Lincoln Financial Review (2022)

Lincoln Financial provides annuities, life insurance, retirement planning services, and various employee benefits. Life insurance policies from Lincoln Financial include term life insurance and multiple types of universal life insurance. Lincoln Financial's life insurance rates are average compared to other companies, but they vary based on your situation.

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Chris Tepedino is a feature writer that has written extensively about home, life, and car insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and C...

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent Laura Walker

UPDATED: Feb 15, 2022

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Company Details
Address: 150 North Radnor-Chester Road
City: Radnor
State: PA
ZIP Code: 19087
Year Founded: 1905
AM Best Rating: A+
Company Rating 0 (0 reviews)

If you’re looking for ways to plan for retirement or protect your financial security, you may have come across Lincoln Financial life insurance, annuities, or other products. You may have also heard about Lincoln Financial plans from your employer. Therefore, if you’d like to know if Lincoln Financial is right for you, keep reading.

Below, we discuss Lincoln Financial and the products it offers. In addition, you can view some average life insurance rates from Lincoln Financial and more.

You can also enter your ZIP code into our free quote comparison tool above to compare life insurance policies similar to the ones offered by Lincoln Financial.

What is Lincoln Financial?

Lincoln Financial is a company that focuses on providing annuities, life insurance, and retirement planning services. They have helped many customers plan for retirement and protect their families’ financial security with products that enable them to secure and grow income.

Lincoln Financial was founded in 1905 and named after President Abraham Lincoln. Its logo represents the company’s belief in Abraham Lincoln’s values and ideals.

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What products does Lincoln Financial offer?

Lincoln Financial offers products for both individuals and employers. Individual products include annuities, life insurance, and long-term care planning. While, employer products include employee benefits and retirement plans.

Below, is more information on these individual products:

  • Lincoln Financial provides fixed annuities, fixed indexed annuities, and variable annuities. Annuities allow individuals to make an investment and invest it with an interest rate strategy determined by the type of annuity. Fixed annuities have a set interest rate, while fixed indexed annuities have a fixed rate with options to grow connected to an index.
  • In terms of life insurance, Lincoln Financial offers term life insurance, universal life insurance, indexed universal life insurance, and variable universal life insurance.
    • Term life insurance is a non-permanent policy that lasts for a specified period.
    • Universal life insurance is permanent and lasts as long as the policyholder pays their premiums. Universal life insurance builds cash value at a set interest rate.
    • Indexed universal life insurance has its interest rate tied to a major stock index.
    • In contrast, variable universal life insurance will grow based on the performance of investments chosen by the policyholder.
  • Lincoln Financial also provides long-term care planning in its MoneyGuard long-term care coverage. Lincoln Financial’s MoneyGuard products combine funding for long-term care needs with planning support.

Lincoln Financial also offers this inclusive list of employee benefits:

  • Absence management (such as helping manage Lincoln Financial FMLA regulations)
  • Short-term and long-term disability
  • Term life insurance
  • Dental and vision insurance
  • Accident insurance
  • Critical illness coverage
  • Hospital indemnity insurance

In addition, Lincoln Financial’s retirement plans, such as a Lincoln Financial 401(k), have up to 12,000 investment options for employees to take advantage of.

How much is Lincoln Financial insurance?

Lincoln Financial doesn’t provide information regarding their annuities or retirement planning rates on the company’s website. But, we can provide you with rates for some of Lincoln Financial’s life insurance products.

Average Lincoln Financial Rates - $1 Million 20-Year-Term Life Insurance
AgeAverage Rates for FemalesAverage Rates for Males
35$57.81$75.99
40$83.28$105.57
45$126.32$165.93
55$292.14$438.40
65$898.92$1,404.22
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The rates above are for non-smokers. If you smoke, you could see drastic increases in your rates. Take a look at average rates from Lincoln Financial for smokers.

Average Monthly Lincoln Financial Rates for Smokers - $1 Million 20-Year-Term Life Insurance
AgeAverage Rates for FemalesAverage Rates for Males
35$148.78$185.76
45$317.34$464.40
55$684.56$1,094.78
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Compared to other life insurance companies, Lincoln Financial’s rates are average.

What do customers think about Lincoln Financial?

Unfortunately, there are some negative reviews from Lincoln Financial customers online. Many complain of long wait times for claims and poor customer service. However, Lincoln Financial’s industry ratings put it among some of the highest-rated insurance companies.

Life Insurance Companies with the Highest Ratings

CompaniesBetter Business Bureau (BBB)A.M. BestJ.D. Power
AIGA+A718
AXA EquitableA+A+752
Banner LifeA+A+N/A
BrighthouseA+A+N/A
Guardian LifeA+A++760
John HancockA+A+739
Lincoln FinancialA+A+744
Mass MutualA+A++780
MetlifeB-A+780
Mutual of OmahaA+A+766
NationwideA+A+806
Pacific LifeA+A+N/A
Principal FinancialA+A+774
ProtectiveA+A+742
PrudentialAA+770
SBLIA+A+N/A
TransamericaA+A+720
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That said, Lincoln Financial has an NAIC complaint index of 0.09, which is extremely low compared to the national average of 1.00. This means that Lincoln Financial receives far fewer customer complaints than is expected for a company of its size.

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How do I get Lincoln Financial quotes or file claims?

Since there is no way to get Lincoln Financial quotes on the company’s website, you will need to contact Lincoln Financial directly to learn about its products. You can call (800) 487-1485 to learn about life insurance products.

You may also be able to learn about Lincoln Financial’s products through your employer. For example, if you have an employer that provides Lincoln Financial employee benefits, you should have easy access to information about Lincoln Financial’s products.

To file Lincoln Financial claims, you can call (800) 423-2765 (for employer-sponsored plans) or (800) 487-1485 (for general death claims). In some cases, financial advisors may be able to use their Lincoln Financial provider login to help manage your claims, or you can use your Lincoln Financial login to manage your policy if you have one.

Should I buy Lincoln Financial insurance?

Lincoln Financial provides adequate life insurance and other financial products for most people. The company has a variety of life insurance products, not including whole life insurance. In addition, its term life insurance is convertible to permanent life insurance.

Some life insurance policies from Lincoln Financial don’t require a medical exam, making the application process easier for people with minor health issues. However, some people may find it more convenient to apply for coverage online than over the phone or with an agent.

If you receive benefits from your employer, you may also have a wider variety of products to choose from, such as Lincoln Financial retirement plans or Lincoln Financial short-term disability insurance.

Now that you’ve learned about Lincoln Financial, enter your ZIP code into our free quote comparison tool below to learn about life insurance companies in your area.

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