LINCOLN LIFEGUARANTEE® SUL (2009)
Guaranteed Universal Life Insurance coverage on two lives, payable at the second death
Lincoln LifeGuarantee® SUL (2009) is a survivorship universal life policy that's payable on the second death and guaranteed to be there for your beneficiaries to provide estate liquidity, or a family or charitable legacy. Guarantees are backed by the claims-paying ability of the appropriate issuing company.
What can Lincoln LifeGuarantee® SUL (2009) do for you?
- Provides a powerful tool for estate planning that can provide a guaranteed death benefit to beneficiaries when the second of the two insureds dies
- Offers guaranteed premiums
- Can provide you with affordable, guaranteed lifetime insurance coverage
Coverage Protection Guarantee
The Coverage Protection Guarantee (CPG) is built into the base policy and is included automatically at issue. It runs to the younger insured's age 121 and helps you protect what's most important to you by guaranteeing that your coverage will be there for life. Here's how:
During the CPG Period, the CPG guarantees that the policy will not lapse even if the cash surrender value is insufficient to cover the monthly deductions. Any changes to the policy such as loans, partial withdrawals, changes in the death benefit, changes in scheduled premiums, and adding riders may terminate the guarantee or reduce its duration. In most cases, policyowners may make additional payments to place the guarantee back into effect, but this will result in increased out-of-pocket costs. Policyowners may forego the advantage of building up a significant account value by paying only the premium required to keep the CPG in effect.
Choice and Flexibility
With Lincoln LifeGuarantee® SUL (2009), you can choose how to finance your policy by adjusting:
- The amount of the guaranteed death benefit protection
- The amount and frequency of premium payments
- The length of the guarantee period
For people who are looking for a cost-efficient protection, or for those whose financial needs will grow in the future, Lincoln LifeGuarantee SUL (2009) provides two death benefit options:
- Death Benefit Option 1 (level face amount)
- Death Benefit Option 2 (face amount plus account value)
Loans or withdrawals offset death benefits under any of the two options. Ask your advisor which option is best for you.
|The Accelerated Benefits Rider, available at an additional cost, pays out a portion of the death benefit if you were to fall terminally ill or require permanent nursing home care. It may be elected after policy issue. Please note that in New York, this rider applies to terminal illnesses only and provides no coverage for nursing home stays. Accelerated death benefits may be taxable and may affect public assistance eligibility.|
|The Accelerated Benefits Rider with First Death Benefit, available at an additional cost, pays the survivor a cash benefit upon the first death and provides enhanced protection for the survivor in the event of critical or terminal illness, or confinement to a nursing home. Accelerated death benefits may be taxable and may affect public assistance eligibility. This rider is unavailable in CT, MD, NY and PA.|
|The Disability Waiver of Monthly Deductions Benefit Rider, available at an additional cost, waives the monthly deduction and other charges if you become totally disabled.|
|The Disability Waiver of Specified Premium Rider, available at an additional cost, covers you for a monthly specified premium if you become totally disabled.|
|The Estate Protection Rider, available at an additional cost, provides an additional term insurance benefit for four years after policy issue. This rider is unavailable in New York.|
|The Federal Estate Tax Repeal Endorsement lets you decrease the specified amount of death benefit and defer partial surrender charges should the federal estate tax be permanently reduced to zero.|
|The Guaranteed Policy Split Option Rider, available at an additional cost, offers you the flexibility and convenience of splitting one survivorship policy into two individual policies in the event of divorce, repeal of the unlimited marital deduction, or reduction in the estate tax rate to 25% or less. The policy split requires no additional evidence of insurability.|
|The Minimum Death Benefit Endorsement gives you the security of knowing that your beneficiaries will never receive less than the death benefit minus total policy debt (policy loan plus accrued interest) plus $5,000.|
Contact your financial advisor today to learn how Lincoln LifeGuarantee® SUL can help protect your legacy.
Important disclosures. Please read.
Lincoln LifeGuarantee®SUL is issued on policy form SUL5030 and state variations by The Lincoln National Life Insurance Company, Fort Wayne, IN. The Lincoln National Life Insurance Company is not authorized, nor does it solicit business in the state of New York. In some states, contract terms are set out and coverage may be provided in the form of certificates issued under a group policy issued by The Lincoln National Life Insurance Company to a group life insurance trust. Contractual obligations are backed by the claims-paying ability of The Lincoln National Life Insurance Company.
Policies sold in New York are issued on policy form SUL5030N by Lincoln Life & Annuity Company of New York, Syracuse, NY. The contractual obligations are backed by the claims-paying ability of Lincoln Life & Annuity Company of New York.
Product and features subject to availability.
This material was prepared to support the promotion and marketing of universal life insurance products. Lincoln Financial Group affiliates, their distributors, and their respective employees, representatives, and/or insurance agents do not provide tax, accounting, or legal advice. Any tax statements contained herein were not intended or written to be used, and cannot be used for the purpose of avoiding U.S. federal, state, or local tax penalties. Please consult with your own independent advisor as to any tax, accounting, or legal statement made herein.
Not a deposit. Not FDIC-insured. Not insured by any federal government agency. Not guaranteed by any bank or savings association. May go down in value.