N/A N/A N/A 11.922 12.020 10
---------- ------ ------ --- ------ ------ ---
Delaware VIP REIT
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 12.189 10.829 1*
2014...... N/A N/A N/A 10.829 13.857 1*
2015...... 15.649 15.747 1* 13.857 14.217 2
2016...... N/A N/A N/A 14.217 14.881 2
---------- ------ ------ --- ------ ------ ---

American Funds Growth-Income
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- -- --- --- -- --- ---
American Funds International
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
----------- -- --- --- -- --- ---
BlackRock Global Allocation V.I.
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.694 12.153 208 N/A N/A N/A
2012...... 12.153 13.278 241 N/A N/A N/A
2013...... 13.278 15.093 255 N/A N/A N/A
2014...... 15.093 15.285 253 13.217 13.342 6
2015...... 15.285 15.034 266 13.342 13.130 6
2016...... 15.034 15.505 194 13.130 13.548 3
----------- ------ ------ --- ------ ------ ---
ClearBridge Variable Mid Cap
2014...... 10.654 10.607 1* N/A N/A N/A
2015...... 10.607 10.748 14 10.763 10.756 2
2016...... 10.748 11.651 4 10.756 11.666 3
----------- ------ ------ --- ------ ------ ---
Delaware VIP Diversified Income
2010...... N/A N/A N/A N/A N/A N/A
2011...... 13.728 14.479 58 N/A N/A N/A
2012...... 14.479 15.374 134 N/A N/A N/A
2013...... 15.374 15.057 201 11.265 11.369 4
2014...... 15.057 15.705 233 11.369 11.864 14
2015...... 15.705 15.394 268 11.864 11.635 25
2016...... 15.394 15.797 297 11.635 11.945 29
----------- ------ ------ --- ------ ------ ---
Delaware VIP Emerging Markets
2010...... 10.921 12.017 8 N/A N/A N/A
2011...... 12.017 9.551 33 N/A N/A N/A
2012...... 9.551 10.835 41 N/A N/A N/A
2013...... 10.835 11.826 49 12.321 12.262 1*
2014...... 11.826 10.779 61 12.262 11.181 3
2015...... 10.779 9.127 49 11.181 9.472 7
2016...... 9.127 10.308 45 9.472 10.703 6
----------- ------ ------ --- ------ ------ ---
Delaware VIP Limited-Term Diversified Income
2010...... 11.948 11.896 13 N/A N/A N/A
2011...... 11.896 12.121 42 N/A N/A N/A
2012...... 12.121 12.347 39 N/A N/A N/A
2013...... 12.347 12.104 146 N/A N/A N/A
2014...... 12.104 12.199 139 10.392 10.455 22
2015...... 12.199 12.196 139 10.455 10.458 18
2016...... 12.196 12.327 148 10.458 10.575 11
----------- ------ ------ --- ------ ------ ---
Delaware VIP REIT
2010...... N/A N/A N/A N/A N/A N/A
2011...... 8.550 9.397 2 N/A N/A N/A
2012...... 9.397 10.887 7 N/A N/A N/A
2013...... 10.887 11.024 12 14.458 14.281 1*
2014...... 11.024 14.142 32 14.281 18.329 3
2015...... 14.142 14.545 40 18.329 18.861 3
2016...... 14.545 15.262 38 18.861 19.801 5
----------- ------ ------ --- ------ ------ ---

C-2
<PAGE>

Delaware VIP Small Cap Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 11.769 11.478 11
2012...... N/A N/A N/A 11.478 12.926 1*
2013...... N/A N/A N/A 12.926 17.059 1*
2014...... N/A N/A N/A 17.059 17.856 6
2015...... N/A N/A N/A 17.856 16.552 2
2016...... N/A N/A N/A 16.552 21.503 5
---------- ------ ------ -------- ------ ------ ---
Delaware VIP Smid Cap Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 11.642 12.450 9
2012...... N/A N/A N/A 12.450 13.660 2
2013...... N/A N/A N/A 13.660 19.084 1*
2014...... N/A N/A N/A 19.084 19.456 1*
2015...... N/A N/A N/A 19.456 20.691 7
2016...... N/A N/A N/A 20.691 22.149 1*
---------- ------ ------ -------- ------ ------ ---
Delaware VIP U.S. Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.043 10.700 11
2012...... N/A N/A N/A 10.700 12.296 4
2013...... N/A N/A N/A 12.296 16.383 3
2014...... N/A N/A N/A 16.383 18.263 3
2015...... N/A N/A N/A 18.263 19.019 8
2016...... N/A N/A N/A 19.019 17.813 1*
---------- ------ ------ -------- ------ ------ ---
Delaware VIP Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 8.644 9.360 12
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 11.491 14.031 2
2014...... N/A N/A N/A 14.031 15.811 1*
2015...... N/A N/A N/A 15.811 15.569 3
2016...... N/A N/A N/A 15.569 17.639 1*
---------- ------ ------ -------- ------ ------ ---
Deutsche Alternative Asset Allocation VIP
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 13.009 13.322 1*
2014...... N/A N/A N/A 13.322 13.630 1*
2015...... N/A N/A N/A 13.630 12.625 1*
2016...... N/A N/A N/A 12.625 13.136 1*
---------- ------ ------ -------- ------ ------ ---
Fidelity VIP Contrafund
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.322 9.945 1*
2012...... N/A N/A N/A 9.945 11.447 4
2013...... N/A N/A N/A 11.447 14.856 4
2014...... N/A N/A N/A 14.856 16.438 5
2015...... 17.831 17.132 6 16.438 16.359 5
2016...... N/A N/A N/A 16.359 17.466 3
---------- ------ ------ --- ------ ------ ---
Fidelity VIP Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 11.264 11.316 2
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A 16.949 16.780 8
2015...... N/A N/A N/A 16.780 17.778 1*
2016...... N/A N/A N/A 17.778 17.715 1*
---------- ------ ------ --- ------ ------ ---

Delaware VIP Small Cap Value
2010...... 10.323 11.844 8 N/A N/A N/A
2011...... 11.844 11.580 23 N/A N/A N/A
2012...... 11.580 13.073 25 N/A N/A N/A
2013...... 13.073 17.297 28 N/A N/A N/A
2014...... 17.297 18.150 31 16.502 18.075 1*
2015...... 18.150 16.867 29 18.075 16.806 2
2016...... 16.867 21.968 25 16.806 21.899 2
----------- ------ ------ -- ------ ------ ---
Delaware VIP Smid Cap Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.763 12.610 3 N/A N/A N/A
2012...... 12.610 13.870 5 N/A N/A N/A
2013...... 13.870 19.427 8 N/A N/A N/A
2014...... 19.427 19.855 15 N/A N/A N/A
2015...... 19.855 21.168 25 N/A N/A N/A
2016...... 21.168 22.717 25 23.434 23.694 1*
----------- ------ ------ --- ------ ------ ---
Delaware VIP U.S. Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.147 10.838 3 N/A N/A N/A
2012...... 10.838 12.485 1* N/A N/A N/A
2013...... 12.485 16.677 1* N/A N/A N/A
2014...... 16.677 18.638 2 N/A N/A N/A
2015...... 18.638 19.457 3 N/A N/A N/A
2016...... 19.457 18.269 4 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
Delaware VIP Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... 8.734 9.480 8 N/A N/A N/A
2012...... 9.480 10.779 7 N/A N/A N/A
2013...... 10.779 14.283 6 N/A N/A N/A
2014...... 14.283 16.134 12 N/A N/A N/A
2015...... 16.134 15.927 25 N/A N/A N/A
2016...... 15.927 18.090 52 23.260 23.544 1*
----------- ------ ------ --- ------ ------ ---
Deutsche Alternative Asset Allocation VIP
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.874 12.392 6 N/A N/A N/A
2012...... 12.392 13.464 13 N/A N/A N/A
2013...... 13.464 13.477 14 N/A N/A N/A
2014...... 13.477 13.823 16 N/A N/A N/A
2015...... 13.823 12.835 17 N/A N/A N/A
2016...... 12.835 13.388 12 10.967 11.599 1*
----------- ------ ------ --- ------ ------ ---
Fidelity VIP Contrafund
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.429 10.073 58 N/A N/A N/A
2012...... 10.073 11.623 89 N/A N/A N/A
2013...... 11.623 15.122 108 N/A N/A N/A
2014...... 15.122 16.775 103 16.260 18.356 1*
2015...... 16.775 16.735 116 18.356 18.322 5
2016...... 16.735 17.912 113 18.322 19.620 4
----------- ------ ------ --- ------ ------ ---
Fidelity VIP Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 11.412 11.488 1* N/A N/A N/A
2013...... 11.488 15.522 4 N/A N/A N/A
2014...... 15.522 17.120 8 N/A N/A N/A
2015...... 17.120 18.183 12 N/A N/A N/A
2016...... 18.183 18.165 12 21.061 21.170 1*
----------- ------ ------ --- ------ ------ ---

C-3
<PAGE>

Fidelity VIP Mid Cap
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 12.222 10.798 1*
2012...... 12.389 12.619 1* 10.798 12.259 4
2013...... 12.619 16.957 1* 12.259 16.507 14
2014...... 16.957 17.783 1* 16.507 17.346 6
2015...... 17.783 17.302 1* 17.346 16.911 14
2016...... 17.302 19.154 1* 16.911 18.758 4
---------- ------ ------ --- ------ ------ ---
Fidelity VIP Overseas(3)
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
Franklin Income VIP
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 11.775 12.423 1*
2013...... N/A N/A N/A 12.423 14.028 1*
2014...... 15.692 15.059 7 14.028 14.544 1*
2015...... 15.059 13.844 12 14.544 13.397 1*
2016...... 13.844 15.612 14 13.397 15.139 1*
---------- ------ ------ --- ------ ------ ---
Franklin Mutual Shares VIP
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 9.024 8.850 2
2012...... N/A N/A N/A 8.850 10.020 5
2013...... N/A N/A N/A 10.020 12.736 5
2014...... N/A N/A N/A 12.736 13.521 5
2015...... N/A N/A N/A 13.521 12.738 2
2016...... N/A N/A N/A 12.738 14.652 2
---------- ------ ------ --- ------ ------ ---
FTVIPT Franklin Small-Mid Cap Growth Securities(4)
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
Invesco V.I. International Growth
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
JPMorgan Insurance Trust Global Allocation
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP American Century Select Mid Cap Managed Volatility
2014...... 10.830 11.253 1* 10.136 11.275 1*
2015...... N/A N/A N/A 11.275 10.700 1*
2016...... N/A N/A N/A 10.700 12.453 10
---------- ------ ------ --- ------ ------ ---
LVIP American Global Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 12.152 13.502 10
2013...... N/A N/A N/A 13.502 17.220 9
2014...... N/A N/A N/A 17.220 17.385 4
2015...... N/A N/A N/A 17.385 18.362 6
2016...... N/A N/A N/A 18.362 18.240 5
---------- ------ ------ --- ------ ------ ---
LVIP American Global Small Capitalization
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 10.602 11.914 1*
2013...... N/A N/A N/A 11.914 15.088 10
2014...... N/A N/A N/A 15.088 15.206 6
2015...... 14.720 14.883 4 15.206 15.047 14
2016...... N/A N/A N/A 15.047 15.163 6
---------- ------ ------ --- ------ ------ ---

Fidelity VIP Mid Cap
2010...... 11.320 12.348 8 N/A N/A N/A
2011...... 12.348 10.937 42 N/A N/A N/A
2012...... 10.937 12.448 51 N/A N/A N/A
2013...... 12.448 16.804 53 15.334 16.186 1*
2014...... 16.804 17.702 52 16.186 17.060 1*
2015...... 17.702 17.301 67 17.060 16.682 2
2016...... 17.301 19.238 68 16.682 18.559 3
----------- ------ ------ -- ------ ------ ---
Fidelity VIP Overseas(3)
2010...... N/A N/A N/A N/A N/A N/A
2011...... 9.643 7.920 2 N/A N/A N/A
2012...... 7.920 9.472 1* N/A N/A N/A
2013...... 9.472 10.610 1* N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
Franklin Income VIP
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.080 11.270 3 N/A N/A N/A
2012...... 11.270 12.614 25 N/A N/A N/A
2013...... 12.614 14.280 19 N/A N/A N/A
2014...... 14.280 14.842 48 N/A N/A N/A
2015...... 14.842 13.706 60 N/A N/A N/A
2016...... 13.706 15.526 49 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
Franklin Mutual Shares VIP
2010...... N/A N/A N/A N/A N/A N/A
2011...... 9.117 8.964 45 N/A N/A N/A
2012...... 8.964 10.174 86 N/A N/A N/A
2013...... 10.174 12.965 85 14.889 15.416 1*
2014...... 12.965 13.798 92 15.416 16.415 2
2015...... 13.798 13.032 81 16.415 15.512 8
2016...... 13.032 15.027 74 15.512 17.895 5
----------- ------ ------ --- ------ ------ ---
FTVIPT Franklin Small-Mid Cap Growth
Securities(4)
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
Invesco V.I. International Growth
2014...... 10.285 9.671 14 9.401 9.674 3
2015...... 9.671 9.357 14 9.674 9.365 3
2016...... 9.357 9.232 26 9.365 9.244 2
----------- ------ ------ --- ------ ------ ---
JPMorgan Insurance Trust Global Allocation
2015...... 9.423 9.482 24 N/A N/A N/A
2016...... 9.482 9.971 16 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP American Century Select Mid Cap Managed Volatility
2014...... 10.354 11.303 8 10.424 11.309 1*
2015...... 11.303 10.754 34 11.309 10.765 1*
2016...... 10.754 12.547 43 10.765 12.566 1*
----------- ------ ------ --- ------ ------ ---
LVIP American Global Growth
2010...... 11.484 12.422 8 N/A N/A N/A
2011...... 12.422 11.199 8 N/A N/A N/A
2012...... 11.199 13.586 6 N/A N/A N/A
2013...... 13.586 17.370 10 16.444 17.401 1*
2014...... 17.370 17.580 13 17.401 17.619 1*
2015...... 17.580 18.615 39 17.619 18.674 1*
2016...... 18.615 18.538 22 18.674 18.604 1*
----------- ------ ------ --- ------ ------ ---
LVIP American Global Small Capitalization
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.810 10.248 2 N/A N/A N/A
2012...... 10.248 11.989 6 N/A N/A N/A
2013...... 11.989 15.221 6 N/A N/A N/A
2014...... 15.221 15.378 11 N/A N/A N/A
2015...... 15.378 15.256 22 17.570 15.298 1*
2016...... 15.256 15.412 13 15.298 15.462 2
----------- ------ ------ --- ------ ------ ---

C-4
<PAGE>

LVIP American Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 12.528 13.770 2
2013...... N/A N/A N/A 13.770 17.693 4
2014...... N/A N/A N/A 17.693 18.960 7
2015...... N/A N/A N/A 18.960 20.006 14
2016...... 19.586 21.352 10 20.006 21.631 7
---------- ------ ------ --- ------ ------ ---
LVIP American Growth-Income
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 12.887 13.718 2
2013...... N/A N/A N/A 13.718 18.084 4
2014...... 18.990 19.584 4 18.084 19.762 9
2015...... 19.584 19.587 5 19.762 19.804 10
2016...... 19.587 21.534 10 19.804 21.816 10
---------- ------ ------ --- ------ ------ ---
LVIP American International
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 12.299 10.442 1*
2012...... N/A N/A N/A 10.442 12.154 3
2013...... N/A N/A N/A 12.154 14.593 4
2014...... N/A N/A N/A 14.593 14.028 10
2015...... N/A N/A N/A 14.028 13.230 10
2016...... N/A N/A N/A 13.230 13.524 10
---------- ------ ------ --- ------ ------ ---
LVIP Baron Growth Opportunities
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.651 10.980 1*
2012...... N/A N/A N/A 10.980 12.867 9
2013...... N/A N/A N/A 12.867 17.861 9
2014...... N/A N/A N/A 17.861 18.560 3
2015...... 18.829 19.280 3 18.560 17.516 3
2016...... N/A N/A N/A 17.516 18.326 3
---------- ------ ------ --- ------ ------ ---
LVIP BlackRock Dividend Value Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 11.109 11.858 3
2014...... N/A N/A N/A 11.858 12.131 7
2015...... N/A N/A N/A 12.131 11.410 3
2016...... N/A N/A N/A 11.410 12.628 8
---------- ------ ------ --- ------ ------ ---
LVIP BlackRock Emerging Markets Managed Volatility(6)
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 9.802 10.014 1*
2014...... 10.371 9.371 1* 10.014 9.415 7
2015...... N/A N/A N/A 9.415 7.911 7
2016...... N/A N/A N/A 7.911 8.368 9
---------- ------ ------ --- ------ ------ ---
LVIP BlackRock Global Allocation V.I. Managed Risk
2013...... N/A N/A N/A 9.929 10.454 1*
2014...... 10.381 10.269 1* 10.454 10.303 7
2015...... N/A N/A N/A 10.303 9.736 3
2016...... N/A N/A N/A 9.736 9.889 3
---------- ------ ------ --- ------ ------ ---
LVIP BlackRock Global Growth ETF Allocation Managed Risk
2016...... N/A N/A N/A 10.280 10.181 26
---------- ------ ------ --- ------ ------ ---
LVIP BlackRock Inflation Protected Bond
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.143 11.246 60
2012...... 11.319 11.780 1* 11.246 11.842 33
2013...... 11.780 10.652 1* 11.842 10.730 7
2014...... 10.652 10.839 2 10.730 10.940 10
2015...... 10.839 10.397 2 10.940 10.515 10
2016...... 10.397 10.626 2 10.515 10.767 10
---------- ------ ------ --- ------ ------ ---

LVIP American Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.539 11.875 31 N/A N/A N/A
2012...... 11.875 13.857 34 N/A N/A N/A
2013...... 13.857 17.849 32 17.100 17.880 1*
2014...... 17.849 19.176 35 17.880 19.218 3
2015...... 19.176 20.283 50 19.218 20.339 4
2016...... 20.283 21.986 54 20.339 22.057 3
----------- ------ ------ --- ------ ------ ---
LVIP American Growth-Income
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.221 11.871 5 N/A N/A N/A
2012...... 11.871 13.804 11 N/A N/A N/A
2013...... 13.804 18.243 26 17.384 18.275 1*
2014...... 18.243 19.985 31 18.275 20.029 1*
2015...... 19.985 20.078 53 N/A N/A N/A
2016...... 20.078 22.173 44 19.770 22.241 2
----------- ------ ------ --- ------ ------ ---
LVIP American International
2010...... 11.774 12.315 8 N/A N/A N/A
2011...... 12.315 10.482 36 N/A N/A N/A
2012...... 10.482 12.232 40 N/A N/A N/A
2013...... 12.232 14.724 56 N/A N/A N/A
2014...... 14.724 14.189 63 14.188 14.221 6
2015...... 14.189 13.415 60 14.221 13.452 2
2016...... 13.415 13.748 45 13.452 13.792 3
----------- ------ ------ --- ------ ------ ---
LVIP Baron Growth Opportunities
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.761 11.121 8 N/A N/A N/A
2012...... 11.121 13.065 20 N/A N/A N/A
2013...... 13.065 18.181 25 N/A N/A N/A
2014...... 18.181 18.940 27 18.795 20.533 3
2015...... 18.940 17.919 31 20.533 19.436 2
2016...... 17.919 18.795 31 19.436 20.396 1*
----------- ------ ------ --- ------ ------ ---
LVIP BlackRock Dividend Value Managed
Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... 9.204 8.887 18 N/A N/A N/A
2012...... 8.887 10.303 37 N/A N/A N/A
2013...... 10.303 12.071 86 13.421 14.735 2
2014...... 12.071 12.380 99 14.735 15.120 7
2015...... 12.380 11.673 126 15.120 14.264 2
2016...... 11.673 12.951 185 14.264 15.834 2
----------- ------ ------ --- ------ ------ ---
LVIP BlackRock Emerging Markets Managed Volatility(6)
2012...... 10.237 11.008 10 N/A N/A N/A
2013...... 11.008 10.048 39 10.076 10.055 1*
2014...... 10.048 9.470 71 10.055 9.482 7
2015...... 9.470 7.977 109 9.482 7.991 7
2016...... 7.977 8.458 126 7.991 8.476 5
----------- ------ ------ --- ------ ------ ---
LVIP BlackRock Global Allocation V.I. Managed Risk
2013...... 9.819 10.471 88 N/A N/A N/A
2014...... 10.471 10.345 259 N/A N/A N/A
2015...... 10.345 9.800 332 N/A N/A N/A
2016...... 9.800 9.980 331 9.702 9.998 2
----------- ------ ------ --- ------ ------ ---
LVIP BlackRock Global Growth ETF Allocation Managed Risk
2016...... 10.048 10.197 59 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP BlackRock Inflation Protected Bond
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.159 11.292 37 N/A N/A N/A
2012...... 11.292 11.919 54 N/A N/A N/A
2013...... 11.919 10.827 57 N/A N/A N/A
2014...... 10.827 11.067 58 N/A N/A N/A
2015...... 11.067 10.664 60 N/A N/A N/A
2016...... 10.664 10.947 74 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---

C-5
<PAGE>

LVIP BlackRock U.S. Growth ETF Allocation Managed Risk
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ --- -------- -- --- ---
LVIP BlackRock U.S. Opportunities Managed Volatility(7)
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ --- -------- -- --- ---
LVIP Blended Core Equity Managed Volatility
2014...... N/A N/A N/A 10.639 10.501 2
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A 9.710 10.731 3
---------- ------ --- -------- ------ ------ ---
LVIP Blended Large Cap Growth Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 11.297 11.414 2
2013...... N/A N/A N/A 11.414 14.160 4
2014...... N/A N/A N/A 14.160 14.748 6
2015...... N/A N/A N/A 14.748 14.774 1*
2016...... N/A N/A N/A 14.774 14.414 2
---------- ------ --- -------- ------ ------ ---
LVIP Blended Mid Cap Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 11.598 12.069 3
2014...... 10.614 10.891 4 12.069 11.058 12
2015...... N/A N/A N/A 11.058 10.473 8
2016...... N/A N/A N/A 10.473 10.586 11
---------- ------ ------ --- ------ ------ ---
LVIP Clarion Global Real Estate
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 7.517 6.787 2
2012...... N/A N/A N/A 6.787 8.366 3
2013...... N/A N/A N/A 8.366 8.543 4
2014...... N/A N/A N/A 8.543 9.618 4
2015...... N/A N/A N/A 9.618 9.392 1*
2016...... N/A N/A N/A 9.392 9.396 1*
---------- ------ ------ --- ------ ------ ---
LVIP ClearBridge Large Cap Managed Volatility
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP Delaware Bond
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 13.766 14.255 1* 13.625 14.097 5
2013...... 14.255 13.727 1* 14.097 13.601 13
2014...... 13.727 14.337 2 13.601 14.235 18
2015...... 14.337 14.185 7 14.235 14.112 10
2016...... 14.185 14.362 1* 14.112 14.317 21
---------- ------ ------ --- ------ ------ ---
LVIP Delaware Diversified Floating Rate
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 10.223 10.246 1*
2013...... N/A N/A N/A 10.246 10.206 4
2014...... 10.173 10.058 6 10.206 10.151 4
2015...... 10.058 9.851 3 10.151 9.963 3
2016...... N/A N/A N/A 9.963 10.071 7
---------- ------ ------ --- ------ ------ ---
LVIP Delaware Social Awareness
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 9.412 9.355 1*
2012...... N/A N/A N/A 9.355 10.651 1*
2013...... N/A N/A N/A 10.651 14.272 1*
2014...... N/A N/A N/A 14.272 16.237 9
2015...... N/A N/A N/A 16.237 15.930 1*
2016...... N/A N/A N/A 15.930 16.776 1*
---------- ------ ------ --- ------ ------ ---

LVIP BlackRock U.S. Growth ETF Allocation Managed Risk
2016...... 10.091 10.483 7 N/A N/A N/A
----------- ------ ------ - ------ ------ ---
LVIP BlackRock U.S. Opportunities Managed Volatility(7)
2015...... 9.919 9.047 8 N/A N/A N/A
2016...... 9.047 9.528 21 N/A N/A N/A
----------- ------ ------ -- ------ ------ ---
LVIP Blended Core Equity Managed Volatility
2014...... 10.166 10.527 4 N/A N/A N/A
2015...... 10.527 10.016 43 N/A N/A N/A
2016...... 10.016 10.812 55 10.248 10.829 1*
----------- ------ ------ -- ------ ------ ---
LVIP Blended Large Cap Growth Managed
Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 11.447 11.590 15 N/A N/A N/A
2013...... 11.590 14.415 34 13.402 14.823 2
2014...... 14.415 15.050 41 14.823 15.484 3
2015...... 15.050 15.115 63 15.484 15.559 3
2016...... 15.115 14.783 94 15.559 15.225 3
----------- ------ ------ --- ------ ------ ---
LVIP Blended Mid Cap Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.264 9.399 4 N/A N/A N/A
2012...... 9.399 9.919 11 N/A N/A N/A
2013...... 9.919 12.271 40 N/A N/A N/A
2014...... 12.271 11.271 69 14.411 13.387 1*
2015...... 11.271 10.701 84 13.387 12.716 1*
2016...... 10.701 10.845 140 12.716 12.894 1*
----------- ------ ------ --- ------ ------ ---
LVIP Clarion Global Real Estate
2010...... N/A N/A N/A N/A N/A N/A
2011...... 7.586 6.866 16 N/A N/A N/A
2012...... 6.866 8.485 30 N/A N/A N/A
2013...... 8.485 8.686 34 13.320 13.445 1*
2014...... 8.686 9.804 37 13.445 15.182 10
2015...... 9.804 9.597 33 15.182 14.870 10
2016...... 9.597 9.625 30 14.870 14.920 8
----------- ------ ------ --- ------ ------ ---
LVIP ClearBridge Large Cap Managed Volatility
2015...... 9.735 9.305 22 N/A N/A N/A
2016...... 9.305 9.561 35 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP Delaware Bond
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.726 13.562 30 N/A N/A N/A
2012...... 13.562 14.314 89 N/A N/A N/A
2013...... 14.314 13.845 65 11.234 11.261 4
2014...... 13.845 14.526 144 11.261 11.821 4
2015...... 14.526 14.437 285 11.821 11.754 4
2016...... 14.437 14.683 327 11.754 11.960 6
----------- ------ ------ --- ------ ------ ---
LVIP Delaware Diversified Floating Rate
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.100 9.986 51 N/A N/A N/A
2012...... 9.986 10.314 78 N/A N/A N/A
2013...... 10.314 10.299 182 10.269 10.318 6
2014...... 10.299 10.269 199 10.318 10.293 17
2015...... 10.269 10.104 228 10.293 10.132 17
2016...... 10.104 10.240 211 10.132 10.273 16
----------- ------ ------ --- ------ ------ ---
LVIP Delaware Social Awareness
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... 16.105 16.570 1* N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... 14.495 17.204 2 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---

C-6
<PAGE>

LVIP Delaware Special Opportunities
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A 13.551 14.252 1*
2015...... N/A N/A N/A 14.252 14.112 1*
2016...... N/A N/A N/A 14.112 16.780 7
---------- ------ --- --- ------ ------ ---
LVIP Dimensional International Core Equity
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ --- --- ------ ------ ---
LVIP Dimensional International Equity Managed Volatility
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 9.133 9.789 1*
2013...... N/A N/A N/A 9.789 11.140 1*
2014...... 11.460 10.113 11 11.140 10.186 1*
2015...... 10.113 9.581 5 10.186 9.670 1*
2016...... N/A N/A N/A 9.670 9.748 1*
---------- ------ ------ --- ------ ------ ---
LVIP Dimensional U.S. Core Equity 1
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A 15.161 15.502 3
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP Dimensional U.S. Core Equity 2
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP Dimensional U.S. Equity Managed Volatility
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... 14.224 14.311 8 14.370 14.415 1*
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A 13.062 14.464 3
---------- ------ ------ --- ------ ------ ---
LVIP Dimensional/Vanguard Total Bond
2011...... N/A N/A N/A 10.078 10.389 1*
2012...... N/A N/A N/A 10.389 10.655 4
2013...... N/A N/A N/A 10.655 10.242 6
2014...... 10.422 10.519 1* 10.242 10.596 11
2015...... N/A N/A N/A 10.596 10.508 6
2016...... N/A N/A N/A 10.508 10.605 13
---------- ------ ------ --- ------ ------ ---
LVIP Franklin Templeton Global Equity Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 8.079 7.739 1*
2012...... N/A N/A N/A 7.739 9.273 14
2013...... N/A N/A N/A 9.273 10.995 9
2014...... N/A N/A N/A 10.995 10.653 18
2015...... N/A N/A N/A 10.653 9.686 9
2016...... N/A N/A N/A 9.686 9.807 10
---------- ------ ------ --- ------ ------ ---
LVIP Franklin Templeton Value Managed Volatility
2014...... N/A N/A N/A 10.025 10.340 1*
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A 9.398 10.363 1*
---------- ------ ------ --- ------ ------ ---

LVIP Delaware Special Opportunities
2010...... N/A N/A N/A N/A N/A N/A
2011...... 9.636 9.044 3 N/A N/A N/A
2012...... 9.044 10.291 3 N/A N/A N/A
2013...... 10.291 13.631 5 N/A N/A N/A
2014...... 13.631 14.525 5 N/A N/A N/A
2015...... 14.525 14.418 34 N/A N/A N/A
2016...... 14.418 17.187 35 N/A N/A N/A
----------- ------ ------ --- -- --- ---
LVIP Dimensional International Core Equity
2015...... 9.591 9.027 1* 8.751 9.030 4
2016...... 9.027 9.349 12 9.030 9.357 10
----------- ------ ------ --- ----- ----- ---
LVIP Dimensional International Equity Managed Volatility
2011...... 8.674 8.350 3 N/A N/A N/A
2012...... 8.350 9.828 9 N/A N/A N/A
2013...... 9.828 11.213 19 10.384 11.228 3
2014...... 11.213 10.279 83 11.228 10.297 3
2015...... 10.279 9.782 101 10.297 9.805 5
2016...... 9.782 9.886 122 9.805 9.914 6
----------- ------ ------ --- ------ ------ ---
LVIP Dimensional U.S. Core Equity 1
2010...... N/A N/A N/A N/A N/A N/A
2011...... 9.355 9.372 1* N/A N/A N/A
2012...... 9.372 10.701 1* N/A N/A N/A
2013...... 10.701 14.118 1* N/A N/A N/A
2014...... 14.118 15.818 1* N/A N/A N/A
2015...... 15.818 15.346 1* 17.606 18.114 8
2016...... 15.346 17.382 11 18.114 20.528 11
----------- ------ ------ --- ------ ------ ---
LVIP Dimensional U.S. Core Equity 2
2015...... 9.404 9.423 1* N/A N/A N/A
2016...... 9.423 10.904 29 9.737 10.913 6
----------- ------ ------ --- ------ ------ ---
LVIP Dimensional U.S. Equity Managed Volatility
2011...... 8.431 9.412 4 N/A N/A N/A
2012...... 9.412 10.951 36 N/A N/A N/A
2013...... 10.951 14.020 58 12.888 14.038 4
2014...... 14.020 14.546 213 14.038 14.573 4
2015...... 14.546 13.319 208 14.573 13.350 1*
2016...... 13.319 14.669 225 13.350 14.711 1*
----------- ------ ------ --- ------ ------ ---
LVIP Dimensional/Vanguard Total Bond
2011...... 10.339 10.406 7 N/A N/A N/A
2012...... 10.406 10.698 41 N/A N/A N/A
2013...... 10.698 10.309 62 10.368 10.323 5
2014...... 10.309 10.692 337 10.323 10.712 5
2015...... 10.692 10.630 350 10.712 10.655 1*
2016...... 10.630 10.756 369 10.655 10.787 16
----------- ------ ------ --- ------ ------ ---
LVIP Franklin Templeton Global Equity Managed
Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... 8.152 7.829 7 N/A N/A N/A
2012...... 7.829 9.405 32 N/A N/A N/A
2013...... 9.405 11.178 111 14.522 15.494 2
2014...... 11.178 10.858 145 15.494 15.058 2
2015...... 10.858 9.897 123 15.058 13.732 2
2016...... 9.897 10.045 97 13.732 13.945 2
----------- ------ ------ --- ------ ------ ---
LVIP Franklin Templeton Value Managed Volatility
2014...... 10.302 10.365 11 10.255 10.371 4
2015...... 10.365 9.471 56 10.371 9.481 4
2016...... 9.471 10.440 76 9.481 10.456 4
----------- ------ ------ --- ------ ------ ---

C-7
<PAGE>

LVIP Global Conservative Allocation Managed Risk
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 12.314 13.006 57
2013...... N/A N/A N/A 13.006 14.111 63
2014...... N/A N/A N/A 14.111 14.744 66
2015...... N/A N/A N/A 14.744 14.286 64
2016...... N/A N/A N/A 14.286 14.830 58
---------- ------ ------ -------- ------ ------ ---
LVIP Global Growth Allocation Managed Risk
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 11.545 11.697 2 10.354 11.064 57
2013...... N/A N/A N/A 11.064 12.419 105
2014...... 13.544 13.375 1* 12.419 12.702 122
2015...... N/A N/A N/A 12.702 12.094 149
2016...... N/A N/A N/A 12.094 12.523 178
---------- ------ ------ --- ------ ------ ---
LVIP Global Income
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 11.623 11.615 2
2012...... 11.919 12.279 1* 11.615 12.365 6
2013...... 12.279 11.773 1* 12.365 11.879 37
2014...... 11.773 11.840 6 11.879 11.971 24
2015...... 11.840 11.445 1* 11.971 11.595 20
2016...... 11.445 11.349 1* 11.595 11.521 20
---------- ------ ------ --- ------ ------ ---
LVIP Global Moderate Allocation Managed Risk
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 12.486 12.643 2 11.340 12.088 77
2013...... N/A N/A N/A 12.088 13.367 137
2014...... N/A N/A N/A 13.367 13.762 136
2015...... N/A N/A N/A 13.762 13.145 140
2016...... N/A N/A N/A 13.145 13.559 99
---------- ------ ------ --- ------ ------ ---
LVIP Government Money Market
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 10.368 10.278 1*
2012...... N/A N/A N/A 10.278 10.189 2
2013...... N/A N/A N/A 10.189 10.100 1*
2014...... N/A N/A N/A 10.100 10.012 1*
2015...... N/A N/A N/A 10.012 9.924 1*
2016...... N/A N/A N/A 9.924 9.838 1*
---------- ------ ------ --- ------ ------ ---
LVIP Invesco Diversified Equity-Income Managed Volatility
2014...... N/A N/A N/A 9.954 10.305 1*
2015...... N/A N/A N/A 10.305 9.684 2
2016...... N/A N/A N/A 9.684 10.629 2
---------- ------ ------ --- ------ ------ ---
LVIP Invesco Select Equity Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP JPMorgan High Yield
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 12.744 13.198 2
2014...... N/A N/A N/A 13.198 13.418 3
2015...... N/A N/A N/A 13.418 12.743 3
2016...... N/A N/A N/A 12.743 14.267 3
---------- ------ ------ --- ------ ------ ---

LVIP Global Conservative Allocation Managed
Risk
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.814 12.140 16 N/A N/A N/A
2012...... 12.140 13.207 152 11.681 12.057 32
2013...... 13.207 14.365 118 N/A N/A N/A
2014...... 14.365 15.047 137 13.683 13.750 4
2015...... 15.047 14.615 116 13.750 13.363 4
2016...... 14.615 15.211 106 13.363 13.914 2
----------- ------ ------ ---- ------ ------ ---
LVIP Global Growth Allocation Managed Risk
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 10.475 11.234 553 N/A N/A N/A
2013...... 11.234 12.642 1,473 N/A N/A N/A
2014...... 12.642 12.962 1539 N/A N/A N/A
2015...... 12.962 12.372 1447 14.012 13.316 4
2016...... 12.372 12.844 1224 13.316 13.830 1*
----------- ------ ------ ----- ------ ------ ---
LVIP Global Income
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.673 11.694 44 N/A N/A N/A
2012...... 11.694 12.481 78 N/A N/A N/A
2013...... 12.481 12.020 103 11.041 11.096 2
2014...... 12.020 12.143 120 11.096 11.215 13
2015...... 12.143 11.791 136 11.215 10.895 21
2016...... 11.791 11.745 128 10.895 10.858 19
----------- ------ ------ ----- ------ ------ ---
LVIP Global Moderate Allocation Managed Risk
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.272 11.301 2 N/A N/A N/A
2012...... 11.301 12.274 329 N/A N/A N/A
2013...... 12.274 13.607 754 13.074 13.384 13
2014...... 13.607 14.044 1028 13.384 13.821 26
2015...... 14.044 13.448 1005 13.821 13.241 25
2016...... 13.448 13.905 836 13.241 13.699 22
----------- ------ ------ ----- ------ ------ ---
LVIP Government Money Market
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.475 10.410 20 N/A N/A N/A
2012...... 10.410 10.346 35 N/A N/A N/A
2013...... 10.346 10.281 86 9.815 9.796 26
2014...... 10.281 10.217 27 9.796 9.740 1*
2015...... 10.217 10.153 43 9.740 9.681 3
2016...... 10.153 10.090 140 9.681 9.626 2
----------- ------ ------ ----- ------ ------ ---
LVIP Invesco Diversified Equity-Income Managed Volatility
2014...... 10.018 10.321 2 N/A N/A N/A
2015...... 10.321 9.724 28 N/A N/A N/A
2016...... 9.724 10.700 58 9.948 10.715 1*
----------- ------ ------ ----- ------ ------ ---
LVIP Invesco Select Equity Managed Volatility
2014...... 10.282 10.381 2 10.100 10.386 2
2015...... 10.381 9.395 21 10.386 9.404 2
2016...... 9.395 9.881 19 N/A N/A N/A
----------- ------ ------ ----- ------ ------ ---
LVIP JPMorgan High Yield
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.869 11.073 3 N/A N/A N/A
2012...... 11.073 12.611 17 N/A N/A N/A
2013...... 12.611 13.318 34 13.272 13.343 1*
2014...... 13.318 13.574 28 13.343 13.605 1*
2015...... 13.574 12.923 57 13.605 12.959 1*
2016...... 12.923 14.505 41 12.959 14.553 4
----------- ------ ------ ----- ------ ------ ---

C-8
<PAGE>

LVIP JPMorgan Select Mid Cap Value Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 9.973 10.173 11
2013...... N/A N/A N/A 10.173 12.488 3
2014...... 12.419 13.160 1* 12.488 13.347 13
2015...... N/A N/A N/A 13.347 12.174 9
2016...... N/A N/A N/A 12.174 13.238 12
---------- ------ ------ --- ------ ------ ---
LVIP MFS International Equity Managed Volatility
2013...... N/A N/A N/A 9.823 10.092 1*
2014...... N/A N/A N/A 10.092 9.266 2
2015...... N/A N/A N/A 9.266 9.171 1*
2016...... N/A N/A N/A 9.171 8.948 4
---------- ------ ------ --- ------ ------ ---
LVIP MFS International Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 8.393 8.825 2 8.394 8.925 2
2013...... 8.825 9.892 2 8.925 10.024 2
2014...... 9.892 9.266 2 10.024 9.408 2
2015...... 9.266 9.261 2 9.408 9.422 2
2016...... 9.261 9.288 2 9.422 9.468 2
---------- ------ ------ --- ------ ------ ---
LVIP MFS Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 10.592 13.144 3
2014...... N/A N/A N/A 13.144 14.359 4
2015...... N/A N/A N/A 14.359 14.118 5
2016...... N/A N/A N/A 14.118 15.919 6
---------- ------ ------ --- ------ ------ ---
LVIP Mondrian International Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 9.980 10.857 1*
2014...... N/A N/A N/A 10.857 10.462 1*
2015...... N/A N/A N/A 10.462 9.952 2
2016...... N/A N/A N/A 9.952 10.234 2
---------- ------ ------ --- ------ ------ ---
LVIP Multi-Manager Global Equity Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP PIMCO Low Duration Bond
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A 10.023 9.994 42
2016...... N/A N/A N/A 9.994 10.139 37
---------- ------ ------ --- ------ ------ ---
LVIP Select Core Equity Managed Volatility
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A 11.242 11.644 2
2015...... N/A N/A N/A 11.644 10.946 1*
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Bond Index
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 11.980 11.930 1*
2014...... 12.080 12.310 1* 11.930 12.472 4
2015...... N/A N/A N/A 12.472 12.360 5
2016...... N/A N/A N/A 12.360 12.499 11
---------- ------ ------ --- ------ ------ ---

LVIP JPMorgan Select Mid Cap Value Managed
Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... 9.401 9.152 4 N/A N/A N/A
2012...... 9.152 10.317 21 N/A N/A N/A
2013...... 10.317 12.697 44 13.972 15.142 1*
2014...... 12.697 13.605 72 15.142 16.233 1*
2015...... 13.605 12.440 97 16.233 14.851 1*
2016...... 12.440 13.561 126 14.851 16.198 1*
----------- ------ ------ --- ------ ------ ---
LVIP MFS International Equity Managed Volatility
2013...... 9.538 10.110 10 N/A N/A N/A
2014...... 10.110 9.307 21 N/A N/A N/A
2015...... 9.307 9.234 78 N/A N/A N/A
2016...... 9.234 9.032 100 9.183 9.050 1*
----------- ------ ------ --- ------ ------ ---
LVIP MFS International Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... 8.564 7.649 8 N/A N/A N/A
2012...... 7.649 9.052 11 N/A N/A N/A
2013...... 9.052 10.191 8 N/A N/A N/A
2014...... 10.191 9.590 16 N/A N/A N/A
2015...... 9.590 9.627 18 N/A N/A N/A
2016...... 9.627 9.699 17 14.959 14.076 1*
----------- ------ ------ --- ------ ------ ---
LVIP MFS Value
2010...... 7.963 8.689 17 N/A N/A N/A
2011...... 8.689 8.602 26 N/A N/A N/A
2012...... 8.602 9.918 12 N/A N/A N/A
2013...... 9.918 13.363 31 N/A N/A N/A
2014...... 13.363 14.635 26 17.594 18.448 1*
2015...... 14.635 14.425 59 18.448 18.193 4
2016...... 14.425 16.307 67 18.193 20.577 3
----------- ------ ------ --- ------ ------ ---
LVIP Mondrian International Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... 8.874 8.423 10 N/A N/A N/A
2012...... 8.423 9.150 5 N/A N/A N/A
2013...... 9.150 11.051 8 N/A N/A N/A
2014...... 11.051 10.676 5 N/A N/A N/A
2015...... 10.676 10.181 4 N/A N/A N/A
2016...... 10.181 10.495 12 13.640 13.708 1*
----------- ------ ------ --- ------ ------ ---
LVIP Multi-Manager Global Equity Managed Volatility
2014...... N/A N/A N/A N/A N/A N/A
2015...... 10.147 9.103 8 N/A N/A N/A
2016...... 9.103 9.545 7 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP PIMCO Low Duration Bond
2014...... 10.008 9.960 3 N/A N/A N/A
2015...... 9.960 10.035 77 10.059 10.044 5
2016...... 10.035 10.207 118 10.044 10.220 1*
----------- ------ ------ --- ------ ------ ---
LVIP Select Core Equity Managed Volatility
2013...... 10.152 11.122 17 10.168 11.125 3
2014...... 11.122 11.692 74 11.125 11.701 5
2015...... 11.692 11.018 138 11.701 11.032 5
2016...... 11.018 11.627 108 11.032 11.648 4
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Bond Index
2010...... 11.524 11.435 22 N/A N/A N/A
2011...... 11.435 12.171 24 N/A N/A N/A
2012...... 12.171 12.527 23 N/A N/A N/A
2013...... 12.527 12.096 31 10.863 10.813 4
2014...... 12.096 12.677 48 10.813 11.338 9
2015...... 12.677 12.595 95 11.338 11.270 8
2016...... 12.595 12.768 117 11.270 11.430 4
----------- ------ ------ --- ------ ------ ---

C-9
<PAGE>

LVIP SSGA Conservative Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ -------- -- --- ---
LVIP SSGA Conservative Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ -------- -- --- ---
LVIP SSGA Developed International 150
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 10.390 11.061 11
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ -------- ------ ------ ---
LVIP SSGA Emerging Markets 100
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 14.421 13.491 1*
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A 13.601 10.152 1*
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ -------- ------ ------ ---
LVIP SSGA Global Tactical Allocation Managed Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 9.632 10.028 4
2013...... N/A N/A N/A 10.028 10.885 21
2014...... N/A N/A N/A 10.885 11.188 20
2015...... N/A N/A N/A 11.188 10.339 17
2016...... N/A N/A N/A 10.339 10.796 7
---------- ------ ------ -------- ------ ------ ---
LVIP SSGA International Index
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 9.581 10.388 5
2014...... N/A N/A N/A 10.388 9.670 6
2015...... N/A N/A N/A 9.670 9.442 6
2016...... N/A N/A N/A 9.442 9.427 6
---------- ------ ------ -------- ------ ------ ---
LVIP SSGA International Managed Volatility
2014...... N/A N/A N/A 10.002 9.235 1*
2015...... N/A N/A N/A 9.235 8.809 1*
2016...... N/A N/A N/A 8.809 8.398 9
---------- ------ ------ -------- ------ ------ ---
LVIP SSGA Large Cap 100
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 14.628 16.620 1*
2014...... N/A N/A N/A 16.620 19.179 8
2015...... 19.439 17.804 2 19.179 18.074 2
2016...... N/A N/A N/A 18.074 21.714 6
---------- ------ ------ --- ------ ------ ---

LVIP SSGA Conservative Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.482 10.669 4 N/A N/A N/A
2012...... 10.669 11.535 10 N/A N/A N/A
2013...... 11.535 12.208 81 N/A N/A N/A
2014...... 12.208 12.671 84 N/A N/A N/A
2015...... 12.671 12.439 83 N/A N/A N/A
2016...... 12.439 12.945 85 N/A N/A N/A
----------- ------ ------ --- -- --- ---
LVIP SSGA Conservative Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.436 10.631 17 N/A N/A N/A
2012...... 10.631 11.417 16 N/A N/A N/A
2013...... 11.417 12.114 6 N/A N/A N/A
2014...... 12.114 12.670 33 N/A N/A N/A
2015...... 12.670 12.324 33 N/A N/A N/A
2016...... 12.324 13.048 28 N/A N/A N/A
----------- ------ ------ --- -- --- ---
LVIP SSGA Developed International 150
2010...... 8.950 9.590 3 N/A N/A N/A
2011...... 9.590 8.351 4 N/A N/A N/A
2012...... 8.351 9.405 4 N/A N/A N/A
2013...... 9.405 11.214 5 N/A N/A N/A
2014...... 11.214 11.214 17 N/A N/A N/A
2015...... 11.214 10.636 19 N/A N/A N/A
2016...... 10.636 11.567 18 N/A N/A N/A
----------- ------ ------ --- -- --- ---
LVIP SSGA Emerging Markets 100
2010...... 12.448 14.497 2 N/A N/A N/A
2011...... 14.497 12.220 4 N/A N/A N/A
2012...... 12.220 13.644 8 N/A N/A N/A
2013...... 13.644 13.139 10 N/A N/A N/A
2014...... 13.139 12.582 17 N/A N/A N/A
2015...... 12.582 10.344 17 12.549 9.293 1*
2016...... 10.344 11.835 23 9.293 10.638 5
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Global Tactical Allocation Managed
Volatility
2010...... N/A N/A N/A N/A N/A N/A
2011...... 9.307 9.243 137 N/A N/A N/A
2012...... 9.243 10.182 206 N/A N/A N/A
2013...... 10.182 11.081 338 N/A N/A N/A
2014...... 11.081 11.417 316 N/A N/A N/A
2015...... 11.417 10.578 298 N/A N/A N/A
2016...... 10.578 11.072 308 12.694 13.182 2
----------- ------ ------ --- ------ ------ ---
LVIP SSGA International Index
2010...... 7.977 8.641 4 N/A N/A N/A
2011...... 8.641 7.504 4 N/A N/A N/A
2012...... 7.504 8.784 6 N/A N/A N/A
2013...... 8.784 10.533 14 N/A N/A N/A
2014...... 10.533 9.828 19 14.652 13.526 1*
2015...... 9.828 9.622 42 13.526 13.248 1*
2016...... 9.622 9.630 56 13.248 13.266 10
----------- ------ ------ --- ------ ------ ---
LVIP SSGA International Managed Volatility
2014...... 10.096 9.259 11 10.157 9.264 1*
2015...... 9.259 8.854 49 9.264 8.863 1*
2016...... 8.854 8.462 196 8.863 8.475 7
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Large Cap 100
2010...... 10.018 11.099 5 N/A N/A N/A
2011...... 11.099 11.255 6 N/A N/A N/A
2012...... 11.255 12.518 6 N/A N/A N/A
2013...... 12.518 16.851 7 N/A N/A N/A
2014...... 16.851 19.494 25 N/A N/A N/A
2015...... 19.494 18.417 39 20.284 18.352 1*
2016...... 18.417 22.181 53 18.352 22.114 1*
----------- ------ ------ --- ------ ------ ---

C-10
<PAGE>

LVIP SSGA Large Cap Managed Volatility
2013...... N/A N/A N/A N/A N/A N/A
2014...... 10.791 11.466 1* 10.774 11.510 23
2015...... N/A N/A N/A 11.510 10.792 22
2016...... N/A N/A N/A 10.792 11.543 24
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderate Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderate Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 12.238 12.790 8
2014...... N/A N/A N/A 12.790 13.347 12
2015...... N/A N/A N/A 13.347 12.838 14
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderately Aggressive Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 11.366 11.632 3
2013...... N/A N/A N/A 11.632 13.202 3
2014...... N/A N/A N/A 13.202 13.574 3
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A 12.601 13.954 14
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderately Aggressive Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP SSGA S&P 500 Index
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 10.282 10.804 3 9.677 10.140 4
2013...... 10.804 14.070 2 10.140 13.233 4
2014...... 14.070 15.746 2 13.233 14.838 5
2015...... 15.746 15.716 2 14.838 14.840 5
2016...... 15.716 17.329 2 14.840 16.395 4
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Small-Cap Index
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 9.641 10.073 1*
2013...... N/A N/A N/A 10.073 13.733 12
2014...... N/A N/A N/A 13.733 14.210 2
2015...... N/A N/A N/A 14.210 13.385 1*
2016...... N/A N/A N/A 13.385 15.969 7
---------- ------ ------ --- ------ ------ ---
LVIP SSGA Small-Mid Cap 200
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 16.051 19.855 1*
2014...... N/A N/A N/A 19.855 20.472 2
2015...... N/A N/A N/A 20.472 18.853 2
2016...... N/A N/A N/A 18.853 24.245 5
---------- ------ ------ --- ------ ------ ---

LVIP SSGA Large Cap Managed Volatility
2013...... 10.170 10.950 8 N/A N/A N/A
2014...... 10.950 11.557 56 N/A N/A N/A
2015...... 11.557 10.863 50 N/A N/A N/A
2016...... 10.863 11.648 57 10.887 11.670 1*
----------- ------ ------ -- ------ ------ ---
LVIP SSGA Moderate Index Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.695 10.575 16 N/A N/A N/A
2012...... N/A N/A N/A 10.816 11.721 5
2013...... 12.386 13.048 5 11.721 13.070 6
2014...... 13.048 13.502 27 13.070 13.531 6
2015...... 13.502 13.184 36 13.531 13.220 6
2016...... 13.184 13.934 32 13.220 13.979 8
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderate Structured Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.597 10.533 40 N/A N/A N/A
2012...... 10.533 11.539 42 N/A N/A N/A
2013...... 11.539 12.900 51 12.387 12.922 2
2014...... 12.900 13.495 60 12.922 13.525 6
2015...... 13.495 13.013 78 13.525 13.048 6
2016...... 13.013 14.093 65 13.048 14.138 6
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderately Aggressive Index
Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.833 10.463 1* N/A N/A N/A
2012...... 10.463 11.703 8 N/A N/A N/A
2013...... 11.703 13.315 9 N/A N/A N/A
2014...... 13.315 13.725 53 N/A N/A N/A
2015...... 13.725 13.325 14 N/A N/A N/A
2016...... 13.325 14.180 9 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Moderately Aggressive Structured
Allocation
2010...... N/A N/A N/A N/A N/A N/A
2011...... 10.893 10.607 32 N/A N/A N/A
2012...... 10.607 11.709 42 N/A N/A N/A
2013...... 11.709 13.364 98 N/A N/A N/A
2014...... 13.364 13.944 105 N/A N/A N/A
2015...... 13.944 13.338 113 N/A N/A N/A
2016...... 13.338 14.603 38 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP SSGA S&P 500 Index
2010...... 7.954 8.900 6 N/A N/A N/A
2011...... 8.900 8.984 12 N/A N/A N/A
2012...... 8.984 10.296 15 N/A N/A N/A
2013...... 10.296 13.470 25 N/A N/A N/A
2014...... 13.470 15.142 25 17.696 18.954 3
2015...... 15.142 15.182 100 18.954 19.013 3
2016...... 15.182 16.815 145 19.013 21.069 10
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Small-Cap Index
2010...... 7.926 9.403 2 N/A N/A N/A
2011...... 9.403 8.894 3 N/A N/A N/A
2012...... 8.894 10.215 4 N/A N/A N/A
2013...... 10.215 13.962 9 15.926 16.726 1*
2014...... 13.962 14.483 22 16.726 17.356 1*
2015...... 14.483 13.677 38 17.356 16.398 1*
2016...... 13.677 16.357 52 16.398 19.621 5
----------- ------ ------ --- ------ ------ ---
LVIP SSGA Small-Mid Cap 200
2010...... 11.946 13.815 1* N/A N/A N/A
2011...... 13.815 13.388 1* N/A N/A N/A
2012...... 13.388 15.103 2 N/A N/A N/A
2013...... 15.103 20.130 2 N/A N/A N/A
2014...... 20.130 20.809 13 N/A N/A N/A
2015...... 20.809 19.211 22 N/A N/A N/A
2016...... 19.211 24.767 31 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---

C-11
<PAGE>

LVIP SSGA SMID Cap Managed Volatility
2013...... N/A N/A N/A N/A N/A N/A
2014...... 10.617 10.884 1* 11.125 10.920 4
2015...... N/A N/A N/A 10.920 9.858 3
2016...... N/A N/A N/A 9.858 11.245 7
---------- ------ ------ --- ------ ------ ---
LVIP T. Rowe Price Growth Stock
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A 9.352 9.093 1*
2012...... N/A N/A N/A 9.093 10.635 2
2013...... N/A N/A N/A 10.635 14.619 9
2014...... N/A N/A N/A 14.619 15.711 14
2015...... N/A N/A N/A 15.711 17.197 14
2016...... N/A N/A N/A 17.197 17.238 8
---------- ------ ------ --- ------ ------ ---
LVIP T. Rowe Price Structured Mid-Cap Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 15.410 16.877 1*
2014...... N/A N/A N/A 16.877 18.617 9
2015...... N/A N/A N/A 18.617 18.791 2
2016...... N/A N/A N/A 18.791 19.980 3
---------- ------ ------ --- ------ ------ ---
LVIP U.S. Growth Allocation Managed Risk
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ --- ------ ------ ---
LVIP Vanguard Domestic Equity ETF
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 11.866 13.796 2
2014...... N/A N/A N/A 13.796 15.303 2
2015...... N/A N/A N/A 15.303 15.082 4
2016...... N/A N/A N/A 15.082 16.719 3
---------- ------ ------ --- ------ ------ ---
LVIP Vanguard International Equity ETF
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 11.213 11.213 2
2014...... N/A N/A N/A 11.213 10.570 3
2015...... N/A N/A N/A 10.570 10.142 3
2016...... N/A N/A N/A 10.142 10.398 3
---------- ------ ------ --- ------ ------ ---
LVIP VIP Mid Cap Managed Volatility(7)
2014...... N/A N/A N/A 9.676 10.174 1*
2015...... N/A N/A N/A 10.174 9.600 2
2016...... N/A N/A N/A 9.600 10.451 1*
---------- ------ ------ --- ------ ------ ---
LVIP Wellington Capital Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 10.368 10.304 2
2013...... N/A N/A N/A 10.304 13.854 1*
2014...... N/A N/A N/A 13.854 15.253 9
2015...... N/A N/A N/A 15.253 16.500 1*
2016...... N/A N/A N/A 16.500 16.328 2
---------- ------ ------ --- ------ ------ ---
LVIP Wellington Mid-Cap Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 9.427 9.647 12
2013...... N/A N/A N/A 9.647 12.794 1*
2014...... N/A N/A N/A 12.794 13.696 1*
2015...... N/A N/A N/A 13.696 13.334 1*
2016...... N/A N/A N/A 13.334 14.904 1*
---------- ------ ------ --- ------ ------ ---

LVIP SSGA SMID Cap Managed Volatility
2013...... 10.385 11.219 14 N/A N/A N/A
2014...... 11.219 10.964 46 11.203 10.973 2
2015...... 10.964 9.923 49 10.973 9.936 2
2016...... 9.923 11.348 76 9.936 11.369 2
----------- ------ ------ -- ------ ------ ---
LVIP T. Rowe Price Growth Stock
2010...... N/A N/A N/A N/A N/A N/A
2011...... 9.437 9.199 13 N/A N/A N/A
2012...... 9.199 10.785 41 N/A N/A N/A
2013...... 10.785 14.863 55 N/A N/A N/A
2014...... 14.863 16.013 66 18.096 19.591 6
2015...... 16.013 17.572 98 19.591 21.508 6
2016...... 17.572 17.658 96 21.508 21.625 6
----------- ------ ------ --- ------ ------ ---
LVIP T. Rowe Price Structured Mid-Cap Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... 11.713 11.158 7 N/A N/A N/A
2012...... 11.158 12.861 9 N/A N/A N/A
2013...... 12.861 17.181 10 N/A N/A N/A
2014...... 17.181 18.999 13 N/A N/A N/A
2015...... 18.999 19.224 18 N/A N/A N/A
2016...... 19.224 20.492 15 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP U.S. Growth Allocation Managed Risk
2015...... 10.018 9.578 26 N/A N/A N/A
2016...... 9.578 9.879 67 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP Vanguard Domestic Equity ETF
2011...... 9.418 9.406 1* N/A N/A N/A
2012...... 9.406 10.735 7 N/A N/A N/A
2013...... 10.735 13.887 14 N/A N/A N/A
2014...... 13.887 15.443 267 N/A N/A N/A
2015...... 15.443 15.257 258 N/A N/A N/A
2016...... 15.257 16.956 232 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP Vanguard International Equity ETF
2011...... 8.040 8.392 4 N/A N/A N/A
2012...... 8.392 9.926 7 N/A N/A N/A
2013...... 9.926 11.287 13 N/A N/A N/A
2014...... 11.287 10.667 99 N/A N/A N/A
2015...... 10.667 10.260 106 N/A N/A N/A
2016...... 10.260 10.546 88 10.120 10.575 2
----------- ------ ------ --- ------ ------ ---
LVIP VIP Mid Cap Managed Volatility(7)
2014...... 9.524 10.190 1* 9.653 10.193 5
2015...... 10.190 9.639 18 10.193 9.647 5
2016...... 9.639 10.519 17 9.647 9.362 5
----------- ------ ------ --- ------ ------ ---
LVIP Wellington Capital Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... 9.778 10.450 1* N/A N/A N/A
2013...... 10.450 14.085 1* N/A N/A N/A
2014...... 14.085 15.546 2 N/A N/A N/A
2015...... 15.546 16.859 15 N/A N/A N/A
2016...... 16.859 16.725 16 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
LVIP Wellington Mid-Cap Value
2010...... N/A N/A N/A N/A N/A N/A
2011...... 8.850 7.953 8 N/A N/A N/A
2012...... 7.953 9.784 9 N/A N/A N/A
2013...... 9.784 13.007 6 N/A N/A N/A
2014...... 13.007 13.959 8 N/A N/A N/A
2015...... 13.959 13.625 5 N/A N/A N/A
2016...... 13.625 15.267 3 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---

C-12
<PAGE>

MFS (Reg. TM) VIT Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
2014...... N/A N/A N/A N/A N/A N/A
2015...... N/A N/A N/A N/A N/A N/A
2016...... N/A N/A N/A 16.580 17.660 2
---------- ------ ------ ------ ------ ---
MFS (Reg. TM) VIT Total Return(5)
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ ------ ------ ---
MFS (Reg. TM) VIT Total Return
2016...... N/A N/A N/A N/A N/A N/A
---------- ------ ------ ------ ------ ---
MFS (Reg. TM) VIT Utilities
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A 13.758 14.197 8
2013...... N/A N/A N/A 14.197 16.914 1*
2014...... N/A N/A N/A 16.914 18.852 1*
2015...... N/A N/A N/A 18.852 15.926 1*
2016...... N/A N/A N/A 15.926 17.557 1*
---------- ------ ------ ------ ------ ---
PIMCO VIT CommodityRealReturn Strategy
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A 12.820 12.475 1*
2014...... N/A N/A N/A 12.475 10.062 1*
2015...... N/A N/A N/A 10.062 7.412 1*
2016...... N/A N/A N/A 7.412 8.439 1*
---------- ------ ------ ------ ------ ---
Templeton Global Bond VIP
2014...... N/A N/A N/A N/A N/A N/A
2015...... 18.199 17.079 3 N/A N/A N/A
2016...... 17.079 17.389 13 N/A N/A N/A
---------- ------ ------ --- ------ ------ ---

MFS (Reg. TM) VIT Growth
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... 13.949 15.438 2 N/A N/A N/A
2014...... 15.438 16.670 4 N/A N/A N/A
2015...... 16.670 17.771 4 N/A N/A N/A
2016...... 17.771 18.040 9 19.031 20.804 1*
----------- ------ ------ --- ------ ------ ---
MFS (Reg. TM) VIT Total Return(5)
2010...... N/A N/A N/A N/A N/A N/A
2011...... N/A N/A N/A N/A N/A N/A
2012...... N/A N/A N/A N/A N/A N/A
2013...... N/A N/A N/A N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
MFS (Reg. TM) VIT Total Return
2016...... 15.355 15.525 1* N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
MFS (Reg. TM) VIT Utilities
2010...... N/A N/A N/A N/A N/A N/A
2011...... 12.112 12.817 1* N/A N/A N/A
2012...... 12.817 14.416 4 N/A N/A N/A
2013...... 14.416 17.218 3 N/A N/A N/A
2014...... 17.218 19.239 14 N/A N/A N/A
2015...... 19.239 16.294 10 N/A N/A N/A
2016...... 16.294 18.007 10 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
PIMCO VIT CommodityRealReturn Strategy
2010...... N/A N/A N/A N/A N/A N/A
2011...... 15.526 14.262 1* N/A N/A N/A
2012...... 14.262 14.895 8 N/A N/A N/A
2013...... 14.895 12.621 3 N/A N/A N/A
2014...... 12.621 10.204 17 N/A N/A N/A
2015...... 10.204 7.537 5 N/A N/A N/A
2016...... 7.537 8.601 7 N/A N/A N/A
----------- ------ ------ --- ------ ------ ---
Templeton Global Bond VIP
2014...... 18.729 18.371 6 18.636 18.446 3
2015...... 18.371 17.466 10 18.446 17.546 3
2016...... 17.466 17.863 24 17.546 17.954 4
----------- ------ ------ --- ------ ------ ---