What does life insurance — policyholder account balances mean?

The total value of funds held by the insurer on behalf of policyholders, typically associated with universal life or investment-linked insurance products. This balance represents the company's core liability to policyholders for their accumulated account values.

Lincoln National LNC Life Insurance — Policyholder Account Balances

Other segment segments

Retirement Plan Services

$23.62B-0.7%

Other Operations

$7.4B+64.2%

Similar metrics at other companies

AMPOther Life Insurance — Policyholder account balances

$268M-7.9%

RGALife Insurance Product Line — Policyholder Account Balance

$3.24B-1.7%

HIGPolicyholder account balances

$612M+0.2%

RGAInsurance, Other — Policyholder Account Balance

$35.4B+64.9%

AMPVariable Universal Life Insurance — Policyholder account balances

$1.72B+4.4%

AMPUniversal Life Insurance — Policyholder account balances

$1.31B-4.0%

Other financials

Income statement

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Revenue$5.3B+13.1%

Net income-$172.0M+76.2%

EPS (diluted)-$1.10+75.1%

Balance sheet

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Cash & equivalents$7.3B+71.5%

Total debt$6.4B+8.5%

Total equity$10.2B+24.6%

Total assets$406.16B+6.1%

Cash flow

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Operating cash flow$138.0M+151%

Valuation

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Market cap$7.11B+10.3%

Enterprise value$6.13B-25.1%

P/E4.1×-0.7×

P/S0.4×0.0×

Profitability

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Net margin9.2%+2.2pp

Returns & leverage

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Return on equity18.8%+1.8pp

Debt / equity0.6×-0.1×

Where this comes from

Reported directly by Lincoln National in its filing.

Tagged under the XBRL concept us-gaap:SupplementaryInsuranceInformationOtherPolicyClaimsAndBenefitsPayable.

The official record: Lincoln National’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lincoln National's life insurance — policyholder account balances?: Lincoln National (LNC) reported life insurance — policyholder account balances of $36.22B in Q4 2025.
How has Lincoln National's life insurance — policyholder account balances changed year-over-year?: Lincoln National's life insurance — policyholder account balances decreased by 1.7% year-over-year, from $36.84B to $36.22B.
What does life insurance — policyholder account balances mean?: The total value of funds held by the insurer on behalf of policyholders, typically associated with universal life or investment-linked insurance products. This balance represents the company's core liability to policyholders for their accumulated account values.