Lincoln Heritage Life Insurance Review (2026)
Lincoln Heritage Life Insurance (brand name: Funeral Advantage) is a legitimate, financially strong company that specializes in final expense insurance. They are not a scam. They pay claims. They have an AM Best A (Excellent) rating. However, they are consistently one of the most expensive final expense options on the market, typically 25% to 100% more than comparable coverage from other A-rated carriers. For most seniors, better rates are available.
At a Glance
Lincoln Heritage at a Glance
| Lincoln Heritage | |
|---|---|
| AM Best Rating | A (Excellent) |
| BBB Rating | A+ (4.2/5 stars from customers) |
| Product | Final expense whole life (Funeral Advantage) |
| Coverage amounts | $5,000 - $35,000 |
| Medical exam required? | No |
| Age range | 0-85 |
| Waiting period | Modified benefit (2 years) for some applicants |
| States available | Most US states |
| Best for | Seniors who value the Funeral Advantage concierge service |
| Not ideal for | Price-sensitive applicants who can qualify at other carriers |
Strengths
What Lincoln Heritage Does Well
Funeral Advantage Concierge Service
Lincoln Heritage's signature differentiator. When the policyholder passes, the family calls a toll-free number and gets connected to a funeral planning concierge who helps coordinate arrangements. This is genuinely useful for families who may be overwhelmed during a loss.
Financial Strength
AM Best A rating. BBB A+. The company has been in business since 1963 and has paid billions in claims. There is no question about their ability to pay.
Simple Product
One product, one purpose: pay for your funeral. No confusing product lineup or upsells.
In-Person Agents
Lincoln Heritage uses a large field force of local agents. If you prefer face-to-face conversations over phone applications, that is an advantage.
Drawbacks
Where Lincoln Heritage Falls Short
Price
This is the primary drawback. Lincoln Heritage consistently prices 25% to 100% above comparable carriers for the same coverage amount, age, and health profile. A 70-year-old non-tobacco female paying $75/month at Lincoln Heritage for $10,000 of coverage could get the same coverage for $53/month from Mutual of Omaha or $55/month from Transamerica.
Maximum Coverage Capped at $35,000
Many carriers offer up to $50,000. If you need more than $35,000 in coverage, Lincoln Heritage cannot accommodate you.
Single-Carrier Limitation
Lincoln Heritage agents sell only Lincoln Heritage. They cannot show you alternatives or tell you if another carrier offers better rates for your health situation. An independent broker compares multiple carriers.
Modified Benefit on Some Policies
Applicants who do not qualify for full underwriting receive a modified benefit plan with a 2-year waiting period for natural-cause death. The modified plan only returns premiums paid + 10% interest during the first two years. Other carriers may offer Graded benefit (which pays a percentage) or may even approve the same applicant at Level day-one.
Rate Comparison
Lincoln Heritage Rates vs. Independent Carrier Rates
Lincoln Heritage does not publish rates publicly. Based on published reviews and industry data, here is how their pricing compares to carriers available through Asurgo:
Estimated Monthly Rates: $10,000 Final Expense, Non-Tobacco
| Age | Lincoln Heritage (est.) | Mutual of Omaha | Transamerica | Savings |
|---|---|---|---|---|
| 60 | $45-$55 | $33 (F) / $43 (M) | $35 (F) / $45 (M) | 20-40% less |
| 65 | $55-$70 | $41 (F) / $56 (M) | $44 (F) / $58 (M) | 20-35% less |
| 70 | $70-$95 | $53 (F) / $74 (M) | $56 (F) / $77 (M) | 20-30% less |
| 75 | $90-$120 | $68 (F) / $95 (M) | $72 (F) / $98 (M) | 20-25% less |
| 80 | $115-$155 | $85 (F) / $120 (M) | $92 (F) / $125 (M) | 20-25% less |
See your actual rate from top carriers
We compare Mutual of Omaha, Transamerica, Aflac, Aetna, AIG, and more to find your lowest qualifying rate.
The Product
Funeral Advantage Program Review
Lincoln Heritage markets their final expense product under the brand name Funeral Advantage. If you have seen a Lincoln Heritage ad or received a mailer, the Funeral Advantage name is what you will recognize. Here is what the program actually includes:
What Funeral Advantage Covers
Funeral Advantage is a whole life insurance policy designed to cover funeral and burial costs. Coverage ranges from $5,000 to $35,000. The policy pays a death benefit to your beneficiary (or directly to the funeral home if assigned) and includes Lincoln Heritage's signature concierge service. When the policyholder passes, the family can call a dedicated number for help coordinating funeral arrangements. To estimate how much coverage your family would actually need, use our burial cost calculator.
Funeral Advantage Concierge: Is It Worth the Premium?
The funeral concierge service is Lincoln Heritage's primary differentiator. When you pass, your family calls a single number and receives help with:
- Selecting a funeral home
- Coordinating arrangements
- Assigning the death benefit directly to the funeral provider
This is a genuinely useful service, especially for families who have not pre-planned. However, it comes at a cost: Lincoln Heritage's Funeral Advantage premiums are typically 20 to 40 percent higher than comparable coverage from independent carriers like Mutual of Omaha or Transamerica, as shown in the rate comparison above.
The question is whether the concierge service alone justifies $10 to $40 more per month for the same coverage amount. For families who already have a funeral home in mind or have done any pre-planning, the concierge adds limited value. For those with no plan and no one to coordinate, it can be genuinely helpful.
Funeral Advantage Alternatives
If you want the coverage without the premium markup, an independent broker can find comparable $5,000 to $35,000 whole life policies from carriers that offer the same no-exam application and same-day approval, typically at 20 to 40 percent lower monthly cost. The trade-off is that you will not get the concierge service, but you keep more money in your pocket each month.
Trust & Reputation
Lincoln Heritage: Legitimacy, BBB Rating & Complaints
Is Lincoln Heritage Legitimate?
Yes. Lincoln Heritage Life Insurance Company is a legitimate insurance carrier. They are:
- AM Best rated: A (Excellent) financial strength rating
- State-licensed: authorized to sell insurance in most US states
- Family-owned: a subsidiary of Londen Insurance Group, Inc., the Phoenix-based parent company
- In business since 1963, over 60 years
Lincoln Heritage is not a scam, not a pyramid scheme, and they pay claims. They are a real insurance company that sells a real product.
Is Lincoln Heritage a Pyramid Scheme?
No. Lincoln Heritage uses a captive agent model, meaning their agents sell only Lincoln Heritage products. This is a standard insurance distribution model, not a pyramid scheme. Agents earn commissions on policies they sell, which is how all insurance agents are compensated. The confusion may arise because Lincoln Heritage actively recruits agents, which can look similar to multi-level marketing from the outside. But selling insurance requires a state license, and the commission structure is regulated by state insurance departments.
BBB Rating & Complaints
Lincoln Heritage's reputation data tells a two-sided story:
- BBB rating: Lincoln Heritage holds an A+ accredited business rating from the Better Business Bureau. However, BBB customer reviews average roughly 1 to 2 out of 5 stars, with several hundred complaints closed in the past three years.
- NAIC complaint index: per the NAIC Consumer Insurance Search, Lincoln Heritage's life complaint index has run below the 1.0 national median in recent years (around 0.72 to 0.75), meaning fewer formal regulatory complaints than expected for a company its size.
The takeaway: formal regulatory complaints filed with state insurance departments are below average, while volunteered consumer reviews skew negative. Common complaint themes include premium pricing higher than expected (addressed in our rate comparison above), difficulty canceling or switching policies, and confusion about modified or graded benefit terms on some policies.
If you currently have a Lincoln Heritage policy and are considering alternatives, see our FAQ below on switching carriers.
Is It Right for You?
Who Should Consider Lincoln Heritage
Lincoln Heritage may be the right choice if:
- You specifically want the Funeral Advantage concierge service for your family
- You prefer working with a local, in-person agent rather than phone/online
- You have significant health issues that other carriers decline (Lincoln Heritage's modified plan has broad acceptance)
- Convenience matters more than cost to you
Lincoln Heritage is probably NOT the right choice if:
- You want the lowest rate for your coverage amount
- You are comfortable comparing options by phone
- You qualify for simplified issue at other carriers (most people do)
- You need more than $35,000 in coverage
Side by Side
How Asurgo's Carriers Compare
Asurgo is an independent broker representing top-rated final expense carriers. Here is what that means for you:
| Lincoln Heritage | Asurgo (11 Carriers) | |
|---|---|---|
| Carriers compared | 1 (themselves only) | Multiple top carriers (Mutual of Omaha, Transamerica, Aflac, Aetna, AIG, and more) |
| Pricing | Single rate, no comparison | Lowest rate across top carriers |
| Coverage max | $35,000 | $50,000 |
| Application process | In-person or phone | Phone (5-10 min) |
| Funeral concierge | Yes (Funeral Advantage) | No |
| Approval time | Same day | Same day (95%+) |
| Health acceptance | Broad (modified plan available) | Broad (multiple carriers = more Level day-one options) |
The key difference: An independent broker's job is to find you the best rate across multiple carriers. A Lincoln Heritage agent's job is to sell you Lincoln Heritage. Both are legitimate, but one approach guarantees you see more options.
Compare your rate across top carriers
Free, no obligation. Most applicants get a decision in under 30 minutes.
References
Sources
- AM Best Financial Strength Ratings - AM Best Company
- NAIC Consumer Insurance Search - National Association of Insurance Commissioners
- Lincoln Heritage Life Insurance Company, BBB Profile - Better Business Bureau
Common Questions
Frequently Asked Questions
Is Lincoln Heritage a scam?
No. Lincoln Heritage is a legitimate, financially strong life insurance company with an AM Best A (Excellent) rating, BBB A+ accreditation, and billions paid in claims since 1963. They are not a scam.
Is Lincoln Heritage worth the price?
It depends on what you value. If the Funeral Advantage concierge service and in-person agent experience are important to you, the higher price may be worth it. If your priority is the lowest rate for your coverage amount, other A-rated carriers typically offer the same coverage for 20-40% less.
How much does Lincoln Heritage cost per month?
Lincoln Heritage rates vary by age, gender, health, and coverage amount. Based on published reviews, a 70-year-old non-tobacco applicant can expect to pay roughly $70-$95/month for $10,000 of final expense coverage. Comparable coverage from other A-rated carriers runs $53-$77/month at the same age.
Can I switch from Lincoln Heritage to another carrier?
Yes. You can purchase a new policy from another carrier at any time. Once your new policy is in force, you can cancel Lincoln Heritage and stop paying premiums. There is no penalty for cancellation. Your new rate will be based on your current age, so switching sooner saves more.
Does Lincoln Heritage require a medical exam?
No. Lincoln Heritage uses simplified issue underwriting (health questions, no exam). Applicants who do not qualify for full coverage receive a modified benefit plan with a 2-year waiting period.
What is the Funeral Advantage program?
Funeral Advantage is Lincoln Heritage's brand name for their final expense product. It includes a concierge service that helps your family coordinate funeral arrangements when you pass. The concierge connects them with funeral homes and helps manage logistics. This is a genuine differentiator that other carriers do not offer.
How does Lincoln Heritage compare to Colonial Penn?
Both are expensive relative to independent-carrier alternatives. Lincoln Heritage offers higher coverage (up to $35,000 vs. Colonial Penn's low unit-based amounts) and better financial ratings. Colonial Penn's $9.95/unit plan delivers very little coverage per dollar. Neither offers the lowest rates available in the market.
Is Lincoln Heritage a pyramid scheme?
No. Lincoln Heritage is a licensed insurance company, not a pyramid scheme. They use a captive agent model where agents sell only Lincoln Heritage products and earn commissions on policies sold. This is a standard insurance sales structure regulated by state insurance departments. The confusion may come from Lincoln Heritage's active agent recruitment, which can resemble multi-level marketing. However, insurance agents must hold state licenses, and commissions are based on policy sales, not recruiting, which is the defining difference from a pyramid scheme.
Is the Funeral Advantage program for seniors legitimate?
Yes. Funeral Advantage is Lincoln Heritage's brand name for their final expense whole life insurance product. It is a real insurance policy underwritten by Lincoln Heritage Life Insurance Company, an AM Best A (Excellent) rated carrier. The Funeral Advantage program includes a death benefit plus a funeral planning concierge service. It is not a scam. The main consideration is pricing. Funeral Advantage premiums are typically 20 to 40 percent higher than comparable whole life coverage from independent carriers like Mutual of Omaha or Transamerica.
What is Lincoln Heritage's BBB rating?
Lincoln Heritage Life Insurance Company holds an A+ accredited business rating from the Better Business Bureau. However, that letter grade reflects how the company handles complaints, not customer satisfaction. BBB customer reviews average roughly 1 to 2 out of 5 stars, with several hundred complaints closed in the past three years, commonly about billing, cancellations, and benefit confusion. Notably, the company's NAIC regulatory complaint index has run below the national median, so formal complaints filed with state insurance departments are fewer than expected for its size. We recommend checking both BBB and NAIC complaint data when evaluating any carrier.
How much does Lincoln Heritage Funeral Advantage cost?
Lincoln Heritage Funeral Advantage rates depend on your age, gender, health status, and coverage amount. Based on industry estimates for $10,000 in coverage (non-tobacco), expect approximately $45 to $55 per month at age 60, $55 to $70 at age 65, $70 to $95 at age 70, and $90 to $120 at age 75. These rates are generally 20 to 40 percent higher than comparable coverage from independent carriers. For example, Mutual of Omaha's Living Promise offers $10,000 at age 65 for $41 per month (female) compared to Lincoln Heritage's estimated $55 to $70 range. See our full rate comparison table above.
Related Pages
Ready to compare?
Asurgo compares top-rated final expense carriers to find you the lowest rate for your health profile. No obligation, no pressure, no Lincoln Heritage upsell, just an honest comparison.
Get Your Free Quote Or call (855) 380-9555 · Mon-Fri 8am-8pm, Sat 9am-5pm ET
Nicholas Norminton, Licensed Insurance Specialist
Specialties: final expense, carrier comparison, independent broker placement, simplified-issue underwriting.
Nicholas is a nationally licensed insurance specialist with extensive experience across the industry. He has personally helped thousands of clients secure life insurance coverage and built Asurgo into a trusted, tech-forward brokerage serving clients in 48 states.