MEMBERS Horizon Variable Separate Account

Form Type: 497

Filing Date: 2025-01-06

Corporate Action: Liquidation

Type: New

Accession Number: 000175392625000027

Comments: This document is a supplement to the prospectus for the Members Horizon Variable Annuity, specifically updating regarding the liquidation of the Morgan Stanley Variable Insurance Fund Global Infrastructure Portfolio. As of December 6, 2024, this fund is no longer an investment option. All contract value in the Morgan Stanley Subaccount was automatically transferred to the Vanguard Variable Insurance Fund Money Market Portfolio. Any automatic transactions previously involving the Morgan Stanley Subaccount will now involve the Vanguard Money Market Subaccount. Contract holders can transfer from the Vanguard Money Market Subaccount to other Subaccounts without incurring transfer processing fees for 60 days after the liquidation date. The document warns that due to potential low interest rates, the Vanguard Money Market Subaccount may yield extremely low, or negative returns, and does not assure stable net asset value per share.

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Form Type: 497

Filing Date: 2025-01-06

Corporate Action: Liquidation

Type: Update

Accession Number: 000175392625000029

Comments: This supplement updates the prospectus for the Members Horizon Variable Annuity, indicating that as of December 6, 2024, the Morgan Stanley Variable Insurance Fund Global Infrastructure Portfolio is no longer an investment option. The remaining Contract Value in the Morgan Stanley Subaccount has been automatically transferred to the Goldman Sachs VIT Government Money Market Fund. When this transfer occurs, any automatic transactions involving the Morgan Stanley Subaccount are now directed to the Goldman Sachs Money Market Subaccount. Investors can transfer from this new subaccount to any other for 60 days without incurring transfer processing fees. There is a caution about low yields in the Goldman Sachs Money Market Subaccount during periods of low interest rates, with no assurance of a stable net asset value. Contact information for obtaining further details or copies of prospectuses is provided.

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