Lincoln: Underwriting Guideline Updates
Lincoln's underwriting philosophy includes a commitment to constantly reviewing and updating their guidelines to support you, your business, and our mutual clients by delivering the underwriting advantages you’ve come to expect. Effective immediately, Lincoln is pleased to implement the following changes to our medical and financial underwriting guidelines.
Lincoln will no longer require mandatory ordering of Attending Physician Statements (APS) based on age and insurance face amount applied for. With the continued accessibility and use of electronic medical data sources, all APS ordering will now be at the discretion of the underwriter.
To maintain their leading-edge underwriting position, Lincoln has completed a comprehensive review of their financial guidelines. The updates to their guidelines focus on the following categories:
- Intergenerational Wealth Transfer Guidelines: added to account for the transfer of wealth from the Baby Boomer generation to next generation and beyond. These guidelines will allow for estate growth and providing more insurance coverage for heirs than they normally would qualify for.
- Estate Growth Guidelines: adjustment to allow for more precise life expectancy projections by assessed risk class.
- Income Replacement Financial Guidelines: adjustment to now allow for greater multiples of earned income for certain age ranges, including up to 35x earned income for ages 18-40.
- Buy-Sell Agreement Guidelines: ability to now use a more competitive way to determine the value of an organization.
Lincoln's NEW Underwriting 411 video series highlights their underwriting advantages to help you meet the needs of your clients. Check it out at www.LFG.com/UW411.