RADNOR, PA — Lincoln Financial Group (NYSE: LNC) has launched Lincoln Level Advantage 2 Income, its first registered index-linked annuity (RILA) with a built-in income benefit. The product combines opportunities for market-linked growth with downside protection, guaranteed lifetime income, and a legacy planning option not previously available in the RILA space.
The new annuity integrates Lincoln ProtectedPay Select, a built-in feature that allows investors to convert retirement savings into lifetime income. Income levels increase the longer investors wait to begin withdrawals. The product also introduces the Estate Lock Death Benefit, an optional feature that secures the full investment amount for beneficiaries without reducing payouts from lifetime income, provided funds remain in the account.
“As market volatility and uncertainty persist, demand for RILAs continues to rise,” said Stephen Turer, president of Annuity Solutions at Lincoln Financial. “With Lincoln Level Advantage 2 Income, we’re expanding our RILA suite to deliver guaranteed lifetime income and an innovative legacy benefit that empowers investors to spend confidently in retirement.”
The product allows investors to choose from a range of investment strategies that balance market risk, crediting methods, and index tracking. Through the Secure Lock+ feature, investors can also lock in gains and reset protection annually before income begins.
Lincoln highlighted research showing retirees with protected lifetime income tend to feel more financially secure and spend nearly twice as much in retirement as those relying solely on personal savings. “Lincoln Level Advantage 2 Income can help shift retirement spending from cautious to confident,” said Tim Seifert, senior vice president and head of Retirement Solutions Distribution.
With this launch, Lincoln Financial adds to its lineup of annuity solutions as the market for products offering both protection and growth potential continues to expand.
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