Yahoo Finance Lincoln National (LNC) Meets Customer Demand With New Solution
Lincoln National Corporation LNC recently introduced Lincoln MoneyGuard Market Advantage to address the shift in customer demand for flexibility and growth. This should enable LNC to enhance its offerings and provide consumers with care protection for the long term, increased flexibility and options for investment. The move bodes well for the company.
Per the company’s research, 83% of consumers who do not own a hybrid life insurance policy, which is asset-based, are interested in it. Earlier, LNC used to provide consumers with long-term care solutions with downside safety and the ability to use them tax-free whenever needed. Adding the element of flexibility in this old model should help LNC garner more clients and improve its top line in the future.
LNC aims to strengthen MoneyGuard as a top-notch solution in the hybrid long-term care area. The new solution provides consumers with 50-plus investment options and the freedom to choose between indemnity and reimbursement-style payments. Under the indemnity payment method, consumers will receive pre-decided monthly payments, which may be used for care and in reimbursement, consumers will be reimbursed for their qualified expenses. Total long-term care benefits will be the same in both methods, but under the indemnity option, consumers can receive a maximum of 80% of the monthly amount.
MoneyGuard will also provide professionals with a choice between receiving their compensation with an upfront payment or tied to asset values. This new product should aid consumers in building a tax-efficient and market-driven portfolio for long-term care. LNC aims to continue innovating to meet the evolving needs of customers.
Shares of Lincoln National have gained 51.7% in the past year compared with the industry’s 24.7% growth. LNC currently carries a Zacks Rank #3 (Hold).
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