Medicare Leads

How to Sell Final Expense Insurance

Getting started as an insurance agent selling final expense insurance can sometimes feel like spinning your wheels in mud.
We at Secure Agent leads have come up with a few tips to help you get off on the right foot — or even help seasoned burial insurance agents get back on the right track.
 

Ask questions to break the ice

 
Figure out your client’s current insurance policies, assets, health and family. This can also help you cross-sell.
Be sure to ask a few qualifying questions as well such as:

  • Have you or anyone in your family had to assist in paying for a funeral? How were those expense handled?
  • Have you thought about your final arrangements? If you don’t have final expense insurance, who will take care of your burial and funeral? How will they pay?

 
This will get your final expense lead to think about the situation more emotionally and help them realize how important final expense insurance is to them.
 

Get them pre-qualified

 
Does your final expense lead qualify? Two things matter here:

  1. Health – Are they eligible for final expense insurance? Certain medical conditions will disqualify an applicant. AIDS, cancer, diabetes, previous heart attacks and more will preclude an applicant for coverage.
  2. Budget – Even if your final expense lead qualifies for coverage, it’s all moot if they can’t afford it. Figure this out and do it early so you don’t waste your time. It will also help you determine which funeral insurance plans fit into your client’s budget. Flat-out ask them what monthly premium they could afford to pay. If they don’t know, give them three options and see how they react.

 
Which leads to another point…
 

Only present three options

 
This is a sales tactic preached in any industry and applies to burial insurance agents as well.
Psychological studies proves that the brain actually doesn’t like tons of options. Giving too many options will more than likely cause a “let me think about it” objection.
 

Build the value

 
Go over the benefits in the funeral insurance policy and do it before you give the price.
Then, let the final expense leads know once they qualify, their price will never change during the entirety of their policy term. Furthermore, their benefit will never change either.
After you get all this done, then you can show the price for their funeral insurance.
 
There’s certainly more insurance agents can do to skill up but these four tips will get you going.
Once you feel comfortable to hit that phone and make some calls, another important thing to have is enough prospects to call.
Secure Agent Leads is the industry leader in final expense leads with leads sent to you in real-time according to your demographic needs. One feature burial insurance agents are excited about: 14% of our leads call the agent first!

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