Lincoln Heritage Funeral Advantage Review

Lincoln Heritage Funeral Advantage Review: Costs, Customer Reviews & More

Last Updated December 3, 2024

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An elderly man wistfully looking off into the distance while holding a picture frame. The Final Expense Benefits logo is on the top left corner of the image with the words "Lincoln Heritage Funeral Advantage Review" below the logo.

What is Lincoln Heritage? What is a funeral advantage plan? The Lincoln Heritage Funeral Advantage plan is meant to assist you in paying for your final expenses, but how true is this? Funeral costs in the US are on the rise, and you need something to take care of your final wishes so your family isn’t left with a financial burden. We’ll show you exactly what Lincoln Heritage will cover and why we don’t recommend this final expense insurance

Are you looking for the best final expense insurance for you and your family? At Final Expense Benefits, we specialize in finding the best burial insurance for you. Call us at (866) 786-0725 to speak to one of our talented agents or use our free quoting tool to start your journey to peace of mind. 

History of Lincoln Heritage Life Insurance

Founded by Jack Londen in 1963, Lincoln Heritage Life Insurance has operated as a family-owned company for over 60 years. Lincoln Heritage has the “all-American” story of a man who has worked since childhood as an entrepreneur and remained within the final expense insurance niche ever since. Jack’s son, Tom, joined in selling life insurance which led to the duo acquiring and consolidating over twenty-five life insurance companies into Lincoln Heritage Life Insurance. The company continues to be family-run and owned by three of Jack Londen’s descendants in prominent positions of power. 

With such a wholesome and humble start, what has caused Lincoln Heritage Life Insurance to gain such a low customer satisfaction rate? Jack Londen may have created Lincoln Heritage to serve and protect communities, but Lincoln Heritage reviews show their agents’ consistently annoying (and almost predatory behavior). 

Lincoln Heritage Funeral Advantage Program

If you’ve heard of the Lincoln Heritage Funeral Advantage program, you might think that the program assists seniors. We know that finding life insurance can be stressful and near impossible. Thankfully, there are final expense insurance providers that give seniors and their families exactly what they need.  However, Lincoln Heritage Life Insurance is not a program we recommend. With an intense underwriting process and prices over 30% more than other leading life insurance companies, the Lincoln Heritage Funeral Advantage program can cause more stress than comfort in difficult times. 

Lincoln Heritage Funeral Advantage Plan Costs

Did you know the average funeral cost is $10,000? So, when looking for final expense insurance, the minimum coverage you should be looking for is $10,000 A healthy 60-year-old female enrolled in the Lincoln Heritage Funeral Advantage program could pay around $44.86 monthly. That’s around 26% more than the top-rated insurance providers with the same coverage.  At Final Expense Benefits, we contract with only the top “A” rated senior life insurance companies with strong reputations such as Mutual of Omaha, Aetna, and Prosperity. These carriers average around $33 for the same $10,000 coverage. And the underwriting is much easier, there are no waiting periods, and coverage starts the next day.  On average, Lincoln Heritage Life Insurance costs 30% to 150% more than the best funeral insurance carriers due to the intense underwriting process. Plus, their sales agents have been known to have predatory behaviors that push customers to purchase their expensive policies.  Here are the rates that you can expect for healthy individuals: 

Funeral Advantage Lincoln Heritage Male Rate Chart

Male-Age Lincoln Heritage $10,000 Top A+ Rated Carrier $10,000
50
$41.16
$30.68
55
$48.36
$35.95
60
$59.26
$43.76
65
$68.06
$56.48
70
$86.46
$74.61
75
$123.56
$99.97
80
$183.26
$139.73

These figures were obtained from the NFDA and are estimates only. For a detailed quote, please contact an agent. 

Funeral Advantage Lincoln Heritage Female Rate Chart

Female-Age Lincoln Heritage $10,000 Top A+ Rated Carrier $10,000
50
$33.96
$24.31
55
$38.56
$27.71
60
$44.86
$32.87
65
$57.46
$41.01
70
$75.36
$53.24
75
$101.16
$72.41
80
$145.06
$98.43

These figures were obtained from the NFDA and are estimates only. For a detailed quote, please contact an agent. 

Why You Pay More for Lincoln Heritage Life Insurance

The main reason why Lincoln Heritage Life Insurance is more expensive than similar policies is because of its underwriting process. If you have any pre-existing conditions, the price of a Lincoln Heritage policy goes up significantly, so if you have any of these conditions, you should look at other policies

  • Pulmonary Hypertension
  • Blood Clots
  • Heart Surgery
  • Stroke
  • Hepatitis A, B, or C
  • Cirrhosis
  • Kidney Disease
  • Bronchitis
  • Emphysema

However, even if you haven’t smoked a day in your life, you’ll find yourself paying too much for a Lincoln Heritage Life Insurance plan. And by claiming any health or pre-existing conditions, you can more than double the cost of what other insurance carriers are charging. 

Funeral Advantage Lincoln Heritage

Funeral Consumer Guardian Society & Lincoln Heritage Life Insurance

One benefit to the Lincoln Heritage Funeral Advantage program is the included benefit to the Funeral Consumer Guardian Society (FCGS). The FCGS assists seniors with funeral planning and activation help. This aids seniors and their families from the mental burden of a funeral. Here’s what the FCGS claims: 

  • Helps Find Affordable Funeral Services
    The FCGS will help families find and compare funeral costs for their loved ones. They will help find the most cost-effective way to honor the deceased wishes. 
  • Education on Funeral Services
    Educates you and your family about all the available options so everyone can make the most informed decisions. 
  • Funeral Contract Review
    The FCGS works with your chosen funeral home to ensure all bills are paid and contracts are correct. 
  • Document Final Wishes
    Ensure that policyholders have the funeral and burial service they want after passing.

Lincoln Heritage Funeral Advantage’s 24-Hour Claim

Lincoln Heritage Funeral Advantage plans claim to pay benefits within 24 hours after death, but how true is that claim

The truth is that no funeral insurance company can pay death benefits in 24 hours. The earliest is normally 48 hours after death. No other senior life insurance companies, such as Colonial Penn 995, Mutual of Omaha, and Aenta, claim to offer payouts 24 hours after death. 

So why does Lincoln Heritage Life Insurance make this claim? It’s all over their website and is one of their biggest slogans for getting a final expense policy with them. 

The secret lies in the wording of their slogan: approved. For death claims, Lincoln Heritage Life Insurance states they will need a certified copy of the insured death certificate with the original policy. You will receive the death benefit within 24 hours after they receive and approve those items. However, this process could be more complicated because most of their insured have a guaranteed life insurance policy. 

If you pass away within the first two years of holding a Lincoln Heritage Funeral Advantage policy, your beneficiary must submit a certified death certificate and the insured’s medical records. Lincoln Heritage Life Insurance underwriters know that dying within the first two years will allow you to get a graded death benefit, so they will try to claim your policy lapsed or that you were never eligible to begin with. This allows Lincoln Heritage to distribute a percentage of premiums paid for the policy lifetime

Lincoln Heritage Life Insurance Pros & Cons

Pros of Lincoln Heritage Life Insurance

  • No Medical Exam Required
    Lincoln Heritage Life Insurance has no medical exams so almost anyone can get approved by answering a few medical and health questions. 
  • Funeral Preparation Assistance at No Additional Cost
    One of the best features of having a policy through Lincoln Heritage Life Insurance is its partnership with the Funeral Consumer Guardian Society. Your loved ones will have peace of mind knowing that funeral planning is taken care of.

Cons of Lincoln Heritage Life Insurance

  • Waiting Period
    While the Lincoln Heritage Funeral Advantage program claims no waiting period for a death benefit, that isn’t completely true for policyholders in poor health. If you only qualify for a modified plan, you’ll have a waiting period of two to three years for the full death benefit.
  • No Online Quotes or Claims
    Unfortunately, the only way to get a quote or claim from Lincoln Heritage is to call them or speak to one of their door-to-door salesmen.
  • High Prices
    The Lincoln Heritage Life Insurance Company has some of the highest prices for what you’re getting compared to other top final expense insurance companies.
  • Door-to-Door Agents
    Lincoln Heritage will send live agents to your house, which has caused the number of complaints about this type of marketing to increase in their reviews.

Lincoln Heritage Funeral Advantage Reviews

Surprisingly, Lincoln Heritage has decent third-party reviews. However, their aggressive tactics, high prices, and deceptive marketing have caused their customer reviews to be lower than average, which makes it a hard insurance to recommend. Here’s what people are saying about Lincoln Heritage Funeral Advantage plans: 

Third-Party Reviews

NAIC Complaint Index

The National Association of Insurance Commissioners (NAIC) tracks customer complaints on their Complaint Index. The average company scores a 1 on their scale, but Lincoln Heritage scored 0.67 in 2023, which is lower than the national average. 

BBB

The Better Business Bureau (BBB) helps customers find trustworthy businesses and tracks customer complaints. Lincoln Heritage is BBB accredited with an A+ rating, the highest grade you can earn on their scale. Their customer review ratings are also relatively high, at 4.49 out of 5

AM Best

AM Best is a rating agency focused on the creditworthiness of insurance companies worldwide. They grade companies from A+ to F and help determine the likelihood of a company defaulting on its financial obligations to its customers. Lincoln Heritage received an A-, the third-highest rating a company can receive. 

Customer Reviews

***Warning, do not purchase from this company*** They scam old people! My father paid $200 a month and when he went to cancel the policy, they did not return any of his money!!! 5 years of payments down the drain and he's on a fixed income!
African woman
Leticia S. ✓
Rancho Cordova, CA⭐
My father had payments on 2 policies deducted from his bank account every month. He passed two months ago and we still haven't received a dime from them after being told they are on the way. 
Pretty older woman
Marie W. ✓
Springfield, MO ⭐
I'm a former policy holder who had to cancel my policy due to loss of income. After a year of making monthly payments, was told I would only get .61 back. I find this very ridiculous. Was sending $66 monthly which means I've sent over $792. Customer rep said only .61 had accumulated. Why wasn't I told all this when the policy was written up? In response to Lincoln Heritage, why would I want to talk to a company that's gonna send me 61 from over $792 that I sent over the past year in good faith? Isn't that called blatant theft?
John L. ✓
Springfield, MO⭐

Conclusion

After an extensive analysis, we determine that if you’re looking for final expense insurance to cover a funeral, burial, or cremation, we have plenty of industry-leading companies that will approve you regardless of your medical history AND give you a significantly lower premium that you can afford. 

On average, we can provide you with or lower your current monthly rate by more than 30% vs Lincoln Heritage Funeral Advantage

No matter your health status or income, we can help you get approved and on a plan starting the next day. Call us at (866) 786-0725 or use our free quoting tool to receive accurate premium prices and more. 

Frequently Asked Questions

Is Lincoln Heritage a Pyramid Scheme?

No, Lincoln Heritage is not a pyramid scheme or multi-level marketing scheme. Although, they have been reported to be predatory in their sales tactics. 

Is Lincoln Heritage Life Insurance Legit?

Yes, Lincoln Heritage Life Insurance is legit. However, they cost more than a typical final expense insurance, and you’ll have to undergo a strict underwriting process. 

Are There Any Benefits to the Lincoln Heritage Funeral Advantage Program?

Every Lincoln Heritage Funeral Advantage program comes with a free Funeral Consumer Guardian Society membership. They will help plan your funeral and ensure everything is paid for.