Lincoln LifeGuarantee ® UL (2013)
Lincoln LifeGuarantee® UL (2013) is the universal life policy guaranteed to be there for your beneficiaries. Guarantees are subject to the claims-paying ability of the appropriate issuing company.
What can Lincoln LifeGuarantee® UL (2013) do for you?
- Let’s you protect what's most important with a death benefit that can be guaranteed
- Offers guaranteed premiums
- Can provide you affordable, guaranteed lifetime insurance coverage
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 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 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® UL (2013), 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
Lincoln LifeGuarantee® UL (2013) provides a level death benefit option. Loans or withdrawals offset death benefits.
Accelerated Benefits Rider
The Accelerated Benefits Rider 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. There is a one-time charge for this rider when it is exercised.
Accelerated Benefits Rider with Critical Illness
The Accelerated Benefits Rider with Critical Illness 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. There is a one-time charge for this rider when it is exercised. Accelerated death benefits may be taxable and may affect public assistance eligibility. This rider is not available in Connecticut, Maryland 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.
Lincoln LifeEnhance® Accelerated Benefits Rider
This rider pays a benefit if you were to become permanently chronically ill or are diagnosed as terminally ill (life expectancy of 12 months or less). Benefits for chronic illness may be paid monthly or as a one-time lump sum. (Up to 100% of Death Benefit through payments). Terminal illness benefit is a lump sum (up to 50% of Death Benefit).
The Minimum Death Benefit Endorsement
The Minimum Death Benefit Endorsement gives you the security of knowing that the beneficiaries will never receive less than the death benefit minus total policy debt (policy loan plus accrued interest) plus $5,000.
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.