Final Expense continues to take off..

With the ever changing economy and now record unemployment, more agents are wondering what they can do to continue to make a consistent living. We certainly have the answer.

The senior population, due to aging "Baby Boomers", is the fastest growing segment of the population right now. This is expected to continue for the next 30 years or so.

These are people who, for the large part:

* Have a consistent, recession-proof monthly income (social security)
* Have done ZERO planning for burial/life insurance
* Are watching their friends and famiy pass away at a faster pace each year.

They are from the generation that still cares about burdening their families with their unpaid bills, such as the funeral costs they will leave behind. They are very conscious about paying their fair share and doing the right thing by their family.

Agents entering the final expense market are always surprised to find out just how simple the final expense policies are. The paperwork is very simple, the policies themselves simply pay a death benefit of a specified amount, and the rates are very affordable to seniors.

The entire appointment that results in a sale may last 30 to 45 minutes. The benefits to the client include peace of mind and financial security in that they no longer have to set aside a large amount of money for burial costs.

Agents working this market are able to design their income plan based on how many people they talk to. If you want to talk to 15-20 people per week, you can earn $60,000 - $70,000 per year. If you want to talk to 40-60 people each week, you can simply double that. It is a very simple transaction of presenting options to people, over and over again, and helping them with the paperwork.

Agents that have come from the Medicare Advantage world are keenly aware, now, that President Obama has clearly indicated his priority of shutting down the MA world. (See article here.) These agents are now looking for a home where they can continue to help seniors with their needs and make a decent income.

More and more, these agents are finding that the solution is in selling final expense. In recent months, we have experimented with selling final expense by phone. The carriers that were in this niche market have been pulling back and, in some cases, closing down. They report that, by completing the entire transaction over the telephone which includes providing their social security number, bank account number, etc., they are less likely to keep that policy long-term. The incidents of "Not Taken" policies and lapsed policies within the first three months is VERY much higher than those cases where the applications are taken in person.

Be that as it may, more agents are interested in working from home and not venturing out at all to meet with clients in person. This allows them to work any area of the country (with non-resident licenses), and reach out to more people by dialing than they would be able to do by knocking on doors during the day. Often, the lower closing ratio and persistency is made up by the amount of people the agent is able to talk to by telephone.

A website dedicated to this niche market (selling final expense over the telephone) is www.finalexpensebyphone.com. Whether the agent is interested in selling in person or by telephone, finalexpensebyphone.com has the highest contracts for final expense companies available.

Agents that prefer to sell "belly to belly", the traditional way, are welcome there, too, as the same companies still apply. The current offering includes a great annual contract for United Home Life, a great company for final expense. United Home Life has recently lowered their rates and increased commissions for final expense. This is in sharp contrast to many in the market right now that are running from new business because of bad investments and their inability to back their policy commitments with reserves. United Home Life continues to write good business and is poised for incredible growth, based on the way they are treating their agents.

Final expense by phone may be a niche marketing method, but some people like it and others feel like picking up the telephone is the hardest thing to do in the world. For those who would like to sell by telephone more, but just don't think they can do it, you should check out some of these best-selling industry titles addressing that very thing. Click here to see some recommended titles that can help you.

As more and more agents are transitioning into final expense, agents should make sure to get the best contracts available. The highest final expense contracts available ensures that you make the most amount of compensation based on the same level of production. This can be significant.

Whether you want to sell final expense by phone or in person, your best bet is to visit: www.finalexpensebyphone.com