Lincoln Financial Group Launches Universal Life Insurance Product For Employer Benefit Packages

RADNOR, Pa., April 9, 2012 /PRNewswire/ -- Lincoln Financial Group (NYSE:LNC) today introduced Lincoln Employee Value(SM) Universal Life (UL), issued by The Lincoln National Life Insurance Company, Fort Wayne, IN. Lincoln Employee Value(SM) UL enables employers to enrich their benefit packages with an employee-paid life insurance option offering the protection of guaranteed lifetime coverage with one of the industry's highest death benefits per premium dollar paid.

With Lincoln Employee Value(SM) UL, employees can select up to $300,000 in benefit amounts. The policies are individually issued, and as long as sufficient premium is paid, the coverage is guaranteed for life even if the employee retires or changes jobs.  The premium amount that guarantees the policy for life can never be raised. 

"Group Protection is one of Lincoln's key growth engines, and we continue to build a deep, integrated and affordable portfolio of employee-paid benefit products that help employers attract and retain talent, while balancing the rising costs of benefits," said Rob Grubka, President, Group Protection, Lincoln Financial Group. "With our latest addition to the portfolio, Lincoln Employee Value(SM) UL, Lincoln has leveraged its market leading position in the individual UL space to bring a permanent life insurance option to the Group market that will not lapse as long as premiums are paid, or increase in cost. Whether selected as a standalone option or as a compliment to existing term coverage, we believe the product offers employees tremendous opportunity to help secure their future."

The Lincoln Employee Value(SM) UL is offered with the following riders to help employees customize their coverage to meet their future plans:

• Lincoln Automatic Assurance Rider – allows death benefit to increase annually for the first five years of policy ownership
• Accidental Death Benefit Rider – pays a specified benefit amount in the event of an insured's accidental death
• Accelerated Benefits Rider – pays up to 75 percent of the death benefit if an insured becomes terminally ill with a life expectancy of 12 months or less
• Children's Term Rider – provides level term coverage for each child of the insured, from age zero to 26
• Disability Waiver of Monthly Deductions Benefit Rider – waives monthly deductions after a six month waiting period if the insured becomes disabled under the terms of the rider

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