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Lincoln Financial MoneyGuard: 2024 Long-Term Care Insurance Review

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Lincoln Financial Group offers three long-term care insurance policies:

  1. MoneyGuard
  2. MoneyGuard II
  3. MoneyGuard III

All three of these products are hybrid long-term care insurance/life insurance products that pay a death benefit regardless of whether long-term care benefits are used.

Lincoln MoneyGuard was the company’s first long-term care (LTC) insurance policy and is still briefly described on the company website. However, its MoneyGuard II and MoneyGuard III policies are more widely known because of being newer, particularly MoneyGuard III.

In this company review, we'll cover:

Read on to learn more.

Lincoln long-term care insurance features

MoneyGuard (Introduced in 2011)

  • No waiting period
  • Benefit period up to 7 years
  • Inflation protection option: 3% or 5%
  • Caregiver training
  • Case management
  • International benefits available
  • Universal life insurance death benefit with a guaranteed minimum payout even if long-term care benefits have been paid out
  • Tax-free long-term care and life insurance benefits
  • Single-payment premium available

MoneyGuard II (Introduced in 2014)

  • Benefits are 100% guaranteed and not subject to market risk, interest rate risk, or premium increases
  • 3% to 5% inflation protection option
  • Simplified underwriting: short application, no medical exam or lab tests required
  • Single-payment option available
  • No elimination period for any type of care
  • International benefits available
  • Couples discount

MoneyGuard III (Introduced in 2019)

  • No-lapse guarantee
  • Return of premium option
  • No waiting period
  • Terminal illness rider
  • International benefits
  • Inflation protection option
  • Guaranteed premiums
  • Single premium payment is available
  • Couples discount
  • Issued up to age 80
  • Guaranteed life insurance benefit, regardless if LTC is used

Learn More: How Much Does Long-Term Care Insurance Cost?

What does Lincoln MoneyGuard III cover?

Adult Day Care: Social and health-related services by a state or a licensed and certified program in a group setting.

Alternative Care Services: These services are an alternative to services otherwise covered and are prescribed by a plan of care by a licensed healthcare practitioner.

Assisted Living Facility: A residential care facility that provides ongoing assistance.

Bed Reservation Benefit: Lincoln MoneyGuard III will pay for bed reservations for up to 30 days per calendar year.

Care Planning Services: Your policy will reimburse you for care planning services a care planning agency provides.

Caregiver Training: A lifetime maximum of up to $500 to train a primary caregiver.

Home Health Care: Services provided by a licensed home health care agency in your home.

Hospice: Provides benefits if diagnosed with a terminal illness resulting in a life expectancy of 6 months or less.

Non-Continual Services: Services received on a one-time basis, such as durable medical equipment or home modifications to your residence.

Nursing Home: A licensed facility that provides continual nursing care.

Respite Care: Short-term care services are provided to relieve your primary caregiver.

Transitional Care Assistance Benefit: This covered service may be used in combination with other forms of care and help transition from informal to formal care. This benefit allows for $100.00 per day for up to 180 days and does not require receipts for reimbursement. It must be within the first year of the claim. Care may be provided by anyone of your choosing except spouses.

MoneyGuard III, Lincoln Financials’ flagship LTC product, also includes these standard benefits:

Pre-Existing Conditions: Pre-existing conditions disclosed on your application will be covered after your policy is issued.

Interest Credits and Tax-Deferred Growth: Your policy cash value will increase each month due to a 2% annual credited interest rate and decrease each month due to policy charges.

Lincoln long-term care insurance pros & cons


  • No waiting (elimination) period for benefits to begin
  • Strong financial ratings
  • Concierge Care Coordination claims assistance for every policyholder
  • A low number of complaints have been filed against the company


  • No online quotes
  • Pricing provided only by company agents

Learn More: Long-Term Care Insurance Pros & Cons

About Lincoln Financial Group

Lincoln Financial was established in 1905 and has grown to be the 5th largest life insurer in the U.S. and a Fortune 500 company. Ellen Cooper became the company’s CEO in May 2022.

Lincoln Financial Group is the marketing name for Lincoln National Corporation and insurance company affiliates, including The Lincoln National Life Insurance Company, Fort Wayne, IN, and in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY. Variable products are distributed by broker-dealer/affiliate Lincoln Financial Distributors, Inc., Radnor, PA.

Lincoln National Life Insurance Company holds the following ratings by the major rating agencies:

  • AM Best: A+
  • Standard and Poor's: AA-
  • Moody's: A1
  • Fitch A+
  • Weiss: B
  • Comdex Ranking: 91/100

Lincoln Financial does not have the least expensive LTC product on the market, but policyholders are supported by offices in most major cities and an agent salesforce throughout the country. The company is highly reputable and has superior financial ratings for financial strength and claims-paying ability.

The information and content provided herein is for educational purposes only, and should not be considered legal, tax, investment, or financial advice, recommendation, or endorsement. Breeze does not guarantee the accuracy, completeness, reliability or usefulness of any testimonials, opinions, advice, product or service offers, or other information provided here by third parties. Individuals are encouraged to seek advice from their own tax or legal counsel.

— Published December 20, 2022
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