PHILADELPHIA- June 6, 2006 - Flexibility and choice are the result of long-term disability contract enhancements recently completed by Lincoln Financial Group (formerly Jefferson Pilot Financial), one of the nation´s leading providers of life insurance, employee benefits, investment, and retirement income products and services.
Based on employers´ need to control the cost of employee benefits while still providing quality plans to help recruit and retain top talent, Lincoln Financial Group recently introduced the new Advantage Plan to provide more options for its group long-term disability clients. Packaging the new Advantage Plan with Lincoln Financial´s traditional Premier and Value Plans provides expanded options to employers, who are now able to create the long-term disability benefit best suited to their particular needs and the needs of their employees.
Lincoln Financial Group´s Premier Plan offers a full-featured contract with the most comprehensive coverage, including such features as no limitation on specified illnesses, voluntary vocational rehabilitation, and Progressive Partial Disability with a liberal earnings test. For cost-conscious employers, the Value Plan provides a more conservative structure with specified illness and injury limitations, an "any gainful occupation" definition of disability beyond 24 months, less liberal partial disability benefits, and other cost-control elements.
With the newly introduced Advantage Plan, employers now have the choice of a full-featured contract, similar to the Premier Plan, with the flexibility of adding options to help control cost. For example, to help reduce premium rates, an employer could choose to add a mandatory vocational rehabilitation program or include a 24-month specified illness/injury limitation. Both options could also be added for an even more cost-effective plan.
"Our research revealed the need for more variety at the employer level," explains Julie Fried, vice president of marketing. "Employers want to control cost, but not at the expense of a disability plan that´s too conservative for their employees to truly benefit from. That´s the precise niche the Advantage Plan fills - comprehensive coverage with cost control features that aren´t overly restrictive."
With an aging population and continual medical breakthroughs, income protection products such as disability insurance have grown in importance. Lincoln Financial Group´s Advantage Plan is one example of how those in the financial services sector are responding to this growing need.
For more information on Lincoln Financial Group employee benefit products, visit www.lfg.com, www.jpfinancial.com or call (800) 423-2765.
Group insurance products for Lincoln Financial Group are issued and underwritten by Jefferson Pilot Financial Insurance Company, a Lincoln Financial Group affiliate. Lincoln´s employee benefits division is based in Philadelphia. Lincoln Financial´s group insurance division markets ancillary (non-medical) group and voluntary insurance products including life and AD&D, long-term and short-term disability, dental and employee assistance programs through a national distribution system consisting of 42 sales offices with two home offices in Omaha, NE and Atlanta, GA. Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates.
About Lincoln Financial Group
With headquarters in Philadelphia, Lincoln Financial Group had consolidated assets of $128 billion as of March 31, 2006, and had annual consolidated revenues of $5.5 billion in 2005. The company 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. Company affiliates include: Lincoln Financial Distributors, which provides wholesaling and marketing support; Lincoln Financial Advisors, a national network of financial planners, agents, and registered representatives; 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 www.LFG.com.
Media Contact:
Bob Culver
Lincoln Financial Group
402-361-2997
Email: bob.culver[at]jpfinancial.com
Investor Relations Contact:
Jim Sjoreen
Lincoln Financial Group
215-448-1420
Email: jsjoreen[at]lfg.com