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Lincoln National (LNC) Unit Ties Up to Aid Clients Fulfill Goals

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Lincoln National Corporation’s (LNC - Free Report) division Lincoln Financial Network’s unit Lincoln Financial Securities (“LFS”) recently teamed up with AIMCOR EIG in a bid to offer a diversified array of insurance products to financial professionals and their clients.

Shares of Lincoln National have lost 3.3% on Jul 16, replicating declines in broader markets.

The tie-up aims to extend a helping hand toward financial professionals and offer them the required platform, expertise and resources to integrate insurance planning into their service offerings. With enhanced products in place, the financial professionals of LFS will be equipped to offer increased insurance and protection solutions for their clients. Besides, clients will benefit from the comprehensive financial planning resulting from the partnership.

The tie-up strives to boost internal capabilities of LFS as the extensive capabilities of AIMCOR EIG delve into the local markets of each financial professional. This empowers it to devise products and assistance in sync with diversified needs of each financial professional.

The recent alliance seems to be a time opportune one. The COVID-19 pandemic has triggered financial insecurities worldwide. Markets have remained volatile since the onset of the outbreak, which heightened the need of offering protection to savings of Americans. As a result, financial planning became the need of the hour in order to address financial goals of individuals, ranging from devising a suitable retirement plan to meeting escalating healthcare expenses. With a sound financial planning in place, an individual can utilize their income, incur costs and undertake investments in the best possible manner.

There is a booming demand for insurance and protection products. In such a scenario, the well-established B2B insurance platform AIMCOR EIG seems to be an apt partner in providing a holistic financial planning. It boasts of robust comprehensive technology capabilities that facilitate cutting-edge market intelligence software and end-to-end e-processing solutions with an aim to enhance user experience.

With the latest partnership, performance of Lincoln National’s retail wealth management business Lincoln Financial Network is likely to witness an uptick. Followed by sound performance of the subsidiary, revenues of the company are expected to gain thereby sustaining the revenue growth trend since 2017.

Time and again, Lincoln National resorted to several initiatives to address diversified financial goals through launching variable universal life (VUL) insurance offerings from the beginning of this year. Concurrent with innovative insurance offerings, there has been an added emphasis to include a long-term care (LTC) rider. The notable VULs launched in this year include Lincoln VUL, Lincoln Survivorship VUL (SVUL) and a VUL insurance policy named MoneyGuard Market Advantage.

Zacks Rank & Price Performance

Shares of this Zacks Rank #2 (Buy) life insurer have surged 64.8% in a year compared with the industry’s growth of 6.4%.

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Other Stocks to Consider

Some other top-ranked stocks in the insurance space include Brighthouse Financial, Inc. (BHF - Free Report) , Primerica, Inc. (PRI - Free Report) and Prudential Financial, Inc. (PRU - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Brighthouse Financial, Primerica and Prudential Financial have a trailing four-quarter earnings surprise of 16.44%, 8.11% and 24.36%, on average, respectively.