Prospectus Supplement
May 1, 2021
for
The Value Guard II
Issued by
THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
The following supplemental information should be read in conjunction with the Prospectus and Statement of Additional Information dated May 1, 2010 for The Value Guard II variable annuity issued through The Guardian Separate Account A.
The information below regarding your allocation options replaces the chart of variable investment options in your prospectus, as amended, in the section entitled “Your Allocation Options — The Variable Investment Options.”
The following is a list of Funds available under the contract. More information about the Funds is available in the prospectuses for the Funds, which may be amended from time to time and can be found online at
http://prospectuses.guardianlife.com/GuardianLife/ProspectusesandFinancialReports/. You can also request this information at no cost by calling the Customer Service Office Contact Center at 1-888-GUARDIAN (1-888-482-7342) or by sending an email request to GIAC_CRU@glic.com. Depending on the optional benefits you choose, you may not be able to invest in certain Funds.
The current expenses and performance information below reflects fee and expenses of the Funds, but do not reflect the other fees and expenses that your contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Fund’s past performance is not necessarily an indication of future performance.
| Type/Investment Objective | Portfolio Company and Adviser/SubAdviser | Current Expenses |
1 Year Average Annual Total Return |
5 Year Average Annual Total Return |
10 Year Average Annual Total Return | |||||
| Long-term growth of capital. | AB VPS Global Thematic Growth Portfolio (Class B) AllianceBernstein, L.P. |
1.20% | 39.08% |
17.03% |
9.67% | |||||
| Long-term growth of capital. | AB VPS Growth and Income Portfolio (Class B) AllianceBernstein, L.P. |
0.87% | 2.47% |
9.46% |
11.29% | |||||
| Long-term growth of capital. | AB VPS Large Cap Growth Portfolio (Class B) AllianceBernstein, L.P. |
0.92% | 35.15% |
20.15% |
17.14% | |||||
| Long-term growth of capital. | Davis Financial Portfolio Davis Selected Advisers, LP Davis Selected Advisers - NY, Inc. |
0.73% | -5.99% |
7.95% |
9.25% | |||||
| Total return through a combination of growth and income. | Davis Real Estate Portfolio Davis Selected Advisers, LP Davis Selected Advisers - NY, Inc. |
1.00% | -8.08% |
5.49% |
7.87% | |||||
| Long-term growth of capital. | Davis Value Portfolio Davis Selected Advisers, LP Davis Selected Advisers - NY, Inc. |
0.65% | 11.72% |
11.68% |
10.47% | |||||
| Seeks long-term capital appreciation | Fidelity VIP Contrafund® Portfolio (Service Class) Fidelity Management & Research Company and its affiliates FMR Co., Inc. and other investment advisers serve as sub-advisers for the fund. |
0.61% | 30.37% |
16.06% |
13.40% | |||||
| Seeks reasonable income. The fund will also consider the potential for capital appreciation | Fidelity VIP Equity-Income Portfolio (Service Class) Fidelity Management & Research Company and its affiliates FMR Co., Inc. and other investment advisers serve as sub-advisers for the fund. |
0.63% | 6.55% |
10.57% |
10.05% |
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| Type/Investment Objective | Portfolio Company and Adviser/SubAdviser | Current Expenses |
1 Year Average Annual Total Return |
5 Year Average Annual Total Return |
10 Year Average Annual Total Return | |||||
| Seeks as high a level of current income as is consistent with preservation of capital and liquidity. | Fidelity VIP Government Money Market Portfolio (Service Class 2) Fidelity Management & Research Company and its affiliates Fidelity Investments Money Management, Inc. and other investment advisers serve as sub-advisers for the fund. |
0.49% | 0.24% |
0.77% |
0.39% | |||||
| Seeks to provide capital growth. | Fidelity VIP Growth Opportunities Portfolio (Service Class) Fidelity Management & Research Company and its affiliates FMR Co., Inc. and other investment advisers serve as sub-advisers for the fund. |
0.74% | 68.49% |
29.12% |
21.71% | |||||
| Seeks long-term growth of capital. | Fidelity VIP Mid Cap Portfolio (Service Class) Fidelity Management & Research Company and its affiliates FMR Co., Inc. and other investment advisers serve as sub-advisers for the fund. |
0.72% | 18.04% |
10.96% |
9.39% | |||||
| Growth of capital; current income as secondary objective. | Gabelli Capital Asset Fund Gabelli Funds, LLC |
1.32% | 0.38% |
7.98% |
8.04% | |||||
| The Fund seeks capital appreciation. | Invesco V.I. American Franchise Fund (Series I) Invesco Advisers, Inc. |
0.86% | 42.35% |
19.56% |
15.32% | |||||
| Long-term growth of capital. | Invesco V.I. Core Equity Fund (Series I) Invesco Advisers, Inc. |
0.81% | 13.85% |
10.67% |
9.55% | |||||
| Seeks both capital appreciation and current income. | Invesco V.I. Equity and Income Fund (Series I) formerly Invesco V.I. Managed Volatility Fund (Series I) Invesco Advisers, Inc.1 |
0.57% | 9.95% |
8.89% |
8.54% | |||||
| Total return, comprised of current income and capital appreciation. | Invesco V.I. Government Securities Fund (Series II) Invesco Advisers, Inc. |
0.92% | 5.97% |
2.92% |
2.52% | |||||
| Long-term growth of capital. | Invesco V.I. Growth and Income Fund (Series II) Invesco Advisers, Inc. |
1.00% | 1.85% |
8.40% |
9.05% | |||||
| Seeks long-term growth of capital. | Janus Henderson Enterprise Portfolio (Institutional Shares) Janus Capital Management LLC |
0.72% | 19.47% |
18.21% |
15.25% | |||||
| Seeks long-term growth of capital. | Janus Henderson Forty Portfolio (Institutional Shares) Janus Capital Management LLC |
0.76% | 39.40% |
21.03% |
17.02% | |||||
| Seeks long-term growth of capital. | Janus Henderson Global Research Portfolio (Institutional Shares) Janus Capital Management LLC |
0.84% | 20.06% |
13.35% |
10.08% | |||||
| Seeks long-term growth of capital. | Janus Henderson Research Portfolio (Institutional Shares) Janus Capital Management LLC |
0.60% | 32.95% |
17.67% |
14.67% | |||||
| Seeks capital appreciation. | MFS® Growth Series (Initial Class) Massachusetts Financial Services Company |
0.73% | 31.86% |
20.28% |
16.80% | |||||
| Seeks capital appreciation. | MFS® Investors Trust Series (Initial Class) Massachusetts Financial Services Company |
0.79% | 13.87% |
13.66% |
12.50% | |||||
| Seeks capital appreciation. | MFS® New Discovery Series (Initial Class) Massachusetts Financial Services Company |
0.87% | 45.89% |
22.98% |
14.70% | |||||
| Seeks capital appreciation. | MFS® Research Series (Initial Class) Massachusetts Financial Services Company |
0.79% | 16.59% |
14.74% |
13.06% | |||||
| Seeks total return. | MFS® Total Return Series (Initial Class) Massachusetts Financial Services Company |
0.61% | 9.81% |
8.86% |
8.34% |
| 1 | Effective April 30, 2021, pursuant to Board and Shareholder approval, Invesco V.I. Managed Volatility Fund was merged into Invesco V.I. Equity and Income Fund, which is now an investment option under the policy. Invesco V.I. Managed Volatility Fund is no longer an investment option under the contract. |
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| Type/Investment Objective | Portfolio Company and Adviser/SubAdviser | Current Expenses |
1 Year Average Annual Total Return |
5 Year Average Annual Total Return |
10 Year Average Annual Total Return | |||||
| Seeks long-term capital growth. | Templeton Growth VIP (Class 2 Shares) Templeton Global Advisors Limited |
1.16% | 5.80% |
6.15% |
6.08% | |||||
| Long-term growth of capital. | Value Line Centurion Fund EULAV Asset Management |
0.87% | 17.55% |
14.93% |
13.40% | |||||
| High total investment return consistent with reasonable risk. | Value Line Strategic Asset Management Trust EULAV Asset Management |
0.88% | 17.98% |
13.20% |
11.47% | |||||
| The Victory 500 Index VIP Series seeks to match, before fees and expenses, the performance of the stocks composing the Victory US Large Cap 500 Index. | Victory 500 Index VIP Series Victory Capital Management Inc. |
0.28% | 20.13% |
15.32% |
13.79% | |||||
| To seek current income. Capital appreciation is a secondary objective. | Victory High Yield VIP Series Victory Capital Management Inc. Park Avenue Institutional Advisers LLC |
0.89% | 7.92% |
9.75% |
6.76% | |||||
| To seek a high level of current income and capital appreciation without undue risk to principal. | Victory INCORE Investment Quality Bond VIP Series Victory Capital Management Inc. |
0.56% | 8.35% |
4.62% |
4.05% | |||||
| A high level of current income consistent with preservation of capital. | Victory INCORE Low Duration Bond VIP Series Victory Capital Management Inc. |
0.53% | 4.33% |
2.56% |
1.94% | |||||
| Long-term capital appreciation. | Victory RS International VIP Series Victory Capital Management Inc. |
0.93% | 6.24% |
8.27% |
5.96% | |||||
| Long-term capital appreciation. | Victory RS Large Cap Alpha VIP Series Victory Capital Management Inc. |
0.55% | -0.44% |
8.98% |
9.64% | |||||
| Long-term capital growth. | Victory RS Small Cap Growth Equity VIP Series Victory Capital Management Inc. |
0.88% | 38.06% |
19.77% |
16.55% | |||||
| Long-term capital appreciation. | Victory Sophus Emerging Markets VIP Series Victory Capital Management Inc. |
1.35% | 16.17% |
13.06% |
3.01% |
Except as set forth herein, all other provisions of the prospectus noted above shall remain unchanged.
THIS PROSPECTUS SUPPLEMENT SHOULD BE RETAINED FOR FUTURE REFERENCE.
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