Lincoln Financial Life Insurance

Lincoln Financial Life Insurance
UPDATE: Lincoln has made many enhancements to their product line. Every article we’ve seen regarding Lincoln Financial life insurance is outdated so if you see any discrepancies online, our information is current and correct.

Lincoln Financial is also known as The Lincoln National Life Insurance Company.  For quotes, fill out the form on the right and you’ll see them displayed on the next screen.

Year Formed: 1905
AM Best Financial Rating: “A+” (excellent)
Customer Service Phone #: (800) 487-1485
Lincoln Financial Life Insurance Products:

  • Term Life: Lincoln LifeElements Level Term, TermAccel
  • Universal Life: Lincoln LifeGuarantee, Lincoln DurationGuarantee, Lincoln LifeCurrent, Lincoln LifeReserve

Lincoln Financial is a widely respected company by veteran life insurance agents. Their term life insurance has very competitive pricing and underwriting, while keeping conversion options strong – which means you can convert your term life insurance policy into a permanent one with no underwriting involved.

In other words, if Lincoln is the right company for you based on rates and your own unique underwriting risk (health, lifestyle etc), don’t hesitate to use them. They’re a great company to work with and we’re very critical of other life insurance companies on this website.

Keep in mind, you have to go through a licensed agent or agency to purchase a Lincoln Financial life insurance policy or even get a Lincoln Financial life insurance quote. If you go through their website, they’ll just send you to a licensed agent. Rates are the same no matter who you go through as we all use the same published rates.  Again, complete the form on this page and you’ll see rates for Lincoln and how they stack up to other life insurance companies.

On top of that, there could be no exam up to $1,000,000 (under age 50) if your client’s qualify, through Lincoln Financial’s TermAccel product.  Lets cover that next:

Lincoln Financial TermAccel

This is by far Lincoln’s most popular product and one we can highly recommend for it’s ease of use and low rates from such a strong company.

Lincoln TermAccel offers an entirely electronic, streamlined Tele-App process with fully automated underwriting with absolutely no medical records required ever!

What this means to you is Lincoln has simplified the application process, so there won’t be a packet of documents you have to sign – everything is done electronically and over the phone. Also they won’t go after your medical records which means you’ll get an approval quickly.

The average life insurance application process takes 30-45 days, with Lincoln you’ll typically have a decision within 10 business days and we’ve seen approvals in as little as 48 hours.

Here’s the highlights of TermAccel:

  • Face Amount: $100,000 – $1,000,000 max
  • Issue ages: 18 – 60
  • Term Periods: 10-Year, 15-Year, 20-Year, and 30-Year
  • Lincoln is a “top 4 carrier” in rates for ages 30-60 for face amounts of $250,000 – $1,000,000
  • No APS ever necessary

We’ve placed a lot of our client’s with Lincoln’s TermAccel and would recommend this product to anyone.  Every month, we see more and more life insurance consumers flocking to this product because of it’s simplicity and low rates.

If for some reason you don’t qualify for TermAccel because you need more than $1,000,000, your age or you can’t qualify medically, Lincoln’s Life Elements product is the next best thing.

Lincoln Financial Life Elements Term Life Insurance

For those that need more than $1,000,000 of life insurance or don’t qualify for TermAccel – Lincoln’s Life Elements is their traditional term product that’s very competitive. It’s got a big market-share in the term life insurance space for amounts over $1,000,000 of coverage.

As far as pricing goes, it’s always in the top 3 for coverage amount’s over $1,000,000 at ages 45+ for all term periods.

It’s also in the top 3 for coverage amount’s over $500,000 for ages 55+ for all term periods.

A lot of financial advisors and estate planning cases use Lincoln’s Life Elements product because of how competitive the rates are and how inexpensive they are for their demographics.

Both TermAccel or LifeElements are great products.

Lincoln Financial Underwriting

Lincoln has always been on the cutting edge of underwriting by taking into account current mortality data on growing segments of the population like marijuana users.

At Rootfin, we use Lincoln Financial in a number of niche underwriting situations, including:

  • Recreational or Prescription marijuana use can get qualify  for non-tobacco rates!  A lot of marijuana users are flocking to Lincoln while the rest of the industry catches up to their forward thinking underwriting.
  • Anxiety issues with Wellbutrin Use can qualify for preferred rates!  Many life insurance companies will start at standard rates with many companies even rating the case – making it more expensive.
  • NON-SMOKER rates for those who smoke cigars, pipes and chew tobacco.  Lincoln will provide a Standard non-smoker rating in these instances when 90% of the life insurance industry will consider them smokers which doubles your payments.
  • Standard rates on UL policies for Type 1 and Type 2 diabetes via their table shave program.  More information on what that means below.
  • Standard rates for prostates removed after 6 months with a PSA of .02 or less.  Preferred rates are available if you any prostate cancer history and are over age 70.

These are just some of the situations where Lincoln is really competitive from an underwriting standpoint.  And remember, every life insurance company will underwrite each risk differently – the trick if you have any health impairments is to find the one that will look most favorably at YOUR unique risk.

Lincoln Financial’s permanent life insurance products and underwriting are very competitive as wekk and features a table shave program that can save you A LOT of money if you have any moderate health complications.  Life insurance has health classifications and with Lincoln’s “table shave” program, Lincoln will improve your health classification automatically if you fall within certain parameters and this can cut your life insurance premiums in half if you’re a candidate for it.

Bottom Line

Lincoln Financial is a great company to have your policy with. In certain health situations, such as one needing life insurance with diabetes, they could be the best company for your needs, though we recommend looking into all of your options. We even work with companies that offer no medical exam life insurance if that is what best suits your specific needs.

We also offer reviews on these companies Zander Insurance, Primerica Life Insurance and United Home and other carriers; so be sure to read through them before coming to a final decision on the best life insurance company for your needs. Also remember we can take full advantage of other products like the FEGLI retirement plan!

At we are dedicated to helping you find the life insurance company is the right fit for you.  If Lincoln Financial Life Insurance has the policy that fits you best we would have no problem recommending them.

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About Jeff Root

is the owner of He's an independent life insurance agent who has helped 1,000's of consumers purchase life insurance online and over the phone.

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