To be launched on 15 June, the new VUL insurance product features three new indexed accounts for policyholders to grow their retirement savings
Lincoln Financial’s former headquarters in Fort Wayne, Indiana. (Credit: Wikipedia.org/Momoneymoproblemz.)
Lincoln Financial, an American insurance and investment company, has announced the launch Lincoln AssetEdge, a new Variable Universal Life (VUL) insurance product with indexed account option offering investment flexibility for customers in the US.
To be launched on 15 June, the new VUL insurance product features three new indexed accounts for policyholders to help grow their retirement savings with a level of protection during market downturns.
Apart from providing an income tax-free death benefit, AssetEdge offers tax-advantaged assets that could offer significant growth potential.
According to Lincoln Financial, the new offering comes with a range of investment options that can be customised to a client’s goals for return potential and downside protection.
To offer range of returns and guaranteed floors to protect against negative returns, the product includes four Indexed accounts tied to the performance of the S&P 500 Index.
It also includes more than 75 market-driven variable investment options to maximise growth potential.
The new offering also include multiple risk management funds to minimise the impact in a down market.
Lincoln AssetEdge Exec VUL is designed specifically to help businesses fund strategies
Lincoln Financial Group life & executive benefits distribution head and senior vice president Andy Bucklee said: “When planning for retirement, there are many considerations, such as lifestyles, wealth transfer, and potential impacts of market volatility, taxes and longevity – all of which are magnified in times of economic uncertainty.
“Life insurance is one of the few solutions that can help address all of these needs. By working with a financial professional to understand the different uses of life insurance, such as those found within the new AssetEdge, clients can further diversify their retirement portfolios, and incorporate new strategies for growth, protection and income.”
The company also stated that the Lincoln AssetEdge Exec VUL has been designed specifically to help businesses fund strategies such as buy-sell planning, key person protection, and benefit plans for recruitment and retention.
Its Lincoln AssetEdge VUL 2020 and Lincoln AssetEdge Exec VUL 2020 will be available from June 15.