The Lincoln Life Insurance Company, an individual segment of Lincoln National, has enhanced its variable life insurance line with the launch of Lincoln VULONE (2010) product, which combines the no-lapse benefits of a universal life policy with a growth potential and protection of variable policy with guarantees.

The company said that the new product Lincoln VULONE (2010) is designed to meet various needs of individuals while creating a financial legacy for their beneficiaries.

According to Lincoln, the new product comes with features including guaranteed death benefit protection for beneficiaries with optimal no-lapse enhancement rider; an enhanced reset feature that offers an opportunity to eliminate premiums; ability to access excess account value without impacting guarantees through premium reserve rider; and account value growth potential through elite series of funds managed by nationally recognized investment managers.

In addition, the new policy includes an overloan protection rider and can be customized through use of select riders.

Michael Burns, senior vice president of individual life product management, insurance solutions at Lincoln, said: “Lincoln is committed to providing quality financial solutions to its customers. We are very excited to introduce our revamped variable universal life offering which is designed to address changing client needs and preferences.”

Josh Durand, assistant vice president of variable life product leader at Lincoln, said: “With Lincoln VULONE (2010), Lincoln now offers clients an even stronger solution. The enhanced reset feature provides the potential for account value growth to eliminate required premiums and lock-in a guaranteed lifetime death benefit, regardless of future market conditions.”