Lincoln: Product Update - Lincoln WealthAccumulate 2 IUL
08-12-2024
Lincoln’s broad life insurance portfolio offers clients financial protection and growth opportunities to meet multiple needs. Lincoln is excited to announce updates to their performance-driven accumulation IUL portfolio to remain poised to meet the needs of the future with added optionality and upside potential.
Effective August 12, 2024, Lincoln WealthAccumulate® 2 IUL (2020) – 08/12/24 replaces the existing Lincoln WealthAccumulate® 2 IUL (2020) – 02/12/24 with the following updates.
- Increased caps and participation rates
- Increased current cap and par rates on indexed accounts
- Increased guaranteed minimum cap on all capped indexed accounts to 2%
- Increased guaranteed minimum for Fixed Account, DCA, and Holding Account to 1%
- Return of 100% ROP*
- The Lincoln Enhanced Value® Rider (LEVR) will have two Return of Premium options: 100%* and 85%
- *For non-Premium Finance cases. Additional rider charge above 85% option applies
- Account Value Enhancement (AVE) on Loan Accounts
- Added an additional 25 basis point AVE to our indexed loan accounts
Availability and Transition Guidelines
For states available at rollout the transition period will begin August 12, 2024, and ends on September 11, 2024.
- All formal applications for the Lincoln WealthAccumulate® 2 IUL (2020) – 02/12/24, including LincXpress® Tickets, must be signed, dated, and received in good order in Lincoln’s home office by the end of the transition period to qualify.
- For cases with the owner listed as “Trust to be Established”, formal applications received in the Home Office by the end of the transition period and have been signed by the insured will still qualify as awaiting a trust to be set up is part of the normal course of business. The only paperwork that Lincoln will not require at submission is the executed Certification of Trustee Powers with the trustee/owner’s signature. It must be received prior to issue.
- For pending business or policies already issued, Lincoln will accept a written request and a revised illustration to change to Lincoln WealthAccumulate® 2 IUL (2020) – 08/12/24.
- For policies already placed, normal internal replacement guidelines apply. Rewrites will not be allowed.
- For states approved after rollout, the transition period will be communicated with the availability date
Please refer to the announcement below for more details.
Give us a call at 800.792.6795 to see if this improved product may be a good for for your next case!