Lincoln Employer Markets Launches i4LIFE(R) Advantage on Defined Contribution Plans

PHILADELPHIA, May 11 /PRNewswire-FirstCall/ -- Lincoln Employer Markets today announced that the Lincoln National Life Insurance Company now offers the i4LIFE(R) Advantage rider as an additional distribution option for employer-sponsored defined contribution plans. The i4LIFE(R) Advantage allows participants the ability to convert their retirement plan savings into lifetime income with an opportunity for growth. The i4LIFE(R) Advantage also offers the protection of a minimum payment guarantee while maintaining access to and control of assets. Lincoln Employer Markets, a division of Lincoln Financial Group, is focused on addressing the retirement income security needs of employers and their employees through retirement plans, group insurance and executive benefits. The i4LIFE(R) Advantage is one more example of Lincoln's leadership role in redefining the retirement industry.

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Building on the success of Lincoln's patented individual variable annuity option, the i4LIFE(R) Advantage offers participants, through their employer- sponsored retirement plan, an income management tool that generates payments for life. The option is now available on Lincoln Multi-Fund 1(R), Multi-Fund Select(R), Director(SM) and Lincoln American Legacy Retirement(SM) defined contribution products*.

"The i4LIFE(R) Advantage provides participants with a state-of-the-art platform for retirement income management that meets the specific concerns they have about managing their assets once they begin to draw retirement income," said Jeff Coutts, head of product for defined contribution and executive benefits, Lincoln Employer Markets. "It also, and most importantly, helps to provide retirees a lifetime income."

What is the i4LIFE Advantage?

The i4LIFE(R) Advantage addresses four primary retirement income concerns and issues:

-- Lifetime Income Guarantee - Helps to assure clients they will not outlive their retirement income. -- Access & Control - Offers participants the ability to take withdrawals in addition to their regular income payments. This allows them access to their funds for unexpected cash needs. Naturally, withdrawals will reduce the subsequent income and guaranteed minimum income. -- Growth Potential - Provides the opportunity for participants' retirement income benefit to grow with gains in the equity market. This is an important feature to help combat the effects of inflation on one's retirement income. -- Protection - Offers a guaranteed income benefit. This benefit protects the participants from market downturns by guaranteeing that the income payment will not fall below 75 percent of the initial payment. How does the i4LIFE(R) Advantage work?

When the participant is ready to elect an income stream and has had a distributable event, the participant elects the i4LIFE(R) Advantage as the distribution option. The account balance can remain invested in equity-based investment options, with the potential for increasing monthly payments as a hedge against inflation. The i4LIFE(R) Advantage further provides a guaranteed income benefit. With the guaranteed income benefit, payments can decrease, but only to a specified minimum.

The amount of each monthly payment will vary with the returns of the underlying investment options in the account, meaning that checks can grow significantly over time; however, they can also decrease to the minimum payment guarantee. The investment decisions are made by the participant. This payment stream lasts as long as the participant lives. The cost for the i4LIFE(R) rider is an additional annual asset charge of only 0.48 percent - less than one half of one percent. This fee is in addition to contract expenses that include investment and account fees.

The rider also offers joint lifetime payments. While electing joint lifetime payments will reduce the amount of the payments, a participant will have the added benefit of knowing his or her spouse is guaranteed to receive income for life. With the i4LIFE(R) Advantage, participants can also make additional withdrawals from their account value, or if something should happen to a participant, the account value can be passed on to beneficiaries. These benefits are available until age 85 (or for 15 years if the participant elects this option after age 70).

"Quality of life is the number one concern people face as they look toward retirement," said Westley Thompson, president of Lincoln Employer Markets. "With everything that the i4LIFE(R) feature offers, retirees can focus on how they are going to enjoy the years ahead."

* Subject to availability.

Multi-Fund(R) variable annuities are sold by prospectus. An investor should carefully consider the investment objectives, risks, and charges and expenses of the variable annuity and its underlying investment options before investing. The prospectus contains this and other important information about the variable product and its underlying investment options and should be read carefully before investing or sending money. Investment values will fluctuate with changes in market conditions, so that upon withdrawal, your investment may be worth more or less than the amount originally invested. Guarantees based on the claims-paying ability of the issuing company.

Multi-Fund(R) variable annuity

Multi-Fund variable annuity (contracts 18829, 18831, 25582, 28645, 28883, 30070-B, and state variations) is issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, has limitations and expense charges, and is distributed by broker/dealers with effective selling agreements. Contractual obligations are backed by the claims-paying ability of The Lincoln National Life Insurance Company. Some investment options may not be available in all states. A prospectus is available by calling 800 4LINCOLN (800 454-6265). Not for use in New York.

Lincoln Director SM group variable annuity

Lincoln Director group variable annuity is a contract issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, on policy form #19476 (and state variations thereof) and distributed by broker/dealers with selling agreements. Contractual obligations are backed by the claims-paying ability of The Lincoln National Life Insurance Company. More information about Lincoln Director is available at 877 533-9710 or http://www.lincolndirector.com/.

Lincoln American Legacy Retirement SM group variable annuity

Lincoln American Legacy Retirement group variable annuity is a contract issued on policy form #19467 (and state variations thereof) by the Lincoln National Life Insurance Company, Fort Wayne, IN, and is distributed by broker/dealers with selling agreements. Contractual obligations are backed by the claims-paying ability of The Lincoln National Life Insurance Company. More information is available at 877 533-9710 or http://www.lincolnalretirement.com/. The Lincoln National Life Insurance Company is not licensed and does not solicit business in the state of New York.

About Lincoln Financial Group

Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. With headquarters in Philadelphia, the companies of Lincoln Financial Group had assets under management of $237 billion as of March 31, 2007. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services. Affiliates also include: Delaware Investments, the marketing name for Delaware Management Holdings, Inc. and its subsidiaries; Lincoln Financial Media, which owns and operates three television stations, 17 radio stations, and the Lincoln Financial Sports production and syndication business; and Lincoln UK. For more information please visit http://www.lfg.com/.