This excerpt taken from the LNC 10-K filed Mar 1, 2007.
The Group Protection segment offers group non-medical insurance products, principally term life, disability and dental, to the employer marketplace through various forms of contributory and noncontributory plans. This segment also offers a specialty, non-core product called Exec-U-Care®, which is an insured medical expense reimbursement vehicle for executives that covers eligible health plan costs not covered by their base health plans. A discontinuation of Exec-U-Care® would have a significant impact on segment revenues, but only a limited effect on reportable segment income from operations. Most of the segments group contracts are sold to employers with fewer than 500 employees.
The Group Protection segment was added as a result of the merger with Jefferson-Pilot and was previously known as Benefit Partners. Accordingly, the product line data for this segment provided in the following table are given for the nine months ended December 31, 2006.
Group Life Insurance
We offer employer-sponsored group term life insurance products including basic, optional and voluntary term life insurance to employees and their dependents. Additional benefits may be provided in the event of a covered individuals accidental death or dismemberment (AD&D coverage).
Group Disability Insurance
We offer short- and long-term employer-sponsored group disability insurance, which protects an employee against loss of wages due to illness or injury. Short-term disability generally provides benefits for up to 26 weeks following a short waiting period, ranging from one to 30 days. Long-term disability provides benefits following a longer waiting period, usually between 30 and 180 days and provides benefits for a longer period, at least two years and typically extending to normal (Social Security) retirement age.
We offer employer-sponsored group dental insurance, which covers a portion of the cost of eligible dental procedures for employees and their dependents. Products offered include indemnity coverage, which does not distinguish benefits based on a dental providers participation in a network arrangement, and a Preferred Provider Organization (PPO) product that does reflect the dental providers participation in the PPO network arrangement, including agreement with network fee schedules.
This excerpt taken from the LNC 10-K filed Mar 11, 2005.
The Investment Management segment, with principal operations in Philadelphia, Pennsylvania, provides investment products and services to both individual and institutional investors through Delaware Management Holdings, Inc. and its affiliates, also referred to as Delaware. Delaware offers a broad line of mutual funds, retirement plan services and other investment products, including managed accounts and 529 college savings plans for Hawaii and Pennsylvania, to retail investors.
Delaware also offers investment advisory services and products to institutional clients, which primarily include public and private pension and retirement funds, foundations, endowment funds and trusts, and may include mutual funds offered by non-Delaware entities for which Delaware acts as a sub-advisor. At December 31, 2004, Delaware serves as investment advisor to approximately 200 institutional accounts, acts as investment manager and performs additional services for approximately 92 open-end funds and for 10 closed-end funds. The Investment Management segment also provides investment advisory services for our corporate and general insurance portfolios, including separate accounts and mutual funds, and acts as investment advisor to collateralized debt obligations.