Final expense Lincoln Heritage are a type of life insurance policy that offers coverage for funeral, cremation, and end-of-life expenses. Often referred to as final expense insurance, funeral insurance for seniors or whole life insurance, these policies are easy to obtain and require no medical exam, unlike traditional term or index universal life insurance. However, these policies are not without their drawbacks.

For starters, Lincoln Heritage only offers one final expense insurance plan called Funeral Advantage. While this is a convenient option for individuals who want to avoid the hassle of a medical examination, it’s important to understand that this policy only offers minimal coverage, ranging from $20,000 to $15,000. Additionally, most providers offer more comprehensive protection through their products.

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In addition, Lincoln Heritage’s underwriting is quite restrictive for people with any preexisting health conditions. In most cases, if you have any health problems, you’ll be offered a modified plan that increases your rates and enforces a two-year waiting period. Compared to other final expense insurance options, this is unnecessarily expensive.

Another major drawback of Lincoln Heritage is that their policyholders are required to pay for membership in the Funeral Consumer Guardian Society (FCGS). While this service can be beneficial for some, it’s often included in premium pricing packages from other funeral insurance providers. For this reason, it’s important to thoroughly research and compare different final expense insurance providers in order to find the best policy for your unique needs.