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Lincoln Financial life insurance review 2019

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Built on the foundations of honesty and dependability, this established insurer has served Americans since 1905.

Get a quote if…

  • You’re looking for a company with strong supplemental benefits.

Pick something else if…

  • You want a whole life insurance policy.

18 to 60

Issue Age

$100,000 to $1,000,000

Coverage Amount

Depends on policy

Medical Exam Required


Free QuoteThrough an advisor
Insurance ProductsTerm, Universal, Indexed Universal, Variable Universal
Issue Age18 to 60
Coverage Amount$100,000 to $1,000,000
Term Lengths10, 15, 20 or 30 years
Medical Exam RequiredDepends on policy
Ways To File A ClaimPhone, Online.
Ratings, Accreditation and MembershipsA.M. Best: A+, Standard and Poor's: AA-, Moody's: A1
State AvailabilityNot available in New York
Customer Service OptionsPhone, Online
Policy Riders OfferedYes

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’s term life policies offer a guaranteed tax-free death benefit, making them an ideal choice for those looking for coverage over a stated time. These policies can offer peace of mind that your family has the means to cover college expenses, mortgage costs or other substantial costs. Terms are available for 15, 20 or 30 years, and death benefits cover a face amount of $100,000 to $500,000, which does not grow over time. The plans are also convertible to a permanent policy, if you qualify.

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?

Standard policies don’t always cover life’s full range of bumps. But with most life insurance policies at Lincoln Financial, you can add riders for conditional coverage for a fee.

Eligibility depends on your state of residence and the policy you choose, but available riders include:

  • Accelerated benefits riders. 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.
  • Assured distribution endorsement rider. Guarantees a stream of specified policy distributions that depend on your account value.
  • Children’s term rider. Allows you to insure a child under your own policy.
  • Disability waiver riders. Options cover your monthly deductions, premiums and other charges if you become fully disabled.
  • Guaranteed insurability rider. Increase your death benefit coverage in the future without the need for underwriting.
  • Overloan protection endorsement. Protects highly funded, heavily loaned policies from lapses, and guarantees that your net death benefit is at least $10,000.
  • Supplemental coverage rider. Add a cost-effective death benefit until you reach age 100. (Rider not available in New York.)
  • Value protection rider. Provides a no-lapse guarantee and either a basic or vested return of your premiums, depending on your policy.
  • Inflation protection rider. Provides 3% or 5% compound inflation growth to meet rising long-term health care.

How much does Lincoln Financial cost?

To get an idea of how much you might pay for your policy, check out some sample quotes below for a policy with a term of 20 years for an individual in perfect health.


How do I get a low rate?

Like other providers, Lincoln Financial accounts for your age, gender, height and weight, state of resident, smoking history and other health data when determining your policy’s rates.

To qualify for the better rates — called “preferred” and “preferred plus” — you’re subject to blood and other tests. You’ll also need to meet specific guidelines regarding your:

  • History of tobacco use. Low rates go to applicants who haven’t smoked in the past three years, with the best rates reserved for those who are tobacco-free for two years.
  • Drug and alcohol history. Best-rate categories are for those with no history of abuse in the past 7 or 10 years.
  • Personal health. You should have no personal history of cardiovascular disease, diabetes or cancer.
  • Family health. Requirements vary by age but consider family deaths and disease.
  • 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.
  • Blood pressure. If you’re 69 or younger, your blood pressure must be lower than 130/80; for older applicants, your blood pressure should meet a 12-month 140/90 average.
  • Occupation or hobbies. Pilots and other high-risk careers may be excluded from the lower rates.

Pros and cons of Lincoln Financial


  • Established and financially sound. One of the oldest insurance providers in the country, Lincoln Financial earns strong financial stability ratings, meaning it’s able to meet financial obligations and pay any claim.
  • Comprehensive options. Lincoln Financial offers a wide range of comprehensive and flexible plans.
  • Multiple underwriting niches. If you have trouble finding coverage elsewhere, Lincoln Financial’s lenient health requirements and coverage for those ages 70 and older could help.


  • You can’t apply online. You must apply through an agent. And the site requires wading through information simply to find what you need.
  • No whole life option. If you just want a straightforward whole life insurance plan with a guaranteed payout, you won’t find it here. The only permanent offered are universal and variable universal.
  • Not the cheapest provider. Lincoln Financial’s great coverage and options come at a price, with plans more expensive than similar policies as competitors.

Compare life insurance companies

Name Product Issue Ages Coverage Range Medical Exam Required State Availability
18 - 85 years old
$10,000 to $10,000,000+
Depends on provider and policy
All 50 states
Compare affordable quotes from 12+ A-rated life insurance companies side-by-side.
21 - 54 years old
$50,000 to $1,000,000
Not available in Alaska or New York
Affordable 2-, 10- and 20-year term life insurance policies. Instant quotes and no medical exams.
20 to 60 years old
$100,000 to $8,000,000
Not available in New York
Term life insurance with no policy fees and the freedom to cancel anytime. Simple application process that can get you approved for coverage instantly.
18 - 64 years old
$100,000 to $3,000,000
All 50 states
Customized term life insurance policies up to $3 million, no medical exam for certain applicants.
25 - 60 years old
$100,000 to $5,000,000
Available in all states except for Montana
Offers term life insurance with accelerated underwriting. No-exam coverage up to $1,000,000 for those who qualify.

Compare up to 4 providers

Lincoln Financial review and complaints

Lincoln Financial isn’t accredited by the Better Business Bureau (BBB), but it does get an A+ rating. However, customer reviews on BBB’s site are overwhelmingly poor — 22 negative reviews compared to one that’s positive. Most complain about poor or rude customer service, issues getting paid for claims and undisclosed fees.

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.
In an effort 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. But you can use Lincoln Financial’s advisor location tool to find a Lincoln Financial advisor in your area.

  1. From the life insurance homepage for individuals, click on Find An Advisor.
  2. From there you can indicate what type of service you need help with (life insurance) and enter your ZIP code. Or you can enter your name and phone number to have a representative contact you.
  3. After entering your ZIP code and clicking Search, you’ll be presented with a list of Lincoln Financial advisors in your area.

More about Lincoln Financial

Lincoln Financial’s name and image are inspired by Abraham Lincoln’s values of honesty and reliability. An early endorsement from Lincoln’s son, Robert Todd Lincoln, only strengthened its reputation of stability and trustworthiness that helped the company withstand the Great Depression.

Lincoln Financial offers life insurance that’s similar to those of most other providers, but it could be a strong contender if you’re looking for superior service supported by financial stability.

In addition to life insurance, Lincoln Financial offersa 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

If you’re in the market for whole life insurance or a more budget-friendly policy, take the time to compare providers.

How to file a life insurance claim with Lincoln Financial

Fortunately, filing claims with Lincoln Financial is a straightforward process online or by phone. 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.

If you have any trouble or prefer speaking to a representative, call 800-487-1485 Monday through Friday from 8 a.m. to 6 p.m.

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