LINCOLN LIFEELEMENTS®&NBSP; LEVEL TERM (2009)
affordable life insurance protection from a name you can trust
Is Lincoln LifeElements® Level Term right for you?
- Do you have a temporary need for insurance protection?
- Are you looking for affordable death benefit protection?
- Do you have the need for short-term protection with the potential to convert to long-term protection in the future?
If you answered "yes" to any of these questions, Lincoln LifeElements® Level Term may be right for you.
What is Lincoln LifeElements® Level Term?
Lincoln LifeElements® Level Term is a term insurance policy with guaranteed level premiums for your choice of 10, 15, 20, or 30 years. (30-Year Term is not available in Maryland)
That means that you pay the same low rate every year, and your premium is guaranteed not to change during the selected premium period. Plus, your policy is guaranteed not to be cancelled as long as you continue to pay premiums to keep it in-force.
Renewing your policy
After the selected term period, you can elect to continue coverage up until age 95. Premiums will increase annually based on your initial underwriting classification.
Covering your changing needs
Before the end of your level term period, or to attained age 70, whichever is earlier, you can convert your Lincoln LifeElements®Level Term policy to a permanent life insurance policy that Lincoln makes available, without going through the underwriting process again.
Level Premium Guarantee Period:
|Guaranteed Level Premium Periods: 10, 15, 20, or 30 years. The premium scale will be guaranteed for the entire level premium period: 10, 15, 20 or 30 years. After the level premium period, premiums will increase annually until age 95. (30-Year Term is not available in Maryland)|
Minimum Face Amount: $250,000
Maximum Face Amount: Subject to individual consideration.
Policy Fees: $125 annually, payable in all years.
Term / Class
|Nationwide||Washington & New York||Maryland|
|10-Year Term: Non Tobacco Classes||18 - 75||18 - 70||18 - 75|
|10-Year Term: Tobacco Classes||18-75||18 - 70||18 - 70|
|15-Year Term: All Classes||18 - 60||18 - 65||18 - 60|
|20-Year Term: Non Tobacco Classes||18 - 60||18 - 60||18 - 50|
|20-Year Term: Tobacco Classes||18 - 60||18 - 60||19 - 40|
|30-Year Term: Non Tobacco Class*||18 - 50||18 - 50||Not Available|
|30-Year Term: Tobacco Class*||19- 45||18 - 45||Not Available|
*30-Year Term is not available in Maryland
|Waiver of Premium Rider:||Available at an additional cost, waives premium payments during the disability period of an insured who becomes totally disabled.|
|Children's Level Term Insurance Rider:||Available at an additional cost, provides level term coverage for all children of the insured.|
|Accelerated Benefit Rider:||Pays out a portion of the death benefit if you were to develop a terminal illness likely to result in death within 6 months. 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.|
Important disclosures. Please read.
Lincoln LifeElements®Level Term is issued on policy form TRM5065 and state variations by The Lincoln National Life Insurance Company, Fort Wayne, IN. Contractual obligations are backed by the claims-paying ability of The Lincoln National Life Insurance Company. In New York, contracts are issued on policy form TRM5065N by Lincoln Life & Annuity Company of New York, Syracuse, NY. Contractual obligations are backed by the claims paying ability of Lincoln Life & Annuity Company of New York.
Lincoln Financial Group® is the marketing name for Lincoln National Corporation and its affiliates.
Product and features are subject to state availability.
This material was prepared to support the promotion and marketing of a life insurance product. 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 your own independent advisor as to any tax, accounting, or legal statements made herein.