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
|
|---|---|
|
Term
|
5 Years |
|
Surrender schedule
|
9%8%7%6%5% |
|
Free withdrawal
|
10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
$10,000 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, IRA-Roth, 1035 Exchange, Stretch IRA, and NQ Stretch |
Brochure
|
Open brochure |
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 5-Year Fixed Account |
Fixed
|
4%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7.75%
Cap
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
7.35%
Performance triggered
|
| 5-Year Fixed Account |
Fixed
|
4.75%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year S&P 500 Performance Triggered |
Performance Triggered
Annual
|
8.75%
Performance triggered
|
| 5-Year Fixed Account (CA Only) |
Fixed
|
4%
Fixed
|
| 5-Year Fixed Account (CA Only) |
Fixed
|
4.75%
Fixed
|
| 1-Year S&P 500 Dual Performance Triggered |
Dual Performance Trigger (FIA)
Annual
|
6%
Performance triggered
|
| 1-Year S&P 500 Dual Performance Triggered |
Dual Performance Trigger (FIA)
Annual
|
7%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% |