Lincoln Heritage is a very popular life insurance company that is based on final expense insurance. Its Funeral Advantage program is among the best final expense insurance offerings in the United States.
Founded in the year 1963, Lincoln Heritage Life Insurance has sold a lot of final expense life insurance policies for decades in the USA.
Unlike other life insurance companies, Lincoln Heritage focuses mainly on final expense products. This means they do not offer traditional individual life insurance policies such as whole life or term life insurance. The best part is that this insurer funeral advantage product is available in every state in the United States except New York.
If you wish to purchase final expense insurance, we strongly recommend Lincoln Heritage Life Insurance. However, you need to keep in mind that the insurer coverage limits are very low. Also, it does not list riders on its official websites.
Lincoln Heritage Plans and Coverage
Final expense insurance is meant to help cover the costs of funerals, burials, cremations, and any remaining medical bills. It’s a good option for older adults who want guaranteed coverage. One good example is the Lincoln Heritage Funeral Advantage program, which offers up to $20,000 in coverage without needing a medical exam.
The policy includes a cash benefit, fixed premiums for the life of the policy, and a quick payout. Approved claims are paid within 24 hours. You can also add accidental death coverage for up to $100,000.
Lincoln Heritage Life Insurance Pros and Cons
Let’s take a look at the advantages and disadvantages of Lincoln Heritage Life Insurance.
Pros:
- Immediate coverage for qualified applicants.
- Affordable rates starting at $15 a month.
- Offers help with planning funeral arrangements.
- No medical exams required.
- Fast claim payouts.
- Free family support services.
Cons:
- Only one final expense plan is available.
- Must talk to a company representative to apply.
- No term or whole life insurance options.
- Low coverage limits.
- No local agents.
How Much Does Lincoln Heritage Life Insurance Cost?
Lincoln Heritage’s life insurance rates depend on your age, health, and lifestyle, but you can’t get an online quote.
According to our research, you will have to fill out a quote request form on their website. Soon after, we got an email saying a representative would call us with the details. The email also gave information about funeral costs and suggested three questions to ask during the call.
Comparing Lincoln Heritage to Other Insurers
Lincoln Heritage only offers one type of life insurance, which might not suit everyone. If you’re looking for more options, here are some alternatives:
Lincoln Heritage vs. New York Life
New York Life offers more than just life insurance. It provides estate planning, wealth management, and a wide range of policy options. Plus, through its partnership with AARP, it offers exclusive life insurance products for seniors, often without needing a physical exam.
Lincoln Heritage vs. State Farm
If you want a final expense policy, State Farm could be a good alternative. It has local agents for personalized help, but its final expense coverage maxes out at $10,000, less than Lincoln Heritage.
Lincoln Heritage vs. Gerber Life
Gerber Life stands out with a variety of policies, including life insurance for children. It offers term, whole, and guaranteed life insurance, along with products designed specifically for young people and families.
Is Lincoln Heritage a Good Life Insurance Company?
Just as I have mentioned above, Lincoln Heritage could be a good choice if you need final expense insurance. Their Funeral Advantage plan is made to cover funeral costs and related expenses.
It’s available in every state except New York and doesn’t require a medical exam, making the application process simpler. Plus, once approved, claims can be paid within 24 hours, providing quick support in a difficult time.
However, if you’re after more comprehensive life insurance options, Lincoln Heritage might not be the best fit. They don’t offer traditional term or whole life policies, which many people rely on for broader financial protection.
For those needing more than just final expense coverage, it’s worth exploring other insurance providers. Comparing different companies and using tools like life insurance calculators can help you find the right policy for your needs.
FAQ
What kind of insurance does Lincoln Heritage offer?
This insurer is based on final expense insurance. Designed to cover funeral costs and related expenses. Their Funeral Advantage plan provides coverage without requiring a medical exam, making it easier to apply. This type of insurance helps relieve loved ones from financial burdens after a death by quickly covering end-of-life expenses.
Can I cash out my Lincoln Heritage life insurance policy?
Lincoln Heritage life insurance policies typically don’t offer a cash-out option, as they focus on final expense coverage. These policies are meant to cover funeral costs and related expenses after you pass away, rather than providing a cash value you can withdraw while you’re still alive.
How do I file a claim with Lincoln Heritage?
To file a claim with Lincoln Heritage, contact their customer service. You’ll need to provide the policyholder’s details and a death certificate. Once submitted, claims are reviewed quickly, and if approved, Lincoln Heritage aims to pay out within 24 hours, offering fast financial support during tough times.
