485BPOS 1 pea2.htm

As filed with the Securities and Exchange Commission on September 9, 2021
1933 Act Registration No. 333-252653
1940 Act Registration No. 811-08517
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
POST-EFFECTIVE AMENDMENT NO. 2
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
AMENDMENT NO. 850
Lincoln Life Variable Annuity Account N
(Exact Name of Registrant)
Lincoln Investor Advantage® Pro Advisory
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
(Name of Depositor)
1300 South Clinton Street
Post Office Box 1110
Fort Wayne, Indiana 46801
(Address of Depositor’s Principal Executive Offices)
Depositor’s Telephone Number, Including Area Code: (260) 455-2000
Craig T. Beazer, Esquire
The Lincoln National Life Insurance Company
150 North Radnor Chester Road
Radnor, PA 19087
(Name and Address of Agent for Service)
Copy to:
Carolyn E. Augur, Esquire
The Lincoln National Life Insurance Company
350 Church Street
Hartford, Connecticut 06103
Approximate Date of Proposed Public Offering: Continuous
It is proposed that this filing will become effective:
/X/ immediately upon filing pursuant to paragraph (b) of Rule 485
/ / on ______, 2021, pursuant to paragraph (b) of Rule 485
/ / 60 days after filing pursuant to paragraph (a)(1) of Rule 485
/ / on __________, pursuant to paragraph (a)(1) of Rule 485
Title of Securities being registered:
Interests in a separate account under individual flexible
payment deferred variable annuity contracts.





THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Lincoln Life Variable Annuity Account N

Lincoln Investor Advantage® Pro Variable Annuity
Lincoln Investor Advantage® Pro Advisory Variable Annuity
Lincoln Investor Advantage® Pro Advisory Choice Variable Annuity

Supplement dated September 9, 2021 to the Prospectus dated June 4, 2021

This Supplement discusses a new investment option for your Lincoln Investor Advantage® Pro individual variable annuity contract.  All other provisions of your prospectus remain unchanged. This Supplement is for informational purposes only and requires no action on your part.

The Lincoln Nasdaq-100 Buffer Fund Sep will be available as a new investment option under your contract beginning September 20, 2021.

The following line item is added to Appendix A – Funds Available Under The Contract:

Investment Objective
Fund and Adviser/
Sub-adviser
Current Expenses
Average Annual Total
Returns (as of 12/31/2020)
To track returns that track those of the Nasdaq-100® Index up to a cap, while providing a buffer against losses. A fund of funds.
Lincoln Nasdaq-100 Buffer Fund Sep – Service Class1
1.20%2
N/A
N/A
N/A
1Buffer funds employ a strategy to provide buffer protection, which includes a capped upside return risk and an outcome period risk. These strategies could limit the upside participation of the fund in rising equity markets relative to other funds and provide limited protection in the event of a market downturn. This may conflict with your investment objectives by limiting your ability to maximize growth of your Contract Value.
2This fund is subject to an expense reimbursement or fee waiver arrangement. As a result, this fund’s annual expenses reflect temporary expense reductions. See the fund’s prospectus for additional information.



Please retain this Supplement for future reference.


PART A

The prospectus for the Investor Advntage Pro Advisory variable annuity contract, as supplemented is incorporated herein by reference to the filing under Rule 497 (File No. 333-252653) filed on June 21, 2021.

PART B

The Statement of Additional Information for the Investor Advantage Pro Advisory variable annuity contract, as supplemented is incorporated herein by reference to the filing under Rule 497 (File No. 333-252653) filed on June 21, 2021.



Lincoln Life Variable Annuity Account N
PART C - OTHER INFORMATION
Item 27. Exhibits
(b) Not Applicable

 

(h) Fund Participation Agreements and Amendments between The Lincoln National Life Insurance Company and:
B-2

 

B-3

 

(j) Rule 22c-2 Agreements between The Lincoln National Life Insurance Company and:
(m) Not applicable
(n) Not applicable
(o) Not applicable
Item 28. Directors and Officers of the Depositor
The following list contains the officers and directors of The Lincoln National Life Insurance Company who are engaged directly or indirectly in activities relating to Lincoln Life Variable Annuity Account N as well as the contracts. The list also shows The Lincoln National Life Insurance Company's executive officers.
B-4

 

Name   Positions and Offices with Depositor
Craig T. Beazer*   Executive Vice President, General Counsel, and Director
Ellen G. Cooper*   Executive Vice President, Chief Investment Officer, and Director
Randal J. Freitag*   Executive Vice President, Chief Financial Officer, and Director
Christopher A. Giovanni*   Senior Vice President and Treasurer
Dennis R. Glass*   President and Director
Stephen B. Harris*   Senior Vice President and Chief Ethics and Compliance Officer
Christine Janofsky*   Senior Vice President and Controller
Keith J. Ryan**   Vice President and Director
Nancy A. Smith*   Senior Vice President and Secretary
Joseph D. Spada***   Vice President and Chief Compliance Officer for Separate Accounts
*Principal business address is Radnor Financial Center, 150 Radnor Chester Road, Radnor, PA 19087
**Principal business address is 1300 South Clinton Street, Fort Wayne, Indiana 46802
***Principal business address is 350 Church Street, Hartford, Connecticut 06096
Item 29. Persons Controlled by or Under Common Control with the Depositor or Registrant
Item 30. Indemnification
a) Brief description of indemnification provisions.
In general, Article VII of the By-Laws of The Lincoln National Life Insurance Company (Lincoln Life or Company) provides that Lincoln Life will indemnify certain persons against expenses, judgments and certain other specified costs incurred by any such person if he/she is made a party or is threatened to be made a party to a suit or proceeding because he/she was a director, officer, or employee of Lincoln Life, as long as he/she acted in good faith and in a manner he/she reasonably believed to be in the best interests of, or act opposed to the best interests of, Lincoln Life. Certain additional conditions apply to indemnification in criminal proceedings.
In particular, separate conditions govern indemnification of directors, officers, and employees of Lincoln Life in connection with suits by, or in the right of, Lincoln Life.
Please refer to Article VII of the By-Laws of Lincoln Life (Exhibit no. f(b) hereto) for the full text of the indemnification provisions. Indemnification is permitted by, and is subject to the requirements of, Indiana law.
b) Undertaking pursuant to Rule 484 of Regulation C under the Securities Act of 1933:
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the provisions described in Item 28(a) above or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer, or controlling person of the Registrant in the successful defense of any such action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
Item 31. Principal Underwriter
(a) Lincoln Financial Distributors, Inc. (“LFD”) currently serves as Principal Underwriter for: Lincoln National Variable Annuity Account C; Lincoln National Flexible Premium Variable Life Account D; Lincoln National Variable Annuity Account E; Lincoln National Flexible Premium Variable Life Account F; Lincoln National Flexible Premium Variable Life Account G; Lincoln National Variable Annuity Account H; Lincoln Life & Annuity Variable Annuity Account H; Lincoln Life Flexible Premium Variable Life Account J; Lincoln Life Flexible Premium Variable Life Account K; Lincoln National Variable Annuity Account L; Lincoln Life & Annuity Variable Annuity Account L; Lincoln Life Flexible Premium Variable Life Account M; Lincoln Life & Annuity Flexible Premium Variable Life Account M; Lincoln Life Variable Annuity Account N; Lincoln New York Account N for Variable Annuities;
B-5

 

Lincoln Life Variable Annuity Account Q; Lincoln Life Flexible Premium Variable Life Account R; LLANY Separate Account R for Flexible Premium Variable Life Insurance; Lincoln Life Flexible Premium Variable Life Account S; LLANY Separate Account S for Flexible Premium Variable Life Insurance; Lincoln Life Variable Annuity Account T; Lincoln Life Variable Annuity Account W; and Lincoln Life Flexible Premium Variable Life Account Y and Lincoln Life & Annuity Flexible Premium Variable Life Account Y; Lincoln Life Variable Annuity Account JF-H; Lincoln Life Variable Annuity Account JF-I; Lincoln Life Flexible Premium Variable Life Account JF-A; Lincoln Life Flexible Premium Variable Life Account JF-C; Lincoln Life Variable Annuity Account JL-A; Lincoln Life & Annuity Flexible Premium Variable Life Account JA-B; Lincoln Variable Insurance Products Trust; Lincoln Advisors Trust.
(b) Officers and Directors of Lincoln Financial Distributors, Inc.:
Name   Positions and Offices with Underwriter
John C. Kennedy*   President and Chief Executive Officer
Andrew J. Bucklee*   Senior Vice President and Director
William A. Nash**   Senior Vice President and Director
Christopher A. Giovanni*   Senior Vice President and Treasurer
MacGregor B. Maitland*   Vice President and Chief Compliance Officer
Thomas P. O'Neill*   Senior Vice President and Chief Operating Officer
Claire H. Hanna*   Secretary
*Principal Business address is Radnor Financial Center, 150 Radnor Chester Road, Radnor, PA 19087
**Principal Business address is 3108 Rhett Butler Place, Charlotte, NC 28270
(c) N/A
Item 32. Location of Accounts and Records
This information is provided in the Registrant’s most recent report on Form N-CEN.
Item 33. Management Services
Not Applicable.
Item 34. Fee Representation
Lincoln Life represents that the fees and charges deducted under the contracts, in the aggregate, are reasonable in relation to the services rendered, the expenses to be incurred, and the risks assumed by Lincoln Life.
B-6




SIGNATURES

(a)
As required by the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets the requirements of Securities Act Rule 485(b) for effectiveness of these Registration Statements and has caused these Post-Effective Amendments to the registration statements to be signed on its behalf, in the City of Fort Wayne, and the State of Indiana on this 7th day of September, 2021 at 3:30 pm.

Lincoln Life Variable Annuity Account N (File No: 811-08517; CIK:0001048606)

Lincoln Investor Advantage® Pro (Amendment No. 2)
Lincoln Investor Advantage® Pro Advisory (Amendment No. 2)
Lincoln Investor Advantage® Pro Advisory Choice (Amendment No.2)

Lincoln Life Variable Annuity Account N
 (Registrant)

By: /s/ Delson R. Campbell 
Delson R. Campbell
Vice President, The Lincoln National Life Insurance Company

Signed on its behalf, in the City of Hartford, and the State of Connecticut on this 8th day of September, 2021 at 8:00 am.

The Lincoln National Life Insurance Company
(Depositor)
By:  /s/ Michelle L. Grindle 
Michelle L. Grindle
(Signature-Officer of Depositor)
Vice President, The Lincoln National Life Insurance Company

(b) As required by the Securities Act of 1933, these Amendments to the registration statements have been signed by the following persons in their capacities indicated on September 7, 2021 at 3:30 pm.

Signature
Title
 
*/s/ Dennis R. Glass 
Dennis R. Glass
 
President, Director, and Chairman
(Principal Executive Officer)
 
  
Craig T. Beazer
 
Executive Vice President and Director
 
*/s/ Ellen Cooper 
Ellen Cooper
 
Executive Vice President, Chief Investment Officer, and Director
 
* /s/ Randal J. Freitag 
Randal J. Freitag
 
Executive Vice President, Chief Financial Officer, and Director
(Principal Financial Officer)
 
* /s/ Christine A. Janofsky 
Christine A. Janofsky
 
Senior Vice President, Chief Accounting Officer, and Controller
 
* /s/ Keith J. Ryan 
Keith J. Ryan
 
Vice President and Director
 
* By /s/ Delson R. Campbell, Pursuant to a Power of Attorney
       Delson R. Campbell