UPDATING SUMMARY PROSPECTUS FOR EXISTING INVESTORS
April 30, 2026
Personal Retirement Annuity
Issued by Empire Fidelity Investments Life Insurance Company®
(“EFILI”)
This Updating Summary Prospectus summarizes key features of the Personal Retirement Annuity (“PRA”), an individual, deferred, flexible premium variable annuity contract. This Updating Summary Prospectus also provides a summary of certain Contract features that have changed.
The prospectus for PRA contains more information about the Contract, including PRA’s features, benefits, and risks. You can find the current prospectus and other information about PRA online at www.dfinview.com/Fidelity/PUFT/PRA. You can also obtain this information at no cost by calling 1-800-634-9361 or by sending an email to filifunddocuments@fidelity.com.
Important Disclosures:
The Contract is a complex investment and involves risks, including risk of loss. It is not a short-term investment and is not suitable for an investor who needs ready access to cash. The taxable portion of a distribution will generally be taxed as ordinary income and may be subject to a penalty tax if received before age 591⁄2.
EFILI’s obligations and guarantees under the Contract are subject to EFILI’s financial strength and claims-paying ability.
Additional information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission’s staff and is available at Investor.gov.
1
| Glossary | 3 | |||
| Updated Information About Your Contract | 5 | |||
| Important Information You Should Consider About the Contract | 6 | |||
| Appendix A: Funds Available Under the Contract | 10 | |||
2
Accumulation Unit - A unit of interest in a Subaccount.
Accumulation Unit Value - The value of a particular Accumulation Unit at a particular time.
Annuitant or Annuitants - The person(s) designated by the Owner(s) to receive monthly annuity income payments.
Annuity Date - A date selected by the Owner(s) for annuity income payments to begin. This date can be as late as the first day of the calendar month following the oldest Owner’s 95th birthday. Once annuity income payments begin, Owners have no rights in the Contract.
Base Contract Expenses - also referred to as “Contract Charges” - Expenses that we assess daily at an annual effective rate against the assets of each Subaccount, comprised of a Mortality and Expense Risk Charge and an Administrative Charge.
Beneficiary or Beneficiaries - The person or persons who receive proceeds from the Contract if all the Owners die before the Annuity Date.
Contract - The annuity contract described in this prospectus.
Contract Anniversary - The same month and day as the Contract Date in each later year.
Contract Date - The date your Contract becomes effective. We show this date in your Contract.
Contract Value - The total amount attributable to a Contract at any time before annuity income payments begin.
Contract Year - A year that starts on the Contract Date or a Contract Anniversary and ends at the close of business on the day before the next Contract Anniversary.
Death Benefit - A benefit equal to the Contract Value that applies if any Owner (or Annuitant for a trust owned Contract) dies before the Annuity Date.
Exchanges - Transfers of values among the Subaccounts.
Free Look Period - The limited period of time after you purchase your Contract that you can cancel it and return it for a refund.
Funds - The mutual fund portfolios in which the Subaccounts invest.
Owner(s) - also “You” or “you” - The one or two persons who have the ownership rights and privileges under the Contract before the Annuity Date. In general, two people may purchase a Contract only if they are spouses.
Purchase Payment(s) - The amount(s) you invest in a Contract before any deduction for premium taxes. This term includes the Initial Purchase Payment in return for which we issue your Contract and any additional Purchase Payments you make later.
Subaccounts - The divisions of the Variable Account to which you may allocate Contract Value. Each Subaccount invests exclusively in the shares of one Fund.
3
Total Return - A measure of the investment performance for a Subaccount from one Valuation Period to the next.
Valuation Period - The period of time between one determination of the value of Accumulation Units to the next determination. We make determinations as of the close of business of the New York Stock Exchange (normally 4 p.m. Eastern Time) each day that the Exchange is open for trading.
Variable Account - Empire Fidelity Investments Variable Annuity Account A.
You or you - The one or two persons who own a Contract. Once the Contract is issued, the Owner(s) may not be changed, except that if a Contract has one Owner at the time of issue, that Owner may add a second Owner.
4
UPDATED INFORMATION ABOUT YOUR CONTRACT
| The information in this Updating Summary Prospectus is a summary of certain Contract features that have changed since the prospectus dated 4/30/2025. This may not reflect all of the changes that have occurred since you entered into your Contract. | ||
| Fund Performance and Expenses | For updated Fund performance and expense information, see Appendix A: Funds Available Under the Contract. | |
| Fund Name Changes | Effective April 30, 2026, Fidelity® VIP Investor Freedom Income Portfolio was renamed Fidelity® VIP Investor Freedom RetirementSM Portfolio. | |
| Fund Removal | Invesco V.I. Global Core Equity Fund has been removed from the Variable Account. | |
| Fund Addition | Invesco V.I. Global Fund has been added to the Variable Account. | |
5
IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT
|
FEES, EXPENSES, AND ADJUSTMENTS
|
Location in Prospectus | |||||||||||||||||
|
Are There Charges or Adjustments for Early Withdrawals? |
No |
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|
Are There Transaction Charges? |
Although we do not currently intend to charge for Exchanges, we reserve the right to impose a charge if you make Exchanges on more than six days during a calendar year. The charge will be not more than $15 for each additional day on which you make an Exchange. | Fee Tables | ||||||||||||||||
| Are There Ongoing Fees and Expenses? |
Yes, the table below describes the fees and expenses that you may pay each year , depending on the investment options you choose. The Annual Charges do not reflect any advisory fees that may be paid by you to a
third-party investment advisory firm from your Contract. If such advisory fees were reflected, the fees and expenses disclosed below would be higher. Please refer to your Contract Schedule page for information about the specific fees you will pay
each year based on the options you have elected.
|
Fee Tables
8. Current Charges and Other Deductions
Appendix A: Funds Available Under the Contract | ||||||||||||||||
| Annual Fee | Minimum | Maximum | ||||||||||||||||
| Base Contract Expenses |
0.25%1,2 |
0.25%1,2 |
||||||||||||||||
| Subaccounts (Fund fees and expenses) |
0.09%3 |
3.38%3 |
||||||||||||||||
| 1 As a percentage of the average Contract Value. 2 You will be assessed Base Contract Expenses of 0.10% (hereafter referred to as “lower Contract Charges”) if (1) you purchase a Contract on or after September 7, 2010 with an Initial Purchase Payment of $1,000,000 or more, or (2) your Contract Value equals $1,000,000 or more on or after September 7, 2010 and at that time we are offering the Contract to new applicants at the lower Contract Charges. 3 As a percentage of the net assets of each Subaccount.
|
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6
|
FEES, EXPENSES, AND ADJUSTMENTS
|
Location in Prospectus | |||||||||||||||||
| Because your Contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay
each year , based on current charges.
|
||||||||||||||||||
| Lowest Annual Cost $327 |
Highest Annual Cost $2,986 |
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| Assumes
• Investment of $100,000 • 5% annual appreciation • 0.25% Base Contract Expenses • Least expensive combination of Fund fees and expenses • No advisory fees paid to third-party investment advisory firms • No additional Purchase Payments, transfers or withdrawals |
Assumes
• Investment of $100,000 • 5% annual appreciation • 0.25% Base Contract Expenses • Most expensive combination of Fund fees and expenses • No advisory fees paid to third-party investment advisory firms • No additional Purchase Payments, transfers or withdrawals |
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|
RISKS
|
Location in Prospectus | |||||||||||||||||
| Is There a Risk of Loss from Poor Performance? |
Yes, an investor can lose money by investing in the Contract. | 1. Principal Risks of Investing in the Contract
2(a). EFILI and the Variable Account
2(b). The Funds | ||||||||||||||||
| Is This a Short-Term Investment? |
No, the Contract is not suitable as a short-term investment and is not appropriate for an investor who needs ready access to cash. This is because the benefits of tax deferral are more advantageous to investors with a long-time horizon. Investors with a short time horizon may not benefit. Furthermore, the taxable portion of a distribution will generally be taxed as ordinary income and may be subject to a penalty tax if received before age 591⁄2. | 1. Principal Risks of Investing in the Contract | ||||||||||||||||
| What Are the Risks Associated with the Investment Options? |
• An investment in the Contract is subject to the risk of poor performance of the Subaccount(s).
• Performance will vary based on the performance of the Subaccount(s) you select.
• Each Subaccount will have its own unique risks.
• You should review each Fund’s prospectus carefully before making an investment decision. |
1. Principal Risks of Investing in the Contract
2(a). EFILI and the Variable Account
2(b). The Funds | ||||||||||||||||
7
|
RISKS
|
Location in Prospectus | |||||||||||||||||
| What Are the Risks
Related |
The Contract is issued by and subject to the risks related to Empire Fidelity Investments Life Insurance Company (“EFILI, “we”, or “us”). The obligations, guarantees, and benefits of the Contract are subject to EFILI’s claims-paying ability. EFILI has an A+ Financial Strength Rating from AM Best as of March 5, 2026. | 1. Principal Risks of Investing in the Contract
2(a). EFILI and the Variable Account | ||||||||||||||||
|
RESTRICTIONS
|
Location in Prospectus | |||||||||||||||||
| Are There Restrictions on the Investment Options? |
Yes, the following restrictions may apply:
• During all or part of the Free Look Period, we reserve the right to invest your Purchase Payments in the Government Money Market Subaccount.
• You cannot exchange less than $250 from any Subaccount except that if you have less than $250 in a Subaccount you may exchange the entire amount.
• Contract Owners who engage in frequent Exchanges may be subjected to temporary or permanent restrictions on future purchase transactions or Exchanges.
• We have the right to eliminate Subaccounts, to combine two or more Subaccounts, or to substitute a new mutual fund for the mutual fund in which a Subaccount invests. |
3(a). Purchase of a Contract
5(a). General Procedures for Making Exchanges
5(f). EFILI Policies Regarding Frequent Trading
11(a). Changes in Subaccounts | ||||||||||||||||
| Are There Any Restrictions on Contract Benefits? |
Yes, there are:
• We will not pay any Beneficiary their portion of the Death Benefit until we have determined the number of Beneficiaries entitled to receive payment and received all required forms in good order.
• We reserve the right to modify or terminate certain benefits available under the Contract. |
4. Benefits Available Under the Contract | ||||||||||||||||
|
TAXES
|
Location in Prospectus | |||||||||||||||||
| What Are the
Contract’s |
• The Contracts are not offered in connection with Individual Retirement Accounts (“IRAs”) or qualified plans of any kind.
• Consult with a tax professional to determine the tax implications of an investment in and payments received under this Contract.
• Under current law, you will not be taxed on increases in the value of your Contract until a distribution occurs. The taxable portion of a distribution will generally be taxed as ordinary income. A penalty tax equal to 10% of the amount treated as taxable income may be imposed on distributions received before age 591⁄2. |
1. Principal Risks of Investing in the Contract
3(a). Purchase of a Contract
9. Tax Considerations | ||||||||||||||||
8
|
CONFLICTS OF INTEREST
|
Location in Prospectus | |||||||||||||||||
| How Are Investment Professionals Compensated? |
Your investment professional may receive compensation for selling this Contract to you in the form of commissions. This financial incentive may influence your investment professional to recommend this Contract over another investment. | 2(b). The Funds
2(c). Selling the Contracts | ||||||||||||||||
| Should I Exchange My Contract? |
Your investment professional may have a financial incentive to offer you a new contract in place of the one you own. You should only exchange your contract if you determine, after comparing the features, fees, and risks of both contracts, and any fees or penalties to terminate the existing contract, that it is better for you to purchase the new contract rather than continue to own your existing contract. | “Replacement of Contracts” under 3(a). Purchase of a Contract | ||||||||||||||||
9
APPENDIX A: FUNDS AVAILABLE UNDER THE CONTRACT
The following is a list of Funds available under the Contract. More information about the Funds is available in the prospectuses for the Funds, which may be amended from time to time and can be found online at www.dfinview.com/Fidelity/PUFT/PRA. You can also request this information at no cost by calling 1-800-634-9361 or by sending an email request to filifunddocuments@fidelity.com.
The current expenses and performance information below reflects fees and expenses of the Funds, but do not reflect the other fees and expenses that your Contract may charge or any advisory fees that you may pay to a third-party investment advisory firm from the Contract. Expenses would be higher and performance would be lower if these other charges were included. Each Fund’s past performance is not necessarily an indication of future performance.
| Investment Objective | Fund & Adviser/Subadviser | Current Expenses |
Average Annual Total Returns (as of 12/31/25) | |||||||
| 1 year | 5 year | 10 year | ||||||||
| Seeks high total investment return | BlackRock Global Allocation V.I. Fund
Adviser: BlackRock Advisors, LLC
Subadviser: BlackRock (Singapore) Limited and BlackRock International Limited |
0.91%* | 19.53% | 5.62% | 7.42% | |||||
| Seeks to obtain high total return with reduced risk over the long-term by allocating its assets among stocks, bonds, and short-term instruments |
Fidelity® Variable Insurance Product (“VIP”) Asset Manager 50% Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.59%* | 14.90% | 5.59% | 7.05% | |||||
| Seeks to maximize total return by allocating its assets among stocks, bonds, short-term instruments, and other investments | Fidelity® VIP Asset Manager 70% Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.69%* | 18.17% | 7.55% | 8.78% | |||||
| Seeks income and capital growth consistent with reasonable risk | Fidelity® VIP Balanced Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.49% | 15.16% | 9.43% | 11.04% | |||||
| Seeks to provide investment results that correspond to the aggregate price and interest performance of the debt securities in the Bloomberg Barclays U.S. Aggregate Bond Index | Fidelity® VIP Bond Index Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.14% | 6.98% | -0.57% | — | |||||
| Seeks capital appreciation | Fidelity® VIP Communication Services Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.68% | 34.29% | 15.11% | 15.71% | |||||
10
| Investment Objective | Fund & Adviser/Subadviser | Current Expenses |
Average Annual Total Returns (as of 12/31/25) | |||||||
| 1 year | 5 year | 10 year | ||||||||
| Seeks capital appreciation | Fidelity® VIP Consumer Discretionary Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.69% | 6.73% | 8.02% | 12.42% | |||||
| Seeks capital appreciation | Fidelity® VIP Consumer Staples Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.69% | -3.04% | 3.62% | 5.79% | |||||
| Seeks long-term capital appreciation | Fidelity® VIP Contrafund® Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.61% | 21.43% | 15.28% | 15.69% | |||||
| Seeks capital appreciation | Fidelity® VIP Disciplined Small Cap Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.40% | 17.28% | 10.29% | 10.51% | |||||
| Seeks capital appreciation | Fidelity® VIP Dynamic Capital Appreciation Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.81% | 18.72% | 13.58% | 14.78% | |||||
| Seeks capital appreciation | Fidelity® VIP Emerging Markets Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.94% | 41.06% | 5.79% | 10.84% | |||||
| Seeks capital appreciation | Fidelity® VIP Energy Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.68% | 10.49% | 24.08% | 7.87% | |||||
| Seeks reasonable income while also considering the potential for capital appreciation. The fund’s goal is to achieve a yield which exceeds the composite yield on the securities comprising the S&P 500® Index | Fidelity® VIP Equity-Income Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.53% | 18.94% | 12.44% | 11.51% | |||||
| Seeks to provide investment results that correspond to the total return of stocks of mid- to small-capitalization U.S. companies |
Fidelity® VIP Extended Market Index Portfolio
Adviser: Fidelity Management & Research Company LLC
Principal Subadviser: Geode Capital Management, LLC |
0.12% | 12.32% | 8.02% | — | |||||
11
| Investment Objective | Fund & Adviser/Subadviser | Current Expenses |
Average Annual Total Returns (as of 12/31/25) | |||||||
| 1 year | 5 year | 10 year | ||||||||
| Seeks capital appreciation | Fidelity® VIP Financials Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.68% | 15.08% | 16.38% | 13.31% | |||||
| Seeks a high level of current income | Fidelity® VIP Floating Rate High Income Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.76% | 5.23% | 6.00% | 5.40% | |||||
| Seeks high current income and, as a secondary objective, capital appreciation | Fidelity® VIP FundsManager® 20% Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.47%* | 9.14% | 3.14% | 4.23% | |||||
| Seeks high current income and, as a secondary objective, capital appreciation | Fidelity® VIP FundsManager® 30% Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.54%* | 10.86% | — | — | |||||
| Seeks current income as well as total return. The fund also considers the potential for capital appreciation | Fidelity® VIP FundsManager® 40% Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.57%* | 12.40% | — | — | |||||
| Seeks high total return | Fidelity® VIP FundsManager® 50% Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.59%* | 14.13% | 5.78% | 7.24% | |||||
| Seeks high total return | Fidelity® VIP FundsManager® 60% Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.63%* | 15.71% | 6.67% | 8.19% | |||||
| Seeks high total return | Fidelity® VIP FundsManager® 70% Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.65%* | 17.12% | 7.74% | 9.12% | |||||
| Seeks high total return | Fidelity® VIP FundsManager® 85% Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.68%* | 19.46% | 9.10% | 10.51% | |||||
| Seeks as high a level of current income as is consistent with preservation of capital and liquidity | Fidelity® VIP Government Money Market Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.28% | 4.10% | 3.08% | 2.01% | |||||
12
| Investment Objective | Fund & Adviser/Subadviser | Current Expenses |
Average Annual Total Returns (as of 12/31/25) | |||||||
| 1 year | 5 year | 10 year | ||||||||
| Seeks to achieve capital appreciation |
Fidelity® VIP Growth Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.62% | 14.84% | 13.62% | 17.36% | |||||
| Seeks high total return through a combination of current income and capital appreciation | Fidelity® VIP Growth & Income Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.55% | 21.39% | 16.02% | 13.75% | |||||
| Seeks to provide capital growth |
Fidelity® VIP Growth Opportunities Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.64% | 21.93% | 11.23% | 19.85% | |||||
| Seeks capital appreciation | Fidelity® VIP Health Care Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.67% | 14.27% | 4.10% | 8.66% | |||||
| Seeks capital appreciation | Fidelity® VIP Hedged Equity Portfolio
Adviser: Fidelity Diversifying Solutions LLC |
0.56%* | — | — | — | |||||
| Seeks a high level of current income, while also considering growth of capital | Fidelity® VIP High Income Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.85%* | 10.45% | 4.24% | 5.57% | |||||
| Seeks investment results that correspond to the total return of common stocks publicly traded in the United States, as represented by the S&P 500® Index | Fidelity® VIP Index 500 Portfolio
Adviser: Fidelity Management & Research Company LLC
Principal Subadviser: Geode Capital Management, LLC |
0.09% | 17.78% | 14.31% | 14.70% | |||||
| Seeks capital appreciation | Fidelity® VIP Industrials Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.68% | 24.42% | 14.70% | 12.89% | |||||
| Seeks capital appreciation | Fidelity® VIP International Capital Appreciation Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.85% | 18.56% | 6.16% | 9.72% | |||||
| Seeks to provide investment results that correspond to the total return of foreign developed and emerging stock markets | Fidelity® VIP International Index Portfolio
Adviser: Fidelity Management & Research Company LLC
Principal Subadviser: Geode Capital Management, LLC |
0.16% | 33.15% | 8.02% | — | |||||
13
| Investment Objective | Fund & Adviser/Subadviser | Current Expenses |
Average Annual Total Returns (as of 12/31/25) | |||||||
| 1 year | 5 year | 10 year | ||||||||
| Seeks as high a level of current income as is consistent with the preservation of capital |
Fidelity® VIP Investment Grade Bond Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.41% | 7.22% | 0.02% | 2.68% | |||||
| Seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond |
Fidelity® VIP Investor FreedomSM 2010 Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.42% | 10.57% | 3.11% | 5.68% | |||||
| Seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond | Fidelity® VIP Investor FreedomSM 2015 Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.45% | 11.87% | 3.95% | 6.55% | |||||
| Seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond |
Fidelity® VIP Investor FreedomSM 2020 Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.49% | 13.29% | 4.79% | 7.33% | |||||
| Seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond |
Fidelity® VIP Investor FreedomSM 2025 Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.51% | 14.44% | 5.46% | 7.95% | |||||
| Seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond |
Fidelity® VIP Investor FreedomSM 2030 Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.54% | 15.37% | 6.18% | 8.81% | |||||
| Seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond |
Fidelity® VIP Investor FreedomSM 2035 Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.58% | 16.61% | — | — | |||||
| Seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond |
Fidelity® VIP Investor FreedomSM 2040 Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.63% | 18.69% | — | — | |||||
| Seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond |
Fidelity® VIP Investor FreedomSM 2045 Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.67% | 19.69% | — | — | |||||
14
| Investment Objective | Fund & Adviser/Subadviser | Current Expenses |
Average Annual Total Returns (as of 12/31/25) | |||||||
| 1 year | 5 year | 10 year | ||||||||
| Seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond |
Fidelity® VIP Investor FreedomSM 2050 Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.67% | 19.73% | — | — | |||||
| Seeks high total return with a secondary objective of principal preservation |
Fidelity® VIP Investor Freedom RetirementSM Portfolio†
Adviser: Fidelity Management & Research Company LLC |
0.39% | 9.63% | 2.31% | 4.40% | |||||
| Seeks capital appreciation | Fidelity® VIP Materials Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.76% | 11.24% | 6.98% | 7.59% | |||||
| Seeks long-term growth of capital | Fidelity® VIP Mid Cap Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.63% | 11.68% | 10.02% | 10.50% | |||||
| Seeks long-term growth of capital | Fidelity® VIP Overseas Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.80% | 20.32% | 6.54% | 7.85% | |||||
| Seeks above average income and long-term capital growth, consistent with reasonable investment risk. The fund seeks to provide a yield that exceeds the composite yield of the S&P 500® Index | Fidelity® VIP Real Estate Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.68% | 3.06% | 4.15% | 3.79% | |||||
| Seeks a high level of current income. The fund may also seek capital appreciation | Fidelity® VIP Strategic Income Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.67% | 8.82% | 3.02% | 4.62% | |||||
| Seeks capital appreciation |
Fidelity® VIP Technology Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.64% | 23.28% | 16.75% | 23.67% | |||||
| Seeks to provide investment results that correspond to the total return of a broad range of U.S. stocks | Fidelity® VIP Total Market Index Portfolio
Adviser: Fidelity Management & Research Company LLC
Principal Subadviser: Geode Capital Management, LLC |
0.11% | 17.11% | 13.14% | — | |||||
15
| Investment Objective | Fund & Adviser/Subadviser | Current Expenses |
Average Annual Total Returns (as of 12/31/25) | |||||||
| 1 year | 5 year | 10 year | ||||||||
| Seeks capital appreciation | Fidelity® VIP Utilities Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.68% | 14.03% | 12.43% | 12.42% | |||||
| Seeks capital appreciation | Fidelity® VIP Value Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.68% | 11.16% | 13.02% | 11.15% | |||||
| Seeks capital appreciation | Fidelity® VIP Value Strategies Portfolio
Adviser: Fidelity Management & Research Company LLC |
0.66% | 7.89% | 12.06% | 10.74% | |||||
| Seeks income | Franklin U.S. Government Securities VIP Fund
Adviser: Franklin Advisers, Inc. |
0.79% | 6.69% | 0.02% | 1.14% | |||||
| Seeks capital appreciation | Invesco V.I. Global Fund
Adviser: Invesco Advisers, Inc. |
0.81% | 15.32% | 7.28% | 11.00% | |||||
| Seeks long-term capital appreciation | Lazard Retirement Emerging Markets Equity Portfolio
Adviser: Lazard Asset Management LLC |
1.13%* | 42.12% | 11.04% | 9.63% | |||||
| Seeks high total return by investing primarily in fixed income securities of government and government-related issuers and, to a lesser extent, of corporate issuers in emerging market countries | Morgan Stanley Variable Insurance Fund, Inc. (“Morgan Stanley”) Emerging Markets Debt Portfolio
Adviser: Morgan Stanley Investment Management Inc. |
1.10%* | 15.33% | 2.70% | 4.51% | |||||
| Seeks long-term capital appreciation by investing primarily in growth-oriented equity securities of issuers in emerging market countries | Morgan Stanley Emerging Markets Equity Portfolio
Adviser: Morgan Stanley Investment Management Inc. |
1.25%* | 32.96% | 4.37% | 7.27% | |||||
| Seeks total return | Morgan Stanley Global Strategist Portfolio
Adviser: Morgan Stanley Investment Management Inc. |
0.90%* | 17.40% | 5.31% | 6.85% | |||||
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| Investment Objective | Fund & Adviser/Subadviser | Current Expenses |
Average Annual Total Returns (as of 12/31/25) | |||||||
| 1 year | 5 year | 10 year | ||||||||
| Seeks maximum real return, consistent with prudent investment management | PIMCO Variable Insurance Trust (“VIT”) CommodityRealReturn® Strategy Portfolio
Adviser: Pacific Investment Management Company LLC |
3.19%* | 18.79% | 10.55% | 6.54% | |||||
| Seeks maximum total return, consistent with preservation of capital and prudent investment management | PIMCO VIT Low Duration Portfolio
Adviser: Pacific Investment Management Company LLC |
0.66% | 5.52% | 1.57% | 1.79% | |||||
| Seeks maximum real return, consistent with preservation of real capital and prudent investment management | PIMCO VIT Real Return Portfolio
Adviser: Pacific Investment Management Company LLC |
1.39% | 7.85% | 1.21% | 3.21% | |||||
| Seeks maximum total return, consistent with preservation of capital and prudent investment management | PIMCO VIT Total Return Portfolio
Adviser: Pacific Investment Management Company LLC |
0.73% | 8.89% | 0.02% | 2.36% | |||||
| Seeks high current income, consistent with preservation of capital, with capital appreciation as a secondary consideration | Templeton Global Bond VIP Fund
Adviser: Franklin Advisers, Inc. |
0.75%* | 15.73% | -0.96% | -0.15% | |||||
Each Fidelity Subaccount invests in Investor Class shares of each Fund except for the VIP Index 500 Portfolio, VIP Bond Index Portfolio, VIP Extended Market Index Portfolio, VIP International Index Portfolio and VIP Total Market Index Portfolio which invest in Initial Class shares of each Fund.
| * | This Fund’s current expenses reflect temporary fee reductions. See the Fund’s prospectus for additional information. |
| † | Prior to April 30, 2026, the fund was named Fidelity® VIP Investor Freedom Income Portfolio. |
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This Summary Prospectus incorporates by reference the prospectus and the Statement of Additional Information (SAI), both dated April 30, 2026, as amended or supplemented. The SAI may be obtained, free of charge, in the same manner as the prospectus.
Edgar Contract Identifier: C000024026
PRA-USP-0426
1.9919750.101