Lincoln Adds Indemnity Benefits to MoneyGuard Market Advantage

From Lincoln Financial:

Coming Soon –  Lincoln MoneyGuard Market Advantage®  (2024)

Effective May 13, 2024, Lincoln is pleased to launch Lincoln MoneyGuard  Market Advantage® (2024), our newest variable linked-benefit solution in the Lincoln MoneyGuard® portfolio, subject to state, SEC, and firm approvals.  

We continue our commitment to the long-term care marketplace and solutions that help meet the changing needs of clients with MoneyGuard Market Advantage® (2024), which delivers innovation while maintaining market leadership and our focus on reimbursement long-term care benefits. Recognizing the importance of flexibility, we are introducing an indemnity choice option at time of first claim. Customers will also benefit from a redesigned and enhanced illustration, and expanded investment options that include First Trust funds. Additional flexibility comes from a new trails compensation option.

Pricing Updates

Pricing impacts will occur as it relates to the amount of LTC Benefit the client would receive if comparing Age 85 LTC Maximum Monthly Benefits to the current  MoneyGuard Market Advantage® product offering. The results will reflect up to 5% higher benefits at older ages with 3-5% lower benefits on average in the 45-60 age range. Following a transition period, Lincoln MoneyGuard Market Advantage® (2024) will replace currently sold Lincoln MoneyGuard Market Advantage® (2022). 

Transition Rules

Pending firm approval, applications for Lincoln MoneyGuard Market Advantage®(2024) are being accepted beginning  May 13, 2024.

  • For applications to qualify for the current MoneyGuard Market Advantage® (2022) pricing, a projection of values and the completed Part 1 must be signed, dated, and received in-good-order by Lincoln’s home office by Friday, June 14, 2024.

  • For pending or issued business on or after May 13, 2024, Lincoln will require the updated Agents Report and a revised illustration to change to MoneyGuard Market Advantage® (2024).  Please note the updated Long-Term Care Insurance Outline of Coverage should be provided to the client.

  • For placed business, normal internal replacement guidelines apply. Rewrites will not be accepted.

  • As of May 13, 2024, Lincoln DesignItSM and WinFlex will be updated with the new product version. During the transition period both versions can be run.  

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