Lincoln Financial Life Insurance: All you need to know before you buy

Lincoln Financial Life Insurance

Lincoln Financial offers options that are consumer-friendly in nature. These offers may include term life insurance that can be procured over the phone and a universal life policy whose care benefits are long-term.

Dated back in 1905, the company got permission to use its name from President Abraham Lincoln’s son, Robert Todd Lincoln. Since then, President Lincoln’s profile still serves as the company’s logo.

Lincoln Financial Life Insurance

  • Provide a rapid application process by phone on term life policies.
  • NerdWallet rated its superb service delivery 4 stars out of 5.
  • Less complaints received by state regulators received than expected looking at its size.

The basic offers of Lincoln Financial Group are life insurance, annuities, workplace benefits, and retirement plan services. 

Read also: Banner Life Insurance: What you Need to Know

Lincoln Financial life insurance

Considering the Lincoln Financial rating that earned them 4 stars out of 5 for their exceptional performance. This rating is conducted by NerdWallet using a determined editorial team.

The parameters used in rating take into cognizance complaint data from the National Association of Insurance Commissioners and financial strength ratings.

It is in furtherance to these ratings that, Lincoln Financial is rated the Best Life Insurance Companies for 2021 according to NerdWallet.

Lincoln Financial life insurance pros and cons


–           Less complaints received by state regulators considering its size.

–           Provide a rapid application process by phone on term life policies.


–           J.D. Power study on customer satisfaction for life insurance in 2020 ranked the company below average.

Lincoln Financial Life Insurance Policies

You can purchase your term life insurance policies offered by Lincoln Financial by completing a phone interview. Many applicants may qualify for coverage without a lab test with available terms of 10,15,20 or 30 years.

There are several universal policies that the company offers which include variable universal and indexed universal life insurance policies which have to do with survivorship variable products.

With survivorship life insurance, two people can be insured-husband and wife with just a policy. Though this policy can only be paid out only when the second person dies. 

Lincoln Financial Life InsuranceGroup review at Great finance ideas

Another notable benefit of Lincoln Financial MoneyGuard universal life policies is long-term care.

This will reduce the death benefits in case the policy is used for payment of long-term but in a situation where there are no long-term care benefits paid and the policy pays out the full death benefit when the insured person dies.

The policyholder is at liberty to abandon the policy for a partial or full return of premiums paid if no long-term care benefits have been used. Though this differs by state.

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Lincoln Financial Customer Complaints and Satisfaction

Complaints received by state legislators are fair considering the size of the company going by the available data with NerdWallet from the National Association of Insurance Commissioners.

Life Insurance Study for overall customer satisfaction revealed that Lincoln financial was ranked 13th out of 23 companies by J.D. Power.

More about Lincoln Financial Life Insurance

Lincoln Financial sells arrays of products including annuities, financial planning services, and employee benefits. With Lincoln, you have an option of a live chat and you can as well download and manage changes to policies.

Life Insurance Buying Guide

Before buying life insurance whether it is a term or whole life, take into cognizance life insurance riders and how long will the coverage last also not forgetting to compare with other companies.

While comparing the rates, be sure the quotes rates and amount of coverage are the same not forgotten the importance of policy medical requirements.

It is optional to avoid the life insurance medical exams but ensure certain health questions are answered while the application process must align for each policy.

Price shouldn’t be the determinant factor in deciding the life insurance to buy. Always take a close look at the complaints received by the various companies.

This will help you in making a wise decision and the right choice of companies with fewer complaints.  

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