What is Final Expense Insurance?
Final expense insurance is designed to cover the bills that your loved ones will face after your death – think medical bills and funeral expenses. Final expense insurance is also known as burial insurance, since even bare-bones funerals cost thousands of dollars.
Who is our target market?
We can insure almost anyone age 0-85. Most can qualify even with existing health conditions.
How do people qualify?
We fill a one page application with 9 health questions; there are no health exams necessary to qualify for the insurance plan. Almost everyone qualifies for our plan, even with current or past health issues.
Can I make great money selling only final expense?
Yes, for example: Our average premium per application is $45 = $405 in total commission.
If you generate 5 applications per week, how much is your profit? Do the math
When will the company pay commissions?
The company pays commissions daily (Monday -Friday).
Do you have charge backs?
Yes. All insurance companies have charge backs if the client cancels within their first year, however we finance the charges. For example, if you owe $ in charge backs most insurance companies will not pay your commission until the balance is at zero. We only withhold a small percentage of your commission to pay the charge back for you to continue making a profit, so you make more money.
Do you have Leads and how does the lead system work?
Yes, we give you leads at no up-front cost to you. After you sell a policy we will withhold a percentage of your check each time you submit business, if you owe lead costs.
Do I have to be Captive?
Yes and No. To protect our lead system, you are not able to represent any other insurance company that offers final expense insurance. So long as the insurance company that you represent does not offer final expense insurance, you will be allowed to represent our agency.
Do I have to pay for my own materials?
No, the Company provides you with almost all the materials that you will need including brochures, pamphlets, application forms, and folders you leave behind with your clients
Does your agency provide training?
Yes, we offer extensive training through the form of one on ones, daily conference calls, weekly seminars, and on the field training
What if I don't have my license and can't afford getting it,
are you able to assist with the costs?
We have a scholarship training program to assist with the costs. This may be a limited time offer with separate terms and conditions. We handle this on a case by case basis and you must speak to a manager for further details.
WHY IS FINAL EXPENSE CONSIDERED TO BE
A “RECESSION” PROOF BUSINESS?
It’s Economics 101 / Supply and demand… Approximately 10,000 retirees turn 65 every day according to the US Census Bureau. By 2030, the 65-plus population will exceed 70 million.
We offer a product and a service that the senior market wants and needs.
HOW MUCH MONEY CAN I MAKE SELLING ONLY FINAL EXPENSE?
It varies and really depends on you. Many agents can make $50,000 – $80,000 in their first year and we’ve seen agents earn over six figures in their first full year. But it’s all about the opportunity to earn residual income that comes in the following years that is attractive to most agents.
IS THERE ANY COST TO START?
Sure. You are responsible for your licensing (if unlicensed), your business cards, and your leads. The lead cost is financed (at 0%) and taken out of your commission
as opposed to coming out of your pocket upfront.
WHAT DOES IT TAKE TO GET A HIGHER PERCENTAGE CONTRACT?
Production! Everything is based on personal production. Policy persistency is equally important as we/you want the business to stay on the books! There is equal opportunity for everyone in the company to progress and receive a higher contract level but it all starts with consistent production.
WHY DOES THE LEAD SYSTEM WORK SO WELL?
Lincoln Heritage walks the line of obtaining the best quality lead for the cheapest possible price. Leads are exclusive to the agent and a “pre approach” letter precedes you at the door, putting the potential client on notice that an agent is coming out to see them. ALL top producers work the lead system on a high level.
CAN I GENERATE MY OWN LEADS?
Of course! In fact, it is highly encouraged. We have many agents doing group workshops
and weekly seminars. Agents who do these can generate their own leads and referrals.
WHAT LICENSE IS REQUIRED?
You need a Life only license. 40 hrs Life (required) . Visit our Get Licensed page for more information.
HOW LONG DOES IT TAKE TO GET LICENSED?
It depends on you and the state you reside in. We’ve had agents pass the state exam within a week but then have to wait for the state of California to process the license. One month is typical but it could be more or less. Some states will process your license in less than a week!
WHAT IS THE AVERAGE MONTHLY PAYMENT FOR A POLICY?
$45-$55 per month though we can go as low as $15/month.
WHAT IS THE AVERAGE FACE VALUE OF A POLICY WE WRITE?
Typically $7,000 to $10,000 (about the average cost of a funeral according to the National Funeral Directors Association) though we go up to $35,000 for those who qualify.
WHAT TYPE OF LIFE INSURANCE DO WE SELL?
We sell a whole life Final Expense Policy. These policies have cash value, no increasing premium, and no decreasing death benefit amount so long as premiums are paid. Most qualify, even those with
significant health conditions.
WHAT IS LEAD FINANCING?
Lead financing means that we issue the leads to you with no up-front cost. You receive your leads and go to work and pay for the leads as you produce and write business. And NO… the company does not charge interest on your lead cost! 0% financing… Again, ALL top producers take advantage of this system.
WHAT DOES HEALTH/DENTAL BENEFITS COST?
Qualifying for benefits is based on your level of production. If you qualify at the highest level, it runs $150/month for a single person or $400/month for a family plan. It’s quality PPO insurance plan.
WHAT IS A TYPICAL DAY/WEEK LIKE?
Our agents are out in the field 5-6 days a week with 10 to 20 leads per week (if available). 3 presentations per day is a minimum goal but even a 30% closer can average one deal per day. 1-2 applications per day are doable if full time.
WHAT DOES IT TAKE TO EXCEL WITH YOUR COMPANY?
A great attitude; NO ego; Willingness to do whatever it takes to succeed; Focus; Self Discipline; Persistence; Determination; Ability; Being Personable; Loving People; and Serious Work Ethic for starters!
THIS IS, WHY FINAL EXPENSE
We believe that selling final expense is the simplest sale in the insurance industry, period. Think about it. Almost everyone qualifies. It’s not a luxury item; it’s a necessity. We are literally dealing with a ONE page application (and only ONE side of ONE page). You get to help people and their families and build a residual income/retirement for you and your family all at the same time! It’s truly win/win…