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Selling Final Expense Insurance: Why It’s Worth It and How to Do It

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After 2020, many of us may be looking to make a change in our careers. You may have realized that you prefer working from home, or you may have lost your job during the economic upheaval of the pandemic. You may have realized that you want more out of your career, and you’re looking for something that will be more fulfilling.

Selling final expense insurance can be a great way to make money and help your clients.

Read on to discover the benefits of selling final insurance and why you should start your practice today.

What Is Final Expense Insurance?

Before we dive into all the benefits of selling final expense insurance, let’s talk some about what it is. As the name suggests, final expense insurance is designed to help people cover their final expenses in life. It is designed to help cover funeral expenses and costs for burial, cremation, urns, tombstones, grave plots, and so on.

Unlike life insurance, final expense insurance is targeted at covering only those final expenses rather than compensating your loved ones for their loss. Because of this focus, policy coverage is usually smaller than that of life insurance.

Premiums are lower, and the policies extend until the end of the client’s life, or they turn 121.

It’s a Growing Market

One of the biggest advantages of selling final expense insurance is that the market is growing. Within the next ten years, all 70 million Baby Boomers will be 65 or older. People are also living longer than ever, and many of the Baby Boomers will be turning their attention to their end-of-life arrangements as they approach their golden years.

This growing market means one crucial thing for you: effectively unlimited customers.

Everyone could use final expense insurance, and you’ll have an enormous and ever-growing client pool to work with. You’ll never be hurting for customers, so your only limits are your drive and ability to connect with your leads.

It’s a Great Side Gig

These days, the gig economy has become a critical part of many of our lives. A side gig can be a great way to make some extra cash, work on your own terms, and explore career opportunities without sacrificing the steady paycheck of your 9 to 5.


Pro Tip: You might be surprised to learn that final expense insurance sales make for a great side hustle.

When you sell final expense insurance, you can contact clients during whatever hours work best for you. You can work around your primary job requirements while building your business and then transition it into a full-time career as it grows.

You can also make plenty of money on this side gig, giving yourself a nice secondary income.

It’s Easy to Sell

When it comes to insurance sales, final expense insurance is one of the easier packages to sell. When clients buy home insurance, life insurance, or health insurance, they’re committing to a large financial obligation for a very long time. They may be tempted to find other solutions or simply do without if they can’t afford the high premiums.


Pro Tip: Because final expense insurance policies have smaller payouts, they also have smaller, more affordable premiums.

And no one wants to leave their family struggling to afford to give them a dignified send-off and burial. You won’t have a hard time convincing your leads that your service is worth spending their hard-earned money on.

It’s Low Cost

One of the things you have to consider when setting up any side gig is how much it will cost you to get your operation going. For instance, if you plan to start driving for Uber, you have to have a car, maintain it well, get it cleaned every so often, and maybe even provide refreshments for your passengers.

If you’re picking up the side gig because you’re strapped for cash, these up-front costs may not be manageable. The good news about final expense insurance sales is that getting going with this gig won’t cost you much at all.

The only things you really need are an internet connection and a phone line. You may want to consider investing in buying leads or getting a power dialer, but you don’t need to have those to get started.

It Has Shorter Underwriting Times

When you’re selling insurance, keeping your underwriting times short will become very important to you. You can’t start making money off clients until they’ve passed the underwriting process and been approved for a case.

This means you won’t get a return on your investment for several weeks, leaving you in the lurch in the meantime. Life insurance policies can have long underwriting times while all a client’s risk factors are analyzed.

But final expense insurance tends to have a much shorter underwriting time, meaning you get paid faster. In fact, some final expense insurance underwriters can provide approval on the same day the application is submitted.

You Can Work Remotely

In 2020, many of us have had to transition to work from home. While the circumstances were certainly far from ideal, you may have discovered how nice it can be to work in your own house. You don’t have to worry about dressing up for the office, eating a sad cubicle lunch, or dealing with a commute.

Final expense insurance allows you to work from anywhere you want, whether that be the couch or a destination far across the world. You aren’t tied to a desk, and you can create a working setup that meets your particular needs.

You Set Your Own Schedule

The other major perk working from home can bring is the ability to set your own schedule. The truth is that not all of us operate on a 9 to 5 schedule naturally. Maybe you prefer an early to bed, early to rise sort of lifestyle, or maybe you do your best work after midnight.

While final expense insurance sales do require some hour restrictions, you can work on the schedule that suits you best for the most part. You’ll want to stick to the nine-to-nine rule when it comes to calling leads and clients.

But you can do your other work at whatever hour suits you, and you can work as much or as little as you want.

You Can Drive Your Own Career

Have you ever felt like you were stuck in a dead-end job that didn’t let you reach your full career potential?

Oftentimes, corporate jobs get stuck on the idea of keeping you tied to the ladder. There isn’t much room for creativity, personal growth, or expansion into new realms unless you’re near the top of the food chain.

With final expense insurance sales, you can start driving your own career right off the bat. We mentioned that your only limits are your ambition and time, thanks to the enormous client pool.


Pro Tip: You can expand your career in final insurance sales as much as you like, and you have the freedom to explore new opportunities and ideas as they arise.

You Can Make Lots of Money

Of course, one of the biggest questions people have with any new job is how much money they can make from it. And from one perspective, your earning potential in final expense insurance is effectively limitless.

You determine how much money you bring in, and a 70-million-person client pool gives you unlimited earning potential.

While we all know you can’t handle 70 million clients, you can still make plenty of money working in final expense insurance sales. On average, you’ll earn about $600 per client in the first year of their policy. In the future, you’ll get between $60 and $70 per policy a year for an average income of up to six figures.

You Provide People Peace of Mind

Money and flexibility are wonderful and important things, but you won’t be happy in the long run if your job isn’t fulfilling. You want to work in a job where you feel like you’re making a difference in people’s lives. Final expense insurance sales can give you that satisfaction that keeps you in the career long-term.

The end of life is one of the scariest and most vulnerable times for your clients.

They want to have peace of mind as they approach this transition, and they want to know their loved ones will be taken care of.

You can provide them with that peace in their final days, and what more could you ask from a career?

Discover the Benefits of Selling Final Expense Insurance

Final expense insurance sales can be a great way to make some more money on the side or take your career to new heights. You can work on your own time and in your own space, make plenty of money, and bring peace of mind to your clients. And all you need to get started is an internet connection and a phone line.

If you’d like to learn more about selling final expense insurance, check out the rest of our site at TR King Insurance Marketing. We have more than twenty years’ experience in the insurance industry and currently serve more than 2,000 independent agents nationwide. Start our online contracting process today and take your career into your own hands.

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