Lincoln Financial Insurance Company Comprehensive Review for 
Lincoln Financial Life Insurance Company is a carrier you must review before applying for life insurance. Anyone planning on purchasing life insurance will have to place a lot of confidence in the company they are applying with. This subject becomes even more critical if the economy is not doing well.
This article will inform you about an excellent life insurance company you may or may not have heard of, and you owe it to yourself to consider them before you apply.
If you are looking for a financially strong company with extremely competitive rates that have been in business for well over 100 years, Lincoln Financial may be just the ticket for you
Lincoln Financial is a significant player in the life insurance industry. Their excellent rates and policy designs prompted us to write this review.
Table of Contents
- What Is Lincoln Financial’s Company History All About?
- What Is Lincoln’s Financial Rating?
- What Does Lincoln Financial Offer for Their Product Line?
- How Does Lincoln Financial’s Rates Stack Up to the Competition?
- Did You Know Many Agents Purchase Lincoln for Themselves?
- How Can I Compare Lincoln Financials Rates?
- Does Lincoln Offer Low Rates for Marijuana Users and Smokers?
- Lincoln Offers Liberal Underwriting for Medical Conditions
- In Conclusion
In 1905, a small group of businesspeople from Fort Wayne, Indiana, created a new life insurance company. This company would be focused on honesty, dependability, and the best customer service. This company would be named after our nation’s greatest president, Abraham Lincoln.
Naming a life insurance company after Mr. Lincoln would mean this new company would have to be walking in the reputation of one of the most respected men that ever lived. Today, Lincoln National, a key member of the Lincoln Financial Group, has generated that respect and the excellent reputation they initially pursued 116 years ago.
This Lincoln Financial review will cover a lot of great benefits the company offers.
As of the third quarter of 2020, Lincoln Financial has reported managed assets of 278 Billion Dollars. Operating revenue of $3.9 Billion, net income of $512 million, and income from operations of $552 million. This Lincoln Financial review will show you some unique goals they have met for quality life insurance products.
Financial Strength Ratings:
- M. Best: A+
- Standard & Poor’s: AA-
- Moody’s: A1
- Fitch: A+
These are some of the very best ratings you will ever see for a life insurance company to obtain. Lincoln Financial is in the highest-ranking bracket possible. This spells stability and trust for their policyholders and prospective life insurance applicants.
Term Life Insurance:
TermAccel is a specific term life insurance product that utilizes a convenient application by telephone. In addition, if you meet their health history guidelines, no lab work will be required.
These policies can be issued in as little as two days, which means you could have a policy in hand in a fraction of the time it would take a conventional term life insurance policy to be issued.
The TermAccel policies have very competitive premiums and offer the flexibility to convert your Term policy to one of Lincoln’s permanent policies, such as Universal Life.
TermAccel Product Details:
- Minimum Face Amount – $100,000
- Maximum Face Amount – $500,000
- Term Periods – 15, 20 & 30 years
Supplemental Benefit Riders:
- Children’s Rider – For an additional cost, this rider offers level Term insurance for all insured’s children.
- Accelerated Benefits Rider – This excellent rider pays out a portion of the policy face amount if the insured is diagnosed with a terminal illness that only gives them six months or less to live.
- Waiver of Premium Rider – This rider waives the premium if the insured becomes disabled and can no longer pay the premiums.
Highly competitive rates for applicants 45 years old and above with face amounts of $500,000 and above.
- Fast & Simple telephone applications with approval times of several days.
- No Lab Work if you meet their medical guidelines.
- The ability to convert your term life policy to permanent universal Life policies.
- A minimum face amount of $250,000
- The maximum face amount of individual consideration of each applicant and underwriting limits.
- Term periods of 10, 15 & 30 years.
As with the TermAccel policies, you can choose the Accelerated Death Benefit Rider, The Waiver of Premium Rider, and the Children’s Rider.
Universal Life Insurance:
- Lincoln LifeGuarantee UL
- Lincoln LifeCurrent UL
- Lincoln LifeReserve UL
Universal Life Products Offer:
- The opportunity to generate cash value over time with a fixed interest rate.
- The option to designate the amount of your monthly premium.
- The option to change the amount of your policy face amount with the approval of the underwriting department.
- Earn interest which will be tax-deferred.
To simplify, we use the rates of a 30-year-old male in the preferred non-tobacco class with a face amount of $500,000 for 20 years. These are the best Term life insurance quotes from 18 of the most competitive life insurance companies.
- John Hancock – $306.50
- Lincoln Financial – $310.00 (TermAccel Plan)
- AIG American General – $314.00
- Transamerica – $315.00
- Protective Life – $317.27
- Banner Life – $318.99
- SBLI – $319.00
- MetLife – $319.00
- AXA Equitable – $319.00
- United of Omaha – $332.50
- North American – $335.00
- Principal National – $338.00
- Assurity Life – $365.00
After reviewing that extensive list of 13 Term life insurance companies, I believe you will agree that Lincoln Financial is a force to be reckoned with when offering competitive premiums. However, keep in mind that all life insurance companies underwrite their applications differently. This means the most applicable company should be used for each specific need and health history.
Life insurance agents like Lincoln Financial so much that this company is usually their own choice for life insurance.
Many life insurance agents in the US like working with Lincoln Financial. This is because they know the underwriting department at Lincoln Financial will go out of their way to help their clients get the lowest rates. Also, the financial stability of Lincoln National gives the agents a decisive vote of confidence.
Many years from now, Lincoln Financial should remain in a solid financial position when a death claim is reported. The company will be able to pay claims promptly and efficiently. Insurance agents have many legal liabilities in this industry, and their companies paying claims are just one of them.
Many years ago, life insurance agents wanted to give their clients premium quotes from multiple carriers. Every company had to be quoted with a rate book and calculator one at a time.
We can now compare low-cost term life insurance quotes online in less than a minute with our modern life insurance quoting tools. Finding the term life insurance with the lowest rates is now a snap.
A simple 10-minute medical prescreen can show what company would offer you the lowest life insurance rates if you have any medical conditions.
Lincoln will offer Preferred Best rates to marijuana smokers that smoke up to three times a month.
Applicants that use tobacco products such as chewing tobacco, pipes, cigars, nicotine gum, nicotine patches, and electronic cigarettes can test positive for nicotine. They can receive a standard rate class if they disclose tobacco use on their application.
Traditional cigarette use does not fall into this niche market. Lincoln has some of the lowest rates for cigarette smokers. The best life insurance rates will depend on a good health classification. For cigar smokers, if no traces of nicotine shows up in the applicant’s urine sample, a client can qualify for the best rate class available.
The applicant would have to use a maximum of 12 cigars per year. Also, the applicant can use up to 24 cigars per year to receive a preferred rate class as long as nicotine does not appear in the urine test.
Here is just a sample of how Lincoln Financial helps people with health issues:
Applicants over the age of 70 years old can receive more liberal underwriting. This is especially true if they have high cholesterol, high blood pressure, or are overweight, according to the height & weight build chart.
Lincoln has been very liberal regarding applicants with a breast or prostate cancer history. This is also due to the much higher success rate the medical profession has for treating prostate and breast cancer patients than in past years.
A super preferred rate class is also available to folks with high cholesterol with a 5.5 HDL ratio as long as the total number is below or equal to 230. However, for the applicants over 70 years of age, the total cholesterol may jump as high as 275 for people age 70 or older.
Lincoln Financial Also Offers Excellent Group Products
- Term life insurance along with accidental death and dismemberment coverage.
- Short-Term Disability Insurance
- Long-Term Disability Insurance
- Dental Insurance
- Critical Illness Insurance
- Accident Insurance
- Vision Insurance
Long Term Care and Annuities
For example, Lincoln Nation has some of the best Long Term Care provisions on the market if you are looking for protection in your later years from being confined to a nursing home.
Lincoln MoneyGuard II
Many today want to help protect their retirement savings from health-related and age-related expenses like long-term care. With the Lincoln MoneyGuard II program, you have the flexibility to prepare for the future. This is universal life insurance with an optional long-term care benefit rider, giving you a choice of premium payment options.
Unlike traditional long-term care insurance, your policy costs are set at issue and will never increase. Even if you never need care, your policy provides benefits, provided all planned premiums are paid.
Annuities, especially the fixed-rate versions, can offer an excellent investment for people who have money to invest but want to stay clear of any financial downfalls, such as Stocks and Mutual Funds. But unfortunately, many people have learned how fast you can lose money when you base your investment on the Stock Market.
Fixed Annuities, for all practical reasons, give you a designated interest rate that will never change if another financial disaster occurs in the United States.
Lincoln MYGuarantee Plus:
The Lincoln MYGuarantee Plus annuity is the fixed annuity that gives you a guaranteed interest rate from 5 to 10 years, depending on your specific needs.
Lincoln Financial is one of the most competitive companies, hands down. We constantly shop the market from our selection of over 40 trusted companies. We always make sure the company we advise our clients to apply with will be the best fit for their specific needs and budget.
Thank you for visiting our website and reading this Lincoln Financial review. I hope it has addressed most of your questions concerning this excellent choice for life insurance.
All the best,
If you have questions about the Lincoln Financial review, contact us today to help you with no cost or obligation. We are brokers that work for our clients, not the insurance companies. Our job is to help you get approved for the best policy with the lowest possible rates. You can also set up a time at your convenience to speak with us at a time that works for you.