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Lincoln Heritage life insurance review 2023

Updated Mar 09, 2023
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Bottom Line

Lincoln Heritage may be a good choice for consumers looking for a final expense life insurance policy, as this is the only type of coverage the carrier sells. However, Lincoln Heritage doesn’t offer many online tools and has no local agents to work with policyholders.

  • No medical exams are required

  • Claims are usually paid out quickly

  • Family support services are offered for free

  • Does not offer term or whole life policies

  • Low coverage limits

  • No local agents

Lincoln Heritage life insurance

Lincoln Heritage is a smaller, family-owned life insurance company that exclusively sells final expense insurance. Its Funeral Advantage offering is the largest final expense insurance program in the United States. Lincoln Heritage, founded in 1963, has sold final expense life insurance policies for nearly 60 years. The company does not sell traditional individual life insurance policies, like term life or whole life policies, but it does sell its Funeral Advantage final expense product in every state except New York.

If you are in the market for final expense insurance, Lincoln Heritage life insurance may be worth considering. However, this provider does not sell traditional term life insurance or whole life insurance policies. The coverage limits are fairly low and the company does not list any riders on its website. Here is a closer look at what you get with Lincoln Heritage’s signature Funeral Advantage program:

  • Final expense insurance: Final expense insurance is designed to cover funeral expenses, including cremation services, burials and final medical bills. This policy may be considered by older adults who need guaranteed coverage. The Lincoln Heritage Funeral Advantage program includes up to $20,000 in coverage. There is no medical exam required. The company’s policy has a cash benefit and boasts a 24-hour claim payout for approved claims, plus level premiums for the duration of the policy. You can also purchase accidental death benefit coverage up to $100,000.
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Lincoln Heritage life insurance endorsements

Lincoln Health does not indicate if there are any additional endorsements that can be added to the policy.

Lincoln Heritage life tools and benefits

When you purchase a policy from Lincoln Heritage, you’ll automatically be eligible for support from the Funeral Consumer Guardian Society (FCGS). When a policyholder passes away, the FCGS can help the beneficiary and other loved ones handle the tasks. The FCGS will compare up to three different funeral homes to help you find a good price, provide checklists of things that need to be done and offer emotional support during a difficult time. Additionally, Lincoln Heritage offers several online resources related to life insurance, including guides to various kinds of funeral arrangements.

Lincoln Heritage customer satisfaction

Lincoln Heritage did not rank in J.D. Power’s 2022 U.S. Individual Life Insurance Study, but it did receive a score in the National Association of Insurance Commissioners’ (NAIC) Company Complaint Index. This metric tracks complaints a carrier receives and compares it to the market average. Lincoln Heritage received a score of 1.02, indicating that it receives about the expected amount of complaints for a company of its size.

How to file a claim with Lincoln Heritage

Beneficiaries of a Lincoln Heritage claim have a variety of ways to file a claim. It can be done over the phone by calling 1-855-706-2396, emailing, faxing 1-602-808-8845 or mailing Lincoln Heritage Life Insurance Company, PO Box 29045, Phoenix, AZ 85038. Beneficiaries will need to provide the name of the deceased, the policy number and date of death when filing the claim, but other information and forms may also be requested.

Lincoln Heritage availability

Lincoln Heritage is available in all states except New York.

Other Lincoln Heritage perks worth considering

While most life insurance companies offer multiple policies, Lincoln Heritage only offers final expense insurance, a form of guaranteed life insurance. It is also called funeral insurance or burial insurance. You cannot purchase any other type of life insurance or property insurance from this provider. All final expense policies are underwritten by Lincoln Heritage Life Insurance Company.

Lincoln Heritage corporate sustainability

Lincoln Heritage does not indicate on its website if it has any corporate sustainability initiatives.

Because Lincoln Heritage only offers one type of life insurance product, it may not be the right carrier for everyone. Whether you’re looking for the cheapest life insurance, different riders or all other policy types, these life insurance companies may be good alternatives:

Lincoln Heritage vs. New York Life

You may want a provider that offers more benefits than Lincoln Heritage, and New York Life delivers. In addition to a range of life insurance offerings, the company has estate planning and wealth management services.

Learn more: New York Life Insurance review

Lincoln Heritage vs. Gerber Life

If you’re looking for a range of insurance products, including life insurance for children, Gerber Life may be a good option. The company offers term, whole and guaranteed life, as well as a few products geared specifically toward children and young adults.

Learn more: Gerber Life Insurance review

Lincoln Heritage vs. State Farm

If you’re sure you want a final expense plan, State Farm may be a fitting alternative to Lincoln Heritage. However, while the company does have a network of local agents that may appeal to some customers, its final expense insurance only goes up to a $10,000 death benefit.

Learn more: State Farm Insurance review

Is Lincoln Heritage a good insurance company?

With over ten years of experience in the life insurance industry, Bankrate’s insurance editorial team can help you determine with our Lincoln Heritage insurance review if this life insurance company could be right for your needs.

If you’re only looking for final expense insurance and no other types of life insurance policies, Lincoln Heritage may be worth further evaluation and a life insurance quote. Its Funeral Advantage final expense product is sold in every state except New York. The policy does not require medical exams, which could affect your life insurance cost. Once approved, Lincoln Heritage advertises that claims can be paid out in 24 hours. If you’re only looking to cover funeral expenses, Lincoln Heritage may be worth looking into. For other life insurance needs, consider starting with Bankrate’s life insurance calculator to see what options may be best for you.

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