How can I sell final expense life insurance?

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Fri Oct 24, 2008 3:23 pm   Post subject: How can I sell final expense life insurance?  

Does anybody sell final expense? I just started in the FE field and wanted to know if I could make a living. Thanks!

Mcampbell
New member
Leave a quick message



Joined: 24 Oct 2008
Posts: 42


14.93 Dollars($)

PostPosted: Fri Oct 24, 2008 3:36 pm   Post subject: sell final expense insurance  

Don't know. What is the commission schedule? How many policies do you have to sell each week to make what you need to cover your expenses?



If I remember correctly, FE insurance usually maxes at 25K? 50K? Yearly premiums couldn't be that much could they?



Just for kicks...50 year old male, NS, good health. What would my premium be?



_________________

Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
LifeIsGood
Senior member
Leave a quick message

LifeIsGood

Joined: 22 Sep 2008
Posts: 574


1.30 Dollars($)

PostPosted: Fri Oct 24, 2008 3:43 pm   Post subject: FE  

The policies are from 3k-25k and I am selling and trying to find top agents that want to sell FE. I have been using a lead program that generates final expense leads from a dialer. For a 50 yr old male it would be $11.00 to 72.00 a month. That is 3k-25k and if you would like to sell FE please let me know I get you on a top contract. They pay 9 month advance and the commission would be $900 on a 50 yr old male.

Mcampbell
New member
Leave a quick message



Joined: 24 Oct 2008
Posts: 42


14.93 Dollars($)

PostPosted: Fri Oct 24, 2008 3:47 pm   Post subject:   

Do I assume it is 72 a month fro the 25k policy?



_________________

Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
LifeIsGood
Senior member
Leave a quick message

LifeIsGood

Joined: 22 Sep 2008
Posts: 574


1.30 Dollars($)

PostPosted: Fri Oct 24, 2008 3:50 pm   Post subject: FE  

Yes it is 72 a month for 25k. One good thing about the product is- it is 100% final expense telesales, so the clients can sign up in 15 minutes on the phone. You also get a 30 day free look period.

Mcampbell
New member
Leave a quick message



Joined: 24 Oct 2008
Posts: 42


14.93 Dollars($)

PostPosted: Fri Oct 24, 2008 3:55 pm   Post subject:   

Hmm...I can get someone a 100K VUL for about $85.00 a month. Granted, it takes more than 15 minutes and there is the med test but still...



_________________

Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
LifeIsGood
Senior member
Leave a quick message

LifeIsGood

Joined: 22 Sep 2008
Posts: 574


1.30 Dollars($)

PostPosted: Fri Oct 24, 2008 3:59 pm   Post subject: FE  

I know that is why I wouldn't stick just to FE because the premiums aren't as much as a 100k policy. But I can make more sales because no driving and don't have to worry about no shows. There are positives and negatives. There isn't a med test involved they just have to anwser 4 questions.

Mcampbell
New member
Leave a quick message



Joined: 24 Oct 2008
Posts: 42


14.93 Dollars($)

PostPosted: Fri Oct 24, 2008 11:26 pm   Post subject:   

What the heck is an FE policy? (asked the stupid adjuster)



_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.93 Dollars($)

PostPosted: Sat Oct 25, 2008 6:17 am   Post subject:   

Quote:
What the heck is an FE policy? (asked the stupid adjuster)




Well, I think its another name of the popular Funeral Insurance policy, suitable for the senior citizens. The final expense policy would help the seniors to build asset that may meet the final expenses. And when the funeral expenses may range between $5 and $1,000, it's a worthy purchase for many.
JeremyHolter
Senior member
Leave a quick message

Jeremy Holter

Joined: 06 Jun 2007
Posts: 1185


210.40 Dollars($)

PostPosted: Sat Oct 25, 2008 7:25 am   Post subject:   

The Final Expense Life policy may have a steady premium and may also accumulate cash value that the policy holder can leave behind for the family to meet other expenses, like-taxes and debts.



The Final Expense Life policy is different from the Burial Protection Insurance which typically covers only the burial expenses. Moreover, the final expense insurance doesn't need medical underwriting, i.e. the applicant can avail the benefits against paying the premium without undergoing the medial check-ups which are otherwise required for a life insurance policy.

jeorge
Senior member
Leave a quick message

jeorge

Joined: 07 Oct 2005
Posts: 798


132.85 Dollars($)

PostPosted: Sat Oct 25, 2008 11:00 am   Post subject:   

Wow learn something new everyday. Never heard of this type of policy ever. I am sure someone will disagree with me but when it comes to the Burial insurance why now just go to the funeral home you plan on using and pre set up for your death. Around here you can do that. Even buy your plot and stone.

fireyone
Senior member
Leave a quick message

fireyone

Joined: 07 Jan 2008
Posts: 1986


2.37 Dollars($)

PostPosted: Sat Oct 25, 2008 3:32 pm   Post subject:   

Not to be a buzzkill Mc but...



If you are in good health, don't spend $72.00 per month for a 25K policy.



Pay $85.00 per month for a 100K policy.



_________________

Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
LifeIsGood
Senior member
Leave a quick message

LifeIsGood

Joined: 22 Sep 2008
Posts: 574


1.30 Dollars($)

PostPosted: Sat Oct 25, 2008 7:34 pm   Post subject:   

Yes,



I've been in the FE market exclusively for about 6 years. It is a very good and easy niche market. As far as income, I work part time about 15 hours a week and earn a little less than 40,000 per year. As a first year agent, I would

1. Find a reliable lead source

2. Work no less than a 40 hour week.

3. Find other people in your area that also sell FE

4 Learn from them



I usually charge the lead cost to my as earned account. If you can find someone to do this for you, it will come in handy(No out of pocket expenses).



FE is a very fun market to work.



Good LUck



Scott


_________________
Register Now to have your Insurance queries solved.
Guest







PostPosted: Sat Oct 25, 2008 7:43 pm   Post subject:   

A FE (Final Expense) policy is just that, A small policy which enlarges the customers estate. This policy can be used for Burial, Cemetary, Medical Deductables, or just about anything.



Also mentioned here are pre-need plans. These have a contract with a funeral home. These are also life insurance policies however most have some inflation protection built in (from 3% to 5% per year). The safest thing about these policies is that they are contracted with the funeral home to pay for the Funeral (pre-need). They also cost more than final expense policies.



As a general rule more poor demographics purchase Final Expense and more wealthy ones purchase pre need.



HOpe This Helps



Scott

psrayburn
New member
Leave a quick message



Joined: 22 Oct 2008
Posts: 31


12.51 Dollars($)

PostPosted: Sat Oct 25, 2008 9:16 pm   Post subject:   

If you're not careful...you also pay taxes on the pre arrangement plans with the funeral home...Grandma, and my mom and step dad found this out the hard way!



_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.93 Dollars($)

Quick Reply
Your Name
Subject
Message body
All times are GMT
1, 2, 3, 4, 5  Next  
Page 1 of 5


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

AmPmInsure on Facebook



Page loaded in 3.892 seconds.