A new partnership between Lincoln Financial Group and Humana Inc. will make it easier for consumers to purchase fixed indexed annuities and long term care insurance. According to Annuity News Journal’s article “Humana Inc. Forms Partnership with Lincoln Financial,” Henry Steelman writes that more than 2000 agents for Humana will be selling the financial products of Lincoln. Humana Inc. is a health insurance company out of Kentucky, selling policies to consumers nationwide. Lincoln Financial, out of Pennsysylvania, offers many different financial services around the United States. This partnership between the two companies allows consumers nearing retirement to purchase all of their necessities in one convenient place. They’ll be able to get health insurance as well as financial planning products from the same agent.
Lincoln Financial, traded on the NYSE as Lincoln National Corp., offers numerous annuities and insurance products to their consumers. The financial products that will be sold through Humana are fixed indexed annuities and MoneyGuard, a form of long term care insurance. As the cost for long term care increases dramatically, insurance to protect against that expense becomes more important than ever. Between long term care insurance and annuities to cover basic living expenses in retirement, Humana believes that they are offering their consumers important products to complement their health insurance. They don’t think there is much more important than protecting yourself with health insurance and the proper finances to carry you through life. Since many consumers don’t have a financial advisor, having these products available through their health insurance company allows consumers access to financial products they may not have seen before.