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Fixed Indexed Annuity

Lincoln Set 5 II

Lincoln Financial

8.15%

Best Cap

10%

Free W/D

52

Jurisdictions

Product data status: May 29, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Live product data

Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.

S&P 500 annual cap rate

8.15% cap on S&P 500

A five-year-surrender fixed indexed annuity from an A-rated Lincoln Financial carrier, built for index-linked accumulation on a deliberately narrow S&P 500-based strategy menu (cap, trigger, Risk Control variant), with a higher-than-typical trigger floor and no income rider.

1-year termAdvisorWorld + CANNEX data

Best fit

Buyers who want a five-year FIA commitment on a small, recognizable S&P 500 strategy menu with a stronger guaranteed-minimum trigger floor, and do not need a guaranteed lifetime-income rider built into the contract.

AM Best

A Excellent

Surrender period

5 years

Free withdrawal

10%/yr

Availability

52 jurisdictions (excl. New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

8.15% cap rate

S&P 500

S&P 500 Index

7.75% cap rate

Rate varies by premium band.

S&P 500

S&P 500 Index

100% participation rate + 7.35% declared rate

S&P 500

S&P 500 Index

100% participation rate + 6.5% declared rate

S&P 500

S&P 500 Index

100% participation rate + 7% declared rate

Rate varies by premium band.

S&P 500

S&P 500 Index

100% participation rate + 6% declared rate

Rate varies by premium band.

S&P 500

S&P 500 Index

7.25% cap rate

S&P 500

S&P 500 Index

6.25% cap rate

Rate varies by premium band.

Fixed Account

Fixed Account

4.05% declared rate

Fixed Account

Fixed Account

3.1% declared rate

Rate varies by premium band.

+ 4 volatility-controlled index options (S&P 500...)

Product analyst notes

How to think about this contract

Why it can stand out

  • Five-year surrender ladder is at the short end of Lincoln's FIA shelf, so the surrender commitment is markedly shorter than FlexAdvantage's seven-year or OptiBlend's nine-year ladders.
  • Strategy menu is intentionally narrow — S&P 500 cap, S&P 500 fixed-trigger, and an S&P 500 Daily Risk Control strategy plus a fixed account — so a buyer is not asked to evaluate proprietary ETF or sector indexes alongside the core S&P.
  • Guaranteed-minimum declared rate on the trigger strategy floors higher on this filing than on the rest of Lincoln's FIA shelf — a stronger floor for buyers who use the trigger crediting design.
  • Carrier financial strength carries three independent ratings (A.M. Best, S&P, and Moody's), so the strength view does not come from a single agency.

What to confirm

  • Lincoln SET 5 II is not a guaranteed-lifetime-income product. There is no GLWB rider attached, and there is no Protected Income Value chassis — the live feed shows an empty income-rider list. Do not compare its payout side-by-side with a rider-led income FIA.
  • There is no premium bonus on this contract — every dollar of upside has to come from the cap, trigger, and fixed-account strategies themselves.
  • The strategy menu does not include a participation-rate strategy, so buyers who want the higher-participation upside available on other Lincoln FIAs (OptiBlend, FlexAdvantage) should compare those before locking in.
  • The S&P 500 Daily Risk Control strategy uses a volatility-controlled excess-return version of the index, not the spot S&P. Caps and participation rates can also reset down toward the guaranteed-minimum floor across the surrender term. New York buyers should note that this filing is not available in NY.

Not ideal for

Buyers who need a contractually guaranteed GLWB withdrawal rate, want a participation-rate strategy or exposure to ETF/sector indexes, expect a premium bonus, or live in New York.

All crediting strategies

View rate listings (14 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Par: 100% + Fixed: 7.35% · 1-yr

S&P 500 Index

trigger

5-yr surrender$100,000+

Par: 100% + Fixed: 6.5% · 1-yr

S&P 500 Index

Dual Trigger · trigger

5-yr surrender$100,000+

Par: 100% + Fixed: 8.75% · 1-yr

S&P 500 Daily Risk Control 10% USD Excess Return Index

trigger

5-yr surrender$100,000+

Cap: 8.15% · 1-yr

S&P 500 Index

cap

5-yr surrender$100,000+

Fixed: 4.05% · 1-yr

Fixed Account

fixed

5-yr surrender$100,000+

Par: 100% + Fixed: 8% · 5-yr

S&P 500 Daily Risk Control 10% USD Excess Return Index

5 Year Lock · trigger

5-yr surrender$100,000+

Cap: 7.25% · 5-yr

S&P 500 Index

5 Year Lock · cap

5-yr surrender$100,000+

Par: 100% + Fixed: 7% · 1-yr

S&P 500 Index

$100,000+

Par: 100% + Fixed: 6% · 1-yr

S&P 500 Index

Dual Trigger

$100,000+

Par: 100% + Fixed: 8.5% · 1-yr

S&P 500 Daily Risk Control 10% USD Excess Return Index

$100,000+

Cap: 7.75% · 1-yr

S&P 500 Index

$100,000+

Fixed: 3.1% · 1-yr

Fixed Account

$100,000+

Par: 100% + Fixed: 7.5% · 5-yr

S&P 500 Daily Risk Control 10% USD Excess Return Index

5 Year Lock

$100,000+

Cap: 6.25% · 5-yr

S&P 500 Index

5 Year Lock

$100,000+

Income riders

Accumulation-focused — no income rider

This contract is designed for tax-deferred accumulation, not guaranteed lifetime income. No GLWB rider was returned because none is part of the contract design — compare against other accumulation FIAs on cap, participation rate, and surrender terms rather than lifetime income.

Key Features

Free withdrawal

10%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

2

Nursing home waiver, Terminal illness waiver

Death benefit

Standard Death Benefit

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Strategy guarantee

Minimum guaranteed cap: 1.00%

Strategy guarantee

Minimum guaranteed declared rate: 2.00%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 1.00%

Annuitization options

Single life

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 1

8%

Yr 2

6.4%

Yr 3

4.8%

Yr 4

3.2%

Yr 5

1.6%

After

0%

Nursing home waiver, Terminal illness waiver, Surrender waivers

Documents

brochure

Lincoln Set 5 II brochure pdf.pdf

Confidence: highReviewed Apr 15, 2026

Direct link not published — request the document from the carrier.

Carrier Ratings

AM BestA
S&PA+
Moody'sA2
S&PA+

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

Lincoln Set 5 II currently shows 9 distinct indexed or fixed crediting choices across 14 current rate listings, including S&P 500 Index and S&P 500 Daily Risk Control 10% USD Excess Return Index. These choices matter because caps, participation rates, fixed accounts, spreads, and renewal terms are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 8.15% cap
  • S&P 500 Index: 7.75% cap
  • S&P 500 Index: 100% participation

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 10%/yr free withdrawal
  • 5 surrender years
  • Nursing home waiver
  • Terminal illness waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

Carrier materials such as Lincoln Set 5 II brochure pdf.pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 24, 2026. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

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