2022 Lincoln Heritage Funeral Advantage Review – Pros & Cons

Lincoln Heritage Funeral Advantage Review

Our Lincoln Heritage Funeral Advantage review will look at the different insurance products and how well the company measures up to its competitors.

Lincoln Heritage Funeral Advantage is the final expense insurance or burial insurance program by Lincoln Heritage Life Insurance Company. You may have seen Funeral Advantage TV commercials.

After reading our review, you will know if the Funeral Advantage is the right fit for your funeral insurance needs.

LINCOLN HERITAGE FUNERAL FUNDS 5-STAR RATINGFUNERAL FUNDS 5-STAR RATING
First-day Coverage★★★★★
Ease of Approval★★★
Coverage Amount ★★★★
Pricing
Riders★★★

FOR EASIER NAVIGATION:


DOES LINCOLN HERITAGE OFFER FIRST-DAY COVERAGE?

YES, one of Lincoln Heritage’s burial insurance products offers first-day coverage, but they tend to be more expensive than other companies.

If you qualify, their Funeral Advantage plan comes with a first-day funeral insurance option for seniors who can say no to all the medical questions on the application. Seniors who are generally healthy can easily qualify for this plan.

PROS OF LINCOLN HERITAGE BURIAL INSURANCE

Funeral Consumer Guardian Society membership – this organization will document your final wishes and assist your family after you pass away.

Easy application – can be completed over the phone

No built chart – height and weight are not required. Obese and morbidly obese will easily qualify.

CONS OF LINCOLN HERITAGE BURIAL INSURANCE

Expensive – Lincoln Heritage burial insurance plans are more expensive than other companies.

Only healthy folks can qualify for the first-day coverage plan – You can get first-day coverage for many health issues in other companies.

Tobacco rates – you will be charged tobacco rates if you smoke cigarettes, pipes, cigars, chew tobacco, or smokeless tobacco.

Funeral Advantage is only sold through its own agents – meaning Lincoln Heritage will not allow its agents to represent any other burial insurance company. Their agents can’t help you compare rates from multiple insurers.


LINCOLN HERITAGE BURIAL INSURANCE PLANS

There are two critical components to the Funeral Advantage Program:

FIRST – Final expense life insurance cash benefits are paid within 24 hours once your claim is approved. The keywords are “once a claim is approved”!

Lincoln Heritage doesn’t say they will pay your claim within 24 hours of a death….they say it will be paid in “24 hours once a claim is approved”. This could be days, weeks, or even months before your “claim is approved”.

SECOND – Family support services are provided to policyholders at no additional cost through the Funeral Consumer Guardian Society (FCGS). Lincoln Heritage says they can save money by shopping around for you.

But if your policy cost’s an extra $40 a month, that’s $480 a year, or $4,800 if you live another ten years. Do you want to pay $4,800 to save $1,000…probably not!

NOT EVERYONE IS ELIGIBLE FOR FUNERAL ADVANTAGE

Funeral Advantage insurance does not approve everybody who applies. These are some of the conditions which will make you ineligible:

  • Incarceration
  • Terminal illness
  • You are HIV positive or have AIDS
  • You are bedridden
  • You are in a care facility
  • You are receiving hospice care


RESTRICTIONS OF LINCOLN HERITAGE FUNERAL ADVANTAGE

The health conditions mentioned above would make you ineligible for Funeral Advantage.

Lincoln Heritage Funeral Advantage is available in every state except New York. But, you won’t be able to assign funeral homes as your beneficiary in all states.

Suppose you are considering who to assign as your beneficiary. In that case, we recommend naming your family or relatives you could trust to handle your funeral as your beneficiary instead of a funeral home.

LINCOLN HERITAGE FUNERAL ADVANTAGE INSURANCE PLANS

Lincoln Heritage Funeral Advantage is a whole life final expense insurance offered to 40-85 years old. Lincoln Heritage burial insurance is not offered in New York but is available in 49 states. Let’s examine Lincoln Heritage Funeral Advantage’s pros and cons.

A medical exam is not required to qualify. Approval depends on answers to the health questionnaire and prescription history.

  • Whole life benefits available up to $20,000 is guaranteed never to decrease
  • A fixed monthly premium for the life of the policy
  • The plan will not expire when you reach age 80 as long as premiums are paid

Funeral Advantage has two options in its burial insurance:

  • Immediate benefit plan
  • Modified benefit plan


FUNERAL ADVANTAGE IMMEDIATE BENEFIT PLAN

If you can say no to every health question on the application, you will be offered immediate coverage from day one.

Your death benefit will be 100% payable as soon as you make the first payment. You can also enjoy all the non-forfeiture benefits of a whole life insurance policy.


FUNERAL ADVANTAGE MODIFIED BENEFIT PLAN

You can qualify for a Lincoln Heritage Funeral Advantage modified benefit plan if you are in less than perfect health.

Lincoln Heritage will offer you a modified benefit plan if you answer yes in the modified section:

Here are some of the health issues that will result in Lincoln Heritage putting you into the modified benefit plan:

  • Alzheimer’s Disease or Dementia
  • ALS
  • Blindness from diabetes
  • Blood clots
  • Cirrhosis
  • COPD
  • Chronic bronchitis
  • Cystic Fibrosis
  • Emphysema
  • Hepatitis A, B, or C
  • Kidney disease
  • Heart attack
  • Circulatory surgery
  • Stroke
  • Mini-strokes (TIA attack)
  • Sarcoidosis
  • Tuberculosis

The modified benefit plan does not have first-day protection.

Applicants below age 50 are required to have a 3-year waiting period. 50 years old and older with have 2-year waiting period. Once you survive the waiting period, your beneficiary will be eligible to receive the full death benefit.

If you’re below 50, here’s the policy schedule if you pass away during the first three years:

  • Return of all premiums + 10% interest – 1st Year
  • Return of all premiums+ 20% interest – 2nd Year
  • Return of all premiums + 30% interest – 3rd Year

If you’re 50 or older, here’s the policy schedule if you die during the first two years of the policy:

  • Return of all premiums + 10% interest – 1st Year
  • Return of all premiums + 20% interest – 2nd Year


LINCOLN HERITAGE BURIAL INSURANCE RIDERS

You can also buy a child rider, accidental death and dismemberment rider, and the final expense insurance.

Child Riders

Child riders can be purchased for your children, grandchildren, stepchildren, or great-grandchildren. They should be at least 30 days old and below 18 years old. You can buy child riders at $2.00 per unit. Each unit gives $5,000 of coverage for the eligible child. Five units are the maximum number of units you can buy.

This child rider can be converted to a permanent plan before your child reaches 25 years old.


Accidental Death & Dismemberment Riders

You can buy AD&D as a rider or a standalone product. You can buy up to 8 units.

Each unit can provide the following benefits:

  • $5,000 – Accidental death benefit
  • $2,500 – Single dismemberment
  • $10,000 – Death from an automobile accident
  • $20,000 – Death from a common carrier accident
  • $20,000 – Death due to an act of war or terrorism (this may not be available in all states)
  • $1,000 – Maximum for transporting remains if you die 200 miles away from home.


OTHER BENEFITS:

POLICY LOANS – you can borrow up to 100% of your cash value. This is tax-free. Loans reduce your cash value amount and are subtracted from your death benefit. The interest on policy loans varies by state.


WHEN DOES LINCOLN HERITAGE BURIAL INSURANCE MAKE THE MOST SENSE?

Lincoln Heritage Funeral Advantage is the only final expense insurance promising 24-hour payment for death benefits.

You can see on their website, “Cash benefits are paid within 24 hours, once a claim is approved.” You must take note that it doesn’t say that your claim will be paid within 24 hours of the policyholder’s death.

The beneficiary must submit the proper documentation to the claims department before the approval of the claim.

They must submit a death certificate, an original policy copy, and the beneficiary claim form. Most death certificates in the United States take one to two weeks to process.

If you cannot get a death certificate immediately (this will take 1-2 weeks), how will it be possible to release a 24-hour claim payment?


A CLOSER LOOK AT THEIR ADVERTISED BENEFIT: FUNERAL CONSUMER GUARDIAN SOCIETY (FCGS)

FCGS is an independent senior advocacy organization partnered with Lincoln Heritage to support Funeral Advantage policyholders. They assist families who have recently lost a loved one by providing help in funeral planning.

You must answer a paper questionnaire to assess your wants and needs. These questionnaires are kept on file with the company. Keeping a record of your final wishes will help relieve the burden on our family and expedite the funeral process.

If you choose to keep a record of your final wishes independently (and save a lot of money!), you can keep your copy of your final wishes with your life insurance policies.


FUNERAL FUNDING INFORMATION

This FCGS benefit claims that they can quickly assist your family in receiving the death benefit to pay the funeral bill.

They notify the company about the policyholder’s death. FCGS acts as a middleman between a beneficiary and Lincoln Heritage.

This is unnecessary. Your beneficiary doesn’t need FCGS to call Lincoln Heritage or watch the FCGS video to notify you of your passing. They can call the company directly to file a claim.


FUNERAL PLAN ACTIVATION ASSISTANCE

FCGS says that the beneficiary can call and inform them of the policyholder’s passing. They will then call three to five funeral homes to find any price discounts which may be available.

They then pass the funeral plan (you can check our free sample funeral program template) to the funeral home to carry out the deceased wishes. FCGS family heritage claims they can save the family $600 on cremation and $1,800 on funeral services.

Lincoln Heritage most heavily markets this last benefit.

The company tells consumers that FCGS will bargain with funeral homes on their behalf for them to get a discount and savings.

But a family member can do this on their own and save thousands in premium costs over the life of their policy.

It’s easy to call three to five funeral homes and compare prices. Ask the funeral home to give you the itemized price sheet to identify which one will charge the least.


THE TRUE VALUE OF FCGS

Lincoln Heritage put a high value on FCGS on their Lincoln Heritage Funeral Advantage commercial to justify their overpriced Funeral Advantage program.

The FCGS membership and support is their main selling point to lure senior and elderly customers into buying their product. Every benefit that FCGS provides is not unique or can’t be accessed anywhere. You can get every service for free.

Download our funeral planning guide and keep a printed copy with your pertinent documents and insurance policy.

Don’t ever mistake relying on a third party to inform the insurance company about your death.


LINCOLN HERITAGE UNDERWRITING GUIDELINES

HEALTH QUESTION

1. Has the proposed insured been diagnosed, by a physician, with a terminal illness or AIDS or HIV? (Yes – No)

2. Is the proposed insured currently hospitalized, bedridden, or incarcerated in a care facility? (Yes – No)

You will be denied coverage if you answer “yes” to any of these two questions.


MODIFIED PLAN:

In the previous two years, did you received a diagnosis or treatment for the following medical conditions?

  • Heart disease ( congestive heart failure, heart attack, or heart surgery) (Yes – No)
  • Circulatory system diseases (stroke, TIA, coronary artery disease, aneurysm) (Yes – No)
  • Cancer (leukemia, other types of cancer except for basal cell carcinoma) (Yes – No)
  • Lung disease ( emphysema or COPD except for asthma) (Yes – No)
  • Kidney or liver diseases and organ transplants (Yes – No)
  • Dementia, Alzheimer’s disease, Amyotrophic Lateral Sclerosis, or organic brain syndrome? (Yes – No)
  • Diabetic complications including blindness, amputation, kidney disorder, diabetic coma? (Yes – No)
  • Did you have any diagnostic test which relates to any of the health conditions listed with no results yet? (Yes – No)
  • Alcohol or drug abuse? (Yes – No)

If you answer “yes” to any of these health questions, you will only qualify for their modified plan with a two-year waiting period.


LINCOLN HERITAGE PRICING EXAMPLES

FUNERAL ADVANTAGE IMMEDIATE BENEFIT PRICING – FEMALE

FEMALE AGE
$5,000
$10,000
$15,000
$20,000
$25,000
50
$18.51
$33.96
$49.41
$64.86
$80.30
55
$20.81
$38.56
$56.30
$74.05
$91.80
60 $23.96
$44.86
$65.76
$86.67
$107.57
65 $30.26
$57.46
$84.66
$111.86
$139.06
70 $39.21
$75.36
$111.51
$147.66
$183.81
75 $52.11
$101.16
$150.21
$199.26
$248.31
80 $74.06
$145.06
$216.06
$287.06
$358.06

FUNERAL ADVANTAGE IMMEDIATE BENEFIT PRICING – MALE

MALE AGE
$5,000
$10,000
$15,000
$20,000
$25,000
50
$22.11
$41.16
$60.21
$79.25
$98.30
55
$25.71
$48.36
$71.00
$93.65
$116.30
60 $31.16
$59.26
$87.36
$115.46
$143.57
65 $35.56
$68.06
$100.56
$133.06
$165.56
70 $44.76
$86.46
$128.16
$169.86
$211.57
75 $63.31
$123.56
$183.80
$244.05
$304.30
80 $93.16
$183.26
$273.36
$363.46
$453.56

*Pricing for illustration purposes only and are subject to change without notice.


GETTING APPROVED FOR LINCOLN HERITAGE BURIAL INSURANCE

BURIAL INSURANCE APPLICATION PROCESS
Rates & coverage Agent can help you select both
UnderwritingAgent will help you qualify for the best plan
BeneficiaryYou determine who will get your death benefit
ApplicationAgent submits application to insurance company
ApprovalCongratulations on your new policy!
Policy start date Policy active after 1st payment date
Policy delivery 7-10 business days after first draft date

The entire application process can be completed electronically in several minutes. To make your application quicker, have your important information readily available such as your social security number, beneficiary, and payment information.


THE BEST PAYMENT OPTION

PAYMENT METHODRECOMMENDED?
Savings AccountBest way to pay
Checking AccountBest way to pay
CashNot recommended
Money OrderNot recommended
Cashier's CheckNot recommended
Debit CardNot recommended
Credit CardNot recommended
Direct ExpressNot recommended
PAYMENT FREQUENCYRECOMMENDEDACCEPTED BY
MonthlyRecommendedAll Companies
QuarterlyNot RecommendedSome Companies
Semi-annuallyNot RecommendedSome Companies
AnnuallyNot RecommendedSome Companies


LINCOLN HERITAGE COMPANY OVERVIEW

Lincoln Heritage Life insurance Company is a family-owned and operated business. It has been in business since 1963, when Jack Londen founded the Arizona Trust Life Insurance Company.

In 1972, Tom Londen helped his father in the insurance business by selling insurance door-to-door. In 1975, Lincoln Heritage was purchased by the Londen Insurance Group. In 1987 Tom became the president of Lincoln Heritage, and they were able to sell 100,000 policies.


LINCOLN HERITAGE LIFE INSURANCE COMPANY RATINGS

A.M Best Rating:

Lincoln Heritage has been given a rating of A- (excellent) from A.M Best rating agency which reflects the company’s ability to meet ongoing financial obligations. Lincoln Heritage Insurance’s rating has been the same for several years, which denotes the company’s financial stability to give a timely payout to its customers.

Reviews from BBB:

Lincoln Heritage Companies has been an accredited member of BBB or Better Business Bureau since August 1, 1981, and has been given a grade of A+ on a grading scale of A+ to F.


HOW CAN FUNERAL FUNDS HELP ME?

When seeking the best premium quotes on burial insurance plans from Lincoln Heritage or any type of burial life insurance coverage – the best course of action is to work with an independent agency like Funeral Funds that have access to more than 20 burial insurance carrier. By doing so, you can compare multiple insurance policies and premiums.

If you want to determine which policy works best for you, depending on your financial situation, we can help.

Our job at Funeral Funds is to be the most knowledgeable burial insurance expert available. By doing so, we can knock it out of the park and get you the most accurate quote and affordable rates.

If you are ready to move forward with a purchase, just answer the Instant Final Expense Quotes form on the left of your screen. Give us a call at (888) 862-9456 if you have any questions about the Lincoln Heritage Funeral Advantage program or if you have any questions about life insurance in general. We will be happy to assist you.

ADDITIONAL LINCOLN HERITAGE QUESTIONS & ANSWERS

LINCOLN HERITAGE INSURANCE COMPANY INFORMATION

Is Lincoln Heritage still in business?

Yes, Lincoln Heritage is still in the insurance business selling final expense insurance nationwide.


Is Lincoln Heritage a pyramid scheme?

No, Lincoln Heritage is not a pyramid scheme. It is a family-owned insurance business based in Phoenix. Arizona.


Is Lincoln Heritage legitimate?

Yes, Lincoln Heritage is a legitimate insurance business specializing in life insurance for seniors.


Is Lincoln Heritage Funeral Advantage legit?

Yes, Lincoln Heritage Funeral Advantage Program is legitimate. It offers final expense insurance to 40-85 years old.


Who owns Lincoln Heritage life insurance?

The Londen Insurance Group, Inc, owns Lincoln Heritage Life Insurance.


How long has Lincoln Heritage been in business?

Lincoln Heritage has been in business for 58 years. It has been in business since 1963 as the Arizona Trust Life Insurance Company.


What is Lincoln Heritage’s financial rating?

A.M. Best awarded Lincoln Heritage an A- (Excellent) rating. They maintained this rating for several years, giving the company a stable financial outlook.


What is the Lincoln Heritage website?

The Lincoln Heritage website URL: https://www.lhlic.com. Check out Lincoln Heritage logo.


What is Lincoln Heritage life insurance company phone number?

The Lincoln Heritage Insurance phone numbers are:

Claims: (855) 706-2396
Customer Service: (800) 438-7180
Policy Payments: (800) 930-7459


What is Lincoln Heritage Fax number?

Lincoln Heritage Funeral Advantage fax numbers:

Customer Service Fax: (602) 808-0521
Claims Fax: (602) 808-8845


What is Lincoln Heritage’s customer service number?

Lincoln Heritage Insurance Customer Service number is (800) 438-7180


What is Lincoln Heritage’s email address?

Customer Service Email: service@lhlic.com
Claims Email: claims@lhlic.com


What is Lincoln Heritage members’ login?

Lincoln Heritage Funeral Advantage – LHLIC login


What is Lincoln Heritage agents login?

LHLIC agent login
Lincoln Heritage Funeral Advantage agent login


What is Lincoln Heritage SecureApp?

Lincoln Heritage App is a portal designed for agents to complete and submit forms to the home office. Lincoln Heritage life insurance agents can access this app.


Where is Lincoln Heritage life insurance located?

Lincoln Heritage address is:

4343 E Camelback Road
Suite 400
Phoenix, AZ 85018


Where can I find Lincoln Heritage life insurance reviews?

Lincoln Heritage Funeral Advantage reviews
Read Lincoln Life insurance reviews and Lincoln level advantage reviews.


Where can I find Lincoln Heritage BBB reviews?

Read Lincoln Heritage life insurance company BBB reviews here.
Lincoln Heritage Funeral Advantage’s best insurance reviews.


How can I get a Lincoln Heritage life insurance quote?

You can get a free quote from LHLIC.com life insurance by clicking this link.


How can I make Lincoln Heritage insurance online payment?

Lincoln Heritage online payment is possible. To utilize Lincoln Heritage pay online, you need to register your account with the Lincoln Heritage login page at www lhlic com payment.


How can I access the Lincoln Heritage life insurance claim form?

You can access the Lincoln Heritage Life insurance claim form by calling the service center at (855) 706-2396. You can also report your claim by mail, fax, or email.
E-MAIL to: claims@londen-insurance.com
MAIL to: Lincoln Heritage Life Insurance Company, PO Box 29045, Phoenix, AZ 85038
FAX to: (602) 808-8845


Where can I check the Lincoln Heritage life insurance commercial?

Check out the Lincoln Heritage Funeral Advantage commercial here. Funeral advantage commercial actress is not known.


Where can I check Lincoln Heritage life insurance complaints?

Read Lincoln Heritage complaints here.


Is Lincoln Heritage a good insurance company?

Lincoln Heritage is a legitimate insurance company, but they are not susceptible to lawsuits. Lincoln Heritage lawsuits are from dissatisfied customers and field agents.


What is Funeral Consumer Guardian Society?

The FCGS helps families make informed decisions. They review funeral contracts and price-shop local funeral homes on behalf of the family.


What funeral advantage program assists seniors?

Lincoln Heritage Funeral Advantage program assists seniors.


Is Lincoln Heritage captive?

Yes. Lincoln Heritage Funeral Advantage program is only sold through its agents. They only sell one product and cannot price shop for you.


What is the Lincoln Heritage free gift?

Lincoln Heritage gives out the My Final Wishes Organizer booklet for free. Call (800) 352-9151 to request a free copy.


How much is the average salary for insurance agent?

An entry-level insurance agent makes an average of $51,477 annually in the United States. The average salary insurance broker is $68,179.


Is Lincoln Heritage and Lincoln Financial the same?

Lincoln Financial Group is a different company from Lincoln Heritage. Check Lincoln Financial careers here. Read Lincoln Financial life insurance reviews to understand their product offerings better.


What is Lincoln Heritage commission rates?

The basis of an agent’s commission is a percentage of the policy’s “annual premium.” Check out Lincoln Heritage’s life insurance careers and Lincoln Heritage’s life insurance jobs.



LINCOLN HERITAGE PRODUCTS

What is the Lincoln Heritage Funeral Advantage program?

Lincoln Heritage life insurance Funeral Advantage program is no medical exam final expense insurance underwritten by Lincoln Heritage Insurance Company with a free membership to the senior advocate organization Funeral Consumer Guardian Society (FCGS). This plan boasts that the cash benefits will be paid in 24 hours once the claim is approved.


WHAT TYPE OF INSURANCE IS LINCOLN HERITAGE?

Lincoln Heritage Funeral Advantage is whole life insurance with the following features:

Level death benefit – the death benefit will never decrease
Level premium – premium never increase
Permanent – the policy is active your whole life and will never expire


Lincoln Heritage Funeral Advantage comes in two forms:

Immediate Benefit – first-day coverage
Modified Benefit – with a three-year waiting period


What is Funeral Advantage for seniors?

Lincoln Heritage Funeral Advantage is final expense insurance marketed to seniors to cover final expenses.


How old do you have to be to apply for Funeral Advantage Program?

You must be between 40 and 85 to qualify for this plan.


Can you get first-day coverage with Lincoln Heritage?

Yes. The immediate benefit plan comes with first-day full coverage. If you qualify, you will be covered from day one, and your beneficiary will receive a 100% death benefit when you pass away.


What are the pros and cons of Lincoln Heritage Funeral Advantage?

Pros:

  • Funeral Consumer Guardian Society membership – this organization will document your final wishes and assist your family after you pass away.
  • Easy application – can be completed over the phone
  • No built chart – height and weight is not required. Obese and morbidly obese will easily qualify.

Cons:

  • Expensive – Lincoln Heritage burial insurance plans are more expensive than other companies.
  • Only healthy folks can qualify for the first-day coverage plan – You can get first-day coverage for many health issues in other companies.
  • Tobacco rates – you will be charged tobacco rates if you smoke cigarettes, pipes, cigars, chew tobacco, or smokeless tobacco.
  • Funeral Advantage is only sold through its agents – meaning Lincoln Heritage will not allow its agents to represent any other burial insurance company. Their agents can’t help you compare rates from multiple insurers.


How much life insurance can you get with Lincoln Heritage Funeral Advantage?

You can buy up to a maximum of $20,000 face amount.


Can Lincoln Heritage save you money?

No! Lincoln Insurance is often very expensive. You will pay up to 30-40% more in premium if you buy Lincoln Family Funeral Care Program.



LINCOLN HERITAGE PRICING

What does Lincoln Heritage Funeral Advantage cost?

Lincoln Heritage Funeral Advantage costs vary according to age, gender, tobacco use, and general health. Prices can be found in the Lincoln Heritage rate book.


Where can I get Lincoln Heritage insurance pricing?

Funeral Advantage Immediate Benefit Pricing – Female

FEMALE AGE
$5,000
$10,000
$15,000
$20,000
$25,000
50
$18.51
$33.96
$49.41
$64.86
$80.30
55
$20.81
$38.56
$56.30
$74.05
$91.80
60 $23.96
$44.86
$65.76
$86.67
$107.57
65 $30.26
$57.46
$84.66
$111.86
$139.06
70 $39.21
$75.36
$111.51
$147.66
$183.81
75 $52.11
$101.16
$150.21
$199.26
$248.31
80 $74.06
$145.06
$216.06
$287.06
$358.06

Funeral Advantage Immediate Benefit Pricing – Male

MALE AGE
$5,000
$10,000
$15,000
$20,000
$25,000
50
$22.11
$41.16
$60.21
$79.25
$98.30
55
$25.71
$48.36
$71.00
$93.65
$116.30
60 $31.16
$59.26
$87.36
$115.46
$143.57
65 $35.56
$68.06
$100.56
$133.06
$165.56
70 $44.76
$86.46
$128.16
$169.86
$211.57
75 $63.31
$123.56
$183.80
$244.05
$304.30
80 $93.16
$183.26
$273.36
$363.46
$453.56


Is Lincoln Heritage expensive?

Yes, Lincoln Heritage Funeral Advantage plans are expensive. Expect to pay 30-40% more than other companies selling the same whole life insurance product.

Here’s a cost comparison for a 70-year-old male and female wanting to buy a $10,000 policy.

70-year-old male -Lincoln Heritage monthly premium – $86.46

70-year-old male – Trinity Life monthly premium – $69.23

You will pay $17.23 more monthly if you buy the Lincoln Heritage plan. That is $206.76 in a year and $2,067.60 overpayment in 10 years.


70-year-old female – Lincoln Heritage monthly premium – $75.36

70-year-old female – Trinity Life monthly premium – $52.03

You will pay $23.33 more monthly if you buy the Lincoln Heritage plan. That is $279.96 a year and $2,799.60 overpayment in 10 years.


LINCOLN HERITAGE ELIGIBILITY

Do you need a medical exam to qualify for Lincoln Heritage life insurance?

No, Lincoln Heritage is a no-medical exam life insurance policy. You don’t need to submit blood and urine samples either. You only need to answer a series of health questions to qualify.


Does Lincoln Heritage ask health questions?

Lincoln Heritage asks health questions as part of their life insurance underwriting.


LINCOLN HERITAGE WAITING PERIOD

Does Lincoln Heritage Funeral Advantage have a waiting period?

Lincoln Heritage Funeral Advantage’s modified plan has a three-year waiting period.


What does a modified benefit period mean?

A modified benefit period means Lincoln Heritage will not pay the full death benefit to your beneficiary during the waiting period.

Here’s their policy schedule for the modified plan:

  • 1st year – return of all premiums + 10% interest
  • 2nd year – return of all premiums + 20% interest
  • 3rd year – return of all premiums + 30% interest

Your beneficiary will only receive a 100% death benefit if you die in the fourth year of the policy.

Your beneficiary shouldn’t wait that long! This plan is one of the worst available to seniors.

You will be better off applying for a guaranteed acceptance life insurance which is cheaper with a two-year waiting period only.


What are the benefits of the Funeral Consumer Guardian Society (FCGS)?

These benefits are the main selling points of the Funeral Advantage Program:

  • Provides funeral cost advice and price saving – you need to call FCGS to contact funeral homes and get the best pricing. You can do it independently because you know your needs and budget.
  • Provides emotional support to loved ones – they provide grief counseling to loved ones.
  • Claims they can assist families in receiving death benefits quickly – you will need to call FCGS to inform them of your loved ones passing. The quickest way is to call Lincoln Heritage to start the claim process immediately.
  • Help document final wishes – they will send a paper questionnaire detailing your final wishes and store them in their files. When you die, your loved ones need to call them to know your final wishes. You should not depend on FCGS to know your loved ones’ final wishes. This document must be kept together with their documents with instructions to access it when you are gone.


Can your claims be paid in 24 hours?

Lincoln Heritage boasts that they will pay in 24 hours. However, you must also note that they say “once the claim is approved”.

They do not specifically say how long a claim takes to approve.

In real life, you cannot have a claim paid within 24 hours of passing. The claim needs to be processed and verified before it can be paid.

You will need a certified copy of a death certificate to start the claim process, and it takes a week or two to get one. So, how is it possible to release a claim in 24 hours?


LINCOLN HERITAGE LENGTH OF COVERAGE

Does Lincoln Heritage Funeral Advantage expire?

Heritage Advantage Lincoln Funeral plans are both whole life insurance or permanent insurance that neve expires. The policy will remain in force your whole life.


LINCOLN HERITAGE POLICY REPLACEMENT

How can I find a replacement for my Lincoln Heritage policy?

You can find a replacement for your Lincoln Heritage policy by working with an independent life insurance agent who can price shop for you and recommend the best insurance policy at the best price.

Ensure your Lincoln Heritage policy is active while looking for a replacement policy. When your replacement policy is active, you can cancel your Lincoln Heritage insurance by calling the customer service hotline.


How do I cancel my Lincoln Heritage policy?

You can get your Lincoln Heritage cancellation form by logging into your member account and accomplishing the form there. Another way to cancel your policy is by calling the Lincoln Heritage Life Insurance customer service hotline at (800) 438-7180.

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