Lincoln Heritage Life Insurance Review – Should You Buy Funeral Advantage?

Written by Kim Wilhelm

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Last Updated 14 Jun 2024

Lincoln Heritage Insurance Company has been offering life insurance for seniors since 1963. In fact, it offers just one type of senior life insurance: final expense insurance. 

Final Expense Direct partners with final expense life insurance companies, but not Lincoln Heritage Insurance Company. Find out more about Lincoln Heritage’s Funeral Advantage policy and why we think there are better options available for seniors.

Lincoln Heritage Final Expense Insurance

The Lincoln Heritage final expense insurance policy is available to seniors between the ages of 50 and 80. Like other final expense insurance plans, the Lincoln Heritage Funeral Advantage plan doesn’t require a medical exam to be approved.

The application is just one page, which is simple enough to fill out. And you don’t even have to do it yourself. You can fill out a quote request form on Lincoln Heritage’s website and have an agent contact you with a price. They’ll even fill out the application over the phone with you.

Sounds a lot like how we work with seniors here at Final Expense Direct. The biggest difference is we have an entire network of final expense companies offering coverage at various price points. Lincoln Heritage only has the Funeral Advantage policy option.

Lincoln Heritage Burial Insurance

If you’re considering the Lincoln Heritage burial insurance policy, you should know that coverage only goes up to $20,000

While that might be enough coverage for some seniors to pay for their burial and other funeral expenses, and any other end-of-life costs, it might not be sufficient for seniors with greater life insurance needs.

Most of the carriers we work with offer at least $35,000 to $40,000 in final expense burial insurance. If you need more than that, The Baltimore Life Companies offer up to $150,000 in final expense insurance, the most we’ve seen for senior burial life insurance.

Lincoln Heritage Life Insurance for Seniors

Although the Lincoln Heritage life insurance for seniors policy doesn’t require a medical exam, you still have to qualify for coverage by answering health questions on the application.

The company website says you won’t automatically be denied if you answer yes to any of the following questions:

  • Do you have

  • Have you been treated for alcohol or drug abuse?

  • Are you currently in

    • A care facility

    • Hospitalized

    • Bedridden

    • On hospice care

  • Have you been treated for or taken medication for any of the above conditions in the last 24 months?

If you can answer no to all these questions, you’ll probably be approved at the rate they quoted.  

If you answer yes to any, there’s a chance you’ll be offered a modified death benefit, which means your beneficiary will only receive the premiums you paid plus interest if you die in the first two years of the policy date.

If you’re bedridden, on hospice care, hospitalized, or tested positive for HIV/AIDS, you’ll probably be denied for the Lincoln Heritage Funeral Advantage program.

No matter what your health status, Final Expense Direct can get you approved for life insurance. Call us to speak with one of our knowledgeable agents who can help you find the best plan for your age, health status, budget, and coverage needs.

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Lincoln Heritage Funeral Insurance

The Lincoln Heritage Funeral Advantage funeral insurance program might have some perks that could interest you. They offer free family support services through the Funeral Consumer Guardian Society. When the Good Lord calls you home, an FCGS representative will help your family cope with your loss and even get quotes for funeral services

But if you have a particular funeral home you want to work with, or already have a funeral plan in place, this service might be unnecessary. And while it’s a nice perk, it’s built into the price of your funeral insurance policy, which you could get cheaper somewhere else.

Lincoln Heritage also has one rider you can add to your policy — if you’re willing to pay for it. You can add up to $100,000 in accidental death insurance. If you die an accidental death, your beneficiary will receive the funeral insurance death benefit plus the rider amount you choose. If you die any other way, they won’t receive the accidental death rider amount, just the policy death benefit.

When you buy funeral insurance, compare the perks and benefits of each company to find one that meets your personal needs. When you work with Final Expense Direct, our agents can explain the different incentives offered by each company to help you find the one that works best for you.

Lincoln Heritage Life Insurance Costs

Price is a big concern for seniors buying life insurance. So how much does Lincoln Heritage life insurance cost? Let’s compare the costs and incentives of Lincoln Heritage to two other companies in our network.

Most senior life insurance companies rate policies differently for men and women, with women paying cheaper prices than men. We compared rates for 50, 60, and 70-year-old men and women from Lincoln Heritage, Mutual of Omaha, and Liberty Bankers Life. 

These sample rates are for nonsmokers in good health, quoting a $10,000 final expense life insurance policy

50 male

50 female

60 male

60 female

70 male

70 female

Liberty Bankers Life







Lincoln Heritage







Mutual of Omaha







As you can see, the rates for Mutual of Omaha and Lincoln Heritage are identical, except Mutual of Omaha is $1 cheaper for a male aged 50. Liberty Bankers Life rates are slightly higher, though it beats both carriers for a 70-year-old male. 

Comparing Policy Details, Perks, and Incentives

Now, let’s look at details, perks, and incentives. 

Liberty Bankers Life offers final expense life insurance to all adults from age 18 to 80. Mutual of Omaha offers their final expense plan as young as 45. If you’re younger than 50, you won’t qualify for Lincoln Heritage’s Funeral Advantage plan.

Though Liberty Bankers Life and Mutual of Omaha don’t offer an accidental death rider, they do have other benefits. 

Liberty Bankers Life has some of the best child and grandchild life insurance rider coverage rates around. You can easily get a family life insurance policy for just a few dollars more with them. 

Mutual of Omaha offers a free accelerated death benefit for terminal illness or nursing home confinement. If you’re diagnosed with a terminal illness or placed in a nursing home, you can access some of your death benefit to pay for costs of care or anything else you want, like expenses to have the kids or grandkids come visit you.

If you need more than $20,000 in funeral insurance, Liberty Bankers offers up to $30,000 and Mutual of Omaha, up to $40,000. 

Can you see now why it’s important to look beyond price if you want to get the most bang for your buck? If you want to get the most out of your final expense policy, let Final Expense Direct help. Our agents are ready to assist you in finding the best burial insurance plan that fits your and your family’s needs.

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Pros & Cons of Lincoln Heritage Life Insurance

Before you choose a life insurance company, you should consider the pros and cons of working with that company. Here are the pros and cons of Lincoln Heritage life insurance final expense coverage.

Pros of Lincoln Heritage Life Insurance

  • Fast claims payout: It can be frustrating to have to wait weeks to get a life insurance payout, especially if you need the funds to pay for funeral expenses. Lincoln Heritage typically pays out claims fast, sometimes within 24 hours of the claim being approved. The key here is once a claim is approved, not once the insured passes away. While we list this as a pro, be aware that a claim can take weeks or longer to be approved, so having the right documentation ready when filing the claim is crucial for a speedy claims process.
  • Free family support services: When you buy Lincoln Heritage Funeral Advantage final expense life insurance, you get a free membership with the Funeral Consumer Guardian Society. FCGS can help your family and beneficiary navigate your funeral, help them understand the process, and price shop for funeral costs. FCGS will also work with you to make sure your final wishes are documented.
  • Strong financial strength rating: A life insurance company’s financial strength rating shows how well it handles its monetary obligations, including paying life insurance claims. Lincoln Heritage has an A- rating with AM Best, which is an excellent rating. It shows the company has a good track record of meeting its financial obligations, which is an important factor to consider when choosing an insurance company.
  • No medical exam required: Like most final expense companies, Lincoln Heritage doesn’t require a medical exam for coverage. Without a medical exam requirement, more seniors can get the coverage they need in place before the Good Lord calls them home.

Cons of Lincoln Heritage Life Insurance

  • Not everyone qualifies: It can be hard to qualify for Lincoln Heritage final expense life insurance if you have any health issues. Fortunately, Final Expense Direct partners with companies who do, so if you don’t think you’ll qualify with Lincoln Heritage, call us today to get a quote.
  • You may have a waiting period: If you answer yes to a health question on the application, chances are your death benefit will include a waiting period. If you die in the first two years of the policy being effective, your beneficiary will only get the premiums back, plus interest, instead of the full death benefit.
  • There’s only one option: The only option you have from Lincoln Heritage is its Funeral Advantage policy. If you don’t qualify for it, then you can’t get coverage. That’s why it’s a great idea to work with a broker, like Final Expense Direct. We work with many companies, so we can get you covered, no matter your health status or budget.
  • Rates can be expensive: Although Lincoln Heritage isn’t the most expensive, it’s also not the cheapest. And if you only qualify for a modified death benefit through Lincoln Heritage, your rates will probably be higher than with other companies. 
  • Low coverage amount: Lincoln Heritage caps its burial insurance coverage at $20,000. While this works for some seniors, others need more. Luckily, we work with several companies that offer more coverage, like The Baltimore Life Companies, who offer up to $150,000 in final expense insurance.

Lincoln Heritage Policies & Add-Ons

Although Lincoln Heritage only has one life insurance policy, you can add on an accidental death rider. The accidental death and dismemberment (AD&D) rider will pay up to $100,000 more to your beneficiary if you die an accidental death. While it might not cost much, your chances of dying in an accident as a senior are far less than any other way to die, so this rider probably isn’t worth it.


Lincoln Heritage Insurance Company offers the Funeral Advantage program, a final expense life insurance policy for seniors up to age 80. You can buy up to $20,000 in Funeral Advantage life insurance coverage, which might not be enough to meet your needs. You have to answer health questions to get approved for Funeral Advantage, and pay for the only rider they offer, accidental death insurance. Though some might find Lincoln Heritage is the right fit, you’ll probably get a better deal elsewhere. Contact Final Expense Direct today to get a quote from some of the top rated final expense companies in the country.


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