Wednesday, May 22, 2024

Funeral Advantage Program Aids Seniors Reviews

Mutual Of Omaha Has High Coverage Amounts And A Terminal Illness Rider

Funeral Advantage Cash Benefit Program Aids Seniors

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Burial insurancealso referred to as senior life insurance and final expense insuranceis a whole life insurance policy intended to cover funeral costs and other modest expenses when you die. The death benefit is usually under $50,000, and you can typically get approved without a medical exam. Though some policies may require you to answer questions about your health, others dont. Those are guaranteed-issue policies, which means that as long as you fit the age requirements, youll get coverage, regardless of any health issues.

Final expense policies are best suited for people with health issues that would keep them from being approved for a policy that requires a medical exam. While the low coverage amounts may keep burial insurance premiums affordable, these policies are actually more expensive per dollar of death benefit than policies that require an exam.

To determine the best burial insurance companies, we reviewed 91 life insurance companies and found 28 that offer it. To determine the best among those, we looked at financial strength, history of customer complaints, coverage maximums, graded benefit periods, and ease of application.

What Rider Options Are There With Funeral Advantage

Lincoln Heritage Funeral Advantage has two additional riders you can select as part of your final expense life insurance coverage. Both are clearly listed on the application for you to choose from, not hiding behind an agent. The cost of these riders will be added to your total monthly insurance premiums and will provide additional death benefits when claims are processed.

What Is Final Expense Insurance

Final expense insurance is also called burial insurance, funeral insurance, and sometimes called burial life insurance.

Simply put, final expense insurance is a whole life insurance policy designed to cover someones funeral costs or final expenses at the time of their passing.

Final life expenses most often include funeral expenses, medical bills, and any other expenses that your beneficiary wishes to pay. Most final expense insurance policies are smaller amounts ranging from $5000 to $50,000 in coverage. This makes them much smaller and different from other life insurance policies however, they offer the same peace of mind that your family and the people you care about will not be strapped with the additional cost of a traditional funeral at the end of your life.

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Free Life Insurance Comparison

Jeff is a well-known speaker and expert in life insurance and financial planning. He has been featured and quoted in Nerdwallet, Bloomberg, Forbes, U.S. News & Money, USA Today, and other leading finance websites.He is a licensed life insurance agent and has helped over 3000 people secure life insurance. He is licensed in all 50 states & DC.Jeff has spoken at top insurance conferen…

Written byJeff Root Licensed Life Insurance Agent

Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms literally on the frontline of journalism.

Former Licensed Life Insurance Agent

Lincoln Heritage Insurance Agents Are Captive

Lincoln Heritage Funeral Advantage Program

The agencies that partner with Lincoln Heritage are captive. There are a few significant differences between captive and independent agencies.

Captive: Lincoln Heritage insurance agencies can only sell products from Lincoln Heritage.

Independent: This type of agency is allowed to be contracted with multiple life insurance companies. By having flexibility, independent agencies are not tied to a specific carrier and can compare various policies to determine which best meets the customers needs.

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Sagicor Life: Sage Whole Life

Best for Quick Application

Sagicor Life is one of the best-rated insurance companies in the country. The companys Sage Whole Life policy is a comprehensive plan that builds cash value. Similar plans typically require applicants to have a phone interview with an agent. But Sagico uses an innovative Accelewriting® process thats able to give you a decision in minutes, earning the policy a place on our list.

Eligible Ages


The policy is available without a medical exam for people living in qualifying states between the ages of 18 65 in amounts between $25,000 $250,000. While the cutoff age for qualification is younger with this policy than it is on others, its still a notable option for younger applicants who are interested in obtaining higher amounts of coverage. Most other no-exam whole life options do not have options for this much coverage. However, applicants of any age can still obtain coverage. For applicants over the age of 65, the process is fully underwritten and will require more health questions and interviews with agents.

Plan Information

National Center For Victims Of Crime

This federal program has been mainly designed to help the victims of crime. The program offers compensation to the victims and also offers them medical services along with funeral costs. The state controls the program and has their own compensation policies. The program offers cash that fluctuates from $10,000 to $100,000 depending on the type of damage. However, there is a list of programs that can help you , if only you are eligible for it. The benefits differ from state to state and it is better to directly contact the giver number below. Contact:

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Aarp: Guaranteed Acceptance Life Insurance

Best Premium Payment Policy

AARP provides services to help aging Americans remain empowered and independent. Operating since 1958, the group makes life more enjoyable, and the world more accessible, for anyone over the age of 55. So while AARP isnt an insurance company itself, it has partnered with New York Life to provide a simple burial insurance option for members and their spouses. New York Life Insurance Company is the third-largest life insurance company in the United States and has been providing services since 1845.

This policy also offers a unique Paid-Up feature not found in many other burial insurance policies. With this feature, your premium payments end when you turn 95. But the coverage continues throughout the rest of your life, regardless of how long you live. Since health care costs tend to rise as we age, this is an appealing feature for saving some money on premiums later in life.

Eligible Ages
Premiums End at Age 95, but Coverage Continues


Plan Information

Lincoln Heritage Policy Riders

Funeral Advantage Program || Life Insurance Q/A || What Is Funeral Advantage Program?

Lincoln Heritage life insurance company offers a variety of add-ons and riders to provide additional benefits while alive, though these will increase your premiums more than youre paying.

  • Accidental death coverage is available for any accidents related to the car or truck you have with them at all times
  • child riders are included on many life insurance policies that cover both childrens hospitalization costs if needed
  • as well as dental care expenses after passing away due to age restrictions being met by most providers today without interruption from other family contesting over what should happen next regarding inheritance money etc.,
  • but theres also an Identity Theft Protection Plan which covers damages done when someone else steals something valuable containing personal information about oneself whether online banking records

But remember, you are paying much more already than competing life insurance companies.

In addition, some of these carriers will have add-on riders already built-in. Come On Mr. Lincoln Heritage, Price Gouge Much!

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How You Can Get Burial Insurance That Is Up To 80% Cheaper Than A Funeral Advantage Program

Hopefully you now realize how bad of a deal Funeral Advantage insurance is. Its crazy that they are anywhere from 20%-300% more expensive than other companies that sell the same insurance.

Now its time to find the best company for you and your family.

So heres the deal

Well show you a surefire way to find a burial insurance plan that covers you as soon as possible, and comes at the lowest rate on the market.

And you know what? Its super simple too!

To find your best final expense policy, you must consult with an INDEPENDENT final expense agency that represents at least 10 or more insurance companies. Have them evaluate your health, so they can compare offers from all the insurers they represent. Ultimately, theyll pair you with whichever carrier that offers you the best deal.

Now obviously, we are biased here when we recommend that you reach out to us to help you with this. Putting our bias aside, we literally are the most qualified agency online to help you with this.

We are independent, and we presently work with over 20 burial insurance companies. All we do is burial insurance, and have been doing so for years now. You will are dealing with truly impartial experts here.

But heres the kicker

Even if you dont work with us, as long as you work with an independent broker that can shop around for you, youll get a really good deal.

Whatever they find for you will surely be light years ahead of what Lincoln Heritage Funeral Advantage will offer you. Thats for sure.

Restrictions Of Funeral Advantage

There are only a few conditions that would cause you not to be eligible for Funeral Advantage. Among these are being HIV-positive, having AIDS, being diagnosed with a terminal illness, being incarcerated, hospitalized, or being on hospice care.

The only way to buy Lincoln Heritage insurance is through captive agents. These representatives do not offer life insurance from any other companies and cannot help you compare rates or features from multiple companies.

If you live in any of the following states, you will not be able to name a funeral home as your beneficiary under the Funeral Advantage program:

  • Florida
  • Texas
  • West Virginia

We recommend naming your friend or relative as your beneficiary rather than a funeral home if you trust them to handle your funeral. It is difficult to manage burial planning and associated costs during an emotional time. Still, if the total costs are less than your death benefit, your beneficiary can keep the rest of the payout.

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How Does The Funeral Advantage Program Assist Seniors Organizations Working

The funeral advantage program assists the seniors by minimizing their cost on their final rituals. It is mandatory to go through assessments that will help you in checking all of your assets. However, after the assessments they give a final decision whether you can afford paying for the funeral.The insurance company provides you all the basic information that helps you to understand your funeral expenses. However, they also investigate your savings and other investments. Their main focus is to find a way that will help in saving your money by finding affordable funerals. They do not provide you with monetary help rather they find ways to save most of your money that will be incurred on funerals.

They might not help you with funds but they can save more than $10000 on the funeral process. However, they also provide plans for moderate and poor families. The plan is designed in such a way that anybody can afford it. It is observed there are few non-profit organizations that help families by covering their funeral expenses. You can also research online and find some local communities near you that are offering help to the families to cover up their funeral costs.

Lincoln Heritage Background And Company Profile

Lincoln Heritage Funeral Advantage Program

Started in 1981 and headquartered in Phoenix, Arizona, Lincoln Heritage is unlike most insurance companies. They are family-owned and operated and they have a unique business model which gives them a lot of freedom to be versatile in the industry. Since they dont have to answer to stakeholders, they prioritize customers the most. They make sure each customer is given proper attention to their needs and given the right service.

Due to their outstanding customer service, they have earned an A+ Review on BBB Rating. They pride themselves in their values of respect and dignity. Overall, they want to provide their clients with the most coverage so they can have peace of mind.

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How Funeral Advantage Assists Seniors

Seniors are one of the most under-served age groups in the life insurance industry. Most life insurance companies focus on selling term insurance to younger age groups because the premiums are higher making them more money. Most seniors dont need term insurance. They need something that will help cover their end-of-life expenses like funeral costs and any medical bills they leave behind. But qualifying can be challenging, especially if youve had health issues.

Thats why Funeral Advantage was created. Funeral Advantage from Lincoln Heritage Life Insurance Company assists seniors and their loved ones by helping them plan and pay for their final wishes. With low rates starting at just $15 a month, Funeral Advantage is an affordable whole life insurance policy that helps families when they need it most.

Upon a Funeral Advantage member’s death, there are literally hundreds of decisions to be made by the surviving loved ones some potentially very costly. The Funeral Consumer Guardian Society immediately goes into action to help those in charge of funeral arrangements cope with the many details that immediately arise. With Funeral Advantage from Lincoln Heritage, everything can go as smoothly as possible for your loved ones during a time of intense emotions and stress.

What Should You Know About Lincoln Heritage Underwriting

All Funeral Advantage insurance policies are underwritten by Lincoln Heritage Life Insurance Company and its insurance agents. The overview below includes questions taken directly from the Lincoln Heritage Life Insurance application.

Lincoln Heritage does offer tobacco rates and non-tobacco rates on their final expense plan. Here is how the question reads on their application:

-Has the proposed insured used any form of tobacco in the past 12 months?

Unfortunately, this includes all forms of tobacco including cigars, chew, e-cigarettes and pipes. So, you can expect to pay higher premiums for using tobacco, but that is to be expected with any life insurance product.

Lincoln Heritage also has two knockout questions on their insurance applications that you have to answer NO to or you will be turned down for coverage. This is not ideal however, these simple health questions make Funeral Advantage more accessible to people with health issues, as you dont have to go through any health exams. The questions are listed as Uninsurable Conditions on their application:

-Has the proposed insured been diagnosed, by a physician, with a terminal illness or AIDS ?

-Is the proposed insured currently incarcerated, hospitalized, in a care facility, or receiving hospice care?

If you can answer NO to the two questions above, you will qualify for immediate coverage or their modified plan.

Here are the Significant Health Conditions questions as they are listed on their application:

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Best For Financial Stability: State Farm Life Insurance

  • AM Best Rating:AM Best is a credit rating agency that assigns insurance companies a letter grade from A++ to F. A companys grade indicates its ability to pay its claims and honor its financial obligations.A++
  • Accepts Credit Cards:Yes
  • No. 1 for customer satisfaction

  • Very few customer complaints relative to its size

  • Policyholders are eligible for dividends

  • Maximum $10,000 death benefit

  • Must apply with an agent

State Farm is a powerhouse of a life insurance company. It received an A++ financial strength rating from AM Best, which is the highest grade possible. That means the credit rating agency thinks State Farm has a superior ability to honor its insurance obligations, including paying claims. Plus, State Farm was the top-ranked company for customer satisfaction in J.D. Powers 2021 U.S. Individual Life Insurance Study, beating out both Nationwide and Mutual of Omaha which are also on this list. Unsurprisingly, the company has received very few customer complaints over the past few years, according to NAIC data. We should also mention that its final expense policies are eligible to earn dividends.

So why isnt it our top pick for best burial insurance company? Because the only coverage amount available is $10,000thats half as much as what TruStage offers and one-fifth the amount you can apply for with Nationwide. Plus, you cant get coverage onlineyoull need to talk to an agent to apply.

Aig Direct: Guaranteed Issue Whole Life Insurance

Funeral Consumer Guardian Society® Reviews

Best for Seniors on a Budget

In business since 1919, AIG is one of the most experienced insurance companies in the world. The company provides an array of insurance services throughout 80 countries, ranging from life insurance, property insurance, as well as retirement and financial services. This guaranteed issue policy makes our list for being an affordable option from an industry leader, with lower premiums than you would find from comparable providers.

Eligible Ages
Never Expires


To qualify for AIGs Guaranteed Issue Whole Life Insurance Policy, you must be between the ages of 50 and 80. The budget-friendly premiums make it a great option for seniors who want to get coverage from an industry leader, but cant afford some of the more expensive options that are available on the market. The simplified application process does not require a medical exam and no health questions are asked, so youll be approved even if you have a health history that has prevented you from getting coverage with other policies and companies.

Plan Information

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