8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

                   November 21, 2007                

Date of Report (Date of earliest event reported)

                  Lincoln National Corporation              

(Exact name of registrant as specified in its charter)

Indiana	1-6028	35-1140070
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

1500 Market Street, West Tower, Suite 3900, Philadelphia, Pennsylvania  19102-2112

(Address of principal executive offices)  (Zip Code)

(215) 448-1400

(Registrant’s telephone number)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ]           Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.04. Temporary Suspension of Trading Under Registrant’s Benefit Plans.

On November 21, 2007, we received a notice (the “Notice”) required by Section 101(i)(2)(E) of the Employment Retirement Income Security Act of 1974, as amended, related to the spin-off of accounts of employees of our wholly owned subsidiary, Delaware Management Holdings, Inc., from the Lincoln National Corporation Employees’ Savings and Profit Sharing 401(k) Plan (the “Lincoln Plan”) into a new plan, the Delaware Management Holdings, Inc. Employees’ Savings and 401(k) Plan (the “Delaware Plan”) effective January 1, 2008.  These participants constitute less than ten percent of the Lincoln Plan participants.  The Notice describes a blackout period which will occur under the Lincoln Plan for participants in the Delaware Plan in connection with the separation of the Delaware Plan.  The Notice is attached hereto as Exhibit 99.1 and is incorporated by reference herein.  Shares of our common stock held in LNC common stock fund, a unitized fund investing exclusively in shares of LNC common stock, of the Lincoln Plan and, following the separation of the Delaware Plan, by participants in the Delaware Plan will be subject to the blackout period described in the Notice.  The blackout period described in the Notice will not prohibit our directors and executive officers from engaging in transactions regarding shares of our common stock outside of the Lincoln and Delaware Plans. The blackout will impact one executive officer who will participate in the Delaware Plan. During the blackout period, this officer will not be able to direct any transactions with respect to the LNC common stock fund.

Item 9.01.   Financial Statements and Exhibits.

The Exhibit Index set forth on page E-1 is incorporated herein by reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

LINCOLN NATIONAL CORPORATION
By	/s/Douglas N. Miller
Name:	Douglas N. Miller
Title:	Vice President and
	Chief Accounting Officer

Date:  November 28, 2007

INDEX TO EXHIBITS

Exhibit Number	Description
99.1	Notice

EX-99.1

Exhibit 99.1

To: Delaware Investments Participants of Lincoln National Corporation Employees’ Savings and Profit Sharing 401(k) Plan

From: Lincoln National Compensation & Benefits Department

Re: Important Notice Concerning Your Rights Under the Lincoln National Corporation Employees’ Savings and Profit Sharing 401(k) Plan

1.   This notice is to inform you that your account under the Lincoln National Corporation Employees’ Savings and Profit Sharing 401(k) Plan will be automatically transferred to the Delaware Management Holdings, Inc. Employees’ Savings and 401(k) Plan (the “Delaware Plan”) effective January 1, 2008. The Delaware Plan is also administered by Wells Fargo Retirement Plan Solutions.

2.   As a result of these changes, you temporarily will be unable to direct or diversify investments in your individual account, obtain a loan from the plan or obtain a distribution from the plan for a brief period of time. This period, during which you will be unable to exercise these rights otherwise available under the plan, is called a “blackout period.”  Whether or not you are planning retirement in the near future, we encourage you to carefully consider how this blackout period may affect your retirement planning, as well as your overall financial plan.

3.   The blackout period for the plan is expected to begin on Monday, December 31, 2007 at 4 p.m. Eastern time and end on Friday, January 4, 2008 at 4 p.m. Eastern time. You will also receive an additional communication when the blackout period has been completed, or if the blackout period ends later than expected.

4.   During the blackout period you will be unable to direct or diversify the assets held in your plan account. For this reason, it is very important that you review and consider the appropriateness of your current investments in light of your inability to direct or diversify those investments during the blackout period. For your long-term retirement income security, you should give careful consideration to the importance of a well-balanced and diversified investment portfolio, taking into account all your assets, income and investments.

5.   If you have any questions concerning this notice you should contact Lincoln Financial Compensation & Benefits Department, Lincoln National Corporation, 1500 Market Street, 19^th Floor – West Tower, Philadelphia, PA 19102, 215.448.1400.

In a separate mailing, you will receive additional information regarding your plan conversion, including the services that will be available to you through Wells Fargo.