Lincln LifeGuarantee UL (23) life insurance prjectin Flexible Premium djustable Life Insurance Plicy Frm UL6 and state variatins theref. Prepared fr: Presented by: lec Smith 35 Mntfrd Ct Sugar Land, TX 77478 Phne: (73) 557-5579 This prduct is issued n plicy frm UL6 and state variatins by,. The Lincln Natinal Life Insurance Cmpany is nt authrized nr des it slicit business in the state f New Yrk. The cntractual bligatins are subject t the claims-paying ability f. Prduct and features are subject t state availability. Limitatins and exclusins may apply. This is a life insurance prjectin and nt a cntract. The terms f the plicy cnstitute the actual agreement f cverage. Lincln Financial Grup is the marketing name fr Lincln Natinal Crpratin and its affiliates. ffiliates are separately respnsible fr their wn financial and cntractual bligatins. LCN234-27938 6/3/25 9:42 M f 6
Lincln LifeGuarantee UL (23) Life Insurance Prjectin Flexible Premium djustable Life Insurance Presented by: lec Smith Understanding Yur Prjectin Fr: ge: $25, nnual BR Prduct Overview Lincln LifeGuarantee UL (23) prvides guaranteed life insurance prtectin thrugh the Cverage Prtectin Guarantee (CPG). The CPG prvides an alternate Cverage Prtectin Value (CPV) that, if psitive, will ensure that the cverage will cntinue even if the cash surrender value is insufficient t cver charges. The impact f the CPG is reflected in the prjectin in years where the death benefit remains in frce while the cash surrender value is zer. Nte that the length f time the Cverage Prtectin Guarantee can keep the plicy in frce may vary based n the fllwing factrs: Changes in premium frequency, timing r amunt. This includes: Premium payments paid mre r less frequently than the Planned Premium mde; Premium payments paid later than the mnth fllwing the Planned Premium due date r earlier than a mnth befre the Planned Premium due date; and Premium payments in lesser r greater amunts than the Planned Premium. Plicy changes such as lans, partial surrenders, increases r decreases in Specified munt and the additin r remval r Riders. Yu may make additinal premium payments t extend the length f the CPG at any time while the plicy is in frce. Hwever, if the plicy lapses lnger than 5 years (subject t state variatin) and is then reinstated, the CPG will be permanently lst. The CPG includes a Premium Relief Feature such that any premium received during the current plicy mnth is treated as thugh it was received at the beginning f the plicy mnth fr the purpse f calculating the CPG. The Guaranteed Values sectin shws guaranteed death benefit prtectin thrugh mnth f plicy year 24; please see the Guaranteed Values sectin f this prjectin fr further clarity. Please refer t yur Plicy and any riders fr mre detailed infrmatin n yur Cverage Prtectin Guarantee. If the plicy is still in frce at the insured's attained age 2, the CPG terminates, as it is n lnger necessary since n further charges are due and the plicy is guaranteed t cntinue in frce t the death f the insured. If there is a lan, lan interest will cntinue t accrue. Initial Cverage Infrmatin Underwriting, This prjectin assumes an initial underwriting class as shwn abve. The actual underwriting class will be assigned after the underwriting prcess is cmplete. Shuld the actual underwriting class differ frm what is assumed in this prjectin, including future changes, the premiums and/r values shuld vary frm thse cntained herein, and a revised prjectin will be prepared. Premiums Premium Timing We d nt credit premiums until received. Please review the Transactin Summary fr the timing f premiums used t create this prjectin. If premiums are nt received as assumed in this prjectin, the premium relief feature ntwithstanding, this will impact cash surrender values and may impact the length f the Cverage Prtectin Guarantee. These assumptins are illustrative nly and actual plicy perfrmance will vary t the extent these assumptins are met. ctual results may be mre r less favrable than thse shwn. Premium Outlay Yu may vary the amunt and timing f yur planned premium prvided the premium utlay is within guidelines set by the Internal Revenue Service (IRS). Please be aware that the timing f premium payments is critical t calculating and mnitring the plicy's cmpliance with IRS guidelines. Premium limits and requirements may change after issue if unscheduled changes are made r if planned changes are made at different times than riginally assumed. Changes t premium mde are never autmatic. Please als nte that changing t a mre frequent mde (such as Quarterly t Mnthly) will cause an increase in the annualized premium requirement in rder t prvide the same results. ny mdal changes shuld be verified by requesting an infrce prjectin. Glssary f Terms Plicy Value The sum f premiums paid less a premium expense charge, mnthly deductins, and withdrawals, plus interest. When prefaced by "net", the value is less lans. Surrender Value The plicy value less surrender charges and lans. Mnthly Deductins Deductins are made every mnth until the insured's attained age 2, regardless f whether r nt premiums are paid. Mnthly Deductins include cst f insurance, expense and administrative charges as well as the cst f any additinal benefits r riders. Infrmatin n these charges can be fund within yur plicy. LCN234-27938 State: TX 6/3/25 9:42 M 2 f 6
Lincln LifeGuarantee UL (23) Life Insurance Prjectin Flexible Premium djustable Life Insurance Presented by: lec Smith Guaranteed Values Fr: ge: $25, nnual BR Guaranteed 2.% Interest/Guaranteed Charges End f Year ge nnual Premium Outlay Key() Net Plicy Value Surrender Value Death Benefit 2 3 4 5 6 7 8 9 68 69 7 7 72 73 74 75 76 77,95 25, 25, 25, 25, 25, 25, 25, 25, 25, 25, 2 3 4 5 6 7 8 9 2 78 79 8 8 82 83 84 85 86 87 35,9 25, 25, 25, 25, 25, 25, 25, 25, 25, 25, 2 22 23 24 88 89 9 9 56,285 Lapsed Lapsed 25, 25, 25, Lapsed () Key: () nnual LCN234-27938 State: TX 6/3/25 9:42 M 3 f 6
Lincln LifeGuarantee UL (23) Life Insurance Prjectin Flexible Premium djustable Life Insurance Presented by: lec Smith Transactin Summary Fr: ge: $25, nnual BR This Transactin Summary is t help yu understand the timing and amunt f plicy changes and premiums assumed in this prjectin. If the actual timing and/r amunt f any transactin differs frm what is prjected, the ending values and benefit perids will mst likely be different than currently shwn in this prjectin. Nte that mst pst-issue plicy changes are nt autmatic and must be initiated by the Owner. Other changes such as specified amunt increases require additinal underwriting and apprval. Please nte that the requested transactins may have been mdified autmatically in an effrt t cmply with cntract and regulatry limitatins. Scheduled premiums are cnsidered nging unless therwise indicated. Year Mnth Prjected Transactins Details 24 Specified munt Underwriting Class Scheduled nnual Premium Scheduled Premium changed $25,. $. $. LCN234-27938 State: TX 6/3/25 9:42 M 4 f 6
Lincln LifeGuarantee UL (23) Life Insurance Prjectin Flexible Premium djustable Life Insurance Presented by: lec Smith Tax Infrmatin and Signature Page Fr: ge: $25, nnual BR Tax Infrmatin ssumed Tax Bracket: 28.% Mdified Endwment Cntract Testing: Initial TMR Seven-Pay Premium: $24,8.8 This presentatin under current tax cde interpretatin using the Guaranteed Values will nt becme a Mdified Endwment Cntract. Please cnsult a prfessinal tax advisr: e.g., attrney r accuntant fr further infrmatin. Definitin f Life Insurance The Cash Value ccumulatin Test applies t this plicy. Lincln Financial Grup affiliates, their distributrs, and their respective emplyees, representatives and/r insurance agents d nt prvide tax, accunting r legal advice. Clients shuld cnsult their wn independent advisr as t any tax, accunting r legal statements made herein. If this prjectin prvides fr premium amunt changes in future years, Lincln ffers a feature s that premium changes will be prcessed autmatically. Yu will receive advance ntificatin f these changes by letter apprximately 6 days prir t the plicy anniversary date in the year the change is prjected. These premium changes d nt prvide any implied r guaranteed cverage r plicy values and it is the respnsibility f the wner t review annual statements t ensure the plicy is funded as desired. Signature Sectin I understand that this prjectin is nt a cntract and that the terms f the plicy cnstitute the actual agreement f cverage. I have been advised t cnsult with my wn tax advisrs regarding the tax effects f the prjected plicy and als with respect t its valuatin. I further understand that the guarantees prvided by the Cverage Prtectin Guarantee are directly affected by the amunt and timing f premiums paid. I/We further agree and acknwledge the underwriting class set frth abve. Date Date X Prpsed Insured Signature X Prpsed Owner/pplicant Signature The infrmatin abve is NOT intended as legal r tax advice. Fr such advice, the taxpayer shuld cnsult his r her attrney r tax advisr. I certify that this prjectin has been presented t the applicant/wner. I have made n statements that are incnsistent with the prjectin. I have advised the applicant/wner t cnsult with tax advisrs regarding the tax effects f the prjected plicy. Date X Licensed gent/representative Signature LCN234-27938 State: TX 6/3/25 9:42 M 5 f 6
Lincln LifeGuarantee UL (23) Life Insurance Prjectin Flexible Premium djustable Life Insurance Presented by: lec Smith Yu MUST include the New Business Data when submitting the prjectin t Hme Office. The fllwing are initial values and d nt reflect future changes. New Business Data Prduct: Lincln LifeGuarantee UL (23) Unisex: N State: TX Underwriting: Full Underwriting First Insured Name: Gender: ge: Table Rating: Nne Flat Extra/: $ fr DEFR Type: Cash Value ccumulatin Test 7-Pay Premium: $24,8.8 MEC Status: Nt a MEC Owner Type: Insured Riders Selected ccelerated Death Benefit (BR): Yes Death Benefit Optin: Level Face munt: $25, nnual First Year Lump Sum Depsit: $ Mnthly Minimum Prem. mt.: $578.98 Guaranteed Interest Rate: 2.% Year Surrender Charge: $,787.5 CPG Initial M. Funding Prem: $578.98 Year Ttal Premiums Year Ttal Premiums Mnth Premium 24. 2 3 4 5 6 7 8 9 2. Sftware Versin: 6/3/25 9:42 M TP: 7,68. LCN234-27938 State: TX 6/3/25 9:42 M 6 f 6