ChoicePlus Fusion (Edward Jones) review

It depends on what the buyer is trying to do. For someone who wants market-linked growth, a low-friction exit structure, and the option to layer on guaranteed income later, it is a reasonable product. For someone primarily focused on accumulation efficiency, the fee load relative to a simple brokerage account or lower-cost VA is a real conversation to have. For a buyer at Edward Jones who wants insurance guarantees alongside market exposure, it does what it is designed to do.

The main reason to buy ChoicePlus Fusion is the combination of market participation and optional income guarantee inside one contract, with the added benefit of not being locked in for years. The 1-year surrender period means a buyer can access money after the first year without a meaningful charge — which is unusual for a variable annuity with income rider functionality. The 7% simple rollup on the GLWB benefit base over 10 years adds tangible value for someone several years from needing income.

I think ChoicePlus Fusion is best suited for a buyer in their mid-50s to early 60s at Edward Jones who wants to stay invested in the market, values the option to turn on guaranteed lifetime income later, and wants to retain access to their money without a multi-year penalty structure. It is less ideal for someone whose primary goal is pure accumulation efficiency, since the fee drag is meaningful over a long horizon. It is also less ideal for someone who needs immediate income, since this product is built around the future income deferral model.

You are buying a tax-deferred market investment wrapper with optional insurance guarantees attached. The variable subaccounts give you real market exposure — upside and downside — unlike a fixed or indexed annuity. The GLWB rider adds a benefit base that grows independently of the market, providing a floor for future income withdrawals even if the account value falls. The death benefit options add a secondary layer of legacy protection. The insurance wrapper provides tax deferral and the optional guarantees, but it also carries the fees that a direct investment does not.

ChoicePlus Fusion gives buyers access to 88 variable subaccounts spanning equity, bond, balanced, real estate, and alternative allocation strategies from managers including Fidelity, American Funds, PIMCO, Vanguard, BlackRock, JPMorgan, Franklin Templeton, MFS, Goldman Sachs, and others. Subaccount net expense ratios range from 0.48% to 1.46% depending on the option selected. The account value moves with the subaccounts — there is no cap, no floor, and no index crediting formula. If markets go up, the account grows. If markets fall, the account value falls.

The base contract charges include a 0.80% mortality and expense charge, a 0.10% administration charge, and a 0.50% other charge, totaling approximately 1.40% annually before subaccount expenses. A $50 annual contract fee applies to accounts below $50,000, and a quarterly premium-based charge applies if the i4LIFE Advantage income distribution option is used.

The optional Lincoln ProtectedPay Select Core VI (Fusion) GLWB rider is the feature that gives this product real retirement income relevance. At the current charge of 1.60% — with a contract maximum of 2.75% — the rider provides a benefit base that grows at a 7% simple rollup rate annually for up to 10 years before the buyer begins withdrawals. That means a buyer who defers for 10 years and never takes income during that time could see the benefit base used to calculate guaranteed withdrawal amounts roughly double from the original premium, regardless of how the subaccounts actually perform.

The death benefit options are also meaningful: the Guarantee of Principal Death Benefit ensures heirs receive at least the total premiums paid, and the Enhanced Guaranteed Minimum Death Benefit locks in the highest contract anniversary value. These add cost (0.05% to 0.50%) but can be relevant for legacy-conscious buyers.

The surrender structure is unusually short for a variable annuity with optional GLWB functionality. Only the first contract year carries a 1% surrender charge. After that, full surrender is available without a carrier penalty. Free withdrawal access is available immediately — the greater of 10% of account value or 10% of premiums paid — which is more generous than the typical first-year restriction on many competing products.

However, buyers using the GLWB rider should understand that income rider terms may be affected by withdrawals that exceed the rider's permitted annual amount. Excess withdrawals can reduce the benefit base proportionally, which is distinct from the surrender charge question.

Fee transparency is the central tradeoff here. A buyer who selects this product with the GLWB rider and a mid-range subaccount selection should expect combined annual costs of roughly 3.00% to 3.50% or more, depending on the specific subaccounts chosen.

The layers: base contract charges of approximately 1.40% (mortality and expense, administration, and other charges), subaccount expenses of 0.48% to 1.46%, an optional GLWB rider at 1.60% current (maximum 2.75%), and optional death benefit rider charges of 0.05% to 0.50%.

For a buyer who genuinely values the insurance guarantees and the income deferral strategy, those costs may be justified. For a buyer who is primarily seeking market returns and is not certain they will use the rider, the cost drag is a real concern. The income rider fee in particular can increase over time, adding uncertainty to long-term projections.

Legal Entity: The Lincoln National Life Insurance Company

Parent: Lincoln Financial Group

A.M. Best Rating: A

Lincoln Financial Group is a well-established life insurance and annuity company with a long track record in the variable annuity market. The A.M. Best rating of A indicates strong financial strength. ChoicePlus Fusion is part of Lincoln's variable annuity platform that spans multiple share classes and distribution channels, and the product reflects Lincoln's standard approach to combining market access with optional guaranteed income features.