Supplement dated
February 27, 2024
to the following statutory prospectus(es):
Waddell & Reed Advisors Select Plus Annuity, Waddell & Reed Advisors
Select Preferred, Waddell & Reed Protection VUL - New York, Waddell & Reed Accumulation VUL - New York, Waddell & Reed Protection VUL - Nationwide Life and Annuity Insurance Company, Waddell & Reed Accumulation VUL - Nationwide Life
and Annuity Insurance Company dated May 1, 2023
This supplement updates certain information contained in your statutory prospectus. Please read and retain
this supplement for future reference. |
At meetings held on January 16, 2024, the Board of Trustees (the "Board") of
Ivy Variable Insurance Portfolios - Delaware VIP Global Equity: Class II (the "Board"), approved the merger of the Ivy Variable Insurance Portfolios - Delaware VIP Global Equity: Class II (the "Target Fund") into the Ivy Variable Insurance Portfolios - Delaware Ivy Global Growth: Class II
(the "Acquiring Fund"). Subject to shareholder approval, the merger will be effective on or about April 26, 2024 (the "Effective Date").
As of the Effective Date, the following changes apply to the policy:
•
the Target Fund will no longer be available to receive transfers or new purchase
payments;
•
the Target Fund will transfer all or substantially all of its assets to the Acquiring Fund in
exchange for shares of the Acquiring Fund; and
•
the Acquiring Fund will assume all liabilities of the Target Fund.
Accordingly, the
following changes apply to the prospectus:
(1)
Appendix A is amended to add the following:
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Underlying Mutual Fund and Adviser/Subadviser |
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Average Annual Total
Returns
(as of 12/31/2022) |
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Ivy Variable Insurance Portfolios - Macquarie VIP Global Growth
Series: Service Class (formerly, Ivy Variable
Insurance Portfolios - Delaware Ivy Global Growth:
Class II) Investment Advisor: Delaware Management Company, a series
of Macquarie Investment Management Business Trust (a Delaware
statutory trust) Investment Sub-Advisor: Macquarie Investment
Management Global Limited |
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*
This underlying mutual fund’s current expenses reflect a temporary fee reduction.
(2) All references in the prospectus to the Target Fund are deleted and
replaced with the Acquiring Fund.