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XX-0123456
[LOGO LINCOLN NATIONAL LIFE INSURANCE CO.]
-----------------------------------
A part of LINCOLN NATIONAL CORPORATION
(A Stock Company)
ANNUITY CONTRACT
Flexible Premium Deferred
Variable Annuity and/or Market Value Adjusted Annuity
With Benefit Payment Options
Nonparticipating
The Lincoln National Life Insurance Company (LNL) agrees to provide the benefits
and other rights described in this Contract in accordance with the terms of this
Contract.
READ THIS CONTRACT CAREFULLY. This is a legal contract between the Owner and
LNL. We want to be sure you understand the features and benefits contained in
this Contract. IT IS THEREFORE IMPORTANT THAT YOU READ YOUR CONTRACT CAREFULLY.
If you have any questions after reading the Contract, we hope you will contact
your representative or the Home Office of LNL.
NOTICE OF 10-DAY RIGHT TO EXAMINE CONTRACT. Within 10 days after this Contract
is first received, it may be cancelled for any reason without penalty (e.g., no
Market Value Adjustment will apply) by delivering or mailing it to the
representative through whom it was purchased or to the Home Office of LNL. Upon
cancellation, LNL will return the value of the Variable Account as of the
Valuation Date on which LNL receives the cancellation request plus any Purchase
Payments made to the Fixed Account of the Contract.
UPON A TRANSFER, WITHDRAWAL, OR SURRENDER, PAYMENTS AND VALUES ALLOCATED TO THE
FIXED ACCOUNT MAY BE SUBJECT TO A MARKET VALUE ADJUSTMENT WHICH MAY RESULT IN
UPWARD OR DOWNWARD ADJUSTMENTS IN AMOUNTS TRANSFERRED, WITHDRAWN, OR SURRENDERED
BY THE OWNER.
ALL PAYMENTS AND VALUES PROVIDED BY THIS CONTRACT, WHEN BASED ON INVESTMENT
EXPERIENCE OF THE VARIABLE ACCOUNT, ARE NOT GUARANTEED AS TO FIXED DOLLAR AMOUNT
(SEE PAGES 7 AND 17).
Signed for The Lincoln National Life Insurance Company at its Home Office in
Fort ▇▇▇▇▇, Indiana.
/s/ ▇▇▇ ▇. ▇▇▇▇▇▇ /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
▇▇▇ ▇. ▇▇▇▇▇▇, President ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, Vice President
Table of Contents
Article Page
1 Definitions............................................. 4
2 Purchase Payments....................................... 6
3 Variable Account........................................ 6
4 Fixed Account........................................... 8
6 Options................................................. 10
6 Death Benefits.......................................... 13
7 Annuity Payment Option.................................. 15
8 Beneficiary............................................. 18
9 General Provisions...................................... 19
10 Annuity Purchase Rates Under a Variable Payment Option.. 22
11 Annuity Purchase Rates Under a Fixed Payment Option..... 26
CONTRACT DATA
Contract Number XX-0123456
Annuitant ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Age at Issue 35
Contract Date April 1, 2000
Purchase Payment $25,000.00
Purchase Payment Frequency Flexible
Maturity Date April 1, 2055
OWNER
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
▇▇▇▇ ▇▇▇▇▇▇▇
BENEFICIARY DESIGNATION
Please refer to the Client Information Profile for beneficiary designation.
FIXED ACCOUNT - SUB-ACCOUNTS
[ 1-YEAR INITIAL GUARANTEED PERIOD ]
[ 3-YEAR INITIAL GUARANTEED PERIOD ]
[ 5-YEAR INITIAL GUARANTEED PERIOD ]
[ 7-YEAR INITIAL GUARANTEED PERIOD ]
[ 10-YEAR INITIAL GUARANTEED PERIOD ]
VARIABLE ACCOUNT
The Variable Account for this variable annuity Contract is the Lincoln Life
Variable Account N. There are currently [thirty-six) Subaccounts in the Variable
Account available to the Owner. The Owner may direct Purchase Payments under the
Contract to any of the available Sub-accounts, subject to limitations. The
amounts allocated to each Sub-account will be invested at net asset value in the
shares of one of the Funds. The Subaccounts are:
[AFIS GLOBAL SMALL CAPITALIZATION FUND]
[AFIS GROWTH FUND]
[AFIS GROWTH-INCOME FUND]
[AFIS INTERNATIONAL FUND]
[AIM V.I. CAPITAL APPRECIATION FUND]
[AIM V.I. GROWTH FUND]
[AIM V.I. INTERNATIONAL EQUITY FUND]
[AIM V.I. VALUE FUND]
[ALLIANCE GROWTH AND INCOME PORTFOLIO]
[ALLIANCE GROWTH PORTFOLIO]
[ALLIANCE PREMIER GROWTH PORTFOLIO]
[ALLIANCE TECHNOLOGY PORTFOLIO]
[DEUTSCHE ASSET MANAGEMENT VIT FUNDS: EQUITY 500 INDEX]
[DELAWARE GROUP EMERGING MARKETS SERIES]
[DELAWARE GROUP GROWTH & INCOME SERIES]
[DELAWARE GROUP HIGH YIELD SERIES]
[DELAWARE GROUP REIT SERIES]
[DELAWARE GROUP SMALL CAP VALUE SERIES]
[DELAWARE GROUP SOCIAL AWARENESS SERIES]
[DELAWARE GROUP TREND SERIES]
[DELAWARE PREMIUM SELECT GROWTH SERIES]
[FIDELITY VIP EQUITY-INCOME PORTFOLIO]
[FIDELITY VIP GROWTH PORTFOLIO]
[FIDELITY VIP OVERSEAS PORTFOLIO]
[FIDELITY VIP III GROWTH OPPORTUNITIES PORTFOLIO]
[FRANKLIN MUTUAL SHARES SECURITIES FUND]
[FRANKLIN SMALL CAP SECURITIES FUND]
[LIBERTY VARIABLE TRUST NEWPORT TIGER FUND]
[LINCOLN NATIONAL BOND FUND]
[LINCOLN NATIONAL MONEY MARKET FUND]
[MFS VARIABLE TRUST EMERGING GROWTH SERIES]
[MFS VARIABLE TRUST RESEARCH SERIES]
[MFS VARIABLE TRUST TOTAL RETURN SERIES]
[MFS VARIABLE TRUST UTILITIES SERIES]
[▇▇▇▇▇▇▇▇▇ GLOBAL GROWTH FUND]
[▇▇▇▇▇▇▇▇▇ INTERNATIONAL FUND]
See Section 3.01 for provisions governing any limitations, substitution or
elimination of Funds.
ARTICLE 1
DEFINITIONS
1.01
ACCUMULATION UNIT -- A unit of measure used in the calculation of the value of a
Variable Sub-account prior to the Annuity Commencement Date.
1.02
ANNUITANT OR JOINT ANNUITANT -- The person or persons upon whose life or lives
the annuity benefit payments made after the Annuity Commencement Date will be
based.
1.03
ANNUITY COMMENCEMENT DATE -- The Valuation Date on which the Contract Value is
withdrawn for payment of annuity benefits under the Annuity Payment Option
selected.
1.04
ANNUITY PAYMENT DATE -- The date on which the Owner is entitled to the first
annuity benefit payment. Subsequent annuity benefit payments will be made on the
same day of the month as the first annuity benefit payment, at the applicable
frequency.
1.05
ANNUITY PAYMENT OPTION -- An optional form of payment of the annuity benefits
provided for under this Contract.
1.06
ANNUITY UNIT -- A unit of measure used after the Annuity Commencement Date to
calculate the amount of a variable annuity benefit payment.
1.07
BENEFICIARY -- The person or entity designated by the Owner to receive the Death
Benefit, if any.
1.08
CODE -- The Internal Revenue Code of 1986, as amended.
1.09
CONTINGENT ANNUITANT -- Prior to the Annuity Commencement Date, the individual
who will become the Annuitant upon the death of the Annuitant.
1.10
CONTRACT -- The agreement, between LNL and the Owner, in which LNL provides a
variable annuity and/or a market value adjusted annuity.
1.11
CONTRACT DATE -- The date this Contract became effective. The Contract Date is
shown on the Contract Data page(s).
1.12
CONTRACT VALUE -- Prior to the Annuity Commencement Date, the sum of the values
attributable to this Contract of the Variable Account and of the Fixed Account,
prior to any applicable Market Value Adjustment.
1.13
CONTRACT YEAR -- Each twelve-month period starting with the Contract Date on the
Contract Data page(s) and starting with each Contract anniversary thereafter.
1.14
DEATH BENEFIT -- The amount payable upon death of an Owner, or Joint Owner, or
an Annuitant.
1.15
DOLLAR COST AVERAGING (DCA) -- An option that allows the automatic transfer of a
portion of the Contract Value in periodic installments from a designated DCA
holding account to one or more of the Variable Subaccounts available under the
Contract. The periodic installments will be over any DCA period made available
by LNL and selected by the Owner. A designated DCA holding account may be in the
Fixed Account and/or the Variable Account.
1.16
EXPIRATION DATE -- The date on which a selected Guaranteed Period of the Fixed
Account will end.
1.17
FIXED ACCOUNT -- The fixed portion of this Contract which is invested in the
general account of LNL.
1.18
FIXED SUB-ACCOUNT -- That portion of the Fixed Account which accepts allocations
for a Guaranteed Period at a Guaranteed Interest Rate. There is a separate Fixed
Sub-account for each particular Guaranteed Period and DCA holding account.
1.19
FUND -- Any of the underlying investment options available in the Variable
Account.
1.20
GUARANTEED INTEREST RATE -- The effective annual rate of interest LNL guarantees
to credit on assets in each Fixed Sub-account.
1.21
GUARANTEED PERIOD -- The length, in years, of the period during which an initial
or subsequent Guaranteed Interest Rate will be credited. The Guaranteed Period
is selected by the Owner from those made available by LNL at the time of
selection.
1.22
HOME OFFICE -- The principal office of LNL located at ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇,
▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇, or an institution designated by LNL.
1.23
LNL -- The Lincoln National Life Insurance Company.
1.24
MATURITY DATE -- The date specified on the Contract Data page(s) of this
Contract.
1.25
NET ASSET VALUE PER SHARE -- The market value of a Fund share calculated each
day by taking the closing market value of all securities owned, adding the value
of all other assets (such as cash), subtracting all liabilities, and then
dividing the result (total net assets) by the number of shares outstanding.
1.26
OWNER OR JOINT OWNERS -- The one person, two persons or entity who exercise
rights of ownership under this Contract.
1.27
PURCHASE PAYMENTS -- Amounts paid into this Contract by the Owner.
1.28
QUALIFIED PLAN -- A retirement plan qualified for special tax treatment under
the Code, including Sections 401, 403, 408, 408A and 457. All other plans are
considered Non-Qualified.
1.29
VALUATION DATE -- Close of the market of each day that the New York Stock
Exchange is open for business.
1.30
VALUATION PERIOD -- The period commencing at the close of business on a
particular Valuation Date and ending at the close of business on the next
succeeding Valuation Date.
1.31
VARIABLE ACCOUNT -- The segregated investment account into which LNL sets aside
and invests the assets allocated to the Variable Sub-account(s) made available
by LNL and selected by the Owner. The Variable Account for this Variable Annuity
Contract is shown on the Contract Data page(s).
1.32
VARIABLE SUB-ACCOUNT -- That portion of the Variable Account which invests in
shares of a particular Fund. There is a separate Variable Sub-account for each
particular Fund.
ARTICLE 2
PURCHASE PAYMENTS
2.01 WHERE PAYABLE
All Purchase Payments must be made to LNL at its Home Office or to an agent
designated by LNL.
2.02 AMOUNT AND FREQUENCY
Purchase Payments are made in the amount and at the frequency shown on the
Contract Data Page(s). The Owner may change the frequency or amount of Purchase
Payments subject to LNL's rules in effect at the time of the change. LNL
reserves the right to limit future Purchase Payments into this Contract.
Purchase Payments may be made until the earliest of: the Annuity Commencement
Date, termination of the Contract upon payment of any Death Benefit, surrender
of the Contract, or the Maturity Date.
ARTICLE 3
VARIABLE ACCOUNT
3.01 THE VARIABLE ACCOUNT
The Variable Account is for the exclusive benefit of persons entitled to receive
benefits under variable annuity contracts. The Variable Account will not be
charged with the liabilities arising from any other part of LNL's business.
Subject to any required regulatory approvals, LNL reserves the right to
eliminate the shares of any Fund and substitute the securities of a different
Fund or investment company or mutual fund. Such elimination and substitution may
occur if the shares of a Fund are no longer available for investment, or, if in
the judgment of LNL, further investment in any Fund should become inappropriate
in view of the purposes of the Contract. LNL may add a new Variable Sub-account
in order to invest the assets of the Variable Account into a Fund. LNL will give
the Owner written notice of the elimination and substitution of any Fund within
fifteen days after such substitution occurs.
3.02 ALLOCATION OF PURCHASE PAYMENTS INTO THE VARIABLE ACCOUNT
Any Purchase Payment to this Contract may be allocated to the Variable Account.
Purchase Payments allocated to the Variable Account of the Contract will be
credited to the Variable Sub-account(s) made available by LNL and selected by
the Owner.
The Owner may allocate Purchase Payments to any of the available Variable Sub-
accounts subject to the following limitations.
a. The minimum amount of a Purchase Payment allocated to any one Variable
Sub-account is $20.
b. If the Owner elects to allocate any Purchase Payment to a new Variable
Sub-account not previously selected, that election must be made in
writing to LNL or through voice or electronic instructions, provided
LNL has received the appropriate authorization from the Owner for voice
or electronic instructions in accordance with LNL procedures.
Purchase Payments allocated to each Variable Sub-account will be invested at net
asset value in the shares of one of the Funds. LNL will use each Purchase
Payment to buy Accumulation Units in the Variable Subaccount(s) selected by the
Owner. The number of Accumulation Units bought will be determined by dividing
the amount allocated to a Variable Sub-account by the dollar value of an
Accumulation Unit in such Variable Sub-account as of the Valuation Date
immediately following receipt of the Purchase Payment at the Home Office. The
number of Accumulation Units held for an Owner in a Variable Sub-account will
not be changed by any change in the dollar value of Accumulation Units in the
Variable Sub-account.
3.03 VALUATION OF THE VARIABLE ACCOUNT ALLOCATIONS
The value of the portion of this Contract allocated to the Variable Account at
any time prior to the Annuity Commencement Date is equal to the sum of the
values allocated under this Contract to the Variable Subaccounts. The value of
the portion of this Contract allocated to a Variable Sub-account at any time
prior to the Annuity Commencement Date is equal to the Accumulation Units
credited under this Contract to a Variable Sub-account multiplied by the value
of the Accumulation Unit for the respective Variable Sub-account.
Accumulation Units for each Variable Sub-account are valued separately. The
value of a Variable Sub-account Accumulation Unit may increase or decrease from
Valuation Period to Valuation Period. Initially, the value of an Accumulation
Unit was arbitrarily established at the inception of the Variable Sub-account.
The Accumulation Unit value for a Variable Sub-account for any later Valuation
Period is determined as follows:
a. the total value of Fund shares held in the Variable Sub-account is
calculated by multiplying the number of Fund shares owned by the
Variable Sub-account at the beginning of the Valuation Period by the
Net Asset Value Per Share of the Fund at the end of the Valuation
Period, and adding any dividend or other distribution of the Fund if an
ex-dividend date occurs during the Valuation Period; minus
b. the liabilities of the Variable Sub-account at the end of the Valuation
Period (such liabilities include daily charges imposed on the Variable
Sub-account and may include a charge or credit with respect to any
taxes paid or reserved for by LNL that LNL determines as a result of
the operation from the Variable Account); the result divided by
c. the outstanding number of Accumulation Units in the Variable Sub-
account at the beginning of the Valuation Period.
The daily charge imposed on a Variable Sub-account for any Valuation Period
represents the daily mortality and expense risk charge and the daily
administrative charge adjusted for the number of calendar days in the Valuation
Period. On an annual basis, this daily charge will not exceed the level
determined by the Death Benefit option (see Section 6.01) in effect:
for any Valuation Period the Enhanced Guaranteed Minimum Death Benefit
(EGMDB) is in effect, on an annual basis the daily charge will not exceed
[1.65%] of the average daily net assets of the Variable Sub-account.
for any Valuation Period the [5%] Step-up Death Benefit is in effect, on
an annual basis the daily charge will not exceed [1.80%] of the average
daily net assets of the Variable Sub-account.
For any Valuation Period on or after the Annuity Commencement Date, on an annual
basis the daily charge will not exceed [1.40%] of the average daily net assets
of the Variable Sub-account.
The Accumulation Unit value may increase or decrease the dollar value of
benefits under the Contract. Expenses incurred by LNL will not adversely affect
the dollar value of benefits.
ARTICLE 4
FIXED ACCOUNT
4.01 THE FIXED ACCOUNT
The Fixed Account holds the Fixed Sub-accounts for each Guaranteed Period. LNL
reserves the right to discontinue accepting new allocations or transfers to any
of the available Guaranteed Periods at any time. LNL may also add one or more
new Guaranteed Periods at any time.
4.02 ALLOCATION OF PURCHASE PAYMENTS INTO THE FIXED ACCOUNT
Any Purchase Payment to this Contract may be allocated to the Fixed Account for
the Contract. Purchase Payments allocated to the Fixed Account of the Contract
will be credited to the Fixed Sub-account(s) made available by LNL and selected
by the Owner.
The Owner may allocate Purchase Payments to any of the available Fixed
Sub-accounts subject to the following limitations:
a. The minimum amount of a Purchase Payment which may be allocated to any
one Fixed Sub-account is $2000.
b. If the Owner elects to allocate any Purchase Payment to a new Fixed
Sub-account not previously selected, that election must be made in
writing to LNL through voice or electronic instructions, provided LNL
has received the appropriate authorization from the Owner for voice or
electronic instructions in accordance with LNL procedures.
Any Purchase Payment allocated to a Fixed Sub-account will be invested at the
Guaranteed Interest Rate in effect for the respective Guaranteed Period on the
day the allocation is credited to the Fixed Sub-account.
4.03 VALUATION OF FIXED ACCOUNT ALLOCATIONS
The value of the portion of this Contract allocated to the Fixed Account at any
time prior to the Annuity Commencement Date is equal to the sum of the then
current values of all Fixed Sub-account(s) with respect to this Contract before
any applicable Market Value Adjustment. See Section 4.06 for an explanation of
the Market Value Adjustment.
4.04 CREDITING OF INTEREST ON FIXED ACCOUNT
LNL will establish the applicable effective annual Guaranteed Interest Rate for
each Fixed Sub-account at the beginning of that Guaranteed Period. The
Guaranteed Interest Rate will be guaranteed for the duration of the applicable
Guaranteed Period. Subsequent Guaranteed Interest Rate(s) will be determined at
the beginning of subsequent Guaranteed Period(s) and may be higher or lower than
the previous interest rate. A Guaranteed Interest Rate will never be less than
an effective annual interest rate of 3.0%. LNL may credit interest at effective
annual rates in excess of 3.0% at any time.
Prior to the earlier of:
a. the Annuity Commencement Date;
b. termination of this Contract upon payment of any Death Benefit; or
c. surrender of this Contract;
LNL guarantees that at the end of each Valuation Period the applicable effective
annual interest rate, adjusted for the number of days in the Valuation Period,
will be credited to the portion of Contract Value, if any, in the Fixed Account
at that time.
4.05 GUARANTEED PERIODS
Each individual Purchase Payment allocated to a Fixed Sub-account will have an
associated Guaranteed Period, Guaranteed Interest Rate and Expiration Date and
will be treated separately from other Purchase Payments allocated to the Fixed
Account. Multiple Purchase Payments within the same Fixed Sub-account may have
different Guaranteed Interest Rates, Expiration Dates, and Market Value
Adjustments. The Guaranteed Period begins when the Purchase Payment is credited
into that Fixed Sub-account and ends on the Expiration Date for the Guaranteed
Period selected.
LNL will send written notice to the Owner at the last address known to LNL
regarding an upcoming expiration of a Purchase Payment's Guaranteed Period. LNL
will send this notice at least 60 days prior to the Expiration Date of such
Guaranteed Period. The Owner may request in writing, prior to the Expiration
Date of a previously selected Guaranteed Period, to transfer all or a portion of
the value of the amount in a Fixed Sub-account at the Expiration Date. The value
may be transferred to one or more of the Fixed Sub-accounts or Variable
Sub-accounts. Such requests must be in accordance with the transfer provision as
described in Section 5.01. If no written notification from the Owner is received
by LNL prior to the Expiration Date of a previously selected Guaranteed Period,
a subsequent Guaranteed Period of the same duration, if available, will begin
automatically upon the expiration of the preceding Guaranteed Period.
If the written notification requests only a portion of the value of the Fixed
Sub-account to be transferred, the remaining amount will be automatically
invested in a subsequent Guaranteed Period of the same duration upon the
expiration of the preceding Guaranteed Period. In the event the preceding
Guaranteed Period is no longer available and no written notification has been
received from the Owner, all or the remaining portion of value of the Fixed Sub-
account will be transferred to a new Fixed Sub-account for a Guaranteed Period
with the shortest duration currently available.
4.06 MARKET VALUE ADJUSTMENT
Any transfer (except as noted below), withdrawal, or surrender of value from a
Fixed Sub-account, unless effective on the Expiration Date of a Guaranteed
Period, the Annuity Commencement Date, or at the death of the Owner, Joint Owner
or Annuitant, will be increased or decreased by the Market Value Adjustment
described in the following paragraphs. The Market Value Adjustment will not
apply to any Contract Value being transferred as part of a DCA program.
The amount of the Market Value Adjustment is calculated by multiplying the
dollar amount of any transfer, withdrawal, or surrender of value from a Fixed
Sub-account by the following amount:
(1 +A)/n/ divided by (1 + B) /n/ , the result reduced by 1.0, where:
A = the yield rate for a Treasury security (U.S. Treasury Bonds, Notes, or
Bills) with time to maturity equal to the applicable Guaranteed Period,
determined at the beginning of the Guaranteed Period.
B = the yield rate for a Treasury security (U.S. Treasury Bonds, Notes, or
Bills) with time to maturity equal to the applicable Guaranteed Period,
determined at the time of cash withdrawal or transfer, plus the
Percentage Adjustment to Index Rate "B". The Percentage Adjustment to
Index Rate "B" is [0.50%] If rates "A" and "B" are within 0.25% of each
other, the Percentage Adjustment to Index Rate "B" will not be applied.
N = the number of years remaining in the applicable Guaranteed Period (e.g.
1 year and 73 days = 1 + (73 divided by 365) = 1.2 years)
Straight-line interpolation is used to determine the yield rate for a
Treasury security with time to maturity for the applicable Guaranteed
Period if such yield rate is not quoted.
A positive Market Value Adjustment increases the amount transferred, withdrawn,
or surrendered while a negative Market Value Adjustment decreases it.
If such yields are no longer published, LNL will substitute an appropriate index
of publicly traded obligations.
4.07 AUTOMATIC NONFORFEITURE OPTION
In the event that Purchase Payments are discontinued by the Owner, this Contract
will continue and Purchase Payments may be resumed at any time prior to the
earlier of:
a. the Annuity Commencement Date;
b. termination of this Contract upon payment of any Death Benefit;
c. surrender of this Contract; or
d. the Maturity Date.
LNL reserves the right to surrender this Contract in accordance with the terms
set forth in the standard nonforfeiture law, applicable in the state in which
this Contract was purchased, for individual deferred annuities.
4.08 MINIMUM VALUE OF FIXED ACCOUNT
The Minimum Value of the Fixed Account will be determined by crediting an
effective annual interest rate of 3.0%. The effective annual interest rate,
adjusted for the number of days in the Valuation Period, will be credited at the
end of each Valuation Period on the portion of the Contract Value, if any, in
the Fixed Account at that time.
ARTICLE 5
OPTIONS
5.01 TRANSFER OPTION
Prior to the earlier of:
a. the Annuity Commencement Date;
b. termination of this Contract upon payment of any Death Benefit;
c. surrender of this Contract; or
d. the Maturity Date;
the Owner may direct a transfer of a portion of the Contract Value:
a. from one Variable Sub-account to another Variable Sub-account or to a
Fixed Sub-account;
b. from one Fixed Sub-account to another Fixed Sub-account or to a
Variable sub-account; or
c. from a designated DCA holding account to a Variable Sub-account under a
DCA program;
subject to the restrictions described below.
Such a transfer request must be made in writing to LNL through voice or
electronic instructions, provided LNL has received the appropriate authorization
from the Owner for voice or electronic instructions in accordance with LNL
procedures.
A transfer from one Variable Sub-account to another Variable Sub-account will
result in the redemption of Accumulation Units in one Variable Sub-account and
the purchase of Accumulation Units in the other Variable Sub-account. A transfer
from the Fixed Account to a Variable Sub-account will result in a withdrawal of
Contract Value from the Fixed Account and the purchase of Accumulation Units in
the Variable Sub-account. Such transfers will be accomplished at Accumulation
Unit values as of the Valuation Date the transfer request is received in the
Home Office.
Transfers from a Fixed Sub-account will be subject to a Market Value Adjustment
(as described in Section 4.06) unless the transfer is effective on the
Expiration Date of the Guaranteed Period. If a request for a transfer from a
Fixed Sub-account is received during the 60-day period immediately preceding the
Expiration Date of that Guaranteed Period, the transfer will be effective as of
the Expiration Date unless an immediate transfer is requested. If an immediate
transfer is requested, the transfer will occur on the Valuation Date the
transfer is
received in the Home Office. If a transfer request is received at any time other
than during this 60-day period, the transfer will be accomplished as of the
Valuation Date the transfer request is received in the Home Office.
Transfers to a Fixed Sub-account will have an associated Guaranteed Period,
Guaranteed Interest Rate and Expiration Date and will be treated separately from
other Purchase Payment allocations or transfers of a portion of the Contract
Value to the Fixed Account. The allocation of multiple Purchase Payments and
transfers into the same Fixed Sub-account may result in portions of the Contract
Value therein having different Guaranteed Interest Rates, Expiration Dates, and
Market Value Adjustments. The Guaranteed Period begins when the transfer of a
portion of Contract Value is credited into that Fixed Sub-account and ends on
the Expiration Date of the Guaranteed Period selected. See Section 4.05 for an
explanation of Guaranteed Periods and Section 4.04 for an explanation of
Guaranteed Interest Rates.
Transfers will be subject to the following restrictions.
a. Transfers may not be made during the first 30 days after the Contract
Date.
b. Twelve (12) transfers within and/or between the Variable Account and
the Fixed Account may be made per Contract Year. There will be no fee
imposed for these twelve (12) transfers.
c. LNL reserves the right to allow more than twelve (12) transfers per
Contract Year, but in doing so may impose a fee of up to $10.00 for
each transfer after the first twelve (12) transfers in a Contract Year.
Transfers made as a part of an automatic transfer program (such as a
DCA program) will not be counted against these twelve (12) transfers.
d. The minimum single transfer amount from a Variable Sub-account or a
Fixed Sub-account is $300 or the entire amount in the Variable Sub-
account or Fixed Sub-account, whichever is less. If, after the
transfer, the amount remaining under this Contract in the Variable Sub-
account and/or Fixed Sub-account from which the transfer is taken is
less than $300, the entire amount held in that Variable Sub-account
and/or Fixed Sub-account will be transferred with the requested
transfer amount.
e. For transfers on a date other than the Expiration Date of a Guaranteed
Period, the sum of the percentages transferred from any Fixed Sub-
account in any Contract Year, where the percentages are based upon the
value of the Fixed Sub-account at the time of the current withdrawal,
will be limited to [25%] of the value of the Fixed Sub-account. Such
transfers will be subject to a Market Value Adjustment. Transfers made
as a part of an automatic transfer program (such as a DCA program) will
not be counted against the [25%] limit and will not be subject to a
Market Value Adjustment.
f. The minimum transfer amount to a Variable Sub-account is $300.
g. The minimum transfer amount to a Fixed Sub-account is $2000.
If the DCA program is discontinued by the Owner prior to the end of the selected
DCA period, any remaining portion of the Contract Value held in a designated DCA
holding account within the Fixed Account will be transferred automatically to
the Variable Sub-account(s) the Owner selected under the DCA program.
5.02 WITHDRAWAL OPTION
The Owner may withdraw a part of the Contract Value at any time prior to the
earlier of:
a. the Annuity Commencement Date;
b. termination of this Contract upon payment of any Death Benefit;
c. surrender of this Contract; or
d. the Maturity Date.
A withdrawal will be effective on the Valuation Date on which LNL receives a
written request for withdrawal at its Home Office.
The request may specify from which Sub-account the withdrawal will be made. If
no Sub-account is specified, LNL will withdraw the amount requested on a pro-
rata basis from each Variable Sub-account and/or Fixed
Sub-account. Any payment from the Variable Account will be mailed from LNL's
Home Office within seven days after the date of withdrawal; however, LNL may be
permitted to defer such payment under the Investment Company Act of 1940, as in
effect at the time such request for withdrawal is received in its Home Office.
Any payment from the Fixed Account may be deferred for a period not to exceed
six months after receipt of the withdrawal request.
Withdrawals from a Variable Sub-account will result in the redemption of
Accumulation Units from that Variable Sub-account. Such withdrawals will be
accomplished at Accumulation Unit values as of the Valuation Date the withdrawal
request is received in the Home Office.
Withdrawals from a Fixed Sub-account will be subject to a Market Value
Adjustment (as described in Section 4.06) unless the withdrawal is effective on
the Expiration Date of the Guaranteed Period or at the death of the Owner, Joint
Owner or Annuitant. If a request for a withdrawal from a Fixed Sub-account is
received during the 60-day period immediately preceding the Expiration Date of
that Guaranteed Period, the withdrawal will be effective as of the Expiration
Date unless an immediate withdrawal is requested. If an immediate withdrawal is
requested, the withdrawal will occur on the Valuation Date the withdrawal is
received in the Home Office. If a withdrawal request is received at any time
other than during this 60-day period, the withdrawal will be accomplished as of
the Valuation Date the withdrawal request is received in the Home Office.
The minimum withdrawal is $300. LNL reserves the right to surrender this
Contract if any withdrawal reduces the total Contract Value to a level at which
this Contract may be surrendered in accordance with the terms set forth in the
standard nonforfeiture law, applicable in your state in which this Contract was
purchased, for individual deferred annuities. LNL may surrender the Contract for
its surrender value.
The Withdrawal Option is not available after the Annuity Commencement Date.
5.03 SURRENDER OPTION
The Owner may surrender this Contract for its Contract Value at any time prior
to the earlier of:
a. the Annuity Commencement Date;
b. termination of this Contract upon payment of any Death Benefit; or
c. the Maturity Date.
This Contract will terminate upon surrender. The surrender will be effective on
the Valuation Date on which LNL receives a written request for surrender at its
Home Office.
The surrender value on the Valuation Date of surrender will be the sum of "a."
and "b.", where:
"a." is the greater of the Minimum Value of the Fixed Account (see Section
4.08) or the portion of the Contract Value in the Fixed Account after any
Market Value Adjustment(s) (see Section 4.06) and;
"b." is the portion of the Contract Value in the Variable Account.
Any payment from the Variable Account will be mailed from LNL's Home Office
within seven days after the date of surrender, however, LNL may be permitted to
defer such payment under the Investment Company Act of 1940, as in effect at the
time a request for surrender is received in its Home Office. Any payment from
the Fixed Account may be deferred for a period not to exceed six months after
receipt of the withdrawal request.
The Surrender Option is not available after the Annuity Commencement Date.
5.06 ANNUITY ACCOUNT FEE
An Annuity Account Fee of [$35] per Contract Year will be deducted on the next
Valuation Date following the last day of each Contract Year. If the Contract is
surrendered prior to the last day of a Contract Year, the full Annuity Account
Fee will be deducted upon the surrender. The Annuity Account Fee shall be
deducted from each Variable Sub-account and Fixed Sub-account on a pro-rata
basis.
The Annuity Account Fee will be waived for any Contract Year in which the
Contract Value equals or exceeds [$100,000.00] as of the Valuation Date an which
the Annuity Account Fee would otherwise be deducted. The Annuity Account Fee
will also be waived on and after the Annuity Commencement Date.
ARTICLE 6
DEATH BENEFITS
6.01 DEATH BEFORE THE ANNUITY COMMENCEMENT DATE
Entitlement.
If there is a single Owner, then upon the death of the Owner LNL will pay a
Death Benefit to the designated Beneficiary(s) in accordance with the terms of
Article 8. If the designated Beneficiary of the Death Benefit is the surviving
spouse of the deceased Owner, the spouse may elect to continue the Contract as
the new Owner. Upon the death of the spouse who continues the Contract as the
new Owner, LNL will pay a Death Benefit to the designated Beneficiary(s) named
by the spouse, as the new Owner, in accordance with the terms of Article 8. If
there are no designated Beneficiaries, LNL will pay a Death Benefit to the
Owner's estate.
If there are Joint Owners, upon the death of the first Joint Owner, LNL will pay
a Death Benefit to the surviving Joint Owner. If the surviving Joint Owner is
the spouse of the deceased Joint Owner, then the spouse may elect to continue
the Contract as sole Owner. Upon the death of the Joint Owner who continues the
Contract, LNL will pay a Death Benefit to the designated Beneficiary(s) in
accordance with the terms of Article 8.
If the Annuitant is also the Owner or a Joint Owner, then the Death Benefit paid
upon the death of the Annuitant will be subject to the Contract provisions
regarding death of the Owner or a Joint Owner. If the surviving spouse of the
deceased Annuitant assumes the Contract, the Contingent Annuitant, if any, will
become the Annuitant. If there is no named Contingent Annuitant, the surviving
spouse will become the Annuitant.
If an Annuitant who is not the Owner or a Joint Owner dies, then the Contingent
Annuitant, if named, becomes the Annuitant and no Death Benefit is payable on
the death of the Annuitant. If no Contingent Annuitant is named, the Owner (or
younger Joint Owner) becomes the Annuitant. In lieu of continuing the Contract,
a Death Benefit may be paid to the Owner (and Joint Owner in equal shares, if
applicable) if the Annuitant named on this Contract has not been changed, except
on death of a prior Annuitant, and written notification of the election to
receive the Death Benefit is received by LNL within 75 days of the death of the
Annuitant. If no Owner is living on the date of death of the Annuitant, the
Death Benefit will be paid to the Beneficiary in accordance with Article 8. This
Contract will terminate when any Death Benefit is paid due to the death of the
Annuitant. A Death Benefit payable on the death of the Annuitant will not be
paid if the Annuitant has been changed subsequent to the effective date of this
Contract unless the change occurred because of the death of a prior Annuitant.
If the Owner is a corporation or other non-individual (non-natural person), the
death of the Annuitant will be treated as the death of the Owner.
The Death Benefit will be paid upon approval by LNL, after LNL is in receipt of:
a. due proof, satisfactory to LNL, of the death;
b. written authorization for payment; and
c. all claim forms, fully completed.
Due proof of death may be a certified copy of a death certificate, a certified
copy of a decree of a court of competent jurisdiction as to the findings of
death, or any other proof of death acceptable to LNL.
All Death Benefit payments will be subject to the laws and regulations governing
death benefits.
Notwithstanding any provision of this Contract to the contrary, the payment of
Death Benefits provided under the Contract must be made in compliance with Code
Section 72(s) or 401(a)(9) as applicable, as amended from time to time.
Determination of Amounts.
This Contract provides two options for the Death Benefit. The Owner may select
either of these two Death Benefit options to be effective as of the Contract
Date. If no Death Benefit Option is selected, the Enhanced Guaranteed Minimum
Death Benefit option will be the Death Benefit option effective as of the
Contract Date. Each Death Benefit option has a different level of daily charges
(see Section 3.03).
The two Death Benefit options are:
1. Enhanced Guaranteed Minimum Death Benefit [EGMDB]
The EGMDB is equal to the greatest of:
a. the current Contract Value as of the date on which the death claim
is approved by LNL for payment; or
b. the sum of all Purchase Payments minus all withdrawals, partial
annuitizations, and premium tax incurred, if any; or
c. the highest Contract Value on any Contract Date anniversary
(including the Contract Date itself) prior to the 81st birthday of
the deceased (Owner, Joint Owner, or Annuitant) and prior to the
date of death of the deceased (Owner, Joint Owner or Annuitant);
where the highest Contract Value is increased by Purchase Payments
and decreased for partial withdrawals, partial annuitizations, and
premium tax incurred, if any, subsequent to such Contract Date
anniversary on which the highest Contract Value is obtained.
2. [5%] Step-up Death Benefit.
The [5%] Step-up Death benefit is equal to the greatest of:
a. the current Contract Value as of the date on which the death claim
is approved by LNL for payment; or
b. the sum of all Purchase Payments minus all withdrawals, partial
annuitizations, and premium tax incurred, if any; or
c. the highest Contract Value on any Contract Date anniversary
(including the Contract Date itself) prior to the 81st birthday of
the deceased (Owner, Joint Owner, or Annuitant) and prior to the
date of death of the deceased (Owner, Joint Owner or Annuitant);
where the highest Contract Value is increased by Purchase Payments
and decreased for partial withdrawals, partial annuitizations, and
premium tax incurred, if any, subsequent to such Contract Date
anniversary on which the highest Contract Value is obtained; or
d. the accumulation of all Purchase Payments minus the accumulation of
all withdrawals, partial annuitizations and premium tax incurred,
if any; where each Purchase Payment, withdrawal, partial
annuitization and premium tax incurred, if any, will be accumulated
daily at an annual rate of [5%] from the date of the Purchase
Payment, withdrawal, partial annuitization and premium tax
incurred, if any, until the earlier of the date of death of the
deceased (Owner, Joint Owner, or Annuitant) or the Contract Date
anniversary immediately preceding the 81st birthday of the deceased
(Owner, Joint Owner, or Annuitant), except that the accumulation of
any Purchase Payment, withdrawal, partial annuitization and premium
tax incurred, if any, will not exceed [200%] of that Purchase
Payment, withdrawal, partial annuitization, and premium tax
incurred, if any.
On or after the Contract Date, but prior to the Annuity Commencement Date, the
Owner (or a spouse who continues the Contract as the Owner) may choose to
terminate the [5%] Step-up Death Benefit option, if in effect, by giving written
notice to LNL. The EGMDB option will then be effective as of the Valuation Date
on which the written notification to change the Death Benefit option is received
at the Home Office. Termination of the [5%] Step-up Death Benefit option by the
Owner or surviving spouse who assumed the Contract will be permanent and final.
Upon the death of an Owner, Joint Owner, or Annuitant of this Contract, if a
surviving spouse continues the Contract, the excess, if any, of the Death
Benefit over the current Contract Value as of the date on which the death claim
is approved by LNL for payment will be credited into the Contract. This benefit
will only apply one time for each Contract.
If the Owner is a corporation or other non-individual (non-natural person) and
there are Joint Annuitants, upon the death of the first Joint Annuitant to die,
if the Contract is continued, the excess, if any, of the Death Benefit over the
current Contract Value as of the date on which the death claim is approved by
LNL for payment will be credited into the Contract. This benefit will only apply
one time for each Contract.
Payment of Amounts.
The Death Benefit payable on the death of the Owner, or after the death of the
first Joint Owner, or upon the death of the spouse who continues the Contract,
will be distributed to the designated Beneficiary(s) as follows:
a. the Death Benefit must be completely distributed within five years of
the Owner's date of death; or
b. the designated Beneficiary may elect, within the one year period after
the Owner's date of death, to receive the Death Benefit in
substantially equal installments over the life of such designated
Beneficiary or over a period not extending beyond the life expectancy
of such designated Beneficiary; provided that such distributions begin
not later than one year after the Owner's date of death.
The Death Benefit payable upon the death of the Annuitant, if elected by the
Owner or Joint Owner within 75 days of the death of the Annuitant, will be
distributed to the Owner or Joint Owners in either the form of a lump sum or
under an Annuity Payment Option. An Annuity Payment Option must be selected
within 60 days after LNL approves the death claim.
If a lump sum settlement is elected, the proceeds will be mailed within seven
days of approval by LNL of the claim. This payment may be postponed as permitted
by the Investment Company Act of 1940.
6.02 DEATH ON OR AFTER THE ANNUITY COMMENCEMENT DATE
The Death Benefit options listed in Section 6.01 are no longer applicable and
the Death Benefit option in effect will terminate.
If the Owner or a Joint Owner dies on or after the Annuity Commencement Date,
any remaining benefits payable will continue to be distributed under the Annuity
Payment Option then in effect. The rights of ownership granted by the Contract
will pass to the Joint Owner, if any; otherwise to the Beneficiary. If there is
no named Beneficiary at the time of the Owner's or last surviving Joint Owner's
death, then the rights of ownership will pass to the Annuitant, if still living;
otherwise to the Joint Annuitant, if applicable. If no named Joint Owner,
Beneficiary, Annuitant, or Joint Annuitant survives the Owner, any remaining
benefits payable will continue to the Owners estate.
On receipt of due proof of death, as described in Section 6.01, of the Annuitant
or both Joint Annuitants, any remaining benefits payable under the Annuity
Payment Option will be paid to the Owner or Joint Owner, if living; otherwise,
to the Beneficiary. If there is no Beneficiary, any remaining benefits payable
will continue to the Annuitant's estate.
ARTICLE 7
ANNUITY PAYMENT OPTION
7.01 ANNUITY BENEFIT PAYMENTS
An election to receive payments under an Annuity Payment Option must be made by
the Maturity Date. If an Annuity Payment Option is not chosen prior to the
Maturity Date, payments will commence to the Owner on the Maturity Date under
the Annuity Payment Option providing a life annuity with annuity benefit
payments guaranteed for 10 years. The Maturity Date is set forth on the Contract
Data Page(s). Upon written request by the Owner and any Beneficiary who cannot
be changed, the Maturity Date may be deferred. Purchase Payments may be made
until the new Maturity Date.
If the Maturity Date is extended, LNL reserves the right to restrict the
availability of certain Annuity Payment Options.
Any Contract Value from a Fixed Sub-account applied to an Annuity Payment Option
will be exempt from a Market Value Adjustment.
7.02 CHOICE OF ANNUITY PAYMENT OPTION
By Owner
Prior to the Annuity Commencement Date, the Owner may choose or change any
Annuity Payment Option. In addition, the Owner may select an Annuity Payment
Option as the distribution method for payment of the Death
Benefit to a Beneficiary. Such selection of a distribution method must be made
in writing to the Home Office and approved by LNL. The Owner may change or
revoke, in writing to the Home Office, any such selection, unless such selection
was made irrevocable.
By Beneficiary
If an Annuity Payment Option has not been previously selected by the Owner as
the distribution option for payment of the Death Benefit to a Beneficiary, then
at the time proceeds are payable to a Beneficiary, a Beneficiary may choose any
Annuity Payment Option that meets the requirements of Code Section 72(s) or
401(a)(9). The Beneficiary then becomes the Annuitant.
A choice or change of an Annuity Payment Option must be made in writing to LNL.
After the Annuity Commencement Date, the Annuity Payment Option may not be
changed.
7.03 ANNUITY PAYMENT OPTIONS
a. Life Annuity / Life Annuity with Certain Period - Fixed and/or variable
annuity benefit payments will be made for the lifetime of the Annuitant
with no Certain Period, or life and a 10 year Certain Period, or life
and a 20 year Certain Period.
b. Unit Refund Life Annuity - Variable annuity benefit payments will be
made for the lifetime of the Annuitant with the guarantee that upon
death, if:
1) the number of Annuity Units initially purchased (determined by
dividing the total dollar amount applied to purchase this option by
the Annuity Unit value on the Annuity Commencement Date) is greater
than;
2) the number of Annuity Units paid as part of each variable annuity
benefit payment multiplied by the number of annuity benefit
payments paid prior to death;
then a refund payment equal to the number of Annuity Units determined
by (1) minus (2) will be made.
The refund payment value will be determined using the Annuity Unit
value on the Valuation Date on which the refund payment is approved by
LNL, after LNL is in receipt of:
(a) due proof of death acceptable to LNL;
(b) written authorization for payment; and
(c) all claim forms, full completed.
c. Cash Refund Life Annuity - Fixed annuity benefit payments will be made
for the lifetime of the Annuitant with the guarantee that upon death,
if:
1) the total dollar amount applied to purchase this option is greater
than;
2) the fixed annuity benefit payment multiplied by the number of
annuity benefit payments paid prior to death;
then a refund payment equal to the dollar amount of (1) minus (2) will
be made.
The refund payment will be paid upon approval by LNL, after LNL is in
receipt of:
(a) due proof of death acceptable to LNL;
(b) written authorization for payment; and
(c) all claim forms, fully completed.
d. Joint Life Annuity / Joint Life Annuity with Certain Period - Fixed
and/or variable annuity benefit payments will be made during the joint
life of the Annuitant and a Joint Annuitant. Payments will be made
for joint life with no Certain Period, or joint life and a 10-year
Certain Period, or joint life and a 20-year Certain Period. Upon the
death of either ▇▇▇▇▇▇▇▇▇, annuity benefit payments continue for the
life of the surviving Annuitant.
e. Joint Life and Two-Thirds to Survivor Annuity / Joint Life and Two-
Thirds to Survivor Annuity with Certain Period - Fixed and/or variable
annuity benefit payments will be made during the joint life of the
Annuitant and a Joint Annuitant. Upon the death of either ▇▇▇▇▇▇▇▇▇,
two-thirds of the annuity benefit payment due while both Annuitants
were alive will continue for the life of the surviving Annuitant.
Payments will be made for joint life with no Certain Period, or joint
life and a 10-year Certain Period, or joint life and a 20-year Certain
Period.
f. Other options may be available as agreed upon in writing by LNL.
At the time an Annuity Payment, adjusted as described in Section 7.04, Option is
selected under the provisions of this Contract, the Owner may elect to have the
Contract Value, adjusted as described in Section 7.04, applied to provide a
variable annuity benefit payment, a fixed annuity benefit payment, or a
combination fixed and variable annuity benefit payment. If no election is made,
the value of the Owner's Variable Account will be used to provide a variable
annuity benefit payment and the value of the Owner's Fixed Account will be used
to provide a fixed annuity benefit payment.
7.04 DETERMINATION OF THE AMOUNT OF THE FIRST ANNUITY PAYMENT
The amount of annuity benefit payment will depend on the age and sex (except in
cases where unisex rates are required) of the Annuitant(s) as of the Annuity
Commencement Date. A choice may be made to receive payments once each month,
four times each year, twice each year, or once each year.
Article 10 of this Contract illustrates the minimum payment amounts and the age
adjustments which will be used to determine the first monthly payment for a
unisex variable annuity benefit payment based upon the assumed interest rate
selected by the Owner. The tables show the dollar amount of the first monthly
payment which can be purchased with each $1,000 of Contract Value, after
deduction of any applicable premium taxes. Amounts shown use the 1983 'a'
Individual Annuity Mortality Table, modified, with an assumed interest rate of
3.0%, 4.0%, 5.0% and 6.0% per year. The Owner must select one of the assumed
interest rates for the variable annuity benefit payment prior to the Annuity
Commencement Date. The assumed interest rate may not be changed after the
Annuity Commencement Date.
Article 11 of this Contract illustrates the minimum payment amounts and the age
adjustments which will be used to determine the monthly payments for a fixed
annuity benefit payment. The tables show the dollar amount of the guaranteed
monthly payments which can be purchased with each $1,000 of Contract Value,
after deduction of any applicable premium taxes. Amounts shown use the 1983 'a'
Individual Annuity Mortality Table, modified, with an interest rate of 3.0% per
year.
For a 100% fixed annuity benefit payment, the Annuity Payment Date must be at
least 30 days after the Annuity Commencement Date. If any portion of the annuity
benefit payment will be on a variable basis, the Annuity Payment Date will be 14
days after the Annuity Commencement Date. The Annuity Unit value, if applicable,
and Contract Value used to effect annuity benefit payments will be determined as
of the Annuity Commencement Date.
7.05 DETERMINATION OF THE AMOUNT OF VARIABLE ANNUITY PAYMENTS AFTER THE FIRST
PAYMENT
The first variable annuity benefit payment is sub-divided into components, each
of which represents the product of:
a. the percentage elected by the Owner of a specific Variable Sub-account,
the performance of which will determine future variable annuity benefit
payments, and
b. the entire first variable annuity benefit payment.
Each variable annuity benefit payment after the first payment attributable to a
specific Variable Sub-account will be determined by multiplying the Annuity Unit
value for the Variable Sub-account for the date each payment is due by a
constant number of Annuity Units. This constant number of each specific Variable
Sub-account is determined by dividing the component of the first payment
attributable to such Variable Sub-account as described above by the Annuity Unit
value for that Variable Sub-account on the Annuity Commencement Date. The total
variable annuity benefit payment will be the sum of the payments attributable to
each Variable Subaccount. In absence of transfers between Variable Sub-accounts,
the number of Annuity Units attributable to
each Variable Sub-account remains constant, although the Annuity Unit values
will vary with the investment performance of the Funds. The Annuity Unit value
may increase or decrease the dollar value of benefits under the Contract.
The Annuity Unit value for any Valuation Period for any Variable Sub-account is
determined by multiplying the Annuity Unit value for the immediately preceding
Valuation Period by the product of (a) the daily factor raised to a power equal
to the number of days in the current Valuation Period and (b) the Accumulation
Unit value of the same Variable Sub-account for this Valuation Period divided by
the Accumulation Unit value of the same Variable Sub-account for the immediately
preceding Valuation Period. The daily factor is equal to 0.999919020 for a 3%
assumed interest rate, 0.999892552 for a 4% assumed interest rate, 0.999866337
for a 5% assumed interest rate, and 0.999840372 for a 6% assumed interest rate.
The valuation of all assets in the Variable Sub-account will be determined in
accordance with the provisions of applicable laws, rules, and regulations. The
method of determination by LNL of the value of an Accumulation Unit and of any
Annuity Unit will be conclusive upon the Owner and any Beneficiary.
LNL guarantees that the dollar amount of each installment after the first will
not be affected by variations in mortality experience from mortality assumptions
on which the first installment is based. After the Annuity Commencement Date, if
any portion of the annuity benefit payment is a variable annuity benefit
payment, the Owner may direct a transfer of assets from one Variable Sub-account
to another Variable Sub-account or to a fixed annuity benefit payment. Such
transfers will be limited to three (3) times per Contract Year. Assets may not
be transferred from a fixed annuity benefit payment to a variable annuity
benefit payment.
A transfer from one Variable Sub-account to another Variable Sub-account will
result in the purchase of Annuity Units in one Variable Sub-account and the
redemption of Annuity Units in the other Variable Sub-account. Such a transfer
will be accomplished at relative Annuity Unit values as of the Valuation Date
the transfer request is received by LNL. The valuation of Annuity Units is
described above. A transfer from that Variable Sub-account to a fixed annuity
benefit payment will result in the redemption of Annuity Units in a Variable
Sub-account and the purchase of a minimum fixed annuity benefit payment based on
the tables in Article 11.
7.06 PROOF OF AGE
Payment will be subject to proof of age that LNL will accept, such as a
certified copy of a birth certificate.
7.07 MINIMUM ANNUITY 13ENEFIT PAYMENT REQUIREMENTS
If the Annuity Payment Option chosen results in payments of less than $50 from
any Variable Sub-account and/or a fixed annuity benefit payment of less than
$50, the frequency will be changed so that payments will be at least $50.
7.08 EVIDENCE OF SURVIVAL
LNL has the right to ask for proof that the person (or persons) on whose life
(or lives) the payment is based is alive when each payment is due.
7.09 CHANGE IN ANNUITY PAYMENT OPTION
The Annuity Payment Option may not be changed after the Annuity Commencement
Date.
ARTICLE 8
BENEFICIARY
8.01 DESIGNATION OF BENEFICIARY
The Owner may designate a Beneficiary(s) and a contingent Beneficiary(s).
If there is a single Owner, the designated Beneficiary(s) will receive the Death
Benefit proceeds upon the death of the Owner unless the Beneficiary as the
surviving spouse elects to continue the Contract.
If there are Joint Owners, upon the death of the first Joint Owner, the
surviving Joint Owner will receive the Death Benefit proceeds. The surviving
Joint Owner will be treated as the primary designated Beneficiary. Any other
Beneficiary designation on record at the time of death will be treated as a
contingent Beneficiary.
If the surviving spouse of the deceased continues the Contract as the sole
Owner, then the designated Beneficiary(ies) move up, in the order of their
original designation, to replace the spouse as original Beneficiary, unless the
Beneficiary designation is subsequently changed by the surviving spouse as the
new Owner (see Section 8.02).
If the Annuitant dies and a Death Benefit is paid, the Owner (and Joint Owner if
applicable) will be treated as the primary designated Beneficiary(ies). Any
other Beneficiary designation on record at the time of death will be treated as
a contingent Beneficiary.
Unless otherwise stated in the Beneficiary designation, if there is more than
one Beneficiary they are presumed to share equally.
8.02 CHANGE OF BENEFICIARY.
The Owner may change any Beneficiary unless otherwise provided in the previous
designation. A change of Beneficiary will revoke any previous designation. A
change may be made by filing a written request, in a form acceptable to LNL, at
its Home Office. The change will become effective upon receipt of the written
request by LNL at its Home Office.
LNL reserves the right to request the Contract for endorsement of the change.
8.03 DEATH OF BENEFICIARY
Unless otherwise provided in the Beneficiary designation, if any Beneficiary
dies before the Owner, that Beneficiary's interest will go to any other
Beneficiaries named, according to their respective interests. If there are no
Beneficiaries, the Beneficiary's interest will pass to a contingent
Beneficiary(s), if any. Prior to the Annuity Commencement Date, if no
Beneficiary or contingent Beneficiary survives the Owner, the Death Benefits
will be paid to the Owner's estate.
Unless otherwise provided in the Beneficiary designation, once a Beneficiary is
receiving Death Benefits or annuity benefit payments under an Annuity Payment
Option, the Beneficiary may name his or her own Beneficiary(s) to receive any
remaining benefits due under the Contract, should the original Beneficiary die
prior to receipt of all benefits. If no Beneficiary is named or the named
Beneficiary predeceases the original Beneficiary, any remaining benefits will
continue to the original Beneficiary's estate. A Beneficiary designation must be
made in writing to the LNL Home Office in a form acceptable to LNL.
ARTICLE 9
GENERAL PROVISIONS
9.01 THE CONTRACT
The Contract and any riders attached constitute the entire Contract. Only the
President, a Vice President, the Secretary or an Assistant Secretary of LNL has
the power, an behalf of LNL, to change, modify, or waive any provisions of this
Contract.
LNL reserves the right to unilaterally change the Contract for the purpose of
keeping the Contract in compliance with federal or state law.
Any changes, modifications, or waivers must be in writing. No representative or
person other than the above named officers has authority to change or modify
this Contract or waive any of its provisions. All terms used in this Contract
will have their usual and customary meaning except when specifically defined.
9.02 OWNERSHIP
The Owner is the person who has the ability to exercise the rights within this
Contract.
The Owner may name a Joint Owner. Joint Owners will be treated as having equal,
undivided interests in the Contract, including rights of survivorship. Either
Joint Owner, independently of the other, may exercise any ownership rights in
the Contract.
9.03 ANNUITANTS
Prior to the Annuity Commencement Date.
The Owner may name only one Annuitant. If the Owner is an exempt organization
under Code Section 501(c), the Owner may name one Annuitant or two Joint
Annuitants.
If the Owner is a natural person, the Owner has the right to change the
Annuitant at any time by notifying LNL in writing of the change. The new
Annuitant must be under the age of 91 as of the effective date of the change. A
Death Benefit may not be payable upon the death of the new Annuitant.
A Contingent Annuitant may be named, or changed, by notifying LNL in writing.
On or After the Annuity Commencement Date.
The Annuitant or Joint Annuitants may not be changed. Any Contingent Annuitant
designation is no longer applicable and is terminated.
9.04 ASSIGNMENTS
If this Contract is used with a Qualified Plan, the Contract will not be
transferable unless allowed under applicable law. In addition, if this Contract
is used with either a Qualified or Non-Qualified Plan, it may not be sold,
discounted or pledged as collateral for a loan or as security for the
performance of an obligation or for any other purpose.
9.05 INCONTESTABILITY
This Contract will not be contested by LNL.
9.06 MISSTATEMENT OF AGE AND/OR SEX
If the age and/or sex of the Annuitant(s) has been misstated, the benefits
available under this Contract will be those which the Purchase Payments would
have purchased using the correct age and/or sex. Any underpayment already made
by LNL will be made up immediately and any overpayments already made by LNL will
be charged against the annuity benefit payments failing due after the correction
is made.
9.07 NONPARTICIPATING
The Contract is nonparticipating and will not share in the surplus earnings of
LNL.
9.08 VOTING RIGHTS
The Owner will have a right to vote only at the meetings of the Funds of the
Variable Account invested in by the Owner due to the Owner's interest in the
Variable Sub-accounts of the Variable Account. Ownership of this Contract will
not entitle any person to vote at any meeting of shareholders of LNL. Votes
attributable to the Contract will be cast in conformity with applicable law.
9.09 OWNERSHIP OF THE ASSETS
LNL will have exclusive and absolute ownership and control of its assets,
including all assets in the Variable Account.
9.10 REPORTS
Prior to the Annuity Commencement Date, at least once each Contract Year, LNL
will mail a report to the Owner. The report will be mailed to the last address
known to LNL. The report will include a statement of the number of Accumulation
Units credited to the Variable Account under this Contract and the dollar value
of such units as well as a statement of the value of the Fixed Account of this
Contract. The information in the report will be as of a date not more than two
months prior to the date of mailing the report. LNL will also mail to the Owner
at least once in each Contract Year a report of the investments held in the
Variable Sub-accounts under this Contract.
9.11 PREMIUM TAX
State and local government premium tax, if applicable, will be deducted from
Purchase Payments or Contract Value when incurred by LNL or at another time of
LNL's choosing.
9.12 MAXIMUM ISSUE AGE
The Owner (or both Joint Owners, if applicable) and the Annuitant (or both Joint
Annuitants, if applicable) must be under the age of 91 when this Contract is
issued.
ARTICLE 10
ANNUITY PURCHASE RATES UNDER A VARIABLE PAYMENT OPTION
10.01 A VARIABLE PAYMENT OPTION WITH A 3.0% ASSUMED INTEREST RATE
--------------------------------------------------------------------------------
DOLLAR AMOUNT OF FIRST MONTHLY PAYMENT WHICH IS
PURCHASED WITH EACH $1,000 APPLIED
--------------------------------------------------------------------------------
SINGLE LIFE ANNUITIES
--------------------------------------------------------------------------------
No 120 240
Period Months Months Unit
Age Certain Certain Certain Refund
--------------------------------------------------------------------------------
60 $4.33 $4.29 $4.13 $4.10
61 4.43 4.38 4.20 4.17
62 4.53 4.47 4.27 4.24
63 4.64 4.57 4.34 4.32
64 4.75 4.68 4.40 4.40
65 4.87 4.79 4.47 4.48
66 5.00 4.90 4.55 4.57
67 5.15 5.03 4.61 4.67
68 5.30 5.16 4.68 4.77
69 5.46 5.30 4.75 4.87
70 5.64 5.44 4.81 4.98
71 5.83 5.60 4.88 5.10
72 6.03 5.76 4.93 5.22
73 6.25 5.93 4.99 5.35
74 6.50 6.10 5.04 5.48
75 6.76 6.29 5.08 5.62
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
JOINT AND SURVIVOR ANNUITIES
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Joint and Full to Survivor Joint and Two-Thirds to Survivor
--------------------------------------------------------------------------------
Certain Period Certain Period
--------------------------------------------------------------------------------
Joint
None 120 240 Age None 120 240
--------------------------------------------------------------------------------
$3.93 $3.93 $3.90 60 $4.34 $4.29 $4.14
4.00 4.00 3.96 61 4.43 4.38 4.20
4.08 4.08 4.03 62 4.53 4.48 4.27
4.17 4.16 4.10 63 4.64 4.58 4.34
4.25 4.25 4.18 64 4.75 4.68 4.41
4.35 4.34 4.25 65 4.88 4.79 4.48
4.45 4.44 4.33 66 5.01 4.91 4.55
4.56 4.55 4.41 67 5.15 5.03 4.61
4.68 4.66 4.49 68 5.30 5.16 4.68
4.80 4.78 4.57 69 5.46 5.29 4.75
4.94 4.91 4.64 70 5.63 5.44 4.81
5.08 5.05 4.72 71 5.81 5.59 4.87
5.23 5.19 4.79 72 6.01 5.74 4.93
5.40 5.34 4.86 73 6.22 5.91 4.98
5.57 5.50 4.93 74 6.45 6.08 5.03
5.77 5.67 4.99 75 6.70 6.25 5.08
--------------------------------------------------------------------------------
Age Adjustment Table
Year of Birth Adjustment to Age Year of Birth Adjustment to Age
------------- ----------------- ------------- -----------------
Before 1920 + 2 1960-1969 -3
1920-1929 + 1 1970-1979 -4
1930-1939 0 1980-1989 -5
1940-1949 - 1 1990-1999 -6
1950-1959 -2 ETC. ETC.
10.02 A VARIABLE PAYMENT OPTION WITH A 4.0% ASSUMED INTEREST RATE
-------------------------------------------------------------------------------
DOLLAR AMOUNT OF FIRST MONTHLY PAYMENT WHICH IS
PURCHASED WITH EACH $1,000 APPLIED
-------------------------------------------------------------------------------
SINGLE LIFE ANNUITIES
-------------------------------------------------------------------------------
No 120 240
Period Months Months Unit
Age Certain Certain Certain Refund
-------------------------------------------------------------------------------
60 $4.88 $4.83 $4.66 $4.67
61 4.97 4.92 4.72 4.74
62 5.07 5.01 4.79 4.82
63 5.18 5.11 4.85 4.90
64 5.30 5.21 4.92 4.99
65 5.42 5.32 4.99 5.08
66 5.55 5.43 5.05 5.17
67 5.69 5.55 5.12 5.27
68 5.84 5.68 5.18 5.38
69 6.00 5.82 5.25 5.49
70 6.18 5.96 5.31 5.61
71 6.37 6.11 5.37 5.73
72 6.57 6.27 5.42 5.86
73 6.80 6.44 5.47 6.00
74 7.04 6.61 5.52 6.14
75 7.30 6.79 5.56 6.29
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
JOINT AND SURVIVOR ANNUITIES
-------------------------------------------------------------------------------
Joint and Full to Survivor Joint and Two-Thirds to Survivor
-------------------------------------------------------------------------------
Certain Period Certain Period
-------------------------------------------------------------------------------
Joint
None 120 240 Age None 120 240
-------------------------------------------------------------------------------
$4.47 $4.46 $4.43 60 $4.89 $4.84 $4.67
4.54 4.53 4.49 61 4.98 4.92 4.73
4.61 4.61 4.56 62 5.08 5.01 4.79
4.69 4.69 4.63 63 5.19 5.11 4.86
4.78 4.78 4.70 64 5.30 5.21 4.92
4.88 4.87 4.77 65 5.42 5.32 4.99
4.97 4.96 4.84 66 5.55 5.44 5.05
5.08 5.07 4.92 67 5.69 5.56 5.12
5.20 5.18 4.99 68 5.84 5.68 5.18
5.32 5.30 5.07 69 6.00 5.82 5.25
5.45 5.42 5.14 70 6.17 5.96 5.31
5.59 5.56 5.22 71 6.36 6.10 5.36
5.74 5.70 5.29 72 6.55 6.25 5.42
5.91 5.85 5.35 73 6.76 6.41 5.47
6.08 6.01 5.41 74 6.99 6.58 5.52
6.27 6.17 5.47 75 7.24 6.75 5.56
-------------------------------------------------------------------------------
Age Adjustment Table
Year of Birth Adjustment to Age Year of Birth Adjustment to Age
-------------------- ----------------- ------------- -----------------
Before 1920 +2 1960-1969 -3
1920-1929 +1 1970-1979 -4
1930-1939 0 1980-1989 -5
1940-1949 -1 1990-1999 -6
1950-1959 -2 ETC. ETC.
Form 30288 ?????
10.03 A VARIABLE PAYMENT OPTION WITH A 5.0% ASSUMED INTEREST RATE
-------------------------------------------------------------------------------
DOLLAR AMOUNT OF FIRST MONTHLY PAYMENT WHICH IS
PURCHASED WITH EACH $1,000 APPLIED
-------------------------------------------------------------------------------
SINGLE LIFE ANNUITIES
-------------------------------------------------------------------------------
No 120 240
Period Months Months Unit
Age Certain Certain Certain Refund
-------------------------------------------------------------------------------
60 $5.45 $5.39 $5.21 $5.26
61 5.55 5.48 5.27 5.33
62 5.64 5.57 5.33 5.41
63 5.75 5.66 5.39 5.49
64 5.86 5.76 5.46 5.58
65 5.98 5.87 5.52 5.67
66 6.11 5.98 5.58 5.77
67 6.25 6.10 5.64 5.87
68 6.40 6.22 5.70 5.98
69 6.56 6.35 5.76 6.10
70 6.73 6.49 5.82 6.22
71 6.92 6.64 5.88 6.35
72 7.13 6.80 5.93 6.48
73 7.35 6.96 5.98 6.62
74 7.60 7.13 6.02 6.77
75 7.86 7.30 6.06 6.93
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
JOINT AND SURVIVOR ANNUITIES
-------------------------------------------------------------------------------
Joint and Full to Survivor Joint and Two-Thirds to Survivor
-------------------------------------------------------------------------------
Certain Period Certain Period
-------------------------------------------------------------------------------
Joint
None 120 240 Age None 120 240
-------------------------------------------------------------------------------
$5.03 $5.03 $4.99 60 $5.46 $5.40 $5.22
5.10 5.09 5.05 61 5.55 5.48 5.28
5.17 5.17 5.11 62 5.65 5.57 5.34
5.25 5.24 5.18 63 5.75 5.67 5.40
5.33 5.33 5.24 64 5.86 5.77 5.46
5.42 5.41 5.31 65 5.98 5.87 5.52
5.52 5.51 5.38 66 6.11 5.98 5.58
5.62 5.61 5.45 67 6.25 6.10 5.64
5.73 5.72 5.52 68 6.40 6.22 5.70
5.85 5.83 5.59 69 6.56 6.35 5.76
5.98 5.95 5.66 70 6.73 6.49 5.82
6.12 6.08 5.73 71 6.91 6.63 5.87
6.27 6.22 5.80 72 7.11 6.78 5.93
6.43 6.37 5.86 73 7.32 6.94 5.97
6.61 6.52 5.92 74 7.55 7.10 6.02
6.80 6.69 5.97 75 7.79 7.26 6.06
-------------------------------------------------------------------------------
Age Adjustment Table
Year of Birth Adjustment to Age Year of Birth Adjustment to Age
-------------------- ----------------- ------------- -----------------
Before 1920 +2 1960-1969 -3
1920-1929 +1 1970-1979 -4
1930-1939 0 1980-1989 -5
1940-1949 -1 1990-1999 -6
1950-1959 -2 ETC. ETC.
10.04 A VARIABLE PAYMENT OPTION WITH A 6.0% ASSUMED INTEREST RATE
-------------------------------------------------------------------------------
DOLLAR AMOUNT OF FIRST MONTHLY PAYMENT WHICH IS
PURCHASED WITH EACH $1,000 APPLIED
-------------------------------------------------------------------------------
SINGLE LIFE ANNUITIES
-------------------------------------------------------------------------------
No 120 240
Period Months Months Unit
Age Certain Certain Certain Refund
-------------------------------------------------------------------------------
60 $6.05 $5.98 $5.78 $5.86
61 6.13 6.06 5.84 5.93
62 6.23 6.14 5.90 6.01
63 6.33 6.23 5.95 6.10
64 6.44 6.33 6.01 6.18
65 6.56 6.43 6.07 6.28
66 6.69 6.54 6.13 6.37
67 6.82 6.65 6.19 6.48
68 6.97 6.78 6.24 6.59
69 7.13 6.90 6.30 6.70
70 7.30 7.04 6.35 6.83
71 7.49 7.18 6.40 6.96
72 7.70 7.33 6.45 7.10
73 7.92 7.49 6.50 7.24
74 8.16 7.65 6.54 7.40
75 8.43 7.82 6.58 7.56
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
JOINT AND SURVIVOR ANNUITIES
-------------------------------------------------------------------------------
Joint and Full to Survivor Joint and Two-Thirds to Survivor
-------------------------------------------------------------------------------
Certain Period Certain Period
-------------------------------------------------------------------------------
Joint
None 120 240 Age None 120 240
-------------------------------------------------------------------------------
$5.61 $5.61 $5.57 60 $6.05 $5.98 $5.79
5.68 5.67 5.63 61 6.14 6.06 5.84
5.75 5.74 5.69 62 6.23 6.15 5.90
5.82 5.82 5.75 63 6.34 6.24 5.96
5.90 5.89 5.81 64 6.45 6.33 6.01
5.99 5.98 5.87 65 6.56 6.43 6.07
6.08 6.07 5.94 66 6.69 6.54 6.13
6.18 6.17 6.00 67 6.82 6.66 6.19
6.29 6.27 6.07 68 6.97 6.77 6.24
6.41 6.38 6.14 69 7.13 6.90 6.30
6.53 6.50 6.20 70 7.30 7.03 6.35
6.67 6.63 6.27 71 7.48 7.17 6.40
6.81 6.76 6.33 72 7.67 7.32 6.45
6.97 6.90 6.39 73 7.89 7.47 6.50
7.14 7.05 6.44 74 8.11 7.62 6.54
7.33 7.21 6.50 75 8.36 7.79 6.57
-------------------------------------------------------------------------------
Age Adjustment Table
Year of Birth Adjustment to Age Year of Birth Adjustment to Age
-------------------- ----------------- ------------- -----------------
Before 1920 +2 1960-1969 -3
1920-1929 +1 1970-1979 -4
1930-1939 0 1980-1989 -5
1940-1949 -1 1990-1999 -6
1950-1959 -2 ETC. ETC.
ARTICLE 11
ANNUITY PURCHASE RATES UNDER A FIXED PAYMENT OPTION
--------------------------------------------------------
DOLLAR AMOUNT OF FIRST MONTHLY PAYMENT WHICH IS
PURCHASED WITH EACH $1,000 APPLIED
--------------------------------------------------------
SINGLE LIFE ANNUITIES
--------------------------------------------------------
No 120 240
Period Months Months Unit
Age Certain Certain Certain Refund
--------------------------------------------------------
60 $4.42 $4.38 $4.22 $4.18
61 4.52 4.47 4.29 4.26
62 4.62 4.56 4.36 4.34
63 4.73 4.66 4.43 4.42
64 4.85 4.77 4.50 4.51
65 4.97 4.89 4.57 4.60
66 5.11 5.01 4.64 4.69
67 5.25 5.13 4.71 4.79
68 5.41 5.27 4.78 4.90
69 5.57 5.41 4.85 5.01
70 5.75 5.56 4.91 5.13
71 5.95 5.71 4.98 5.25
72 6.16 5.88 5.04 5.38
73 6.38 6.05 5.09 5.52
74 6.63 6.23 5.14 5.66
75 6.90 6.42 5.19 5.81
--------------------------------------------------------
---------------------------------------------------------------------------------------------------------
JOINT AND SURVIVOR ANNUITIES
---------------------------------------------------------------------------------------------------------
Joint and Full to Survivor Joint and Two-Thirds to Survivor
---------------------------------------------------------------------------------------------------------
Certain Period Certain Period
---------------------------------------------------------------------------------------------------------
Joint
None 120 240 Age None 120 240
---------------------------------------------------------------------------------------------------------
$4.01 $4.01 $3.98 60 $4.43 $4.38 $4.22
4.09 4.08 4.05 61 4.52 4.47 4.29
4.17 4.16 4.12 62 4.63 4.57 4.36
4.25 4.25 4.19 63 4.74 4.67 4.43
4.34 4.34 4.26 64 4.85 4.78 4.50
4.44 4.43 4.34 65 4.98 4.89 4.57
4.54 4.54 4.42 66 5.11 5.01 4.64
4.66 4.64 4.50 67 5.26 5.13 4.71
4.77 4.76 4.58 68 5.41 5.27 4.78
4.90 4.88 4.66 69 5.57 5.41 4.85
5.04 5.01 4.74 70 5.75 5.55 4.91
5.18 5.15 4.82 71 5.94 5.70 4.98
5.34 5.30 4.89 72 6.14 5.86 5.03
5.51 5.45 4.96 73 6.35 6.03 5.09
5.69 5.62 5.03 74 6.59 6.20 5.14
5.89 5.79 5.09 75 6.84 6.38 5.18
---------------------------------------------------------------------------------------------------------
Age Adjustment Table
Year of Birth Adjustment to Age Year of Birth Adjustment to Age
------------- ----------------- ------------- -----------------
Before 1920 + 2 1960-1969 -3
1920-1929 + 1 1970-1979 -4
1930-1939 0 1980-1989 -5
1940-1949 -1 1990-1999 -6
1950-1959 -2 ETC. ETC.
ANNUITY
CONTRACT
Flexible Premium Deferred
Variable Annuity and/or Market Value Adjusted Annuity
With Benefit Payment Options
Nonparticipating
If you have any questions concerning
this Contract, please
contact your Lincoln National Life
representative or the Home Office of LNL.
THE LINCOLN NATIONAL
LIFE INSURANCE COMPANY
▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
P.O. Box 7866
Fort ▇▇▇▇▇, Indiana 46802
▇▇▇-▇▇▇-▇▇▇▇