CUSIP Number:
53404X322
CUSIP Name:
5 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The Lincoln Covered Choice Advisory 5 is a single premium deferred indexed annuity with a market value adjustment. The minimum single premium is $10,000 for qualified and non-qualified money. 10% of the accumulated value may be withdrawn each policy year without a surrender charge or MVA. Systematic Withdrawal is an option. There are five years of surrender charges which vary by state and are waived in the event of annuitization after the 2nd policy year (in FL, after the first policy year), death, entrance into a nursing home or special nursing unit of a hospital beginning after the first policy anniversary (subject to the terms and conditions of the rider), or diagnosis of a terminal illness after the first policy anniversary (subject to terms and conditions of the rider). Withdrawals may be subject to Federal/State income tax, and if taken prior to age 59 1/2, a 10% Federal Penalty tax. Guarantees based on the claims-paying ability of the insurer. Products/features may not be available in all states. This is an annuity contract issued by an insurance company and not securities or bank products protected by the FDIC.
Last Modified:
01 Sep 2025 08:24