Our honest take on Lincoln Heritage
Lincoln Heritage Life Insurance Company has been in business since 1963 and serves over one million policyholders. They are financially stable, licensed in all 50 states, and they pay claims. On those fundamentals, there is nothing wrong with Lincoln Heritage.
The problem is price. As an independent broker who works with 10+ A-rated carriers and runs comparison quotes every day, we see the same pattern constantly: a senior calls us after buying Lincoln Heritage, realizes they are paying $40–$80 per month more than they needed to, and wants to know if they can switch. Sometimes they can. Sometimes the contestability period makes it complicated. The point is that this overpayment was entirely avoidable with one independent broker comparison call.
This review is not about whether Lincoln Heritage is a scam. It is not. It is about whether Lincoln Heritage is a good deal — and on that question, the numbers speak for themselves.
LL
From Larry La Spina — Licensed Independent Broker
NPN #21598508 • Licensed in 49 states • 10+ A-rated carriers
I get calls every week from people who saw a Lincoln Heritage ad, called the number, got a quote, and are now asking me if that price is normal. In almost every case I can find them the same coverage for 30–50% less — often with better underwriting. The frustrating part is that the Lincoln Heritage agent they spoke with genuinely could not give them a comparison. It is not that the agent was dishonest. The structural problem is that captive agents are not allowed to. Call me before you call Lincoln Heritage: (754) 800-1152.
The rate comparison: what the same money actually buys
These are real 2026 rates for a $15,000 level benefit policy. Lincoln Heritage rates are from their published schedule. Independent broker alternatives are from carriers we actively place business with. All figures are for non-smokers in average health qualifying for immediate coverage (no waiting period).
| Age & Gender | Lincoln Heritage | Mutual of Omaha | American Amicable | Royal Neighbors | Monthly savings |
|---|
| Female, age 55 | $67/mo | $40/mo | $42/mo | $38/mo | $27–$29/mo |
| Female, age 60 | $81/mo | $47/mo | $50/mo | $45/mo | $31–$36/mo |
| Female, age 65 | $99/mo | $58/mo | $62/mo | $56/mo | $37–$43/mo |
| Female, age 70 | $131/mo | $76/mo | $80/mo | $74/mo | $51–$57/mo |
| Female, age 75 | $175/mo | $103/mo | $109/mo | $100/mo | $66–$75/mo |
| Male, age 55 | $88/mo | $52/mo | $56/mo | $50/mo | $32–$38/mo |
| Male, age 60 | $108/mo | $62/mo | $66/mo | $60/mo | $42–$48/mo |
| Male, age 65 | $132/mo | $76/mo | $82/mo | $74/mo | $50–$58/mo |
| Male, age 70 | $174/mo | $100/mo | $108/mo | $98/mo | $66–$76/mo |
| Male, age 75 | $232/mo | $137/mo | $148/mo | $134/mo | $84–$98/mo |
✖ Every single row in this table shows Lincoln Heritage as the most expensive option. Not by a small margin — by 37–73%. A 75-year-old male pays $95/month more with Lincoln Heritage than with Royal Neighbors for identical $15,000 level benefit coverage. Over 10 years, that is $11,400 in unnecessary overpayment.
The 10-year cost of choosing Lincoln Heritage
The monthly difference understates the real cost. Because final expense is whole life insurance — a policy designed to be held for life — the premium gap compounds over years into a very large number.
65-year-old female — $15,000 coverage — 10-year comparison
Lincoln Heritage monthly premium$99/month
Lincoln Heritage 10-year total paid$11,880
Mutual of Omaha monthly premium (same $15K level benefit)$58/month
Mutual of Omaha 10-year total paid$6,960
10-year overpayment for choosing Lincoln Heritage$4,920 wasted — same $15,000 death benefit either way
75-year-old male — $15,000 coverage — 10-year comparison
Lincoln Heritage monthly premium$232/month
Lincoln Heritage 10-year total paid$27,840
Royal Neighbors monthly premium (same $15K level benefit)$134/month
Royal Neighbors 10-year total paid$16,080
10-year overpayment for choosing Lincoln Heritage$11,760 wasted — same $15,000 death benefit either way
What is the FCGS — and what does it actually cost you?
The Funeral Consumer Guardian Society is the centerpiece of Lincoln Heritage’s marketing. It sounds substantial — a “guardian society” that helps your family plan a funeral and find the best prices. Lincoln Heritage heavily implies this service is unique and valuable enough to justify their premium pricing.
Here is what the FCGS actually provides:
FCGS: What it is vs. what Lincoln Heritage implies
✓
What it does: Phone call to help find a funeral homeAfter death, an FCGS representative contacts your family to help locate a funeral home in your area and compare prices between providers. This is a concierge phone call — helpful in a stressful moment, but not irreplaceable.
✓
What it does: Help recording your final wishes in advancePolicyholders can document funeral preferences in advance through the FCGS portal — burial vs. cremation, service preferences, readings. A useful organizational tool.
✗
What it does NOT do: Pay any funeral costsThe FCGS is not insurance and pays nothing toward funeral expenses. The death benefit from the policy pays for the funeral. The FCGS is a coordination service, not a financial benefit.
✗
What it does NOT do: Guarantee prices or negotiate discountsFCGS helps you compare funeral home prices that are publicly available. It does not negotiate special rates, guarantee discounts, or have purchasing power with funeral homes. You could replicate this with a 20-minute Google search and three phone calls.
✗
What it does NOT do: Eliminate the need for your family to make decisionsYour family still selects the funeral home, chooses the service, and handles all arrangements. The FCGS representative advises and coordinates — they do not manage the process.
The real cost of the FCGS — what you actually pay for it
Monthly premium overpayment vs. Mutual of Omaha (female, age 65)$41/month extra
Annual overpayment for the FCGS$492/year
Overpayment over 10 years for the FCGS$4,920
What a funeral home price comparison service costs independently$0 — FuneralWise.com, Parting.com, or 3 phone calls
What you pay for the FCGS over the life of a typical policy$4,920–$11,760 in excess premiums for a service worth ~$0 out-of-pocket
⚠ Lincoln Heritage claims the FCGS is exclusive and not available anywhere else. That is literally true — the FCGS branding belongs to Lincoln Heritage. But the service it provides (funeral home comparison shopping and coordination) is available free through multiple online tools and from any independent funeral planning service. The brand is exclusive. The value is not.
The captive agent trap: why you structurally cannot get a fair quote from Lincoln Heritage
Lincoln Heritage sells exclusively through captive agents — licensed insurance professionals who represent one and only one carrier. This is not unusual in insurance; many major companies use this model. But it creates a specific problem for final expense shopping that most seniors don’t recognize before it’s too late.
⚠ What happens when you call Lincoln Heritage directly
1
You get a captive agentThe person who answers is a licensed Lincoln Heritage agent. They are good at their job. They are not dishonest. But they are legally and contractually permitted to sell you one product: the Funeral Advantage policy.
2
They cannot show you alternativesIf Mutual of Omaha would give you the same coverage for 40% less, the Lincoln Heritage agent cannot tell you that. It is not that they won’t — they literally cannot. Showing competing rates would be a violation of their agency agreement.
3
You have no reference pointWithout a comparison, Lincoln Heritage’s rates feel reasonable. You don’t know that $99/month is above market because you have nothing to compare it to. This is the structural advantage of the captive model.
4
An independent broker changes the entire equationAn independent broker works with multiple carriers and is legally required to place you with the carrier best suited to your needs. The moment you call an independent broker, the structural information asymmetry disappears. You see all options. Lincoln Heritage rarely wins that comparison.
The Modified Plan trap: what happens if you have health conditions
Lincoln Heritage offers two coverage tiers: their standard immediate coverage plan, and the “Modified Plan” for applicants with certain health conditions. What makes Lincoln Heritage’s Modified Plan particularly harmful is how many common senior health conditions trigger it, and how much it costs compared to better alternatives elsewhere.
The conditions below trigger Lincoln Heritage’s Modified Plan — meaning a 2–3 year waiting period and substantially higher premiums. The right column shows what that same person qualifies for with an independent broker:
Lincoln Heritage: Modified Plan
Diabetes (any type)
LH puts all diabetics on Modified Plan with 2–3 year wait and premiums 25–40% higher than their standard plan. A 65-year-old diabetic female might pay $135+/month.
Independent broker: Level benefit available
Diabetes → Level benefit at Am. Amicable
American Amicable and Royal Neighbors offer level benefit (day-one coverage, no wait) to diabetics for approximately $68–$78/month at age 65. No waiting period. Same death benefit.
Lincoln Heritage: Modified Plan
COPD / Emphysema
COPD patients without oxygen typically land on the Modified Plan at Lincoln Heritage — graded benefit, 2–3 year wait, elevated premium.
Independent broker: Level benefit available
COPD → Preferred rate at Transamerica
Transamerica and Royal Neighbors offer preferred rate level benefit for qualifying COPD patients. Full coverage from day one, no wait, at $68–$78/month at age 65.
Lincoln Heritage: Modified Plan
Heart attack / bypass < 2 years ago
Recent cardiac events trigger the Modified Plan. Lincoln Heritage’s Modified Plan has a 2–3 year waiting period at significantly elevated rates.
Independent broker: Better options exist
Recent cardiac → Graded at Transamerica
Transamerica’s graded benefit often beats Lincoln Heritage Modified Plan pricing for recent cardiac events. CHF patients: Transamerica may offer level benefit outright.
Lincoln Heritage: Modified Plan
Cancer history < 2 years remission
Cancer treatment within 24 months triggers the Modified Plan. Lincoln Heritage charges significantly elevated premiums for their graded benefit tier.
Independent broker: Often cheaper same tier
Recent cancer → GI at AIG/Corebridge
AIG/Corebridge guaranteed issue often beats Lincoln Heritage’s Modified Plan pricing for the same 2-year wait structure. Survivors in 2+ year remission may qualify for level benefit at American Amicable.
Lincoln Heritage: Often declined or Modified
Stroke / TIA < 2 years ago
Recent neurological events are treated conservatively by Lincoln Heritage, often resulting in Modified Plan or decline.
Independent broker: Graded available
Recent stroke → Graded at Transamerica
Transamerica evaluates stroke history case-by-case and offers graded benefit at competitive rates. Better pricing than Lincoln Heritage Modified Plan.
✖ The Modified Plan doubles the problem. You’re paying Lincoln Heritage’s above-market premium AND you have a 2–3 year waiting period. At independent broker alternatives, the same health profile often qualifies for either level benefit (no wait at all) or graded benefit at a lower premium than Lincoln Heritage’s Modified Plan. The Modified Plan is rarely the best available option for any health condition.
Does your health condition put you on Lincoln Heritage’s Modified Plan?
In most cases, we can find you a better tier — or the same tier at a lower premium — from our network of 10+ A-rated carriers. 10 minutes, free, no obligation.
See What I Actually Qualify For →
The “24-hour claims” promise — what it actually means
Lincoln Heritage prominently markets a 24-hour claims payment promise. Here is the reality: no insurance company in the United States can legally pay a death claim within 24 hours. A death certificate must be filed, verified, and submitted alongside a completed claims package. The realistic earliest a payment can be issued is 48–72 hours after all required documentation is submitted — typically 3–10 days after the date of death. This timeline is comparable to every other final expense carrier. It is a marketing claim, not a differentiated operational capability.
The three situations where Lincoln Heritage is not the worst option
We believe in intellectual honesty. There are narrow scenarios where Lincoln Heritage makes some sense.
1
You’ve been declined everywhere else and Modified Plan is your only non-GI option
If your health profile has been declined by multiple simplified issue carriers and Lincoln Heritage’s Modified Plan is better than guaranteed issue on pricing, it may be worth considering. But have an independent broker verify this first — AIG/Corebridge GI often beats Lincoln Heritage Modified Plan pricing anyway.
2
You’re already enrolled and switching creates a contestability risk
If you’ve had a Lincoln Heritage policy for less than 2 years and your health has since changed, switching carriers could restart the contestability clock. In some health situations, staying put makes sense. Call an independent broker to evaluate this case specifically.
3
You specifically value the FCGS funeral coordination — and have the budget
If you genuinely value a single-point-of-contact funeral coordination service and are comfortable paying $40–$80/month above market for it, Lincoln Heritage delivers a real product. We think that’s a poor tradeoff, but it is a real tradeoff — not a scam.
Lincoln Heritage vs. the alternatives: full comparison
| Factor | Lincoln Heritage | Mutual of Omaha | American Amicable | AIG/Corebridge (GI) |
|---|
| Price vs. market | 30–50% above | Market-best for healthy | Competitive, lenient UW | Higher (GI pricing) |
| Diabetics | Modified Plan only ⚠ | Graded only ⚠ | Level benefit ✓ | GI (no questions) |
| COPD | Modified Plan | Limited | Conditional | GI available |
| CHF | Modified Plan | GI only | Graded | GI (no questions) |
| Funeral planning service | FCGS included | None bundled | None bundled | None bundled |
| Agent model | Captive only ⚠ | Independent brokers | Independent brokers | Independent brokers |
| Max coverage | $35,000 | $50,000 | $50,000 | $25,000 |
| A.M. Best | A- | A+ | A- | A |
| Buy online? | No — agent required | Through broker | Through broker | Some options |
Frequently asked questions
Is Lincoln Heritage Funeral Advantage worth it?
For most seniors, no. Rates run 30–50% above what an independent broker can find for equivalent level benefit coverage. A 65-year-old female pays approximately $99/month at Lincoln Heritage versus $58/month at Mutual of Omaha for the same $15,000 in coverage — a $492/year difference that compounds to nearly $5,000 over a decade. The FCGS service does not justify this gap. If you’ve already received a Lincoln Heritage quote, call us at (754) 800-1152 before applying.
What does the FCGS (Funeral Consumer Guardian Society) actually do?
The FCGS is a funeral planning coordination service included with all Lincoln Heritage policies. After a policyholder dies, an FCGS representative contacts the family to help locate a funeral home and compare prices. It does not pay any funeral costs. It does not guarantee discounts or negotiate special rates. The same price comparison can be done with free online tools like Parting.com or FuneralWise.com.
Why are Lincoln Heritage rates so much higher than competitors?
Two structural reasons. First, Lincoln Heritage spends heavily on direct mail, television advertising, and captive agent commissions — costs embedded in their premium pricing. Second, the captive agent model means there is no competitive pressure pushing rates toward market. Independent broker alternatives compete for business across multiple carriers, which drives pricing down.
What is the Lincoln Heritage Modified Plan?
The Modified Plan is Lincoln Heritage’s graded benefit product for applicants with certain health conditions. It has a 2–3 year waiting period and premiums that run 25–40% higher than their standard immediate plan. Many conditions that trigger it — diabetes, COPD, recent cardiac events — qualify for level benefit coverage with no waiting period at independent broker alternatives.
Is Lincoln Heritage a legitimate company?
Yes. Lincoln Heritage is legitimate, licensed, founded in 1963, A- AM Best rated, and pays claims reliably. The issue is not legitimacy. The issue is value: the same death benefit is available for 30–50% less per month from independent broker alternatives with comparable or superior financial strength ratings.
What is the best alternative to Lincoln Heritage?
It depends on your health. For healthy, non-diabetic seniors:
Mutual of Omaha consistently beats Lincoln Heritage by 30–50% with a stronger A+ AM Best rating. For diabetics: American Amicable and Royal Neighbors offer level benefit that Lincoln Heritage forces onto its Modified Plan. For COPD: Transamerica offers preferred rate level benefit. For complex health histories: AIG/Corebridge guaranteed issue. An independent broker compares all options at no cost.
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