Fixed index annuity review and rates
Lincoln Covered Choice 5
Lincoln Covered Choice 5 is a single premium fixed indexed annuity with a five-year surrender charge schedule. It protects your principal, guarantees a fixed interest rate for the first five years and has the potential to credit your account with interest based on the performance of the S&P 500 Index.
Available in states:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 5-Year Fixed Account |
Fixed
|
4.1%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8%
Cap
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
7%
Performance triggered
|
| 5-Year Fixed Account |
Fixed
|
4.35%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
7.5%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% |
Lincoln National Life Insurance Company
Founded:
1905
A.M. Best:
A
Fitch:
A+
S&P:
A
Moody's:
A1
Brochure
Free withdrawal
10%
Surrender schedule
5 years
Return of premium
Market value adjustment
Minimum contribution
$10,000
Types of funds
Non-Qualified, IRA, IRA Rollover, IRA-Roth, Stretch IRA, and NQ Stretch