The Tennessee Participation Agreement is a legal contract entered into between Variable Insurance Products Fund, III (VIP Fund), a financial institution offering investment products, and Lincoln Life and Annuity Company of New York (Lincoln), a subsidiary of Lincoln Financial Group specializing in life insurance and annuities. This agreement outlines the terms and conditions under which Lincoln will participate in the VIP Fund's investment programs and allow its policyholders to invest in various investment options offered by the VIP Fund. It serves as a framework to define the responsibilities, rights, and obligations of both parties involved, ensuring a transparent and mutually beneficial relationship. The Tennessee Participation Agreement covers multiple types of participation agreements between VIP Fund and Lincoln. Some of these may include: 1. General Participation Agreement: This type of agreement encompasses a broad range of investment options and strategies provided by the VIP Fund to Lincoln's policyholders. It lays out the terms regarding investment allocations, investment management fees, reporting requirements, and the process for redeeming or transferring investments. 2. Fixed Income Participation Agreement: This agreement specifically focuses on fixed-income investment options offered by the VIP Fund to Lincoln's policyholders. It may detail the minimum investment amounts, expected returns, and other specific provisions related to fixed-income investments. 3. Equity Participation Agreement: This participation agreement revolves around equity investment options provided by the VIP Fund. It could highlight the different types of equity investments available, such as domestic or international stocks, and the associated risks, fees, and potential returns. 4. Alternative Investment Participation Agreement: This type of agreement deals with alternative investment options offered by the VIP Fund, such as hedge funds, private equity, or real estate investment trusts (Rests). It may outline the unique characteristics, risk profiles, and potential benefits of these alternative investments. The Tennessee Participation Agreement ensures that both VIP Fund and Lincoln comply with all applicable laws and regulations related to insurance, securities, and investments in the state of Tennessee. It may mandate regular reporting, disclosure of investment-related information, and the establishment of appropriate grievance handling mechanisms. By establishing a clear framework, the Tennessee Participation Agreement enhances investor protection and promotes transparency and fairness in the investment process. It mitigates potential conflicts of interest and sets forth mechanisms for resolving disputes that may arise between the parties. In conclusion, the Tennessee Participation Agreement between Variable Insurance Products Fund, III, and Lincoln Life and Annuity Company of New York is a crucial legal instrument that outlines the terms, conditions, and responsibilities involved in their collaborations regarding investment options. It encompasses various types of participation agreements, ensuring appropriate investment opportunities for policyholders while upholding regulatory compliance.
Tennessee Participation Agreement between Variable Insurance Products Fund, III, Lincoln Life and Annuity Company of New York
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FAQ
Lincoln Level Advantage® indexed-linked variable annuity is a long-term investment product designed for retirement purposes. There are no explicit fees associated with the indexed-linked account options available.
Variable annuities are essentially an insurance contract combined with an investment product. Through a professionally managed "subaccount" (similar to a mutual fund portfolio) within your variable annuity, you invest in stocks, bonds or money market funds or a combination thereof.
Lincoln Level Advantage® indexed variable annuity is a long-term investment product designed for retirement purposes. There are no explicit fees associated with the indexed-linked account options available.
Lincoln Financial Group - Lincoln National is rated ?A? by A.M. Best, was founded in 1905, and has over $123 billion in total assets.
Index variable annuities are designed to help you accumulate assets for retirement and provide some protection for a portion of your retirement assets. An index variable annuity may be a good choice if you're willing to take on some level of risk with the opportunity to grow your assets.
While all annuities are regulated by state insurance commissioners, variable annuities and RILAs are securities and therefore are also regulated by the SEC and FINRA. Annuities are often products investors consider when they plan for retirement. They're often marketed as tax-deferred savings products.