Term Life Insurance

Lincoln Financial

Our takeWhat's this?We've done our own independent evaluation of each life insurance company on the things that matter during the application process and after you’re a policyholder.

We’ve benchmarked each life insurance company against each other and rated them. However, please note that every life insurance company is fully endorsed by PolicyGenius. There’s no company on our site that we wouldn’t recommend or do business with ourselves. These ratings are informational. The most important factor in your decision is the cost of the policy and any additional features the insurer may offer that you need.

Lincoln national life dark

Lincoln doesn’t allow customers to change any of their information online, making them a tough sell for people who hate paper forms and customer service calls. For everyone else, Lincoln offers competitive underwriting on a range of health conditions and a wide selection of riders to personalize your coverage.


Basics & RatingsWhy this mattersTwo of the best ways to evaluate an insurance company are to look at its age and its fiscal health. Learn more about how we build our reviews.

Founded

1905

JD Power
J.D. Power and Associates is a global marketing information services firm that conducts surveys of customer satisfaction, product quality, and buyer behavior.

2 out of 5

Policyholders
This is how many active US life insurance customers this company insures

8,600,000

A.M. Best
A.M. Best is an independent rating agency that evaluates the financial strength of insurance companies. Ratings as of May 2016, on a scale from A++ to D

A+

BBB Rating
Better Business Bureau (BBB) is a non-profit that collects consumer feedback on businesses around the country.

A+


Is Lincoln Financial a good match for your health?

Each insurer approaches health conditions differently. One insurer might ignore a heart attack from a few years ago, whereas a different insurer might rate you as a higher risk for the same thing. Here are the details of how Lincoln Financial treats a variety of common health conditions from an underwriting perspective.

Survivor/Family HistoryExcellent
Recent Weight LossExcellent
Heart AttackGood
DiabetesExcellent
Sleep ApneaExcellent
Former Tobacco UseExcellent
High Blood PressureFair
High CholesterolGood
  • Excellent - Above average; company provides excellent coverage for clients with this condition.
  • Good - Spot on; company doesn’t look at this condition unfavorably in underwriting.
  • Fair - Could use some work; clients with this condition may be issued a lower health rating, and subsequently higher rates than other insurers.

How much insurance do you need?

I don't know how much I need

Unique features

  • Competitive underwriting for a range of health conditions
  • Selection of riders available to personalize your coverage
When applying
How's the application process?
Above average

Pros

  • Electronic application
  • Faster than average application approval (20 days)
  • Policy delivery by email

Cons

  • Application form longer than average
After you're a policyholder
How's the customer service?
Above average

What you can do online

    What you can't do online

    • Updating beneficiaries requires paper forms
    • Changing payment info requires paper forms
    • Policy cancellation requires paper forms
    • Changing address requires a phone call

    Sample quotes

    Quote for:

    $500,000, 20­-year term life insurance policy for healthy, nonsmoking individuals, in California, monthly premiums

    MaleFemale
    CompanyPlanage 30age 40age 50age 30age 40age 50
    AIGSelect-a-Term$21.11$30.62$79.93$18.08$28.46$59.60
    AIGROP Select-a-Term$91.21$150.77$281.97$75.80$124.95$261.56
    Banner LifeOPTerm$21.44$32.38$94.07$18.19$26.60$58.62
    John HancockTerm$26.95$34.65$81.70$24.20$34.00$78.99
    Lincoln FinancialLifeElements$28.44$38.94$78.75$23.63$30.63$58.63
    Lincoln FinancialTermAccel$21.00$29.75$78.75$17.94$25.81$57.31
    MetLifeGuaranteed Level Term$22.41$33.21$81.81$19.26$27.36$61.11
    Mutual of OmahaTerm Life Answers$21.66$33.47$85.53$23.41$28.66$64.09
    Pacific LifePacific PRIME Term$20.84$29.59$77.09$19.18$26.68$61.67
    PrincipalTerm$22.75$31.94$79.63$20.04$27.56$59.24
    ProtectiveCustom Choice UL$20.37$28.91$76.82$17.93$25.25$55.75
    PrudentialTerm Essential$34.20$43.65$88.65$27.90$38.70$76.95
    PrudentialReturn of Premium Term$101.00$143.62$291.99$88.12$130.04$253.37
    SBLILevel Premium Term$21.32$40.05$96.06$24.48$34.71$65.87
    TransamericaTrendsetter Super$22.36$37.85$79.12$18.06$30.96$62.78
    TransamericaTrendsetter LB$24.95$38.27$92.89$20.65$34.84$73.11

    Details

    Minimum amount available

    $250,000

    Terms available

    10, 15, 20, 30

    Discount for paying annually versus monthly

    6%

    Payment methods available

    Check; Auto bank draft (for monthly payments only); Credit and debit card (only for first payment)

    Is coverage available without a medical exam?

    No

    Is temporary coverage during underwriting available?

    Yes, up to $3,000,000


    Riders

    • Waiver of premium: if you become totally disabled, the premiums will be waived until age 65 or to the end of the policy term (after a waiting period of 4 months).
    • Children's term rider: you can get life insurance for all children (ages 15 days - 18 years old) in one rider. Available coverage of $1,000 to $15,000 (in increments of $1,000).
    • Accelerated benefit rider (included at no extra cost): if you've been diagnosed with a terminal illness with less than 6 months to live, you can access up to 50% of the policy death benefit (up to a maximum $250,000).

    Rules

    What is the rule for accelerating the death benefit?

    If you've been diagnosed with a terminal illness with less than 6 months to live, you can access up to 50% of the policy death benefit (up to a maximum $250,000).

    What is the rule for converting the policy?

    The policy is convertible until the earlier of the end of the term or to age 70

    Unique features

    • Fast-track eligible. Qualifying applicants who pass a phone health interview may skip the medical exam. Available only for applicants between ages 18-50, for policy amounts between $100,000-$500,000. Available at underwriting classes down to a Table D.
    • Competitive underwriting for a range of health conditions
    • Selection of riders available to personalize your coverage
    • Fast track process for qualifying applicants (including no medical records/APS orders on applications)
    When applying
    How's the application process?
    Above average

    Pros

    • Electronic application
    • Faster than average application approval (20 days)
    • Policy delivery by email

    Cons

    • Application form longer than average
    After you're a policyholder
    How's the customer service?
    Above average

    What you can do online

      What you can't do online

      • Updating beneficiaries requires paper forms
      • Changing payment info requires paper forms
      • Policy cancellation requires paper forms
      • Changing address requires a phone call

      Sample quotes

      Quote for:

      $500,000, 20­-year term life insurance policy for healthy, nonsmoking individuals, in California, monthly premiums

      MaleFemale
      CompanyPlanage 30age 40age 50age 30age 40age 50
      AIGSelect-a-Term$21.11$30.62$79.93$18.08$28.46$59.60
      AIGROP Select-a-Term$91.21$150.77$281.97$75.80$124.95$261.56
      Banner LifeOPTerm$21.44$32.38$94.07$18.19$26.60$58.62
      John HancockTerm$26.95$34.65$81.70$24.20$34.00$78.99
      Lincoln FinancialLifeElements$28.44$38.94$78.75$23.63$30.63$58.63
      Lincoln FinancialTermAccel$21.00$29.75$78.75$17.94$25.81$57.31
      MetLifeGuaranteed Level Term$22.41$33.21$81.81$19.26$27.36$61.11
      Mutual of OmahaTerm Life Answers$21.66$33.47$85.53$23.41$28.66$64.09
      Pacific LifePacific PRIME Term$20.84$29.59$77.09$19.18$26.68$61.67
      PrincipalTerm$22.75$31.94$79.63$20.04$27.56$59.24
      ProtectiveCustom Choice UL$20.37$28.91$76.82$17.93$25.25$55.75
      PrudentialTerm Essential$34.20$43.65$88.65$27.90$38.70$76.95
      PrudentialReturn of Premium Term$101.00$143.62$291.99$88.12$130.04$253.37
      SBLILevel Premium Term$21.32$40.05$96.06$24.48$34.71$65.87
      TransamericaTrendsetter Super$22.36$37.85$79.12$18.06$30.96$62.78
      TransamericaTrendsetter LB$24.95$38.27$92.89$20.65$34.84$73.11

      Details

      Minimum amount available

      $100,000

      Terms available

      15, 20, 30

      Discount for paying annually versus monthly

      8%

      Payment methods available

      Check; Auto bank draft (for monthly payments only); Credit and debit card (only for first payment)

      Is coverage available without a medical exam?

      Yes, for qualifying applicants, up to $500,000

      Is temporary coverage during underwriting available?

      Yes, up to $1,000,000.


      Riders

      • Waiver of premium: if you become totally disabled, the premiums will be waived until age 65 or to the end of the policy term (after a waiting period of 4 months).
      • Children's term rider: you can get life insurance for all children (ages 15 days - 18 years old) in one rider. Available coverage of $1,000 to $15,000 (in increments of $1,000).
      • Accelerated benefit rider (included at no extra cost): if you've been diagnosed with a terminal illness with less than 6 months to live, you can access up to 50% of the policy death benefit (up to a maximum $250,000).

      Rules

      What is the rule for accelerating the death benefit?

      If you've been diagnosed with a terminal illness with less than 6 months to live, you can access a portion of the policy death benefit.

      What is the rule for converting the policy?

      The policy is convertible until the earlier of the end of the term or to age 70


      Common features

      This policy, like all term life policies offered on our site, provides life coverage for a specific period of time (the term). The key features of this policy are standard across all the term policies we offer:

      • Level premium - which means the cost of the policy (the premium you pay) is fixed for the entire term of the policy. It will not increase during the term of the policy.
      • Good value - term life policies are significantly less expensive for the same amount of death benefit coverage than permanent life policies.
      • Regulated - the cost of this term life policy, for a given coverage amount and term, will always be the same for you regardless of who you buy it from. That’s because the policy will be priced based on the underwriting table the insurer files with the state insurance regulator.
      • No-risk obligation for you - you, as the policyholder, can cancel your policy at any time if you decide you don’t want it anymore. The insurer, however, cannot cancel your policy as long as you pay the premiums on time.
      • No exclusions - except for suicide during the first two years of the policy (which is standard by law across life insurance policies).
      • Terminal illness benefit - you can access a portion of the policy’s death benefit while you’re still alive if you’ve been diagnosed with a terminal illness. You might see this referred to as an "accelerated death benefit."
      • Convertible - which means, if you choose to, you can convert the term life policy to a permanent life policy. The conversion will generally cost you more and is subject to certain conditions.

      The review on this page is only for this company's term life insurance products.

      How much insurance do you need?

      I don't know how much I need

      Other Term Life Insurance Companies

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