Build Your Own Annuity Portfolio

Principal value and investment returns of a variable annuity will fluctuate and you may have a gain or loss when money is withdrawn.

1. Certain Funds impose a 1% short-term redemption fee on interests in separate accounts held less than 60 days. For more details about this fee, including a list of funds that impose it, please refer to the prospectus.
2. An investment in the Fidelity VIP Money Market Portfolio is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the underlying fund seeks to preserve the value of investments at $1 per share, it is possible to lose money in the portfolio.
3. Placement is based on each fund's Morningstar Category as of 10/31/2011. While the prospectus objective identifies a fund's investment goals based on the wording in the fund prospectus, the Morningstar Category classifies funds based on their investment styles as measured by their underlying portfolio holdings (portfolio statistics and compositions over the past three years). If the fund is new and has no portfolio, Morningstar estimates where it will fall before assigning a more permanent category. When necessary, Morningstar may change a category assignment based on current information.
4. Formerly known as Fidelity VIP Aggressive Growth.
5. Investments in Fidelity VIP sector funds, Fidelity VIP Overseas Portfolio, Fidelity VIP Emerging Markets Portfolio, and Fidelity VIP International Capital Appreciation Portfolio transferred or withdrawn in less than 60 days of purchase will be assessed a 1% fee, which is retained by the fund. Investing in sector funds may be more volatile because of their narrow investment concentration.
6. Formerly known as Invesco Van Kampen V.I. Global Value Equity.
7. Formerly known as Morgan Stanley International Magnum.
8. Changes in real estate values or economic conditions can have a positive or negative effect on issuers in the real estate industry, which may affect the fund. Non-diversified funds that focus on a relatively small number of stocks tend to be more volatile than diversified funds and the market as a whole.

© 2012 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data.

Withdrawals of taxable amounts from annuities are subject to ordinary income tax, and, if taken before age 59½, may be subject to a 10% IRS penalty.

Fidelity Personal Retirement Annuity (Policy Form No. DVA-2005, et al.) is issued by Fidelity Investments Life Insurance Company and, for New York residents, Personal Retirement Annuity (Policy Form No. EDVA-2005, et al.) is issued by Empire Fidelity Investments Life Insurance Company,^® New York, N.Y. Fidelity Brokerage Services, Member NYSE, SIPC, and Fidelity Insurance Agency, Inc. are the distributors. The contract’s financial guarantees are solely the responsibility of the issuing insurance company.

VIP refers to Variable Insurance Products.

VIT refers to Variable Insurance Trust.

Bond funds entail interest rate risk (as interest rates rise, bond prices usually fall), the risk of issuer default, issuer credit risk, and inflation risk. Lower-quality bonds can be more volatile and have greater risk of default than higher-quality bonds.