Life insurance agent at desk wearing phone headset selling final expense policies

Essential Keys to Selling More Final Expense Policies

Final expense insurance is a crucial product in the portfolio of any life insurance agent. These policies provide coverage for end-of-life expenses, offering peace of mind to policyholders and their loved ones during difficult times. Selling final expense policies requires a strategic approach and a deep understanding of clients’ needs and concerns. Here are essential keys to help life insurance agents sell more final expense policies effectively:

  1. Understand Your Audience: To sell final expense policies successfully, agents must understand their target audience. Final expense insurance typically appeals to seniors and individuals who are planning for their end-of-life needs. Agents should empathize with clients’ concerns about leaving a financial burden to their loved ones and tailor their approach accordingly.

  2. Educate Clients on the Value of Final Expense Insurance: Many clients may not fully understand the importance of final expense insurance or may be unaware of its availability. As an agent, it’s essential to educate clients on the value of final expense insurance in covering funeral and burial expenses, outstanding debts, and other end-of-life costs. Highlighting the peace of mind and financial security that final expense insurance provides can resonate with clients seeking to protect their families from unnecessary financial stress.

  3. Offer Affordable and Flexible Coverage Options: Final expense insurance should be accessible and affordable for clients of all income levels. Offer a range of coverage options with varying premium amounts to accommodate different budgets. Consider partnering with insurance carriers that offer flexible underwriting guidelines and simplified application processes, making it easier for clients to qualify for coverage.

  4. Build Trust and Rapport: Building trust and rapport with clients is essential for selling final expense policies. Take the time to listen to clients’ concerns, address their questions, and provide personalized recommendations based on their needs and preferences. Establishing a connection with clients and demonstrating empathy and understanding can help overcome objections and build confidence in the insurance purchase decision.

  5. Emphasize the Importance of Planning Ahead: Many individuals delay purchasing final expense insurance until it’s too late, leaving their families to bear the financial burden of end-of-life expenses. Emphasize the importance of planning ahead and securing coverage while clients are still healthy and insurable. Highlight the benefits of locking in affordable rates and ensuring peace of mind for the future.

  6. Provide Clear and Transparent Information: Transparency is key when selling final expense policies. Clearly explain policy features, benefits, exclusions, and limitations to clients, ensuring they have a comprehensive understanding of what the policy covers. Avoid using jargon or complex language that may confuse clients, and be upfront about premium costs and payment terms.

  7. Offer Exceptional Customer Service and Support: Providing exceptional customer service is essential for building long-term relationships with clients. Be responsive to client inquiries, provide prompt assistance with claims and policy servicing, and offer ongoing support throughout the policyholder’s journey. By demonstrating a commitment to client satisfaction and support, agents can foster loyalty and trust, leading to referrals and repeat business.

By incorporating these essential keys into their sales approach, life insurance agents can effectively sell more final expense policies and provide valuable protection for their clients. By understanding the audience, educating clients on the value of final expense insurance, offering affordable and flexible coverage options, building trust and rapport, emphasizing the importance of planning ahead, providing clear and transparent information, and offering exceptional customer service and support, agents can successfully meet the needs of clients seeking to plan for their end-of-life expenses.

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