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Press Releases by Date   |   Press Releases by Company Name


View More Press Releases by Lincoln Financial Group

Press Release

Lincoln Financial Group launches the American Legacy® Target Date Income Variable Annuity with investments from Capital Group

Issued by Lincoln Financial Group

Jan. 21, 2020

First of Its Kind Solution Helps Americans Meet Retirement Income Needs by Joining Target Date Fund Investing with Protected Lifetime Income

RADNOR, Pa. -- January 21, 2020 -- Lincoln Financial Group (NYSE: LNC) and Capital Group, home of American Funds, are partnering to help investors prepare for income in retirement with the launch of the new American Legacy® Target Date Income variable annuity, the first-ever protected lifetime income solution with access to a target date series. This unique solution combines the features and benefits of an annuity with the simplicity and efficiency of a target date fund.

Lincoln Financial Group and Capital Group launch American Legacy Target Date Income, a first of its kind solution that joins target date fund investing with protected lifetime income to help Americans meet their retirement income needs

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“Our 30-year partnership with American Funds has always leveraged the strengths of two industry leaders, combining superior asset management with innovative retirement income protection,” says Will Fuller, executive vice president, president of Annuities, Lincoln Financial Distributors and Lincoln Financial Network. “Today, we are announcing American Funds target date investing with Lincoln’s protected lifetime income solution to help investors fund the life they desire in retirement when facing increasingly longer lifespans.”

Research shows that nearly two-thirds of Americans have no guaranteed source of retirement income other than Social Security1, and that three out of every four Americans like the idea of purchasing an annuity with benefits that guarantees lifetime income for themselves and their families2.

Additionally, target date mutual fund assets currently exceed $2 trillion3 as investors have become more familiar with their benefits and employers make them increasingly available within retirement plans. However, target date funds alone are still exposed to market risk. By including Capital Group’s American Funds Target Date series strategy within Lincoln Financial Group’s new variable annuity solution, customers can realize the benefits of glidepath investing, while also receiving protected lifetime income at a high income rate.

“Our partnership with Lincoln Financial Group allows us to combine the experience of our portfolio managers and strong results with reliable protected income in retirement, and was a natural next step in our 30-year long relationship,” says Matt O’Connor, chairman and chief executive officer of American Funds Distributors. “This product innovation will help investors across America prepare for and lead the life they want in their later years.”

In 1987, Capital Group and Lincoln Financial forged a relationship to create the American Legacy variable annuity, the only annuity in the industry offering access to all of the American Funds Insurance Series (AFIS) funds. Today, there is an increasing demand for simplified and tailored investing and American Funds is an experienced provider of these types of solutions with their fast-growing American Funds target date series.

American Legacy® Target Date Income features a simple product design, offered in both fee- and commission-based options. The target date fund invests in a mix of stocks and bonds that automatically adjust over time, becoming more conservative and tailored to the needs of the investor, not just to retirement, but through retirement. Product features include:

  • Lincoln Financial Group’s highest amount of level protected lifetime income, 5.7% for life at age 65.
  • Guaranteed growth for future income at a minimum of 6% each year. Higher target date fund results may allow the annuity owner to lock in an even higher amount of growth.
  • Joint life options for when both spouses are looking for protection, and beneficiary protection even if the account goes to zero.

For more information about American Legacy Target Date Income, please visit: www.lfg.com/targetdateincome.com

View More Press Releases by Lincoln Financial Group


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