Lincoln Heritage vs Shelter Life Insurance
For clients seeking affordable life insurance, Lincoln Heritage and Shelter Life Insurance offer two distinct approaches. Lincoln Heritage specializes in final expense policies with simplified applications, while Shelter Life provides a broader range of term and permanent life insurance options. Here’s how they compare for budget-conscious buyers.
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Company Overviews
Lincoln Heritage
Founded in 1963, Lincoln Heritage is a family-owned company and the nation’s largest provider of agent-sold final expense insurance, operating in 49 states. The company is known for its Funeral Advantage program, which focuses exclusively on helping families cover funeral and burial costs.
Shelter Life Insurance
Shelter Life, part of Shelter Insurance Companies (est. 1946), offers a wide range of insurance products, including term, whole, and universal life insurance, primarily through local agents in 15–21 states. Shelter is a mutual company, owned by its policyholders, with a strong regional presence and a focus on personalized service.
Financial Strength & Ratings
| Company | AM Best Rating | BBB Rating | Notable Updates |
|---|---|---|---|
| Lincoln Heritage | A- (Excellent) | A+ | Outlook revised to Positive, strong recent earnings |
| Shelter Life | A (Excellent) | A+ | Recent ICR downgrade from a+ to a, FSR stable |
Both companies are financially sound, but Shelter Life holds a slightly higher AM Best rating.
Policy Types Offered
Lincoln Heritage:
- Final expense (whole life, up to $20,000–$35,000)
- No term or universal life options
Shelter Life:
- Term life (EZ Term, Level Term, Express Term)
- Whole life (Secure, Traditional, 20-Pay)
- Universal life
- Low-cost children’s life insurance
Coverage Options & Flexibility
Lincoln Heritage:
- Up to $35,000, varies by state and age
- No medical exam, simplified underwriting
- Fixed premiums, lifelong coverage
- Fast claims payout (often within 24 hours)
- Optional accidental death benefit (up to $100,000)
Shelter Life:
- Term coverage: $50,000–$100,000+ (10, 20, or 30 years)
- Whole life: cash value and dividend options
- Universal life: flexible premiums and death benefit
- Convertible term options
- Children’s policies available
Underwriting & Application Process
Lincoln Heritage: Simplified underwriting with a one-page application. No medical exam required. Immediate or modified coverage based on health responses.
Shelter Life: Most policies require a medical exam. Express Term is no-exam for healthy applicants aged 18–60. Rates depend on age and health.
Pricing & Affordability
Lincoln Heritage: Starts at $15/month. A $10K policy for a 50-year-old costs $33–$48/month. Typically more expensive than other final expense insurers.
Shelter Life: More affordable term and whole life for healthy applicants. Quotes only available via agents.
Alternatives to Consider
- Mutual of Omaha: Lower-priced final expense and term options
- Trinity Life, Family Benefit Life: Affordable first-day coverage
- Ethos, Guardian Life: No-exam term and whole life for broader needs
Riders & Customization
Lincoln Heritage:
- Accidental death and dismemberment
- Waiver of premium
- Accelerated death benefit
- Limited rider options
Shelter Life:
- Waiver of premium
- Accidental death benefit
- Guaranteed insurability
- Paid-up additions
Best For…
| Company | Best For |
|---|---|
| Lincoln Heritage | Seniors seeking no-exam final expense coverage and fast claims |
| Shelter Life | Individuals or families wanting flexible term or permanent life, or children’s coverage |
Pros and Cons
| Company | Pros | Cons |
|---|---|---|
| Lincoln Heritage | No medical exam, fast claims, funeral support | Higher premiums, low coverage, only final expense |
| Shelter Life | Multiple policy types, flexible riders, affordable term | Not available nationwide, most policies need a medical exam |
Customer Experience & Support
Lincoln Heritage: Live support, no automated menus. 24-hour claims payout. Online account access. A+ BBB rating, but some sales/pricing complaints.
Shelter Life: Strong agent network, not nationwide. No online quotes. High BBB rating, low complaints, but no 24/7 service.
Final Verdict
Lincoln Heritage is best for seniors needing simple, fast final expense coverage with no medical exam—even if premiums are higher.
Shelter Life is a better fit for families seeking term or permanent coverage with more options and lower costs, especially when working with an agent.
Tip: Always compare quotes from multiple providers to get the best value based on your age, location, health, and desired policy type.
Lincoln Heritage vs. Shelter Life Insurance: Frequently Asked Questions (FAQs)
Blake Insurance Group
Phone: (888) 387-3687
Email: [email protected]
Hours: Mon-Fri 9:00 am to 5:00 pm
Sat-Sun: Closed
Blake Nwosu
Owner & Principal Agent