<PAGE>
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Lincoln Life Flexible Premium Variable Life Account R
Separate Account Prospectus for LSVULII
June 12, 2000 Supplement
to
May 1, 2000 Prospectus
PLEASE READ THE FOLLOWING INFORMATION CAREFULLY, AND MAINTAIN THIS SUPPLEMENT
WITH YOUR PROSPECTUS.
The following language should be inserted in the Highlights Section of this
Prospectus, specifically in the "Surrender In Full" subsection under "Charges
and Fees" on page 5:
"In the event of a full surrender of the Policy, the maximum surrender
charge per $1,000 of Specified Amount will not exceed $37.40."
