Lincoln Financial has existed for over a century, and the company is consistently considered as one of the leading life and health insurers in the United States based on revenues.
Having started in Fort Wayne, Indiana in 1905, Lincoln Financial is now one of the top providers of life insurance in the U.S. The company is also a leading provider of annuities and group disability coverage.
The annuities offered by Lincoln National include fixed annuities, fixed indexed annuities and variable annuities.
The Lincoln National Corporation is a publicly listed company on the New York Stock Exchange.
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Variable annuity sales in the United States increased 9.7 percent to total $34 billion during the third quarter of 2010.
Variable annuity revenue figures continue to be concentrated among a handful of leading companies:
The total amount of variable annuity sales in the first 9 months of 2010 is $102.8 billion. Variable annuity assets under management total $1.41 trillion.
As indicated above, the top 5 insurance companies comprise almost 55 percent of total sales.
LIMRA, an industry trade group, also indicated that 89 percent of variable annuity sales are accompanied by a guaranteed living benefit rider.
Source: Trading Markets
This is not to be confused with 401k or defined contribution plans that offer an annuity option within their plans or an annuity option outside of the plans to participants who are retiring or leaving the company.
In fact, most of the group annuity wrappers provide no ability to annuitize.
The practice is especially common among 401k plans offered by smaller employers.
There are tax benefits for the insurance companies providing the products, but very few benefits for the plan participants.
Very high fees and surrender charges are among the negatives that accompany this approach to offering a 401k plan.
While efforts are made to keep information on this page accurate and updated, the information shown on this page may be variable or out of date. Always check the issuing company's website or other public data listings for the latest information applicable to you as actual information may vary.