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Lincoln Financial life insurance review 2020


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This insurer offers competitive rates for seniors, smokers and people with poor health histories.'s rating: 4 / 5


  • Get a quote if… You have a family health history working against you, or you’re in the market for a large policy.
  • Pick something else if… You’re a young applicant, or need whole life insurance.

18 to 60

Issue Age

$100,000 to $1,000,000


Depends on policy

Medical Exam Required


Free quote Through an advisor
Monthly cost $15/Month
Policies Term, Universal, Indexed Universal, Variable Universal
Coverage maximum $1,000,000
Term lengths 10, 15, 20, 30 years
Riders Accelerated death benefit rider, Accidental death benefit rider, Child rider, Conversion rider, Cost-of-living rider, Critical illness benefit rider, Decreasing term rider, Disability income benefit rider, Guaranteed insurability rider, Return-of-premium rider, Return-of-cash-value rider, Term insurance rider, Waiver-of-premium rider
Medical exam required Depends on policy
Available states Not available in New York
Issue age 18 - 80 years old


  • Established and financially sound
  • Comprehensive options
  • Multiple underwriting niches


  • No online application
  • No whole life
  • Higher rates for younger applicants

Expert review

Julia Cameron

Review by

Julia Cameron is a writer and editor who has experience in finance, mergers and acquisitions, content marketing and immigration law. She has a passion for interior design and an affinity for Old Florida, where she lives with her family.

Expert review

If you’re looking for comprehensive coverage, Lincoln Financial is a solid choice. It’s financially strong and caters to seniors and other high-risk applicants with its lenient underwriting guidelines. But it doesn’t offer whole life insurance, and you can’t apply for a policy online.

What types of life insurance coverage does Lincoln Financial offer?

Term life insurance

Lincoln Financial sells term life policies in 15, 20 or 30 year lengths, with death benefits ranging from $100,000 to $1 million. All of the plans come with a convertibility fearture, which means they can be upgraded to permanent policies within a certain timeframe.

Universal life insurance

Universal life insurance is a flexible, permanent type of policy that can help you build tax-deferred value for future use. Lincoln Financial’s policies allow you to take out tax-free life insurance loans using your cash value as collateral, though withdrawals affect the amount of your death benefit.

Variable universal life insurance

Like universal life insurance, variable universal life insurance (VUL) combines the protection of term insurance while growing tax-deferred earnings through variable investment options. Policy loans are also available using your cash value as collateral, but keep in mind that loans affect the amount of your death benefit.

What riders can I add to my life insurance policy?

Lincoln Financial offers a long list of riders. Depending on your policy, you may be able to add the following riders to your coverage:

  • Accelerated death benefit rider. Options pay out a portion of your death benefit if you fall terminally ill, require permanent nursing home care or need help during a critical illness or condition.
  • Accidental death benefit rider. Offsets sudden costs that result from an accidental death through an additional payment.
  • Child rider. Allows you to insure a child under your own policy.
  • Conversion rider. Allows you to convert your term policy into a permanent policy without taking a medical exam within a specified time frame.
  • Cost-of-living rider. Provides 3% or 5% compound inflation growth to meet rising long-term health care.
  • Critical illness benefit rider. Receive a lump sum benefit if you suffer a critical illness, like a stroke.
  • Decreasing term rider. Allows you to decrease your death benefit at specified times to ensure you aren’t over-insured as you pay off loans.
  • Disability income benefit rider.
  • Guaranteed insurability rider. Increase your death benefit coverage in the future without the need for underwriting.
  • Return-of-premium rider. Provides a no-lapse guarantee and either a basic or vested return of your premiums, depending on your policy.
  • Return-of-cash-value rider. If you die within a specified time frame, your beneficiaries will receive a benefit equal to the amount of premiums you paid in.
  • Term insurance rider. Add a cost-effective death benefit until you reach age 100.
  • Waiver-of-premium rider. Waives your premiums if you suffer a disability, critical illness or injury.

How much does Lincoln Financial cost?

To get an idea of how much you might pay for coverage, check out these sample quotes for a 20-year term life policy for an individual in perfect health.

Age Male Female
20 $25.81 $21.88
25 $25.81 $21.88
30 $28.44 $23.45
35 $32.38 $25.81
40 $38.94 $30.63
45 $51.58 $40.64
50 $78.71 $58.58
55 $123.77 $92.71
60 $213.46 $149.23
65 $406.31 $270.03
70 $819.70 $584.81

*Based on sample rates from Quotacy

How do I get a low rate?

Like all insurers, Lincoln Financial accounts for your age, gender, health, smoking status, and lifestyle when setting your premium. It looks at these factors:

  • History of tobacco use. The best rates rates go to applicants who haven’t smoked in the past three years.
  • Drug and alcohol history. If you haven’t used or abused drugs and alcohol in the last 7 or 10 years, you could qualify for the preferred rates.
  • Health and family medical history. Low premiums go to those without a personal or family history of cardiovascular disease, diabetes or cancer. If you’re 69 or younger, your blood pressure must be lower than 130/80 to access the best rates. For older applicants, your blood pressure should meet a 12-month 140/90 average.
  • Driving record. Your history should be free of DWIs, DUIs, suspensions and other convictions in the past five years and no more than three moving violations in the past three years.
  • Occupation and hobbies. Pilots and other people with dangerous jobs and hobbies may be excluded from the preferred rate classes.

Compare life insurance rates

Compare quotes for life insurance policies starting at $15/month.

Pros and cons of Lincoln Financial


  • Ideal for high-risk applicants. The insurer offers lenient underwriting to smokers and people with preexisting health conditions and complex health histories.
  • Lower rates for seniors. Seniors over 60 might be able to access cheaper rates with Lincoln Financial.
  • No medical exam option. The insurer issues up to $1 million in term life insurance coverage without a medical exam.
  • Generous death benefits. Lincoln Financial caters to high net worth individuals by selling permanent policies worth up to $10 million.
  • Financial strength. Lincoln Financial has an A+ (Superior) rating with AM Best, which points to its ability to pay out claims.


  • No online application. To sign up for a policy, you’ll need to speak to an agent.
  • No whole life option. The insurer doesn’t include whole life insurance in its permanent policy lineup.
  • Higher rates for younger applicants. While Lincoln Financial has low rates for high-risk applicants, young, healthy people might be able to find cheaper premiums elsewhere.

Compare life insurance companies

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
18 - 75 years old
10, 15, 20, 30 years
Customize your term life insurance with a long list of life and disability riders. Get a free quote on Policygenius.
18 - 75 years old
10, 15, 20, 25, 30 years
Depends on policy
Purchase a policy worth anywhere from $25,000 to $10 million, with the option to skip the medical exam. Get a free quote on Policygenius.
18 - 80 years old
10, 15, 20, 25, 30 years
Depends on policy
Purchase term life insurance up to age 80 with Finder's #1 ranked company. Get a free quote from this A+ rated insurer on Policygenius.
20 - 85 years old
10, 15, 20, 25, 30, 35 years
Buy term life insurance all the way up to age 85, and choose a policy that lasts up to an incredible 35 years. Get a free quote on Policygenius.
John Hancock
18 - 65 years old
10, 15, 20 years
Depends on policy
Score a low rate on term life insurance with discounts and rewards for your healthy habits. Get a free quote on Policygenius.

Compare up to 4 providers

Lincoln Financial review and complaints

Lincoln Financial isn’t accredited with the Better Business Bureau (BBB), but it holds an A rating for its customer interaction. The BBB hasn’t recorded any customer reviews or complaints to date.

In JD Power’s latest life insurance study on customer satisfaction, Lincoln Financial ranked 11th of 22 insurers surveyed. It earned 3 out of 5 stars, which means it’s doing well but could improve on its customer service and engagement.

How does Lincoln Financial protect my data?

Lincoln Financial collects your personal information in order to respond to requests, service your account and offer tailored products and services. Your info is not sold to or shared with non-affiliated third parties who may want to sell you their products.

To safeguard your data, Lincoln Financial takes precautions including password protection, encryption, SSL, firewalls and internal restrictions on who can access your information.

How do I sign up?

You can’t sign up for a policy online; you must go through a financial advisor. To find one near you, use the search tool on Lincoln Financial’s website.

How to file a life insurance claim with Lincoln Financial

Fortunately, filing claims with Lincoln Financial is a straightforward process. To file a claim online:

  1. Visit Lincoln Financial’s claims site and click Get started.
  2. Complete the claims application and click Submit.

Lincoln Financial will email your claim package within five business days with instructions on completing your claim.

More about Lincoln Financial

Lincoln Financial’s name and image are inspired by Abraham Lincoln’s values of honesty and reliability. In addition to life insurance, Lincoln Financial offers a wide range of plans and services:

  • Annuities
  • Individual retirement accounts (IRAs)
  • Retirement plans
  • Mutual funds
  • Benefit plans — vision, dental, life insurance and more
  • Employer health and dental insurance plans

Life insurance ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.

Learn more about our methodology here.

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