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Lincoln Financial Group has introduced a new annuity, the Lincoln Level Advantage indexed annuity.

The Radnor, Pennsylvania-based company has filed the product as a variable annuity.

(Related: Lincoln Annuity Sales Rise for First Time Since 2013)

The product index menu includes the S&P 500, Russell 2000, MSCI EAFE Index and Lincoln’s Capital Strength Index.

A purchaser can also choose from a menu of several different contract terms, including a one-year term option and a six-year term option.

Options for the level of protection against index-related losses range from protection against 10% of losses to protection against 100% of losses.

A contract purchaser who wants a lifetime income stream can buy an optional i4LIFE Indexed Advantage income rider.

The minimum investment is $25,000.

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