Prospectus 1
|
Single
Life |
Joint
Life |
Current Initial Annual Charge |
|
|
Single Life PAI Rate |
Joint Life PAI Rate | ||
Age |
PAI Rate |
Age |
PAI Rate |
59 – 64 |
4.25% |
59 – 64 |
4.10% |
65 – 69 |
6.00% |
65 – 69 |
5.50% |
70 – 74 |
6.15% |
70 – 74 |
5.60% |
75+ |
6.30% |
75+ |
5.85% |
Single Life PAI Rate |
Joint Life PAI Rate | ||
Age |
PAI Rate |
Age |
PAI Rate |
59 – 64 |
4.75% |
59 – 64 |
4.35% |
65 – 69 |
6.10% |
65 – 69 |
5.60% |
70 – 74 |
6.30% |
70 – 74 |
5.85% |
75+ |
6.55% |
75+ |
6.10% |
TABLE A |
TABLE B | ||||
Age |
Single Life
Option |
Joint Life
Option |
Age |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.70% |
5.20% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
7.65% |
7.10% |
65 – 69 |
4.50% |
4.25% |
70 – 74 |
7.90% |
7.15% |
70 – 74 |
4.50% |
4.25% |
75+ |
8.00% |
7.40% |
75+ |
4.50% |
4.25% |
TABLE A |
TABLE B | ||||
Age |
Single Life
Option |
Joint Life
Option |
Age |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.65% |
5.25% |
59 – 64 |
3.50% |
3.25% |
65 – 69 |
7.50% |
7.10% |
65 – 69 |
5.00% |
4.50% |
70 – 74 |
7.75% |
7.15% |
70 – 74 |
5.00% |
4.50% |
75+ |
7.85% |
7.50% |
75+ |
5.00% |
4.50% |
TABLE A |
TABLE B | ||||
Age |
Single Life
Option |
Joint Life
Option |
Age |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.70% |
5.20% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
8.30% |
7.90% |
65 – 69 |
3.50% |
3.25% |
70 – 74 |
8.55% |
8.10% |
70 – 74 |
3.50% |
3.25% |
75+ |
8.80% |
8.30% |
75+ |
3.50% |
3.25% |
TABLE A |
TABLE B | ||||
Age |
Single Life
Option |
Joint Life
Option |
Age |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.65% |
5.25% |
59 – 64 |
3.50% |
3.25% |
65 – 69 |
8.50% |
8.10% |
65 – 69 |
3.50% |
3.25% |
70 – 74 |
8.75% |
8.30% |
70 – 74 |
3.50% |
3.25% |
75+ |
9.00% |
8.50% |
75+ |
3.50% |
3.25% |
i4LIFE® Advantage Select Guaranteed Income Benefit for Contractowners who transition from Lincoln
ProtectedPay Select Core® |
Single
Life |
Joint
Life |
Current Initial Annual Charge |
|
|
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) for Contractowners who transition from Lin-
coln ProtectedPay Secure Core® |
Single
Life |
Joint
Life |
Current Initial Annual Charge |
|
|
|
|
|
Single Life GIB % |
Joint Life GIB % | ||
Age |
GIB % |
Age |
GIB % |
Under 40 |
2.15% |
Under 40 |
2.15% |
40 – 54 |
2.50% |
40 – 54 |
2.25% |
55 – 58 |
2.50% |
55 – 58 |
2.25% |
59 – 64 |
3.25% |
59 – 64 |
2.75% |
65 – 69 |
4.25% |
65 – 69 |
3.25% |
70 – 74 |
4.50% |
70 – 74 |
3.75% |
75 – 79 |
4.75% |
75 – 79 |
4.00% |
80+ |
4.75% |
80+ |
4.25% |
Single Life GIB % |
Joint Life GIB % | ||
Age |
GIB % |
Age |
GIB % |
Under 40 |
2.25% |
Under 40 |
2.25% |
40 – 54 |
2.75% |
40 – 54 |
2.50% |
55 – 58 |
3.00% |
55 – 58 |
2.75% |
59 – 64 |
3.75% |
59 – 64 |
3.25% |
65 – 69 |
4.75% |
65 – 69 |
4.00% |
70 – 74 |
5.25% |
70 – 74 |
4.25% |
75 – 79 |
5.50% |
75 – 79 |
4.50% |
80+ |
5.50% |
80+ |
4.75% |
|
Single
Life |
Joint
Life |
Current Initial Annual Charge |
|
|
Single Life PAI Rate |
Joint Life PAI Rate | ||
Age |
PAI Rate |
Age |
PAI Rate |
55 – 58 |
2.50% |
55 – 58 |
2.25% |
59 – 64 |
4.35% |
59 – 64 |
3.85% |
65 – 69 |
5.50% |
65 – 69 |
4.75% |
70 – 74 |
5.50% |
70 – 74 |
4.85% |
75+ |
5.65% |
75+ |
5.15% |
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) for Contractowners who transition from Lin-
coln Lifetime IncomeSM Advantage 2.0 (Managed Risk) |
Single
Life |
Joint
Life |
Current Initial Annual Charge |
|
|
Single Life GIB % |
Joint Life GIB % | ||
Age |
GIB % |
Age |
GIB % |
Under 40 |
2.00% |
Under 40 |
2.00% |
40 – 54 |
2.50% |
40 – 54 |
2.20% |
55 – 58 |
2.50% |
55 – 58 |
2.20% |
Single Life GIB % |
Joint Life GIB % | ||
Age |
GIB % |
Age |
GIB % |
59 – 64 |
3.25% |
59 – 64 |
2.75% |
65 – 69 |
4.25% |
65 – 69 |
3.50% |
70 – 74 |
4.75% |
70 – 74 |
3.75% |
75 – 79 |
5.00% |
75 – 79 |
4.00% |
80+ |
5.00% |
80+ |
4.25% |
|
Single
Life |
Joint
Life |
Current Initial Annual Charge |
|
|
Single Life PAI Rate |
Joint Life PAI Rate | ||
Age |
PAI Rate |
Age |
PAI Rate |
55 – 58 |
2.25% |
55 – 58 |
2.00% |
59 – 64 |
3.75% |
59 – 64 |
3.25% |
65 – 69 |
5.00% |
65 – 69 |
4.35% |
70 – 74 |
5.10% |
70 – 74 |
4.45% |
75+ |
5.25% |
75+ |
4.75% |
i4LIFE® Advantage Select Guaranteed Income Benefit for Contractowners who transition from Lincoln Market
Select® Advantage |
Single
Life |
Joint
Life |
Current Initial Annual Charge |
|
|
Single Life GIB % |
Joint Life GIB % | ||
Age |
GIB % |
Age |
GIB % |
Under 40 |
2.00% |
Under 40 |
2.00% |
40-54 |
2.25% |
40-54 |
2.00% |
55-58 |
2.25% |
55-58 |
2.00% |
Single Life GIB % |
Joint Life GIB % | ||
Age |
GIB % |
Age |
GIB % |
59-64 |
3.00% |
59-64 |
2.50% |
65-69 |
3.75% |
65-69 |
2.75% |
70-74 |
4.00% |
70-74 |
3.25% |
75-79 |
4.25% |
75-79 |
3.50% |
80+ |
4.25% |
80+ |
3.75% |
|
Single
Life |
Joint
Life |
Current Initial Annual Charge |
|
|
TABLE A |
TABLE B | ||||
Age |
Single Life
Option |
Joint Life
Option |
Age |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.00% |
4.50% |
59 – 64 |
3.00% |
2.75% |
65 – 69 |
7.50% |
7.00% |
65 – 69 |
3.00% |
2.75% |
70 – 74 |
8.00% |
7.50% |
70 – 74 |
3.00% |
2.75% |
75 – 79 |
8.00% |
7.50% |
75 – 79 |
3.00% |
2.75% |
80 + |
8.00% |
7.50% |
80 + |
3.00% |
2.75% |
OPTION 1 | ||||
TABLE A |
TABLE B | |||
Age |
Single Life
Option |
Joint Life
Option |
Age |
Single Life |
70+ |
6.25% |
N/A* |
70+ |
5.00% |
OPTION 2 | ||||
TABLE A |
TABLE B | |||
Age |
Single Life
Option |
Joint Life
Option |
Age |
Single Life |
70+ |
7.00% |
N/A* |
70+ |
4.00% |
Age at Issue 0 – 65 |
|
|
Age at Issue 66 – 80 |
|
|
Age |
PAI Rate |
0 – 54 |
4.50% |
55 – 58 |
5.00% |
59 – 69 |
5.50% |
70+ |
6.00% |
|
Single
Life |
Joint
Life |
Current Initial Annual Charge |
|
|
i4LIFE® Advantage Select Guaranteed Income Benefit for Contractowners who transition from 4LATER®
Select Advantage |
Single
Life |
Joint
Life |
Current Initial Annual Charge |
|
|
Single Life GIB % |
Joint Life GIB % | ||
Age |
GIB % |
Age |
GIB % |
Under 40 |
2.15% |
Under 40 |
2.15% |
40-54 |
2.50% |
40-54 |
2.25% |
55-58 |
2.50% |
55-58 |
2.25% |
59-64 |
3.25% |
59-64 |
2.75% |
65-69 |
4.25% |
65-69 |
3.25% |
70-74 |
4.50% |
70-74 |
3.75% |
75-79 |
4.75% |
75-79 |
4.00% |
80+ |
4.75% |
80+ |
4.25% |
|
Single Life |
Joint Life |
Current Initial Annual Charge* |
|
|
Single Life GIB Percentage |
Joint Life GIB Percentage | ||
Age |
GIB Percentage |
Age |
GIB Percentage |
Under 40 |
2.25% |
Under 40 |
2.25% |
40 – 54 |
2.75% |
40 – 54 |
2.50% |
55 – 58 |
3.00% |
55 – 58 |
2.75% |
59 – 64 |
3.75% |
59 – 64 |
3.25% |
65 – 69 |
4.75% |
65 – 69 |
4.00% |
70 – 74 |
5.25% |
70 – 74 |
4.25% |
75 – 79 |
5.50% |
75 – 79 |
4.50% |
80+ |
5.50% |
80+ |
4.75% |
Item |
Page |
4 | |
7 | |
9 | |
11 | |
15 | |
17 | |
19 | |
26 | |
27 | |
29 | |
32 | |
33 | |
39 | |
44 | |
45 | |
52 | |
57 | |
62 | |
68 | |
70 | |
73 | |
74 | |
81 | |
81 | |
81 | |
81 | |
81 | |
82 | |
A-1 | |
B-1 | |
C-1 | |
D-1 | |
E-1 | |
F-1 | |
G-1 |
|
FEES AND EXPENSES |
Location in
Prospectus |
Charges for Early
Withdrawals |
There are no surrender charges associated with this Contract. |
•N/A |
Transaction
Charges |
A front-end load, or sales charge, of up to 5.50% will be applied to all initial and
subsequent Gross Purchase Payments that you make. The sales charge is based on the
Contractowner's investment amount at the time each Gross Purchase Payment is made. |
•Charges and
Other
Deductions |
Ongoing Fees and
Expenses (annual
charges) |
Minimum and Maximum Annual Fee Table. The table below describes the fees and
expenses that you may pay each year, depending on the options you choose. Please
refer to your contract specifications page for information about the specific fees you will
pay each year based on the options you have elected. For contracts purchased as part of
a Fee-Based Financial Plan, these charges do not reflect any advisory fees paid to a
financial intermediary from Contract Value or other assets of the Contractowner. If such
charges were reflected, the ongoing fees and expenses would be higher. |
•Fee Tables •Examples •Charges and
Other
Deductions | ||
Annual Fee |
Minimum |
Maximum | ||
Base Contract – Account Value Death
Benefit |
|
| ||
Base Contract – Guarantee of Principal
Death Benefit |
|
| ||
Base Contract – Enhanced Guaranteed
Minimum Death Benefit |
|
| ||
Base Contract – Estate Enhancement
Benefit |
|
| ||
Investment options (fund fees and
expenses) |
|
| ||
Optional benefits available for an
additional charge (for a single optional
benefit, if elected) |
|
| ||
1 | ||||
2 | ||||
Lowest and Highest Annual Cost Table. Because your Contract is customizable, the
choices you make affect how much you will pay. To help you understand the cost of
owning your Contract, the following table shows the lowest and highest cost you could
pay each year. This estimate assumes that you do not take withdrawals from the
Contract. |
|
Lowest Annual Cost: $ |
Highest Annual Cost: $ |
| |
|
Assumes: |
Assumes: |
| |
|
•Investment of $100,000 •5% annual appreciation •Least expensive fund fees and
expenses •No optional benefits •No additional Purchase Payments,
transfers, or withdrawals •No sales charges or advisory fees |
•Investment of $100,000 •5% annual appreciation •Most expensive combination of
optional benefits, fund fees and
expenses •No additional Purchase Payments,
transfers, or withdrawals •No sales charges or advisory fees |
|
|
RISKS |
Location in
Prospectus | ||
Risk of Loss |
• |
•Principal Risks •Investments of
the Variable
Annuity
Account | ||
Not a Short-Term
Investment |
|
•Principal Risks •Surrender and
Withdrawals •Fee Tables •Charges and
Other
Deductions •Living Benefit
Riders | ||
Risks Associated
with Investment
Options |
|
•Principal Risks •Investments of
the Variable
Annuity
Account | ||
Insurance
Company Risks |
•
|
•Principal Risks |
|
RESTRICTIONS |
Location in
Prospectus | ||
Investments |
|
•Principal Risks •Investments of
the Variable
Annuity
Account | ||
Optional Benefits |
|
•The Contracts •Living Benefit
Riders •Appendix B –
Investment
Requirements •Appendix C –
Discontinued
Death Benefit
and Living
Benefit Riders |
|
TAXES |
Location in
Prospectus | ||
Tax Implications |
|
•Federal Tax
Matters | ||
|
CONFLICTS OF INTEREST |
Location in
Prospectus | ||
Exchanges |
•
|
•The Contracts -
Replacement
of Existing
Insurance |
Sales charge (as a percentage of Gross Purchase Payments):1 |
|
We may also apply an Interest Adjustment to amounts being withdrawn, surrendered or transferred from a Guaranteed
Period of the fixed account (except for dollar cost averaging, cross-reinvestment, withdrawals up to the Maximum
Annual Withdrawal amount under Lincoln SmartSecurity® Advantage and Regular Income Payments under i4LIFE®
Advantage). See Fixed Side of the Contract. |
|
|
|
A-Share Contracts |
Contracts Purchased as Part of a
Fee-Based Financial Plan |
Administrative Expense (Annual Account Fee):1 |
|
$20 |
$ |
|
|
|
|
Base Contract Expenses (as a percentage of average Account
Value in the Subaccounts)2, 3, 4
|
|
|
|
Account Value Death Benefit |
|
0.75% |
|
Guarantee of Principal Death Benefit |
|
0.80% |
|
Enhanced Guaranteed Minimum Death Benefit (EGMDB) |
|
1.05% |
|
Estate Enhanced Benefit (EEB) |
|
1.25% |
N/A |
|
Single
Life |
Joint
Life |
Optional Benefit Expenses (Protected Lifetime Income Fees) |
|
|
Lincoln ProtectedPay® lifetime income suite:5, 6 |
|
|
Guaranteed Maximum Annual Charge |
|
|
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) riders elected on or after |
|
|
Guaranteed Maximum Annual Charge |
|
|
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) riders elected prior to |
|
|
Guaranteed Maximum Annual Charge |
|
|
Current Initial Annual Charge |
|
|
Lincoln Market Select® Advantage:5, 6
|
|
|
Guaranteed Maximum Annual Charge |
|
|
Lincoln Max 6 SelectSM Advantage:5, 6
|
|
|
Guaranteed Maximum Annual Charge |
|
|
|
|
|
Lincoln IRA Income PlusSM:5, 6
|
|
|
Guaranteed Maximum Annual Charge |
|
N/A |
Lincoln Wealth PassSM:8 |
|
|
Guaranteed Maximum Annual Charge |
|
|
Age at Issue 0 – 65 |
|
N/A |
Age at Issue 66 – 80 |
|
N/A |
4LATER® Select Advantage riders elected on or after |
|
|
Guaranteed Maximum Annual Charge |
|
|
4LATER® Select Advantage riders elected prior to |
|
|
Guaranteed Maximum Annual Charge |
|
|
Lincoln Lifetime IncomeSM Advantage 2.0:6, 10 |
|
|
Guaranteed Maximum Annual Charge |
|
|
Current Charge |
|
|
Lincoln Lifetime IncomeSM Advantage:11 |
|
|
Guaranteed Maximum Charge |
|
|
Current Charge |
|
|
Additional Charge for Lincoln Lifetime IncomeSM Advantage Plus |
|
|
Lincoln SmartSecurity® Advantage – 1 Year Automatic Step-up option:12 |
|
|
Guaranteed Maximum Charge |
|
|
Current Charge |
|
|
Lincoln SmartSecurity® Advantage – 5 Year Elective Step-up option:12 |
|
|
Guaranteed Maximum Charge |
|
N/A |
Current Charge |
|
N/A |
4LATER® Advantage:13 |
|
|
Guaranteed Maximum Charge |
|
N/A |
Current Charge |
|
N/A |
4LATER® Advantage (Managed Risk):7, 9 |
|
|
Guaranteed Maximum Charge |
|
|
Current Charge |
|
|
Lincoln Long-Term CareSM Advantage: |
|
|
Acceleration Benefit Charge:14 |
|
|
Guaranteed Maximum Charge Level Benefit or Growth Benefit |
|
N/A |
Current Charge Growth Benefit |
|
N/A |
Current Charge Level Benefit |
|
N/A |
Extension Benefit Charge:15 |
|
|
Guaranteed Maximum Charge |
N/A |
N/A |
Current Charge (Contractowners ages 70-74) |
|
N/A |
Optional Nonforfeiture Benefit Charge:16 |
|
|
Guaranteed Maximum Charge |
N/A |
N/A |
Current Charge (Contractowners ages 70-74) |
|
N/A |
i4LIFE® Advantage:17 |
|
|
Current Charge |
|
|
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) riders elected on or after |
|
|
Guaranteed Maximum Annual Charge |
|
|
i4LIFE® Advantage Select Guaranteed Income Benefit:18 |
|
|
Guaranteed Maximum Annual Charge |
|
|
Current Annual Charge |
|
|
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) riders elected prior to
i4LIFE® Advantage Guaranteed Income Benefit (version 4) riders:18 |
|
|
Guaranteed Maximum Annual Charge |
|
|
Current Annual Charge |
|
|
i4LIFE® Advantage Guaranteed Income Benefit (version 3):19 |
|
|
Guaranteed Maximum Annual Charge |
|
|
Current Annual Charge |
|
|
|
|
|
i4LIFE® Advantage Guaranteed Income Benefit (version 2):19 |
|
|
Guaranteed Maximum Annual Charge |
|
|
Current Annual Charge |
|
|
i4LIFE® Advantage Guaranteed Income Benefit (version 1):19 |
|
|
Current Annual Charge |
|
|
Annual Fund Expenses |
Minimum |
Maximum |
|
% |
% |
Expenses that are deducted from the fund assets, including
management fees, distribution and/or service (12b-1) fees, and other
expenses after any waivers or expense reimbursements.1 |
0.48
% |
1.58
% |
1 year |
3 years |
5 years |
10 years |
$ |
$ |
$ |
$ |
1 year |
3 years |
5 years |
10 years |
$ |
$ |
$ |
$ |
1 year |
3 years |
5 years |
10 years |
$ |
$ |
$ |
$ |
1 year |
3 years |
5 years |
10 years |
$ |
$ |
$ |
$ |
|
Account Value
Death Benefit |
Guarantee of
Principal Death
Benefit |
Enhanced Guaranteed
Minimum Death
Benefit (EGMDB) |
Estate Enhancement
Benefit (EEB)** |
Mortality and expense
risk charge |
0.65
% |
0.70
% |
0.95
% |
1.15
% |
Administrative charge |
0.10
% |
0.10
% |
0.10
% |
0.10
% |
Total base contract
expense* |
0.75
% |
0.80
% |
1.05
% |
1.25
% |
|
Account Value
Death Benefit |
Guarantee of
Principal Death
Benefit |
Enhanced Guaranteed
Minimum Death
Benefit (EGMDB) |
Mortality and expense risk charge |
0.10
% |
0.20
% |
0.45
% |
Administrative charge |
0.10
% |
0.10
% |
0.10
% |
Total base contract expense |
0.20
% |
0.30
% |
0.55
% |
Owner's Investment |
Sales Charge |
$0 - $49,999 |
5.50
% |
$50,000 - $99,999 |
4.50
% |
$100,000 - $249,999 |
3.50
% |
$250,000 - $499,999 |
2.50
% |
$500,000 - $999,999 |
2.00
% |
$1,000,000 or greater |
1.00
% |
If your Prior Rider is... |
you will transition to... |
Lincoln ProtectedPay Secure Core®
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) |
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) |
Lincoln ProtectedPay Select Core®
Lincoln Market Select® Advantage; or
4LATER® Select Advantage |
i4LIFE® Advantage Select Guaranteed Income Benefit |
1/1/24 Initial i4LIFE® Advantage Account Value |
$100,000 |
1/1/24 Protected Income Base as of the last Valuation Date under the Prior Rider |
$125,000 |
1/1/24 Initial Annual Charge for i4LIFE® Advantage Guaranteed Income Benefit ($125,000 x 1.50%). The protected
lifetime income fee for the Prior Rider is assessed against the Protected Income Base since it is larger than the
Account Value |
$1,875 |
1/2/24 Amount of initial i4LIFE® Advantage Regular Income Payment (an example of how the Regular Income Payment is
calculated is shown in the SAI) |
$5,173 |
1/2/24 Initial Guaranteed Income Benefit (4% x $125,000 Protected Income Base) |
$5,000 |
1/2/25 Recalculated Regular Income Payment (due to market gain in Account Value) |
$6,900 |
1/2/25 New Guaranteed Income Benefit (75% x $6,900 Regular Income Payment) |
$5,175 |
1/2/25 Annual Charge for i4LIFE® Advantage Guaranteed Income Benefit ($1,875 x ($5,175/$5,000)) Prior charge x [ratio
of increased Guaranteed Income Benefit to prior Guaranteed Income Benefit] |
$1,940.63 |
1/2/25 Annual Charge for i4LIFE® Advantage Guaranteed Income Benefit |
$1,940.63 |
1/2/26 Recalculated Regular Income Payment (due to Account Value increase) |
$7,400 |
1/2/26 New Guaranteed Income Benefit (75% x $7,400 Regular Income Payment) |
$5,550 |
Assume the Prior Rider fee rate increases from 1.50% to 1.60%. |
|
1/2/26 Annual Charge for i4LIFE® Advantage Guaranteed Income Benefit ($1,940.63 x ($5,550/$5,175) x
(1.60%/1.50%)) |
$2,220.01 |
Owner's Investment |
Sales Charge |
Under $25,000 |
5.75
% |
$25,000 - $49,999 |
5.00
% |
$50,000 - $99,999 |
4.50
% |
$100,000 - $249,999 |
3.50
% |
$250,000 - $499,999 |
2.50
% |
$500,000 - $749,999 |
2.00
% |
$750,000 - $999,999 |
1.50
% |
$1,000,000 or greater |
1.00
% |
Standard Benefits | |||
Name of Benefit |
Purpose |
Maximum Fee |
Brief Description of Restrictions /
Limitations |
|
|
•0.75% (A-Share
Contracts) •
purchased as part
of a Fee-Based
Financial Plan) |
•
|
|
|
•0.80% (A-Share
Contracts) •
purchased as part
of a Fee-Based
Financial Plan) |
•
|
Standard Benefits | |||
Name of Benefit |
Purpose |
Maximum Fee |
Brief Description of Restrictions /
Limitations |
|
|
•1.05% (A-Share
Contract) •
purchased as part
of a Fee-Based
Financial Plan) |
•
|
|
|
|
•
|
|
|
|
•
|
|
|
|
•
|
|
|
|
•
|
|
|
|
|
Optional Benefits – Available for Election | |||
Name of Benefit |
Purpose |
Maximum Fee |
Brief Description of Restrictions /
Limitations |
|
|
•
Joint Life Options (as a percentage of
the Protected
Income Base) |
|
|
|
•
Joint Life Options (as a percentage of the
Protected Income
Base) |
|
|
|
•i4LIFE® Advantage:
the base contract
expense for the
Death Benefit you
have elected. •Guaranteed Income
Benefit (Managed
Risk):
(single life option);
option) |
|
Optional Benefits – No Longer Available for Election1
| |||
Name of Benefit |
Purpose |
Maximum Fee |
Brief Description of Restrictions /
Limitations |
|
|
•
% (A-Share
contracts) •N/A (contracts
purchased as part
of a Fee-Based
Financial Plan) |
•
|
|
|
•
Option •
Option (as a percentage of
the Protected
Income Base) |
• |
|
|
•
(as a percentage of
Protected Income
Base) |
• |
|
|
•
(as a percentage of
Protected Income
Base) |
|
Optional Benefits – No Longer Available for Election1 | |||
Name of Benefit |
Purpose |
Maximum Fee |
Brief Description of Restrictions /
Limitations |
|
|
•
Option •
Option (as a percentage of
the Protected
Income Base) |
• |
|
|
•
Option •
Option (as a percentage of
the Protected
Income Base) |
• |
|
|
•
(as a percentage of
Protected Income
Base) |
• |
|
•
|
•
(as an annualized
percentage of
Protected Amount) |
• |
Optional Benefits – No Longer Available for Election1 | |||
Name of Benefit |
Purpose |
Maximum Fee |
Brief Description of Restrictions /
Limitations |
|
|
•
(as an annualized
percentage of the
Guaranteed
Amount) |
•
|
|
|
•
percentage of
Protected Income
Base) |
• |
|
•
|
•
(as a percentage of
Protected Income
Base) |
• |
Optional Benefits – No Longer Available for Election1 | |||
Name of Benefit |
Purpose |
Maximum Fee |
Brief Description of Restrictions /
Limitations |
|
•
|
•Select Guaranteed
Income Benefit:
option);
(joint life option) •Guaranteed Income
Benefit (Managed
Risk) riders elected
prior to
and Guaranteed
Income Benefit
(version 4) riders:
life option) •Guaranteed Income
Benefit (versions 1,
2 and 3):
(single/joint life
option) *The Guaranteed
Income Benefit
charge is in addition
to the i4LIFE®
Advantage charge
and your base
contract expense. |
•
|
|
|
•Acceleration Benefit
Charge: up to
of LTC Guaranteed
Amount •Extension Benefit
Charge: up to
Extension Benefit •Optional
Nonforfeiture
Benefit Charge: up
to
Extension Benefit. |
• |
upon death of: |
and... |
and... |
Death Benefit proceeds pass to: |
Contractowner |
There is a surviving joint owner |
The Annuitant is living or deceased |
Joint owner |
Contractowner |
There is no surviving joint owner |
The Annuitant is living or deceased |
Designated Beneficiary |
Contractowner |
There is no surviving joint owner
and the Beneficiary predeceases the
Contractowner |
The Annuitant is living or deceased |
Contractowner's estate |
upon death of: |
and... |
and... |
Death Benefit proceeds pass to: |
Annuitant |
The Contractowner is living |
There is no contingent Annuitant |
The youngest Contractowner
becomes the contingent Annuitant
and the Contract continues. The
Contractowner may waive* this
continuation and receive the Death
Benefit proceeds. |
Annuitant |
The Contractowner is living |
The contingent Annuitant is living |
Contingent Annuitant becomes the
Annuitant and the Contract
continues |
Annuitant |
The Contractowner is a trust or
other non-natural person** |
No contingent Annuitant allowed
with non-natural Contractowner |
Designated Beneficiary |
7/3/2024 Initial Deposit / Contract Value |
$10,000 |
7/3/2028 Contract Value |
$25,000 |
7/3/2029 Contract Value |
$23,500 |
|
Contract
Value |
Protected Income Base |
Enhancement Base |
Enhancement Value |
At issue |
$96,500
* |
$100,000 |
$100,000 |
$100,000 |
1st Benefit Year
anniversary |
$104,000 |
$106,000 |
$100,000 |
$106,000 |
2nd Benefit Year
anniversary |
$115,000 |
$115,000 |
$100,000 |
$112,000 |
3rd Benefit Year
anniversary |
$116,000 |
$118,000 |
$100,000 |
$118,000 |
Contract Value on the rider's effective date |
$200,000 |
Protected Income Base, Enhancement Base and Enhancement
Value on the rider's effective date |
$200,000 |
Initial Protected Annual Income amount on the rider's effective
date ($200,000 x 5%) |
$10,000 |
Contract Value six months after rider's effective date |
$210,000 |
Protected Income Base, Enhancement Base and Enhancement
Value six months after rider's effective date |
$200,000 |
Withdrawal six months after rider's effective date |
$10,000 |
Contract Value after withdrawal ($210,000 - $10,000) |
$200,000 |
Protected Income Base, Enhancement Base and Enhancement
Value after withdrawal ($200,000 - $0) |
$200,000 |
Contract Value on first Benefit Year anniversary |
$205,000 |
Protected Income Base first Benefit Year anniversary |
$205,000 |
Enhancement Value and Enhancement Base on first Benefit Year
anniversary |
$200,000 |
Protected Annual Income amount on first Benefit Year anniversary
($205,000 x 5%) |
$10,250 |
|
Contract
Value |
Protected Income Base |
At issue |
$47,750
* |
$50,000 |
1st Benefit Year anniversary |
$54,000 |
$54,000 |
2nd Benefit Year anniversary |
$53,900 |
$56,700 |
|
Minimum Access Period |
Maximum Access Period |
i4LIFE® Advantage (without a Guaranteed Income
Benefit) for new elections on and after November 20,
2023 |
10 years |
The length of time between
your age and age 115 for
nonqualified contracts; age
100 for qualified contracts |
i4LIFE® Advantage (without a Guaranteed Income
Benefit) for elections prior to November 20, 2023 |
5 years |
The length of time between
your age and age 115 for
nonqualified contracts; age
100 for qualified contracts |
Select Guaranteed Income Benefit
Guaranteed Income Benefit (Managed Risk) |
Longer of 20 years or the difference between your age
(nearest birthday) and age 90 |
To age 115 for nonqualified
contracts; to age 100 for
qualified contracts |
Guaranteed Income Benefit (version 4) elections on or
after May 21, 2012 |
Longer of 20 years or the difference between your age
(nearest birthday) and age 100 |
To age 115 for nonqualified
contracts; to age 100 for
qualified contracts |
|
Minimum Access Period |
Maximum Access Period |
Guaranteed Income Benefit (version 4) elections prior to
May 21, 2012 |
Longer of 20 years or the difference between your age
(nearest birthday) and age 90 |
To age 115 for nonqualified
contracts; to age 100 for
qualified contracts |
Guaranteed Income Benefit (version 2 and 3) |
Longer of 15 years or the difference between your age
(nearest birthday) and age 85 |
To age 115 for nonqualified
contracts; to age 100 for
qualified contracts |
|
Tier 1 |
Tier 2 |
Minimum Threshold Value |
$500,000 |
$1,000,000 |
Credit Percentage (Annually) |
0.10% |
0.20% |
Credit Percentage (Quarterly) |
0.025% |
0.050% |
Account Value (equals Contract Value on date i4LIFE® Advantage
Guaranteed Income Benefit is elected) |
$100,000 |
|
Guaranteed Amount/Protected Income Base on date i4LIFE®
Advantage Guaranteed Income Benefit is elected: |
$140,000 |
|
Initial Regular Income Payment |
$5,411 |
|
Initial Guaranteed Income Benefit (4.5% x $140,000 Guaranteed
Amount/Protected Income Base which is greater than $100,000
Account Value) |
$6,300 |
|
i4LIFE® Account Value before market decline |
$135,000 |
i4LIFE® Account Value after market decline |
$100,000 |
Monthly Guaranteed Income Benefit |
$810 |
Monthly Regular Income Payment after market decline |
$769 |
Account Value after market decline and Guaranteed Income Benefit
payment |
$99,190 |
8/1/2024 Amount of initial Regular Income Payment |
$4,801 |
8/1/2024 Account Value at election of Guaranteed Income Benefit |
$100,000 |
8/1/2024 Initial Guaranteed Income Benefit (4% x $100,000 Account Value) |
$4,000 |
8/1/2025 Recalculated Regular Income Payment |
$6,000 |
8/1/2025 Guaranteed Income Benefit after step-up (75% of $6,000) |
$4,500 |
If your Prior Rider is... |
you will transition to… |
•Lincoln ProtectedPay Select Core®
•Lincoln Market Select® Advantage •4LATER® Select Advantage |
Select Guaranteed Income Benefit |
•Lincoln ProtectedPay Secure Core®
•Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) •4LATER® Advantage (Managed Risk) |
Guaranteed Income Benefit (Managed Risk) |
•Lincoln Lifetime IncomeSM Advantage 2.0 |
Guaranteed Income Benefit (version 4) |
Minimum Access Period | ||
|
Elections of i4LIFE® Advantage prior
to the 5th Benefit Year anniversary |
Elections of i4LIFE® Advantage on and
after the 5th Benefit Year anniversary |
Purchasers of: •Lincoln Lifetime IncomeSM Advantage
2.0 on or after April 2, 2012 |
Longer of 20 years or the difference
between your age and age 100 |
Longer of 20 years or the difference
between your age and age 95 |
Purchasers of: •Lincoln Lifetime IncomeSM Advantage
2.0 (Managed Risk) prior to May 18,
2020 •4LATER® Advantage (Managed Risk) •Lincoln Lifetime IncomeSM Advantage
2.0 prior to April 2, 2012 |
Longer of 20 years or the difference
between your age and age 90 |
Longer of 15 years or the difference
between your age and age 85 |
Purchasers of: •Lincoln ProtectedPay Secure Core®
•Lincoln ProtectedPay Select Core®
•Lincoln Lifetime IncomeSM Advantage
2.0 (Managed Risk) on or after May 18,
2020 •Lincoln Market Select® Advantage •4LATER® Select Advantage |
Longer of 20 years or the difference
between your age and age 90 |
N/A |
i4LIFE® Advantage Guarantee of Principal Death Benefit |
$200,000 |
|
Regular Income Payment |
$25,000 |
|
Account Value at the time of additional withdrawal |
$150,000 |
|
Additional withdrawal |
$15,000 |
($15,000/$150,000=10% withdrawal) |
|
|
|
Death Benefit Value after Regular Income Payment = $200,000 - $25,000 = $175,000 | ||
Reduction in Death Benefit value for withdrawal = $175,000 x 10% = $17,500 | ||
Death Benefit Value after additional withdrawal = $175,000 - $17,500 = $157,500 |
i4LIFE® Regular Income Payment before additional withdrawal |
$1,200 |
|
Guaranteed Income Benefit before additional withdrawal |
$900 |
|
Account Value at time of additional withdrawal |
$150,000 |
|
Additional withdrawal |
$15,000 |
(a 10% withdrawal) |
|
|
|
Reduction in Guaranteed Income Benefit for additional withdrawal = $900 x 10% = $90 | ||
Guaranteed Income Benefit after additional withdrawal = $900 - $90 = $810 |
(1+A)n
|
–1 |
(1+B+K)n
|
where: | ||
A |
= |
yield rate for a U.S. Treasury security with time to maturity equal to the Subaccount’s Guaranteed Period, determined at
the beginning of the Guaranteed Period. |
B |
= |
yield rate for a U.S. Treasury security with time to maturity equal to the time remaining in the Guaranteed Period if greater
than one year, determined at the time of surrender, withdrawal or transfer. For remaining periods of one year or less, the
yield rate for a one year U.S. Treasury security is used. |
K |
= |
a 0.25% adjustment (unless otherwise limited by applicable state law). This adjustment builds into the formula a factor
representing direct and indirect costs to us associated with liquidating general account assets in order to satisfy
surrender requests. This adjustment of 0.25% has been added to the denominator of the formula because it is anticipated
that a substantial portion of applicable general account portfolio assets will be in relatively illiquid securities. Thus, in
addition to direct transaction costs, if such securities must be sold (e.g., because of surrenders), the market price may be
lower. Accordingly, even if interest rates decline, there will not be a positive adjustment until this factor is overcome, and
then any adjustment will be lower than otherwise, to compensate for this factor. Similarly, if interest rates rise, any
negative adjustment will be greater than otherwise, to compensate for this factor. If interest rates stay the same, there will
be no Interest Adjustment. |
n |
= |
The number of years remaining in the Guaranteed Period (e.g., 1 year and 73 days = 1 + (73 divided by 365) = 1.2 years). |
|
|
Straight-Line interpolation is used for periods to maturity not quoted. |
|
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
advised by
|
|
|
|
|
|
advised by |
|
|
|
|
|
This fund is not available in contracts
issued on or after November 15, 2010.
For contracts purchased as part of a
Fee-Based Financial Plan, this fund is
not available on or after June 29, 2010. |
|
|
|
|
|
This fund is not available in contracts
issued on or after November 15, 2010.
For contracts purchased as part of a
Fee-Based Financial Plan, this fund is
not available on or after June 29, 2010. |
|
|
|
|
|
This fund is not available in contracts
issued on or after November 15, 2010.
For contracts purchased as part of a
Fee-Based Financial Plan, this fund is
not available on or after June 29, 2010. |
|
|
|
|
|
This fund is not available in contracts
issued on or after November 15, 2010.
For contracts purchased as part of a
Fee-Based Financial Plan, this fund is
not available on or after June 29, 2010. |
|
|
|
|
|
This fund is not available in contracts
issued on or after November 15, 2010.
For contracts purchased as part of a
Fee-Based Financial Plan, this fund is
not available on or after June 29, 2010. |
|
|
|
|
Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
N/A |
N/A |
N/A |
|
|
|
|
N/A |
N/A |
|
|
|
N/A |
N/A |
N/A |
|
|
|
|
N/A |
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
This fund is not available in contracts
issued on or after January 9, 2017. |
|
|
|
|
|
This fund is not available in contracts
issued before January 9, 2017. |
|
|
|
|
Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
advised by
|
|
|
|
N/A |
|
This fund is not available in contracts
issued on or after January 9, 2017. |
|
|
|
|
|
This fund is not available in contracts
issued before January 9, 2017. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
This fund will be available on or about
May 20, 2024. Please consult your
registered representative. |
|
|
N/A |
N/A |
|
This fund will be available on or about
May 20, 2024. Please consult your
registered representative. |
|
|
N/A |
N/A |
|
This fund will be available on or about
May 20, 2024. Please consult your
registered representative. |
|
|
N/A |
N/A |
|
|
|
N/A |
N/A |
N/A |
|
(formerly LVIP T. Rowe Price Growth
Stock Fund)
advised by
|
|
|
|
|
Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
(formerly American Century VP
Balanced Fund)
advised by
|
|
|
|
N/A |
|
advised by
This fund will be available on or about
May 20, 2024. Please consult your
registered representative. |
|
|
|
N/A |
|
advised by
This fund will be available on or about
May 20, 2024. Please consult your
registered representative. |
|
|
|
|
|
advised by
This fund will be available on or about
May 20, 2024. Please consult your
registered representative. |
|
|
|
|
|
advised by
This fund will be available on or about
May 20, 2024. Please consult your
registered representative. |
|
|
|
|
|
(formerly American Century VP Large
Company Value Fund)
advised by
|
|
|
|
|
|
advised by
This fund will be available on or about
May 20, 2024. Please consult your
registered representative. |
|
|
|
|
|
advised by
|
|
|
|
N/A |
Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
advised by
This fund will be available on or about
May 20, 2024. Please consult your
registered representative. |
|
|
|
|
|
advised by
This fund will be available on or about
May 20, 2024. Please consult your
registered representative. |
|
|
|
|
|
advised by
This fund is not available in contracts
issued before November 15, 2010. |
|
|
|
|
|
advised by
This fund is not available in contracts
issued before November 15, 2010. |
|
|
|
|
|
advised by
This fund is not available in contracts
issued before November 15, 2010. |
|
|
|
|
|
advised by
This fund is not available in contracts
issued before November 15, 2010. |
|
|
|
|
|
advised by
This fund is not available in contracts
issued before November 15, 2010. |
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
advised by
|
|
|
N/A |
N/A |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
N/A |
N/A |
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
N/A |
Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
N/A |
Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
N/A |
N/A |
N/A |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
advised by
|
|
|
|
|
|
(formerly LVIP Delaware Bond Fund)
advised by
|
|
|
|
|
|
(formerly LVIP Delaware Diversified
Floating Rate Fund)
advised by
|
|
|
|
|
|
(formerly LVIP Delaware Diversified
Income Fund)
advised by
|
|
|
|
|
|
(formerly LVIP Delaware High Yield
Fund)
advised by
|
|
|
|
|
|
(formerly LVIP Delaware Limited-Term
Diversified Income Fund)
advised by
|
|
|
|
|
|
(formerly LVIP Delaware Mid Cap Value
Fund)
advised by
|
|
|
|
|
|
(formerly LVIP Delaware SMID Cap Core
Fund)
advised by
|
|
|
|
|
Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
(formerly LVIP Delaware Social
Awareness Fund)
advised by
|
|
|
|
|
|
(formerly LVIP Delaware U.S. Growth
Fund)
advised by
|
|
|
|
|
|
(formerly LVIP Delaware U.S. REIT
Fund)
advised by
|
|
|
|
|
|
(formerly LVIP Delaware Value Fund)
advised by
|
|
|
|
|
|
(formerly LVIP Delaware Wealth Builder
Fund)
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
- |
|
|
advised by
|
|
|
|
|
Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
|
Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
This fund is not available in contracts
issued on or after June 30, 2009. |
|
|
|
|
|
advised by
This fund is not available in contracts
issued on or after June 30, 2009. |
|
|
|
|
Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
advised by
This fund is not available in contracts
issued on or after June 30, 2009. |
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
N/A |
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
N/A |
|
(formerly Delaware VIP® Emerging
Markets Series)
advised by
|
|
|
|
|
Investment Objective |
Fund and
Adviser/Sub-adviser1 |
Current Expenses |
Average Annual Total
Returns (as of 12/31/2023) | ||
|
|
|
1 year |
5 year |
10 year |
|
(formerly Delaware VIP® Small Cap
Value Series)
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
|
|
|
|
advised by
|
|
- |
|
|
|
advised by
This fund is not available in contracts
issued on or after January 9, 2017. |
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
This fund is not available in contracts
issued on or after January 9, 2017. |
|
|
- |
- |
If you elect... |
and the date of election is... |
you will be subject to
Investment Requirements |
Lincoln ProtectedPay Secure Core®, Lincoln
ProtectedPay Secure Plus®, Lincoln ProtectedPay
Secure Max® |
On or after November 28, 2022 |
Option 3 for Managed Risk
riders |
Lincoln ProtectedPay Select Core®, Lincoln
ProtectedPay Select Plus®, Lincoln ProtectedPay Select
Max® |
On or after November 28, 2022 |
Option 3 |
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed
Risk) |
On or after April 2, 2012 |
Option 3 for Managed Risk
riders |
4LATER® Advantage (Managed Risk) |
On or after July 16, 2012 |
Option 3 for Managed Risk
riders |
i4LIFE® Advantage Guaranteed Income Benefit
(Managed Risk) |
On or after May 21, 2012 |
Option 3 for Managed Risk
riders |
Lincoln Max 6 SelectSM Advantage |
On or after May 22, 2017 |
Option 3 |
Lincoln IRA Income PlusSM
|
On or after January 14, 2019 |
Option 3 |
4LATER® Select Advantage |
On or after January 9, 2017 |
Option 3 |
If you elect... |
and the date of election is... |
you will be subject to
Investment Requirements |
i4LIFE® Advantage Select Guaranteed Income Benefit |
On or after August 29, 2016 |
Option 3 |
Lincoln Market Select® Advantage |
On or after October 5, 2015 |
Option 3 |
Lincoln Long-Term CareSM Advantage |
On or after April 11, 2011 |
Option 3 |
Lincoln Lifetime IncomeSM Advantage 2.0 |
On or after November 15, 2010 |
Option 3 |
Lincoln Lifetime IncomeSM Advantage |
February 19, 2008 through January 19, 2009
On or after January 20, 2009 |
Option 2
Option 3 |
Lincoln SmartSecurity® Advantage |
Prior to April 10, 2006
April 10, 2006 through January 19, 2009
On or after January 20, 2009 |
N/A
Option 1
Option 3 |
4LATER® Advantage |
April 10, 2006 through January 19, 2009
On or after January 20, 2009 |
Option 1
Option 3 |
i4LIFE® Advantage Guaranteed Income Benefit (v.1) |
Prior to April 10, 2006
On or after April 10, 2006 |
N/A
Option 1 |
i4LIFE® Advantage Guaranteed Income Benefit (v.2) |
April 10, 2006 through January 19, 2009
On or after January 20, 2009 |
Option 1
Option 3 |
i4LIFE® Advantage Guaranteed Income Benefit (v.3) |
October 6, 2008 through January 19, 2009
On or after January 20, 2009 |
Option 2
Option 3 |
i4LIFE® Advantage Guaranteed Income Benefit (v.4) |
On or after November 15, 2010 |
Option 3 |
Group 1
Investments must be at least 25% of Contract
Value or Account Value |
Group 2
Investments cannot exceed 75% of Contract
Value or Account Value |
Group 3
Investments cannot exceed 10% of Contract
Value or Account Value |
LVIP American Century Inflation Protection Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP JPMorgan Core Bond Fund
LVIP Macquarie Bond Fund
LVIP Macquarie Diversified Floating Rate Fund
LVIP Macquarie Diversified Income Fund
LVIP Macquarie Limited-Term Diversified Income
Fund
LVIP Mondrian Global Income Fund
LVIP PIMCO Low Duration Bond Fund
LVIP SSGA Bond Index Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Vanguard Bond Allocation Fund
LVIP Western Asset Core Bond Fund
Templeton Global Bond VIP Fund |
All other Subaccounts except those in Group 3
and as discussed below. |
DWS Alternative Asset Allocation VIP Portfolio
LVIP Franklin Templeton Multi-Factor Emerging
Markets Equity Fund
LVIP Macquarie U.S. REIT Fund
|
Group 1
Investments must be at least 20% of Contract
Value or Account Value |
Group 2
Investments cannot exceed 80% of Contract
Value or Account Value |
Group 3
Investments cannot exceed 10% of Contract
Value or Account Value |
LVIP American Century Inflation Protection Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP JPMorgan Core Bond Fund
LVIP Macquarie Bond Fund
LVIP Macquarie Diversified Floating Rate Fund
LVIP Macquarie Diversified Income Fund
LVIP Macquarie Limited-Term Diversified Income
Fund
LVIP Mondrian Global Income Fund (not available
for riders purchased on or after May 21, 2018)
LVIP PIMCO Low Duration Bond Fund
LVIP SSGA Bond Index Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Vanguard Bond Allocation Fund
LVIP Western Asset Core Bond Fund |
LVIP American Century Select Mid Cap Managed
Volatility Fund
LVIP BlackRock Dividend Value Managed
Volatility Fund
LVIP BlackRock Global Allocation Managed Risk
Fund
LVIP BlackRock Global Growth ETF Allocation
Managed Risk Fund
LVIP BlackRock U.S. Growth ETF Allocation
Managed Risk Fund
LVIP Blended Large Cap Growth Managed
Volatility Fund
LVIP Blended Mid Cap Managed Volatility Fund
LVIP ClearBridge Franklin Select Large Cap
Managed Volatility Fund
LVIP Dimensional International Equity Managed
Volatility Fund
LVIP Dimensional U.S. Equity Managed Volatility
Fund
LVIP Fidelity Institutional AM® Select Core Equity
Managed Volatility Fund
LVIP Franklin Templeton Global Equity Managed
Volatility Fund
LVIP Global Aggressive Growth Allocation
Managed Risk Fund
LVIP Global Conservative Allocation Managed
Risk Fund
LVIP Global Growth Allocation Managed Risk
Fund
LVIP Global Moderate Allocation Managed Risk
Fund
LVIP Invesco Select Equity Income Managed
Volatility Fund
LVIP JPMorgan Select Mid Cap Value Managed
Volatility Fund
LVIP MFS International Equity Managed Volatility
Fund
LVIP Multi-Manager Global Equity Managed
Volatility Fund
LVIP SSGA Global Tactical Allocation Managed
Volatility Fund
LVIP SSGA International Managed Volatility Fund
LVIP SSGA Large Cap Managed Volatility Fund
LVIP SSGA SMID Cap Managed Volatility Fund
LVIP U.S. Aggressive Growth Allocation Managed
Risk Fund
LVIP U.S. Growth Allocation Managed Risk Fund |
No subaccounts at this time. |
Group 1
Investments must be at least 20% of Contract Value or Account Value. |
Group 2
Investments cannot exceed 80% of Contract Value or Account Value. |
LVIP American Century Inflation Protection Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP JPMorgan Core Bond Fund
LVIP Macquarie Bond Fund
LVIP Macquarie Diversified Floating Rate Fund
LVIP Macquarie Diversified Income Fund
LVIP Macquarie Limited-Term Diversified Income Fund
LVIP PIMCO Low Duration Bond Fund
LVIP SSGA Bond Index Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Vanguard Bond Allocation Fund
LVIP Western Asset Core Bond Fund
|
AB VPS Discovery Value Portfolio
American Funds Global Growth Fund
American Funds Growth Fund
American Funds Growth-Income Fund
American Funds International Fund
ClearBridge Variable Large Cap Growth Portfolio
Fidelity® VIP Balanced Portfolio
Fidelity® VIP Contrafund® Portfolio
Fidelity® VIP FundsManager® 50% Portfolio
Fidelity® VIP Mid Cap Portfolio
First Trust Capital Strength Portfolio
First Trust Growth Strength Portfolio
First Trust International Developed Capital Strength Portfolio
First Trust/Dow Jones Dividend & Income Allocation Portfolio
Franklin Allocation VIP Fund
Franklin Income VIP Fund
Franklin Multi-Asset Variable Conservative Growth Fund
Franklin Mutual Shares VIP Fund
Invesco V.I. Equally-Weighted S&P 500 Fund
Invesco V.I. EQV International Equity Fund
Lincoln Hedged S&P 500 Conservative Fund
Lincoln Hedged S&P 500 Fund
Lincoln Opportunistic Hedged Equity Fund
LVIP AllianceBernstein Large Cap Growth Fund
LVIP American Century Balanced Fund
LVIP American Century Capital Appreciation Fund
LVIP American Century Disciplined Core Value Fund
LVIP American Century International Fund
LVIP American Century Large Company Value Fund
LVIP American Century Mid Cap Value Fund
LVIP American Century Ultra Fund
LVIP American Century Value Fund
LVIP American Global Growth Fund
LVIP American Growth Fund
LVIP American Growth-Income Fund
LVIP American International Fund
LVIP Baron Growth Opportunities Fund
LVIP BlackRock Global Allocation Fund
LVIP BlackRock Global Allocation Managed Risk Fund
LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund
LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund
LVIP Channing Small Cap Value Fund
LVIP Dimensional International Core Equity Fund
LVIP Dimensional U.S. Core Equity 1 Fund
LVIP Dimensional U.S. Core Equity 2 Fund
LVIP Franklin Templeton Multi-Factor International Equity Fund
LVIP Franklin Templeton Multi-Factor Large Cap Equity Fund
LVIP Franklin Templeton Multi-Factor SMID Cap Equity Fund
LVIP Global Aggressive Growth Allocation Managed Risk Fund
LVIP Global Conservative Allocation Managed Risk Fund
LVIP Global Growth Allocation Managed Risk Fund
LVIP Global Moderate Allocation Managed Risk Fund |
Group 1
Investments must be at least 20% of Contract Value or Account Value. |
Group 2
Investments cannot exceed 80% of Contract Value or Account Value. |
|
LVIP Government Money Market Fund
LVIP JPMorgan High Yield Fund
LVIP JPMorgan Mid Cap Value Fund
LVIP JPMorgan Retirement Income Fund
LVIP JPMorgan Small Cap Core Fund
LVIP JPMorgan U.S. Equity Fund
LVIP Macquarie High Yield Fund
LVIP Macquarie Mid Cap Value Fund
LVIP Macquarie SMID Cap Core Fund
LVIP Macquarie Social Awareness Fund
LVIP Macquarie U.S. Growth Fund
LVIP Macquarie Value Fund
LVIP Macquarie Wealth Builder Fund
LVIP MFS International Growth Fund
LVIP MFS Value Fund
LVIP Mondrian International Value Fund
LVIP SSGA Conservative Index Allocation Fund
LVIP SSGA Global Tactical Allocation Managed Volatility Fund
LVIP SSGA International Index Fund
LVIP SSGA Mid-Cap Index Fund
LVIP SSGA Moderate Index Allocation Fund
LVIP SSGA Moderately Aggressive Index Allocation Fund
LVIP SSGA S&P 500 Index Fund
LVIP SSGA Small-Cap Index Fund
LVIP Structured Conservative Allocation Fund
LVIP Structured Moderate Allocation Fund
LVIP Structured Moderately Aggressive Allocation Fund
LVIP T. Rowe Price Structured Mid-Cap Growth Fund
LVIP U.S. Aggressive Growth Allocation Managed Risk Fund
LVIP U.S. Growth Allocation Managed Risk Fund
LVIP Vanguard Domestic Equity ETF Fund
LVIP Vanguard International Equity ETF Fund
LVIP Wellington Capital Growth Fund
LVIP Wellington SMID Cap Value Fund
Macquarie VIP Small Cap Value Series
MFS® VIT Growth Series
MFS® VIT Total Return Series
Putnam VT George Putnam Balanced Fund
Putnam VT Large Cap Value Fund
Putnam VT Sustainable Leaders Fund |
Group 1
Investments must be at least 30% of Contract
Value or Account Value |
Group 2
Investments cannot exceed 70% of Contract
Value or Account Value |
Group 3
Investments cannot exceed 10% of Contract
Value or Account Value |
LVIP American Century Inflation Protection Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP JPMorgan Core Bond Fund
LVIP Macquarie Bond Fund
LVIP Macquarie Diversified Floating Rate Fund
LVIP Macquarie Diversified Income Fund
LVIP Macquarie Limited-Term Diversified Income
Fund
LVIP Mondrian Global Income Fund
LVIP PIMCO Low Duration Bond Fund
LVIP SSGA Bond Index Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Vanguard Bond Allocation Fund
LVIP Western Asset Core Bond Fund
|
AB VPS Discovery Value Portfolio
American Funds Global Growth Fund
American Funds Growth Fund
American Funds Growth-Income Fund
American Funds International Fund
ClearBridge Variable Large Cap Growth Portfolio
Fidelity® VIP Balanced Portfolio
Fidelity® VIP Contrafund® Portfolio
Fidelity® VIP FundsManager® 50% Portfolio
Fidelity® VIP Growth Portfolio
Fidelity® VIP Mid Cap Portfolio
First Trust Capital Strength Portfolio
First Trust Capital Strength Portfolio
First Trust Growth Strength Portfolio
First Trust International Developed Capital
Strength Portfolio
First Trust/Dow Jones Dividend & Income
Allocation Portfolio
Franklin Allocation VIP Fund
Franklin Income VIP Fund
Franklin Multi-Asset Variable Conservative
Growth Fund
Franklin Mutual Shares VIP Fund
Invesco V.I. Equally-Weighted S&P 500 Fund
Invesco V.I. EQV International Equity Fund
LVIP AllianceBernstein Large Cap Growth Fund
LVIP American Century Balanced Fund
LVIP American Century Capital Appreciation Fund
LVIP American Century Disciplined Core Value
Fund
LVIP American Century International Fund
LVIP American Century Large Company Value
Fund
LVIP American Century Mid Cap Value Fund
LVIP American Century Ultra Fund
LVIP American Century Value Fund
LVIP American Global Growth Fund
LVIP American Growth Fund
LVIP American Growth-Income Fund
LVIP American International Fund
LVIP Baron Growth Opportunities Fund
LVIP BlackRock Global Allocation Fund
LVIP Channing Small Cap Value Fund
LVIP Dimensional International Core Equity Fund
LVIP Dimensional U.S. Core Equity 1 Fund
LVIP Dimensional U.S. Core Equity 2 Fund
LVIP Franklin Templeton Multi-Factor
International Equity Fund |
AB VPS Sustainable Global Thematic Portfolio
American Funds Global Small Capitalization Fund
DWS Alternative Asset Allocation VIP Portfolio
LVIP American Global Small Capitalization Fund
LVIP BlackRock Real Estate Fund
LVIP Franklin Templeton Multi-Factor Emerging
Markets Equity Fund
LVIP Macquarie U.S. REIT Fund
LVIP SSGA Emerging Markets Equity Index Fund
Macquarie VIP Emerging Markets Series
MFS® VIT Utilities Series |
Group 1
Investments must be at least 30% of Contract
Value or Account Value |
Group 2
Investments cannot exceed 70% of Contract
Value or Account Value |
Group 3
Investments cannot exceed 10% of Contract
Value or Account Value |
|
LVIP Franklin Templeton Multi-Factor Large Cap
Equity Fund
LVIP Franklin Templeton Multi-Factor SMID Cap
Equity Fund
LVIP Government Money Market Fund
LVIP JPMorgan High Yield Fund
LVIP JPMorgan Mid Cap Value Fund
LVIP JPMorgan Retirement Income Fund
LVIP JPMorgan Small Cap Core Fund
LVIP JPMorgan U.S. Equity Fund
LVIP Macquarie High Yield Fund
LVIP Macquarie Mid Cap Value Fund
LVIP Macquarie SMID Cap Core Fund
LVIP Macquarie Social Awareness Fund
LVIP Macquarie U.S. Growth Fund
LVIP Macquarie Value Fund
LVIP Macquarie Wealth Builder Fund
LVIP MFS International Growth Fund
LVIP MFS Value Fund
LVIP Mondrian International Value Fund
LVIP SSGA Conservative Index Allocation Fund
LVIP SSGA International Index Fund
LVIP SSGA Mid-Cap Index Fund
LVIP SSGA Moderate Index Allocation Fund
LVIP SSGA Moderately Aggressive Index
Allocation Fund
LVIP SSGA S&P 500 Index Fund
LVIP SSGA Small-Cap Index Fund
LVIP Structured Conservative Allocation Fund
LVIP Structured Moderate Allocation Fund
LVIP Structured Moderately Aggressive
Allocation Fund
LVIP T. Rowe Price Structured Mid-Cap Growth
Fund
LVIP Vanguard Domestic Equity ETF Fund
LVIP Vanguard International Equity ETF Fund
LVIP Wellington Capital Growth Fund
LVIP Wellington SMID Cap Value Fund
Macquarie VIP Small Cap Value Series
MFS® VIT Growth Series
MFS® VIT Total Return Series
Putnam VT George Putnam Balanced Fund
Putnam VT Large Cap Value Fund
Putnam VT Sustainable Leaders Fund |
|
Group 1
Investments must be at least 30% of Contract
Value or Account Value |
Group 2
Investments cannot exceed 70% of Contract
Value or Account Value |
Group 3
Investments cannot exceed 10% of Contract
Value or Account Value |
LVIP American Century Inflation Protection Fund
LVIP BlackRock Inflation Protected Bond Fund
LVIP JPMorgan Core Bond Fund
LVIP Macquarie Bond Fund
LVIP Macquarie Diversified Floating Rate Fund
LVIP Macquarie Diversified Income Fund
LVIP Macquarie Limited-Term Diversified Income
Fund
LVIP Mondrian Global Income Fund
LVIP PIMCO Low Duration Bond Fund
LVIP SSGA Bond Index Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Vanguard Bond Allocation Fund
LVIP Western Asset Core Bond Fund
|
All other Subaccounts offered under the
Contract, except for Subaccounts in Group 3,
and as described below. |
AB VPS Sustainable Global Thematic Portfolio
DWS Alternative Asset Allocation VIP Portfolio
LVIP BlackRock Real Estate Fund
LVIP Franklin Templeton Multi-Factor Emerging
Markets Equity Fund
LVIP Macquarie U.S. REIT Fund
LVIP SSGA Emerging Markets Equity Index Fund
Macquarie VIP Emerging Markets Series
MFS® VIT Utilities Series |
Contract Value on the Valuation Date the death claim is approved |
$120,000 |
Contract earnings |
$20,000 ($120,000 - $100,000) |
Covered earnings limit |
$200,000 ($100,000 x 2) |
The enhancement rate is multiplied by the lesser of the contract earnings amount ($20,000) or the
covered earnings limit amount ($200,000) |
$8,000 (40% x $20,000) |
Total Death Benefit amount |
$128,000 ($120,000 + $8,000) |
|
Guaranteed Maximum Annual Fee Rate* | |
Single
Life |
Joint
Life | |
Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk) on or after May 21, 2018 |
2.25% |
2.45% |
Lincoln Market Select® Advantage riders
elected on or after August 29, 2016
(October 3, 2016 for existing
Contractowners) |
2.25% |
2.45% |
Lincoln Max 6 SelectSM Advantage |
2.25% |
2.45% |
|
Current Annual Fee Rate |
Guaranteed Maximum Annual Fee Rate | ||
Single
Life |
Joint
Life |
Single
Life |
Joint
Life | |
Lincoln Lifetime
IncomeSM Advantage 2.0
(Managed Risk) riders
elected prior to May 21,
20181 |
1.25% |
1.50% |
2.00% |
2.00% |
Lincoln Lifetime
IncomeSM Advantage
2.02 |
1.25%
(0.3125% quarterly) |
1.50%
(0.3750% quarterly) |
2.00% |
2.00% |
Lincoln Market Select®
Advantage riders elected
on or after May 16, 2016
and prior to August 29,
2016 (October 3, 2016
for existing
Contractowners) |
0.95% |
1.15% |
2.25% |
2.45% |
4LATER® Advantage
(Managed Risk) 3 |
1.05%
(0.2625% quarterly) |
1.25%
(0.3125% quarterly) |
2.00% |
2.00% |
Lincoln IRA Income
PlusSM
|
1.35%
(0.3375% quarterly) |
N/A |
2.25% |
N/A |
If your Prior Rider is... |
you will transition to... |
Lincoln Lifetime IncomeSM Advantage 2.0 |
i4LIFE® Advantage Guaranteed Income Benefit
(version 4) |
4LATER® Advantage (Managed Risk) |
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) |
|
Current Fee |
Beginning January 11, 2021 |
1.25% |
January 20, 2009 through January 10, 2021 |
0.90% |
Prior to January 20, 2009 |
0.75% |
|
Current Fee |
Beginning January 11, 2021 |
0.95% |
December 3, 2012 through January 10, 2021 |
0.85% |
January 20, 2009 through December 2, 2012 |
0.65% |
Prior to January 20, 2009 |
0.45% |
|
Current Fee | |
|
Single
Life |
Joint
Life |
Beginning January 11, 2021 |
1.00% |
1.25% |
December 3, 2012 through January 10, 2021 |
0.85% |
1.00% |
Prior to December 3, 2012 |
0.65% |
0.80% |
|
Current Fee |
Beginning January 11, 2021 |
0.90% |
January 20, 2009 through January 10, 2021 |
0.65% |
Prior to January 20, 2009 |
0.50% |
The LTC Charge will be higher if you choose the Growth Benefit option because the Acceleration Benefit Charge annual percentage
rate is higher for the Growth Benefit option than it is for the Level Benefit option and the LTC Guaranteed Amount against which the
Acceleration Benefit Charge annual percentage rate is assessed may be higher due to automatic step-ups. |
Extension Benefit Charge: 50% Benefit for Assisted Living Services | |
States: AK, AL, AR, AZ, DC, DE, GA, IA, KY, LA, MD, ME, MI, MO, MS,
MT, NC, ND, NE, NM, OK, OR, RI, SC, SD, WV, WY | |
Age on
Contract Date |
Extension
Benefit Charge |
45-49 |
0.26% |
50-54 |
0.30% |
55-59 |
0.32% |
60-64 |
0.38% |
65-69 |
0.50% |
70-74 |
0.68% |
Extension Benefit Charge: 100% Benefit for Assisted Living Services | |
All other states | |
Age on
Contract Date |
Extension
Benefit Charge |
45-49 |
0.28% |
50-54 |
0.32% |
55-59 |
0.36% |
60-64 |
0.40% |
65-69 |
0.54% |
70-74 |
0.76% |
Optional Nonforfeiture Benefit Charge:
50% Benefit for Assisted Living Services | |
States: AK, AL, AR, AZ, DC, DE, GA, IA, KY, LA, MD, ME, MI, MO, MS,
MT, NC, ND, NE, NM, OK, OR, RI, SC, SD, WV, WY | |
Age on
Contract Date |
Optional Nonforfeiture
Benefit Charge |
45-49 |
0.04% |
50-54 |
0.05% |
55-59 |
0.05% |
60-64 |
0.06% |
65-69 |
0.08% |
70-74 |
0.11% |
Optional Nonforfeiture Benefit Charge:
100% Benefit for Assisted Living Services | |||
Age on
Contract Date |
Optional Nonforfeiture
Benefit Charge | ||
|
Texas |
California |
All other states |
45-49 |
0.06% |
0.06% |
0.05% |
50-54 |
0.06% |
0.06% |
0.05% |
55-59 |
0.07% |
0.07% |
0.06% |
60-64 |
0.07% |
0.07% |
0.06% |
65-69 |
0.10% |
0.10% |
0.09% |
70-74 |
0.14% |
0.13% |
0.12% |
Example: The following example illustrates the calculation of the LTC Benefit Charge for a 60 year old who lives in Georgia. The
example assumes the Level Benefit option and the Optional Nonforfeiture Benefit have been chosen. | |||
Acceleration Benefit: |
$100,000 | ||
LTC Guaranteed Amount: |
$100,000 | ||
Extension Benefit: |
$200,000 |
Acceleration Benefit Charge Annual Charge Rate: |
0.35% | ||
Extension Benefit Charge Annual Charge Rate: |
0.38% | ||
Optional Nonforfeiture Benefit Charge Annual Charge Rate: |
0.06% | ||
LTC Charge (Annual)*: |
$1,230 | ||
|
* $350 Acceleration Benefit Charge (0.35% x $100,000 LTC Guaranteed Amount) + $760 Extension Benefit
Charge (0.38% x $200,000 Extension Benefit) + $120 Optional Nonforfeiture Charge (0.06% x $200,000
Extension Benefit) = $1,230 annual LTC Charge |
|
Example: The following example illustrates the calculation of the LTC Benefit Charge for a 60 year old who lives in Georgia. The
example assumes the Growth Benefit option and the Optional Nonforfeiture Benefit have been chosen. | |||
Acceleration Benefit: |
$100,000 | ||
LTC Guaranteed Amount: |
$100,000 | ||
Extension Benefit: |
$200,000 | ||
Growth Benefit: |
$0 | ||
Acceleration Benefit Charge Annual Charge Rate: |
0.50% | ||
Extension Benefit Charge Annual Charge Rate: |
0.38% | ||
Optional Nonforfeiture Benefit Charge Annual Charge Rate: |
0.06% | ||
LTC Charge (Annual)*: |
$1,380 | ||
|
*$500 Acceleration Benefit Charge (0.50% x $100,000 LTC Guaranteed Amount) + $760 Extension Benefit
Charge (0.38% x $200,000 Extension Benefit) + $120 Optional Nonforfeiture Benefit Charge (0.06% x
$200,000 Extension Benefit)= $1,380 annual LTC Charge |
|
|
Contract
Value |
Protected Income Base |
At issue |
$47,750
* |
$50,000 |
1st Benefit Year anniversary |
$54,000 |
$54,000 |
2nd Benefit Year anniversary |
$53,900 |
$56,700 |
Contract Value on the rider's effective date |
$200,000 |
Protected Income Base and Enhancement Base on the rider's
effective date |
$200,000 |
Initial Protected Annual Income amount on the rider's effective
date ($200,000 x 4.00%) |
$8,000 |
Contract Value six months after rider's effective date |
$210,000 |
Protected Income Base and Enhancement Base six months after
rider's effective date |
$200,000 |
Withdrawal six months after rider's effective date |
$8,000 |
Contract Value after withdrawal ($210,000 - $8,000) |
$202,000 |
Protected Income Base and Enhancement Base after withdrawal
($200,000 - $0) |
$200,000 |
Contract Value on first Benefit Year anniversary |
$205,000 |
Protected Income Base and Enhancement Base on first Benefit
Year anniversary |
$205,000 |
Protected Annual Income amount on first Benefit Year anniversary
($205,000 x 4.00%) |
$8,200 |
Initial Purchase Payment |
$100,000 |
|
Additional Purchase Payment in Year 2 |
$95,000 |
No change to charge |
Additional Purchase Payment in Year 3 |
$50,000 |
Charge will be the then current charge |
Additional Purchase Payment in Year 4 |
$25,000 |
Charge will be the then current charge |
|
Contract
Value |
Guaranteed
Amount |
Potential for
Charge to
Change |
Length of 5%
Enhancement
Period |
Initial Purchase Payment $50,000 |
$47,750
* |
$50,000 |
No |
10 |
1st Benefit Year anniversary |
$54,000 |
$54,000 |
Yes |
10 |
2nd Benefit Year anniversary |
$53,900 |
$56,700 |
No |
9 |
3rd Benefit Year anniversary |
$57,000 |
$59,535 |
No |
8 |
4th Benefit Year anniversary |
$64,000 |
$64,000 |
Yes |
10 |
|
Contract
Value |
Guaranteed
Amount |
Maximum Annual
Withdrawal Amount |
Initial Purchase Payment $50,000 |
$47,750
* |
$50,000 |
$2,500 |
1st Benefit Year anniversary |
$54,000 |
$54,000 |
$2,700 |
2nd Benefit Year anniversary |
$51,000 |
$51,300 |
$2,700 |
3rd Benefit Year anniversary |
$57,000 |
$57,000 |
$2,850 |
4th Benefit Year anniversary |
$64,000 |
$64,000 |
$3,200 |
|
Contract
Value |
Protected Income Base |
At issue |
$47,750
* |
$50,000 |
1st Benefit Year anniversary |
$54,000 |
$54,000 |
2nd Benefit Year anniversary |
$53,900 |
$56,700 |
Contract Value on the rider’s effective date |
$200,000 |
Protected Income Base and Enhancement Base on the rider’s
effective date |
$200,000 |
Initial Protected Annual Income amount on the rider’s effective
date ($200,000 x 4%) |
$8,000 |
Contract Value six months after rider’s effective date |
$210,000 |
Protected Income Base and Enhancement Base six months after
rider’s effective date |
$200,000 |
Withdrawal six months after the rider’s effective date |
$8,000 |
Contract Value after withdrawal ($210,000 - $8,000) |
$202,000 |
Protected Income Base and Enhancement Base after withdrawal
($200,000 - $0) |
$200,000 |
Contract Value on the first Benefit Year anniversary |
$205,000 |
Protected Income Base and Enhancement Base on the first Benefit
Year anniversary |
$205,000 |
Protected Annual Income amount on the first Benefit Year
anniversary ($205,000 x 4%) |
$8,200 |
|
Contract
Value |
Protected Income Base |
At issue |
$47,750
* |
$50,000 |
1st Benefit Year anniversary |
$54,000 |
$54,000 |
2nd Benefit Year anniversary |
$53,900 |
$56,700 |
Contract Value on the rider’s effective date |
$200,000 |
Protected Income Base and Enhancement Base on the rider’s
effective date |
$200,000 |
Initial Protected Annual Income amount on the rider’s effective
date ($200,000 x 4%) |
$8,000 |
Contract Value six months after rider’s effective date |
$210,000 |
Protected Income Base and Enhancement Base six months after
rider’s effective date |
$200,000 |
Withdrawal six months after rider’s effective date |
$8,000 |
Contract Value after withdrawal ($210,000 - $8,000) |
$202,000 |
Protected Income Base and Enhancement Base after withdrawal
($200,000 - $0) |
$200,000 |
Contract Value on the first Benefit Year anniversary |
$205,000 |
Protected Income Base and Enhancement Base on the first Benefit
Year anniversary |
$205,000 |
Protected Annual Income amount on the first Benefit Year
anniversary ($205,000 x 4%) |
$8,200 |
|
Contract
Value |
Guaranteed
Amount |
Initial Purchase Payment $50,000 (less 4.5% sales charge) |
$47,750 |
$50,000 |
1st Benefit Year anniversary |
$54,000 |
$54,000 |
2nd Benefit Year anniversary |
$53,900 |
$54,000 |
3rd Benefit Year anniversary |
$57,000 |
$57,000 |
|
Contract
Value |
Protected Income Base |
Enhancement Base |
Enhancement amount
added to Protected Income Base |
At issue |
$96,500
* |
$100,000 |
$100,000 |
- |
1st Benefit
Year
anniversary |
$104,000 |
$106,000 |
$100,000 |
$6,000 |
2nd Benefit
Year
anniversary |
$115,000 |
$115,000 |
$115,000 |
N/A |
Contract Value on the rider’s effective date |
$200,000 |
Protected Income Base and Enhancement Base on the rider’s
effective date |
$200,000 |
Initial Protected Annual Income amount on the rider’s effective
date ($200,000 x 5%) |
$10,000 |
Contract Value six months after rider’s effective date |
$212,000 |
Protected Income Base and Enhancement Base six months after
rider’s effective date |
$200,000 |
Withdrawal six months after rider’s effective date |
$10,000 |
Contract Value after withdrawal ($212,000 - $10,000) |
$202,000 |
Protected Income Base and Enhancement Base after withdrawal
($200,000 - $0) |
$200,000 |
Contract Value on the first Benefit Year anniversary |
$205,000 |
Protected Income Base and Enhancement Base on the first Benefit
Year anniversary |
$205,000 |
Protected Annual Income amount on the first Benefit Year
anniversary ($205,000 x 5%) |
$10,250 |
Contract Value on the rider’s effective date |
$200,000 |
Protected Amount on the rider’s effective date |
$200,000 |
Initial Protected Annual Income amount on the rider’s effective
date |
$10,000 |
Contract Value six months after rider’s effective date |
$212,000 |
Protected Amount six months after rider’s effective date |
$200,000 |
Withdrawal six months after rider’s effective date |
$10,000 |
Contract Value after withdrawal ($212,000 - $10,000) |
$202,000 |
Protected Amount after withdrawal ($200,000 - $10,000) |
$190,000 |
Contract Value on the first Benefit Year anniversary |
$205,000 |
Protected Amount on the first Benefit Year anniversary |
$190,000 |
Protected Annual Income amount on the first Benefit Year
anniversary |
$10,000 |
Age |
Final GMWB Payment Year |
Age |
Final GMWB Payment Year |
Age |
Final GMWB Payment Year |
0 |
82 |
28 |
55 |
56 |
28 |
1 |
81 |
29 |
54 |
57 |
27 |
2 |
80 |
30 |
53 |
58 |
27 |
3 |
79 |
31 |
52 |
59 |
26 |
4 |
78 |
32 |
51 |
60 |
25 |
5 |
77 |
33 |
50 |
61 |
24 |
6 |
76 |
34 |
49 |
62 |
23 |
7 |
75 |
35 |
48 |
63 |
22 |
8 |
74 |
36 |
47 |
64 |
21 |
9 |
73 |
37 |
46 |
65 |
21 |
10 |
72 |
38 |
45 |
66 |
20 |
11 |
71 |
39 |
44 |
67 |
19 |
12 |
70 |
40 |
43 |
68 |
18 |
13 |
69 |
41 |
42 |
69 |
17 |
14 |
68 |
42 |
41 |
70 |
17 |
15 |
67 |
43 |
40 |
71 |
16 |
16 |
66 |
44 |
39 |
72 |
15 |
17 |
66 |
45 |
38 |
73 |
14 |
18 |
65 |
46 |
37 |
74 |
14 |
19 |
64 |
47 |
37 |
75 |
13 |
20 |
63 |
48 |
36 |
76 |
12 |
21 |
62 |
49 |
35 |
77 |
12 |
22 |
61 |
50 |
34 |
78 |
11 |
23 |
60 |
51 |
33 |
79 |
10 |
24 |
59 |
52 |
32 |
80 |
10 |
25 |
58 |
53 |
31 |
81 |
9 |
26 |
57 |
54 |
30 |
|
|
Age |
Final GMWB Payment Year |
Age |
Final GMWB Payment Year |
Age |
Final GMWB Payment Year |
27 |
56 |
55 |
29 |
|
|
|
Contract Value |
Protected Income Base with 5% Enhancement |
Protected Income Base |
|
Initial Purchase Payment $50,000 |
$47,750
* |
N/A |
$50,000 |
|
1st Benefit Year anniversary |
$54,000 |
$52,500 |
$54,000 |
|
2nd Benefit Year anniversary |
$53,900 |
$56,700 |
$56,700 |
|
Initial Purchase Payment |
$100,000 |
|
Purchase Payment 60 days later |
$10,000 |
|
Protected Income Base |
$110,000 |
|
Future Protected Income Base (during the 1st Waiting Period) |
$126,500 |
($110,000 x 115%) |
Protected Income Base (after 1st Waiting Period) |
$126,500 |
|
New Future Protected Income Base (during 2nd Waiting Period) |
$145,475 |
($126,500 x 115%) |
Protected Income Base |
$100,000 |
|
Purchase Payment in Year 2 |
$10,000 |
|
New Protected Income Base |
$110,000 |
|
Future Protected Income Base (during 1st Waiting Period-Year 2) |
$125,500 |
($100,000 x 115%) + |
|
|
($10,000 x 100%) + |
|
|
($10,000 x 15% x 1/3) |
Protected Income Base (after 1st Waiting Period) |
$125,500 |
|
New Future Protected Income Base (during 2nd Waiting Period) |
$144,325 |
(125,500 x 115%) |
Protected Income Base |
$100,000 |
Maximum Protected Income Base |
$200,000 |
Purchase Payment in Year 2 |
$10,000 |
Increase to Maximum Protected Income Base |
$20,000 |
New Protected Income Base |
$110,000 |
New Maximum Protected Income Base |
$220,000 |
Future Protected Income Base after Purchase
Payment |
$125,500 |
Maximum Protected Income Base |
$220,000 |
Protected Income Base (after 1st Waiting
Period) |
$125,500 |
|
|
Future Protected Income Base (during 2nd
Waiting Period) |
$144,325 |
Maximum Protected Income Base |
$220,000 |
Contract Value in Year 4 |
$112,000 |
|
|
Withdrawal of 10% |
$11,200 |
|
|
After Withdrawal (10% adjustment) |
|
|
|
Contract Value |
$100,800 |
|
|
Protected Income Base |
$112,950 |
|
|
Future Protected Income Base |
$129,893 |
Maximum Protected Income Base |
$198,000 |
i4LIFE® Account Value before market decline |
$135,000 |
i4LIFE® Account Value after market decline |
$100,000 |
Guaranteed Income Benefit |
$810 |
Regular Income Payment after market decline |
$769 |
Account Value after market decline and Guaranteed Income Benefit
payment |
$99,190 |
PLEASE NOTE: The process to request LTC Benefits is involved and you should carefully consider that you may need substantial
assistance from a family member or other trusted person to claim and obtain LTC Benefits once you are receiving long-term care.
In this regard, our claims-processing department can help you if necessary. You should plan ahead to ensure that a person you
trust has agreed to be responsible for completing the initial process, as well as the ongoing requirements, discussed below. |
Step 1: |
You must first notify us by phone at 800-487-1485, or send written notice to: PO Box 21008, Dept. 0514, Greensboro, NC
27420-1008 of your intent to request LTC Benefits. We will process any notifications or requests for LTC Benefits submitted
by you, or on your behalf by your legally authorized representative, which may include a court-appointed conservator or an
individual acting under a valid power of attorney. Before starting the eligibility process we will verify that the first contract
anniversary has passed. |
Step 2: |
Once we receive notification of your intent to request LTC Benefits, we will provide you with claims forms which will be
used to determine your initial eligibility to receive LTC Benefits. |
Step 3: |
You must complete and submit the claims forms. This requires that you have a Licensed Health Care Practitioner certify in a
written assessment that you are Chronically Ill and complete a Plan of Care for you, which is a written plan of care that is
developed based on your written assessment and specifies the type, frequency and duration of all Long-Term Care Services
you will need. |
Step 4: |
We will determine your eligibility based on the 1) assessment; 2) Plan of Care; and 3) whether you have been or will be
receiving Long-Term Care Services covered by the LTC Rider due to you being Chronically Ill. Once we have determined
your eligibility for benefits, we will send you a Request for Benefits form to be completed by you in order to receive LTC
Benefits. |
Step 5: |
You must submit a Request for Benefits form within 90 days after we have determined that you are eligible for LTC Benefits.
The Request for Benefits form will be used to pay LTC Benefits for a period of up to three months. |
Step 6: |
You must satisfy the 90 day deductible period before any LTC Benefits will be paid. The 90-day deductible period is
measured from the date you first receive Long-Term Care Services. See the Deductible Period paragraph later in this
section. |
A Licensed Health Care Practitioner is a physician (as defined in Section 1861(r)(1) of the Social Security Act, as amended); a
registered professional nurse; a licensed social worker; or another professional individual who meets the requirements prescribed
by the United States Secretary of the Treasury. |
The six Activities of Daily Living are: | |
1. |
Bathing – the ability to wash oneself by sponge bath, or in either a tub or shower, including the task of getting into or out of
the tub or shower. |
2. |
Continence – the ability to maintain control of bowel and bladder function, the ability to perform associated personal
hygiene (including caring of a catheter or colostomy bag). |
3. |
Dressing – the ability to put on or take off all items of clothing and any necessary braces, fasteners or artificial limbs. |
4. |
Eating – the ability to feed oneself by getting food into the body from a receptacle (such as plate, cup or table) or by a
feeding tube or intravenously. |
5. |
Toileting – the ability to get to and from the toilet, get on or off the toilet, and perform associated personal hygiene. |
6. |
Transferring – the ability to move oneself into or out of a bed, chair or wheelchair. |
Please Note: The amount you request in LTC Benefits may be more or less that your actual expenses for Long-Term Care
Services. The LTC Rider is not a reimbursement plan and does not depend on your actual expenses. However, if you receive
amounts in excess of the IRS limit, those amounts may be taxable unless you have actually incurred long-term care expenses of
that amount. See General Provisions – Federal Taxation. |
Every Three Months: |
You must submit a new Request for Benefits form, which must be received by us no earlier than 30 days prior
to the end of the current three-month period for which you are receiving LTC Benefits. We will provide you
with a new Request for Benefits form prior to the end of the current three-month period. If a new Request for
Benefits form is not submitted prior to the end of the current three-month period for which you are receiving
LTC Benefits, we will automatically pay the LTC Benefit that you are receiving for an additional month. If you
do not want to receive this payment you must contact us either by phone or in writing at the address or
phone number provided above. LTC Benefits paid during that month will be equal to the amount of the most
recent LTC Benefit payment paid to you. If we do not receive a Request for Benefits form within 90 days after
the three-month period for which LTC Benefits were previously requested, you will have to reestablish your
eligibility to receive benefits. Request for Benefits form are always available by contacting us at 800-487-
1485. |
Every Year: |
At least once every 12 months after we have established your initial benefit eligibility, a Licensed Health Care
Practitioner must (1) complete a new assessment on a form provided by us and again certify that you are
Chronically Ill, and that you are expected to remain Chronically Ill for at least 90 days, and (2) either prescribe
a new Plan of Care, or reconfirm the existing Plan of Care. We will provide you with a new assessment form
prior to the end of the current twelve-month period. The appropriate forms are always available by contacting
us at 800-487-1485. |
Acceleration Benefit | |
• |
First payments made under the LTC Rider |
• |
Deducted from your Contract Value |
• |
Equals your initial Gross Purchase Payment and any subsequent Gross Purchase Payments made in the first 90 days |
• |
Paid monthly up to a monthly maximum amount (referred to as Maximum Monthly Level Benefit which is described in the
Determining LTC Benefits-Maximum Monthly Level Benefit section) |
• |
Payments reduce the LTC Guaranteed Amount and Acceleration Benefit |
• |
If the Contract Value is reduced to zero, benefits are paid by us from our general account |
• |
Not affected by investment results |
|
|
Extension Benefit | |
• |
Second payments made under the LTC Rider once Acceleration Benefit is reduced to zero |
• |
Paid by us from our general account |
• |
Equals double the Acceleration Benefit as of the 90th day after the contract date |
• |
Paid monthly up to a monthly maximum amount (referred to as Maximum Monthly Level Benefit which is described in the
Determining LTC Benefits-Maximum Monthly Level Benefit section) |
• |
Payments reduce the Extension Benefit |
• |
Not affected by investment results |
Growth Benefit | |
• |
May be purchased for an additional cost |
• |
Increases the LTC Guaranteed Amount annually by the amount of investment gain, if any, in the Subaccounts and any fixed
account |
• |
Payments made in addition to Acceleration Benefit and Extension Benefit payments |
• |
Deducted from your Contract Value |
• |
Paid monthly up to a monthly maximum amount that is different from the monthly maximum amounts applicable to the
Acceleration Benefit and Extension Benefit and that may increase but will never decrease based upon investment performance |
• |
Payments reduce the LTC Guaranteed Amount and Growth Benefit |
• |
If the Contract Value is reduced to zero, LTC benefits are paid by us from our general account |
• |
Each annual step-up is not affected by subsequent investment results |
|
|
Withdrawals | |
• |
Permitted any time in addition to LTC Benefit payments |
Withdrawals | |
• |
Unless the Growth Benefit has been elected, will not decrease LTC Benefits (but will reduce Contract Value) to the extent annual
withdrawals are less than or equal to 5% of the excess amount, if any, of the Contract Value over the LTC Guaranteed Amount as
of the immediately preceding contract anniversary |
• |
The amount of any withdrawal that exceeds 5% of the excess amount of the Contract Value over the LTC Guaranteed Amount
will be an Excess Withdrawal (i.e., if the LTC Guaranteed Amount is greater than or equal to the Contract Value on any contract
anniversary, any withdrawal will be an Excess Withdrawal) |
• |
If the Growth Benefit has been elected, ANY withdrawal is an Excess Withdrawal |
• |
Excess Withdrawals result in proportional reductions to all LTC Benefits by the same percentage that the Excess Withdrawal
reduces the Contract Value |
• |
Thus, if you purchase the Growth Benefit option, any withdrawal will be an Excess Withdrawal (unless you are age 76 or the
maximum LTC Guaranteed Amount limit of $800,000 has been reached, and your Contract Value on the immediately preceding
contract anniversary exceeds the LTC Guaranteed Amount) |
Acceleration Benefit Duration = the period of time over which Acceleration Benefits are paid. If you have not received LTC Benefits
prior to the fifth contract anniversary, the minimum Acceleration Benefit Duration will be 24 months (i.e., 2 years). |
Acceleration Benefit = the initial Purchase Payment, plus each subsequent Purchase Payment made within the first 90 days after
the contract date, less Excess Withdrawals (adjusted as described in this discussion), less Acceleration Benefit payments. If you
have not elected the Growth Benefit, the LTC Guaranteed Amount equals the Acceleration Benefit. |
Excess Withdrawals will reduce the LTC Guaranteed Amount and Acceleration Benefit by the same percentage that the Excess
Withdrawal reduces the Contract Value. |
Extension Benefit Duration = the period of time over which Extension Benefits are paid. The Extension Benefit Duration is initially
twice the length of the Acceleration Benefit Duration. If you have not received LTC Benefits prior to the fifth contract anniversary,
the minimum Extension Benefit Duration will be 48 months (i.e., 4 years). |
Extension Benefit = twice the initial Acceleration Benefit (Gross Purchase Payments within the first 90 days after the contract
date), less Excess Withdrawals (adjusted as described in this discussion), less Extension Benefit payments. |
Excess Withdrawals will reduce the LTC Guaranteed Amount and Extension Benefit by the same percentage that the Excess
Withdrawal reduces the Contract Value. |
Example: The following example shows the calculation of the LTC Guaranteed Amount, the Acceleration Benefit and the Extension
Benefit as of the contract date, and the recalculation of those amounts after a subsequent Gross Purchase Payment is made prior
to the 90th day after the contract date. | ||
Initial Gross Purchase Payment January 1 (contract date equals January 1): |
$100,000 | |
Contract Value January 1: |
$100,000 | |
LTC Guaranteed Amount January 1 (equals initial Gross Purchase Payment): |
$100,000 | |
Acceleration Benefit January 1 (equals LTC Guaranteed Amount): |
$100,000 | |
Extension Benefit January 1 (2 x $100,000 Acceleration Benefit): |
$200,000 | |
Contract Value February 1 prior to subsequent Gross Purchase Payment: |
$110,000 | |
Subsequent Purchase Payment received February 1: |
$100,000 | |
LTC Guaranteed Amount after subsequent Purchase Payment |
| |
|
($100,000 LTC Guaranteed Amount + $100,000 subsequent Gross Purchase Payment made within 90 days of
contract date): |
$200,000 |
Acceleration Benefit after subsequent Gross Purchase Payment: |
$200,000 | |
Extension Benefit after subsequent Gross Purchase Payment |
| |
|
(2 x $200,000 Acceleration Benefit): |
$400,000 |
Contract Value after additional Gross Purchase Payment: |
$210,000 |
Maximum Monthly Level Benefit = the remaining Acceleration Benefit divided by the number of months of remaining Acceleration
Benefit Duration. For example, if the Acceleration Benefit is $200,000 and the Acceleration Benefit Duration as of the fifth contract
anniversary was 24 months, the Maximum Monthly Level Benefit would be $8,333.33 ($200,000/24). |
IMPORTANT NOTE: |
We designed the LTC Rider to function most optimally if you do not start receiving LTC Benefits until on or after the fifth contract
anniversary. After the fifth contract anniversary, you can maximize your monthly LTC Benefit payments and receive those
payments over the shortest period of time (which means you will have a shorter period of time to access the money we pay from
our general account during the Extension Benefit period). This discussion assumes that you do not begin taking LTC Benefit
payments until after the fifth contract anniversary. However, because we wanted to provide you with the flexibility to begin
taking LTC Benefit payments prior to the fifth contract anniversary if the need arises, we will highlight the impact of taking LTC
Benefit payments earlier in a later section. See “Determining LTC Benefits – Electing to Receive LTC Benefits Before the Fifth
Contract Anniversary.” |
Type of Long-Term Care Services |
Amount of Monthly Benefit You Can Request |
If you are residing in a nursing home or are receiving hospice care: |
You may request an amount up to the Maximum Monthly Level
Benefit amount. Contractowners with contracts issued in certain
states not listed below may also request up to the Maximum
Monthly Level Benefit amount if they are in an assisted living
facility. |
If you are eligible and qualify for other qualified Long-Term Care
Services (such as but not limited to home health care, adult day
care, assisted living services), but are not residing in a nursing
home or receiving hospice care: |
You may request only up to 50% of the Maximum Monthly Level
Benefit amount*. If upon commencement of a month you qualify to
receive up to 50% of the Maximum Monthly Level Benefit amount
and during that month you enter a nursing home or start to receive
hospice care, you will qualify to receive up to 100% of the
Maximum Monthly Level Benefit amount the following month. |
Example: The following is an example of how taking less than the Maximum Monthly Level Benefit impacts future Maximum
Monthly Level Benefit amounts and extends the Acceleration Benefit Duration and Extension Benefit Duration. This example also
illustrates how the Maximum Monthly Level Benefit does not change after the fifth Contract Year. Assume LTC Benefit payments
begin after the fifth contract anniversary and the owner receives 50% of the Maximum Monthly Level Benefit each month. | ||
On fifth contract anniversary: |
| |
Acceleration Benefit: |
$100,000 | |
Acceleration Benefit Duration: |
24 months | |
Extension Benefit: |
$200,000 | |
Extension Benefit Duration: |
48 months | |
Maximum Monthly Level Benefit ($100,000/24): |
$4,166.67 | |
Monthly LTC Benefit payment (50% of $4,166.67): |
$2,083.33 | |
On the sixth contract anniversary: |
| |
Remaining Acceleration Benefit: |
| |
|
($100,000 – LTC Benefit payments of $25,000 ($2,083.33 x 12)) |
$75,000 |
Remaining Acceleration Benefit Duration |
|
|
(assuming the Contractowner continues to receive 50% of the Maximum Monthly Level Benefit): ($75,000 /
$2,083.33) |
36 months |
Remaining Acceleration Benefit Duration |
| |
|
(if the Contractowner begins receiving 100% of the Maximum Monthly Level Benefit): ($75,000 / $4,166.67) |
18 months |
Remaining Extension Benefit: |
$200,000 | |
Remaining Extension Benefit Duration |
| |
|
(assuming the Contractowner continues to receive 50% of the Maximum Monthly Level Benefit each year):
($200,000 / $2,083.33) |
96 months |
Remaining Acceleration Benefit Duration |
| |
|
(if the Contractowner begins receiving 100% of the Maximum Monthly Level Benefit): ($200,000 /
$4,166.67) |
48 months |
Automatic Step-Ups = On each contract anniversary, the LTC Guaranteed Amount will automatically step up to the Contract Value
as of the contract anniversary if: | |
• |
The Covered Life is still living and under age 76; |
• |
The Contract Value on that contract anniversary is greater than the LTC Guaranteed Amount; and |
• |
The maximum LTC Guaranteed Amount limit has never been reached. |
Excess Withdrawals will reduce the LTC Guaranteed Amount and Growth Benefit by the same percentage that the Excess
Withdrawal reduces the Contract Value. |
Example: Following is an example of how the automatic step-ups will work through the first three contract anniversaries
(assuming no withdrawals). | ||
Total Gross Purchase Payments added to the Contract as of 90th day after the contract date: |
$200,000 | |
LTC Guaranteed Amount as of 90th day after the contract date equals total Purchase Payments made into the
Contract: |
$200,000 | |
Acceleration Benefit as of 90th day after the contract date: |
$200,000 | |
Total Contract Value on first contract anniversary reflecting investment gain: |
$225,000 | |
New LTC Guaranteed Amount on first contract anniversary: |
| |
|
(LTC Guaranteed Amount steps up since $225,000 is greater than LTC Guaranteed Amount of $200,000) |
$225,000 |
Growth Benefit on first contract anniversary |
| |
|
($225,000 LTC Guaranteed Amount - $200,000 Acceleration Benefit): |
$ 25,000 |
Total Contract Value on second contract anniversary reflecting investment loss from previous contract anniversary |
| |
|
($225,000 LTC Guaranteed Amount does not change as the Contract Value of $218,000 is less; $25,000
Growth Benefit does not change): |
$218,000 |
Total Contract Value on third contract anniversary reflecting investment gain from previous contract anniversary: |
$240,000 | |
New LTC Guaranteed Amount on third contract anniversary |
| |
|
(LTC Guaranteed Amount steps up as $240,000 is greater than LTC Guaranteed Amount of $225,000): |
$240,000 |
Growth Benefit on third contract anniversary |
| |
|
($240,000 LTC Guaranteed Amount - $200,000 Acceleration Benefit): |
$ 40,000 |
The Maximum Monthly Growth Benefit amount = [i ÷ ((ii + iii) ÷ iv)] where: | |
(i) |
equals the Growth Benefit on the contract anniversary; |
(ii) |
equals any remaining Acceleration Benefit on the contract anniversary; |
(iii) |
equals any remaining Extension Benefit on the contract anniversary; and |
(iv) |
equals the Maximum Monthly Level Benefit amount on the contract anniversary. |
Maximum Monthly LTC Benefit amount = the Maximum Monthly Level Benefit amount plus the Maximum Monthly Growth Benefit
amount |
Type of Long-Term Care Services |
Amount of Monthly Benefit You Can Request |
If you are residing in a nursing home or are receiving hospice care: |
You may request an amount up to the Maximum Monthly LTC
Benefit amount. Contractowners with contracts issued in certain
states not listed below may also request up to the Maximum
Monthly LTC Benefit amount if they are in an assisted living facility. |
If you are eligible and qualify for other qualified Long-Term Care
Services (such as but not limited to home health care, adult day
care, assisted living services), but are not residing in a nursing
home or receiving hospice care: |
You may request only up to 50% of the Maximum Monthly LTC
Benefit amount*. If upon commencement of a month you qualify to
receive up to 50% of the Maximum Monthly LTC Benefit amount
and during that month you enter a nursing home or start to receive
hospice care, you will qualify to receive up to 100% of the
Maximum Monthly LTC Benefit amount the following month. |
Example: The following is an example of how the Maximum Monthly Growth Benefit amount, Maximum Monthly Level Benefit
amount and the Maximum Monthly LTC Benefit are calculated on the fifth contract anniversary with growth of the Contract Value
from investment gains of $20,000 and assuming $100,000 Gross Purchase Payments were made prior to 90th day after the
contract date. | ||
Acceleration Benefit on fifth contract anniversary: |
$100,000 | |
Extension Benefit on fifth contract anniversary: |
$200,000 | |
Contract Value on fifth contract anniversary: |
$120,000 |
LTC Guaranteed Amount on fifth contract anniversary steps-up to Contract Value of $120,000: |
$120,000 | |
Growth Benefit |
| |
|
($120,000 LTC Guaranteed Amount - $100,000 Acceleration Benefit): |
$20,000 |
Maximum Monthly Level Benefit |
| |
|
($100,000 ÷ 24 months of Acceleration Benefit Duration left): |
$4,166.67 |
Maximum Monthly Growth Benefit |
| |
|
[$20,000 Growth Benefit ÷ (($100,000 Acceleration Benefit + $200,000 Extension Benefit) ÷ $4,166.67
Maximum Monthly Level Benefit)]: |
$277.78 |
Maximum Monthly LTC Benefit ($4,166.67 + $277.78): |
$4,444.45 |
Example: Continuing the prior example if, during the first six months of the Contract Year, you requested that you be paid the
entire Maximum Monthly Growth Benefit each month and then for the other six months you requested no Growth Benefit, there
will be unused Growth Benefit for that Contract Year of $1,666.68 ($277.78 Maximum Monthly Growth Benefit x 6 months). On the
next contract anniversary, the Maximum Monthly Growth Benefit will increase because there was unused Growth Benefit during
the current Contract Year. |
LTC Benefit Duration Chart | |||
Contract Year of First
Request for Maximum
Level Benefit amounts |
Acceleration
Benefit
Duration |
Extension
Benefit
Duration |
Total LTC
Benefit
Duration |
1* |
84 months |
168 months |
252 months |
2 |
72 months |
144 months |
216 months |
3 |
60 months |
120 months |
180 months |
4 |
48 months |
96 months |
144 months |
5 |
36 months |
72 months |
108 months |
6+ |
24 months |
48 months |
72 months |
Maximum Monthly Level Benefit (annualized)
based on when Acceleration Benefit payments begin | ||||||
LTC Benefit
Duration |
Contract
Year |
Acceleration
Benefit
payments
Begin in
Year 2 |
Acceleration
Benefit payments
Begin in
Year 3 |
Acceleration
Benefit payments
Begin in
Year 4 |
Benefit payments
Begin in
Year 5 |
Acceleration
Benefit payments
Begin in
Year 6 |
Acceleration Benefit |
1* |
|
|
|
|
|
|
2 |
$16,667 |
|
|
|
|
|
3 |
$16,667 |
$20,000 |
|
|
|
|
4 |
$16,667 |
$20,000 |
$25,000 |
|
|
|
5 |
$16,667 |
$20,000 |
$25,000 |
$33,000 |
|
|
6 |
$16,667 |
$20,000 |
$25,000 |
$33,000 |
$50,000 |
|
7 |
$16,667 |
$20,000 |
$25,000 |
$33,000 |
$50,000 |
Extension Benefits |
8 |
$16,667 |
$20,000 |
$25,000 |
$33,000 |
$50,000 |
|
9 |
$16,667 |
$20,000 |
$25,000 |
$33,000 |
$50,000 |
|
10 |
$16,667 |
$20,000 |
$25,000 |
$33,000 |
$50,000 |
|
11 |
$16,667 |
$20,000 |
$25,000 |
$33,000 |
$50,000 |
|
12 |
$16,667 |
$20,000 |
$25,000 |
$33,000 |
|
|
13 |
$16,667 |
$20,000 |
$25,000 |
$33,000 |
|
|
14 |
$16,667 |
$20,000 |
$25,000 |
|
|
|
15 |
$16,667 |
$20,000 |
$25,000 |
|
|
|
16 |
$16,667 |
$20,000 |
|
|
|
|
17 |
$16,667 |
$20,000 |
|
|
|
|
18 |
$16,667 |
|
|
|
|
|
19 |
$16,667 |
|
|
|
|
Example: Continuing the example illustrated by the chart, if you started to receive Acceleration Benefit payments during the third
Contract Year, the Maximum Monthly Level Benefit would be calculated as follows: | ||
LTC Guaranteed Amount as of second contract anniversary: |
$100,000 | |
Acceleration Benefit (equals LTC Guaranteed Amount): |
$100,000 | |
Extension Benefit (2 x Acceleration Benefit): |
$200,000 | |
Acceleration Benefit Duration (from LTC Benefit Duration chart): |
60 months | |
Maximum Monthly Level Benefit |
| |
|
($100,000 Acceleration Benefit ÷ 60 months): |
$1,666.67 or $20,000 per year |
Extension Benefit Duration (from LTC Benefit Duration chart): |
120 months |
By electing to start receiving Acceleration Benefit payments in the third Contract Year, the Maximum Monthly Level Benefit
(annualized) would be $20,000. If the Maximum Monthly Level Benefit were requested and paid out each month, the Acceleration
Benefit Duration would be 60 months (5 years) followed by an Extension Benefit Duration of 120 months (10 years). The total
available Acceleration and Extension Benefits would still be $300,000 ($100,000 Acceleration Benefit plus $200,000 Extension
Benefit). If you waited to start receiving the Acceleration Benefit payments on or after the fifth contract anniversary, the annual
benefit would have been $50,000 paid out over the minimum Acceleration and Extension Benefit Durations of 24 and 48 months
respectively. | ||
If you are receiving the Maximum Monthly Level Benefit each month, the Maximum Monthly Level Benefit will not change the
following Contract Year. If you receive less than the Maximum Monthly Level Benefit amount in any Contract Year prior to the
fifth contract anniversary, the Maximum Monthly Level Benefit will be recalculated on the contract anniversary and will increase.
In addition, the minimum Extension Benefit Duration will be recalculated on the contract anniversary and will decrease due to the
higher Maximum Monthly Level Benefit amount. The Extension Benefit Duration will be recalculated to equal the Extension
Benefit divided by the recalculated Maximum Monthly Level Benefit. |
Example: Continuing the previous example, the following is an example of how the Maximum Monthly Level Benefit amount and
the minimum Extension Benefit Duration are recalculated on the third contract anniversary where less than the Maximum Monthly
Level Benefit amount has been requested. The example assumes the Level Benefit option has been chosen. The $100,000 LTC
Guaranteed Amount as of the second contract anniversary has been reduced by Acceleration Benefit payments of only $10,000
(paid in the third Contract Year) of the available annual amount of $20,000. | ||
LTC Guaranteed Amount as of the third contract anniversary |
| |
|
($100,000 - $10,000 LTC Benefit payment in prior Contract Year): |
$90,000 |
Acceleration Benefit (equals the LTC Guaranteed Amount): |
$90,000 | |
Extension Benefit (has not been reduced as no Extension Benefits have been paid): |
$200,000 | |
Acceleration Benefit Duration: |
48 months | |
Maximum Monthly Level Benefit |
| |
|
($90,000 Acceleration Benefit ÷ 48 months): |
$1,875.00 or $22,500 per year |
Extension Benefit Duration |
| |
|
($200,000 Extension Benefit ÷ $1,875 Maximum Monthly Level Benefit): |
107 months |
The remaining Acceleration Benefit Duration after the third contract anniversary is 48 months. The new Maximum Monthly Level
Benefit amount increases to $22,500 (annualized) and the Extension Benefit Duration decreases to 107 months due to receiving
less than the Maximum Monthly Level Benefit amount. Only one-half of the Maximum Monthly Level Benefit amount ($937.50) will
be available to you if you are not confined to a nursing home or are not receiving hospice care. | ||
On the fifth contract anniversary, we will recalculate the Maximum Monthly Level Benefit amount for the last time and it will not
change thereafter unless you make an Excess Withdrawal. If after the fifth contract anniversary, you receive less than the
Maximum Monthly Level Benefit amount in any given month, the Maximum Monthly Level Benefit amount will not be increased;
but the Acceleration Benefit Duration or Extension Benefit Duration will be increased and will equal the remaining Acceleration
Benefit or Extension Benefit divided by the Maximum Monthly Level Benefit amount. |
Conforming Withdrawal = any withdrawal that does not exceed during a Contract Year the greater of $0 and (a) minus (b) where: | |
(a) |
equals 5% of the difference of the Contract Value over the LTC Guaranteed Amount as of the most recent contract
anniversary (or, prior to the first contract anniversary, the contract date); and |
(b) |
equals all prior withdrawals in that Contract Year. |
More specifically, Excess Withdrawals reduce various benefits in accordance with the following formula: | |
• |
Multiply the benefit being affected (i.e., the Acceleration Benefit) before the Excess Withdrawal by (1 – the Reduction
Percentage due to Excess Withdrawal). |
• |
The Reduction Percentage due to Excess Withdrawal = Excess Withdrawal ÷ Contract Value before the Excess Withdrawal. |
Importantly, this means that the reduction could be more than the dollar amount withdrawn. |
Example: The following example shows how an Excess Withdrawal, in a declining market, reduces the Acceleration Benefit, LTC
Guaranteed Amount, Maximum Monthly Level Benefit, Extension Benefit, Maximum Monthly Growth Benefit and Growth Benefit.
The example assumes you have chosen the Growth Benefit option. Since the LTC Guaranteed Amount is greater than the Contract
Value, any withdrawal is an Excess Withdrawal and there is no Conforming Withdrawal amount. | ||
LTC Guaranteed Amount: |
$320,000 | |
Acceleration Benefit: |
$120,000 | |
Extension Benefit: |
$240,000 | |
Maximum Monthly Level Benefit: |
$5,000 | |
Growth Benefit: |
$200,000 | |
Maximum Monthly Growth Benefit: |
$2,778 | |
Excess Withdrawal from Contract Value: |
$4,000 | |
Contract Value immediately prior to Excess Withdrawal: |
$85,000 | |
Reduction Percentage due to Excess Withdrawal |
| |
|
[$4,000 Excess Withdrawal ÷ $85,000 Contract Value]: |
4.71% |
LTC Guaranteed Amount after Excess Withdrawal |
| |
|
[$320,000 LTC Guaranteed Amount x (1-4.71%)]: |
$304,928 |
Extension Benefit after Excess Withdrawal |
| |
|
[$240,000 x (1-4.71%)]: |
$228,696 |
Maximum Monthly Level Benefit after Excess Withdrawal |
| |
|
[$5,000 Maximum Monthly Level Benefit x (1-4.71%)]: |
$4,765 |
Growth Benefit after Excess Withdrawal [$200,000 Growth Benefit x (1-4.71%)]: |
$190,580 | |
Maximum Monthly Growth Benefit after Excess Withdrawal |
| |
|
[$2,778 Maximum Monthly Growth Benefit x (1-4.71%)]: |
$2,647 |
Age on
Contract Date |
Percent Over Initial
Charge |
Age |
Percent Over Initial
Charge |
45 – 49 |
130% |
66 |
48% |
50 – 54 |
110% |
67 |
46% |
55 – 59 |
90% |
68 |
44% |
60 |
70% |
69 |
42% |
61 |
66% |
70 |
40% |
62 |
62% |
71 |
38% |
63 |
58% |
72 |
36% |
Age on
Contract Date |
Percent Over Initial
Charge |
Age |
Percent Over Initial
Charge |
64 |
54% |
73 |
34% |
65 |
50% |
74 |
32% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate |
59 – 64 |
4.25% |
59 – 64 |
4.10% |
65 – 69 |
6.00% |
65 – 69 |
5.50% |
70 – 74 |
6.15% |
70 – 74 |
5.60% |
75+ |
6.30% |
75+ |
5.85% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate |
59 – 64 |
4.25% |
59 – 64 |
4.10% |
65 – 69 |
5.85% |
65 – 69 |
5.50% |
70 – 74 |
6.15% |
70 – 74 |
5.60% |
75+ |
6.30% |
75+ |
5.85% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate |
59 – 64 |
4.25% |
59 – 64 |
4.10% |
65 – 69 |
6.00% |
65 – 69 |
5.50% |
70 – 74 |
6.05% |
70 – 74 |
5.60% |
75+ |
6.30% |
75+ |
5.85% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate |
59 – 64 |
4.25% |
59 – 64 |
4.10% |
65 – 69 |
5.65% |
65 – 69 |
5.20% |
70 – 74 |
6.05% |
70 – 74 |
5.60% |
75+ |
6.30% |
75+ |
5.85% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate |
59 – 64 |
4.00% |
59 – 64 |
3.60% |
65 – 69 |
5.50% |
65 – 69 |
5.00% |
70 – 74 |
5.60% |
70 – 74 |
5.10% |
75+ |
5.75% |
75+ |
5.25% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate |
59 – 64 |
4.75% |
59 – 64 |
4.35% |
65 – 69 |
6.10% |
65 – 69 |
5.60% |
70 – 74 |
6.30% |
70 – 74 |
5.85% |
75+ |
6.55% |
75+ |
6.10% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate |
59 – 64 |
4.75% |
59 – 64 |
4.35% |
65 – 69 |
6.00% |
65 – 69 |
5.60% |
70 – 74 |
6.30% |
70 – 74 |
5.85% |
75+ |
6.55% |
75+ |
6.10% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate |
59 – 64 |
4.75% |
59 – 64 |
4.35% |
65 – 69 |
6.10% |
65 – 69 |
5.60% |
70 – 74 |
6.30% |
70 – 74 |
5.85% |
75+ |
6.55% |
75+ |
6.10% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate |
59 – 64 |
4.75% |
59 – 64 |
4.35% |
65 – 69 |
5.90% |
65 – 69 |
5.45% |
70 – 74 |
6.30% |
70 – 74 |
5.85% |
75+ |
6.55% |
75+ |
6.10% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate |
59 – 64 |
4.50% |
59 – 64 |
4.00% |
65 – 69 |
5.75% |
65 – 69 |
5.25% |
70 – 74 |
5.85% |
70 – 74 |
5.35% |
75+ |
6.00% |
75+ |
5.50% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.70% |
5.20% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
7.65% |
7.10% |
65 – 69 |
4.50% |
4.25% |
70 – 74 |
7.90% |
7.15% |
70 – 74 |
4.50% |
4.25% |
75+ |
8.00% |
7.40% |
75+ |
4.50% |
4.25% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.30% |
4.80% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
7.25% |
6.60% |
65 – 69 |
4.00% |
4.00% |
70 – 74 |
7.50% |
6.75% |
70 – 74 |
4.00% |
4.00% |
75+ |
7.60% |
7.00% |
75+ |
4.00% |
4.00% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.30% |
4.80% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
7.00% |
6.35% |
65 – 69 |
4.00% |
4.00% |
70 – 74 |
7.15% |
6.50% |
70 – 74 |
4.00% |
4.00% |
75+ |
7.25% |
6.75% |
75+ |
4.00% |
4.00% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.65% |
5.25% |
59 – 64 |
3.50% |
3.25% |
65 – 69 |
7.50% |
7.10% |
65 – 69 |
5.00% |
4.50% |
70 – 74 |
7.75% |
7.15% |
70 – 74 |
5.00% |
4.50% |
75+ |
7.85% |
7.50% |
75+ |
5.00% |
4.50% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.65% |
5.15% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
7.50% |
6.85% |
65 – 69 |
4.00% |
4.00% |
70 – 74 |
7.75% |
7.00% |
70 – 74 |
4.00% |
4.00% |
75+ |
7.85% |
7.25% |
75+ |
4.00% |
4.00% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.65% |
5.15% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
7.25% |
6.85% |
65 – 69 |
4.00% |
4.00% |
70 – 74 |
7.40% |
7.00% |
70 – 74 |
4.00% |
4.00% |
75+ |
7.50% |
7.25% |
75+ |
4.00% |
4.00% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.70% |
5.20% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
8.30% |
7.90% |
65 – 69 |
3.50% |
3.25% |
70 – 74 |
8.55% |
8.10% |
70 – 74 |
3.50% |
3.25% |
75+ |
8.80% |
8.30% |
75+ |
3.50% |
3.25% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.30% |
4.80% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
8.30% |
7.90% |
65 – 69 |
3.50% |
3.25% |
70 – 74 |
8.55% |
8.10% |
70 – 74 |
3.50% |
3.25% |
75+ |
8.80% |
8.30% |
75+ |
3.50% |
3.25% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.30% |
4.80% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
8.30% |
7.90% |
65 – 69 |
3.00% |
3.00% |
70 – 74 |
8.55% |
8.10% |
70 – 74 |
3.00% |
3.00% |
75+ |
8.80% |
8.30% |
75+ |
3.00% |
3.00% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.30% |
4.80% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
8.00% |
7.70% |
65 – 69 |
3.00% |
3.00% |
70 – 74 |
8.25% |
7.85% |
70 – 74 |
3.00% |
3.00% |
75+ |
8.40% |
8.00% |
75+ |
3.00% |
3.00% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.65% |
5.25% |
59 – 64 |
3.50% |
3.25% |
65 – 69 |
8.50% |
8.10% |
65 – 69 |
3.50% |
3.25% |
70 – 74 |
8.75% |
8.30% |
70 – 74 |
3.50% |
3.25% |
75+ |
9.00% |
8.50% |
75+ |
3.50% |
3.25% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.65% |
5.15% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
8.50% |
8.10% |
65 – 69 |
3.50% |
3.25% |
70 – 74 |
8.75% |
8.30% |
70 – 74 |
3.50% |
3.25% |
75+ |
9.00% |
8.50% |
75+ |
3.50% |
3.25% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.65% |
5.15% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
8.50% |
8.10% |
65 – 69 |
3.00% |
3.00% |
70 – 74 |
8.75% |
8.30% |
70 – 74 |
3.00% |
3.00% |
75+ |
9.00% |
8.50% |
75+ |
3.00% |
3.00% |
TABLE A |
TABLE B | ||||
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
Age
(younger of you and
your spouse’s age) |
Single Life
Option |
Joint Life
Option |
59 – 64 |
5.65% |
5.15% |
59 – 64 |
3.00% |
3.00% |
65 – 69 |
8.25% |
8.00% |
65 – 69 |
3.00% |
3.00% |
70 – 74 |
8.50% |
8.15% |
70 – 74 |
3.00% |
3.00% |
75+ |
8.65% |
8.30% |
75+ |
3.00% |
3.00% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
2.50% |
55 – 58 |
2.25% |
59 – 64 |
4.35% |
59 – 64 |
3.85% |
65 – 69 |
5.50% |
65 – 69 |
4.75% |
70 – 74 |
5.50% |
70 – 74 |
4.85% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
75+ |
5.65% |
75+ |
5.15% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
2.50% |
55 – 58 |
2.25% |
59 – 64 |
4.35% |
59 – 64 |
3.85% |
65 – 69 |
5.40% |
65 – 69 |
4.65% |
70 – 74 |
5.50% |
70 – 74 |
4.75% |
75+ |
5.65% |
75+ |
5.15% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
2.50% |
55 – 58 |
2.25% |
59 – 64 |
3.50% |
59 – 64 |
3.00% |
65+ |
5.15% |
65+ |
4.65% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
2.50% |
55 – 58 |
2.25% |
59 – 64 |
3.50% |
59 – 64 |
3.00% |
65+ |
5.00% |
65+ |
4.50% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
2.50% |
55 – 58 |
2.25% |
59 – 64 |
3.50% |
59 – 64 |
3.00% |
65+ |
4.75% |
65+ |
4.25% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
2.75% |
55 – 58 |
2.50% |
59 – 64 |
3.75% |
59 – 64 |
3.25% |
65 – 69 |
5.00% |
65 – 69 |
4.50% |
70 – 74 |
5.00% |
70 – 74 |
4.50% |
75+ |
5.00% |
75+ |
4.50% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
3.20% |
55 – 58 |
2.90% |
59 – 64 |
4.10% |
59 – 64 |
4.00% |
65 – 69 |
5.35% |
65 – 69 |
5.00% |
70 – 74 |
5.45% |
70 – 74 |
5.10% |
75+ |
5.60% |
75+ |
5.20% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
3.50% |
55 – 58 |
3.20% |
59 – 64 |
4.40% |
59 – 64 |
4.10% |
65 – 69 |
5.50% |
65 – 69 |
5.20% |
70 – 74 |
5.60% |
70 – 74 |
5.30% |
75+ |
5.70% |
75+ |
5.40% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
3.75% |
55 – 58 |
3.75% |
59 – 64 |
4.50% |
59 – 64 |
4.25% |
65 – 69 |
5.60% |
65 – 69 |
5.50% |
70 – 74 |
5.75% |
70 – 74 |
5.60% |
75+ |
6.00% |
75+ |
5.75% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
3.75% |
55 – 58 |
3.75% |
59 – 64 |
4.50% |
59 – 64 |
4.25% |
65 – 69 |
5.75% |
65 – 69 |
5.50% |
70 – 74 |
5.80% |
70 – 74 |
5.60% |
75+ |
6.00% |
75+ |
5.75% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
3.75% |
55 – 58 |
3.75% |
59 – 64 |
4.50% |
59 – 64 |
4.25% |
65 – 69 |
5.60% |
65 – 69 |
5.50% |
70 – 74 |
5.75% |
70 – 74 |
5.60% |
75+ |
6.00% |
75+ |
5.75% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
3.75% |
55 – 58 |
3.75% |
59 – 64 |
4.50% |
59 – 64 |
4.25% |
65 – 74 |
5.60% |
65 – 74 |
5.35% |
75+ |
6.00% |
75+ |
5.75% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
3.50% |
55 – 58 |
3.50% |
59 – 64 |
4.50% |
59 – 64 |
4.25% |
65 – 74 |
5.50% |
65 – 74 |
5.25% |
75+ |
5.85% |
75+ |
5.60% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
3.50% |
55 – 58 |
3.50% |
59 - 64 |
4.25% |
59 – 64 |
4.00% |
65+ |
5.25% |
65+ |
5.00% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate |
55 – 58 |
3.50% |
55 – 58 |
3.50% |
59 - 64 |
4.00% |
59 – 64 |
4.00% |
65+ |
5.00% |
65 – 74 |
4.50% |
|
|
75+ |
5.00% |
Single & Joint Life Option* |
Single & Joint Life Option |
Age |
Protected Annual
Income rate |
55 – 58 |
3.50% |
59 - 64 |
4.00% |
65+ |
5.00% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
4.00% |
55 – 64 |
4.00% |
59+ |
5.00% |
65+ |
5.00% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income
rate |
55 – 58 |
3.00% |
55 – 58 |
3.00% |
59 - 64 |
3.50% |
59 – 64 |
3.50% |
65 – 69 |
4.50% |
65 – 69 |
4.00% |
70+ |
5.00% |
70+ |
4.50% |
Single & Joint Life Option* |
Single & Joint Life Option |
Age |
Protected Annual
Income rate |
55 – 58 |
3.00% |
59 – 64 |
3.50% |
65 – 69 |
4.50% |
70+ |
5.00% |
Single Life Option |
Joint Life Option* | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income rate |
55 – 58 |
3.50% |
55 – 64 |
3.50% |
59 – 64 |
4.00% |
65 – 69 |
4.50% |
65 – 69 |
4.50% |
70+ |
5.00% |
70+ |
5.00% |
|
|
Single Life Option |
Joint Life Option* | ||
Age |
Protected Annual Income
rate |
Age
(younger of you and
your spouse’s age) |
Protected Annual Income rate |
55 – 58 |
4.00% |
55 – 64 |
4.00% |
59+ |
5.00% |
65+ |
5.00% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate* |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate* |
55 – 58 |
2.25% |
55 – 58 |
2.00% |
59 – 64 |
3.75% |
59 – 64 |
3.25% |
65 – 69 |
5.00% |
65 – 69 |
4.35% |
70 – 74 |
5.10% |
70 – 74 |
4.45% |
75+ |
5.25% |
75+ |
4.75% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate* |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate* |
55 – 58 |
2.25% |
55 – 58 |
2.00% |
59 – 64 |
3.75% |
59 – 64 |
3.25% |
65 – 69 |
5.00% |
65 – 69 |
4.25% |
70 – 74 |
5.10% |
70 – 74 |
4.35% |
75+ |
5.25% |
75+ |
4.75% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate* |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate* |
55 – 58 |
2.25% |
55 – 58 |
2.00% |
59 – 64 |
3.25% |
59 – 64 |
3.00% |
65 – 74 |
4.75% |
65 – 74 |
4.15% |
75+ |
5.00% |
75+ |
4.50% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate* |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate* |
55 – 58 |
2.25% |
55 – 58 |
2.00% |
59 – 64 |
3.25% |
59 – 64 |
3.00% |
65+ |
4.75% |
65+ |
4.15% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate* |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate* |
55 – 58 |
2.25% |
55 – 58 |
2.00% |
59 – 64 |
3.25% |
59 – 64 |
3.00% |
65+ |
4.50% |
65+ |
4.00% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate* |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate* |
55 – 58 |
2.50% |
55 – 58 |
2.25% |
59 – 64 |
3.50% |
59 – 64 |
3.00% |
65 – 69 |
4.75% |
65 – 69 |
4.25% |
70 – 74 |
4.75% |
70 – 74 |
4.25% |
75+ |
4.75% |
75+ |
4.25% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate* |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate* |
55 – 58 |
3.10% |
55 – 58 |
2.85% |
59 – 64 |
4.00% |
59 – 64 |
3.65% |
65 – 69 |
5.10% |
65 – 69 |
4.65% |
70 – 74 |
5.15% |
70 – 74 |
4.75% |
75+ |
5.55% |
75+ |
5.00% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate* |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate* |
55 – 58 |
3.25% |
55 – 58 |
3.00% |
59 – 64 |
4.15% |
59 – 64 |
3.85% |
65 – 69 |
5.15% |
65 – 69 |
4.85% |
70 – 74 |
5.35% |
70 – 74 |
5.00% |
75+ |
5.55% |
75+ |
5.25% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate* |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate* |
55 – 58 |
3.50% |
55 – 58 |
3.50% |
59 – 64 |
4.25% |
59 – 64 |
4.00% |
65 – 69 |
5.25% |
65 – 69 |
5.15% |
70 – 74 |
5.50% |
70 – 74 |
5.25% |
75+ |
5.75% |
75+ |
5.50% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate* |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate* |
55 – 58 |
3.50% |
55 – 58 |
3.50% |
59 – 64 |
4.25% |
59 – 64 |
4.00% |
65 – 74 |
5.25% |
65 – 74 |
5.00% |
75+ |
5.75% |
75+ |
5.50% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate* |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate* |
55 – 58 |
3.50% |
55 – 58 |
3.50% |
59 – 64 |
4.00% |
59 – 64 |
4.00% |
65 – 74 |
5.00% |
65 – 74 |
4.50% |
75+ |
5.50% |
75+ |
5.00% |
Single Life Option |
Joint Life Option | ||
Age |
Protected Annual
Income rate* |
Age
(younger of you and
your spouse’s age) |
Protected Annual
Income rate* |
55 – 58 |
3.50% |
55 – 58 |
3.50% |
59 – 64 |
4.00% |
59 – 64 |
4.00% |
65+ |
5.00% |
65 – 74 |
4.50% |
|
|
75+ |
5.00% |
TABLE A |
TABLE B | ||||
Age |
Single Life
Option |
Joint Life
Option* |
Age |
Single Life
Option |
Joint Life
Option* |
59 – 64 |
5.00% |
4.50% |
59 – 64 |
3.00% |
2.75% |
65 – 69 |
7.50% |
7.00% |
65 – 69 |
3.00% |
2.75% |
70 – 74 |
8.00% |
7.50% |
70 – 74 |
3.00% |
2.75% |
75 – 79 |
8.00% |
7.50% |
75 – 79 |
3.00% |
2.75% |
80 + |
8.00% |
7.50% |
80 + |
3.00% |
2.75% |
TABLE A |
TABLE B | ||||
Age |
Single Life
Option |
Joint Life
Option* |
Age |
Single Life
Option |
Joint Life
Option* |
59 – 64 |
4.50% |
3.60% |
59 – 64 |
3.00% |
2.75% |
65 – 69 |
7.25% |
6.00% |
65 – 69 |
3.00% |
2.75% |
70 – 74 |
7.25% |
6.25% |
70 – 74 |
3.00% |
2.75% |
75 – 79 |
7.75% |
6.50% |
75 – 79 |
3.00% |
2.75% |
80 + |
7.75% |
6.50% |
80 + |
3.00% |
2.75% |
TABLE A |
TABLE B | ||||
Age |
Single Life
Option |
Joint Life
Option* |
Age |
Single Life
Option |
Joint Life
Option* |
55 – 58 |
N/A |
N/A |
55 – 58 |
N/A |
N/A |
59 – 64 |
4.25% |
3.10% |
59 – 64 |
3.00% |
2.75% |
65 – 69 |
7.00% |
5.50% |
65 – 69 |
3.00% |
2.75% |
70 – 74 |
7.00% |
5.75% |
70 – 74 |
3.00% |
2.75% |
75 + |
7.50% |
6.00% |
75 + |
3.00% |
2.75% |
TABLE A |
TABLE B | ||||
Age |
Single Life
Option |
Joint Life
Option* |
Age |
Single Life
Option |
Joint Life
Option* |
55 – 58 |
N/A |
N/A |
55 - 58 |
N/A |
N/A |
59 – 64 |
4.25% |
3.10% |
59 – 64 |
3.00% |
2.75% |
65 – 69 |
6.75% |
5.50% |
65 – 69 |
3.00% |
2.75% |
70 – 74 |
7.00% |
5.75% |
70 – 74 |
3.00% |
2.75% |
75 + |
7.00% |
6.00% |
75 + |
3.00% |
2.75% |
TABLE A |
TABLE B | |||
Age |
Single Life
Option |
Joint Life
Option* |
Age |
Single Life & Joint Life
Option* |
55 – 58 |
N/A |
N/A |
55 – 58 |
N/A |
59 – 64 |
5.25% |
3.00% |
59+ |
3.00% |
65 – 69 |
6.50% |
5.50% |
|
|
70 – 74 |
6.75% |
5.75% |
|
|
75 + |
7.00% |
6.00% |
|
|
TABLE A |
TABLE B | |||
Age |
Single Life
Option |
Joint Life
Option* |
Age |
Single Life & Joint Life
Option* |
55 – 58 |
N/A |
N/A |
55 – 58 |
N/A |
59 – 64 |
5.25% |
3.00% |
59+ |
3.00% |
65 – 69 |
6.25% |
5.75% |
|
|
70 – 74 |
6.50% |
6.00% |
|
|
75 + |
6.75% |
6.25% |
|
|
TABLE A |
TABLE B | |||
Age |
Single Life
Option |
Joint Life
Option* |
Age |
Single Life & Joint Life
Option* |
55 – 58 |
4.50% |
4.00% |
55+ |
3.00% |
59 – 64 |
5.50% |
5.00% |
|
|
65 – 69 |
6.50% |
6.00% |
|
|
70 – 74 |
6.75% |
6.25% |
|
|
75 + |
7.00% |
6.50% |
|
|
TABLE A |
TABLE B | |||
Age |
Single Life
Option |
Joint Life
Option* |
Age |
Single Life & Joint Life
Option* |
55 – 58 |
4.50% |
4.00% |
55+ |
3.00% |
59 – 64 |
5.50% |
5.00% |
|
|
65 – 74 |
6.50% |
6.00% |
|
|
75 + |
7.00% |
6.50% |
|
|
TABLE A |
TABLE B | |||
Age |
Single Life
Option |
Joint Life
Option* |
Age |
Single Life & Joint Life
Option* |
55 – 58 |
4.00% |
3.50% |
55+ |
3.00% |
59 – 64 |
5.00% |
4.50% |
|
|
65 – 74 |
6.00% |
5.50% |
|
|
75 + |
7.00% |
6.50% |
|
|
TABLE A |
TABLE B | |||
Age |
Single Life
Option |
Joint Life
Option* |
Age |
Single Life |
70+ |
6.25% |
N/A% |
70+ |
5.00% |
TABLE A |
TABLE B | |||
Age |
Single Life
Option |
Joint Life
Option* |
Age |
Single Life & Joint Life
Option |
70+ |
7.00% |
N/A |
70+ |
4.00% |
Age |
PAI Rate |
0 – 54 |
4.50% |
55 – 58 |
5.00% |
59 – 69 |
5.50% |
70+ |
6.00% |
Single Life Option |
Joint Life Option | ||
Age |
GIB Percentage* |
Age
(younger of you and
your spouse’s age) |
GIB Percentage* |
Under age 40 |
2.15% |
Under age 40 |
2.15% |
40 – 54 |
2.50% |
40 – 54 |
2.25% |
55 – 58 |
2.50% |
55 – 58 |
2.25% |
59 – 64 |
3.25% |
59 – 64 |
2.75% |
65 – 69 |
4.25% |
65 – 69 |
3.25% |
70 – 74 |
4.50% |
70 – 74 |
3.75% |
75 – 79 |
4.75% |
75 – 79 |
4.00% |
80+ |
4.75% |
80+ |
4.25% |
Single Life Option |
Joint Life Option | ||
Age |
GIB Percentage* |
Age
(younger of you and
your spouse’s age) |
GIB Percentage* |
Under age 40 |
2.00% |
Under age 40 |
2.00% |
40 – 54 |
2.25% |
40 – 54 |
2.00% |
55 – 58 |
2.25% |
55 – 58 |
2.00% |
59 – 64 |
3.00% |
59 – 64 |
2.50% |
65 – 69 |
3.75% |
65 – 69 |
2.75% |
70 – 74 |
4.00% |
70 – 74 |
3.25% |
75 – 79 |
4.25% |
75 – 79 |
3.50% |
80+ |
4.25% |
80+ |
3.75% |
Single Life Option |
Joint Life Option | ||
Age |
GIB Percentage* |
Age
(younger of you and
your spouse’s age) |
GIB Percentage* |
Under age 40 |
2.00% |
Under age 40 |
2.00% |
40 – 54 |
2.25% |
40 – 54 |
2.00% |
55 – 58 |
2.25% |
55 – 58 |
2.00% |
59 – 64 |
3.25% |
59 – 64 |
2.50% |
65 – 69 |
4.00% |
65 – 69 |
2.75% |
70 – 74 |
4.25% |
70 – 74 |
3.25% |
Single Life Option |
Joint Life Option | ||
Age |
GIB Percentage* |
Age
(younger of you and
your spouse’s age) |
GIB Percentage* |
75 – 79 |
4.50% |
75 – 79 |
3.50% |
80+ |
4.50% |
80+ |
3.75% |
Single Life Option |
Joint Life Option | ||
Age |
GIB Percentage* |
Age
(younger of you and
your spouse’s age) |
GIB Percentage* |
Under age 40 |
2.50% |
Under age 40 |
2.50% |
40 – 54 |
3.00% |
40 – 54 |
2.75% |
55 – 58 |
3.25% |
55 – 58 |
3.00% |
59 – 64 |
3.75% |
59 – 64 |
3.50% |
65 – 69 |
4.25% |
65 – 69 |
4.00% |
70 – 74 |
5.00% |
70 – 74 |
4.25% |
75 – 79 |
5.00% |
75 – 79 |
4.75% |
80+ |
5.25% |
80+ |
5.00% |
Single Life Option |
Joint Life Option | ||
Age |
GIB Percentage* |
Age
(younger of you and
your spouse’s age) |
GIB Percentage* |
Under age 40 |
2.50% |
Under age 40 |
2.50% |
40 – 54 |
3.00% |
40 – 54 |
3.00% |
55 – 58 |
3.50% |
55 – 58 |
3.50% |
59 – 64 |
4.00% |
59 – 69 |
4.00% |
65 – 69 |
4.50% |
70 – 74 |
4.50% |
70 – 79 |
5.00% |
75 – 79 |
5.00% |
80+ |
5.50% |
80+ |
5.50% |
Single Life Option |
Joint Life Option | ||
Age |
GIB Percentage* |
Age
(younger of you and
your spouse’s age) |
GIB Percentage* |
Under age 40 |
2.25% |
Under age 40 |
2.25% |
40 – 54 |
2.75% |
40 – 54 |
2.50% |
55 – 58 |
3.00% |
55 – 58 |
2.75% |
59 – 64 |
3.75% |
59 – 64 |
3.25% |
65 – 69 |
4.75% |
65 – 69 |
4.00% |
70 – 74 |
5.25% |
70 – 74 |
4.25% |
75 – 79 |
5.50% |
75 – 79 |
4.50% |
80+ |
5.50% |
80+ |
4.75% |
Single Life Option |
Joint Life Option | ||
Age |
GIB Percentage* |
Age
(younger of you and
your spouse’s age) |
GIB Percentage* |
Under age 40 |
2.00% |
Under age 40 |
2.00% |
40 – 54 |
2.50% |
40 – 54 |
2.20% |
55 – 58 |
2.50% |
55 – 58 |
2.20% |
59 – 64 |
3.25% |
59 – 64 |
2.75% |
65 – 69 |
4.25% |
65 – 69 |
3.50% |
70 – 74 |
4.75% |
70 – 74 |
3.75% |
75 – 79 |
5.00% |
75 – 79 |
4.00% |
80+ |
5.00% |
80+ |
4.25% |
Single Life Option |
Joint Life Option | ||
Age |
GIB Percentage* |
Age
(younger of you and
your spouse’s age) |
GIB Percentage* |
Under age 40 |
2.00% |
Under age 40 |
2.00% |
40 – 54 |
2.50% |
40 – 54 |
2.20% |
55 – 58 |
2.50% |
55 – 58 |
2.20% |
59 – 64 |
3.25% |
59 – 64 |
2.75% |
65 – 69 |
4.00% |
65 – 69 |
3.25% |
70 – 74 |
4.50% |
70 – 74 |
3.50% |
75 – 79 |
4.50% |
75 – 79 |
3.75% |
80+ |
4.50% |
80+ |
4.00% |
Single Life Option |
Joint Life Option | ||
Age |
GIB Percentage* |
Age
(younger of you and
your spouse’s age) |
GIB Percentage* |
Under age 40 |
2.00% |
Under age 40 |
2.00% |
40 – 54 |
2.50% |
40 – 54 |
2.20% |
55 – 58 |
2.50% |
55 – 58 |
2.20% |
59 – 64 |
3.50% |
59 – 64 |
2.75% |
65 – 69 |
4.25% |
65 – 69 |
3.25% |
70 – 74 |
4.75% |
70 – 74 |
3.50% |
75 – 79 |
4.75% |
75 – 79 |
3.75% |
80+ |
4.75% |
80+ |
4.00% |
Single Life Option |
Joint Life Option | ||
Age |
GIB Percentage* |
Age
(younger of you and
your spouse’s age) |
GIB Percentage* |
Under age 40 |
2.50% |
Under age 40 |
2.50% |
40 – 54 |
3.00% |
40 – 54 |
3.00% |
55 – 58 |
3.50% |
55 – 58 |
3.25% |
59 – 64 |
4.00% |
59 – 64 |
3.75% |
65 – 69 |
5.00% |
65 – 69 |
4.25% |
70 – 74 |
5.25% |
70 – 74 |
4.50% |
75 – 79 |
5.50% |
75 – 79 |
5.00% |
80+ |
5.50% |
80+ |
5.25% |
Single Life Option |
Joint Life Option | ||
Age |
Percentage of Account
Value or Protected Income Base* |
Age
(younger of you and
your spouse’s age) |
Percentage of Account
Value or Protected Income Base* |
Under age 40 |
2.50% |
Under age 40 |
2.50% |
40 – 54 |
3.00% |
40 – 54 |
2.75% |
55 – 58 |
3.25% |
55 – 58 |
3.00% |
59 – 64 |
3.75% |
59 – 64 |
3.50% |
65 – 69 |
4.25% |
65 – 69 |
4.00% |
70 – 74 |
5.00% |
70 – 74 |
4.25% |
75 – 79 |
5.00% |
75 – 79 |
4.75% |
80+ |
5.25% |
80+ |
5.00% |
Single Life Option |
Joint Life Option | ||
Age |
GIB Percentage* |
Age
(younger of you and
your spouse’s age) |
GIB Percentage* |
Under age 40 |
2.50% |
Under age 40 |
2.50% |
40 – 54 |
3.00% |
40 – 54 |
3.00% |
55 – 58 |
3.50% |
55 – 58 |
3.50% |
Single Life Option |
Joint Life Option | ||
Age |
GIB Percentage* |
Age
(younger of you and
your spouse’s age) |
GIB Percentage* |
59 – 64 |
4.00% |
59 – 64 |
4.00% |
65 – 69 |
5.00% |
65 – 69 |
4.50% |
70 – 74 |
5.25% |
70 – 74 |
5.00% |
75 – 79 |
5.50% |
75 – 79 |
5.25% |
80+ |
5.50% |
80+ |
5.50% |
Single Life Option |
Joint Life Option | ||
Age |
Percentage of Account
Value or Protected Income Base* |
Age
(younger of you and
your spouse’s age) |
Percentage of Account
Value or Protected Income Base* |
Under age 40 |
2.50% |
Under age 40 |
2.50% |
40 – 54 |
3.00% |
40 – 54 |
3.00% |
55 – 58 |
3.50% |
55 – 58 |
3.50% |
59 – 64 |
4.00% |
59 – 69 |
4.00% |
65 – 69 |
4.50% |
70 – 74 |
4.50% |
70 – 79 |
5.00% |
75 – 79 |
5.00% |
80+ |
5.50% |
80+ |
5.50% |
Single Life Option |
Joint Life Option** | ||
Age |
Percentage of Account
Value, Protected Income Base or
Guaranteed Amount* |
Age
(younger of you and
your spouse’s age) |
Percentage of Account
Value, Protected Income Base or
Guaranteed Amount* |
Under age 40 |
2.00% |
Under age 40 |
2.00% |
40 – 54 |
2.50% |
40 – 54 |
2.50% |
55 – 58 |
3.00% |
55 – 58 |
3.00% |
59 - 64 |
3.50% |
59 – 69 |
3.50% |
65 – 69 |
4.00% |
70 – 74 |
4.00% |
70 – 74 |
4.50% |
75+ |
4.50% |
75+ |
5.00% |
|
|
Single & Joint Life Option* |
Single & Joint Life Option* |
Age |
Percentage of Account
Value or Protected Income Base** |
Under age 40 |
2.50% |
40 – 54 |
3.00% |
55 – 58 |
3.50% |
59 – 64 |
4.00% |
65 – 69 |
4.50% |
Single & Joint Life Option* |
Single & Joint Life Option* |
Age |
Percentage of Account
Value or Protected Income Base** |
70 – 79 |
5.00% |
80+ |
5.50% |
Single & Joint Life Option* |
Single & Joint Life Option* |
Age |
Percentage of Account Value,
Protected Income Base or Guaranteed Amount** |
Under age 40 |
2.00% |
40 – 54 |
2.50% |
55 – 58 |
3.00% |
59 – 64 |
3.50% |
65 – 69 |
4.00% |
70 – 74 |
4.50% |
75+ |
5.00% |
Single & Joint Life Option* |
Single & Joint Life Option* |
Age |
Percentage of Account Value,
Protected Income Base or Guaranteed Amount** |
Under age 40 |
2.50% |
40 – 54 |
3.00% |
55 – 58 |
3.50% |
59 – 64 |
4.00% |
65 – 69 |
4.50% |
70 – 79 |
5.00% |
80+ |
5.50% |
If your rider was purchased: |
The Enhancement is… |
The Enhancement is… |
Prior to April 30, 2024 |
Equal to the Enhancement Value (initial Enhancement
Value = Protected Income Base, and is increased by
Enhancement Base x Enhancement Rate) |
6% |
If your rider was purchased: |
The Enhancement is based on the… |
…multiplied by the
Enhancement Rate of… |
On or after July 18, 2022, but prior to December 18,
2023 |
Enhancement Base |
6% |
On or after May 18, 2020, but prior to July 18, 2022 |
Enhancement Base |
5% |
On or after February 20, 2018 (April 2, 2018, if your
rider was elected after the contract issue date), but prior
to May 18, 2020, subject to state availability |
Enhancement Base |
6% |
Prior to February 20, 2018 (April 2, 2018, if your rider
was elected after the contract issue date) |
Protected Income Base |
5% |
If your rider was purchased: |
The Enhancement is based on the… |
…multiplied by the
Enhancement Rate of… |
On or after July 18, 2022, but prior to December 18,
2023 |
Enhancement Base |
6% |
On or after May 18, 2020, but prior to July 18, 2022 |
Enhancement Base |
5% |
On or after February 20, 2018 (April 2, 2018 if your rider
was elected after the contract issue date), but prior to
May 18, 2020, subject to state availability |
Enhancement Base |
6% |
Between August 29, 2016 (October 3, 2016 if your rider
was elected after the contract issue date) and February
20, 2018 (April 2, 2018 if your rider was elected after
the contract issue date) |
Protected Income Base |
5% |
Prior to August 29, 2016 (October 3, 2016, if your rider
was elected after the contract issue date) |
N/A |
N/A |
If your rider was purchased: |
The Enhancement is based on the… |
…multiplied by the
Enhancement Rate of… |
On or after July 18, 2022, but prior to December 18,
2023 |
Enhancement Base |
6% |
On or after May 18, 2020, but prior to July 18, 2022 |
Enhancement Base |
5% |
Prior to May 18, 2020 |
Enhancement Base |
6% |
If your rider was purchased: |
The Enhancement is based on the… |
…multiplied by the
Enhancement Rate of… |
On or after November 28, 2022, but prior to April 30,
2024 |
Equal to the Enhancement Value (initial Enhancement
Value = Protected Income Base, and is increased by
Enhancement Base x Enhancement Rate) |
6% |
On or after August 22, 2022, but prior to November 28,
2022 |
Enhancement Base |
6% |
On or after May 18, 2020, but prior to August 22, 2022 |
Enhancement Base |
5% |
On or after June 11, 2018, but prior to May 18, 2020,
subject to state availability |
Enhancement Base |
6% |
Prior to June 11, 2018 |
Protected Income Base |
5% |
|
Single
Life |
Joint
Life |
Riders elected between November 28, 2022 and April 30, 2024 |
1.50% |
1.60% |
|
Single
Life |
Joint
Life |
Riders elected between December 14, 2020 and December 18, 2023 |
1.50% |
1.60% |
Riders elected on or after May 21, 2018 and on or prior to December 13, 2020 |
1.25% |
1.50% |
|
Single
Life |
Joint
Life |
Riders elected between December 14, 2020 and December 18, 2023 |
1.50% |
1.60% |
Riders elected on or after August 29, 2016 (October 3, 2016 for existing Contractowners) and on or prior to
December 13, 2020 |
1.25% |
1.50% |
|
Single
Life |
Joint
Life |
Riders elected between December 14, 2020 and December 18, 2023 |
1.50% |
1.60% |
Riders elected on or prior to December 13, 2020 |
1.25% |
1.50% |
|
Single
Life |
Joint
Life |
Riders elected between December 14, 2020 and April 30, 2024 |
1.50% |
1.60% |
Riders elected on or prior to December 13, 2020 |
1.25% |
1.50% |
|
Single
Life |
Joint
Life |
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) riders elected between May 21, 2018 and
April 30, 2024 |
0.95% |
1.15% |
|
Single
Life |
Joint
Life |
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) for Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk) riders elected between December 14, 2020 and December 18, 2023 |
1.50% |
1.60% |
|
|
|
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) for Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk) riders elected on or after May 21, 2018 and on or prior to December 13, 2020 |
1.25% |
1.50% |
|
|
|
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) for Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk) riders elected prior to May 21, 2018 and for all 4LATER® Advantage (Managed Risk) riders |
1.05% |
1.25% |
|
Single
Life |
Joint
Life |
i4LIFE® Advantage Select Guaranteed Income Benefit for Lincoln Market Select® Advantage riders elected
between December 14, 2020 and December 18, 2023 and 4LATER® Select Advantage riders elected between
December 14, 2020 and April 30, 2024 |
1.50% |
1.60% |
|
|
|
i4LIFE® Advantage Select Guaranteed Income Benefit for Lincoln Market Select® Advantage riders elected on
or after August 29, 2016 (October 3, 2016 for existing Contractowners) and on or prior to December 13,
2020 and 4LATER® Select Advantage riders on or prior to December 13, 2020 |
1.25% |
1.50% |
|
|
|
i4LIFE® Advantage Guaranteed Income Benefit (version 4) for Lincoln Market Select® Advantage riders
elected prior to August 29, 2016 (October 3, 2016 for existing Contractowners) |
0.95% |
1.15% |
SAI 1
Contents
|
Page
|
B-2
|
|
B-2
|
|
B-2
|
|
B-2
|
|
B-3
|
|
B-3
|
|
B-4
|
|
B-4
|
|
B-5
|
Contents
|
Page
|
B-5
|
|
B-5
|
|
B-5
|
|
B-7
|
|
B-8
|
|
B-8
|
|
B-8
|
|
B-9
|
Single Premium
|
$50,000
|
Premium taxes
|
None
|
Withdrawals
|
None
|
Guaranteed Period
|
5 years
|
Guaranteed Interest Rate
|
3.50%
|
Annuity Date
|
Age 70
|
Index Rate A
|
3.50%
|
Index Rate B
|
4.00% End of Contract Year 1
3.50% End of Contract Year 2
3.00% End of Contract Year 3
2.00% End of Contract Year 4
|
Percentage adjustment to B
|
0.50%
|
Interest Adjustment Formula
|
(1 + Index A)n
|
-1
|
n = Remaining Guaranteed Period
|
(1 + Index B + % Adjustment)n
|
Contract Year
|
(1)
Annuity
Value
|
(2)
1 + Interest
Adjustment Formula
|
(3)
Adjusted
Annuity
Value
|
(4)
Minimum
Value
|
(5)
Greater of
(3) & (4)
|
(6)
Surrender
Charge
|
(7)
Surrender
Value
|
1
|
$51,710
|
0.962268
|
$49,759
|
$50,710
|
$50,710
|
$4,250
|
$46,460
|
2
|
$53,480
|
0.985646
|
$52,712
|
$51,431
|
$52,712
|
$4,250
|
$48,462
|
3
|
$55,312
|
1.000000
|
$55,312
|
$52,162
|
$55,312
|
$4,000
|
$51,312
|
4
|
$57,208
|
1.009756
|
$57,766
|
$52,905
|
$57,766
|
$3,500
|
$54,266
|
5
|
$59,170
|
N/A
|
$59,170
|
$53,658
|
$59,170
|
$3,000
|
$56,170
|
Contract Year
|
BOY*
Annuity
Value
|
|
Guaranteed
Interest Rate
|
|
Annual
Account
Fee
|
|
EOY**
Annuity
Value
|
1
|
$50,000
|
x
|
1.035
|
-
|
$40
|
=
|
$51,710
|
2
|
$51,710
|
x
|
1.035
|
-
|
$40
|
=
|
$53,480
|
3
|
$53,480
|
x
|
1.035
|
-
|
$40
|
=
|
$55,312
|
4
|
$55,312
|
x
|
1.035
|
-
|
$40
|
=
|
$57,208
|
5
|
$57,208
|
x
|
1.035
|
-
|
$40
|
=
|
$59,170
|
Contract Year
|
Surrender
Charge
Factor
|
|
Deposit
|
|
Surrender
Charge
|
1
|
8.5%
|
x
|
$50,000
|
=
|
$4,250
|
2
|
8.5%
|
x
|
$50,000
|
=
|
$4,250
|
3
|
8.0%
|
x
|
$50,000
|
=
|
$4,000
|
4
|
7.0%
|
x
|
$50,000
|
=
|
$3,500
|
5
|
6.0%
|
x
|
$50,000
|
=
|
$3,000
|
Contract Year
|
Index A
|
Index B
|
Adj Index B
|
N
|
Result
|
1
|
3.50
%
|
4.00
%
|
4.50
%
|
4
|
0.962268
|
2
|
3.50
%
|
3.50
%
|
4.00
%
|
3
|
0.985646
|
3
|
3.50
%
|
3.00
%
|
3.50
%
|
2
|
1.000000
|
4
|
3.50
%
|
2.00
%
|
2.50
%
|
1
|
1.009756
|
5
|
3.50
%
|
N/A
|
N/A
|
N/A
|
N/A
|
Contract Year
|
|
|
Minimum
Guaranteed
Interest Rate
|
|
Annual
Account
Fee
|
|
Minimum
Value
|
1
|
$50,000
|
x
|
1.015
|
-
|
$40
|
=
|
$50,710
|
2
|
$50,710
|
x
|
1.015
|
-
|
$40
|
=
|
$51,431
|
3
|
$51,431
|
x
|
1.015
|
-
|
$40
|
=
|
$52,162
|
4
|
$52,162
|
x
|
1.015
|
-
|
$40
|
=
|
$52,905
|
5
|
$52,905
|
x
|
1.015
|
-
|
$40
|
=
|
$53,658
|
Prospectus 2
|
Single
Life
|
Joint
Life
|
Current Initial Annual Charge
|
1.50%
|
1.60%
|
Single Life PAI Rate
|
Joint Life PAI Rate
|
||
Age
|
PAI Rate
|
Age
|
PAI Rate
|
59 – 64
|
4.75%
|
59 – 64
|
4.25%
|
65 – 69
|
5.75%
|
65 – 69
|
5.25%
|
70 – 74
|
6.05%
|
70 – 74
|
5.55%
|
75 +
|
6.25%
|
75 +
|
5.75%
|
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) for Contractowners who transition
from Lin-
coln Lifetime IncomeSM Advantage 2.0 (Managed Risk)
|
Single
Life
|
Joint
Life
|
Current Initial Annual Charge
|
1.50%
|
1.60%
|
Single Life GIB %
|
Joint Life GIB %
|
||
Age
|
GIB %
|
Age
|
GIB %
|
Under 40
|
2.00%
|
Under 40
|
2.00%
|
40-54
|
2.25%
|
40-54
|
2.00%
|
55-58
|
2.25%
|
55-58
|
2.00%
|
59-64
|
3.25%
|
59-64
|
2.50%
|
Single Life GIB %
|
Joint Life GIB %
|
||
Age
|
GIB %
|
Age
|
GIB %
|
65-69
|
4.00%
|
65-69
|
3.00%
|
70-74
|
4.50%
|
70-74
|
3.25%
|
75-79
|
4.50%
|
75-79
|
3.50%
|
80+
|
4.50%
|
80+
|
3.75%
|
|
Single Life
|
Joint Life
|
Current Initial Annual Charge*
|
1.05%
|
1.25%
|
Single Life GIB Percentage
|
Joint Life GIB Percentage
|
||
Age
|
GIB Percentage
|
Age
|
GIB Percentage
|
Under 40
|
2.50%
|
Under 40
|
2.50%
|
40-54
|
3.00%
|
40-54
|
3.00%
|
55-58
|
3.50%
|
55-58
|
3.50%
|
59-64
|
4.00%
|
59-64
|
4.00%
|
65-69
|
4.50%
|
65-69
|
4.00%
|
70-74
|
5.00%
|
70-74
|
4.50%
|
75-79
|
5.00%
|
75-79
|
5.00%
|
80+
|
5.50%
|
80+
|
5.50%
|
Item
|
Page
|
3
|
|
5
|
|
7
|
|
9
|
|
11
|
|
13
|
|
15
|
|
20
|
|
21
|
|
23
|
|
26
|
|
27
|
|
29
|
|
34
|
|
35
|
|
39
|
|
46
|
|
48
|
|
51
|
|
52
|
|
57
|
|
57
|
|
58
|
|
58
|
|
58
|
|
59
|
|
A-1
|
|
B-1
|
|
C-1
|
|
D-1
|
|
E-1
|
|
F-1
|
|
G-1
|
|
FEES AND EXPENSES
|
Location in
Prospectus
|
||
Charges for Early
Withdrawals
|
There are no surrender charges associated with this Contract.
|
•N/A
|
||
Transaction
Charges
|
A front-end load, or sales charge, of up to 5.50% will be applied to all initial and
subsequent Gross Purchase Payments that you make. The sales charge is based on the
Contractowner's investment amount at the time each Gross Purchase Payment is made.
|
•Charges and
Other
Deductions
|
||
Ongoing Fees and
Expenses (annual
charges)
|
Minimum and Maximum Annual Fee Table. The table below describes the fees and
expenses that you may pay each year, depending on the options you choose. Please
refer to your contract specifications page for information about the specific fees
you will
pay each year based on the options you have elected.
|
•Fee Tables
•Examples
•Charges and
Other
Deductions
|
||
Annual Fee
|
Minimum
|
Maximum
|
||
Base Contract – Account Value Death
Benefit
|
0.76%1
|
0.76%1
|
||
Base Contract – Guarantee of Principal
Death Benefit
|
1.06%1
|
1.06%1
|
||
Base Contract – Enhanced Guaranteed
Minimum Death Benefit
|
0.81%1
|
0.81%1
|
||
Base Contract – Estate Enhancement
Benefit
|
1.26%1
|
1.26%1
|
||
Investment options (fund fees and
expenses)
|
0.48%1
|
3.17%1
|
||
Optional benefits available for an
additional charge (for a single optional
benefit, if elected)
|
0.40% 1
|
2.45% 2
|
||
1 As a percentage of average Account Value in the Subaccounts.
|
||||
2 As an annualized percentage of the Protected Income Base.
|
||||
Lowest and Highest Annual Cost Table. Because your Contract is customizable, the
choices you make affect how much you will pay. To help you understand the cost of
owning your Contract, the following table shows the lowest and highest cost you could
pay each year. This estimate assumes that you do not take withdrawals from the
Contract.
|
||||
|
Lowest Annual Cost: $1,957
|
Highest Annual Cost: $6,322
|
|
|
|
Assumes:
|
Assumes:
|
|
|
|
•Investment of $100,000
•5% annual appreciation
•Least expensive fund fees and
expenses
•No optional benefits
•No additional Purchase Payments,
transfers, or withdrawals
•No sales charges
|
•Investment of $100,000
•5% annual appreciation
•Most expensive combination of
optional benefits, fund fees and
expenses
•No additional Purchase Payments,
transfers, or withdrawals
•No sales charges
|
|
|
RISKS
|
Location in
Prospectus
|
||
Risk of Loss
|
•You can lose money by investing in this Contract, including loss of principal.
|
•Principal Risks
•Investments of
the Variable
Annuity
Account
|
||
Not a Short-Term
Investment
|
•This Contract is not designed for short-term investing and is not appropriate for
the
investor who needs ready access to cash.
•The benefits of tax deferral, long-term income, and living benefit protections mean
the Contract is more beneficial to investors with a long-term investment horizon.
•Withdrawals are subject to ordinary income tax and may be subject to tax penalties.
|
•Principal Risks
•Surrender and
Withdrawals
•Fee Tables
•Charges and
Other
Deductions
•Living Benefit
Riders
|
||
Risks Associated
with Investment
Options
|
•An investment in this Contract is subject to the risk of poor investment performance
of the investment options you choose. Performance can vary depending on the
performance of the investment options available under the Contract.
•Each investment option (including the fixed account option) has its own unique risks.
•You should review the investment options before making an investment decision.
|
•Principal Risks
•Investments of
the Variable
Annuity
Account
|
||
Insurance
Company Risks
|
•An investment in the Contract is subject to the risks related to Lincoln Life. Any
obligations (including under the fixed account option), guarantees, or benefits of
the
Contract are subject to our claims-paying ability. If we experience financial distress,
we may not be able to meet our obligations to you. More information about Lincoln
Life, including our financial strength ratings, is available upon request by calling
1-
888-868-2583 or visiting www.LincolnFinancial.com.
|
•Principal Risks
|
||
|
RESTRICTIONS
|
Location in
Prospectus
|
||
Investments
|
•The frequency of transfers between investment options is restricted. There are also
restrictions on the minimum amount that may be transferred from a variable option
and the maximum amount that may be transferred from the fixed account option.
•We reserve the right to remove or substitute any funds as investment options that
are available under the Contract.
•You are generally restricted to no more than 12 transfers between investment options
per Contract Year. Your ability to transfer between investment options may also be
restricted as a result of Investment Requirements if you have elected an optional
benefit.
|
•Principal Risks
•Investments of
the Variable
Annuity
Account
|
||
Optional Benefits
|
•Optional benefits may limit or restrict the investment options that you may select
under the Contract. We may change these restrictions in the future.
•Optional benefit availability may vary by state of issue.
•Excess Withdrawals may reduce the value of an optional benefit by an amount
greater than the value withdrawn or result in termination of the benefit.
•You are required to have a certain level of Contract Value for some new rider
elections.
•We may modify or stop offering an optional benefit that is currently available at
any
time.
•If you elect certain optional benefits, you may be limited in the amount of Purchase
Payments that you can make (and when).
|
•The Contracts
•Living Benefit
Riders
•Appendix B –
Investment
Requirements
•Appendix C –
Discontinued
Living Benefit
Riders
|
|
TAXES
|
Location in
Prospectus
|
||
Tax Implications
|
•Consult with a tax professional to determine the tax implications of an investment
in
and payments received under this Contract.
•If you purchase the Contract through a tax-qualified plan or IRA, you do not get any
additional tax benefit under the Contract.
•Earnings on your Contract are taxed at ordinary income tax rates when you withdraw
them, and you may have to pay a penalty if you take a withdrawal before age 59½.
|
•Federal Tax
Matters
|
||
|
CONFLICTS OF INTEREST
|
Location in
Prospectus
|
||
Exchanges
|
•If you already own a contract, some investment professionals may have a financial
incentive to offer you a new Contract in place of the one you own. You should only
exchange your contract if you determine, after comparing the features, fees, and
risks of both contracts, that it is better for you to purchase the new Contract rather
than continue to own your existing contract.
|
•The Contracts -
Replacement
of Existing
Insurance
|
Sales charge (as a percentage of Gross Purchase Payments):1
|
5.50%
|
We may also apply an Interest Adjustment to amounts being withdrawn, surrendered or
transferred from a Guaranteed
Period account (except for dollar cost averaging, cross-reinvestment, withdrawals
up to the Maximum Annual
Withdrawal amount under Lincoln SmartSecurity® Advantage and Regular Income Payments under i4LIFE® Advantage).
See Fixed Side of the Contract.
|
|
Administrative Expense (Annual Account Fee):1
|
|
$20
|
|
|
|
Base Contract Expenses (as a percentage of average Account Value in the Subaccounts)2,3
|
|
|
Account Value Death Benefit
|
|
0.75%
|
Guarantee of Principal Death Benefit
|
|
0.80%
|
Enhanced Guaranteed Minimum Death Benefit (EGMDB)
|
|
1.05%
|
Estate Enhancement Benefit (EEB)
|
|
1.25%
|
Optional Benefit Expenses (Protected Lifetime Income Fees)
|
Single
Life
|
Joint
Life
|
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) riders elected on or after May 21, 2018:4, 5
|
|
|
Guaranteed Maximum Annual Charge
|
2.25%
|
2.45%
|
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk) riders elected prior to May 21, 2018:5, 6
|
|
|
Guaranteed Maximum Annual Charge
|
2.00%
|
2.00%
|
Current Initial Annual Charge
|
1.25%
|
1.50%
|
Lincoln Lifetime IncomeSM Advantage 2.0:5, 7
|
|
|
Guaranteed Maximum Annual Charge
|
2.00%
|
2.00%
|
Current Charge
|
1.25%
|
1.50%
|
Lincoln Lifetime IncomeSM Advantage:8
|
|
|
Guaranteed Maximum Annual Charge
|
1.50%
|
1.50%
|
Current Charge
|
1.25%
|
1.25%
|
Additional Charge for Lincoln Lifetime IncomeSM Advantage Plus
|
0.15%
|
0.15%
|
Lincoln SmartSecurity® Advantage – 1 Year Automatic Step-up option:9
|
|
|
Guaranteed Maximum Annual Charge
|
1.50%
|
1.50%
|
Current Charge
|
1.00%
|
1.25%
|
Lincoln SmartSecurity® Advantage – 5 Year Elective Step-up option:9
|
|
|
Guaranteed Maximum Annual Charge
|
0.95%
|
N/A
|
Current Charge
|
0.95%
|
N/A
|
4LATER® Advantage:10
|
|
|
Guaranteed Maximum Annual Charge
|
1.50%
|
N/A
|
Current Charge
|
0.90%
|
N/A
|
i4LIFE® Advantage:11
|
|
|
Current Charge
|
0.40%
|
0.40%
|
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk):4, 12
|
|
|
Guaranteed Maximum Annual Charge
|
2.00%
|
2.00%
|
i4LIFE® Advantage Guaranteed Income Benefit (version 4):12
|
|
|
Guaranteed Maximum Annual Charge
|
2.00%
|
2.00%
|
Current Charge
|
0.95%
|
1.15%
|
i4LIFE® Advantage Guaranteed Income Benefit (version 3):13
|
|
|
Guaranteed Maximum Annual Charge
|
1.50%
|
1.50%
|
Current Charge
|
0.95%
|
0.95%
|
i4LIFE® Advantage Guaranteed Income Benefit (version 2):13
|
|
|
Guaranteed Maximum Annual Charge
|
1.50%
|
1.50%
|
Current Charge
|
0.75%
|
0.75%
|
i4LIFE® Advantage Guaranteed Income Benefit (version 1):13
|
|
|
Current Charge
|
0.50%
|
0.50%
|
Annual Fund Expenses
|
Minimum
|
Maximum
|
Expenses that are deducted from the fund assets, including
management fees, distribution and/or service (12b-1) fees, and other
expenses before reimbursements.
|
0.48
%
|
3.17
%
|
Expenses that are deducted from the fund assets, including
management fees, distribution and/or service (12b-1) fees, and other
expenses after any waivers or expense reimbursements.1
|
0.48
%
|
1.58
%
|
1 year
|
3 years
|
5 years
|
10 years
|
$11,705
|
$23,815
|
$35,536
|
$63,217
|
1 year
|
3 years
|
5 years
|
10 years
|
$11,705
|
$23,815
|
$35,536
|
$63,217
|
|
Account Value
Death Benefit
|
Guarantee of
Principal Death
Benefit
|
Enhanced Guaranteed
Minimum Death
Benefit (EGMDB)
|
Estate Enhancement
Benefit (EEB)
|
Mortality and expense
risk charge
|
0.65
%
|
0.70
%
|
0.95
%
|
1.15
%
|
Administrative charge
|
0.10
%
|
0.10
%
|
0.10
%
|
0.10
%
|
Total base contract
expenses
|
0.75
%
|
0.80
%
|
1.05
%
|
1.25
%
|
Owner's Investment
|
Sales Charge
|
$0 - $49,999
|
5.50
%
|
$50,000 - $99,999
|
4.50
%
|
$100,000 - $249,999
|
3.50
%
|
$250,000 - $499,999
|
2.50
%
|
$500,000 - $999,999
|
2.00
%
|
$1,000,000 or greater
|
1.00
%
|
Owner's Investment
|
Sales Charge
|
Under $25,000
|
5.75
%
|
$25,000 - $49,999
|
5.00
%
|
$50,000 - $99,999
|
4.50
%
|
$100,000 - $249,999
|
3.50
%
|
$250,000 - $499,999
|
2.50
%
|
$500,000 - $749,999
|
2.00
%
|
$750,000 - $999,999
|
1.50
%
|
$1,000,000 or greater
|
1.00
%
|
1/1/2024 Initial i4LIFE® Advantage Account Value
|
$100,000
|
1/1/2024 Protected Income Base as of the last Valuation Date under the Prior Rider
|
$125,000
|
1/1/2024 Initial Annual Charge for i4LIFE® Advantage Guaranteed Income Benefit ($125,000 x 1.50%). The protected
lifetime income fee for the Prior Rider is assessed against the Protected Income Base
since it is larger than the
Account Value
|
$1,875
|
1/2/2024 Amount of initial i4LIFE® Advantage Regular Income Payment (an example of how the Regular Income Payment
is calculated is shown in the SAI)
|
$5,173
|
1/2/2024 Initial Guaranteed Income Benefit (4% x $125,000 Protected Income Base)
|
$5,000
|
1/2/2025 Recalculated Regular Income Payment (due to market gain in Account Value)
|
$6,900
|
1/2/2025 New Guaranteed Income Benefit (75% x $6,900 Regular Income Payment)
|
$5,175
|
1/2/2025 Annual Charge for i4LIFE® Advantage Guaranteed Income Benefit ($1,875 x ($5,175/$5,000)) Prior charge x
[ratio of increased Guaranteed Income Benefit to prior Guaranteed Income Benefit]
|
$1,940.63
|
1/2/2025 Annual Charge for i4LIFE® Advantage Guaranteed Income Benefit
|
$1,940.63
|
1/2/2026 Recalculated Regular Income Payment (due to Account Value increase)
|
$7,400
|
1/2/2026 New Guaranteed Income Benefit (75% x $7,400 Regular Income Payment)
|
$5,550
|
Assume the Prior Rider fee rate increases from 1.50% to 1.60%.
|
|
1/2/2026 Annual Charge for i4LIFE® Advantage Guaranteed Income Benefit ($1,940.63 x ($5,550/$5,175) x
(1.60%/1.50%))
|
$2,220.01
|
Standard Benefits
|
|||
Name of Benefit
|
Purpose
|
Maximum Fee
|
Brief Description of Restrictions /
Limitations
|
Account Value Death
Benefit
|
Provides a Death Benefit equal to the
Contract Value.
|
•0.75%
|
•Poor investment performance could
significantly reduce the benefit.
•Withdrawals could significantly reduce
the benefit.
|
Guarantee of Principal
Death Benefit
|
Provides a Death Benefit equal to the
greatest of (1) Contract Value; (2) all
Purchase Payments, adjusted for
withdrawals.
|
•0.80%
|
•Withdrawals could significantly reduce
the benefit.
|
Enhanced Guaranteed
Minimum Death
Benefit (EGMDB)
|
Provides a Death Benefit equal to the
greatest of (1) Contract Value; (2) all
Purchase Payments, adjusted for
withdrawals; (3) the highest Contract Value
on any contract anniversary prior to age 81
as adjusted for withdrawals.
|
•1.05%
|
•Not available if age 80 or older at the
time of issuance.
•Withdrawals could significantly reduce
the benefit.
•Poor investment performance could
significantly reduce and limit potential
increases to the highest Contract Value.
|
Estate Enhancement
Benefit Rider
|
Provides a Death Benefit equal to the
greatest of (1) Contract Value; (2) all
Purchase Payments, adjusted for
withdrawals; (3) the highest Contract Value
on any contract anniversary prior to age 81
(decreased proportionately by subsequent
withdrawals); (4) current Contract Value
plus an amount based on earnings under the
Contract.
|
•1.25%
|
•If there are no contract earnings, the
calculations of the Death Benefit using
contract earnings will not be available.
•Withdrawals could significantly reduce
the benefit.
|
Dollar-Cost Averaging
|
Allows you to automatically transfer
amounts between certain investment
options on a monthly basis.
|
None
|
•Minimum amount to be dollar cost
averaged is $1,500 over any time period
between 3 and 60 months.
•Cannot be used simultaneously with
portfolio rebalancing.
|
Standard Benefits
|
|||
Name of Benefit
|
Purpose
|
Maximum Fee
|
Brief Description of Restrictions /
Limitations
|
Portfolio Rebalancing
|
Allows you to automatically reallocate your
Contract Value among investment options
on a periodic basis based on your standing
allocation instructions.
|
None
|
•Cannot be used simultaneously with
dollar cost averaging.
|
Cross-Reinvestment
|
When the amount invested in an investment
option exceeds a baseline amount, allows
you to automatically transfer the excess
amount to another investment option.
|
None
|
•Cannot be used simultaneously with
dollar cost averaging or portfolio
rebalancing.
•Not available for new participants.
|
Automatic Withdrawal
Service
|
Allows you to take periodic withdrawals
from your Contract automatically.
|
None
|
•Automatically terminates once i4LIFE®
Advantage begins.
|
Optional Benefits – Available for Election
|
|||
Name of Benefit
|
Purpose
|
Maximum Fee
|
Brief Description of Restrictions /
Limitations
|
i4LIFE® Advantage
|
Provides:
•Variable periodic Regular Income
Payments for life.
•The ability to make additional
withdrawals and surrender the Contract
during the Access Period.
•The optional Guaranteed Income Benefit,
which provides a minimum payout floor
for those Regular Income Payments.
|
•i4LIFE® Advantage:
0.40% in addition to
the base contract
expense for the
Death Benefit you
have elected.
|
•Withdrawals could significantly reduce or
terminate the benefit.
•Restrictions apply to the length of the
Access Period.
•Additional Purchase Payments may be
subject to restrictions.
|
Optional Benefits – No Longer Available for Election1
|
|||
Name of Benefit
|
Purpose
|
Maximum Fee
|
Brief Description of Restrictions /
Limitations
|
Lincoln Lifetime
IncomeSM Advantage
2.0 (Managed Risk)
|
Provides:
•Guaranteed lifetime periodic withdrawals;
•An Enhancement to the Protected
Income Base;
•Account Value Step-ups of the Protected
Income Base;
•Age-based increases to the Protected
Annual Income amount; and
•Nursing Home Enhancement.
|
•2.25% Single Life
Option
•2.45% Joint Life
Option
(as a percentage of
the Protected
Income Base)
|
•Investment Requirements apply.
•Excess Withdrawals could significantly
reduce or terminate the benefit.
•Any withdrawal may negatively impact or
eliminate the potential for enhancements
or step-ups.
•Subject to a $10 million maximum
Protected Income Base across all Living
Benefit Riders.
•Purchase Payments and step-ups may
increase fee rate.
•Additional Purchase Payments may be
limited.
|
Lincoln Lifetime
IncomeSM Advantage
2.0
|
Provides:
•Guaranteed lifetime periodic withdrawals;
•An Enhancement to the Protected
Income Base;
•Account Value Step-ups of the Protected
Income Base;
•Age-based increases to the Protected
Annual Income amount
|
•2.00%
(as a percentage of
Protected Income
Base)
|
•Investment Requirements apply.
•Subject to a $10 million maximum
across all Living Benefit Riders.
•Excess withdrawals could significantly
reduce or terminate the benefit.
•Any withdrawal may negatively impact or
eliminate the potential for enhancements
or step-ups.
•Purchase Payments and step-ups may
increase fee rate.
•Additional Purchase Payments may be
limited.
|
Optional Benefits – No Longer Available for Election1
|
|||
Name of Benefit
|
Purpose
|
Maximum Fee
|
Brief Description of Restrictions /
Limitations
|
Lincoln
SmartSecurity®
Advantage
|
Provides:
•A minimum guaranteed amount that you
can withdraw, in installments, from your
Contract. Lifetime periodic withdrawals
may also be available if certain
conditions are met.
|
•1.50%
(as an annualized
percentage of the
Guaranteed
Amount)
|
•Withdrawals could significantly reduce or
terminate the benefit.
•Investment Requirements apply.
•Subject to a $10 million maximum
across all Living Benefit Riders.
•Additional Purchase Payments may be
limited.
•A step-up of the Guaranteed Amount
may increase the fee rate.
|
i4LIFE® Advantage
Guaranteed Income
Benefit
|
•Provides a minimum payout floor for
Regular Income Payments under i4LIFE®
Advantage.
|
•Guaranteed Income
Benefit (Managed
Risk) and
Guaranteed Income
Benefit (version 4):
2.00%* (single/joint
life option)
•Guaranteed Income
Benefit (versions 1,
2 and 3): 1.50%*
(single/joint life
option)
*The Guaranteed
Income Benefit
charge is in addition
to the i4LIFE®
Advantage charge
and your base
contract expense.
|
•Guaranteed Income Benefit limits
available investment options (Investment
Requirements apply).
•Withdrawals could significantly reduce or
terminate the benefit.
•Restrictions apply to the length of the
Access Period.
•Additional Purchase Payments can be
subject to restrictions.
|
upon death of:
|
and...
|
and...
|
Death Benefit proceeds pass to:
|
Contractowner
|
There is a surviving joint owner
|
The Annuitant is living or deceased
|
Joint owner
|
Contractowner
|
There is no surviving joint owner
|
The Annuitant is living or deceased
|
Designated Beneficiary
|
Contractowner
|
There is no surviving joint owner
and the Beneficiary predeceases the
Contractowner
|
The Annuitant is living or deceased
|
Contractowner's estate
|
Annuitant
|
The Contractowner is living
|
There is no contingent Annuitant
|
The youngest Contractowner
becomes the contingent Annuitant
and the Contract continues. The
Contractowner may waive* this
continuation and receive the Death
Benefit proceeds.
|
Annuitant
|
The Contractowner is living
|
The contingent Annuitant is living
|
Contingent Annuitant becomes the
Annuitant and the Contract
continues
|
Annuitant
|
The Contractowner is a trust or
other non-natural person**
|
No contingent Annuitant allowed
with non-natural Contractowner
|
Designated Beneficiary
|
7/3/2024 Initial Deposit / Contract Value
|
$10,000
|
7/3/2028 Contract Value
|
$25,000
|
7/3/2029 Contract Value
|
$23,500
|
Contract Value on the Valuation Date the death claim is approved
|
$120,000
|
Contract earnings
|
$20,000 ($120,000 - $100,000)
|
Covered earnings limit
|
$200,000 ($100,000 x 2)
|
The enhancement rate is multiplied by the lesser of the contract earnings amount ($20,000)
or the
covered earnings limit amount ($200,000)
|
$8,000 (40% x $20,000)
|
Total Death Benefit amount
|
$128,000 ($120,000 + $8,000)
|
|
Minimum Access Period
|
Maximum Access Period
|
i4LIFE® Advantage (without a Guaranteed Income
Benefit) for new elections on and after November 20,
2023
|
10 years
|
The length of time between
your age and age 115 for
nonqualified contracts; age
100 for qualified contracts
|
i4LIFE® Advantage (without a Guaranteed Income
Benefit) for elections prior to November 20, 2023
|
5 years
|
The length of time between
your age and age 115 for
nonqualified contracts; age
100 for qualified contracts
|
Guaranteed Income Benefit (Managed Risk)
|
Longer of 20 years or the difference between your age
(nearest birthday) and age 90
|
To age 115 for nonqualified
contracts; to age 100 for
qualified contracts
|
Guaranteed Income Benefit (version 4) elections on or
after May 21, 2012
|
Longer of 20 years or the difference between your age
(nearest birthday) and age 100
|
To age 115 for nonqualified
contracts; to age 100 for
qualified contracts
|
Guaranteed Income Benefit (version 4) elections prior to
May 21, 2012
|
Longer of 20 years or the difference between your age
(nearest birthday) and age 90
|
To age 115 for nonqualified
contracts; to age 100 for
qualified contracts
|
Guaranteed Income Benefit (version 2 and 3)
|
Longer of 15 years or the difference between your age
(nearest birthday) and age 85
|
To age 115 for nonqualified
contracts; to age 100 for
qualified contracts
|
|
Tier 1
|
Tier 2
|
Minimum Threshold Value
|
$500,000
|
$1,000,000
|
Credit Percentage (Annually)
|
0.10%
|
0.20%
|
Credit Percentage (Quarterly)
|
0.025%
|
0.050%
|
Account Value (equals Contract Value on date i4LIFE® Advantage
Guaranteed Income Benefit is elected)
|
$100,000
|
|
Guaranteed Amount/Protected Income Base on date i4LIFE®
Advantage Guaranteed Income Benefit is elected:
|
$140,000
|
|
Initial Regular Income Payment
|
$5,411
|
|
Initial Guaranteed Income Benefit (4.5% x $140,000 Guaranteed
Amount/Protected Income Base which is greater than $100,000
Account Value)
|
$6,300
|
|
i4LIFE® Account Value before market decline
|
$135,000
|
i4LIFE® Account Value after market decline
|
$100,000
|
Guaranteed Income Benefit
|
$810
|
Regular Income Payment after market decline
|
$769
|
Account Value after market decline and Guaranteed Income Benefit
payment
|
$99,190
|
8/1/2024 Amount of initial Regular Income Payment
|
$4,801
|
8/1/2024 Account Value at election of Guaranteed Income Benefit
|
$100,000
|
8/1/2024 Initial Guaranteed Income Benefit (4% x $100,000 Account Value)
|
$4,000
|
8/1/2025 Recalculated Regular Income Payment
|
$6,000
|
8/1/2025 Guaranteed Income Benefit after step-up (75% of $6,000)
|
$4,500
|
If your Prior Rider is...
|
you will transition to…
|
•Lincoln Lifetime IncomeSM Advantage 2.0 (Managed Risk)
|
Guaranteed Income Benefit (Managed Risk)
|
•Lincoln Lifetime IncomeSM Advantage 2.0
|
Guaranteed Income Benefit (version 4)
|
Minimum Access Period
|
||
|
Elections of i4LIFE® Advantage prior
to the 5th Benefit Year anniversary
|
Elections of i4LIFE® Advantage on and
after the 5th Benefit Year anniversary
|
Purchasers of:
•Lincoln Lifetime IncomeSM Advantage
2.0 (Managed Risk) on or after June 15,
2020
|
Longer of 20 years or the difference
between your age and age 90
|
Longer of 20 years or the difference
between your age and age 90
|
Purchasers of:
•Lincoln Lifetime IncomeSM Advantage
2.0 on or after May 21, 2012
|
Longer of 20 years or the difference
between your age and age 100
|
Longer of 20 years or the difference
between your age and age 95
|
Purchasers of:
•Lincoln Lifetime IncomeSM Advantage
2.0 (Managed Risk) prior to June 15,
2020
•Lincoln Lifetime IncomeSM Advantage
2.0 prior to May 21, 2012
|
Longer of 20 years or the difference
between your age and age 90
|
Longer of 15 years or the difference
between your age and age 85
|
i4LIFE® Advantage Guarantee of Principal Death Benefit
|
$200,000
|
|
Regular Income Payment
|
$25,000
|
|
Account Value at the time of additional withdrawal
|
$150,000
|
|
Additional withdrawal
|
$15,000
|
($15,000/$150,000=10% withdrawal)
|
|
|
|
Death Benefit Value after Regular Income Payment = $200,000 - $25,000 = $175,000
|
||
Reduction in Death Benefit value for withdrawal = $175,000 x 10% = $17,500
|
||
Death Benefit Value after additional withdrawal = $175,000 - $17,500 = $157,500
|
i4LIFE® Regular Income Payment before additional withdrawal
|
$1,200
|
|
Guaranteed Income Benefit before additional withdrawal
|
$900
|
|
Account Value at time of additional withdrawal
|
$150,000
|
|
Additional withdrawal
|
$15,000
|
(a 10% withdrawal)
|
|
|
|
Reduction in Guaranteed Income Benefit for additional withdrawal = $900 x 10% = $90
|
||
Guaranteed Income Benefit after additional withdrawal = $900 - $90 = $810
|
(1+A)n
|
–1
|
(1+B+K)n
|
where:
|
||
A
|
=
|
yield rate for a U.S. Treasury security with time to maturity equal to the Subaccount’s Guaranteed Period, determined at
the beginning of the Guaranteed Period.
|
B
|
=
|
yield rate for a U.S. Treasury security with time to maturity equal to the time remaining
in the Guaranteed Period if greater
than one year, determined at the time of surrender, withdrawal or transfer. For remaining
periods of one year or less, the
yield rate for a one year U.S. Treasury security is used.
|
K
|
=
|
a 0.25% adjustment (unless otherwise limited by applicable state law). This adjustment
builds into the formula a factor
representing direct and indirect costs to us associated with liquidating general account
assets in order to satisfy
surrender requests. This adjustment of 0.25% has been added to the denominator of
the formula because it is anticipated
that a substantial portion of applicable general account portfolio assets will be
in relatively illiquid securities. Thus, in
addition to direct transaction costs, if such securities must be sold (e.g., because
of surrenders), the market price may be
lower. Accordingly, even if interest rates decline, there will not be a positive adjustment
until this factor is overcome, and
then any adjustment will be lower than otherwise, to compensate for this factor. Similarly,
if interest rates rise, any
negative adjustment will be greater than otherwise, to compensate for this factor.
If interest rates stay the same, there will
be no Interest Adjustment.
|
n
|
=
|
The number of years remaining in the Guaranteed Period (e.g., 1 year and 73 days =
1 + (73 divided by 365) = 1.2 years).
|
|
|
Straight-Line interpolation is used for periods to maturity not quoted.
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
|
|
|
1 year
|
5 year
|
10 year
|
Long-term growth of capital.
|
AB VPS Discovery Value Portfolio -
Class B
advised by AllianceBernstein L.P.
|
1.06%
|
16.86%
|
10.51%
|
7.29%
|
Long-term growth of capital.
|
AB VPS Sustainable Global Thematic
Portfolio - Class B
advised by AllianceBernstein L.P.
|
1.17%2
|
15.70%
|
13.27%
|
9.33%
|
Long-term growth of capital.
|
American Funds Global Growth Fund -
Class 2
|
0.66%2
|
22.60%
|
13.65%
|
9.58%
|
Long-term capital growth.
|
American Funds Global Small
Capitalization Fund - Class 2
|
0.91%2
|
16.17%
|
8.31%
|
5.78%
|
Growth of capital.
|
American Funds Growth Fund - Class 2
|
0.59%
|
38.49%
|
18.68%
|
14.36%
|
Long-term growth of capital and income.
|
American Funds Growth-Income Fund -
Class 2
|
0.53%
|
26.14%
|
13.36%
|
10.91%
|
Long-term growth of capital.
|
American Funds International Fund -
Class 2
|
0.78%
|
15.84%
|
4.83%
|
3.41%
|
Long-term growth of capital.
|
ClearBridge Variable Mid Cap Portfolio -
Class II
advised by Legg Mason Partners Fund
Advisor, LLC
|
1.08%
|
12.62%
|
10.46%
|
6.83%
|
Capital Appreciation. A fund of funds.
|
DWS Alternative Asset Allocation VIP
Portfolio - Class B
advised by DWS Investment
Management Americas, Inc.
|
1.21%
|
5.67%
|
5.70%
|
2.63%
|
Income and capital growth consistent
with reasonable risk.
|
Fidelity® VIP Balanced Portfolio -
Service Class 2
|
0.69%
|
21.29%
|
12.16%
|
8.81%
|
Long-term capital appreciation.
|
Fidelity® VIP Contrafund® Portfolio -
Service Class 2
|
0.81%
|
33.12%
|
16.36%
|
11.33%
|
To achieve capital appreciation.
|
Fidelity® VIP Growth Portfolio - Service
Class 2
|
0.83%
|
35.89%
|
19.34%
|
14.51%
|
Long-term growth of capital.
|
Fidelity® VIP Mid Cap Portfolio - Service
Class 2
|
0.82%
|
14.80%
|
12.17%
|
7.85%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
|
|
|
1 year
|
5 year
|
10 year
|
To provide capital appreciation.
|
First Trust Capital Strength Portfolio –
Class I
|
1.10%2
|
7.75%
|
N/A
|
N/A
|
To provide long-term capital
appreciation.
|
First Trust Growth Strength Portfolio –
Class I
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
|
1.20%2
|
N/A
|
N/A
|
N/A
|
To provide capital appreciation.
|
First Trust International Developed
Capital Strength Portfolio – Class I
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
|
1.20%2
|
16.90%
|
N/A
|
N/A
|
Capital appreciation with income as a
secondary objective.
|
Franklin Allocation VIP Fund - Class 4
|
0.92%2
|
14.62%
|
7.44%
|
4.64%
|
To maximize income while maintaining
prospects for capital appreciation.
|
Franklin Income VIP Fund - Class 2
|
0.71%2
|
8.62%
|
6.98%
|
5.01%
|
Capital appreciation; income is a
secondary consideration.
|
Franklin Mutual Shares VIP Fund - Class
2
|
0.93%
|
13.46%
|
7.81%
|
5.43%
|
Long-term capital appreciation.
|
Goldman Sachs VIT Large Cap Value
Fund - Service Shares
|
0.94%2
|
12.71%
|
11.20%
|
7.35%
|
Long-term growth of capital.
|
Invesco V.I. EQV International Equity
Fund - Series II Shares
|
1.15%
|
17.86%
|
8.15%
|
4.07%
|
Capital Appreciation.
|
Invesco V.I. Global Fund - Series II
Shares
|
1.07%
|
34.45%
|
12.02%
|
8.21%
|
Long-term growth of capital and income
without excessive fluctuations in market
value.
|
Lord Abbett Series Fund Fundamental
Equity Portfolio - Class VC
|
1.08%2
|
14.63%
|
9.70%
|
7.00%
|
Long-term capital growth.
|
LVIP AllianceBernstein Large Cap
Growth Fund - Service Class
(formerly LVIP T. Rowe Price Growth
Stock Fund)
advised by Lincoln Financial Investments
Corporation
|
0.88%2
|
45.95%
|
13.04%
|
11.39%
|
Long-term capital growth and current
income by investing approximately 60%
of its assets in equity securities and the
remainder in bonds and other fixed-
income securities.
|
LVIP American Century Balanced Fund -
Service Class
(formerly American Century VP
Balanced Fund)
advised by Lincoln Financial Investments
Corporation
|
1.02%2
|
16.12%
|
8.20%
|
N/A
|
Capital Appreciation.
|
LVIP Baron Growth Opportunities Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
1.15%2
|
17.81%
|
13.66%
|
9.35%
|
Reasonable income.
|
LVIP BlackRock Dividend Value
Managed Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.91%2
|
9.12%
|
9.27%
|
6.16%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
|
|
|
1 year
|
5 year
|
10 year
|
High total investment return.
|
LVIP BlackRock Global Allocation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.98%2
|
13.35%
|
N/A
|
N/A
|
To maximize real return, consistent with
preservation of real capital and prudent
investment management.
|
LVIP BlackRock Inflation Protected Bond
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.88%
|
4.81%
|
2.90%
|
1.93%
|
Total return through a combination of
current income and long-term capital
appreciation.
|
LVIP BlackRock Real Estate Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
1.07%2
|
12.79%
|
4.50%
|
3.59%
|
Long-term growth of capital in a manner
consistent with the preservation of
capital.
|
LVIP Blended Large Cap Growth
Managed Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.92%2
|
33.81%
|
13.53%
|
9.01%
|
Capital Appreciation.
|
LVIP Blended Mid Cap Managed
Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.98%2
|
17.46%
|
9.94%
|
6.14%
|
Seeks long-term capital appreciation.
|
LVIP Channing Small Cap Value Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
1.13%
|
19.65%
|
N/A
|
N/A
|
Long-term capital appreciation. A fund
of funds.
|
LVIP Dimensional International Equity
Managed Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
1.01%
|
16.40%
|
5.24%
|
2.03%
|
Long-term capital appreciation.
|
LVIP Dimensional U.S. Core Equity 1
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.75%2
|
22.36%
|
14.59%
|
10.69%
|
Long-term capital appreciation. A fund
of funds.
|
LVIP Dimensional U.S. Equity Managed
Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.86%2
|
21.64%
|
12.58%
|
7.75%
|
Long-term capital growth.
|
LVIP Franklin Templeton Global Equity
Managed Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.98%2
|
16.95%
|
8.71%
|
4.32%
|
To maximize long-term capital
appreciation.
|
LVIP Franklin Templeton Multi-Factor
Emerging Markets Equity Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
|
0.75%2
|
9.76%
|
2.86%
|
1.34%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
|
|
|
1 year
|
5 year
|
10 year
|
To maximize long-term capital
appreciation.
|
LVIP Franklin Templeton Multi-Factor
International Equity Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.66%2
|
18.62%
|
6.47%
|
4.13%
|
To maximize long-term capital
appreciation.
|
LVIP Franklin Templeton Multi-Factor
Large Cap Equity Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.61%2
|
17.09%
|
12.53%
|
9.79%
|
To maximize long-term capital
appreciation.
|
LVIP Franklin Templeton Multi-Factor
SMID Cap Equity Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.64%2
|
15.25%
|
11.14%
|
6.89%
|
A high level of current income with
some consideration given to growth of
capital. A fund of funds.
|
LVIP Global Conservative Allocation
Managed Risk Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
1.02%2
|
9.45%
|
3.97%
|
3.26%
|
A balance between a high level of
current income and growth of capital,
with a greater emphasis on growth of
capital. A fund of funds.
|
LVIP Global Growth Allocation Managed
Risk Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
1.01%2
|
13.05%
|
4.71%
|
3.46%
|
A balance between a high level of
current income and growth of capital,
with an emphasis on growth of capital. A
fund of funds.
|
LVIP Global Moderate Allocation
Managed Risk Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
1.00%2
|
11.56%
|
4.30%
|
3.30%
|
Current income while (i)maintaining a
stable value of your shares (providing
stability of net asset value) and (ii)
preserving the value of your initial
investment (preservation of capital).
|
LVIP Government Money Market Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.64%2
|
4.48%
|
1.46%
|
0.87%
|
A high level of current income; capital
appreciation is the secondary objective.
|
LVIP JPMorgan High Yield Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.93%2
|
11.49%
|
4.69%
|
3.73%
|
Capital appreciation with the secondary
goal of achieving current income by
investing in equity securities.
|
LVIP JPMorgan Mid Cap Value Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
|
0.99%
|
N/A
|
N/A
|
N/A
|
Current income and some capital
appreciation. A fund of funds.
|
LVIP JPMorgan Retirement Income Fund
- Service Class
advised by Lincoln Financial Investments
Corporation
|
0.93%2
|
11.32%
|
4.75%
|
3.68%
|
Long-term capital appreciation.
|
LVIP JPMorgan Select Mid Cap Value
Managed Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
1.03%2
|
11.80%
|
8.97%
|
5.35%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
|
|
|
1 year
|
5 year
|
10 year
|
Capital growth over the long term.
|
LVIP JPMorgan Small Cap Core Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
|
1.03%
|
12.80%
|
9.12%
|
6.81%
|
High total return.
|
LVIP JPMorgan U.S. Equity Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
This fund will be available on or about
May 20, 2024. Please consult your
registered representative.
|
0.94%
|
26.84%
|
16.86%
|
12.15%
|
Maximum current income (yield)
consistent with a prudent investment
strategy.
|
LVIP Macquarie Bond Fund - Service
Class3
(formerly LVIP Delaware Bond Fund)
advised by Lincoln Financial Investments
Corporation
|
0.72%
|
5.57%
|
1.14%
|
1.64%
|
Total return.
|
LVIP Macquarie Diversified Floating Rate
Fund - Service Class3
(formerly LVIP Delaware Diversified
Floating Rate Fund)
advised by Lincoln Financial Investments
Corporation
|
0.88%2
|
5.31%
|
2.13%
|
1.43%
|
Maximum long-term total return
consistent with reasonable risk.
|
LVIP Macquarie Diversified Income Fund
- Service Class3
(formerly LVIP Delaware Diversified
Income Fund)
advised by Lincoln Financial Investments
Corporation
|
0.84%2
|
5.94%
|
1.75%
|
1.80%
|
Total return and, as a secondary
objective, high current income.
|
LVIP Macquarie High Yield Fund -
Service Class3
(formerly LVIP Delaware High Yield
Fund)
advised by Lincoln Financial Investments
Corporation
|
1.04%2
|
12.34%
|
5.19%
|
3.25%
|
Maximum total return, consistent with
reasonable risk.
|
LVIP Macquarie Limited-Term Diversified
Income Fund - Service Class3
(formerly LVIP Delaware Limited-Term
Diversified Income Fund)
advised by Lincoln Financial Investments
Corporation
|
0.83%2
|
4.68%
|
1.56%
|
1.36%
|
To maximize long-term capital
appreciation.
|
LVIP Macquarie Mid Cap Value Fund -
Service Class3
(formerly LVIP Delaware Mid Cap Value
Fund)
advised by Lincoln Financial Investments
Corporation
|
0.78%
|
10.86%
|
11.49%
|
8.24%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
|
|
|
1 year
|
5 year
|
10 year
|
Long-term capital appreciation.
|
LVIP Macquarie SMID Cap Core Fund -
Service Class3
(formerly LVIP Delaware SMID Cap Core
Fund)
advised by Lincoln Financial Investments
Corporation
|
1.10%2
|
16.10%
|
11.91%
|
8.06%
|
To maximize long-term capital
appreciation.
|
LVIP Macquarie Social Awareness Fund -
Service Class3
(formerly LVIP Delaware Social
Awareness Fund)
advised by Lincoln Financial Investments
Corporation
|
0.80%
|
29.72%
|
15.45%
|
10.93%
|
Long-term capital appreciation.
|
LVIP Macquarie U.S. Growth Fund -
Service Class3
(formerly LVIP Delaware U.S. Growth
Fund)
advised by Lincoln Financial Investments
Corporation
|
1.02%
|
47.90%
|
18.02%
|
12.22%
|
Maximum long-term total return, with
capital appreciation as a secondary
objective.
|
LVIP Macquarie U.S. REIT Fund -
Service Class3
(formerly LVIP Delaware U.S. REIT
Fund)
advised by Lincoln Financial Investments
Corporation
|
1.13%2
|
12.24%
|
6.14%
|
5.94%
|
Long-term capital appreciation.
|
LVIP Macquarie Value Fund - Service
Class3
(formerly LVIP Delaware Value Fund)
advised by Lincoln Financial Investments
Corporation
|
0.98%
|
3.18%
|
7.78%
|
7.54%
|
To provide a responsible level of income
and the potential for capital appreciation.
|
LVIP Macquarie Wealth Builder Fund -
Service Class3
(formerly LVIP Delaware Wealth Builder
Fund)
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after June 30, 2009.
|
0.96%2
|
9.64%
|
5.69%
|
4.19%
|
Long-term capital appreciation.
|
LVIP MFS International Growth Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
1.05%2
|
14.42%
|
9.55%
|
6.31%
|
Capital Appreciation.
|
LVIP MFS Value Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.87%2
|
7.80%
|
11.10%
|
8.30%
|
Current income consistent with the
preservation of capital.
|
LVIP Mondrian Global Income Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.90%2
|
3.76%
|
-1.16%
|
0.01%
|
Long-term capital appreciation as
measured by the change in the value of
fund shares over a period of three years
or longer.
|
LVIP Mondrian International Value Fund
- Service Class
advised by Lincoln Financial Investments
Corporation
|
1.00%2
|
19.81%
|
5.77%
|
3.19%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
|
|
|
1 year
|
5 year
|
10 year
|
To seek a high level of current income
consistent with preservation of capital.
|
LVIP PIMCO Low Duration Bond Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.93%2
|
4.61%
|
1.04%
|
N/A
|
To match as closely as practicable,
before fees and expenses, the
performance of the Bloomberg U.S.
Aggregate Index.
|
LVIP SSGA Bond Index Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
|
0.62%2
|
5.03%
|
0.52%
|
1.23%
|
A high level of current income, with
some consideration given to growth of
capital. A fund of funds.
|
LVIP SSGA Conservative Index
Allocation Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.76%2
|
10.46%
|
5.02%
|
3.83%
|
Long-term growth of capital. A fund of
funds.
|
LVIP SSGA Global Tactical Allocation
Managed Volatility Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.84%2
|
13.22%
|
6.02%
|
3.65%
|
To approximate as closely as practicable,
before fees and expenses, the
performance of a broad market index of
non-U.S. foreign securities.
|
LVIP SSGA International Index Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.64%2
|
17.27%
|
7.70%
|
3.76%
|
A balance between a high level of
current income and growth of capital,
with a greater emphasis on growth of
capital. A fund of funds.
|
LVIP SSGA Moderate Index Allocation
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.76%
|
13.28%
|
7.11%
|
5.07%
|
A balance between high level of current
income and growth of capital, with a
greater emphasis on growth of capital. A
fund of funds.
|
LVIP SSGA Moderately Aggressive Index
Allocation Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.76%
|
14.54%
|
7.77%
|
5.45%
|
To approximate as closely as practicable,
before fees and expenses, the total rate
of return of common stocks publicly
traded in the United States, as
represented by the S&P 500 Index.
|
LVIP SSGA S&P 500 Index Fund -
Service Class4
advised by Lincoln Financial Investments
Corporation
|
0.48%
|
25.70%
|
15.12%
|
11.49%
|
To provide investment results that,
before fees and expenses, correspond
generally to the price and yield
performance of an index that tracks the
short-term U.S. corporate bond market.
|
LVIP SSGA Short-Term Bond Index Fund
- Service Class
advised by Lincoln Financial Investments
Corporation
|
0.61%2
|
4.91%
|
1.62%
|
N/A
|
To approximate as closely as practicable,
before fees and expenses, the
performance of the Russell 2000®
Index, which emphasizes stocks of small
U.S. companies.
|
LVIP SSGA Small-Cap Index Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.63%2
|
16.21%
|
9.25%
|
6.47%
|
A high level of current income, with
some consideration given to growth of
capital. A fund of funds.
|
LVIP Structured Conservative Allocation
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.85%
|
9.99%
|
4.80%
|
3.71%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
|
|
|
1 year
|
5 year
|
10 year
|
A balance between a high level of
current income and growth of capital,
with an emphasis on growth of capital. A
fund of funds.
|
LVIP Structured Moderate Allocation
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.82%
|
12.81%
|
6.86%
|
4.96%
|
A balance between high level of current
income and growth of capital, with a
greater emphasis on growth of capital. A
fund of funds.
|
LVIP Structured Moderately Aggressive
Allocation Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.84%
|
13.98%
|
7.42%
|
5.28%
|
The highest total return over time
consistent with an emphasis on both
capital growth and income. A fund of
funds.
|
LVIP T. Rowe Price 2020 Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after June 30, 2009.
|
0.91%2
|
13.27%
|
7.15%
|
4.64%
|
The highest total return over time
consistent with an emphasis on both
capital growth and income. A fund of
funds.
|
LVIP T. Rowe Price 2030 Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after June 30, 2009.
|
0.93%2
|
15.84%
|
8.80%
|
5.20%
|
The highest total return over time
consistent with an emphasis on both
capital growth and income. A fund of
funds.
|
LVIP T. Rowe Price 2040 Fund - Service
Class
advised by Lincoln Financial Investments
Corporation
This fund is not available in contracts
issued on or after June 30, 2009.
|
0.95%2
|
18.89%
|
10.44%
|
5.85%
|
To maximize capital appreciation.
|
LVIP T. Rowe Price Structured Mid-Cap
Growth Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.97%2
|
20.87%
|
13.22%
|
10.54%
|
High level of current income and growth
of capital, with an emphasis on growth
of capital. A fund of funds.
|
LVIP U.S. Growth Allocation Managed
Risk Fund - Service Class
advised by Lincoln Financial Investments
Corporation
This fund is only available in contracts
issued on or after May 18, 2015.
|
1.04%2
|
14.72%
|
5.88%
|
N/A
|
Total return consistent with the
preservation of capital. A fund of funds.
|
LVIP Vanguard Bond Allocation Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.62%
|
5.73%
|
0.33%
|
1.02%
|
Long-term capital appreciation. A fund
of funds.
|
LVIP Vanguard Domestic Equity ETF
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.57%2
|
24.91%
|
14.55%
|
10.81%
|
Long-term capital appreciation. A fund
of funds.
|
LVIP Vanguard International Equity ETF
Fund - Service Class
advised by Lincoln Financial Investments
Corporation
|
0.59%2
|
15.07%
|
6.84%
|
3.74%
|
Capital growth.
|
LVIP Wellington Capital Growth Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
0.95%2
|
38.35%
|
16.68%
|
13.63%
|
Investment Objective
|
Fund and
Adviser/Sub-adviser1
|
Current Expenses
|
Average Annual Total
Returns (as of 12/31/2023)
|
||
|
|
|
1 year
|
5 year
|
10 year
|
Long-term capital appreciation.
|
LVIP Wellington SMID Cap Value Fund -
Service Class
advised by Lincoln Financial Investments
Corporation
|
1.04%2
|
16.95%
|
12.17%
|
7.44%
|
Long-term capital appreciation.
|
Macquarie VIP Emerging Markets Series
- Service Class3
(formerly Delaware VIP® Emerging
Markets Series)
advised by Delaware Management
Company
|
1.48%2
|
13.45%
|
3.87%
|
2.38%
|
Capital Appreciation.
|
Macquarie VIP Small Cap Value Series -
Service Class3
(formerly Delaware VIP® Small Cap
Value Series)
advised by Delaware Management
Company
|
1.08%
|
9.10%
|
9.87%
|
6.77%
|
Capital Appreciation.
|
MFS® VIT Growth Series - Service Class
advised by Massachusetts Financial
Services Company
|
0.98%2
|
35.51%
|
15.59%
|
12.69%
|
Total return.
|
MFS® VIT Total Return Series - Service
Class
advised by Massachusetts Financial
Services Company
|
0.86%2
|
10.22%
|
8.27%
|
6.27%
|
Total return.
|
MFS® VIT Utilities Series - Service Class
advised by Massachusetts Financial
Services Company
|
1.04%2
|
-2.33%
|
8.05%
|
6.13%
|
Long-term capital appreciation by
investing primarily in growth-oriented
equity securities of large capitalization
companies.
|
Morgan Stanley VIF Growth Portfolio -
Class II
This fund is not available in contracts
issued on or after October 31, 2011.
|
0.82%2
|
48.32%
|
10.95%
|
11.62%
|
Maximum real return, consistent with
prudent investment management.
|
PIMCO VIT CommodityRealReturn®
Strategy Portfolio - Advisor Class
advised by Pacific Investment
Management Company, LLC
|
1.58%2
|
-7.93%
|
8.46%
|
-0.90%
|
Capital growth and current income.
|
Putnam VT Large Cap Value Fund - Class
IB
|
0.82%
|
15.67%
|
14.50%
|
10.26%
|
High current income consistent with
preservation of capital; capital
appreciation is a secondary objective.
|
Templeton Global Bond VIP Fund - Class
2
|
0.75%2
|
2.88%
|
-2.13%
|
-0.66%
|
If you elect...
|
and the date of election is...
|
you will be subject to
Investment Requirements
|
Lincoln Lifetime IncomeSM Advantage 2.0 (Managed
Risk)
|
On or after May 21, 2012
|
Option 3 for Managed Risk
riders
|
i4LIFE® Advantage Guaranteed Income Benefit
(Managed Risk)
|
On or after May 21, 2012
|
Option 3 for Managed Risk
riders
|
Lincoln Lifetime IncomeSM Advantage 2.0
|
On or after November 15, 2010
|
Option 3
|
Lincoln Lifetime IncomeSM Advantage
|
February 19, 2008 through January 19, 2009
On or after January 20, 2009
|
Option 2
Option 3
|
Lincoln SmartSecurity® Advantage
|
Prior to April 10, 2006
April 10, 2006 through January 19, 2009
On or after January 20, 2009
|
N/A
Option 1
Option 3
|
4LATER® Advantage
|
April 10, 2006 through January 19, 2009
On or after January 20, 2009
|
Option 1
Option 3
|
i4LIFE® Advantage Guaranteed Income Benefit (v.1)
|
Prior to April 10, 2006
On or after April 10, 2006
|
N/A
Option 1
|
i4LIFE® Advantage Guaranteed Income Benefit (v.2)
|
April 10, 2006 through January 19, 2009
On or after January 20, 2009
|
Option 1
Option 3
|
If you elect...
|
and the date of election is...
|
you will be subject to
Investment Requirements
|
i4LIFE® Advantage Guaranteed Income Benefit (v.3)
|
October 6, 2008 through January 19, 2009
On or after January 20, 2009
|
Option 2
Option 3
|
i4LIFE® Advantage Guaranteed Income Benefit (v.4)
|
On or after November 15, 2010
|
Option 3
|
Group 1
Investments must be at least 25% of Contract
Value or Account Value
|
Group 2
Investments cannot exceed 75% of Contract
Value or Account Value
|
Group 3
Investments cannot exceed 10% of Contract
Value or Account Value
|
LVIP BlackRock Inflation Protected Bond Fund
LVIP Macquarie Bond Fund
LVIP Macquarie Diversified Floating Rate Fund
LVIP Macquarie Diversified Income Fund
LVIP Macquarie High Yield Fund
LVIP Macquarie Limited-Term Diversified Income
Fund
LVIP Mondrian Global Income Fund
LVIP PIMCO Low Duration Bond Fund
LVIP SSGA Bond Index Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Vanguard Bond Allocation Fund
Templeton Global Bond VIP Fund
|
All other Subaccounts except those in Group 3
and as discussed below.
|
DWS Alternative Asset Allocation VIP Portfolio
LVIP Franklin Templeton Multi-Factor Emerging
Markets Equity Fund
LVIP Macquarie U.S. REIT Fund
|
Group 1
Investments must be at least 20% of Contract
Value or Account Value
|
Group 2
Investments cannot exceed 80% of Contract
Value or Account Value
|
Group 3
Investments cannot exceed 10% of Contract
Value or Account Value
|
LVIP BlackRock Inflation Protected Bond Fund
LVIP Macquarie Bond Fund
LVIP Macquarie Diversified Floating Rate Fund
LVIP Macquarie Diversified Income Fund
LVIP Macquarie Limited-Term Diversified Income
Fund
LVIP Mondrian Global Income Fund (not available
for riders purchased on or after May 21, 2018)
LVIP PIMCO Low Duration Bond Fund
LVIP SSGA Bond Index Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Vanguard Bond Allocation Fund
|
LVIP BlackRock Dividend Value Managed
Volatility Fund
LVIP Blended Large Cap Growth Managed
Volatility Fund
LVIP Blended Mid Cap Managed Volatility Fund
LVIP Dimensional International Equity Managed
Volatility Fund
LVIP Dimensional U.S. Equity Managed Volatility
Fund
LVIP Franklin Templeton Global Equity Managed
Volatility Fund
LVIP Global Conservative Allocation Managed
Risk Fund
LVIP Global Growth Allocation Managed Risk
Fund
LVIP Global Moderate Allocation Managed Risk
Fund
LVIP JPMorgan Select Mid Cap Value Managed
Volatility Fund
LVIP SSGA Global Tactical Allocation Managed
Volatility Fund
LVIP U.S. Growth Allocation Managed Risk Fund
|
No subaccounts at this time.
|
Group 1
Investments must be at least 30% of Contract
Value or Account Value
|
Group 2
Investments cannot exceed 70% of Contract
Value or Account Value
|
Group 3
Investments cannot exceed 10% of Contract
Value or Account Value
|
LVIP BlackRock Inflation Protected Bond Fund
LVIP Macquarie Bond Fund
LVIP Macquarie Diversified Floating Rate Fund
LVIP Macquarie Diversified Income Fund
LVIP Macquarie Limited-Term Diversified Income
Fund
LVIP Mondrian Global Income Fund
LVIP PIMCO Low Duration Bond Fund
LVIP SSGA Bond Index Fund
LVIP SSGA Short-Term Bond Index Fund
LVIP Vanguard Bond Allocation Fund
Templeton Global Bond VIP Fund*
|
All other Subaccounts except those in Group 3
and as described below.
|
AB VPS Sustainable Global Thematic Portfolio
DWS Alternative Asset Allocation VIP Portfolio
LVIP BlackRock Real Estate Fund
LVIP Franklin Templeton Multi-Factor Emerging
Markets Equity Fund
LVIP Macquarie U.S. REIT Fund
Macquarie VIP Emerging Markets Series
MFS® VIT Utilities Series
|
|
Guaranteed Maximum Annual Fee Rate*
|
|
Single
Life
|
Joint
Life
|
|
Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk) on or after May 21, 2018
|
2.25%
|
2.45%
|
|
Current Annual Fee Rate
|
Guaranteed Maximum Annual Fee Rate
|
||
Single
Life
|
Joint
Life
|
Single
Life
|
Joint
Life
|
|
Lincoln Lifetime
IncomeSM Advantage 2.0
(Managed Risk) riders
elected prior to May 21,
20181
|
1.25%
|
1.50%
|
2.00%
|
2.00%
|
Lincoln Lifetime
IncomeSM Advantage
2.0*
|
1.25%
(0.3125% quarterly)
|
1.50%
(0.3750% quarterly)
|
2.00%
|
2.00%
|
|
Current Fee
|
Beginning January 11, 2021
|
1.25%
|
January 20, 2009 through January 10, 2021
|
0.90%
|
Prior to January 20, 2009
|
0.75%
|
|
Current Fee
|
Beginning January 11, 2021
|
0.95%
|
December 3, 2012 through January 10, 2021
|
0.85%
|
January 20, 2009 through December 2, 2012
|
0.65%
|
Prior to January 20, 2009
|
0.45%
|
|
Current Fee
|
|
|
Single
Life
|
Joint
Life
|
Beginning January 11, 2021
|
1.00%
|
1.25%
|
December 3, 2012 through January 10, 2021
|
0.85%
|
1.00%
|
Prior to December 3, 2012
|
0.65%
|
0.80%
|
|
Current Fee
|
Beginning January 11, 2021
|
0.90%
|
January 20, 2009 through January 10, 2021
|
0.65%
|
Prior to January 20, 2009
|
0.50%
|
|
Contract
Value
|
Protected Income Base
|
At issue
|
$47,750
*
|
$50,000
|
1st Benefit Year anniversary
|
$54,000
|
$54,000
|
2nd Benefit Year anniversary
|
$53,900
|
$56,700
|
Contract Value on the rider's effective date
|
$200,000
|
Protected Income Base and Enhancement Base on the rider's
effective date
|
$200,000
|
Initial Protected Annual Income amount on the rider's effective
date ($200,000 x 4.00%)
|
$8,000
|
Contract Value six months after rider's effective date
|
$210,000
|
Protected Income Base and Enhancement Base six months after
rider's effective date
|
$200,000
|
Withdrawal six months after rider's effective date
|
$8,000
|
Contract Value after withdrawal ($210,000 - $8,000)
|
$202,000
|
Protected Income Base and Enhancement Base after withdrawal
($200,000 - $0)
|
$200,000
|
Contract Value on first Benefit Year anniversary
|
$205,000
|
Protected Income Base and Enhancement Base on first Benefit
Year anniversary
|
$205,000
|
Protected Annual Income amount on first Benefit Year anniversary
($205,000 x 4.00%)
|
$8,200
|
Initial Purchase Payment
|
$100,000
|
|
Additional Purchase Payment in Year 2
|
$95,000
|
No change to charge
|
Additional Purchase Payment in Year 3
|
$50,000
|
Charge will be the then current charge
|
Additional Purchase Payment in Year 4
|
$25,000
|
Charge will be the then current charge
|
|
Contract
Value
|
Guaranteed
Amount
|
Potential for
Charge to
Change
|
Length of 5%
Enhancement
Period
|
Initial Purchase Payment $50,000
|
$47,750
*
|
$50,000
|
No
|
10
|
1st Benefit Year anniversary
|
$54,000
|
$54,000
|
Yes
|
10
|
2nd Benefit Year anniversary
|
$53,900
|
$56,700
|
No
|
9
|
3rd Benefit Year anniversary
|
$57,000
|
$59,535
|
No
|
8
|
4th Benefit Year anniversary
|
$64,000
|
$64,000
|
Yes
|
10
|
|
Contract
Value
|
Guaranteed
Amount
|
Maximum Annual
Withdrawal Amount
|
Initial Purchase Payment $50,000
|
$47,750
*
|
$50,000
|
$2,500
|
1st Benefit Year anniversary
|
$54,000
|
$54,000
|
$2,700
|
2nd Benefit Year anniversary
|
$51,000
|
$51,300
|
$2,700
|
3rd Benefit Year anniversary
|
$57,000
|
$57,000
|
$2,850
|
4th Benefit Year anniversary
|
$64,000
|
$64,000
|
$3,200
|
|
Contract
Value
|
Guaranteed
Amount
|
Initial Purchase Payment $50,000 (less 4.5% sales charge)
|
$47,750
|
$50,000
|
1st Benefit Year anniversary
|
$54,000
|
$54,000
|
2nd Benefit Year anniversary
|
$53,900
|
$54,000
|
3rd Benefit Year anniversary
|
$57,000
|
$57,000
|
Initial Purchase Payment
|
$100,000
|
|
Purchase Payment 60 days later
|
$10,000
|
|
Protected Income Base
|
$110,000
|
|
Future Protected Income Base (during the 1st Waiting Period)
|
$126,500
|
($110,000 x 115%)
|
Protected Income Base (after 1st Waiting Period)
|
$126,500
|
|
New Future Protected Income Base (during 2nd Waiting Period)
|
$145,475
|
($126,500 x 115%)
|
Protected Income Base
|
$100,000
|
|
Purchase Payment in Year 2
|
$10,000
|
|
New Protected Income Base
|
$110,000
|
|
Future Protected Income Base (during 1st Waiting Period-Year 2)
|
$125,500
|
($100,000 x 115%) +
|
|
|
($10,000 x 100%) +
|
|
|
($10,000 x 15% x 1/3)
|
Protected Income Base (after 1st Waiting Period)
|
$125,500
|
|
New Future Protected Income Base (during 2nd Waiting Period)
|
$144,325
|
(125,500 x 115%)
|
Protected Income Base
|
$100,000
|
Maximum Protected Income Base
|
$200,000
|
Purchase Payment in Year 2
|
$10,000
|
Increase to Maximum Protected Income Base
|
$20,000
|
New Protected Income Base
|
$110,000
|
New Maximum Protected Income Base
|
$220,000
|
Future Protected Income Base after Purchase
Payment
|
$125,500
|
Maximum Protected Income Base
|
$220,000
|
Protected Income Base (after 1st Waiting
Period)
|
$125,500
|
|
|
Future Protected Income Base (during 2nd
Waiting Period)
|
$144,325
|
Maximum Protected Income Base
|
$220,000
|
Contract Value in Year 4
|
$112,000
|
|
|
Withdrawal of 10%
|
$11,200
|
|
|
After Withdrawal (10% adjustment)
|
|
|
|
Contract Value
|
$100,800
|
|
|
Protected Income Base
|
$112,950
|
|
|
Future Protected Income Base
|
$129,893
|
Maximum Protected Income Base
|
$198,000
|
i4LIFE® Account Value before market decline
|
$135,000
|
i4LIFE® Account Value after market decline
|
$100,000
|
Guaranteed Income Benefit
|
$810
|
Regular Income Payment after market decline
|
$769
|
Account Value after market decline and Guaranteed Income Benefit
payment
|
$99,190
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
59 – 64
|
4.75%
|
59 – 64
|
4.25%
|
65 – 69
|
5.75%
|
65 – 69
|
5.25%
|
70 – 74
|
6.05%
|
70 – 74
|
5.55%
|
75+
|
6.25%
|
75+
|
5.75%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
59 – 64
|
4.60%
|
59 – 64
|
4.10%
|
65 – 69
|
5.55%
|
65 – 69
|
5.05%
|
70 – 74
|
5.75%
|
70 – 74
|
5.25%
|
75+
|
6.05%
|
75+
|
5.55%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
59 – 64
|
4.35%
|
59 – 64
|
3.85%
|
65 – 69
|
5.40%
|
65 – 69
|
4.90%
|
70 – 74
|
5.50%
|
70 – 74
|
5.00%
|
75+
|
5.70%
|
75+
|
5.20%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
65 – 69
|
5.30%
|
65 – 69
|
4.80%
|
70+
|
5.40%
|
70+
|
4.90%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
65 – 69
|
5.15%
|
65 – 69
|
4.65%
|
70+
|
5.25%
|
70+
|
4.75%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
65+
|
5.00%
|
65+
|
4.50%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
55 – 58
|
3.20%
|
55 – 58
|
2.90%
|
59 – 64
|
4.50%
|
59 – 64
|
4.00%
|
65 – 69
|
5.35%
|
65 – 69
|
5.00%
|
70 – 74
|
5.45%
|
70 – 74
|
5.10%
|
75+
|
5.60%
|
75+
|
5.20%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
55 – 58
|
3.50%
|
55 – 58
|
3.20%
|
59 – 64
|
4.50%
|
59 – 64
|
4.10%
|
65 – 69
|
5.50%
|
65 – 69
|
5.20%
|
70 – 74
|
5.60%
|
70 – 74
|
5.30%
|
75+
|
5.70%
|
75+
|
5.40%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
55 – 58
|
3.75%
|
55 – 58
|
3.75%
|
59 – 64
|
4.50%
|
59 – 64
|
4.25%
|
65 – 69
|
5.75%
|
65 – 69
|
5.50%
|
70 – 74
|
5.75%
|
70 – 74
|
5.60%
|
75+
|
6.00%
|
75+
|
5.75%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
55 – 58
|
3.75%
|
55 – 58
|
3.75%
|
59 – 64
|
4.50%
|
59 – 64
|
4.25%
|
65 – 69
|
5.85%
|
65 – 69
|
5.50%
|
70 – 74
|
5.90%
|
70 – 74
|
5.60%
|
75+
|
6.00%
|
75+
|
5.75%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
55 – 58
|
3.75%
|
55 – 58
|
3.75%
|
59 – 64
|
4.50%
|
59 – 64
|
4.25%
|
65 – 69
|
5.75%
|
65 – 69
|
5.50%
|
70 – 74
|
5.75%
|
70 – 74
|
5.60%
|
75+
|
6.00%
|
75+
|
5.75%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
55 – 58
|
3.75%
|
55 – 58
|
3.75%
|
59 – 64
|
4.50%
|
59 – 64
|
4.25%
|
65 – 74
|
5.75%
|
65 – 74
|
5.35%
|
75+
|
6.00%
|
75+
|
5.75%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
55 – 58
|
3.50%
|
55 – 58
|
3.50%
|
59 – 64
|
4.50%
|
59 – 64
|
4.25%
|
65 – 74
|
5.50%
|
65 – 74
|
5.25%
|
75+
|
5.85%
|
75+
|
5.60%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
55 – 58
|
3.50%
|
55 – 58
|
3.50%
|
59 - 64
|
4.25%
|
59 – 64
|
4.00%
|
65+
|
5.25%
|
65+
|
5.00%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual
Income rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual
Income rate
|
55 – 58
|
3.50%
|
55 – 58
|
3.50%
|
59 - 64
|
4.00%
|
59 – 64
|
4.00%
|
65+
|
5.00%
|
65 – 74
|
4.50%
|
|
|
75+
|
5.00%
|
Single & Joint Life Option*
|
Single & Joint Life Option
|
Age
|
Protected Annual
Income rate
|
55 – 58
|
3.50%
|
Single & Joint Life Option*
|
Single & Joint Life Option
|
Age
|
Protected Annual
Income rate
|
59 - 64
|
4.00%
|
65+
|
5.00%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
55 – 58
|
4.00%
|
55 – 64
|
4.00%
|
59+
|
5.00%
|
65+
|
5.00%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income
rate
|
55 – 58
|
3.00%
|
55 – 58
|
3.00%
|
59 - 64
|
3.50%
|
59 – 64
|
3.50%
|
65 – 69
|
4.50%
|
65 – 69
|
4.00%
|
70+
|
5.00%
|
70+
|
4.50%
|
Single & Joint Life Option*
|
Single & Joint Life Option
|
Age
|
Protected Annual
Income rate
|
55 – 58
|
3.00%
|
59 – 64
|
3.50%
|
65 – 69
|
4.50%
|
70+
|
5.00%
|
Single Life Option
|
Joint Life Option*
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income rate
|
55 – 58
|
3.50%
|
55 – 64
|
3.50%
|
59 – 64
|
4.00%
|
65 – 69
|
4.50%
|
65 – 69
|
4.50%
|
70+
|
5.00%
|
70+
|
5.00%
|
|
|
Single Life Option
|
Joint Life Option*
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income rate
|
55 – 58
|
4.00%
|
55 – 64
|
4.00%
|
Single Life Option
|
Joint Life Option*
|
||
Age
|
Protected Annual Income
rate
|
Age
(younger of you and
your spouse’s age)
|
Protected Annual Income rate
|
59+
|
5.00%
|
65+
|
5.00%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Percentage of Account
Value or Protected Income Base*
|
Age
(younger of you and
your spouse’s age)
|
Percentage of Account
Value or Protected Income Base*
|
Under age 40
|
2.00%
|
Under age 40
|
2.00%
|
40 – 54
|
2.25%
|
40 – 54
|
2.00%
|
55 – 58
|
2.25%
|
55 – 58
|
2.00%
|
59 – 64
|
3.25%
|
59 – 64
|
2.50%
|
65 – 69
|
4.00%
|
65 – 69
|
3.00%
|
70 – 74
|
4.50%
|
70 – 74
|
3.25%
|
75 – 79
|
4.50%
|
75 – 79
|
3.50%
|
80+
|
4.50%
|
80+
|
3.75%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Percentage of Account
Value or Protected Income Base*
|
Age
(younger of you and
your spouse’s age)
|
Percentage of Account
Value or Protected Income Base*
|
Under age 40
|
2.50%
|
Under age 40
|
2.50%
|
40 – 54
|
3.00%
|
40 – 54
|
2.75%
|
55 – 58
|
3.25%
|
55 – 58
|
3.00%
|
59 – 64
|
3.75%
|
59 – 64
|
3.50%
|
65 – 69
|
4.25%
|
65 – 69
|
4.00%
|
70 – 74
|
5.00%
|
70 – 74
|
4.25%
|
75 – 79
|
5.00%
|
75 – 79
|
4.75%
|
80+
|
5.25%
|
80+
|
5.00%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Percentage of Account
Value or Protected Income Base*
|
Age
(younger of you and
your spouse’s age)
|
Percentage of Account
Value or Protected Income Base*
|
Under age 40
|
2.50%
|
Under age 40
|
2.50%
|
40 – 54
|
3.00%
|
40 – 54
|
3.00%
|
55 – 58
|
3.50%
|
55 – 58
|
3.50%
|
59 – 64
|
4.00%
|
59 – 69
|
4.00%
|
65 – 69
|
4.50%
|
70 – 74
|
4.50%
|
70 – 79
|
5.00%
|
75 – 79
|
5.00%
|
80+
|
5.50%
|
80+
|
5.50%
|
Single Life Option
|
Joint Life Option
|
||
Age
|
Percentage of Account
Value, Protected Income Base or
Guaranteed Amount*
|
Age
(younger of you and
your spouse’s age)
|
Percentage of Account
Value, Protected Income Base or
Guaranteed Amount*
|
Under age 40
|
2.00%
|
Under age 40
|
2.00%
|
40 – 54
|
2.50%
|
40 – 54
|
2.50%
|
55 – 58
|
3.00%
|
55 – 58
|
3.00%
|
59 – 64
|
3.50%
|
59 – 69
|
3.50%
|
65 – 69
|
4.00%
|
70 – 74
|
4.00%
|
70 – 74
|
4.50%
|
75+
|
4.50%
|
75+
|
5.00%
|
|
|
Single & Joint Life Option*
|
Single & Joint Life Option*
|
Age
|
Percentage of Account
Value or Protected Income Base**
|
Under age 40
|
2.50%
|
40 – 54
|
3.00%
|
55 – 58
|
3.50%
|
59 – 64
|
4.00%
|
65 – 69
|
4.50%
|
70 – 79
|
5.00%
|
80+
|
5.50%
|
Single & Joint Life Option*
|
Single & Joint Life Option*
|
Age
|
Percentage of Account Value,
Protected Income Base or Guaranteed Amount**
|
Under age 40
|
2.00%
|
40 – 54
|
2.50%
|
55 – 58
|
3.00%
|
59 – 64
|
3.50%
|
65 – 69
|
4.00%
|
70 – 74
|
4.50%
|
75+
|
5.00%
|
Single & Joint Life Option*
|
Single & Joint Life Option*
|
Age
|
Percentage of Account Value,
Protected Income Base or Guaranteed Amount**
|
Under age 40
|
2.50%
|
Single & Joint Life Option*
|
Single & Joint Life Option*
|
Age
|
Percentage of Account Value,
Protected Income Base or Guaranteed Amount**
|
40 – 54
|
3.00%
|
55 – 58
|
3.50%
|
59 – 64
|
4.00%
|
65 – 69
|
4.50%
|
70 – 79
|
5.00%
|
80+
|
5.50%
|
If your rider was purchased:
|
The Enhancement is based on the…
|
…multiplied by the
Enhancement Rate of…
|
On or after July 25, 2022, but prior to June 25, 2023
|
Enhancement Base
|
7%
|
On or after May 18, 2020, but prior to July 25, 2022
|
Enhancement Base
|
5%
|
On or after February 20, 2018 (April 2, 2018, if your
rider was elected after the contract issue date), but prior
to May 18, 2020, subject to state availability
|
Enhancement Base
|
6%
|
Prior to February 20, 2018 (April 2, 2018, if your rider
was elected after the contract issue date)
|
Protected Income Base
|
5%
|
|
Single
Life
|
Joint
Life
|
Riders elected between October 12, 2020 and April 30, 2023
|
1.50%
|
1.60%
|
Riders elected on or after May 21, 2018 and prior to October 12, 2020
|
1.25%
|
1.50%
|
Riders elected prior to May 21, 2018
|
1.05%
|
1.25%
|
|
Single
Life
|
Joint
Life
|
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) riders elected prior to April 30,
2024
|
0.65%
|
0.85%
|
|
|
|
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) for Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk) riders elected between October 12, 2020 and June 25, 2023
|
1.50%
|
1.60%
|
|
|
|
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) for Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk) riders elected on or after May 21, 2018 and prior to October 12, 2020
|
1.25%
|
1.50%
|
|
|
|
i4LIFE® Advantage Guaranteed Income Benefit (Managed Risk) for Lincoln Lifetime IncomeSM Advantage 2.0
(Managed Risk) riders elected prior to May 21, 2018
|
1.05%
|
1.25%
|
SAI 2
Contents
|
Page
|
B-2
|
|
B-2
|
|
B-2
|
|
B-2
|
|
B-3
|
|
B-3
|
|
B-4
|
|
B-4
|
|
B-5
|
Contents
|
Page
|
B-5
|
|
B-5
|
|
B-5
|
|
B-7
|
|
B-8
|
|
B-8
|
|
B-8
|
|
B-9
|
Single Premium
|
$50,000
|
Premium taxes
|
None
|
Withdrawals
|
None
|
Guaranteed Period
|
5 years
|
Guaranteed Interest Rate
|
3.50%
|
Annuity Date
|
Age 70
|
Index Rate A
|
3.50%
|
Index Rate B
|
4.00% End of Contract Year 1
3.50% End of Contract Year 2
3.00% End of Contract Year 3
2.00% End of Contract Year 4
|
Percentage adjustment to B
|
0.50%
|
Interest Adjustment Formula
|
(1 + Index A)n
|
-1
|
n = Remaining Guaranteed Period
|
(1 + Index B + % Adjustment)n
|
Contract Year
|
(1)
Annuity
Value
|
(2)
1 + Interest
Adjustment Formula
|
(3)
Adjusted
Annuity
Value
|
(4)
Minimum
Value
|
(5)
Greater of
(3) & (4)
|
(6)
Surrender
Charge
|
(7)
Surrender
Value
|
1
|
$51,710
|
0.962268
|
$49,759
|
$50,710
|
$50,710
|
$4,250
|
$46,460
|
2
|
$53,480
|
0.985646
|
$52,712
|
$51,431
|
$52,712
|
$4,250
|
$48,462
|
3
|
$55,312
|
1.000000
|
$55,312
|
$52,162
|
$55,312
|
$4,000
|
$51,312
|
4
|
$57,208
|
1.009756
|
$57,766
|
$52,905
|
$57,766
|
$3,500
|
$54,266
|
5
|
$59,170
|
N/A
|
$59,170
|
$53,658
|
$59,170
|
$3,000
|
$56,170
|
Contract Year
|
BOY*
Annuity
Value
|
|
Guaranteed
Interest Rate
|
|
Annual
Account
Fee
|
|
EOY**
Annuity
Value
|
1
|
$50,000
|
x
|
1.035
|
-
|
$40
|
=
|
$51,710
|
2
|
$51,710
|
x
|
1.035
|
-
|
$40
|
=
|
$53,480
|
3
|
$53,480
|
x
|
1.035
|
-
|
$40
|
=
|
$55,312
|
4
|
$55,312
|
x
|
1.035
|
-
|
$40
|
=
|
$57,208
|
5
|
$57,208
|
x
|
1.035
|
-
|
$40
|
=
|
$59,170
|
Contract Year
|
Surrender
Charge
Factor
|
|
Deposit
|
|
Surrender
Charge
|
1
|
8.5%
|
x
|
$50,000
|
=
|
$4,250
|
2
|
8.5%
|
x
|
$50,000
|
=
|
$4,250
|
3
|
8.0%
|
x
|
$50,000
|
=
|
$4,000
|
4
|
7.0%
|
x
|
$50,000
|
=
|
$3,500
|
5
|
6.0%
|
x
|
$50,000
|
=
|
$3,000
|
Contract Year
|
Index A
|
Index B
|
Adj Index B
|
N
|
Result
|
1
|
3.50
%
|
4.00
%
|
4.50
%
|
4
|
0.962268
|
2
|
3.50
%
|
3.50
%
|
4.00
%
|
3
|
0.985646
|
3
|
3.50
%
|
3.00
%
|
3.50
%
|
2
|
1.000000
|
4
|
3.50
%
|
2.00
%
|
2.50
%
|
1
|
1.009756
|
5
|
3.50
%
|
N/A
|
N/A
|
N/A
|
N/A
|
Contract Year
|
|
|
Minimum
Guaranteed
Interest Rate
|
|
Annual
Account
Fee
|
|
Minimum
Value
|
1
|
$50,000
|
x
|
1.015
|
-
|
$40
|
=
|
$50,710
|
2
|
$50,710
|
x
|
1.015
|
-
|
$40
|
=
|
$51,431
|
3
|
$51,431
|
x
|
1.015
|
-
|
$40
|
=
|
$52,162
|
4
|
$52,162
|
x
|
1.015
|
-
|
$40
|
=
|
$52,905
|
5
|
$52,905
|
x
|
1.015
|
-
|
$40
|
=
|
$53,658
|
Name
|
Positions and Offices with Depositor
|
Craig T. Beazer*
|
Executive Vice President, General Counsel and Director
|
Jayson R. Bronchetti*
|
Executive Vice President, Chief Investment Officer and Director
|
Adam M. Cohen*
|
Senior Vice President, Chief Accounting Officer and Treasurer
|
Ellen G. Cooper*
|
President and Director
|
Stephen B. Harris*
|
Senior Vice President and Chief Ethics and Compliance Officer
|
Christopher M. Neczypor*
|
Executive Vice President, Chief Financial Officer and Director
|
Nancy A. Smith*
|
Senior Vice President and Secretary
|
Joseph D. Spada**
|
Vice President and Chief Compliance Officer for Separate Accounts
|
Eric B. Wilmer***
|
Assistant Vice President and Director
|
Name
|
Positions and Offices with Underwriter
|
Adam M. Cohen*
|
Senior Vice President and Treasurer
|
Jason M. Gibson**
|
Vice President and Chief Compliance Officer
|
Claire H. Hanna*
|
Secretary
|
John C. Kennedy*
|
President, Chief Executive Officer and Director
|
Jared M. Nepa*
|
Senior Vice President and Director
|
Thomas P. O'Neill*
|
Senior Vice President, Chief Operating Officer and Head of Financial
Institutions Group
|
Timothy J. Seifert Sr*
|
Senior Vice President and Director
|
SIGNATURES
(a) | As required by the Securities Act of 1933 and the Investment Company Act of 1940, each Registrant certifies that it meets the requirements of Securities Act Rule 485(b) for effectiveness of these registration statements and has caused these Post-Effective Amendments to the registration statements to be signed on its behalf, in the City of Fort Wayne, and the State of Indiana on this 10th day of April, 2024 at 3:21 pm. |
Lincoln National Variable Annuity Account E
Lincoln National Variable Annuity Account H
Lincoln Life Variable Annuity Account N
(Registrants)
By: | /s/ Daniel P. Herr | |
Daniel P. Herr | ||
Senior Vice President, The Lincoln National Life Insurance Company |
Signed on its behalf, in the City of Hartford, and the State of Connecticut on this 10th day of April, 2024 at 2:32 pm.
The Lincoln National Life Insurance Company
(Depositor)
By: | /s/ Michelle L. Grindle | |
Michelle L. Grindle | ||
(Signature-Officer of Depositor) | ||
Vice President, The Lincoln National Life Insurance Company |
Lincoln National Variable Annuity Account E (File No. 811-04882; CIK: 0000804223)
033-26032 (Amendment No. 78)
Lincoln National Variable Annuity Account H (File No. 811-05721; CIK: 0000847552)
033-27783 (Amendment No. 77) | 333-63505 (Amendment No. 86) | 333-181615 (Amendment No. 43) | ||
333-18419 (Amendment No. 80) | 333-135219 (Amendment No. 59) | 333-212681 (Amendment No. 23) | ||
333-35780 (Amendment No. 60) | 333-170695 (Amendment No. 53) | 333-233762 (Amendment No. 10) | ||
333-35784 (Amendment No. 75) | 333-175888 (Amendment No. 29) | 333-233764 (Amendment No. 16) | ||
333-61592 (Amendment No. 77) |
Lincoln Life Variable Annuity Account N (File No. 811-08517; CIK: 0001048606)
333-36316 (Amendment No. 98) | 333-172328 (Amendment No. 47) | 333-214143 (Amendment No. 28) | ||
333-36304 (Amendment No. 86) | 333-174367 (Amendment No. 35) | 333-214144 (Amendment No. 17) | ||
333-40937 (Amendment No. 92) | 333-181612 (Amendment No. 41) | 333-214235 (Amendment No. 16) | ||
333-61554 (Amendment No. 92) | 333-186894 (Amendment No. 44) | 333-236907 (Amendment No. 12) | ||
333-135039 (Amendment No. 59) | 333-193272 (Amendment No. 31) | 333-239288 (Amendment No. 9) | ||
333-138190 (Amendment No. 70) | 333-193273 (Amendment No. 23) | 333-252473 (Amendment No. 17) | ||
333-149434 (Amendment No. 42) | 333-193274 (Amendment No. 20) | 333-252653 (Amendment No. 12) | ||
333-170529 (Amendment No. 44) | 333-212680 (Amendment No. 26) | 333-252654 (Amendment No. 12) | ||
333-170897 (Amendment No. 48) | 333-212682 (Amendment No. 19) |
(b) | As required by the Securities Act of 1933, these Amendments to the registration statements have been signed by the following persons in their capacities indicated on April 10, 2024 at 3:21 pm. |
Signature | Title | |
*/s/ Ellen G. Cooper | President and Director | |
Ellen G. Cooper | (Principal Executive Officer) | |
*/s/ Christopher M. Neczypor | Executive Vice President, Chief Financial Officer, and Director | |
Christopher M. Neczypor | ||
*/s/ Craig T. Beazer | Executive Vice President and Director | |
Craig T. Beazer | ||
*/s/ Jayson R. Bronchetti | Executive Vice President, Chief Investment Officer, and Director | |
Jayson R. Bronchetti | ||
*/s/ Adam M. Cohen | Senior Vice President and Chief Accounting Officer | |
Adam M. Cohen | (Principal Accounting Officer) | |
*/s/ Eric B. Wilmer | Assistant Vice President and Director | |
Eric B. Wilmer |
* By | /s/ Daniel P. Herr, Pursuant to a Power of Attorney | |
Daniel P. Herr |