Lincoln Financial Group's i4LIFE(R) Advantage Reaches Milestone as Elections Cross $1.0 Billion in 2006 Sales

PHILADELPHIA, Nov. 6 /PRNewswire-FirstCall/ -- Lincoln Financial Group recently announced that year-to-date elections of i4LIFE(R) Advantage, a patented retirement income solution, crossed $1.0 billion in the middle of the third quarter. In less than three full quarters, this surpassed the record setting $1.0 billion in elections for the full year in 2005. This milestone marks the 12th straight quarter-over-quarter growth in i4LIFE(R) Advantage elections, underscoring Lincoln's leadership position in the retirement income space.

The i4LIFE(R) Advantage elections of $413.9 million in the 3rd quarter of 2006 are up 54% over the same period last year, and 3rd quarter year-to-date elections of $1.12 billion are up 70% over the first nine months of last year. Of the $413.9 million elected in the third quarter, $349 million (84%) was from sales of new variable annuity contracts whose owners immediately elected i4LIFE(R) Advantage. The average size of a variable annuity contract with the i4LIFE(R) Advantage election continues to be just above $190,000, nearly double the average size of contracts not electing this retirement income feature.

"Attaining these landmark i4LIFE(R) Advantage election figures speaks volumes about Lincoln's focus on helping retirees obtain retirement income security," said Terry Mullen, senior vice president and head of sales for Lincoln Financial Distributors. "Over the past year, i4LIFE(R) Advantage elections have increased 70 percent, indicating annuity investors understand the importance of a guaranteed lifetime income stream."

Lincoln filed its first patent for income guarantees in 1999 (two patents have issued and two are still pending). The variable annuity feature provides retirees an income management tool that offers a lifetime income guarantee, tax efficiency and control of retirement assets. This benefit helps retirees successfully transition from the accumulation to the distribution phase. i4LIFE(R) Advantage is available only through variable annuity products offered by Lincoln Financial Group affiliates.

In May 2006, Lincoln launched 4LATERSM Advantage, an optional benefit that, together with the patented i4LIFE(R) Advantage feature, offers a unique retirement income planning strategy for younger Baby Boomers who are not yet ready to retire. 4LATERSM Advantage serves as an advanced planning tool, allowing Baby Boomers to help forecast the investment needed for a specific guaranteed minimum income stream, starting when income is needed. This future guarantee, along with the income payment growth potential inherent in i4LIFE(R) Advantage, provides a powerful means to plan for retirement.

"As a leader in the industry, we are continuously enhancing our current portfolio of products and developing new retirement income solutions to meet the ever-changing needs of Baby Boomers," said Dan Herr, assistant vice president and income annuity product manager for Lincoln. "According to the 2006 Lincoln Long LifeSM Survey, 84 percent of affluent Baby Boomers feel they will have enough financial resources to retire on their own terms; Lincoln's suite of annuity products with optional features such as i4LIFE(R) Advantage are perfectly positioned to help ensure Baby Boomers fulfill that expectation."

About Variable Annuities

Variable annuities are long-term retirement planning vehicles that can offer tax deferral, a lifetime income and death benefits to help meet financial needs and goals. Tax deferral allows any investment gains to grow with no taxes due until withdrawal. The values will fluctuate in accordance with the performance of the investments and when withdrawn, may be worth more or less than the original cost. Withdrawals may be subject to surrender charges and to ordinary income tax along with withdrawals prior to age 59-1/2, a 10% IRS penalty may also apply.

An investor should carefully consider the investment objectives, risks, charges and expenses of the variable annuity and its underlying investment options before investing. The product prospectus and underlying fund prospectus contain this and other important information and should be read carefully. Investors should request a prospectus from their registered representative.

Certain benefits or features, such as i4LIFE(R) Advantage and 4LATERSM Advantage, may be added to a variable annuity. Such benefits or features may have additional charges and expenses associated with them, which may or may not be advantageous in meeting long-term goals. These additional charges and expenses should be considered carefully before purchasing. The additional cost for i4LIFE(R) Advantage will be a minimum of .35% and can vary according to the product and other features selected. The additional cost of 4LATERSM Advantage will be .50% above standard contract charges. (The cost of this feature is based on the income base).

Variable annuities are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN. Variable products are distributed by Lincoln Financial Distributors, Inc. and offered through broker/dealers with an effective selling agreement. Products and features are subject to state availability.

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 $220 billion as of September 30, 2006. 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, 18 radio stations, and the Lincoln Financial Sports production and syndication business; and Lincoln UK. For more information please visit http://www.lfg.com/.