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Lincoln MoneyGuard Closed to New Sales in Washington

Last day to submit new applications is today, September 9, 2021

Effective after September 9, 2021, Lincoln will no longer offer MoneyGuard product solutions for new sales in the state of Washington, including Lincoln MoneyGuard III and Lincoln MoneyGuard Market Advantage. At this time, there is no set date for the future availability of Lincoln MoneyGuard products in Washington.

No other states or product lines are impacted by this change.

Application Submission Deadline:

All Lincoln MoneyGuard applications and required solicitation forms must be signed, dated, and received in-good-order at Lincoln’s home office by 5 p.m. ET on Thursday, September 9, 2021.

Guidance for Upcoming Washington State Legislation Guidelines:

In anticipation of the upcoming Washington state legislation guidelines regarding the Long-Term Services and Supports Trust Program, we encourage you to submit any final placement-restrictive requirements for your Lincoln MoneyGuard Washington cases as soon as possible.

While Lincoln cannot guarantee placement before the state’s deadline of November 1, 2021, the following guidelines and key dates should be followed to help you place your case(s) inforce before this date:

  • To help ensure policy placement of your pending Lincoln MoneyGuard cases before November 1, 2021, all placement-restrictive requirements, including all premium(s), must be received at Lincoln in-good-order by October 25, 2021.
  • Your dedicated MoneyGuard Underwriting & New Business team will be working to place your Washington cases inforce through end-of-day October 29, 2021.
  • For cases in which any final requirements are received after October 25, processing will be handled on a first-in basis and are not guaranteed for placement by October 29, 2021.
  • Washington State Deadline: The state of Washington allows residents to apply for an exemption from the payroll tax for coverage placed in effect prior to November 1, 2021. Any business that is not placed inforce by October 29, 2021 will continue to be processed by Lincoln, however it will not qualify for exemption from the payroll tax assessment.