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Key Product Changes
- Lincoln LifeEnhanceSM Accelerated Benefits Rider will be available on Lincoln LifeGuarantee® UL (2013) for clients concerned about the impact that a permanent chronic illness may have on their financial well-being
Lincoln LifeGuarantee® UL (2013):
Level pays: 0% aggregate change on average of 55-65: premiums decreased by 2 1/2% on avg
65-75: premiums changed by 0% on average
75+: premiums increased by ½% on average
Single pays: 16% aggregate increase on average
Lincoln LifeGuarantee® SUL (2013):
Level pays: 5% aggregate increase on average(range 3% to 8%)
Single pays: 34% aggregate increase on average
- No Heavily Funded Restrictions
- Coverage Protection Guarantee
Improved flexibility/competitive level-pay premiums for shorter guarantee periods:
Lincoln LifeGuarantee® UL (2013) down to age 95
Lincoln LifeGuarantee® SUL (2013) down to younger insured’s age 100
Premium payment period to age 121
New Funding Level Test: If the paid premium does not meet or exceed the funding level as defined in the CPG Rider for 3 consecutive months, a Funding Level Charge will be assessed which will shorten the CPG period.
- Guaranteed Interest Rate: 2%
- No Reduction in Premium Load for Internal Replacement Rollovers
- Target Premiums: Most target premiums went up or remained the same for both products. For GUL, there were target increases of up to 10% at ages 70+ and target decreases of less than 10% below age 70.
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Life Insurance
