Market Summary
USD24.72-0.17
Market Closedas of 26 Sep 2023, 09:44 am-0.68%
LNC Stock Price
LNC RSI Chart
LNC Valuation
LNC Price/Sales (Trailing)
LNC Profitability
LNC Fundamentals
LNC Revenue
LNC Earnings
Price Action
52 Week Range
18.5052.67
(Low)(High)
Last 7 days
-4.2%
Last 30 days
-2.3%
Last 90 days
0.4%
Trailing 12 Months
-41.7%
LNC Financial Health
LNC Investor Care
Historical Charts for Stock Metrics
Get all data in R, Python etc through our Historical Stock Data APIs
Net sales
Get all data in R, Python etc through our Historical Stock Data APIs
Latest Insider Trading transactions for LNC
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-08-10 | Reid James Waltman | sold (taxes) | -71,405 | 26.31 | -2,714 | evp workplace solutions |
2023-08-10 | Grove Matthew | sold (taxes) | -231,186 | 26.31 | -8,787 | evp retail solutions |
2023-08-09 | Neczypor Christopher M | acquired | - | - | 4,930 | evp & cfo |
2023-05-24 | Rallis Andrew | acquired | - | - | 94,795 | evp, chief risk officer |
2023-05-24 | Woodroffe Sean | acquired | - | - | 246,239 | evp, ch ppl culture comms offf |
2023-05-24 | Kennedy John Christopher | acquired | - | - | 47,327 | evp, president lfd |
2023-05-11 | KELLY GARY C | bought | 200,025 | 25.52 | 7,837 | - |
2023-02-23 | Solon Kenneth S. | sold | -98,937 | 32.08 | -3,084 | evp & chief information ofc. |
2023-02-19 | Krow Jennifer Warne | sold (taxes) | -18,736 | 33.82 | -554 | evp, chief people officer |
2023-02-19 | Bronchetti Jayson R | sold (taxes) | -20,393 | 33.82 | -603 | evp, chief investment officer |
Which funds bought or sold LNC recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-21 | Baystate Wealth Management LLC | unchanged | - | 24.00 | 168 | -% |
2023-09-20 | BARCLAYS PLC | reduced | -57.26 | -24,991,000 | 24,009,000 | 0.01% |
2023-09-19 | BIRMINGHAM CAPITAL MANAGEMENT CO INC/AL | added | 8.67 | 191,114 | 968,576 | 0.41% |
2023-09-12 | Farther Finance Advisors, LLC | added | 16.93 | 6,236 | 24,549 | -% |
2023-08-30 | CHAPIN DAVIS, INC. | unchanged | - | 36,453 | 285,421 | 0.14% |
2023-08-28 | DT Investment Partners, LLC | unchanged | - | 13,180 | 56,540 | 0.01% |
2023-08-25 | EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC | reduced | -0.16 | 51,000 | 404,000 | 0.06% |
2023-08-24 | Harvest Investment Advisors, LLC | sold off | -100 | -663,517 | - | -% |
2023-08-23 | WOLVERINE TRADING, LLC | reduced | -62.96 | -536,166 | 408,834 | -% |
2023-08-22 | Old North State Trust, LLC | sold off | -100 | -88,000 | - | -% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
Schedule 13G FIlings of Lincoln National
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 09, 2023 | vanguard group inc | 11.86% | 20,068,955 | SC 13G/A | |
| Feb 06, 2023 | state street corp | 5.61% | 9,487,042 | SC 13G | |
| Feb 03, 2023 | blackrock inc. | 8.2% | 13,817,891 | SC 13G/A | |
| Jan 11, 2023 | hagan dan | 0.0% | 0 | SC 13G/A | |
| Feb 10, 2022 | vanguard group inc | 11.32% | 20,457,515 | SC 13G/A | |
| Feb 01, 2022 | blackrock inc. | 7.8% | 14,030,749 | SC 13G/A | |
| Jan 26, 2022 | hagan dan | 8.3% | 1.5e+07 | SC 13G/A | |
| Feb 10, 2021 | vanguard group inc | 10.36% | 20,020,255 | SC 13G/A | |
| Jan 29, 2021 | blackrock inc. | 7.8% | 15,061,919 | SC 13G/A | |
| Jun 15, 2020 | hagan dan | 5.2% | 1e+07 | SC 13G |
Recent SEC filings of Lincoln National
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Sep 14, 2023 | 3 | Insider Trading | |
| Sep 11, 2023 | 8-K | Current Report | |
| Aug 11, 2023 | 4 | Insider Trading | |
| Aug 11, 2023 | 4 | Insider Trading | |
| Aug 11, 2023 | 4 | Insider Trading | |
| Aug 07, 2023 | 13F-HR | Fund Holdings Report | |
| Aug 03, 2023 | 10-Q | Quarterly Report | |
| Aug 02, 2023 | 8-K | Current Report | |
| Jul 05, 2023 | 4 | Insider Trading | |
| Jul 05, 2023 | 4 | Insider Trading |
Peers (Alternatives to Lincoln National)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
MET | 49.3B | 69.5B | 4.23% | 5.87% | 22.14 | 0.7 | 4.01% | -58.32% |
PRU | 38.7B | 63.9B | 3.54% | 10.69% | 125.56 | 0.61 | 4.97% | -6.22% |
TRV | 38.4B | 37.8B | 3.84% | 9.06% | 17.2 | 0.99 | 8.33% | -37.32% |
RE | 25.2B | 12.4B | 0.67% | 24.34% | 20.79 | 1.9 | 12.64% | 55.58% |
GL | 11.7B | 5.2B | -0.31% | 11.18% | 17.54 | 2.22 | 1.78% | -46.10% |
ATH | - | 12.0B | - | - | - | - | 34.59% | 179.04% |
| MID-CAP | ||||||||
PRI | 7.2B | 2.7B | -0.30% | 61.74% | 15.81 | 2.62 | -1.39% | 16.12% |
LNC | 4.2B | 17.9B | -2.32% | -41.67% | -3.17 | 0.28 | -26.53% | -139.84% |
AEL | 4.2B | 1.9B | 0.39% | 50.54% | 3.52 | 1.58 | 38.34% | -32.53% |
BHF | 3.3B | 5.4B | 2.88% | 10.52% | 2.05 | 1.73 | -77.15% | -71.29% |
GNW | 2.8B | 7.5B | 5.23% | 68.72% | 5.24 | 0.38 | -1.40% | -38.58% |
| SMALL-CAP | ||||||||
VERY | 91.9M | 169.0M | 10.36% | -17.43% | -7.44 | 0.54 | -0.92% | 29.17% |
AAME | 39.6M | - | -3.00% | -34.24% | 59.97 | 0.21 | -4.23% | -77.34% |
Lincoln National News
Returns for LNC
Cumulative Returns on LNC
-2.7%
10-Year Cumulative Returns
-5.5%
7-Year Cumulative Returns
-15.4%
5-Year Cumulative Returns
-3.3%
3-Year Cumulative Returns
Risks for LNC
What is the probability of a big loss on LNC?
85.4%
Probability that Lincoln National stock will be more than 20% underwater in next one year
61.9%
Probability that Lincoln National stock will be more than 30% underwater in next one year.
41.9%
Probability that Lincoln National stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does LNC drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Lincoln National was unfortunately bought at previous high price.
Drawdowns
Financials for Lincoln National
Income Statement (Last 12 Months)
| Income Statement (Last 12 Months) | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Revenue | -14.8% | 15,256,000,000 | 17,904,000,000 | 18,810,000,000 | 20,198,000,000 | 20,764,000,000 | 20,049,000,000 | 19,862,000,000 | 18,768,000,000 | 18,891,000,000 | 17,546,000,000 | 17,438,000,000 | 17,647,000,000 | 16,924,000,000 | 17,717,000,000 | 17,257,000,000 | 17,444,000,000 | 17,070,000,000 | 16,780,000,000 | 16,424,000,000 | 15,562,000,000 | 14,809,000,000 |
| S&GA Expenses | - | - | - | 2,240,000,000 | - | - | - | 2,252,000,000 | - | - | - | 2,072,000,000 | - | - | - | 2,210,000,000 | - | - | - | 1,953,000,000 | - | - |
| EBITDA | 100.0% | - | -3,777,000,000 | -789,000,000 | -2,269,000,000 | 1,238,000,000 | 1,738,000,000 | 1,908,000,000 | 1,760,000,000 | 1,845,000,000 | 931,000,000 | 707,000,000 | 1,104,000,000 | 441,000,000 | 1,009,000,000 | 1,245,000,000 | - | - | - | - | - | - |
| EBITDA Margin | 100.0% | - | -0.21 | -0.04 | -0.12 | 0.17 | 0.09 | 0.10 | 0.09 | 0.10 | 0.05 | 0.04 | 0.06 | 0.03 | 0.06 | 0.07 | - | - | - | - | - | - |
| Interest Expenses | 5.3% | 316,000,000 | 300,000,000 | 283,000,000 | 272,000,000 | 274,000,000 | 271,000,000 | 270,000,000 | 269,000,000 | 262,000,000 | 281,000,000 | 284,000,000 | 290,000,000 | 337,000,000 | 323,000,000 | 326,000,000 | 323,000,000 | 279,000,000 | 277,000,000 | 297,000,000 | 291,000,000 | 285,000,000 |
| Earnings Before Taxes | -13.0% | -3,732,000,000 | -3,302,000,000 | -297,000,000 | 573,000,000 | 4,087,000,000 | 3,831,000,000 | 2,250,000,000 | 1,485,000,000 | 1,579,000,000 | 642,000,000 | 423,000,000 | 814,000,000 | 104,000,000 | 686,000,000 | 919,000,000 | 906,000,000 | 1,688,000,000 | 1,718,000,000 | 1,885,000,000 | 1,030,000,000 | 1,008,000,000 |
| EBT Margin | 100.0% | - | -0.23 | -0.06 | -0.13 | 0.13 | 0.08 | 0.09 | 0.08 | 0.08 | 0.04 | 0.02 | 0.05 | 0.01 | 0.04 | 0.05 | - | - | - | - | - | - |
| Net Income | -32.8% | -1,333,000,000 | -1,004,000,000 | 1,359,000,000 | 1,255,000,000 | 3,346,000,000 | 3,151,000,000 | 1,888,000,000 | 1,323,000,000 | 1,405,000,000 | 666,000,000 | 499,000,000 | 787,000,000 | 228,000,000 | 685,000,000 | 885,000,000 | 853,000,000 | 1,504,000,000 | 1,526,000,000 | 1,641,000,000 | 2,058,000,000 | 1,986,000,000 |
| Net Income Margin | 100.0% | - | -0.06 | 0.07 | -0.10 | 0.12 | 0.07 | 0.07 | 0.07 | 0.07 | 0.04 | 0.03 | 0.04 | 0.01 | 0.04 | 0.05 | - | - | - | - | - | - |
| Free Cashflow | -100.0% | - | 2,359,000,000 | 3,609,000,000 | 3,437,000,000 | 3,090,000,000 | 1,546,000,000 | 151,000,000 | 301,000,000 | -668,000,000 | -563,000,000 | 534,000,000 | 512,000,000 | 847,000,000 | -900,000,000 | -2,686,000,000 | - | - | - | - | - | - |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | 1.6% | 348,612 | 343,142 | 334,217 | 324,174 | 335,346 | 365,538 | 394,750 | 376,896 | 379,878 | 366,573 | 365,948 | 347,804 | 339,659 | 318,649 | 334,761 | 325,278 | 322,259 | 314,299 | 298,147 | 303,850 | 298,832 |
| Cash Equivalents | 0.1% | 3,768 | 3,766 | 3,343 | 1,472 | 1,567 | 1,960 | 2,612 | 2,614 | 2,389 | 1,350 | 1,708 | 2,595 | 4,201 | 6,202 | 2,563 | 2,939 | 3,314 | 1,593 | 2,345 | 1,460 | 1,775 |
| Goodwill | 0% | 1,144 | 1,144 | 1,144 | 1,144 | 1,778 | 1,778 | 1,778 | 1,778 | 1,778 | 1,778 | 1,778 | 1,778 | 1,778 | 1,778 | 1,778 | 1,778 | 1,778 | 1,778 | 1,782 | 1,757 | 1,750 |
| Liabilities | 1.9% | 342,793 | 336,410 | 329,115 | 321,506 | 325,692 | 350,354 | 374,835 | 355,731 | 358,136 | 346,986 | 343,249 | 326,255 | 318,928 | 302,074 | 315,072 | 305,279 | 303,804 | 297,882 | 283,797 | 288,780 | 283,655 |
| Shareholder's Equity | -13.6% | 5,819 | 6,732 | 5,102 | 2,668 | 9,331 | 14,255 | 19,915 | 21,165 | 21,742 | 19,587 | 22,699 | 21,549 | 20,731 | 16,575 | 19,689 | 19,999 | 18,455 | 16,417 | 14,350 | 15,070 | 15,177 |
| Retained Earnings | 8.5% | 5,362 | 4,940 | 5,924 | 6,762 | 9,445 | 9,346 | 5,196 | 9,360 | 9,242 | 8,769 | 8,686 | 8,647 | 8,327 | 8,500 | 8,854 | 8,559 | 8,878 | 8,679 | 8,551 | 8,615 | 8,302 |
| Shares Outstanding | 0.1% | 170 | 170 | 169 | 169 | 170 | 172 | 177 | 186 | 189 | 191 | 192 | 193 | 193 | 193 | 197 | 198 | 201 | 203 | 206 | 215 | 217 |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | -57.9% | 992 | 2,359 | 3,609 | 3,048 | 2,361 | 882 | -217 | 318 | -650 | -544 | 534 | 512 | 847 | -900 | -2,686 | -1,948 | -1,251 | 472 | 1,943 | 1,213 | 1,218 |
| Cashflow From Investing | 38.2% | -6,080 | -9,831 | -11,646 | -10,994 | -8,796 | -4,993 | -3,584 | -5,489 | -7,653 | -10,954 | -9,481 | -9,659 | -8,804 | -3,624 | -5,499 | -3,860 | -3,501 | -6,353 | -5,815 | -5,644 | -4,557 |
| Cashflow From Financing | -21.4% | 7,289 | 9,278 | 8,768 | 6,804 | 5,613 | 4,721 | 4,705 | 5,190 | 6,491 | 6,646 | 8,092 | 8,803 | 8,844 | 9,133 | 8,403 | 7,287 | 6,291 | 5,217 | 4,589 | 3,926 | 3,136 |
| Dividend Payments | -0.6% | 306 | 308 | 310 | 312 | 315 | 318 | 319 | 319 | 316 | 312 | 311 | 309 | 306 | 305 | 303 | 299 | 297 | 294 | 289 | 281 | 275 |
| Buy Backs | - | - | - | 550 | 1,200 | 1,350 | 1,400 | 1,105 | 505 | 305 | 155 | 275 | 325 | 475 | 625 | 550 | 1,075 | 1,100 | 1,267 | 900 | 600 | 650 |
LNC Income Statement
2023-06-30Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
| Revenues | ||||
| Insurance premiums | $ 1,612 | $ 1,498 | $ 3,191 | $ 2,975 |
| Fee income | 1,365 | 1,409 | 2,744 | 2,867 |
| Net investment income | 1,508 | 1,398 | 2,974 | 2,809 |
| Realized gain (loss) | (1,784) | 1,101 | (2,612) | 1,282 |
| Amortization of deferred gain on business sold through reinsurance | 9 | 11 | 19 | 22 |
| Other revenues | 219 | 160 | 427 | 342 |
| Total revenues | 2,929 | 5,577 | 6,743 | 10,297 |
| Expenses | ||||
| Benefits | 2,192 | 1,954 | 4,483 | 4,110 |
| Interest credited | 808 | 710 | 1,593 | 1,407 |
| Market risk benefit (gain) loss | (2,023) | 477 | (1,404) | (881) |
| Policyholder liability remeasurement (gain) loss | (110) | 85 | (228) | 126 |
| Commissions and other expenses | 1,335 | 1,207 | 2,637 | 2,460 |
| Interest and debt expense | 84 | 68 | 166 | 134 |
| Spark program expense | 41 | 44 | 64 | 75 |
| Total expenses | 2,327 | 4,545 | 7,311 | 7,431 |
| Income (loss) before taxes | 602 | 1,032 | (568) | 2,866 |
| Federal income tax expense (benefit) | 91 | 192 | (198) | 545 |
| Net income (loss) | 511 | 840 | (370) | 2,321 |
| Other comprehensive income (loss), net of tax: | ||||
| Unrealized investment gain (loss) | (513) | (6,655) | 1,261 | (14,153) |
| Market risk benefit non-performance risk gain (loss) | (924) | 354 | 101 | 374 |
| Policyholder liability discount rate remeasurement gain (loss) | 112 | 710 | (90) | 1,521 |
| Foreign currency translation adjustment | 5 | (14) | 8 | (19) |
| Funded status of employee benefit plans | (30) | 10 | (32) | 13 |
| Total other comprehensive income (loss), net of tax | (1,350) | (5,595) | 1,248 | (12,264) |
| Comprehensive income (loss) | (839) | (4,755) | 878 | (9,943) |
| Net Income (Loss) Available to Common Stockholders | ||||
| Net income (loss) | 511 | 840 | (370) | 2,321 |
| Preferred stock dividends declared | (11) | (36) | ||
| Deferred units of LNC stock in our deferred compensation plans | 2 | (7) | (2) | (7) |
| Net income (loss) available to common stockholders | $ 502 | $ 833 | $ (408) | $ 2,314 |
| Net Income (Loss) Per Common Share | ||||
| Basic (in dollars per share) | $ 2.95 | $ 4.91 | $ (2.40) | $ 13.44 |
| Diluted (in dollars per share) | 2.94 | 4.83 | (2.41) | 13.25 |
| Cash Dividends Declared Per Preferred Share | 562.50 | 1,817.19 | ||
| Cash Dividends Declared Per Common Share | 0.45 | 0.45 | 0.90 | 0.90 |
| Series C Preferred Stock [Member] | ||||
| Net Income (Loss) Per Common Share | ||||
| Cash Dividends Declared Per Preferred Share | 635.94 | |||
| Series D Preferred Stock [Member] | ||||
| Net Income (Loss) Per Common Share | ||||
| Cash Dividends Declared Per Preferred Share | $ 562.50 | $ 1,181.25 | ||
LNC Balance Sheet
2023-06-30Consolidated Balance Sheets - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
|---|---|---|
| Investments: | ||
| Fixed maturity available-for-sale securities, at fair value (amortized cost: 2023 - $111,354; 2022 - $111,707; allowance for credit losses: 2023 - $25; 2022 - $22) | $ 100,890 | $ 99,736 |
| Trading securities | 2,943 | 3,498 |
| Equity securities | 403 | 427 |
| Mortgage loans on real estate, net of allowance for credit losses (portion at fair value: 2023 - $404; 2022 - $487) | 18,460 | 18,301 |
| Policy loans | 2,423 | 2,359 |
| Derivative investments | 5,155 | 3,594 |
| Other investments | 4,195 | 3,739 |
| Total investments | 134,469 | 131,654 |
| Cash and invested cash | 3,768 | 3,343 |
| Deferred acquisition costs, value of business acquired and deferred sales inducements | 12,316 | 12,235 |
| Reinsurance recoverables, net of allowance for credit losses | 19,030 | 19,443 |
| Market risk benefit assets | 3,906 | 2,807 |
| Accrued investment income | 1,277 | 1,253 |
| Goodwill | 1,144 | 1,144 |
| Other assets | 19,456 | 18,802 |
| Separate account assets | 153,246 | 143,536 |
| Total assets | 348,612 | 334,217 |
| Liabilities | ||
| Policyholder account balances | 117,598 | 114,435 |
| Future contract benefits | 39,711 | 38,826 |
| Market risk benefit liabilities | 1,548 | 2,078 |
| Deferred front-end loads | 5,450 | 5,052 |
| Payables for collateral on investments | 7,062 | 6,712 |
| Short-term debt | 500 | 500 |
| Long-term debt | 5,954 | 5,955 |
| Other liabilities | 11,724 | 12,021 |
| Separate account liabilities | 153,246 | 143,536 |
| Total liabilities | 342,793 | 329,115 |
| Contingencies and Commitments (See Note 14) | ||
| Stockholders' Equity | ||
| Common stock – 800,000,000 shares authorized; 169,630,880 and 169,220,511 shares issued and outstanding as of June 30, 2023, and December 31, 2022, respectively | 4,575 | 4,544 |
| Retained earnings | 5,362 | 5,924 |
| Accumulated other comprehensive income (loss) | (5,104) | (6,352) |
| Total stockholders' equity | 5,819 | 5,102 |
| Total liabilities and stockholders' equity | 348,612 | 334,217 |
| Series C Preferred Stock [Member] | ||
| Stockholders' Equity | ||
| Preferred stock - 10,000,000 shares authorized | 493 | 493 |
| Series D Preferred Stock [Member] | ||
| Stockholders' Equity | ||
| Preferred stock - 10,000,000 shares authorized | $ 493 | $ 493 |
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities. The Retirement Plan Services segment provides employers with retirement plan products and services primarily in the defined contribution retirement plan marketplace. This segment offers individual and group variable annuities, group fixed annuities, and mutual fund-based programs; and a range of plan services, including plan recordkeeping, compliance testing, participant education, and trust and custodial services. The Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders. The Group Protection segment offers group non-medical insurance products comprising short and long-term disability, statutory disability and paid family medical leave administration and absence management services, term life, dental, vision and accident, and critical illness benefits and services to the employer marketplace through various forms of employee-paid and employer-paid plans. The company distributes its products through consultants, brokers, planners, agents, financial advisors, third-party administrators, and other intermediaries. Lincoln National Corporation was founded in 1905 and is based in Radnor, Pennsylvania.