A broad communication from Lincoln MoneyGuard went out and contained this information. Additional launch details including marketing materials can be found on the MoneyGuard Launchpad at http://lfg.com/mglaunchpad.
Lincoln MoneyGuard will be making pricing adjustments leading to a cost increase – the weighted average increase is about 7% between ages 50 – 70. Overall, the pricing change range in this core market is between 0% to 20% depending on several factors, including age, gender, marital status, and funding schedule.
With these design changes, some sales opportunities have improved for certain benefit periods and inflation options, for example, the 5-year benefit period and 5% compound inflation availability.
This change will take place in every state except New York and California.
What California should know
All MoneyGuard II sales are valid only if submitted no later than 11/15/19 in good order and placed and paid by December 31st. Please anticipate that California will need to adopt a MoneyGuard II compliant product by the end of the year so the information above about price adjustments WILL soon be relevant. Any cases not placed by year end will have to proceed with the new product and pricing.
What New York should know
All MoneyGuard Reserve sales are valid only if submitted no later than 11/15/19 in good order and placed and paid by December 31st. Please anticipate that New York will need to adopt a new, compliant product by the end of the year so the information above about price adjustments WILL soon be relevant. Any cases not placed by year end will have to proceed with the new product and pricing.
Please contact us if you have any questions.