Supplement to the

Fidelity® Variable Insurance Products:

Bond Index Portfolio

Initial Class, Service Class, and Service Class 2

April 29, 2024

Prospectus

Richard Munclinger no longer serves as Co-Portfolio Manager of the fund.

The following information supplements information found in the "Fund Summary" section under the "Portfolio Manager(s)" heading.

Mark Lande (Co-Portfolio Manager) has managed the fund since 2024.

The following information supplements the biographical information found in the "Fund Management" section under the "Portfolio Manager(s)" heading.

Mark Lande is Co-Portfolio Manager of VIP Bond Index Portfolio, which he has managed since 2024. He also manages other funds. Since joining Fidelity Investments in 2011, Mr. Lande has worked as a quantitative analyst and portfolio manager.

VUSB-PSTK-0125-102 1.9900308.102 January 31, 2025