Founded in 1963, Lincoln Heritage has since grown to become one of the best final expense insurance (opens in new tab) providers in the U.S. Holding two core principles to heart - respect for its customers and workers, and a commitment to "personalized, prompt, and accurate service" - Lincoln Heritage now operates in 49 states.
With more than one million final expense policies in-force at a combined value of more than $8.7 billion, it has the strongest of backgrounds and ranks among the top 200 premium producing life companies in America. Lincoln Heritage focuses almost entirely on end-of-life protection, but offers life insurance (opens in new tab) for seniors and parents too.
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Lincoln Heritage review: What is on offer
The Funeral Advantage program available through Lincoln Heritage is a comprehensive final expense insurance option that comprises of two parts.
The first is the Final Expense Life Insurance Cash Benefit, a component that aims to cover end-of-life expenses, in the same way as burial insurance or funeral insurance. Heritage promises a one-page application and a handful of health questions, but no health examination will be necessary. Most people can expect to be successful in their application, even if they have pre-existing conditions.
The second part of Funeral Advantage is included free of charge and called the Family Support Services package. Coming into play on the death of a policyholder, this component provides a network of support to assist surviving families manage the challenges that arise at such times, including funeral planning.
Lincoln Heritage review: The finer details
Applicants can be no older than 85 years old, and with the cash benefit element of the plan, rates and benefits are locked in for the length of the policy. Whole life benefits are available for between $5,000 and $20,000, with an extra $100,000 benefit also available to cover accidental death. A payout can be expected within 24 hours, once a claim is approved.
In respect of the support package, new policyholders are asked to complete a two-page form when they enroll, detailing their final wishes and instructions for the type of funeral desired. Then, upon their death, loved ones can make use of a toll-free number - available 24 hours a day - through which they can harbor the support available from the Funeral Consumer Guardian Society. This includes comparing the cost of funeral homes to find the best price.
Lincoln Heritage review: Service
The Lincoln Heritage website is well designed and easy-to-use, with clear direction to whatever you might be searching for. There are guides for all the various services on offer and the costs you're likely to encounter on the death of loved one, with everything explained in the simplest possible terms, but also in great detail, so there should be no confusion over what is on offer.
You can apply for a free quote online, but with low rates that start at just $15 a month, Funeral Advantage should be affordable to most too. Customer service is available over the phone, by email or fax, and via mail, and in terms of the level of service you can expect, there are obviously positive testimonials on the website itself. More importantly, these are supported by some excellent customer endorsements at the Better Business Bureau (opens in new tab), where Lincoln receives an overall rating of four out of five stars from customers and an A+ rating from the bureau itself.
Should you use Lincoln Heritage final expense insurance?
Lincoln Heritage is the final expense insurance provider that offers a little bit more. The cash benefit portion of the proposition is similar to many others in some respects, but stands out for the ease of application, absence of a health check, and the speed with which a claim will be paid out.
What also sets Lincoln Heritage apart, however, is the family support package, providing your loved ones with invaluable professional guidance and help precisely when they are likely to need it the most.
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