Lincoln National Life Insurance Company is a well-established carrier with an A (Excellent) Financial Strength Rating from A.M. Best and more than 119 years in business. They offer a strong lineup of term life, indexed universal life (IUL), and variable universal life (VUL) products. We’ve found Lincoln particularly competitive for clients seeking cash value accumulation through their WealthAccelerate® and WealthBuilder℠ IUL products, and they’re one of the few carriers offering fully digital applications with no medical exams for qualifying applicants.
If you’re researching life insurance companies, you’ve probably come across Lincoln National (also called Lincoln Financial Group). And you’re likely wondering: Are they legitimate? Do they have competitive products? Will they actually pay claims?
These are smart questions. After 30+ years helping clients find the right coverage, we can tell you that Lincoln is one of the carriers we recommend regularly. They’re not perfect for everyone, but for certain situations, they’re hard to beat.
Let’s break down what Lincoln offers, who they’re best for, and whether they might be a good fit for your needs.
Smart. Flexible. Secure. Protect Your Future with IUL.
Discover the Power of Indexed Universal Life Insurance.
Lincoln National Company Overview
The Lincoln National Life Insurance Company was founded in Fort Wayne, Indiana in 1905 when President Abraham Lincoln’s son, Robert Todd Lincoln, granted permission for the company to use his father’s name and likeness. That’s more than 119 years in business, which matters when you’re buying a product designed to last decades.
Today, Lincoln Financial Group’s corporate headquarters is in Radnor, Pennsylvania. Lincoln is one of only a handful of insurance companies from the early 1900s still operating today. They’ve weathered the 1929 crash, multiple recessions, and continue to serve millions of Americans.
One thing to note: Lincoln National doesn’t sell policies directly in New York state. If you’re a New York resident, you’ll need to look at other carriers.
Lincoln National Contact Information:
Lincoln Financial Group
100 North Greene Street
Greensboro, NC 27401
Phone: 1-800-487-1485
Financial Strength and Ratings
Here’s the thing about life insurance: the company needs to be around to pay your claim. That’s why financial ratings matter.
Lincoln National has earned strong ratings from the major rating agencies. A.M. Best gives Lincoln an A (Excellent) Financial Strength Rating, reflecting the company’s strong balance sheet and operating performance. Lincoln also holds investment-grade ratings from Standard & Poor’s, Moody’s, and Fitch.
The Better Business Bureau has given Lincoln Financial Group an A+ grade. While they’re not BBB-accredited, that top grade indicates they handle customer complaints responsibly.
What does this mean for you? Lincoln has the financial strength to pay claims. They’re not a fly-by-night operation. When we place clients with Lincoln, we’re confident the company will be there when it matters.
Lincoln National Life Insurance Products
Lincoln offers three main categories of life insurance: term life for temporary protection, indexed universal life (IUL) for permanent coverage with growth potential, and variable universal life (VUL) for market-driven accumulation. Let me walk you through what’s currently available.
Term Life Insurance
Term life is straightforward: you pay premiums for a set period (the “term”), and if you pass away during that time, your beneficiaries receive the death benefit. No cash value, no investment component. Just pure protection.
Lincoln offers two term products:
Lincoln TermAccel® Level Term is designed for middle-market America and offers very competitive rates. This is one of Lincoln’s digital-first products, meaning qualifying applicants can often get approved without labs or medical exams. Coverage amounts range from $250,000 to $1,000,000, with term lengths of 10, 15, 20, or 30 years. The policy can be converted to permanent Lincoln coverage if your needs change. We’ve seen applicants get approved in as little as two days with this product.
Lincoln LifeElements® Level Term offers similar flexibility with a minimum face amount of $250,000. It’s particularly competitive for applicants age 30 and over needing $1,000,000 or more in coverage, or age 50 and over needing $500,000 or more. Term options include 10, 15, 20, or 30 years, and it’s also convertible to Lincoln permanent products.
Both term products are compliant with principle-based reserving (PBR) and the 2017 CSO mortality tables, which generally means better pricing.
Indexed Universal Life (IUL) Insurance
IUL is where Lincoln really shines. These permanent life insurance policies combine death benefit protection with cash value growth tied to market index performance (like the S&P 500). You get upside potential when markets rise, but your cash value is protected from losses when markets fall.
Lincoln organizes their IUL products into two categories: protection-focused and growth-focused.
Protection-Focused IUL Products:
Lincoln WealthPreserve® 2 IUL is designed for risk-conscious individuals who want long-term guaranteed death benefit protection plus tax-deferred cash value growth. This is a solid choice for estate planning or wealth transfer strategies where the death benefit guarantee is the priority.
Lincoln WealthPreserve® 2 SIUL is the survivorship (second-to-die) version, covering two lives under one policy. The death benefit pays out after the second insured passes away. This is commonly used for estate tax funding and wealth transfer to heirs.
Growth-Focused IUL Products:
Lincoln WealthAccelerate® IUL is Lincoln’s flagship accumulation product. It’s designed for individuals and couples who want a tax-efficient way to build wealth with flexibility in how they fund the policy. This is another digital-first product, so qualifying applicants can often skip the medical exam entirely. We recommend this product frequently for clients looking to supplement retirement income or create a tax-free wealth accumulation vehicle.
Lincoln WealthBuilder℠ IUL is a newer addition to Lincoln’s lineup, designed for clients seeking the right blend of funding options and growth potential.
Lincoln WealthBuilder℠ ECV IUL adds an Enhanced Cash Value endorsement, which can boost the policy’s accumulation potential for clients focused on cash value growth.
Variable Universal Life (VUL) Insurance
VUL policies invest your cash value in sub-accounts similar to mutual funds. This means higher growth potential than IUL, but also more risk since you can lose principal value.
Lincoln AssetEdge® VUL is designed for individuals who want market-driven accumulation and are comfortable with investment risk. This appeals to higher-income earners who’ve maxed out traditional retirement accounts and want another tax-advantaged vehicle. The policy offers flexibility to adjust your investment allocation as your risk tolerance or goals change.
Lincoln AssetEdge® SVUL is the survivorship version, covering two lives. This works well for couples concerned about estate taxes, wealth transfer, or leaving a legacy to heirs.
Both VUL products are sold by prospectus, and only registered representatives can sell them. If you’re considering VUL, make sure you understand the risks involved.
Digital-First Application Process
One thing that sets Lincoln apart is their commitment to streamlined underwriting. For their digital-first products (WealthAccelerate® IUL and TermAccel® Level Term), qualifying applicants can often complete the entire process from application to policy delivery without labs or medical exams. Learn more about no-exam options and how they work.
This doesn’t mean everyone qualifies for simplified underwriting. But if you do, the process is significantly faster and more convenient than traditional applications.
Who Is Lincoln National Best For?
Based on our experience placing clients with Lincoln, here’s who tends to be a good fit:
Cash value accumulation seekers. If you want an IUL policy focused on building tax-advantaged wealth for retirement, Lincoln’s WealthAccelerate® and WealthBuilder℠ products are very competitive.
Estate planning clients. The WealthPreserve® 2 products (both single life and survivorship) provide strong death benefit guarantees for wealth transfer strategies.
Tobacco users who don’t smoke cigarettes. Lincoln won’t rate you as a smoker if you use cigars, pipes, marijuana, nicotine patches, nicotine gum, chewing tobacco, or dip. Only cigarettes and e-cigarettes/vaping get smoker rates. This is a significant advantage for many clients.
Clients with certain health conditions. We’ve found Lincoln to be competitive for applicants with diabetes, history of stroke, heart disease, stents, COPD, sleep apnea, asthma, hepatitis B or C, high blood pressure, high cholesterol, and prostate cancer. Every case is different, but Lincoln’s underwriting tends to be reasonable for these conditions.
People who want a fast, digital process. If you qualify for their digital-first products, you can potentially get approved in days rather than weeks.
How to Get the Best Rates
If you’re considering Lincoln National, or any life insurance company, working with an independent agency gives you a significant advantage. We’re not captive to any single carrier, which means we can shop your case across multiple companies and find the best fit for your specific situation.
Life insurance pricing varies dramatically between carriers based on your age, health, coverage amount, and the specific product you choose. What’s cheapest at one company might be expensive at another. That’s why comparison shopping matters.
Frequently Asked Questions
Is Lincoln National a good life insurance company?
Yes. Lincoln has been in business since 1905, maintains strong financial ratings (A from A.M. Best), and offers a solid range of products. We recommend them regularly for clients seeking IUL coverage or those with health conditions that other carriers might rate more harshly.
Does Lincoln National require a medical exam?
Not always. Their digital-first products (WealthAccelerate® IUL and TermAccel® Level Term) offer no-exam options for qualifying applicants. Traditional products may still require underwriting with labs and exams.
What IUL products does Lincoln offer?
Lincoln currently offers five IUL products: WealthPreserve® 2 IUL and WealthPreserve® 2 SIUL for protection-focused needs, and WealthAccelerate® IUL, WealthBuilder℠ IUL, and WealthBuilder℠ ECV IUL for growth-focused accumulation.
Does Lincoln National sell life insurance in New York?
No. Lincoln National Life Insurance Company does not solicit business in New York state. If you’re a New York resident, you’ll need to consider other carriers.
Can I use Lincoln life insurance for retirement planning?
Absolutely. Lincoln’s IUL products are designed with cash value accumulation in mind. The tax-deferred growth and potential for tax-free withdrawals make IUL a popular supplement to traditional retirement accounts.
Key Takeaways
- Lincoln is financially strong. With an A (Excellent) rating from A.M. Best and over 119 years in business, Lincoln has proven staying power.
- Their IUL lineup is competitive. The WealthAccelerate® and WealthBuilder℠ products offer solid accumulation potential with downside protection.
- Digital-first options speed up the process. Qualifying applicants can often skip medical exams entirely.
- They’re tobacco-friendly (except cigarettes). Cigar smokers, marijuana users, and tobacco chewers can get non-smoker rates.
- Not available in New York. If you’re a NY resident, you’ll need to look elsewhere.
Ready to see if Lincoln is right for you? We can help you compare quotes from Lincoln and other top-rated carriers to find the best coverage for your situation. No pressure, no obligation. Just honest guidance based on 30+ years of experience.
Call us at 800-712-8519 or use the quote tool on this page to get started.
