Lincoln National Corporation : May 29, 2012: Lincoln Financial Group Announces New York Availability of Lincoln LifeReserve® Indexed UL Accumulator

Lincoln Financial Group Announces New York Availability of Lincoln LifeReserve® Indexed UL Accumulator
Lincoln LifeReserve® IUL Accumulator offers New York consumers death benefit protection with asset accumulation potential and distribution options.

Radnor, PA, May 29, 2012 - Lincoln Financial Group (NYSE:LNC) today announced that the Lincoln LifeReserve® Indexed UL (IUL) Accumulator life product is now available in the state of New York. Issued by Lincoln Life & Annuity Company of New York, Syracuse, NY, Lincoln LifeReserve® IUL Accumulator is designed to provide the protection of life insurance with the opportunity to build cash value that can provide tax-advantaged income to supplement retirement or for expenses such as college tuition.

Lincoln LifeReserve® IUL Accumulator policy holders can allocate their premium between three indexed accounts, which offer potential account value gains based on S&P 500 Index® performance. If the S&P 500 Index® value increases over a specific period of time, the account is credited positive interest based on the crediting method chosen.

Regardless of market fluctuations, the account will never be credited less than a one percent guaranteed rate, providing downside protection. Policy holders can also select a fixed account option offering a set interest rate for one year. Premiums can be allocated to a single account, or spread across the four account options based on risk/reward objectives.

"As the industry's leading provider of Universal Life products, Lincoln is excited to bring Lincoln LifeReserve® Indexed UL Accumulator to New York, and provide consumers of the state with a solution offering the potential to strengthen income while protecting beneficiaries," said Michael Parker, vice president, Life Product Management, Lincoln Financial Group. "With this product, clients get the protection of a death benefit, while also having the opportunity to accumulate assets that can be utilized for the financial necessities that we encounter in the various stages of life."

With Lincoln LifeReserve® IUL Accumulator, policy holders can take loans from the account as a source of income1. Policy holders can borrow up to 100 percent of the cash surrender value at any time during the life of the policy. With the product's "participating" loan feature, all borrowed and unborrowed policy value continues to earn interest. The loan also offers a guaranteed loan interest charged rate.

Lincoln LifeReserve® IUL Accumulator also offers the following features in New York:

• Competitive rates, streamlined forms and pre-set illustration software options to enhance the buyer and advisor experience
• A 12.5 percent cap on the one-year point-to-point indexed account
• A 10-year no-lapse guarantee as long as the cumulative premium requirement is met
• An optional Terminal Illness rider 2

Lincoln LifeReserve® Indexed UL Accumulator is immediately available in New York through Lincoln's network of distribution partners.

Disclosure Policies sold in New York are issued on policy form UL5062N by Lincoln Life & Annuity Company of New York, Syracuse, NY, and distributed by Lincoln Financial Distributors, Inc., a broker/dealer.

All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. They are not backed by the broker/dealer and/or insurance agency selling the policy, or any affiliates of those entities other than the issuing company affiliates, and none make any representations or guarantees regarding the claims-paying ability of the issuer.

The S&P 500 Index is a price index and does not reflect dividends paid on the underlying stocks. It is not possible to invest directly in an index. "Standard & Poor's®", "S&P®", "S&P 500®", "Standard & Poor's 500", and "500" are trademarks of Standard & Poor's Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc. and have been licensed for use by Lincoln Variable Insurance Products Trust and its affiliates. The product is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of purchasing the product.

1. Loans and withdrawals reduce the policy's cash surrender value and death benefit, may cause the policy to lapse, and may have tax implications. While interest accounts are protected by a 1% guaranteed minimum interest rate, policy charges remain in effect and could reduce the policy value.
2. Additional cost applies if Rider is exercised.

About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $170 billion as of March 31, 2012. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life, disability and dental insurance; 401(k) and 403(b) plans; savings plans; and comprehensive financial planning and advisory services. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.

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