Why Consider Final Expense Insurance Leads?Why Consider Final Expense Insurance Leads?

Agents have many choices when it comes to selling insurance. From an agent's perspective, each type of policy has its own benefits and drawbacks. Certain policies are easier to sell, while others provide higher commissions. Although Final Expense insurance is not always highest on an agent's list of policies to sell, it is definitely worth checking out. Just consider the usual steps required to earn commission on a universal or whole life insurance policy:

setting several client appointments
constructing policy illustrations
completing application
sending application to regional office for approval
setting client medical appointment
obtaining client's medical records
supervising the policy underwriting
handing over the policy once it is approved
submitting delivery requirements to regional office

The entire process can take some time. You can expect the time from your initial client appointment until you receive commission to be as long as ten weeks. This is one reason final expense insurance is worth considering. Completing a final expense insurance policy generally requires far fewer steps. This means you can get paid for your policy and move on to the next one without so much time elapsing. Here are the typical steps involved in this type of insurance policy:

We suggest purchasing online final expense insurance leads
set up a single phone interview
write up the application
complete a phone underwriting question sheet
submit application to regional office for approval
handing over the approved policy

The process from the time you contact your final expense lead prospect to the time you close the deal is much shorter for this type of insurance policy. This means you can expect your commission in as little as two or three weeks instead of two months or more. Additionally, commissions tend to be quite large for final expense insurance. This is not always obvious to inexperienced insurance agents. But the truth is, you can expect to earn more from selling a ten thousand dollar policy to a senior than you can from selling a half-million dollar policy to someone in their twenties. This is because the elderly will be paying much higher premiums on their policy.

Final expense policies are worthwhile in other ways too. The typical buyer for this type of policy is a senior citizen. This demographic is much more likely to be consistent in paying their premiums. For a senior, the final expense policy is very important; they expect to use it before too long, and so they make sure they keep the policy. Younger people with insurance policies are not so reliable. Indeed, to someone with so many expenses and bills, especially in tough economic times, an insurance policy may be deemed unnecessary. This can cut into an agent's profits, especially if the policy is cancelled within the first year, which could result in a charge-back. So if you have not included final expense insurance leads in your insurance business plan, you might want to consider it. It certainly has the potential to add to your profit!
by Todd Erwin
References and Bibliography
At Top Pick Leads we know that Final Expense Insurance Leads can be a tried and true staple of a successful insurance agent's business. They can lead to a lucrative source of income or they can be a costly drain on your budget. Which is why we have reviewed the major online Final Expense Leads providers.
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