The head of Lincoln National Corp. says the company will avoid using big changes in annuity product features to drive sales.
Dennis Glass, president of Lincoln National, Radnor, Pa. (NYSE:LNC), talked about annuity product features during the company’s recent second-quarter earnings call.
One securities analyst noted that some of Lincoln National’s competitors seem to be reducing the attractiveness of variable annuity guarantees at a time when Lincoln National appears to be doing well enough to take a chance on creating opportunities.
Glass said Lincoln National has no plans to use richer guarantees to increase sales.
“We keep pretty close attention to what the competition is doing,” Glass said. “It does seem like people are coming back to where we are.”
Annuity sales already are doing well, and they may do even better, without Lincoln having to make big changes, if the competitive situation changes, Glass said.
- Allison Bell