Lincoln National (LNC) Launches Estate Planning Solution
Zacks Investment Research | Sep 16, 2019 10:51PM ET
Lincoln National Corporation (NYSE:LNC) has launched Lincoln Wealth Pass, a new withdrawal rider, designed particularly to help beneficiaries stretch and secure their cash. This new withdrawal rider can be accessed with American Legacy, Lincoln ChoicePlus Assurance and Lincoln Investment Solutions variable annuities for an extra cost. Moreover, the company offers beneficiaries a guarantee of getting complete inheritance by stretching distributions over their life expectancy.
This unique launch will help financial advisors and their clients transfer wealth from one generation to another in a seamless manner. With this introduction, clients will now be entitled to their money without any hindrance. Protected annual income starts immediately with Lincoln Wealth Pass and continues until the investment is returned over the owner’s life expectancy, in case they are alive.
Per LIMRA Secure Retirement Institute, more than $7 trillion will be inherited by Baby Boomers and the youth in the coming years. And around three quarters of the investible assets are in taxable accounts. If the account value is left after the demise of the owner, then the protected annual income payments can be accessed by their beneficiary.
This move is in line with Lincoln National’s strategy to meet the requirements of people during their retirement time and while they approach it. It is the recent addition to the company’s wide portfolio of annuity solutions that caters to various client needs for protected income at the time of retirement.
In 2018, annuities contributed to around 30% of its total revenues. We expect all these initiatives to bode well for this business line.
Shares of this Zacks Rank #3 (Hold) company have lost 9.5% in a year's time against its Original post
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