Lincoln Life Separate Account BL2 of the Lincoln National Life Insurance D Indefinite amount in investment fund, sold $113.12 mm, 62 investors

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM D

Notice of Exempt Offering of Securities

OMB APPROVAL

OMB Number:	3235-0076
Estimated average burden
hours per response:	4.00

1. Issuer's Identity

CIK (Filer ID Number)

Previous Names

X None

Entity Type

0001460116

	Corporation
	Limited Partnership
	Limited Liability Company
	General Partnership
	Business Trust
X	Other (Specify)

Insurance Company Separate Account

Name of Issuer

Lincoln Life Separate Account BL2 of the Lincoln National Life Insurance Co

Jurisdiction of Incorporation/Organization

INDIANA

Year of Incorporation/Organization

X	Over Five Years Ago
	Within Last Five Years (Specify Year)
	Yet to Be Formed

2. Principal Place of Business and Contact Information

Name of Issuer
Lincoln Life Separate Account BL2 of the Lincoln National Life Insurance Co
Street Address 1		Street Address 2
1300 South Clinton St
City	State/Province/Country	ZIP/PostalCode	Phone Number of Issuer
Fort Wayne	INDIANA	46802	260-455-2000

3. Related Persons

Last Name	First Name	Middle Name
Cooper	Ellen
Street Address 1	Street Address 2
150 North Radnor Chester Road
City	State/Province/Country	ZIP/PostalCode
Radnor	PENNSYLVANIA	19087

Relationship: X Executive Officer X Director Promoter

Clarification of Response (if Necessary):

Last Name	First Name	Middle Name
Beizer	Craig
Street Address 1	Street Address 2
150 North Radnor Chester Road
City	State/Province/Country	ZIP/PostalCode
Radnor	PENNSYLVANIA	19087

Relationship: X Executive Officer X Director Promoter

Clarification of Response (if Necessary):

Last Name	First Name	Middle Name
Freitag	Randall
Street Address 1	Street Address 2
150 North Radnor Chester Road
City	State/Province/Country	ZIP/PostalCode
Radnor	PENNSYLVANIA	19087

Relationship: X Executive Officer Director Promoter

Clarification of Response (if Necessary):

Last Name	First Name	Middle Name
Ryan	Keith	J
Street Address 1	Street Address 2
1300 South Clinton Street
City	State/Province/Country	ZIP/PostalCode
Fort Wayne	INDIANA	46802

Relationship: X Executive Officer X Director Promoter

Clarification of Response (if Necessary):

Last Name	First Name	Middle Name
Bronchetti	Jayson	R
Street Address 1	Street Address 2
150 North Radnor Chester Road
City	State/Province/Country	ZIP/PostalCode
Radnor	PENNSYLVANIA	19087

Relationship: X Executive Officer X Director Promoter

Clarification of Response (if Necessary):

4. Industry Group

Agriculture

Banking & Financial Services

	Commercial Banking
X	Insurance
	Investing
	Investment Banking
	Pooled Investment Fund
	Is the issuer registered as an investment company under the Investment Company Act of 1940?
	Yes No
	Other Banking & Financial Services

Business Services

Energy

Coal Mining

Electric Utilities

Energy Conservation

Environmental Services

Oil & Gas

Other Energy

Health Care

Biotechnology

Health Insurance

Hospitals & Physicians

Pharmaceuticals

Other Health Care

Manufacturing

Real Estate

Commercial

Construction

REITS & Finance

Residential

Other Real Estate

Retailing

Restaurants

Technology

Computers

Telecommunications

Other Technology

Travel

Airlines & Airports

Lodging & Conventions

Tourism & Travel Services

Other Travel

Other

5. Issuer Size

Revenue Range		OR	Aggregate Net Asset Value Range
	No Revenues			No Aggregate Net Asset Value
	$1 - $1,000,000			$1 - $5,000,000
	$1,000,001 - $5,000,000			$5,000,001 - $25,000,000
	$5,000,001 - $25,000,000			$25,000,001 - $50,000,000
	$25,000,001 - $100,000,000			$50,000,001 - $100,000,000
	Over $100,000,000			Over $100,000,000
X	Decline to Disclose			Decline to Disclose
	Not Applicable			Not Applicable

6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)

Rule 504(b)(1) (not (i), (ii) or (iii)) Rule 504 (b)(1)(i) Rule 504 (b)(1)(ii) Rule 504 (b)(1)(iii) Rule 506(b) Rule 506(c) Securities Act Section 4(a)(5)

X Investment Company Act Section 3(c) X Section 3(c)(1) Section 3(c)(9)   Section 3(c)(2) Section 3(c)(10) Section 3(c)(3) Section 3(c)(11) Section 3(c)(4) Section 3(c)(12) Section 3(c)(5) Section 3(c)(13) Section 3(c)(6) Section 3(c)(14) X Section 3(c)(7)

7. Type of Filing

X	New Notice	Date of First Sale	2008-04-30	First Sale Yet to Occur
	Amendment

8. Duration of Offering

Does the Issuer intend this offering to last more than one year? X Yes No

9. Type(s) of Securities Offered (select all that apply)

Equity	X	Pooled Investment Fund Interests
Debt		Tenant-in-Common Securities
Option, Warrant or Other Right to Acquire Another Security		Mineral Property Securities
Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Security	X	Other (describe)
	Interest in Separate Accounts issued pursuant to variable life insurance policies.

10. Business Combination Transaction

Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer? Yes X No

Clarification of Response (if Necessary):

11. Minimum Investment

Minimum investment accepted from any outside investor $1,000,000 USD

12. Sales Compensation

Recipient	Recipient CRD Number None
Douglas George	2519257
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
ProEquities	15708
Street Address 1	Street Address 2
2801 Highway 280 South
City	State/Province/Country	ZIP/Postal Code
Birmingham	ALABAMA	35223
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
MISSISSIPPI SOUTH CAROLINA TENNESSEE

Recipient	Recipient CRD Number None
William Borchert	1057817
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
J. Alden Associates, Inc	40002
Street Address 1	Street Address 2
261 Old York Road	Suite 837
City	State/Province/Country	ZIP/Postal Code
Jenkintown	PENNSYLVANIA	19046
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
PENNSYLVANIA

Recipient	Recipient CRD Number None
James Cole	2941597
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
Bosc, Inc.	17530
Street Address 1	Street Address 2
One Williams Ctr. Plaza South East
City	State/Province/Country	ZIP/Postal Code
Tulsa	OKLAHOMA	74172
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
NEW MEXICO OKLAHOMA TEXAS

Recipient	Recipient CRD Number None
Jeffrey Davis	2187246
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
M. Holdings Securites	43285
Street Address 1	Street Address 2
205 S. E. Spokane Street
City	State/Province/Country	ZIP/Postal Code
Portland	OREGON	97202-6413
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
CALIFORNIA COLORADO DELAWARE FLORIDA GEORGIA MARYLAND MICHIGAN MISSOURI NEW JERSEY OKLAHOMA OREGON TEXAS VIRGINIA WASHINGTON

Recipient	Recipient CRD Number None
Joseph L. Carpenter	2361166
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
NFP Securities	42046
Street Address 1	Street Address 2
1250 Capital of Texas Parkway	Suite 2125
City	State/Province/Country	ZIP/Postal Code
Austin	TEXAS	78746
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
Geoffrey L. Bradley	1491479
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
Transamerica Financial Advisors, Inc.	16164
Street Address 1	Street Address 2
570 Carillon Parkway
City	State/Province/Country	ZIP/Postal Code
St. Petersbury	FLORIDA	33716
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
INDIANA KENTUCKY

Recipient	Recipient CRD Number None
Paul J. Scioli	1448021
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
MML Investors Services, Inc.	10409
Street Address 1	Street Address 2
1414 Main Street
City	State/Province/Country	ZIP/Postal Code
Springfield	MASSACHUSETTS	01144
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
MARYLAND NEW MEXICO TEXAS

Recipient	Recipient CRD Number None
James Bethea	1420104
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
Securities America, INc.	10205
Street Address 1	Street Address 2
7100 W. Center Road
City	State/Province/Country	ZIP/Postal Code
Omaha	NEBRASKA	68106
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA FLORIDA MISSISSIPPI TEXAS

Recipient	Recipient CRD Number None
James R. Wagner, Jr.	1443094
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
Capital Analysts	5478
Street Address 1	Street Address 2
303 Broadway	Suite 1500
City	State/Province/Country	ZIP/Postal Code
Cincinnati	OHIO	45202
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
DELAWARE DISTRICT OF COLUMBIA FLORIDA KANSAS MICHIGAN MISSOURI OKLAHOMA OREGON TEXAS VIRGINIA WASHINGTON WEST VIRGINIA

Recipient	Recipient CRD Number None
Eric Naison-Phillips	5155539
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
M Holdings Securities Inc.	42046
Street Address 1	Street Address 2
205 Spokane Street
City	State/Province/Country	ZIP/Postal Code
Portland	OREGON	97202
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA HAWAII ILLINOIS INDIANA KANSAS KENTUCKY MARYLAND MICHIGAN MINNESOTA MISSISSIPPI MONTANA NEVADA NEW JERSEY NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OREGON PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WYOMING

Recipient	Recipient CRD Number None
Charles R. Dudley II	845914
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
UVEST Investment Services	13787
Street Address 1	Street Address 2
200 S. College Street	21st Floor
City	State/Province/Country	ZIP/Postal Code
Charlotte	NORTH CAROLINA	28202
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ARKANSAS LOUISIANA

Recipient	Recipient CRD Number None
Bruce Hlavacek	2777274
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
The Leaders Group	37157
Street Address 1	Street Address 2
26 West Dry Creek	Suite 575
City	State/Province/Country	ZIP/Postal Code
Littleton	COLORADO	80120
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
DELAWARE MISSISSIPPI TEXAS

Recipient	Recipient CRD Number None
Carol W. Linker	1545247
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
Linsco/Private Ledger	6413
Street Address 1	Street Address 2
9785 Towne Centre Drive
City	State/Province/Country	ZIP/Postal Code
San Diego	CALIFORNIA	92121-1968
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
MAINE PENNSYLVANIA

Recipient	Recipient CRD Number None
Peter Menihan	715261
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
Cetera Advisors, LLC	10299
Street Address 1	Street Address 2
6811 Shawnee Mission Parkway	Suite 305
City	State/Province/Country	ZIP/Postal Code
Overland Park	KANSAS	66202
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
COLORADO IOWA KANSAS MISSOURI OKLAHOMA TEXAS

Recipient	Recipient CRD Number None
Thomas E. Reece	2375520
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
Transamerica Financial Advisors, Inc.	45527
Street Address 1	Street Address 2
570 Carillon Parkway
City	State/Province/Country	ZIP/Postal Code
St. Petersburg	FLORIDA	33716
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ARIZONA ARKANSAS CALIFORNIA FLORIDA GEORGIA INDIANA KENTUCKY MISSOURI NEW MEXICO OHIO PENNSYLVANIA TEXAS

Recipient	Recipient CRD Number None
David A. Soczek	2316655
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
ProEquities, Inc.	15708
Street Address 1	Street Address 2
2801 Highway 280 South
City	State/Province/Country	ZIP/Postal Code
Birmingham	ALABAMA	35223
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA ILLINOIS INDIANA IOWA KENTUCKY LOUISIANA MICHIGAN MINNESOTA MISSISSIPPI MISSOURI NEBRASKA NEW JERSEY NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OREGON

Recipient	Recipient CRD Number None
Robert C. Ernst	1039569
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
NFP Securities	42046
Street Address 1	Street Address 2
1250 Capital of Texas Highway South	Suite 2600
City	State/Province/Country	ZIP/Postal Code
Austin	TEXAS	78746
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
FLORIDA MAINE MASSACHUSETTS NEW HAMPSHIRE

Recipient	Recipient CRD Number None
Stephen L. Coale	1292536
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
Amherst Securities Group, L.P.	150696
Street Address 1	Street Address 2
2702 Cortez Drive
City	State/Province/Country	ZIP/Postal Code
Cedar Park	TEXAS	78613
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ARIZONA CALIFORNIA DISTRICT OF COLUMBIA MARYLAND MASSACHUSETTS MONTANA OKLAHOMA OREGON PENNSYLVANIA TEXAS VIRGINIA WASHINGTON

Recipient	Recipient CRD Number None
Joseph Todd Carpenter	2905361
(Associated) Broker or Dealer None	(Associated) Broker or Dealer CRD Number None
NFP Executive Benefits	42046
Street Address 1	Street Address 2
1250 Capital of Texas Parkway	Suite 2125
City	State/Province/Country	ZIP/Postal Code
Austin	TEXAS	78746
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

13. Offering and Sales Amounts

Total Offering Amount		USD	or X Indefinite
Total Amount Sold	$113,115,032	USD
Total Remaining to be Sold		USD	or X Indefinite

Clarification of Response (if Necessary):

14. Investors

Select if securities in the offering have been or may be sold to persons who do not qualify as accredited investors, and enter the number of such non-accredited investors who already have invested in the offering.

Regardless of whether securities in the offering have been or may be sold to persons who do not qualify as accredited investors, enter the total number of investors who already have invested in the offering:

62

15. Sales Commissions & Finder's Fees Expenses

Provide separately the amounts of sales commissions and finders fees expenses, if any. If the amount of an expenditure is not known, provide an estimate and check the box next to the amount.

Sales Commissions	$1,048,323	USD	Estimate
Finders' Fees	$0	USD	Estimate

Clarification of Response (if Necessary):

16. Use of Proceeds

Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above. If the amount is unknown, provide an estimate and check the box next to the amount.

$0

USD

Estimate

Clarification of Response (if Necessary):

As issuer of the variable life insurance policies, The Lincoln National Life Insurance Co. will receive amounts from charges deducted under the policies, but no executive officer, director or promoter will receive any protion of the gross offering proceed

Signature and Submission

Please verify the information you have entered and review the Terms of Submission below before signing and clicking SUBMIT below to file this notice.

Terms of Submission

In submitting this notice, each issuer named above is:

• Notifying the SEC and/or each State in which this notice is filed of the offering of securities described and undertaking to furnish them, upon written request, in the accordance with applicable law, the information furnished to offerees.*

• Irrevocably appointing each of the Secretary of the SEC and, the Securities Administrator or other legally designated officer of the State in which the issuer maintains its principal place of business and any State in which this notice is filed, as its agents for service of process, and agreeing that these persons may accept service on its behalf, of any notice, process or pleading, and further agreeing that such service may be made by registered or certified mail, in any Federal or state action, administrative proceeding, or arbitration brought against the issuer in any place subject to the jurisdiction of the United States, if the action, proceeding or arbitration (a) arises out of any activity in connection with the offering of securities that is the subject of this notice, and (b) is founded, directly or indirectly, upon the provisions of:  (i) the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, or the Investment Advisers Act of 1940, or any rule or regulation under any of these statutes, or (ii) the laws of the State in which the issuer maintains its principal place of business or any State in which this notice is filed.

• Certifying that, if the issuer is claiming a Regulation D exemption for the offering, the issuer is not disqualified from relying on Rule 504 or Rule 506 for one of the reasons stated in Rule 504(b)(3) or Rule 506(d).

Each Issuer identified above has read this notice, knows the contents to be true, and has duly caused this notice to be signed on its behalf by the undersigned duly authorized person.

For signature, type in the signer's name or other letters or characters adopted or authorized as the signer's signature.

Issuer	Signature	Name of Signer	Title	Date
Lincoln Life Separate Account BL2 of the Lincoln National Life Insurance Co	/s/Carolyn Augur	Carolyn Augur	Assistant Vice President, Senior Counsel	2022-12-13

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

* This undertaking does not affect any limits Section 102(a) of the National Securities Markets Improvement Act of 1996 ("NSMIA") [Pub. L. No. 104-290, 110 Stat. 3416 (Oct. 11, 1996)] imposes on the ability of States to require information. As a result, if the securities that are the subject of this Form D are "covered securities" for purposes of NSMIA, whether in all instances or due to the nature of the offering that is the subject of this Form D, States cannot routinely require offering materials under this undertaking or otherwise and can require offering materials only to the extent NSMIA permits them to do so under NSMIA's preservation of their anti-fraud authority.