Neither one is better on its own, because both attach something to the coverage and the two attachments do different jobs. Foresters is a fraternal benefit society, so what you buy is a membership certificate and the member benefits ride along with it, things like online legal documents, scholarships for members and their children, and community grants. Lincoln Heritage writes final expense and nothing else, and its Funeral Advantage program includes a membership in the Funeral Consumer Guardian Society, which helps a family plan the service and compare prices at local funeral homes. If the extras you would actually use are the household ones, start with Foresters. If the funeral itself is the specific worry, start with Lincoln Heritage.
At a glance
| Foresters Financial | Lincoln Heritage | |
|---|---|---|
| Company structure | Fraternal benefit society, The Independent Order of Foresters | Private insurer, part of the Londen Insurance Group |
| Home office and roots | Toronto, Ontario. More than 150 years in business | Phoenix, Arizona, writing final expense since 1963 |
| What they write | Term, whole life, universal life, children’s, accidental death | Final expense whole life, by design |
| What you actually receive | A membership certificate plus Foresters member benefits | A Funeral Advantage policy plus FCGS membership |
| Signature extra | LawAssure online wills, powers of attorney and directives | Funeral planning, price comparison and contract review |
| Final expense plan | PlanRight, ages 50 to 85, $5,000 to $35,000 | Funeral Advantage, up to $35,000 per the company |
| How you qualify | Simplified issue, no bloodwork, swab or paramedical visit | Simplified issue, a few health questions, no medical exam |
| How you buy it | Through licensed agents appointed to sell Foresters | Through Lincoln Heritage agents, usually in person |
| Financial strength | Check the current rating at ambest.com | Check the current rating at ambest.com |
Both attach more than a death benefit. One serves the years before, the other serves the week after.
The interesting thing about this pair is that neither company hands you only a death benefit, so the comparison is really about which attachment fits your life. Foresters is a fraternal benefit society, which means you are not buying a policy from a company so much as joining a society that issues you a certificate. The member benefits that come with it are aimed at the years you are still here and at the household around you: LawAssure for a will, a power of attorney and a healthcare directive, the scholarship programs, community grants and member discounts. Lincoln Heritage points its extra at one week instead. Funeral Advantage includes a membership in the Funeral Consumer Guardian Society, a separate organization that records your wishes in advance and, when the time comes, helps your family compare prices at local funeral homes and read the funeral contract before anyone signs it. Same idea, opposite timing. Foresters gives the household something to use for years. Lincoln Heritage gives your family something to lean on the week they need it most.
Who each one actually suits
Foresters Financial
A Toronto fraternal benefit society whose certificates carry member benefits for the household
- You would genuinely use the legal side of membership, since LawAssure lets members prepare a will, a power of attorney and a healthcare directive without hiring that out separately.
- The need may grow or change, and you want one place that can write term, whole life, universal life, a children’s policy or accidental death coverage.
- A burial sized certificate is the whole job and PlanRight fits you: ages 50 to 85, $5,000 to $35,000, simplified issue with no bloodwork, saliva swab or paramedical visit.
- The riders PlanRight includes at no additional premium read as useful to you, including the common carrier accidental death rider, the family health benefit rider and an accelerated death benefit for terminal illness.
- There are children or grandchildren in the picture, and the scholarship programs are the kind of thing your family would actually apply for.
Lincoln Heritage
A Phoenix insurer writing final expense only, with funeral planning help bundled in
- The funeral is the exact bill you are solving, and you want a company that has done that one job since 1963.
- What worries you is your family standing in a funeral home with no idea what anything should cost, which is precisely the gap the FCGS membership is built to fill.
- You want your wishes written down in advance and kept on file somewhere your family can reach, so nobody has to guess at the worst possible moment.
- You would rather have a licensed person at your table who reads the application aloud with you and answers the health questions on the spot.
- You are buying later in life, and Lincoln Heritage publishes Funeral Advantage as available to individuals up to age 85.
If you already hold one of them
If you already hold one of these, start by finding out what is attached to it, because in both cases the part people forget is the part that came free. With Foresters, log into MyForesters or ask what your membership currently includes, since scholarships, legal document services and member discounts only help families who know they exist. With Lincoln Heritage, make sure whoever will handle your arrangements knows the Funeral Consumer Guardian Society membership is there, because it does nothing at all unless somebody calls it. Then check which version of the plan you were issued on, since a limited benefit period already behind you is worth real money and a replacement policy can restart that clock. Keep what you have is a perfectly good ending to a review.
Common questions
Are the extras that come with each one part of my insurance contract?
Generally no, and it is worth knowing that up front for both. Foresters states plainly that its member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations, and may be changed or cancelled without notice. The Funeral Consumer Guardian Society is a separate organization from Lincoln Heritage, so what the membership provides sits with the Society rather than on your policy schedule. That does not make either one unimportant, because a set of estate documents or a family that knows what a funeral should cost is worth having. It does mean the death benefit is the promise you should buy on, and the extras are the part that comes with it. Ask each company what is currently included before you count on any specific service.
What is a fraternal benefit society, and does it change how the insurance works?
A fraternal benefit society provides insurance to its members rather than to the general public as a stock company would, and Foresters is organized this way as The Independent Order of Foresters, based in Toronto with more than 150 years behind it. In practice you receive a membership certificate instead of an ordinary policy, and member benefits come attached. The insurance itself behaves the way you would expect: a premium, a named beneficiary and a death benefit paid to your family. Fraternals are licensed and regulated by state insurance departments like any other carrier. Lincoln Heritage Life Insurance Company is not a fraternal. It is a private insurer based in Phoenix, Arizona and part of the Londen Insurance Group. Financial strength for either one is worth looking up yourself at ambest.com rather than trusting a figure printed in an article.
Does either one require a medical exam?
Not on the final expense plans. Foresters publishes PlanRight as simplified issue, which means insurability rests on your answers to medical and other application questions plus underwriting searches and review, with no bloodwork, no saliva swabs and no visit from a paramedical examiner. Lincoln Heritage underwrites Funeral Advantage the same way, with a few health questions on the application taking the place of an exam. What those questions decide is which version of the plan you qualify for, not whether you get to apply at all. Larger amounts or longer term coverage on the wider Foresters shelf can involve more underwriting, so ask what applies to the specific product you are being shown.
How much coverage can each one issue, and at what ages?
Foresters publishes PlanRight for ages 50 to 85 with face amounts from $5,000 to $35,000, coverage that runs to age 121, guaranteed level premiums and guaranteed cash values. Lincoln Heritage publishes Funeral Advantage coverage up to $35,000, available to individuals up to age 85. Both are sized for a funeral and the bills that follow rather than for income replacement, and most families buy well under either ceiling. If you need more than a burial sized amount, Foresters has term, whole life and universal life on the same shelf, while Lincoln Heritage stays within final expense by design. Availability and terms vary by state at both companies, so confirm what applies where you live.
Is there a waiting period with either one?
It depends on which version your health answers place you in, and both companies work along those lines. Answer the questions cleanly and the full benefit is generally payable from the start. Do not qualify, and you land on a version with a limited benefit in the early policy years. Lincoln Heritage explains that its modified final expense plans, the ones written for applicants with higher health risks, usually carry a two to three year waiting period, and that a beneficiary during that window generally receives a return of the premiums paid rather than the full face amount. Foresters writes PlanRight in more than one version as well. Ask which one you are being offered before you sign rather than after, and read it on your own policy schedule once it arrives.
Can I get the member benefits or the funeral help without buying coverage?
Not at either company, and for the same reason. Foresters membership arrives with the certificate, so there is no separate dues path to join and nothing extra to sign up for. The Funeral Consumer Guardian Society membership comes attached to a Funeral Advantage policy at no separate charge rather than being sold on its own, which is why people who go looking for a standalone application do not find one. In both cases the extra is a benefit of holding the coverage. That is worth factoring in when you compare, because replacing either policy means giving up what came with it, not just the death benefit.
Which one costs less?
There is no honest blanket answer, and any figure quoted before your details are known is an average rather than your price. Premiums at either company are set by your age, sex, health, tobacco use, the coverage amount, the specific product and your state, and the two underwrite differently, so the more affordable one moves from person to person. One structural note helps: which version of the plan your health answers place you in usually matters as much as which company you apply to. Fix the benefit amount you actually need first, then read both quotes for that same amount side by side, ideally next to a couple of other final expense carriers.
If I already have one of these, should I switch to the other?
Not automatically, and often not at all. Coverage you already own was priced on the health you had when it was issued, so if your health has changed since, replacing it can cost more or may not be available on the same terms. Any honest comparison starts by valuing what you already hold, and a review that ends in keep what you have is a perfectly good result.
Can I hold policies from both companies at once?
Yes. There is no rule against owning coverage from more than one insurer, and plenty of households do, often because policies were bought at different life stages for different reasons. What matters is that the total coverage matches what your family would actually need, and that you are not paying twice for the same job.
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This comparison is general information, not legal, tax, or financial advice. Product availability, pricing and underwriting differ by state, age and health, and change over time. Policy Review Center is a free comparison and referral service, not an insurance agency, insurer, or producer, and it connects you with independent licensed agents. Carrier names are used for reference only and do not imply any endorsement or affiliation.