Lincoln is making updates to the Lincoln WealthAccelerate® IUL. Lincoln WealthAccelerate IUL – 10/16/23 will replace Lincoln WealthAccelerate® IUL.
Lincoln WealthAccelerate IUL -10/16/23 is a flexible premium universal life insurance product that offers a death benefit with flexibility for growth, access to cash value, and financial protection, with an emphasis on the digital and automated experience from application to policy management.
Cost of Insurance increase and duration of charge extended to age 121
Target premium decrease of 5% on Level Death Benefit Option (DBO1)
Minimum Premium Requirement Increase
Access To Living Benefits
Transition Guidelines New business applications for Lincoln WealthAccelerate® IUL – 10/16/23 will be accepted on October 16, 2023, pending firm and state approval. For states approved at rollout, the transition period begins on October 16, 2023, and ends on November 15, 2023.
Applications for the Lincoln WealthAccelerate® IUL must be signed, dated, and received in good order in Lincoln’s home office by the end of the transition period to qualify.
For cases with the owner listed as “Trust to be Established”, formal applications received in the Home Office by the end of the transition period and have been signed by the insured will still qualify as awaiting a trust to be set up is part of the normal course of business. The only paperwork that Lincoln will not require at submission is the executed Certification of Trustee Powers with the trustee/owner’s signature. It must be received prior to issue.
For formal applications that expire prior to Issue or have been closed out, a new Part I must be submitted, and the case will be subject to the rates available at that time.
For pending business or policies already issued, Lincoln will accept a written request and a revised illustration to change to Lincoln WealthAccelerate® IUL – 10/16/23.
For policies already placed, normal internal replacement guidelines apply. Rewrites will not be allowed.
All states will be approved at launch except for NY.
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The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.