Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance. Not only does he strive to provide you with the ...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Mar 9, 2021

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Lincoln Heritage Funeral Advantage Life Insurance is designed to offer peace of mind knowing your funeral expenses are covered. It is offered by the Lincoln Heritage Life Insurance Company.

Funeral Advantage is a type of final expense insurance or burial insurance coverage. These policies provide senior citizens with the option to purchase permanent life insurance coverage ranging from $2,000 to $20,000.

The average funeral cost is between $6,000 and $10,000. This can put a significant strain on families as they try to honor the wishes of their loved one. A policy from Lincoln Heritage can help cover the cost of funeral arrangement and reduce the financial burden that this cost can put on families.

With Lincoln Heritage Funeral Advantage, you can ensure that your beneficiaries will have the funds needed to handle these costs and other remaining final expenses. However, the popular senior life insurance coverage may not provide a suitable option for everyone.

In fact, this policy comes with a few drawbacks that you need to explore before receiving a quote or potentially purchasing coverage.

The following Funeral Advantage life insurance review examines the main features along with important pros and cons of the popular insurance coverage.

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Why choose Lincoln Heritage Funeral Advantage Insurance?

Funeral Advantage is the name of the life insurance coverage offered by Lincoln Heritage. Founded in 1963, the company has earned a reputation for providing fast coverage, overnight claims processing, and 24-hour customer service.

The life insurance company is also very well known for offering funeral insurance. We can even bet that there is an excellent chance you have seen their television ad on the Funeral Advantage life insurance plan.

Lincoln Heritage is also a leading underwriter of burial insurance policies. Policies are underwritten and issued by Londen Insurance Group, who is the parent company for Lincoln Heritage. Currently, the company has over a million active policies valued at more than 8 billion dollars.

Every policyholder that purchases life insurance coverage through the Funeral Advantage program will also receive a complimentary service of family support through their partnership with the Funeral Consumer Guardian Society (FCGS).

In addition to having support access to the Funeral Consumer Guardian Society, Lincoln Heritage also provides two free booklets when enrolling in the life insurance program or even just curious about more information on the coverage that Lincoln Heritage has available. Again all of this is free of extra cost.

  • 9 Things Every Senior Needs to Know About Funerals
  • My Final Wishes Organizer

9 Things Every Senior Needs to Know About Funerals discusses why funeral costs are on the rise and how you can avoid overspending when planning. It also provides information about your federal rights when it comes to funerals.

My Final Wishes Organizer is a booklet to help ensure that families know how to carry out the final wishes of their loved one.

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What professional ratings has Lincoln Heritage Received?

When purchasing any type of life insurance, it helps to choose a financially secure company. This ensures that the insurer has the funds available to pay your beneficiaries.

Lincoln Heritage currently has a strong and stable financial outlook with positive professional ratings from the top rating agencies.

Lincoln Heritage Ratings

AM Best has awarded the company an A- (Excellent) rating as of July 2019, giving the company a stable outlook. The company also maintains an A+ Better Business Bureau (BBB) rating and has been accredited since 1981.

What is The Funeral Advantage program?

The Funeral Advantage life insurance program is whole life insurance coverage, otherwise known as permanent insurance. The life insurance is marketed and sold as funeral or burial insurance. The primary reason for this is due to the small amount of coverage that can be purchased, which typically covers the cost of a funeral.

The Funeral Advantage Program consists of a few important features. Here is a quick overview of the main features of the insurance policy:

  • Whole life insurance
  • No medical exams
  • Ages 40 to 85
  • One-page application
  • Simple health questions
  • Coverage up to $20,000

Lincoln Heritage offers a simple one-page application process with absolutely no medical exams. However, you need to complete a short health questionnaire.

Based on your responses and a search of your prescription medication history, you may qualify for immediate coverage or a modified benefit plan.

LEVEL BENEFIT: Qualifying applicants will have full death benefit protection beginning day one.

MODIFIED BENEFIT: Applicants who have a history of health issues that do not meet the underwriting guidelines may qualify for the modified benefit plan. The modified benefit has a two-year wait from the start of the policy before the full death benefit kicks in. If you’re between the ages of 40-50, the wait is three years.

Ages 40-50 Modify Death Benefit Payout Schedule

Policy Year 1

  • Death benefit is equal to a full return or premium plus 10% interest

Policy Year 2

  • Death benefit is equal to a full return or premium plus 20% interest

Policy Year 3

  • Death benefit is equal to a full return or premium plus 30% interest

Ages 51-85 Modify Death Benefit Payout Schedule

Policy Year 1

  • Death benefit is equal to a full return or premium plus 10% interest

Policy Year 2

  • Death benefit is equal to a full return or premium plus 20% interest

Immediate coverage is only available for those with no significant health issues. If you do not qualify for immediate coverage, you may receive an offer for the modified plan and higher premiums.

If you pass away before the end of the waiting period, your beneficiaries receive a limited payout. The payout is equal to the premiums paid plus interest.

Lincoln Heritage offers up to $20,000 coverage for its simplified application process. If you want additional coverage, you need to speak with an agent.

Along with the cash death benefit, the policy includes many optional add-ons and riders:

  • Optional 20 payment option
  • Additional $100,000 with accidental death rider
  • Add up to $25,000 of children insurance coverage

Each of these add-on policies increases your premiums. The most promoted add-on is the accidental death benefit. It allows up to $100,000 in additional coverage if you die from an accident.

Company: Lincoln Heritage
Headquarters: Phoenix, AZ
Year Founded: 1963
AM Best Rating: A-

Funeral Advantage Review

What are the application questions for funeral advantage?

Most applications for final expense insurance tend to be very short. This type of coverage also falls under simplified underwriting meaning that a medical exam will not be required for approval.

Instead, qualification often depends on the responses to a series of health questions along with background checks that are run by the insurance company to help verify answers.

There’s no doubt about; Funeral Advantage offers a very simple application that can be completed rather quickly.

The first part of the application consists of necessary information such a name, address, and beneficiary information.

The second part asks if you would like to add accidental death coverage and or child coverage. Remember that the total about of accidental death coverage is $100,000 and for child coverage $25,000. Selecting either of the options will result in additional costs.

In the same section as the option rider options, you can choose if you would like to shorten your payments into 20 years or 15 years if you qualify for the modified benefit plan.

The third part of the application is where we get into the medical questions. The first question wants to know if you use tobacco. Using tobacco does not disqualify you from getting coverage but will have a higher rate if you have used it within the last 12 months.

Funeral Advantage Health Questions


Answering “yes” to the following two questions will disqualify you from getting a Lincoln Heritage Funeral Advantage policy.

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

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


Answering “yes” to the following Funeral Advantage application health questions will qualify you for the modified benefit plan.

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

#2. If under age 25, has the proposed insured been diagnosed with cerebral palsy, cystic fibrosis, muscular dystrophy or multiple sclerosis?

#3. 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 (Lou Gehrig’s disease) or does the proposed insured need assistance
  • Disease of the circulatory system, including stroke, TIA (Transient Ischemic Attack) 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 (Chronic Obstructive Pulmonary Disease) 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?

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

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

The final parts of the application will require you to disclose any medications prescribed in the last 2 years, provide doctors information and report whether or not you will be replacing any existing life insurance coverage.

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What is Family Support Services from FCGS?

As mentioned, the Funeral Advantage Program comes with a free service designed to help families; it is offered through the Funeral Consumer Guardian Society (FCGS). Lincoln Heritage handles the death benefit and insurance riders, while FCGS provides the support services.

FCGS offers services to help with your end of life planning, including:

  • Funeral Planning Assistance
  • Funeral Funding Information
  • Funeral Plan Security Service
  • Funeral Plan Activation Help

The first service helps your family file a claim with Lincoln Heritage immediately following your death. Instead of notifying Lincoln Heritage directly, FCGS notifies the company about your passing.

The funeral plan security service provides a storage solution for securing your final plans. FCGS stores your plans in our computer system.

After you pass, the funeral plan activation assistance service kicks in. FCGS contacts the funeral home and passes on the funeral plans. However, these services may not justify the higher cost of the Funeral Advantage Program.

What are the pros of choosing Funeral Advantage Life Insurance?

Despite higher costs, this policy comes with several attractive advantages. No matter if you qualify for immediate coverage or the modified plan, you may enjoy the following:

  • Simplified underwriting process
  • Available riders and add-ons
  • Approval of claims within 24 hours

One of the highlights of the Funeral Advantage program is the fast processing of claims after the insured passes. Families often arrange funerals within days of their loved ones passing. This requires immediate access to funds to cover the costs.

Lincoln Heritage claims to approve claims within 24 hours. While the company claims that FCGS aids with the swift approval process, many other insurers also offer immediate approval and fast claims processing.

As nice of a free service that the FCGS can provide Lincoln Heritage customers, there are plenty of free services that can offer the same benefits. For example, you can visit which is a website that offers tons of free information on funeral planning.

The next benefit is the simplified application and underwriting process. You simply need to complete a short one-page application with a few questions pertaining to your health history.

You do not need to complete a medical exam, but you need to answer the health questions truthfully. If you supply inaccurate or false information, your beneficiaries may not receive your death benefit.

Funeral Advantage also offers many additional riders, giving you a customizable policy to suit your specific needs. You can add up to $100,000 of accidental death coverage as well as up to $25,000 of life insurance coverage for your children.

What are the cons of choosing Funeral Advantage Life Insurance?

Along with the advantages, Funeral Advantage comes with a few disadvantages:

  • High premiums
  • Limited coverage
  • Restrictions
  • Limited coverage options

The average cost of this insurance program for those determined to be in good health and under the age of 50 is just $15 per month for a $5,000 death benefit.

As a whole life insurance policy, the policy accumulates a cash value. However, if you require more coverage or if you’re older than 50, you can expect to pay high premiums.

The premiums become even higher if you do not qualify for immediate coverage. The modified plan increases the premiums significantly and adds a two-year waiting period on the death benefit.

The average maximum coverage amounts for final expense insurance ranges from $25,000 to $50,000. Lincoln Heritage only offers coverage of up to $20,000.

There are restrictions that may disqualify some individuals from receiving coverage. If you have tested positive for HIV or AIDs, Lincoln Heritage will deny your application. Other limits include terminal illnesses, hospice care, and incarceration.

In situations such as these, you will need to look outside of Lincoln Heritage and consider a company that can provide you with a guaranteed issue life insurance policy. But keep in mind, a guaranteed issue policy also has a two-year graded death benefit and can be quite pricey.

The limited coverage combined with the higher premiums for those with health issues may outweigh the advantages of this program for some.

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What are your alternative final expenses insurance options?

Lincoln Heritage only offers this insurance through captive agents, meaning that the agents cannot represent other life insurance companies. If you want to compare rates from multiple insurers, you need to do the research or work with an independent agent that can offer you multiple options and companies.

Some of the best companies for final expense insurance policies that Top Quote Life Insurance works with include:

2021 Top Final Expense Companies

Compare Final Expense Rates

Click the instant quote button to compare rates from the leading final expense life insurance companies.

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Before choosing an insurance option, consider the factors that influence the premiums and amount of coverage you require. These factors include your age, current health, and existing debts.

Is the Funeral Advantage program right for you?

Top Quote Life Insurance operates on trustworthiness and honesty. We are not able to offer our clients Funeral Advantage life insurance coverage. With that said, we will not bash the company to sway your decision to work with us for your life insurance needs.

Lincoln Heritage does offer a very good final expense life insurance option with its Funeral Advantage coverage.

As with most insurance policies, Lincoln Heritage’s Funeral Advantage comes with several advantages as well as disadvantages.

The benefits of the program include a simplified application process, access to funeral planning services, and a selection of additional riders and add-ons.

Disadvantages that need to be considered is the limited death benefit of just $20,000 when most companies will allow for up to $50,000.

The second-largest disadvantage is the higher than average rates.

The majority of Lincoln Heritage reviews found online will show a common statement that the rates for their coverage, when compared to other similar options, are very high especially under the modified benefit plan.

Unless you qualify for immediate coverage, you can expect to pay more with Funeral Advantage. Additionally, those over the age of 50 are more likely to find less expensive coverage from some of the alternative company options listed above.

In the end, if you require fast approval and have no health issues that may qualify you for the level benefit plan, Funeral Advantage may meet your needs. However, we ask that you compare quotes before selecting a policy.

Ask questions and don’t be in a rush to purchase their coverage before doing a little bit of research. There is an excellent chance that you can pay a lot less for better coverage.

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