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When it comes to final expense and burial insurance, Lincoln Heritage Life is a well-known insurance company in that segment of the industry.

Since there are many final expense and burial insurance plans available from many insurance companies, it’s important for consumers to do some research before they buy to get the best value for their dollar.

Since Lincoln Heritage sells life insurance through captured (company) agents, there’s not a lot of information available from independent agents who do not represent them.

In our opinion, independent agents should know about all life insurance companies who offer final expense insurance, even if they don’t represent them, because consumers see companies like Lincoln Heritage advertising on television on a regular basis. Here, we’ll discuss Lincoln Heritage and the products they have to offer.


A little about Lincoln Heritage Life


Although it’s typically not the case, consumers should consider the financial stability of a life insurance company over the monthly premium so they can know the company will be there to keep their promise when the worst thing happens.

Lincoln Heritage has continually maintained an “A-“  Excellent rating from A,M. Best rating service. Don’t let the “minus sign” mislead you, however, because this rating is actually very high.

As for customer service or claims, the company is rated A+ by the Better Business Bureau which means they don’t have a large number of complaints and most of the complaints they do have are resolved satisfactorily by the company.


The Problem with Captive Agents


Unlike most life insurance companies, Lincoln Heritage only uses “captured” agents to sell their life insurance products. A captured agent (also known as company agents) are not allowed to represent any other insurance companies and therefore only sell the products available from that company.

Buying life insurance from a captured agent puts the consumer at a disadvantage because the agent cannot offer other products you might need and the consumer must fit within the companies underwriting guidelines without exception. This means if you cannot qualify for Lincoln Heritage life insurance, you’ll need to go elsewhere.

Another issue is captive agents want to conduct business face-to-face which consumers prefer not to do. In today’s economy, most consumers prefer not to have a stranger in their house to discuss very private matters like life insurance. Today’s consumers prefer to do business online or over the phone.


The Lincoln Heritage Funeral Advantage Plan


Lincoln Heritage refers to their final expense and burial insurance as Funeral Advantage because the plan combines final expense life insurance with a membership in the Funeral Consumer Guardian Society. When a Lincoln Heritage policyholder passes away, a representative of the Funeral Consumer Guardian Society (FCGS) will make contact the beneficiary on the policy to assist family members in dealing with funeral arrangements.

The final expense (burial insurance) insurance offered by Lincoln Heritage is whole life insurance and contains all the guarantees and benefits of traditional whole life insurance like guaranteed lifetime coverage, level premiums that cannot be increased by the company, and a cash value account that builds over the life of the policy.

Here are the highlights of Lincoln Heritage Funeral Advantage Life Insurance:

  • Guarantees and benefits of whole life insurance
  • A simple issued policy which means there are no medical exam requirement
  • Fast and easy application process with quick issue that allows the applicant to get coverage fast
  • Funeral planning assistance from the Funeral Consumer Guardian Society


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How Lincoln Heritage Compares with Other Insurers


Although we mentioned earlier that a life insurance company’s financial stability is most important, for those of you who are curious about how Lincoln Heritage compares to other insurance companies who offer final expense insurance, we have listed actual rates below.

$10,000 Life insurance quotes for a Male Non-Smoker in average health:

Age of Applicant

Lincoln Heritage

Mutual of Omaha























$200.90 $183.15


As you can see from the chart above, Mutual of Omaha rates are quite a bit lower than Lincoln Heritage across all ages. The question to consider is whether you want to fork over about $155 each year for the rest of your life to get assistance from the Funeral Consumer Guardian Society.

$10,000 Life insurance rates for a Female Non-Smoker in average health:

Age of Applicant

Lincoln Heritage

Americo Life


























Once again, the comparison between Americo Life and Lincoln Heritage shows that the Funeral Advantage is not the bargain most people are looking for. And remember, many seniors are on fixed incomes so saving $5 or $10 a month on life insurance can be a big deal, especially if you consider the savings over 10 or 15 years.


Medically Qualifying for Lincoln Heritage Funeral Advantage


Although Lincoln Heritage has fairly liberal underwriting guidelines, they do not appear to be as liberal as their national competitors like Mutual of Omaha or Americo Life. This means that you could be forced into a Modified Benefit plan which is priced a lot higher than the level benefit plan and includes waiting periods of two or three years depending on your age and the state where you reside.


The Bottom Life for Lincoln Heritage Life


When we review Lincoln Heritage life insurance products they appear to check all the right boxes until you drill down into their pricing compared with other national carriers. Even though each policyholder gets free assistance from Funeral Consumer Guardian Society, in our opinion their rates simply won’t justify the additional cost of this service when you consider how much money you can save over time using another highly-rated final expense insurance company.


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For more information about Funeral and Burial Insurance and to get a free and confidential quote, call the insurance experts at BurialPolicy360 at (800) 712-8519 during normal business hours, or contact us through our website at your earliest convenience.

Doug Mitchell Ogletree FinancialDoug Mitchell, President of Ogletree Financial, holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent over 20 years in the life insurance industry and has also held licenses to sell securities, long-term care insurance, and home and auto insurance. For two years, Doug served as President of the Auburn Opelika Association of Financial Advisors and has been a member of the Million Dollar Round Table. He obtained Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award. Later in his career with New York Life, he was an Executive Council Member. Doug currently serves as President of Ogletree Financial, a life insurance marketing organization with over 1000 life insurance agents. Today, Doug’s main focus is servicing 1000s of policyholders and growing his agency through the reach of several insurance-related websites.