May 13, 2022
  • May 13, 2022

Lincoln Heritage 2022 Life Insurance Review

By on December 31, 2021 0

Lincoln Heritage is a small family life insurance company that exclusively sells end expense insurance. Its Funeral Advantage offering is the largest end-expense insurance program in the United States. Lincoln Heritage was founded in 1963 and has been selling final expense life insurance policies for over 55 years. The company does not sell traditional individual life insurance policies, such as term life insurance or whole life insurance policies.

  • Established date: 1963
  • Insurance products offered: Individual (final expense only)
  • AM Best Financial Strength Rating: A- (Excellent)
  • NAIC Complaints Index: 1.94 (above average for complaints)
  • Availablity: 49 states and Washington DC.
Advantages The inconvenients
Leading end-expense insurance provider Does not offer term or whole life policies
Good financial strength ratings Unable to get instant quote online
No medical examination is required Low coverage limits
Claims are usually paid within 24 hours No local agent
Premiums tend to be affordable
Family support services are offered free of charge

Types of Lincoln Heritage Life Insurance Coverage

If you are looking for final expense insurance, Lincoln Heritage life insurance may be a good option. However, this provider does not sell traditional term life insurance or whole life insurance policies. The coverage limits are pretty low, and the company doesn’t list any runners on their website. Here’s a look at what you get with Lincoln Heritage’s Funeral Advantage:

  • Final expense insurance: Final expense insurance is designed to cover funeral expenses, including cremation services, burials, and final medical bills. This type of policy is usually purchased by seniors who need guaranteed coverage. The Lincoln Heritage Funeral Advantage program includes coverage up to $ 20,000. No medical exam is required and premiums are generally affordable. This policy has a cash benefit and benefits from a 24 hour claim payment for approved claims, as well as level premiums for the term of the policy. You can also purchase accidental death insurance up to $ 100,000. Another benefit of this policy is that it comes with free support from the Funeral Consumer Guardian Society (FCGS), which can help you plan your loved one’s funeral and offer emotional support.

Lincoln Heritage Life Insurance Customer and Claims Satisfaction

Since Lincoln Heritage is a small insurance company with limited offerings, it doesn’t have a lot of third-party reviews from reputable research organizations. However, it has higher-than-average complaints according to the National Association of Insurance Commissioners (NAIC).

Lincoln Heritage’s NAIC Company Complaint Index score for individual life insurance is 1.94, which is higher than the national benchmark of 1.0. In 2020, the company had 17 complaints in total for individual life insurance. Lincoln Heritage life insurance reviews indicate that the carrier may have issues with customer experience and claims satisfaction.

In terms of accessibility, you cannot get a life insurance quote or file claims with Lincoln Heritage online. And while there are a variety of resources online, the company does not offer a life insurance calculator to help you determine the amount of coverage you need.

If you currently have a Lincoln Heritage policy, you can make payments, download policy forms, and view your policy details online. However, you will not be able to make changes directly. You will need to contact an agent directly to file a claim or make changes to your coverage by calling Lincoln Heritage during business hours.

Other insurance products (if available)

While most life insurance companies offer multiple policies, Lincoln Heritage only offers final expense insurance, which is a form of guaranteed life insurance. It is also called funeral insurance or funeral insurance. You cannot purchase any other type of life insurance or property insurance from this provider. All final expense policies are underwritten by Lincoln Heritage Life Insurance Company.

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