Jennifer Schell, CAS®
  • Written by Jennifer Schell, CAS®
  • Edited By
    Lamia Chowdhury
    Lamia Chowdhury, editor for RetireGuide.com

    Lamia Chowdhury

    Financial Editor

    Lamia Chowdhury is a financial content editor for RetireGuide and has over three years of marketing experience in the finance industry. She has written copy for both digital and print pieces ranging from blogs, radio scripts and search ads to billboards, brochures, mailers and more.

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  • Published: June 19, 2024
  • Updated: June 21, 2024
  • 5 min read time
  • This page features 5 Cited Research Articles
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How to Cite RetireGuide.com's Article

APA Schell, J. (2024, June 21). Lincoln Financial Annuities. RetireGuide.com. Retrieved July 15, 2024, from https://www.retireguide.com/annuities/companies/lincoln-financial/

MLA Schell, Jennifer. "Lincoln Financial Annuities." RetireGuide.com, 21 Jun 2024, https://www.retireguide.com/annuities/companies/lincoln-financial/.

Chicago Schell, Jennifer. "Lincoln Financial Annuities." RetireGuide.com. Last modified June 21, 2024. https://www.retireguide.com/annuities/companies/lincoln-financial/.

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Key Principles

RetireGuide’s mission is to provide seniors with resources that will help them reach important financial decisions that affect their retirement. Our goal is to arm our readers with knowledge that will lead to a healthy and financially sound retirement.

We’re dedicated to providing thoroughly researched annuity information that guides you toward making the best possible financial decisions for you and your family.

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Our partnership with SMS (and Insuractive, the company’s consumer-facing branch) allows us to deliver expertly researched and reviewed content at no cost or obligation to all of our visitors. It also gives our visitors the opportunity to take the next step in their financial journey by requesting help from our partner through the phone numbers or forms provided on our website.

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Key Takeaways
  • Lincoln Financial sells a notable number of annuity products across various categories.
  • Some of its most robust offerings can be found among its fixed index and variable annuities.
  • Lincoln Financial scores well in customer satisfaction and has strong financial strength ratings.

Products Offered

Fixed, Immediate and Deferred Annuities

Lincoln Financial sells a simple fixed annuity along with a deferred and immediate income annuity.

Its fixed annuity, the Lincoln MYGuarantee Plus, is available in terms of five or seven years and functions as a straightforward fixed annuity.

The Lincoln Insured Income immediate annuity is the carrier’s SPIA option. It includes all of the industry-standard customization common to these products.

Customers can choose from several payment options, including both single life and joint-and-survivor life choices, as well as setting the frequency of payments and the timeframe they cover.

The company also offers the Lincoln Deferred Income Solutions annuity, which enables customers to create future income.

It includes similar levels of customization to the Lincoln Insured Income annuity, along with the flexibility to adjust your payout start date by five years in either direction from the originally agreed-upon date.

There is also the option to convert six months’ worth of payments into a lump sum. These features help protect customers from unforeseen circumstances, allowing them to adjust their product to match life changes.

Fixed Index Annuities

Lincoln Financial has a strong mix of fixed index annuities, with four different products currently available.

Lincoln Financial Fixed Index Annuities
  • Lincoln OptiBlend
  • Lincoln Covered Choice 5 II
  • Lincoln Covered Choice Advisory 5 II
  • Lincoln FlexAdvantage

The Lincoln OptiBlend, available in terms of five, seven or 10 years, gives you the ability to benefit from market growth without having to risk losing your principal.

The company guarantees to never credit your account less than 0%. Customers have access to nine different indexed account options to choose from.

The Lincoln Coverer Choice 5 II and Lincoln Coverer Choice 5 Advisory II are available in five-year terms and offer access to three types of indexed accounts tied to the S&P 500.

If you opt for the LincolnFlex Advantage, six indexed accounts are available, including a BlackRock option and Fidelity AIM option. This product is available in five-year and seven-year terms.

Variable Annuities

For those interested in variable annuities, Lincoln Financial sells a wide array of options.

The American Legacy series, consisting of eight individual products, has been available since 1987 and currently has over 250,000 active contracts.

These annuities provide access to American Funds investing as well as the standard tax deferral features that make variable annuities attractive investment vehicles.

Lincoln Financial offers numerous riders to help you craft your product to your liking, including options to protect your beneficiaries and to create an income stream.

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Lincoln Financial Overview

Lincoln Financial is a massive company that covers a broad range of insurance services. However, this diversity hasn’t stopped it from developing into a giant in the annuity industry.

The company exceeded $12 billion in annual direct annuity premiums in 2022, holding a significant market share compared to many key competitors.

This can be attributed in part to the number of annuity products available. Many carriers focus on one or two types of products, while Lincoln Financial strives to cover the whole board.

Lincoln Financial was originally founded in 1905 and is one of the legacy companies of the insurance space. It has been a massive force for a century, breaking $1 billion in policies as early as 1933.

Are You an Existing Customer?
Log into your Lincoln Financial account or contact customer service at (877) 275-5462.

Lincoln Financial’s Reputation and Financial Standing

Lincoln Financial Credit Ratings
AM BestA
FitchA+
S&PA+

Lincoln Financial has a strong, solid reputation thanks to the company’s size and effectiveness.

Its financial strength and credit ratings far exceed much of its competition.

Customer Satisfaction

Lincoln Financial consistently scores well in customer satisfaction.

The company achieved an above-industry-average score in the 2022 J.D. Power Overall Customer Satisfaction Index for annuities and climbed several spots to secure the 7th highest ranking among annuity carriers in the 2023 edition.

Lincoln Financial also holds a favorable NAIC Complaint Index Score of 0.50, which means there are notably fewer customer complaints for annuities against the carrier than expected given its market presence.

Pros and Cons of Lincoln Financial

Lincoln Financial is a strong annuity provider, but there are both pros and cons to working with the company. Your exact needs will dictate whether a Lincoln Financial annuity makes sense for you.

Pros
  • Wide number of annuity options offered
  • High customer satisfaction scores

One big pro of Lincoln Financial is the sheer number of products offered through the carrier. With fixed, immediate, fixed index and variable options all available, there’s something for nearly every type of customer.

Lincoln Financial also doesn’t sacrifice quality for its large menu of offerings, selling many types of effective products.

Lincoln Financial stands out due to its exceptional customer satisfaction scores. Successfully navigating customer satisfaction across a diverse range of products and customer profiles is no small feat for a major company, yet Lincoln Financial excels in this regard.

Cons
  • Lack of publicly available product information for research

The only noteworthy drawback for Lincoln Financial is the lack of publicly available information on its annuity products.

Some companies have in-depth brochures for clients doing their own research. Lincoln Financial’s website does not provide overly detailed information on its products, which may be a drawback for customers who want to gather information on their own before speaking with an agent or advisor.

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Last Modified: June 21, 2024

5 Cited Research Articles

  1. J.D. Power. (2023, October 12). Satisfaction With Life Insurance and Annuity Products Climbs as Customers Embrace Digital, J.D. Power Finds. Retrieved from https://www.jdpower.com/business/press-releases/2023-us-individual-life-insurance-annuity-studies
  2. J.D. Power. (2022, October 13). Both Life Insurance and Annuity Customer Satisfaction Decline as Pandemic Fears Wane, J.D. Power Finds. Retrieved from https://www.jdpower.com/business/press-releases/2022-us-individual-life-insurance-individual-annuity-studies
  3. Lincoln Financial. (n.d.). Family of Companies. Retrieved from https://www.lincolnfinancial.com/public/aboutus/companyoverview/whoweare/familyofcompanies
  4. Lincoln Financial. (n.d.). Fixed Annuities. Retrieved from https://www.lincolnfinancial.com/public/individuals/products/annuities/fixedannuities
  5. Lincoln Financial. (n.d.). Fixed Index Annuities. Retrieved from https://www.lincolnfinancial.com/public/individuals/products/annuities/fixedindexedannuities