Liquidation: SBL VARIABLE ANNUITY ACCOUNT XIV

Form Type: 497VPU

Filing Date: 2025-05-05

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525112652

Filing Summary: This Updating Summary Prospectus provides information about the EliteDesigns II Variable Annuity, issued by Security Benefit Life Insurance Company, which includes recent updates regarding changes in the availability of underlying funds. Specifically, several underlying funds have been liquidated and are no longer available, including DWS Capital Growth VIP and DWS International Growth VIP, among others. Additionally, several funds have undergone mergers, resulting in new names for these funds, such as Guggenheim VIF All Cap Value now being NAA All Cap Value Series. The document emphasizes the risks associated with the investment options and advises potential investors about fees, including those related to early withdrawals and advisory fees. Investors are reminded that the flexibility of the contract is crucial for planning retirement and financial goals, but they should also carefully consider the fees, risks, and possible tax implications associated with their investments.

Form Type: 497VPU

Filing Date: 2025-05-05

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525112656

Filing Summary: This Updating Summary Prospectus includes significant changes to the EliteDesigns Variable Annuity contract that have occurred since the last prospectus was issued on May 1, 2024. Key updates include the liquidation of several Underlying Funds which are no longer available under the Contract, such as DWS Capital Growth VIP and Guggenheim VIF Long Short Equity. In addition, numerous funds have undergone mergers resulting in changes to their names, e.g., Guggenheim VIF All Cap Value is now NAA All Cap Value Series. The document highlights the implications of these changes, particularly the potential impact on investment options available to contract holders and the relevant fees and expenses associated with the Contract. Advisory fees paid from the Contract Value can significantly reduce death benefits and may also have tax consequences. The prospectus also provides comprehensive details on withdrawal charges, ongoing fees, risks associated with investing in the Contract, and highlights the flexible purchase payment options available for retirement planning.

Form Type: 497VPU

Filing Date: 2025-05-05

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525112651

Filing Summary: This document is an Updating Summary Prospectus for the EliteDesigns Variable Annuity (2011) under SBL Variable Annuity Account XIV. It highlights updated information about the contract for existing investors and outlines changes made since the last prospectus. Notable changes include the liquidation of several underlying funds, such as DWS Capital Growth VIP and Guggenheim VIF Long Short Equity, which are no longer available for investment. Additionally, several funds have undergone mergers, resulting in name changes, such as Guggenheim VIF All Cap Value becoming NAA All Cap Value Series. The prospectus indicates that it’s essential for contract holders to review the updated investment options and potential risks involved with their contracted investments. The document also reinforces the importance of understanding fees, expenses, and tax implications associated with the variable annuity, instructing investors to consult financial professionals for personalized advice. Advisors may receive compensation for recommending this contract, which could influence their investment suggestions.

Form Type: 497VPU

Filing Date: 2025-04-30

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525104634

Filing Summary: The document is an Updating Summary Prospectus for the EliteDesigns II Variable Annuity, issued on May 1, 2025. It details important updates for existing investors regarding the availability of Underlying Funds associated with the variable annuity. Notably, several Underlying Funds have been liquidated and are no longer available, including: DWS Capital Growth VIP, DWS Core Equity VIP, DWS CROCI U.S. VIP, and others. Additionally, it discusses the impact of fund mergers where Guggenheim VIF funds have transitioned to new series names. The document emphasizes the customization of the contract and the implications of fees, including early withdrawal charges and ongoing expenses that may arise from investment choices made by contract holders. It advises investors about certain risks related to the contract and the investment options available, reinforcing that investment returns may vary and are not guaranteed, which brings potential risks such as loss of principal. The document serves to ensure investors have updated and necessary information to make informed decisions about their investments.

Form Type: 497VPU

Filing Date: 2025-04-30

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525104767

Filing Summary: This document updates the summary prospectus for the SecureDesigns Variable Annuity. It highlights significant changes in the availability of underlying funds associated with the contract. Several funds have been liquidated, including Guggenheim VIF Alpha Opportunity, Guggenheim VIF Long Short Equity, and Guggenheim VIF Managed Asset Allocation. Furthermore, as a result of various fund mergers, the names of several Guggenheim funds have changed to NAA designations. These changes affect the contract's investment options and should be considered by existing investors. The document also includes details on fees and expenses associated with early withdrawals and ongoing costs related to the contract's optional benefits. Investors are advised that the risk of loss is inherent to investing in this contract, highlighting the importance of understanding investment performance and potential taxes on withdrawals.