An insurance agent has the responsibility of selling all kinds of policies and they are well aware of each ones benefits as well as their negative points. While some policies are easier than others to persuade a customer to buy, others are more difficult but can earn the agent higher commissions. Final expense insurance leads are not one of the agent’s first preferences but should be kept as a valid option for all agents for various reasons. To understand the benefits of these leads, you need to have a proper understanding of the process that involves selling an insurance policy.
First, the insurance agent needs to set an appointment with the client and this could be a very tedious job because not many people have their insurances in place. Unless a customer is actually looking out for options it is very difficult to get an appointment. Next, the agent needs to develop policy illustrations. Then comes the completion of the application followed by a long waiting period for the application to get approved by the regional office.
The next step in the process is setting up medical appointments for the client after which the medical reports need to be collected. Finally, the agent has to supervise the underwriting of the policy and hand it over to the client. The last step of this lengthy process includes submitting the delivery requirements to the regional office.
Final Expense Insurance Leads Are Quicker
This lengthy process consumes a lot of time and may take up to ten weeks to complete. The agent has to wait for quite a long period of time for their commission. Look into final expense insurance leads instead. They are less time consuming and get the agent their commission faster. At first glance, these policies may seem tedious to take up. The returns are actually faster and better.
There are only five steps involved in the process beginning with setting up a phone conference with the client. Then the application needs to be written and filled in. Once that is complete, the agent will have to finish a phone underwriting questions sheet and submit the application to the regional office for approval. The final step of the process is to hand over the approved policy to the client.
Advantages of Final Expense Insurance Leads
One of the biggest advantages of final expense insurance leads is that the agent can finish off with one client and move on to selling the next policy quicker. This means he or she has the opportunity to earn more commission without waiting for ten weeks to see the policy come through. More importantly, commissions of these policies are higher.
Finally, final expense insurance leads are mostly senior citizens. When it comes to selling insurance policies, they are the best bet. This is because they are entitled to pay higher premiums which means a higher commission for the agent. Also, senior citizens usually keep their insurance policies for longer and pay their premium in a timely manner. Younger people are not that reliable when it comes to insurance policies, which may be a problem when it comes to the agent making a profit on the insurance he sells to them. Final expense insurance policies can help an agent in several ways.