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          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


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      <regFileNumber>811-05583</regFileNumber>
      <regCik>0000837274</regCik>
      <regLei>549300PIBKZH7YTTWU55</regLei>
      <regStreet1>One Franklin Parkway</regStreet1>
      <regCity>San Mateo</regCity>
      <regStateConditional regCountry="US" regState="US-CA"/>
      <regZipOrPostalCode>94403-1906</regZipOrPostalCode>
      <regPhone>650-312-2000</regPhone>
      <seriesName>Franklin Rising Dividends VIP Fund</seriesName>
      <seriesId>S000007313</seriesId>
      <seriesLei>5493003Y1ZI4IWT5WO58</seriesLei>
      <repPdEnd>2019-12-31</repPdEnd>
      <repPdDate>2019-12-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
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      <totLiabs>3685931.17</totLiabs>
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      <assetsInvested>0</assetsInvested>
      <amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0</amtPayOneYrOther>
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      <liquidPref>0</liquidPref>
      <cshNotRptdInCorD>0</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MICROSOFT CORP COM USD0.001</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>EXXON MOBIL CORP COM NPV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ABBOTT LABORATORIES COM NPV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>AIR PRODUCTS &amp; CHEMICALS INC COM USD1</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>HONEYWELL INTERNATIONAL INC COM USD1</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <isRestrictedSec>N</isRestrictedSec>

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        <name>PENTAIR PLC ORD USD.01</name>
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        <name>BOEING CO COM USD5</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
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        <name>MEDTRONIC PLC ORD USD.1</name>
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        <name>IFT MONEY MARKET PORTFOLIO OEMF-SWEEP MONEY MARKET PORTFOLIO</name>
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        <name>ECOLAB INC COM USD1</name>
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        <name>ABBVIE INC COM USD NPV</name>
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        <lei>549300EJG376EN5NQE29</lei>
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          <ticker value="ROST"/>
          <other otherDesc="Internal Identifier" value="30244"/>
        </identifiers>
        <balance>166730.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19410706.60000000</valUSD>
        <pctVal>1.224115665376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NUCOR CORP COM USD.4</name>
        <lei>549300GGJCRSI2TIEJ46</lei>
        <title>NUCOR CORP COM USD.4</title>
        <cusip>670346105</cusip>
        <identifiers>
          <ticker value="NUE"/>
          <other otherDesc="Internal Identifier" value="5752"/>
        </identifiers>
        <balance>130802.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7361536.56000000</valUSD>
        <pctVal>0.464247510924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANALOG DEVICES INC COM USD.167</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
        <title>ANALOG DEVICES INC COM USD.167</title>
        <cusip>032654105</cusip>
        <identifiers>
          <ticker value="ADI"/>
          <other otherDesc="Internal Identifier" value="30788"/>
        </identifiers>
        <balance>424619.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50461721.96000000</valUSD>
        <pctVal>3.182315081363</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MCDONALD'S CORP COM USD.01</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>MCDONALD'S CORP COM USD.01</title>
        <cusip>580135101</cusip>
        <identifiers>
          <ticker value="MCD"/>
          <other otherDesc="Internal Identifier" value="799"/>
        </identifiers>
        <balance>135599.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26795718.39000000</valUSD>
        <pctVal>1.689843616832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MCCORMICK &amp; CO INC COM NPV</name>
        <lei>549300JQQA6MQ4OJP259</lei>
        <title>MCCORMICK &amp; CO INC COM NPV</title>
        <cusip>579780206</cusip>
        <identifiers>
          <ticker value="MKC"/>
          <other otherDesc="Internal Identifier" value="200568"/>
        </identifiers>
        <balance>151847.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25772991.31000000</valUSD>
        <pctVal>1.625346416094</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Apergy Corp COM USD 0.01</name>
        <lei>549300EP2909K6DYYP38</lei>
        <title>Apergy Corp COM USD 0.01</title>
        <cusip>03755L104</cusip>
        <identifiers>
          <ticker value="APY"/>
          <other otherDesc="Internal Identifier" value="872165"/>
        </identifiers>
        <balance>186565.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6302165.70000000</valUSD>
        <pctVal>0.397439408989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-01-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Robert Kubilis</ncom:nameOfApplicant>
      <ncom:signature>Robert Kubilis</ncom:signature>
      <ncom:signerName>Robert Kubilis</ncom:signerName>
      <ncom:title>Chief Financial Officer, Chief Accounting Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
