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Nov 8, 2016 • LTCI Partners

Moneyguard NY Rates Changing on 11/7/16


Lincoln MoneyGuard® Reserve

New York Product Updates


Lincoln Financial Group has a long-standing commitment to help you protect the wealth of your clients from
long-term care expenses. That commitment includes providing valuable solutions, which are appropriately priced
for market conditions.
In response to persistently low interest rates, including the recent historic lows, we are announcing price
increases for new sales of Lincoln MoneyGuard Reserve products in New York. These increases — the first since 2013 — help us to maintain the availability of the product in the New York market. Lincoln is one of the few carriers offering a life/long-term care combination solution to New York residents. These changes ensure your clients will continue to have a choice in their long-term care funding options, including the flexibility offered by MoneyGuard, which provides benefits whether or not your clients ever need long-term care.
What we are doing

On November 7, 2016, we will implement pricing increases for new sales of the Lincoln MoneyGuard Reserve product in New York.

Single pay premium rates will increase an average of
1% with a range of 0%–5%.*

Flexible premium payment rates will increase an average of 4% with a range of 1%–10%.*
Why we are doing it

We have made pricing changes due to persistently
low interest rates, including the recent historic lows.

This decision maintains the availability of the product in the New York market, ensuring your clients continue to have a choice in their long-term care funding options.
How it may impact your business

A standard 30-day transition period will begin on November 7, 2016.

For applications to qualify for current MoneyGuard Reserve pricing, the completed ticket and other required point-of-sale forms for MoneyGuard Reserve must be signed, dated, and received at the Lincoln Home Office by December 9, 2016.

For New York replacement business, it is imperative that the ticket and all required point-of-sale and replacement forms be signed, dated, and received
at the Lincoln Home Office by December 9, 2016.

New York replacement business point-of-sale forms include all Lincoln replacement forms along with: Appendix 11: Definition of Replacement, Authorization to Disclose Policy Information, and Appendix 10C: Important Notice Regarding Replacement.

As of November 7, 2016, the Lincoln DesignItSM Platform and WinFlex will be updated to reflect the new rates. All requests for projection of values reflecting the old rates will be handled by Lincoln Internal Sales teams.

Ensure that you are appropriately credentialed. Clients of advisors who are not properly credentialed to solicit business when the paperwork is submitted will be subject to the premium rates in effect on the date when the advisor becomes properly credentialed and resubmits the paperwork.

Remember that once a ticket is submitted, the Personal History Interview (PHI) must be completed within 60 days of submission. In addition, the case must be placed within 90 days of the PHI. If these conditions are not met, the case will be closed out. If a case is reopened, a new ticket must be submitted, and the case will be subject to these benefit adjustments.
* At certain ages this benefit adjustment may alter the benefit level or rider combinations available for sale. For those situations where rider/inflation combinations are no longer available, alternative options include reducing benefit levels or purchasing the policy at the same benefit level with a flex pay design, in which case rates may increase by more than the ranges stated.

Written by LTCI Partners