Lincoln National, known formerly as Lincoln National Corporation, is a Fortune 250 company, which provides insurance products and investment management to customers throughout the United States.
Since 1905, the company has been known as one of the most stable and reputable life insurance companies. This holds true today, with these numbers backing that up:
- Approximately 9,000 employees
- Revenue of roughly $14 billion in 2017
- Total assets of $262 billion as of 2017
While these numbers don’t necessarily signify that Lincoln National is the best indexed universal life insurance company for you, they should at least point you in the right direction.
The Good
Strong Financial Ratings
Buying any type of life insurance from an unstable provider is a big mistake, as you never know if they’ll be around in the future to payout the death benefit of your policy.
Lincoln National excels in this area, with the following financial ratings:
- A.M. Best Rating: A+
- Standard & Poor’s Rating: AA-
- Moody’s Rating: A1
- Fitch Rating: A+
For a better idea of just how strong this is, consider the following: an A.M. Best rating of A+ is the second highest possible rating out of 16.
Three Unique Indexed Universal Life Products
When buying indexed universal life insurance, you don’t want to be forced into a corner. Instead, you want access to a variety of policies, as this allows you to make a more informed decision.
Lincoln National has three unique types of indexed universal life insurance to choose from, including the following:
- Lincoln WealthAccumulate IUL
- Lincoln WealthPreserve IUL
- Lincoln WealthPreserve Survivorship Indexed UL
All three of these are popular options, so you’ll want to learn more before making a final decision.
Lincoln WealthAccumulate IUL is a top choice among consumers, as it provides a death benefit along with growth potential linked to S&P 500 market index performance.
The peace of mind of a death benefit is good to have, but the growth component provides access to money now or later in life.
Competitive Pricing
Despite the fact that Lincoln National is one of the most well known life insurance companies in the world, its pricing structure is competitive across the board.
Lincoln National doesn’t offer the cheapest indexed universal life insurance products, but they’re definitely not the most expensive either. And of course, you always get what you pay for when it comes to life insurance.
By reading a variety of online reviews from current and past customers, you’ll find that its pricing structure is extremely competitive. It’s nice to know you don’t have to worry about this when buying coverage.
Amazing Projection
Lincoln National’s projections are one of the best in the market place. You will see that under any scenario with good market performance, Lincoln’s IUL will come on top. However that’s the good and the bad as well.
The Not So Good
Optimistic Projections
Lincoln has a great IUL, but sometimes it’s projections are very unrealistic. This can lead to very optimistic scenarios that are not very likely to happen. We recommend you use a more cautious approach and illustrate projections that are good and not so good. This will give you an idea of what happens if the market doesn’t perform like you would hope.
Poor Customer Service
Despite the fact that you can find an advisor via its website, contact a representative by phone or email, and manage your account online, there are still many complaints about less than ideal customer service experiences.
This is something to keep in mind, but not a deal breaker. The best way to protect against this is by working closely with a trusted broker. This goes a long way in ensuring that you secure the right policy, at the right price, without any hassles.
Final Word
You can’t go wrong when you purchase a Lincoln National indexed universal life insurance policy.
The company has a long history of success, its financial strength is through the roof, and there are three distinct types of policies to consider.
If you’re in the market, you should also look into other companies, such as Voya or Penn Mutual to ensure that you know exactly what’s available to you.
For more information read our article on comparing Indexed Universal Life policies.
