Lincoln Announces Several Product Changes
Lincoln will be introducing the newest product to its index portfolio and pricing improvements on Lincoln LifeGuarantee UL.
On February 12, they will introduce their newest product to their index portfolio, Lincoln WealthPreserve IUL. The product features extended guarantees of 40 years or to age 90 (whichever comes first), a guaranteed interest crediting of 1% in all years, and a guaranteed minimum indexed account cap of 8.75% for the first 10 policy years. Policies can be accessed through loans with guaranteed interest loan charge rates for the duration of the policy. Product also provides choice of chronic illness rider – the new, no-cost Lincoln LifeAssure or the current Lincoln LifeEnhance.
In addition, effective February 12 Lincoln will be introducing pricing improvements on Lincoln LifeGuarantee UL which will solidify competitive level-pay lifetime guarantee in non-smoker over age 60. The majority of premium decreases are within a range of 2%-6%. Single and short pay will not see pricing changes. For states where the new pricing is approved there is a 60-day transition period which starts on February 12 and ends on April 12. Applications in underwriting and new applications received on or after February 12 will have their choice of products.