2023 Lincoln Heritage Life Insurance Review/Rates - PinnacleQuote

2023 Lincoln Heritage Life Insurance Review/Rates

We do not offer Lincoln Heritage life insurance. In fact, we replace these policies often!

Lincoln Heritage Life Insurance Company is a small, family-owned company that has been in operation since 1963. They only sell final expense policies and their products are designed to help your loved ones pay for burials expenses without having to put up any money themselves; it truly is an investment worth making!

This is our review to inform seniors before they purchase this product.

Who is Lincoln Heritage

Lincoln Heritage is a Phoenix-based company that specializes in selling final expense life insurance policies. This type of plan does not have any benefits until you die, so it’s best for those who won’t need the money anymore and want to prevent their survivors from being left destitute or worse off financially after they’re gone.

Lincoln heritage only sells these types of plans nationwide except for New York.

Company Websitewww.LHLIC.com
Phone Number800-438-7180
Mode of Payment OptionsMonthly
Customer ServicePhone, Captive agent, Face to face
How Many Products1
Kind of ProductSimplified Issue Whole Life
Year of Incorporation/Founded1963

We DO NOT offer Lincoln Heritage as they are a inferior product and there are so many better options elsewhere.

The pros and the cons! Advantages and disadvantages, which you consider carefully so that you can make a sensible decision
Membership to the Funeral Consumer Guardian Society Coverage amounts are limited
No need to take a medical exam Captive agents are motivated to just sell you a policy
Accidental death benefit up to $100,000 One dimensional product, just final expense
Pricing is over 30% higher than competitors


  • Lincoln Heritage is not available in NY
  • Well over 1 million Policyholders
  • Final Expense Insurance is all they sell
  • Is part of the Londen Insurance Group
  • Based in Phoenix, AZ and Founded in 1963

Pros and Cons of Lincoln Heritage Life Insurance


  • No medical exams required and
  • they offer $100K per accident for death coverage!
  • Membership in Funeral Consumer Guardian Society included too- this group can help your beneficiaries through anything from funerals all of way through their financial future


  • With other companies, you can get term or whole life policies that are large enough to provide for your family long after you’re gone. However Lincoln Heritage only offers final expense plans and
  • The maximum coverage amount available is $20K – not quite as robust of an option when it comes down deciding how much protection should take place in one’s lifetime!
  • Agents may also be incentivized by receiving a commission from selling top-of-market products given their financial incentives aligning directly towards insurance sales which makes them biased toward recommending more expensive options over cheaper alternatives

Good to take note that Lincoln Heritage paid just under $200 million in death claims in 2019.

Some commonly asked questions:

Is Lincoln Heritage a pyramid scheme?

Lincoln Heritage is not only legitimate but also does an excellent job helping people nationwide with their burial insurance needs. You should never consider Lincoln heritage a pyramid scheme or illegal “scam” because that would be comparing it to something nefarious!

Is Funeral advantage a legitimate company?

Lincoln Heritage’s Final Expense Insurance has an A+ rating from BBB and no health exam required, they offer an easy qualification that fits your needs.

What Plans Does Lincoln Heritage Life Insurance Offer

Lincoln Heritage offers one life insurance plan, and that’s final expense coverage. They do not offer index universal life or term insurance.

You can submit your information online to the company but will need an agent to come to your house for a quote because it requires health questions like other plans do. In addition, they offer coverage for burials and cremations.

Lincoln Heritage is a company that does its best to make sure you get your money as quickly and safely as possible. They say most claims are paid within 24 hours, THIS IS NOT TRUE!!!! In addition, NOWHERE in their contract does it state that!!

Again, these plans offered are overpriced and in our opinion a gimmick. There are much better options out there to choose from.

What Riders Are Available

Lincoln Heritage Insurance offers a single rider for your convenience, but if you want more than one option to customize coverage with just one phone call.

Lincoln Heritage Accidental Death Rider

Accident insurance is a must for any family!!

This year, make sure your accidental death coverage includes up to $100K in benefits with an additional premium. With this rider on hand and if you pass away due to a covered accident (or even just some injuries!), loved ones will receive another payment from the policy they paid into all those years ago – just like that!

Important note: We can find you a stand alone ADD policy for 9.95/month for $100,000, 60% cheaper than the rider from Lincoln Heritage!!

How Good Is Lincoln Heritage Customer Service

Lincoln Heritage is a company that sells its policies through independent contractors. Contact customer service by calling 800-438-7180, and they are available Monday through Friday from 6 am until 5 pm MST or on Saturdays from 6 am to 2 pm mountain standard time (whichever comes first).

Policyholders can also manage their account online via the Lincoln Heritage portal where you’ll find policy details as well download forms needed for changes if desired.

Lincoln Heritage Customer Complaint Index Score

It’s a tough world out there. You have to be ready for anything, and so do your insurance companies!

In 2020 Lincoln Heritage had an individual life complaint ratio of 1.40, much worse than typical for their industry peers. This means they received more complaints from customers about this product line in comparison to other insurers who offer similar services but at lesser rates or quality levels.

Not much better than another agency, SelectQuote.

If you are looking for coverage for your parents I would look elsewhere.

Important note: Lincoln Heritage had more complaints than that of there peers, in fact, 2 of the last 3 years it has been FAR WORSE than average, something to keep in mind!!

What is Lincoln Heritage Ratings

Lincoln Heritage has a strong rating. AM Best, the credit-rating agency focused on insurance companies for its opinions about financial soundness and policy obligations can be met was impressed by Lincoln’s A (Excellent) grade given to them by AM Best.

What is Lincoln Heritage Policy Cancellation

Lincoln Heritage offers a 10-day free look period, during which you can decide whether or not to cancel your policy. But before signing all those legal documents be sure to read through them carefully so there aren’t any surprises along the way.

Lincoln Heritage Rates Comparison

Lincoln Heritage is not your average company. They require you to submit personal information and wait before being contacted by an agent with a quote, but when it comes down to how much they cost per month the rates are higher than average for adults in good health who want coverage of their vehicles as well.

Below are some examples:

$5,000 Death Benefit

Age When ApplyingLincoln Heritage
Female Rates
Lincoln Heritage
Male Rates
Best Rate

$10,000 Death Benefit

Age When Applying Lincoln Heritage
Female Rates
Lincoln Heritage
Male Rates
Best Rate

Being nonbinary won’t prohibit you from qualifying for life insurance. However, if your application is outdated and restrictive due to a lack of gender awareness in underwriting processes then Lincoln Heritage might not be the company that helps meet all of your needs!

Important Note: Lincoln Heritage is between 30%-100%+ more in price than competitors. Alternatives are much better!

How Does Lincoln Heritage Line Up Against The Competition

Lincoln Heritage is a much more expensive life insurance company than its competitors! For that reason, we compared it with Mutual Of Omaha – another pick for the best-in-class companies who sell final expense policies as well as term and universal coverage options that provide families great protection at higher limits.

 CategoryLincoln HeritageMutual of Omaha
Service MethodAgentsAgents/Telesales
AM Best RatingA- (Excellent)A++ (Superior)
Price RankWorse than AverageOne of the best
Complaints Trend1.401.06

Above all, there really is not a scenario that Lincoln Heritage comes out on top when comparing them to competitors.

Final Conclusion

If you want to be sure your loved ones are taken care of in the event something were ever to happen, Lincoln Heritage Life Insurance couldn’t hurt. However, there are MUCH BETTER alternatives.

Although It offers a basic policy with $20K worth of coverage and doesn’t require any medical exams, they are grossly overpriced!

Our advice, shop and find the alternative, you will be happier. Even a prepaid plan is better.