Lincoln Heritage Life Insurance Company
Lincoln Heritage Life Insurance Company Employee Reviews
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flexible hours
LIFE INSURANCE AGENT (Current Employee) – Phoenix, AZ – July 21, 2019
You need to be self motivated. The pay is quick and easy. But when clients cancel, you must pay back your commissions. I have had issues with that. It's hard to keep clients when money is tough.
Good Company, Unethical Leadership
Field Underwriter (Current Employee) – Pennsylvania – July 11, 2019
Pros: Their Funeral Advantage plan is great, but less than 50% of the clients ever take advantage of it so they pay premium dollar for something they rarely use. They can cover a large amount of people, but even then it’s barely a pro because most clients that are modified are paying almost double what their preferred carrier may charge.
Cons: Highest lead cost in the industry and leads are usually 2-4 months old. Your MGA sets the cost so you’re paying anywhere from $35-$42/lead and they are ok quality. They pride themselves in lead financing but it’s just a way for you to get your business started but it will sink you quick if your contract is low, which they won’t discuss how to grow it or how high you can grow it. They will not discuss contracts for growth so you don’t know where you’re capped at, and they have LARGE commission drops. I was lead to believe my contract was 60% coming in, but they left out the fact you often times take a 20% hit when writing Modified plans, and a 40% hit when you write anything that’s over 80 years old or if they pay with a card.
The industry is not all about contracts, but you need to evaluate 4 things when considering a final expense business.
1. Lead cost (cheaper isn’t always better, but you can find much cheaper and better quality leads than Lincoln Heritage provides)
2. Your ability to service your clients. Lincoln Heritage can cover almost anyone, however a large majority of your clients will be Modified. This means you take a 20% hit from your commission level, and the client pays a lot more for a policy that takes more... 2 years to go into full affect. There are other companies out there that will almost always have better rates and same day coverage. Meaning, if you can handle brokering you will give much better service to your clients and also retain a much better book of business. Brokering will also allow you to cover more clients and increase your conversion. You’ll learn with Lincoln Heritage you’re walking out of modified clients homes because it’s just too expensive for what the product is by comparison.
3. Contracting. You can get much higher contract levels than Lincoln Heritage. It won’t take you long to find them. Do your research before believing the hype that their lead financing is better.
4. Training. Training and support is extremely under valued. Lincoln Heritage does a good job having trainings, however I found that they lie and deceive to agents to get them to believe why LH is the best. They claim they are the only company to have a 24 hour cash benefit payout which is not true. They claim they are the number 1 Final expense agency, which is also not true (google it). They give examples of how to make money but the numbers don’t add up. Just be aware when going in. If you’re going in at a 60% contract run away. There are way better options out there today. Brokers are much simpler now and have programs to plug client conditions into and they will tell you the best provider for that client. And they are with much better rated companies. less
Cons: Highest lead cost in the industry and leads are usually 2-4 months old. Your MGA sets the cost so you’re paying anywhere from $35-$42/lead and they are ok quality. They pride themselves in lead financing but it’s just a way for you to get your business started but it will sink you quick if your contract is low, which they won’t discuss how to grow it or how high you can grow it. They will not discuss contracts for growth so you don’t know where you’re capped at, and they have LARGE commission drops. I was lead to believe my contract was 60% coming in, but they left out the fact you often times take a 20% hit when writing Modified plans, and a 40% hit when you write anything that’s over 80 years old or if they pay with a card.
The industry is not all about contracts, but you need to evaluate 4 things when considering a final expense business.
1. Lead cost (cheaper isn’t always better, but you can find much cheaper and better quality leads than Lincoln Heritage provides)
2. Your ability to service your clients. Lincoln Heritage can cover almost anyone, however a large majority of your clients will be Modified. This means you take a 20% hit from your commission level, and the client pays a lot more for a policy that takes more... 2 years to go into full affect. There are other companies out there that will almost always have better rates and same day coverage. Meaning, if you can handle brokering you will give much better service to your clients and also retain a much better book of business. Brokering will also allow you to cover more clients and increase your conversion. You’ll learn with Lincoln Heritage you’re walking out of modified clients homes because it’s just too expensive for what the product is by comparison.
3. Contracting. You can get much higher contract levels than Lincoln Heritage. It won’t take you long to find them. Do your research before believing the hype that their lead financing is better.
4. Training. Training and support is extremely under valued. Lincoln Heritage does a good job having trainings, however I found that they lie and deceive to agents to get them to believe why LH is the best. They claim they are the only company to have a 24 hour cash benefit payout which is not true. They claim they are the number 1 Final expense agency, which is also not true (google it). They give examples of how to make money but the numbers don’t add up. Just be aware when going in. If you’re going in at a 60% contract run away. There are way better options out there today. Brokers are much simpler now and have programs to plug client conditions into and they will tell you the best provider for that client. And they are with much better rated companies. less
Male sure you know what you’re applying for...
interviewee (Former Employee) – Huntsville, AL – June 10, 2019
I interviewed with Lincoln Heritage last week thinking it was something else, because they did not specify at all that they were a life insurance sales company and the name on Indeed wasn’t Lincoln Heritage. The “interview” was basically an hour of sitting in back breaking chairs and being yelled at about how great the company is and degrading people that just want an 8-5 job. I get called for an interview a few days later thinking it was another company (because the name was different and it again didn’t specify that it was life insurance sales) and I get a text from their HR rep the morning of finally saying it was Lincoln Heritage again. This is really annoying to someone who does not want to put miles on their car just to sell life insurance that most people already have. Please be sure to read and research jobs before you make time and use gas to go interview with them.
Excellent Company
Associate (Current Employee) – Phoenix, AZ – May 30, 2019
The culture and principles the company uses are extremely refreshing. Everyone works toward the same goal and has the same objectives. Our field agents are the best in the industry and are really appreciative of all the support we offer them.
Good managers
Sales Representative (Former Employee) – Los Angeles, CA – May 15, 2019
Good company to work for, but too much daily driving. The leads we were purchasing from the leads generation department were sometimes outdated or there was no much interest from the potential prospects.
Great culture. Family environment
Field Underwriter (Former Employee) – Indianapolis, IN – April 12, 2019
Great place to work. Compensation plan was based on policies sold. The hard part was traveling every day and being paid on commission. The joy of the job came when you were able to give peace of mind to a client that did not believe that they could get Life Insurance coverage.
Pros
You make your own schedule.
Cons
Commission based pay
Life Insurance Agent
Independent Insurance Agent (Former Employee) – Southfield, MI – April 2, 2019
I loved working in the field and working for myself. It could get slow at times when you didn't have appointments. I found out insurance is the first thing people cancel when they need money for something else. that affects your pay when someone cancels their insurance
Sky is the limit. Great commission and residuals
MeInsurance Agent (Current Employee) – Columbia, SC – March 16, 2019
Excellent business structure rewards effort. Great training and mentorship. Advancement to management based on team building and showing others how to succeed.best opportunity to financial independence.
Pros
Can write your own ticket to success
Cons
No work no pay
Non Supportive from company Except (Direct) Management
Underwriting Supervisor (Former Employee) – Phoenix, AZ – March 15, 2019
Let me say this company started off Great by helping New Agents purchase Leads with a loan program to purchase leads in your 1st year. However, if your taking the leads you make No money just incur Debt (NOT GOOD) now your working for them because every Dime you make 50% of 1st year income is split 50/50. Now your working a (JOB) while accumulating debt you can't every catch up unless you start purchasing your own leads. This isn't a job for someone looking to work for yourself. Either, you come there and purchase your leads from the onset. Or don't work there. Because if you stop taking that Debt they will Get rid of you!!
Pros
Good Job If Your Looking To Make An Investment In Yourself
Cons
Will Terminate You If You Can't Control (Your Clients Paying Their Policies)!
Hard work
Insurance Agent (Current Employee) – Phoenix, AZ – March 12, 2019
Door knocks from sun up to sun down. No benefits provided, no stock options. If you don't work you don't get paid. Leads are very expensive. You pay for the leads but never own them, they are resold after a few weeks to other agents. The pressure to sell policies are relentless and if you don't produce then you lose your contract. The company then ask you to repay all that you were advanced. That leaves you with no income, however, the manager gets to keep your book of business. The company continues to earn off all the policies that you sold.
Pros
Get advanced really fast
Cons
Pay back advances if someone dies before a year or if you leave.
Life changing Career for the entrepreneurial spirit
Agent (Current Employee) – New Jersey – February 9, 2019
I love working for Lincoln Heritage. I have been in insurance many years before finding them and never ever made as much money as I do now. The company provides excellent training, mentorship and room to grow. It's a great place for people with good work ethic. People that don't make it here or complain about leads etc usually aren't doing this work full time or aren't willing to make the adjustments needed. This Career will make you work on your people skills and teaches you to self discipline and help many people of course with the service we provide. Very rewarding career not just financially.
Pros
I decide how much income i want to earn. We get paid daily
Cons
The pressure of clocking in like at a job is not there so it's up to you to get up and go to work
Bad leads and bad communication
Agent (Former Employee) – United States – February 7, 2019
The leads was not quality or qualified leads, they wasn’t screen for having bank account (meaning if you take credit card business you won’t get paid), A leads could be 60 days old (if the lead has already died in that 60 days they won’t refund you or replace that lead). They cut commissions if the person is modified or age 80+ (There are other carriers in the industry that will pay you full if the person is modified or 80+). Some of the leads has addresses that didn’t exist especially in rural areas. Some leads had PO Box addressees with no phone number. They say they leads are free to reel you in but once you go to the meetings they tell you your leads get taking out your commission( lead financing) so if you take credit card business it doesn’t take down your lead debt. They want you to knock on doors all day with no appointments set in the hopes to make 1 sell a day( most other IMOs you can make like 50 phones calls the day before and already have 5 appointments set). Before you sign with them just read every page in the contract, and if you are a independent broker agent I recommend you find your own lead system
Pros
Easy Underwriting and easy application
Cons
Not Quality Leads, no refunding or replace on leads
Very lucrative job
Area Representative (Former Employee) – Phoenix, AZ – January 24, 2019
I absolutely never thought that I would even do something of this nature. But when I did i absolutely loved it . There is nothing wrong with going out and seeing the people and the money is just like how they say it is.
Productive easy sales program
Life Insurance Agent (Current Employee) – Conway, AR – January 18, 2019
I really love working for Lincoln Heritage. You are your on employer with being an agent. You are the business owner. If you fail, it is on you. It is performance base. The pay is great. Their customer service is phenomal. They are there to answer any questions and assist with any problem. They pay out claims fast, making the my job easier because people believe in them.
Pros
Good support groups, pay is good, professional company, loving atmosphere, have good incentives, and they value you as a person.
Review
Final Expense Consultant (Former Employee) – Westland, MI – January 16, 2019
You had to purchase leads for $35/lead and the leads were terrible. Majority of the leads never answered the phone no matter how many times you called and left messages. Lots of money wasted on creating a home office and investing in the tools necessary only to have to go into debt with purchasing leads that were never answered or quality leads to begin with.
bait and switch
Sales Agent (Former Employee) – Middletown, CT 06457 – January 15, 2019
You pay for the leads then the managers take the best ones leave you the terrible ones. then they complain about performance. you keep paying for leads every week they take it out of your pay check. they keep all the residuals for 2 years and then they lay you off before you can collect on them so the managers make out on all the work that you produce for years and you never collect the money you are owed. Terrible management..Terrible experience. Dont work there, their are so many better companies to work for with a good name and brand name that are ready to hire you and keep you for a career.
Pros
make your own schedule
Cons
cold calling, leads not warm, . long drives all over the state
High energy, faced pace, education
Final Expense Agent (Current Employee) – Jacksonville, FL – January 2, 2019
Expect the unexpected. Working for Lincoln Heritage as a Life Insurance Agent is an excited but challenging career move for me. Expect seeing A LOT of families in the beginning. Be understanding and empathetic to everyone family you sit with! Some families won't be your families and some WILL! Also I would say know who you appeal do in everyday life. Know who you appeal to and find those communities of people! Trust me thats where the sweet spot is.
Pros
own boss, flexibility, independent
Cons
healthcare
Lincoln Heritage Review
Independent Life Insurance Agent (Former Employee) – Montgomery, AL – December 8, 2018
Learned plenty of sales tactics in reference to landing sales. The work culture was very enriching. The most enjoyable part was meeting members of management that were successful in the insurance industry. The most difficult part was dealing with rejection in sales.
Pros
Met great people in the management staff, built lasting friendships.
Cons
Extensive traveling.