Lincoln Introduces New, Improved AssetEdge VUL
From Lincoln:
Effective Jan. 24, 2022 and subject to state availability, Lincoln is pleased to introduce the newest product in its variable universal life portfolio, Lincoln AssetEdge® VUL (2022).
The new Lincoln AssetEdge® VUL (2022) continues to offer death benefit protection with growth potential through investment options and flexibility to meet your client’s future financial goals. This product replaces the existing Lincoln AssetEdge® VUL (2020) and Lincoln AssetEdge® Exec (2020) product versions with the focus on providing significant market-driven growth potential and cash value liquidity for retirement and protection needs. Pricing updates improve competitiveness in both accumulation/distribution focused designs and protection focused designs.
Enhancements Include:
The new optional Enhanced Allocation Rider gives the policyholder the option to utilize cash value within the policy to pursue increased upside potential through indexed features.
And the product continues to offer balance sheet solutions through the Business Exec Enhanced Surrender Value Rider (now an optional rider on the base product), as well as a new optional Individual Exec Enhanced Surrender Value Rider designed for high-net-worth individuals
Transition Guidelines
Lincoln AssetEdge® VUL (2022) will replace both Lincoln AssetEdge® VUL (2020) and Lincoln AssetEdge® Exec (2020) products. For states that are approved at rollout there is a 30-day transition period which begins on Jan. 24, 2022 and ends on Feb. 23, 2022.
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 by the end of the transition period to qualify.
For pending business or policies already issued, Lincoln will accept a written request and a revised illustration to change to the Lincoln AssetEdge® VUL (2022) product.
For policies already placed, normal internal replacement guidelines apply. Rewrites will not be allowed.
For states approved after rollout, the above will automatically apply based on the availability date.
Product Availability
New Business applications will be accepted on Jan. 24, 2022 in approved states. Click here to view the current Variable Universal Life product availability grid. Please note, the new product will not initially be filed in New York.