Lincoln Financial Group and Humana Inc. announced Wednesday that they were partnering to allow Humana agents to sell Lincoln fixed index annuities. Additionally, agents will be able to offer Lincoln's MoneyGuard long-term care solution.
The new agreement is effective immediately and will affect 2,000 Humana agents. Humana's MarketPOINT agents will begin offering Lincoln New Directions, a single premium fixed index annuity, and Lincoln MoneyGuard Reserve, a universal life insurance policy with optional long-term care riders.
Anthony Brown, senior vice president for Lincoln, expressed confidence, noting the economy's affect on consumers' retirement plans.
"With current economic conditions, people are looking more than ever for guarantees in retirement, and Lincoln is pleased to offer these solutions through Humana," he said in a statement.
Humana will offer the products to members and non-members alike.
"Our partnership with Lincoln enables us to expand what we currently offer Humana members and nonmembers," Patrick O'Toole, vice president of Humana's MarketPOINT organization, said in a release. "We chose Lincoln as a partner because they have a long history — more than a century — of experience in providing quality life insurance and retirement solutions."