The Comprehensive Guide to Lincoln National Life Insurance
In the world of life insurance, one name that stands out is Lincoln National Life Insurance. As part of the Lincoln Financial Group, Lincoln National Life Insurance Company has established itself as a trusted provider of various life insurance products. In this comprehensive guide, we will explore the different types of life insurance offered by Lincoln National Life Insurance, their features, and how they can meet the diverse needs of customers.
Table of Contents
1. Introduction to Lincoln National Life Insurance
2. Lincoln Financial's Term Life Insurance
3. Lincoln Financial's Guaranteed Universal Life Insurance
4. Lincoln Financial's Indexed Universal Life Insurance
5. Lincoln Financial's Variable Universal Life Insurance
6. Conclusion
1. Introduction to Lincoln National Life Insurance
Established with a commitment to providing reliable insurance services, Lincoln National Life Insurance serves customers across the United States. As part of the Lincoln Financial Group, they offer a range of life insurance products and solutions to meet the unique needs of individuals and families.
2. Lincoln Financial's Term Life Insurance
Term life insurance provides coverage for a specific period, making it an ideal choice for those seeking temporary coverage. Lincoln National Life Insurance offers term lengths of 10, 15, 20, or 30 years, giving customers flexibility in choosing the coverage that suits their needs.
2.1 Lincoln TermAccel
For those in good health looking for a quick and automated process, Lincoln TermAccel is an excellent option. It is available in all U.S. states except New York and offers coverage amounts starting at $100,000, going up to $1 million. This product is available to buyers aged 18 to 60, or younger for a 30-year term.
2.2 Lincoln LifeElements
If you require higher coverage amounts, Lincoln LifeElements may be the right solution for you. With options for coverage amounts starting at $250,000 and going up to $5 million, it provides more extensive coverage. The availability of coverage depends on your state and the term length chosen, with coverage available to buyers aged 18 to 80.
3. Lincoln Financial's Guaranteed Universal Life Insurance
Guaranteed universal life insurance is an affordable option that provides coverage until a pre-selected age. Lincoln Financial offers two options for those interested in guaranteed universal life policies: Lincoln LifeGuarantee UL and Lincoln LifeGuarantee SUL.
3.1 Lincoln LifeGuarantee UL
With Lincoln LifeGuarantee UL, you receive a guaranteed death benefit and premium rates. Buyers aged 20 to 85 at the time of policy issue can avail of coverage amounts starting at $100,000, going up to $5 million. This product provides flexibility in premium payment amounts and frequency, given a positive cash value or satisfaction of Lincoln Financial's Coverage Protection Guarantee requirements. Additionally, you have the option to borrow up to 100% of the cash surrender value at any time.
3.2 Lincoln LifeGuarantee SUL
Lincoln LifeGuarantee SUL is a survivorship universal life insurance product, covering two people. The death benefit is paid when the second person dies. Similar to LifeGuarantee UL, this policy offers guaranteed lifetime coverage and premiums. Buyers aged 20 to 80 may be eligible for a policy, with coverage remaining in force until the youngest policyholder turns 121. You can also borrow against the cash value, with a minimum annual interest rate of 2% on unborrowed cash value.
4. Lincoln Financial's Indexed Universal Life Insurance
Indexed universal life insurance (IUL) is a type of permanent life insurance that offers coverage for the duration of your life. Lincoln Financial provides two IUL products: Lincoln WealthAccumulate 2 IUL and Lincoln WealthPreserve 2 IUL.
4.1 Lincoln WealthAccumulate 2 IUL
Lincoln WealthAccumulate 2 IUL offers cash value tied to six indexed accounts with downside protection. This product provides three death benefit calculation options, catering to your unique needs and goals. With WealthAccumulate 2 IUL, you have the option to choose between a fixed loan or participating loan for cash value borrowing. Additionally, a 10-year no lapse guarantee ensures that the policy remains in force as long as the premium requirement is met.
4.2 Lincoln WealthPreserve 2 IUL
Lincoln WealthPreserve 2 IUL offers cash value tied to five indexed accounts and guarantees the death benefit for up to 40 years or until you reach age 90. This policy includes downside protection against market changes. Similar to WealthAccumulate 2 IUL, you can borrow against your cash value whenever needed.
5. Lincoln Financial's Variable Universal Life Insurance
Variable universal life insurance (VUL) policies offer flexibility in premium payments and death benefit amounts, along with the potential for growth through cash value investments. Lincoln Financial provides several VUL products to cater to different needs.
5.1 Lincoln VULONE
Lincoln VULONE offers guaranteed protection with over 75 investment options. Buyers can also add riders for chronic illness or long-term care expenses, providing additional coverage and peace of mind.
5.2 Lincoln AssetEdge VUL
Lincoln AssetEdge VUL is designed for buyers looking to maximize investment potential. With over 75 investment options, four indexed account options, and a fixed account, this product offers ample opportunities for growth.
5.3 Lincoln Asset Edge Exec VUL
Lincoln Asset Edge Exec VUL targets business owners who want to utilize life insurance for funding buy-sell agreements or other business strategies. This product offers flexibility and tailored solutions for business needs.
5.4 Lincoln SVULONE
Lincoln SVULONE is a variable universal life survivorship policy that covers two people under one policy and one premium. This product provides comprehensive coverage for couples or partners.
6. Conclusion
Lincoln National Life Insurance, part of the Lincoln Financial Group, offers a wide range of life insurance products to meet the diverse needs of customers. Whether you're looking for term life insurance, guaranteed universal life insurance, indexed universal life insurance, or variable universal life insurance, Lincoln National Life Insurance has options to suit your requirements. With their commitment to providing reliable coverage and flexible solutions, Lincoln National Life Insurance is a trusted name in the life insurance industry.
By understanding the different types of life insurance offered by Lincoln National Life Insurance, you can make an informed decision about the coverage that best suits your needs and provides financial security for you and your loved ones. Take the time to explore the options and consult with a professional to determine the ideal policy for your unique circumstances.
READ MORE:
