6 Tips for Selling Final Expense Insurance

Are you looking for a new sales opportunity? If so, selling final expense insurance may be the perfect fit for you. Final expense policies are life insurance policies that provide coverage in the event of a person’s death. This type of policy is growing in popularity, as more and more people are looking for ways to protect their loved ones financially.

In this blog post, we will discuss some of the best tips for selling final expense insurance, along with some of the challenges you may face. By the end, you should have a good understanding of whether or not selling final expense insurance is right for you.

If you’re wondering how to sell final expense insurance, or simply want to learn some tips to help you close more sales, then read on. Some of the best tips for selling final expense insurance are included below.

Like any insurance, selling final expense life insurance is all about relationships. You need to build rapport with your clients and establish trust. This is especially important when selling final expense insurance, as many people are hesitant to talk about death and dying. Therefore, it’s important that you be patient, understanding, and respectful when talking to potential clients about final expense insurance.

There are 2 approaches with selling final expense life insurance. The first is through direct final expense leads. The second, and probably most fulfilling, is to make connections within your community. Making connections can look like volunteering, joining local organizations, or simply getting to know your neighbors. Bake sales, religious and community events, charity drives and more can all help you connect with people looking for your services.

By getting involved in your community and building relationships, you’ll be more likely to find selling opportunities for final expense insurance.

While it can be awkward to talk about death and dying, taking a personal approach to the subject can help put your clients at ease and make them more receptive to your sales pitch.

For example, you can share a personal story that your prospect can relate to, such as the death of a loved one and the funeral costs and complications that came after. The biggest benefit of final expense insurance is that it can help take the financial burden off of your loved ones after you die. So, bringing through the human connection in your story will help it resonate.

You can also try selling final expense insurance through your social networks. Online communities offer safe and secure spaces where people can discuss issues they may not normally bring up in public, such as end of life expenses.

Try offering webinars, eBooks, or other digital resources that can help your audience understand final expense insurance and its benefits. Some agents offer free classes via Facebook Live where they discuss how to get one’s affairs in order, and can provide assistance for specific requests. You might even consider joining an online community of final expense insurance agents to learn from their selling strategies.

Digital marketing strategies such as landing pages and online advertising can also help get your name out into the community. Just remember, your audience is only going to be active on certain channels, so be sure to tailor your approach to their needs.

Selling final expense insurance is unique in that most people only buy it once. Because of this, your potential clients will definitely have questions about final expense insurance.

While it’s always important to be knowledgeable about the product you’re selling, this is especially true when it comes to sensitive subjects like final expense insurance. Before meeting any prospects, you should have a thorough understanding of the features and benefits of final expense insurance, as well as be familiar with the various riders and options that are available.

Be prepared to answer any questions they might have so you can close the sale confidently.

The sales pitch is the most important part of selling final expense insurance, so you’ll want to make sure it’s perfected before meeting with any prospects.

Your pitch should be clear, concise, and easy to understand; avoid using industry jargon or terms that your prospect might not be familiar with. Try ​​writing a script for selling final expense insurance.

It’s also important to focus on the benefits of the policy, rather than the features.

For example, Instead of saying “This policy has a level death benefit,” you could say “Your loved ones will receive the full benefit no matter when you pass away.”

By stressing the benefits of the policy, you’ll be more likely to close the sale.

It’s important that your clients know what to expect during the underwriting process.

Make sure they understand that there are no medical exams required, and that in most cases, a decision can be made based on the application alone.

It’s also important to let them know that coverage can begin almost immediately – in some cases, as soon as the first premium is paid.

This is a huge benefit for people who are looking for peace of mind and want to make sure their loved ones are taken care of.

You can also explain your utilization of software like Best Plan Pro to quickly find the best plan for them with apples-to-apples comparisons. Tools like this can also show you the best day-one coverage options and the best prices for that option. Also, if you use BPP, you can use the FEX Competitive Analysis to determine what carriers you should carry or what products might replace your policy.

Selling final expense insurance is a great sales opportunity, but it’s important to keep a few things in mind when approaching potential clients. By being patient, understanding, and respectful, you’ll be able to put your clients at ease and better explain the benefits of final expense insurance.

If you’re ready to start selling final expense insurance, we can help. Best Plan Pro offers a simple, efficient and powerful final expense insurance underwriting platform that makes selling final expense insurance easy. We provide you with training, fact-finding help, and instant health-based prequalification with our proprietary carrier-backed platform.

So what are you waiting for? Give it a try with a no-risk trial. Contact us today and let’s get started!