Lincoln Financial Group

4.55%
5 Year Term
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company Information

Company Name

Lincoln Financial Group

product Name
MYGuarantee Plus 5
Description
Lincoln Financial Group traces it's roots to 1905. Abraham Lincoln's son, Robert Todd Lincoln, gave the Lincoln an endorsement to use his father's name. Lincoln is the only company to carry the Abraham Lincoln name. Lincoln Financial Group offers products that helps people feel in control, confident, and financially prepared. They are dedicated to helping Americans secure better, more optimistic futures for themselves and their families.
am best rating
A Excellent (3rd of 13 ratings)
Product Type
MYGA
Product description

Fixed annuities are for conservative investors who want safety, security, and guarantees.

You will preserve your principal and earn a fixed rate of return.

You might hear fixed annuities also called CD-like annuities or multiple-year guarantee annuities (MYGA's).

If you are sensitive to loss and don't want to lose a penny, a fixed annuity might be a good fit for some of your savings.

Read our educational articles on fixed annuities to learn more.

Rate Lock Period:

This is the number of days you have to get the funds to the insurance company after the application has been signed and submitted.

Qualified Retirement account: 60 days
Non-Qualified/after-tax annuity: N/A
1035 Annuity Exchange: 60 days

Riders & Features Available:
The following riders and features are available for this product.

Death Benefit

Rate Banding:
$10,000 - $99,999
$100,000 - $2,000,000

Investment Amounts in higher bands receive higher rates.

term
5 yrs
minimum investment
$ 10,000
maximum investment
$ 2,000,000
maximum age
85
withdrawal allowance
You can withdraw up to 10% of the accumulated value each year of the contract penalty-free.

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*Please provide an investment amount before applying.

Guaranteed Returns

Disclaimer: Some companies have rate banding and pay different rates based on your investment amount.

Please enter an accurate investment amount.

$
Should be at least $10,000
The maximum investment is $2,000,000
The field is required.
YEARRATEEARNINGSCUMULATIVE EARNINGSBALANCE
13.65%$ ?$ ?$ ?
23.65%$ ?$ ?$ ?
33.65%$ ?$ ?$ ?
43.65%$ ?$ ?$ ?
53.65%$ ?$ ?$ ?
Total$ ?$ ?$ ?

Enter an investment amount to calculate your earnings and account balance over the life of the contract.

Surrender Charge Schedule

Surrender charges are a penalty charged to early withdrawals of annuity contract. They are a percentage of the withdrawal amount, decrease over time, and go to zero when the term ends.

percentage charged to withdrawal

Year
Percentage
1
7%
2
7%
3
6%
4
5%
5
4%
market-value adjustment (MVA)

A market value adjustment is basically an additional charge or credit for taking money out early from an annuity.

They allow companies to pay a higher rate and make longer-term investments.

MVAs only affect you if you withdraw funds early. If you own the contract to maturity, they do not apply.

other Information

moody’s ratingA1 Good (5th of 21 ratings)
fitch ratingA+ Strong (5th of 21 ratings)
S&P ratingA+ Strong (5th of 21 ratings)
phone number(800) 237-3813
Product brochure
agent
commission
.75-2.00%. We are paid from the insurance company general fund. It is not deducted from your account value. 100% of your money is working for you from day one. We could earn a higher commission based on sales volume and taking a more active role in the application process.
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Rate Effective DateNovember 18th 2024
premium TypeSingle Premium Annuity
account TypePersonal, Traditional IRA, Roth IRA, SEP-IRA, SIMPLE-IRA, 403(b).
Not available inCA, NY
options at
maturity

At the end of the term, you can withdraw the account value, transfer it to another annuity, or turn the balance into a guaranteed income stream via annuitization. If you do nothing, the money will remain in the contract and earn the current interest rate they are offering. If the contract matures before you turn 59 ½, any withdrawals from a non-qualified account will be charged a 10% penalty.

death benefit provisionIf you pass away before the end of your annuity contract, your beneficiaries will receive the accumulated policy value. This value will include all interest you have earned and be passed without any charges or fees.
taxesUnlike bank CDs, the interest you earn in an annuity grows tax-deferred. The taxation will vary depending on the type of account you own. Non-qualified annuities are funded with after-tax money from checking, savings, taxable brokerage accounts, etc.. Only the interest earned will be taxable at ordinary income when withdrawn from the annuity. Annuities funded by a Traditional or “pre-tax” IRA will be 100% taxable distributions. Both the principal and interest will be taxed as ordinary income. IRAs are already tax-deferred, so the annuity does not add an extra tax benefit. Annuities funded by a Roth IRA will not be taxed at withdrawal.
surrender schedule
7%, 7%, 6%, 5%, 4%
free-look period20 Days - This is the number of days you have after your policy has been delivered to change your mind and get a refund.
RMDYes
market value adjustmentYes
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