Lincoln Financial Life Insurance Review 2021

Lincoln Financial Life Insurance Review 2021

Are you looking for a great Lincoln Financial Life Insurance Review?

Lincoln Financial Life Insurance review, Lincoln National Life Insurance  Company review

We have worked with Lincoln Financial Group (The Lincoln National Life Insurance Company) for many years and can tell you everything you need to know in choosing Lincoln Financial as your life insurance company.

In this Lincoln Financial Life Insurance Review 2021, we will go over the rates, financial ratings, product details, underwriting, fine print and pretty much everything else you need to know about Lincoln Financial Life Insurance (Lincoln National Life Insurance Company).



About Lincoln Financial Life Insurance

Founded: 1905

Website: lfg.com/public/individual/exploreinsuranceannuities/lifeinsurance

Phone: (800) 487-1485

Lincoln Financial Group Address: 100 North Greene Street, Greensboro, NC 27401

J.D. Power Ranking: 749 out of 1000

Lincoln Financial Life Insurance Awards: Lincoln Financial was named as one of the best life insurance companies 2021 by Forbes Advisor. Lincoln Financial Group has been named one of America’s Most Responsible Companies 2021 by Newsweek Magazine. Named as a Best Employer for Diversity for the third consecutive year.

Stock Symbol: LNC

Lincoln National Annual Report


Lincoln Financial- How Much Life Insurance Do I Need?

Lincoln Financial Life Insurance Ratings

Rating Agency Strength Ratings
A.M. Best A+ (Superior)
Fitch A+ (High Credit Quality)
Moody’s A1 (High Grade)
S&PAA- (Very Strong)
Comdex 91

Lincoln Financial Life Insurance Life Insurance Underwriting

Preferred Plus Health Class

Lincoln Financial life insurance has very favorable underwriting in many areas that allow the best health class as seen below:

  • No tobacco/nicotine products in 36 months (3 years)
  • Up to 12 cigars a year with a negative urine specimen for nicotine is allowed
  • Blood pressure reading with a 12-month average of 135/85 or lower, if on a blood pressure lowering medication than a 12-month average of 130/80 or lower. (Treated and untreated hypertension with a 12-month average of 140/90 or lower age 70 and up.)
  • No alcohol or drug abuse within the past 10 years
  • Family history- no deaths of parent or sibling before age 65 due to cardiovascular disease. Age 70 or above, disregard family history of cardiovascular disease
  • BMI of 30 or less and minimum BMI of 18 for age up to 60 years old. Age 61 and above, BMI 31 or less and a minimum BMI of 19
  • No more than 3 non-severe moving violations in the past 3 years, no DUI or license suspension in the past 5 years
Lincoln Financial Life Insurance Preferred Plus Guidelines

Preferred Health Class

  • No tobacco/nicotine products in 24 months (2 years). Occasional cigar use of up to 24 cigars a year with a urine specimen negative for nicotine.
  • No history of alcohol or drug abuse within the past 7 years
  • Family history- no deaths of parent or sibling before age 60 due to cardiovascular disease
  • Blood pressure reading, with out without medication, a 12-month average of 140/90 or lower (age 70 and above, with our without medication, a 12-month average of 155/90 or lower)
  • BMI of 32 or less and minimum BMI of 18 for those up to age 60, BMI of 33 or less and minimum BMI of 19 for ages 61 and above
  • No more than 3 non-severe moving violations in the past 3 years, no DUI or license suspension in the past 5 years
Lincoln Financial Life Insurance Preferred Guidelines

Lincoln Financial Life Insurance Health Classes

  • Preferred plus nontobacco
  • Preferred nontobacco
  • Preferred tobacco
  • Standard nontobacco
  • Standard tobacco
  • Table 1
  • Table 2
  • Table 3
  • Table 4
  • Table 5

Lincoln Financial Life Insurance Underwriting Requirements By Age & Amount For Term Life Insurance And Permanent Life Insurance

  • $0 to $49,999
  • $50,000 to $99,999
  • $100,000 to $250,000
  • $250,001 to $500,000
  • $500,001 to $1,000,000
  • $1,000,001 to $2,500,000
  • $2,500,001 to $5,000,000
  • $5,000,001 to $10,000,000
  • $10,000,001 to $60,000,000
Lincoln Financial underwriting requirements from $0 up to $60 million for term and permanent life insurance

(As you can see, the underwriting process is not much more laborious for a $1 million policy as it is for $60 million policy.)

*Life insurance amounts over $60 million require facultative reinsurance


Lincoln Financial Life Insurance Height/Weight Chart (Build)

Minimum and maximum BMI and weight in pounds for the Preferred Plus and Preferred health class.

Lincoln Financial Life Insurance Height/Weight Chart (Build)- Minimum and maximum BMI and weight in pounds for the Preferred Plus and Preferred health class.

Minimum and maximum BMI and weight in pounds for the standard and substandard health classes.

Lincoln Financial Life Insurance Height-Weight Chart (Build) Standard and substandard rate class

Lincoln Financial Life Insurance Height/Weight (BMI) Guidelines

Lincoln Financial has very favorable height/weight (BMI) guidelines.

Up to Age 60

  • Preferred Plus: BMI 18 – 30
  • Preferred: BMI 18 – 32

Age 61 and over

  • Preferred Plus: BMI 19 – 31
  • Preferred: BMI 19 – 33

Don’t know your BMI? Use this BMI calculator from the CDC here.


Underwriting Smokeless Tobacco

Lincoln Financial (Lincoln National Life Insurance Company) is one of only a few life insurance companies in the country to offer non tobacco rates for applicants who use cigars, pipes, chewing tobacco and other tobacco products, and who may test positive for nicotine. Excludes cigarette and e-cigarette smokers.


Underwriting Marijuana

Lincoln Financial also has some of the best life insurance underwriting guidelines in the county for marijuana. Lincoln Financial does not consider marijuana as a tobacco product and can qualify for non tobacco rates.


Reinsurance Limits

Term Life & Permanent Life
Autobind limits
$60,000,000 ages 0–75
$50,000,000 ages 76–80
$25,000,000 ages 81–85
Jumbo limits
$65,000,000 ages 0–80
$50,000,000 ages 81–85
Foreign Nationals
$25,000,000 ages 18–80
Foreign Nationals jumbo limit
$35,000,000 ages 18–80

Autobind limits will be reduced if the client is a professional athlete or other high-profile individual or rating.

Definitions

Autobind limit: is the maximum amount that the insurance company can automatically issue (without sending the file to the reinsurers) by using reinsurance agreements, based on underwriting guidelines.

Jumbo Limit: Total amount of life insurance in force with all life insurance companies.


Lincoln Financial- Term vs Permanent Life Insurance

Lincoln Financial Term Life Insurance Product Details

Lincoln Financial’s term life insurance is excellent for:

  • Replace your lost income for your family’s financial well-being
  • Pay off mortgage for family home
  • Cover debt
  • Pay final funeral expenses
  • Cover tuition for your children’s education
  • SBA Loan life insurance requirement
  • Key person coverage
  • Divorce agreement
  • Buy-sell agreement

Product Name: Lincoln has two term products called: TermAccel Level Term & LifeElements Level Term

Term Lengths Available: 10, 15, 20, 25 and 30 year level term

Prices: Lincoln Financial (Lincoln National) often has some of the most competitive term life insurance rates in the country, often the number one best price in the country.

Conversion: Lincoln offers a conversion option to permanent insurance on their term product. Typically you can convert your term life insurance policy to a permanent life insurance policy with up until age 70 or before the term ends, whichever comes first.

Accelerated Death Benefit Rider:

Free rider that allows the ability to accelerate a portion of the policy’s death benefit via the Accelerated Death Benefit Rider if you become terminally ill.

Additional Services:

•Choice of premium payment mode: annually, semi-annually, quarterly, or monthly

•Choice of electronic policy delivery for ease and convenience

.•Choice of electronic application for potentially faster turnaround times


Lincoln TermAccel vs. Lincoln LifeElements

Lincoln TermAccel Level Term vs Lincoln LifeElements Level Term

In comparing life insurance rates nationally, you may have noticed two different quotes from Lincoln Financial; TermAccel Level Term & LifeElements Level Term. Below will explain the difference between the two products.

Lincoln TermAccel

Lincoln TermAccel is generally for those that are in good health, with minimal health histories, and would like a more streamlined application and underwriting process. It provides the option of an online application or phone interview, and if qualify, the possibility of bypassing the paramed exam.

Minimum Coverage AmountMaximum Coverage Amount
$100,000$1,000,000

Term Lengths Avaialbe: 10, 15, 20, or 30 years

Conversion Options: Lincoln TermAccel level term insurance policy is convertible prior to the end of the level premium payment period (10, 15, 20 or 30 years) or prior to insured’s attained age 70, whichever comes first. The conversion is to a Lincoln permanent life policy, if available without proof of insuability.

TermAvailable Issue Age
10-Year Term- Non-Tobacco Rate Class18-60
10-Year Term- Tobacco Rate Class 18-60
15-Year Term- Non-Tobacco Rate Class18-60
15-Year Term- Tobacco Rate Class 18-60
20-Year Term- Non-Tobacco Rate Class 18-60
20-Year Term- Tobacco Rate Class 18-60
30-Year Term- Non-Tobacco Rate Class 18-55
30-Year Term- Tobacco Rate Class 18-50

*Not in NY

Lincoln TermAccel Level Term Brochure


Lincoln LifeElements

Lincoln LifeElements is also convenient, as it requires a simple phone interview application, and if you qualify, the possibility of bypassing the health exam, for those that are eligible. LifeElements does offer coverage up to $10 million or higher for those that qualify financially.

Minimum Coverage Amount Maximum Coverage Amount
$250,000$10,000,000 + (based on what you qualify for)

Term Lengths Avaialbe: 10, 15, 20, or 30 years

Conversion Options: Lincoln LifeElements level term insurance policy is convertible prior to the end of the level premium payment period (10, 15, 20 or 30 years) or prior to insured’s attained age 70, whichever comes first. The conversion is to a Lincoln permanent life policy, if available without proof of insuability.

TermAvailable Issue Age
10-Year Term- Non-Tobacco Rate Class 18-80
10-Year Term- Tobacco Rate Class 18-80
15-Year Term- Non-Tobacco Rate Class18-75
15-Year Term- Tobacco Rate Class18-70
20-Year Term- Non-Tobacco Rate Class 18-70
20-Year Term- Tobacco Rate Class 18-65
30-Year Term- Non-Tobacco Rate Class 18-55
30-Year Term- Tobacco Rate Class 18-50

*Not in NY

Lincoln LifeElements Level Term Brochure


Lincoln Financial Term Life Life Insurance Rate Chart

Age
$500k
10-Year Term

$500k
15-Year Term

$500k
20-Year Term

$500k
30-Year Term
25$14$15$19$30
30$14$15$19$31
35$14$16$21$36
40$18$20$29$53
45$28$36$47$80
50$41$56$72$129
55$68$86$116$234
60$111$146$203N/A
65$193$261$387N/A
70$320$481$799N/A
75$646$1,197N/AN/A
80$1,586N/AN/AN/A
*Monthly premiums at preferred plus rate class, male

Lincoln Financial Permanent Life Insurance Product (GUL) Details

Lincoln Financial has a great guarantee universal life-no-lapse GUL policy. It starts at $100k which makes it a great chose for final expenses and goes up to $60 million which is ideal estate planning.

  • Estate planning
  • Income replacement
  • Final expenses
  • Pass wealth to children, grandchildren or charitable organizations income tax free
  • Guaranteed protection for life
  • Debts that may last your lifetime such as a mortgage or a loan
  • A special needs dependent
  • Buy-sell agreement to have an orderly business succession
  • Key person coverage

Product Name: Lincoln LifeGuarantee UL (2019)

No-Lapse Guarantee Protection Options To: Age 105 or Age 121

Minimum Face Amount: $100k

Issue Ages: 20 to 80 years old

Policy Coverage: Policy covers every type of death (except suicide in the first two years)

Waiting Period: None, covered from day one, once you are approved and make the first payment for their guaranteed universal life insurance product


Lincoln Financial Guarantee Universal Life Insurance Rate Chart

**Rates and policy amount are both fixed until age 121**

AgeMale
$100k
Female
$100k
Male
$1,000,000
Female
$1,000,000
25$69$63$521$461
30$80$72$622$550
35$92$84$743$658
40$106$96$882$779
45$123$110$1,045$922
50$145$129$1,268$1,121
55$152$135$1,338$1,173
60$191$170$1,778$1,532
65$255$218$2,416$2,018
70$351$296$3,374$2,797
75$488$417$4,739$4,015
80$790$650$7,764$6,347
*Monthly premiums at the preferred plus rate class

Compare rates from the top guarantee universal life insurance companies in the country instantly with our instant quote engine.


Did You Know? Lincoln Financial is also well-known locally and nationally for their sponsorship of Lincoln Financial Field which is the home stadium of the National Football League’s Philadelphia Eagles and the Temple Owls football team of Temple University.

Did You Know? Lincoln Financial is also well-known locally and nationally for their sponsorship of Lincoln Financial Field which is the home stadium of the National Football League’s Philadelphia Eagles and the Temple Owls football team of Temple University.

Lincoln Financial Life Insurance Review- Final Thoughts

Lincoln Financial Group, the marketing name for Lincoln National Corporation is one of the largest and trusted insurance and investment management companies in the United States.

Lincoln Financial life insurance, underwritten by Lincoln National Life Insurance Company is one of the best life insurance companies in America today.

Lincoln National Life Insurance Company often has the best life insurance rates in the country, not only for healthy people but also for those that have certain underwriting needs, such as: non tobacco rates for: unlimited cigars, pipes, chewing tobacco, marijuana and other tobacco products. Lincoln also offers Preferred nonsmoker rates only after two years of quitting cigarettes and Preferred Plus nonsmoker rates after three years, the best in the industry.

Lincoln also has a great accelerated underwriting application process. Depending on the the TermAccel or LifeElements policy, there a simple online or phone interview application and the opportunity of no lab work requirements if you meet certain qualifications.

With an A+ (Superior) financial rating from A.M. Best, a long history dating back to 1905, easy online policy management and policy access, Lincoln Financial is one of our favorite carriers.


Frequently Asked Questions

Is Lincoln Financial a good life insurance company?

Yes, Lincoln Financial (Lincoln National) is one of the best life insurance companies in the country.


Lincoln Financial Life insurance payout

Lincoln Financial was established in 1905 and has never failed to pay a valid life insurance claim. Lincoln offers three pay out options: Settlement (proceeds plus interest in installments payments), Lump sum payment or SecureLine (interest-beating account with check writing privileges.)


Does Lincoln Financial Life Insurance require a medical exam?

Lincoln has one of the best accelerated underwriting application programs in the country and a no exam for those that qualify.


What is Lincoln Financial life insurance payout rate?

Lincoln Financial (Lincoln National) life insurance has never failed to payout a valid claim.


What term lengths are available for Lincoln Financial Life Insurance?
Lincoln Financial offers: 10, 15, 20, 25 and 30 year level term length options.


Does Lincoln Financial Life Insurance (Lincoln National Life Insurance Company) have a good rating?

Lincoln National Life Insurance Company has an A+ (Superior) financial rating from A.M. Best.


How much is Lincoln Financial Life Insurance?

The price for life insurance from Lincoln Financial will depend on several factors such as your: age, coverage amount, policy length, medical history and several other factors. The best way to determine how much is Lincoln Financial life insurance is to use our instant price quoter.


Where can I get an instant Lincoln Financial Life Insurance quote?

You can receive instant Lincoln Financial Life Insurance quotes here, as well as compare the rates from the other top life insurance companies.


Why PolicyMutual?

PolicyMutual.com not only represents Lincoln Financial Life Insurance but also the other top 50+ life insurance companies. While Lincoln Financial will have the best rate for some of our clients, they don’t always have the best rates for every client, no insurance company does. Underwriting factors such as: coverage amount, policy length, age, height/weight, blood pressure, cholesterol, medical history and many other factors will determine which company will offer the best rate for your specific profile. That is why we recommend to compare rates from multiple top life insurance companies and choose the best one for you. If you have any questions don’t hesitate to get in contact with us.


Give us a call: (888) 676-5429, send us an email: info@policymutual.com or you can send a request using our contact form and will shop the market and provide you with the best quotes for term and permanent insurance for Lincoln Financial as well as the other top life insurance companies. Instant Quoter

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