The Art of Selling Final Expense Insurance Over the Phone: A Guide to Success

Selling final expense insurance over the phone can be a highly rewarding career, offering the flexibility to work from home and earn a good income. 

With the advancement of technology, it's now possible to sell insurance remotely, receiving live transfer leads to pitch to potential customers. In this article, we'll delve into the world of final expense insurance sales, providing insights and tips on how to succeed in this field.

What is Final Expense Insurance?

Final expense insurance, also known as funeral insurance or burial insurance, is a type of life insurance designed to cover the costs associated with a person's funeral and burial expenses. These costs can be substantial, ranging from10,000 or more, depending on the location and type of funeral. Final expense insurance policies are typically sold to individuals who are 50 years or older, with some companies offering coverage to those as young as 40.

The Benefits of Selling Final Expense Insurance

Selling final expense insurance offers several benefits, including:

• Flexibility: You can work from home, setting your own schedule and working at times that suit you best.
• Good income potential: Experienced sales agents can earn a six-figure income, with some agents earning upwards of $100,000 or more per year.
• Low start-up costs: Starting a career in final expense insurance sales typically requires little to no initial investment.
• Opportunity to make a difference: By selling final expense insurance, you can help people plan for and cover their funeral expenses, providing peace of mind for their loved ones.
• The Selling Process

When selling final expense insurance over the phone, the following steps are typically involved:

Receiving live transfer leads: You'll receive final expense live transfer leads from potential customers who are interested in purchasing final expense insurance. We train you to identify if this prospect is a buyer today within 2 minutes.

Pre-Qual: Verify information and what they told the transfer agent prior, give a choice of 2 policies and dollar amounts, ask them which is better.  Ask them if they have the time to go through a 15 min application over the phone right now and take care of this today?

Needs assessment: You do this by verifying the clients info. When you verify their age, say, " Mr Jellyston, you turned 65 this year, correct?" Phrase the questions that way so they tell you yes at least 3 times before you give them the A/B choice

Policy presentation: You'll present the lead with a final expense insurance policy, explaining the features and benefits of the coverage.

Application and underwriting: If the lead is interested in purchasing the policy, you'll guide them through the application and underwriting process. You are filling the application out online while the client is gi

Policy issuance: Once the policy is issued, you'll provide the lead with information on how to pay their premiums and access their policy documents.

Tips for Success

To succeed in selling final expense insurance over the phone, follow these tips:

Be knowledgeable: Make sure you have a thorough understanding of the final expense insurance products you're selling but make sure you control the conversation so you don't work yourself out of a sale.

Be empathetic: Show compassion and understanding for the lead's situation and concerns. Lot's of questions answer could have a negative impact on a sale. Best to control the conversation and guide them through the process with mentioning that taking care of this today will put those worries to bed.

Be professional: Present yourself in a professional manner, using a friendly and approachable tone but at the same time, you need to make sure they are a buyer before giving your precious info out. 

Listen actively: Pay close attention to the lead's needs and concerns, and respond accordingly is the best way to approach counters. You can repeat what they said to you with saying correct at the end, making them say yes. Bring them back around and say, I know you are busy but 15 minutes for an application that could put yours's and you family's mind at ease. SHUT UP!

Follow up: After the initial call, follow up with the lead to ensure they have all the information they need and to answer any further questions they may have.

Conclusion

Selling final expense insurance over the phone can be a rewarding and lucrative career, offering the flexibility to work from home and earn a good income. By following the steps outlined in this article and incorporating the tips for success, you can excel in this field and help people plan for and cover their funeral expenses.

Call Victory Consulting Today to get free leads!