When families start shopping for final expense life insurance, they often come across Lincoln Benefit Life Company in their research. After over a decade as an independent agent, I’ve observed this carrier from the outside and can share what I know about their approach to final expense coverage.
For a complete overview, see how final expense insurance works.
While Lincoln Benefit Life isn’t among the carriers I personally represent at Heritage Life Solutions, I respect their long history in the insurance industry and their focus on affordable protection. Let me walk you through what makes this company worth considering and how they fit into the broader final expense landscape.
Understanding Lincoln Benefit Life Company’s History and Reputation
Lincoln Benefit Life Company has been serving American families for more than 120 years. Founded in 1897 in Lincoln, Nebraska, they’ve weathered multiple economic downturns and continue to pay claims consistently. Today, they’re part of Allstate Corporation, which provides additional financial stability and backing.
In my conversations with thousands of applicants over the years, I’ve learned that company stability matters enormously to people buying final expense coverage. When someone purchases a policy at age 65, they need confidence that the carrier will still be there 20 or 30 years later when their family needs to file a claim.
Lincoln Benefit Life maintains solid financial ratings from independent rating agencies, though I always encourage people to verify current ratings since these can change. Their long track record suggests they understand the final expense market and the unique needs of older adults seeking coverage.
What I find interesting about Lincoln Benefit Life is their focus on direct-to-consumer sales and simplified application processes. This approach can work well for people who prefer handling things themselves rather than working with an agent.
Lincoln Benefit Life’s Final Expense Products and Features
From what I’ve observed in the marketplace, Lincoln Benefit Life offers whole life insurance policies designed specifically for final expense needs. These policies typically feature:
Guaranteed acceptance options for applicants within certain age ranges, usually requiring no medical exam or health questions. This makes them accessible to people with health conditions who might struggle to get coverage elsewhere.
Level premiums that never increase, which provides predictability for people on fixed incomes. When I worked with hundreds of diabetics over the years, I learned how important premium stability is for families managing multiple medications and healthcare costs.
Immediate coverage for accidental death, with full coverage for natural death typically beginning after a two-year waiting period on guaranteed acceptance policies. This is standard in the final expense market.
Cash value accumulation since these are whole life policies, though the primary purpose remains providing death benefit protection for funeral and burial costs.
The company appears to focus on coverage amounts typically ranging from $5,000 to $25,000, which aligns with what most families need for final expenses. Based on current funeral costs, I generally see families looking for $10,000 to $15,000 in coverage.
How Lincoln Benefit Life Compares to Other Final Expense Carriers
Having worked with thousands of applicants over my career, I’ve learned that different carriers excel in different areas. While I can’t speak to Lincoln Benefit Life’s specific underwriting guidelines, I can share how the final expense market generally works.
Some carriers are more lenient with certain health conditions. Others offer better rates for specific age groups or demographic profiles. A few specialize in simplified underwriting that can approve applicants quickly without medical exams.
The carriers I work with daily each have their strengths. Some excel with diabetic applicants, others with heart conditions, and still others with respiratory issues. This is why working with an independent agent who represents multiple carriers can be valuable - we can match your specific situation to the carrier most likely to approve you at the best possible rate.
What matters most isn’t necessarily which carrier you choose, but finding coverage that fits your health profile, budget, and family’s needs. I’ve seen people get declined by one carrier and approved by another for the same condition.
The Reality of Final Expense Insurance Shopping
I once worked with a woman buying a final expense policy who told me she stretched five dollars to feed herself for two days. Money was that tight. But she still wanted coverage because she didn’t want her children burdened with funeral costs. That’s the kind of determination I see in people who understand why this coverage matters.
Final expense insurance isn’t about building wealth or creating an inheritance. It’s about dignity and responsibility. It’s about ensuring your family can focus on grieving instead of scrambling to pay for your funeral.
When people ask me about different carriers like Lincoln Benefit Life Company, I remind them that the “best” carrier depends entirely on their individual situation. Someone with well-controlled diabetes might get preferred rates with one company while being declined by another. Someone with a pacemaker might find excellent coverage with a carrier that specializes in cardiac conditions.
What to Consider Beyond the Carrier Name
After having thousands of life insurance conversations over my career, I’ve learned that people often focus too much on the insurance company name and not enough on the actual policy details. Here’s what really matters:
Premium affordability - Can you comfortably afford the monthly payment for decades? I’ve seen policies lapse because people stretched beyond their budget.
Coverage amount adequacy - Is the death benefit enough to cover your actual final expenses? Funeral costs have risen significantly in recent years.
Health qualification requirements - Can you actually qualify for the coverage being quoted? Some agents quote preferred rates without understanding your full health picture.
Waiting periods and restrictions - Do you understand when full coverage begins and what circumstances might affect claims?
Whether you’re considering Lincoln Benefit Life or any other carrier, these factors matter more than the company logo on your policy documents.
The Importance of Working with Knowledgeable Representation
While Lincoln Benefit Life may offer direct-to-consumer sales, I’ve seen the value of professional guidance in this process. Having worked with hundreds of people who were told “no” by other agents or carriers, I’ve learned that proper application preparation and carrier selection can mean the difference between approval and decline.
The final expense market has nuances that aren’t obvious to consumers. Different carriers have different appetites for various health conditions. Some have more flexible underwriting for certain medications or medical histories. Others excel with specific age ranges or demographic groups.
An experienced agent who works with multiple carriers can often find coverage for people who’ve been declined elsewhere. We know which carriers are lenient on diabetes, which ones handle heart conditions well, and which ones specialize in simplified underwriting.
More importantly, we can help you avoid the frustration of applying with the wrong carrier for your situation. There’s nothing worse than going through an application process only to be declined because the agent didn’t understand which carrier would be the best fit.
Making the Right Choice for Your Family
Lincoln Benefit Life Company appears to be a legitimate option in the final expense market with a long history and reasonable approach to coverage. However, they’re one of many carriers serving this space, each with their own strengths and specialties.
If you’re considering final expense coverage, I encourage you to look beyond any single carrier and focus on finding the right coverage for your specific situation. Consider your health profile, budget constraints, and family’s actual needs.
Remember that final expense insurance is ultimately about peace of mind - yours and your family’s. Whether that comes from Lincoln Benefit Life or another carrier matters less than making sure you have coverage that will be there when your family needs it.
The goal isn’t to find the perfect insurance company. The goal is to find coverage that fits your situation, that you can afford to maintain, and that will provide your family with the protection they need during one of the most difficult times in their lives.
- Lincoln Benefit Life Company has over 120 years of history and offers final expense whole life insurance policies
- They focus on simplified underwriting and guaranteed acceptance options, making coverage accessible to people with health conditions
- Like all final expense carriers, they typically offer coverage amounts of $5,000-$25,000 with level premiums and cash value accumulation
- The “best” carrier depends on your individual health profile, age, and budget rather than company name recognition
- Working with an independent agent who represents multiple carriers can help match your specific situation to the most suitable coverage options
- Final expense insurance is about providing dignity and financial protection for your family, regardless of which carrier ultimately provides the coverage
Related Reading
- Understanding Final Expense Insurance
- Guaranteed Issue Final Expense Insurance: Your Complete Guide
- Burial Insurance for Seniors Over 80: Your Complete Guide
- Funeral Insurance for Seniors: Your Complete Guide
Ready to explore your final expense options? As an independent agent representing multiple A-rated carriers, I can help you compare coverage options that fit your specific health profile and budget. Contact Heritage Life Solutions today for a personalized consultation and see how we can protect your family’s financial future.
