Lincoln National Corporation ( LNC Quick Quote LNC - Free Report) recently unveiled a variable universal life insurance policy named MoneyGuard Market Advantage. It’s worth mentioning that the policy is equipped with guaranteed protection and a long-term care rider, which intends to meet qualified long-term care expenses.
Notably, the MoneyGuard Market Advantage policy seems to be a luring one for customers as it promises to offer a guaranteed minimum level of death and long-term care benefits that hold potential to grow over time. In addition, the policy empowers customers to have access to more than 40 investment options from leading portfolio managers and customizable or turn-key portfolios
To obtain the policy, customers simply have to make either a single and upfront payment or pay gradually with the passage of time, and adjust per requirements.
With MoneyGuard Market Advantage, clients can start bracing up for meeting long-term care expenses at an early age, as a result of which their benefits will amplify with time. With regard to qualified expenses, any growth is not only tax-deferred but also exempted from tax.
Apart from being able to avail care in an assisted living facility or nursing home, there is another noteworthy benefit linked with this policy. Interestingly, customers can also avail care at home with the help of the benefits devised to facilitate non-facility care.
Shares of the life insurer have surged 47.7% in the past six months compared with the
industry’s 3.9% growth. Notably, the company currently carries a Zacks Rank #4 (Sell).
The latest move seems to be in line with the efforts of Lincoln National to launch long-term care planning solutions backed by its 30-year exceeding expertise in developing the same. In November 2020, the company launched life insurance products, with an emphasis on meeting customers’ long-term care expenses and offering living benefits.
The move reflects the dire need of people to gear up for long-term care planning at a young age and not wait till 50s or 60s amid escalating healthcare expenses. A survey of Lincoln National further substantiates the importance of such policies. Per the survey, 87% of Americans remain assured about their financial future with a long-term care solution. With its payment flexibilities, the MoneyGuard Market Advantage policy also seems to solve the affordability issue - another problem noted in the same survey.
With aggravated financial insecurities inflicted across the United States due to the COVID-19 pandemic, the policy seems to provide a sigh of relief to people concerned about some aspects of financial wellness.
Furthermore, Lincoln National has opted for digitization of the life insurance purchase process, which has made it increasingly convenient for customers to purchase policies from the comfort of their homes.
Stocks to Consider
Some better-ranked stocks in the insurance space include
Markel Corporation ( MKL Quick Quote MKL - Free Report) , Sun Life Financial Inc. ( SLF Quick Quote SLF - Free Report) and Cincinnati Financial Corporation ( CINF Quick Quote CINF - Free Report) . While Markel sports a Zacks Rank #1 (Strong Buy), Sun Life and Cincinnati Financial carry a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here
Markel, Sun Life and Cincinnati Financial have a trailing four-quarter earnings surprise of 164.00%, 18.19% and 4.10%, on average, respectively.
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