Effective February 11, 2019, subject to state availability, Lincoln will introduce the newest member in its indexed universal life (IUL) portfolio: Lincoln WealthAccumulate® IUL (2019) – an innovative indexed UL that offers all the options needed to meet a wide range of future possibilities. This product will not initially be available in New York.
RUN THE NUMBERS – You’ll find highly competitive account values, distributions, and targets with an IUL that’s ideal for supplementing retirement income or protecting a business.
Product Highlights
Significant growth potential.
- Guaranteed Interest rate bonuses that begin in year 1. Depending on the account(s) chosen:
- Index Credit Enhancement (multiplier)
- Account Value Enhancement
- New! Positive Performance Credit (PPC):
Beginning in year 2, if applicable, a Positive Performance Credit is added to the Index Credit Enhancement at segment maturity. The PPC is a non-guaranteed variable multiplier that is available on the Perform Plus, Perform and Balance Indexed Accounts. - Choice of two high early cash value riders to provide options in business and premium finance cases. Subject to certain requirements.
- Exec Rider, allows 100% return of premium for 10 years if funding requirements are met. Available at an additional cost.
- Surrender Value Enhancement Endorsement, waives surrender charges. No additional rider charge, but higher monthly administrative charges apply for the first 11 years.
Provides clients choices today and in the future.
New! Choice of four indexed account options linked to the S&P 500® Index* (excluding dividends): The Perform Plus, Perform, Balance, and Conserve indexed accounts provide options to help meet clients’ long-term goals based on return potential and downside protection preferences. Policies can be allocated to one or more account options with the ability to make allocation changes in the future.
Access to cash value.
- 9-year surrender charge period
- Tax-advantaged distributions that may provide an additional financial resource or supplement existing retirement income. Choices provide a competitive solution in the accumulation/distribution Indexed Universal Life (IUL) marketplace:
- Withdrawals
- Fixed and Participating loan options with guaranteed loan charge rates for greater cash flow predictability
- New! Return of Premium Rider provides the option to have 100% of premiums returned if the market underperforms.
- One-time opportunity that can be exercised at the end of year 20.
- Max Issue age 60 or Table D
- DBO2 Only
- No Additional upfront cost
- Subject to minimum premium requirement.
Product Availability
New business applications will be accepted on February 11, 2019, in approved states. The new product will be available in all states except: DE, DC, FL, GU, MP, NY, ND, SD and VI.
Transition Guidelines
Lincoln WealthAccumulate® IUL (2019) will replace Lincoln WealthAccumulate® IUL (2018) 05/14/18. For states that are approved at rollout, there is a 60-day transition period which begins on February 11, 2019 and ends on April 12, 2019.
- For the replaced products, 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.
- For pending business or policies already issued, Lincoln will accept a written request and a revised illustration to change to the Lincoln WealthAccumulate® IUL (2019).
- For policies already placed, normal internal replacement guidelines apply. Rewrites will not be allowed. \
- For states approved after rollout, the above will automatically apply based on the availability date.
More detailed information on Lincoln WealthAccumulate® IUL (2019) will be available in the Lincoln Life Leader launch announcement on February 11, 2019.