Consider the road ahead
Every family faces a unique set of circumstances when it comes to financial planning and thinking about the future. Sometimes, the circumstances require special considerations.
Lincoln variable annuities are the only annuities to offer i4LIFE® Advantage — an optional benefit designed to provide lifetime income for a broad range of situations.
A financial solution like i4LIFE® Advantage used in combination with a trust helps to effectively distribute wealth to your loved one according to their individual needs — for as long as they live.
A variable annuity is a long-term investment product that offers tax-deferred growth, access to leading investment managers, and a lifetime income stream. To decide if a variable annuity is right for you, consider that its value will fluctuate; it is subject to investment risk and possible loss of principal; and there are costs associated such as mortality and expense, administrative and advisory fees. All guarantees, including those for optional features, are subject to the claims-paying ability of the issuer. Limitations and conditions apply.
A more secure financial future for their son
What do you do when a loved one is unable to manage money on their own?
Debbie and Andy have always provided unconditional love for their son, Jason. They’ve worked hard, saved and planned for his future. But having an adult child with Autism Spectrum Disorder (ASD) can throw a wrench into even the best financial plans.
The couple decided to explore their options. Working with their financial professional, they put together a wish list. At the top, they wanted:
- Tax-efficient income for the rest of Jason’s life
- Growth potential to keep pace with rising medical costs
- A way for Jason to remain eligible for Social Security and Medicaid
A powerful combination: i4LIFE® Advantage and a special needs trust
Debbie and Andy found that by establishing a special needs trust that will distribute i4LIFE payments to Jason, they were able to address everything on their wish list. And more.
Loving someone struggling with addiction
What do you do when a loved one isn’t ready to manage money right now?
Evelyn and Phillip want to ensure their grandchildren are provided for in the future. When they learned that their granddaughter, Charlotte, has a substance use disorder, they reevaluated the legacy plan they have in place. While they won’t ever turn their back on Charlotte, they are concerned about what she might do with a lump sum. They want to be sure she receives her inheritance in a way that’s best for her well-being.
They ask their financial professional to help them plan to provide Charlotte with:
- Controlled distribution of her inheritance
- Income that starts immediately
- Opportunities for assets to grow
Providing for a loved one, while still maintaining control
One of the many advantages of combining i4LIFE® Advantage with a trust is the ability it gives you to preserve your assets and distribute them in the way you choose. In this case, Evelyn and Phillip use this combination to provide a loving legacy to Charlotte while maintaining some degree of control.
Together for the long haul
What do you do to help a spouse with PTSD manage money later in life?
Martin was in the military when he married Joselyn. When he returned home from his third deployment, he was diagnosed with PTSD (posttraumatic stress disorder). Through treatment, Martin has made great progress, but he’s still uncomfortable managing financial matters. As retirement nears, they both have concerns about what might happen down the road if Joselyn wasn’t around to handle their finances.
Together, they ask their financial professional to help with a plan that provides:
- Protection of their assets
- Supplemental income for both of their lives
- Tax-deferred growth opportunities
Lifetime income for two with an added layer of protection
They’re looking for two main things — protection and simplicity. By establishing a trust-owned annuity with i4LIFE® Advantage, they’ll get reliable retirement income for both of them, while also protecting their assets. And after a lifetime of hard work and service, Martin and Joselyn finally feel like they’ll be able to support their lifestyle throughout retirement.
It’s about family, love and life
Income planning for the people most important to you
Protected lifetime income helps to bring added certainty to your loved one’s financial future — even in situations that involve greater considerations. What makes i4LIFE® Advantage so effective is how well it adapts to your individual situation.
To learn more about i4LIFE® Advantage, visit https://www.lincolnfinancial.com/public/individuals/products/annuities/variableannuities/optionalfeatures/i4lifeadvantage.
Related: You Inherited an Annuity. Now What?
Lincoln Financial Group® affiliates, their distributors, and their respective employees, representatives and/or insurance agents do not provide tax, accounting or legal advice. Please consult an independent professional as to any tax, accounting or legal statements made herein.
Variable annuities are long-term investment products designed for retirement purposes and are subject to market fluctuation, investment risk, and possible loss of principal. Variable annuities contain both investment and insurance components and have fees and charges, including mortality and expense, administrative, and advisory fees. Optional features are available for an additional charge. The annuity’s value fluctuates with the market value of the underlying investment options, and all assets accumulate tax-deferred. Withdrawals of earnings are taxable as ordinary income and, if taken prior to age 59½, may be subject to an additional 10% federal tax. Withdrawals will reduce the death benefit and cash surrender value.
Investors are advised to consider the investment objectives, risks, and charges and expenses of the variable annuity and its underlying investment options carefully before investing. The applicable variable annuity prospectuses contain this and other important information about the variable annuity and its underlying investment options. Please call 888 868 2583 for a free prospectus. Read it carefully before investing or sending money. Products and features are subject to state availability.
Lincoln variable annuities are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and distributed by Lincoln Financial Distributors, Inc., a broker-dealer. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so.
Contracts sold in New York are issued by Lincoln Life & Annuity Company of New York, Syracuse, NY, and distributed by Lincoln Financial Distributors, Inc., a broker-dealer.
All contract and rider guarantees, including those for optional benefits, fixed subaccount crediting rates, or annuity payout rates, are subject to the claims-paying ability of the issuing insurance company. They are not backed by the broker-dealer or insurance agency from which this annuity is purchased, or any affiliates of those entities other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims-paying ability of the issuer.
There is no additional tax-deferral benefit for an annuity contract purchased in an IRA or other tax-qualified plan.