Lincoln VULONE suite now offers two guaranteed
minimum death benefit choices with options to lower premiums and
increase cash value and death benefit protection.
Lincoln Financial Group (NYSE: LNC) has launched its latest
Lincoln VULONE and Lincoln Survivorship VULONE (SVULONE) variable
universal life (VUL) insurance offerings. The new VULONE products
offer two guaranteed minimum death benefit choices so clients can
tailor their policy to their specific needs - from the cost of the
coverage to the length and amount. They are now also available with
a new Bonus Rider for enhanced cash value growth opportunities that
can grow the policy death benefit beyond the initial amount or be
accessed for future needs.
“In recent years, VUL policies have emerged as a strong choice
for those looking for guaranteed lifetime death benefit protection
and the opportunity to take advantage of market growth,” said
Stafford Thompson, Jr., senior vice president of Life Product
Management at Lincoln. “With our latest VULONE offerings, Lincoln
is bringing greater optionality and flexibility to clients so they
can design the policy that works best for them, whether they need
protection for life, a balance of protection and cost or additional
growth potential.”
Lifetime Guaranteed Minimum Death Benefit (GMDB)
Options
Lincoln VULONE and Lincoln SVULONE both offer a lifetime
guaranteed minimum death benefit (GMDB) option which provides
beneficiaries 100 percent of the initial GMDB. Alternatively,
clients can select a premium reduction option which provides 100
percent of the initial GMDB up to age 90, and 50 percent of the
initial GMDB at age 90 and beyond. With both options, the minimum
death benefit is guaranteed regardless of market performance.
“Lincoln’s next generation VULONE products can help address a
wide variety of financial goals for a broad spectrum of clients,
including pre-retirees still in their earning years or those
already enjoying retirement,” said Andy Bucklee, senior vice
president and head of Life & Executive Benefits Distribution
for Lincoln Financial Group. “In addition to offering families
peace of mind with the death benefit options, the VULONE products
empower clients and financial professionals to develop advanced
life insurance strategies ranging from retirement and estate
planning to business insurance needs.”
Market Growth Opportunities
The VULONE suite offers clients more than 75 market-driven
variable investment options for tax-efficient cash accumulation
that can be accessed later in life for needs such as retirement
income or funding college tuition. For those seeking greater growth
opportunity, the products now offer a Bonus Rider which allocates a
portion of the cash value to purchase S&P 500 options. If the
cash value reaches a predetermined threshold due to strong
investment performance, the policy’s death benefit amount could
exceed the initial death benefit amount for increased
protection.
Long-Term Care (LTC) Protection
For clients who have a primary need for death benefit protection
but are also concerned about potential long-term care (LTC)
expenses later in life, Lincoln VULONE and Lincoln SVULONE include
the option to add an LTC Rider that provides reimbursement for
long-term care expenses, including care received in a facility or
in the home.
A Broad Suite of VUL Policies
The enhanced VULONE products complement the Lincoln AssetEdge®
and Lincoln AssetEdge® Exec VUL products for those prioritizing
accumulation and distribution with shorter duration death benefit
protection.
Last week, Lincoln also introduced a variable universal
life-based version of its new MoneyGuard product, MoneyGuard Market
AdvantageSM.
About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help
people take charge of their financial lives with confidence and
optimism. Today, more than 17 million customers trust our
retirement, insurance and wealth protection expertise to help
address their lifestyle, savings and income goals, and guard
against long-term care expenses. Headquartered in Radnor,
Pennsylvania, Lincoln Financial Group is the marketing name for
Lincoln National Corporation (NYSE:LNC) and its affiliates. The
company had $303 billion in end-of-period account values as of
December 31, 2020. Lincoln Financial Group is a committed corporate
citizen included on major sustainability indices including the Dow
Jones Sustainability Index North America and FTSE4Good. Dedicated
to diversity and inclusion, we earned perfect 100 percent scores on
the Corporate Equality Index and the Disability Equality Index, and
rank among Forbes’ World’s Best Employers, Best Large Employers,
Best Employers for Diversity, and Best Employers for Women, and
Newsweek’s Most Responsible Companies. Learn more at:
www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn,
and Instagram. Sign up for email alerts at
http://newsroom.lfg.com.
Disclosures and Important Information
With any VUL product, certain fees and costs are involved,
including monthly cost of insurance, administrative expense and
premium load charges, as well as daily charges on assets invested
in the variable subaccounts for mortality and expense risk, and
asset management fees. Please consult the prospectus or ask your
financial advisor for more detailed information.
The S&P 500 Index is a product of S&P Dow Jones Indices
LLC, a division of S&P Global, or its affiliates (“SPDJI”), and
has been licensed for use by The Lincoln National Life Insurance
Company. Standard & Poor’s® and S&P® are registered
trademarks of Standard & Poor’s Financial Services LLC, a
division of S&P Global (“S&P”); Dow Jones® is a registered
trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and
these trademarks have been licensed for use by SPDJI and
sublicensed for certain purposes by The Lincoln National Life
Insurance Company. The Lincoln National Life Insurance Company’s
product is not sponsored, endorsed, sold or promoted by SPDJI, Dow
Jones, S&P, their respective affiliates, and none of such
parties make any representation regarding the advisability of
investing in such product nor do they have any liability for any
errors, omissions, or interruptions of the S&P 500 Index.
Distributions are taken through loans and withdrawals which
reduce a policy’s cash surrender value and death benefit and may
cause the policy to lapse. Loans are not considered income and are
tax-free. Withdrawals and surrenders are tax-free up to the cost
basis, provided the policy is not a modified endowment contract
(MEC). A MEC policy is one in which the life insurance limits
exceed certain high levels of premium, or the cumulative premium
payments exceed certain amounts specified under the Internal
Revenue Code. For policies that are MECs, distributions during the
life of the insured, including loans, are first treated as taxable
to the extent of income in the contract, and an additional 10%
federal income tax may apply for withdrawals made prior to age
59½.
This material was prepared to support the promotion and
marketing of investment and insurance products. Lincoln Financial
Group® affiliates, their distributors, and their respective
employees, representatives, and/or insurance agents do not provide
tax, accounting, or legal advice.
Lincoln VULONE (2021) is issued on policy form
20-VUL689/20NLER-620 and state variations by The Lincoln National
Life Insurance Company, Fort Wayne, IN, and distributed by Lincoln
Financial Distributors, Inc., a broker-dealer. The Lincoln National
Life Insurance Company does not solicit business in the state of
New York, nor is it authorized to do so.
All guarantees and benefits of the insurance policy are subject
to the claims-paying ability of the issuing insurance company. They
are not backed by the broker-dealer and/or insurance agency selling
the policy, or any affiliates of those entities other than the
issuing company affiliates, and none makes any representations or
guarantees regarding the claims-paying ability of the issuer.
Lincoln variable universal life insurance is sold by
prospectus. Carefully consider the investment objectives, risks,
and charges and expenses of the policy and its underlying
investment options. This and other important information can be
found in the prospectus for the variable universal life policy and
the prospectus for the underlying investment options. Prospectuses
are available upon request and should be read carefully before
investing or sending money. For a current prospectus, please call
800-444-2363 or go to www.LincolnFinancial.com.
Policy values will fluctuate and are subject to market risk and
to possible loss of principal. Products and features are subject to
state availability. Limitations and exclusions may apply. Not
available in the state of New York
It is possible coverage will expire when either no premiums are
paid following the initial premium, or subsequent premiums are
insufficient to continue coverage.
LCN: 3455337-021721
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version on businesswire.com: https://www.businesswire.com/news/home/20210222005139/en/
Jay Russo Lincoln Financial Group 860-466-1324 E-mail:
jay.russo@lfg.com
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