Top Reasons To Sell Final Expense Insurance
In insurance sales, few options offer both practicality and impact like final expense insurance. Also known as burial insurance or funeral insurance, this specialized coverage helps people prepare financially for end-of-life expenses. For agents considering their career paths in insurance, selling final expense insurance is not just about business—it’s about meeting a real need, growing demand, and making a meaningful difference for clients and their families.
At Orca Life, we prioritize transparency, professionalism, and personalized support with policyholders and agents alike. With over 23 years of dedicated service in the life insurance industry, we have the knowledge and experience needed to understand this industry and what it requires of agents. Every agent has their own reasons for selling their specialized products, but burial insurance offers a few unique benefits that continually attract agents.
Should I Sell Final Expense Insurance?
Final expense insurance is a type of whole life insurance specifically designed to cover funeral costs and other end-of-life expenses. Unlike traditional life insurance policies that can have higher coverage amounts and longer terms, final expense carriers typically give a smaller death benefit payout. This type of insurance becomes relevant as individuals approach retirement and start thinking about financial security in later years.
Deciding whether to sell final expense insurance depends on several factors, including your interests, strengths, career goals, and the market opportunities in your area. Here are some of the top reasons agents choose to sell final expense:
1. Industry Growth and Demand
Final expense plans are becoming more popular because of changes in demographics like more people getting older and realizing how important end-of-life coverage is. Baby boomers in particular are entering retirement age in large numbers, making them the target market for final expense leads. This increasing demand gives insurance agents the opportunity to tap into this growing market by meeting the needs of these older individuals.
2. Easier To Sell Than Life Insurance
One of the standout advantages of final expense insurance is its accessibility. Compared to traditional life insurance policies, final expense insurance typically has lower coverage amounts and more affordable premiums. Additionally, final expense offers a simple application process, and does not require medical exams or medical underwriting, so individuals with chronic health conditions can qualify. This affordability and accessibility make it easier to sell, as it appeals to clients who may not qualify for or afford larger life insurance policies. For agents, this means potentially shorter sales cycles and higher conversion rates, meaning quicker commissions.
3. Flexibility of Schedule
One of the attractive aspects of being a life insurance agent, in general, is the flexibility it offers in scheduling. Whether you prefer working traditional office hours or setting your own schedule, selling final expense insurance allows you to tailor your work hours to suit your lifestyle and personal preferences. This flexibility can be particularly appealing for agents seeking a better work-life balance or those with other personal commitments.
4. Helping People Financially
Selling final expense insurance policies isn’t just about making sales—it’s about making a meaningful impact on people’s lives during a challenging time. By providing clients with the means to cover funeral and burial costs, medical bills, and other final expenses, you offer them peace of mind and relieve them of financial burdens during a difficult period. This aspect of the job can be deeply rewarding, as you play a crucial role in helping families plan and protect their loved ones’ financial futures.
5. Stable and Predictable Income
While commissions may vary by policy and insurance company, selling final expense insurance often provides agents with a stable and predictable income. The steady demand for these policies, coupled with their affordability and practicality, means agents can build a reliable client base over time. This stability can be especially reassuring for agents looking to establish themselves in the insurance industry or seeking financial security.
6. Building Relationships and Trust
As a final expense agent, you have the chance to build lasting relationships with clients and their family members. By understanding their unique needs and providing personalized guidance, you become a trusted guide in their financial planning journey. This relationship-building aspect of the job not only enhances client satisfaction but also contributes to long-term business success through referrals and repeat business.
Selling final expense life insurance combines financial opportunities with the satisfaction of helping people plan for the future. From its ease of sale and growing demand to the flexibility it offers agents and the impact on customers’ lives, there are many reasons why entering this market can be a rewarding career choice. If you are passionate about making a difference and seeking a fulfilling career in insurance sales, final expense sales could be your path to professional success and personal satisfaction.
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