A review of Lincoln Heritage Health Insurance Company finds Lincoln Heritage Life Insurance Company, a provider of final expense and pre-need insurance. Lincoln Heritage’s core client base consists of seniors, and the company currently has nearly half a million policies in force.
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Lincoln Heritage Life Insurance Company is a subsidiary of The Londen Insurance Group, based in Phoenix, Arizona. Founder Jack Londen began the business with Arizona Life Trust in 1963, and then acquired another 25 life insurance companies. He combined all of these acquisitions into Lincoln Heritage.
Lincoln Heritage Life Insurance Company Products
Lincoln Heritage’s final expense insurance is meant to help your loved ones with your final arrangements after you die, sparing them the grief of outrageous funeral costs and the pain of uncertain decisions. The Funeral Advantage Plan will pay up to $20,000 in cash to your family to help with funeral and cemetery expenses. To enroll, no physical exam is required. Most people will qualify for the Funeral Advantage Plan and the company promises that rates will remain the same for the life of the policy, as will benefits.
The company also offers two supplementary final expense insurance options: The Family Plan and The Accident Plan. The Family Plan provides low-cost final expense coverage for all members of your family, even children under the age of 18. The Accident Plan provides coverage for accidental death, as well as enhanced benefits for accidents due to automobiles, and terrorism acts, in addition to common carrier accidents.
Lincoln Heritage also processes Part A and Part B Medicare Supplement claims. Part A claims will be handled by a third-party administrator, aptly named Insurance Administrative Solutions, LLC. Part B claims are automatically filed with Lincoln Heritage when you show your Medicare Supplement ID card to your doctor or other covered healthcare provider.
Lincoln Heritage Life Insurance Company Funeral Planning Services
Another important service offered by Lincoln Heritage is its Funeral Planning information. The company endorses this “pre-need” coverage, which has you plan ahead for your death while you’re still healthy and mentally alert. This helps you determine how you want your final ceremony to be run, possibly reflecting your own unique style and character. This also saves your family the burden of having to figure out what you would have wanted and possibly saves your family from emotional disputes.
Lastly, the insurance eases the financial burden of end-of-life costs through a simple payment plan. These payments can help cover costs for:
- Funeral homes
- Acknowledgment cards
Lincoln Heritage partners with funeral homes to offer this pre-need program.
Lincoln Heritage Life Insurance Company Spanish Division
Lincoln Heritage launched its own Spanish-language Marketing Division at the company to address the growing need within the Hispanic community for Spanish-language insurance products. The special division offers the company’s Final Expense insurance fully in Spanish–from its applications to its claims, policies, and service forms. Lincoln Heritage’s Spanish-speaking staff members help provide funeral planning advice as well.
This Spanish-language program is proving to be quite successful. At the end of 2010, the company had 26,000 policies in this division, accounting for $13 million in premium payments.
Lincoln Heritage Life Insurance Company Ratings
Lincoln Heritage enjoys a rating of “A-” (Excellent) from the A.M. Best Company for its financial strength, as well as a Stable outlook. A.M. Best has also given the company a long-term rating of “a-” for its issuer credit. Lincoln Heritage has been accredited with the Better Business Bureau since 1981, and currently enjoys a rating of “A+” from the BBB. Although there have been complaints filed against the company, they were either resolved with the assistance of the BBB or the BBB felt that the company made a good faith effort to resolve them.
Lincoln Heritage Life Insurance Company Careers
If you are interested in working at the company’s home office in Phoenix, Arizona, you can either submit your resume via fax at 602-224-2248 or via email at [email protected]. It is unclear what positions they have open at this time.
If you are interested in working with Lincoln Heritage as an agent, there is an online form that you can fill out and submit. The company states that it offers its agents:
- Proven lead system
- Insurance benefits for agents and their families
- Live helpline
- Incentive trips
- Quick claim service
- 24-hour underwriting services
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