Term conversion options on new term policies with policy effective dates on or after September 12, 2016, will continue to have access to the full suite of competitive permanent products through policy year seven. After year seven, policies that are eligible may convert to one of the available product(s) designated for conversion by Lincoln. A separate Term product will be available for those clients who would like the ability to convert to the full product portfolio for the entire conversion period.

These Term Conversion changes support our ability to continue offering a comprehensive, competitive, and relevant portfolio of term products for your clients. Our Term conversion guideline practices are still among the most competitive in the industry, providing you and your clients the flexibility needed to customize their long-term plans.

Guidelines for commissions paid on permanent policies are being adjusted based upon the policy year at the time of conversion. Please note, no first year commissions will be paid for conversion after policy year seven on inforce policies with policy effective dates prior to September 12, 2016, if the term conversion application is received on or after January 1, 2017. Please see the attached Term Conversion Changes Summary Grid for details.

Enclosed find detailed information about these changes, and options for you and your clients to consider. Additionally, the updated Term Conversion Guidelines will be available on July 18, 2016. As you will see, several steps have been taken to minimize the impact to inforce policyowners along with business currently in the sales process.


Summary of Changes Grid

Lincoln Leader Article

Competitive Intelligence Grid

Compensation Examples

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