Lincoln Financial Group has a new survivorship variable universal life product, Lincoln PreservationEdge SVUL.

“Lincoln PreservationEdge SVUL offers a strong combination of financial protection and investment expertise specifically designed for efficient wealth transfer and estate preservation,” said Michael Burns, senior vice president for individual life product management and insurance solutions at Philadelphia, Pa.-based Lincoln Financial Group.

Josh Durand, an assistant vice president at the insurer, said the product was “developed in response to the requests of traditional variable universal life producers who prefer managing risks through asset allocation rather than secondary guarantees. The historic sales success and marketing appeal of these kinds of VUL products was attributable in large part to the efficiency, cost effectiveness and ease of understanding of their designs.”

The product includes death benefits for either protection-driven or premium-driven (gifting) sales; means for efficient wealth transfer; tax-deferred growth potential; and overloan protection, the insurer said.