Lincoln Financial Aims to Increase MoneyGuard Life-LTC Hybrid Sales

Lincoln Financial likes its MoneyGuard life insurance products, company executives said in a recent interview.

The MoneyGuard policies are permanent life policies that protect the insureds against long-term care risk as well as protection against mortality risk. The products have been on the market since 1987.

Lincoln recently reported a $2.6 billion net loss for the third quarter. Ellen Cooper, the CEO, said the company would trim capital needs by tilting toward sales of products without significant benefits guarantees.

Heather Deichler, head of MoneyGuard business management.

Heather Deichler, head of MoneyGuard business management, said the shift will not affect the MoneyGuard products.

“We’re committed to continuing to grow our sales,” Deichler said.

MoneyGuard “has been a key part of what we do,” she added. “We believe it’s an important part of Lincoln.”

Bill Nash, head of MoneyGuard distribution, said the 2021 launch of a MoneyGuard product with LTC benefits tied to a variable universal life insurance policy has increased growth-oriented customers’ interest in LTC planning.

Bill Nash, head of MoneyGuard distribution.

Other conversation starters include the COVID-19 pandemic and the fact that more agents, advisors and distribution company executives are watching their own loved ones age, he said.