Lincoln Insured Income Immediate Annuity Review
Why invest with Lincoln?
Because your income provider matters.
Lincoln Financial Group has been helping investors take charge of their futures since 1905 and has the capability, commitment, and consistency you can count on. These qualities matter most when you’re relying on a guaranteed income stream to carry you through retirement.
The Lincoln Difference
Capability
We develop products and solutions by understanding your changing needs.
Commitment
Our strength as a company allows us to remain committed to the clients we serve — well into the future.
Consistency
Lincoln has long been distinguished by a steady approach — deliberate decisions that consider the long-term economic environment.
Lincoln Insured Income Immediate Annuity details
Issue Dates
Contracts are issued each regularly scheduled Lincoln Financial Group workday.
Issue information
Nonqualified and qualified:
1. 15 – 80 for lifetime-based payment options 2. 15 – 85 for lifetime-based payment options with a minimum guaranteed amount or number of payments 3. 0 – 95 for period certain
The age to the nearest birthday will be used when the contract is issued. Once the contract is issued, the annuitant/joint annuitant, payment option and the frequency of payments cannot be changed. The contract is irrevocable — there are no surrender provisions available.
Premium Requirements
Single premium, immediate income annuity:
1. Minimum: $25,000; Period Certain minimum: $10,000 2.Maximum: $2,000,000 without prior Home Office approval
Payment frequency
Monthly, quarterly, semiannual, annual
Payment start date
The first payment may occur anytime immediately following the contract issue date but no later than the first contract anniversary.
Death benefit
Deferral phase: no death benefit until payments start, at which point it will depend on the payment option. Lifetime-based payment options do not have any death benefit (at any time).
We had heard about annuities and were investigating them for our IRAs. We also heard bad things about pushy brokers over the years. So when we went to the ImmediateAnnuities.com site we were skeptical about calling them. But whenever we called their staff was really friendly. They answered all our questions and one of their reps even told us that at our ages there was no advantage to buying the annuity with our IRAs. These guys are really honest!
Income phase: death benefit, if any, is determined by the payment option elected.
Cost-of-living adjustment
An optional annual compounded increase of 1%, 2% or 3% can be elected at issue.
1. Increase applies after the first anniversary of the payment start date. 2. This option decreases the initial scheduled payment.
Annuity payout options
Income for One
Life Only. Receive guaranteed income payments for the rest of your life.
Life with cash refund. Lifetime payments until the death of the annuitant. If income payments have not totaled your initial premium at death, the difference will be paid to your beneficiaries as a lump sum.
Life with period certain. Receive payments for your lifetime OR a designated period, whichever is longer.
Life with installment refund. Lifetime payments until the death of the annuitant. If income payments have not totaled your initial premium at death, the difference will be paid to your beneficiaries in scheduled payments.
Income for Two
Joint and survivor life. Receive payments for the lifetime of both annuitants.
Joint and percentage to survivor life. Full payments until the first death and then a selected percentage of the original income is paid until the second death.
Contingent joint and percentage to survivor life. Full payments for the lifetime of the primary annuitant, or if that person dies, a percentage of payments are paid until the joint annuitant’s death.
Joint and survivor life with period certain. Lifetime payments for both lives or a designated period, whichever is longer.
Period Certain
Payments to the annuitant for a designated period of time. In the event of the death of the annuitant, payments continue to the beneficiaries for the duration of the time period chosen.
Today and Tomorrow
For more than 100 years, Lincoln Financial Group has inspired Americans to take charge of their futures. Today, 12 million Americans trust Lincoln Financial to help them build, protect and distribute their wealth during and after their lifetimes.
Discuss your long-term retirement goals with your advisor and ask how Lincoln Financial fits as part of your retirement strategy.
LCN-1217173-060415
