Lincoln Life Term Insurance: Can You Sell Your Policy?

Lincoln Financial Group offers a range of life insurance policies, including term life insurance and universal life insurance. Term life insurance provides temporary coverage for a specific time period, such as 10, 15, 20, or 30 years, while universal life insurance offers permanent coverage with flexible payments and guaranteed death benefits. Lincoln Financial's term life insurance can be purchased over the phone, and the company also offers a universal life policy with long-term care benefits. However, applicants must work with a financial advisor to obtain a quote and purchase coverage. This article will explore the different types of life insurance policies offered by Lincoln Financial, their features, and the process of obtaining coverage.

Lincoln Financial's term life insurance rates

Lincoln Financial offers two types of term life insurance policies: Lincoln LifeElements Level Term and Lincoln TermAccel Level Term. The coverage for the former starts at $250,000 and ranges from $100,000 to $2.5 million for the latter. The policies offer term lengths of 10, 15, 20, or 30 years, and are available to applicants between the ages of 18 and 80, depending on the policy.

The rates for these policies depend on factors such as age, coverage amount, gender, and type of coverage. For example, a 30-year-old female non-smoker in good health can expect to pay around $61.28 per month for a 20-year term policy with $500,000 in coverage, while a male non-smoker of the same age and health status would pay approximately $74.18 per month for the same policy.

Lincoln Financial's universal life insurance

Lincoln Financial Group offers a range of universal life insurance policies, which provide permanent coverage with flexible payments and a guaranteed death benefit. There are 10 universal life policies in total, including four indexed universal life and four variable universal life policies.

The universal life policies offered by Lincoln Financial include:

• Lincoln WealthAccumulate 2 IUL (2020)
• Lincoln WealthPreserve 2 IUL (2020)
• Lincoln WealthPreserve 2 Survivorship IUL (2022)
• Lincoln VUL ONE (2021)
• Lincoln AssetEdge VUL (2022)
• Lincoln SVUL ONE (2021)

These policies offer flexible premiums and a wide range of investment options. The minimum coverage for these policies starts at $100,000, while some policies have a maximum coverage of $500,000, such as the long-term care policies. The maximum age to purchase a policy varies, with some policies only available to those up to 80 years old.

Lincoln Financial's universal life policies offer a tax-deferred cash value that the insured can access during their lifetime. The policies can be customized with optional riders, such as accelerated benefits, additional cash value growth opportunities, and a rider for long-term care.

One unique feature of Lincoln Financial's universal life insurance is the ability to convert term policies to universal life policies without a medical exam or additional fees. This flexibility can be beneficial for those who initially opt for term life insurance but later decide they want permanent coverage.

Lincoln Financial's survivorship life insurance policies

Lincoln Financial offers survivorship life insurance policies that insure two lives under one policy and provide a payout when both people have passed away. This type of policy can be useful for estate planning, as it allows beneficiaries to use the money to pay estate taxes or other financial obligations.

Lincoln Financial's survivorship life insurance policy is called Lincoln SVULONE. This policy is a variable universal life insurance product, which means it offers flexible payments and a guaranteed death benefit. It also offers tax-deferred earnings and the ability to vary premium payments and death benefit amounts.

Variable universal life insurance policies like Lincoln SVULONE allow the policyholder to select sub-accounts for cash value investments. With the right investments, this type of policy can offer significant growth potential. However, due to the complex nature of these policies, the policyholder may need to actively manage the investment accounts. Additionally, these policies may come with higher-than-usual fees.

Lincoln Financial's survivorship life insurance policy is available in all U.S. states except New York and can be purchased through independent brokers, financial advisors, or agents who sell Lincoln Financial products.

Lincoln Financial's variable universal life insurance

Lincoln Financial Group offers a range of life insurance policies, including term life, indexed universal life, and variable universal life insurance. They have four variable universal life policies.

Variable universal life insurance provides permanent coverage with flexible payments and a guaranteed death benefit. Lincoln Financial's variable universal life insurance policies offer flexible premiums and a wide range of investment options. The specific choices available depend on the chosen policy.

The policies offer a tax-deferred cash value that the insured can access during their lifetime. The minimum coverage for these policies starts at $100,000, while some policies have a maximum coverage of $500,000, such as the long-term care policies. The maximum age to purchase a policy varies, with some policies only available to those up to 80 years old.

To purchase Lincoln Financial's life insurance policies, individuals must work with one of the company's financial advisors. The company's website can be used to find a list of agents, and an online form can be filled out to initiate contact with an agent.

Lincoln Financial's long-term care riders

Lincoln Financial offers a range of life insurance policies, including term life, indexed universal life, and variable universal life insurance. While the company does not offer whole life insurance policies, its term life policies can be converted to permanent policies without a medical exam or additional fees.

The long-term care rider can also be found in the MoneyGuard Fixed Advantage policy, which is a universal life insurance policy. This rider allows beneficiaries to choose between receiving the death benefit or increasing their policy amount. Additionally, the Lincoln MoneyGuard II policy offers optional riders for extension of benefits and inflation protection, providing added flexibility and protection.

While Lincoln Financial does not provide pricing information online, their long-term care insurance products offer a range of features, including no elimination periods, inflation protection, and concierge care coordination. The company's financial stability, with an A+ rating from Standard and Poor's, further adds to the appeal of their long-term care riders.

Frequently asked questions