Educate Your Clients on Final Expense Insurance

May 4, 2021 | Final Expense and Burial Leads, Insurance

Final Expense insurance can sometimes be overlooked by clients when they think about insurance policies. Your clients must understand this type of insurance and how it will improve the quality of life of their family members after their death. Make sure to explain clearly that Final Expense insurance covers the expenses associated with funeral services and other after-death debts, which can be financially crippling for loved ones left with high bills.

Your clients want to ensure that their final expenses are covered and that they do not leave their loved ones with a bill they cannot pay, and you can help them.

Explain The Costs Of Final Expenses

Explaining the concept of Final Expense insurance is integral to the selling process. Explain to your client that Final Expense policies can help cover expenses associated with caring for their body after death. This includes but is not limited to, the costs of cremation or embalming, burial, headstones, and other debts they may have left behind.

Additionally, the total cost of funeral expenses is, on average, $9,000. In many cases, the client’s family would struggle to pay this amount alone, not including any other debt or expenses your client may leave behind. Explaining these hefty costs will help your client understand why they need Final Expense insurance.

Tips On Getting The Sale

It is crucial to establish a personable relationship with your client and insist that you seek their best interests. In the age of cyber-insurance scams that target an older audience, your goal is to make your client feel at ease. Agents can achieve this by displaying credibility, conversing, and responding to concerns openly and honestly.

Present every option to them and explain the fine print. Transparency is crucial when trying to sell Final Expense policies, and doing so will create a more trusting relationship between you and the client.

After all, once the sale is made, the client and their family will be left with the policy. By listening and adapting to their needs, you can ensure their satisfaction. Clients who show honesty and transparency are more likely to recommend you to others. This attention to the client translates to a good reputation for you and your company.

Why One Might Get Final Expense Insurance

There are many reasons why someone should get a final expense insurance policy. The primary benefit is that your client can make sure their loved ones are not left with thousands of dollars to pay after their death. Explain to your clients that the peace of mind from knowing everything will be taken care of after their death is well worth the monthly cost of a final expense insurance policy.

Remember that an insurance policy is an intangible good, so make sure your clients completely understand its benefits.

Always Make Sure…

• To be honest
• To be enthusiastic
• To develop rapport through conversation with your client
• To be professional.
  • Explain that you are licensed and be prepared to present documentation if requested
• To communicate clearly
• Your clients feel comfortable
• To check if your clients qualify for a better policy than they already have
• To explain what makes you different from other agents
  • For example, if you are a broker, make sure the client knows that you have access to additional carriers that can help them get the best coverage
• To listen to your clients and ask them: “What would you want a policy to do for you?”
• Your clients know that you will get them the best coverage (even if they are on a fixed income)
• To be transparent with your clients and explain the fine print
• To put all options forward. This gives clients the ability to choose a policy that is best for them
• To explain what makes you different from other agents.
  • For example, if you are a broker, make sure the client knows that you have access to additional carriers that can help them get the best coverage
• To sell value, not price

Call Lead Concepts for exclusive final expense leads for your business.