Lincoln Announces VULOne, SVULOne, & IUL Pricing Adjustments

Effective February 13th, Lincoln is pleased to announce a pricing update to the Lincoln VULOne (2021) and SVULOne (2021), as well as updates to WealthPreserve I (2020) IUL & WealthPreserve I SIUL (2022). Please see below for details on each product:

VULOne & SVULOne Pricing Updates

The Lincoln SVULONE (2021) – 02/13/23 will replace Lincoln SVULONE (2021) – 07/11/22 in all states that are approved at rollout. Lincoln VULONE (2021) – 02/13/23 will replace Lincoln VULONE (2021) – 06/13/22 in all states that are approved at rollout. Pricing adjustments apply to both GMDB options (Lifetime guaranteed and GMDB drop at age 90) and will vary by age and funding pattern. On average adjustments are as follows:

• VULOne

• 10% increase to single pay designs

• 10% increase to 10 pay designs

• No change to level pay designs

• SVULOne:

• 12% increase to single pay designs

• 12% increase to 10 pay designs

• 5% increase to level pay designs

• In addition, Premium Load changes: Current = Guaranteed: 10% in years 1-20; 6% in years 21+

WealthPreserve IUL & SIUL Updates

• Pricing Updates:

• Reduced premium loads above threshold to match premium loads below threshold to improve competitiveness on single/short pays designs - current charge only (IUL & SIUL)

• Target premium increase - approximately 5% (IUL Only)

• Indexed Account Updates:

• Increased S&P Traditional Account cap from 9.50% to 10.00% (IUL & SIUL)

• Increased Fidelity Fixed Bonus from 0.95% to 1.00% (IUL Only)

• Lowered S&P Traditional Account floor from 0.25% to 0.00% (IUL & SIUL)

Transition Rules

For states that are approved at rollout there is a 30-day transition period which begins on Feb. 13, 2023 and ends on March 15, 2023. Applications received on or after March 16, 2023, will receive the new Lincoln product. During the transition period:

• For the old product, formal applications must be signed, dated, and received in-good-order in Lincoln’s home office by the end of the transition period to qualify.

• For LincXpress Tele-App Cases, a complete ticket and required solicitation forms must be received in Lincoln’s home office by the end of the transition period to qualify.

• For cases with the owner listed as “Trust to be Established,” formal applications received in the Home Office by the end of the transition period and have been signed by the insured will still qualify as awaiting a trust to be set up is part of the normal course of business. The only paperwork that Lincoln will not require at submission is the executed Certification of Trustee Powers with the trustee/owner’s signature. It must be received prior to issue.

• For pending business or policies already issued, Lincoln will accept a written request and a revised illustration to change to the new product.

For policies already placed, normal internal replacement guidelines apply. Rewrites will not be allowed.