Lincoln Heritage Life Insurance Review

Jeff Root Jeff Root
Posted in Reviews

In our Lincoln Heritage Life Insurance Review, we will provide an unbiased overview with just the facts.

If you’re considering Lincoln Heritage for your final expense insurance, we recommend completing the quote form on the side of this page so you can compare the rest of the market to their offering.  Sample Lincoln Heritage rates are at the bottom of this article with comparisons as well.   You’ll find that you can do much better than Lincoln Heritage when it comes to price.

Choosing a life insurance policy is an important decision. Considering that Lincoln Heritage Life Insurance is a well-known and respected final expense insurance company, you may be considering Lincoln Heritage for your final expense insurance policy. When making a final decision, it is a good idea to review the pros and cons of the company you choose.

First, its important to know that we aren’t affiliated with Lincoln Heritage. So, our opinions are just that-our opinions. If you need to contact Lincoln Heritage you can reach them at 800-438-7180.

Lincoln Heritage Life Insurance Company is the leading provider of final expense insurance in the US. Before we get to the exact details about Lincoln Heritage, we must examine the product they sell exclusively.

What is final expense insurance?

Final expense insurance is also called burial insurance, funeral insurance, and sometimes called burial life insurance. Simply put, final expense insurance is a whole life insurance policy designed to cover someone’s funeral expenses or final expenses at the time of their passing. Final expenses most often include funeral expenses, medical bills, and any other expenses that your beneficiary wishes to pay. Most final expense insurance policies are smaller amounts ranging from $5000 to $50,000 in coverage.

Benefits of Final Expense Insurance

• Policies are good for your WHOLE life
• Policies can’t be cancelled due to your age or health
• Monthly premiums will never increase
• Death benefit will never decrease
• Policies build cash value over time
• Easy application & quick approval

Who needs final expense insurance?

Final expense plans are a great option for those wanting protection for a lifetime and for those who want to be protected from expensive funeral bills. The first step when determining your needs is to sit down and look over for budget and future income. An average funeral in the United States right is between $8500 to $10,000 depending on what state you live in. So, if you don’t have these funds set aside then a final expense insurance plan might be great option for you.

Plus, nobody really knows what a funeral will cost 20 years from now. So, it’s important to plan ahead because leaving debt to your family members is not the best thing to do. After all, who wants to be remembered as a burden after their death? That is why funeral insurance is a popular life insurance choice for those who want to protect their families from financial strain after they pass.

Lincoln Heritage Company Overview

Lincoln Heritage is a provider of final expense insurance. The program they sell is called Lincoln Heritage Funeral Advantage and this plan is the best-selling final expense plan in the country.

Lincoln Heritage Life Insurance Company was an innovator of sorts as they paved the way for claims to be paid faster for life insurance claims when their company was founded in 1963. They are a family owned company, with a third-generation member, Jack London III as Chairman of the Board. From the beginning, Lincoln Heritage Life Insurance Company was unique in its field because they sold only one type of life insurance they called their Funeral Advantage Plan. After 55 years in the industry, Lincoln Heritage Life Insurance Company is the leader in their field for funeral insurance sales.

Lincoln Heritage Funeral Advantage Program Details

• No health exams
• Simple one-page application
• Coverage for ages 40-85
• No height & weight chart
• Optional riders available (Child – AD&D)
• Prescription history check
• Face amounts up to $20,000

Lincoln Heritage Funeral Advantage Application Overview


ALL Funeral Advantage insurance policies are underwritten by Lincoln Heritage Life Insurance Company. Underwriting overview below includes questions taken directly from the Lincoln Heritage Life Insurance application.

Lincoln Heritage does offer tobacco rates and non-tobacco rates on their final expense plan. Here is how the question reads on their application: Has the proposed insured used any form of tobacco in the past 12 months? Unfortunately, this includes all forms of tobacco including cigars, chew, e-cigarettes and pipes. So, you can expect to pay higher rates for using tobacco.
Lincoln Heritage also has two knockout questions on their application that you have to answer NO to or you will be turned down for coverage. The questions are listed as Uninsurable Conditions on their application:

Has the proposed insured been diagnosed, by a physician, with a terminal illness or AIDS (Acquired Immune Deficiency Syndrome)?

Is the proposed insured currently incarcerated, hospitalized, in a care facility or receiving hospice care?

If you can answer NO to the two questions above, you will qualify for immediate coverage or their modified plan.

The next section of their application is listed as Significant Health Conditions. If you answer Yes to any of the questions listed below, your death benefit will be modified. Modified meaning you will have a mandatory waiting period before your death benefit will be paid out. From 40-50 years old, your waiting period is 3 years and over 50 years old your wait will be 2 years.
Here are the Significant Health Conditions questions as they are listed on their application:

Has the proposed insured been hospitalized two or more times in the past six months?

If under age 25, has the proposed insured been diagnosed with Cerebral Palsy, Cystic Fibrosis, Muscular Dystrophy or Multiple Sclerosis?

In the past two years, has the proposed insured had, been diagnosed with, been treated for or taken medication for any of the following conditions:

Heart disease including Heart Attack, Heart Surgery, Congestive Heart Failure or Angina Pectoris?

Alzheimer’s disease or Dementia, Organic Brain Syndrome, ALS or does the proposed insured need assistance performing their Activities of Daily Living including feeding, bathing or dressing themselves?

Disease of the Circulatory System, including Stroke, TIA or Aneurysm, or has the proposed insured had or been advised to have surgery to improve circulation?
Cancer or any form of Malignancy other than Basal Cell Skin Cancer?

Disease of the lungs, other than Asthma, including COPD or Emphysema; oxygen to assist in breathing; Liver disease including Cirrhosis or Hepatitis C; Kidney disease including Kidney Dialysis; Organ Transplant?

Alcohol abuse or drug abuse?

Complications of Diabetes including Insulin Shock, Amputation, Diabetic Coma, Blindness or Kidney Disorder?

Has the proposed insured been positively diagnosed or treated, by a physician, for HIV (Human Immunodeficiency Virus)?

Has the proposed insured had or been advised to have a diagnostic test for which results have not yet been received?

If you can answer NO to all the health questions on the application, you would qualify for immediate coverage. Immediate coverage means your death benefit would be paid out immediately, without ANY waiting period. Immediate coverage is the best coverage available under the Lincoln Heritage life insurance plan.

Rider Options on Application

Lincoln Heritage has two additional riders you can add to their final expense policy. Both are clearly listed on the application for you to choose from. The cost of these riders will be added into your total monthly premium.

Child Rider – This rider can be added to an existing policy in order to cover children or grandchildren with life insurance. This rider policy is sold in increments of $5000 called units. Up to $25,000 of rider coverage may be added and the children or grandchildren have the option to convert these riders into their own individual policies before they are 25 years old.

Accidental Death or Dismemberment Rider (AD&D Rider)- This type of addition may be purchased as a rider with a burial insurance policy. In contrast to the Child Rider, the AD&D Rider is sold as a unit with an extensive variety of payout benefits for different situations. For instance, accidental death pays out $5,000 per unit but an accident due to car accident pays out $10,000. Other benefits included in the AD&D Rider are accidental dismemberment ($2,500 pay out per unit,) Common Carrier Accidental Death meaning death while on a carrier such as an aircraft, boat, train, or bus ($20,000 pay out per unit,) or death due to war or terrorism ($20,000 pay out per unit.)

Funeral Consumer Guardian Society

Funeral Consumer Guardian Society (FCGS) as a senior consumer advocate organization that helps its members with funeral planning services. FCGS states on their site that they are not affiliated with any religion, funeral home, cemetery, or any particular funeral approach.

FCGS also states they will help you with funeral wishes, funeral arrangements and also help your family shop funeral homes for the best burial services rates. Anyone who purchases a Lincoln Heritage Life Insurance policy is given a FCGS membership. But, don’t get excited because you are paying for it. Unfortunately, even if you think you can handle your own funeral arrangements, the FCGS membership is already “thrown in”.

Pros of Lincoln Heritage Funeral Advantage Program

• Leading provider of final expense – Lincoln Heritage is the leading provider of final expense insurance in the US. They currently have over a million policies in force.
• Financially Strong – Lincoln Heritage Life Insurance Company has an excellent rating with AM Best and has maintained this rating for several years now.
• Customer Service – Lincoln Heritage maintains a A+ rating with the Better Business Bureau.
• Specializes in final expense – Lincoln Heritage only sells final expense insurance. This is a plus since they specialize in only burial insurance.

Cons of Lincoln Heritage Funeral Advantage Program

• Only ONE program to choose from – Obviously, Lincoln Heritage only sells their Funeral Advantage program. Unfortunately, this means one underwriting department and not many choices for the consumer. The best way to purchase final expense insurance is to use an independent broker in our opinion. Most final expenses companies will view your health conditions differently. Some health conditions or medications might be more favorable with one company versus another. This is why it important to use an independent broker who has access to multiple companies. This will ensure that YOU get the best price and the best coverage. Plus, you will actually get the correct policy that fits your individual health conditions.

• Strict Underwriting – Lincoln Heritage has super strict underwriting. In fact, on their application they call their health questions section “Significant Health Conditions”. Several of the health conditions listed are far from significant. In fact, most other final expense companies would approve you for Preferred/Day 1 coverage. Remember, if you answer yes to any of the questions in this section, your only option with Lincoln Heritage is their Modified plan. Once again, ALL modified plans HAVE A WAITING PERIOD and the waiting period can be up to 3 years depending on your age. When purchasing a burial insurance policy, the goal ALWAYS is to find a company that will approve you immediately without a waiting period.

• Pricing is higher than most companies – Lincoln Heritage Life Insurance plans are priced higher than most final expense companies. Especially, if you don’t qualify for their immediate coverage. Listed below are the rates from several companies so you can compare:

As you can see from the comparison charts, while Lincoln Heritage is the leading seller in the industry for final expense insurance, but they are not the best value available. When you make your final decision regarding burial insurance, we hope our Lincoln Heritage Life Insurance Review has been helpful.

We always recommend shopping several funeral insurance companies before making your final decision. Once again, using an insurance broker with access to multiple final expense companies will ensure you have plenty of options/plans to choose from. Most importantly, is finding the CORRECT plan that is specific to your health conditions with the lowest priced policy possible.

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