Financial stability and solid customer service should certainly be among your leading considerations when selecting a life insurance company. Knowing this, how does Lincoln National Life Insurance Company measure up against the other national life insurance companies?
After more than ten decades in the insurance business, Lincoln National has earned a sound reputation, however, we will drill down into the specifics to determine what Lincoln National Life offers to prospective and current customers.
Lincoln National Life Insurance
1300 South Clinton Street
Fort Wayne, IN 46801
About Lincoln National Life Insurance
Lincoln National Life Insurance Company is a subsidiary company of the Lincoln Financial Group. Lincoln National Life was established in 1905 and is currently based in Radnor, Pennsylvania. The company has spent 25 years on the Fortune 500 list.
In 2018, the company was ranked 187 out of the top 500 on the list. It’s publicly traded on the Stock Exchange as LNC. The company also arrived at 220 on Barron’s 500 list. As of the end of March 2019, the Lincoln Financial Group has $253 billion in total assets under management.
Lincoln Financial’s operations are segregated into four product and service components: life insurance, annuities, group insurance, and retirement plan services. Lincoln Financial Group is also connected with many charitable activities.
Company Stability and Financial Ratings
Lincoln National Life Insurance Company is currently ranked 23rd on the Fortune 500 list in terms of total assets under management and is ranked 187th on the same list according to revenue. The company demonstrates excellent financial strength and as such, is equipped for meeting its commitments to its policyholders.
| Rating Service | Current Rating |
| A.M. Best | A+ |
| Fitch Ratings | A+ |
| Moody’s Investors Service | A1 |
| Standard & Poor’s | AA- |
| COMDEX Score | 90 out of 100 |
Lincoln National Life Insurance Products
Lincoln National offers all of the different types of life insurance products to meet the needs of its customers and prospective customers. Purchasing the appropriate life insurance product is a critical decision when you are looking to financially protect yourself, your family, or your business.
| Life Insurance Product | What It’s Designed For |
| Term Life Insurance | Term provides a death benefit so that a beneficiary can settle the policyholder’s healthcare and funeral costs, consumer debt, or mortgage debt among others. |
| Universal Life Insurance | Universal Life can provide the same benefits as term insurance but also has a cash account that earns tax-differed interest and can be accessed for any reason without penalty. Universal Life is considered permanent life insurance and offers flexible premium payments and a flexible death benefit. |
| Indexed Universal Life Insurance | Indexed Universal life performs the same functions as Universal Life but the cash account can be linked to market indices and interest is earned based on the performance of the indices. |
| Variable Universal Life Insurance | Variable Universal Life functions similarly to Indexed Universal Life except the cash account is directly invested in securities like stocks and bonds. |
Lincoln TermAccel Level Term Insurance
Lincoln National Life offers two types of term life insurance policies to accommodate different needs for different groups of people. The highlights of the Lincoln TermAccel Level Term Insurance are:
- Competitive rates for people ages 60 and under with face amounts of $1,000,000 or less.
- A simple and convenient phone interview application rather than a paper app that must be sent by an agent.
- TermAccel Level Term offers electronic processing for quick approvals which are delivered in a few days if no blood/urine test is required
- In some cases, the medical exam requirement will be waived.
Lincoln LifeElements Level Term Insurance
- Competitive rates for people age 30 and above with face amounts of $1,000,000 or more
- Competitive rates for people age 55 and above with face amounts of $500,000 or more
- A simple and convenient phone interview application available for faster turnaround times than the traditional paper application process
- Opportunity for no lab work if you qualify
Here are Lincoln’s actual rates for a $500,000 20-year term policy for a very healthy male and female non-smoker.
| Age of Applicant | Male Non-Smoker | Female Non-Smoker |
| 25 | $19.95 | $16.32 |
| 30 | $20.30 | $17.19 |
| 35 | $21.70 | $18.68 |
| 40 | $30.32 | $25.55 |
| 45 | $49.44 | $38.98 |
| 50 | $74.73 | $55.30 |
Rates are subject to underwriting. For an accurate quote for your actual age, click on the term insurance quote button on the right side of the page.
One of the best things about the Lincoln National Term product is the conversion privilege built into every policy. The conversion privilege allows the policyholder to convert all or a portion of their term life insurance to permanent life insurance without regard to insurability.
This means you can convert your term coverage instead of renewing at a much higher rate and at the same time reduce your death benefit if it’s appropriate.
Available riders
- Accelerated death benefit – If you’ve been diagnosed with a terminal illness and have less than six months to live, Lincoln National will advance you up to 50% of the death benefit (up to a maximum of $250,000) so you can deal with end of life arrangements for your family.
- Child protection rider – The child protection rider allows the policyholder to insure all dependent children for up to $15,000. This coverage ends on the child’s 25th birthday.
- Disability waiver of premium – To help keep your important life insurance in force if you become totally disabled, the insurance company will waive the premiums until age 65 or to the end of the policy term (after a four-month waiting period).
Universal Life Insurance (UL)
Universal Life insurance provides permanent life insurance combined with a cash value component. Several policy options and optional riders are available with the UL policy from Lincoln National so applicants can individualize the coverage to accommodate your specific needs and budget.
Unlike term life insurance which cannot be changed once the policy is issued, UL policies are flexible. A policyholder can reduce or increase their monthly premiums or death benefit to accommodate life events and not have to worry about canceling and re-writing coverage.
Indexed Universal Life (IUL)
The Lincoln National Indexed Universal Life policy is similar to traditional universal life but the cash value account can be linked to one or more market indices and earn interest based on the performance of each market index. The important point with the IUL is that the cash is linked to the stock market but not directly invested in the stock market. This allows you to enjoy the earnings from the market but not actually take part directly.
Moreover, your IUL policy has a Cap and Floor rate. The Cap rate represents the highest amount of interest you can earn at the end of each crediting period but that Cap is offset by the Floor rate which prevents your cash account from losing money during a down market.
Variable Universal Life (VUL)
The Variable Universal Life policy is similar to an IUL policy except for the funds in your cash account ARE directly invested in stocks and bonds. Although VUL policies do not have a Cap or Participation rate which can limit earnings, the VUL is subject to loss if the investments made on your behalf do not perform well.