78% of pre-retirees worry that they won’t be able to retire on time, Lincoln finds

Beginning Nov. 21, Lincoln ProtectedPay^SM lifetime income suite, available for an additional cost with Lincoln annuities, features six protected lifetime income options which offer predictable growth and investment flexibility.

Available exclusively with Lincoln Financial's variable annuities through broker-dealer and registered investment advisor channels, Lincoln ProtectedPay is a simplified approach to help provide protected income in retirement that can never be outlived – no matter how the market performs.

Variable annuities are long-term investment products that offer a lifetime income stream, access to leading investment managers, options for guaranteed growth and income (available for an additional charge) and death benefit protection.

Recent research also shows that only 31% of respondents (and 21% of Baby Boomers) feel very confident that their savings will last through retirement.³ Through Lincoln ProtectedPay, retirees receive reliable, protected payments throughout their lives.

“In the face of 2022’s bear market, investors may feel uneasy about how portfolio losses are impacting their retirement dreams,” said Tim Seifert, senior vice president and head of the Retirement Solutions Distribution business, Lincoln Financial Distributors. “Yet, through protection products like the new Lincoln ProtectedPay suite, investors can help protect the retirement they envision.”

The Lincoln ProtectedPay lifetime income suite offers customizable options to investors that best suit their needs. Product features include:

• Guaranteed growth of 6% for future income. If account performance is higher, the higher amount is locked in.⁴
• Investment choice and flexibility by building a portfolio that fits individual goals and preferences.
• Protected payments in retirement.

“Lincoln Financial is committed to manufacturing and distributing annuities and other financial protection products to help Americans retire with confidence,” Stephen Turer, senior vice president and head of Lincoln Financial’s Annuity Solutions business said. “Our latest innovation, Lincoln ProtectedPay, is a continuation of that proud legacy, and we are pleased to offer pre-retirees the protection and growth that will help them thrive in any market.”

This is just the latest addition to Lincoln Financial’s broad and innovative portfolio of annuity solutions, which features more product choice than any other annuity carrier⁵.

Lincoln Protected Pay lifetime income suite is not available in all states including New York. GUARANTEES ARE BASED UPON THE CLAIMS PAYING ABILITY OF THE INSURANCE COMPANY.

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help people take charge of their financial lives with confidence and optimism. Today, approximately 16 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, and guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $270 billion in end-of-period account values as of September 30, 2022. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good and ranks among Newsweek’s Most Responsible Companies. Dedicated to diversity, equity and inclusion, we are included on transparency benchmarking tools such as the Corporate Equality Index, the Disability Equality Index and the Bloomberg Gender-Equality Index. Committed to providing our employees with flexible work arrangements, we were named to FlexJobs’ list of the Top 100 Companies to Watch for Remote Jobs in 2022. With a long and rich legacy of acting ethically, telling the truth and speaking up for what is right, Lincoln was recognized as one of Ethisphere’s 2022 World’s Most Ethical Companies^®. We create opportunities for early career talent through our intern development program, which ranks among WayUp and Yello’s annual list of Top 100 Internship Programs. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.

Important Information:

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 have fees and charges, including mortality and expense, administrative, and advisory fees. 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 prospectuses for the variable annuity and its underlying investment options contain this and other important information. Please call 888-868-2583 for free prospectuses. Read them 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.

Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations

© 2022 Lincoln National Corporation. All rights reserved.

LCN-5077795-110222

¹ Source: Lincoln Financial, Monthly Consumer Sentiment Omnibus, June 2022

² Source: Lincoln Financial, Monthly Consumer Sentiment Omnibus, June 2022

³ New York Life, “Wealth Watch: A survey exploring Americans’ financial goals, progress and feelings about their ability to secure their financial futures,” 2022.

⁴ The [6%] simple annual growth will continue for the earlier of 10 years or through age 85 (based on the oldest life for joint). The [6%] enhancement is not available in any year a withdrawal is taken. In New York, the [6%] enhancement is not available once the first Protected Annual Income withdrawal occurs, but account value can be locked in through age 85.

⁵ Based on total amount of deferred annuities and riders actively marketed per each Top 10 carrier through March 31, 2022, according to Wink, Inc.