Lincoln Heritage Funeral Advantage Review The Truth

lincoln heritage funeral advantage

This is going to be a review of Lincoln Heritage Life Insurance Company and their Lincoln Heritage Funeral Advantage plan. This is going to be an in-depth look at what they offer.

That being said we will not pull any punches when it comes to this review. We are passionate about our clients finding the best burial insurance plans with the most trustworthy companies.

Unfortunately, we do not consider Lincoln Heritage Funeral Advantage to be one of those plans.

In this article, we will go over all of the factors that make Lincoln Heritage a bad option for burial insurance so you can make a properly informed decision for yourself to protect your loved ones from the burden of your funeral costs.

The two biggest factors with Lincoln Heritage Funeral Advantage are:

  1. It is 20 – 300% more expensive than burial insurance with other companies.
  2. Their Funeral Consumer Guardian Society is a complete sales gimmick to justify you having to pay such a high premium.

We will go over how the program works, how the gimmicks work, the pricing compared to other companies, and much more.

Quick Tip: To see pricing on much cheaper burial insurance and speak with one of our agents fill out the form to your right.

Lincoln Heritage Funeral Advantage Review Video

What is Lincoln Heritage Funeral Advantage?

First and foremost, Lincoln Heritage is what we would call a “household name” in the United States. Their Funeral Advantage product is final expense whole life with an FCGS membership.

That being said reputation doesn’t mean that what they offer is the best deal to protect your family members. In fact, we would rate them just as low as we have rated AAA, Colonial Penn, and Globe.

You might be asking, “is there any advantage to having this plan?”

The answer is a flat-out no absolutely not.

There is no reason for anyone to have to pay 20 – 300% more for burial insurance compared to other companies.

When it comes to lincoln heritage life insurance reviews the core of their products is the funeral advantage program reviews. A company is only as good as the insurance products they stand behind. This is why you need to be wary when just looking for cheap life insurance quotes and really make sure you are getting the right policy.

For example, you should research Lincoln Heritage funeral advantage program aids seniors reviews this will give you a good idea about their complaint index. Again Lincoln Heritage reviews across the board are not very positive and for good reason. So in short, Lincoln Heritage insurance reviews are dictated mainly by this particular product.

This is why funeral advantage insurance reviews feature so many lincoln heritage funeral advantage complaints from their customers. Now everyone gets complaints one way or another but as we will continue to show in this review Lincoln Heritage is not very ideal coverage.

Furthermore, their underwriting is not liberal compared to other burial insurance companies. Depending on certain health issues you may have, you could get stuck not only paying an outrageous premium but also a 2 year waiting period for benefits.

Here’s the thing, we help 90% of our clients get approved for day one affordable coverage even with severe health conditions like COPD, CHF, Diabetes, etc. in most cases. So why on God’s green earth would you want a policy 300% more expensive with a waiting period if it can be avoided?

FCGS Membership Justify High Lincoln Heritage Prices?

This is an obvious “NO” but this is how they justify their overpriced policies. The Lincoln Heritage agents that represent the product will try and sell you on the value of the FCGS which stands for Funeral Consumer Guardian Society.

The truth is there is nothing the FCGS does that you cant do by yourself with your local funeral homes for free. In fact, all you have to do is go to Google and lookup a “final wishes guide”.

We will leave one linked here for you.

All it really is is a way of documenting how you would want your funeral to be planned out so when your family receives the death benefit they will know exactly what kind of funeral you wanted.

So naturally, it is a good thing to have everything pre-recorded and prepared so all your family would have to do is use the benefit from the insurance coverage to pay for each funeral arrangement you have listed.

Everything from the:

  • Flowers and colors of them
  • Memorial Service
  • Casket
  • Urn (if cremation)
  • Any types of pictures displayed
  • Music being played during service

It functions like a will that you leave to your family simply outlining how you would like everything to be done to honor your memory. The thing is like we said you can do this for free without having to pay extra on your premium with Lincoln Heritage.

This is why when it comes to Lincoln Heritage Funeral Advantage life insurance reviews this FCGS is a big highlight among gimmicks. This is because as experts we know that the FCGS is not worth the money a consumer is charged for their life insurance when the service is completely free elsewhere.

Lincoln Heritage Funeral Advantage Underwriting

The underwriting for their plans is extremely strict. So not only do healthy applicants pay higher premiums but applicants that wind up qualifying for modified plans pay an even higher premium.

If you qualify for a modified policy then you have a waiting period guaranteed. They may not want you to do a medical exam but how they look at your prescriptions tells a lot about their strict underwriting.

Modified Plan

For clients under the age of 50:

  • Year 1 is Return of Premiums Paid plus 10%
  • Year 2 is Return of Premiums Paid plus 20%
  • Year 3 is Return of Premiums Paid plus 30%

For clients over the age of 50:

  • Year 1 is Return of Premiums Paid plus 10%
  • Year 2 is Return of Premiums Paid plus 20%

As we list these keep in mind that these blood thinners tied to these conditions are accepted by our burial insurance carriers and will not require a higher premium from you or a waiting period for your benefits.

  • Stroke
  • Heart Attack
  • TIA Mini Stroke
  • Circulatory Surgery
  • Aneurysm
  • Blood Clotting
  • Irregular Heart Beat (Afib)
  • Peripheral Artery Disease
  • Pulmonary Hypertension
  • Heart Surgery

These are the conditions that can cause you to be on those types of medications. This is why Lincoln Heritage will issue you a modified plan with a waiting period while other companies that ask similar health questions may be able to get you approved for day one coverage.

This is where Lincoln Heritage Funeral Advantage becomes a disadvantage. You wind up overpaying and possibly getting stuck in a waiting period when you could possibly get day one coverage for a much cheaper policy.

Some other conditions that would get you put into their modified policy are:

If you manage to pass all of these health issues in their underwriting and get their level plan it will have all of the benefits of a normal burial insurance such as:

  • Level Premiums
  • Level Death Benefit
  • Policy Never Expires

However, this does not change the fact that you are paying 20 – 300% more on your premium than with more affordable and liberal underwriting carriers.

Now Lincoln Heritage does not have a height and weight chart for their policies which is beneficial, however, one of our top burial insurance carriers, Royal Neighbors of America does not as well and their rates are much more affordable.

Tobacco Rates

A tobacco rate is an increased premium due to tobacco usage for the insured and Lincoln Heritage will give you this rate regardless of the tobacco you use.

That can be any of the following:

  • Pipe Tobacco
  • Cigars
  • Chewing Tobacco
  • Vape or smokeless tobacco
  • Cigarettes

Here is another advantage to working with us, we have burial insurance companies that will not give you a higher premium for things like cigars, chew, vape, or pipes. The only exclusion is cigarettes they will always charge you a higher premium for cigarettes so the best thing you can do is quit cigarettes in those cases.

Burial Insurance to Avoid

What to AvoidReason
Term life InsurancePremiums increase after 5 years. Coverage ends after 80. Term Terminates
Pre-paid funeral plansExpensive & Do not Travel with you if Death Occurs outside of State
Universal life insuranceTied with stocks used more for Inevstments
No health questions Asked policiesWith 2-year waiting period & more Expensive
Plans offering "gimmick rates"$9.95 per unit plans or $1 buys $100,000 coverage
Over priced plansInsurance from TV and Spam mail with false advertising
Plans that accept mail-in paymentsHigh Risk of Payment Failure & Policy Lapse
Plans that accept Direct ExpressHigh Chance of Lapse due to missed Payment
Plans that accept Credit CardsHigh Chance of Lapse due to missed Payment

Best Type of Burial Insurance

Day One CoverageYES
Rates NEVER Go upYES
Policy Coverage NEVER DecreasesYES
Easy Underwriting & ApprovalYES
No Medical Exams RequiredYES
Same Day Instant ApprovalYES
Death Claims Pay QuicklyYES
Builds cash value over timeYES
Coverage Up To Age 85YES

Is Lincoln Heritage Funeral Advantage Legit

Their customer service, coverage, and financial ratings may be legit.

However, we do not consider them a great option for burial insurance considering the 20 carriers we work with. There is no reason for a consumer to pay 20 – 300% more for a premium compared to what all the other burial insurance companies that we work with offer.

To add insult to injury let’s examine the “24-hour claim payment”.

The advertising for their funeral advantage makes it seem like they pay claims within 24 hours of the death claim. But is this really true? According to their website, it is a little more detailed than that.

Their website and screenshots indicate that the exact phrase used is “24 hours of claim approval”.

This “claim approval” is far different than “within 24 hours of a death claim”. This is what you could refer to as the sleight of hand. Its a play on words that makes a client think one thing and does another.

With all of these gimmicks, we do not recommend Lincoln Heritage Funeral Advantage to anyone.

Lincoln Heritage Life Insurance Rates

As we have mentioned throughout this article Lincoln Heritage rates are overpriced.

Let’s do a comparison with Mutual of Omaha one of the best carriers that we work with.

A Lincoln Heritage policy for a 50-year-old female $10,000 of coverage would be $33.90 a month.

A Mutual of Omaha policy for a 50 year old female $10,000 of coverage would be $24.67 a month.

See the difference?

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