Final Expense, or burial insurance, is now America's fastest growing segment of the life insurance industry. More and more agents are selling final expense insurances from the comfort of their home office. If you are looking to get on the final expense sales ladder, you should know the best methods to really sell these plans. NAAIP has become pioneers in selling final expense insurance by phone due to having the technology and sales force that is required to succeed. Numerous insurers come to NAAIP when they are interested in switching from traditional final expense selling systems to selling by phone.
The first step that one needs to succeed is to have an impressive website. NAAIP will give the agent an impressive website at no cost or obligation. There are other tools that are needed. We are here to help. With your hard work you can look forward to earning more money and having more clients.
The second step is having the highest contracts for the various Final Expense insurer contracts. Our agents receive the highest payouts in the final expense industry - Guaranteed. Technology brings results and results bring volume. Volume allows us to give you highest industry contracts. For all insurers - agents are paid direct by the carrier.
Note: Oxford Life will be come online for the over the phone final expense selling on June 1, 2018. Via NAAIP agents will receive 120% first year and 5% renewals. Oxford Life Final Expense has among the lowest rates in the industry and much lower rates than Foresters or Mutual of Omaha.
The third step is knowing which CRM/dialers to use to succeed.
The fourth step and the ultimate arbiter of your success is Leads.
What Many of Us Think Final Expense Sales are All About
What many of us believe about selling final expense policies and the reality are often quite different. Obviously sitting at your desk from morning till night making call after call will increase your income, but this is not the be-all and end-all of selling.
The truth is that the belief that hard work (or long hours) equals success is only part of the story. Should you approach this regimen in an incorrect manner, it will lead to disappointment. Those looking for a ten hour day with upper middle class income, should adopt the following model to put you where you want to be. Here is an interesting chart:
Stress-free Final Expense Sales
If you are just starting to sell final expense insurance by phone, there are numerous resources telling you the best way to go about doing things, but are these necessarily correct? Ask yourself whether you wish to follow the examples of those who are industry workers or those who are industry leaders. Average Joe can offer you his two cents and make it look plausible, but those with a wealth of knowledge will offer true guidance, consistently.
This is a concept that I have learned during my long tenure as an insurance salesman, and one which applies to every product line, not only final expense insurance. Know the successful agents are, you can tap into their resources and their expertise will flow to you.
When I first started sourcing the cream of the crop to advise me on sales techniques, I expected to find a bunch of dedicated desk-slaves, burning the midnight oil as if their very existence depended on making 1000 phone calls a day. My research results surprised me and it changed my perception as to how to maximize sales and live a better life in and out of work:
Selling Final Expense Insurance by Phone: What is Next?
To many of you this advice may not be relevant, but I hope that you will consider your mental health in selling. As well, time management is so important.
Where do you start in selling final expense insurance by phone?
1. Web Site
2. Insurer Contracts
3. Phone System/CRM
4. Leads - NAAIP is now in the lead business - offering below market rates or free live transfer life leads - We have had long term relationships with the leading lead companies. The drawback when dealing with lead companies is cost and trust. Spending $10 per shared final expense lead is dependent on how much the lead is shared. An exclusive lead can be $30 and for that price you better close one of four leads. Many agents find themselves in the red before they even get off the ground. Getting experienced and good at selling final expense over the phone critical in increasing your close ratios. Use a dialing/crm system. NAAIP has dialer system expertise. Please consult with us.
Once you are good at selling obviously you would want to be selling in multiple states. The National Insurance Producer Registry at nipr.com is your portal for non-resident licenses.
NAAIP strives to help agents, regardless of experience, achieve more sales. More and more agents are now selling final expense insurance from home. Please use our resources to help you grow your business. Drop in at our conference call, Monday through Friday at 12 noon ET. Phone 1-(888)532-9320.
Final Expense Telephone Sales Script for Setting One Call Appointments or Two Call Closes
(Your script will be in Red letters, Client's will be Blue with italics and quotes - special notes to you are in green and in parentheses)
This is standard script to cold call potential final expense insurance clients. Cold call a marketing data list of those who are between ages 55-65 and household income of under $40,000.
"Best system in industry for insurance agents - anything less in not acceptable.
Step number #1 - NAAIP's insurance website helps agents project themselves as top level professional with minimal time and effort.
Step number #2 - Being among the largest brokerages in the insurance industry, allows agents access to top commissions and resources on every case.
Commitment to growing this relationship is nurtured by providing best in class service. Our attorneys, underwriters, case managers and sales experts will help you grow your business - one client at a time. Welcome to our team, a system that is uniquely suited for insurance professionals in this new millennium."
Aaron Levy - Website Owner, NAAIP.org
Moses Newman - Chief Technical Officer, NAAIP.org
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