Effective January 11, 2021, Lincoln is announcing pricing updates to Lincoln LifeElements® Level Term (2019) which will
improve competitive positioning in key cells. Lincoln LifeElements® Level Term offers both a traditional paper
application process and a streamlined Tele-App process for electronic and paper ticket submissions.
▪ The majority of the following core cells, all term durations, will rank in the top 3 compared to key competitors:
o Face amounts of $1M and above, age 30 and above
o Face amounts of $500k-999k, ages 50 and above
▪ Premium updates will be a mix of both decreases and increases
For states that are approved at rollout, there is a 30-day transition period which begins on January 11, 2021 and ends
on February 10, 2021. During the transition period:
▪ New applications received and applications currently in underwriting will automatically receive the lowest rates
▪ For LincXpress Tele-App cases a complete ticket and required solicitation forms must be received.
▪ For policies already issued, Lincoln will accept a written request to change to the Lincoln LifeElements® (2019) – 01/11/21 rates.
▪ For policies already placed, Lincoln will not allow rewrites to the Lincoln LifeElements® (2019) – 01/11/21 rates.
▪ States approved after rollout, the above will automatically apply based on the availability date.
Click here to view the term state availability grid.
Illustrations for Lincoln LifeElements® (2019) – 01/11/21 will be run on Lincoln DesignItSM Illustration System (v51.0 C). If you have an active internet connection, the software will automatically update to include the new rates on January 11, 2021. If you need to download the Lincoln DesignItSM Illustration System, it will be available on the Lincoln producer websites or from Field Office Technicians.
The following riders are available on all versions of Lincoln LifeElements® Level Term (see state availability):
▪ AcceleratedBenefit Rider
▪ Waiver of Premium Benefit
▪ Children’s Level Term Insurance Benefit Rider
All impacted materials have been updated and made available on the Lincoln Producer Websites.
With NFG Brokerage, you no longer need to depend on a one size fits all approach. We work hard for you to create customized insurance strategies to help you deliver the most affective solutions to your clients. Your success is our success...don't delay!
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.