Lincoln Financial Life Insurance Offerings
Life insurance supports financial planning by securing financial protection for your loved ones, protecting your wealth/business or even paying for college or supplementing your retirement plan through the use of annuities or cash value accumulating permanent products.
There are many factors to consider when choose a life insurance product. Lincoln Financial Group offers multiple products within each life insurance category, so finding coverage fit to your life is easy to do. You can access these products through insurance agents as well as select employers that choose Lincoln as part of their employee benefits package.
Lincoln Term Life Insurance:
Term life insurance policy is the most economical kind of life insurance coverage you can buy from Lincoln. This type of policy offers a fixed premium payments and coverage over a specific period of time (10, 15, 20 or 30 years). The death benefit is guaranteed within this term and not subject to market fluctuations.
However, it does disappear once the term has ended and holds no cash value if the policy holder chooses not to annually renew or convert to any of the available permanent policies. This means, there is no return on your investment once the life of the policy runs out.
There are two types of term life insurance policies available:
- Lincoln LifeElements 10, 15, 20, and 30 Year Term
- Lincoln TermAccel 10, 20, and 30 Year Term (This products allows for underwriting without a medical exam)
Both types of life insurance are great, the biggest difference is the TermAccel product is more cost effective for those 50 years of age or younger and applying for 500,000 or less in coverage.
Lincoln Life Insurance: Universal Life Insurance
Lincoln Financial Group’s universal life insurance products offer permanent life insurance protection with a guaranteed benefit extending throughout your lifetime. You also have the potential to build a cash value within your policy that can be used for other expenses. This growth is set at a guaranteed rate and earnings are tax-deferred. With these plans, you also enjoy the flexibility of changing your premium amount and adjusting the amount of your death benefit. Products include:
- Lincoln LifeGuarantee® UL
- Lincoln LifeCurrent® UL
- Lincoln LifeReserve® UL
- Lincoln LifeGuarantee® SUL
- Lincoln LifeReserve® Indexed UL Accumulator
- Lincoln WealthAdvantage® Indexed UL
- Lincoln WealthPreserve® Survivorship Indexed UL
Lincoln Life Insurance: Variable life insurance
Variable universal life insurance also available from Lincoln Financial Group and combines features of the two types of insurance above with added investment options. Policyholders receive a guaranteed death benefit, tax-deferred cash accumulation at a guaranteed rate and the adjustable death benefits and premiums offered with the other plans. In addition, these policies give the option to invest the accumulated cash in stocks and bonds. Lincoln Financial Group offers single life and survivorship (two people insured) products.