CUSIP Number:
53422F428
CUSIP Name:
6 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
02 Apr 2007
Close Date:
CUSIP Note:
Scrap Book:
The Lincoln New Directions 6 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 The minimum single premium is $10,000 for qualified and non-qualified money. 10% of the accumulated value may be withdrawn each contract year without a surrender charge or MVA. Systematic Withdrawal is an option. There are six years of surrender charges (9,8,7,6,4.75,3.5) which are waived in the event of annuitization after the 2nd contract year (in FL, after the first contract year), death, entrance into a nursing home, special nursing unit of a hospital or diagnosis of a terminal illness after the first contract 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 claims paying ability of 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:
22 Sep 2023 06:52