How to Cancel Lincoln Heritage Life Insurance

How to Cancel Your Lincoln Heritage Policy (Step by Step)

Cancelling a Lincoln Heritage burial insurance policy is not complicated, but doing it in the right order protects you. Follow these five steps so nothing gets lost and you have proof at every stage.

Step 1: Decide if you should cancel yet

Before you cancel anything, make sure you will not be left without coverage. If you plan to replace this policy with another one, do not cancel first.

Get the new coverage fully approved and in force before you end the Lincoln Heritage policy. The section below, “Get New Coverage in Place Before You Cancel,” explains why this order matters so much.

Step 2: Call customer service

The main way to start a cancellation is by phone. Call Lincoln Heritage customer service at 800-438-7180.

Their service line is generally open Monday through Friday and Saturday mornings, Mountain Time. Hold times can be long, so plan to call early and be patient.

When you reach a representative, tell them clearly that you want to cancel your policy. Have your policy number and personal details ready so they can find your account quickly.

Lincoln Heritage may try to keep you as a customer or offer other options. You do not have to accept anything. You can simply repeat that you want to cancel.

Step 3: Follow up in writing

A phone call alone can be hard to prove later. Put your cancellation request in writing so there is a clear record.

Your written request should include:

• Your full name and mailing address
• Your policy number
• A clear statement that you want to cancel the policy
• The date you want the cancellation to take effect
• Your signature and the date

Send the letter by certified mail or another method that gives you proof of delivery. Keep a copy of everything you send for your own records.

Step 4: Stop automatic drafts and confirm in writing

If your premium comes out of your bank account or card automatically, do not assume it stops on its own. Ask Lincoln Heritage in writing to stop all future drafts as of your cancellation date.

If a draft is scheduled soon, you may also want to alert your bank. Keep written proof that you asked for the drafts to end, in case a payment is pulled after you cancel.

Step 5: Get written confirmation of the cancellation date

Cancellation is not truly finished until you have it in writing from Lincoln Heritage. Ask them to send a letter or email confirming that the policy is cancelled and the exact date it ended.

Save this confirmation with your other records. If any billing or refund question comes up later, this document is your proof.

Can You Cancel Within the Free-Look Period for a Full Refund?

Yes. Every Lincoln Heritage funeral insurance policy comes with a free-look period. This is a short window, right after you receive the policy, when you can cancel and get all your money back.

The free-look period exists to let you read the policy at home with no pressure. If you change your mind during this window, you get a full refund of any premium you paid.

How long the window lasts depends on your state. Lincoln Heritage commonly provides at least a 10-day free-look period, and some states require a longer window. The exact number of days is printed on the first page or cover of your policy.

The refund outcome is very different depending on when you cancel:

To use your free-look rights the right way, act quickly and keep proof. A few simple steps help:

• Check the cover page of your policy for the exact number of free-look days
• Count from the day you received the policy, not the day you applied
• Send your cancellation request in writing before the window closes
• Use certified mail or another trackable method so you can prove the date
• Ask for written confirmation of the cancellation and your refund

If you are still inside this window and having second thoughts, this is the cleanest and least costly time to cancel a burial life insurance policy. Once the free-look period ends, a refund is no longer on the table, and any money back would come only from cash value.

Does Your Policy Have Cash Value — and Do You Get It Back?

Lincoln Heritage sells whole life burial insurance, and whole life policies build a small savings amount called cash value. If you cancel, you may get this money back, but how much depends heavily on how long you have held the policy.

It helps to know the plain difference between two terms. Cash value is the amount your policy has built up. Surrender value is what you actually receive if you cancel, which is the cash value minus any fees or unpaid loans.

One important point: cash value is not a refund of your premiums, and it is not the death benefit. It is a separate, smaller pool of money that grows slowly over the years.

Why early-years cash value is close to zero

Whole life final expense policies usually build little or no cash value in the first couple of years. If you cancel early, there may be nothing to pay out.

Cash value grows slowly and only starts to add up after you have held the policy for many years. Here is a general picture of what to expect:

To give one real example, a 50-year-old man with a $25,000 whole life policy costing about $75 a month would have roughly $3,500 in cash value after ten years.

Your own policy comes with a table of guaranteed values. This table shows the exact cash value for each policy year, so you can look up your number before you decide.

How to request your surrender value

Cashing out your cash value is the same as cancelling the policy. When you surrender, the coverage ends and your loved ones will no longer receive a death benefit.

To request your surrender value, contact Lincoln Heritage customer service at 800-438-7180 and ask to surrender the policy. They can tell you the current surrender value and send you the right form.

Put your request in writing, sign it, and keep a copy. Ask for written confirmation of the amount and the date the policy ended, just as you would with any cancellation.

Can you borrow against it instead?

If you want cash but also want to keep your funeral insurance in place, a policy loan may be a better choice than surrendering. A loan lets you borrow against your cash value while the coverage stays active.

Keep in mind that a loan is not free money. If you pass away before paying it back, the unpaid amount is subtracted from the death benefit your loved ones receive.

A loan tends to make sense when you have built up enough cash value and you still want the coverage. Surrendering makes more sense when you no longer want or need the policy at all. Because a loan only works once real cash value exists, this option is usually not available in the early years.

Get New Coverage in Place Before You Cancel

This is the most important warning in this guide. If you plan to replace your Lincoln Heritage policy, do not cancel it until the new coverage is fully approved and active. Cancelling first can leave you unprotected or cost you far more.

Three things work against you when you buy a new burial insurance policy later in life. Each one is worth understanding before you make a move.

First, you are older now. Final expense premiums are based partly on your age, and they rise as you get older. A new policy will likely cost more per month than your current one did when you bought it.

Second, your health may have changed. A new application asks health questions again. If you have developed a condition since your first policy, you could face a higher rate, a modified plan with a waiting period, or even a decline.

Third, a new policy starts a fresh contestability period. This is a window, usually the first two years, when the insurer can review your application if a death claim is filed. If they find a mistake or missing detail, they can reduce or deny the claim.

Because of these risks, the order you do things in really matters. Follow this safe order:

• Apply for the new policy and answer all health questions honestly
• Wait until you receive written approval and the policy is active
• Confirm the first premium is paid and coverage is in force
• Only then cancel your Lincoln Heritage policy using the steps above

Doing it this way means you are never left with a gap in coverage. If the new application is declined or priced too high, you still have your original funeral insurance to fall back on. To understand the health questions a new policy will ask, review the health questions guidance before you apply.

Alternatives to Cancelling Outright

Cancelling is not your only choice. If the real problem is cost, or you still want some protection, there are gentler options that let you keep part of your burial insurance. It is worth looking at these before you give up the policy for good.

Here is a quick side-by-side of the three main alternatives:

Reduce your coverage amount

If the monthly premium has become hard to manage, you may be able to lower it by reducing your coverage amount. A smaller death benefit means a smaller bill.

For example, dropping from a $15,000 policy to a $10,000 policy would lower what you pay each month while keeping the funeral insurance in force. Call Lincoln Heritage at 800-438-7180 to ask if this is allowed on your policy and what your new premium would be.

This keeps you covered and avoids a fresh application, new health questions, and a new waiting period. It is often a better first step than cancelling completely.

Reduced paid-up insurance

Some whole life policies offer an option called reduced paid-up insurance. This lets you stop paying premiums and use the cash value you have built to buy a smaller policy that is fully paid for.

With reduced paid-up, you owe no more premiums, and the coverage is permanent and cannot lapse. The trade-off is a lower death benefit than your original policy.

This option only works if you have built up enough cash value, so it is usually not available in the early years. It is also often a permanent choice you cannot undo, so ask Lincoln Heritage whether your policy offers it and what your paid-up amount would be before you decide.

Missed a payment? Grace period and reinstatement

If you are thinking about cancelling because you fell behind on a payment, you may not need to cancel at all. Life insurance policies include a grace period, which is extra time to pay after your due date without losing coverage.

Grace periods are commonly around 30 to 31 days, though the exact length depends on your policy and state. During this window, your coverage stays active, so paying the overdue premium keeps everything in place.

If the grace period passes and the policy lapses, you may still be able to bring it back through reinstatement. To do this, you generally have to:

• Contact Lincoln Heritage as soon as possible
• Pay the missed premiums, sometimes with interest
• Answer health questions again if too much time has passed
• Get written confirmation that the policy is active again

Reinstating an existing policy is often better than buying a new one, since a new policy would cost more at your current age and start a new waiting period. If money is tight, ask about reinstatement before you walk away.

After You Cancel: FCGS, Mail, and Agent Contact

Once your policy is cancelled, a couple of loose ends remain. Knowing what changes, and how to quiet any leftover mail or calls, helps you close this chapter cleanly.

What happens to your FCGS membership

Every Lincoln Heritage Funeral Advantage policy comes with a free membership to the Funeral Consumer Guardian Society (FCGS), which helps families plan and price-shop funerals. Because this membership is a benefit of holding the policy, it ends when the policy ends. Once your funeral insurance is cancelled, you no longer have the FCGS membership tied to it.

How to stop Lincoln Heritage mail and agent calls

After cancelling, you may still get marketing mail or calls for a while. A few simple steps can reduce or stop them.

Start with Lincoln Heritage directly. Call 800-438-7180 and ask to be added to their internal do-not-contact and do-not-call lists, and to stop marketing mail. A company you did business with may otherwise keep contacting you for a limited time, so this request matters.

To cut down on marketing mail more broadly, you can register with DMAchoice at dmachoice.org. This service asks many national companies to remove you from their mailing lists and lasts for several years, though there is a small fee.

To reduce sales calls, add your number to the National Do Not Call Registry at donotcall.gov or by calling 888-382-1222 from the phone you want to register. Some states also run their own do-not-call lists you can join for extra coverage.

Give these changes a few weeks to take effect. Between your direct request to Lincoln Heritage and these free or low-cost tools, the mail and calls should taper off.