Effective October 12, 2020, Lincoln will introduce Lincoln VULONE (2019) – 10/12/20. This new product version is being made available to accommodate the addition of a new Long-Term Care (LTC) Rider on Lincoln VULONE (2019). The change to the product version will apply to all policies sold, regardless of election of the LTC rider.
Lincoln VULONE (2019) base product, pricing and features are not changing between the Lincoln VULONE (2019) – 05/11/20 and the Lincoln VULONE (2019) – 10/12/20. LTC Rider availability is the only change from the old version to the new.
There is no new prospectus for this product update. The prospectus can be found on LFG.com under Explore insurance & annuities/Lincoln VULONE (2019)/ Performance /Prospectus and Reports tab. Click here to view a copy of the prospectus.
All states will be automatically approved at rollout except for New York (where the product is not available). There is a 60-day transition period which begins on October 12, 2020 and ends on December 11, 2020.
- For the old product version, formal applications must be signed, dated and received in-good-order in Lincoln’s home office by the end of the transition period to qualify.
- For LincXpress® Tele-App Cases, a complete ticket and required solicitation forms must be received by the end of the transition period to qualify.
- For pending business or policies already issued, Lincoln will accept a written request and a revised illustration to change to the Lincoln VULONE (2019) – 10/12/20.
- For policies already placed, normal internal replacement guidelines apply. Rewrites will not be allowed.