Lincoln Financial Life Insurance Review

If you have life insurance, then you can be much more assured that those you love and care about won’t have to face a whole host of financial difficulties in the future. These could include the payoff of debt, making sure that they can pay ongoing living expenses and the payment of your funeral and other final expenses (which today can easily exceed $8,000).

For some people, qualifying for life insurance coverage can be easy – especially if they are young and in good health. But what if you have certain adverse health issues, or if you work in what is considered to be a risky occupation? Then it could be more difficult.

There is a potential solution, though. That is by purchasing a no exam life insurance policy. Unlike “traditionally underwritten” life insurance, where the applicant is required to undergo a blood, and urine test, no exam life insurance does not require this – and in turn, those who have various issues may be more easily able to be approved.

It is important to note, though, that not all no exam life insurance policies are the same. Therefore, you should be sure that before you move forward with the purchase of a policy, you are going with the proper amount and type of coverage. It is also important that you research the insurance company that you are considering the purchase of a policy through to be sure that it is strong and stable financially, and that it has a good, positive record of paying out its policyholder claims. One insurance carrier that meets these criteria is Lincoln Financial Group.

The History of Lincoln Financial Life Insurance Company

Lincoln Financial Group has more than 110 years of experience in the insurance and financial services industry. Initially founded in 1905, this company is now listed as a Fortune 250 American holding company.

This large insurance and financial conglomerate operates numerous insurance and investment management companies via subsidiary businesses. Its primary operations are divided into various products, including life insurance, annuities, retirement plan services, and group protection.

Its name, Lincoln Financial Group, is the marketing name for LNC as well as its subsidiary companies. The primary subsidiaries of Lincoln include the following:

  • Lincoln National Life Insurance Company
  • Lincoln Life and Annuity Company of New York
  • First Penn-Pacific Life Insurance Company
  • Lincoln Financial Distributors
  • Lincoln Financial Advisors
  • Lincoln Financial Group is headquartered in Radnor, Pennsylvania.

Lincoln Financial Life Insurance Review

As of year-end 2016, Lincoln National brought in nearly $14 billion in overall revenue, and the company held approximately $262 billion in total assets. And, as of mid-2017, the company’s total life insurance sales increased by 14 percent to just under $200 million.

Lincoln National offers a number of wealth accumulation and protection products, which are inclusive of both term and permanent life insurance, as well as annuities. The company is also known for having affordable life insurance premium rates.

Insurer Ratings and Better Business Bureau Grade

Due in large part to the company’s strong financial foundation, Lincoln Financial Group has received high marks from the insurer rating agencies. This includes a grade of A+ (Superior) from A.M. Best Company, as well as an A+ from Fitch Ratings, an A1 from Moody’s Investor Services, and an AA- from Standard & Poor’s. Lincoln also has a Comdex ranking of 90 (out of a total 100).

Also, even though Lincoln Financial Group is not an accredited company of the Better Business Bureau (BBB), it has been given a grade of A+ by the BBB. This grade is based on an overall grade scale of A+ to F.

Over the past three years, Lincoln Financial Group has closed out a total of 58 customer complaints through the Better Business Bureau, of which 19 have been closed out within the past 12 months.

Of these today 58 complaints, 44 had to do with problems with the company’s products and services, and another 7 were related to advertising and/or sales issues. Additionally, 6 such complaints were related to delivery issues, and the other one was related to delivery issues.

No Exam Life Insurance Products Offered by Lincoln Financial Life Insurance Company

One of the key products that is offered by Lincoln Financial is its no exam term life insurance product. The TermAccel product is a level term insurance policy, which means that the plan offers coverage for 15 years, 20 years, or 30 years, and that the coverage amount and the premium rate will remain level throughout that time frame.

Those who are between the ages of 18 and 50 are allowed to apply for this policy option, and the death benefit amount can range between a low of $100,000 and a high of $500,000. Also, there are some riders that may be added to this policy, such as the:

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

For those who may wish to have permanent life insurance coverage in the future, the Lincoln TermAccel policy may be converted over into a permanent life insurance policy if the policyholder moves forward with such a conversion by the end of the term’s coverage or by age 70 (whichever occurs first).

Other Products and Services Available

In addition to its no exam life insurance policy offerings, Lincoln Financial Group also offers other types of life insurance coverage, including term and permanent (which is inclusive of universal life insurance and variable universal life insurance options).

With term life insurance, there is death benefit coverage only, without any type of cash value or savings build up – and because of that, term life insurance can often be much more affordable than a comparable permanent life insurance policy option (with all other factors being equal).

Lincoln Life offers the Elements Leven Term product. Here, applicants for coverage can choose between time lengths of 10 years, 15 years, 20 years or 30 years. Both the amount of the coverage, and the amount of the premium, will remain level through these time frames. Then, after the time expires, the policy will renew on an annual term life insurance basis until the insured turns age 95.

There is also a long list of different permanent life insurance policy options that are available through Lincoln Life. Permanent life insurance includes both death benefit protection and cash value build up.

As the name suggests, permanent life insurance is designed for remaining in force permanently, or throughout the remainder of the insured’s life. The cash that is within the policy’s cash value component is allowed to grow on a tax-deferred basis, meaning that there is no tax due on the growth of these funds unless or until they are withdrawn.

A policyholder can withdraw or borrow these funds for any reason that they desire, including paying off higher interest debts, supplementing retirement income, or even for taking a nice vacation.

Some of the more popular permanent life insurance coverage options that are offered by Lincoln include universal life. Here, the policyholder has a great deal of flexibility in terms of when to pay their premium, and how much of that premium will go towards the death benefit, and how much will go toward the cash value component. (There are certain guidelines, though, that must be followed here).

For example, with the Lincoln Life Guarantee UL (universal life) insurance policy, there is a level death benefit option, as well as a guaranteed interest rate on the cash value. The premium rate is also guaranteed.

There is also the Indexed UL Accumulator policy option. This is an indexed universal life insurance policy. With indexed universal life insurance, the return on the policy’s cash value component will be based in large part on the performance of an underlying market index, such as the S&P 500.

In this case, should the underlying index perform well during a given year, then a positive return will be credited to the policy’s cash value – typically up to a set maximum, or “cap.” If, however, the underlying market index performs poorly during a given year, then the cash value is just simply credited with a 0 percent. So, while there is no gain, there is also no loss – which in turn, allows the policyholder protection of their principal, as well as with peace of mind.

Several different riders may be added to Lincoln’s life insurance policies. These may include the:

  • Waiver of Premium Rider – With this rider, should the insured become ill or disabled and unable to work, the premium on the life insurance policy will be waived, thus keeping the coverage in force. There is usually an additional fee added to the policy’s premium to include this rider.
  • Child Term Life Rider – This rider allows an insured to add additional life insurance coverage for his or her eligible children, typically for an additional amount of premium.
  • Terminal Illness Accelerated Death Benefit Rider – This rider will allow the insured to access funds from the policy’s death benefit if he or she is diagnosed with a qualifying terminal illness (and usually requiring a life expectancy of six months or less). This particular rider is automatically included on many of Lincoln’s life insurance policies.

In addition to the life insurance policies that are offered by Lincoln National, the company also offers a wide variety of retirement annuities, as well as college savings plans, workplace benefits, and combination long-term care/life insurance policies, which can provide a range of protection for a number of different needs.

One of the more popular products that is offered by Lincoln Financial Group is its MoneyGuard ll. This is a combination life insurance / long-term care policy that will provide income benefits to the insured if he or she requires long-term care, and also offers life insurance protection if needed.

How to Get the Best Premium Rates on No Exam Life Insurance Through Lincoln Life

If you are seeking the best premium rates on a no exam life insurance policy through Lincoln Financial Group – or from any insurance company, for that matter – then it is typically recommended that you work with an independent life insurance agency or brokerage that can show you a long list of policy options from numerous insurance carriers.

That way, you will be much more easily able to compare the benefits and the premium quotes, and from there you can decide which one will work the best for your specific needs, as well as for your budget.

When you are ready to move forward with the life insurance quote process, we can help. We are an independent life insurance entity, and we work with many of the top providers of no exam life insurance coverage. We can provide you with all of the information that you need to make a well-informed purchasing decision – and we can do this for you very quickly and conveniently, all from your own computer, and without the need for you to meet in person with a life insurance agent. If you would like to proceed, all you have to do is just simply fill in the quote form on this page.

Should you find that you still have any additional questions or concerns, then please feel free to reach out to us directly via phone. Our experts are here and are ready to answer any of your questions or concerns. You can call us, toll-free, by dialing 800-277-3098.

We understand that the purchase of life insurance coverage can be somewhat challenging. This is particularly the case if you have been turned down for life insurance protection in the past. But the good news is that the process of purchasing a no exam life insurance policy can be much easier when you are working with an ally on your side. So, contact us today – we’re here to help.


Susan Wright holds a BA from Michigan State University and an MBA from St. Louis University. Having over 20 years of working experience in the insurance and financial services industry, she has trained more than 10,000 financial services representatives. Susan has had licenses in real estate, insurance, and NASD Securities, and she has earned nine industry professional designations, including CLU, ChFC, RHU, REBC, CSA, CLTC, CCFC, CSS, and ADPA. Read more about her on Google+

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