Lincoln Financial Group is introducing a new indexed universal life (IUL) insurance product: he Lincoln WealthAccumulate Indexed Universal Life 2019 policy.
The new IUL policy offers four different indexed account options, with all of the options based on the S&P 500 Index.
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Lincoln Financial is selling the policy with a nine-year surrender charge period.
The policy comes with a return-of-premium rider. The rider gives the purchaser the option to have 100% of the premiums returned if the market performs worse than expected. A policyholder can use that option one time, at the end of policy year 20, with no additional upfront cost. Use of that rider is subject to a minimum premium requirement
In many states, the new policy is set to replace an older Lincoln Financial IUL policy, the Lincoln WealthAccumulate IUL (2018) policy, in May. The 2018 version of the policy offered the purchaser access to only three indexed account options, and it did not offer purchasers the same kind of return-of-premium feature.