Lincoln National Corp. is rolling out an option for fixed deferred annuities that guarantees the annuity’s income payouts will track with inflation.
Called the Lincoln SmartIncome Inflation option, the feature is designed for use with Lincoln’s fixed and fixed indexed annuity products. It guarantees that Lincoln, Radnor, Pa. (NYSE:LNC), will make annual adjustments to the policy’s income payouts based on changes in the Consumer Price Index-Urban.
The first income payment is the lowest payment the client would receive, the company says.
The death benefit would be equal to the remaining balance, and is also adjusted annually for inflation, the company adds.