Quick Answer: Is Lincoln Financial a Good Annuity Company?
Lincoln Financial is a well-established, A-rated carrier best known for its fixed indexed annuities and variable annuities with guaranteed income riders – a strong choice for buyers who want FIA income planning from a nationally recognized brand with a large independent distribution network.
Last updated: March 2026 | Reviewed by: Elizabeth Prescott, AnnuityJournal Editorial Team
Company Overview
Lincoln Financial Group (formally Lincoln National Corporation) is a Fortune 500 financial services company headquartered in Radnor, Pennsylvania. Founded in 1905 and named after President Abraham Lincoln with the Lincoln family’s permission, it is one of the most recognized brands in U.S. insurance and retirement planning.
Lincoln operates through multiple subsidiaries including Lincoln Life & Annuity Company of New York and The Lincoln National Life Insurance Company. It distributes products through one of the largest independent broker-dealer and financial advisor networks in the country.
| Metric | Detail |
|---|---|
| Headquarters | Radnor, Pennsylvania |
| Founded | 1905 |
| NYSE Ticker | LNC |
| Total Assets | $290+ billion |
| AM Best Rating | A (Excellent) |
| S&P Rating | A+ (Strong) |
| Distribution | Independent advisors, broker-dealers, wirehouse networks |
Financial Strength Ratings
| Rating Agency | Rating | Meaning |
|---|---|---|
| AM Best | A (Excellent) | Third-highest possible |
| S&P Global | A+ (Strong) | Fifth-highest possible |
| Moody’s | A2 (Good) | Sixth-highest possible |
| Fitch | A (Strong) | Sixth-highest possible |
Lincoln’s ratings are solid and above the minimum threshold most planners recommend (A- or better). They are one step below the A+ carriers like Athene, North American, or Protective Life – a meaningful but not disqualifying distinction for most buyers. Lincoln’s scale ($290B+ in assets) provides substantial financial depth regardless of the single-notch rating difference.
Lincoln Financial Annuity Products
Fixed Indexed Annuities (FIAs)
Lincoln’s FIA lineup is its flagship annuity offering. The Lincoln OptiBlend and Lincoln Level Advantage series are among the most widely distributed FIA products in the independent advisor channel. These products offer multiple index strategies including S&P 500, multi-index allocations, and uncapped strategies with participation rates.
Lincoln’s income rider – the Lincoln LifeGuarantee GLWB – is a primary reason advisors recommend Lincoln FIAs. The rider provides guaranteed lifetime withdrawal benefits with rollup rates that compound the benefit base, making Lincoln a strong choice for buyers whose primary goal is guaranteed future income rather than pure accumulation.
Variable Annuities
Lincoln has historically been a major variable annuity provider. Their Lincoln ChoicePlus series offers investment subaccounts with optional guaranteed benefit riders. Variable annuities carry market risk and typically higher fees (1.5%-3%+ annually) than fixed products – they are appropriate primarily for buyers who want market participation with a guaranteed income floor and have a longer time horizon.
MYGAs
Lincoln offers MYGAs but is not typically a rate leader in this category. Buyers specifically shopping for the highest MYGA rate should compare Lincoln against dedicated MYGA carriers like North American, Protective Life, and Athene before deciding. See current rates on our Best MYGA Rates page.
Pros and Cons
| Pros | Cons |
|---|---|
| Nationally recognized brand with 120-year history | AM Best rating is A, not A+ – one notch below top tier |
| $290B+ in assets – substantial financial scale | MYGA rates not consistently competitive vs. specialists |
| Strong FIA income rider (LifeGuarantee GLWB) | Higher complexity products require advisor explanation |
| Wide advisor network – easy to find an agent | Variable annuity fees can be 2%+ annually |
| Multiple crediting strategies on FIA lineup | Publicly traded – subject to quarterly earnings pressure |
Who Is Lincoln Financial Best For?
- Buyers working with an advisor who already has Lincoln on their platform – Lincoln’s broad distribution makes this common
- FIA buyers whose primary goal is guaranteed lifetime income through a GLWB rider rather than pure accumulation
- Buyers who value brand recognition and prefer a household name with a long track record
- Variable annuity buyers who want guaranteed income protection alongside market participation
How to Buy a Lincoln Financial Annuity
Lincoln products are sold through licensed financial advisors, insurance agents, and broker-dealers. Lincoln has one of the broadest distributions networks in the industry – most independent advisors and many bank-based advisors have access to Lincoln products. To purchase:
- Contact a licensed financial advisor or independent annuity agent
- Request a product illustration for the specific Lincoln product and rider combination
- Compare the guaranteed income amounts against competing FIA + rider combinations from Allianz and Nationwide
- Review surrender period, cap rates, and rider costs carefully before signing
Customer service: 800-487-1485 | lfg.com
Frequently Asked Questions
What is Lincoln Financial’s AM Best rating?
Lincoln National Life Insurance Company holds an A (Excellent) rating from AM Best – the third-highest possible rating. This is one notch below A+ carriers but still well within the range most financial planners consider financially strong.
Is Lincoln Financial a good annuity company for income riders?
Yes. Lincoln’s LifeGuarantee GLWB income rider is one of the more widely used guaranteed lifetime withdrawal benefit riders in the FIA market. Advisors frequently recommend Lincoln FIAs specifically for buyers whose primary goal is locking in guaranteed future income.
Does Lincoln Financial have MYGAs?
Yes, but Lincoln is not typically a top-rate MYGA carrier. Buyers prioritizing the highest guaranteed rate should compare Lincoln’s MYGA offering against dedicated MYGA specialists before making a decision.
What is Lincoln Level Advantage?
Lincoln Level Advantage is a registered index-linked annuity (RILA) – a hybrid product that offers higher upside potential than a traditional FIA but also accepts some downside risk (typically a buffer of 10-20% before losses begin). It is designed for buyers who want more market participation than a traditional FIA but with a partial downside buffer.
Sources & Citations
- AM Best, AM Best Financial Strength Ratings – A (Excellent) rating for Lincoln National Life Insurance Company
- Lincoln Financial Group, About Lincoln Financial Group – company history, assets, and corporate overview
- NAIC, NAIC Consumer Information – complaint ratio and market conduct data for Lincoln National Life
