Lincoln Financial Life Insurance: How Their Products & Underwriting Compare

If you’re shopping for life insurance and wondering if Lincoln Financial is a good fit, we’ve broken it down for you here.

In this review, we’ll discuss Lincoln’s life insurance policies, pricing, underwriting, customer reviews, and how it compares to other life insurance companies so you can make an informed decision.

Lincoln Financial Group has been around since 1905, serving over 17 million customers. They’ve earned a solid reputation in the industry, but is Lincoln the best choice for your life insurance needs? This review will discuss what Lincoln does well and where it falls short.

• Founded: 1905
• AM Best Rating: “A” (3rd highest)
• Moody’s Rating: “A2” (6th highest)
• S&P Rating: “A+” (5th highest)
• Best for:
  • Coverage amounts over $500,000
  • High-risk medical profiles
  • Hybrid life + long-term care buyers
• Competitors: Prudential, Banner Life, Corebridge Financial, Pacific Life, John Hancock

Yes, especially if you’re looking for:

• Yes, especially if you’re looking for:
  • Higher Face Amounts (over $500,000)
  • Accelerated Underwriting for Healthy Clients
  • High-Risk Life Insurance – Great with cancer histories and heart conditions.
• Market Rankings:
  • #1 in Hybrid Life/LTC Sales
  • #9 in Term Life Sales
  • #9 in Total Life Sales

Note for NY Residents – Lincoln Life & Annuity Company of NY is available. Compare to other companies like Guardian, NY Life, and Mass Mutual.

Solutions available include term and permanent life insurance.

Lincoln offers two term life insurance products – LifeElements and TermAccel.

• Term Lengths: 10, 15, 20 & 30 years
• Minimum Coverage: $250,000
• Underwriting: Full Medical Underwriting
• Best for: High Face Amounts and Complex Medical Histories.
• Riders Available:
  • Accelerated Benefits Rider
  • Children’s Level Term Rider
  • Waiver of Premium Rider

• Term Lengths: 10, 15, 20 & 30 years
• Minimum Coverage: $100,000
• Underwriting: Accelerated (lab-free for qualified applicants)
• Best for: Healthy individuals looking for a fast, affordable policy.
• Riders Available:
  • Accelerated Benefits Rider
  • Children’s Level Term Rider
  • Waiver of Premium

Choosing Between the Two:

• If pricing is the same, choose LifeElements, which has more flexible underwriting.
• If you are young and healthy, TermAccel offers a faster approval process.

Accelerated underwriting is available with other companies, including Prudential, Protective, Banner Life, and Symetra.

In addition to term life, Lincoln offers universal life insurance policies, but not whole life.

• Best for: Long-term death benefit protection
• Issue Ages: 20-80
• Minimum Coverage: $100,000
• Indexing options: S&P 500, Fidelity AIM Dividend Index
• Available Riders:
  • Chronic & Terminal Illness Accelerated Benefits
  • Care Coverage
  • Disability Waiver
  • Overloan Protection

• Best for: Building cash value and supplemental retirement income
• Issue Ages: 20-80
• Minimum Coverage: $100,000
• Indexing Options: S&P 500, Fidelity AIM Dividend Index
• Available Riders: Similar to the WealthPreserve 2 policy

Which One’s Right for You?

• Want a policy focused on long-term coverage? Go with WealthPreserve.
• Want growth potential and cash accumulation? Choose WealthAccumulate

Other companies that compare to Lincoln include North American and John Hancock.

MoneyGuard – Hybrid Life & Long-Term Care Insurance

One of Lincoln’s most popular policies, MoneyGuard, is a universal life insurance policy with long-term care benefits. We dedicated an entire guide to this policy – MoneyGuard Review.

Other companies that offer similar services include Nationwide.

• Accelerated Benefit Rider – Access a portion of your death benefit if terminally ill.
• Children’s Term Rider – Up to $15,000 coverage for children aged 15 days to 18 years.
• Waiver of Premium Benefit Rider – Premiums waived if the insured becomes disabled

Rider availability depends on the product, your age, health, and state of residence.

Lincoln is price-competitive when:

• You’re applying for $500,000+ in coverage.
• You’ve had cancer, diabetes, or heart disease.
• Cigar smokers and tobacco chewers (non-smoker rates are available)

Pricing depends on age, term length, health profile, and more. Lincoln’s sweet spot is healthy-to-moderate-risk individuals needing higher face amounts.

Here’s what you need to know about Lincoln’s underwriting process.

• Ages: 18-60
• Coverage: $100,000 – $2.5 million
• Term Lengths: 10, 15, 20, 30 years
• Medical Exam: None for qualifying applicants
• Approval Time: 1-2 days

Best for: Healthy individuals who want fast approval without a medical exam.

• Better for higher-risk applicants or policies over $2.5 million.
• Lincoln is strong in high-risk underwriting for:
  • Cancer survivors
  • Heart conditions
  • Hepatitis
  • Tobacco & Cigar users

• Pros:
  • Strong financial ratings (A+ from S&P, A from AM Best)
  • Fast approval for healthy applicants with TermAccel
  • Competitive for high-risk underwriting
  • Top-ranked hybrid life/LTC product (MoneyGuard)
• Cons:
  • No whole life insurance is available
  • Stricter underwriting for TermAccel vs LifeElements
  • Limited coverage options in New York.

• Phone: 800-487-1485
• Website: Here
• Mailing Address: PO Box 21008, Greensboro, NC 27420
• Overnight: 100 North Greene St., Greensboro, NC 27401

Lincoln Financial is a strong option for individuals seeking affordable term life insurance, flexible universal life insurance, or a hybrid long-term care solution.

With competitive rates for high face amounts, strong financial stability, and excellent underwriting for high-risk applicants, Lincoln is worth considering.

The best way to know if Lincoln Financial is right is to compare rates and policy options with those of other top insurers.

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