Lincoln National (LNC) 10-K 25 Feb 10 2009 FY Annual report Financial data

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)
In Millions	Dec. 31, 2009	Dec. 31, 2008
Available-for-sale securities, at fair value:
Fixed maturity (amortized cost: 2009 - $60,757; 2008 - $54,381)	$60,818	$48,141
Equity (cost: 2009 - $382; 2008 - $428)	278	254
Trading securities	2,505	2,333
Mortgage loans on real estate	7,178	7,715
Real estate	174	125
Policy loans	2,898	2,921
Derivative investments	1,010	3,397
Other investments	1,057	1,624
Total investments	75,918	66,510
Cash and invested cash	4,025	5,588
Deferred acquisition costs and value of business acquired	9,510	11,402
Premiums and fees receivable	321	449
Accrued investment income	889	814
Reinsurance recoverables	6,426	8,396
Reinsurance related embedded derivatives	0	31
Goodwill	3,013	3,696
Other assets	3,831	10,595
Separate account assets	73,500	55,655
Total assets	177,433	163,136
Liabilities
Future contract benefits	15,287	18,431
Other contract holder funds	64,818	60,570
Short-term debt	350	815
Long-term debt	5,050	4,731
Reinsurance related embedded derivatives	31	0
Funds withheld reinsurance liabilities	1,261	2,042
Deferred gain on business sold through reinsurance	543	619
Payables for collateral on investments	1,907	3,706
Other liabilities	2,986	8,590
Separate account liabilities	73,500	55,655
Total liabilities	165,733	155,159
Stockholders' Equity
Series A preferred stock - 10,000,000 shares authorized; 11,497 and 11,565 shares issued and outstanding as of December 31, 2009, and December 31, 2008, respectively	0	0
Series B preferred stock - 950,000 shares authorized and outstanding as of December 31, 2009	806	0
Common stock - 800,000,000 shares authorized; 302,223,281 and 255,869,859 shares issued and outstanding as of December 31, 2009, and December 31, 2008, respectively	7,840	7,035
Retained earnings	3,316	3,745
Accumulated other comprehensive loss	(262)	(2,803)
Total stockholders' equity	11,700	7,977
Total liabilities and stockholders' equity	$177,433	$163,136

PARENTHETICAL DATA TO THE CONSO

PARENTHETICAL DATA TO THE CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, except Share data	Dec. 31, 2009	Dec. 31, 2008
Available-for-sale securities, at fair value:
Fixed maturity available-for-sale securities, at amortized cost	$60,757	$54,381
Equity available-for-sale securities, at cost	$382	$428
Stockholders' Equity
Series A preferred stock - shares authorized (in shares)	10,000,000	10,000,000
Series A preferred stock - shares issued and outstanding (in shares)	11,497	11,565
Series B preferred stock - shares authorized and outstanding (in shares)	950,000	0
Common stock - shares authorized (in shares)	800,000,000	800,000,000
Common stock - shares issued and outstanding (in shares)	302,223,281	255,869,859

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (LOSS) (USD $)
In Millions, except Per Share data	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Revenues
Insurance premiums	$2,064	$2,018	$1,852
Insurance fees	2,922	3,067	2,996
Net investment income	4,178	4,130	4,297
Realized loss:
Total other-than-temporary impairment losses on securities	(667)	(851)	(261)
Portion of loss recognized in other comprehensive income	275	0	0
Net other-than-temporary impairment losses on securities recognized in earnings	(392)	(851)	(261)
Realized gain (loss), excluding other-than-temporary impairment losses on securities	(754)	316	86
Total realized loss	(1,146)	(535)	(175)
Amortization of deferred gain on business sold through reinsurance	76	76	84
Other revenues and fees	405	468	560
Total revenues	8,499	9,224	9,614
Benefits and Expenses
Interest credited	2,463	2,502	2,435
Benefits	2,836	3,059	2,425
Underwriting, acquisition, insurance and other expenses	2,794	3,138	2,795
Interest and debt expense	197	281	284
Impairment of intangibles	730	381	0
Total benefits and expenses	9,020	9,361	7,939
Income (loss) from continuing operations before taxes	(521)	(137)	1,675
Federal income tax expense (benefit)	(106)	(127)	476
Income (loss) from continuing operations	(415)	(10)	1,199
Income (loss) from discontinued operations, net of federal income taxes	(70)	67	16
Net income (loss)	(485)	57	1,215
Preferred stock dividends and accretion of discount	(35)	0	0
Net income (loss) available to common stockholders	($520)	$57	$1,215
Earnings (Loss) Per Common Share - Basic
Income (loss) from continuing operations	-1.6	-0.04	4.44
Income (loss) from discontinued operations	-0.25	0.26	0.06
Net income (loss)	-1.85	0.22	4.5
Earnings (Loss) Per Common Share - Diluted
Income (loss) from continuing operations	-1.6	-0.04	4.37
Income (loss) from discontinued operations	-0.25	0.26	0.06
Net income (loss)	-1.85	0.22	4.43

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)
In Millions	Preferred Stock [Member]	Common Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Total stockholders' equity as of end-of-year at Dec. 31, 2006	$1	$7,449	$4,138	$613
Conversion of Series A preferred stock	(1)	1
Issuance of Series B preferred stock	0
Accretion of discount on Series B preferred stock	0		0
Issued for acquisition		20
Issuance of common stock		0
Issuance of common stock warrant		0
Stock compensation/issued for benefit plans		139
Deferred compensation payable in stock		6
Retirement of common stock/cancellation of shares		(415)
Cumulative effect from adoption of new accounting standards			(56)	0
Comprehensive income (loss)			827
Other comprehensive income (loss), net of tax			388	(388)
Net income (loss)			1,215		1,215
Retirement of common stock			(574)
Dividends declared: Common (2009 - $0.040; 2008 - $1.455; 2007- $1.600)			(430)
Dividends on preferred stock			0
Balance as of end-of-year at Dec. 31, 2007	0	7,200	4,293	225	11,718
Conversion of Series A preferred stock	0	0
Issuance of Series B preferred stock	0
Accretion of discount on Series B preferred stock	0		0
Issued for acquisition		0
Issuance of common stock		0
Issuance of common stock warrant		0
Stock compensation/issued for benefit plans		78
Deferred compensation payable in stock		6
Retirement of common stock/cancellation of shares		(249)
Cumulative effect from adoption of new accounting standards			(4)	0
Comprehensive income (loss)			(2,971)
Other comprehensive income (loss), net of tax			3,028	(3,028)
Net income (loss)			57		57
Retirement of common stock			(227)
Dividends declared: Common (2009 - $0.040; 2008 - $1.455; 2007- $1.600)			(374)
Dividends on preferred stock			0
Balance as of end-of-year at Dec. 31, 2008	0	7,035	3,745	(2,803)	7,977
Conversion of Series A preferred stock	0	0
Issuance of Series B preferred stock	794
Accretion of discount on Series B preferred stock	12		(12)
Issued for acquisition		0
Issuance of common stock		652
Issuance of common stock warrant		156
Stock compensation/issued for benefit plans		(8)
Deferred compensation payable in stock		5
Retirement of common stock/cancellation of shares		0
Cumulative effect from adoption of new accounting standards			102	(102)
Comprehensive income (loss)			2,158
Other comprehensive income (loss), net of tax			(2,643)	2,643
Net income (loss)			(485)		(485)
Retirement of common stock			0
Dividends declared: Common (2009 - $0.040; 2008 - $1.455; 2007- $1.600)			(11)
Dividends on preferred stock			(23)
Balance as of end-of-year at Dec. 31, 2009	$806	$7,840	$3,316	($262)	$11,700

1_PARENTHETICAL DATA TO THE CON

PARENTHETICAL DATA TO THE CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)
	1/1/2009 - 12/31/2009	1/1/2008 - 12/31/2008	1/1/2007 - 12/31/2007
Statement of Stockholders' Equity [Abstract]
Common dividends declared per share	0.04	1.455	1.6

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Cash Flows from Operating Activities
Net income (loss)	($485)	$57	$1,215
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Deferred acquisition costs, value of business acquired, deferred sales inducements and deferred front end loads deferrals and interest, net of amortization	(316)	(262)	(893)
Trading securities purchases, sales and maturities, net	(3)	205	352
Change in premiums and fees receivable	313	69	21
Change in accrued investment income	(75)	11	23
Change in future contract benefits	(953)	1,073	649
Change in other contract holder funds	305	(2)	177
Change in reinsurance related assets and liabilities	77	(346)	(155)
Change in federal income tax accruals	9	(504)	585
Realized loss	1,146	535	175
Loss (gain) on disposal of discontinued operations	219	12	(57)
Gain on early extinguishment of debt	(64)	0	0
Impairment of intangibles	730	381	0
Amortization of deferred gain on business sold through reinsurance	(76)	(76)	(84)
Other	110	106	(53)
Net cash provided by operating activities	937	1,259	1,955
Cash Flows from Investing Activities
Purchases of available-for-sale securities	(13,532)	(6,800)	(12,299)
Sales of available-for-sale securities	3,818	2,285	6,825
Maturities of available-for-sale securities	3,330	3,881	4,202
Purchases of other investments	(4,261)	(3,510)	(2,568)
Sales or maturities of other investments	4,340	3,613	2,110
Increase (decrease) in payables for collateral on investments	(1,799)	2,571	(369)
Proceeds from sale of subsidiaries/businesses	327	648	64
Other	(75)	(117)	74
Net cash provided by (used in) investing activities	(7,852)	2,571	(1,961)
Cash Flows from Financing Activities
Payment of long-term debt, including current maturities	(522)	(300)	(658)
Issuance of long-term debt, net of issuance costs	788	450	1,422
Increase (decrease) in commercial paper, net	(216)	50	265
Deposits of fixed account values, including the fixed portion of variable	11,378	9,840	9,519
Withdrawals of fixed account values, including the fixed portion of variable	(5,530)	(5,998)	(6,733)
Transfers to and from separate accounts, net	(2,248)	(2,204)	(2,448)
Payment of funding agreements	0	(550)	0
Common stock issued for benefit plans and excess tax benefits	0	49	98
Issuance of Series B preferred stock and associated common stock warrant	950	0	0
Issuance of common stock	652	0	0
Repurchase of common stock	0	(476)	(986)
Dividends paid to common and preferred stockholders	(79)	(430)	(430)
Net cash provided by financing activities	5,173	431	49
Net increase (decrease) in cash and invested cash, including discontinued operations	(1,742)	4,261	43
Cash and invested cash, including discontinued operations, as of beginning-of-year	5,926	1,665	1,622
Cash and invested cash, including discontinued operations, as of end-of-year	$4,184	$5,926	$1,665

Nature of Operations, Basis of

Nature of Operations, Basis of Presentation and Summary of Significant Accounting Policies
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Nature of Operations, Basis of Presentation and Summary of Significant Accounting Policies Disclosure [Text Block]	1.Nature of Operations, Basis of Presentation and Summary of Significant Accounting Policies Nature of Operations Lincoln National Corporation and its majority-owned subsidiaries (LNC or the Company, which also may be referred to as we, our or us) operate multiple insurance businesses through four business segments.See Note 23 for additional details.The collective group of businesses uses Lincoln Financial Group as its marketing identity.Through our business segments, we sell a wide range of wealth protection, accumulation and retirement income products.These products include institutional and/or retail fixed and indexed annuities, variable annuities, universal life (UL) insurance, variable universal life (VUL) insurance, term life insurance and mutual funds. Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with United States of America generally accepted accounting principles (GAAP).Certain GAAP policies, which significantly affect the determination of financial position, results of operations and cash flows, are summarized below. Certain amounts reported in prior years consolidated financial statements have been reclassified to conform to the presentation adopted in the current year.These reclassifications had no effect on net income or stockholders equity of the prior years. Summary of Significant Accounting Policies Principles of ConsolidationThe accompanying consolidated financial statements include the accounts of LNC and all other entities in which we have a controlling financial interest and any variable interest entities (VIEs) in which we are the primary beneficiary.Entities in which we do not have a controlling financial interest and do not exercise significant management influence over the operating and financing decisions are reported using the equity method.The carrying value of our investments that we account for using the equity method on our Consolidated Balance Sheets and equity in earnings on our Consolidated Statements of Income (Loss) is not material.All material inter-company accounts and transactions have been eliminated in consolidation.See Note 4 for additional discussion on our VIEs. Accounting Estimates and Assumptions The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions affecting the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses for the reporting period.Those estimates are inherently subject to change and actual results could differ from those estimates.Included among the material (or potentially material) reported amounts and disclosures that require extensive use of estimates are:fair value of certain invested assets and derivatives, asset valuation allowances, deferred acquisition costs (DAC), value of business acquired (VOBA), deferred sales inducements (DSI), goodwill, future contract benefits, other contract holder funds which includes deferred front-end loads (DFEL), pension plans, income taxes and the potential effects o

New Accounting Standards

New Accounting Standards
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	2.New Accounting Standards Adoption of New Accounting Standards In June 2009, the Financial Accounting Standards Board (FASB) amended the current hierarchy of GAAP, and identified the FASB Accounting Standards CodificationTM (ASC) as the single source of authoritative GAAP recognized by the FASB.Although the FASB ASC did not change current GAAP, it superseded all existing non-Securities and Exchange Commission (SEC)accounting and reporting standards as of the effective date.The accounting guidance in the FASB ASC is organized by topical reference, with all the contents having the same level of authority.We adopted the FASB ASC as of September 30, 2009, and have revised all of the referencing of GAAP accounting standards in this filing to reflect the appropriate references in the new FASB ASC. Business Combinations Topic In December 2007, the FASB revised the accounting guidance related to the Business Combinations Topic of the FASB ASC.This revised accounting guidance retained the fundamental requirements for recognizing a business combination, but established revised principles and requirements for the acquirer in a business combination to measure and recognize the acquisition-date fair values of identifiable assets acquired, liabilities assumed and any noncontrolling interests in the acquiree.In addition, goodwill is measured as the excess of the consideration transferred, plus the fair value of any noncontrolling interest in the acquiree, in excess of the fair values of the identifiable net assets acquired.Any contingent consideration is recognized at the acquisition-date fair value, acquisition costs must be expensed in the period the costs are incurred and financial statement disclosures were enhanced to provide users with information to evaluate the nature and financial effects of the business combination.We adopted these revisions for acquisitions occurring after January 1, 2009.The adoption did not have a material impact on our consolidated financial condition or results of operations. In April 2009, the FASB further amended the guidance in the Business Combinations Topic related to the recognition and measurement of contingencies acquired in a business combination.Contingent assets acquired and liabilities assumed (jointly referred to as pre-acquisition contingencies) in a business combination are measured as of the acquisition-date fair value only if fair value can be determined during the measurement period.If the fair value cannot be determined during the measurement period, but information is available as of the end of the measurement period indicating the pre-acquisition contingency is both probable and can be reasonably estimated, then the pre-acquisition contingency is recognized as of the acquisition date based on the estimated amount.Subsequent to the acquisition date, the measurement of pre-acquisition contingencies is dependent on the nature of the contingency.We adopted these amendments for acquisitions occurring after January 1, 2009.The adoption did not have a material impact on our consolidated financial condition or results of operations. Compensation Retirement Benefits Topic In March2007, the

Acquisitions and Dispositions

Acquisitions and Dispositions
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Schedule of Business Acquisitions, by Acquisition and Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	3.Acquisitions and Dispositions Acquisitions Newton County Loan Savings, FSB (NCLS) On January 8, 2009, the Office of Thrift Supervision approved our application to become a savings and loan holding company and our acquisition of NCLS, a federally regulated savings bank located in Indiana.We contributed $10 million to the capital of NCLS.We closed on our purchase of NCLS on January 15, 2009, which did not have a material impact on our consolidated financial condition or results of operations. Dispositions Discontinued Investment Management Operations On August18, 2009, we entered into a purchase and sale agreement with Macquarie Bank Limited (MBL), pursuant to which we agreed to sell to MBL all of the outstanding capital stock of Delaware Management Holdings, Inc. (Delaware), our subsidiary, which provides investment products and services to individuals and institutions.This transaction closed on January 4, 2010. In addition, certain of our subsidiaries, including LNL, our primary insurance subsidiary, entered into investment advisory agreements with Delaware, pursuant to which Delaware will continue to manage the majority of the general account insurance assets of the subsidiaries.The investment advisory agreements will have10-year terms, and we may terminate them without cause, subject toa purchase price adjustment of up to $84 million in the event that all of the agreements with our subsidiaries are terminated.The amount of the potential adjustment will decline on a pro rata basis over the10-year term of the advisory agreements. Accordingly, the assets and liabilities of this business have been reclassified as held-for-sale for all periods presented and are reported within other assets and other liabilities on our Consolidated Balance Sheets.The major classes of assets and liabilities held-for-sale (in millions) were as follows: As of December 31, 2009 2008 Assets Cash and invested cash $ 159 $ 166 Premiums and fees receivable 39 32 Goodwill 248 248 Other assets 61 76 Total assets held-for-sale $ 507 $ 522 Liabilities Other liabilities $ 116 $ 153 Total liabilities held-for-sale $ 116 $ 153 We have reclassified the results of operations of Delaware into income (loss) from discontinued operations for all periods presented on our Consolidated Statements of Income (Loss), and selected amounts (in millions) were as follows: For the Years Ended December 31, 2009 2008 2007 Discontinued Operations Before Disposal Revenues: Investment advisory fees - external $ 207 $ 268 $ 360 Investment advisory fees - internal 84 82 87 Other revenues and fees 91 87 143 Gain on sale of business 9 9 6 Total revenues $ 391 $ 446 $ 596 Income from discontinued operations before disposal, before federal income tax expense $ 37 $ 53 $ 126 Federal income tax expense

Variable Interest Entities

Variable Interest Entities
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Schedule of Variable Interest Entities [Text Block]	4.Variable Interest Entities Our involvement with VIEs is primarily to obtain financing and to invest in assets that allow us to gain exposure to a broadly diversified portfolio of asset classes.We have carefully analyzed each VIE to determine whether we are the primary beneficiary.Based on our analysis of the expected losses and residual returns of the VIEs in which we have a variable interest, we have concluded that there are no VIEs for which we are the primary beneficiary, and, as such, we have not consolidated the VIEs in our consolidated financial statements.However, for those VIEs in which we are not the primary beneficiary, but hold a variable interest, we recognize the fair value of our variable interest on our consolidated financial statements. Information (in millions) included on our Consolidated Balance Sheets for those VIEs where we had significant variable interest and where we were a sponsor was as follows: As of December 31, 2009 As of December 31, 2008 Maximum Maximum Total Total Loss Total Total Loss Assets Liabilities Exposure Assets Liabilities Exposure Affiliated trust $ 5 $ - $ - $ 5 $ - $ - Credit-linked notes 322 - 600 50 - 600 Affiliated Trust We are the sponsor of an affiliated trust, Lincoln National Capital Trust VI, which was formed solely for the purpose of issuing trust preferred securities and lending the proceeds to us.We own the common securities of this trust, approximately a 3% ownership, and the only assets of the trust are the junior subordinated debentures issued by us.Our common stock investment in this trust was financed by the trust and is reported in other investments on our Consolidated Balance Sheets.Distributions are paid by the trust to the preferred security holders on a quarterly basis and the principal obligations of the trust are irrevocably guaranteed by us.Upon liquidation of the trust, the holders of the preferred securities are entitled to a fixed amount per share plus accumulated and unpaid distributions.We reserve the right to redeem the preferred securities at a fixed price plus accumulated and unpaid distributions and defer the interest payments due on the subordinated debentures for up to 20 consecutive quarters, but not beyond the maturity date of the subordinated debenture. Our common stock investment does not represent a significant variable interest in the trust, as we do not receive any distributions or absorb any losses from the trust.In addition, our guarantee of the principal obligations of the trust does not represent a variable interest, as we are guaranteeing our own performance.Therefore, we are not the primary beneficiary and do not consolidate the trust.Since our investment in the common stock of the trust was financed directly by the trust, we do not have any equity investment at risk, and, therefore, do not have exposure to loss from the trust. Credit-Linked Notes We invested in two CLNs where the note holders do not have voting rights or de

Investments

Investments
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Investments	5.Investments AFS Securities Pursuant to the Fair Value Measurements and Disclosures Topic of the FASB ASC, we have categorized AFS securities into a three-level hierarchy, based on the priority of the inputs to the respective valuation technique.The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level1)and the lowest priority to unobservable inputs (Level3), as described in Note 1, which also includes additional disclosures regarding our fair value measurements. The amortized cost, gross unrealized gains, losses and OTTI and fair value of AFS securities (in millions) were as follows: As of December 31, 2009 Amortized Gross Unrealized Fair Cost Gains Losses OTTI (1) Value Fixed Maturity Securities Corporate bonds $ 44,307 $ 2,260 $ 1,117 $ 71 $ 45,379 U.S. Government bonds 186 13 4 - 195 Foreign government bonds 488 26 9 - 505 MBS: CMOs 6,112 258 307 157 5,906 MPTS 3,028 64 26 - 3,066 CMBS 2,436 49 354 - 2,131 ABS: CDOs 189 11 33 9 158 CLNs 600 - 278 - 322 State and municipal bonds 2,009 14 55 - 1,968 Hybrid and redeemable preferred securities 1,402 36 250 - 1,188 Total fixed maturity securities 60,757 2,731 2,433 237 60,818 Equity Securities Banking securities 266 - 119 - 147 Insurance securities 44 2 - - 46 Other financial services securities 22 12 6 - 28 Other securities 50 7 - - 57 Total equity securities 382 21 125 - 278 Total AFS securities $ 61,139 $ 2,752 $ 2,558 $ 237 $ 61,096 (1) This amount is comprised of the gross unrealized OTTI cumulative effect adjustment as discussed in Note 2 and the amount reflected on our Consolidated Statements of Income (Loss) during the year ended December 31, 2009 adjusted for other changes, including but not limited to, sales of fixed maturity AFS securities. As of December 31, 2008 Amortized Gross Unrealized Fair Cost Gains Losses OTTI Value Fixed Maturity Securities Corporate bonds $ 39,773 $ 638 $ 4,463 $ - $ 35,948 U.S. Government bonds 204 42 - - 246 Foreign government bonds 532 37 49 - 520 MBS: CMOs 6,918 174 780 - 6,312 MPTS 1,875 62 38 - 1,899 CMBS 2,535 9 625 - 1,919 ABS: CDOs 256 7

Derivative Instruments

Derivative Instruments
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	6.Derivative Instruments Types of Derivative Instruments and Derivative Strategies We maintain an overall risk management strategy that incorporates the use of derivative instruments to minimize significant unplanned fluctuations in earnings that are caused by interest rate risk, foreign currency exchange risk, basis risk, equity market risk and credit risk.We assess these risks by continually identifying and monitoring changes in interest rate exposure, foreign currency exposure, equity market exposure and credit exposure that may adversely impact expected future cash flows and by evaluating hedging opportunities.Derivative instruments that are used as part of our interest rate risk management strategy include interest rate swap agreements, interest rate futures, interest rate cap agreements, forward-starting interest rate swaps and treasury locks.Derivative instruments that are used as part of our foreign currency risk management strategy include foreign currency swaps, currency futures and foreign currency forwards.Call options based on our stock, call options based on the Standard Poors (SP) 500 Index (SP 500), total return swaps, variance swaps, equity collars, put options and equity futures are used as part of our equity market risk management strategy.We also use credit default swaps as part of our credit risk management strategy. We evaluate and recognize our derivative instruments in accordance with the Derivatives and Hedging Topic of the FASB ASC.As of December 31, 2009, we had derivative instruments that were designated and qualifying as cash flow hedges, fair value hedges and the hedge of a net investment in a foreign subsidiary.We also had embedded derivatives that did not qualify as hedging instruments and derivative instruments that were economic hedges, but were not designed to meet the requirements to be accounted for as a hedge.See Note 1 for a detailed discussion of the accounting treatment for derivative instruments. Our derivative instruments are monitored by our Asset Liability Management Committee and our Equity Risk Management Committee as part of those committees oversight of our derivative activities.Our committees are responsible for implementing various hedging strategies that are developed through their analysis of financial simulation models and other internal and industry sources.The resulting hedging strategies are incorporated into our overall risk management strategies. We use a hedging strategy designed to mitigate the risk and income statement volatility caused by changes in the equity markets, interest rates and volatility associated with living benefit guarantees offered in our variable annuity products, including the Lincoln SmartSecurity Advantage GWB feature, the 4LATER Advantage GIB feature and the i4LIFE Advantage GIB feature.See Guaranteed Living Benefit Embedded Derivative Reserves below for further details. See Note 22 for disclosures required by the Fair Value Measurements and Disclosures Topic of the FASB ASC. We have derivative instruments with off-balance-sheet risks whose notional or contract amounts exceed the credit exposure.Outstanding derivative instruments with

Federal Income Taxes

Federal Income Taxes
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Income Tax Disclosure [Text Block]	7.Federal Income Taxes The federal income tax expense (benefit) on continuing operations (in millions) was as follows: For the Years Ended December 31, 2009 2008 2007 Current $ (751 ) $ 452 $ 418 Deferred 645 (579 ) 58 Total federal tax expense (benefit) $ (106 ) $ (127 ) $ 476 A reconciliation of the effective tax rate differences (in millions) was as follows: For the Years Ended December 31, 2009 2008 2007 Tax rate times pre-tax income $ (182 ) $ (48 ) $ 586 Effect of: Tax-preferred investment income (92 ) (81 ) (105 ) Tax credits (46 ) (25 ) (21 ) Goodwill 238 58 - Prior year tax return adjustment (60 ) (35 ) (13 ) Other items 36 4 29 Provision for income taxes $ (106 ) $ (127 ) $ 476 Effective tax rate 20 % N/M 28 % The effective tax rate is a ratio of tax expense over pre-tax income (loss).Because the pre-tax loss of $137 million resulted in a tax benefit of $127 million in 2008, the effective tax rate was not meaningful.The effective tax rate on pre-tax income (loss) from continuing operations was lower than the prevailing corporate federal income tax rate.Included in tax-preferred investment income was a separate account dividend received deduction benefit of $77 million, $81 million and $88 million for the years ended December 31, 2009, 2008 and 2007, respectively, exclusive of any prior years tax return adjustment. The federal income tax asset (liability) (in millions), which is included in other liabilities as of December 31, 2009, and other assets as of December 31, 2008, on our Consolidated Balance Sheets, was as follows: As of December 31, 2009 2008 Current $ (191 ) $ (729 ) Deferred (351 ) 1,678 Total federal income tax asset (liability) $ (542 ) $ 949 Significant components of our deferred tax assets and liabilities (in millions) were as follows: As of December 31, 2009 2008 Deferred Tax Assets Future contract benefits and other contract holder funds $ 1,833 $ 2,334 Deferred gain on business sold through reinsurance 172 190 Net unrealized loss on AFS securities 8 2,248 Reinsurance related embedded derivative asset 11 - Investments 170 241 Compensation and benefit plans 278 324 Ceding commission asset 3 5 Net operating loss 37 - Net capital loss 112 - Other 144 46 Net deferred tax assets 2,768 5,388 Deferred Tax Liabilities DAC 1,949 2,030 VOBA 734 1,317 Net unrealized gain on trading securities 57 9 Reinsurance related embedded derivative liability - 11 Intangibles 178 179 Other 201 164 Total deferred tax liabilities 3,119 3,710 Net deferred tax asset (liability) $

DAC, VOBA, DSI and DFEL

DAC, VOBA, DSI and DFEL
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
DAC, VOBA, DSI and DFEL Disclosure [Text Block]	8.DAC, VOBA, DSI and DFEL During the fourth quarter of 2008, we recorded a decreaseto income from continuing operations totaling $263 million or $1.01 per diluted share, for a reversion to the mean prospective unlocking of DAC, VOBA, DSI and DFEL as a result of significant and sustained declines in the equity markets during 2008.During 2009, we did not have a reversion to the mean prospective unlocking of DAC, VOBA, DSI and DFEL.The pre-tax impact forthese itemsis included within the prospective unlocking line items in the changes in DAC, VOBA, DSI and DFEL tables below. Changes in DAC (in millions) were as follows: For the Years Ended December 31, 2009 2008 2007 Balance as of beginning-of-year $ 7,640 $ 5,999 $ 4,579 Cumulative effect of the adoption of new accounting standards - - (31 ) Transfer of business to a third party (37 ) - - Deferrals 1,621 1,814 2,007 Amortization, net of interest: Prospective unlocking - assumption changes (15 ) (368 ) 27 Prospective unlocking - model refinements - 44 (50 ) Retrospective unlocking 19 (136 ) 64 Other amortization, net of interest (746 ) (672 ) (780 ) Adjustment related to realized gains (losses) 148 (203 ) 80 Adjustment related to unrealized gains (losses) (1,206 ) 1,162 103 Balance as of end-of-year $ 7,424 $ 7,640 $ 5,999 Changes in VOBA (in millions) were as follows: For the Years Ended December 31, 2009 2008 2007 Balance as of beginning-of-year $ 3,762 $ 2,809 $ 3,033 Cumulative effect of the adoption of new accounting standards - - (35 ) Business acquired - - 14 Transfer of business to a third party (255 ) - - Deferrals 30 40 46 Amortization: Prospective unlocking - assumption changes (20 ) (7 ) 13 Prospective unlocking - model refinements - 6 (2 ) Retrospective unlocking (44 ) (38 ) 13 Other amortization (349 ) (335 ) (422 ) Accretion of interest 102 116 125 Adjustment related to realized gains 43 98 - Adjustment related to unrealized gains (losses) (1,183 ) 1,073 24 Balance as of end-of-year $ 2,086 $ 3,762 $ 2,809 Estimated future amortization of VOBA, net of interest (in millions), as of December 31, 2009, was as follows: 2010 $ 246 2011 207 2012 185 2013 167 2014 139 Thereafter 1,260 Total $ 2,204 Changes in DSI (in millions) were as follows: For the Years Ended December 31, 2009 2008 2007 Balance as of beginning-of-year $ 263 $ 279 $ 194 Cumulative effect of the adoption of new accounting standards - - (3 ) Deferrals 76 96 116 Amortization, net of interest:

Reinsurance

Reinsurance
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Reinsurance Disclosure [Text Block]	9.Reinsurance The following summarizes reinsurance amounts (in millions) recorded on our Consolidated Statements of Income (Loss), excluding amounts attributable to the indemnity reinsurance transaction with Swiss Re: For the Years Ended December 31, 2009 2008 2007 Direct insurance premiums and fees $ 6,124 $ 6,071 $ 5,769 Reinsurance assumed 10 18 12 Reinsurance ceded (1,148 ) (1,004 ) (933 ) Total insurance premiums and fees, net $ 4,986 $ 5,085 $ 4,848 Direct insurance benefits $ 3,893 $ 4,134 $ 3,457 Reinsurance recoveries netted against benefits (1,057 ) (1,075 ) (1,032 ) Total benefits, net $ 2,836 $ 3,059 $ 2,425 Our insurance companies cede insurance to other companies.The portion of risks exceeding each companys retention limit is reinsured with other insurers.We seek reinsurance coverage within the businesses that sell life insurance and annuities in order to limit our exposure to mortality losses and enhance our capital management. Under our reinsurance program, we reinsure approximately 45% to 50% of the mortality risk on newly issued non-term life insurance contracts and approximately 30% to 35% of total mortality risk including term insurance contracts.Our policy for this program is to retain no more than $10 million on a single insured life issued on fixed and VUL insurance contracts.Additionally, the retention per single insured life for term life insurance and for corporate-owned life insurance is $2 million for each type of insurance.Portions of our deferred annuity business have been reinsured on a Modco basis with other companies to limit our exposure to interest rate risks.As of December 31, 2009, the reserves associated with these reinsurance arrangements totaled $995 million.To cover products other than life insurance, we acquire other insurance coverages with retentions and limits. We obtain reinsurance from a diverse group of reinsurers, and we monitor concentration as well as financial strength ratings of our principal reinsurers.Our reinsurance operations were acquired by Swiss Re in December 2001, through a series of indemnityreinsurance transactions.Swiss Re represents our largest reinsurance exposure.Under the indemnity reinsurance agreements, Swiss Re reinsured certain of our liabilities and obligations.As we are not relieved of our legal liability to the ceding companies, the liabilities and obligations associated with the reinsured contracts remain on our Consolidated Balance Sheets with a corresponding reinsurance receivable from Swiss Re, which totaled $3.0 billion as of December 31, 2009.Swiss Re has funded a trust, with a balance of $1.9 billion as of December 31, 2009, to support this business.As a result of Swiss Res SP financial strength rating dropping below AA-, Swiss Re was required to fund an additional trust of approximately $1.4 billion as of December 31, 2009, to support this business. Swiss Re funded the new trust during the fourth quarter of 2009.In addition to various remedies that we would have in the

Goodwill and Specifically Ident

Goodwill and Specifically Identifiable Intangible Assets
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Goodwill and Specifically Identifiable Intangible Assets Disclosure [TextBlock]	10.Goodwill and Specifically Identifiable Intangible Assets The changes in the carrying amount of goodwill (in millions) by reportable segment were as follows: For the Year Ended December 31, 2009 Acquisition Cumulative Balance As Impairment As Acquisition Dispositions Balance of Beginning- of Beginning- Accounting and As of End- of-Year of-Year Adjustments Impairment Other of-Year Retirement Solutions: Annuities $ 1,040 $ - $ - $ (600 ) $ - $ 440 Defined Contribution 20 - - - - 20 Insurance Solutions: Life Insurance 2,188 - - - - 2,188 Group Protection 274 - - - - 274 Other Operations 338 (164 ) 1 (80 ) (4 ) 91 Total goodwill $ 3,860 $ (164 ) $ 1 $ (680 ) $ (4 ) $ 3,013 For the Year Ended December 31, 2008 Acquisition Cumulative Balance As Impairment As Acquisition Dispositions Balance of Beginning- of Beginning- Accounting and As of End- of-Year of-Year Adjustments Impairment Other of-Year Retirement Solutions: Annuities $ 1,046 $ - $ (6 ) $ - $ - $ 1,040 Defined Contribution 20 - - - - 20 Insurance Solutions: Life Insurance 2,201 - (13 ) - - 2,188 Group Protection 274 - - - - 274 Other Operations 339 - (1 ) (164 ) - 174 Total goodwill $ 3,880 $ - $ (20 ) $ (164 ) $ - $ 3,696 Included in the acquisition accounting adjustments above were adjustments related to income tax deductions recognized when stock options attributable to mergers were exercised or the release of unrecognized tax benefits acquired through mergers. For our acquisition of NCLS, during 2009, we impaired the estimated goodwill that arose from the acquisition after giving consideration to the expected financial performance and other relevant factors of this business. We perform a Step 1 goodwill impairment analysis on all of our reporting units at least annually on October 1.The Step 1 analysis for the reporting units within our Insurance Solutions and Retirement Solutions segments utilizes primarily a discounted cash flow valuation technique.In determining the estimated fair value of these reporting units, we incorporate consideration of discounted cash flow calculations, the level of our own share price and assumptions that market participants would make in valuing these reporting units.Our fair value estimations are based primarily on an in-depth analysis of projected future cash flows and relevant d

Guaranteed Benefit Features

Guaranteed Benefit Features
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Schedule of Minimum Guaranteed Benefit Liabilities [Text Block]	11.Guaranteed Benefit Features Information on the GDB features outstanding (dollars in millions) was as follows (our variable contracts with guarantees may offer more than one type of guarantee in each contract; therefore, the amounts listed are not mutually exclusive): As of December 31, 2009 2008 Return of Net Deposits Total account value $ 44,712 $ 33,907 Net amount at risk (1) 1,888 6,337 Average attained age of contract holders 57 years 56 years Minimum Return Total account value $ 203 $ 191 Net amount at risk (1) 65 109 Average attained age of contract holders 69 years 68 years Guaranteed minimum return 5 % 5 % Anniversary Contract Value Total account value $ 21,431 $ 16,950 Net amount at risk (1) 4,021 8,402 Average attained age of contract holders 65 years 65 years (1) Represents the amount of death benefit in excess of the account balance.The decrease in net amount at risk when comparing December 31, 2009, to December 31, 2008, was attributable primarily to the rise in equity markets and associated increase in the account values. The determination of GDB liabilities is based on models that involve a range of scenarios and assumptions, including those regarding expected market rates of return and volatility, contract surrender rates and mortality experience.The following summarizes the balances of and changes in the liabilities for GDB (in millions), which were recorded in future contract benefits on our Consolidated Balance Sheets: For the Years Ended December 31, 2009 2008 2007 Balance as of beginning-of-year $ 277 $ 38 $ 23 Cumulative effect of the adoption of new accounting standards - - (4 ) Changes in reserves (33 ) 312 25 Benefits paid (173 ) (73 ) (6 ) Balance as of end-of-year $ 71 $ 277 $ 38 Account balances of variable annuity contracts with guarantees (in millions) were invested in separate account investment options as follows: As of December 31, 2009 2008 Asset Type Domestic equity $ 32,489 $ 24,878 International equity 12,379 9,204 Bonds 9,942 6,701 Money market 6,373 5,802 Total $ 61,183 $ 46,585 Percent of total variable annuity separate account values 97 % 99 % Future contract benefits also include reserves for our products with secondary guarantees for our products sold through our Insurance Solutions Life Insurance segment.These UL and VUL products with secondary guarantees represented approximately40% of permanent life insurance in force as ofDecember 31, 2009,and approximately 64% of sales for these products in 2009.

Other Contract Holder Funds

Other Contract Holder Funds
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Other Contract Holder Funds Disclosure [Text Block]	12.Other Contract Holder Funds Details of other contract holder funds (in millions) were as follows: As of December 31, 2009 2008 Account values and other contract holder funds $ 62,829 $ 58,932 DFEL 1,338 1,019 Contract holder dividends payable 493 498 Premium deposit funds 102 110 Undistributed earnings on participating business 56 11 Total other contract holder funds $ 64,818 $ 60,570 As of December 31, 2009 and 2008, participating policies comprised approximately 1.10% of the face amount of insurance in force, and dividend expenses were $89 million, $92 million and $85 million for the years ended December 31, 2009, 2008 and 2007, respectively.

Short-Term and Long-Term Debt

Short-Term and Long-Term Debt
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Short-Term and Long-Term Debt Disclosure [Text Block]	13.Short-Term and Long-Term Debt Details underlying short-term and long-term debt (in millions) were as follows: As of December 31, 2009 2008 Short-Term Debt Commercial paper (1) $ 99 $ 315 Current maturities of long-term debt 250 500 Other short-term debt 1 - Total short-term debt $ 350 $ 815 Long-Term Debt, Excluding Current Portion (2) Senior notes: LIBOR + 8 bps notes, due 2010 $ - $ 250 6.2% notes, due 2011 250 250 5.65% notes, due 2012 300 300 LIBOR + 175 bps loan, due 2013 200 200 4.75% notes, due 2014 292 290 4.75% notes, due 2014 199 199 LIBOR + 3 bps notes, due 2017 250 250 7% notes, due 2018 200 200 8.75% notes, due 2019 (3) 495 - 6.25% notes, due 2020 (4) 300 - 6.15% notes, due 2036 497 497 6.3% notes, due 2037 427 569 Total senior notes 3,410 3,005 Junior subordinated debentures issued to affiliated trusts: Lincoln Capital VI - 6.75% Series F, due 2052 155 155 Total junior subordinated debentures issued to affiliated trusts 155 155 Capital securities: 6.75%, due 2066 275 275 7%, due 2066 (5) 721 797 6.05%, due 2067 (6) 489 499 Total capital securities 1,485 1,571 Total long-term debt $ 5,050 $ 4,731 (1) The weighted-average interest rate of commercial paper was 1.59% and 3.07% as of December 31, 2009 and 2008, respectively. (2) Amounts include unamortized premiums and discounts and the fair value of any associated fair value hedges on our long-term debt. (3) On June 22, 2009, we issued 8.75% fixed rate senior notes due 2019.We have the option to repurchase the outstanding notes by paying the greater of (i) 100% of the principal amount of the notes to be redeemed and (ii) the make-whole amount, plus in each case any accrued and unpaid interest as of the date of redemption.The make-whole amount is equal to the sum of the present values of the remaining scheduled payments on the senior notes, discounted to the date of redemption on a semi-annual basis, at a rate equal to the sum of the applicable treasury rate (as defined in the senior notes) plus 50 basis points. (4) On December 11, 2009, we issued 6.25% fixed rate senior notes due 2020.We have the option to repurchase the outstanding notes by paying the greater of (i) 100% of the principal amount of the notes to be redeemed and (ii) the make-whole amount, plus in each case any accrued and unpaid interest as of the date of redemption.The make-whole amount is equal to the sum of the present values of the remaining scheduled payments on the senior notes, discounted to the date of redemption on a semi-annual basis, at a rate equal to the sum of the applicable treasury rate (as defined in the senior notes) plus 45 basis points. (5) During the first quarter of 2009, we repurchas

Contingencies and Commitments

Contingencies and Commitments
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Commitments and Contingencies Disclosure [Text Block]	14.Contingencies and Commitments Contingencies Regulatory and Litigation Matters Regulatory bodies, such as state insurance departments, the SEC, Financial Industry Regulatory Authority and other regulatory bodies regularly make inquiries and conduct examinations or investigations concerning our compliance with, among other things, insurance laws, securities laws and laws governing the activities of broker-dealers. In the ordinary course of its business, LNC and its subsidiaries are involved in various pending or threatened legal proceedings, including purported class actions, arising from the conduct of business.In some instances, these proceedings include claims for unspecified or substantial punitive damages and similar types of relief in addition to amounts for alleged contractual liability or requests for equitable relief.After consultation with legal counsel and a review of available facts, it is managements opinion that these proceedings, after consideration of any reserves and rights to indemnification, ultimately will be resolved without materially affecting the consolidated financial position of LNC.However, given the large and indeterminate amounts sought in certain of these proceedings and the inherent difficulty in predicting the outcome of such legal proceedings, including the proceeding described below, it is possible that an adverse outcome in certain matters could be material to our operating results for any particular reporting period. Transamerica Investment Management, LLC and Transamerica Investments Services, Inc. v. Delaware Management Holdings, Inc. (dba Delaware Investments), Delaware Investment Advisers and certain individuals, was filed in the San Francisco County Superior Court on April28, 2005.The plaintiffs are seeking substantial compensatory and punitive damages.The complaint alleges breach of fiduciary duty, breach of duty of loyalty, breach of contract, breach of the implied covenant of good faith and fair dealing, unfair competition, interference with prospective economic advantage, conversion, unjust enrichment and conspiracy, in connection with Delaware Investment Advisers hiring of a portfolio management team from the plaintiffs.We and the individual defendants dispute the allegations and are vigorously defending these actions.The sale of Delaware has no impact on this matter. Commitments Rescission of Indemnity Reinsurance for Disability Income Business Included in the business sold to Swiss Re through indemnity reinsurance in 2001 was disability income business.In response to the rescission award of a panel of arbitrators on January 24, 2009, of the underlying reinsurance agreement with Swiss Re, we recorded an adjustment to write down our reinsurance recoverable and the corresponding funds withheld liability, and we released the embedded derivative liability related to the funds withheld nature of the reinsurance agreement, as discussed below.The rescission resulted in our being responsible for paying claims on the business and maintaining sufficient reserves to support the liabilities. For the year ended December 31, 2009, an unfavorable adjustment of $97 million, after-ta

Shares

Shares
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Schedule of Stock by Class and Earnings Per Share Reconciliation Disclosure [Text Block]	15.Shares and Stockholders Equity The changes in our preferred and common stock (number of shares) were as follows: For the Years Ended December 31, 2009 2008 2007 Series A Preferred Stock Balance as of beginning-of-year 11,565 11,960 12,706 Conversion into common stock (68 ) (395 ) (746 ) Balance as of end-of-year 11,497 11,565 11,960 Series B Preferred Stock Balance as of beginning-of-year - - - Stock issued 950,000 - - Balance as of end-of-year 950,000 - - Common Stock Balance as of beginning-of-year 255,869,859 264,233,303 275,752,668 Stock issued 46,000,000 - - Conversion of Series A preferred stock 1,088 6,320 11,936 Stock compensation/issued for benefit plans 436,100 945,048 3,849,497 Retirement/cancellation of shares (83,766 ) (9,314,812 ) (15,380,798 ) Balance as of end-of-year 302,223,281 255,869,859 264,233,303 Common stock as of end-of-year: Assuming conversion of preferred stock 302,407,233 256,054,899 264,424,663 Diluted basis 311,846,021 257,690,111 266,186,641 Our common and Series A preferred stocks are without par value. Common Stock Issued On June22, 2009, we closed on the issuance and sale of 40,000,000 shares of common stock and on June 25, 2009, we closed on the issuance and sale of 6,000,000 shares of common stock, both at a price of $15.00 per share. Series B Preferred Stock Issued On July 10, 2009, in connection with the Troubled Asset Relief Program (TARP) Capital Purchase Program (CPP), established as part of the Emergency Economic Stabilization Act of 2008 (EESA), we issued and sold to the U.S. Treasury 950,000 shares of Series B preferred stock together with a related warrant to purchase up to 13,049,451 shares of our common stock at an exercise price of $10.92 per share, in accordance with the terms of the TARP CPP, for an aggregate purchase price of $950 million.The Series B preferred stock has no maturity date and ranks senior to our common stock.Holders of this Series B preferred stock are entitled to a cumulative cash dividend at the annual rate per share of 5% of the liquidation preference, $1,000 per share, or $48 million annually, for the first five years from issuance.After July 10, 2014, if the preferred shares are still outstanding, the annual dividend rate will increase to 9% per year.The warrant will expire on July 10, 2019. As required under the TARP CPP, dividend payments on, and repurchases of, the Companys outstanding preferred and common stock are subject to certain restrictions (unless the U.S. Treasury consents).Additionally, any increase in the quarterly common stock dividend for the next three years will require the consent of the U.S. Government while our obligations under the CPP remain outstanding. In general, the Treasury Department

Realized Loss

Realized Loss
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Realized Gain (Loss) [Text Block]	16.Realized Loss Details underlying realized loss (in millions) reported on our Consolidated Statements of Income (Loss) were as follows: For the Years Ended December 31, 2009 2008 2007 Total realized loss on investments and certain derivative instruments, excluding trading securities (1) $ (572 ) $ (1,040 ) $ (127 ) Gain on certain reinsurance derivative/trading securities (2) 70 3 2 Indexed annuity net derivative results (3): Gross gain (loss) 8 13 (17 ) Associated amortization benefit (expense) of DAC, VOBA, DSI and DFEL (4 ) (6 ) 9 Guaranteed living benefits (4): Gross gain (loss) (483 ) 793 (70 ) Associated amortization benefit (expense) of DAC, VOBA, DSI and DFEL 35 (356 ) 28 Guaranteed death benefits (5): Gross gain (loss) (227 ) 75 (2 ) Associated amortization benefit (expense) of DAC, VOBA, DSI and DFEL 26 (17 ) 2 Gain on sale of subsidiaries/businesses 1 - - Total realized loss $ (1,146 ) $ (535 ) $ (175 ) (1) See Realized Loss Related to Investments section in Note 5. (2) Represents changes in the fair value of total return swaps (embedded derivatives) related to various modified coinsurance and coinsurance with funds withheld reinsurance arrangements that have contractual returns related to various assets and liabilities associated with these arrangements.Changes in the fair value of these derivatives are offset by the change in fair value of trading securities in the portfolios that support these arrangements. (3) Represents the net difference between the change in the fair value of the SP 500 call options that we hold and the change in the fair value of the embedded derivative liabilities of our indexed annuity products along with changes in the fair value of embedded derivative liabilities related to index call options we may purchase in the future to hedge contract holder index allocations applicable to future reset periods for our indexed annuity products.The year ended December 31, 2008, included a $10 million gain from the initial impact of adopting the Fair Value Measurements and Disclosures Topic of the FASB ASC. (4) Represents the net difference in the change in embedded derivative reserves of our GLB products and the change in the fair value of the derivative instruments we own to hedge, including the cost of purchasing the hedging instruments.The year ended December 31, 2008, included a $34 million loss from the initial impact of adopting the Fair Value Measurements and Disclosures Topic of the FASB ASC. (5) Represents the change in the fair value of the derivatives used to hedge our GDB riders.

Underwriting, Acquisition, Insu

Underwriting, Acquisition, Insurance, Restructuring and Other Expenses
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstracts]
Underwriting, Acquisition, Insurance, Restructuring and Other Expenses Disclosure [Text Block]	17.Underwriting, Acquisition, Insurance, Restructuring and Other Expenses Details underlying underwriting, acquisition, insurance and other expenses (in millions) were as follows: For the Years Ended December 31, 2009 2008 2007 Commissions $ 1,753 $ 1,923 $ 2,152 General and administrative expenses 1,364 1,358 1,318 DAC and VOBA deferrals and interest, net of amortization (598 ) (464 ) (1,041 ) Other intangibles amortization 4 4 5 Media expenses 53 60 56 Taxes, licenses and fees 167 197 202 Merger-related expenses 17 52 104 Restructuring charges for expense initiatives 34 8 (1 ) Total $ 2,794 $ 3,138 $ 2,795 All merger-related and restructuring charges are included in underwriting, acquisition, insurance and other expenses within primarily Other Operations on our Consolidated Statements of Income (Loss) in the year incurred. 2008 Restructuring Plan Starting in December 2008, we implemented a restructuring plan in response to the economic downturn and sustained market volatility, which focused on reducing expenses.Our cumulative pre-tax charges amounted to $42 million for severance, benefits and related costs associated with the plan for workforce reduction and other restructuring actions. 2006 Restructuring Plan Upon completion of the merger with Jefferson-Pilot, we implemented a restructuring plan relating to the integration of our legacy operations with those of Jefferson-Pilot.The purpose of the realignment was to enhance productivity, efficiency and scalability while positioning us for future growth. Details underlying reserves for restructuring charges (in millions) were as follows: Total Restructuring reserve as of December 31, 2008 $ 1 Amounts expended in 2009 (1 ) Restructuring reserve as of December 31, 2009 $ - Additional amounts expended in 2009 that do not qualify as restructuring charges $ 16 Total expected costs 225 The total expected costs include both restructuring charges and additional expenses that do not qualify as restructuring charges that are associated with the integration activities.Merger integration costs relating to employee severance and termination benefits of $13 million were included in other liabilities on our Consolidated Balance Sheets in the purchase price allocation.In the first quarter of 2007, an additional $8 million was recorded to goodwill and other liabilities as part of the final adjustment to the purchase price allocation related to employee severance and termination benefits.

Pension and Other Postretiremen

Pension and Other Postretirement Benefit Plans
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	18.Pension, Postretirement Health Care and Life Insurance Benefit Plans We maintain U.S. qualified funded defined benefit pension plans in which many of our U.S. employees and agents are participants.We also maintain non-qualified, unfunded defined benefit pension plans for certain U.S. employees and agents, certain former employees of Jefferson-Pilot and certain employees from CIGNA Corporation.In addition, for certain former employees we have supplemental retirement plans that provide defined benefit pension benefits in excess of limits imposed by federal tax law.All of our U.S. defined benefit pension plans were frozen as of December 31, 2007, or earlier.For our frozen plans, there are no new participants and no future accruals of benefits from the date of the freeze.Our non-U.S. defined benefit pension plan was frozen as of September 30, 2009 as a result of the sale of Lincoln National UK. The eligibility requirements for each plan are described in each plan document and vary for each plan based on completion of a specified period of continuous service or date of hire, subject to age limitations.The frozen pension plan benefits are calculated either on a traditional or cash balance formula.Those formulas are based upon years of credited service and eligible earnings as defined in each plan document.The traditional formula provides benefits stated in terms of a single life annuity payable at age 65.Under the cash balance formula benefits are stated as a lump sum hypothetical account balance.That account balance equals the sum of the employees accumulated annual benefit credits plus interest credits.Benefit credits, which are based on years of service and base salary plus bonus, ceased as of the date the plan was frozen.Interest Credits continue until the employees benefit is paid. We also sponsor a voluntary employees beneficiary association (VEBA) trust that provides postretirement medical, dental and life insurance benefits to retired full-time U.S. employees and agents who, depending on the plan, have worked for us for 10 years and attained age 55 (age 60 for agents).VEBAs are a special type of tax-exempt trust used to provide employee benefits that are subject to preferential tax treatment under the Internal Revenue Code.Medical and dental benefits are available to spouses and other eligible dependents of retired employees and agents.Retirees may be required to contribute toward the cost of these benefits.Eligibility and the amount of required contribution for these benefits varies based upon a variety of factors including years of service and year of retirement.Effective January 1, 2008, the postretirement plan providing benefits to former employees of Jefferson-Pilot was amended such that only employees who had attained age 55 with a minimum of 10 years of service by December 31, 2007, and who later retire on or after age 60 with 15 years of service will be eligible to receive life insurance benefits when they retire. Obligations, Funded Status and Assumptions Information (in millions) with respect to our defined benefit plan asset activity and defined benefit plan obligations was as follows: As of and for the

Defined Contribution and Deferr

Defined Contribution and Deferred Compensation Plans
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Defined Contribution and Deferred Compensation Plans	19.Defined Contribution and Deferred Compensation Plans Defined ContributionPlans We sponsor contributory defined contribution plans for eligible employees and agents, which includes money purchase plans (MPP).We make contributions and matching contributions to each of the active plans in accordance with the plan document and various limitations under Section 401(a) of the Internal Revenue Code of 1986, as amended. The expenses (in millions) for our 401(k) plans and MPP were as follows: For the Years Ended December 31, 2009 2008 2007 Employee 401(k) plan $ 60 $ 61 $ 20 Agent 401(k) plan 2 3 5 Agent MPP plan 1 1 1 Total expenses for the 401(k) plans and MPP $ 63 $ 65 $ 26 Deferred Compensation Plans We sponsor six separate non-qualified unfunded, deferred compensation plans for various groups:employees; agents; non-employee directors; and certain agents. The terms of the plans provide that plan participants who select our stock as the measure for their investment return will receive shares of our stock in settlement of this portion of their accounts at the time of distribution.In addition, participants are precluded from diversifying any portion of their deferred compensation plan account that has been credited to the stock unit fund.Consequently, changes in value of our stock do not affect the expenses associated with this portion of the deferred compensation plan. The investment earnings expenses for certain investment options within the respective plans are hedged by total return swaps. Participant's account values increase or decrease due to investment earnings driven by market fluctuation. Our expenses increase or decrease in direct proportion to the market's change for the participants investment options. The total return swaps allow us to minimize the investment earningsexpenses. Presented below for the respective plans we have netted the investment earnings due to market fluctuation with the results of the total return swaps. For further discussion on our total return swaps related to our deferred compensation plans, see Note6. Information (in millions) with respect to these plans was as follows: As of December 31, 2009 2008 Total liabilities $ 332 $ 336 Investment held to fund liabilities 118 100 The Deferred Compensation Plan for Employees Eligible participants in this plan may elect to defer payment of a portion of their compensation as defined by the plan.Plan participants may select from a menu of phantom investment options (identical to those offered under our qualified savings plans) used as investment measures for calculating the investment return notionally credited to their deferrals.Under the terms of the plan, we agree to pay out amounts based upon the aggregate performance of the investment measures selected by the participant.We make matching contributions to these plans based upon amounts placed into the deferred compensation plans by individuals after participants have exceeded applicable limits of the Internal Revenue Code.The amoun

Stock Based Incentive Compensat

Stock Based Incentive Compensation Plans
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Stock-Based Incentive Compensation Plans	20.Stock-Based Incentive Compensation Plans LNC Stock-Based Incentive Plans We sponsor various incentive plans for our employees and directors, and for the employees and agents of our subsidiaries that provide for the issuance of stock options, SARS, restricted stock awards, performance shares (shares) (performance-vested shares as opposed to time-vested shares) and deferred stock units (restricted stock units).We have a policy of issuing new shares to satisfy option exercises. Total compensation expense (in millions) for all of our stock-based incentive compensation plans was as follows: For the Years Ended December 31, 2009 2008 2007 Stock options $ 6 $ 10 $ 18 Shares (2 ) (3 ) 8 SARs - 4 5 Restricted stock 9 9 8 Total $ 13 $ 20 $ 39 Recognized tax benefit $ 5 $ 7 $ 14 Total unrecognized compensation expense (in millions) for all of our stock-based incentive compensation plans was as follows: For the Years Ended December 31, 2009 2008 2007 Weighted Weighted Weighted Average Average Average Expense Period Expense Period Expense Period Stock options $ 6 1.7 $ 6 1.7 $ 11 1.7 Shares - 1.0 3 1.9 6 1.7 SARs 2 4.1 1 3.9 4 3.3 Restricted stock 13 2.2 16 1.4 24 1.6 Total unrecognized stock-based incentive compensation expense $ 21 $ 26 $ 45 In the second quarter of 2009, a performance period from 2009-2011 was approved for our executive officers by the Compensation Committee. The award for executive officers participating in this performance period consists of LNC restricted stock units representing approximately 27%, LNC stock options representing approximately 40% and performance cash awards representing approximately 33% of the total award. LNC stock options granted for this performance period vest ratably over the three-year period, based solely on a service condition.Under the 2009-2011 plan, a total of 609,175 LNC stock options and 902,269 LNC restricted stock units were granted.In addition, as required under TARP CPP, we have complied with enhanced compensation restrictions for certain executives and employees. In the first quarter of 2008, a performance period from 2008-2010 was approved for our executive officers by the Compensation Committee.Executive officers participating in the 2008-2010 performance period received one-half of their award in LNC stock options with 10-year terms, with the remainder of the award in a combination of performance shares and cash.LNC stock options granted for this performance period vest ratably over the three-year period.All awards granted during this period vest solely based on meeting service conditions.Depending on performance results for this period, the ultimate payout of per

Statutory Information and Restr

Statutory Information and Restrictions
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Statutory Information and Restrictions Disclosure [Text Block]	21.Statutory Information and Restrictions The Companys domestic life insurance subsidiaries prepare financial statements in accordance with statutory accounting principles (SAP) prescribed or permitted by the insurance departments of their states of domicile, which may vary materially from GAAP.Prescribed SAP includes the Accounting Practices and Procedures Manual of the National Association of Insurance Commissioners (NAIC) as well as state laws, regulations and administrative rules.Permitted SAP encompasses all accounting practices not so prescribed.The principal differences between statutory financial statements and financial statements prepared in accordance with GAAP are that statutory financial statements do not reflect DAC, some bond portfolios may be carried at amortized cost, assets and liabilities are presented net of reinsurance, contract holder liabilities are generally valued using more conservative assumptions and certain assets are non-admitted. Statutory capital and surplus; net gain from operations, after-tax;net income (loss) and dividends to LNC Parent Company amounts (in millions) below consists of all or a combination of the following entities: LNL, First Penn-Pacific Life Insurance Company, Lincoln Reinsurance Company of South Carolina, Lincoln Reinsurance Company of South Carolina II, The Lincoln Life Annuity Company of New York (LLANY), Lincoln Financial Group South Carolina Reinsurance Company, and Lincoln Reinsurance Company of Vermont I. As of December 31, 2009 2008 U.S. capital and surplus $ 6,524 $ 4,925 For the Years Ended December 31, 2009 2008 2007 U.S. net gain from operations, after-tax $ 913 $ 561 $ 751 U.S. net income (loss) (4 ) (234 ) 1,030 U.S. dividends to LNC Parent Company 455 450 1,211 The increase in statutory net income for the year ended December 31, 2009, from that of 2008 was primarily due to the improved market conditions in 2009.The new statutory reserving standard (commonly called VACARVM) that was developed by the NAIC replaced current statutory reserve practices for variable annuities with guaranteed benefits, such as GWBs, and was effective December 31, 2009.The actual effect of adoption was relatively neutral to RBC ratios and future dividend capacity of our insurance subsidiaries with a slight decrease in statutory reserves offset by a higher capital requirement.We utilize captive reinsurance structures, as well as third-party reinsurance arrangements, to lessen the negative impact on statutory capital and dividend capacity in our life insurance subsidiaries. The decline in statutory net income in 2008 from that of 2007 was primarily due to a significant increase in realized losses on investments combined with reserve strain due to deteriorating market conditions throughout 2008. The states of domicile of the Companys insurance subsidiaries have adopted certain prescribed accounting practices that differ from those found in NAIC SAP.These prescribed practices are the use of continuous Commissioners Annuity Reserve Valuation Method (CARVM) in th

Financial Instruments Carried a

Financial Instruments Carried at Fair Value
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Fair Value Disclosures [Text Block]	22.Fair Value of Financial Instruments The carrying values and estimated fair values of our financial instruments (in millions) were as follows: As of December 31, 2009 2008 Carrying Fair Carrying Fair Value Value Value Value Assets AFS securities: Fixed maturity $ 60,818 $ 60,818 $ 48,141 $ 48,141 Equity 278 278 254 254 Trading securities 2,505 2,505 2,333 2,333 Mortgage loans on real estate 7,178 7,316 7,715 7,424 Derivative instruments 1,010 1,010 3,397 3,397 Other investments 1,057 1,057 1,624 1,624 Cash and invested cash 4,025 4,025 5,588 5,588 Reinsurance related embedded derivatives - - 31 31 Liabilities Future contract benefits: Indexed annuity contracts (419 ) (419 ) (252 ) (252 ) GLB embedded derivative reserves (637 ) (637 ) (2,904 ) (2,904 ) Other contract holder funds: Remaining guaranteed interest and similar contracts (940 ) (940 ) (782 ) (782 ) Account value of certain investment contracts (24,114 ) (24,323 ) (21,974 ) (22,372 ) Short-term debt (1) (350 ) (349 ) (815 ) (775 ) Long-term debt (5,050 ) (4,759 ) (4,731 ) (2,909 ) Reinsurance related embedded derivatives (31 ) (31 ) - - Off-Balance-Sheet Guarantees - - - (1 ) (1) The difference between the carrying value and fair value of short-term debt as of December 31, 2009 and 2008, related to current maturities of long-term debt. Valuation Methodologies and Associated Inputs for Financial Instruments Not Carried at Fair Value The following discussion outlines the methodologies and assumptions used to determine the fair value of our financial instruments not carried at fair value.Considerable judgment is required to develop these assumptions used to measure fair value.Accordingly, the estimates shown are not necessarily indicative of the amounts that would be realized in a one-time, current market exchange of all of our financial instruments. Mortgage Loans on Real Estate The fair value of mortgage loans on real estate is established using a discounted cash flow method based on credit rating, maturity and future income.The ratings for mortgages in good standing are based on property type, location, market conditions, occupancy, debt service coverage, loan to value, quality of tenancy, borrower and payment record.The fair value for impaired mortgage loans is based on the present value of expected future cash flows discounted at the loans effective interest rate, the loans market price or the fair value of the collateral if the loan is collateral dependent. Other Investments The carrying value of our assets classified as other investmen

Segment Information

Segment Information
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Segment Reporting Disclosure [Text Block]	23.Segment Information We provide products and services in two operating businesses and report results through four business segments as follows: Business Corresponding Segments Retirement Solutions Annuities Defined Contribution Insurance Solutions Life Insurance Group Protection We also have Other Operations, which includes the financial data for operations that are not directly related to the business segments.Our reporting segments reflect the manner by which our chief operating decision makers view and manage the business.The following is a brief description of these segments and Other Operations. Retirement Solutions The Retirement Solutions business provides its products through two segments:Annuities and Defined Contribution.The Retirement Solutions Annuities segment provides tax-deferred investment growth and lifetime income opportunities for its clients by offering individual fixed annuities, including indexed annuities and variable annuities.The Retirement Solutions Defined Contribution segment provides employer-sponsored variable and fixed annuities and mutual-fund based programs in the 401(k), 403(b) and 457 marketplaces. Insurance Solutions The Insurance Solutions business provides its products through two segments:Life Insurance and Group Protection.The Insurance Solutions Life Insurance segment offers wealth protection and transfer opportunities through term insurance, a linked-benefit product (which is a UL policy linked with riders that provide for long-term care costs) and both single and survivorship versions of UL and VUL, including corporate-owned UL and VUL insurance and bank-owned UL and VUL insurance products.The Insurance Solutions Group Protection segment offers group life, disability and dental insurance to employers, and its products are marketed primarily through a national distribution system of regional group offices.These offices develop business through employee benefit brokers, third-party administrators and other employee benefit firms. Other Operations Other Operations includes investments related to the excess capital in our insurance subsidiaries; investments in media properties and other corporate investments; benefit plan net liability; the unamortized deferred gain on indemnity reinsurance related to the sale of reinsurance to Swiss Re in 2001; the results of certain disability income business due to the rescission of a reinsurance agreement with Swiss Re; the Institutional Pension business, which is a closed-block of pension business, the majority of which was sold on a group annuity basis, and is currently in run-off; and external debt.We are actively managing our remaining radio station clusters to maximize performance and future value. Segment operating revenues and income (loss) from operations are internal measures used by our management and Board of Directors to evaluate and assess the results of our segments.Income (loss) from operations is GAAP net income excluding the after-tax effects of the following items, as applicable: Realized gains and losses associated with the following (excluded realized loss):

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flow
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	24.Supplemental Disclosures of Cash Flow Data The following summarizes our supplemental cash flow data (in millions): For the Years Ended December 31, 2009 2008 2007 Interest paid $ 240 $ 282 $ 268 Income taxes paid (received) (189 ) 418 177 Significant non-cash investing and financing transactions: Business combinations: Fair value of assets acquired (includes cash and invested cash) $ 7 $ - $ 86 Fair value of common stock issued and stock options recognized - - (20 ) Cash paid for common shares - - (1 ) Liabilities assumed $ 7 $ - $ 65 Business dispositions: Assetsdisposed(includes cash and invested cash) $ (8,044 ) $ (732 ) $ (45 ) Liabilitiesdisposed 7,457 127 6 Foreign currency awards released 54 - - Cash received 314 647 42 Realized gain (loss) on disposal (219 ) 42 3 Estimated gain on net assets held-for-sale in 2007 - (54 ) 54 Gain (loss) on dispositions $ (219 ) $ (12 ) $ 57 Sale of subsidiaries/businesses: Proceeds from sale of subsidiaries/businesses $ 6 $ 10 $ 25 Assetsdisposed(includes cash and invested cash) (5 ) (1 ) (19 ) Gain on sale of subsidiaries/businesses $ 1 $ 9 $ 6

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Quarterly Results of Operations (Unaudited) [Text Block]	25.Quarterly Results of Operations (Unaudited) The unaudited quarterly results of operations (in millions, except per share data) were as follows: For the Three Months Ended March 31, June 30, September 30, December 31, 2009 Total revenues $ 2,132 $ 1,882 $ 2,082 $ 2,403 Total benefits and expenses 2,795 1,936 2,020 2,269 Income (loss) from continuing operations (587 ) (7 ) 81 98 Income (loss) from discontinued operations, net of federal income tax expense (benefit) 8 (154 ) 72 4 Net income (loss) (579 ) (161 ) 153 102 Earnings (loss) per common share - basic: Income (loss) from continuing operations (2.30 ) (0.03 ) 0.21 0.27 Income (loss) from discontinued operations 0.03 (0.59 ) 0.24 0.01 Net income (loss) (2.27 ) (0.62 ) 0.45 0.28 Earnings (loss) per common share - diluted: Income (loss) from continuing operations (2.30 ) (0.03 ) 0.21 0.26 Income (loss) from discontinued operations 0.03 (0.59 ) 0.23 0.01 Net income (loss) (2.27 ) (0.62 ) 0.44 0.27 2008 Total revenues $ 2,409 $ 2,392 $ 2,270 $ 2,153 Total benefits and expenses 2,030 2,238 2,149 2,944 Income (loss) from continuing operations 268 96 129 (503 ) Income (loss) from discontinued operations, net of federal income tax expense (benefit) 21 29 19 (2 ) Net income (loss) 289 125 148 (505 ) Earnings (loss) per common share - basic: Income (loss) from continuing operations 1.03 0.37 0.51 (1.97 ) Income (loss) from discontinued operations 0.08 0.11 0.07 (0.01 ) Net income (loss) 1.11 0.48 0.58 (1.98 ) Earnings (loss) per common share - diluted: Income (loss) from continuing operations 1.02 0.37 0.51 (1.97 ) Income (loss) from discontinued operations 0.08 0.11 0.07 (0.01 ) Net income (loss) 1.10 0.48 0.58 (1.98 )

Summary of Investments - Other

Summary of Investments - Other than Investments in Related Parties
	12 Months Ended Dec. 31, 2009 USD / shares
Supplemental Schedules [Abstract]
Summary of Investments - Other than Investments in Related Parties Supplemental Schedule [Text Block]	LINCOLN NATIONAL CORPORATION SCHEDULE I CONSOLIDATED SUMMARY OF INVESTMENTS OTHER THAN INVESTMENTS IN RELATED PARTIES (in millions) Column A Column B Column C Column D As of December 31, 2009 Fair Carrying Type of Investment Cost Value Value Available-For-Sale Fixed Maturity Securities (1) Bonds: U.S. government and government agencies and authorities $ 186 $ 194 $ 194 States, municipalities and political subdivisions 2,009 1,968 1,968 Mortgage-backed securities 11,576 11,103 11,103 Foreign governments 488 505 505 Public utilities 6,718 6,979 6,979 Convertibles and bonds with warrants attached 5 5 5 All other corporate bonds 38,373 38,876 38,876 Hybrid and redeemable preferred stocks 1,402 1,188 1,188 Total available-for-sale fixed maturity securities 60,757 60,818 60,818 Available-For-Sale Equity Securities (1) Common stocks: Banks, trusts and insurance companies 261 143 143 Industrial, miscellaneous and all other 58 55 55 Nonredeemable preferred stocks 63 80 80 Total available-for-sale equity securities 382 278 278 Trading securities 2,342 2,505 2,505 Derivative instruments 959 1,010 1,010 Mortgage loans on real estate 7,178 7,316 7,178 Real estate 174 N/A 174 Policy loans 2,898 N/A 2,898 Other investments 1,057 1,057 1,057 Total investments $ 75,747 $ 75,918 (1) Investments deemed to have declines in value that are other-than-temporary are written down or reserved for to reduce the carrying value to their estimated realizable value.

Condensed Financial Information

Condensed Financial Information of Registrant
	12 Months Ended Dec. 31, 2009 USD / shares
Supplemental Schedules [Abstract]
Condensed Financial Information of Registrant [Text Block]	LINCOLN NATIONAL CORPORATION SCHEDULE II CONDENSED FINANCIAL INFORMATION OF REGISTRANT BALANCE SHEETS (Parent Company Only) (in millions, except share data) As of December 31, 2009 2008 ASSETS Investments in subsidiaries (1) $ 14,374 $ 11,652 Derivative investments 189 407 Other investments 238 187 Cash and invested cash 990 117 Loans and accrued interest to subsidiaries (1) 1,576 1,785 Other assets 126 147 Total assets $ 17,493 $ 14,295 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Common and preferred dividends payable $ 9 $ 54 Short-term debt 349 815 Long-term debt 4,802 4,481 Loans from subsidiaries (1) 97 388 Other liabilities 536 580 Total liabilities 5,793 6,318 Contingencies and Commitments Stockholders' Equity Series A preferred stock - 10,000,000 shares authorized - - Series B preferred stock - 950,000 shares authorized 806 - Common stock - 800,000,000 shares authorized 7,840 7,035 Retained earnings 3,316 3,745 Accumulated other comprehensive income (loss) (262 ) (2,803 ) Total stockholders' equity 11,700 7,977 Total liabilities and stockholders' equity $ 17,493 $ 14,295 (1) Eliminated in consolidation. LINCOLN NATIONAL CORPORATION SCHEDULE II CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Continued) STATEMENTS OF INCOME (Parent Company Only) (in millions) For the Years Ended December 31, 2009 2008 2007 Revenues Dividends from subsidiaries (1) $ 767 $ 1,239 $ 1,530 Interest from subsidiaries (1) 94 121 115 Net investment income (loss) (5 ) 17 21 Realized gain (loss) on investments 1 (156 ) (49 ) Other 1 - 1 Total revenues 858 1,221 1,618 Expenses Operating and administrative 26 52 64 Interest - subsidiaries (1) 8 25 93 Interest - other 195 280 281 Total expenses 229 357 438 Income before federal income tax benefit, equity in income of subsidiaries, less dividends 629 864 1,180 Federal income tax benefit (50 ) (136 ) (126 ) Income before equity in income of subsidiaries, less dividends 679 1,000 1,306 Equity in income of subsidiaries, less dividends (1,164 ) (943 ) (91 ) Net income (loss) $ (485 ) $ 57 $ 1,215 (1) Eliminated in consolidation. LINCOLN NATIONAL CORPORATION SCHEDULE II CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Continued) STATEMENTS OF CASH FLOWS (Parent Company Only) (in millions) For the Years Ended December 31, 2009 2008 2007 Cash Flows from Operating A

Supplementary Insurance Informa

Supplementary Insurance Information
	12 Months Ended Dec. 31, 2009 USD / shares
Supplemental Schedules [Abstract]
Supplementary Insurance Information [Text Block]	LINCOLN NATIONAL CORPORATION SCHEDULE III CONSOLIDATED SUPPLEMENTARY INSURANCE INFORMATION (in millions) Column A Column B Column C Column D Column E Column F Future Other Contract DAC and Contract Unearned Holder Insurance Segment VOBA Benefits Premiums (1) Funds Premiums As of or for the Year Ended December 31, 2009 Retirement Solutions: Annuities $ 2,381 $ 1,439 $ - $ 19,566 $ 89 Defined Contribution 538 3 - 12,240 - Total Retirement Solutions 2,919 1,442 - 31,806 89 Insurance Solutions: Life Insurance 6,412 6,435 - 31,287 392 Group Protection 159 1,446 - 193 1,579 Total Insurance Solution 6,571 7,881 - 31,480 1,971 Other Operations 20 5,964 - 1,532 4 Total $ 9,510 $ 15,287 $ - $ 64,818 $ 2,064 As of or for the Year Ended December 31, 2008 Retirement Solutions: Annuities $ 2,977 $ 3,958 $ - $ 17,220 $ 136 Defined Contribution 883 25 - 11,628 - Total Retirement Solutions 3,860 3,983 - 28,848 136 Insurance Solutions: Life Insurance 7,383 6,380 - 29,998 360 Group Protection 146 1,378 - 149 1,518 Total Insurance Solutions 7,529 7,758 - 30,147 1,878 Other Operations 13 6,690 - 1,575 4 Total $ 11,402 $ 18,431 $ - $ 60,570 $ 2,018 As of or for the Year Ended December 31, 2007 Retirement Solutions: Annuities $ 2,477 $ 817 $ - $ 17,750 $ 118 Defined Contribution 514 - - 10,892 - Total Retirement Solutions 2,991 817 - 28,642 118 Insurance Solutions: Life Insurance 5,692 6,255 - 28,427 351 Group Protection 123 1,273 - 17 1,380 Total Insurance Solutions 5,815 7,528 - 28,444 1,731 Other Operations 2 6,515 - 2,151 3 Total $ 8,808 $ 14,860 $ - $ 59,237 $ 1,852 (1) Unearned premiums are included in Column E, other contract holder funds. LINCOLN NATIONAL CORPORATION SCHEDULE III CONSOLIDATED SUPPLEMENTARY INSURANCE INFORMATION (Continued) (in millions) Column G Column H Column I Column J Column K Benefits Amortization Net and of DAC Other Investme

Reinsurance Supplemental Schedu

Reinsurance Supplemental Schedule
	12 Months Ended Dec. 31, 2009 USD / shares
Supplemental Schedules [Abstract]
Reinsurance [Text Block]	LINCOLN NATIONAL CORPORATION SCHEDULE IV CONSOLIDATED REINSURANCE (in millions) Column A Column B Column C Column D Column E Column F Assumed Percentage Ceded from of Amount Gross to Other Other Net Assumed Description Amount Companies Companies Amount to Net As of or for the Year Ended December 31, 2009 Individual life insurance in force $ 799,900 $ 342,600 $ 3,000 $ 460,300 0.7 % Premiums: Life insurance and annuities (1) 5,025 1,126 10 3,909 0.3 % Health insurance 1,099 22 - 1,077 - Total $ 6,124 $ 1,148 $ 10 $ 4,986 As of or for the Year Ended December 31, 2008 Individual life insurance in force $ 765,400 $ 346,900 $ 3,700 $ 422,200 0.9 % Premiums: Life insurance and annuities (1) 4,996 982 18 4,032 0.4 % Health insurance 1,075 22 - 1,053 - Total $ 6,071 $ 1,004 $ 18 $ 5,085 As of or for the Year Ended December 31, 2007 Individual life insurance in force $ 725,500 $ 350,500 $ 3,700 $ 378,700 1.0 % Premiums: Life insurance and annuities (1) 4,802 906 12 3,908 0.3 % Health insurance 967 27 - 940 - Total $ 5,769 $ 933 $ 12 $ 4,848 (1) Includes insurance fees on universal life and other interest-sensitive products.

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts
	12 Months Ended Dec. 31, 2009 USD / shares
Supplemental Schedules [Abstract]
Valuation and Qualifying Accounts [Text Block]	LINCOLN NATIONAL CORPORATION SCHEDULE V CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS (in millions) Column A Column B Column C Additions Column D Column E Charged Balance at Charged to to Other Balance Beginning- Costs Accounts - Deductions - at End Description of-Year Expenses (1) Describe Describe (2) of-Year As of December 31, 2009 Deducted from asset accounts: Reserve for mortgage loans on real estate $ - $ 35 $ - $ (13 ) $ 22 Included in other liabilities: Investment guarantees - - - - - As of December 31, 2008 Deducted from asset accounts: Reserve for mortgage loans on real estate $ - $ - $ - $ - $ - Included in other liabilities: Investment guarantees - - - - - As of December 31, 2007 Deducted from asset accounts: Reserve for mortgage loans on real estate $ 2 $ - $ - $ (2 ) $ - Included in other liabilities: Investment guarantees - - - - - (1) Excludes charges for the direct write-off assets. (2) Deductions reflect sales, foreclosures of the underlying holdings or change in reserves.

Document Information

Document Information
	12 Months Ended Dec. 31, 2009 USD / shares
Document Information [Text Block]
Document Type	10-K
Document Period End Date	2009-12-31
Amendment Flag	false

Entity Information

Entity Information (USD $)
	12 Months Ended Dec. 31, 2009	Feb. 19, 2010	Jun. 30, 2009
Entity [Text Block]
Entity Registrant Name	LINCOLN NATIONAL CORP
Entity Central Index Key	0000059558
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$5,200,000,000
Entity Common Stock, Shares Outstanding		302,261,792