Effective February 11, 2019: Exciting Product Enhancements from Lincoln

02-11-2019

1.  Lincoln LifeElements® Level Term - Reprice 02/11/19

  • Lincoln Life Elements Level Term offers both a traditional paper application process and a streamlined Tele-App process for electronic and paper ticket submissions.
  • Premium updates include decreases only.  Goals of the reprice includie being a "top 3 carrier" in the following non-tobacco core cells for all term periods:
    • Ages 55 and above for face amounts of $500,000 and above
    • Ages 30 and above for face amounts of $1,000,000 and above
  • Transition Guidelines - for states that are approved at rollout, there is a 30-day transition period which beings Feb. 11, 2019 and ends on March 13, 2019.  During the transition period:
    • New applications received and applications currently in underwriting will automatically receive the lowest rates available.  A request to use the lower rates will not be required.  If the application had been submitted with premium using higher rates, the difference will automatically be refunded.
    • For policies already issued Lincoln will accept a written request to change to the new rates
    • For policies already placed Lincoln will not allow rewrites for the new rates
    • For LincXpress Tele-App cases a complete ticket and required soliciation forms must be received within the same transition period outlined above
    • For states approved after rollout the above will automatically apply based on the availability date

2. Lincoln TermAccel® Level Term - Pricing Improvements 02/11/19

Lincoln TermAccel offers an entirely electronic, streamlined Tele-App process with fully automated underwring and no APS requirement.

  • Goals of the reprice include being a "top 3 carrier" in the following non-tobacco core cells for all term periods ages 30-60 and face amounts of $250,000 - $1,000,000
  • Premium updates include decreases only
  • Transition Guidelines - for states that are approved at rollout, there is a 30-day transition period which beings Feb. 11, 2019 and ends on March 13, 2019.  During the transition period:
    • New applications received and applications currently in underwriting will automatically receive the lowest rates available.  A request to use the lower rates will not be required.  If the application had been submitted with premium using higher rates, the difference will automatically be refunded.
    • For policies already issued Lincoln will accept a written request to change to the new rates
    • For policies already placed Lincoln will not allow rewrites for the new rates
    • For states approved after rollout,  the above will automatically apply based on the availability date. Lincoln TermAccel is not available in New York.

3.  Available 02/11/19: A new IUL portfolio designed to be industry leading with choice and flexibility! 

  • Lincoln WealthAccumulate® IUL (2019) RUN THE NUMBERS— You’ll find highly‐competitive account values, distributions and targets with an IUL that’s ideal for supplementing retirement income or protecting a business with exceptional illustrative performance! Clients can choose and change accounts for growth potential and distributions · A new 4th Indexed Account designed for maximum growth potential: Perform Plus · A Positive Performance Credit as a bonus for cumulative positive returns · A new Return of Premium Rider (coming soon)
  • Lincoln WealthPreserve® IUL (2017) – 02/11/19 TAKE ANOTHER LOOK— You’ll find improved premiums, including carry premiums and premiums to guarantee to the earlier of 40 years or age 90! It’s more competitive and offers more to clients, such as:  Addition of non guaranteed 55% Index Credit Enhancement (multiplier) ·  8.75% guaranteed cap for 10 years · 1% guaranteed floor
  • Lincoln WealthAdvantage® IUL will continue to be available until April 30, 2019

4.  New Lincoln Care Coverage ABR—a life insurance rider offering LTC expense protection Available on Lincoln VULONE(2014) and Lincoln LifeGuarantee® UL (2013) on Feb. 11, 2019

  • Designed to meet the growing demand to cover temporary conditions and LTC expenses, with a primary goal of death benefit protection, this rider complements LincolnMoneyGuard solutions and shares several features
    • A broad array of covered services
    • Reimbursement for qualified long‐term care costs
    • A Couples Discount
    • Lincoln Concierge Care Coordination
  • Lincoln Care Coverage will replace the Lincoln LifeEnhance®ABR (LEABR) in approved states. Lincoln LifeAssure® ABR (LAABR) and the basic ABR will remain available, where approved.

5. Lincoln MoneyGuard® II (2019) ‐ Pricing Updates Available as of 02/11/19

Lincoln has applied a pricing update to the current MoneyGuard II (2017) product.  The pricing updates consist of an overall average decrease of 3%, which will continue to put them at #1 in the hybrid marketplace in over 80% of our sales opportunities.  Lincoln is targeting two growth segments for pricing improvements:

  • Females and males with Couples Discount – The single premium price is decreasing on average 3%, with a range of ‐1% to ‐12%
  • Flexible premiums for males are decreasing on average 3%, with a range of ‐2% to ‐8%

While most of the sales opportunities will see a decrease in price, there are some areas, including a number in the female flex pay categories, that will have pricing increases as part of this update.

 

Please contact us for more information!  1-800-792-6795