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Lincoln Financial Long-Term Care Insurance

4.55 Stars (7 Reviews)
Updated: January 20, 2023
By: Jonathan Trout
Jonathan Trout
Content Manager
Jonathan is a former product and content manager for Retirement Living. His background spans sales/marketing, finance, and telecommunications. Jonathan’s expertise in consumer wellness and research-backed data stories helped educate seniors on financial planning, retirement, and community resources. Jonathan graduated from Oklahoma State University with a B.S. in Environmental Sociology.
Content Manager
Edited By: Lauren Hamer
Lauren Hamer
Sr. Editor
Bringing more than a decade of editorial experience to Retirement Living, Lauren focuses on reporting senior-related issues, including retirement planning, finance, consumer protection, and health and wellness. Lauren has edited consumer content for Credible, Angi, Slickdeals, Jobs for the Future, and more.
Sr. Editor

Lincoln Financial's long-term care insurance, MoneyGuard II, is a solution to paying premiums for coverage you may never need. Simply put, if you don't need long-term care, MoneyGuard II pays a lump sum to your loved ones when you die. You get long-term care insurance to protect your retirement assets, and you can extend that financial security to your family.

Editorial Breakdown

Product Options 4.4 Stars
Availability 4.3 Stars
Policy Features 4.5 Stars
Customer Service 4 Stars

Overall Rating 4.3 Stars

Bottom Line

Lincoln Financial offers long-term care options including a hybrid long-term care insurance policy. A Lincoln Financial hybrid policy ensures a death benefit for your heirs and tax-free long-term care reimbursement.

Lincoln Financial Long-Term Care Insurance Review

Lincoln Financial Group is part of Lincoln National Corporation. The company offers life and group protection insurance, annuities, retirement planning services and long-term care insurance. Lincoln Financial opened for business in 1905 and grew into a Fortune 500 company and the fourth largest life and health insurer in the United States.

Lincoln MoneyGuard II long-term care insurance is a hybrid universal life insurance policy combined with long-term care benefits. The advantage of this hybrid long-term care insurance is the payout provided if the policyholder doesn’t use any or all long-term care benefits.


  • 98 percent of claims paid within three days
  • No medical exam needed
  • Residual death benefit or return of premium options
  • Federally tax-qualified


  • Hybrid plans generally cost more than long-term care-only plans

Lincoln Financial Long-Term Care Insurance Options

Lincoln Financial’s MoneyGuard II long-term care insurance is a hybrid policy, so a life insurance payout is available to your benefactors if you never use your long-term care benefits. Hybrid long-term care insurance is a good fit for people who are concerned about getting no return on their long-term care insurance premiums if they remain healthy until death.

Flexible Long-Term Care Options

Lincoln MoneyGuard II long-term care insurance covers a variety of care:

MoneyGuard II also pays for caregiver training, such as for a loved one who may provide your care.

Universal Life Benefit Long-Term Care Coverage Options

Lincoln MoneyGuard II gives consumers several options for using plan benefits in addition to long-term care. Consumers choose from:

  • Tax-free long-term care reimbursements
  • Death benefit, reduced by any loans or disbursements, for your heirs
  • Premium return of 80 or 100 percent, subject to vesting

Like universal life insurance, the death benefit grows over time according to policy terms and is affected by investment returns, loan disbursements, premium payment status and rate increases.

Lincoln Financial Inflation Protection Option for Long-Term Care

The Journal of the American Medical Association (JAMA) confirms what we all know: medical costs are increasing quickly. A 2017 JAMA study shows an annual 4 percent increase in health care costs, outpacing U.S. economic growth of 2.4 percent between 1995 and 2015. What may seem like reasonable long-term care insurance coverage today may not pay expenses as expected 15 years down the road.

Lincoln MoneyGuard II has optional inflation protection riders to ensure adequate long-term care coverage in the years to come. You get a choice of 3 percent or 5 percent compound interest to hedge the value of your policy against long-term care price inflation. Inflation Protection is optional with an additional associated cost for adding the rider. However, it’s worth considering given rising healthcare expenses.

Below, we’ve listed some important options you choose from with a Lincoln MoneyGuard II long-term care insurance policy. The LABR in the chart refers to a Long-Term Care Acceleration of Benefits Rider. A LABR allows the insurance to pay for covered long-term care costs using part of the death benefit associated with the policy. The surrender charge on the chart is a fee charged for canceling your plan.

Lincoln Financial MoneyGuard II
Long-Term Care Insurance Options
Benefit Option 1 Option 2
Coverage $50,000 minimum – $500,000 with 2-year LABR
– $750,000 with 3-year LABR
Benefit Length 2-year minimum 7-year maximum with LABR riders
Premium Return 80% after all premiums paid 100% starting in the fifth year after all premiums paid
Surrender Charge Phases out over 10 years Phases out over 10 years
Length of Coverage Choose between 2 and 7 years, including benefit acceleration riders. Subject to policy maximums. Choose between 2 and 7 years, including benefit acceleration riders. Subject to policy maximums.

Concierge Care with Lincoln Financial Long-Term Care Insurance

Lincoln Concierge Care Coordination is available to all MoneyGuard II policyholders to assist with finding solutions and providers in your area to fit your needs. The concierge will help you file claims and review your policy, so you understand your coverage. Lincoln Concierge Care Coordination also provides help online with research, needs assessment, and a social network to interact with others facing long-term care decisions.

How to Buy Lincoln MoneyGuard II Long-Term Care Insurance

Lincoln Financial rolled out a streamlined application process in August 2018 for Lincoln MoneyGuard II long-term care insurance. Part of the new application allows customers to complete medical information over the phone with a Lincoln Financial representative or complete forms on paper in person with an agent. Forms used to apply for MoneyGuard II long-term care insurance adjust to the consumer to avoid unneeded questions and reduce interview time.

Call Lincoln Financial directly for a referral to a local adviser or use the “Find an Advisor” option on the website. Ask about MoneyGuard II discounts for insured couples, either married or domestic partners.

Lincoln financial

Source: Lincoln Financial

Lincoln Financial Complaints

Lincoln Financial gets an “A+” rating from the Better Business Bureau with 51 complaints closed in the past three years. Complaints addressed disability insurance and not Lincoln Financial long-term care insurance. The BBB notes complaints to state regulators about Lincoln Financial are lower than average for financial services and insurance companies of the same size. The company’s financial strength ratings are strong: AM Best (A+ Superior), Standard and Poor’s (AA- Very Strong), Fitch (A+ Strong), and Moody’s (A1 Good).

Lincoln Financial Long-Term Care Insurance Q&A

  • Do I need a medical exam to purchase Lincoln Financial long-term care insurance?
    No. Lincoln Financial uses streamlined underwriting which requires no medical exam or lab tests to verify eligibility.

  • How long is Lincoln MoneyGuard II’s long-term care insurance elimination period?
    One of the best features from Lincoln Financial long-term care insurance is no elimination period. Benefits start when you become eligible, which is at the point you need help with at least two activities of daily living (ADLs) for 90 days.

  • Lincoln Financial long-term care insurance is available to people of what ages?
    People between the ages of 40 and 79 are welcome to apply for Lincoln MoneyGuard II long-term care insurance.

  • Can I qualify for Lincoln MoneyGuard II insurance if I have a pre-existing condition?
    Disclose your pre-existing conditions when you apply for Lincoln Financial long-term care insurance to learn about benefits available for your circumstances with a MoneyGuard II plan.

  • Does Lincoln MoneyGuard II long-term care insurance cover care for Alzheimer’s disease or dementia?
    Lincoln MoneyGuard II pays for care required for chronic illness due to Alzheimer’s disease and other cognitive conditions.


Costs for long-term care are increasing and represent a weighty concern for retirees. The risk of needing long-term care combined with the significant expense puts seniors at risk for losing their life savings. While there are pros and cons to long-term care insurance to consider, many people benefit from the coverage. Lincoln Financial’s MoneyGuard II helps you be prepared for your future long-term care needs with the option of a death benefit or premium returns if you don’t need to use the benefits.

7 Lincoln Financial Reviews

Write Review
1 Star

August 15 2023 10:17PM

My mother entered assisted living with additional services for ADL in mid-April. I have had two separate facilities finally approved for her LTC policy with constant phone calls and varying stories on what they have and have not received.

I have tried for 4 months to change the phone number required for online access as Lincoln used a home phone number which is no longer active. I've had my poor elderly mother on the phone with their "online department", on hold for 40 minutes, trying to get this changed.

Promises to change never result in that happening. US mail came to her old home address long after the address was changed. Every correspondence is received at least 2 weeks past the date on the correspondence.

Several times that correspondence references that Lincoln will no longer consider "paying" claims. She finished the elimination period a month ago, but two separate facilities submitting invoices and their Continuous Monthly Resident forms have failed to satisfy Lincoln as legitimate submissions.

The reasons for denial often change. I talk to nice people on the phone who promise results and yet nothing changes. Their systems appear to be siloed, antiquated and my experiences have led me to believe that the primary goal of Lincoln is to frustrate the policy holder until they no longer try. Avoid these hybrid policies and avoid Lincoln Financial.

Marcie S.
Auburn, AL
1 Star

July 11 2023 7:38PM

We really liked this company at first, until they changed their whole practice to align with "industry standards".

Beginning in January 2023, they came out with an atrocious weekly claim form where we have to numerically rate the ADLs each day, and they determine which ADLs were covered with a rating of 3 or more, and their approval process if now horrible.

A certified caregiver is not required for our policy. We have a wonderful caring person that cares for my husband with Parkinsons. Their review to determine which activities of daily living my husband qualifies for is now done over the phone with an RN.

It doesn't appear to matter what the experts say - his Movement Disorder Specialist - Neurologist. They think their claims personnel and over the phone RN know more. We have not received reimbursement for 5 months due to this process change.

Even though we funded the policy, I guess they want to hang on to our money longer! A letter to the CEO accomplished basically nothing, although I was encouraged initially when I heard from a staff attorney.

They just forwarded it to a claims supervisor so they could reiterate their "position". Knowing what I know now, I would never have purchased this policy! I suggest you avoid them as well.

Carol T.
Sedona, AZ
1 Star

March 01 2023 4:29AM

After doing all the doctor appts of getting LFG LTC paperwork filled out, all paperwork was emailed & hardcopy post office mailed to their LFG LTC dept, being told my uncle would have to pay out of pocket for the first 90 days and then LFG LTC would then pick up and pay at least 6 weeks, but they did not start paying until 5 1/2 months where he was paying, they finally started paying his claims but only went back 2 1/2 months, this was after me, my 84 year old Uncles' niece/caretaker making literally 15-20 phone calls, never getting some Lincoln Rep, so I would have to re-explain his situation and what was going on.

Lincoln has never got his reimbursements caught up. Then my uncle was admitted into 2 hospitals 1 afternoon/evening on Dec 12, 2022 from a fall at his assisted living apartment (which was 5th fall in 2 weeks). At the hospital that evening we found out my Uncle had a baseball size brain tumor and would need brain surgery.

He elected to have the Surgery, which was done on 12/19/22, my uncle was in the hospital this entire time starting 12/12/22 thru 12/28/22, then was put at an Acute Therapy Hospital for physical & occupational therapy from 12/28/22 to 1/12/23.

When my uncle received his reimbursement check on 1/13/23 for Dec 2022 rent, they shorted him over $3500 for that month. I called right away & explained he had been admitted to an ER at 2 separate hospitals on 12/12/22 & diagnosed with prostate cancer that had traveled to his brain now with a baseball size tumor that needed immediate attention.

The LFG LTC Rep explained that had no way to know where he was or that he had been admitted in a hospital, I explained in detail my Uncles situation and all the perils he had just went through. Rep explained they would have to do an extensive research to see if all this was true.

After 2 weeks, I had not heard from them, so I call, was on hold over 40 minutes, (different) Rep came on line, I asked about his re-submission of Dec 2022's claim. Rep let me know that a couple phone calls were made, but the Assisted Living had to re-submit the Dec 2022 invoice for them to consider to reimburse the 19 days they had shorted him.

I asked what else do we do, was put back on hold for 20 more mins, then Rep comes back & tells me the Dec 2022 invoice has to be submitted by the facility and each day he was in the hospital, the date has to be marked "Bed Held" for LFG LTC to even consider reimbursement.

I contacted the facility & they got right on it & edited the Dec 2022 invoice and re-faxed it to LFG LTC. We waited 2 more weeks, I called back to LFG LTC, this time was told it was still under research and my uncle might get paid in 10 business days.

Waited another 2 weeks, called LFG LTC again & the (different) Rep did not know what I was talking about, so I had to re-explain my Uncles entire situation, now we are almost to the end of February and they shorted his in Feb 2023 for Jan 2023 paying only 18 days. This is very upsetting to my uncle and to me trying to retrieve his rent they owe him.

After numerous calls in the last 2 weeks & each Rep talking in circles & not understanding any of the situation or what all has gone on, finally spoke to a (different) Rep yesterday and she explained the LFG LTC does NOT pay reimbursement claims to assisted living rent while patient/resident is in a hospital.

My Uncle's rent is on him out of his pocket. Only way LFG LTC will pay is my Uncle lives in a Nursing Home. At the facility where my Uncle resides, there are 3 separate buildings, independent living, assisted living (residents needing different levels of help with everyday living) and Memory Care/Dementia unit (dementia or bedridden residents) that need Full help.

My Uncle's financial advisor advised him to purchase this policy over 20 years ago with a $100,000 start up plan and now when my uncle needs the policy, LFG does not want to pay his claims.

They are the most awful company & we would not recommend this company to anyone, they prey on elderly people and take their life savings and provide nothing back but headaches & heartaches.

Sheila W.
El Campo, TX
1 Star

December 23 2022 3:35AM

My father purchased a Lincoln Financial Long Term Care policy 30 years ago, with the hope that having it would eliminate burdens placed on his caregivers. His policy was designed to pay for care when he was in an assisted living facility.

Three years ago, he was in an assisted living facility, and he needed to be unable to do two of six possible living things in order to get coverage. We quickly found out "the rest of the story from Lincoln Financial".

After going to each of his doctors and getting the required proofs in writing for each of his maladies, we submitted them to LFG and found that his $8500 dollars per month assisted living cost would only be covered for $5100.

Then the kicker was LFG said he didn't qualify for coverage since he was not totally disabled under their terms and definitions. I would never purchase a policy from Lincoln Financial for any long term care or insurance needs. They have cheated my father for his coverage that he expected to get.

I now take care of him myself, and that of course is not covered. Save your money, go to Mass Mutual for insurance and the Long Term Care. Much better company. If you have any questions, please call me directly at **, as I do not want any other potential customers to have the same problem that I ran into.

When they promise to pay any claim, I guarantee you that there is "fine print" which allows them not to pay you. A very dishonest company by any measure. David ** (real name, real phone number). Please call me.

David L.
Grand Blanc, MI
1 Star

July 04 2022 6:06PM

I am months into filing a claim for my aunt who is in a nursing home. They have consistently stated that they don't have the correct paperwork after it has been submitted multiple times. My POA was requested and sent for the fourth time last week.

Sometimes they ask for hard copies, sometimes uploaded to a secure portal, sometimes needs a recent notary, etc. The latest issue is stating that the summary of care does not match the room number where she lives.

She did move rooms, but the nursing home has submitted paperwork showing both rooms. I am able to speak with representatives, but the conversations feel like doubletalk. I can't get a definitive next-step by the time the call is over.

She paid for this long-term care insurance for decades, but can't finalize a claim when she needs it.

John F.
Glasgow, MT
1 Star

June 15 2022 2:24PM

It sometimes takes 5-6 months to get them to pay a long term care policy claim. I have to call at least 6 times to get them to pay a claim. They say they don't receive their required paperwork after faxing several times and emailing it to them.

I believe it shouldn't be that hard to receive and file the paperwork they ask for. I did not have any trouble last year, but this year, 2022 they changed to another outside resource for claims that is not efficient at all.

I am about ready to call an attorney for this harassment of trying to get my mom's claims paid. Families should not have to go through this in order to be paid what is rightly theirs in their policy they purchased.

Mary W.
Lutz, FL
1 Star

December 23 2020 3:12PM

My husband and I are both academics. He is a university professor & I am a K-12 special ed teacher. He signed up thru his employer for short-term disability when we moved to FL in 1994. He wanted to make sure our family was secure if anything happened to him.

He also encouraged me to sign up thru my district. Thousands of $dollars later I am still jumping thru hoops & rude & uncaring caseworkers, post surgery. Between 8/18/20-11/18/20, I have received $1200 of the $3500/mo. benefit package I selected.

Of course, there is always a "big insurance" no payment contingency. Basically, a 14-day deductible of no payments before you receive your 1st benefit payment.

This isn't welfare folks. We paid & invested thousands over a quarter of a century to insure we would be secure during a crisis. $Money, certainly not well spent nor invested. In hindsight, we would never opt for this co. Take those $thousands & pay yourself 1st.

This is not medical insurance & secure insurance. Dad always said, "Big insurance don't get this rich by paying legitimate customer claims."

Now, I have had to w/d from my 401K, month before the 59 1/2 no penalty age, to survive during my post surgical recovery during a global pandemic. We are blessed & thankful that we have not had to suffer covid. I cannot imagine going thru this w/a covid diagnoses.

For decades, Lincoln Financial has been receiving $Billions of our tax $dollars thru bailout & TARP & still they baulk when it comes to customer claims.

Instead, plunge all those $thousands into your 401K w/a real investment co. not affiliated with "big insurance" & you will never jump thru paperwork hoops, missing faxes, delay tactics, deductibles, robotic case worker responses, weeks of unreturned calls, scripted responses, auto email responses, reduced benefits, or nonpayment of benefits.

Dorcas D.
Orlando, FL