Virtus Variable Insurance Trust

0001193125-13-006447.txt : 20130108 0001193125-13-006447.hdr.sgml : 20130108 20130108115300 ACCESSION NUMBER: 0001193125-13-006447 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130108 DATE AS OF CHANGE: 20130108 EFFECTIVENESS DATE: 20130108 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VIRTUS VARIABLE INSURANCE TRUST CENTRAL INDEX KEY: 0000792359 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-05033 FILM NUMBER: 13517255 BUSINESS ADDRESS: STREET 1: 100 PEARL STREET CITY: HARTFORD STATE: CT ZIP: 06103 BUSINESS PHONE: 8002487971 MAIL ADDRESS: STREET 1: 100 PEARL STREET CITY: HARTFORD STATE: CT ZIP: 06103 FORMER COMPANY: FORMER CONFORMED NAME: PHOENIX EDGE SERIES FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: BIG EDGE SERIES FUND DATE OF NAME CHANGE: 19920304

0000792359 S000001949 VIRTUS SMALL-CAP GROWTH SERIES

C000005133 VIRTUS SMALL-CAP GROWTH SERIES

0000792359 S000001950 VIRTUS MULTI-SECTOR FIXED INCOME SERIES

C000005134 VIRTUS MULTI-SECTOR FIXED INCOME SERIES

0000792359 S000001958 VIRTUS SMALL-CAP VALUE SERIES

C000005142 VIRTUS SMALL-CAP VALUE SERIES

0000792359 S000001962 VIRTUS REAL ESTATE SECURITIES SERIES

C000005146 VIRTUS REAL ESTATE SECURITIES SERIES

0000792359 S000001963 VIRTUS CAPITAL GROWTH SERIES

C000005147 VIRTUS CAPITAL GROWTH SERIES

0000792359 S000001964 VIRTUS GROWTH & INCOME SERIES

C000005148 VIRTUS GROWTH & INCOME SERIES

0000792359 S000001966 VIRTUS STRATEGIC ALLOCATION SERIES

C000005150 VIRTUS STRATEGIC ALLOCATION SERIES

0000792359 S000002231 VIRTUS INTERNATIONAL SERIES

C000005730 VIRTUS INTERNATIONAL SERIES

497 1 d456935d497.htm VIRTUS VARIABLE INSURANCE TRUST Virtus Variable Insurance Trust

1933 Act/Rule 497(e)

January 8, 2013

VIA EDGAR

Securities and Exchange Commission

100 F Street, N.E.

Washington, DC 20549

RE:	Virtus Variable Insurance Trust

File Nos. 033-05033 and 811-04642

To The Commission Staff:

On behalf of Virtus Variable Insurance Trust (the “Trust” or “Registrant”), transmitted herewith for filing under Rule 497(e) under the Securities Act of 1933 and the Investment Company Act of 1940, are exhibits containing interactive data format risk/return summary information that mirrors the risk/return summary information in the prospectuses for Virtus Capital Growth Series, Virtus Growth & Income Series, Virtus International Series, Virtus Multi-Sector Fixed Income Series, Virtus Real Estate Securities Series, Virtus Small-Cap Growth Series, Virtus Small-Cap Value Series and Virtus Strategic Allocation Series (the “Funds”) as filed under Rule 497(e) on December 21, 2012. The purpose of this filing is to submit the 497(e) filing dated December 21, 2012 in XBRL for the Fund.

Please contact Ann Flood at (860) 263-4746 or the undersigned at (860) 263-4791 if you have any questions concerning this filing.


		Very truly yours,

		/s/ Kevin J. Carr
		Kevin J. Carr

cc: Ann Flood

EX-101.INS 2 vvit1-20121221.xml XBRL INSTANCE DOCUMENT 0000792359 2011-05-02 2012-05-01 0000792359 vvit1:S000001949Member vvit1:C000005133Member 2011-05-02 2012-05-01 0000792359 vvit1:S000001949Member 2011-05-02 2012-05-01 0000792359 vvit1:S000001950Member vvit1:C000005134Member 2011-05-02 2012-05-01 0000792359 vvit1:S000001950Member 2011-05-02 2012-05-01 0000792359 vvit1:S000001958Member vvit1:C000005142Member 2011-05-02 2012-05-01 0000792359 vvit1:S000001958Member 2011-05-02 2012-05-01 0000792359 vvit1:S000001962Member vvit1:C000005146Member 2011-05-02 2012-05-01 0000792359 vvit1:S000001962Member 2011-05-02 2012-05-01 0000792359 vvit1:S000001963Member vvit1:C000005147Member 2011-05-02 2012-05-01 0000792359 vvit1:S000001963Member 2011-05-02 2012-05-01 0000792359 vvit1:S000001964Member vvit1:C000005148Member 2011-05-02 2012-05-01 0000792359 vvit1:S000001964Member 2011-05-02 2012-05-01 0000792359 vvit1:S000001966Member vvit1:C000005150Member 2011-05-02 2012-05-01 0000792359 vvit1:S000001966Member 2011-05-02 2012-05-01 0000792359 vvit1:S000002231Member 2011-05-02 2012-05-01 0000792359 vvit1:S000002231Member vvit1:C000005730Member 2011-05-02 2012-05-01 pure 2012-05-01 Other VIRTUS VARIABLE INSURANCE TRUST 0000792359 2012-12-21 2012-12-21 false 2011-12-31 0.0085 0.0025 0.0023 0.0001 0.0134 -0.0028 0.0106 April 30, 2014 Restated to reflect current expenses as of May 1, 2012. Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment): 0.005 0.0025 0.0021 0.0096 -0.0021 0.0075 Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment): April 30, 2014 Restated to reflect current expenses as of May 1, 2012. 0.009 0.0025 0.002 0.0001 0.0136 -0.0005 0.0131 Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment): Restated to reflect current expenses as of May 1, 2012. April 30, 2014 0.0075 0.0025 0.0021 0.0121 -0.0011 0.011 Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment): April 30, 2014 Restated to reflect current expenses as of May 1, 2012. 0.007 0.0025 0.0019 0.0001 0.0115 -0.0019 0.0096 Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment): April 30, 2014 Restated to reflect current expenses as of May 1, 2012. 0.007 0.0025 0.002 0.0001 0.0116 -0.0025 0.0091 Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment): April 30, 2014 Restated to reflect current expenses as of May 1, 2012. 0.006 0.0025 0.0021 0.0106 -0.0021 0.0085 April 30, 2014 Restated to reflect current expenses as of May 1, 2012. Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment): Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment): 0.0073 0.0025 0.0021 0.0119 -0.0016 0.0103 April 30, 2014 Restated to reflect current expenses as of May 1, 2012. Virtus Variable Insurance Trust Supplement dated December 21, 2012 to the Summary Prospectuses and Statutory Prospectuses dated May 1, 2012 IMPORTANT NOTICE TO INVESTORS Effective November 5, 2012, the limits under the contractual expense limitation arrangements for certain of the series of Virtus Variable Insurance Trust have changed. Effective November 6, 2012, the following disclosure describes the current expense limitation arrangements for each affected Series. Virtus Capital Growth Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="90%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top">Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.70%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.19%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Acquired Fund Fees and Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.01%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.15%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.19%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.96%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 0.95%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.03%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table>Virtus Growth & Income Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="90%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top">Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.70%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.20%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Acquired Fund Fees and Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.01%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.16%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.25%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.91%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 0.90%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 0.98%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table>Virtus International Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="90%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top">Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.73%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.21%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.19%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.16%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.03%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 1.03%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.23%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table>Virtus Multi-Sector Fixed Income Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="90%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top">Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.50%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.21%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.96%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.21%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.75%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 0.75%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 0.94%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table>Virtus Real Estate Securities Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="90%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top">Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.75%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.21%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.21%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.11%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.10%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 1.10%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.16%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table>Virtus Small-Cap Growth Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="92%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top"> Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.85%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.23%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Acquired Fund Fees and Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.01%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.34%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.28%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.06%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 1.05%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.19%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table>Virtus Small-Cap Value Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="92%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top">Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.90%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.20%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Acquired Fund Fees and Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.01%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.36%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.05%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.31%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 1.30%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.20%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table> Virtus Strategic Allocation Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="92%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top">Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.60%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.21%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.06%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.21%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.85%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 0.85%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 0.98%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table> Virtus Variable Insurance Trust Supplement dated December 21, 2012 to the Summary Prospectuses and Statutory Prospectuses dated May 1, 2012 IMPORTANT NOTICE TO INVESTORS Effective November 5, 2012, the limits under the contractual expense limitation arrangements for certain of the series of Virtus Variable Insurance Trust have changed. Effective November 6, 2012, the following disclosure describes the current expense limitation arrangements for each affected Series. Virtus Strategic Allocation Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="92%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top">Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.60%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.21%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.06%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.21%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.85%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 0.85%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 0.98%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table> Virtus Variable Insurance Trust Supplement dated December 21, 2012 to the Summary Prospectuses and Statutory Prospectuses dated May 1, 2012 IMPORTANT NOTICE TO INVESTORS Effective November 5, 2012, the limits under the contractual expense limitation arrangements for certain of the series of Virtus Variable Insurance Trust have changed. Effective November 6, 2012, the following disclosure describes the current expense limitation arrangements for each affected Series. Virtus International Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="90%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top">Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.73%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.21%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.19%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.16%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.03%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 1.03%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.23%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table> Virtus Variable Insurance Trust Supplement dated December 21, 2012 to the Summary Prospectuses and Statutory Prospectuses dated May 1, 2012 IMPORTANT NOTICE TO INVESTORS Effective November 5, 2012, the limits under the contractual expense limitation arrangements for certain of the series of Virtus Variable Insurance Trust have changed. Effective November 6, 2012, the following disclosure describes the current expense limitation arrangements for each affected Series. Virtus Capital Growth Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="90%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top"> Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.70%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top"> Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.19%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Acquired Fund Fees and Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.01%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top"> Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.15%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.19%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.96%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 0.95%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.03%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table> Virtus Variable Insurance Trust Supplement dated December 21, 2012 to the Summary Prospectuses and Statutory Prospectuses dated May 1, 2012 IMPORTANT NOTICE TO INVESTORS Effective November 5, 2012, the limits under the contractual expense limitation arrangements for certain of the series of Virtus Variable Insurance Trust have changed. Effective November 6, 2012, the following disclosure describes the current expense limitation arrangements for each affected Series. Virtus Growth & Income Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="90%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top">Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.70%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.20%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Acquired Fund Fees and Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.01%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.16%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.25%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.91%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 0.90%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 0.98%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table> Virtus Variable Insurance Trust Supplement dated December 21, 2012 to the Summary Prospectuses and Statutory Prospectuses dated May 1, 2012 IMPORTANT NOTICE TO INVESTORS Effective November 5, 2012, the limits under the contractual expense limitation arrangements for certain of the series of Virtus Variable Insurance Trust have changed. Effective November 6, 2012, the following disclosure describes the current expense limitation arrangements for each affected Series. Virtus Multi-Sector Fixed Income Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="90%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top">Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.50%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.21%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.96%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.21%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.75%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 0.75%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 0.94%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table> Virtus Variable Insurance Trust Supplement dated December 21, 2012 to the Summary Prospectuses and Statutory Prospectuses dated May 1, 2012 IMPORTANT NOTICE TO INVESTORS Effective November 5, 2012, the limits under the contractual expense limitation arrangements for certain of the series of Virtus Variable Insurance Trust have changed. Effective November 6, 2012, the following disclosure describes the current expense limitation arrangements for each affected Series. Virtus Real Estate Securities Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="90%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top">Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.75%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.21%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.21%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.11%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.10%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 1.10%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.16%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table> Virtus Variable Insurance Trust Supplement dated December 21, 2012 to the Summary Prospectuses and Statutory Prospectuses dated May 1, 2012 IMPORTANT NOTICE TO INVESTORS Effective November 5, 2012, the limits under the contractual expense limitation arrangements for certain of the series of Virtus Variable Insurance Trust have changed. Effective November 6, 2012, the following disclosure describes the current expense limitation arrangements for each affected Series. Virtus Small-Cap Value Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="92%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top">Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.90%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.20%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Acquired Fund Fees and Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.01%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.36%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.05%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.31%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 1.30%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.20%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table> Virtus Variable Insurance Trust Supplement dated December 21, 2012 to the Summary Prospectuses and Statutory Prospectuses dated May 1, 2012 IMPORTANT NOTICE TO INVESTORS Effective November 5, 2012, the limits under the contractual expense limitation arrangements for certain of the series of Virtus Variable Insurance Trust have changed. Effective November 6, 2012, the following disclosure describes the current expense limitation arrangements for each affected Series. Virtus Small-Cap Growth Series The "Annual Series Operating Expenses" table and its associated footnotes under "Fees and Expenses" in the Series' summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following.   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <tr> <td width="92%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td></tr> <tr> <td height="8"></td> <td height="8" colspan="4"></td></tr> <tr bgcolor="#cceeff"> <td valign="top">Annual Series Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</td> <td valign="bottom">  </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr> <td valign="top"> Management Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.85%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top"> Distribution and/or Service (12b-1) Fees</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.25%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr> <td valign="top">Other Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.23%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Acquired Fund Fees and Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">0.01%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Total Annual Series Operating Expenses(1)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.34%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr bgcolor="#cceeff"> <td valign="top">Less: Expense Reimbursements(2)</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(0.28%</td> <td valign="bottom" nowrap="nowrap">) </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr> <tr> <td valign="top">Net Annual Series Operating Expenses</td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1.06%</td> <td valign="bottom" nowrap="nowrap">  </td></tr> <tr style="font-size: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td valign="bottom">  </td> <td> </td></tr></table>     <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(1)</td> <td valign="top" align="left">Restated to reflect current expenses as of May 1, 2012. </td></tr></table>   <table style="border-collapse: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left">(2)</td> <td valign="top" align="left">Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 1.05%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.19%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. </td></tr></table> Restated to reflect current expenses as of May 1, 2012. Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 0.95%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.03%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 0.90%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 0.98%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 1.03%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.23%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 0.75%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 0.94%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 1.10%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.16%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 1.05%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.19%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 1.30%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 1.20%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. Prior to November 6, 2012, the Series' investment adviser had contractually agreed to limit the Series' total operating expenses (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) so that such expenses did not exceed 0.85%. Effective November 6, 2012, the contractual expense cap (excluding interest, taxes, extraordinary expenses, and acquired fund fees and expenses, if any) is 0.98%, through April 30, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred. EX-101.SCH 3 vvit1-20121221.xsd XBRL TAXONOMY EXTENSION SCHEMA 000000 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 000010 - Document - Risk/Return Supplement {Unlabeled} - VIRTUS VARIABLE INSURANCE TRUST link:presentationLink link:calculationLink link:definitionLink 000011 - Document - Risk/Return Summary {Unlabeled} - VIRTUS VARIABLE INSURANCE TRUST link:presentationLink link:calculationLink link:definitionLink 000012 - Schedule - Shareholder Fees {- VIRTUS SMALL-CAP GROWTH SERIES} link:presentationLink link:calculationLink link:definitionLink 000013 - Schedule - Annual Fund Operating Expenses {- VIRTUS SMALL-CAP GROWTH SERIES} link:presentationLink link:calculationLink link:definitionLink 000014 - Schedule - Expense Example {Transposed} {- VIRTUS SMALL-CAP GROWTH SERIES} link:presentationLink link:calculationLink link:definitionLink 000015 - Schedule - Expense Example, No Redemption {Transposed} {- VIRTUS SMALL-CAP GROWTH SERIES} link:presentationLink link:calculationLink link:definitionLink 000016 - Schedule - Annual Total Returns - VIRTUS SMALL-CAP GROWTH SERIES [BarChart] link:presentationLink link:calculationLink link:definitionLink 000017 - Schedule - Average Annual Total Returns {Transposed} {- VIRTUS SMALL-CAP GROWTH SERIES} link:presentationLink link:calculationLink link:definitionLink 000018 - Document - Risk/Return Detail {Unlabeled} - VIRTUS SMALL-CAP GROWTH SERIES link:presentationLink link:calculationLink link:definitionLink 000019 - Disclosure - Risk/Return Detail Data {Elements} - VIRTUS VARIABLE INSURANCE TRUST link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 vvit1-20121221_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 5 vvit1-20121221_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 6 vvit1-20121221_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Prospectus: Risk/Return: Document Type Document Period End Date Registrant Name Central Index Key Amendment Flag Amendment Description Trading Symbol Document Creation Date Document Effective Date Prospectus Date Supplement Text Block. Supplement Text Blockk Supplement [Text Block] Document [Axis] Prospectus Performance Measure [Axis] Before Taxes After Taxes on Distributions and Sales After Taxes on Distributions Share Class [Axis] Share Classes C000005133 [Member] Virtus Small-Cap Growth Series VIRTUS SMALL-CAP GROWTH SERIES,VIRTUS SMALL-CAP GROWTH SERIES Member Risk/Return [Heading] Objective [Heading] Objective, Primary [Text Block] Objective, Secondary [Text Block] Expense [Heading] Expense Narrative [Text Block] Shareholder Fees Caption [Text] Shareholder Fees [Table] Operating Expenses Caption [Text] Annual Fund Operating Expenses [Table] Expense Footnotes [Text Block] Expenses Deferred Charges [Text Block] Expenses Range of Exchange Fees [Text Block] Expense Example [Heading] Expense Example by Year [Heading] Expense Example Narrative [Text Block] Expense Example by, Year, Caption [Text] Expense Example, With Redemption [Table] Expense Example, No Redemption Narrative [Text Block] Expense Example, No Redemption, By Year, Caption [Text] Expense Example, No Redemption [Table] Expense Example Footnotes [Text Block] Expense Example Closing [Text Block] Portfolio Turnover [Heading] Portfolio Turnover [Text Block] Strategy [Heading] Strategy Narrative [Text Block] Risk [Heading] Risk Narrative [Text Block] Risk Footnotes [Text Block] Risk Closing [Text Block] Bar Chart and Performance Table [Heading] Performance Narrative [Text Block] Bar Chart Narrative [Text Block] Bar Chart [Heading] Bar Chart [Table] Bar Chart Footnotes [Text Block] Bar Chart Closing [Text Block] Performance Table Heading Performance Table Narrative Performance [Table] Market Index Performance [Table] Performance Table Footnotes Performance Table Closing [Text Block] Shareholder Fees: Shareholder Fees Column [Text] Maximum Cumulative Sales Charge (as a percentage of Offering Price) Maximum Cumulative Sales Charge (as a percentage) Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage) Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage) Redemption Fee (as a percentage of Amount Redeemed) Redemption Fee (as a percentage of Amount Redeemed) Redemption Fee Redemption Fee Exchange Fee (as a percentage of Amount Redeemed) Exchange Fee Maximum Account Fee (as a percentage of Assets) Maximum Account Fee Shareholder Fee, Other Operating Expenses: Operating Expenses Column [Text] Management Fees (as a percentage of Assets) Management Fees Distribution and Service (12b-1) Fees Distribution and/or Service (12b-1) Fees Distribution or Similar (Non 12b-1) Fees Component1 Other Expenses Component2 Other Expenses Component3 Other Expenses Other Expenses (as a percentage of Assets): Other Expenses Other Expenses Acquired Fund Fees and Expenses Acquired Fund Fees and Expenses Expenses (as a percentage of Assets) Total Expenses Total Annual Series Operating Expenses Fee Waiver or Reimbursement Fee Waiver or Reimbursement Less: Expense Reimbursements Net Expenses (as a percentage of Assets) Net Expenses Net Annual Series Operating Expenses Series [Axis] Series S000001949 [Member] Virtus Small-Cap Growth Series VIRTUS SMALL-CAP GROWTH SERIES Member Expense Example: Expense Example, By Year, Column [Text] Column Expense Example, with Redemption, 1 Year 1 Year Expense Example, with Redemption, 3 Years 3 Years Expense Example, with Redemption, 5 Years 5 Years Expense Example, with Redemption, 10 Years 10 Years Expense Example, No Redemption: Expense Example, No Redemption, By Year, Column [Text] Column Expense Example, No Redemption, 1 Year 1 Year Expense Example, No Redemption, 3 Years 3 Years Expense Example, No Redemption, 5 Years 5 Years Expense Example, No Redemption, 10 Years 10 Years Bar Chart Table: Annual Return Caption [Text] Caption Annual Return, Column [Text] Column Annual Return, Inception Date Inception Date Annual Return 1990 Annual Return 1991 Annual Return 1992 Annual Return 1993 Annual Return 1994 Annual Return 1995 Annual Return 1996 Annual Return 1997 Annual Return 1998 Annual Return 1999 Annual Return 2000 Annual Return 2001 Annual Return 2002 Annual Return 2003 Annual Return 2004 Annual Return 2005 Annual Return 2006 Annual Return 2007 Annual Return 2008 Annual Return 2009 Annual Return 2010 Annual Return 2011 Annual Return 2012 Annual Return 2013 Annual Return 2014 Annual Return 2015 Annual Return 2016 Annual Return 2017 Annual Return 2018 Annual Return 2019 Annual Return 2020 Average Annual Return: Label 1 Year 5 Years 10 Years Since Inception Inception Date Risk/Return Detail [Table] Virtus Capital Growth Series. S000001963 [Member] Virtus Capital Growth Series Virtus Growth & Income Series. S000001964 [Member] Virtus Growth & Income Series Virtus International Series. S000002231 [Member] Virtus International Series Virtus Multi-Sector Fixed Income Series. S000001950 [Member] Virtus Multi-Sector Fixed Income Series Virtus Real Estate Securities Series. S000001962 [Member] Virtus Real Estate Securities Series Virtus Small-Cap Value Series. S000001958 [Member] Virtus Small-Cap Value Series Virtus Strategic Allocation Series. S000001966 [Member] Virtus Strategic Allocation Series Virtus Multi-Sector Fixed Income Series. C000005134 [Member] Virtus Multi-Sector Fixed Income Series Virtus Small-Cap Value Series. C000005142 [Member] Virtus Small-Cap Value Series Virtus Real Estate Securities Series. C000005146 [Member] Virtus Real Estate Securities Series Virtus Capital Growth Series. C000005147 [Member] Virtus Capital Growth Series Virtus Growth & Income Series. C000005148 [Member] Virtus Growth & Income Series Virtus Strategic Allocation Series. C000005150 [Member] Virtus Strategic Allocation Series EX-101.PRE 7 vvit1-20121221_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 8 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } ZIP 9 0001193125-13-006447-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001193125-13-006447-xbrl.zip M4$L#!!0````(`*1>*$*:+FNT:!H``)7P`@`2`!P`=G9I=#$M,C`Q,C$R,C$N M>&UL550)``/S3NQ0\T[L4'5X"P`!!"4.```$.0$``.V=:W/B.+K'WV_5?@<= MIGI.3]4`%K=`.NFM3)+NIC9-NA*F9\ZK+LF..:]N"T0$M:@;"!8??,P<-I8>06==