Lincoln Financial Launches Economical Insurance Product

Lincoln National Corporation (NYSE:LNC) recently launched Lincoln TermAccel Level Term insurance to facilitate advisors in providing more affordable insurance protection. This new product has been mainly designed for a client base ranging from millennials to senior citizens who need insurance with lower principal amounts.

Lincoln TermAccel has been designed to provide a time saving, fully-electronic transaction process to insurance advisors. It includes a no-cost telephone application where customers can submit an electronic questionnaire with basic information. The process is then followed by a telephone interview by an agent. Clients, if eligible, have the option to get underwriting labs ceded which makes the process less invasive. The latest product has an automated underwriting approach, which makes application reviewing and verification fast and efficient. Once approved, policies can be delivered through a secure online platform that includes e-signature capabilities and easy accessibility through PC or mobile devices. This eliminates the need for administrative tasks and paperwork, thereby making the entire process from the point of quote to policy delivery much quicker and hassle free.

Lincoln National Corporation, which uses Lincoln Financial Group as itsthe brand name, regularly launches new products in the market to maintain its competitive position. Apart from TermAccel the company unveiled LincX-press process. This product, along with Lincoln LifeElements Level Term, is part of Lincoln’s suite of term life products.

This Zacks Rank #3 (Hold) life insurer also launched enhancements to Lincoln Director, its employee sponsor retirement program, on Apr 16. The program has been designed to provide additional options to advisors for their small business clients. Being customer centric, Lincoln Financial develops these products to cater to customers irrespective of age, face amounts or other differences.

Some better-ranked insurance industry stocks include Health Insurance Innovations, Inc. (NASDAQ:HIIQ) and Manulife Financial Corporation (NYSE:MFC) and GWG Holding, Inc. (NASDAQ:GWGH) . While Health Insurance Innovations and Manulife Financial sport a Zacks Rank #1 (Strong Buy), GWG Holdingholds a Zacks Rank #2 (Buy).