NU Online News Service, Oct. 24, 2:50 p.m. – The Lincoln National Life Insurance Company, Hartford, has introduced new and upgraded survivorship products to its line of universal life and variable universal life policies.

Its universal life portfolio now features Lincoln SUL(DB), a survivorship product that offers low-cost wealth preservation and death-benefit protection. Lincoln also offers a newly upgraded survivorship product called Lincoln SUL(LPR)-II, which provides flexible, guaranteed lifetime coverage.

Variable universal life enhancements in its portfolio include Lincoln SVUL-III, for those interested in the potential for greater cash accumulation through a wide variety of investment options.

Lincoln Life’s survivorship products provide coverage on the lives of two individuals under a single policy, with a death benefit payable upon the second death.

“The addition of these new and upgraded survivorship products offers our clients additional flexibility and product variety,” said Gary Parker, chief product officer for Lincoln Life.

Lincoln SVUL-III is aimed at couples who want cost-effective life insurance for personal needs such as estate planning, charitable giving and income replacement. The product can also be part of a business continuation plan, Lincoln notes.

Lincoln SUL(DB) has a primary emphasis on low-cost wealth preservation and death benefit protection that can play an integral role in a variety of estate planning and business succession planning situations.

Lincoln SUL(LPR)-II focuses on competitive lifetime guaranteed death benefit protection for clients who want such assurances in their estate plans.

Other survivorship product enhancements include Lincoln Life’s accounting value rider, which provides enhanced surrender values in the early years of a policy.