Lincoln National Life Insurance Company is one of several sister organizations underneath the umbrella of Lincoln National Corporation, more commonly known by their marketing name, Lincoln Financial Group. A company with a provenance steeped in the U-S presidency, Abraham Lincoln’s son, Robert Todd Lincoln, founded it in 1905. Lincoln Financial Group has been working for decades to provide honest, dependable financial services to help people feel in control, confident, and prepared for their futures. With an optimistic focus on creating value that caters to unique customer needs, Lincoln Financial Group provides the expertise and support that, when added together, result in one of the best financial service companies in the United States, especially when it comes to life insurance.
Lincoln National Life Insurance Company has become a forerunner in financial strength, winning the World Finance Global Insurance award for Best Life Insurance Company in America three years in a row (2015, 2016, and 2017). As of March 2018, they rank high with all financial strength rating agencies: 2nd highest with A.M. Best, 4th highest with Standard & Poor’s, and 5th highest with both Fitch and Moody’s.
Lincoln National is a company with integrity. You can trust Lincoln National with your information as they highlight cybersecurity as one of their top priorities. They partner with their customers to ensure all their information is kept private and secure, protecting their accounts and offering a reimbursement policy for any cyber-crime related losses. There’s also an emphasis on diversity and inclusion, both for employees and for customers. This is evident in the variety of services and products offered to meet the needs of people from all different backgrounds, in all different stages of life, not discriminating based on age, race, gender, spiritual background, or political beliefs.
Lincoln TermAccel Level Term: Lincoln offers this term life insurance option for those aged 60 and under, seeking a face value of $1,000,000 or less. There’s a simple phone interview application, and all processing is done electronically, enabling many applicants to get approval within a couple of days if no lab work is required.
Lincoln LifeElements Level Term: Lincoln offers this term life insurance product for those aged 30 and up seeking a face value of $1,000,000 and up, or for people age 55 and up seeking $500,000 or more. There’s also a brief phone interview, and certain applicants may qualify for no exam or lab work.
Supplemental benefits offered with both Lincoln TermAccel AND Lincoln LifeElements include:
Universal life insurance is a type of permanent life insurance with a cash value accumulation, flexible premiums, death benefit flexibility while in force, and is tax-deferred. Lincoln National Life Insurance Company offers six different Universal life products and three different Indexed Universal Life products (although many are not available in the state of New York).
Additional options offered for Lincoln National’s universal life insurance products include:
Much like universal life insurance, variable universal life includes all the same benefits with the added factor of being able to choose how to invest your premiums. Lincoln National offers a wide array of variable life insurance products:
The Lincoln National Insurance Company website offers plenty of “Fact Sheets” detailing all the life insurance products they offer, giving you a clear understanding of what each product can do for you. Just click the product you want to learn more about and download the fact sheet to get all the details you need to make an informed decision.
Lincoln National also offers workplace life insurance policies. Employers can choose from Term Life Insurance products, with the option of adding AD&D coverage (Accidental Death and Dismemberment). The great news for employees with this coverage is if they leave the company, they can keep their coverage with Lincoln National, or even convert coverage to an individual life policy, without needing to do a medical exam. They also state that if an employee becomes unable to work for more than six months, they’ll waive the premium.
|Type of Coverage||Temporary||Permanent||Permanent|
|Payment from Policyholder||Fixed Premium||Flexible Premium||Flexible Premium|
|Tax-Deferred Growth Potential||No||Yes||Yes|
|Dependent on Investment Performance||No||No||Yes|
|Death Benefit Guarantee Options||Yes, within term only||Yes||Yes|
Though variety is always a good thing, trying to decide which life insurance product is actually right for you can be a daunting and overwhelming task. Thankfully, Lincoln National Life Insurance Company offers plenty of great tools right on their website to help you get started:
Lincoln Financial Group offers a variety of budget planning tools for savings, insurance, retirement, and even debt repayment as part of their mission to equip you to be in control of your finances and confident about your future. They even offer a 'Questionnaire' to get you started on the right track of your financial journey. They’ll ask you questions such as:
It then gives you a customized results page to assist you in your first steps.
|Client Profile (Pennsylvania)||Annual Premium with Lincoln National Life Insurance|
|50/year old Male, Non-Smoker, 20-year term with $500,000 face value||$899|
|40/year old Female, Non-Smoker, 20-year term with $500,000 face value||$435|
There are plenty of customer service resources specifically for life insurance found on the Lincoln Financial website. Customers can easily search for a life insurance advisor in their area with their advisor search page. They can use the chat feature to speak with a representative as they’re browsing insurance products or find answers to questions using the “FAQ” tab. Other tabs provide resources like contact information, finding a specific life insurance form, or starting a life insurance claim online. Overall Lincoln National life insurance company’s website is designed to cater to the customer’s own financial needs. They equip their customers with videos, blogs, and other tools to help them make the best choice for the best plan, including when they’re shopping for life insurance.
Now that you have read the review on Lincoln National Life Insurance Company, it's time for some comparison shopping. Getting online life insurance quotes from different carriers gives you an option to choose the company that best suits your needs.