NU Online News Service, Jan. 30, 10:03 a.m. – Lincoln National Corp., Fort Wayne, Ind., says it will be spending more than $49 million to realign its term life operations and change some of its accounting assumptions.
The company will spend at least $15 million to have First Penn-Pacific Life Insurance Company, a subsidiary in Schaumburg, Ill., focus exclusively on term life insurance. Operations connected with universal life insurance and other products will move to a Lincoln life insurance office in Hartford.
The realignment will cost a total of 115 jobs.
