LINCOLN LIFEGUARANTEE® SUL (2013)
Guaranteed Universal Life Insurance coverage on two lives, payable at the second death
Lincoln LifeGuarantee® SUL (2013) 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 subject to the claims-paying ability of the appropriate issuing company.
What can Lincoln LifeGuaranteee® SUL (2013) 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
Guaranteed life insurance protection is provided through the Coverage Protection Guarantee (CPG). The CPG provides and alternate Coverage Protection Value (CPV) that, if positive, will ensure coverage will continue even if the cash surrender value is insufficient to cover charges. This rider is included automatically and can remain in force until the younger insured's age 121.
The length of time the CPG can keep the policy in force may vary based on the following factors:
- Satisfying the monthly Funding Level Test
- Changes in premium frequency, timing or amount
- Policy changes such as loans, partial surrenders, increases or decreases in Specified Amount and the addition or removal of Riders
Funding Level Test (FLT): Beginning in policy month 13, there is a FLT until the earlier of the younger insured's age 121 or termination of the FLT as described in the rider. Failure to satisfy the FLT for three consecutive monthly anniversary days will result in the assessment of a Funding Level Charge, which will negatively impact the length of time the CPG remains in effect.
Choice and Flexibility
With Lincoln LifeGuarantee® SUL (2013), you can customize 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 cost-efficient protection Lincoln LifeGuarantee® SUL (2013) includes:
- Death Benefit Option 1 (level face amount). Loans and withdrawals offset death benefits.
|Accelerated Benefits Rider||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.|
|Accelerated Benefits Rider with First Death Benefit||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 benefit may be taxable and may affect public assistance eligibility.This rider is unavailable in CT, MD and PA.|
|Disability Waiver of Monthly Deductions Benefit Rider||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.|
|Disability Waiver of Specified Premium Rider||The Disability Waiver of Specified Premium Rider, available at an additional cost, covers you for a monthly specified premium if you become totally disabled.|
|Estate Protection Rider||The Estate Protection Rider, available at an additional cost, provides an additional term insurance benefit for four years after policy issue.|
|Guaranteed Policy Split Option Rider||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.|
|Minimum Death Benefit Endorsement||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 (2013) can help protect your legacy.
Important disclosures. Please read.
Lincoln LifeGuarantee® SUL (2013) is issued on policy form SUL6008 and state variations by The Lincoln National Life Insurance Company, Fort Wayne, IN. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so. Contractual obligations are subject to the claims-paying ability of The Lincoln National Life Insurance Company.
In some states, contract terms are setout and coverage may be provided in the form of certificates issued under a group policy issued by The Lincoln Financial Services Industry Group Insurance Trust.
Product and features subject to state availability. Limitations and exclusions may apply. Not available in New York.
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.