Lincoln Burial Insurance Guide [2025]

Planning for end-of-life expenses is a crucial step in securing peace of mind for yourself and your loved ones. Burial insurance, also known as final expense insurance, is designed specifically to cover these costs, ensuring your family isn’t burdened financially during a difficult time. One company frequently associated with this type of coverage is Lincoln Heritage Life Insurance Company. While they are a prominent name, understanding their offerings, particularly the Lincoln Funeral Advantage program, and how they stack up against the broader market is vital before making a decision.

This guide will delve into Lincoln burial insurance, examining its features, potential benefits, and drawbacks. Crucially, we’ll emphasize why comparing options through an independent agency is essential. At Insurance By Heroes, founded by a former first responder and military spouse, our team comprises professionals with backgrounds in public service. We understand commitment and the importance of finding the right protection. Unlike agents tied to a single company, we partner with dozens of top-rated carriers. This independence allows us to shop the market extensively, tailoring coverage specifically to your unique needs and budget, ensuring you get the best value, whether that’s with Lincoln Heritage or another provider.

What Exactly is Burial Insurance?

Burial insurance is a type of whole life insurance policy designed with smaller face amounts, typically ranging from $2,000 to $50,000. Its primary purpose is to cover final expenses, which can include:

• Funeral home costs (casket, service fees, embalming, viewing)
• Burial plot or cremation costs
• Headstone or grave marker
• Medical bills left behind
• Legal fees
• Credit card debt or other small outstanding balances
• Travel expenses for family members

Because it’s a form of whole life insurance, burial insurance comes with several key features:

• Lifetime Coverage: As long as premiums are paid, the policy remains in force for your entire life. It doesn’t expire like term life insurance.
• Fixed Premiums: Your premium payments are generally guaranteed never to increase.
• Guaranteed Death Benefit: The face amount of the policy is guaranteed never to decrease.
• Cash Value Accumulation: A portion of your premium payments contributes to a cash value account that grows tax-deferred over time. You may be able to borrow against this cash value or surrender the policy for its cash value if needed (though this typically reduces or eliminates the death benefit).

Burial insurance policies are often categorized by their underwriting process:

• Simplified Issue: Requires answering health questions but does not require a medical exam. Approval can often happen quickly, sometimes within days or even minutes. This is the most common type for final expense insurance.
• Guaranteed Issue: Requires no health questions and guarantees approval within certain age limits. However, these policies typically have higher premiums and always include a graded death benefit period (usually 2-3 years).

Understanding these basics helps frame the discussion around specific providers like Lincoln Heritage.

Who is Lincoln Heritage Life Insurance Company?

Founded in 1963, Lincoln Heritage Life Insurance Company has carved out a niche by focusing almost exclusively on final expense life insurance. Based in Phoenix, Arizona, they market themselves as a leading provider of burial insurance for seniors. Their flagship product is the Funeral Advantage program, which combines a simplified issue whole life policy with access to funeral planning assistance services.

Lincoln Heritage utilizes a large network of agents across the country and invests heavily in direct mail and television advertising, making their brand highly visible. They often emphasize quick claims payment, sometimes within 24 hours of claim approval.

While Lincoln Heritage is a well-established company specializing in this market, it’s crucial to remember that specialization doesn’t automatically equate to the best fit or the best price for every individual. Their approach, product structure, and pricing need careful consideration alongside alternatives available through the wider insurance market – comparisons that Insurance By Heroes excels at providing due to our independence.

A Closer Look: The Lincoln Funeral Advantage Program

The core offering from Lincoln Heritage is the Funeral Advantage program. It’s not just an insurance policy; it’s a bundled package consisting of two main components:

1. Final Expense Life Insurance Policy

This is the insurance component that provides the cash payout upon the insured person’s death. Key features typically include:

• Policy Type: Whole Life Insurance.
• Coverage Amounts: Generally available up to $20,000 or $35,000, depending on the state and specific product details. This range is typical for final expense policies but might be lower than what some other carriers offer.
• Issue Ages: Usually available for individuals aged 40 to 85, although specific age ranges can vary.
• Underwriting: Simplified Issue. Applicants answer several health questions on the application (covering conditions like recent hospital stays, cancer, heart issues, COPD, etc.). There is no medical exam required. Based on these answers, approval can be granted quickly.
• Death Benefit Structure: Depending on your health history (as revealed by your answers to the health questions), Lincoln Heritage may offer:
  • Level Death Benefit: The full face amount is payable from the first day the policy is active, even for death due to natural causes. This is typically offered to healthier applicants.
  • Graded Death Benefit: For applicants with certain pre-existing health conditions, the policy may have a waiting period, usually two years (sometimes three). If death occurs due to natural causes during this period, the beneficiaries typically receive a return of the premiums paid, plus a small percentage of interest (e.g., 10% or 30% depending on the specific policy version and state). If death is accidental, the full death benefit is usually paid even during the graded period. After the graded period ends, the full face amount is payable for death from any cause.
• Cash Value: Like other whole life policies, it builds cash value over time.

2. Funeral Consumer Guardian Society (FCGS) Membership

This is the service component bundled with the Lincoln Heritage life insurance policy. Upon purchasing Funeral Advantage, the policyholder (and sometimes their spouse or partner) receives a free lifetime membership in the Funeral Consumer Guardian Society. FCGS states its purpose is to help families plan and carry out their loved ones’ final wishes.

Key claimed benefits of FCGS include:

• Funeral Planning Assistance: Policyholders receive planning forms to document their final wishes (burial/cremation, service details, etc.). FCGS stores these wishes.
• Family Support: Upon the policyholder’s death, FCGS is contacted (usually by the beneficiary). They aim to notify the chosen funeral home and share the documented wishes.
• Price Negotiation: FCGS claims to help compare funeral home prices and potentially negotiate savings on behalf of the family, leveraging knowledge of industry pricing. Their goal is to help ensure the family isn’t overcharged during a vulnerable time.

Evaluating FCGS: While the idea of planning assistance and potential price negotiation sounds appealing, it’s important to critically assess its value. Many reputable funeral homes offer pre-planning services directly, often at no charge. Families can also comparison shop funeral home prices themselves using tools like the legally mandated General Price List (GPL) that every funeral home must provide. The actual savings achieved by FCGS can be difficult to quantify beforehand. The critical question becomes: Does the inclusion of FCGS justify the premium cost of the Lincoln Heritage policy compared to other carriers offering similar insurance coverage without this specific bundled service? This is a key area where comparison shopping becomes vital. An independent agency like Insurance By Heroes can help you evaluate the total cost versus the actual insurance benefit you receive from Lincoln Heritage compared to numerous other highly-rated companies.

Lincoln Burial Insurance: Potential Pros and Cons

Like any insurance product, Lincoln Heritage’s Funeral Advantage program has potential advantages and disadvantages.

Potential Pros:

• Simplified Underwriting: The lack of a medical exam and reliance on health questions makes the application process relatively quick and easy.
• Focus on Final Expenses: The product is clearly designed and marketed for covering burial and related costs.
• FCGS Membership: For individuals who value having a third-party organization assist with funeral planning and price shopping, this bundled service might be seen as a significant benefit.
• Established Company: Lincoln Heritage has been operating for decades, focusing specifically on this market segment.
• Fast Claim Payout Reputation: They often advertise the ability to pay approved claims quickly, which can be helpful for families needing immediate funds for funeral expenses.

Potential Cons:

• Cost: This is frequently cited as the most significant drawback. Lincoln Heritage policies are often considerably more expensive than policies from other highly-rated insurance carriers offering the same or similar coverage amounts and death benefit structures (level or graded). This higher cost may be attributed to factors like extensive advertising budgets, commission structures, and the bundled cost of the FCGS service.
• Limited Coverage Amounts: The maximum coverage available (often $20,000 or $35,000) might be insufficient for individuals seeking larger whole life policies or needing to cover more substantial debts beyond basic funeral costs. Other carriers readily offer higher face amounts in simplified issue whole life.
• Value of FCGS Questionable for Some: As mentioned, the tangible financial benefit of FCGS is debatable and may not justify a higher premium for everyone, especially if they are comfortable doing their own planning or comparison shopping.
• Captive Agents or Lead-Driven Sales: While Lincoln Heritage works with many agents, the focus might sometimes feel more transactional, driven by leads from advertising. An agent representing only Lincoln Heritage cannot offer alternatives if another company provides a better rate or more suitable underwriting for your health profile.
• Graded Death Benefits: While common in simplified issue final expense insurance for certain health conditions, it’s crucial applicants understand if their policy has a waiting period and how it works. Sometimes, other carriers might offer a level (day-one) benefit for the same health conditions where Lincoln might only offer graded.
• State Availability: Lincoln Heritage products may not be available in all states (New York is a notable example).

These pros and cons underscore a critical point: evaluating an insurance policy involves more than just brand recognition or a single appealing feature. The overall value – the amount and type of coverage received for the premium paid – is paramount. This is precisely why the independent approach of Insurance By Heroes is so beneficial. We can lay out the options from Lincoln Heritage alongside quotes from dozens of other carriers, allowing you to make an informed decision based on comprehensive comparisons, not just a single company’s offerings.

How Does Lincoln Heritage Compare to Other Burial Insurance Carriers?

The final expense insurance market is competitive, with numerous reputable companies offering quality products. When comparing Lincoln Heritage to competitors, several key differences often emerge:

• Pricing: As repeatedly emphasized, Lincoln Heritage frequently appears at the higher end of the price spectrum for comparable coverage. Companies like Mutual of Omaha, Aetna (CVS Health), Corebridge Financial (formerly AIG), Foresters Financial, Gerber Life, Prosperity Life Group, and others often provide similar or identical coverage amounts and benefit structures (level or graded) at significantly lower monthly premiums.
• Underwriting Niches: Different companies have different “sweet spots” in underwriting. Some may be more lenient towards specific health conditions (like diabetes, COPD, or past heart issues) and might offer a level death benefit where Lincoln Heritage (or another carrier) might only offer a more expensive graded benefit or an outright decline. An independent agent knows these niches.
• Coverage Options: While Lincoln Heritage focuses tightly on lower face amounts typical for final expenses, other carriers offering simplified issue whole life may provide options for higher coverage amounts ($50,000, $100,000, or more) if needed.
• Riders and Features: Competitors might offer different policy riders, such as accidental death benefit riders, child riders, or accelerated death benefits for chronic or critical illness, which may or may not be available or comparable with Lincoln Heritage policies.
• Bundled Services: Most competitors focus solely on providing the life insurance benefit without bundled services like FCGS. This often translates into lower overhead and potentially lower premiums for the consumer.

Consider this hypothetical scenario: A 65-year-old non-smoker male seeks $15,000 in level (day-one) final expense coverage.

• Company A (like Lincoln Heritage) might quote $95/month and include a funeral planning service.
• Company B (another top carrier) might quote $70/month for the identical insurance coverage, without the bundled service.
• Company C (yet another top carrier) might quote $75/month but offer slightly more favorable underwriting for a specific minor health condition.

Without comparing, the applicant might only see the quote from Company A and assume it’s standard. However, working with an independent agency like Insurance By Heroes reveals that Company B offers substantial savings for the same core insurance benefit. Company C might be the best choice if that specific health condition is a factor. This comparison process, tailored to your individual health and financial situation, is the cornerstone of finding true value.

At Insurance By Heroes, our team’s background in service means we prioritize finding the *right* solution for you, not just selling a policy. We leverage our access to dozens of carriers to find the optimal intersection of coverage, price, and underwriting favorability for your specific circumstances.

Understanding Burial Insurance Underwriting: Level vs. Graded Benefits

Since Lincoln Heritage primarily uses simplified issue underwriting, it’s essential to understand the potential outcomes based on your health:

• Level Death Benefit:** This is the ideal outcome. It means your beneficiaries receive the full policy face amount from the very first day the policy is in force, regardless of whether death is due to accident or natural causes. Generally, applicants in good or average health with well-managed common conditions (like controlled high blood pressure or cholesterol) can qualify for level benefits from many carriers.
• Graded Death Benefit:** This is offered to applicants with more significant or multiple health issues (e.g., recent cancer treatment, current heart failure, oxygen use for COPD, diabetic complications). Policies with graded benefits have a waiting period, typically the first two years the policy is active.
  • If death occurs due to natural causes (illness) during the graded period, the beneficiaries do not receive the full face amount. Instead, they usually receive a return of all premiums paid into the policy, plus a certain percentage of interest (commonly 10%, but it varies by company and state). Lincoln Heritage often offers a 30% interest rate in their graded product.
  • If death occurs due to an accident at any time, even during the graded period, the full face amount is typically paid out.
  • After the graded period ends (e.g., on day 731 for a two-year graded period), the full face amount becomes payable for death from any cause.

• Guaranteed Issue:** For individuals with very severe health conditions who may not qualify for even graded benefit simplified issue policies, guaranteed issue is an option. No health questions are asked. However, premiums are significantly higher, coverage amounts are usually lower (often maxing out around $25,000), and they *always* have a graded death benefit period (typically 2 or 3 years). Lincoln Heritage does not primarily focus on guaranteed issue, concentrating on simplified issue which requires health questions.

Why This Matters with Lincoln: Your answers to Lincoln Heritage’s health questions will determine if you are offered a level benefit, a graded benefit, or potentially declined coverage. Critically, another insurance carrier might view your same health history more favorably and offer a level benefit when Lincoln offers graded, or offer a graded benefit at a lower price. This is impossible to know without comparing. Insurance By Heroes specializes in navigating these underwriting differences across multiple companies to find the best possible offer for your health profile.

The Cost Factor: Why Might Lincoln Burial Insurance Be Priced Higher?

Several factors likely contribute to Lincoln Heritage policies often being more expensive than those from competitors:

• Advertising Costs: Lincoln Heritage invests heavily in television commercials and direct mail campaigns. These significant marketing expenses are ultimately factored into the premiums consumers pay.
• Bundled Service Costs: The provision of the FCGS membership is not free for Lincoln Heritage to operate or partner with. The cost associated with this service is likely built into the insurance premium structure.
• Commission Structure: While agent commissions are standard in insurance, the specific structure and amounts can influence pricing.
• Target Market Underwriting: While they use simplified underwriting, their broad marketing approach might attract a pool of applicants with varied health profiles, potentially leading to pooled risk calculations that influence overall pricing.

It’s crucial for consumers to understand that a higher price does not necessarily correlate with better quality insurance coverage or a higher likelihood of claims being paid (all reputable life insurance companies are legally obligated to pay valid claims). Often, the core insurance protection offered by less expensive competitors is identical. Paying a significantly higher premium primarily for a bundled service like FCGS requires careful consideration of whether that service holds sufficient value for you personally. Insurance By Heroes helps you look past the marketing and focus on securing the most cost-effective, high-quality insurance protection available from highly-rated carriers.

Who Should Consider Lincoln Burial Insurance?

Lincoln Heritage’s Funeral Advantage program might appeal to certain individuals:

• Those who place a very high value on the specific funeral planning and potential negotiation services offered by FCGS and are willing to potentially pay a higher premium for this bundled feature.
• Individuals who have received direct marketing materials and prefer the convenience of working with the agent who contacted them (though comparison is still advised).
• Applicants prioritizing a well-known brand name specifically focused on final expense insurance, though many equally reputable (or even higher-rated) companies offer competing products.

However, even if these points resonate, comparison shopping is strongly recommended. Before committing to Lincoln Heritage, it is prudent financial practice to see what other options are available. You might find identical or better coverage for significantly less money elsewhere, or you might discover a carrier that offers a level benefit when Lincoln might only offer graded for your health profile. An independent agency is the best resource for this comparison.

The Insurance By Heroes Advantage: Why Choose an Independent Agency?

Navigating the complexities of burial insurance, understanding underwriting nuances, and comparing costs across multiple carriers can be overwhelming. This is where working with an independent agency like Insurance By Heroes provides significant advantages:

• We Work For You: Unlike captive agents who represent a single company (like Lincoln Heritage or State Farm), we are independent brokers. Our loyalty is to you, our client. Our goal is to find the best possible solution for your needs from the entire market we have access to.
• Access to Dozens of Carriers: We partner with numerous top-rated insurance companies offering final expense and burial insurance. This broad access allows us to conduct thorough market comparisons to find the most competitive rates and suitable policies.
• Expertise and Guidance: Our team understands the intricacies of life insurance underwriting. We know which carriers are more favorable for specific health conditions and can guide you towards the options most likely to offer level benefits at the best price.
• Service-Oriented Approach: Founded by individuals with backgrounds in first response and military families, Insurance By Heroes operates with a commitment to integrity and service. We understand the importance of dependable protection and strive to treat every client with respect and dedication, ensuring you understand your options fully.
• Personalized Solutions: We take the time to understand your specific needs – your budget, health situation, and desired coverage amount – before recommending any product. We tailor our search to find policies that genuinely fit your circumstances.
• Save Time and Money: Instead of you contacting multiple companies individually for quotes, we do the legwork for you, presenting you with the best options available from our wide network of carriers, saving you both time and potentially significant amounts of money on premiums.

Finding the Right Burial Insurance Policy for You

Securing the right burial insurance involves a few key steps:

1. Assess Your Needs: Calculate the approximate cost of your desired funeral arrangements, outstanding medical bills, small debts, and any other expenses you want the policy to cover.
2. Determine Your Budget: Decide how much you can comfortably afford for monthly premium payments.
3. Be Honest About Your Health: Provide accurate information about your health history. This allows your agent to identify carriers most likely to offer the best rates and benefit structures (level vs. graded).
4. Work with an Independent Agent: Partnering with an agency like Insurance By Heroes gives you the advantage of choice and expert guidance.
5. Compare Quotes Carefully: Review the coverage amount, premium cost, death benefit structure (level or graded), any waiting periods, and the financial strength ratings of the insurance companies being considered.

Get Your Personalized Burial Insurance Comparison Today

Choosing burial insurance is an important decision that provides lasting peace of mind. While Lincoln Heritage’s Funeral Advantage program is a well-known option, it’s just one piece of a much larger puzzle. Due to potential cost differences and varying underwriting standards, comparing it against offerings from other top-rated carriers is essential to ensure you’re getting the best value and the right coverage for your unique situation.

Don’t settle for the first offer you see or assume a familiar name guarantees the best deal. Let the dedicated team at Insurance By Heroes put their expertise and market access to work for you. As an independent agency founded on principles of service and integrity, we are committed to helping you navigate your options and secure affordable, reliable final expense coverage.

Ready to see how Lincoln Heritage stacks up against dozens of other leading burial insurance providers? Take the first step towards securing peace of mind for your loved ones. Fill out the secure quote form on this page right now. You’ll receive a free, no-obligation comparison tailored specifically to your needs and budget. Let Insurance By Heroes help you find the protection you deserve.