Company Information
Company Name
Lincoln Financial
Product Name
Lincoln Financial MyGuarantee Plus 10
Description
The Lincoln Financial MYGuarantee Plus 10 is a single premium, fixed annuity with a ten-year rate guarantee. After ten 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 with one-year fixed rates declared annually.
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. Free nursing home and terminal illness riders are included.
AM Best Rating
A Excellent (3rd of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
10% / 10%
Rates
| 5.25% | $100,000 | — | $2,000,000 |
| 3.70% | $10,000 | — | $99,999 |
Term
10 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%, 1%, 1%, 1%, 0%
What We Like About This Annuity
Offered from a strong A rated company with 10% free annual withdrawals. Contract does not automatically renew and there are no surrender charges at passing. Policy has a fair, decreasing surrender schedule.
Notable Features
At no cost, Nursing Home and Terminal Illness Riders are included. No surrender or MVA charges at death. Free systematic withdrawals are available in all years.
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.