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LINCOLN FOR LIFE MoneyGuard® Reserve Plus Training ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public.

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Presentation on theme: "LINCOLN FOR LIFE MoneyGuard® Reserve Plus Training ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public."— Presentation transcript:

1 LINCOLN FOR LIFE MoneyGuard® Reserve Plus Training ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

2 LINCOLN FOR LIFE 2 Agenda Launch Information and State Approvals Product Features and Enhancements Commissions Rates Replacements New Business/Underwriting Forms: Update Marketing ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

3 LINCOLN FOR LIFE 3 Launch Information and State Approvals Launch date March 28, 2011 –60 day transition period in approved firms Both products can be sold during this time For MGR, signed tickets must be dated on or before 5/27/11 and received in Lincoln home office by 6/10/11 State Approvals: all states except CA, CO, HI, IL, NY, PA, TN, VT, VI; not filing in Guam or N Marianas ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

4 LINCOLN FOR LIFE 4 Product Enhancements No Deductible Period –For all covered benefits International Benefit –Covers Nursing Home or Assisted Living Facilities outside the US (or its territories or possessions) –Benefit is equal to 50% of available CCBR maximum monthly benefit International Benefits are not available for the EOBR benefit –Benefits will continue as long as the remaining CCBR Benefit Limit is greater than zero New Inflation Options –Same options on CCBR and EOBR: 3% Simple, 3% Compound, 5% Compound ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

5 LINCOLN FOR LIFE 5 Enhanced Surrender Value Endorsement The Enhanced Surrender Value Endorsement (ESVE) replaces the Return of Premium (ROP) feature –Included at issue on all MoneyGuard Reserve Plus contracts at no additional charge –Included on both single pay and flexible pay contracts Available on flex pay contacts to age 65 (age 80 for single pay) –Enhanced Surrender Value (ESV) Threshold must be met ESV Threshold is met when all illustrated premiums have been made (on flex pay contracts) Loans or withdrawals before the ESV Threshold is met will terminate the endorsement ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

6 LINCOLN FOR LIFE 6 Notable Product Changes MoneyGuard® ReserveMoneyGuard® Reserve Plus Minimum Issue Age3035 Surrender Charge20 years10 years Premium LoadTiered schedule with first year charge 60% of target; 8.25% of excess 5% in all years Minimum Withdrawal$100$500 Maximum Withdrawal90% of Surrender ValueSurrender Value less $500 Inflation OptionsCCBR: 3% Simple, 2% Compound EOBR: 3% Simple, 5% Compound CCBR & EOBR: 3% Simple, 3% Compound or 5% Compound* *Inflation available on MGRP on the CCBR in CT, NJ ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

7 LINCOLN FOR LIFE 7 Specimen Contract The contract forms are now the same for single premium and flex premium contracts. ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

8 LINCOLN FOR LIFE 8 Commissions Trail option is available –Not all firms will offer trails –First year commission is reduced by 4% with trails calculated at 0.75% in years 2 through 10 of the ESV (Enhanced Surrender Value)* Updated Chargeback Schedule –Applies to all MGR and MGRP business dated on or after 3/28/11 Old Chargeback ScheduleNew Chargeback Schedule Months 1 through % chargeback on withdrawals**, surrender, lapse Months 6 through % chargeback on withdrawals**, surrender, lapse Months 1 through % chargeback for withdrawals**, lapse, surrender Months 13 through % chargeback for withdrawals**, lapse, surrender **For withdrawals, the amount of commission recalled pertains to the decreased portion of the policy value *less any withdrawals, loans or claims ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

9 LINCOLN FOR LIFE 9 Rates Rates have been updated –The change in pricing ranges from -5% to +5% where we sell the majority of our business –Rate changes more significant on cases with inflation No deductible period for any covered benefits Rates reflect newer industry-wide claims experience Rates will vary in some states due to state filing requirements –Rates will vary from nationwide rate in: CO*, DE, FL, MI, NC, PA*, UT, VT*, WA (*not yet approved) ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

10 LINCOLN FOR LIFE 10 Replacements There will not be a special program for people to move from an old contract into MGRP Exchanges from any MoneyGuard® product into MGRP: –Will have to go through underwriting –No compensation will be paid on the rollover funds if the policy is less than 11 years old. Starting in year 11 the comp on rollover will grade up to 100% at year 20. Compensation will be paid at normal first year rates on any new money put in the contract. REMINDER: Surrendering the old contract with the intention of purchasing the new contract IS considered a replacement ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

11 LINCOLN FOR LIFE 11 Updated Pre-Sale Underwriting Tools Presubmission Underwriting Tool –Replaces current Pre-Qualification Tool –Can be used in all states, including CA –Use at POS to determine initial eligibility 80% chance of approval based on PHI –Not designed to identify every decline situation Medication List –Clients taking any medications on the list for the identified medical condition are automatically declined –If they are taking the medication for a condition not identified, contact Underwriting prior to submission Underwriting Quick View –Provides details on how certain medical conditions are reviewed ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

12 LINCOLN FOR LIFE 12 Updated Pre-Sale Underwriting Tools ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

13 LINCOLN FOR LIFE 13 Underwriting Quick View - Updates Added tobacco use section Expanded cancer section with more details Postpone timeframe changes –Stroke reduced from 24 to 12 months –TIA reduced from 24 to 6 months –Pacemaker reduced from 6 to 3 months –Added need for complete physical exam in past 12 months –Added information on injections Gastric bypass reduced from 12 to 6 months –Added info on pending surgery and therapy Bone marrow transplant – changed from uninsurable to 10 year postpone In potentially insurable conditions – added more information to help better determine when a client may be considered Moved some conditions from uninsurable section to potential for consideration with guidelines of when we might consider ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

14 LINCOLN FOR LIFE 14 POS Forms Due to recent market conduct exams, we must now obtain additional documents at the point of sale –These changes are effective for any MoneyGuard tickets submitted on or after March 25, 2011 –Moving to electronic/voice signature functionality for these forms as part of technology initiative Required forms at POS in all states –LTC Personal Worksheet –Replacement of Life Insurance or Annuities Form This is for all sales (replacements or non-replacements) –CA ONLY: MoneyGuard® Reserve Application Checklist –CA ONLY: Financial Disclosure for CA Residents Age 65 & Over Forms updated on all forms tools –LTC Worksheet also in DesignIt ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

15 LINCOLN FOR LIFE 15 Ticket Updates to Ticket: Field for Reference Number Replacement and Benefit Information Removed - will use information on illustration for benefit information Agent Signature Removed Trails Option Added ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

16 LINCOLN FOR LIFE 16 Family Affair Advisor Materials 16 Advisor Kit Coversheet Order: MGR-ADV-FLI002 Pamphlet Overview Order: MGR-PAMP-BRC001 Have you ever mailer Order: MGR-LTC-MLR001 Sandwich Generation Flier Order: MGR-SAND-FLI003 LTC Brochure Order: MGR-LTC-BRC002 Client Kit Coversheet Order: MGR-CLT-FLI001 Advisor onlyClient approved ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

17 LINCOLN FOR LIFE 17 MGR Plus Core Materials Fact sheet-Single Premium Order: MGR-SP-FST002 The Cost of Long-Term Care Overview Order: MGR-LTC-BRC001 Client Product Guide Order: MGR-PROD-BRC001 Client Overview Brochure Order: MGR-OVR-BRC001 Client Trifold Brochure Order: MGR-TRI-BRC001 Fact sheet-Flexible Premium Order: MGR-FP-FST003 Client approved MGR Plus Client Presentation Order: MGR-CLT-PPT001 ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

18 LINCOLN FOR LIFE 18 MGR Plus Core Materials Nancy Client Profile Order: MGR-CP-FLI005 Client Profile one pager for older client Order: MGR-CP-FLI004 Client Profile one pager for young executive Order: MGR-CP-FLI003 Client Profile one pager Gloria Order: MGR-CP-FLI002 Client Profile one pager Jeff and Anne Order: MGR-CP-FLI001 Client approved ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

19 LINCOLN FOR LIFE 19 MGR Plus Core Materials New Piece like cost benefit link: use example of 75 year old Order: MGR-OC-FLI001 Cost benefit link Order: MGR-CB-FLI019 Age Matters Order: MGR-YC-FLI021 It's what they're missing Order: MGR-WTM-FLI013 MoneyGuard 2 minute story Order: MGR-STO-FLI001 MGR Plus Leverage Chart/Pre-Qual - B version Order: MGR-CALC-FLI002 MGR Plus Leverage Chart/Pre-Qual - A version Order: MGR-CALC-FLI001 MoneyGuard® Reserve Calculator (B Rates) Order: MGR-CALB-CLC001 MoneyGuard® Reserve Calculator (A Rates) Order: MGR-CAL-CLC001 Advisor Guide Order: MGR-ADV-BRC001 Advisor only ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

20 LINCOLN FOR LIFE 20 MGR Plus Core Materials 20 Streamlined Underwriting Order: MGR-UNDE-FLI001 Advisor Kit Cover Sheet Order: MGR-ADVK-FLI001 MGR Plus Key Advantages Flier Order: MGR-ADV-FLI001 Advisor PPT Presentation Order: MGR-ADV-PPT001 Advisor Invitation for training Order: MGR-ADV-INV001 Which asset would you sell first Order: MGR-SF-FLI009 Profile Worksheet Order: MGR-PRO-FLI001 Advisor only ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

21 LINCOLN FOR LIFE 21 MGR Plus Adminstrative Docs 21 MGR Plus Pre-Qual Tool Order: MGR-QUAL-FLI003 MGR Plus Medications Guidelines Order: MGR-MED-FLI002 MGR Plus Underwriting Brochure Order: MGR-UNDE-BRC001 MGR Plus PHI Order: MGR-PHI-BRC002 MGR Claims Q&A Order: MGR-CLA-FLI003 Advisor only ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN

22 LINCOLN FOR LIFE 22 Important disclosures Issuers: The Lincoln National Life Insurance Company, Fort Wayne, IN The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so. Guarantees and contractual obligations are backed by the claims-paying ability of the applicable issuing company and are subject to policy terms and conditions. Products and features are subject to state availability. The insurance policy and riders have limitations, exclusions, and/or reductions. The cost of the riders is deducted monthly from the policy cash value. Policies: Lincoln MoneyGuard ® Reserve Plus, universal life insurance policy form LN870 with a Convalescent Care Benefits Rider (CCBR) on Rider Form LR870, an Extension of Benefits Rider on Rider Form LR871, and an Enhanced Surrender Value Endorsement Form B10465F. Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations. ©2011 Lincoln National Corporation ©2010 Lincoln National Corporation For agent or broker use only. Not for use with the general public. LCN


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