Effective September 11, 2023, Lincoln Financial will be implementing pricing decreases to Lincoln MoneyGuard Fixed Advantage, which will improve competitive positioning. There will be no pricing increases as a result of this update.
Following a transition period, Lincoln MoneyGuard Fixed Advantage® – 09/11/23 will replace currently sold Lincoln MoneyGuard Fixed Advantage® – 01/23/23.
- Pricing improvements range from 0 – 15%
- Average pricing decrease is 5%
- Issue ages 55 through 65 will see the most improvement
Availability and Transition Guidelines
Pending firm approval, applications for Lincoln MoneyGuard Fixed Advantage®– 09/11/23 will be accepted beginning on September 11, 2023.
- For applications to qualify for the current Lincoln MoneyGuard Fixed Advantage® pricing, a projection of values and the completed Part 1 must be signed, dated, and received in-good-order by Lincoln’s home office by October 13, 2023.
- For pending or issued business on or after September 11, 2023, Lincoln will accept requests with a revised projection of values to change to Lincoln MoneyGuard Fixed Advantage®– 09/11/23.
- For placed business, normal internal replacement guidelines apply. Rewrites will not be accepted.
- As of September 11, 2023, Lincoln DesignItSM and WinFlex will be updated with the new product version. During the transition period both versions can be run.
- Ensure that you are appropriately credentialed. Clients of financial professionals who are not properly credentialed to solicit business when the paperwork is submitted will be subject to the product version in effect on the date when the financial professional becomes properly credentialed and resubmits the paperwork.
- Remember that once an application is submitted, the Personal History Interview (PHI) must be completed within 60 days of submission. In addition, the case must be placed within 90 days of the PHI. If these conditions are not met, the case will be closed out. If a case is reopened, a new Part 1 must be submitted, and the case will be subject to the product version available at that time.