Funeral Advantage insurance is for individuals who want to cover funeral expenses, as of 2015, according to Lincoln Heritage Life Insurance Co. Lincoln Heritage issues the policies for up to $35,000 coverage. The company makes cash payment to beneficiaries for burial or cremation expenses one day after claims are approved.
As long as the policy holder pays the premiums, the company guarantees the insurance benefits, according to Lincoln Heritage. The one-page application process doesn't require a medical exam, and generally, applicants are approved. Funeral Advantage also assists policy holders with final funeral arrangements by comparing services of a few providers to find the most cost-effective funeral or cremation service.