Lincoln Launches FIA With 7-Year Surrender Schedule
December 12, 2017 by Cyril Tuohy
Contracting sales of fixed indexed annuities (FIAs) in the third quarter weren’t enough to deter Lincoln Financial from expanding its FIA product line, a company executive said.
Lincoln’s latest addition to the FIA market, Covered Choice 7, delivers immediate or deferred income.
The new product also offers a seven-year surrender schedule and will be distributed through wirehouses, banks and independent agents.
Third-quarter indexed annuity sales fell 10.5 percent to $12.79 billion over the year-ago period, Wink’s Sales & Market Report said.