New offering provides guaranteed coverage on two lives within one policy, with upside potential and features to help keep pace with cost-of-living increases

Lincoln Financial Group (NYSE:LNC) today launched Lincoln WealthPreserve^® 2 Survivorship Indexed Universal Life (SIUL) for couples or business partners looking to insure two individuals in a single policy. Lincoln WealthPreserve^® 2 SIUL offers an extended guaranteed death benefit, growth potential with downside protection and optional features for life's changing needs, while enabling clients to implement estate planning strategies to transfer wealth and minimize the impact of estate taxes.

"SIUL policies continue to see strong demand with industry sales increasing nearly 70% in 2021¹, reflecting the value consumers place in these types of policies to protect their legacies, preserve assets and take advantage of growth opportunities," said Stafford Thompson, Jr., senior vice president, Life and Executive Benefits Business Management at Lincoln Financial. "For those consumers, Lincoln WealthPreserve^® 2 SIUL offers a balance of extended death benefit coverage, growth potential, tax efficiencies and optional features to meet a variety of planning needs."

Protection and Estate Planning

Lincoln WealthPreserve^® 2 SIUL provides an income tax-free death benefit at the end of the last surviving insured's life and is ideally suited to enable policyholders to transfer a greater inheritance to beneficiaries or provide proceeds to pay estate taxes. If properly structured in an irrevocable trust, the life insurance proceeds from Lincoln WealthPreserve^® 2 SIUL may also be free from estate taxes.

Beyond the base protection features offered with Lincoln WealthPreserve^® 2 SIUL, clients can add optional protection benefits, including:

Supplemental Increase Rider which helps protect against cost of living increases by automatically growing the policy's coverage by 3% each year
Extended No-Lapse Premium Rider which extends the 25-year no-lapse minimum coverage period to a specified duration based on the younger insured's age
Estate Protection Rider to help protect the policy proceeds if an irrevocable trust is not established prior to policy issue

"When it comes to estate planning and transferring wealth, there can be many considerations, such as minimizing the impact of estate taxes, making a charitable gift or ensuring business continuity," said Andy Bucklee, senior vice president and head of Life and Executive Benefits Distribution, Lincoln Financial Distributors. "Financial professionals can play an important role in developing goals-based estate planning strategies on behalf of clients and helping them understand the flexibility that survivorship products like Lincoln WealthPreserve^® 2 SIUL bring to the process."

Growth and Additional Planning Needs

In addition to estate planning, Lincoln WealthPreserve^® 2 SIUL can help meet various other financial needs, including offering tax-deferred growth potential, which can be accessed as a source of supplemental income for retirement or other milestones, tax-free². To help clients meet their long-term goals based on return potential and downside protection preferences, Lincoln WealthPreserve^® 2 SIUL offers six indexed account options, including two Fidelity AIM^® Dividend Indexed Accounts and four indexed accounts linked to the S&P 500^®. Policy value can be allocated to one or more account options with the flexibility to make allocation changes in the future.

Lincoln WealthPreserve^® 2 SIUL can fund business protection strategies like key person coverage that can help maintain business continuity and solvency in the event of a key employee's passing.

Lincoln WealthPreserve^® 2 SIUL expands Lincoln's IUL portfolio, which also includes single-life policies Lincoln WealthAccumulate^® 2 IUL (2020), for clients prioritizing cash value growth, and Lincoln WealthPreserve^® 2 IUL (2020), for clients looking for longer-term, guaranteed death benefit coverage.

Term Pricing Enhancements

Separately, for clients with temporary life insurance needs such as covering a child's education expenses or a mortgage, today Lincoln also announced enhanced pricing competitiveness on its Term insurance policies, Lincoln LifeElements^® Level Term (2019) and Lincoln TermAccel^® Level Term (2019).

LIMRA, U.S. Retail Individual Life Insurance Sales Participant Report 2021
Loans and withdrawals will reduce the policy values and death benefit, may cause the policy to lapse and may have tax implications

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help people take charge of their financial lives with confidence and optimism. Today, approximately 16 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, and guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $308 billion in end-of-period account values as of March 31, 2022. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good and ranks among Newsweek's Most Responsible Companies. Dedicated to diversity, equity and inclusion, we are included on transparency benchmarking tools such as the Corporate Equality Index, the Disability Equality Index and the Bloomberg Gender-Equality Index. Committed to providing our employees with flexible work arrangements, we were named to FlexJobs' list of the Top 100 Companies to Watch for Remote Jobs in 2022. With a long and rich legacy of acting ethically, telling the truth and speaking up for what is right, Lincoln was recognized as one of Ethisphere's 2022 World's Most Ethical Companies®. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.

Issuers:

The Lincoln National Life Insurance Company, Fort Wayne, IN

The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so.

All guarantees and benefits of the insurance policy are subject to the claims-paying ability of the issuing insurance company. They are not backed by the broker-dealer and/or insurance agency selling the policy, or any affiliates of those entities other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims-paying ability of the issuer.

In some states, contract terms are set out and coverage may be provided in the form of certificates issued under a group policy issued by The Lincoln National Life Insurance Company to a group life insurance trust. Products, riders and features are subject to state availability. The insurance policy and riders have limitations, exclusions, and/or reductions. Check state availability.

Distributor: Lincoln Financial Distributors, Inc., a broker-dealer

Policies:

Lincoln WealthPreserve® 2 SIUL (2022) policy form ICC22-SUL6094 and state variations – not available in New York

Accelerated Benefits Rider (With No First Death Benefit) (Rider form: J-390)

Accelerated Benefits Rider (With First Death Benefit) (Rider form: J-389)

Supplemental Survivorship Term Insurance Rider (also known as Estate Protection Rider) (Rider form: J-5666)

Supplemental Increase Rider (SIR) (Rider form: ICC22SIR-7107)

The S&P 500 Index is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates ("SPDJI"), and has been licensed for use by The Lincoln National Life Insurance Company. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC, a division of S&P Global ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). The Lincoln National Life Insurance Company's product is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

The Fidelity AIM® Dividend Index (the "Index") is a product of Fidelity Product Services LLC ("FPS") and has been licensed for use by The Lincoln National Life Insurance Company and its affiliates and reinsurers ("Lincoln"). Fidelity is a registered trademark of FMR LLC. The Index is the exclusive property of FPS and is made and compiled without regard to the needs, including, but not limited to, the suitability needs of Lincoln or any Lincoln life insurance owner. Lincoln exercises sole discretion in determining whether and how the life insurance will be linked to the value of the Index. FPS does not provide investment advice to owners of the life insurance, and in no event shall any Lincoln life insurance policy owner be deemed to be a client of FPS. Neither FPS nor any third party involved in, or related to, making or compiling the Index makes any representation regarding the Index, Index information, Index or market performance, life insurance generally or the Lincoln life insurance in particular, and Lincoln life insurance is not sold, sponsored, endorsed or promoted by FPS or any other third party involved in, or related to, making or compiling the Index (including the Index calculation agent, as applicable). FPS disclaims all warranties, express or implied, including all warranties of merchantability or fitness for a particular use; does not guarantee the adequacy, accuracy, timeliness, and/or completeness of the Index or any data or communication related thereto; and assumes no liability for errors, omissions, or interruptions of the Fidelity AIM® Dividend Index.

It is possible coverage will expire when either no premiums are paid following the initial premium, or subsequent premiums are insufficient to continue coverage.

LCN: 4741604-051222

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Lincoln Financial expands Indexed Universal Life suite with survivorship product for wealth transfer and estate planning