Lincoln Financial Group Review – Products, Pricing, & Ratings

lincoln review

Last Updated: 01/03/2018

AM Best Grade: A+ (Superior) 5 stars

Address: 150 N Radnor Chester Road, Radnor, PA 19087

Phone: 877-275-5462


Also Known As: Lincoln National Corporation, Lincoln National Life Insurance Company, First Penn-Pacific Life Insurance Company.

Lincoln Financial Group is a Fortune 500 company that runs several insurance and investment management businesses within its subsidiary companies. The company has four business segments: annuities, life insurance, retirement plan services, and group protection. Originally founded in 1905, Lincoln Financial Group was named after Abraham Lincoln. The company prides itself on dependability, honesty, and quality service, and offers their products in every state except New York.

Quick Review Guide:

1. Company History
2. Insurance Products
3. Product Pricing
4. Underwriting Niches
5. Customer Service & Approval Process
6.  Financial Stability & Ratings
7. Why We Like Lincoln


Company History

Lincoln National Life Insurance Company was founded by a group of business leaders in Fort Wayne, Indiana. Perry Randall, an attorney and entrepreneur, suggested that they name the company “Lincoln” after the 16th president Abraham Lincoln; he believed that it would express an essence of integrity.

The company’s headquarters were located in Fort Wayne for 94 years, until they acquired a new president in 1999. The company then moved to Philadelphia, before finally settling in Radnor, Pennsylvania in 2007.

In business for over 110 years, Lincoln Financial Group has been presented with numerous awards, including Best Life Insurance Company in 2015 by World Finance Magazine. They have millions of customers, and many positive reviews from third-party assessors.


Insurance Products

Lincoln Financial Group offers quite a few different services and products, which include:
Term Life Insurance
Indexed Universal Life
Variable Universal Life
Fixed Annuities
Variable Annuities

The company offers two different term programs: Lincoln TermAccel and Lincoln LifeElements. TermAccel has the option to forego a medical exam if you qualify, and both offer 15, 20, and 30-year level term policies (LifeElements also offers a 10-year level term option). A nice perk about the programs is if you decide that you would like to extend your policy past the original term duration, Lincoln allows you to convert to permanent coverage without re-qualifying or taking a medical exam.

Often, life insurance programs include riders – products that can be added to your policy. Lincoln’s universal policy – Moneyguard – has an optional long-term care rider. Policyholders can either receive tax-free income reimbursements for long-term care expenses or receive a tax-free income death benefit, in which your beneficiaries will receive an inheritance.

Other notable riders from Lincoln Financial Group include:

Waiver of Premium: With an additional cost, If you become completely disabled, Lincoln can waive premium payments during the disabled period after a 4-month waiting period.

Children’s Term Rider: With an additional cost, Lincoln can also provide level term coverage up to $15,000 for each child (15 days – 18 years old) of the policyholder. There is no additional cost per child.

Accelerated Benefit Rider: If you were to develop a terminal illness expected to result in death within 6 months, Lincoln will pay a portion of the death benefit, and you can access up to 50% of the policy death benefit (up to $250,000). If used, there is a one-time charge for the rider; the accelerated benefits may be taxable and potentially affect public assistance eligibility.


Product Pricing

The great thing about having multiple life insurance companies to choose from, is that each company has underwriting niches unique to them. We’ll discuss those niches further in the next section, but in terms of affordable options overall, we recommend Lincoln for previous nicotine users, those who previously had high blood pressure, and to those 70-years-old and older.

Sometimes people don’t fit into a certain health category, and that’s okay! If you have a few medical conditions, a dangerous hobby, or a hazardous occupation, give one of our licensed agents a call, and they will work with you to determine if Lincoln Financial Group is the best company for your unique “risk” profile.


Underwriting Niches

The Lincoln National Life Insurance Company provides applicants with some underwriting niches that may be much more affordable than their competitors’ rates. Some of the niches that Lincoln Financial Group are lenient with include:

Nicotine Use

If you have not smoked a cigarette or e-cigarette in the past 3 years, you can qualify for “preferred plus” rates (with an allowance of up to 12 cigars a year). You can qualify for “preferred” rates if you have not used nicotine in the past 2 years (with an allowance of up to 24 cigars a year).* If you do smoke cigarettes, Lincoln may still offer you a “preferred tobacco” rate if you are in overall good health.

*Note: there must be no presence of nicotine in the urine to qualify for preferred non-tobacco rates.

Blood Pressure

For “preferred plus” rates, applicants under the age of 69 need average blood pressure levels of 130/80 or lower; age 70 and up with levels of 140/90 or lower. To qualify for “preferred” rates, applicants up to 69-years-old need average blood pressure levels of 140/90 or lower, and those 70 and up need averages of 155/90 or lower. All need to be sustained for the past 12 months or longer (with or without medication).

Common Blood Pressure Medications Include:

• Amlodipine
• Atenolol
• Avapro
• Benicar
• Bystolic
• Carvedilol
• Clonidine
• Cozaar
• Diovan
• Enalapril
• Exforge
• Furosemide
• Hydrochlorothiazide
• Hyzaar
• Lasix
• Lisinopril
• Losartan
• Lotrel
• Metoprolol
• Micardis
• Norvasc
• Propranolol
• Spironolactone
• Tekturna
• Toprol
• Verapamil


Clients who are ages 70 and up can qualify for “preferred” rates from Lincoln if:

• They have Type II diabetes
• They have been diagnosed within the last 3 years
• Their A1C blood levels are a 6.0 or lower
• Are in overall good health with no other significant medical history


To qualify for “preferred plus”, Lincoln requires clients under 69 (treated or untreated) to have a cholesterol/HDL ratio of 5.0 or less, and age 70 or older to have a ratio of 5.5 or less. For “preferred” rates, Lincoln requires clients under 69 to have a ratio of 6.0 or less, and those over 70 to have a ratio of 7.0 or less. For both, the minimum untreated cholesterol level is 125 mg/dL, and the maximum is 300 mg/dL.

Common Cholesterol Medications Include:

• Atorvastatin
• Crestor
• Fluvastatin
• Lescol
• Lipitor
• Livalo
• Lovastatin
• Pitavastatin
• Pravachol
• Pravastatin
• Rosuvastatin
• Simvastatin
• Zocor


Lincoln offers quite a bit of freedom in terms of an applicant’s BMI in relation to other companies. “Preferred plus” is an option to those with a BMI between 18-29 until age 69; ages 70 and older can have a BMI between 19-30 to qualify. To qualify for “preferred”, applicants under 69 need a BMI between 18-31, and 70 and up between 19-32.

Leniency to those over 70

In terms of blood pressure, weight to height ratio, and blood pressure, clients who are over the age of 70 are granted more leniency on underwriting requirements, which is not always the case with life insurance companies. Older clients who have been diagnosed with breast or prostate cancer are also granted more freedom when underwriting.


Customer Service & Approval Process

Customer serviceLincoln Financial Group received an above average rating on their customer service with 5 out of 5 stars, and an “A+” by A.M. Best. Here’s a customer review that we found:

“I was placed on sick leave and turned out to be a long term disability. My contact person at Lincoln Financial group is Frank ******. He has been so helpful I cannot thank him enough. I have been in contact with him for a while and even though I know my long term disability is going to end at some point I am never going to forget that he was there when I needed him the most.”

Lincoln also provides a speedy application process, especially so for those who are eligible to skip the medical exam. If the applicant skips the medical exam, the average application process duration takes about a week. With the exam, the company has an average duration of 20 days for application approval.


Financial Stability & Ratings

When applying for life insurance, you want to make sure that you’re applying for a highly-rated, secure company. With so many life insurance companies to choose from, the industry is heavily regulated in the United States. This means that each company is routinely audited to ensure that it is financially stable, as well as overseen by an appointed commissioner in each state. This is good news for you, because you know exactly which companies are stable and which ones are not.

Like previously stated, Lincoln Financial Group has been in business for over 110 years. They persevered through the Great Depression and successfully made their way to the top. As of December 2017, Lincoln Financial manages $241 billion in asset, and was listed as #207 on the 2017 Fortune 500 list. In short, it’s safe to say that you are in good hands with Lincoln.


Lincoln Financial Group’s Financial Stability Ratings:

• A.M. Best A+ (Superior)
• Fitch: A+ (Strong)
• Standard & Poor’s: AA- (Very Strong)
• Moody’s: A1 (Good)


Why We Like Lincoln

At Term Life Advice, we represent over 60 companies. With each company, we make certain that all of them are reputable and high-quality companies; we want to give you the best options possible, and represent only the companies that produce successful results. For example, in 2014, Lincoln Financial Group  was #1 in total life insurance sales in the United States. Here are some other qualities about Lincoln that make them shine:

Competitive pricing
Multiple underwriting leniencies
Over a 110-year history of excellence
Financial stability
Term and universal life insurance options
Additional policy benefits/riders
Great customer service

Term Life Advice is an owner-operated life insurance agency that works directly with highly-rated life insurance companies including Lincoln Financial Group. Lincoln may absolutely be the best choice for some applicants, but it is always best to shop the market and compare rates to ensure that you are paired with the right company for your specific needs.

If you’d like to get an accurate quote based on your age and health, or to determine if Lincoln Financial Group is your best choice for coverage, give us a call today toll-free at: 855-902-6494. Our services are free, and our agency can quickly compare your options and rates by asking you a few questions about your health and lifestyle.

You can also request a free instant quote online below to instantly compare rates from more than 60 highly-rated life insurance companies in less than a minute.