Lincoln National Life Insurance Review

In general, Lincoln National Life Insurance, term life insurance has a range of premiums from $50 to $150 a month. However, because of the cash asset advantage, your universal life insurance is likely to be more expensive.

Pros and Cons of Lincoln National Life Insurance

Lincoln National Life Insurance Review - Lincoln Group Life Insurance Logo

Pros

  • A wide range of possibilities
  • High levels of protection
  • Requirements for income are not rigid.
  • The advantages to business
  • Strong, well-versed insurance company

Cons

  • limits on the use of some services according to age
  • There is no insurance that lasts for the rest of your life.
  • There isn’t any feedback from clients.

What affects my rate with Lincoln National?

A number of factors influence your exact rates, including:

  • Age
  • Overall health
  • Occupation and hobbies
  • Amount of coverage
  • Term length, if applicable
  • Extra benefits or riders

How to get a quote from Lincoln National life insurance

You’ll need to get in touch with customer support if you want to get started on your application or seek a quote. Here’s an example of how the procedure would go:

  1. To speak with a representative from the life insurance company, call 800-487-1485.
  2. Give your name, address, and any relevant medical information to the rep.
  3. Schedule a medical checkup and pick your desired coverage type.
  4. Send in any relevant medical or personal documentation and then sit tight for a custom quotation to appear in your inbox.
  5. If you agree, you’ll get your policy materials in the mail or by email, depending on how you choose to accept. Examine the policy in detail, and don’t hesitate to ask questions along the way.
  6. The papers and signing are now complete. The money is now due.
  7. On the designated day, begin your coverage.

What types of life insurance coverage does Lincoln National offer?

In addition to high-value term plans, Lincoln National also offers comprehensive universal life policies. Check out the different levels of protection available and make an informed decision.

  • Term 
    • Lincoln TermAccel Level Term – Provides up to $1 million in coverage for those who are 60 years old or younger.
    • Individuals over the age of 30 can get over $1 million in coverage with Lincoln LifeElements Level Term. For people over 55, this plan provides coverage of up to $500,000 per person.
  • Universal life 
    •  Lincoln LifeGuarantee UL – Allows you to adjust your premiums and death benefits at any time throughout your insurance policy’s term.
    • When both policyholders die, Lincoln LifeGuarantee SUL — a survivorship insurance with adjustable costs and benefits – pays out.
  • Indexed universal life 
    • Lincoln WealthAccumulate IUL – Earn guaranteed minimum returns on a portion of your insurance premiums.
    • Long-term death benefit for beneficiaries for 40 years or until they reach the age of 90, whichever comes first with Lincoln WealthPreserve IUL. Increase the value of your portfolio while receiving a minimum amount of guaranteed return.
  • Variable universal life 
    • Lincoln VUL One – With over 70 investment options, you can increase your cash worth while postponing taxes.
    • Optional chronic disease rider is included in the Lincoln Asset Edge VUL’s investment possibilities over the One plan. 20-year assurance against default in payments.
    • For example, Lincoln Asset Edge Exec VUL may be used to pay for the costs of an enterprise continuity plan.
    • Lincoln SVUL One – A life insurance policy that provides a death payout in the event of the policyholder’s premature death.
    • When you reach a certain amount, you can no longer make premium payments, but you can keep your benefits or get some cash.
  • New York policies
    • New York clients may choose from a wide range of product options offered by the organization.

What riders can I add to my policy?

A few riders are included in Lincoln National to assist you in looking after yourself and your loved ones.

  • Accelerated death benefit rider. If you have a terminal disease, you may be able to obtain policy benefits if you have a variable universal life insurance policy. Benefits begin to accrue on the policy start date, but you must pay an additional premium for this rider.
  • Critical illness benefits riders. Several insurance products, such as indexed universal life, allow you to use the cash growth in your policy to pay for long-term illness-related expenditures.
  • Spouse rider. There are a few firms that don’t allow you to add your spouse as a named insured to your policy. When one of you passes away, the insurance will make a payout.

Lincoln National life insurance reviews and complaints

As far as we can tell, there are no consumer reviews or complaints about Lincoln National on any of the major review sites like the BBB or Trustpilot. In addition, as of October 2020, it had no Better Company Bureau (BBB) business ratings. Lincoln National, on the other hand, has an AM Best financial grade of A+ (Superior).

About Lincoln National

Lincoln National Financial Group, named after President Abraham Lincoln, was founded in 1905 with a mission to assist individuals improve their financial well-being. To better serve its consumers, the company currently comprises a slew of subsidiaries that provide services including life insurance, retirement planning, and employee benefits to people of different ages and backgrounds.

The company will be celebrating 115 years of service in the insurance industry, as well as 25 years of great development and financial success, by the time April 2020 arrives. It came in at number 187 on our list of the year’s most useful websites in 2019. World Finance magazine ranked it the best life insurance company in the United States in 2013 and again in 2015.

You may check out our Legal and General Life Insurance Review.

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Levi Jorgensen
Levi Jorgensen is a life-long explorer. When he's not writing about life insurance, he works as an appraiser of antiques. He's based in Columbus, Ohio with his wife and 2 children.
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