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<!--Created: Fri Mar 08 19:41:47 UTC 2024-->
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    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
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          <ccc>XXXXXXXX</ccc>
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      <investmentCompanyType>N-6</investmentCompanyType>
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      <annualFilingInfo>
        <item1>
          <nameOfIssuer>Lincoln Life Flexible Premium Variable Life Account LMB-V</nameOfIssuer>
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          <addressOfIssuer>
            <street1>Lincoln National Life Insurance Company</street1>
            <street2>1301 HARRISON STREET</street2>
            <city>Fort Wayne</city>
            <state>IN</state>
            <country>X1</country>
            <zipCode>46802</zipCode>
          </addressOfIssuer>
        </item1>
        <item2>
          <reportClass>
            <annualClassInfo>
              <className>Spectrum Select</className>
              <classId>C000232903</classId>
            </annualClassInfo>
            <annualClassInfo>
              <className>Spectrum Select Plus</className>
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        </item2>
        <item3>
          <investmentCompActFileNo>811-09075</investmentCompActFileNo>
          <securitiesActFileNumbers>
            <securitiesActFileNo>
              <fileNumber>333-259950</fileNumber>
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            <securitiesActFileNo>
              <fileNumber>333-259952</fileNumber>
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          </securitiesActFileNumbers>
        </item3>
        <item4>
          <lastDayOfFiscalYear>12/31/2023</lastDayOfFiscalYear>
          <isThisTheLastTimeIssuerFilingThisForm>false</isThisTheLastTimeIssuerFilingThisForm>
        </item4>
        <item5>
          <aggregateSalePriceOfSecuritiesSold>3184392</aggregateSalePriceOfSecuritiesSold>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>5953437</aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>9878141</aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>
          <totalAvailableRedemptionCredits>15831578</totalAvailableRedemptionCredits>
          <netSales>0</netSales>
          <redemptionCreditsAvailableForUseInFutureYears>(12647186)</redemptionCreditsAvailableForUseInFutureYears>
          <multiplierForDeterminingRegistrationFee>0.0001476000</multiplierForDeterminingRegistrationFee>
          <registrationFeeDue>0</registrationFeeDue>
        </item5>
        <item8>
          <totalOfRegistrationFeePlusAnyInterestDue>0</totalOfRegistrationFeePlusAnyInterestDue>
        </item8>
        <signature>
          <signature>/s/ Thomas Tynes</signature>
          <nameAndTitle>Thomas Tynes, Sr Director Gen Acctg - Sep Accounts, Protective Life Insurance Company</nameAndTitle>
          <signatureDate>03/08/2024</signatureDate>
        </signature>
      </annualFilingInfo>
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