{"id":13765,"date":"2019-02-11T14:46:03","date_gmt":"2019-02-11T19:46:03","guid":{"rendered":"http:\/\/lifeinsurance-orleans.ca\/Life-Insurance-Blog\/lincoln-financials-newest-life-products-address-greater-flexibility\/"},"modified":"2019-02-11T14:46:03","modified_gmt":"2019-02-11T19:46:03","slug":"lincoln-financials-newest-life-products-address-greater-flexibility","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/02\/11\/lincoln-financials-newest-life-products-address-greater-flexibility\/","title":{"rendered":"Lincoln Financial\u2019s Newest Life Products Address Greater Flexibility"},"content":{"rendered":"<div>\n<p><strong>RADNOR, PA, February 11, 2019 <\/strong>\u2013 In response to increasing consumer preference for holistic financial solutions that meet multiple planning needs, and demand for ease and speed of business, today Lincoln Financial Group introduced several new life insurance products that deliver greater value and flexibility, as well as digital underwriting enhancements that simplify and expedite the buying process.<\/p>\n<p>The new products and services reflect Lincoln\u2019s commitment to advancing the traditional life insurance business model, an important step to meet the evolving expectations of clients and advisors, as recognized in a recent report from Ernst and Young, \u2018What Should Insurers Do Today to Prepare for Tomorrow.\u2019 Among the strategies to \u2018futurize\u2019 the business model, the report cites the need for products that address all aspects of financial wellness, including protection, retirement and health, and digitized and enhanced customer touchpoints.<\/p>\n<p>\u00a0<\/p>\n<p><strong>New and Enhanced Products<\/strong><\/p>\n<ul>\n<li><em>Lincoln WealthAccumulate\u00ae<\/em> Indexed Universal Life (IUL) 2019 \u2013 For clients needing life insurance that offers death benefit protection and the flexibility to meet a wide range of financial needs, such as supplemental retirement income or business protection, Lincoln has launched the next generation of its <em>WealthAccumulate<\/em> IUL policy. <em>WealthAccumulate<\/em> IUL offers significant cash value growth opportunities linked to S&#038;P 500 market index performance, with indexed account choices that can be tailored to a client\u2019s preferences for return potential and downside protection. New features include an additional indexed account option providing higher return potential than previously available, and the option to have premiums returned after a defined period assuming all premium requirements have been met.<\/li>\n<\/ul>\n<p><em>\u00a0<\/em><\/p>\n<ul>\n<li><em>Lincoln WealthPreserve\u00ae <\/em>IUL \u00a0\u2013 For clients in need of life insurance offering cash value growth potential, but with longer-term death benefit protection, Lincoln has enhanced its <em>WealthPreserve <\/em>IUL product, now available with lower premiums for applicants. <em>WealthPreserve <\/em>IUL combines guaranteed death benefit protection for up to 40 years or to age 90, and cash value growth opportunities linked to S&#038;P 500 market index performance.<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<ul>\n<li><em>Lincoln Care Coverage<\/em><sup>SM<\/sup> Accelerated Benefits Rider \u2013 To help clients approaching or in retirement protect savings from potential long-term care expenses, including those incurred from temporary or permanent conditions, Lincoln has introduced the new <em>Lincoln Care Coverage <\/em>rider, available now on <em>Lincoln VUL<sup>ONE<\/sup><\/em> (2014) and <em>Lincoln LifeGuarantee\u00ae<\/em> UL (2013) policies.<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<ul>\n<li><em>MoneyGuard\u00ae<\/em> II Pricing Adjustments \u2013 For its popular <em>MoneyGuard<\/em> II product, a universal life (UL) insurance solution offering clients multiple benefit options, including a death benefit and reimbursement of long-term care expenses, Lincoln has made pricing adjustments, that on average, will decrease premium prices by three percent for applicants.<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<ul>\n<li>Term Pricing Enhancements \u2013 For millennials who may be approaching life milestones such as starting a family, or Gen Xers and Baby Boomers who may be underinsured or in need of death benefit protection for just a certain number of years, Lincoln has reduced pricing on its Term insurance offerings for applicants.<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<p>\u201cConsumers and advisors are looking for insurance products that offer financial planning flexibility, and buying experiences more consistent with other industries,\u201d said Mike Burns, senior vice president, Life Solutions, Lincoln Financial Group. \u201cWith these evolving expectations, Lincoln continues to transform the life insurance business model, delivering policies that go beyond a death benefit \u2013 providing \u2018living benefits\u2019 that help clients achieve financial goals in various phases of life. And we\u2019re making it more convenient to purchase and own those policies with simpler, faster, high-tech buying and service experiences.\u201d<\/p>\n<p>\u00a0<\/p>\n<p><strong>Underwriting Process Enhancements<\/strong><\/p>\n<ul>\n<li>Automated Underwriting Expansion \u2013 To provide a more convenient and faster underwriting experience, including the potential to issue policies in as little as 24 hours, Lincoln\u2019s automated underwriting process is now also available (via the <em>LincXpress\u00ae<\/em> tele-interview process) with <em>Lincoln LifeElements\u00ae<\/em> Level Term, and soon, all single-life UL, IUL and Variable UL (VUL) products. Eligible cases will use an automated underwriting approach leveraging technology to process and verify application information and make underwriting decisions, without compromising risk assessment.<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<ul>\n<li>Unified Application \u2013All Lincoln Term, UL, IUL and VUL policies, excluding <em>MoneyGuard<\/em>, will now use the same application, integrating all application processes into one streamlined and consistent experience for clients and advisors.<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<ul>\n<li>Case tracker \u2013 To help advisors keep clients informed and reduce administrative tasks, Lincoln\u2019s online portal allows an advisor to quickly see the status of a client\u2019s case in the underwriting &#038; new business process, and any outstanding requirements needed to process the case.<\/li>\n<\/ul>\n<p>The post Lincoln Financial\u2019s Newest Life Products Address Greater Flexibility appeared first on InsuranceNewsNet.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>RADNOR, PA, February 11, 2019 \u2013 In response to increasing consumer preference for holistic financial solutions that meet multiple planning needs, and demand for ease and speed of business, today Lincoln Financial Group introduced&#46;&#46;&#46;<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/13765"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=13765"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/13765\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=13765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=13765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=13765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}