Lincoln National Corporation ( LNC Quick Quote LNC - Free Report) announced the launch of a retirement plan participant website to aid participants with their retirement income planning. The new mobile-adaptive layout offers a seamless digital experience, allowing transparency to individuals keen on planning their retirement income goals. People can now access ample information and streamlined plan transactions to meet the evolving needs of the market. Per Lincoln National’s 2021 Retirement Power study, around eight of 10 U.S. workers gave retirement and finance plans a serious thought due to the COVID-19 pandemic. The pandemic took a toll on personal finances and made people think about their career and savings as well as retirement plans. This new feature provides a perfect set of digital tools and functionality, motivating participants to keep track of their accounts and take necessary actions. Some new participant site features are a digital calculator allowing individuals to project their retirement income, easy-to-understand investment graphs to show where their money is going, etc. Another feature is My Next Steps that tell participants about the moves they need to make for better retirement readiness. Per a study, 90% of full-time U.S. employees said that balancing finance is one of the major causes of their stress. This new initiative allows access to financial wellness tools that will help participants in more ways than one. This is not the first time that the currently Zacks Rank #3 (Hold) player took initiatives to fulfill retirement requirements. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Last year, LNC Launched Advisor Managed Accounts, a solution complementing its existing portfolio of custom asset allocation products. It also introduced a defined contribution solution named Income America 5ForLife to deliver a guaranteed monthly retirement income to its plan participants. Moreover, Lincoln National launched several retirement solutions in 2020, ranging from the next-generation Lincoln AssetEdge Variable Universal Life (VUL) to a Multi-Manager solution to assist small business owners in making crucial investment and retirement decisions. Apart from helping retirement plan participants attain their retirement goals, LNC is likely to boost its operational efficiency with back-to-back unveiling of solutions. These endeavors are ramped up further amid the ongoing COVID-19 pandemic that induced financial insecurities worldwide. Markets have remained volatile since the onset of the outbreak, which heightened the need to offer protection to the savings of Americans. Also, an aging U.S. population and the increased number of people reaching the retirement age stress the urgency for enhanced retirement plans. Moreover, LNC’s strong life business, the resurging Group Protection segment and acquisitions should drive growth. Price Performance
Shares of Lincoln National have surged 41.2% in a year against the
industry’s decline of 7.6%. Image Source: Zacks Investment Research Stocks to Consider
Some better ranked stocks in the insurance space are
Fidelity National Financial Group, Inc. ( FNF Quick Quote FNF - Free Report) , Berkshire Hathaway ( BRK.B Quick Quote BRK.B - Free Report) and Hallmark Financial Services ( HALL Quick Quote HALL - Free Report) . Fidelity National is one of the nation's largest title insurance companies through its title insurance underwriters. FNT managed to deliver a trailing four-quarter surprise of 38.2%, on average. Berkshire Hathaway owns more than 90 subsidiaries in insurance, rail roads, utilities, manufacturing services, retail and home building. BRK.B’s earnings managed to beat estimates in two of its trailing four quarters (missing the mark in the other two), the average beat being 5.5%. Hallmark Financial and its wholly owned subsidiaries engage in the sale of property and casualty insurance products. HALL’s bottom line managed to beat estimates in two of the trailing four quarters (missing the mark in the other two), the average beat being 53.6%. Shares of FNF, HALL and BRK.B have gained 36.1%, 33.8% and 37.1% in the past year, respectively.