With the introduction of Real-Time Approval and the expansion of MoneyGuard Market Advantage, Lincoln highlights its continued commitment to the MoneyGuard suite, its clients and their loved ones
Lincoln Financial Group continues to strengthen its MoneyGuard suite with the introduction of real-time underwriting capabilities and the expansion of Lincoln MoneyGuard Market Advantage into California. Lincoln MoneyGuard Market Advantage is a variable universal life policy with riders that reimburse for long-term care expenses; issued by the Lincoln National Life Insurance Company, Fort Wayne, IN.
“2020 LTC Marketing and Thought Leadership Research, Findings from Surveys of Advisors and Consumers”
A Lincoln Financial Group study shows that 59% of consumers are concerned they will need to rely on loved ones for their long-term care1. Lincoln’s MoneyGuard platform, with its recent upgrades, will continue offering clients the resources, solutions, support and stability they need to ease those concerns.
Latest Fintech News: Sound Point Capital Provides Financing to Support the Acquisition of Gannett Fleming
“For nearly 35 years2, MoneyGuard solutions have gone beyond funding long-term care needs,” said Michael Hamilton, vice president, MoneyGuard Business Management. “Each long-term care journey is unique and impacts both clients and their loved ones. We understand that clients value flexibility and we strive to meet them and their advisors where they are from time of application to paying for long-term care expenses. It is critical to honor the commitment between financial professionals and their clients, and our MoneyGuard mission is aligned with that commitment.”
On March 13, MoneyGuard solutions will introduce Real-Time Approval, the immediate communication of an underwriting approval following a client’s online or phone interview. With Real-Time Approval, qualifying clients could find out in as little as 20 minutes from the start of their interview that their application has been approved.
Real-Time Approval is available to customers ages 60 and under who purchase either MoneyGuard Market Advantage or MoneyGuard Fixed Advantage, a universal life insurance policy with riders that reimburse for qualified long-term care expenses; issued by The Lincoln National Life Insurance Company. This function includes eApplication with eSignature capabilities, which allow financial professionals and clients to complete application documents electronically, making the underwriting process faster and more user-friendly.
Latest Fintech News: Engageware Launches Industry’s First Peer Analytics Feature
In addition to Real-Time Approval, Lincoln expanded the reach of MoneyGuard Market Advantage to California. The variable universal life insurance policy with a long-term care rider first launched in 2021. Its forward-thinking product design provides growth potential for both long-term care and death benefits through investment option performance. The product also offers downside protection with annual lock-ins and a guaranteed minimum level of long-term care benefits. MoneyGuard Market Advantage in California also includes eApplication capabilities.
Lincoln MoneyGuard solutions have been key components of Lincoln’s business model since its launch more than three decades ago. The hybrid long-term care solution suite includes MoneyGuard Fixed Advantage and MoneyGuard Market Advantage. Continued enhancements and focus on additional flexibility are evidence of Lincoln’s strong commitment to the long-term care planning marketplace.
“While other carriers have entered and left the market, we remain committed to providing innovative solutions to meet the evolving needs of our customers,” said Bill Nash, senior vice president, head of MoneyGuard® Distribution. “This is not a responsibility we take lightly, and we intend to be here when our customers need us.”
Latest Fintech News: Alegeus and Navia Strengthen Partnership to Deliver Best-in-Class Benefit Experiences for Employers and Employees
[To share your insights with us, please write to sghosh@martechseries.com]
