Lincoln Offers Variable Annuity Guaranteed Distribution Option

Lincoln National Life Insurance Company now offers participants in the firm’s defined contribution plans an annuity distribution option.

According to a press release, i4LIFE Advantage offers participants an income management tool that generates regular payments through an annuity option.

When the participant is ready to take a distribution, the participant can choose the i4LIFE Advantage as the distribution option. The account balance can remain invested in equities, with the potential for increasing monthly payments as a hedge against inflation.

The company asserted that the retirement money will stay invested in the market. However, it protects participants’ savings from market downturns by guaranteeing that the income payment will not fall below 75% of the initial payment.

The product allows participants to also take withdrawals in addition to their regular income distributions to pay for unexpected cash needs.

The option is now available on: Lincoln Multi-Fund 1, Multi-Fund Select, Director and Lincoln American Legacy Retirement defined contribution products.

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