MoneyGuard Application For Individual Life Insurance and Individual Long-Term Care

Transcription

1 The Lincoln National Life Insurance Company Service Office: PO Box 21008, Greensboro, NC (hereinafter referred to as the Company ) MoneyGuard Application For Individual Life Insurance and Individual Long-Term Care General Instructions for Completing the Application Please follow these instructions carefully. If you have any questions, please contact your Marketing Department for assistance before completing this application. Thank you for the opportunity to underwrite your business. Completing the Application Answer all questions on each page, and record each answer in complete detail either electronically or using black or blue ink if completing this in paper. If additional space is needed for details, use the Continuation of Details page to avoid an amendment to the application or include a blank piece of paper that will need to be amended. DO NOT USE correction fluid/tape or any similar item if completing this in paper. If you need to change answers draw a line through the mistake and have the change initialed by the Owner(s). Have the Proposed Insured(s) and Owner(s) read the application to confirm that all questions are answered accurately, sign and date the application. Please refer to product specifications for complete details and billing options. Authority No agent, broker, registered representative or medical examiner has the authority to make or modify any Company contract or to waive any of the Company s requirements. Temporary Insurance Agreement (TIA) If payment is made with the application, you must give a copy of the TIA to the Owner(s). Do not accept money orders or cash. Only checks payable to the Lincoln National Life Insurance Company noted at the top of the page are acceptable. If you are submitting applications for alternate or multiple applications, only one TIA per proposed insured may be in effect at one time. Please refer to the TIA for details. Payment with Application May Not Be Submitted if: 1. The Life insurance applied for exceeds $500,000 on any one life including optional benefit riders. 2. The question at the beginning of the TIA is answered YES or LEFT BLANK. If the Payment with Application Rules allow payment to be submitted, please follow these guidelines: 1. Submit payment with application only in the form of a currently dated check made payable to The Lincoln National Life Insurance Company noted at the top of the page. 2. The TIA must be signed and dated by the Proposed Insured(s) and Owner(s). The Licensed Agent, Broker or Registered Representative must also sign as Witness. 3. Give a copy of the TIA to the Owner(s) and submit the original with the application 4. Submit the payment with the application and write the amount of the payment in #2 of the Agreement and Acknowledgement Section. Special Instructions Question 4; enter Owner(s) information here, including the name of the trust and trustees. Information to assist in completing the Policy Information and Billing Information section will be located in the Projection of Values on the New Business Data Page. Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates.

2 The Lincoln National Life Insurance Company Service Office: PO Box 21008, Greensboro, NC (hereinafter referred to as the Company ) (Please give a copy of this notice to the Proposed Insured.) Important Notice Since you are applying for insurance, we would like you to know more about our underwriting process. The Underwriting Process All forms of insurance are based on the concept of risk-sharing. Underwriters seek to determine the level of risk represented by each applicant, and then assign that person to a group with similar risk characteristics. In this way, the risk potential can be spread among all policyholders within a given risk group, assuring that each assumes their fair share of the insurance cost. Underwriters collect and review risk factors such as age, occupation, physical condition, medical history, financial status and any hazardous avocations. The level of risk and premium for the amount of coverage requested is based on this information. In connection with this application for insurance, we may review your credit report or obtain or use a credit-based insurance score based on information contained in your report.this information is obtained from various sources such as, collection agencies, lenders, creditors, courts and utilities. We may use this information to decide whether to insure you or how much to charge. We may use a third party in connection with the development of your insurance score. You may request a copy of this report by writing to: The Lincoln National Life Insurance Company, PO Box 21008, Greensboro, NC Investigative Consumer Report As a part of our routine procedure for processing your initial application, we may request an investigative consumer report. The agency making the report may keep a copy of the report and disclose its contents to others for whom it performs similar services. The report typically includes information such as identity and residence verification, character, reputation, marital status, estimate of net worth and income, occupation, avocations, medical history, habits, mode of living and other personal characteristics. Additional information is usually obtained from several different sources. Confidential interviews may be conducted with a business, banks, accountants, or other financial advisors or other references as designated by the applicant. Public records are carefully reviewed. Past experience shows that information from investigative reports usually does not have an adverse effect on our underwriting decision. If it should, we will notify you in writing and identify the reporting agency. At that point, if you wish to do so, you may discuss the matter with the reporting agency. You have the right to be interviewed as part of any investigative consumer report that is completed. If you desire such an interview, please indicate this at the time your application is submitted. If you request it, we will supply the name, address and telephone number of the consumer reporting agency so you may obtain a copy of the report. Contestability We strongly urge you to review the completed application closely for accuracy. During the 2 year contestability period described in the policy, a claim may be denied if the application contains false statements or misrepresentations or fails to disclose material facts. In such a case, the policy could be void and coverage could be lost. Pharmacy Benefit Manager (Rx Database Search) We may request information on the medications you are taking provided by a Pharmacy Benefit Manager. If any adverse action is taken based on the information provided, we will notify you in writing and also provide you with the name, address and telephone number of the provider if you wish to obtain a copy of the pharmaceutical report. MIB, Inc. Information you provide regarding your insurability or claims will be treated as confidential except that the Company or its reinsurers may make a brief report of it to MIB, Inc. This is a not-for-profit membership organization of life insurance companies which operates an information exchange on behalf of its members. Upon request by another member insurance company to which you have applied for life or health insurance coverage or submitted a claim, MIB, Inc. will provide the information it may have in its file. Upon receipt of a request from you, MIB, Inc. will arrange disclosure of any information it may have in your file. If you question the accuracy of information in MIB, Inc. s file, you may contact MIB, Inc. at: 50 Braintree Hill Park, Suite 400, Braintree, MA You can reach MIB, Inc. by phone toll free at (866) Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. ICC17MGF /17

3 The Lincoln National Life Insurance Company Service Office: PO Box 21008, Greensboro, NC (hereinafter referred to as the Company ) MoneyGuard Application For Individual Life Insurance and Individual Long-Term Care - Part I Any person who knowingly presents a false statement in an application for insurance may be guilty of a criminal offense and subject to penalties under state law. Proposed Insured 1. a. / / / Legal Name: (First) (Middle) (Last) (Suffix) b. h Male h Female c. Date of Birth (mm/dd/yyyy): / / d. Home Address (Street): Apt. or Suite: e. Mailing Address (if different): Apt. or Suite: f. SSN: g. US Citizen: h Yes h No If No, Permanent Green Card: h Yes h No h. Driver s License Number: State: If none, check here: h i. j. Primary Phone Number: - - k. Cell Phone Number: - - l. Married, or in a civil union or domestic partnership legally recognized by your state? h Yes h No If Yes to 1l provide Spouse/Partner s Name (First/Last): / Policy Information 2. a. Plan of Insurance: b. Specified Amount: $ c. Long-Term Care Acceleration of Benefits Rider Duration: d. Long-Term Care Extension of Benefits Rider Duration: e. Optional Inflation Protection: See Inflation Protection Coverage section on page 5 of 5. f. Value Protection Rider/Return of Premium: g. Other Benefits/Riders/Options: Billing Information 3. a. Premium Amount: $ h Single Premium h Annual h Semi-Annual h Quarterly h Monthly EFT h Other (include List Bill Number if applicable): b. Source of Premium (Income, savings, replacement, inheritance, etc.): Owner Information (If left blank, Proposed Insured will be the Owner.) Select Owner Type: 4. a. h Individual Owner: / / / h Trust/Entity Owner: Trustee/Officer 1 & Trustee/Officer 2: b. Address (Street): Apt. or Suite: c. Date of Birth/Trust Date (mm/dd/yyyy): / / d. Primary Phone Number: - - e. SSN/TIN: f. Cell Phone Number: - - g. Relationship to Proposed Insured: h. Owner s Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Page 1 of 5

4 Beneficiary Information (Unless otherwise stated in #8 Special Instructions, if multiple beneficiaries are named in a class (Primary, Contingent), the proceeds are to be paid equally to the survivor or survivors, if any, in the class.) Beneficiary in #5 is Primary; select Beneficiary Type. Select Primary (P) or Contingent (C) for other beneficiaries completed. 5. a. h Individual Beneficiary: / / / h Trust/Entity: Trustee/Officer: / / / b. Address (Street): Apt. or Suite: c. Relationship to Proposed Insured: d. Date of Birth/Trust Date (mm/dd/yyyy): / / e. SSN/TIN: f. Phone Number: a. h P h C Name: / / / h Entity: Officer: / / / b. Address (Street): Apt. or Suite: c. Relationship to Proposed Insured: d. Date of Birth (mm/dd/yyyy): / / e. SSN/TIN: f. Phone Number: a. h P h C Name: / / / h Entity: Officer: / / / b. Address (Street): Apt. or Suite: c. Relationship to Proposed Insured: d. Date of Birth (mm/dd/yyyy): / / e. SSN/TIN: f. Phone Number: Special Instructions (If proceeds are not to be paid equally indicate here. Dollar amounts are not accepted; percentages must total to 100%): Payor Information Payor will default to the Owner if nothing is indicated for #9. (Only complete 9b through 9e if Other is checked for 9a.) 9. a. Choose one: h Proposed Insured h Owner h Beneficiary in #5 h Beneficiary in #6 h Beneficiary in #7 h Other If Other b. Payor Name (Select One): h Individual: / / / h Entity: c. Payor Address (Street): Apt. or Suite: d. SSN/TIN: e. Relationship to Proposed Insured: Page 2 of 5

5 Existing and Pending Insurance Information 10. a. Are you considering stopping premium payments, surrendering, replacing, lapsing, or assigning your existing life insurance policies or annuities? (If Yes, provide details in the grid below for the company, face amount, policy number, issue date and if a 1035 Exchange is planned.) b. Are you considering reducing your benefits or borrowing funds from your existing life policies or annuities to pay premiums on this policy if issued? (If Yes, provide details in the grid below for the company, face amount, policy number, issue date.) Company Face Amount (Life Only) Policy Number Issue Date (mm/yyyy) Check here if 1035 Exchange $ h $ h $ h c. Other than listed above, do you have any other existing life insurance policies or annuity contracts in force? 11. a. Currently, or within the past 12 months, have you had any Long-Term Care policies, a chronic illness rider or a Long-Term Care rider on either a life insurance policy or annuity contract in force or pending? (If Yes, provide details below for the company, issue date, Long-Term Care daily maximum benefit and if it is in force or applied for.) b. Will the policy applied for replace any medical, health or Long-Term Care insurance contract or rider currently in force with this or any other company? (If Yes, provide details below for the company, issue date, and Long-Term Care daily maximum benefit.) c. Has any Long-Term Care insurance contract or rider lapsed, been surrendered or otherwise terminated in the past 24 months? (If Yes, provide details below for the company, issue date, date of lapse, surrender or termination, and Long-Term Care daily maximum benefit.) 12. Are you currently covered by Medicaid? Protection Against Unintended Lapse (For additional protection against unintended lapse, you may designate a Third Party below other than your Agent/Financial Planner. The Agent/Financial Planner will automatically receive any such notices.) I, the Applicant/Owner, understand that I have the right to designate at least one person other than myself to receive notice of lapse or termination of this insurance policy for nonpayment of premium. I understand that notice will not be given until 30 days after a premium is due and unpaid. I also understand that I will be given the opportunity to change this written designation at any time. My selection is as follows: h I elect NOT to designate another person to receive notice of lapse or termination. h I designate the person(s) listed below to receive copies of any notice of lapse or termination. Third Party Name: / / / Home Address (Street): Apt. or Suite: (City/State/ZIP): / / Phone Number: - - Service Office Endorsements (For Company Use Only. We will attach additional documentation as needed.) Page 3 of 5

6 Agreement and Acknowledgement I, the Owner, declare that my tax identification or social security number as shown is correct. I also certify that I am not subject to backup withholding. I have received an Outline of Coverage, Long-Term Care Insurance Personal Worksheet, Things You Should Know Before You Buy Long-Term Care Insurance, Life Insurance Buyers Guide, and Shopper s Guide to Long-Term Care Insurance. The Undersigned declares that: 1. This Application consists of: a) MoneyGuard Application for Individual Life Insurance and Individual Long-Term Care - Part I (Application); b) MoneyGuard Application for Medical and Long-Term Care - Part II; c) MoneyGuard Medical Long-Term Care Supplement; d) any amendments to the application(s) attached thereto; and e) any other supplements, all of which are required by the Company for the plan, amount and benefits applied for. 2. The Company will have no liability (except as provided in the MoneyGuard Temporary Life Insurance Agreement if advance payment has been made and acknowledged below and such Agreement issued) under this application unless and until: a) it has been received and approved by the Company at its Service Office; b) the policy has been issued and delivered to the policyowner; c) the first premium has been paid to and accepted by the Company. I have paid $ to the Agent/Financial Planner in exchange for the MoneyGuard Temporary Life Insurance Agreement, and I acknowledge that I fully understand and accept its terms. 3. No Agent, Financial Planner or medical examiner has the authority to make or modify any Company contract or to waive any of the Company s requirements. 4. I HAVE READ, or have had read to me, the completed Application before signing below. All statements and answers in this Application are correctly recorded, and are full, complete and true to the best of my knowledge and belief. I confirm that upon receipt of the contract I will review the answers recorded on the Application. I will notify the Company immediately if any information in the Application is incorrect. Caution: If your answers on this Application are incorrect or untrue, the Company may have the right to deny benefits or rescind coverage under the policy and any riders attached to it. 5. For employer owned life insurance policies, the Owner hereby acknowledges its sole responsibility for ensuring that it complies with all legal and regulatory requirements related to life insurance it purchases on its employees, including appropriate disclosure to each employee whose life is insured under such a life insurance policy. 6. For policies held in trust by one or more trustees, the undersigned certify and acknowledge the following. The trust arrangement is identified by name and date, the trust is in effect, and the trustees named in this application are the trustees for the named trust. The trustees signing this application have the power and authority to act and exercise all ownership rights under the policy, and the Company may rely solely upon the signatures of the trustees regarding any policy options, privileges or benefits. Any amounts paid to the trustees by the Company according to the policy shall fully discharge the Company with respect to those amounts. The Company shall have no obligation to inquire into the terms of the trust or to see to the use or application of any amounts paid to the trustees. The Company shall not be held liable for any party s non-compliance with the terms of the trust. 7. I have been advised to consult with my own tax advisors regarding the tax effects inherent in the plan of insurance for which I am applying. 8. Corrections, additions or changes to this application may be made by the Company. Any such changes will be shown under Service Office Endorsements. No change will be made in classification (including age at issue), plan, amount, or benefits unless agreed to in writing by the Applicant. State Disclosure Any person who knowingly presents a false statement in an application for insurance may be guilty of a criminal offense and subject to penalties under state law. Page 4 of 5

7 Authorization I, the Proposed Insured, authorize any medical professional, hospital or other medical institution, Pharmacy Benefit Manager, insurer, MIB, Inc., or any other person or organization that has any records or knowledge of me or my physical or mental health, employment, finances, transactions or my insurability to disclose that information to the Company, its reinsurers, or any other party acting on the Company s behalf. I authorize the Company or its reinsurer to make a brief report of my protected health information to MIB, Inc. I authorize the Company to disclose information related to my insurability to other insurers to whom I may apply for coverage. Once this authorization is signed it shall be valid as permitted by applicable law in the state where the policy is issued but not to exceed a time period of 24 months. A photographic copy of this authorization shall be as valid as the original. I understand that I may revoke this authorization at any time by written notification to the Company; however, any action taken prior to notification will not be affected. The purpose of this authorization is to allow the Company to determine eligibility for Life and Long-Term Care coverage or a claim for benefits under a policy. Each of the undersigned declares that: I/We acknowledge receipt of the Privacy Notice, the Privacy Notice for Protected Health Information and the Important Notice containing the Investigative Consumer Report and MIB, Inc. information. Inflation Protection Coverage I, the Applicant/Owner, have reviewed the Outline of Coverage and the charts that compare the benefits and premiums of a rider or riders with and without Optional Inflation Protection. If I am approved for the policy I elect the following (Select one): h A rider or riders with default Compound Increases at 5%. h I hereby REJECT default Compound Increases at 5% and apply for Optional Inflation Protection with a Compound Increase amount of %. h I hereby REJECT all options for Optional Inflation Protection and will be issued a contract without this benefit. Signatory Section Caution: If your answers on this application are incorrect or untrue, the Company may have the right to deny benefits or rescind coverage under the policy and any riders attached to it. Signed in: / / (State) Date (MM/DD/YYYY) Signature of Proposed Insured Signature of Applicant/Owner/Trustee (If other than Proposed Insured) (Provide Title if owned by a Trust or a Corporation) To Be Completed By Agent/Financial Planner Only (All questions are required to be answered.) (i) Does the Applicant have any existing life insurance policies or annuities? (ii) Do you know or have you any reason to believe that replacement of life insurance policies or annuities is involved? If a replacement is involved, I certify that only Company approved sales materials were used in this sale and that copies of all sales materials were left with the Applicant. (iii) List all Long-Term Care or Health Insurance that: 1) You have sold to the Proposed Insured that is still in force. 2) You have sold to the Proposed Insured in the last 5 years that is no longer in force. Company Policy Number Year of Issue h In Force h No Longer In Force h In Force h No Longer In Force I declare that I have accurately answered all questions contained in this section. I declare that I have provided the Proposed Insured with the Privacy Practices Notice, the Privacy Notice for Protected Health Information as well as the Important Notice. I declare that I have provided each Owner with a copy of the Privacy Practices Notice. Signature of Licensed Agent, Financial Planner or Registered Representative Name of Licensed Agent, Financial Planner or Registered Representative (Please Print) Page 5 of 5

8 (Completed Form Must Accompany Application for Life Insurance) General Information The Lincoln National Life Insurance Company PO Box 21008, Greensboro, NC (hereinafter referred to as the Company ) MoneyGuard Agent s Report 1. (a) / / / Proposed Insured: (First) (Middle) (Last) (Suffix) (b) How long have you known the Proposed Insured? 2. Are you related to the Proposed Insured? h Yes h No If Yes, Give details: 3. Do the Proposed Insured and Owner(s) read and understand the English Language? h Yes h No If No, how were the application and other solicitation forms completed? Agent Information (To ensure proper payment of commissions, please fully complete the following sections. Incomplete or incorrect information may delay compensation payment.) 4. Name of Affiliated Agency: 5. Have you recently submitted paperwork for a change in reporting hierarchy or commission set-up? h Yes h No If Yes please describe the change requested: 6. Agents/Financial Advisors who participated in this application: First Name Last Name SSN/TIN Agent Number or Sa/Pc Code Split % Agent Certification I declare that I have reviewed with the Proposed Insured each question on the application. For those questions asked by me, the answers have been recorded exactly as stated. For any answers provided by the Proposed Insured during a telephone interview and recorded by a third party, I have confirmed that those answers as contained in the application were accurately recorded. I know of nothing affecting the insurability of the Proposed Insured which is not fully recorded in this application. I have asked my client if there is any intention to replace, surrender, borrow against, sell or use any portion of any existing life insurance policy or annuity to finance any portion of the policy being applied for and know of no other replacement than that indicated within the application. If a replacement is intended, I have given the appropriate replacement forms to the client at the time of application. I declare that if replacement is involved, I certify that only company approved sales materials were used in this sale and that copies of all sales materials were left with the applicant. I declare I have not been involved in any recommendation regarding the possible sale or assignment of this policy to a life settlement, viatical or other secondary market provider. If otherwise, please explain: I declare that I have verified that all life insurance coverage in force, or in the process of being applied for, on the Proposed Insured(s) has been disclosed on this application, including any coverage that has been sold or is in the process of being sold to a life settlement, viatical or other secondary market provider. I declare, to the best of my knowledge, the source of funding for this policy does not include: (1) a non-recourse premium financing loan; or (2) any arrangement, other than a premium financing loan, which involves any person or entity with an interest in the potential for earnings based on the provision of funding for the policy. I have reviewed and I understand Lincoln Financial Group s Position Regarding Marijuana-Related Businesses as published in form GB I declare that I have accurately answered all questions contained in the Agent s Report in connection with this application. Signature of Licensed Agent, Financial Planner or Registered Representative / / Date (MM/DD/YYYY) Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Page 1 of 1 MG /17