An insurer has come out with a new annuity income guarantee.
Lincoln National Corp., Philadelphia, has introduced the 4LATER Advantage optional benefit.
Workers who buy the benefit together with Lincoln’s iLIFE Advantage variable annuity can guarantee “a 15% increase in an investor’s income base, with an automatic reset every 3 years,” according to Lincoln. “The income base–if greater than the account value–is used to determine the owner’s guaranteed minimum income.”
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