Lincoln Financial Life Insurance is an outstanding alternative when it comes to insurance. It offers low-interest loans to those over the age of 50 and other high-risk clients. However, there is no online application for whole-life insurance. This Lincoln Financial Life Insurance Review is an excellent resource for resolving your concerns.
- Lincoln Financial life insurance rates
- What affects my rate with Lincoln Financial?
- How to get a quote from Lincoln Financial life insurance
- What types of life insurance coverage does Lincoln Financial offer?
- What riders can I add to my policy?
- Lincoln Financial life insurance reviews and complaints
Lincoln Financial life insurance rates
Consider the following instances to determine the cost of a 20-year term life insurance policy for a healthy individual.
- Age 20. Male $25.81, Female $21.88
- Age 25. Male $25.81, Female $21.88
- Age 30. Male $28.44, Female $23.45
- Age 35. Male $32.38, Female $25.81
- Age 40. Male $38.94, Female $30.63
- Age 45. Male $51.58, Female $40.64
- Age 50. Male $78.71, Female $58.58
- Age 55. Male $123.77, Female $92.71
- Age 60. Male $213.46, Female $149.23
- Age 65. Male $406.31, Female $270.03
- Age 70. Male $819.70, Female $584.81
What affects my rate with Lincoln Financial?
Lincoln Financial determines your insurance quote based on a variety of factors, including your age, gender, health, smoking status, and other behaviors. The following factors are considered:
- Tobacco usage history. Candidates who have not smoked in the preceding three years qualify for the lowest pricing.
- Previously used and abused drugs and alcohol. Discounts may be available to those who have not used or misused drugs or alcohol in the preceding seven to ten years.
- A personal and family medical history. Individuals without a family history of cardiovascular disease, diabetes, or cancer pay less for health insurance. Only individuals aged 69 years or younger with a blood pressure reading of less than 130/80 qualify for the lowest discounts. Individuals over the age of 65 should maintain a blood pressure of 140/90 or below.
- As a driver, you have a reputation. A driver’s record is deemed “clean” if he or she has received no more than three moving tickets in the preceding three years and one DWI/DUI conviction.
- Hobbies and careers. Pilots and other high-risk individuals may not be eligible for special pricing.
How to get a quote from Lincoln Financial life insurance
Insurance cannot be purchased online; you must meet with a financial counselor. Locate a branch near you with Lincoln Financial’s branch locator.
What types of life insurance coverage does Lincoln Financial offer?
- Insurance for the term of your life. Lincoln Financial offers term life insurance policies with term lengths of 15 to 30 years and death payouts ranging from $100,000 to $1 million. You may convert any plan to permanent insurance at any moment by utilizing the built-in convertibility feature included with all plans.
- Everyone has access to life insurance. You may save tax-deferred money for the future by purchasing universal life insurance, which is both flexible and permanent. You can use your cash worth as collateral for tax-free life insurance loans as a Lincoln Financial policyholder. When you withdraw funds, the amount of your death benefit diminishes.
- Life insurance with variable premiums determined by the policy’s specifications. Variable universal life insurance products combine term coverage with tax-deferred profit growth (VUL). Before taking out a loan against the cash value of your life insurance policy, consider the effect on your death benefit of borrowing against the cash value.
What riders can I add to my policy?
When you deal with Lincoln Financial, you have a variety of options. You may be able to add the following types of coverage as riders to your insurance, depending on your policy:
- Accelerated death benefits riders. You may be eligible to receive a portion or all of your death benefit if you become terminally ill, require long-term nursing home care, or require assistance due to a serious disease.
- Rider for accidental death insurance. Supplemental compensation is given in the event of an unintentional death to cover any unexpected expenditures.
- Rider who is under the age of 18. You may include a kid in your insurance coverage if you choose.
- Conversion rider. If you switch your term insurance to a permanent policy within a specified time period, you can avoid having to undergo another medical test.
- Adjustment for cost of living. This insurance allows for a 3% or 5% annual increase in the expense of long-term care.
- The rider is compensated with life-threatening sickness. If you suffer a major illness, such as a stroke, you may be eligible for a lump sum payment.
- Reduce the rider’s term. This option allows you to reduce your death benefit at regular intervals to avoid being over-insured while repaying debts.
- A rider that adds disability income insurance to the policy.
- A rider that secures your insurance coverage. You may increase your death benefit coverage in the future without being subjected to underwriting.
- The premium rider’s reappearance. There are no-lapse guarantees and refunds for basic or vested premiums on insurance plans.
- Refund policy with an exception. Your surviving family members will be reimbursed for the premiums you paid while living.
- A long-term care insurance rider. You should consider adding a low-cost death benefit to your insurance until you reach the age of one hundred.
- The rider declines to pay for premium services. In the event of incapacity, serious sickness, or injury, your insurance premiums are waived.
Lincoln Financial life insurance reviews and complaints
Lincoln Financial maintains an A rating for customer service despite the fact that the firm is not certified by the Better Business Bureau. The BBB has received no consumer complaints or feedback yet. AM Best rated the firm A+.
Lincoln Financial was placed 11th in a JD Power assessment of life insurance customer satisfaction, out of 22 insurers surveyed. Three out of five stars means that the business is performing well, but there is room for improvement in terms of customer service and engagement.
Take a look in other company and compare their services and products, check out Ladder Life Insurance Review.