At a glance
- NerdWallet ranking: No. 11 life insurance company (out of 23 evaluated).
- Offers both term and permanent life insurance.
- Offers application by phone on some types of policies.
Overview
Lincoln Financial Group got permission to use its brand name from President Abraham Lincoln’s son Robert Todd Lincoln in 1905. President Lincoln’s profile still serves as the company’s logo.
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Find out more about each element included in our Lincoln Financial Group review by clicking below.
More about Lincoln Financial
| Types of life insurance sold | Other products & services |
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Life insurance options
Lincoln Financial offers two types of term life insurance:
- Lincoln TermAccel Level Term is for people age 50 and younger for coverage of $500,000 or less.
- Lincoln LifeElements Level Term is for people age 45 and older for coverage of $500,000 and above.
The application for both types is by phone, and some people can be approved quickly with no medical exam.
The company offers six types of universal life insurance and three types of indexed universal life insurance policies, including a survivorship indexed product. Survivorship life insurance insures two people, typically a married couple, on one policy. The policy pays out when the second person dies.
Lincoln Financial’s MoneyGuard II is a universal life policy that offers long-term care benefits. The death benefit is reduced if the policy is used to pay for long-term care. If no long-term care benefits are paid, then the policy pays out the full death benefit when the insured person dies. A policyholder can also give up the policy for a return of premiums paid after five years if no long-term care benefits have been used.
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