Starting in Final Expense

Discussion in 'Final Expense Forum' started by redzalez, Apr 9, 2007.

  1. redzalez
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    redzalez Expert

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    Whats the best route to take in starting to sell Final EX?
     
  2. GreenSky
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    GreenSky Guru

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    That's a really good question and I hope someone has an answer or two.

    I've tried a number of mailers and always sold enough to cover the costs, but I've never made a profit.

    I tried near my home just outside of Los Angeles, and in a somewhat more rural location. I've used a reasonably high income, and a relatively low income. The results have been the same.

    Many people buy this stuff from Colonial Penn based upon the T.V. ads. Overpriced crap! Lincoln Heritage is the same garbage.

    Any ideas? (I'd love my 19 yr. old son to sell this stuff).

    Rick
     
  3. aufan
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    aufan Super Genius

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    Guys,

    I'm not huge in the Senior market, but my instincts tell me if you are targeting the senior market with final expense as the "door opener"...I think you're gonna get nowhere. I believe the last thing seniors want to think about is their own funeral.

    What I think most of the succesful senior marketers are doing is helping seniors with their Medicare solutions and then introduce final expense as an "oh by the way..." kinda deal.

    Everybody help me out....is that right?
     
  4. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    Thats the only way I sold it. Oh yeah one time I called a lead and the lady said" hey my husband died a couple months back and he didnt have life insurance, can I get some through you?" I love it when that happens. I didnt do good with direct mail for it.
     
  5. LaffAgent
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    Ditto to aufan. Final expense to seniors is not going to be a huge market to lead with. Lead with life and DI for your younger to middle age prospects, LTC and Medicare for the older and senior prospects.
     
  6. James
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    Don't forget, younger people (under 50) like Final Expense type of plans! Something to do about those low premiums I suppose but easy to sell and stay on the books.
     
  7. wilkin
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    Final expense can be an exceptional market but you have to be willing to work lots of leads and door knock when you can't set an appointment. That's hard to do consistently. A few years ago I worked FE direct mail leads and found the people who responded genuinely had interest, but it was challenging getting in front of them. Plus, I think its much easier to cross sell from FE to Med Supp than the other way around. And now with Med Advantage I think FE could be a good door opener to those sales too.

    -Bill
     
  8. johnrocks
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    I have several clients with Lincoln Heritage's med. supps ( including my 86 yr. old mother) and I have yet to get one complaint. The people that have called them; including myself; loves the fact that a real human being answers instead of a computer. Also I love the fact that they have a great lead program ,they pay daily on submission( make sure you write good biz and this won't be a problem) and they have a group health plan for agents, the only co. that I am aware of that has that, even though since I now write more for other companies, I can,t seem to get to the level I need to get their group. But they are getting a bit pricey.
     
  9. senior-advisor-indiana
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    What is thier lead program like john?
     
  10. midwestbroker
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    midwestbroker Guru

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    I am just getting started in the FE business. I am doing the "Just so you know, we do offer FE..."

    So far I have had some interest but no sales yet, but then again it has only been about 1 week.

    What about teaming up with funeral homes? I have called on a few, but they are doing their own pre-needs plan, and not wanting to offer any other type of insurance. Anyone else have any luck with this?
     
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