Lincoln Financial
Fixed Annuity
Lincoln Financial Group, Philadelphia, has introduced its new single premium product, Lincoln MYGuarantee Plus deferred fixed annuity. The product is available for qualified (IRA and Roth IRA) and non-qualified money available for retail distribution to Managing General Agent (MGA) partner firms as well as Lincoln Financial Network.
This new retirement solution helps people secure their financial futures by offering a steady, tax-deferred fixed rate of return without equity risk. The annuity also offers interest rate guarantee periods for a specific number of years up to a full decade allowing clients to choose a time period suited to their financial goals.
Lincoln MYGuarantee Plus Fixed Annuity includes:
Growth -- The product provides guaranteed, predictable growth over a specific time period and clients can choose one of eight interest rate periods, ranging from three to 10 years.
Protection -- Should a client die before the annuity payments begin, the contract's accumulation value will be paid to the beneficiary they designate. Since some or all of the death benefit may be taxable to the beneficiary, a tax advisor should be consulted about possible tax implications.
Tax-Deferral -- The annuity offers tax-deferral enabling people to defer paying taxes until money is withdrawn, allowing assets to earn more.
Emergency Access to Assets -- In the event people need emergency access to cash, the product features access to income each year with a 10% withdrawal allowed, free of charge, before the interest guarantee period ends. If a withdrawal is made in excess of 10%, a surrender charge and market value adjustment (MVA) are applied. The MVA may be a positive or negative adjustment depending on the interest rates at the time of the withdrawal.
For more information, visit www.LincolnFinancial.com.
Symetra Life
Group Variable Annuity
Symetra Life Insurance Company, Bellevue, Wash., has launched Retirement Passport Group Variable Annuity for the 403(b)/457 market.
Retirement Passport was designed with schools and nonprofits in mind. The tax-deferred solution offers an array of competitively priced and professionally managed portfolio options from companies including American Funds, 1 Fidelity and Vanguard. It also gives participants access to funds that invest exclusively in socially and environmentally responsible companies. Passport's initial fund lineup includes 60 portfolio options from 13 well-known money managers.
Passport will be available to individuals through their employer -- a school district, university, hospital or other nonprofit organization. Product features include contribution minimums as low as $30; free annual withdrawals up to 10% of the participant account value per certificate year; and multiple retirement income options.
For more information, visit www.symetra.com.
