Philadelphia based financial services company,
Lincoln National Corporation
), marketed as Lincoln Financial Group has recently introduced
the company's first deferred income annuity (DIA) named Lincoln
Deferred Income Solutions.
Lincoln Deferred Income Solutions is an alternative income tool
specifically designed to cater to the typical retirement risks
faced by individuals. The current scenario is such that economic
events, and increased longevity and shift in retirements have led
to the demand for a robust retirement portfolio so that
individuals are protected by a guaranteed income.
Lincoln Deferred Income Solutions satisfies this demand by
targeting individuals who need income at a later date. The
Lincoln Deferred Income Solutions ascertains their income and
allows them to adjust the income plan if necessary.
Lincoln Deferred Income Solutions allows its clients to decide
when they wish to begin to receive income payments during the
deferral phase of the contract. Furthermore, another flexibility
provided by the Lincoln Deferred Income Solutions is that during
the income phase, clients can choose to receive six months'
The above flexibilities are aimed to assist the clients in
sketching out their future income requirements and cover
unexpected expenses when other sources of income have been
exhausted. The clients' heirs are also facilitated through
inheritances as Lincoln Deferred Income Solutions also provides
death benefit protection at the deferral and income phases.
Currently, the product is available in many states in Lincoln's
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At present, the deferred income market is flourishing and thus
provides ample opportunity for the company's top line growth. As
per Life Insurance and Market Research Association (LIMRA),
during the second quarter of 2013, the industry-wide sales of DIA
increased 155% year over year. The launch of Lincoln Deferred
Income Solutions aims to tap this opportunity and thereby enhance
the annuity portfolio of the company.
Lincoln currently carries a Zacks Rank #2 (Buy). Other financial
services providers that carry the same Zacks Rank are
China Life Insurance Co. Ltd.
StanCorp Financial Group Inc.
Health Insurance Innovations Inc