Lincoln Financial Group Launches New IUL
May 19, 2015 by Business Wire
RADNOR, Pa.–(BUSINESS WIRE)– Lincoln Financial Group (NYSE:LNC) has introduced the newest addition to its suite of Indexed Universal Life (IUL) insurance products, Lincoln WealthAdvantageSM Indexed Universal Life. The new offering provides advisors flexibility in how they help clients achieve specific goals related to wealth protection and legacy planning, tax efficient income or business needs.
“Lincoln’s IUL products are seeing strong traction in the market, and the addition of Lincoln WealthAdvantageSM builds on the strength and diversity of the portfolio, providing new opportunities for advisors to address three unique client needs in a single solution,” said Michael Parker, vice president, Life Product Management, Lincoln Financial Group. “Lincoln WealthAdvantageSM offers a cost-efficient death benefit with cash value flexibility for clients seeking protection, tax-advantaged growth potential with opportunities for tax-efficient income for those focused on accumulation and distribution, while also addressing a growing need in the business insurance marketplace.”
Lincoln WealthAdvantageSM offers three death benefit options including a previously unavailable option on Lincoln IUL policies, which provides a death benefit equal to the policy face amount plus premiums paid.
In addition to an income tax-free death benefit, the Lincoln WealthAdvantageSM offers strong cash accumulation potential through three one-year point-to-point index account options tied to performance of the S&P 500 Index1 to cover a wide range of returns.
The new solution balances upside potential with the predictability of built-in guaranteed features, providing a guaranteed interest bonus beginning in year 16 regardless of S&P performance, and a guaranteed one percent minimum interest rate on all accounts to protect against negative returns2. Cash value can be accessed tax-efficiently for financial objectives such as income, college planning or retirement3.
For business purposes, Lincoln WealthAdvantageSM with the optional Surrender Value Enhancement Endorsement feature allows business owners to reposition current assets of the company to purchase life insurance, while maintaining the majority of the premiums paid as a surrenderable liquid asset. The feature waives surrender charges to provide a balance sheet-sensitive solution for executive bonus plans, key person insurance and business continuation planning, with the flexibility to adjust premiums and access enhanced cash value if short term situations require it.
Lincoln WealthAdvantageSM is available, subject to state approval, with the Lincoln LifeEnhance® Accelerated Benefits Rider (ABR)4. The Lincoln LifeEnhance® ABR is designed to provide access to tax-advantaged funds in the event of an unexpected permanent chronic or terminal illness.
Lincoln WealthAdvantageSM IUL is immediately available to Lincoln’s national network of distribution partners (in states where approved). For more information on the product, visit the Lincoln Financial Group website.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150519005469/en/
Lincoln Financial Group (Insurance Solutions)
Jay Russo, 860-466-1324
jay.russo@lfg.com
or
Lincoln Financial Distributors
Eric Samansky, 484-583-1431
eric.samansky@lfg.com
Source: Lincoln Financial Group
