NU Online News Service, March 25, 2003, 12:23 p.m. EST – Lincoln National Corp., Philadelphia, is selling a new feature that is supposed to help protect variable-annuity purchasers against market volatility.
The new feature, the Lincoln Principal Security benefit, will protect the principal that the customer has deposited in the annuity contract, Lincoln says.
An investor who pays for the feature can withdraw up to 7% of the guaranteed amount each year. Lincoln will waive the fees for the principal security feature after year five if withdrawal activity has been minimal, the company says.