Overview
Lincoln Financial Group is the marketing name for Lincoln National Corporation and its subsidiary companies, which is a Fortune 250 American holding company operating business in multiple insurance and investment management. Lincoln National Life Insurance Company was founded in 1905 and formed Lincoln National Corporation in 1968. Lincoln Financial Group was introduced in 1998 by Lincoln National Corporation for its recognition as a financial service company. Lincoln Financial Group provides advice and solutions to business areas like life insurance, annuities, retirement plan services and group protection to support, preserve and enhance people’s lifestyles and retirement outcomes. It is headquartered in Radnor, PA. It was listed on The New York Stock Exchange as “LNC”.
Size & Operation
Q: What is the size and operation situation of Lincoln Financial Group?
Lincoln National Corporation was ranked #188 on the 2020 Fortune 500 list by revenue, #22 by assets. Lincoln Financial Group provides retirement, insurance and wealth protection products to more than 17 million customers. It has a number of employees of 9,047 in 2017.
On December 31, 2020, Lincoln reported end-of-period account values of $303 billion, total statutory capital of approximately $10.3 billion and cash and invested cash of $754 million at the holding company (Lincoln Financial Group, 2021). Key metrics for the fourth quarter of 2020 include:
- Total average account balances of $291 billion
- Adjusted operating revenues of $4.7 billion
- Net income of $143 million
- Adjusted income from operations of $346 million
- $50 million in share repurchases during the quarter
Annuity growth from operations and retirement Plan Services with the increase primarily driven by favorable returns within the company’s alternative investment portfolio and higher account values from strong equity market performance.
Life Insurance reported income from operations with favorable returns within the company’s alternative investment portfolio and expense management were more than offset by unfavorable mortality related to the pandemic. Group Protection reported a loss from operations.
Products & Services
Life Insurance Product
Q: What life insurance does Lincoln Financial Group offer?
Lincoln Financial Group offers term life insurance, permanent life insurance and lifetime protection VUL for individuals as follows for better protection.
Term Life Insurance
If you’re in good health and looking to get coverage for 10, 15, 20, or 30 years fast,TermAccel®is your solution. The process is fully automated and offers affordable coverage quickly.
If you’re looking for a little more coverage for 10, 15, 20 or 30 years for your family, your business or both,Lincoln LifeElements®Level Term is your solution. It offers coverage amounts of $1 million and above with dedicated teams that specialize in large cases.
Permanent Life Insurance (Universal, Indexed Universal and Variable Universal)
Universal life insurance products
- LincolnLifeGuarantee®UL(2019)(not available in New York)
- LincolnLifeGuarantee®SUL(2019)(not available in New York)
Indexed Universal Life Insurance
Lincoln WealthAccumulate®2 IUL (2020) is a life insurance policy that can give you flexibility for growth, access to cash value, and financial protection. It offers all the options you need to help meet a wide range of future possibilities: protection for your family or your business, choices for growth opportunities, and ways to access your cash value when you want it. This permanent coverage combines a death benefit to protect what matters most in your life today, as well as growth potential through five indexed accounts2:
Fidelity AIM®Dividend Indexed Account
S&P 500®Multiplier Indexed Account
S&P 500®Fixed Bonus Indexed Account
S&P 500®Traditional Indexed Account
S&P 500®Performance Trigger Indexed Account
Lincoln WealthPreserve®2 IUL offers a long-term death benefit guaranteed that lasts for up to 40 years or to age 90 (whichever comes first).1It gives you the assurance of long-term guaranteed financial protection with built-in guarantees and flexibility to help you meet your changing needs.
Lincoln WealthAdvantage®Indexed UL can help your clients plan for the future they want. It’s designed for clients with a conservative market outlook who want to balance guaranteed features and growth potential.
Lincoln WealthPreserve®IUL offers a long-term death benefit guaranteed that lasts for up to 40 years or to age 90 (whichever comes first).1It gives you the assurance of long-term guaranteed financial protection with built-in guarantees and flexibility to help you meet your changing needs.
Variable Life Insurance
- Lincoln VULONE(2021)* (not available in New York)
- Lincoln VULONE(2019)* (not available in New York)
- Lincoln AssetEdge®VUL (2020)(not available in New York)
- Lincoln AssetEdge®Exec VUL (2020)(not available in New York)
- Lincoln SVULONE(2021)* (not available in New York)
- Lincoln SVULONE(2019)* (not available in New York)
- Lincoln AssetEdge®VUL (2015) NY
- LVIP — Prospectus/Reports
- LVIP Trust Holdings(PDF)
- LVIP Fund of Funds Holdings(PDF)
- LVIP Government Money Market Fund Daily NAV, Net Flows, and Liquidity(PDF)
- LVIP Government Money Market Fund Holdings – September(PDF)
- LVIP Government Money Market Fund Holdings – October(PDF)
- LVIP Government Money Market Fund Holdings – November(PDF)
- LVIP Government Money Market Fund Holdings – December(PDF)
- LVIP Government Money Market Fund Holdings – January(PDF)
- LVIP Government Money Market Fund Holdings – February(PDF)
Lifetime Protection VUL
- Lincoln VULONE
Lincoln VULONEoffers guaranteed lifetime protection with cash value growth opportunities designed to help you live the life you want today and through retirement.
Retirement Products
Q: What retirement products does Lincoln Financial Group offer?
Lincoln Financial Group offers Plan Sponsor Experience, Participant Engagement, Product Services and Guaranteed Retirement Income as below.
Plan Sponsor Experience
Participant Engagement
- Lincoln InStep®Participant Retirement Program
TheLincoln InStep®Participant Retirement Program delivers simple, clear communications tailored to your employees’ needs and life stages. Outcomes-focused education encourages participants to understand the plan and take action at key points in their lives.
Investments
- All-in-one Portfolio
If you want one diversified portfolio that’s managed for you, consider making an all-in-one choice. Target-date portfolios invest according to the year you expect to retire — your target date. Target-risk portfolios base their investment mixes on your sensitivity to the ups and downs of the market.
- Hands-on Investor
If you’re interested in investments and want to build your own portfolio, consider selecting your own investments from your plan’s lineup. Options will vary in terms of risk and earnings potential.
- Hands-off Investor
If you’d prefer to let someone else manage your investments entirely, consider using a managed account service that puts your portfolio in the hands of a professional. This option may require you to pay a fee for using a professional account management service.
Product examples:
Lincoln Retirement Power®, Lincoln Alliance®, Lincoln WellnessPATH®
Product Administration Services
YourPath®prepackaged solutions
- YourPath®CIT portfolios
Choose an active, passive, or hybrid approach for these target-date + risk portfolios consisting of collective investment trusts (CITs) from leading investment managers, with access to 3(38) fiduciary support from Morningstar.
- YourPath®Multi-Manager portfolios
These portfolios consist of Lincoln Variable Insurance Products Trust (LVIPs) funds, which are sub-advised investments where Lincoln Investment Advisors Corp. (LIAC) serves as the Investment Advisor, providing fiduciary oversight on manager selection. TheYourPath®Multi-Manager lineup features a blend of active and passive LVIP funds selected from 19 high- quality fund managers.
- YourPath®investment manager portfolios
Choose an active, passive, or hybrid approach for these target-date + risk portfolios consisting of funds from leading investment managers, including American Century, American Funds, State Street, and BlackRock, with access to 3(38) fiduciary support from Morningstar.
YourPath®custom solutions
- YourPath®custom portfolios with Morningstar
Customize these target-date + risk portfolios from your existing lineup (or funds outside the core lineup), with access to 3(38) fiduciary support from Morningstar.
- YourPath®custom portfolios with independent RIA
Customize these target-date + risk portfolios from your existing lineup (or funds outside the core lineup), with access to 3(38) fiduciary support from a registered investment adviser (RIA).
Guaranteed Retirement Income
- Lincoln PathBuilderSMIncome
Lincoln PathBuilderSMIncomeoffers guaranteed lifetime income with protection from market declines and participation in rising markets – all at a reasonable cost. With access to fiduciary support, you can be confident in your choice of this lifetime income option.
Q: What annuities does Lincoln Financial Group offer?
Lincoln Financial Group offers fixed annuities, fixed index annuities and variable annuities as follows for protected growth of future income.
Fixed Annuities
Traditional fixed annuities
Lincoln MYGuaranteeSMPlus fixed annuity is a single premium annuity that offers several features to help meet accumulation and income needs.
Deferred and immediate annuities
This single premium immediate fixed annuity can help address the challenges of creating an adequate source of income for retirement.Lincoln Insured IncomeSMImmediate Annuity provides regular, guaranteed income investors can count on.
Lincoln Deferred Income SolutionsSMAnnuity allows clients to determine when and how they’re going to receive income. Investorscan choose their income start date, payout option and payment frequency.
Fixed Indexed Annuities
Lincoln New Directions®fixed indexed annuity is a single premium deferred annuity that offers several features to help meet accumulation and income needs.
TheLincoln OptiBlend®fixed indexed annuity offers flexible premium annuities that can provide several features to help meet accumulation and income needs.
Lincoln Covered Choice®5 fixed indexed annuity is a single premium deferred annuity that offers several features to help meet accumulation and income needs.
Lincoln Covered Choice®5 II fixed indexed annuity is a flexible premium deferred annuity that offers several features to help meet accumulation and income needs.
TheLincoln FlexAdvantage®flexible premium fixed indexed annuity suite offers several features to help meet accumulation and income needs.
Lincoln MYGuaranteeSMPlus fixed annuity is a single premium annuity that offers several features to help meet accumulation and income needs.
Variable Annuities
Prepare for retirement and help meet investors income needs with an American Legacy®variable annuity, an investment vehicle designed for long-term savings.
This type of variable annuity offers several features and options to help investorsbuild the retirement plan that works best for them.
Simplify your retirement income with a powerful combination of target date investing and protected lifetime payments.
With American Legacy®Target Date Income variable annuity, you can access the experience of two highly regarded companies: Lincoln Financial Group and Capital Group, home of American Funds.
Create a portfolio built around what matters most to you.
WithLincoln Level Advantages you stay invested for growth while reducing risk with levels of protection that help guard against market downturns. When it comes to preparing for market ups and downs, it’s about finding the balance that’s right for you.
Saving and investing for retirement takes advance planning and the flexibility to adapt as investors needs and circ*mstances change over time.
Lincoln ChoicePlusSMvariable annuities are long-term investment vehicles specifically designed for retirement savings.
Business Retirement Products
Q: What is the support for business retirement products that Lincoln Financial Group offers?
Lincoln Financial Group offer retirement services for high level of personal design and considering the following aspects:
- Technology
Customized, secure plan sponsor website that shows you essential plan information at a glance
Personalized participant website that encourages active participation and increased savings
Plan Health Dashboard that provides real-time data and insight on your plan’s performance
- Support
Dedicated, responsive account management team that provides the assistance and information you need, when you need it
Personalized retirement plan service and guidance to encourage employee participation
- Transparency
Access to a fiduciary services to help you with your legal obligations to participants
Annual plan reviews to help your plan stay on track to meet its goals
Professionally managed accounts that help protect participants’ retirement savings through changing markets
- Expertise
Predesigned or customized fund lineups, suited to your workforce demographics
Access to a range of target-date fund options, any of which may be used as a plan’s Qualified Default Investment Alternative (QDIA)
Access to a suite of quality investment options from leading fund families.
Institutional Products
Q: What institutional products do Lincoln Financial Group offer?
Lincoln Financial Group offers annuities, life insurance and long-term care funding for institutions. Details of annuities and individual life insurance are talked about in previous life insurance and retirement sections.
(sources:https://www.lfg.com/public/individual)
Additional benefits
Unexpected health costs or disability
- Accelerated Benefits Rider1— pays a portion of the death benefit if you become terminally ill, require permanent nursing home care, or need help during a critical illness or condition. Benefits are subject to state approval.
- Accelerated Benefits Rider (with Critical Illness)— pays a portion of the death benefit if you become critically or terminally ill or are confined to a nursing home. Benefits are subject to state approval.
- Lincoln Care Coverage®Accelerated Benefits Rider— pays out all or a portion of the death benefit by providing income tax-free reimbursem*nt of qualified long-term care expenses incurred for covered services should you develop a temporary or permanent chronic illness, subject to meeting eligibility requirements.
- Lincoln LifeAssure®Accelerated Benefits Rider— pays out all or a portion of the death benefit to give you a source of tax-advantaged funds to use for any purpose if you develop a permanent chronic illness. Benefit payments will be reduced when the rider is exercised. There is a per claim administrative fee charged.
- Lincoln LifeEnhance®Accelerated Benefits Rider— pays out all or a portion of the death benefit to give you a source of tax-advantaged funds to use for any purpose if you develop a permanent chronic or terminal illness. You’ll also have protection from policy lapse once benefit payments begin.
- Disability Waiver of Specified Premium Benefit Rider— covers you for a specified monthly premium if the covered insured becomes totally disabled.
- Disability Waiver of Monthly Deduction Benefit Rider— waives the monthly deductions if you become totally disabled subject to certain requirements.
- Waiver of Monthly Deduction Rider— waives the monthly deduction and other charges if you become totally disabled. Subject to certain requirements.
- Waiver of Premium Rider— waives premium payments during a period of total disability. Available on term products only.
Additional term protection
- Supplemental Term Insurance Rider on Primary Insured— gives you the flexibility to add additional, convertible level term insurance on the person insured under the base policy. Guaranteed Issue not available with this rider.
- Supplemental Term Insurance Rider on Other Insured— gives you the flexibility to add additional, convertible level term insurance for a loved one or business partner. Guaranteed Issue not available with this rider.
- Children’s Term Insurance Rider— gives you the ability to insure your child under your policy.
Solutions for your business
- Change of Insured Rider— allows the owner to transfer the basic policy on the life of the original insured for a policy on the life of someone else, pending underwriting. It is available for use in defined benefit plans in businesses with high turnover among non-vested employees and other business applications.
- Enhanced Surrender Value Rider— provides a separate enhanced surrender value for the first five policy years and helps offset potential liabilities that could negatively affect your balance sheet.
- Exec Enhanced Surrender Value Rider— provides a separate enhanced surrender value, which waives all surrender charges and optionally replaces a portion of the administrative charges.
- Lincoln Enhanced Value Rider— provides choice of return of premium benefit options subject to policy funding requirement.
- Surrender Value Enhancement Endorsem*nt— waives surrender charges.
Asset control
- Return of Premium Rider— gives you the option to have up to 100% premiums returned during certain policy year(s). Additional charges may apply.
Additional early coverage
- Estate Protection Rider— provides an additional term insurance benefit on your survivorship policy during the first four years of your policy.
Policy lapse
- Extended No-Lapse Minimum Premium Rider— extends the no-lapse premium included with the policy as long as the minimum premium requirement is met.
- Overloan Protection Rider— provides the security of knowing that highly funded, heavily loaned policies will be protected from lapsing in certain situations and ensures the net death benefit will be no less than $10,000.
Group Benefits Products
Q: What group benefits services do Lincoln Financial Group offer?
Lincoln Financial Group provides the following services to clients:
- Accident
- Critical Illness
- Dental
- Vision
- Term Life and AD&D
- Short-term Disability
- Long-term Disability
- Absence Management
- Paid Family Leave
Ratings & Reviews
Ratings
Q: What are the ratings for Lincoln Financial Group?
Lincoln Financial Group received good ratings for financial strength from A.M. Best, Standard & Poor’s, Moody’s and Fitch as below.
(sources:https://www.lfg.com/public/aboutus/investorrelations/financialinformation/ratings)
Reviews
Q: What are the reviews & rankings for Lincoln Financial Group?
Lincoln Financial Group Life Insurance was rated 4 stars out of 5 by NerdWallet (Nerdwallet, 2021).
It was commented that Lincoln Financial offers quick application by phone on term life policies with fewer complaints to state regulators than expected for a company of its size.
Rankings for Lincoln Financial Group are illustrated as below.
(sources: https://www.lfg.com/public/aboutus/companyoverview/financialstrength?audience_page_id=1422918942386)
Conclusion
When assessing the needs for your risk management and insurance needs for your business Lions Financial works with highly rated insurance companies to make sure your financial assets are secure. As an independent company Lions Financial works with products and services from companies like Lincoln Financial. We focus on industries such as automotive, trucking, commercial real estate, hospitality, retail & e-tail, financial services, bio-pharmaceuticals, healthcare, marketing, advertising, engineering, and renewable energy companies.
To find out more about how we can help you contact us https://lions.financial/contact/
If you would like to learn more about additional risk management services visit:
https://lions.financial/services-risk-management/ https://lions.financial/services/business-advisory-employee-benefits/
https://lions.financial/services/business-advisory-executive-compensation-tax-strategies/
As a financial services firm Lions Financial focuses on helping businesses address their risk management considerations through consulting and implementation of insurance products. We have put together an overview of Lincoln Financial, the life insurance company, to provide clarity on the solutions they offer and identify how they meet the needs and expectations facing businesses today. We will provide an overview of Company, Size & Operation Products & Services, Life Insurance Product Business Insurance Product Retirement Product,Annuities, Retirement Business Products, Institutional Products, Group Benefits Ratings & Reviews: Ratings, and Reviews.
The sources we use for this information include:
Lincoln Financial: https://www.lfg.com/public/individual
https://www.lfg.com/public/aboutus/companyoverview/financialstrength?audience_page_id=1422918942386
https://www.lfg.com/wcs-static/pdf/4Q2020PressReleasePdf.pdf
https://www.lfg.com/public/aboutus/investorrelations/financialinformation/ratings
https://www.nerdwallet.com/blog/insurance/reviews/lincoln-financial-life-insurance/
