When it comes to insurance, Lincoln Financial Life Insurance is an excellent choice. Those over the age of 50 as well as other high-risk borrowers can get low-interest loans from it. There is, however, no option to apply for whole-life insurance online.
- Lincoln Financial life insurance rates
- What affects my rate with Lincoln Financial?
- How to get a quote from Lincoln Financial life insurance
- What types of life insurance coverage does Lincoln Financial offer?
- What riders can I add to my policy?
- Lincoln Financial life insurance reviews and complaints
Lincoln Financial life insurance rates
Get an idea of what you’ll pay for a 20-year term life insurance policy for a healthy individual by reviewing these examples.
- Age 20. Male $25.81, Female $21.88
- Age 25. Male $25.81, Female $21.88
- Age 30. Male $28.44, Female $23.45
- Age 35. Male $32.38, Female $25.81
- Age 40. Male $38.94, Female $30.63
- Age 45. Male $51.58, Female $40.64
- Age 50. Male $78.71, Female $58.58
- Age 55. Male $123.77, Female $92.71
- Age 60. Male $213.46, Female $149.23
- Age 65. Male $406.31, Female $270.03
- Age 70. Male $819.70, Female $584.81
What affects my rate with Lincoln Financial?
Lincoln Financial uses a range of characteristics, including your age, gender, health, smoking status, and other habits, to determine your insurance rate. The following factors are taken into consideration:
- History of tobacco use. Candidates who haven’t smoked in the past three years are eligible for the best prices.
- Using and abusing drugs and alcohol in the past.There may be a discount for those who haven’t used or abused drugs or alcohol in the last seven to ten years.
- A medical history of one’s own and one’s family. Health insurance rates are reduced for persons who do not have a family history of cardiovascular disease, diabetes, and cancer. The best prices are only available to those who are 69 years old or younger with a blood pressure measurement of less than 130/80. Older individuals should have a blood pressure of 140/90 or below.
- Reputation as a driver. No more than three moving violations in the past three years and one DWI/DUI conviction are considered “clean” on a driver’s record.
- Hobbies and occupations. Pilots and other high-risk people may not be able to take advantage of special rates.
How to get a quote from Lincoln Financial life insurance
You can’t get insurance over the internet; instead, you’ll have to meet with a financial advisor. Use Lincoln Financial’s branch locator to find a location near you.
What types of life insurance coverage does Lincoln Financial offer?
- Term life insurance. Lincoln Financial offers term life insurance products with durations ranging from 15 to 30 years and death benefits ranging from $100,000 to $1 million in terms of death benefits. You may change any plan to permanent insurance at any time using the built-in convertibility option in all plans.
- Life insurance that’s available to everyone. With universal life insurance, which is both flexible and permanent, you may preserve tax-deferred money for the future. As a Lincoln Financial policyholder, you can use your cash value as collateral for tax-free life insurance loans. When you remove money, it decreases your death benefit amount.
- Life insurance with premiums that fluctuate based on the policy’s parameters. Life insurance policies that combine term coverage with tax-deferred increase in profits are known as variable universal life insurance (VUL). Consider the impact of borrowing against the cash value of your life insurance plan on your death benefit before taking out a loan.
What riders can I add to my policy?
A wide selection of choices are available to you when working with Lincoln Financial. Depending on your policy, you may be able to add the following types of coverage as riders to your policy:
- Accelerated death benefit rider. Some or all of your death benefit may be available to you if you become terminally ill, require long-term nursing home care, or require help due to a major illness.
- Rider for accidental death insurance. Supplemental compensation is available in the case of an accidental death in order to compensate for any unanticipated expenses.
- Rider who is under the age of 18. If you wish to, you can include a child in your insurance policy.
- Rider for conversions. You can convert your term insurance to a permanent policy without having to undergo another medical exam if you do it within a particular time period.
- Cost of living adjustment. A 3% or 5% yearly increase in the cost of long-term care is allowed under this policy
- Life-threatening disease compensates the rider. A lump sum payout may be available to you if you experience a serious illness, such as a stroke.
- Shortening the term of the rider. This option lets you to limit your death benefit at predetermined intervals in order to prevent being over-insured while paying off loans.
- A rider for the policy’s disability income insurance.
- A rider that ensures that you will be insured. In the future, you can raise your death benefit coverage without submitting to underwriting.
- Re-appearance of the premium rider When it comes to insurance policies, there are no-lapse guarantees and reimbursements for basic or vested premiums.
- Refund policy with a rider. Your loved ones will be compensated for the premiums you paid when you were alive.
- A rider for long-term care insurance. Until you reach the age of one hundred, you should think about adding a low-cost death benefit to your policy.
- Rider opts out of paying for premium services. Your insurance premiums are waived in the case of disability, severe illness, or injury.
Lincoln Financial life insurance reviews and complaints
Lincoln Financial boasts an A rating for customer service, despite the fact that the BBB hasn’t accredited the company. Until yet, the BBB hasn’t received any customer complaints or feedback. AM Best gave the company an A+ rating.
According to JD Power‘s study of life insurance customer satisfaction, Lincoln Financial ranked 11th out of 22 insurers questioned. 3 out of 5 stars indicates that it’s doing well, but there’s space for development in terms of customer service and involvement.
Visit our review of Lifefy Life Insurance Review for one more insurance review.