What Is the Best Final Expense Underwriting Software?

We’re biased, but here’s everything you need to know about Final Expense Underwriting Software (and what the best FEX software is).

In the world of insurance, final expense insurance may just be the cream of the crop. It’s easy to sell and incorporate into your existing sales process and workflows — and it’s a product that everyone will eventually need someday. But while broaching the subject can be tricky, discussions are relatively straightforward and underwriting is simple, as long as you can line up the right software suite to help you underwrite and manage it all.

Even those who are new to insurance can make sense of final expense underwriting in short order, especially if you’re utilizing a convenient software package to get much of the busywork done. After all, if you can collect leads online or onboard a new client without having to spend hours investigating rates or collecting sensitive information for underwriting, you can increase your revenue and provide a sizable bump to your bottom line. That can help make your side hustle into a legitimate insurance business, and it can also take you from zero to hero if you’re working in house and you want to get more out of your day.

In fact, the most successful final insurance agents often come from unrelated fields, and insurance may be just what you need to get out of that career slump and on to something bigger and better.

While you may be interested in the best final expense underwriting software for your business, it’s important to get the basics down before you decide. While death may be a fact of life, final expense insurance isn’t something that most people are aware of — at least until they realize they might need it. That’s because funerals, burials and other end-of-life services can cost a small fortune. Indeed, it’s not uncommon to pay anywhere from $5,000 to upwards of $50,000 or more on such services, and that’s where final expense insurance comes into play.

Whether it’s to help cover medical bills, transportation for the body, a burial plot or even the casket itself, as well as myriad other end-of-life expenses, final expense insurance is a type of insurance that is highly adaptable. Clients like it because they can use the insurance however they see fit while agents love the flexibility of the sales process and the ease of underwriting. Though once you’ve decided to sell final expense insurance, you’ll need an underwriting software suite with features that take care of much of the heavy lifting for you.

Sure, final expense insurance is a growing market, but if you don’t have your processes down and you’re not leveraging the many final expense underwriting software benefits, you’ll be falling further and further behind as your competitors scoop up new clients at a rate that has you second-guessing your own efforts. However, the truth of the matter is that with the best final expense underwriting software suite, you’ll also be able to do more with less while meeting the demands of the market.

The first thing to look for is whether your chosen toolset provides quick underwriting. Compared to other types of insurance that may take days or weeks to get an accurate quote before you can reach back out to the client, the right platform can give you the information you and your client need within minutes. That means providing almost realtime information to clients as they’re actively deciding on your offering. In addition to a better conversion rate, it also means that you’ll be providing a better service to clients that expect quick action and responses when they raise their hands.

Another benefit of the top final expense underwriting software suites is that they can help you better manage your clients and your time. By streamlining the application process with a few straightforward questions that can be completed in just minutes, clients won’t feel burdened by the hours-long application process that often accompanies most insurance coverage. Furthermore, on the back end, the right software package will help you keep tabs on your growing client base, allowing you to draw insights and make better decisions on the forward trajectory of your offering or business.

During the application process, the best final expense underwriting software will help make short work of medications, conditions and even misspellings that can confuse and belabor the underwriting process. With easy-to-see indicators when something needs another look and quick reports that can be pulled up whenever needed, you’ll be able to save time and money while also doing more good work.

When you finally do reach back out to a customer, your underwriting software should also provide multiple quotes so that clients can easily choose the coverage that works for their need and that all-important budget. Use the same health profile to generate a handful of product quotes and let your client make a decision among the many great options.

Finally, the best final expense underwriting software will arm you with information that you can use to improve your business. From analyzing where your customers come from to the coverage that is preferred by your clients, software can help you make those tough decisions that need the guidance of reliable data. Instead of hoping that next big initiative works out, a comprehensive toolset can arm you with the information to make better decisions, and that help take a lot of the guesswork out of the decision-making process.

Here at Best Plan Pro, we think that our feature-packed underwriting calculator and toolset is the greatest final expense underwriting software suite money can buy. Just about anyone can easily incorporate it into their workflow and sales process without that all-too-common steep learning curve, and that means getting a return on your investment immediately instead of months or years down the line.

In fact, Best Plan Pro is used by agents, teams, agencies and carriers, and it’s not uncommon to experience 10 to 20 percent more business after integrating our tool. For those that are sick of working long hours and that are spending evenings and weekends pulling up quotes and dealing in the details, our final expense underwriting toolset gives you the ability to get more done in less time — time that you can use to spend more time with family or to kick start those other initiatives you’ve been mulling about.

Our tool not only simplifies underwriting — prequalification takes about 60 seconds — but it’s also a comprehensive suite that reflects the risk profiles of carriers. With 95 percent accuracy, underwriting becomes a predictable activity with no surprises. From sales to underwriting and beyond, Best Plan Pro is the best final expense underwriting software suite out there with health management, various quoting options, online and offline features, data entry sanitation, competitive analysis, non-medical intuitiveness, simple pricing, rapid training and easy to understand date management.

If you’re looking for a way to simplify underwriting and get back to selling, Best Plan Pro can help you easily manage the rest. And when you have more time to sell, you’ll be able to bring more revenue in while spending less time on all that busywork. Learn why Best Plan Pro is unmatched or get started with a risk-free trial today!