Recently, Lincoln Financial Group’s i4LIFE Advantage program had its tenth anniversary. The income distribution method provided by the financial product is patented by Lincoln. It can be purchased with American Legacy and Lincoln ChoicePlus Assurance annuities. The program allows clients the ability to control, flexibility, and access in a way not offered by other similar products.
Since the product was introduced, 50,000 products had been sold, amounting to $10 billion. The Head of Retirement Solutions for the company, Rob Grubka, said that Lincoln Financial is heavily focused on giving their clients more control over their retirement options. He went on to say that the success of the program demonstrates the truth of this commitment, and that the current economic environment has made the program even more relevant.
The program developed by the company is designed to deal with specific concerns that people have about their retirement funds such as whether the volatility of the market will cause them to lose their investments, whether they will keep the purchasing power of their funds or they will be lost to inflation, and whether or not they will have enough money to support themselves until the day that they die. They also want to offer their customers security for the increasing costs of medical care, and to avoid losing purchasing power to taxation.
The head of the Retirement Solutions Distribution at the company, John Kennedy, said that the success of the financial product can be attributed to Lincoln, its advisers, and its broker dealer partners. He went on to say that too many people focus on accumulating assets in the present, without taking into consideration whether they will have access to funds for the rest of their life. He said that the goal of the i4LIFE plan is to prepare people for a comfortable lifestyle in their later years. Since the age of the average America is rising, plans such as this will continue to become more important in the future.