Company Information
Company Name
Lincoln Financial
Product Name
Lincoln Financial MYGuarantee Plus 7
Description
The MYGuarantee Plus 7 is a single premium, fixed annuity with a seven-year rate guarantee. After seven years, owners can withdraw, transfer, or reinvest their full account value. If no action is taken, the account does not automatically renew. It remains completely liquid in annuity form and subsequent one year rates are declared.
Two rate bands are available. The highest rate is for deposits above $100K. Lower rates are credited for amounts between $10K – $99.9K. Qualified and non-qualified funds are accepted. There are no surrender penalties at death.
AM Best Rating
A
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
10% / 10%
Rate
4.85%
Term
7 Years
Minimum Investment
$ 100,000
Maximum Investment
$2,000,000 without prior approval
Maximum Age
85
Surrender Schedule
7%, 7%, 6%, 5%, 4%, 3%, 2%, 0%
What We Like About This Annuity
Offered from a well-capitalized A rated carrier. Free 10% withdrawals are available in all years. Policy does not automatically renew for a new term.
Notable Features
At no cost, Nursing Home and Terminal Illness Riders are included. No surrender or MVA charges at death. Free systematic withdrawals.
Other Popular Products
Lincoln Financial is well known for fixed annuities for growth and income. Their MoneyGuard long term care (linked with life insurance) is a very popular hybrid LTC plan.
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About Lincoln Financial Group
For over 110 years, Lincoln Financial Group has served their customers with integrity and dependability. This A rated carrier has over $108 billion under management.
They are domiciled in Radnor, Pennsylvania and specialize in life insurance, annuities, and long term care insurance. They also offer retirement plans and employee benefits. Their vision is to pursue excellence as one team while winning for customers and shareholders.