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Lincoln Adds VA GLWB Rider

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A variable annuity manufacturer has introduced a guaranteed lifetime withdrawal benefit rider.

Lincoln National Corp., Philadelphia, says the new Lincoln Lifetime Income Advantage GLWB rider will be available with the American Legacy and Choice Plus VA products.

The rider can guarantee lifetime access to withdrawals, annual 5% increases, annual adjustments to reflect market gains, and a guaranteed minimum accumulation option, Lincoln says.

Lincoln’s Lincoln National Life Insurance Company writes and the variable annuities and the new VA rider and is responsible for backing the rider guarantees.