Effective September 10, 2018, Lincoln is pleased to announce pricing improvements to Lincoln LifeElements® Level Term (2017) which will improve competitive positioning in key cells. Lincoln LifeElements® Level Term offers both a traditional paper application process and a streamlined Tele-App process for electronic and paper ticket submissions.

Highlights

  • Goals of the reprice include being a “top 3 carrier” in the following non-tobacco core cells for all term periods:
    • Ages 55 and above for face amounts of $500,000 and above
    • Ages 30 and above for face amounts of $1,000,000 and above
  • Premium updates include a mix of both premium decreases and increases

Transition Guidelines

For states that are approved at roll-out, there is a 60-day transition period which begins on September 10, 2018 and ends on November 9, 2018. During the transition period:

  • New applications received and applications currently in underwriting will automatically receive the lowest Lincoln LifeElements rates available. A request to use the lower rates will not be required. If the application had been submitted with premium using higher rates the difference will be automatically refunded.
  • For policies already issued Lincoln will accept a written request to change to the Lincoln LifeElements® Level Term (2017) – 09/10/18
  • For policies already placed Lincoln will not allow rewrites to the Lincoln LifeElements® Level Term (2017) – 09/10/18
  • For LincXpress Tele-App cases a complete ticket and required solicitation forms must be received within the same transition period outlined
  • States approved after rollout will transition directly from the 03/12/18 rates to the 09/10/18 rates. These are the same states that have not yet approved the 07/16/18 rates: AR, MD, MO, OR and WA. The above will automatically apply based on their availability

The Lincoln LifeElements® Level Term (2017) product has not been filed at this time in Alaska, Massachusetts, and New York since they have not approved the use of PBR/2017CSO.

Available Riders

The following riders are available on all versions of Lincoln LifeElements® Level Term:

  • Accelerated Death Benefit Rider
  • Children’s Term Insurance Rider
  • Waiver of Premium Rider
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