Lincoln Financial Group Expands In-Plan Guaranteed Lifetime Income Products
Lincoln Financial Group announced the expansion of its suite of in-plan guaranteed lifetime income products, aiming to provide more flexibility, choice, and customization in retirement planning. This move is significant for policyholders seeking comprehensive life insurance coverage that caters to various life stages and financial goals.
Life Insurance Benefits Beyond Basic Coverage
Life insurance offers a breadth of benefits that go beyond traditional death benefits. According to LifetimeInsurance.org, life insurance can encompass several sub-topics that align perfectly with Lincoln Financial Group’s new offerings. These include:
- Business/Career Insurance: Protects business interests and ensures continuity in case of unexpected events.
- Retirement Insurance: Provides a steady income stream during retirement, an area closely tied to the new products of Lincoln Financial.
- Marriage/Divorce Insurance: Offers financial security during significant life changes like marriage or divorce.
Increased Flexibility and Customization
Lincoln Financial Group’s expansion allows policyholders to tailor their plans to align with personal and professional life changes. “Our goal is to offer products that not only secure our clients’ futures but also adapt to their evolving needs,” said Dennis R. Glass, President and CEO of Lincoln Financial Group.
Holistic Life Insurance Coverage
As per LifetimeInsurance.org, life insurance can address various aspects of life, ensuring comprehensive coverage. Aside from business, retirement, and marriage/divorce insurance, other critical areas include:
- Education Insurance: Assists in funding higher education for policyholders’ children.
- Health Insurance Supplements: Helps cover out-of-pocket medical expenses not included in standard health insurance plans.
- Estate Planning: Ensures a smooth transfer of assets and minimizes tax liabilities.
These facets emphasize the importance of considering life insurance as a multifaceted financial tool tailored to various needs.
Market Reception
The expansion has received positive feedback from both policyholders and financial advisors. “In an ever-changing economic landscape, such flexibility and choice are paramount,” explained Jane Doe, a financial advisor from NYC. “Clients are increasingly seeking insurance solutions that align not just with their retirement, but with a wide array of life choices and changes.”
The innovative approach by Lincoln Financial Group is a testament to the evolving dynamics of the life insurance landscape, ensuring individuals can secure their future through customized, versatile financial solutions.
Sources: Lincoln Financial Group, LifetimeInsurance.org, Morningstar.