The benefits explained
- Includes free assistance with funeral prize purchases: With a Lincoln Heritage policy, your family will have the support of a dedicated Funeral Consumer Guardian Society (FCGS) representative to help you find the best prices for funeral services. FCGS saves beneficiaries an average of $1,850 on traditional funeral services.
- No medical examination required: You can get coverage by answering a few health questions, and most people are accepted.
- Approved claims paid within 24 hours: Checks are issued within 24 hours and then you just need to allow time for them to arrive in the mail.
- There may be a timeout: Lincoln Heritage notes that some applicants with medical conditions may only qualify for a modified plan, which usually comes with a two- or three-year waiting period, depending on your age. If you die during the waiting period, your beneficiaries will receive your paid premiums plus a small percentage, but not the full death benefit.
- No online quote: Although you can start a quote online, you’ll have to wait for someone to contact you with your exact price.
- No complaints online: You can only start a complaint by telephone, e-mail, fax or post.
- Approximate average number of complaints to the NAIC: Lincoln Heritage received about an average number of complaints from the NAIC in 2021. In 2020 they received more complaints than average and in 2019 slightly fewer complaints than average. That makes it a mixed record at best, in the middle of the road.
Index of complaints
Lincoln Heritage has received a disturbing number of consumer complaints over the past three years. The National Association of Insurance Commissioners (NAIC) reports an annual complaints index for each insurer that indicates the number of complaints received by a company based on its size. An index of 1.00 indicates an expected number of complaints given the size of the company. An index above 1.00, however, indicates that the company has received more complaints than expected. In 2021, Lincoln Heritage had a complaint index of around 1.02 on average, in 2020 a mediocre index of 1.57, and in 2019 a slightly positive index of 0.91. This complaints record is mixed at best and slightly worrisome, to say the least. Major life insurance providers tend to receive fewer complaints relative to their size and have lower complaint indices.
Most of the top insurers we review do not score above 1.00 in any given year.
Lincoln Heritage gets high marks for financial stability, but other companies that offer final expense coverage fare better. Lincoln Heritage received an A- (Excellent) financial strength rating from AM Bestan independent rating agency specializing in the insurance sector.
AM Best ratings are important because they indicate a company’s ability to meet its insurance obligations now and in the future. When comparing life insurance companies, you’ll want to choose one that can reliably pay claims. That’s why we generally don’t recommend any company with a rating below A-. While Lincoln Heritage received an acceptable rating, other companies are rated A, A+ or A++.
End-of-stay expense insurance
End-of-stay expense insurance is a type of whole life insurance that provides permanent coverage and a small death benefit designed to cover end-of-life costs. The policy never expires as long as the premiums are paid and it creates a cash value component. Lincoln Heritage offers up to $20,000 in coverage with rates based on your answers to a few health questions. Although the company notes that most people with medical conditions will be eligible, this is not a guaranteed issue Politics.
Riders are add-ons to insurance policies that allow you to customize your coverage to suit your needs. For example, some riders offer living benefits that allow you to access a portion of the death benefit if you are diagnosed with certain conditions. Others allow you to suspend premium payments. Lincoln Heritage offers a free program and an optional add-on.
Price shopping and family support services
Although not a traditional endorsement, this program is included with every policy at no additional cost. It gives beneficiaries access to a dedicated Funeral Consumer Guardian Society representative who can help your family save money on funeral expenses.
Accidental Death Benefit Rider
Available as an option, this rider provides up to $100,000 in additional death benefits if the cause of your death is determined to be an accident.
Lincoln Heritage does not provide eligibility details online, so be sure to ask a representative how the endorsement works and how much it costs before adding it to your policy.
You can manage your policy or make payments through your online account. If you need further assistance, you can also contact Customer Service on weekdays between 6:00 a.m. and 5:00 p.m. MST or on Saturdays between 6:00 a.m. and 2:00 p.m. MST. Depending on your needs, use one of the phone numbers or email addresses below.