Lincoln Financial Group Expands Suite of In-Plan Guaranteed Lifetime Income Products to Offer More Flexibility, Choice and Customization in Retirement
Most recent expansion is a result of increased need for guaranteed income option
Lincoln continues to see a need for guaranteed retirement income products, which can help create a foundation for security, providing monthly income that continues for as long as the participant lives. In Lincoln’s 2023 Wellness@Work study, stating
This newly added lifetime income balanced fund option is available within managed accounts and as a stand-alone option in retirement plans, and will allow participants to:
- Receive guaranteed payments for the rest of their lives;
- Enjoy protection in times of declining markets;
- Participate in rising markets with potentially higher income levels;
- Have flexibility and access to their underlying account value should their needs change.
“After the success of our current guaranteed lifetime income products, we saw the opportunity to develop additional options to be used in a variety of other settings,” says Matt Condos, senior vice president, Retirement Plan Services Product Solutions. “We engaged the best and brightest investment managers to innovate a new solution. Our full suite of Lincoln PathBuilder Income® powered by YourPath® products are truly a differentiator for Lincoln clients when it comes to flexibility, choice and customization in the guaranteed lifetime income space.”
To learn more about Lincoln’s broad suite of guaranteed income products, click here.
About Lincoln Financial Group
Lincoln Financial Group helps people to plan, protect and retire with confidence. As of December 31, 2023, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of June 30, 2024, the company had
YourPath® conservative, moderate, aggressive, and lifetime income portfolios are target-date + risk portfolios available as investment options in the Lincoln Alliance® program and the Lincoln Director℠ group variable annuity contract. Lincoln PathBuilder Income® powered by YourPath® solution consists of YourPath® portfolios along with a guarantee.
Solutions are offered as a group annuity. The guarantee is provided by a contract with The Lincoln National Life Insurance Company that provides a plan participant with guaranteed annual retirement income. All contract and rider guarantees, including those for optional benefits, guaranteed income, or annuity payout rates, are subject to the claims-paying ability of the issuing insurance company. They are not backed by the broker-dealer or insurance agency this annuity is purchased from or any affiliates of those entities other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims-paying ability of the issuer. A group variable annuity is a long-term investment product designed particularly for retirement purposes and may not be suitable for all investors. Group annuities contain insurance components and have fees and expenses, including administrative fees. The group annuity is paired with an investment option that fluctuates with the market value. Withdrawals may carry tax consequences, including possible tax penalties.
Lincoln PathBuilder Income® group contingent deferred annuity contract (contract form AN-745 and state variations) is issued by The Lincoln National Life Insurance Company,
Investors are advised to consider carefully the investment objectives, risks, and charges and expenses of the group variable annuity and its underlying investment option before investing. For this and other additional information, please contact Lincoln Financial. Please read this information carefully before investing or sending money. Products and features are subject to state availability.
LCN-6786375-071224
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Source: Lincoln Financial Group
