Lincoln Heritage?
- Thread starter vic120
- Start date
If you do a search , you will find tons of posts about them. The main t hing is they are basically a mlm and very overpriced.
- 19,185
They don't provide payments any faster than any company.
There's nothing wrong with them other than being extremely over priced.
- Thread starter
- #4
That is their pitch most companies you have a lag between claim what needs to be submitted to receive payment can take up to a month
where they strive to provide payment faster so your family will actually have the funds when its needed for payment rather then being reimbursed
Maybe they are lying I suppose
- 19,185
Yes, they are lying.
LH doesn’t pay contestable claims any faster than any company.
Probably slower on average.
They do pay non contestable claims in 24 hours.
But any non contestable claim from any company can be paid in 24 hours.
- Thread starter
- #6
I was listing to a call from a youtuber and she was saying to a woman that had bought a policy from mutual
and she went on to ask her if her kids can pay the claim and wait for reimbursement
as what other companies do is 1st the request a death certificate, and that take x amount of time,
then it takes time to get that to them
then it takes a few weeks before they approve it
Can your children lay out the money?
what kind of pressure would that put on your kids?
what if I told you I have a way you can bypass all that and they can get the money right away and use it to pay for the cremation and take off that pressure?
and then replaced the mutual plan she just bought with this LH
- 4,752
As soon as the funeral home confirms death and reason of the death (accident, breaking the law, etc) they will type up a death certificate. Then the funeral home faxes/emails the death certificate to the carrier(s) fairly fast.....so the funeral home can get paid faster.
If death happens during the 2 year contestability period it will take longer before the check is issued for all carriers.
Let’s no bs here .Ive been involved in probably 8 contestable claims over many decades . 2 yrs ago I had a client call me on a 13 month policy with him looking at the dead wife on the bed . I’d say depending on how much the agent helps avg contestable claim from date of death to decision on claim is 2 plus months . I’ve had it as long as 9 months . But again I’m not sitting there calling the drs office every day asking them to send the records . As far as payment of a claim . The carriers with the most lenient underwriting predictably underwrite the most at claim time . For instant Cica is for all intent purposes a GI . They run no min and rx . I don’t have to tell you how that will turn out come claim time . All I can say is they better hire 5-10 claim specialists as the flood of claims is coming . Somebody ( I think it was Jd) said a company hire up said 50% of all contestable claims in fe denied . I can believe that .Talking with other fe friends over the yrs they express the same thoughts . This is pretty much every company .
- 16,968
I’m a licensed Funeral Director and have worked with funeral homes on their insurance and claims for over 25-years. Any funeral home will be paid within 24-hours of the death (no death certificate needed) by any non-contestible policy when they use a policy assignment company. Most funeral homes do use assignment companies. It costs them about 2% of the claim amount to assign it.
There are many companies that pay claims that rapidly without the assignment company. Lincoln Heritage is one of them. That saves the funeral home 2%. Or $200 per $10,000 claim.
But funeral directors get their money that fast from any company. No one has a speed advantage anymore. 15-years ago, only around 10- insurance companies could pay claims that fast. Lincoln Heritage is just pretending that it’s still like that to help justify why their rates are so high.
My SIL's father died in May. I submittes claims on a National Life and Accident policy issues in 1970 ( now owned by AIG ) and two Kentucky Central Policies issued 1960s ( now owned by Liberty National ). I called both companies and notified them of the death and asked for the claim forms.
A week later the beneficiary received two checks from Liberty National. We I called and let them had not submitted anything to them, no claim form, no death certificate, no obituary, nothing.
Two weeks later, I received a letter from AIG asking for the claim form and proof of death. I called them and let them know no claim form was enclosed and they said they had sent it to the beneficiary. She has never recevied it so I called them again and they said they had mailed to me on June 27. Received that letter today. It was a second request for the claim form and proof of death. But guess what? There still was no claim form enclosed. AIG has to be one of the worst companies around to do business with.
A week later the beneficiary received two checks from Liberty National. We I called and let them had not submitted anything to them, no claim form, no death certificate, no obituary, nothing.
Two weeks later, I received a letter from AIG asking for the claim form and proof of death. I called them and let them know no claim form was enclosed and they said they had sent it to the beneficiary. She has never recevied it so I called them again and they said they had mailed to me on June 27. Received that letter today. It was a second request for the claim form and proof of death. But guess what? There still was no claim form enclosed. AIG has to be one of the worst companies around to do business with.
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