Pre-need(Final expenses)

Discussion in 'General Insurance Agent Discussions' started by agent007, Oct 17, 2006.

  1. agent007
    Offline

    agent007 Expert

    Posts:
    54
    Likes Received:
    0
    Anyone offer this product? If so what companies are great to talk to about offering this? Appt process too please. Thanks.
     
  2. James
    Offline

    James Guru

    Posts:
    2,152
    Likes Received:
    0
    Are you already apointed with a life company? Most have a small 5-25 grand Non Participating W/L Contract that is basically what Final Expense is.
     
  3. Superchief
    Offline

    Superchief Guru

    Posts:
    462
    Likes Received:
    0
  4. arnguy
    Offline

    arnguy Guru

    Posts:
    7,786
    Likes Received:
    12
    State:
    Pennsylvania
    There are quite a few carriers that sell FinalExpense (a/k/a Burial Insurance). Some are: Lincoln Heritage, Union Bankers, National Guardian, Woodmen of the World, Transamerical Occidental, and Guarantee Trust Life. They may not be licensed to sell this product in your state. Pre-Need is a different matter. In PA, an agent must be licensed as both an insurance agent and a funeral direcxtor to write Pre-Need as opposed to only being required to be insurance licensed for Final Expense. I believe this same requirement is true in NC. Forethought Life Insurance Company of Batesville, IN writes Pre-Need exclusively.
     
  5. agent007
    Offline

    agent007 Expert

    Posts:
    54
    Likes Received:
    0
    Thanks for all the replies.
    Yes I sell life but I had a client last night specically ask for pre-paid funeral insurance.
    I usually just add 15-20K in the coverage for this. Didn't know if there was a diffence in policies.
     
  6. James
    Offline

    James Guru

    Posts:
    2,152
    Likes Received:
    0
    Pre paid funeral is different, send them off to see the business manager of their favorite funeral home. Or go see them yourself and work with them.
     
  7. arnguy
    Offline

    arnguy Guru

    Posts:
    7,786
    Likes Received:
    12
    State:
    Pennsylvania
    Forethought Life deals directly with funeral homes and offers a one pay plan as well as 5 year and 10 year payment plans. Also, they offer a graded death benefit plan for those who would not otherwise qualify. It might pay to check out their website.
     
  8. agent007
    Offline

    agent007 Expert

    Posts:
    54
    Likes Received:
    0
    I talked to the local funeral home and they told me that forethought was their carrier. Something about Texas laws have changed the way they do biz now. Used to have agents to sell through the funeral homes but now they sell only through the funeral home direct. But I have kept things open with Forethought to see if I could be involved someway or another.
     

Share This Page