As a leader in the market, Lincoln has a long-standing commitment of helping protect client wealth from the risk of long-term care expenses.
Effective immediately – for a limited time only – Lincoln is pleased to announce expanded underwriting consideration for Lincoln MoneyGuard® II applications submitted and received at Lincoln by November 1, 2019 and placed with premium by December 31, 2019.
This new opportunity will offer underwriting up to Table 8 for mortality risk, providing coverage for individuals who may not have previously qualified for Lincoln MoneyGuard II.
Lincoln MoneyGuard II
Underwriting Expansion up to Table 8
Available for applications submitted effectively immediately through November 1, 2019
Frequently Asked QuestionsPlease note Lincoln reserved the right to alter or suspend this offering for new submissions at any time.
What is the Lincoln MoneyGuard® II underwriting expansion program?
For a limited time only, Lincoln is expanding underwriting consideration up to Table 8 for mortality risk, for Lincoln MoneyGuard II applications submitted and received by Lincoln on or before November 1, 2019 and placed with premium by December 31, 2019. This opportunity will offer coverage to individuals who may not have previously qualified for Lincoln MoneyGuard II.
What products are eligible in the program?
Lincoln MoneyGuard II only. Cases in New York are not eligible.
What types of cases will have the potential of underwriting approval up to Table 8 for mortality risk?
Cases with the greatest potential of securing approval within the expanded underwriting program would include:
- Highly rated impairments, such as coronary artery disease and diabetes
- Cases with more than one rated medical impairment, such as diabetes plus asthma or coronary disease plus diabetes with combined risks of Table 8 or better
NOTE: Lincoln’s process of underwriting morbidity risk will not be impacted by this program.
Are there age or coverage amount restrictions for the program?
All submissions will be subject to standard product guidelines.
My case was declined after April 1, 2019, how do I request a reconsideration of the case?
No action is required by you for a case reconsideration. Lincoln Underwriting and New Business will automatically review all cases that were declined on or after April 1, 2019 to determine if the case may be eligible for reconsideration under the new mortality guidelines up to Table 8. If your case is eligible under this program, you will be contacted and advised of next steps. Note: Subject to Firm Requirements.
My case was declined prior to April 1, 2019, can I request a reconsideration of the case?
Yes. If the case was declined prior to April 1, 2019, you must first reach out to your wholesaler, who will work with underwriting, to determine if the case may be eligible for reconsideration up to Table 8 under the mortality guidelines. If determination is made that your client may now be eligible for Lincoln MoneyGuard II, they must reapply with new application paperwork and a new PHI will be required.
Please note that any final underwriting decision will be based on detailed history provided in the new PHI and any recommendation to reapply does not guarantee that the case will be approved.
Are 1035 exchanges eligible for the underwriting expansion?
Yes, and the 1035 exchange must be initiated within 90 days of the PHI. All funds must be received, and the policy placed in-force by December 31, 2019.
What will happen if my case is pending but not placed by December 31, 2019?
Lincoln MoneyGuard II is not PBR /2017 CSO compliant and any pending policies must be approved and placed in-force with premium no later than Tuesday, December 31, 2019, to comply with the CSO and PBR life insurance regulation updates. If the policy is not placed in-force with premium by the deadline, your client must select a product that meets the updated regulatory standards.
The Underwriting and New Business team will proactively contact producers to remind them that any pending business must be placed in-force with premiums by December 31, 2019.
Please contact your Lincoln MoneyGuard Underwriting team with any additional questions.