Lincoln Financial Group Introduces American Legacy® LVIP American Allocation Funds

PHILADELPHIA, Dec. 15, 2010 /PRNewswire/ -- Lincoln Financial Group (NYSE: LNC) today announced the introduction of Lincoln Variable Insurance Product (LVIP) American Allocation Funds, a fund-of-funds investment option available through their American Legacy^® suite of variable annuity products. Designed with diversification in mind, LVIP American Allocation Funds offer investors three important benefits to help protect them against market volatility, including:

• a broad reach of investment options;
• market responsiveness through on-going oversight; and
• the flexibility to meet changing investment needs through fund rebalancing and repositioning.

Highly regarded for their seasoned leadership and investment management experience, American Funds and Lincoln Financial Group forged a partnership nearly 25 years ago to create American Legacy^®, the only single-manager variable annuity available in the marketplace. Today, the companies pride themselves in offering people competitive products they can count on while investing for their long-term retirement goals.

"Lincoln Financial's investment management expertise coupled with American Fund's consistent investment philosophy provides a strong foundation for these new LVIP American Allocation Funds," said Dan Hayes, Head of Funds Management, Retirement Solutions, Lincoln Financial Group. "The introduction of LVIP American Allocation Funds represents Lincoln Financial and American Funds' continued commitment to enhancing the American Legacy^® offering to help investors achieve confidence in their long-term investments through flexibility and diversification."

Managed by Lincoln Investment Advisors Corporation, a wholly owned subsidiary of Lincoln National Corporation, and in consultation with Wilshire Associates, the LVIP American Allocation Funds invest in American Funds Insurance Series^® (AFIS) and other select American Funds retail mutual funds, providing investors with a choice of three variable product investment models designed for contract holders with selected investment goals and risk tolerance levels. Each model – Growth, Balanced and Income – offers a unique asset allocation and underlying American Funds fund selection consistent with its investment strategy, enabling investors to diversify with confidence and convenience.

The fund-of-funds investment approach offers unique advantages including a simplified process to help investors achieve a diversified portfolio; exposure to a wide variety of asset classes, regions and investments styles; and ongoing monitoring and rebalancing to ensure that each Fund is positioned to take advantage of current market conditions. The asset allocation of each fund will be rebalanced on a quarterly basis and adjusted annually or as needed in response to market changes.

Disclosure

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 and are based on the financial strength of the insurer. 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 a 10% federal tax penalty. Withdrawals will reduce the death benefit and cash surrender value.

Asset allocation does not assure a profit or guarantee against a loss.

Variable products are sold by prospectus. Consider the investment objectives, risks, charges, and expenses of the variable product and its underlying investment options carefully before investing. The prospectus contains this and other information about the variable product and its underlying investment options. A prospectus is available by calling 888 868-2583. Read it carefully before investing.

American Legacy variable annuities (contract forms 30070-A, 30070-B and state variations) 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 (contract forms NY28618-A, 30294-NY, 30070ANYFA1, 30070BNYFA3 and 30070BNYFA1) are issued by Lincoln Life & Annuity Company of New York, Syracuse, NY, and distributed by Lincoln Financial Distributors, Inc., a broker/dealer.

Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $150 billion as of September 30, 2010. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; and comprehensive financial planning and advisory services. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.

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SOURCE Lincoln Financial Group