Lincoln Heritage 2023 Review: The Best Final Expense Insurance?

If you don’t qualify for traditional life insurance, you may need to consider final expense insurance.

And one company that offers final expense insurance is Lincoln Heritage- through their sole Funeral Advantage policy.

So are they a good choice?

In this review, I’ll give you my honest opinion. I take an in-depth look at the company and policy.

I’ll go through the pros and cons, what customers are saying, costs, and answer some common questions.

About The Company

As a family-owned and run company, Lincoln Heritage offers personalized service and treat customers as people, not numbers.

They only sell final expense insurance and have an ‘A-‘ AM Best rating and an A+ Better Business Bureau rating.

What Does Lincoln Heritage Offer?

You won’t find term life insurance policies or even variations of permanent life insurance at Lincoln Heritage. They offer only Final Expense insurance, which is whole life insurance with a twist.

The coverage helps your loved ones pay for your funeral, burial or cremation, and any end-of-life medical expenses and/or liabilities you may have left behind.

Pros & Cons


  • Only one insurance product to choose from, making your decision easy.
  • Grows a cash value over time.
  • Your rate and coverage remain the same even as you age.
  • No medical exam necessary – you only answer questions online.
  • Offers a large variety of add-ons and riders.
  • A suitable coverage option if you can’t get fully underwritten life insurance.
  • Pays claims within 24 hours.
  • Each plan includes a dedicated representative from the Funeral Consumer Guardian Society.


  • Above-average premiums, even for healthy individuals.
  • They only offer coverage up to $20,000.
  • If you have certain health conditions, you’ll have a 3-year waiting period.
  • Lincoln Heritage’s sales tactics are intense.

Common Questions

How do you buy Lincoln Life Insurance?

Lincoln Heritage has a one-page application. You can complete the application online by answering all the required questions.

They don’t require a medical exam. If your answers pass the test, you get coverage.

Are Lincoln Life Insurance policies available in every state?

The Funeral Advantage program is available everywhere, except New York.

What happens if you cannot make a payment?

If you don’t make your payment, Lincoln Heritage provides a 31 – 60 day grace period. The exact grace period depends on where you live.

If you don’t pay the premium before the grace period ends, the policy ends. You may also take a premium loan from the policy’s cash value, but you must repay it.

How do you file an insurance claim?

You can call, mail-in, or email a claim. You must provide the name of the insured, the insurance policy number, and the date the insured died.

Lincoln Heritage needs a copy of the certified death certificate and a copy of the original insurance policy. If the death was an accident, they need the accident/autopsy report.

Can you get a Lincoln Heritage policy if you smoke?

Lincoln Heritage doesn’t turn smokers away, but like any policy, they charge much higher premiums because of the health issues smoking may cause.

Can you name a funeral home as your beneficiary?

Since your policy is for final expenses, you may name a funeral home as your beneficiary.

While this may not be the best choice, as it takes away your family’s ability to manage the funds, some people prefer it.

As long as you don’t live in one of the following states, you may name the funeral home as the beneficiary:

  • Florida
  • New Jersey
  • South Dakota
  • Tennessee
  • Texas
  • New Mexico
  • Maryland
  • Michigan
  • Montana

Final Expense Policies

Lincoln Heritage offers only one life insurance policy called Funeral Advantage Life.

This whole life policy covers your final expenses with up to $20,000 in coverage. The policy grows a cash value as well, which you can borrow from throughout your life, but you must pay it back.

Although there is only one policy, there are two coverage options, your answers to the application’s questions will determine your coverage:

Immediate coverage

You get coverage right away and there’s no waiting period. This means your beneficiaries will get a full payout no matter when you pass.

Modified coverage

This policy includes a waiting period of 2 years if you’re under 50-years old, and 3 years if you’re over 50-years old.

If you die within the waiting period, your beneficiaries receive only the premiums you paid plus 10% – 30% depending on your coverage.

You won’t be eligible for immediate coverage if you have any of the following:

  • Heart issues
  • Lung issues
  • Kidney issues
  • Cancer
  • Alzheimer’s or dementia

Each Lincoln Heritage policy comes with a membership to the Funeral Consumer Guardian Society.

This entitles your family to help when finding the right funeral home, including getting quotes and choosing the right services.

Who Doesn’t Qualify?

Because there’s no medical exam, most people qualify for a final expense insurance policy unless they have one of the following conditions:

  • HIV
  • Terminal cancer
  • A terminal illness aside from cancer
  • Incarceration
  • Those who are in a hospice

Family Support Services

Besides the final expense insurance benefits, Lincoln Heritage offers beneficiaries funeral planning services.

The Funeral Consumer Guardian Society supports your loved ones immediately upon claim filing.

Personalized to your wishes

When you sign up for the policy, the FCGS helps you choose the funeral type and any other arrangements you want.

They keep these wishes on file and provide your loved ones with a 24-hour toll-free number to call when needed.

When your beneficiaries need the service, the FCGS immediately compares funeral home prices and options for them.

According to Lincoln Heritage, they save families an average of $1,800 on funeral services and up to $600 on cremation services.

Costs & Premiums

Lincoln Heritage’s immediate coverage policies cost as much as 50 percent less than modified coverage policies because of the risk modified coverage policies take.

The average 50-year-old female pays $31.80 a month for immediate coverage of $10,000 and $76.10 a month for modified coverage.

The average 50-year-old male pays $38.60 a month for immediate coverage of $10,000 and $88.70 per month for modified coverage.

The rates increase as you age. For example, an 80-year-old female in good health pays $145 a month for immediate coverage and $169 a month for modified coverage.

Additional & Riders

Sometimes final expense insurance isn’t enough. Lincoln Heritage offers additional benefits with add-ons and riders to help, but they increase your premiums:

  • Child riders
  • Accidental death coverage
  • Discount plans for medical and dental bills
  • Discount plans for vision and pharmacy services
  • Identity theft protection

The accidental death coverage is the most common rider purchased.

Depending on how much you purchase, your beneficiaries may receive as much as an additional $100,000 if your death is an accident, and the autopsy proves it.

What Customers Are Saying

Lincoln Benefit has an Excellent rating from AM Best (A-) and their number of consumer complaints is right along the lines of the average life insurance company.

Customers love the in-house customer service Lincoln Heritage offers. They all say this insurance company has fast payouts after a claim, exactly as they promise.

Many customers, however, don’t appreciate the hard-ball sales tactics Lincoln Heritage insurance agents use.

Should You Choose Them?

If you’re not eligible for standard life insurance because of health issues, or an advanced age, Lincoln Heritage offers great final expense insurance.

Just know that their rates are higher than an average life insurance policy, due to the absence of a medical exam.

Also, keep in mind, if you have any ‘major health issues,’ you may be stuck with the modified plan, which means no coverage for the first 2 – 3 years, while you still pay the premiums. If this applies to you, consider shopping around to find your best options.