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Already selling insurance products? If you’re already licensed, why not offer Final Expense Life insurance?

There are a lot of insurance agencies that specialize in the final expense market, who just don’t seem to pay their agents very well. Most of these same agencies don’t even offer first day vesting. This means, if the agent doesn’t stick around for the first couple of years, they lose all of their renewals. Sounds more like a hostage scenario, than an insurance sales position if you ask me! Most of the competing agencies here in the Fort Lauderdale area pay between 55% and 85%. Some even pay a lot less. Is this normal?

Unfortunately, this is normal with most captive agencies. They tend to prey on newly licensed or unlicensed agents, presenting them with the best case scenario. The problem is that this “best case scenario” is often completely out of reach because of the contract levels and poor lead programs. Sadly, these agencies can justify this because the simple fact is, “most people will not do what it takes to be successful in sales”. There, I said it! It’s not always about the leads, or the training, or the contract level. Without a strong work ethic, none of that matters!

What does it take to be successful? In the final expense industry, it takes the right combination of several things to be successful. Here is my personal list of things that can greatly increase your chances for success, in the final expense industry.

  • A strong work ethic
  • Access to training and sales support
  • A direct mail lead program
  • Competitive carriers
  • Street level contracts
  • A strong work ethic

What does the typical day of the final expense agent entail? In our industry, the usual activities are calling to set appointments, door knocking leads, making presentations, saving cancellations, and servicing our clients.

What is the target market for final expense sales? We actually sell most insurance to low income retirees. A lot of our clients are barely getting by each month surviving off of social security, alone. Without the insurance, their families have no way of paying funeral or cremation expenses. Sadly, many of our clients can’t take very good care of themselves and live in a rather unsanitary environment.

What kind of money can I make selling final expense life insurance? It seems like most of the successful agents are making around $50,000 and up. With the system that I use, it is possible to have a six figure income. This is due to the high contract levels we start our agents at along with our direct mail lead program. Agents that have new direct mail leads, every week, are more likely to be successful than those who don’t. We know that most agents who do not use direct mail leads, will either fail out of the industry or end up earning around $30,000 a year.

Douglas Massi

Douglas Massi

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