Helps people secure their financial futures by offering guaranteed tax deferred growth without market risk
Lincoln Financial Group has introduced its new single purchase payment product, Lincoln GrowSmart fixed annuity offered through broker dealer distribution.
This new retirement solution aids people secure their financial futures by offering guaranteed tax deferred growth without market risk and the protection of a guaranteed death benefit for clients’ beneficiaries.
The solution also offers clients the flexibility of multiple interest rate guarantee periods to meet their specific needs.
Kris Kattmann, VP and Associate Actuary for Lincoln Financial Group, said: People are living longer, facing increasing costs, and addressing new challenges every day. Lincoln GrowSmart fixed annuity can help to address some of these challenges by offering potential for growth, protection from market downturns and the flexibility to choose a competitive interest rate period suited to their financial goals.
Lincoln GrowSmart Fixed Annuity offers tax-deferral in which it enables people to defer paying taxes until money is withdrawn. It provides multiple interest rate periods in which clients can choose one of eight interest rate periods, ranging from three to 10 years. Moreover, it offers guaranteed death benefit and emergency access to assets in case of death in which it provides access to income each year with a 10% withdrawal allowed before the interest guarantee period ends.
Lincoln GrowSmart single premium deferred annuity (contract form 09-612) is a fixed annuity issued by The Lincoln National Life Insurance and distributed by Lincoln Financial Distributors. The Lincoln National Life Insurance does not solicit business in the state of New York, nor is it authorised to do so. The contractual obligations are backed by the claims-paying ability of The Lincoln National Life Insurance.