Lincoln LifeCurrent ® UL
Lincoln LifeCurrent® UL is a universal life policy that provides up to a 20-year secondary death benefit guarantee and builds account value tax-deferred for your future use. Guarantees are backed by the claims-paying ability of the appropriate issuing company.
What can Lincoln LifeCurrent® UL do for you?
- Provide you with valuable life insurance protection
- Provide ability to adjust your premium payments and coverage amount over time to keep pace with your lifestyle
- Provide significant account value growth
Coverage Protection Guarantee
The Coverage Protection Guarantee (CPG) is built into the base policy and is included automatically at issue. It runs for up to 20 years or to the insured's age 90, whichever occurs first, and helps you protect what's most important to you by guaranteeing your coverage during the CPG period. 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, or adding riders may terminate the guarantee or reduce its duration. In most cases, policy owners may make additional payments to place the guarantee back into effect, but this will result in increased out-of-pocket costs. Policy owners 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 LifeCurrent® UL, you can choose how to finance your policy by adjusting:
- The amount of death benefit protection
- The amount and frequency of premium payments
For people who are looking for more cost-efficient protection, or for those whose financial needs will grow in the future, Lincoln LifeCurrent® UL provides three death benefit options:
- Death Benefit Option 1 (level face amount)
- Death Benefit Option 2 (face amount plus account value)
- Death Benefit Option 3 (face amount plus premiums paid)
Loans or withdrawals offset death benefits under any of the three options. Ask your advisor which option is best for you.
Accelerated Benefits Rider (no critical illness)
The Accelerated Benefits Rider (no critical illness), 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.
Accelerated Benefits Rider (with critical illness)
The Accelerated Benefits Rider (with critical illness), available at an additional cost, pays out a portion of the death benefit if you were to fall terminally ill, require permanent nursing home care, or need help during a critical illness or condition. Accelerated death benefits may be taxable and may affect public assistance eligibility. This rider is unavailable in Connecticut, Maryland, New York and Pennsylvania.
Accidental Death Benefit Rider
The Accidental Death Benefit Rider, available at an additional cost, can help offset the financial burden by offering an additional amount in the event of a death due to an accident.
Children's Term Rider
With the Children's Term Rider, available at an additional cost, you have the choice of insuring your child under your own policy.
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.
Guaranteed Insurability Rider
The Guaranteed Insurability Rider, available at an additional cost, gives you the ability to increase your death benefit coverage in the future without additional underwriting.
Spouse Term Rider
With the Spouse Term Rider, available at an additional cost, you have the choice of insuring your spouse under your own policy. This rider is unavailable in New York.