Lincoln National Announces the Release of Lincoln PROTerm - The Premiu

Lincoln National Announces the Release of Lincoln PROTerm - The Premium Refund Option Term Policy

    Business Editors/Insurance Writers

    PHILADELPHIA--(BUSINESS WIRE)--April 25, 2005--The Lincoln National Life Insurance Company (Lincoln) announced another in a series of customer-focused product designs. Lincoln PROTerm(SM) is a term life product that combines the advantages of traditional term life insurance with next-generation benefits. Now clients can buy term life insurance for a specific period of time and get all of their money back at the end of the term! Unlike traditional term policies, with Lincoln PROTerm, even policy owners who surrender their policies early can receive competitive premium refunds.
    "We are excited about this opportunity to take a leadership position in the term market with a unique client-friendly feature," said Christopher Nickele, vice president and term business leader for Lincoln. "Most term products in today's market focus on providing temporary protection. But Lincoln PROTerm provides clients with the affordability of term life insurance along with the ability to receive all of their premium payments back at the end of the elected term. This is a win-win for the policy owner; they have life insurance protection if they need it and can receive money back if they don't."

    How Lincoln PROTerm helps the client:

--	Lincoln PROTerm is term life insurance bundled with a return of premium rider.
--	The combination guarantees level premiums for the initial term periods of 15-, 20-, 25-, and 30-years with 100% return of those premiums at the end of the initial term period.
--	Before the end of the initial term period, generous percentages less than 100% apply to cumulative premiums paid, generating highly competitive premium refunds for policy owners that need or choose to surrender early.
--	Clients now have a choice between Lincoln's traditional term products and the new PROTerm return of premium option.

    "Lincoln PROTerm offers best-in-class surrender values," said Parag Shah, 2nd vice president, product development for Lincoln. "It can be especially well-suited for those clients who are concerned about the out-of-pocket cost for life insurance."
    This return of premium feature helps take the guesswork and worry out of term life ownership. Premium payments are economical and guaranteed for the length of the chosen term. For example: a client who elects a 30-year term policy, face amount of $500,000 with an annual premium of $1,215 would receive $1,215 x 30 x 100% or $36,450 at the end of the term. That's thirty years of life insurance protection, with return of premiums paid at the end of the period if the death benefit is not needed. If the client died during the term of coverage, his/her beneficiaries would receive the $500,000 death benefit. Even if the client decided to surrender the policy early (for example, at year 20), he/she would still receive a return of premium payment of $10,449!
    "The addition of Lincoln PROTerm to our portfolio of term products offers our clients even greater choice, in order to best satisfy their particular life insurance needs and goals. We offer term products with competitive rates for those looking for low-cost protection, and now, with Lincoln PROTerm, we offer an option for those clients who seek the low cost of term life with premium return potential if the death benefit is not needed," said Nickele.

    Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in Philadelphia and employer market operations based in Fort Wayne, Lincoln Financial Group had consolidated assets of $116 billion and had annual consolidated revenues of $5.4 billion as of Dec. 31, 2004. Through its wealth accumulation and protection businesses, the company provides annuities, life insurance, 401(k) and 403(b) plans, 529 college savings plans, mutual funds, managed accounts, institutional investment and financial planning and advisory services.

    Lincoln PROTerm is a term life insurance policy with a Return of Premium Rider (Partial Return of Premium in PA). Return of premium applies to eligible premiums only and is available at the end of the selected term, subject to policy terms and conditions. Guarantees are backed by the financial strength of the issuer. Issued on policy form #LBT-400 Series/Rider Form #LBR-400 Series by The Lincoln National Life Insurance Company, Fort Wayne, IN. Products and features are subject to state availability.

    Lincoln Financial Group's Internet address is: www.lfg.com.

    Lincoln PROTerm(SM) is available effective March 28, 2005.

    For more information about term life products, please call: 1-860-466-1120.

    This press release not approved for use in CT, GA and MS.

--30--RM/ph*

CONTACT: Lincoln Life and Annuity Heidi St. Jean, 860-466-1759 hstjean@lnc.com or Lincoln Financial Distributors Judimarie Thomas, 267-234-6249 jthomas@lfd.com or Investor Contact Priscilla Brown, 215-448-1422 investorrelations@LNC.com

KEYWORD: PENNSYLVANIA INDUSTRY KEYWORD: INSURANCE BANKING PRODUCT SOURCE: Lincoln National Life Insurance Company

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