Shifting Consumer Needs and Expectations Drive New Life Insurance Product and Underwriting Enhancements from Lincoln Financial Group that Advance the Life Insurance Business Model

New products and services address planning needs – from asset
accumulation and market volatility protection, to retirement and
long-term care solutions – with the potential to issue policies in as
little as 24 hours.

RADNOR, Pa.–(BUSINESS WIRE)–In response to increasing consumer preference for holistic financial
solutions that meet multiple planning needs, and demand for ease and
speed of business, today Lincoln Financial Group introduced several new
life insurance products that deliver greater value and flexibility, as
well as digital underwriting enhancements that simplify and expedite the
buying process.

The new products and services reflect Lincoln’s commitment to advancing
the traditional life insurance business model, an important step to meet
the evolving expectations of clients and advisors, as recognized in a
recent report from Ernst and Young, ‘What Should Insurers Do Today to
Prepare for Tomorrow.’ Among the strategies to ‘futurize’ the business
model, the report cites the need for products that address all aspects
of financial wellness, including protection, retirement and health, and
digitized and enhanced customer touchpoints.

New and Enhanced Products

  • Lincoln
    Indexed Universal Life (IUL) 2019
    – For
    clients needing life insurance that offers death benefit protection
    and the flexibility to meet a wide range of financial needs, such as
    supplemental retirement income or business protection, Lincoln has
    launched the next generation of its WealthAccumulate IUL
    policy. WealthAccumulate IUL offers significant cash value
    growth opportunities linked to S&P 500 market index performance, with
    indexed account choices that can be tailored to a client’s preferences
    for return potential and downside protection. New features include an
    additional indexed account option providing higher return potential
    than previously available, and the option to have premiums returned
    after a defined period assuming all premium requirements have been met.
  • Lincoln
    – For clients in need of life
    insurance offering cash value growth potential, but with longer-term
    death benefit protection, Lincoln has enhanced its WealthPreserve IUL
    product, now available with lower premiums for applicants. WealthPreserve
    IUL combines guaranteed death benefit protection for up to
    40 years or to age 90, and cash value growth opportunities linked to
    S&P 500 market index performance.
  • Lincoln Care CoverageSM Accelerated Benefits Rider –
    To help clients approaching or in retirement protect savings from
    potential long-term care expenses, including those incurred from
    temporary or permanent conditions, Lincoln has introduced the new Lincoln
    Care Coverage
    rider, available now on Lincoln
    ONE (2014)
    and Lincoln
    UL (2013)
  • MoneyGuard®
    Pricing Adjustments – For its popular MoneyGuard II
    product, a universal life (UL) insurance solution offering clients
    multiple benefit options, including a death benefit and reimbursement
    of long-term care expenses, Lincoln has made pricing adjustments, that
    on average, will decrease premium prices by three percent for
  • Term
    Pricing Enhancements – For millennials who may be approaching life
    milestones such as starting a family, or Gen Xers and Baby Boomers who
    may be underinsured or in need of death benefit protection for just a
    certain number of years, Lincoln has reduced pricing on its Term
    insurance offerings for applicants.

“Consumers and advisors are looking for insurance products that offer
financial planning flexibility, and buying experiences more consistent
with other industries,” said Mike Burns, senior vice president, Life
Solutions, Lincoln Financial Group. “With these evolving expectations,
Lincoln continues to transform the life insurance business model,
delivering policies that go beyond a death benefit – providing ‘living
benefits’ that help clients achieve financial goals in various phases of
life. And we’re making it more convenient to purchase and own those
policies with simpler, faster, high-tech buying and service experiences.”

Underwriting Process Enhancements

  • Automated Underwriting Expansion – To provide a more convenient and
    faster underwriting experience, including the potential to issue
    policies in as little as 24 hours, Lincoln’s automated underwriting
    process is now also available (via the LincXpress®
    tele-interview process) with Lincoln LifeElements® Level Term,
    and soon, all single-life UL, IUL and Variable UL (VUL) products.
    Eligible cases will use an automated underwriting approach leveraging
    technology to process and verify application information and make
    underwriting decisions, without compromising risk assessment.
  • Unified Application –All Lincoln Term, UL, IUL and VUL policies,
    excluding MoneyGuard, will now use the same application,
    integrating all application processes into one streamlined and
    consistent experience for clients and advisors.
  • Case tracker – To help advisors keep clients informed and reduce
    administrative tasks, Lincoln’s online portal allows an advisor to
    quickly see the status of a client’s case in the underwriting & new
    business process, and any outstanding requirements needed to process
    the case.

For more information on how life insurance can help meet your financial
planning needs, visit Lincoln’s

Important Information

The S&P 500 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”)
and has been licensed for use by The Lincoln National Life Insurance
Company. Standard & Poor’s®, S&P ® and S&P 500® are registered
trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow
Jones® is a registered trademark of Dow Jones Trademark Holdings LLC
(“Dow Jones”); and these trademarks have been licensed for use by SPDJI
and sublicensed for certain purposes by The Lincoln National Life
Insurance Company. The Lincoln National Life Insurance Company’s
Products are not sponsored, endorsed, sold or promoted by SPDJI, Dow
Jones, S&P, their respective affiliates, and none of such parties make
any representation regarding the advisability of investing in such
products nor do they have any liability for any errors, omissions, or
interruptions of the S&P Index.

The Lincoln National Life Insurance Company, Fort Wayne, IN
Life & Annuity Company of New York, Syracuse, NY
The Lincoln
National Life Insurance Company does not solicit business in the state
of New York, nor is it authorized to do so.

All guarantees and benefits of the insurance policy are subject to the
claims-paying ability of the issuing insurance company. They are not
backed by the broker-dealer and/or insurance agency selling the policy,
or any affiliates of those entities other than the issuing company
affiliates, and none makes any representations or guarantees regarding
the claims-paying ability of the issuer.

In some states, contract terms are set out and coverage may be provided
in the form of certificates issued under a group policy issued by The
Lincoln National Life Insurance Company to a group life insurance trust.
Products, riders and features are subject to state availability. The
insurance policy and riders have limitations, exclusions, and/or
reductions. Check state availability.

Distributor: Lincoln Financial Distributors, Inc., a broker-dealer

Lincoln LifeElements® Level Term (2017) policy
form TRM6063 and state variations. Not available in New York.
® IUL (2018) policy form UL6083 / ICC18UL6083 and
state variations; Not available in NY.
Lincoln WealthPreserve®
IUL (2017) policy form UL6046/ICC15UL6046 and state variations; Not
available in NY.
MoneyGuard II issued by The Lincoln
National Life Insurance Company, Fort Wayne, IN, on Policy Form
LN880/ICC13LN880 with the following riders: form LR880 and state
variations/ICC15LR880 Rev; form LR881/ICC13LR881; form LR882/ICC13LR882.
Not available in New York.

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help empower
people to take charge of their financial lives with confidence and
optimism. Today, more than 17 million customers trust our retirement,
insurance and wealth protection expertise to help address their
lifestyle, savings and income goals, as well as to guard against
long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln
Financial Group is the marketing name for Lincoln National Corporation
(NYSE: LNC) and its affiliates. The company had $238 billion in assets
under management as of December 31, 2018. Lincoln Financial Group is a
committed corporate citizen included on major sustainability indices
including the Dow Jones Sustainability Index North America and
FTSE4Good. Additionally, Lincoln is dedicated to upholding a diverse and
inclusive organization and was recognized by Forbes as one of the Best
Large Employers, Best Employers for Diversity, and Best Employers for
Women and received a perfect score of 100 percent in 2018 on both the
Corporate Equality Index and Disability Equality Index. Learn more at:
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Lincoln Financial Group:
Jay Russo

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