National Security Variable Account L has announced a significant update regarding its variable annuity contracts. The company has filed a supplement detailing three reorganizations of its portfolios, which are expected to enhance operational efficiency and potentially improve performance for contract owners.

This filing is crucial as it indicates the company's proactive approach to optimizing its offerings in the competitive investment landscape. The reorganizations are designed to ensure that the total annual operating expenses of the survivor portfolios will be the same or lower than those of the target portfolios, which is a strategic move to maintain cost efficiency for investors.

Background

National Security Variable Account L operates under the SIC classification of 6770, which pertains to blank checks. The company is part of the investment sector and has been active in filing various forms with the SEC, including recent filings on November 3, 2026, and October 1, 2026. These filings reflect the company's ongoing efforts to keep investors informed and engaged.

What the Filing Says

The recent filing states, "The Board of Directors of the AuguStar Variable Insurance Products Fund, Inc. has approved three reorganizations, each involving portfolios available within your AuguStar variable annuity contract and/or variable life insurance policy." This indicates a structured approach to enhancing the value of the investment products offered.

Impact

The reorganizations may affect contract owners who have allocated value to one or more of the target portfolios listed in the filing. The changes will be automatically implemented, and any contract value allocated to a target portfolio will be transferred to its corresponding survivor portfolio as of the close of business on December 18, 2026. This automatic transition is designed to minimize disruption for investors.

What's Next

Following this filing, an Information Statement/Prospectus describing the reorganizations will be available on or about November 20, 2026. Contract owners are encouraged to review this document to understand the implications of the changes on their investments.

Details were not available in the SEC filing regarding any further actions required by contract owners, but they are advised that they may make one transfer of contract value out of a target portfolio or the corresponding survivor portfolio without charge during a specified period.

This proactive move by National Security Variable Account L highlights its commitment to providing value and transparency to its investors while navigating the complexities of the investment landscape.