What's The Best Type of Insurance to Start Selling?

[Warrior]

This is wrong info. Very few funeral homes sell Final Expense Insurance. They mostly sell Funeral Pre-need insurance which is a way different product.

Regular insurance agents (anyone with a life license) can sell Final Expense insurance. It’s a very popular niche that many new as well as experienced agents focus on.

Read the “Getting Started with FE sales” thread on my website www.FexContracting.com

It may change your life.

Final expense is sold by funeral homes. I used to sell it. It's when a family buries a loved one, and the funeral director sees an opportunity to get the rest of the family covered. If they can't get the pre-need sold, they sell the life insurance instead. I sold it for several years. Made really good money too. BUT I could not sell it remotely (at home making telemarketing calls) I had to be there in person because life insurance is very emotional.

If you want a "remote" job in insurance, start selling med sups with a company. There are many out there.

 

[Life Hawk]

Final expense is sold by funeral homes. I used to sell it. It's when a family buries a loved one, and the funeral director sees an opportunity to get the rest of the family covered. If they can't get the pre-need sold, they sell the life insurance instead. I sold it for several years. Made really good money too. BUT I could not sell it remotely (at home making telemarketing calls) I had to be there in person because life insurance is very emotional.

If you want a "remote" job in insurance, start selling med sups with a company. There are many out there.

And if you did... most likely many of your clients went modified/graded when they didn't need to be...

 

[Newby]

Final expense is sold by funeral homes. I used to sell it. It's when a family buries a loved one, and the funeral director sees an opportunity to get the rest of the family covered. If they can't get the pre-need sold, they sell the life insurance instead. I sold it for several years. Made really good money too. BUT I could not sell it remotely (at home making telemarketing calls) I had to be there in person because life insurance is very emotional.

If you want a "remote" job in insurance, start selling med sups with a company. There are many out there.

The wording of your post made it sound as though an agent wanting to sell FE needed to get with a funeral home to sell it. Funeral Homes CAN sell it but very few do. And in certain states they are not even allowed to.

The huge majority of FE policies are sold by agents with no connection at all with funeral homes.

I understand that your experience was the exception. Mine was too.

 

[Warrior]

And if you did... most likely many of your clients went modified/graded when they didn't need to be...

Nope. I gave them a great policy that was affordable and was never modified or graded. I'm a real salesperson. I care about my clients needs before my wallet. If I could not fulfill their needs, I would refer them to an agent who could.

 

[Life Hawk]

Nope. I gave them a great policy that was affordable and was never modified or graded. I'm a real salesperson. I care about my clients needs before my wallet. If I could not fulfill their needs, I would refer them to an agent who could.

So glad to hear that...

 

[Jenny Davis]

Markthebroker, who do you work for? I am interested in selling commercial P&C

 

[Markthebroker]

Markthebroker, who do you work for? I am interested in selling commercial P&C

I am an independent broker (I own my own llc) and I operate out of a good sized brokerage house that's through a large cluster.

 

[KRobby]

Go to a funeral home and tell them you would like to start selling final expense insurance. They are the folks that usually sell it.
Mortgage Protection Insurance is also good to start selling.

Eighty-nine percent of all new final expense premium were sold through independent distribution.

 

[KRobby]

I hear "final expense" is a good place to start, if so, where's a good place to start selling "final expense"

It's popular on the forum, but the forum representative is a very small and skewed spectrum of agents.
Life insurance premium sold: 142,275,947,000
Final expense premium sold: 592,000,000
Final expense makes up less than 1/2 of 1% of new life premium.

 

[-Joe-]

I would say read the forums for a while and you would know which type of insurance was the best fit, but that advice wouldn't have helped at all in my case.

I had a "master plan" to sell Med Supps and FE with some annuities and senior products mixed in. When I actually got contracted and got comfortable with the product knowledge I bought a few leads realized that 1) I hated the presentation/sales pitch. 2) I would rather network and work with folks my own age. 3) I wasn't sure if I was convincing myself that I was helping people or just trying to make the sale.

I wasted a good deal of time and money, but quickly transitioned to P&C and I couldn't be happier. My focus is on commercial clients as well. I am getting my little independent agency off of the ground one step at a time and it feels great.

The point is, there are dozens of agents here making a killing with all of the different product types, but I think that you need to really think about the end game and what you would enjoy doing with your time. There is definitely a learning curve in any direction, so try to pick one or two products and master them. You can make a great living eventually with any type of insurance, but things are going to be tough for that first year or two.

If you decide to go FE, then find a good IMO that will put you on a direct mail campaign and give you decent commission levels. Plan on investing a few thousand bucks on a regular lead order to get things moving (if your cash flow dies you're out of business) You can do it over the phone, but I think that's a really bad way to start personally. There are plenty of awesome mentors right here on the forum, but I would interview a few of them and see who you mesh with. Oh and don't forget to find Dave Dufford on YouTube. He was easily the #1 best resource I had when I decided to make this career move.

Last item... pay attention and you will notice that there is a ton of "passive" recruiting going on in the FE/Medicare world. Don't sign on with anyone until you can compare your options. Check out Todd King and FEX Contracting if you want to see what a respectable and agent friendly IMO should look like.

Best of luck!!

Joe