For the dreams of future generations Please pull cover photo from VUL_1890-06 For the dreams of future generations 11/29/2018 Client Overview Hello! My name is [Name], and I'm here today to talk about the delicate balance of retirement income needs and estate planning objectives.   And with your participation we'll discuss some financial solutions that might help you reach those goals and protect your loved ones. LCN0804-2015191

Agenda Your unique vision The challenges of wealth transfer Surmount the challenges Case studies The confidence to see it through 11/29/2018 [Read Agenda] As Nelson Henderson, a founder of the satellite communications company Comtel, once said... LCN0804-2015191 LCN0804-2015191

“The true meaning of life is to plant trees, under whose shade you do not expect to sit.” Nelson Henderson 11/29/2018 [Read quote] That is really the core of what estate planning is all about — living your life with the confidence of knowing that you can plant the seeds for a better tomorrow. LCN0804-2015191

Your unique vision To achieve your future goals, consider some key factors The present size of your estate How much you want to leave for your loved ones    How much you want to leave for your favorite charity    How you can most efficiently transfer your legacy to your beneficiaries   11/29/2018 [Read slide] Build a strategy that will enable you to protect your loved ones, prepare for retirement, and establish a legacy for the next generation. Variable universal life insurance may be an important part of your strategy.   Let’s begin by identifying the challenges that arise in the process of transferring wealth. LCN0804-2015191 LCN0804-2015191

The challenges of wealth transfer Protecting assets from taxes    Maintaining control     Getting the most out of your assets  Ensuring your estate is properly distributed   11/29/2018 Every dollar counts. And after all the time you’ve spent building your assets, you can use a strategy in place to make sure that your beneficiaries get the most from your legacy with as little impact from taxes and inflation as possible. Protecting assets from taxes—Federal estate taxes pose a significant threat to your estate and can be difficult to manage due to ongoing tax law changes. If not managed properly, taxes can reduce the size of your estate transferred to heirs. Maintaining control—The age and maturity of beneficiaries, plus divorce, are among some of the key challenges confronted by estate owners. An estate plan can make special provisions for minor beneficiaries and can protect family assets during divorce proceedings. Getting the most out of your assets—While you can’t predict market performance, you can maintain control of your asset allocation. You can also seek financial solutions that provide tax-advantaged growth potential. Ensuring your estate is properly distributed—Creditors can lay claim to assets or interfere with the transfer of your estate. If identified early in the planning process, your estate can be protected against these risks. Let’s take a look at how you might address these concerns in your estate planning. LCN0804-2015191 LCN0804-2015191

Surmount the challenges How can you use the tax code to your advantage? Gifting Trusts 11/29/2018 Proper Estate Planning can help you use the tax code to your advantage: For estate planning purposes, using trusts and gifting strategies can offer many flexible planning options. Many times the strategy can be updated as necessary to meet changing business or family circumstances.  Discussing this topic with your attorney, tax advisor, and financial professional are important steps to find what is right for your situation. LCN0804-2015191 LCN0804-2015191

Surmount the challenges Lincoln VUL and Lincoln SVUL can provide the answers to help you achieve: Tax-deferred growth potential Efficient death benefit transfer using an irrevocable life insurance trust 11/29/2018 The best solution is one that helps meet all of your potential needs. Lincoln Variable Universal Life insurance or Lincoln Survivorship Variable Universal Life insurance can help you proceed with confidence. [Read slide] With Lincoln VUL and Lincoln SVUL, you gain access to the benefits of market investing. You control how your premiums are allocated among your investment options. As a result, you can benefit from potential market gains from your allocations. When you reposition you assets into a Lincoln VUL or Lincoln SVUL policy, you’re giving your assets the opportunity for potential account value growth and, at the same time, positioning them to transfer more efficiently to your heirs. Although life insurance and trusts are separate instruments, it’s becoming increasingly common to fund irrevocable life insurance trusts with a VUL policy. With an ILIT, you mitigate the impact of estate taxes by giving up control of the policy. This avoids inclusion of policy death benefit proceeds in your estate. Because you don’t have incidence of ownership, you do not have the ability to access cash value, change beneficiaries, or surrender or cancel the policy. Let’s take a look at the following hypothetical profiles to see how Lincoln VUL and Lincoln SVUL can help people like yourself live life with confidence. LCN0804-2015191 LCN0804-2015191

Case study: Emma Age: 60 Children: 2 Grandchildren: 2 Business: Former CEO of a highly respected hospital, Founder of a nonprofit organization Concerns: Providing for the future of her grandchildren Securing her nonprofit’s financial solvency Ensuring her grandchildren and the nonprofit receive her bequests with minimal tax impact 11/29/2018 [Read slide] Emma has amassed significant savings from her former employment as CEO of a renowned hospital, and a sizable inheritance from her father, who lost his battle with cancer. She built a nonprofit organization devoted to supporting families of children coping with cancer. The charity has become very successful, and Emma realizes that she needs to make sure her organization can continue its mission long after she is gone. Because Emma’s children are well established and successful, her legacy concerns are more geared toward her grandchildren and providing a generous personal endowment to her nonprofit. LCN0804-2015191 LCN0804-2015191

Case study: Emma Using Lincoln VUL to fund an Irrevocable Life Insurance Trust (ILIT) offers: Proactive structure Tax advantages Growth potential 11/29/2018 Emma’s financial advisor suggests using a Lincoln Variable Universal Life insurance policy to fund an Irrevocable Life Insurance Trust (ILIT), because it offers: Proactive structure — Emma purchases VUL because it offers a death benefit that can become a valuable legacy for her grandchildren. She can enjoy her retirement years knowing that she will have assets to pass on to the next generation. Tax advantages — Emma can set up an ILIT to own her policy, so that proceeds will pass to her children and/or grandchildren free from federal income, gift, and estate taxes. Growth potential — The policy’s ability to capitalize on market gains can help improve Emma’s account value. Her investment options offer market performance, which has historically outpaced inflation. Next, let’s take a look at Arthur and Fran. LCN0804-2015191 LCN0804-2015191

Case study: Arthur and Fran Ages: 65 and 60 Children: 4 Grandchildren: 4 Business: Owners of a multilocation hardware store Concerns: Protecting assets for the college tuition of their grandchildren Endowing a scholarship fund at Fran’s alma mater Efficiently transferring unused retirement assets to their beneficiaries after they both pass away Managing the tax consequences on their estate 11/29/2018 [Read slide] Arthur spent many happy years with his dad, growing a single hardware store into a multilocation business. Years later, Arthur married Fran. They had a family. The hardware store business let Fran realize her dream of raising the kids at home; and, in time, it put all four of their children through college. It helped them build a comfortable retirement nest egg, and enabled Arthur and Fran to start thinking about their legacy. Together, they agreed on goals they would like to achieve with their $8 million estate. Since they don’t have any immediate plans to retire and are accruing more retirement assets than they need, Arthur and Fran turned to their financial advisor for advice. LCN0804-2015191 LCN0804-2015191

Case study: Arthur and Fran Lincoln SVUL offers: Efficient transfer of death benefit Account value growth potential Tax advantages 11/29/2018 Arthur and Fran’s advisor suggested that they purchase a Lincoln Survivorship Variable Universal Life insurance policy, because it offers: • Efficient transfer of death benefit — Lincoln SVUL provides a death benefit that’s paid upon the death of the second insured. • Account value growth potential — Lincoln SVUL provides Arthur and Fran the opportunity to enhance their legacy. • Tax advantages — The policy’s account value grows on a tax-deferred basis. An irrevocable life insurance trust can be set up to own the SVUL policy, so that proceeds of the estate are free from federal income, gift, and estate taxes. LCN0804-2015191 LCN0804-2015191

The confidence to see it through Make today the day you ask your advisor about: Gifting strategies Utilizing trusts Magnifying gifts 11/29/2018 Make today the day you ask your advisor how the flexibility, account value growth potential, and tax advantages of a Lincoln VUL or Lincoln SVUL policy can work for you — through gifting strategies, trusts, and magnifying gift benefits. Make today the day you start living your future with confidence. LCN0804-2015191 LCN0804-2015191

Important information Lincoln variable universal life insurance is issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, distributed by Lincoln Financial Distributors, Inc., and offered through broker/dealers with an effective selling agreement. 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 Lincoln Life & Annuity Company of New York, Syracuse, NY, and distributed by Lincoln Financial Distributors, Inc. Contractual obligations are backed by the claims paying ability of Lincoln Life & Annuity Company of New York. Policy values will fluctuate and are subject to market risk and to possible loss of principal. Product and features subject to state availability. Policy values will fluctuate and are subject to market risk and to possible loss of principal. Product and features subject to state availability. Lincoln variable universal life insurance is sold by prospectus. Carefully consider the investment objectives, risks, and charges and expenses of the policy and its underlying investment options. This and other important information can be found in the prospectus for the variable universal life policy and the prospectus for the underlying investment options. Prospectuses are available upon request and should be read carefully before investing or sending money. For a current prospectus, please call 800 444-2363 or go to www.LincolnFinancial.com. 11/29/2018 LCN0804-2015191 LCN0804-2015191

Thank you Questions? And I thank you for your time. 11/29/2018 And I thank you for your time. If you have any questions, I’ll be happy to discuss them with you! ©2008 Lincoln National Corporation www.LincolnFinancial.com Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations. LCN0804-2015191 LCN0804-2015191