Lincoln Financial Group is a large insurance and financial corporation. It is a Fortune 500 company that provides a very diverse array of financial services and solutions to its business and consumer clients.
The company has in excess of 11,000 employees and it is headquartered in Radnor, Pennsylvania.
The name Lincoln Financial Group is actually the marketing name for Lincoln National Corporation, as well as its affiliates. The company’s shares are actively traded on the New York Stock Exchange under the symbol LNC.
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History
Lincoln Financial was founded back in 1905 – and it has thrived and grown throughout the past century. Today, the company holds very strong positions in the financial services industry, being #232 on the 2014 Fortune 500 list in terms of company revenue, and #26 in terms of assets.
Lincoln is also listed as #218 on Barron’s 500 2014 list for the most growth in revenue, as well as for the most cash returns.
As of the third quarter of 2014, Lincoln Financial reported to have $215 billion in assets under management, with a total adjusted statutory capital of roughly $8.3 billion.
This places the company in a solid fourth place for all life and health insurance companies by revenue. However, Lincoln is ranked #1 for both total life insurance sales, as well as for variable universal life sales, according to LIMRA’s YTD rankings as of June 30, 2014.
Products Offered By Lincoln Financial
Lincoln Financial Group offers a wide variety of financial and insurance products for both businesses and consumers. These include life insurance, annuities, long-term care solutions, employee benefits, workplace retirement plans, group insurance, and executive benefit plans.
On the individual life insurance side, Lincoln provides the following options:
- Term Life – Term life is typically purchased to provide “temporary” coverage. This type of policy can be obtained for one year, five years, ten years, or longer. It is considered to be the most economical form of coverage.
This is because term life provides only death benefit protection, with no cash value build-up or investment component. Lincoln Financial offers three different level-term options to choose from.
- Universal Life – Universal life insurance provides insureds with the benefits of traditional coverage. This means that they have death benefit protection, along with cash value.
This cash grows on a tax-deferred basis, meaning that there are no taxes due on the growth until the time of withdrawal. With universal life, policyholders have the opportunity to grow cash over time at a set rate, yet the flexibility to set the amount and the timing of their premium.
Policyholders can also set the amount of their death benefit – within certain guidelines – when the policy is in force. Lincoln has several different Universal Life products to choose from, including the Lincoln LifeGuarantee UL, the Lincoln LifeCurrent, and the Lincoln LifeReserve.
- Index Universal Life Insurance – Similar to regular universal life, index universal life also allows funds to grow tax-deferred. However, growth is tracked by the performance of an underlying index such as the S&P 500 or the Dow Jones Industrial Average (DJIA).
Lincoln offers several index universal plans, including the Lincoln Treasury Indexed UL, the Lincoln LifeReserve Indexed UL Accumulator, the Lincoln LifeReserve UL Protector, and the Lincoln WealthPreserve Survivorship Indexed UL.
- Variable Universal Life Insurance – Variable universal life insurance offers flexible death benefit coverage, along with growth potential in the cash value component of the policy.
The potential to grow the cash over time is based upon the market performance of an underlying portfolio of “subaccount.”
The funds, however, are not invested directly in the market. It is important to note, however, that while variable life can offer the opportunity to grow funds due to market performance, the potential for poor market performance can also make this type of policy more risky.
Lincoln Financial offers several options for variable universal life insurance. For single-life plans, it offers the Lincoln AssetEdge VUL, the Lincoln AssetEdge Exec VUL, and the Lincoln VUL ONE.
There is also a Survivorship Life option. These plans include the Lincoln PreservationEdge SVUL and the Lincoln SVULONE.
Lincoln Financial also provides a life insurance option as an alternative funding mechanism for long-term care expenses.
This can allow an individual or a couple to forgo the expense of having to purchase a stand-alone long-term care insurance policy and instead just use the funds that are inside of a universal plan.
This can essentially provide the policyholder (or policyholders) with the benefits of universal life and long-term care insurance combined.
It also helps to eliminate the worry of “not using” long-term care insurance policy benefits that are paid for over many years, but never utilized.
Instead, this option provides coverage for long-term care expenses if the person needs it – but if they don’t, it offers either a death benefit or a return of their initial premium if they don’t.
Company Ratings
Lincoln Financial is a solid performer in terms of financial strength – and it has the ratings to show it. The company has received very strong marks from the ratings agencies:
| The Lincoln National Life Insurance Company | Lincoln Life & Annuity Company of New York | |
|---|---|---|
| A.M. Best | A (3rd highest of 16) | A (3rd highest of 16) |
| Standard & Poor’s | A+ (5th highest of 21) | A+ (5th highest of 21) |
| Moody’s Investor Services | A2 (6th highest of 21) | A2 (6th highest of 21) |
| Fitch Ratings | A+ (5th highest of 19) | A+ (5th highest of 19) |
Advantages and Concerns
There are a number of advantages to going with Lincoln Financial as your company of choice. First, this financial services giant offers a nice variety of both term and universal policies, along with a very wide selection of optional policy riders to choose from.
So, even though the company does not provide a whole life insurance option, there are a lot of other choices that can meet most other needs.
Lincoln also offers other popular policy features such as a no-exam term conversion (for those who qualify), as well as a level premium guarantee on its term life insurance plans, and access to the cash value on its universal life policies.
It does not, however, offer a dividend option with paid-up additions.
The company is also very solid in terms of its financial backing and strength. Across the board, the financial rating agencies have provided Lincoln with strong marks.
That, coupled with the company’s century-old history, should give policyholders confidence that Lincoln will likely be there when they need them.
Unfortunately, no matter how nice the variety in a company’s product selection is, it is always a wise plan to get more than just one policy quote before making your final purchase choice.
Just like choosing a car or a computer, you wouldn’t just look at one and agree to the sticker price without first doing some comparison shopping.
When searching for life insurance, it is likely that the proceeds will be used for paying off large debt, replacing income, or some other important purpose on which survivors will rely.
With that in mind, you will want to ensure that the amount of proceeds is correct, the premium is within budget, and the company is secure. To help protect your family further, looking into Burial Insurance is also a good choice.
Finding the Life Insurance Coverage That Meets Your Needs
If you are ready to begin searching for the right policy for your specific needs, we can help. We can assist you in several different ways. First, we can help you in determining the right type of coverage.
In other words, is a term, whole life, or universal life the proper coverage type for you? Next, we will also walk you through determining the proper amount of coverage for your needs.
Coming up with the right dollar figure can be daunting at times – especially if projecting out into the future.
My preferred provider can help you in coming up with the coverage that can help get your loved ones through the tough times. Get started with your own set of quotes by filling out the form on the side of this page.
They will also help you review the many different life insurers in the marketplace in order to find the one that is best for you.
Root Financial works with the best life insurance carriers in the industry today and can get you all of the important information that you need in order to make the right decision.
Complete a major part of your personal finance plan today by getting quotes and coverage. We also have great tips for other insurance covers out there too, check out our post on the Best Auto Insurance Companies!
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Product Name: Lincoln Financial Product Description: Lincoln Financial is a well-established financial services company that offers a range of insurance and retirement planning products. Their offerings include life insurance, annuities, and employer-sponsored retirement plans. With a strong reputation and a history dating back to 1905, Lincoln Financial is known for its commitment to helping individuals secure their financial futures. Summary of Lincoln Financial Lincoln Financial is a reputable provider of financial products and services, with a focus on life insurance, annuities, and retirement planning. The company has a long-standing history and a solid reputation for helping individuals and families safeguard their financial well-being. One of Lincoln Financial’s core offerings is life insurance, which includes various types such as term life, whole life, and universal life insurance. These policies offer individuals the opportunity to protect their loved ones financially in the event of their passing. In addition to life insurance, Lincoln Financial provides annuity options that can serve as valuable tools for retirement planning. Annuities offer individuals a steady income stream during retirement, helping them achieve financial security in their golden years. For employers and organizations, Lincoln Financial offers employer-sponsored retirement plans, such as 401(k)s and pensions. These plans enable employees to save for retirement and provide employers with a way to attract and retain talent. Pros Financial Strength: Lincoln Financial is a financially stable company with a long history of serving customers’ needs. Their strong financial position provides confidence and security to policyholders. Variety of Products: The company offers a wide range of insurance and retirement products, allowing customers to tailor their financial plans to their unique needs and goals. Reputation and Trust: Lincoln Financial has built a reputation for reliability and trustworthiness, making it a preferred choice for individuals and organizations seeking financial protection and retirement planning solutions. Customization: Lincoln Financial’s products can be customized to meet specific needs, whether it’s providing comprehensive life insurance coverage or designing a retirement plan for employees. Cons Complexity: The wide range of products and options available from Lincoln Financial may be overwhelming for some customers who are looking for simpler solutions. Cost: While Lincoln Financial provides valuable services, some of their products may come with higher premiums or fees compared to more basic insurance or retirement options. Customers should carefully review costs and benefits before committing.
Lincoln Financial Review
Overall
Why sell insurance to people knowing you all want pay when they’re really in need was with them 10 years only paid me long term for two months told me I would need to apply for social security and cut me slap off been out of income since 2/04/2021 Bad faith insurance company
How do I sign in to my account with Lincoln Financial. I have life insurance and will pay the last payment in February 2019.
Hi Gilbert – Contact the company’s general contact phone, and see where they direct you.
I am 62 and my wife is now 60 ….we are looking for life insurance ….we had Prudential….our agent passed away, and I between different life events the policy lapsed .