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: Apr 1, 2022

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Facts You Should Know

  • Funeral Advantage is a type of permanent life insurance policy that covers end-of-life expenses
  • Age, gender, occupational habits, and more affect your Funeral Advantage rates
  • Lincoln Heritage is the only company that sells Funeral Advantage, but many companies sell burial and final expense insurance

Life brings unexpected financial situations that can leave your loved ones responsible if you are not prepared. Investing in a life insurance policy protects your loved ones from bearing the entire burden of end-of-life expenses if something happens to you.

If you are currently researching life insurance companies for a final expense life insurance policy, you have likely run into Lincoln Heritage’s Funeral Advantage Program. Funeral Advantage is a whole life insurance policy covering specific funeral and end-of-life costs.

Keep reading to learn more about Funeral Advantage, including what it is, how it works, Funeral Advantage reviews and rates, and how it differs from other popular life insurance policies, like term life insurance.

Before jumping into our Funeral Advantage review, enter your ZIP code to get free life insurance quotes from companies near you today.

What is Funeral Advantage?

Also referred to as final expense insurance, the Funeral Advantage program assists seniors by providing coverage for some funeral and burial expenses. Typically, Funeral Advantage programs grow cash value over time and cover up to $20,000 of end-of-life costs.

As the only life insurance policy offered by Lincoln Heritage Life Insurance Company, Funeral Advantage is currently the top final expense program in the United States. Funeral Advantage is created to help families with the inflated funeral and cremation costs with its cash benefit.

Because Lincoln Heritage prioritizes customer service, Funeral Advantage is easily accessible to those that need it. The process to apply for the Lincoln Heritage Funeral Advantage Program is simple and does not usually require a medical exam. Although a medical exam is not usually needed, you can expect to be asked some health-related questions.

Based on your response to the few health-related questions Lincoln Heritage asks, you can either qualify for immediate Funeral Advantage coverage or be put on a waiting list. Once you are eligible for immediate coverage, you have complete guaranteed death benefit protection on the first day the policy is issued. However, the company will have to underwrite this coverage.

A waiting period is standard among final expense policies with limited underwriting. Final expense life insurance companies enforce a waiting period for not paying a death benefit to a customer who passes shortly after buying a policy.

It is important to note that every customer that purchases a Funeral Advantage Program policy through Lincoln Heritage also gains a Funeral Consumer Guardian Society membership. With a Funeral Consumer Guardian Society membership, your family gets assistance with planning the funeral based on your preferences.

Before you decide to buy a Lincoln Heritage Funeral Advantage plan, make sure to research the program thoroughly and talk with an agent about your options. With any plan, be sure to fully explore your personalization options, particularly for funeral arrangements, to better assist your loved ones in the event of your passing.

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How much does Funeral Advantage cost?

Lincoln Heritage promotes having affordable Funeral Advantage premiums for their customers. Funeral Advantage rates are especially inexpensive for those who qualify for immediate coverage and for those who are middle-aged or healthy.

Unfortunately, we could not locate Funeral Advantage quotes online, but there are plenty of other life insurance companies that sell final expense insurance and do have quotes available. Some of the top life insurance companies that sell burial and final expense insurance are:

  • Royal Neighbors of America
  • Liberty Bankers Life
  • American Amicable
  • Foresters Financial
  • Mutual of Omaha
  • Prosperity Life
  • Baltimore Life
  • Transamerica
  • Gerber Life
  • Americo
  • Aetna
  • AIG

Before deciding on a policy, be sure to research your burial and final expense insurance company of interest. You may find that the coverage is not exactly what you need or that there is a better company out there for you.

As a starting point, check out our AIG American General Life Insurance Review for more specific information about the company, including policies, customer reviews, and more.

Because we could not find Funeral Advantage insurance rates online, the following table includes burial and final expense insurance rates from the top insurance companies listed above.

Burial and Final Expense Insurance Rates for Non-Smoking Men & Women ($15,000 Coverage)
Final Expense Life Insurance CompanyMale (50yo)Female (50yo)
American Amicable$44.88$37.62
Americo Financial Life & Annuity$46.19$34.94
Baltimore Life$47.25$39.15
Foresters Financial$46.42$37.50
Gerber Life$65.68$51.24
Liberty Bankers$43.45$36.04
Mutual of Omaha$42.13$35.40
Prosperity Life$49.97$41.93
Royal Neighbors of America$58.18$49.20
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As you know, with any insurance policy and company, a few things affect your life insurance rates. Some of the factors that insurance companies will take into account when giving you a burial and final expense life insurance quote include:

  • Gender
  • Age
  • Overall health
  • Occupational risks
  • Dangerous hobbies
  • Smoking or drinking habits

Typically, the quickest and most efficient way to find the cheapest burial and final expense life insurance rates is to compare quotes from multiple life insurance companies. Comparing a few different quotes gives you a better idea of what to expect to pay for life insurance and helps you get the most out of your policy.

Are there any restrictions to Funeral Advantage?

Because Funeral Advantage is popular for being easily accessible, not many factors keep you from qualifying for the Funeral Advantage program. Some of the situations that could disqualify you from the Funeral Advantage Program include:

  • HIV diagnosis
  • AIDS diagnosis
  • Terminal illness
  • Going to jail
  • Hospitalization
  • Needing hospice care

If you are unsure whether Funeral Advantage is the suitable burial and final expense insurance for you, research multiple companies. Comparing a few companies helps give you a good understanding of the types of policies that will work for you and enables you to find lower rates.

What are Funeral Advantage reviews?

As you research different life insurance companies, looking at reputable ratings and reviews websites is essential. Reviews and ratings provide invaluable information about companies that you can use to make your choice.

Lincoln Heritage has fair financial ratings as a burial and final expense life insurance company. On A.M. Best, a top financial rating organization, Lincoln Heritage has a score of A- (Excellent). A high A.M. Best score signifies a solid financial standing, meaning the company is more likely to have your back financially if you need it.

Similarly, Lincoln Heritage’s complaint score on the NAIC Complaint Index is the same as the national median, meaning that the expected amount of customers made complaints for a company of its size.

Looking at customer Funeral Advantage program reviews and ratings is a valuable part of the life insurance research process. You can use the information you gather from looking at reviews and ratings to make your Funeral Advantage shopping experience even more accessible.

Although Lincoln Heritage’s in-house customer service team is fantastic, its agents have been reviewed as “aggressive and pushy” with potential customers. Therefore, ensure you know your burial and final expense insurance policy well before going into any meetings with a Lincoln Heritage agent.

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Funeral Advantage Reviews: The Bottom Line

Burial and final expense insurance, or Funeral Advantage, is an excellent investment for those that need it. A burial and final expense insurance policy protects your loved ones from bearing the responsibility of end-of-life costs after you pass away.

Lincoln Heritage’s Funeral Advantage Program is an affordable version of a permanent life insurance policy that features cash value. Funeral Advantage Program policyholders can pull from the cash value aspect of their policy as they would be able to with another permanent policy.

Premiums are fixed for the entirety of the policyholder’s life with Funeral Advantage, and their family gets paid a guaranteed death benefit to help even more with funeral costs.

If you choose to invest in a Funeral Advantage program, consider the customer reviews and ratings, potential premiums, pros, cons, and more.

It is also helpful to compare at least three life insurance companies and policies before choosing one. Comparing multiple companies and policies helps ensure you are getting the best out of your Funeral Advantage or other burial and final expense life insurance policy.

Now that you have read our Funeral Advantage Review, enter your ZIP code into our free online tool for instant life insurance rates from companies near you.