A review of First Penn-Pacific Health Insurance Company leads to Lincoln Financial Products. Last year, First Penn-Pacific was bought by Lincoln Financial Products and joined their team of companies. They provide innovative financial products to customers, both individuals and businesses.
Lincoln Financial sells financial products for individuals, businesses, and employees. They have been in business since June of 1905. The company is named after Abraham Lincoln because he was known for his honesty and they wanted to be a company of honesty. President Lincoln’s surviving son at the time gave the founders the permission they needed to use his name and picture as their logo.
Lincoln Financial Group Products for Individuals
Lincoln Financial Group offers a variety of products for individuals including annuities, life insurance, and long-term care insurance. Lincoln Financial Group’s annuities come in:
- Fixed annuities
- Fixed indexed annuities
- Immediate annuities
- Variable annuities
Each of these annuity types come in low, mid, and high risk formats with varied returns guarantees.
Life insurance policies cannot be a one size fits all product. Though life insurance is necessary, it is also very personal. Each person has an idea of what they would like to be able to leave behind for their family, but they also have to consider what they can afford while living and what fits into their monthly budget.
Lincoln Financial Group life insurance policies are available in a variety of formats so each customer can choose the package that works best for them. Term Life, Universal Life, Variable Universal Life and more are all available through the agents of Lincoln Financial Group. Term and universal plans are not based on investments so the return is lower, but variable plans are based on investments and offer a higher return.
Lincoln Financial Group Products for Businesses
Lincoln Financial Group Products are available for both small and large businesses. Products are customized to meet the specific needs of the company. A retail business has different insurance needs than a wholesale business so it is important that an insurance company understands what a specific industry needs.
Retirement plans from Lincoln Financial Group are for employers to offer to their employees. They focus on simplifying the processing so employers do not have to try to understand all the intricate details of retirement plan options. They have specialized retirement options for:
- Health care providers
- Education organizations
- Government employees
- Non-profit organizations
In the area of group insurance, Lincoln Financial Group tries to offer a little bit of everything so employers can find everything they are looking for in one place. Group insurance options include:
- Term life
- Short-term disability
- Long-term disability
- Critical illness
- Employee assistance
- Voluntary programs
Executive benefits are exclusively for those who serve in an executive position at a corporation. Executive benefits differ from other benefits because of the income bracket executives fall into and the pension compensation benefits they will receive at retirement. Executive benefits are available for those who work in:
- Non-profit organizations
Lincoln Financial Group Employee Options
Employee benefits are sighted as the number one reason individuals stay at a job. As the healthcare system in America struggles and more and more individuals are faced with trying to afford healthcare, having an employer that offers benefits is a necessity for many. Offering benefits to employees is the best employee retention program that you can have as an employer.
In the area of employee benefits, employers can choose from a variety of options offered by Lincoln Financial Group from which to choose:
- Term Life Insurance
- Accidental Death and Dismemberment
- Short-Term Disability
- Long-Term Disability
- Dental Insurance
- Accident Insurance
- Critical Illness Insurance
- Employee Assistance Programs
Any or all of these insurance options can be customized to meet the needs of the business, the size of the business, and the insurance budget of the business. Not all businesses need all types of coverage and Lincoln Financial is not interested in over-insuring their customers. They want businesses to have affordable, quality benefits to offer their employees.