Lincoln: Pricing Improvements for Lincoln MoneyGuard II (2020)
01-22-2024
Effective January 22, 2024, Lincoln is implementing pricing decreases to Lincoln MoneyGuard II (2020), which improve competitive positioning. There are no pricing increases as a result of this update. Lincoln MoneyGuard II, a universal life insurance policy with optional long-term care benefit riders, can help safeguard clients’ assets and provide reimbursements for qualified long-term expenses.
Following a transition period, Lincoln MoneyGuard II (2020) – 01/22/24 will replace currently sold Lincoln MoneyGuard II (2020)® - 09/11/22.
- Pricing Improvements will result in an average discount of 12%
- The improvements apply to all issue ages and product designs
- Range of pricing improvements is from 11-12%
- No pricing increases as part of product update
Availability and Transition Guidelines
Pending firm approval, applications for Lincoln MoneyGuard II (2020) – 01/22/24 will be accepted beginning on January 22, 2024 in California.
- For applications to qualify for the current MoneyGuard II (2020) – 09/12/22 pricing, a projection of values and the completed Part 1 must be signed, dated, and received in-good-order by Lincoln’s home office by Friday, February 23, 2024.
- For pending or issued business on or after January 22, 2024 Lincoln will accept requests with a revised projection of values to change to the MoneyGuard II (2020) – 01/22/24 pricing.
- For placed business, normal internal replacement guidelines apply. Rewrites will not be accepted.
- As of January 22,2024, Lincoln DesignItSM and WinFlex will be updated with the new product version. During the transition period both versions can be run.
- Ensure that you are appropriately credentialed. Clients of financial professionals who are not properly credentialed to solicit business when the paperwork is submitted will be subject to the product version in effect on the date when the financial professional becomes properly credentialed and resubmits the paperwork.
- Remember that once an application is submitted, the Personal History Interview (PHI) must be completed within 60 days of submission. In addition, the case must be placed within 90 days of the PHI. If these conditions are not met, the case will be closed out. If a case is reopened, a new Part 1 must be submitted, and the case will be subject to the product version available at that time
Please give our sales team a call at 800.792.6795 if you have any questions or would like to see illustrations!