Lincoln Financial Group

For over 115 years, Lincoln Financial has been in the business of helping employees protect what matters most to them. Life insurance can provide security for you and your family while protecting your financial future. As an industry leader, Lincoln has the support and expertise to help you navigate life’s important moments.

Everyone needs life insurance.

Contrary to popular belief, life insurance isn't just for parents. You need life insurance if anyone is financially dependent on you.

You've recently graduated from college.

You may have significant student loan obligations. If something were to happen to you, your loved ones would most likely be forced to shoulder that debt.

You're the parent of young children.

You want to make sure they'll be able to keep the same lifestyle and attend college—even if you're not there to see it happen.

Your grown children are on their own.

Your adult children may rely on you for support and help around the house. If you weren't there for them, your children would need extra money to pay someone to take care of things you've been managing for them.

Your spouse may be depending on your income for retirement.

But you're not sure your retirement savings is enough to keep up with a rising cost of living if your paycheck stopped. Life insurance can be a smart way to fill the gap.

Like many families, you rely on two incomes to make ends meet.

You'll need life insurance on both you and your spouse. Even if your spouse stays at home, you should consider life insurance on your spouse to cover the cost of hiring someone to take care of the things your spouse generally handles.

You want to be sure your children can protect their futures, too.

Most children's life insurance coverage contains an innovative feature that allows them to convert their term life protection to a permanent life insurance plan at a higher premium when they become adults. This ensures that your children can protect their own families—no matter what health problems they may develop.

You can enroll if:

• You are actively at work on the date your enrollment form is signed and coverage begins.
• You are scheduled to work at least 20 hours per week.
• You meet the eligibility requirements on the enrollment form.
• Are a U.S. citizen or U.S. permanent resident on U.S. payroll.

You can also enroll these family members:

• Your legal spouse
• Your eligible dependent children or those of your legal spouse

During initial and special enrollment, you are not required to meet any medical requirements if you are enrolling for up to 2 times your annual pay or $500,000 in total coverage (whichever is less) for yourself or up to $10,000 in total coverage for your spouse or child.

If you are enrolling for any coverage above those amounts, you will be required to complete Evidence of Insurability.

If you enroll outside of the initial enrollment period, special enrollment periods, or a qualified family status change, you will be required to submit Evidence of Insurability.

Good news! If you leave or retire from your current employer, you can continue your coverage without interruption (subject to applicable law and the plan’s terms and conditions). Although payroll deduction will no longer be available, you can opt for other payment methods such as direct bank account deduction, credit card billing or home billing. Higher rates may apply. 

Automatic coverage increase.  

• Each year on January 1, your employee coverage may go up based on an increase in your annual pay as of the prior July 1.
• Coverage increases automatically just once per program year. You must be actively at work on the effective date of your increase to qualify.

Accelerated benefit rider.

• An advance payment of your life insurance benefits is available if you are diagnosed with a terminal illness with a life expectancy of 12 months or less (may vary by state).
• You can request payment up to 80% of your coverage amount, up to a maximum of $500,000.
• Advance payment permanently reduces the death benefit.
• Premiums must continue to be paid on the remaining coverage amount after an advanced payment.

If you are applying during one of the qualifying enrollment periods and Evidence of Insurability is not required:

• If you apply on the 14th of the month or before, coverage is effective on the first of the month following date of hire.
• If you apply on the 15th of the month or after, coverage is effective on the first of the month following one month of continuous, active employment.

If you are applying outside of the qualifying enrollment periods and Evidence of Insurability is required:

• Coverage is effective on the 1st of the month after coverage is approved by Lincoln Financial Group.