Lincoln National Corporation, a holding company, operates multiple insurance and retirement businesses. The company sells a range of wealth protection, accumulation and retirement income products and solutions. The company offers fixed and indexed annuities, variable annuities, universal life insurance (UL), variable universal life insurance (VUL), linked-benefit UL, term life insurance, indexed universal life insurance (IUL), employer-sponsored retirement plans and services, and group life, disability and dental. Segments The company provides products and services through four segments, including Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company also has Other Operations, which includes the financial data for operations that are not directly related to the business segments. The results of Lincoln Financial Network (LFN) and Lincoln Financial Distributors (LFD), the company’s retail and wholesale distributors, respectively, are included in the segments for which they distribute products. Annuities segment The Annuities segment provides tax-deferred investment growth and lifetime income opportunities for its clients by offering fixed (including indexed) and variable annuities. Variable Annuities A variable annuity provides the contract holder the ability to direct the investment of premium deposits into one or more variable sub-accounts (variable funds) offered through the product (variable portion) and into a fixed account with a guaranteed return (fixed portion). The value of the variable portion of the contract holder’s account varies with the performance of the underlying variable funds chosen by the contract holder. The company’s variable funds include the Managed Risk Strategies fund options, a series of risk-managed funds that embed volatility management and, with some funds, capital protection strategies, inside the funds themselves. The company offers guaranteed benefit riders with certain of its variable annuity products, such as a guaranteed death benefit (GDB), a guaranteed withdrawal benefit (GWB), a guaranteed income benefit (GIB) and a combination of such benefits. In 2015, the company offered product riders, including the Lincoln Lifetime Income Advantage 2.0 (Managed Risk) and Lincoln Market Select Advantage riders, which are hybrid benefit riders combining aspects of GWB and GIB. These benefit riders allow the contract holder the ability to take income at a maximum rate of up to 5% of the guaranteed amount when they are above the lifetime income age or income through i4LIFE Advantage with the GIB. The company also offers the i4LIFE Advantage, i4LIFE Advantage Guaranteed Income Benefit (Managed Risk) and i4LIFE Advantage Guaranteed Income Benefit riders. These riders, which are covered by the U.S. patents, allow variable annuity contract holders access and control during a portion of the income distribution phase of their contract. The company also offers the 4LATER Advantage (Managed Risk) rider. This rider provides a minimum income base used to determine the GIB floor when a client begins income payments under i4LIFE Advantage Guaranteed Income Benefit (Managed Risk). Fixed Annuities The company’s fixed annuity product offerings, as of December 31, 2015, consisted of traditional fixed-rate and fixed indexed deferred annuities, as well as fixed-rate immediate and deferred income annuities with various payment options, including lifetime incomes. Fixed annuity contracts are general account obligations. The company offers single and flexible premium fixed deferred annuities. Single premium fixed deferred annuities are contracts that allow only a single premium to be paid. Flexible premium fixed deferred annuities are contracts that allow multiple premium payments on either a scheduled or non-scheduled basis. Distribution: The Annuities segment distributes its individual fixed and variable annuity products through LFD. LFD’s distribution channels give the Annuities segment access to its target markets. LFD distributes the segment’s products to financial intermediaries, including LFN. The financial intermediaries includ
lincoln national corp (LNC:New York)
150 North Radnor Chester Road
Radnor, PA 19087
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