CUSIP Number:
53423F302
CUSIP Name:
5 Year Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
22 Feb 2021
Close Date:
CUSIP Note:
Scrap Book:
The Lincoln Covered Choice 5 II is a flexible premium deferred indexed annuity with a market value adjustment. The minimum single premium is $10,000 for qualified and non-qualified money. Max additional contributions of $25,000 available each contract year (cumulative limit is $100,000) These additional premiums are applied only to fixed account and can be moved during the reallocation period of 25 days after each contract anniversary date. 10% of the account value may be withdrawn each policy year without a surrender charge or MVA.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 and are waived in the event of annuitization after the 5th policy year (in FL, after the first policy year), death, entrance into a nursing home, special nursing unit of a hospital 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 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:
01 Sep 2025 07:20