Lincoln Heritage Life Insurance Company, Illinois: Overview, Contacts, Services, Finances, Coverage, Claims, Compliance, Renewal & Cancellations, Reviews

Lincoln Heritage Life Insurance Company: Your Trusted Partner in Financial Security and Peace of Mind.

An image illustration of Lincoln Heritage Life Insurance Company
Lincoln Heritage Life Insurance Company: Protecting Families and Providing Peace of Mind.

Are you looking for a reliable and affordable life insurance company in Illinois?

If so, you might want to consider Lincoln Heritage Life Insurance Company, one of the leading providers of final expense insurance in the nation.

In this blog post, we will review Lincoln Heritage Life Insurance Company Illinois and give you some insights into their:

History, products, services, financial details, coverage, claims, legal aspects, renewals, cancellations, company culture, and customer experiences.

By the end of this post, you will have a better understanding of what Lincoln Heritage Life Insurance Company Illinois can offer you and your loved ones.

Company Details

History and Founding Year:

Lincoln Heritage Life Insurance Company was founded by Jack Londen in 1963 with a vision to provide fast and easy final expense insurance to families in need.

Jack Londen was a natural salesman who started his career selling homegrown berries door to door during the Great Depression.

He later became a successful life insurance agent and decided to start his own company that would focus on helping people plan for their final arrangements.

CEO and Leadership Team:

Today, Lincoln Heritage Life Insurance Company is still family-owned and operated by Jack Londen’s sons, Mickey and Tom Londen.

They are the co-presidents and co-CEOs of the company, which has grown to become the largest final expense insurer in the nation with over 1 million policyholders.

Company Size and Market Share:

Lincoln Heritage Life Insurance Company has a market share of 19.8% in the final expense industry as of 20203 and employs over 10,000 agents across the country.

Basic Information

Here is some basic information about Lincoln Heritage Life Insurance Company Illinois that you might want to know:

Information Category Details
Phone Number (800) 438-7180
Address 4343 East Camelback Road Suite 400, Phoenix, AZ 85018
Customer Service Contact (800) 930-7459
Policy Details Final expense whole life insurance with face amounts ranging from $1,000 to $20,000
Email Address info@lhlic.com
Fax Number (602) 808-0523
Operating Hours Monday-Friday: 6:30 AM – 5:00 PM MST

Services & Products

The main benefits of final expense insurance are:

  • It provides peace of mind for your family by taking care of your final arrangements.
  • It has easy qualification with no medical exams and just a few health questions.
  • It has affordable monthly rates that fit your budget.
  • It has fast claims payment within 24 hours of approval.
  • It has cash value that grows over time and can be borrowed against

Lincoln Heritage Life Insurance Company offers two types of final expense insurance: Funeral Advantage and Lincoln Heritage Advantage.

Funeral Advantage

Funeral Advantage provides more than just a life insurance policy. It also includes:

  • A dedicated representative from the Funeral Consumer Guardian Society (FCGS), a non-profit organization that helps families save money on funeral costs
  • A free membership to the FCGS, which gives access to online funeral planning tools and resources
  • A personalized final wishes form that records your preferences for your funeral service
  • A family support card that gives your beneficiary a toll-free number to call when you pass away
  • A price protection certificate that guarantees that your policy will cover the average cost of a funeral in your area

Funeral Advantage has face amounts ranging from $1,000 to $20,000, depending on your age and health.

You can also add up to $100,000 in accidental death coverage for an additional cost.

Lincoln Heritage Advantage

It is designed for people who want more flexibility and customization in their final expense insurance. Lincoln Heritage Advantage allows you to:

  • Choose from three plan options: Level Benefit, Graded Benefit, or Modified Benefit
  • Adjust your coverage amount and premium payment frequency at any time
  • Add optional riders such as Accidental Death Benefit, Child Rider, or Waiver of Premium
  • Access online account management and customer service

Lincoln Heritage Advantage has face amounts ranging from $2,000 to $15,000, depending on your age and health.

You can also add up to $100,000 in accidental death coverage for an additional cost.

Financial Details

Here are some of the financial details that you should know about Lincoln Heritage Life Insurance Company:

Coverage Details

Here are some of the coverage details that you should know about Lincoln Heritage Life Insurance Company:

Some of the common policy exclusions are:

    • Suicide within the first two years of the policy
    • Death due to war or military service
    • Death due to illegal or criminal activities
    • Death due to alcohol or drug abuse
    • Death due to pre-existing conditions (only for Graded Benefit and Modified Benefit plans)
  • Coverage Limits:

Lincoln Heritage Life Insurance Company has some coverage limits that apply to their final expense insurance products.

Some of the common coverage limits are:

Some of the common add-ons or riders are:

    • Accidental Death Benefit: This rider pays an additional amount of money if you die as a result of an accident.
    • Child Rider: This rider covers your children or grandchildren under your policy until they reach age 25.
    • Waiver of Premium: This rider waives your premium payments if you become disabled and unable to work.

Claims

Here are some of the steps involved in the claim process:

The first step is to notify Lincoln Heritage Life Insurance Company of your death as soon as possible.

Your beneficiary can call their toll-free number or visit their website to report your death and start the claim process.

  • Submit Required Documents:

The second step is to submit the required documents for your claim.

These include:

    • A certified copy of your death certificate
    • A completed claim forms.
    • A copy of your policy
    • Any other documents requested by Lincoln Heritage Life Insurance Company
  • Receive Claim Payment:

The third step is to receive your claim payment from Lincoln Heritage Life Insurance Company.

Once they receive and approve your claim, they will send a check to your beneficiary within 24 hours.

Your beneficiary can use the money to pay for your funeral expenses and any other debts or obligations.

Legal & Compliance

You want to make sure that the company you choose follows the laws and regulations.

  • Privacy policy:

Some of the key points are:

    • They collect information from you when you apply for a policy, make a payment, file a claim or contact them for service.
    • They use your information to provide you with products and services, process transactions, communicate with you, prevent fraud and comply with legal obligations.
    • They share your information with their affiliates, agents, service providers, business partners and regulators as permitted or required by law.
    • They protect your information with reasonable security measures and limit access to authorized personnel only.
    • They respect your choices and rights regarding your information, such as opting out of marketing communications, accessing or correcting your information or filing a complaint.
  • Terms and conditions:

Some of the main points are:

    • You agree to abide by the terms and conditions when you access or use the website or any of their online services.
    • You are responsible for maintaining the security of your account and password and for any activities that occur under your account.
    • You grant them a license to use any content that you submit or post on the website or through their online services.
    • You agree not to use the website or online services for any unlawful, harmful, abusive, harassing, defamatory, infringing, deceptive or fraudulent purposes.
    • You agree to indemnify them from any claims, damages, losses or expenses arising from your use of the website or online services or your violation of the terms and conditions.

Renewal & Cancellation

Lincoln Heritage offers final expense insurance policies that are guaranteed renewable for life as long as you pay the premiums on time.

You do not need to renew your policy every year or go through any medical exams or underwriting.

Your premiums will remain level and will not increase due to age or health changes.

Your policy will also build cash value over time that you can borrow against if needed.

Lincoln Heritage does not charge any surrender fees or penalties if you decide to cancel your policy.

However, you may not receive a full refund of your premiums depending on when you cancel.

If you cancel within the first 30 days of your policy, you will receive a full refund.

If you cancel after the first 30 days, you may receive a partial refund or no refund at all.

You may also lose any cash value that has accumulated in your policy.

  • Grace periods:

Lincoln Heritage provides a grace period of 31 to 60 days for late payments.

The exact length of the grace period depends on the state where you live.

If you do not pay your premium before the grace period ends, your policy will lapse and you will lose your coverage.

You may be able to reinstate your policy within a certain period of time after it lapses by paying all past due premiums and providing evidence of insurability.

Company culture

Lincoln Heritage is a family-owned and operated company that has been in business since 1963.

The company values integrity, excellence, service and innovation.

It strives to provide its agents with training, support and incentives to help them succeed.

The company also supports various charitable causes and organizations in the communities where it operates.

Customer reviews and ratings

    • “I have been with Lincoln Heritage for over 10 years, and I have never had any problems with them.

They always pay my claims within 24 hours, and they are very helpful and courteous.

I would recommend them to anyone looking for final expense insurance.” (5 stars on Trustpilot)

FAQs

To file a claim with Lincoln Heritage, you need to contact their customer service department at 1-800-438-7180 or email them at claims@lhlic.com.

You will need to provide them with some information about the deceased policyholder, such as their name, policy number, date of death and cause of death.

You will also need to submit a certified death certificate and any other documents they may request.

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