Lincoln Financial Group Launches Annuity Payout Option On Its Lincoln SmartIncome(SM) Inflation Fixed Annuity Solution
PHILADELPHIA, May 14 /PRNewswire-FirstCall/ -- With today's economic environment, there is an overwhelming need for flexible annuity solutions. That is why Lincoln Financial Group recently announced the Lincoln SmartIncome(SM) Inflation fixed annuity payout option on its individual deferred annuity products. Lincoln SmartIncome(SM) Inflation fixed annuity helps clients address the impact of inflation on their retirement income while alleviating concerns over lack of access to assets for unexpected needs and potential loss of remaining monies in the event of premature death.
"Today, many clients want income options that will keep pace with the ever-changing economic environment," said Kris Kattmann, Vice President and Associate Actuary, Retirement Solutions. "When clients are ready to begin taking income from their Lincoln deferred annuity contract, Lincoln SmartIncome(SM) Inflation fixed annuity payout option provides an opportunity to choose an income option that is guaranteed to keep track with inflation without taking equity risk."
The annuity payout option on the Lincoln SmartIncome(SM) Inflation fixed annuity solution includes the following combination of key features:
- Guaranteed inflation-adjusted income payments for life(1)
- No exposure to market risk
- Guaranteed annual adjustments to income, based on changes in the Consumer Price Index-Urban (CPI), which help clients keep pace with inflation. The first income payment is the lowest payment the client would receive.
- Death benefit for beneficiaries equal to the remaining balance, also adjusted annually for inflation
- Access to money for unexpected needs(2)
- Tax-efficient payments to help reduce the impact of taxes on income. This applies to contracts with non-qualified assets.
With the launch of the Lincoln SmartIncome(SM) fixed annuity payout option, clients now have the flexibility of choosing from three innovative income options that fit their needs. In addition to the Lincoln SmartIncome(SM) income option, Lincoln Financial also offers:
- Lincoln Lifetime Income(SM) Advantage - variable annuities with this solution provide clients with 5% lifetime income today as well as guaranteed minimum growth for the future.
- i4LIFE® Advantage – variable annuities with i4LIFE® Advantage can provide clients with guaranteed income growth and growth potential in a tax efficient package.
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