CUSIP Number:
53423L333
CUSIP Name:
5 & 7 Year Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
15 Jul 2024
Close Date:
CUSIP Note:
Scrap Book:
The Lincoln MYGuaranteePlus Class is a single premium deferred annuity with a market value adjustment. The minimum single premium amount is $10,000 non-qualified and qualified. 10% of the accumulated value may be withdrawn annually. Surrender charges differ on rate term chosen and are waived in the event of annuitization, death, entrance into a nursing home / special nursing unit of a hospital, or diagnosis of a terminal illness. Annuitization will start after the 5th contract year in most states (in Florida after 1st year). The Guaranteed Minimum Cash Surrender Value will be equal to 87.5%. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Early surrender charges may also apply. 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 a bank product protected by the FDIC.
Last Modified:
10 Jul 2024 08:37