Lincoln Announces Enhanced Investment Flexibility and Benefits to Its Portfolio of Guaranteed Lifetime Income Solutions

Lincoln Financial Group (NYSE: LNC) announced enhancements to its guaranteed lifetime income riders available through its flagship Lincoln ChoicePlus AssuranceSM and American Legacy® variable annuity solutions. The enhancements, which add more flexible investment requirements and increased income payouts, provide advisors and consumers with more options to help create a known source of income in retirement that they can never outlive and that can never go down.

“We continue to expect long-term growth in the annuity marketplace given demographic trends and the fraying of traditional government and corporate safety nets. Generating income in retirement is harder than ever, and we’re committed to delivering solutions that help bridge the gap between retirement savings and income needs,” said Brian Kroll, senior vice president and head of Annuity Solutions for Lincoln Financial Group. “These enhancements allow us to offer higher upside potential by giving greater access to equities, or more income through increased payout percentages – helping advisors provide clients with a known stream of income they can’t outlive.”

New rider elections of Market Select® Advantage feature more investment options without a managed risk overlay and up to 70% equity exposure (up from 60%), which can lead to higher upside growth potential through Lincoln ChoicePlus AssuranceSMand American Legacy®. New rider elections of i4LIFE® Advantage Select GIB also benefit from this enhancement. i4LIFE® is Lincoln’s unique income distribution method that offers clients tax-efficient lifetime income when investing nonqualified assets. These living benefit riders are available through Lincoln variable annuities for an additional cost.

“i4LIFE® is an especially powerful tool for nonqualified assets,” added Kroll. “No other product in the market can offer the unique income benefits and tax advantages that investors receive with i4LIFE®. With these enhancements, i4LIFE® allows clients to participate more actively in the equity market for greater income potential.”

Lincoln also announced increased income payouts for single- and joint-life contracts with new elections of Lincoln Lifetime IncomeSM Advantage 2.0 Managed Risk, an optional living benefit rider available for an additional cost with American Legacy® and Lincoln ChoicePlus AssuranceSM variable annuity solutions. Income percentages increased for the following ages:

• Joint life: ages 65-74 to 5%
• Single life: ages 65+ to 5.25%
• Single life: ages 59-64 to 4.25%

“Advisors turn to our Lincoln Lifetime IncomeSM Advantage 2.0 solution due to the higher income it can provide their clients throughout retirement relative to other solutions in the marketplace,” said John Kennedy, senior vice president and head of Retirement Solutions Distribution for Lincoln Financial Distributors. “These higher income payouts make this rider among the most competitive, and give clients even greater guaranteed lifetime income in retirement.”

Variable annuities are designed for retirement and offer lifetime income, tax-deferred growth and death benefit protection for loved ones. To decide if a variable annuity is right for you, consider that it is subject to investment risk, includes costs, and all guarantees–including those for optional features–are subject to the claims paying ability of the issuing company.

For more information about Lincoln’s variable annuity enhancements, please visit https://www.lfg.com/public/individual/exploreinsuranceannuities/annuities/variableannuities.

This press release is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, as well as to guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $229 billion in assets under management as of December 31, 2016. Learn more at: www.LincolnFinancial.com. Find us on Facebook, Twitter, LinkedIn and YouTube. To sign up for email alerts, please visit our Newsroom at http://newsroom.lfg.com.

Disclosures:

Lincoln Financial Group® affiliates, their distributors, and their respective employees, representatives, and/or insurance agents do not provide tax, accounting, or legal advice. Please consult an independent advisor as to any tax, accounting, or legal statements made herein.

Variable annuities are long-term investment products designed for retirement purposes and are subject to market fluctuation, investment risk, and possible loss of principal. Variable annuities contain both investment and insurance components and have fees and charges, including mortality and expense, administrative, and advisory fees. Optional features are available for an additional charge. The annuity’s value fluctuates with the market value of the underlying investment options, and all assets accumulate tax-deferred. Withdrawals of earnings are taxable as ordinary income and, if taken prior to age 59½, may be subject to an additional 10% federal tax. Withdrawals will reduce the death benefit and cash surrender value.

Investors are advised to consider the investment objectives, risks, and charges and expenses of the variable annuity and its underlying investment options carefully before investing. The applicable prospectuses for the variable annuity and its underlying investment options contain this and other important information. Please call 888-868-2583 for free prospectuses. Read them carefully before investing or sending money. Products and features are subject to state availability.

Lincoln variable annuities are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and distributed by Lincoln Financial Distributors, Inc., a broker-dealer. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so.

Contracts sold in New York are issued by Lincoln Life & Annuity Company of New York, Syracuse, NY, and distributed by Lincoln Financial Distributors, Inc., a broker-dealer.

LCN-1703733-020617

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