Skip to content

Lincoln MoneyGuard Fixed Advantage

Lincoln Financial Logo

Lincoln MoneyGuard Review – Is Lincoln MoneyGuard Worth Considering?

If you’re wondering if Lincoln MoneyGuard is worth considering as a long-term care insurance option, you’ve come to the right place!

First things first, I’ll tell you that Lincoln Financial helped pioneer the Hybrid Long-Term Care Insurance Market. The Lincoln MoneyGuard suite of products have been around for over 30 years.

That’s why when we talk about hybrid long-term care insurance, Lincoln’s MoneyGuard often comes to mind.

Now MoneyGuard does offer affordable rates and great benefits.

However, while I can go on and on about Moneyguard, I must say that there are definitely better long-term care products to consider.

If you don’t look at these other products, you’ll be doing your self a disservice.

Two products, other than Lincoln’s MoneyGuard, that are worth considering are Nationwide CareMatters and OneAmerica Asset Care.

These two product are well-known for their low rates as well as their great benefits. These products actually offer more benefits for your money than Lincoln Financial’s MoneyGuard.

Now we’re going to compare Nationwide CareMatters and OneAmerica Asset Care against Lincoln’s MoneyGuard .

However, before we do, let me first explain MoneyGuard’s benefits and some of its features to provide a full understanding.

How Does Lincoln MoneyGuard Fixed Advantage Work?

Now Lincoln MoneyGuard Fixed Advantage is a universal life insurance policy with a qualified long-term care insurance rider. As a Hybrid Long-Term Care Life Insurance policy, it provides the following three benefits to you:

  1. Long-term care coverage in the event you need long-term care services.
  2. A death benefit to your beneficiaries if you never need care &
  3. A return of premium if you ever change your mind

Therefore, MoneyGuard Fixed Advantage provides the added flexibility you need to plan for long-term care.

How Does Lincoln Financial's MoneyGuard Work?

How the policy works is pretty simple. First, the policy accelerates the built-in death benefit as a living benefit to cover your qualified long-term care expenses.

Next, it offers a Long-Term Care Extension of Benefits Rider. This rider can extend your long-term care benefits once you’ve exhausted the death benefit.

With both the Acceleration of Death Benefit and the Extension of Benefits Rider, MoneyGuard Fixed Advantage can provide up to 6 years of long-term care benefits & protection!

What LTC Services Does Lincoln MoneyGuard III Cover?

If you’re wondering how you may use your policy, here is a list of the following services Lincoln MoneyGuard covers. Services include:

  1. Adult Day Care
  2. Assisted Living
  3. Home Healthcare
  4. Hospice Care
  5. Nursing Home Care

MoneyGuard Fixed Advantage, can cover a variety of care options. In addition, the policy also provides bed reservation benefits as well as international benefits.

How Does Lincoln MoneyGuard Fixed Advantage Pay Out Benefits?

Long-term care insurance policies pay benefits in one of two ways. They either pay:

  1. Cash benefits where they send you a check every month and you use it however you’d like OR
  2. They pay in reimbursements

Lincoln MoneyGuard Fixed Advantage is a reimbursement policy. With a reimbursement policy, either you or your long-term care facility are reimbursed for the long-term care expenses you incurred.

Therefore, you must submit bills or receipts of your long-term care expenses to Lincoln Financial in order for your MoneyGuard policy to disburse your benefits.

MoneyGuard Fixed Advantage, however, does offer a little flexibility with its Flex Care Cash feature.

Flex Care Cash Feature

The Flex Care Cash feature provides “receipt-free” cash for your long-term care needs. However, with this feature, you can only access up to 50% of your daily long-term care benefits.

The remaining 50% of your max monthly long-term care benefits stays in your long-term care benefit pool and can only be accessed as a reimbursement benefit.

Therefore, there are limitations to getting cash benefits with MoneyGuard. Also, in order to access the flex care cash feature, informal care (care by a spouse or family member) must be approved as part of the Plan of Care.

The Flex Cash Feature is not overly significant as other products such as Nationwide CareMatters offer 100% cash benefits without the need to submit any bills or receipts.

Now let’s discuss some other key features of MoneyGuard Fixed Advantage.

Key Features of Lincoln MoneyGuard Fixed Advantage

This is definitely worth discussing as the key features can help us determine if the product is right for you. So let’s jump right in.

No Elimination Period

One of the biggest key features of MoneyGuard Fixed Advantage the “No Elimination Period.”

The elimination period is also referred to as a deductible period or waiting period.

No elimination period allows benefits to be payable on the first day of care for all eligible claims!

This means that a MoneyGuard policyholder does not have to wait your standard 90 day waiting period before they can receive their benefits.

For a MoneyGuard policyholder, no elimination period can lead to huge cost savings.

For example, the median daily cost of a private room in a nursing home is about $275 a day. If you had a 90-day elimination period, you may pay almost $25,000 of out-of-pocket expenses before receiving benefits!

However, with MoneyGuard’s “No Elimination Period,” you would receive benefits from the first day of eligible long-term care claims.

This is definitely a win for MoneyGuard Fixed Advantage.

Now Lincoln’s MoneyGuard offers a Benefits Transfer Rider. I will explain how that works below.

Benefits Transfer Rider

The Benefits Transfer Rider comes at no additional cost to you in your MoneyGuard policy.

The Benefits Transfer Rider provides your beneficiaries who also have their own MoneyGuard Fixed Advantage policy, the ability to increase their long-term care benefits using your death benefit in the event you die.

Let’s say for example both spouses buy a MoneyGuard Fixed Advantage policy and list one another as their beneficiaries for the death benefit. If one spouse dies, the surviving spouse can use the death benefit to purchase more benefits in their own MoneyGuard Fixed Advantage policy.

In addition, this benefit can be utilized without needing to go through Underwriting. This is a unique feature among hybrid long-term care policies. Therefore, Lincoln MoneyGuard does stand out in this regard.

Lincoln MoneyGuard Ages To Apply & Premium Payment Options

Now MoneyGuard Fixed Advantage is available to individuals between the ages of 40-80.

The application process for MoneyGuard has streamlined underwriting with no medical exams or lab tests required. There is an application to be completed along with a telephone interview.

The policy offers two rate classes: Standard & Couples Discount. The couples discount will apply based on your marital status at the time of issue only.

For MoneyGuard Fixed Advantage, you can pay for your policy using a single or recurring premium option.

The single premium option allows you to pay your premium in one single lump-sum. No further premium would be required after this lump-sum payment. This option offers the most cost savings and is the preferred option by many folks.

On the other hand, there is a recurring premium option. This offers more flexibility as it allows you to pay guaranteed premiums up to a 10 year period depending on our age.

During that time, you can pay on a monthly, quarterly, semi-annual, or annual basis. Once the payment period is over and all premium payments have been met, no further premium would be required.

That being said other products such as Nationwide CareMatters offer more premium payment options. With Nationwide CareMatters, you can pay your policy to age 100.

Lincoln MoneyGuard Fixed Advantage Vs. Other Products

Now that we have gotten through all the features of Lincoln’s MoneyGuard let’s discuss how it compares to products such as Nationwide CareMatters and OneAmerica Asset Care. First let’s start with Nationwide CareMatters.

Why Nationwide CareMatters is better than Lincoln MoneyGuard Fixed Advantage

The two reasons why I prefer Nationwide CareMatters over Lincoln’s Fixed Advantage are:

  • 100% Cash Indemnity Benefits
  • Higher Long-Term Care Benefit Pool

Nationwide CareMatters offers 100% cash indemnity benefits. That means you can receive ALL of your long-term care benefits as cash benefits AND you don’t need to submit bills or receipts of your long-term care expenses.

Once you become eligible for claims, your very first to your very last long-term care benefit will be sent you as a cash benefit. This offer you 100% flexibility and control in how you choose to receive your care. You are not limited to receive formal care or institutional care.

You can pay a spouse, relative, or simply someone you know to take care of you.

Lincoln MoneyGuard Fixed Advantage offers somewhat flexibility with its Flex Cash Feature.

However, if you had to choose 50% of your daily benefit as cash vs. 100% of your monthly benefit as cash, you would likely go with the 100% monthly benefit.

Another reason why I prefer Nationwide CareMatters over Lincoln MoneyGuard Fixed Advantage is you typically get a higher long-term care benefit pool with Nationwide CareMatters for the same premium.

Simply put, you get more bang for your buck with a Nationwide CareMatters policy.

For example, below you will find a Lincoln MoneyGuard Fixed Advantage & a Nationwide CareMatters quote for a 55 year old male for $65,000:

While Lincoln MoneyGuard offers a 5 year benefit period Nationwide CareMatters offers a 6 year benefit period. That is an additional year of coverage!

Also, at age 85, the MoneyGuard policy will increase to a total benefit pool of $616,739. On the other hands, the Nationwide CareMatters policy will increase to a total benefit pool of $902,640.

That’s almost $300,000 in long-term care benefits!

All in all, for the same $65,000 in premium, Nationwide CareMatters will provide a 55 year old male an extra year of benefits AND almost $300,000 more in long-term care benefits!

This is why Nationwide CareMatters can be a better deal than Lincoln Financial’s MoneyGuard Fixed Advantage.

I would highly recommend that if you are considering a MoneyGuard Fixed Advantage policy, you should get yourself a comparison quote from Nationwide CareMatters.

This is to your benefit!

Now, the other hybrid long-term care policy that is worth considering against MoneyGuard is OneAmerica Asset Care. Let’s take more of a look at this point.

Why OneAmerica’s Asset Care is better than Lincoln MoneyGuard Fixed Advantage

OneAmerica Asset Care has one of the most unique hybrid long-term care policies on the market. While other carriers offer a benefit period for of 6 or 7 years, OneAmerica Asset Care offers an unlimited benefit period.

That’s right, OneAmerica Asset Care offers an unlimited benefit period that offers you lifetime coverage!

You can never outlive your long-term care benefits!

Also noteworthy is OneAmerica Asset Care offers joint coverage for couples. That means both you and your spouse can obtain unlimited lifetime coverage from a OneAmerica Asset Care policy!

For example, here is a OneAmerica Asset Care quote for a $120,000 policy for a 55 year old male and female:

As the quote shows, the total long-term care balance is unlimited! There is no other hybrid long-term care policy that offers this option.

Lincoln Financial’s MoneyGuard doesn’t even come close to offering this length of coverage and the benefit pool.

Also at age 75, based on this quote, this couple would receive $6,033 each in long-term care benefits. That’s over $72,000 in benefits annually per spouse!

That’s a great deal!

This level of coverage for couples is why I would recommend a OneAmerica Asset Care policy to anyone considering Lincoln’s MoneyGuard.

You can get a much greater bang for your buck with OneAmerica Asset Care.

There Are Better Options Than Lincoln Financial’s MoneyGuard

While Lincoln Financial MoneyGuard is a good product for long-term care insurance, there are better options out available.

As we just saw, there are two products that I can definitely recommend in lieu of Lincoln’s MoneyGuard –Nationwide CareMatters &OneAmerica Asset Care.

Both products offer greater coverage for the same cost as a Lincoln MoneyGuard Fixed Advantage policy.

With that being said, I have two suggestions before you sign the dotted line for a MoneyGuard Fixed Advantage policy:

  1. Get a Nationwide’s CareMatters quote & a OneAmerica Asset Care quote
  2. Go with one of the two above mentioned policies!

It’s as simple as that!

If you are interested in getting any of the policies mentioned in this article and need help determining which one is right for you, give me a call at (800) 498-3955.

I am pleased assist you with your long-term care insurance needs. You may also get a free quote by filling out the form below!

I look forward to speaking with you!

Get Free Quotes Today!

I have access to all available long-term care insurance companies. I am also licensed to sell insurance across the country.

Feel free to give me a call now at 1(800) 498-3955 or schedule a call below. I look forward to speaking with you!

Disclaimer: By submitting a request for a free quote, you agree to our privacy policy and consent to have agent Michael Chapman contact you by email, phone call, or text/SMS message at the phone number & email you provide for the purpose of providing you a free quote and offers for insurance. We will not sell your information. The only insurance agent that will contact you regarding your quote is Michael Chapman. You will not be contacted by numerous agents by submitting this quote.