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Is Final Expense Telephone Sales for you?

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Is Final Expense Telephone Sales for you?

Final Expense Telephone Sales is a great way to earn over $100,000 per year, for the right person!

In this article we’re going over all the basics to final expense telephone sales. Soup to nuts! In other words, we’ll be covering a lot of information, so if you’re thinking about selling final expense life insurance over the phone, this article is for you. Beware, there are a lot of companies that will take advantage of you. There’s a lot of agencies that are also scrambling to be significant in the final expense telesales industry and are putting out terrible presentations. This is why you need to read this article.

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We’ll be covering the following topics, and more.

Why you should sell final expense over the phone

The income of a final expense telephone sales agent

The presentation, what works and what doesn’t work

The type of personality that can sell over the phone

The best leads for final expense telephone sales

Final expense telesales as an independent agent

The learning curve for final expense telesales

Why most people can’t sell final expense over the phone

How to make six figures at final expense telephone sales

Why even consider final expense telephone sales?

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There are a lot of pro’s about selling final expense over the phone. One of the main things is that you don’t have to drive around. The top producing final expense agents, that sell face to face, do a lot of driving. It’s normal for most field agents to travel out of state, or at least a few hours away. Hotel stays are par for the course. With final expense telephone sales, you work from home. There’s no wear and tear on your car. No hotel visits and no travel costs. You wake up, work, live, sleep, and eat right from your office. I often hear agents say how the difficult part of working from home, is that they can’t get away from the family. In most cases, when it comes down to it, working from home is just easy.

Final expense sales has a nice residual attached. Well, only if you’re an independent agent! If you’re thinking about getting involved with a company that specializes in final expense telephone sales, beware! Most companies will take your residuals and make you feel like you work for them. Therefore they micromanage you, and if you don’t work out, they keep your clients and residuals. Everything we do at United Final Expense Services is designed to help you make more money. We believe you should be vested on your first day. That means you’ll get residuals from everyone you sell, no matter how long you work with us. The sales you make belong to you, not us. Everything you sell is yours, and your clients and the residuals that come with them, are yours to keep. The residuals build up really nice when you’re selling final expense as an independent agent.

The Final Expense Telephone Sales Presentation!

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I find it interesting how a lot of agents think they can buy some leads, get on the phone, and just make sales, with no final expense telephone sales experience. I mean think about it. When you go out to sell final expense face to face, it takes time to build rapport. One of the things we talk about the most, is the importance of building rapport. So if you don’t have a telesales presentation that’s designed to build lots and lots of rapport, why would you think you can be successful at final expense telesales? This is why our final expense telesales presentation is long, 20 pages long. I mean, by the time you get to the pricing part of the presentation, it’s like you and the client are friends. You know a lot of information about them, and they know you too.

Unfortunately, there are a lot of companies that are trying to do final expense telephone sales with limited experience or success. They’re putting together the best presentation they can think of, so their agents can do final expense telesales. The problem is, most of these presentations, about 95% of them, are really terrible. Think about it. If you’re in house presentation takes around 45 minutes, shouldn’t your telesales presentation take just as long? I mean how in the world are you going to build enough rapport in 15 minutes, to sell someone something that they will never actually be able to touch or feel? Life insurance sales and final expense sales just doesn’t work that way. It takes time to build trust and rapport. If your prospect doesn’t “feel you”, they definitely won’t give you their social security number and checking information. Especially over the phone!

Who has the right personality for final expense telesales?

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Since there are a lot of moving parts, final expense telephone sales is definitely not for most people. Well, most people couldn’t sell a fat kid a free piece of cake. That’s why you hear people make statements like, “I could never live off of commission”. The thing is most people can’t live off of commission because they simply won’t put in the time it takes, to learn how to sell a specific product. Even final expense, the easiest thing I’ve ever sold in my lifelong sales career! I love sales because it’s the easiest way to make more money than 90% of the people that have normal jobs. I mean working for yourself has a lot of pro’s. The money is just part of it. What I love the most is what I can do, now that I’m making more money than I ever dreamt I’d be making.

It’s not just about being a talented salesperson either. Again, with final expense telephone sales there are a lot of moving parts. One of the characteristics of a successful final expense telesales agent, is the ability to multitask. Let me just say this. If you aren’t very good with a computer, you don’t have a chance at final expense telesales success. When you’re on the phone with your prospect, you’ll need to pull up the pricing, check the underwriting guide, and check on each of the client’s medications. You’ll also want to verify their checking account and sometimes make a three-way call to their local bank, if they don’t have the account number. Then there’s the three way call you’ll need to do with the insurance company to get them approved! Meanwhile, you’re reading a 20-page presentation while taking notes on everything you’re talking about.

check 300x273 - Is Final Expense Telephone Sales for you?What are the best leads for final expense telesales?

Yes, you have many options. With final expense leads, you have different types of leads with different prices. The two leads that are usually used the most are the final expense telemarket leads, and the final expense Facebook leads. I would suggest using telemarket leads for final expense telephone sales for a good return on investment. At least if you’re having to buy your leads. If you can generate your own Facebook leads, then that’s a different story. You can often generate a high-quality final expense Facebook lead for under $10 each, if you’re targeting whole states. If you have to buy your leads, then I would suggest sticking with the telemarket leads. You might not be able to reach about half of your Facebook leads but the telemarket leads have already answered the phone once, so they’ll be easier to get back on the line.

The best leads you can get for final expense telephone sales, are going to be either TV leads, or live transfers. Final expense live transfers usually cost around $35 and can be purchased through several vendors. The agents on our sales team actually get them for around $20 each. This is the most commonly used lead for serious final expense tele sales agents. Why? Well, TM leads are more expensive and difficult to generate for an independent agent. In order to get live, inbound TV leads, you have to be contracted in around 20 state. You also have to be able to purchase at least 50 leads a week and be able to deal with more than one call coming in at a time. Think about it. They run the TV commercial and everyone calls at once. What’s cool, is you’re the one answering the phone.

Why doesn’t everyone do final expense telephone sales?

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Well, there are a lot of reasons. Most people just don’t have the patience that it takes to work through a long presentation. The presentation must be designed to build lots and lots of rapport. Our final expense telesales presentation is 20 pages long. By the time the agent is ready to give the prices, around 45 minutes has passed. The amount of rapport that’s built up during our final expense telephone sales presentation, is huge. Multitasking skills are important for final expense telesales success. Agents that are really good at multitasking, can handle all the stuff that goes on during the telephone presentation. Looking up medications and  ailments, verifying the clients banking info, doing a three-way call to the bank when necessary, and of course doing the pricing and phone interview. That’s just all par for the course.

Some agents don’t seem to be willing or able to purchase good quality leads, or final expense live transfers. If you buy some cheap telemarket leads, and you don’t have a good presentation, you might not make any sales. Then, you’ll be turned off of the whole process. You most likely, wont buy more leads, and will likely give up. There is also a learning curve involved. A lot of independent agents won’t stick around long enough for the light to come on. It’s one thing when you go to work and are micromanaged with someone standing over you. It is another thing when you’re being self-motivated and are only going to succeed if you keep pushing, and keep working leads. This is why many agents think they’re independent, but they’re really not. Final expense telephone sales can be done as a captive or independent agent.

How much money do final expense telephone sales agents make?

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The answer to that question can be broken down to several things. It all depends on how good or bad the agent is. If they stick around long enough to get through a 2-month learning curve! You also have to factor in the leads. Does the agent stick around all the way through their first year? Do you have a good work ethic or an amazing work ethic? Are you following up on your non sales? What kind of leads are you using? Are you working live transfers or final expense telemarket leads? What about Facebook leads? Is the agent working full time or part time? Does the agent work 40 hours per week, or more like 60 hours per week? Yes, there are a lot of factors to consider. This is why you will see final expense telephone sales agents making $30,000 per year to over $150,000 per year.

Let me make this easier for you. Let’s assume you’re working my platform. You work from home, put in 40-50 hours per week, and are really good at follow up. You’re doing soft touches to your potential clients, 4 to 5 times and are not just trying to survive off of one sale closes. Each week you work 20-25 live transfers. Year in, year out! You’re a dedicated professional. Agents working this system consistently make $70,000 to $90,000 their first year, and over $100,000 each year after. By the second year, there’s no more learning curve and now you’re getting renewals. At this point, I would consider you a career agent. All the hard work and dedication has come together, and you’re reaping the financial rewards that come with it. Career final expense telephone sales agents make more money than 90% of the population will ever make.

What about our typical final expense telephone sales clients?

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This is a good question. Now, for me to answer it, I have to lay it all out for you. First, let’s talk about the prospects. Your typical final expense client’s are on a fixed income. That means they’re usually living check to check on limited monthly funds. Most of the sales I make, are to people that don’t work. Our clients often have multiple health issues. They’re usually folks that have procrastinated their whole life, and haven’t taken care of their final expenses. Many of them have had life insurance in the past, but have let it lapse, or had term life insurance, and the term is either over, or ending soon. These people have family that will still get stuck with the funeral bill, if nothing is done about it. Doing final expense telephone sales is a great way to find and sell to these people.

Another important thing about our clients, is that their income rarely changes. If their monthly income does change, it’s only going to be by a few dollars. Remember, in most cases, our clients live off of social security. Most of the people we sell to, don’t have additional income coming in. Unfortunately, they didn’t work good jobs or have strong careers. No pension or retirement check! Not only that but our typical clients are usually uneducated and have lived their lives avoiding responsibilities. Now they’re old, and regretful, and ripe for the picking. As we get older, we tend to get a conscience. And when we go our whole lives ducking responsibilities, we often try to make up for it, later. Buying a life insurance policy that will help our children can often be a way that this is done. These folks are perfect for final expense telephone sales.

Is final expense telephone sales a recession proof industry?

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Well yes it is. Not only is it recession proof, but it’s Corona virus proof. Remember, our fixed income seniors are not losing money by staying home during the virus. They’re also not expecting more money to suddenly start coming in, through social security. In no way does the economy change anything for our typical final expense telephone sales clients. By the time most people are at retirement age, they are retired. That means they’re doing everything they can to avoid work. Unfortunately, as usual. And as I mentioned before, they still have family that will have to pay a funeral or cremation bill. For our fixed income seniors, paying a couple thousand dollars for anything doesn’t work. They just don’t have money saved. This is why it make sense for them to make a small monthly payment, that guarantees their family doesn’t get stuck with the funeral bill.

Now, I’m not saying this is the same for everyone. I personally know people that are at retirement age and who are responsible. These folks have actually worked their whole lives and have planned their retirement out. Unfortunately, they are being effected by the Coronavirus. Not only that, but the recession will delay their retirement. It’s all because of what ‘s going on with the stock market right now.  401 K’s have imploded and lost 20 to 35% of their value. The good news, is that most of these folks will still be able to retire. It’s just going to take a few extra years for the money to come back. The bad news is, some of these folks will not have the retirement that they’ve been saving for and have earned. Again, this is not our typical client. Our typical final expense telephone sales clients have not planned their retirement.

Is final expense telesales for you?

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We all have different personalities and everybody’s different. Some things I’ve noticed about successful people is that they all tend to keep going, no matter what. Success comes from within. At least, that’s how I feel. You either have the “do what it takes” attitude, or you don’t. That doesn’t mean this will change. I was a slacker during a good part of my life. It took financial desperation for me to change, and once the money started coming in, I never looked back. I’ve worked with a lot of independent career agents that have been super successful. I have also seen a lot of agents fail. Most failed because they didn’t stick around long enough for the light to come on. Some, we’re just on the brink of success, and still walked away. So here’s a few questions to ask yourself about final expense telephone sales.

Are you willing to do whatever it takes to be super successful?

Will you put it all on the table and never surrender?

Are you the type of person to give up after just a few weeks?

Dig deep and you will find the answers. Come to the conclusion that you are the type of person that will do what it takes to be successful. If this is you, please contact us. I’ll be more than happy to get you set up on our final expense telesales platform. We’ll be more than happy to teach you how to become a six figure earner at final expense telephone sales. You can call our 800 number, email me direct at [email protected] or just fill out the information form on our website. Someone from my office will be in touch.

Douglas Massi

Douglas Massi has written more than $400,000 of AP in a single year. Accolades include Top Agent 2014 5 Star, Top Producer 2015 Security National Life, Top Producer 2016 Security National Life, Top Producer 2017 Security National Life

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