Lincoln Heritage Life Insurance Company Employee Reviews for Underwriter

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1.0
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Good Company, Unethical Leadership
Field Underwriter (Current Employee) –  PennsylvaniaJuly 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.
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5.0
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Great atmosphere, management
Underwriting Associate (Current Employee) –  Phoenix, AZJuly 1, 2019
I love working at Lincoln Heritage. They have a great atmosphere and the managers are fantastic. They are open to new ideas. They are family owned and it shows.
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5.0
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Great culture. Family environment
Field Underwriter (Former Employee) –  Indianapolis, INApril 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
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2.0
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Non Supportive from company Except (Direct) Management
Underwriting Supervisor (Former Employee) –  Phoenix, AZMarch 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)!
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5.0
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On your time
Field Underwriter (Current Employee) –  Chester, VAMay 29, 2018
A typical day at work at Lincoln Heritage life insurance company is a day you make it
What i learned at this company is how to talk to people of all age groups keep my edge with constant practice and to work hard all day and reward yourself everything comes with a sacrifice
Management is great the constantly keep you in mind as well as checking up on you and your situation and give it to you straight and are always helpful
The hardest part of the job is just to get out of bed and go to work
The most enjoyable part of the job is just getting out and helping someone that day
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1.0
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100% Trash
Field Underwriter (Former Employee) –  Lehigh Valley, PAJuly 3, 2016
Horrible, tmg is a cult!!! Do not work with these guys are ripoff artist and waste all of your resources when you are struggling, please stay away!!!
Pros
None
Cons
Too many
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3.0
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The most time flexible job ever!
Field Underwriter (Current Employee) –  San Diego, CASeptember 17, 2015
The main reason I like working for Lincoln Heritage is because I can work the hours that make sense for me and take time off when I need it without asking permission from anyone. The starting compensation for new hires (80%) is fantastic and they provide leads and finance the cost so there is no out of pocket expense! The constant driving around can get tiresome, and some of the leads are not as qualified as I'd like, but a reliable return overall.
Pros
Time flexibility
Cons
Self-starters only. Not a place for people looking to coast.
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4.0
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Great place to get involved
field underwriter (Current Employee) –  Allentown, PAFebruary 5, 2015
It is great seeing all walks of life.
You are your own business
making sure the clients understand the true meaning behind our product.
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4.0
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Hard work and long days
Field Underwriter (Current Employee) –  Philadelphia Pa.May 12, 2014
A great place to work if you like helping people.You must be self desaplained to excell in this Industry.Being a contractor means no work no pay ,so you have to be motivted.
I love helping people but I can't afford to not get paid.
Pros
working for yourself
Cons
long days
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3.6
Based on 133 reviews
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