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10-Year
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Lincoln Covered Choice 5

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Highlights

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
Type
 Fixed Index
Purpose Accumulation
Term
 5 Years
Surrender schedule
 9%8%7%6%5%
Free withdrawal
 10%
Market value adjustment
Return of premium
Launch date
 01/09/2017
Minimum contribution
 $10,000
Maximum contribution
 $2,000,000
Max Age Qualified
 85
Types of funds
 Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, 1035 Exchange, Stretch IRA, and NQ Stretch
Brochure
 Open brochure

Find out if the Lincoln Covered Choice 5 is the right product for you.

Premium Notes

Minimum single premium
$10,000
Maximum single premium (without prior Home Office approval) 
$2,000,000 

Withdrawal Provisions

Partial surrenders
Beginning in the first contract year, up to 10% of account value may be withdrawn each contract year without incurring charges.

Market Value Adjustment (MVA)
A positive or negative adjustment based on the current interest rate environment at the time of the surrender. The MVA does not apply to withdrawals after the surrender charge period, the 10% annual free withdrawal, the death benefit or annuitized contracts.

Allocation Accounts

Name Type Rates
5-Year Fixed Account
Fixed
3.8% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
7.5% Cap
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
7.1% Performance triggered
5-Year Fixed Account
Fixed
4.5% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
8.75% Cap
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
8.5% Performance triggered
5-Year Fixed Account (CA Only)
Fixed
3.8% Fixed
5-Year Fixed Account (CA Only)
Fixed
4.5% Fixed
1-Year S&P 500 Dual Trigger
Dual Performance Trigger (FIA)
Annual
6% Performance triggered
1-Year S&P 500 Dual Trigger
Dual Performance Trigger (FIA)
Annual
7% Performance triggered

Surrender schedule

Year 1 2 3 4 5
Penalty 9% 8% 7% 6% 5%

Riders

No Riders for Lincoln Covered Choice 5 annuity.

Waivers

Nursing Home

Unavailable in states: MA

Allows access to accumulation value without surrender charge or MVA if certain conditions are met. Please see the Disclosure Statement for additional details. The nursing home waiver does not include home health care.

Terminal Illness

Unavailable in states: MA

Allows access to accumulation value without surrender charge or MVA if certain conditions are met. Please see the Disclosure Statement for additional details.

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