Lincoln LifeGuarantee ® SUL (2019)
Lincoln LifeGuarantee® SUL (2019) 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 LifeGuarantee® SUL (2019) 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
Coverage Protection Guarantee
Guaranteed life insurance protection is provided through the Coverage Protection Guarantee (CPG). The CPG provides an 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’s 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 (2019), 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 (2019) includes:
- Death Benefit Option 1 (level face amount). Loans and withdrawals offset death benefits.