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.
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.
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.
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 all 50 states.