Lincoln Financial Life Insurance Review 2025

Lincoln Financial offers competitive rates, flexible policies, and streamlined applications across term and permanent life insurance.

Read our Lincoln Financial life insurance review below to learn more.

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Updated: November 18, 2025

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At a Glance: Lincoln Financial Life Insurance

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Lincoln Financial

MoneyGeek Rating
4.5/ 5
5/5Affordability
3.6/5Customer Experience
4.5/5Coverage Points

  • Average Monthly Cost

    $31 (women); $38 (men)

  • Average Annual Cost

    $376 (women); $452 (men)
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MoneyGeek’s Take: Is Lincoln Financial Right for You?

Lincoln Financial ranks among the cheapest life insurance companies based on MoneyGeek's 2025 rate analysis survey, offering the lowest average term policy quotes.

The company offers a range of policy options ideal for young adults looking for short-term coverage and policies with various investment options. Older customers seeking the best whole life insurance would be better off with companies like North American and Protective Insurance.

Lincoln Financial offers high coverage caps and universal policies with tax-free benefits and growth potential, so it’s a great option for those who want policies that can build cash value over time.

Lincoln Financial Policy Options

Lincoln Financial offers term policies with coverage amounts ranging from $100,000 to over $2.5 million. Its permanent life insurance options include indexed universal and variable universal life policies. You can choose from different policy options to find the best coverage based on your unique financial situation and needs.

Term Life Insurance

Lincoln Financial’s term life insurance policies offer flexible terms and coverage options to suit those who need temporary life insurance for short-term needs like education expenses or mortgage payments.

Term Life policies available to Lincoln Financial include:

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    Lincoln TermAccel Level Term

    This term policy works well for people in good health looking for quick coverage that doesn’t require lab exams. The Lincoln TermAccel Level Term is available for 10, 15, 20 or 30 years, and coverage levels range from $100,000 to $2.5 million.

    Premiums are fixed for the policy term's duration, and you can convert your term policy to a permanent policy when the term policy expires. You can customize their policy with various riders, including an accelerated benefits rider, children's level term rider and waiver of premium rider.

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    Lincoln LifeElements Level Term

    This term policy is available for applicants up to age 60. Term options vary from 10, 15, 20 or 30 years with coverage levels from $250,000. Maximum coverage amount depends on individual underwriting. Depending on your profile, you may not need lab work and a phone interview to qualify for coverage.

    Premiums are fixed for the duration of the policy term, and if you elect to continue coverage at the end of the term, premiums will increase annually. You can also convert the policy to a permanent one when it expires. Available riders include accelerated benefits rider, children's level term rider and waiver of premium rider.

Lincoln Financial’s term life insurance policies are ideal if you want coverage for short-term needs, such as education expenses or mortgage payments. These policies suit young applicants in good health who need flexible coverage amounts.

Universal Life Insurance

Lincoln Financial offers indexed universal life insurance policy options with customizable coverage amounts, premiums and duration, including:

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    Lincoln WealthAccelerate IUL

    With this policy, you get a death benefit plus growth potential through your choice of two indexed accounts: the S&P 500 Traditional Indexed Account or Fidelity AIM Dividend Indexed Account with Fixed Bonus. Indexed accounts have downside protection to safeguard your investment from market losses. You can also add various riders to your policy to customize your coverage.

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    Lincoln WealthBuilder IUL

    Lincoln WealthBuilder IUL combines death benefit coverage with growth potential through five indexed accounts, including S&P 500 Traditional, S&P 500 Dynamic Intraday TCA Enhanced VCI, and Fidelity AIM Dividend Fixed Bonus options. The policy offers downside safeguards from market losses while providing access to cash value for life needs or retirement income supplementation. You can add optional riders, including chronic illness protection and a multiplier rider on eligible accounts.

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    Lincoln WealthBuilder ECV IUL

    Lincoln WealthBuilder ECV IUL focuses on high early cash value access, making it suitable for premium financing and business insurance needs. It includes an Early Cash Value Endorsement option and offers five indexed accounts with built-in market volatility protection. Cash value grows tax-deferred with tax-free access options. This accumulation-focused policy provides death benefit coverage, growth opportunities through indexed accounts, and optional chronic illness protection and multiplier riders.

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    Lincoln WealthPreserve 2 Survivorship IUL (2022)

    This policy offers coverage for up to two lives under a single policy. You also get growth opportunities for cash value through six indexed accounts, including Fidelity AIM Dividend Indexed Account - Fixed Bonus, Fidelity AIM® Dividend Indexed Account, S&P 500 Multiplier Indexed Account1, S&P 500 Fixed Bonus Indexed Account, S&P 500 Traditional Indexed Account and S&P 500 Performance Trigger Indexed Account.

Lincoln Financial also offers Variable Universal Life insurance policies with flexible premiums and death benefits and cash value growth based on your market-driven fund allocations. These policy options include:

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    Lincoln AssetEdge VUL (2022)

    This policy offers tax-free death benefit coverage and cash value growth with supplemental income potential. You can choose from up to 75 variable investment options, four indexed account options with downside protection and a fixed account that offers predictable growth. You can adjust your investments as needed throughout the policy term and include optional riders in your policy to customize your benefits.

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    Lincoln AssetEdge VUL (2025)

    Lincoln AssetEdge VUL (2025) updates the company’s variable universal life design with structural changes that improve flexibility and simplify management. It removes earlier allocation restrictions, allowing full access to indexed account options in all policy years. It introduces an Enhanced Overloan Protection Endorsement that activates earlier and expands loan support for heavily funded policies. Lincoln also adjusted the no-lapse guarantee mechanics and removed lower-use provisions like the Change of Insured Rider.

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    Lincoln AssetEdge SVUL

    Lincoln AssetEdge SVUL covers two lives under one survivorship policy, offering death benefit coverage plus growth through more than 75 investment options and four indexed accounts with protection from market losses. This provides tax-deferred growth, tax-free income access, and no-lapse protection for up to 20 years. It works well for estate planning, wealth transfer, charitable giving, and business continuity needs. Optional riders include living benefits for unexpected care expenses.

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    Lincoln AssetEdge Exec VUL (2020)

    This policy is available to individuals and business owners. With the Lincoln AssetEdge Exec VUL (2020), you get a tax-free death benefit, tax-efficient cash value growth and supplemental income. Policyholders also get 75 plus variable investment options, four indexed account options and a fixed account. This policy includes enhanced surrender value as an automatic rider that waives all surrender charges.

Lincoln Financial offers indexed and variable universal life policies ideal for those who want flexible permanent coverage and premium amounts, as well as cash value growth through various investment options.

Hybrid Long-Term Care and Life Insurance

Lincoln Financial’s MoneyGuard line offers hybrid long-term care and life insurance designed for people who want coverage for future care needs with the added benefit of a guaranteed death benefit. MoneyGuard policies use linked-benefit structures, so the coverage can pay for qualified long-term care services first, and unused benefits pass on as a life insurance payout.

You choose flexible premium payment schedules and can access claims for home care, assisted living and similar services. MoneyGuard appeals to buyers who want predictable pricing, long-term care coverage that doesn’t lapse for non-use and a straightforward path to leave remaining benefits to loved ones.

Lincoln Financial’s Life Insurance Riders

Life insurance riders are add-on benefits that are available at an additional cost that you can use to customize your life insurance coverage to suit your individual needs.

Lincoln Financial offers the following riders:

Rider
Description

Children’s Term

Provides level term coverage for all the policyholder’s children.

Accelerated Benefits

Pays out part of the death benefit if you become terminally ill.

Supplemental Term Insurance

Allows you to add additional, convertible level term insurance for a loved one or business partner. This rider is not available with all policies.

Payor Waiver of Premium Benefit

Waives the premium payments if you become totally disabled while your policy is in force.

Lincoln LifeAssure Accelerated Benefits

Pays part or all of the death benefit if you develop a permanent chronic illness.

Lincoln LifeEnhance Accelerated Benefits

Pays out part or all of the death benefit if you develop a permanent chronic or terminal illness.

Estate Protection

Offers additional term insurance on your survivorship policy in the first four years of the policy’s term.

Extended No-Lapse Minimum Premium

Extends the no-lapse premium included with the policy, subject to a specified minimum premium.

Overloan Protection

Ensures that the minimum death benefit will be $10,000, offering financial protection for those with heavily loaned policies. Lincoln introduced an Enhanced Overloan Protection Endorsement in 2025 with no upfront fee.

Rider availability may vary depending on the type of policy and your eligibility. Contact Lincoln Financial for a full list of riders.

How Much Is a Lincoln Financial Life Insurance Policy?

Your age, gender, whether you smoke and your health affect your life insurance costs. Among the major insurers we analyzed. Lincoln Financial has the most affordable life insurance quotes.

The table below shows average Lincoln Financial rates for term policies for different term lengths, coverage levels, age, and gender. Rates shown are estimates and your actual premium may vary based on health, lifestyle, and underwriting factors.

Data filtered by:
10 years
Select
Male
No
$100,000$9$105
$250,000$14$165
$500,000$24$285
$750,000$33$398
$1,000,000$46$548
$1,500,000$68$804
$2,000,000$88$1,052
$3,000,000$119$1,412

How to Get Lincoln Financial Life Insurance

Lincoln Financial policies are available in all states, though policy options may vary based on location. This provider has a convenient phone app and phone interview application process that makes getting coverage easy.

  1. 1
    Do Your Research

    Lincoln Financial doesn’t have an online quote feature, but you can speak to an agent for more information. You can also get more information through the Tele-App or simple phone interview application. Compare available policy options to find a plan that best suits your needs.

  2. 2
    Compare Quotes

    Individual factors like age and health status impact life insurance rates, so it pays to compare quotes to find the best rates for your profile. Some policy options have age restrictions and may require medical exams based on your age or health condition.

  3. 3
    Health Check

    Your health may impact your insurability, so health checks may be required depending on the type of policy, coverage level and other factors. Lincoln Financial also has policy options with no exam requirement, so check with an advisor to find the most suitable option for your profile.

  4. 4
    Approval

    Once your policy is approved, you can choose the eDelivery option to get your policy faster. Your policy will take effect once you have made the first premium payment.

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WHAT TO DO IF LINCOLN FINANCIAL INSURANCE DENIES YOU COVERAGE

Life insurance policies are subject to underwriting, so it's not unusual for applications to sometimes be declined. If this happens to you, contact your agent to understand why your application was rejected and what you need to change to improve your insurability,

Risky lifestyle habits like smoking, being overweight and others may lead an insurer to decline or postpone approval of your application. In such instances, making healthy lifestyle changes, like quitting smoking or maintaining a healthy weight, improves your chances of approval.

You can also explore other options. Consider no-exam policies or apply to other insurers.

Lincoln Financial Claims Process

Lincoln Financial provides multiple ways to file life insurance claims. Beneficiaries can submit claims online through the company's website, by phone at 800-454-6265, or by mail. You'll need the policy number, death certificate, and completed claim forms.

Lincoln Financial assigns a dedicated claims specialist to guide beneficiaries through the process and answer questions. The company processes most claims within five to seven business days after receiving all required documentation.

For accelerated benefits riders or living benefits claims, contact your financial professional or call the claims department directly. Lincoln Financial also offers beneficiaries the option to receive death benefit proceeds as a lump sum or through other payout options.

Lincoln Financial Life Insurance Reviews: Bottom Line

Lincoln Financial is a top insurer offering a range of life insurance options at competitive rates to suit different needs. Our Lincoln Financial life insurance review also found that the company is a good choice for young adults looking for short-term coverage and policies with investment options.

Compare Lincoln Financial quotes and offers with other insurance companies to find the best life insurance for your needs.

Compare Insurance Rates

Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.

Lincoln Financial Life Insurance Policies: FAQ

MoneyGeek answered frequently asked questions about Lincoln Financial to help you learn more.

Can you borrow from your Lincoln Financial life insurance policy?

What’s the maximum amount of life insurance coverage available from Lincoln Financial?

Do life insurance policies from Lincoln Financial pay dividends?

Can you get life insurance from Lincoln Financial if you have cancer?

Do life insurance policies from Lincoln Financial cover death by drug overdose?

Do life insurance policies from Lincoln Financial cover death by suicide?

How We Rated Lincoln Financial Life Insurance

Life insurance pricing varies based on your health, age, and lifestyle. We built our rating system to show you which companies offer the best combination of competitive rates, flexible coverage options and reliable customer service so you can make an informed choice without getting overwhelmed by industry jargon.

Our scoring evaluates three critical factors:

  • Affordability (55%): Average quotes for term and permanent life policies
  • Customer Experience (30%): J.D. Power ratings, complaint indexes and usability
  • Coverage Options (15%): Product range, riders, conversion options and living benefits

We pull data from state insurance filings, A.M. Best financial ratings and MoneyGeek's proprietary insurer database to give you the complete picture.

How We Established Pricing Benchmarks

To compare rates fairly across insurers, we started with a standard profile that reflects typical life insurance shoppers:

  • 40-year-old male
  • Nonsmoker
  • 5 feet 9 inches tall, 160 pounds
  • Average health rating

This baseline profile gives us an apples-to-apples comparison of how insurers price their policies against each other.

We then adjusted age, gender, height, weight, tobacco use and health rating to see how underwriting handles different customer profiles. This reveals pricing patterns across various risk categories, showing you whether a company tends to favor younger buyers, rewards excellent health with steeper discounts, or offers more competitive rates for higher-risk applicants.

What We Analyzed

We gathered quotes across multiple term lengths and coverage amounts to understand how pricing scales as your policy grows. Some insurers stay competitive on smaller policies but become expensive as coverage increases. Our Lincoln Financial life insurance review catches these pricing patterns.

Beyond rates, we examined the full product lineup to show you how the company stacks up against competitors. This includes term life, universal life, and specialized products, giving you a complete view of your options.

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About Mark Fitzpatrick

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Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.

Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!

He writes about economics and insurance, breaking down complex topics so people know what they're buying.

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