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Best Guaranteed Annuity Rates
2-Year
5.70%
3-Year
6.25%
5-Year
6.30%
7-Year
6.00%
10-Year
5.80%

Lincoln Covered Choice 5 II

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Highlights

Lincoln Covered Choice 5 II fixed indexed annuity is a flexible premium deferred annuity that offers several features to help meet accumulation and income needs.

Scheduled maturity date 
The later of the 10th contract anniversary or the anniversary on or immediately following the annuitant’s 95th birthday. Maturity date may be changed to any date after the fifth contract year.
Available in states: AL, AK, AZ, AR, 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
8%8%7%6%5%
Free withdrawal
10%
Flexible premium Product Life
Market value adjustment
Return of premium
Launch date
01/11/2021
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 II is the right product for you.

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Premium Notes

Additional premiums
Up to $25,000 each contract year (minimum $50). Additional premiums are applied to the Fixed Account and can be moved during the reallocation period. Additions are allowed any time until the maturity date.
Maximum of $100,000 cumulative additional premiums. 

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Beginning in the first contract year, up to 10% of account value may be withdrawn each contract year without incurring charges.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
1-Year Fixed Account
Fixed
4% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
8% Cap
1-Year S&P 500 Performance Triggered
Performance Triggered
Annual
7.6% Performance triggered
1-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
8.9% Performance triggered
1-Year S&P 500 Dual Performance Triggered
Dual Performance Trigger (FIA)
Annual
6.25% Performance triggered
1-Year S&P 500 Dual Performance Triggered
Dual Performance Trigger (FIA)
Annual
7.65% Performance triggered

Surrender schedule

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

Riders

No Riders for Lincoln Covered Choice 5 II annuity.

Waivers

Nursing Home

Unavailable in states: MA

Allows access to accumulation value without surrender charge or MVA if certain conditions are met. 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.

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