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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Written by Jeffrey Manola
Founder & Licensed Agent Jeffrey Manola

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 Leslie Kasperowicz

UPDATED: Jun 30, 2022

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Facts You Should Know

  • Lincoln Heritage Funeral Advantage provides a cash payout after the death of the policyholder
  • The company has been in business since 1963 and has strong positive reviews
  • Surviving family members gain access to a 24/7 support hotline 

Lincoln Heritage Funeral Advantage offers specialty insurance that pays out a death benefit when the policyholder passes. This benefit can be up to $20,000 which assists your family with your final expenses. 

The Funeral Advantage program can be a great option for those in good health that can qualify for their normal coverage plan. The monthly premium is affordable for most people, including those on a fixed income. 

If you do have health issues, you can still qualify for coverage, but the premiums do increase and the payout is not as large. 

In this review, you will learn about the beginnings of Lincoln Heritage Life Insurance Company, the products it offers, the company’s financial strength, and its in-depth customer reviews. 

About Lincoln Heritage Life Insurance Company

Lincoln Heritage has been in operation since 1963 and is headquartered in Phoenix, Arizona. It is a family-owned and operated business that was founded by Jack Londen. 

Jack wanted to change the final expense industry by speeding up the process of paying claims to families as quickly as possible. He founded the life insurance company with his wife and operated it out of their home for several years. 

With the help of his son, Tom, the father-son team was able to acquire 25 life insurance companies and pay out approved claims within 24 hours. 

Sadly, Tom passed away in 2013, and his father passed away just one year later. 

Their strong work ethic and values have been passed on to other family members who stepped into the vacant leadership roles that Jack and Tom left behind. 

Currently, Lincoln Heritage handles over 1 million policies and operates in 49 states, making them the leading final expenses life insurance company in the U.S. 

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What is the Funeral Advantage program?

Lincoln Heritage specializes in final expense insurance coverage that pays out a cash benefit to your loved ones when you pass away. The cash benefit is available for up to $20,000 which should cover the expense of funeral and burial costs. 

What makes Lincoln Heritage special is that these cash benefits are paid within 24 hours of claim approval. This quick payout makes it possible for families to not have to pay out-of-pocket expenses and helps them fulfill their final wishes.

Qualifying for Lincoln Heritage Funeral Advantage

Most people qualify for the Funeral Advantage programs. There is no medical exam, and those with health issues can get coverage. 

There are a few reasons why you will not qualify for a policy. These reasons are:

  • Diagnosed as HIV positive or AIDS
  • Currently hospitalized
  • Bedridden
  • Receiving hospice care

Lincoln Heritage offers modified coverage to those that have health issues. Modified coverage is more expensive than standard coverage and usually pays out less. 

You will be placed on a modified coverage policy if you have any of these conditions:

  • Cancer
  • Heart disease
  • Coronary artery disease
  • Alzheimer’s or dementia
  • Complications due to diabetes
  • Liver, lung, or kidney disease

Most customers should be able to obtain a regular or modified policy with Lincoln Heritage. 

How much does Funeral Advantage cost? 

Lincoln Heritage Funeral Advantage prices start at around $30 per month for a 50-year-old and increase to $145 per month for a person that is 80 years old. However, the benefit amount and rate are locked in for the life of the policy as long as there are no lapses. 

Lincoln Heritage also offers accidental death and dismemberment coverage that provides up to $100,000 of additional cash payout. This benefit is only available if the policyholder dies in an accident, and the amount of payout depends on the type of accident that occurs. 

Funeral Consumer Guardian Society

Along with the cash payout, Lincoln Heritage also automatically enrolls you in their Funeral Consumer Guardian Society (FCGS) program. 

FCGS works to protect your final wishes and assists your family in finding the best funeral home and services at an affordable rate. The company is not affiliated with any religion, funeral home, or cemetery, so there is no pressure on your family when they have to make choices about your final arrangements. 

When you enroll in the Funeral Advantage FCGS program, you can fill out a final wishes form that is securely stored on file. When you pass on, your family is given a 24-hour service number that they can call for emotional support and assistance with final arrangements. 

The company then compares three funeral homes in your area and provides your family with the best rates and services available to them. 

Overall, the Lincoln Heritage FCGS program offers several ways to assist your family beyond just the cash benefit. 

Lincoln Heritage Funeral Advantage 2022: Financial Strength

Lincoln Heritage Life Insurance Company has received an “A-” rating from A.M. Best Rating Services, which is considered excellent. The company’s initial rating date was in June 1976. 

A.M. Best has found the company to have a stable outlook for the foreseeable future as Lincoln Heritage has been in profitable operations, has had direct premium growth, and manages to continually generate new leads on customers. 

However, the company does have a high debt burden which has impacted its rating and could lead to lower dividend payouts and more reliance on reinsurance companies. 

It is important to evaluate the financial strength of any insurance company before proceeding with taking out a policy, as its financial strength can be a significant factor in determining whether or not a company can pay out its claims to customers. 

Lincoln Heritage Funeral Advantage Reviews

Lincoln Heritage has accrued 585 reviews on Google Business with an average rating of 4.2 stars. This is a higher than average rating for a burial insurance company. 

Customers report that Lincoln Heritage sticks to the promise of its 24-hour approved claims payout. Reviews mention that claims are processed quickly and without hassles. 

Many customers have noted how professional the company’s representatives are, including their kindness and compassion during the claims process. 

The company staff is said to be highly trained to deal with family members that are grieving over the loss of their loved ones and helps them navigate the process of finding the right services for funerals and burials. 

Although most of the customer reviews are positive, there are a couple of negative remarks to consider. 

Some customers claim that they had to wait several weeks to receive the final expenses check, and others have said that they never received a check at all. Other reviewers noted that their premiums went up year over year, despite being promised that their premiums would never increase. 

Overall, the sentiment from reviewers is overwhelmingly positive for Lincoln Heritage. 

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Lincoln Heritage Funeral Advantage Plan: The Final Word

Lincoln Heritage has many years of experience in the final expenses insurance sector, and this experience shows in its high customer reviews and financial strength. 

The company is still being run by the original family, although the founder and son have both passed away. 

Lincoln Heritage specializes in final expenses insurance and does not offer standard life insurance policies. The company does have an accidental death and dismemberment coverage plan at a fairly affordable rate. 

Most consumers will qualify for a normal or modified funeral insurance policy unless the person is terminally ill or in hospice. 

Lincoln Heritage displays good financial strength with a positive outlook, according to A.M. Best Rating Services. The company should have no issue paying out claims to its customers. 

Customers report a mostly good experience with Lincoln Heritage, with a 4.2-star rating on Google Business. Most customers experience quick payouts and compassionate customer service, but some have struggled to receive a check in a timely manner. Some customers claim they have never received a check at all. 

Overall, Lincoln Heritage could take a large financial burden off the shoulders of your family with a final expense payout of up to $20,000. However, your premium could be quite expensive depending on your age.