Effective April 13, 2020, Lincoln is announcing pricing adjustments to Lincoln TermAccel Level Term (2019). Lincoln TermAccel offers an entirely electronic, streamlined Tele-App process with fully automated underwriting and no APS requirement.
- Premium increases vary with an average increase of 1.7%
- The majority of premiums, in our core cells for all term durations, remain in the top 5 in competitive scenarios.
- Core cells are non-tobacco, ages 30-60 and face amounts of $250,000 – $1,000,000
For states that are approved at rollout, there is a 30-day transition period which begins on April 13, 2020, and ends on May 13, 2020. 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) – 04/13/20 rates.
- For policies already placed Lincoln will not allow rewrites to the Lincoln TermAccel® (2019) – 04/13/20 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.
The following riders are available on all versions of Lincoln TermAccel® (see state availability):
- Accelerated Benefit Rider
- Waiver of Premium Benefit
- Children’s Level Term Insurance Benefit Rider