Pricing Update: Lincoln TermAccel® Level Term (2019) – 03/15/21

Effective March 15, 2021,

Lincoln is announcing pricing updates to Lincoln TermAccel®

Level Term (2019) will improve competitive positioning in key cells. Lincoln TermAccel® life insurance offers an entirely electronic, streamlined interview process with fully automated underwriting and no APS requirement.

Pricing Updates

▪ The majority of core cells, for all term durations, ages 30 – 60 and face amounts of $500K – $1M, will rank in the top 3 compared to key competitors.

o Preferred Plus class will remain ranked mainly in the top 4 – 7 compared to key competitors

▪ Premium updates will be a mix of both decreases and increases Transition Guidelines

For states that are approved at rollout, there is a 30-day transition period which begins on begins on March 15, 2021 and ends on April 14, 2021. During the transition period:

▪ New applications received and applications currently in underwriting will automatically receive the lowest rates available.

▪ For policies already issued Lincoln will accept a written request to change to the Lincoln TermAccel® (2019)– 03/15/21 rates.

▪ For policies already placed Lincoln will not allow rewrites to the Lincoln TermAccel® (2019) –03/15/21 rates.

▪ For states approved after rollout, the above will automatically apply based on the availability date. Lincoln TermAccel® (2019) is not available in New York.

 

 

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