Lincoln Financial Launches Enhanced Long-Term Care Product

Lincoln Financial Group

RADNOR, PALincoln Financial Group (NYSE: LNC) is addressing evolving customer preferences with the introduction of Lincoln MoneyGuard Market Advantage® (2024). This product, issued by The Lincoln National Life Insurance Company, offers long-term care protection, increased investment options, and tax advantages.

Lincoln Financial’s research indicates that 83% of consumers without asset-based hybrid life insurance are interested in such solutions for long-term care. Initially launched in 2021, Lincoln MoneyGuard Market Advantage has been updated to provide market-driven growth with downside protection. The product allows consumers to grow their investments tax-deferred and use them tax-free when needed.

“As marketplace needs shift, Lincoln remains committed to meeting clients where they are,” said Michael Hamilton, vice president of MoneyGuard Business Management. “MoneyGuard Market Advantage is a forward-thinking solution.”

The 2024 version offers over 50 investment options and two payment styles at claim time: reimbursement or indemnity. Reimbursement covers qualified expenses, while indemnity provides predetermined monthly payments covering 80% of the maximum long-term care benefit.

Financial professionals can now choose between an upfront sum or ongoing payments tied to asset value as compensation for selling the product.

Lincoln Financial’s research shows that 86% of consumers believe having a plan for long-term care would boost their financial confidence. The new MoneyGuard Market Advantage aims to build a tax-efficient plan for long-term care and strengthen consumer portfolios.

“MoneyGuard Market Advantage supports consumers and their families during critical times,” said Jared Nepa, senior vice president of Life and MoneyGuard Distribution. “With over 35 years in this market, we are dedicated to providing innovative solutions to meet evolving needs.”

READ:  Lincoln Financial Group Highlights 2023 CSR Achievements in New Report

This product launch initiative is geared towards offering a range of flexible and innovative long-term care solutions, catering to the diverse needs of individuals seeking reliable and forward-thinking approaches to healthcare.

For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and Microsoft Start.