Our take on Lincoln Life
Lowest, no medical, accelerated issue Term Insurance
Lincoln National Corp has one of the lowest, no medical exam, accelerated issue, term products in the market right now. This is a term policy for under $1 million. They also offer great universal life and annuity products, and a full-service financial service.
Lincoln offers quick application by phone or even through the internet for its life insurance policies and they sell a wide range of products which we will discuss further down below.
Finally, to gauge the trustworthiness of this company you need not look further than some of the ratings it has managed to stack up. This a company that serves millions and who over the century had somehow managed to make their policyholders feel confident. They’ve met their obligations and have grade reviews of A+ from A.M. Best; A1 from Moody’s; AA- from Standard & Poor’s.
What we like
Great For Seniors
Lincoln Financial Group is one of the most elastic term life insurance providers for people in all age groups; that includes senior citizens.
Renew term or convert to permanent without medical exam
Another plus is that for people in their 50s or 60s their prices are below the industry standard. Not only that but they offer, for some, the possibility of waiving medical exams or lab tests. Moreover, you won’t be asked to take a med-exam if you want to renew your term or want to convert to a permanent policy.
Great for CBD users
Finally, if you’re a habitual marijuana of CBD, Lincoln will underwrite you. They offer better rates than their competition if you experience low-level health conditions or habits.
What we don’t like
As the saying goes, “you have to take the good with the bad” and in Lincoln Insurance there are some things to consider. There really is no magic bullet insurance out there. No perfect, unicorn to recommend.
Each insurance has pros and cons’ and what works for your neighbor might not work for you. Why? Because the insurance business is one based on the decision of actuaries and AI protocols; they analyze fields and patterns we could only dream of.
So one quote might be completely different from another based on one small factor that differences you from the rest. Here in TrueBlue, we can only guide you by giving you our honest reviews on what we consider are the most trustworthy firms out there.
Permanent Policies are Expensive
Lincoln has one BIG BAD, and that is that permanent policies are expensive. Although Term life policies are extremely competitive, particularly its TermAccel, all other policies are rather pricey, especially for younger applicants. This is something that breaks the mold and it has more to do with the brand’s decision to push term policies above permanent policies.
In many cases, some permanent life policies, particularly for older gentlemen and gals, become cost-prohibitive.
No Whole Life Option
Another Big Bad, in Lincoln’s closet – and one that emphasizes its stance on permanent policies is that it has no whole life option. You will find a smorgasbord of universal life policies but not ONE single whole life product.