Lincoln Financial Group got permission to use its brand name from President Abraham Lincoln’s son Robert Todd Lincoln in 1905. President Lincoln’s profile still serves as the company’s recognizable logo, symbolizing strength and integrity. The company is headquartered in Radnor, Pennsylvania.
NERDWALLET RANK: 6TH
Lincoln Financial ranked No. 6 out of 18 large companies scored by NerdWallet. NerdWallet’s life insurance company rankings combine its A.M. Best rating, consumer complaints, and J.D. Power’s customer satisfaction score.
A.M. BEST FINANCIAL STRENGTH RATING: A+ (SUPERIOR)
Lincoln Financial’s financial strength is “superior,” according to rating agency A.M. Best.
Financial strength is important because it indicates how well an insurer can pay claims. It’s especially important when choosing a life insurance company because claims might not be made until many decades after a policy is purchased.
CONSUMER COMPLAINTS: BETTER THAN THE MEDIAN
Lincoln Financial drew far fewer than the median number of complaints to state regulators in 2015 for a company of its size, according to the latest data from the National Association of Insurance Commissioners.
The association assigns a complaint ratio score to insurance companies, based on the number of complaints to state insurance commissioners, adjusted for market share. The median score is 1. A score less than 1 means fewer complaints. Lincoln Financial’s score for individual life insurance in 2015 was .10.
J.D. POWER RATINGS: GENERALLY BELOW AVERAGE
In a survey of customer service by J.D. Power published in 2016, Lincoln Financial scored with “the rest” (the lowest score) in four categories and “about average” in the fifth. The insurer ranked No. 16 overall out of 21 companies included in the survey.
| Lincoln FInancial customer satisfaction scores | |
|---|---|
| Overall satisfaction | The rest |
| Billing and payment | The rest |
| Price | The rest |
| Policy offerings | The rest |
| Interaction | About average |
| Source: J.D. Power 2016 U.S. Life Insurance Study | |
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