<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001257734</cik>
        <entityName>LINCOLN LIFE FLEXIBLE PREMIUM VARIABLE LIFE ACCOUNT Z</entityName>
        <issuerAddress>
            <street1>1300 South Clinton Street</street1>
            <city>Fort Wayne</city>
            <stateOrCountry>IN</stateOrCountry>
            <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
            <zipCode>46802</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>800-454-6265</issuerPhoneNumber>
        <jurisdictionOfInc>INDIANA</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Insurance Company Separate Account</entityTypeOtherDesc>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Dennis</firstName>
                <middleName>R.</middleName>
                <lastName>Glass</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>150 North Radnor Chester Road</street1>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Frederick</firstName>
                <middleName>J</middleName>
                <lastName>Crawford</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>150 North Radnor Chester Road</street1>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName>J</middleName>
                <lastName>Burns</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>100 North Greene Street</street1>
                <city>Greensboro</city>
                <stateOrCountry>NC</stateOrCountry>
                <stateOrCountryDescription>NORTH CAROLINA</stateOrCountryDescription>
                <zipCode>27401</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Lawrence</firstName>
                <middleName>A</middleName>
                <lastName>Samplatsky</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>350 Church Street</street1>
                <city>Hartford</city>
                <stateOrCountry>CT</stateOrCountry>
                <stateOrCountryDescription>CONNECTICUT</stateOrCountryDescription>
                <zipCode>06103</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Mark</firstName>
                <middleName>E</middleName>
                <lastName>Konen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>100 North Greene Street</street1>
                <city>Greensboro</city>
                <stateOrCountry>NC</stateOrCountry>
                <stateOrCountryDescription>NORTH CAROLINA</stateOrCountryDescription>
                <zipCode>27401</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Charles</firstName>
                <middleName>A.</middleName>
                <lastName>Brawley</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>150 North Radnor Chester Road</street1>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>C. Phillip</firstName>
                <lastName>Elam, III</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>150 North Radnor Chester Road</street1>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Randall</firstName>
                <lastName>Freitag</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>150 North Radnor Chester Road</street1>
                <city>Radnor</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19087</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Keith</firstName>
                <middleName>J</middleName>
                <lastName>Ryan</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1300 South Clinton Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Rise</firstName>
                <middleName>C.M.</middleName>
                <lastName>Taylor</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1300 South Clinton Street</street1>
                <city>Fort Wayne</city>
                <stateOrCountry>IN</stateOrCountry>
                <stateOrCountryDescription>INDIANA</stateOrCountryDescription>
                <zipCode>46802</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Insurance</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.1</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-07-011305</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2007-02-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
            <isOtherType>true</isOtherType>
            <descriptionOfOtherType>Interest in Separate Account issued pursuant to variable life insurance policies.</descriptionOfOtherType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Andrew P. Kraus</recipientName>
                <recipientCRDNumber>2180309</recipientCRDNumber>
                <associatedBDName>Merrill Lynch</associatedBDName>
                <associatedBDCRDNumber>7691</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>4800 Deer Lake Drive</street1>
                    <city>Jacksonville</city>
                    <stateOrCountry>FL</stateOrCountry>
                    <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                    <zipCode>32246</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>DE</state>
                    <description>DELAWARE</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>William E. Schantz II</recipientName>
                <recipientCRDNumber>1923047</recipientCRDNumber>
                <associatedBDName>M. Holdings Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>43285</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>205 S. E. Spokane Street</street1>
                    <city>Portland</city>
                    <stateOrCountry>OR</stateOrCountry>
                    <stateOrCountryDescription>OREGON</stateOrCountryDescription>
                    <zipCode>97202-6413</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>DE</state>
                    <description>DELAWARE</description>
                    <state>PA</state>
                    <description>PENNSYLVANIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>William J. Folan</recipientName>
                <recipientCRDNumber>1881520</recipientCRDNumber>
                <associatedBDName>Executive Services Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>25299</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>3445 Peachtreet Road NE</street1>
                    <city>Atlanta</city>
                    <stateOrCountry>GA</stateOrCountry>
                    <stateOrCountryDescription>GEORGIA</stateOrCountryDescription>
                    <zipCode>30326-1156</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>DC</state>
                    <description>DISTRICT OF COLUMBIA</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>GA</state>
                    <description>GEORGIA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Arthur Gilbert</recipientName>
                <recipientCRDNumber>2629514</recipientCRDNumber>
                <associatedBDName>M. Holdings Securities, Inc.</associatedBDName>
                <associatedBDCRDNumber>43285</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>205 S. E. Spokane Street</street1>
                    <city>Portland</city>
                    <stateOrCountry>OR</stateOrCountry>
                    <stateOrCountryDescription>OREGON</stateOrCountryDescription>
                    <zipCode>97202-6413</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CT</state>
                    <description>CONNECTICUT</description>
                    <state>DE</state>
                    <description>DELAWARE</description>
                    <state>MD</state>
                    <description>MARYLAND</description>
                    <state>MS</state>
                    <description>MISSISSIPPI</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Richard M. Kagan</recipientName>
                <recipientCRDNumber>263008</recipientCRDNumber>
                <associatedBDName>MML Investors Services, Inc.</associatedBDName>
                <associatedBDCRDNumber>10409</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1414 Main Street</street1>
                    <city>Springfield</city>
                    <stateOrCountry>MA</stateOrCountry>
                    <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
                    <zipCode>01144</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>FL</state>
                    <description>FLORIDA</description>
                    <state>ME</state>
                    <description>MAINE</description>
                    <state>NV</state>
                    <description>NEVADA</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>NY</state>
                    <description>NEW YORK</description>
                    <state>PA</state>
                    <description>PENNSYLVANIA</description>
                    <state>WA</state>
                    <description>WASHINGTON</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>86131783</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>4</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>6154344</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>As an issuer of the variable life insurance policies, The Lincoln National Life Ins. Co. will receive amounts from charges deducted under the policies, but no executive officer, director or promoter will receive any portion of the gross offering proceeds.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>LINCOLN LIFE FLEXIBLE PREMIUM VARIABLE LIFE ACCOUNT Z</issuerName>
                <signatureName>/s/ Scott C. Durocher</signatureName>
                <nameOfSigner>Scott C. Durocher</nameOfSigner>
                <signatureTitle>Counsel</signatureTitle>
                <signatureDate>2010-06-17</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
