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Variable Products & Fund Subaccounts — Prospectuses and Reports

ONcore Series

Variable Products Updating Summary Prospectus Prospectus Statement of Additional Information Separate Account Financials
ONcore Flex Summary Prospectus Statutory Prospectus SAI SAI
ONcore Flex II Summary Prospectus Statutory Prospectus SAI SAI
ONcore Lite Summary Prospectus Statutory Prospectus SAI SAI
ONcore Lite II Summary Prospectus Statutory Prospectus SAI SAI
ONcore Lite III Summary Prospectus Statutory Prospectus SAI SAI
ONcore Premier (sold before October 1, 2012) Summary Prospectus Statutory Prospectus SAI SAI
ONcore Premier (sold on or after October 1, 2012) Summary Prospectus Statutory Prospectus SAI SAI
ONcore Premier II Summary Prospectus Statutory Prospectus SAI SAI
ONcore Select Summary Prospectus Statutory Prospectus SAI SAI
ONcore Ultra Summary Prospectus Statutory Prospectus SAI SAI
ONcore Ultra II Summary Prospectus Statutory Prospectus SAI SAI
ONcore Value (sold before October 1, 2012) Summary Prospectus Statutory Prospectus SAI SAI
ONcore Value (sold on or after October 1, 2012) Summary Prospectus Statutory Prospectus SAI SAI
ONcore Wealth Foundation Summary Prospectus Statutory Prospectus SAI SAI
ONcore Wrap Summary Prospectus Statutory Prospectus SAI SAI
ONcore Xtra (sold before October 1, 2012) Summary Prospectus Statutory Prospectus SAI SAI
ONcore Xtra (sold on or after October 1, 2012) Summary Prospectus Statutory Prospectus SAI SAI
ONcore Xtra II Summary Prospectus Statutory Prospectus SAI SAI

Available Funds

Fund Subaccounts Summary
Prospectus
Prospectus Statement of Additional Information Annual Shareholder Report Annual Financial Statements Semi-Annual Shareholder
Report
Semi-Annual Financial
Statements
Q1 Holdings Q3 Holdings
AVIP AB Mid Cap Core Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP AB Relative Value Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP AB Small Cap Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Balanced Model Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage International Equity Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Core Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Growth Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Value Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Small Cap Growth Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Balanced Allocation Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Bond Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Constellation Dynamic Risk Balanced Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Constellation Managed Risk Balanced Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Constellation Managed Risk Growth Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Constellation Managed Risk Moderate Growth Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Core Plus Bond Fund Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP High Income Bond Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Fidelity Institutional AM® Equity Growth Portfolio5 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Growth Model Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Intech U.S. Low Volatility Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Moderately Conservative Model Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Moderate Growth Model Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Nasdaq-100® Index Portfolio2 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP S&P 500® Index Portfolio3 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP S&P MidCap 400® Index Portfolio4 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Allspring VT Opportunity Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
BNY Mellon Appreciation Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
ClearBridge Variable Dividend Strategy Portfolio (Class I Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
ClearBridge Variable Large Cap Value Portfolio (Class I Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Federated Hermes Kaufmann Fund II (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Equity-Income Portfolio℠6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Government Money Market Portfolio6,7 (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Mid Cap Portfolio6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Real Estate Portfolio6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Allocation VIP Fund (Class 4) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin DynaTech VIP Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin DynaTech VIP Fund (Class 4) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Income VIP Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Income VIP Fund (Class 4) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Templeton Foreign VIP Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Templeton Foreign VIP Fund (Class 4) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Goldman Sachs Strategic Growth Fund (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Goldman Sachs Strategic Growth Fund (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Goldman Sachs U.S. Equity Insights Fund (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Invesco V.I. Comstock Fund (Series I) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Invesco V.I. EQV International Equity Fund (Series II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Balanced Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Balanced Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Global Research Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Global Research Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Overseas Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Overseas Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Research Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Research Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Lazard Retirement Emerging Markets Equity (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Lazard Retirement International Equity Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
LVIP JPMorgan Small Cap Core Fund (Standard Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Nomura VIP Asset Strategy Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Nomura VIP Natural Resources Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Nomura VIP Science and Technology Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® Massachusetts Investors Growth Stock (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® Mid Cap Growth Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® New Discovery Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® Total Return Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morgan Stanley VIF Growth Portfolio (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO CommodityRealReturn® Strategy Portfolio (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO Global Bond Opportunities Portfolio (Unhedged) (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO Low Duration Portfolio (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO Real Return Portfolio (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO Short-Term Portfolio (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings

1Because the Managed Volatility Portfolios (MVPs) are managed to mitigate downside risk, they may underperform during periods of market appreciation.

2The Nasdaq-100®, Nasdaq-100 Index®, and Nasdaq® are registered trademarks of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as “NASDAQ OMX”) and have been licensed for use by AuguStar®. The portfolio and our products have not been passed on by NASDAQ OMX as to their legality or suitability. NASDAQ OMX does not sponsor, endorse, sell or promote the portfolio or our products. NASDAQ OMX MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO THE PORTFOLIO OR OUR PRODUCTS.

3The S&P 500® Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Constellation Investments, Inc. (“CINV”) Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by CINV. The S&P 500® Index Portfolio of AuguStar® Variable Insurance Products Fund, Inc. is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500® Index.

4The S&P MidCap 400® Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Constellation Investments, Inc. (“CINV”) Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by CINV. The S&P MidCap 400® Index Portfolio of AuguStar® Variable Insurance Products Fund, Inc. is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P MidCap 400® Index.

5Fidelity Institutional AM is a registered service mark of FMR LLC. Used with permission.

6Fidelity, the Fidelity Investments Logo, Contrafund and Equity Income, are registered service marks of FMR LLC. Used with permission.

7You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Fidelity Investments and its affiliates, the fund’s sponsor, have no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. The fund will not impose a fee upon the sale of your shares, nor temporarily suspend your ability to sell shares if the fund’s weekly liquid assets fall below 30% of its total assets because of market conditions or other factors.

Not a deposit | Not FDIC insured | Not guaranteed by any bank | May lose value | Not insured by any government agency

Variable annuity issuer: AuguStar® Life Insurance Company

Registered product distributor: AuguStar® Distributors, Inc., Member FINRA

Variable annuities are sold by prospectuses, which contain more complete information including fees, surrender (contingent deferred sales) charges and other costs that may apply.

Product, product features and rider availability vary by state. Issuer not licensed to conduct business in NY.

Top Series

Variable Products Annual Update Notice Separate Account Financials Insurance Co Financials
Top Explorer Annual Notice Separate Account Financials Insurance Co Financials
Top Variable Annuities A – Top Plus, Top Traditional, Top 1, Flexible Premium Combination Annuity, Annual Payment Combination Variable Annuity, Investar Vision/Top Spectrum Annual Notice Separate Account Financials Insurance Co Financials
Top Variable Annuities B – Top Plus, Top Traditional, Top 1, Flexible Premium Combination Annuity, Annual Payment Combination Variable Annuity Annual Notice Separate Account Financials Insurance Co Financials

Available Funds

Fund Subaccounts Summary
Prospectus
Prospectus Statement of Additional Information Annual Shareholder Report Annual Financial Statements Semi-Annual Shareholder
Report
Semi-Annual Financial
Statements
Q1 Holdings Q3 Holdings
AVIP AB Mid Cap Core Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP AB Small Cap Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage International Equity Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Core Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Growth Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Value Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Small Cap Growth Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Balanced Allocation Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Bond Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Constellation Dynamic Risk Balanced Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Constellation Managed Risk Balanced Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Constellation Managed Risk Growth Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Constellation Managed Risk Moderate Growth Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Core Plus Bond Fund Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP High Income Bond Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Fidelity Institutional AM® Equity Growth Portfolio5 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Intech U.S. Low Volatility Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Nasdaq-100® Index Portfolio2 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP S&P 500® Index Portfolio3 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP S&P MidCap 400® Index Portfolio4 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Allspring VT Opportunity Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
BNY Mellon Appreciation Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
ClearBridge Variable Dividend Strategy Portfolio (Class I Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
ClearBridge Variable Large Cap Value Portfolio (Class I Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
CVT S&P 500® Index Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Federated Hermes Kaufmann Fund II (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Equity-Income Portfolio℠6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Equity-Income Portfolio℠6 (Initial Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Government Money Market Portfolio6,7 (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Growth Portfolio6 (Initial Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP High Income Portfolio6 (Initial Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Mid Cap Portfolio6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Real Estate Portfolio6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Allocation VIP Fund (Class 4) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin DynaTech VIP Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin DynaTech VIP Fund (Class 4) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Income VIP Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Income VIP Fund (Class 4) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Templeton Foreign VIP Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Templeton Foreign VIP Fund (Class 4) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Goldman Sachs Strategic Growth Fund (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Goldman Sachs Strategic Growth Fund (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Goldman Sachs U.S. Equity Insights Fund (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Invesco V.I. EQV International Equity Fund (Series II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Balanced Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Balanced Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Global Research Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Overseas Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Overseas Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Research Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Research Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Lazard Retirement Emerging Markets Equity (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Lazard Retirement International Equity Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
LVIP JPMorgan Small Cap Core Fund (Standard Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Nomura VIP Asset Strategy Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Nomura VIP Natural Resources Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Nomura VIP Science and Technology Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® Massachusetts Investors Growth Stock (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® Mid Cap Growth Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® New Discovery Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® Total Return Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morgan Stanley VIF Growth Portfolio (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO CommodityRealReturn® Strategy Portfolio (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO Global Bond Opportunities Portfolio (Unhedged) (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO Low Duration Portfolio (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO Real Return Portfolio (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings

Available Funds — Annual Payment Combination Variable Annuity and Flexible Premium Combination Variable Annuity

Fund Subaccounts Summary
Prospectus
Prospectus Statement of Additional Information Annual Shareholder Report Annual Financial Statements Semi-Annual Shareholder
Report
Semi-Annual Financial
Statements
Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Core Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings

1Because the Managed Volatility Portfolios (MVPs) are managed to mitigate downside risk, they may underperform during periods of market appreciation.

2The Nasdaq-100®, Nasdaq-100 Index®, and Nasdaq® are registered trademarks of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as “NASDAQ OMX”) and have been licensed for use by AuguStar®. The portfolio and our products have not been passed on by NASDAQ OMX as to their legality or suitability. NASDAQ OMX does not sponsor, endorse, sell or promote the portfolio or our products. NASDAQ OMX MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO THE PORTFOLIO OR OUR PRODUCTS.

3The S&P 500® Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Constellation Investments, Inc. (“CINV”) Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by CINV. The S&P 500® Index Portfolio of AuguStar® Variable Insurance Products Fund, Inc. is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500® Index.

4The S&P MidCap 400® Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Constellation Investments, Inc. (“CINV”) Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by CINV. The S&P MidCap 400® Index Portfolio of AuguStar® Variable Insurance Products Fund, Inc. is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P MidCap 400® Index.

5Fidelity Institutional AM is a registered service mark of FMR LLC. Used with permission.

6Fidelity, the Fidelity Investments Logo, Contrafund and Equity Income, are registered service marks of FMR LLC. Used with permission.

7You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Fidelity Investments and its affiliates, the fund’s sponsor, have no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. The fund will not impose a fee upon the sale of your shares, nor temporarily suspend your ability to sell shares if the fund’s weekly liquid assets fall below 30% of its total assets because of market conditions or other factors.

Not a deposit | Not FDIC insured | Not guaranteed by any bank | May lose value | Not insured by any government agency

Variable annuity issuer: AuguStar® Life Insurance Company

Registered product distributor: AuguStar® Distributors, Inc., Member FINRA

Variable annuities are sold by prospectuses, which contain more complete information including fees, surrender (contingent deferred sales) charges and other costs that may apply.

Product, product features and rider availability vary by state. Issuer not licensed to conduct business in NY.

Retirement Advantage

Variable Products Annual Update Notice Separate Account Financials Insurance Co Financials
Retirement Advantage Annual Notice Separate Account Financials Insurance Co Financials

Available Funds

Fund Subaccounts Summary
Prospectus
Prospectus Statement of Additional Information Annual Shareholder Report Annual Financial Statements Semi-Annual Shareholder
Report
Semi-Annual Financial
Statements
Q1 Holdings Q3 Holdings
AVIP AB Mid Cap Core Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP AB Small Cap Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage International Equity Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Core Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Growth Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Value Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Small Cap Growth Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Balanced Allocation Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Bond Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Constellation Dynamic Risk Balanced Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Constellation Managed Risk Balanced Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Constellation Managed Risk Moderate Growth Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Core Plus Bond Fund Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP High Income Bond Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Fidelity Institutional AM® Equity Growth Portfolio5 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Intech U.S. Low Volatility Portfolio1 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Nasdaq-100® Index Portfolio2 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP S&P 500® Index Portfolio3 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP S&P MidCap 400® Index Portfolio4 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Allspring VT Opportunity Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
BNY Mellon Appreciation Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
ClearBridge Variable Dividend Strategy Portfolio (Class I Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
ClearBridge Variable Large Cap Value Portfolio (Class I Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
CVT S&P 500® Index Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Federated Hermes Kaufmann Fund II (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Contrafund℠ Portfolio6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Equity-Income Portfolio℠6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Government Money Market Portfolio6,7 (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Mid Cap Portfolio6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Real Estate Portfolio6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Allocation VIP Fund (Class 4) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin DynaTech VIP Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Income VIP Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Templeton Foreign VIP Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Goldman Sachs Large Cap Value Fund (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Goldman Sachs Strategic Growth Fund (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Invesco V.I. Balanced-Risk Allocation Fund1 (Series II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Invesco V.I. EQV International Equity Fund (Series II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Balanced Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Balanced Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Global Research Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Global Research Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Overseas Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Overseas Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Research Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Research Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Lazard Retirement Emerging Markets Equity (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Lazard Retirement International Equity Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
LVIP JPMorgan Mid Cap Value Fund (Standard Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
LVIP JPMorgan Small Cap Core Fund (Standard Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Nomura VIP Asset Strategy Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Nomura VIP Natural Resources Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Nomura VIP Science and Technology Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® Massachusetts Investors Growth Stock (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® Mid Cap Growth Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® New Discovery Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® Total Return Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morgan Stanley VIF Growth Portfolio (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO CommodityRealReturn® Strategy Portfolio (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO Global Bond Opportunities Portfolio (Unhedged) (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO Real Return Portfolio (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO Short-Term Portfolio (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PSF PGIM Jennison Blend Portfolio (Class II Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PSF PGIM Jennison Growth Portfolio (Class II Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
TOPS® Managed Risk Balanced ETF Portfolio1 (Class 2 Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
TOPS® Managed Risk Growth ETF Portfolio1 (Class 2 Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
TOPS® Managed Risk Moderate Growth ETF Portfolio1 (Class 2 Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morningstar Aggressive Growth ETF Asset Allocation (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morningstar Balanced ETF Asset Allocation (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morningstar Conservative ETF Asset Allocation (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morningstar Growth ETF Asset Allocation (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morningstar Income & Growth ETF Asset Allocation (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings

1Because the Managed Volatility Portfolios (MVPs) are managed to mitigate downside risk, they may underperform during periods of market appreciation.

2The Nasdaq-100®, Nasdaq-100 Index®, and Nasdaq® are registered trademarks of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as “NASDAQ OMX”) and have been licensed for use by AuguStar®. The portfolio and our products have not been passed on by NASDAQ OMX as to their legality or suitability. NASDAQ OMX does not sponsor, endorse, sell or promote the portfolio or our products. NASDAQ OMX MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO THE PORTFOLIO OR OUR PRODUCTS.

3The S&P 500® Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Constellation Investments, Inc. (“CINV”) Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by CINV. The S&P 500® Index Portfolio of AuguStar® Variable Insurance Products Fund, Inc. is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500® Index.

4The S&P MidCap 400® Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Constellation Investments, Inc. (“CINV”) Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by CINV. The S&P MidCap 400® Index Portfolio of AuguStar® Variable Insurance Products Fund, Inc. is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P MidCap 400® Index.

5Fidelity Institutional AM is a registered service mark of FMR LLC. Used with permission.

6Fidelity, the Fidelity Investments Logo, Contrafund and Equity Income, are registered service marks of FMR LLC. Used with permission.

7You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Fidelity Investments and its affiliates, the fund’s sponsor, have no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. The fund will not impose a fee upon the sale of your shares, nor temporarily suspend your ability to sell shares if the fund’s weekly liquid assets fall below 30% of its total assets because of market conditions or other factors.

Not a deposit | Not FDIC insured | Not guaranteed by any bank | May lose value | Not insured by any government agency

Group Variable Annuity Issuer: AuguStar® Life Insurance Company

Registered Product Distributor: AuguStar® Distributors, Inc., Member FINRA

Group variable annuities are long-term investment vehicles designed to accumulate money on a tax-deferred basis for retirement purposes.

Retirement Advantage, a registered product, is sold by prospectus, which contain more complete information including fees, surrender charges (contingent deferred sales charges) and other costs that may apply.

Product, product features and rider availability vary by state. Issuer not licensed to conduct business in NY.

VUL Series

Variable Products Supplements dated January 2, 2026 Annual Update Notice Separate Account Financials Insurance Co Financials
Virtus VUL Supplements dated January 2, 2026 Annual Notice Separate Account Financials Insurance Co Financials
GP VUL Supplements dated January 2, 2026 Annual Notice Separate Account Financials Insurance Co Financials
Vari-Vest Asset Builder Supplements dated January 2, 2026 Annual Notice Separate Account Financials Insurance Co Financials
Vari-Vest Survivor Supplements dated January 2, 2026 Annual Notice Separate Account Financials Insurance Co Financials
Vari-Vest® I, Vari-Vest® II, Vari-Vest® III, Vari-Vest® IV, Vari-Vest® V Supplements dated January 2, 2026 Annual Notice Separate Account Financials Insurance Co Financials

Available Funds

Fund Subaccounts Summary
Prospectus
Prospectus Statement of Additional Information Annual Shareholder Report Annual Financial Statements Semi-Annual Shareholder
Report
Semi-Annual Financial
Statements
Q1 Holdings Q3 Holdings
AVIP AB Mid Cap Core Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP AB Small Cap Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage International Equity Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Core Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Growth Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Value Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Small Cap Growth Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Balanced Allocation Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Bond Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP High Income Bond Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Fidelity Institutional AM® Equity Growth Portfolio5 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Nasdaq-100® Index Portfolio2 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP S&P 500® Index Portfolio3 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP S&P MidCap 400® Index Portfolio4 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Allspring VT Opportunity Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
BNY Mellon Appreciation Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
ClearBridge Variable Dividend Strategy Portfolio (Class I Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
ClearBridge Variable Large Cap Value Portfolio (Class I Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
CVT S&P 500® Index Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Federated Hermes Kaufmann Fund II (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Contrafund℠ Portfolio6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Equity-Income Portfolio℠6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Government Money Market Portfolio6,7 (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Mid Cap Portfolio6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Real Estate Portfolio6 (Service Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Allocation VIP Fund (Class 4) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin DynaTech VIP Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin DynaTech VIP Fund (Class 4) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Income VIP Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Income VIP Fund (Class 4) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Templeton Foreign VIP Fund (Class 2) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Franklin Templeton Foreign VIP Fund (Class 4) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Goldman Sachs Large Cap Value Fund (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Goldman Sachs Large Cap Value Fund (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Goldman Sachs Strategic Growth Fund (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Goldman Sachs Strategic Growth Fund (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Goldman Sachs U.S. Equity Insights Fund (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Invesco V.I. EQV International Equity Fund (Series II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Balanced Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Balanced Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Global Research Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Global Research Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Overseas Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Research Portfolio (Institutional Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Janus Henderson VIT Research Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Lazard Retirement Emerging Markets Equity (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Lazard Retirement International Equity Portfolio (Service Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
LVIP JPMorgan Mid Cap Value Fund (Standard Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
LVIP JPMorgan Small Cap Core Fund (Standard Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Nomura VIP Asset Strategy Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Nomura VIP Natural Resources Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Nomura VIP Science and Technology Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® Massachusetts Investors Growth Stock (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® Mid Cap Growth Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® New Discovery Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
MFS® Total Return Series (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morgan Stanley VIF Growth Portfolio (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO CommodityRealReturn® Strategy Portfolio (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO Global Bond Opportunities Portfolio (Unhedged) (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO Real Return Portfolio (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PIMCO Total Return Portfolio (Administrative Share Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PSF PGIM Jennison Blend Portfolio (Class II Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
PSF PGIM Jennison Growth Portfolio (Class II Shares) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morningstar Aggressive Growth ETF Asset Allocation (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morningstar Balanced ETF Asset Allocation (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morningstar Conservative ETF Asset Allocation (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morningstar Growth ETF Asset Allocation (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Morningstar Income & Growth ETF Asset Allocation (Class II) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings

Available Funds — Vari-Vest I and III

Fund Subaccounts Summary
Prospectus
Prospectus Statement of Additional Information Annual Shareholder Report Annual Financial Statements Semi-Annual Shareholder
Report
Semi-Annual Financial
Statements
Q1 Holdings Q3 Holdings
AVIP AB Mid Cap Core Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP AB Small Cap Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage International Equity Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Advantage Large Cap Core Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP BlackRock Balanced Allocation Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Bond Portfolio Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP Fidelity Institutional AM® Equity Growth Portfolio5 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
AVIP S&P 500® Index Portfolio3 Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings
Fidelity® VIP Government Money Market Portfolio6,7 (Service Class) Summary Prospectus Statutory Prospectus SAI Annual Report Annual Financial Statements Semi-Annual Report Semi-Annual Financial Statements Q1 Holdings Q3 Holdings

1Because the Managed Volatility Portfolios (MVPs) are managed to mitigate downside risk, they may underperform during periods of market appreciation.

2The Nasdaq-100®, Nasdaq-100 Index®, and Nasdaq® are registered trademarks of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as “NASDAQ OMX”) and have been licensed for use by AuguStar®. The portfolio and our products have not been passed on by NASDAQ OMX as to their legality or suitability. NASDAQ OMX does not sponsor, endorse, sell or promote the portfolio or our products. NASDAQ OMX MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO THE PORTFOLIO OR OUR PRODUCTS.

3The S&P 500® Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Constellation Investments, Inc. (“CINV”) Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by CINV. The S&P 500® Index Portfolio of AuguStar® Variable Insurance Products Fund, Inc. is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500® Index.

4The S&P MidCap 400® Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Constellation Investments, Inc. (“CINV”) Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by CINV. The S&P MidCap 400® Index Portfolio of AuguStar® Variable Insurance Products Fund, Inc. is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P MidCap 400® Index.

5Fidelity Institutional AM is a registered service mark of FMR LLC. Used with permission.

6Fidelity, the Fidelity Investments Logo, Contrafund and Equity Income, are registered service marks of FMR LLC. Used with permission.

7You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Fidelity Investments and its affiliates, the fund’s sponsor, have no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. The fund will not impose a fee upon the sale of your shares, nor temporarily suspend your ability to sell shares if the fund’s weekly liquid assets fall below 30% of its total assets because of market conditions or other factors.

Not a deposit | Not FDIC insured | Not guaranteed by any bank | May lose value | Not insured by any government agency

Variable Product Issuer: AuguStar® Life Insurance Company

Registered Product Distributor: AuguStar® Distributors, Inc., Member FINRA

Variable products are sold by prospectuses, which contain more complete information, including fees, surrender charges (contingent deferred sales charges) and other costs that may apply.

Product, product features and rider availability vary by state. Issuer not licensed to conduct business in NY.