Great News! Effective Monday, June 30, 2014, Lincoln MoneyGuard® II is available for sale in Connecticut.
Here’s what you need to know about the new Lincoln MoneyGuard®II:
• Continues to have an Income Tax Free Death Benefit
• Return of premium options for increased LTC benefits
• Couples Discount – up to 15%-20% more in benefits than Lincoln MoneyGuard® Reserve Plus
• Males qualify for up to 10%-15% more in benefits than Lincoln MoneyGuard® Reserve Plus
• Extended flexible premium option from 1-10 years
• Increased International Benefits to provide reimbursement up to the monthly maximum
Transition Rules –
Per normal process guidelines, to qualify for MoneyGuard® Reserve Plus in Connecticut, the ticket and one
signed POS form must be received by Lincoln’s home office by Wednesday, July 30, 2014.
For pending MoneyGuard® Reserve Plus business where the client would like to switch to the new Lincoln
MoneyGuard® II product, Lincoln will need a new ticket, signed Lincoln MoneyGuard® II illustration, HIPPA
form and LTC Worksheet.
Please note: Aside from our normal MoneyGuard® processing guidelines, there are no back end dates in which
we need to place a case by.
As a reminder, the standard MoneyGuard® rules are:
o If there is no activity on paperwork submitted after 60-days Lincoln New Business will ask for newly
dated and signed paperwork. Only the product available as of the new date would apply.
o PHIs are only valid for only 90-days. If a PHI expires and new paperwork is needed, the product
available as of the new date would apply.
o If Lincoln determines that there are inappropriate licensing / issues that result in new signed
paperwork, the product available as of the new date would apply.
o Rewrites from MoneyGuard® Reserve Plus into Lincoln MoneyGuard®II will not be allowed unless
within the free look period. If the policy is within the free look period and the client would like to
make the switch, they would need to submit the request (in writing) for the switch.
States still pending approval of Lincoln MoneyGuard® II include: California, Florida, Hawaii, New Jersey and
New York.
For additional information on Lincoln MoneyGuard® II, Click here to access the original Lincoln MoneyGuard®
II launch announcement (Volume 12, Issue 2, dated February 10, 2014) or view your Lincoln Producer website.
