Final Expense Insurance Leads - Unveil The Hidden Profits Novice Insurance Agents Tend To OverlookFinal Expense Insurance Leads - Unveil The Hidden Profits Novice Insurance Agents Tend To Overlook

When you're an insurance agent, you have all kinds of options to sell; each kind of policy has its positives and its negatives. Some policies will be easy to sell; some will provide you with high monetary returns. Most agents don't view final expense insurance leads as the "must sell" policy but it's something that should be looked into. Why? Consider the steps an agent must take to earn the commission on universal or whole life insurance policies:

- Set up quite a few client meetings - Devise policy illustrations - Application completion - Waiting time for application approval by regional office - Set up for client's medical appointments - Obtain medical records of client - Supervise the underwriting of policy - Handing over policy once approved - Submission of delivery requirements to the regional office

This entire process takes a bit of time; sometimes it can take up to 10 weeks from the time your client had his/her first appointment until you receive your commission for the policy.

Why Should You Consider Final Expense Leads To Get More Final Expense Policies

While it may seem tedious to do final expense policies, there are fewer steps to complete. What does this mean? It means you get paid for the policy and can move onto another one without letting so much time lapse. There are five steps with this kind of insurance policy. They are:

- Set up of phone conference - Write up of application - Completion of phone underwriting question sheet - Application submission to regional office/waiting for approval - Handing over of accepted policy

Commissions On Final Expensive Insurance Policies

As you see, the process for final expense insurance leads and policies takes far less time than whole life insurance policies. Thus, you can get paid your commission within two to three weeks rather than waiting two or more months.

Commissions with final expense insurance policies are usually much larger than other policy types. Novice insurance agents generally overlook this money making commission policy. In reality, an agent will make more money from selling a senior citizen a $10,000 final expense policy than selling a 20-something year old a $1 million policy. Why? Senior citizens are going to be pay a higher premium than the 20-something year old.

Other Reasons To Sell Final Expense Policies

There are other reasons as to why an agent such as yourself should deal with final expense policies. Since senior citizens will be the likely holders of such policies, they are often more reliable in paying because they know they'll need the policy in the near future.

However, the younger generation is not always so reliable in paying for their policies. When someone has a lot of expenses and debt they must contend with (especially in a tough economy), the first thing a person will get rid of is the extra expense of a "final expense" policy. When the cut is made (sometimes in the first year of the policy), it could cut the agent's profit; worst case scenario is that there is a charge back of the policy.

If you don't already have a final expense policy included in your insurance business plan, you should think about doing so. After all, there is some real potential to make money.
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 online final expense insurance leads providers. Visit our site now to find out who we chose as our TOP PICK providers.
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