Prospectus by Investment Company (Form 497)

THE LINCOLN NATIONAL LIFE INSURANCE COMPANY

Lincoln Life Variable Annuity Account N

Lincoln ChoicePlus Assurance^SM Bonus

LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK

Lincoln New York Account N for Variable Annuities

Lincoln ChoicePlus Assurance^SM Bonus

Supplement dated December 13, 2024 to the Prospectus dated May 1, 2024

This Supplement clarifies certain information that is stated incorrectly in your Lincoln ChoicePlus Assurance^SM Bonus variable annuity prospectus.

Optional Benefit Expenses. The i4LIFE^® Advantage charge rate for certain contracts is understated in error in the fee table of your prospectus. The footnote below clarifies that charge rate and replaces the current i4LIFE^® Advantage footnote in your prospectus:

⁷ As an annualized percentage of average Account Value, computed daily. This charge is assessed only on and after the effective date of i4LIFE^® Advantage and is added to your base contract expense. The i4LIFE^® Advantage charge rate is 0.45% for contracts with the EGMDB that were purchased prior to June 6, 2005 (or later depending on state approval). The i4LIFE^® Advantage charge rate is reduced to 1.65% during the Lifetime Income Period. See Charges and Other Deductions - i4LIFE^® Advantage Charge in your prospectus for more information.

The charge for i4LIFE^® Advantage is stated correctly in your Contract. Please refer to your Contract Specifications page for information about the specific fees you will pay each year based on the options you have elected.

Please retain this Supplement for future reference.