Lincoln Employer Markets Executive Benefits Group Announces New Strategic Focus on the Community Bank Market

- New BOLI Product for Community Banks and New Director of Sales for Lincoln Executive Benefits –

PHILADELPHIA, PA - March 12, 2007 – Lincoln National Corporation (NYSE:LNC) announces the launch of its new Lincoln Corporate Universal Life – Single Premium (LCUL-SP),  bank-owned life insurance (“BOLI”) products issued by its insurance company affiliates. The LCUL-SP products are a part of the Lincoln Employer Markets Executive Benefits group’s new strategic focus on the community bank marketplace. The Lincoln Employer Markets division supports a broad breadth of products focused on Retirement, Group Protection and Executive Benefits and was strategically created to provide employers with integrated solutions for all non-healthcare-related benefits.

About LCUL-SP

The LCUL-SP product was created to fund an executive benefit plan or general employee benefit liabilities with a bank’s balance sheet in mind. The product was designed to increase a bank’s net interest margin in the short and long-term.

Lincoln has maximized the early year cash value performance without sacrificing the long-term performance of the product. Highlights of the product include a competitive first-year credited rate with a first year rate lock, multiple commission schedules, zero first year charges, minimum 3 percent guaranteed interest rate, and the product accepts 1035 Exchanges. The LCUL-SP product will replace the Jefferson Pilot Financial ESP product line currently being sold.

“Lincoln was very close to releasing its own products for this market when our merger with Jefferson Pilot Financial was completed,” said Tony Laudato, 2nd Vice President, Lincoln Executive Benefits. “Knowing that Jefferson Pilot was the pioneer and a premier product provider in the community bank market, we collaborated with the top talent from both Lincoln and Jefferson Pilot to bring this new offering to the table.”

LCUL-SP Distribution

The LCUL-SP product will be sold through key distribution partners that have expertise in bank-owned life insurance, particularly with community banks. "The Executive Benefits group provides powerful and complex products to the business community.  Because of this, we place high importance on selecting the right distribution partners to represent our products in a given market,” said David Bensinger, National Director of Sales for the Executive Benefits group of Lincoln Employer Markets.  “We expect our partners to meet certain criteria with regard to specialization, knowledge, administrative platforms, sales force and more. Ultimately, this helps to ensure our clients are getting the very best products and supporting services that are available."

New Director of Sales for Lincoln Executive Benefits

Steven Weilbacker has joined the team as Director of Sales for Lincoln Executive Benefits, reporting to National Sales Director, David Bensinger. Weilbacker will be responsible for driving Lincoln Executive Benefits solutions, including bringing the new LCUL-SP product to the marketplace. Prior to joining Lincoln, Weilbacker was Vice President of Design and Analysis/New Business for Clark Consulting. Before joining Clark Consulting, he was Assistant Vice President of BOLI distribution for the MONY Group. Weilbacker has a bachelor’s of art degree in mathematics and economics from Rutgers College and holds a NASD Series 6, Series 7 and Series 63 designations. He also holds a Variable Life and Annuities Insurance License and holds professional designations from the Society of Actuaries (ASA), Chartered Life Underwriter (CLU) and Chartered Financial Consultant (ChFC).   

“Lincoln Executive Benefits has become the leading provider of corporate liability funding solutions through innovative product designs, exceptional administrative systems and an active inforce management program,” said Bensinger. “With the launch of LCUL-SP and bringing on Steven, we are poised to bring the same successful strategy to the community bank marketplace.” 

The LCUL-SP bank-owned life insurance product is issued by the Lincoln National Life Insurance Company of Fort Wayne, Indiana on policy form #LN937. The Lincoln National Life Insurance Company is not authorized nor does it solicit business in the state of New York. Contractual obligations are backed by the claims-paying ability of The Lincoln National Life Insurance Company.

Policies sold in New York are issued by the Lincoln Life & Annuity Company of Syracuse, New York on policy form #LN937.   Contractual obligations are backed by the claims-paying ability of Lincoln Life & Annuity Company of New York.

Product and features subject to state availability.

About Lincoln Financial Group

Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in Philadelphia, the companies of Lincoln Financial Group had assets under management of $234 billion as of December 31, 2006. Lincoln Financial Group recognizes the changing financial security needs of today’s retirees as well as those still in the workforce, and focuses its products and services on making retirement income security a reality for its clients. Specifically, through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life, and disability insurance; 401(k) and 403(b) plans; savings plans; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services. Affiliates include: Delaware Investments, the marketing name for Delaware Management Holdings, Inc. and its subsidiaries; Lincoln Financial Media, which owns and operates three television stations, 17 radio stations, and the Lincoln Financial Sports production and syndication business; and Lincoln UK. For more information please visit www.LFG.com.