Lincoln VULONE suite now offers two guaranteed minimum death benefit choices with options to lower premiums and increase cash value and death benefit protection
RADNOR, Pa, February 22, 2021 – 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.