Lincoln Investor Advantage
®
LINCOLN VARIABLE ANNUITIES
Not a deposit
Not FDIC-insured May go down in value
Not insured by any federal government agency
Not guaranteed by any bank or savings association
Insurance products issued by:
The Lincoln National Life Insurance Company
Lincoln Life & Annuity Company of New York
1404374
Investment Guide
Lincoln Investor Advantage® investments powered by excellence
Fixed Income
Core Bonds
U.S. Large Growth
Core Bonds
American Funds Growth FundSM
0.85%
ClearBridge Variable Aggressive Growth Portfolio
1.05%
American Funds Mortgage FundSM
0.95%
Delaware VIP® U.S. Growth Series
0.99%
LVIP American Preservation Fund
0.88%
Fidelity VIP Growth Portfolio
0.90%
LVIP Delaware Bond Fund
0.70%
LVIP Delaware Social Awareness Fund
0.77%
LVIP Dimensional/Vanguard Total Bond Fund
0.65%
LVIP T. Rowe Price Growth Stock Fund
1.01%
LVIP SSGA Bond Index Fund
0.58%
LVIP Wellington Capital Growth Fund
0.99%
Putnam VT Income Fund
0.80%
MFS® VIT Growth Series
1.02%
Transparent Value Directional Allocation VI Portfolio
1.63%
TIPS
LVIP BlackRock Inflation Protected Bond Fund
0.72%
Short-Term Bonds
®
U.S. Large Value
Delaware VIP® Value Series
0.96%
Lord Abbett Series Fund Short Duration Portfolio
0.80%
Franklin Mutual Shares VIP Fund
1.08%
LVIP PIMCO Low Duration Bond Fund
0.82%
Invesco V.I. Comstock Fund
1.03%
International/Global Bonds
Invesco V.I. Diversified Dividend Fund
0.98%
LVIP Global Income Fund
0.89%
LVIP MFS Value Fund
0.90%
PIMCO VIT Emerging Markets Bond Portfolio
1.10%
LVIP SSGA Large Cap 100 Fund
0.59%
Templeton Global Bond VIP Fund
0.86%
U.S. Mid Cap
High Yield Bonds
AB VPS Small/Mid Cap Value Portfolio
Ivy Funds VIP High Income Portfolio
0.91%
ClearBridge Variable Mid Cap Core Portfolio
1.10%
LVIP JPMorgan High Yield Fund
0.92%
Delaware VIP® Smid Cap Growth Series
1.08%
Specialty/Multisector Bonds
Fidelity® VIP Mid Cap Portfolio
0.88%
Multisector Bonds
Franklin Small-Mid Cap Growth VIP Fund
1.15%
Delaware VIP Diversified Income Series
0.92%
Ivy Funds VIP Mid Cap Growth Portfolio
1.15%
Fidelity® VIP Strategic Income Portfolio
0.93%
JPMorgan Insurance Trust Intrepid Mid Cap Portfolio
1.17%
Goldman Sachs VIT Strategic Income Fund
1.27%
LVIP Baron Growth Opportunities Fund
1.26%
Lord Abbett Series Fund Bond Debenture Portfolio
0.90%
LVIP T. Rowe Price Structured Mid-Cap Growth Fund
1.01%
PIMCO VIT Unconstrained Bond Portfolio
1.15%
LVIP Wellington Mid-Cap Value Fund
1.19%
Virtus Multi-Sector Fixed Income Series
0.94%
U.S. Small Cap
®
Floating Rate Bonds
Delaware VIP® Small Cap Value Series
1.05%
Eaton Vance VT Floating-Rate Income Fund
1.16%
Franklin Small Cap Value VIP Fund
0.98%
LVIP Delaware Diversified Floating Rate Fund
0.87%
Ivy Funds VIP Micro Cap Growth Portfolio
1.32%
Lord Abbett Series Fund Developing Growth Portfolio
0.90%
LVIP SSGA Small-Cap Index Fund
0.62%
Money Market
Goldman Sachs VIT Money Market Fund
0.48%
Equities
U.S. Large Blend
LVIP SSGA Small-Mid Cap 200 Fund
0.66%
Oppenheimer Main Street Small Cap Fund /VA
®
1.05%
ALPS/Stadion Tactical Growth Portfolio
1.55%
International Equity
American Funds Blue Chip Income and Growth FundSM
0.92%
American Funds International FundSM
1.04%
American Funds Growth-Income FundSM
0.79%
Invesco V.I. International Growth Fund
1.27%
Fidelity VIP Contrafund Portfolio
0.88%
LVIP Dimensional International Core Equity Fund
0.90%
Franklin Rising Dividends VIP Fund
0.97%
LVIP MFS International Growth Fund
1.04%
Hartford Capital Appreciation HLS Fund
1.16%
LVIP Mondrian International Value Fund
0.98%
Invesco V.I. Equally-Weighted S&P 500 Fund
0.84%
LVIP SSGA Developed International 150 Fund
0.63%
LVIP Dimensional U.S. Core Equity 1 Fund
0.73%
LVIP SSGA International Index Fund
0.66%
LVIP Dimensional U.S. Core Equity 2 Fund
0.72%
LVIP Vanguard International Equity ETF Fund
0.70%
LVIP SSGA S&P 500 Index Fund
0.46%
MFS® VIT International Value Series
1.20%
LVIP Vanguard Domestic Equity ETF Fund
0.60%
Oppenheimer International Growth Fund/VA
1.25%
Templeton Foreign VIP Fund
1.12%
®
®
* These fees include investment expenses such as short sales dividend and interest expenses.
2
1.07%
Global Equity
Real Estate
American Funds Global Growth FundSM
1.05%
Delaware VIP® REIT Series
1.09%
1.24%
LVIP Clarion Global Real Estate Fund
0.98%
American Funds New World Fund®
1.28%
Asset Allocation
Traditional Asset Allocation
Delaware VIP® Emerging Markets Series
1.63%
American Funds Asset Allocation FundSM
0.80%
LVIP SSGA Emerging Markets 100 Fund
0.69%
American Funds Capital Income Builder®
1.03%
American Funds Global Small Capitalization Fund
SM
Emerging Markets
Equity — Volatility Managed
BlackRock Global Allocation V.I. Fund
0.98%
LVIP BlackRock Equity Dividend Managed Volatility Fund
0.97%
First Trust/Dow Jones Dividend & Income Allocation Portfolio
1.20%
LVIP Dimensional International Equity Managed Volatility Fund
1.03%
First Trust Dorsey Wright Tactical Core Portfolio
1.30%
LVIP Dimensional U.S. Equity Managed Volatility Fund
0.83%
Franklin Founding Funds Allocation VIP Fund
1.11%
LVIP JPMorgan Select Mid Cap Value Managed Volatility Fund
1.07%
Franklin Income VIP Fund
0.82%
LVIP Multi-Manager Global Equity Managed Volatility Fund
1.21%
Invesco V.I. Equity and Income Fund
0.92%
LVIP Franklin Templeton Global Equity Managed Volatility Fund
1.01%
JPMorgan Insurance Trust Income Builder Portfolio
0.93%
LVIP American Balanced Allocation Fund
0.98%
LVIP American Growth Allocation Fund
1.00%
Alternatives
Alternative Strategies
BlackRock iShares Alternative Strategies V.I. Fund
1.41%
LVIP Goldman Sachs Income Builder Fund
1.00%
Deutsche Alternative Asset Allocation VIP Portfolio
1.88%
LVIP SSGA Conservative Structured Allocation Fund
0.76%
Guggenheim VT Long Short Equity Fund
2.15%
LVIP SSGA Moderate Structured Allocation Fund
0.75%
Guggenheim VT Multi-Hedge Strategies Fund
2.53%
LVIP SSGA Moderately Aggressive Structured Allocation Fund
0.77%
Putnam VT Absolute Return 500 Fund
1.16%
Multiasset
®
Alternative Assets & Sector Funds
ALPS/Stadion Tactical Defensive Portfolio
1.58%
Alternative Assets - Infrastructure
First Trust Multi-Income Allocation Portfolio
1.20%
ALPS/Alerian Energy Infrastructure Portfolio
1.30%
Ivy Funds VIP Asset Strategy Portfolio
0.98%
UIF Global Infrastructure Portfolio
1.12%
JPMorgan Insurance Trust Global Allocation Portfolio
1.24%
LVIP AQR Enhanced Global Strategies Fund
1.10%
LVIP BlackRock Multi-Asset Income Fund
1.00%
LVIP Franklin Templeton Multi-Asset Opportunities Fund
1.21%
PIMCO VIT All Asset All Authority Portfolio
2.11%
SEI VP Market Growth Strategy Fund
1.65%
SEI VP Market Plus Strategy Fund
1.71%
Alternative Assets - Commodities
PIMCO VIT CommodityRealReturn Strategy Portfolio
®
1.03%
Alternative Assets - Hard Assets
Van Eck VIP Global Hard Assets Fund
1.32%
Alternative Assets - Private Equity
ALPS/Red Rocks Listed Private Equity Portfolio
2.15%
Asset Allocation - Volatility/Risk Management
Sector
Ivy Funds VIP Energy Portfolio
1.18%
Invesco V.I. Balanced-Risk Allocation Fund
1.05%
Ivy Funds VIP Science and Technology Portfolio
1.15%
LVIP Global Growth Allocation Managed Risk Fund
0.91%
MFS® VIT Utilities Series
1.04%
LVIP Global Moderate Allocation Managed Risk Fund
0.94%
Putnam VT Global Health Care Fund
1.01%
LVIP SSGA Global Tactical Allocation Managed Volatility Fund
0.88%
Virtus Equity Trend Series
1.62%
A variable annuity is a long-term investment product that offers tax-deferred growth, access to leading investment managers,
and a lifetime income stream. To decide if a variable annuity is right for you, consider that its value will fluctuate; it is subject to
investment risk and possible loss of principal; and there are costs associated such as mortality and expenses, administrative and
advisory fees. All guarantees, including those for optional features, are subject to the claims-paying ability of the issuer.
Limitations and conditions apply.
3
P American Growth Allocation Fund
■ Equities
■ Equities
■ Fixed income
■ Fixed income
■ Alternatives
Asset allocation funds
nvesco V.I.
and
Fund
Invesco
V.I. Equity
Equity
and Income
Income
Fund Advantage®
Lincoln
Investor
funds
oldman Sachsallocation
Income Builder
Fund
60%-65%
60%-65%
73%
73%
15%–20%
15%–20% 10%–20%
10%–20%
7%
7% 20%
20%
lineup includes more than 20 asset allocation funds from leading investment managers. Asset
■
■ Equities
Equities
■
■ Fixed
Fixed income
income
■
■ Equities
Equities
■
■ Convertibles
Convertibles
■
■ Fixed
Fixed income
income
■
■ Other
Other
50%
50% different asset classes all in one fund
70% helping to spread out the
30%risk
give you the ability
to invest across several
■ Equities asset class
■ Fixedsuch
incomeas stocks. This one-step approach■to
Equities
■ Fixed income
associated with investing in an individual
portfolio diversification offers
broad exposure across traditional asset classes such as equities, bonds, cash and alternative asset classes, such as commodities,
merican Fundsreal
Assetestate
Allocationand
Fundcurrencies.
Neither40-80%
asset allocation nor diversification
can
loss.
20%–40%against
40%–60%
20%-50%
7%ensure a profit or protect
■60%
Equities
60%
American
Balanced
Allocation
Fund
American
Balanced Allocation
Allocation Fund
Fund
ervative Structured
40%
Traditional Asset Allocation
■ Equities
■ Equities
Equities
■
■ Fixed income
40%
40%
60%
■
Fixed
income
■ Fixed
Fixed income
income
■
■ Cash
10%–40%
■60%
Equities
80%-90%
80%-90%
■ Fixed income 40% ■ Alternatives
00–10%0
–10%0–10%
–10%
■
Equities
■
■ Equities
Equities
■
■ Fixed
Fixed income
income
■60%
Equities
■ Fixed income 25% ■ Alternatives
15%
Alternatives
■■
income
■Fixed
Alternatives
These funds tend to emphasize traditional asset classes like stocks, bonds and cash. While some of the funds will vary the asset allocation over
time,
they generally
take a strategic approach
to how the funds' assets
are allocated,
creating an asset mix
for a long-term
investment horizon.10%–40%
merican Funds Asset
Allocation
Fund
20%–40%
40%–60%
40-80%
20%-50%
7%
Name
Asset
breakdown■ Fixed38%
■49%
Equities
income
Franklin Income VIP Fund
LVIP
American
Moderate Structured
Allocation
Fund Growth
PP American
Allocation
Fund
American Growth
Growth
Allocation
Allocation Fund
Fund
LVIP
SSGA Fund
Moderately
VIP Founding Funds
Allocation
gressive Structured Allocation Fund
Aggressive Structured
Allocation
Fund
oldman Sachs
Goldman
Sachs Income
Income Builder
Builder Fund
Fund
VIP Founding Funds Allocation Fund
ackRock Global Allocation V.I. Fund
Invesco V.I. Equity
nvesco V.I. Equity and Income Fund
Allocation
servative
and
IncomeFund
Fund
servative Structured
Structured
Allocation
Fund
dend & Income Allocation Portfolio
nvesco V.I. Equity and Income Fund
LVIP SSGA Moderate
Moderate
Allocation
Moderate Structured
Structured
Allocation Fund
Fund
Structured
Allocation Fund
American Balanced Allocation Fund
LVIP
American Balanced
gressive Structured
Allocation
ggressive
Allocation Fund
Fund
AmericanStructured
Balanced Allocation
Fund
Allocation Fund
P American Growth Allocation Fund
BlackRock Global
Allocation V.I. Fund
P American Growth Allocation Fund
merican
Allocation
Fund
American
oldman Funds
Sachs Asset
Income
Builder Funds
Fund
Asset Allocation Fund
SM
servative Structured Allocation Fund
Franklin Income VIP Fund
4
38%
13%
■ Equities
33%
70%
■ Fixed income
33%
■ Convertibles
33%
30%
■ Templeton
■ Equities
Franklin Income ■
■
■ FranklinMutual
Fixed income
50%
50%
VIP Fund
Shares VIP
Fund Growth Fund
50%
50%
■
■ Equities
Equities
■
■ Fixed
Fixed income
income
33%
60%
■ Franklin Income
VIP Fund
■ Equities
60%-65%
40%
40%
■ Equities
■
■ Equities
Equities
33%
33%
40%
■
Templeton
■ FranklinMutual
VIP Fund Growth Fund
■ Shares
Fixed income
15%–20% 10%–20%
60%
60%
■ Fixed income
■ Convertibles
■
■ Fixed
Fixed income
income
40%–60%
60%-65%
■ Equities
■60%
Equities
60%
40%–60%
15%–20% 10%–20%
■ Fixed income
■ Fixed income 40%
40% ■ Convertibles
■
Equities
■60%
Equities
■
■ Fixed
Fixed income
income 40%
■ Equities
■ Fixed income
70%
70%
60%
30%
40% 30%
■
■ Equities
Equities
■
Equities
70%
■
■ Fixed
Fixed income
income
■
Fixed
income
■ Equities
■ Fixed income
60%
60%
ackRock Global
lackRock
Global Allocation
Allocation V.I.
V.I. Fund
Fund
oldman Sachs Income Builder Fund
■ Fixed income 40% ■ Convertibles
30%
30%
■ Fixed income
■
Fixed
income
■ Fixed income
49%
Franklin Income VIP Fund
idend
idend && Income
Income Allocation
Allocation Portfolio
Portfolio
■60%
Equities
70%
70%
■ Equities
■
■ Equities
Equities
■
Cash
13%
■ Equities
50%
40-80%
■ Equities
■
Equities
40%–60%
40%–60%
■ Fixed income
50%
■ Fixed income
■ Fixed40%–60%
income
40%–60%
■
■ Equities
Equities
■
■ Fixed
Fixed income
income
50%
■40%
Equities
49%
■ Equities
■ Equities
30%
25%
20%-50%
■ Equities
■ Fixed income
■ Alternatives
■ Equities
■ Fixed income
■ Other
A strategy that73%
focuses on reaping the rewards 7% 20%
60%
40%
60%
40%
of market upswings
while minimizing risk through
■
Equities
■
Fixed
income
■ Other
■
■ Equities
Equities
■ Fixed
Fixed income
income
comprehensive
diversification of stocks, bonds ■
and convertible bonds with the potential for
positive change.
73%
7% 20%
Seeks a balance
between a high
level
of current
■60%
Equities
■ Fixed
income
■ Other
40%
40%
60%
income and growth of capital, through investment
■
Equities
■
income
0 –10%0
–10%
■80%-90%
Equities
■ Fixed
Fixed
income
into a combination
of passive index funds,
■ Equities
Fixedrules-based
income
■ Alternatives
exchange-traded
funds (ETFs)■and
investment strategies.
40%
60%
0 –10%0 –10%
■23%
Equities
54% ■ Fixed income
■ 23%
Alternatives
■ Equities
■ Fixed income
■ Alternatives
7%
■ Cash
13%
■ Convertibles
■ Fixed income
23%
■ Alternatives
70%
30%
Seeks high total
return consistent
with preservation
20%–40%
40%–60%
10%–40%
of capital over
the
long
term.
The
Fund
varies
its
■ Equities
■ Fixed income
■ Equities
■ Fixed income
■ Alternatives
mix of equity securities, fixed income securities
and money market instruments.
70%
60%
■ Equities
60%
■ Equities
■ Equities
The allocations for all asset allocation funds are approximate targets, not actual allocations. Actual allocations are subject to change.
servative Structured Allocation Fund
15%
51%between a high level 19%
Seeks a balance
of current30%
income and growth
of capital■with
greater
■ Equities
Fixedaincome
■ Other
70%
30%
emphasis on growth
of capital through investment
70%
30%
into a combination
of passive index funds,
■
■
■ Equities
Equities
■ Fixed
Fixed income
income
exchange-traded funds (ETFs) and rules-based
51%
19%
30%
investment strategies.
■ Equities
50%
60%
■ Fixed
income
38%
■ Fixed income
■ Fixed income
60%
Seeks to provide equity-like returns with less risk
over a full market
cycle by54%
diversifying broadly
23%
across the world.
40%
40%
■
■ Fixed
Fixed income
income
■60%
Equities
■ Fixed
income
Alternatives
40% ■ 23%
23%
Seeks a balance
a high
level
of current
23%between54%
54%
23%
■
Equitiesof capital■with
Fixed income
income and growth
aincome
greater ■■
■
■ Equities
Equities
■ Fixed
Fixed income
■ Alternatives
Alternatives
emphasis on growth of capital.
Seeks a balance
between a high level of current
80%-90%
income and growth of capital.
30%
■
Equities
■70%
Equities
Description
60%
30%
40%
25%
■ Fixed income
40%
■ Fixed income
15%
■ Fixed income
■ Alternatives
IP American Growth Allocation Fund
ggressive Structured Allocation Fund
Name
American Balanced Allocation Fund
Goldman
BlackRock Global LVIP
Allocation
V.I. FundSachs
Goldman Sachs Income Builder Fund
Income Builder Fund
merican Funds Asset Allocation Fund
First
Trust/Dow
P American Growth
Allocation
Fund Jones Dividend
vidend & Income Allocation Portfolio
&
Income
Allocation
Portfolio
servative Structured Allocation Fund
Franklin Income VIP Fund
merican Funds
AssetIncome
Allocation
Fund
Franklin
VIP Fund
Goldman
Income
Builder Fund
ModerateSachs
Structured
Allocation
Fund
LVIP
SSGA
Conservative
Franklin
Income
VIP Fund
VIP Founding
Funds
Allocation
ggressive
Structured Allocation
Allocation Fund
Fund
servative Structured
Structured Allocation Fund
BlackRock Global Allocation
Fund Funds
Franklin V.I.
Founding
Moderate Structured Allocation Fund
VIP Founding Funds Allocation Fund
Allocation VIP Fund
Invesco V.I. Equity and Income Fund
vidend & Income
Allocation
Portfolio
ggressive
Structured
Allocation
Fund
Invesco V.I. EquityAmerican
and Income Funds
Fund Capital
American Balanced
Allocation
Fund
Income Builder® Fund
lackRock Global Allocation V.I. Fund
70%
70%
■ Equities
■ Equities
Asset
60%
JPMorgan Insurance Trust
Portfolio
vidend & Income Allocation
Income Portfolio
Builder
P American Growth Allocation Fund
Goldman Sachs Income Builder Fund
servative Structured Allocation Fund
Goldman Sachs Income Builder Fund
■ Equities
Description
40%
■60%
Equities
50%
■ Equities
■ Equities
■ Fixed income 40%
50%
■ Fixed income
■ Fixed income
40-80%
70%
■40%–60%
Equities
■40%
Equities
■ Equities
■ Equities
20%-50%
30%
40%–60%
■ Fixed income
60%
■ Fixed
income
■ Fixed income
■ Fixed income
7%
■ Cash
38%
13%
20%-50%
7%
50% 40% ■ Convertibles
■ Fixed income
■ Fixed income
■ Cash
■ Fixed income
49%
33%
70%
40%
■ Franklin
Equities
■
■ Equities Income
VIP Fund
38%
13%
33%
30%
60%
Fixed income ■ Templeton
■ Convertibles
■■
■FranklinMutual
Fixed income
Shares VIP Fund Growth Fund
60%
60%
33%
■ Equities
■60%-65%
Equities
■ Franklin Income
VIP Fund
■ Equities
40%
40%
33%
33%
■ Fixed income
■ Fixed income15%–20% 10%–20%
■ FranklinMutual ■ Templeton
Fund
VIP Fund Growth
■ Shares
Fixed income
■ Convertibles
33%
40%–60%
70%
■ Equities
Equities
■
60%-65%
Allocation
60%
■ Equities
■ Equities
40%–60% 30%
■ Fixed
Fixed income
income
■
15%–20%
will vary—minimum
50% 10%–20%
equities.
■ Fixed income
■ Fixed income
60%
■ Equities
70%
50%
■ Convertibles
40%
■ Fixed income
70%
60%
Allocation
■40%–60%
Equities
40%
40% 30%
will vary.
■ Fixed income
40%–60%
■ Fixed income
50%
■ Equities
■ Equities
■ Fixed income
■ Fixed income
40%
50%
■ Equities
■ Equities
60%
50%
■ Fixed income
■ Fixed income
54%
23%
■ Fixed income
■ Alternatives
80%-90%
0 –10%0 –10%
Equities appreciation
■ Fixedand
income
Seeks income,■ capital
lower
70%
volatility by accessing opportunities across
■ Equities
both stocks and
bonds in traditional and
nontraditional segments of the market.
49%
40-80%
■50%
Equities
60%
■ Equities
■ Equities
■ Equities
PAmerican
AmericanBalanced
Growth Allocation Fund
■ Fixed income
■ Fixed income
breakdown
23%
30%
30%
30%
20%–40%
23%
54%40%–60%
■ Alternatives
30%
■ Fixed income
10%–40%
23%
The Portfolio is constructed from a quantitative
■
Equities
■
income
■60%
Equities
■ Fixed
Fixed
income
■ Alternatives
Alternatives
40% ■
process that seeks
to provide total
return
through
investing generally
in
dividend
paying
stocks
■ Equities
■ Fixed income
and a diversified investment grade bond portfolio.
The Fund seeks capital appreciation through a
60%
25%
15%
20%–40% approach — investing
40%–60%
diversified, value-oriented
in 10%–40%
■70%
Equities
■ Fixed income 40% 30%
■ Alternatives
60%
a fixed allocation
of three Franklin
Templeton
■ Equities
■ Fixed
income mutual
■ Alternatives
■ Equitiestarget stocks and bonds trading
■ Fixed income
funds that specifically
at a discount to their true worth. The Fund seeks
income as a secondary goal.
51%
19% 25% 30% 15%
60%
Seeks a high level
60% of current income with some
40%
consideration■given
capital
Equitiesto growth■of
Fixed
incomethrough■ Alternatives
■ Other
■ Equities
■ Fixed income
investment into a combination of passive index
funds, exchange-traded funds (ETFs) and rulesbased investment strategies.
40%
60%
The Fund invests
three
Franklin
51%in equal allocations to19%
30%
Templeton VIP■73%
funds
that
invest
in
stocks
and
bonds
7%Fixed
20%
Equities
■
■ Equities
■ Fixed income
■income
Other
in the U.S. and abroad. The allocation is monitored
■ Equities
■ Fixed income
■ Other
and automatically rebalanced to maintain the equal
allocation. The Fund’s rebalancing feature helps
maintain equal exposure to three distinct investment
strategies in any market environment.
73%
7% 20%
The Fund has two primary investment objectives.
0 –10%0 –10%
80%-90%
Equities you with
■ Fixed
income
■ Other
It seeks (1) to■provide
a level
of current
■
Equities
■
Fixed
income
■
Alternatives
income that exceeds the average yield on U.S.
stocks generally, and (2) to provide you with a
growing stream of income over the years. The
Fund’s secondary objective is to provide you with
growth of capital.
23%
54%
23%
0 –10%0 –10%
80%-90%
Equities
■ Fixed income
■ Alternatives
Portfolio ■
has
significant
flexibility
to
invest
in
■ Equities
■ Fixed income
■ Alternatives
The
a broad range of income-producing securities with
no limit on the number of countries. The adviser
attempts to capture attractive opportunities and
has wide latitude to allocate the Portfolio’s assets
23% and asset
54%classes.
23%
among strategies
70%
■ Equities
■ Equities
60%
70%
■ Equities
■ Equities
30%
■ Alternatives
■ Fixed income
■ Fixed income
40%
30%
■ Fixed income
■ Fixed income
5
73%
15%–20% 10%–20%
■ Fixed income
■ Convertibles
Multiasset
SEI VP Market Plus Strategy Fund
7% 20%
■ Equities
■ Fixed income
■ Other
These funds combine traditional asset classes with alternative asset classes and/or employ a more tactical approach to allocating assets,
taking a more active approach to selecting asset classes that the manager feels can meet the fund objectives.
Name
Asset breakdown
LVIP AQR Enhanced
40%
Global Strategies Fund
■ Fixed income
Description
80%-90%
0 –10%0 –10%
■ Equities
■ Fixed income
■ Alternatives
SEI VP Market Plus Strategy Fund
0
SEI VP Market Plus
30%
Strategy Fund7%
20%-50%
■ Fixed income
■ Fixed income
38%
50%
■ Fixed income
■ Cash
LVIP Franklin
13%Templeton MultiAsset Opportunities Fund
■ Convertibles
60%
33%
33%
■ Fixed income
■ Templeton
VP Market
■ FranklinMutual SEI
Shares VIP Fund Growth Fund
Growth
60
■ Fixed income LVIP BlackRock Multi-Asset
20%-50%
7%
Income10%–20%
Fund
15%–20%
■ Fixed income
■ Cash
■ Fixed income
■ Convertibles
First30%
Trust Multi-Income
Allocation Portfolio
13%
■ Convertibles
40%
■ Fixed income 40%
80
100
23%
16%
20%
40%–60%
10%–40%
■ Fixed income
■ Alternatives
■ Fixed Income
■ Multiasset
■ Fixed income
■ Alternatives
25% 30%
■
■ Equities
Equities
■ Fixed income
15%
Alternatives
■■Fixed
income
40%
SEI60%
VP Market Plus Strategy Fund
51%
19%
30%
■ Equities
■ Fixed income
■ Equities
■ Fixed income
■ Other
44%
24%
32%
20
40
■ Equities
60
80
■ Fixed income
■ Multiasset
■ Equities
■ Fixed income
20%–40%
40%–60%
10%–40%
73%
7% 20%
■ Equities
■ Fixed income
■ Alternatives
■ Trust
Equities
Fixed income
■ Other
First
Multi-Income■Allocation
Portfolio
10%–20% 60%–80%
20%–40%
■ Equities
60%
■ Fixed income
■ Equities
80%-90%
■ Fixed income
■ Equities
■ Fixed income
25%
■ Alternatives
15%
■ Alternatives
0 –10%0 –10%
■ Alternatives
■ Fixed income
33%
33%
FranklinMutual ■ Templeton
30% Fund
Shares VIP Fund Growth
40%–60%
ALPS/Stadion Tactical
■ Fixed income Defensive Portfolio
■ Fixed income
JPMorgan Insurance Trust
15%–20%
Global 10%–20%
Allocation Portfolio
■ Fixed income
50%
■ Fixed income
6
■ Convertibles
51%
■ Equities
23%
19%
54%
■ Fixed income
Tactical allocation will vary.
■ Equities
■ Fixed income
30%
■ Other
23%
■ Alternatives
Tactical allocation will vary.
73%
■70%
Equities
■ Equities
7% 20%
■ Fixed income
30%
Invescomanaged
V.I. Balanced-Risk
Allocation
An actively
portfolio
of SEIFund
portfolios
LVIP BlackRock
Multi-Asset
that seeks
maximum
growth Income
over aFund
long-term
horizon by primarily holding portfolios that invest
in U.S. and foreign equity, and to a lesser extent
holds funds that invest in fixed income securities
of varying quality.
LVIP
Multi-Asset
Opportunities Fund
The Portfolio
is anTempleton
equity-focused,
LVIP Franklin
Managed
Risk Profile
Growth opportunistic
Fund
multiasset strategy with a broad array of potential
investments, including an exposure to alternatives.
Tactical and strategic asset allocation will be
an integral part of the portfolio. Seeks steady
and consistent growth over time with volatility
LVIP Managed Risk Profile Moderate Fund
significantly
less than
theStrategy
equityFund
market.
SEI VP Market
Growth
100
40%
60%
40%
■ Fixed income
40
54%
60%
70%
0
Strategy Fund
■ Fixed income
38%
20
23%
64%
■20%–40%
Equities
■ Equities
■ Equities
LVIPseeks
AQR Enhanced
Strategies Fundtotal return
This fund
to offerGlobal
an opportunistic
solution with a focus on a diversified, value and
momentum based equity allocation, as well as a
modest allocation to fixed income and alternative
strategies.
■ Other
■ Fixed income
An actively managed portfolio of SEI portfolios
that seeks growth while maintaining broad equity
and fixed income participation with a tilt toward
growthLVIP
assets.
SSgA Global Tactical Allocation RPM Fund
LVIP BlackRock
Multi-Asset
Income
Fund
A go-anywhere,
flexible
solution
that
seeks
SEI VP Market Plus Strategy Fund
to deliver
competitive income with a focus on
risk management.
This portfolio will follow both a strategic and
tactical asset allocation process by being fully
LVIP Franklin
Multi-Asset
Opportunities Fund
diversified
in bothTempleton
traditional
and nontraditional
income producing investments. A portfolio designed
LVIPduration
AQR Enhanced
Global generating
Strategies Fund
to lower
risk while
an attractive
yield and protecting principal. It contains nine
income generating asset classes including dividend
paying equities, preferred securities, MLPs, REITs,
high yield
bonds,
SEI VPbonds,
Marketsenior
Growth loans,
Strategycorporate
Fund
MBS and TIPS.
Invesco V.I. Balanced-Risk Allocation Fund
The Fund seeks to participate in expanding cyclical
markets while becoming defensive as conditions
deteriorate.
The Portfolio seeks to maximize long-term total
SEI VP Market Plus Strategy Fund
return. The adviser uses a flexible asset allocation
approach
constructing
the Growth
Portfolio,
LVIPinManaged
Risk Profile
Fundinvesting in a
broad range of equity, fixed income and alternative
asset classes in markets throughout the world.
15%–20% 10%–20%
Name 10%–20%
15%–20%
15%–20% 10%–20%
■ Fixed income
■ Convertibles
■ Fixed income
■ Convertibles
■ Fixed income Ivy Funds
■ Convertibles
VIP Asset
■ Fixed income
■ Fixed income
■ Fixed income
73%
7% 20%
7% 20%
7% 20%
■ Other
■ Other
■ Other
73% breakdown
Asset
73%
■ Equities
■ Fixed income
■ Equities
■ Fixed income
■
Equitiesallocation
■ Fixed
income
Tactical
will vary.
Strategy Portfolio
Putnam VT Absolute
40%
40%
40%
Return 500 Fund
Tactical
80%-90%allocation will vary.
80%-90%
80%-90%
■ Equities
■ Equities
■ Equities
0 –10%0 –10%
0 –10%0 –10%
0 –10%0 –10%
■ Fixed income
■ Fixed income
■ Fixed income
■ Alternatives
■ Alternatives
■ Alternatives
SEI VP Market Plus Strategy Fund
SEI VP Market Plus Strategy Fund
Description
SEI VP Market Plus Strategy Fund
Strives to identify growth themes in the U.S. and
global economies and then determine allocations
among stocks, bonds, cash, precious metals,
currency and derivatives.
LVIPseeks
AQR Enhanced
Strategies
The Fund
positiveGlobal
returns
aboveFund
inflation
LVIP AQR Enhanced
Global
Strategies
Fund
LVIP AQR Enhanced Global Strategies Fund
while employing strategies that may produce lower
volatility over time. It can invest across global
bonds, stocks, or alternative asset classes and can
adjust as opportunities change.
Invesco V.I. Balanced-Risk Allocation Fund
23%
Invesco V.I. Balanced-Risk Allocation Fund
23%
Invesco V.I. Balanced-Risk Allocation Fund
23%
54%
23%
30%
■ Equities
Fixedclasses,
income
■ Alternatives
range of ■
asset
utilize risk management strategies designed to
■ Fixed income In addition to diversifying among a■wide
Equities
■
Fixed income these■ funds
Alternatives
■ Fixed income reduce market risk and volatility. The
■ Equities
■ Fixed
income
Alternatives
risk management
strategies
are■not
guaranteed, may not perform as expected and shareholders
■ Fixed income
23%
54%
Asset
Management
30% Allocation — Volatility/Risk
23%
54%
30%
may experience loss.
Name
Asset breakdown
50%
50%
50%
■ Fixed income
■ Fixed income
■ Fixed income
LVIP Global Growth
Allocation Managed
Risk Fund
70%
70%
70%
■ Equities
■ Equities
■ Equities
60%
60%
60%
■ Fixed income
■ Fixed income
■ Fixed income
LVIP Global Moderate
Allocation Managed
Risk Fund
60%
60%
60%
■ Equities
■ Equities
■ Equities
40%
40%
40%
60%
60%
60%
■ Equities
■ Equities
■ Equities
40%
40%
40%
■ Fixed income
■ Fixed income
■ Fixed income
■ Fixed income
■ Fixed income
■ Fixed income
■ Fixed income
■ Fixed income
■ Fixed income
40%
LVIP
40%
40%
SSGA Global Tactical
Allocation Managed
Volatility Fund
30%
30%
30%
Invesco V.I. Balanced-Risk
Allocation Fund
40%
40%
40%
Allocation will vary.
Description
30%
30%
30%
■ Fixed income
■ Fixed income
■ Fixed income
■ Fixed income
■ Fixed income
■ Fixed income
Seeks aLVIP
balance
between
a Growth
high level
Managed
Risk Profile
Fundof current
LVIP Managed Risk Profile Growth Fund
Growth
incomeLVIP
andManaged
growthRisk
of Profile
capital
withFund
a greater
emphasis on growth of capital. This fund also
employs an actively managed risk-management
overlay (“protection substrategy”).
Managed Risk Profile Moderate Fund
LVIP
Managed
Risk Profile
Seeks aLVIP
balance
between
a Moderate
high levelFund
of current
LVIP Managed Risk Profile Moderate Fund
income and growth of capital with an emphasis on
growth of capital. This fund also employs an actively
managed risk-management overlay (“protection
substrategy”).
LVIP SSgA Global Tactical Allocation RPM Fund
■ Fixed income
■ Fixed income
■ Fixed income
LVIP SSgA Global
Tactical
RPM Fundbroad
Seeks long-term
growth
of Allocation
capital through
LVIP SSgA Global
Tactical
Allocation
RPM Fund
diversification and a disciplined investment process.
This volatility-managed fund utilizes tactical asset
allocation in an attempt to capitalize on short- and
long-term mispricings in the global equity and fixed
income markets.
Seeks attractive returns in a variety of economic
environments by using a risk-balanced approach
that seeks to weight each asset so that it
contributes a relatively equal amount of risk
to the portfolio.
40%–60%
40%–60%
40%–60%
■ Fixed income
■ Fixed income
■ Fixed income
7
Asset class guidance from Wilshire
Lincoln partnered with Wilshire Associates — a leader in investment advice — to create sample asset allocation strategies
using the Lincoln Investor Advantage® lineup. These strategies are intended to guide your investment selections across
both traditional and specialty asset classes. They are not actively managed asset allocation portfolios and the investor is in
control of selecting the investment options.
Risk-based asset allocation strategies
Designed to help you build a portfolio that balances your risk tolerance against your need for return.
40%
n Fixed income
60%
Conservative
70%
Moderate
90%
Maximum
growth
Growth
n Equities
60%
30%
10%
TIPS (core bonds)
4%
4%
3%
—
Short-term bonds
10%
5%
2%
—
Core bonds
37%
23%
18%
5%
High yield
5%
3%
2%
2%
International/global bonds
4%
5%
5%
3%
U.S. large growth
8%
10%
12%
14%
U.S. large value
10%
10%
11%
13%
U.S. mid cap
6%
10%
11%
13%
U.S. small cap
4%
5%
5%
6%
Foreign/global stock
9%
17%
20%
29%
Emerging markets
2%
5%
7%
9%
Real estate
1%
3%
4%
6%
100%
100%
100%
100%
Fixed income
60%
40%
30%
10%
U.S. equity
28%
35%
39%
46%
International equity
11%
22%
27%
38%
Real estate
1%
3%
4%
6%
Total
8
40%
Thematic-based asset allocation strategies
Designed to help you build a portfolio that aligns your investment strategy with your unique financial goals.
Rising rates
Income
Inflation protection
Defensive
Opportunistic
For investors
concerned about
eroding capital during
periods of rising rates
For investors looking
for current income
For investors looking
to protect against
inflation eroding
their purchasing power
For investors seeking
to reduce the risk
of drawdown by
adding alternative
asset classes as a
diversifier to their
equity holdings
For investors seeking
global growth from
funds whose managers
have the flexibility to
invest in the strongest
opportunities available
Asset class
Allocation
Core bonds
—
TIPS
—
Short-term bonds
12%
International/global bonds
—
High yield bonds
5%
Multisector bond
18%
Floating rate
15%
U.S. large growth
15%
U.S. large value
5%
U.S. mid cap
—
U.S. small cap
—
Hard assets
—
Infrastructure
8%
Commodities
7%
Multiasset
—
Multialternative strategies
5%
Real estate
—
Emerging markets
—
Foreign stock
10%
World stock InvestorAdvantage.com
—
Equity—volatility managed
—
Total
100%
10%
—
—
5%
15%
10%
—
—
20
—
—
—
10%
—
—
—
8%
—
15%
7%
—
100%
—
15%
—
—
—
20%
5%
6%
7%
—
—
5%
10%
8%
—
5%
7%
—
12%
—
—
100%
20%
—
—
—
—
15%
—
—
10%
—
—
—
5%
5%
20%
10%
—
—
—
5%
10%
100%
—
—
—
5%
—
10%
—
8%
7%
10%
5%
—
—
5%
10%
10%
—
5%
—
25%
—
100%
Fixed income
U.S. equity
Asset allocation/world stock
Foreign stock
Alternatives
40.0%
20.0%
7.0%
15.0%
18.0%
40.0%
13.0%
0.0%
12.0%
35.0%
35.0%
10.0%
35.0%
0.0%
20.0%
15.0%
30.0%
35.0%
5.0%
15.0%
50.0%
20.0%
0.0%
10.0%
20.0%
Put the expertise of Wilshire Associates to work for you
Founded in 1972, Wilshire Associates — creator of the Wilshire 5000 Total Market IndexSM — is a leader in providing portfolio
analytics, investment consulting, and asset management services to pension funds, endowments, foundations and financial
institutions. Through its Wilshire Funds Management division, Wilshire Associates serves as a consultant to Lincoln Investment
Advisors Corporation.
9
The Lincoln Investor Advantage® investment options lineup offers investment
options to build your portfolio — investment flexibility, portfolio diversification and
investor control. Our investment partners represent some of the industry’s most
respected managers, and our menu includes a diverse selection of traditional and
alternative investment options.
SM
10
Ask yourself...
Do you have significant assets held in taxable accounts?
Do you have large holdings in tax-inefficient assets?
Are you currently subject to high marginal income tax rates?
Tax-efficient investing is one component of helping
to protect your wealth
Ask your advisor how you can prepare for rising healthcare expenses, market risk, longevity
and inflation. Help protect your growing assets, your retirement income, and your legacy.
InvestorAdvantage.com
Consider these risks and restrictions before investing in any of these options:
A Fund of funds invests primarily in other funds rather than individual securities.
Funds of this nature may be more expensive than other investment options.
Investing internationally involves risks not associated with investing solely in the
United States, such as currency fluctuation, political risk, differences in accounting,
and the limited availability of information.
Funds that invest in small- and/or mid-size company stocks typically involve
greater risk, particularly in the short term, than those investing in larger, more
established companies.
An investment in a money market fund is not insured or guaranteed by
the FDIC or any other government agency. Although the Fund seeks to
preserve the value of your investment at $1.00 per share it is possible
to lose money by investing in the Fund.
Funds that concentrate investments in one region or industry may carry greater risk
than more broadly diversified funds.
The return of principal in bond portfolios is not guaranteed. Bond portfolios have the
same interest rate, inflation, credit, prepayment and market risks that are associated
with the underlying bonds owned by the fund (or account).
Neither asset allocation nor diversification can ensure a profit, nor protect against
loss in a declining market.
High yield portfolios may invest in high-yield or lower-rated fixed income securities
(junk bonds), which may experience higher volatility and increased risk of nonpayment
or default.
Alternative funds expect to invest in (or may invest in some) positions that emphasize
alternative investment strategies and/or non-traditional asset classes and, as a result,
are subject to the risk factors of those asset classes and/or investment strategies. Some
of those risks may include general economic risk, geopolitical risk, commodity-price
volatility, counterparty and settlement risk, currency risk, derivatives risk, emerging
markets risk, foreign securities risk, high yield bond exposure, index investing risk,
exchange traded notes risk, industry concentration risk, leveraging risk, real estate
investment risk, master limited partnership risk, master limited partnership tax risk,
energy infrastructure companies risk, sector risk, short sales risk, direct investments risk,
hard assets sectors risk, active trading and “overlay” risks, event driven investing risk,
global macro strategies risk, temporary defensive positions and large cash positions.
REITs involve risks such as refinancing, economic conditions in the real estate industry,
changes in property values, dependency on real estate management, and other
risks associated with a portfolio that concentrates its investments in one sector or
geographic region.
Floating rate funds should not be considered alternatives to CDs or money market
funds, and should not be considered as cash alternatives.
The value of an ETF may be more volatile than the underlying portfolio of securities
the ETF is designed to track. The costs of owning the ETF may exceed the cost of
investing directly in the underlying securities. Exchange-traded funds (ETFs) in this
lineup are available through collective trusts or mutual funds. Investors cannot invest
directly in an ETF.
Investments in the Funds 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,
the repayment of capital from the Series or Funds, or any particular rate of return.
An index is unmanaged, and one cannot invest directly in an index.
”Standard & Poor’s®”, “S&P®”, “S&P 500®”, “Standard & Poor’s 500” and “500”
are trademarks of Standard & Poor’s Financial Services LLC, a subsidiary of The
McGraw-Hill Companies, Inc. and have been licensed for use by Lincoln Variable
Insurance Products Trust and its affiliates. 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.
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.
Market cap: Large-cap companies (L) have a market capitalization ranging from greater
than $5 billion to greater than $9.1 billion, depending on fund manager investment
classifications. Mid-cap companies (M) have a market capitalization ranging from
between $1–$5 billion to between $1.3–$9.1 billion, depending on fund manager
investment classifications. Small-cap companies (S) have a market capitalization
ranging from less than $1 billion to less than $1.3 billion, depending on fund manager
investment classifications. Equity style: Value (V) focuses primarily on companies whose
stock is believed to be selling below its true worth. Blend (B) focuses on a blend of
both value and growth stocks. Growth (G) focuses primarily on companies whose stock
is believed to be fairly valued but is expected to continue growing.
Duration: Short-range maturity (S) is up to 3.5 years. Intermediate-range maturity (I) is
3.5 years to 6 years. Long-range maturity (L) is greater than 6 years.
Investing in emerging markets can be riskier than investing in well-established foreign
markets. International investing involves special risks not found in domestic investing,
including increased political, social, and economic instability.
11
Lincoln Investor Advantage for tax-efficient investing
InvestorAdvantage.com
Important information:
THE LVIP MANAGED RISK FUNDS AND LVIP MANAGED VOLATILITY FUNDS ARE NOT
GUARANTEED OR INSURED BY LINCOLN OR ANY OTHER INSURANCE COMPANY OR ENTITY,
AND SHAREHOLDERS MAY EXPERIENCE LOSSES. THE STRATEGIES USED BY THESE FUNDS ARE
SEPARATE AND DISTINCT FROM ANY ANNUITY OR INSURANCE CONTRACT RIDER OR FEATURES.
Lincoln Financial Group® affiliates, their distributors, and their respective employees,
representatives and/or insurance agents do not provide tax, accounting or legal advice. Please
consult an independent advisor as to any tax, accounting or legal statements made herein.
Not a deposit
Not FDIC-insured
Not insured by any federal
government agency
Not guaranteed by any
bank or savings association
May go down in value
Variable annuities are long-term investment products designed for retirement purposes and are subject
to market fluctuation, investment risk, and possible loss of principal. Variable annuities contain both investment
and insurance components and have fees and charges, including mortality and expense, administrative, and
advisory fees. Optional features are available for an additional charge. The annuity’s value fluctuates with the
market value of the underlying investment options, and all assets accumulate tax-deferred. Withdrawals of
earnings are taxable as ordinary income and, if taken prior to age 59½, may be subject to an additional 10%
federal tax. Withdrawals will reduce the death benefit and cash surrender value.
LincolnFinancial.com
Investors are advised to consider the investment objectives, risks, and charges
and expenses of the variable annuity and its underlying investment options
carefully before investing. The applicable prospectuses for the variable annuity
and its underlying investment options contain this and other important information.
Please call 888‑868‑2583 for free prospectuses. Read them carefully before investing
or sending money. Products and features are subject to state availability.
Lincoln Financial Group is the
marketing name for Lincoln National
Corporation and its affiliates.
Lincoln Investor Advantage ® variable annuities (contract forms 30070-A, 30070-B, and state variations) are issued by The Lincoln
National Life Insurance Company, Fort Wayne, IN, distributed by Lincoln Financial Distributors, Inc., a broker-dealer. The Lincoln
National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so.
Affiliates are separately
responsible for their own financial
and contractual obligations.
Contracts sold in New York (contract forms 30070-A-NY and 30070-B-NY) are issued by Lincoln Life & Annuity Company of New York,
Syracuse, NY, and distributed by Lincoln Financial Distributors, Inc., a broker-dealer.
©2016 Lincoln National Corporation
Lincoln Financial Group
150 N. Radnor-Chester Road
Radnor, PA 19087
LCN-1404374-012716
POD 3/16 Z06
Order code: VA-IAINV-BRC001
All contract and rider guarantees, including those for optional benefits, fixed subaccount crediting rates, or
annuity payout rates, are subject to the claims-paying ability of the issuing insurance company. They are not backed
by the broker-dealer or insurance agency from which this annuity is purchased, or any affiliates of those entities other than the
issuing company affiliates, and none makes any representations or guarantees regarding the claims-paying ability of the issuer.
There is no additional tax-deferral benefit for an annuity contract purchased in an IRA or other tax-qualified plan.
Lincoln Investment Advisors Corporation (LIAC) serves as the investment advisor to the LVIP Managed Risk
Profile Funds and LVIP RPM Funds. LIAC is the subsidiary of The Lincoln National Life Insurance Company
responsible for analyzing and reviewing the investment options within Lincoln variable products and providing
recommendations regarding these options to Lincoln senior management.