On May 1, 2018, Lincoln Financial Group announced that it completed its previously announced acquisition of Liberty Life Assurance Company of Boston (“Liberty Life”). Liberty Life is commonly referred to by its branded name of Liberty Mutual.
Lincoln Financial Group’s disability plans are issued by The Lincoln National Life Insurance Company(“Lincoln National”).
Thus, claimants with short or long term disability (“LTD”) insurance claims with Liberty Life may be presently receiving correspondence on Liberty Life station. In the alternative, some claimants may already be receiving letters on Lincoln National letterhead.
With this buyout, Lincoln National has significantly increased its presence in the group benefits, including the long-term disability insurance market. Lincoln National has already extended a welcome to the employees joining the company from Liberty.
It is worth noting that Lincoln Financial now ranks first in market share in combined fully insured disability sales and third in combined total life and fully insured disability sales.