Getting Started in the Final Expense Business
If you are licensed, contracting takes about 2-3 weeks to get numbers. Once you receive your numbers you are ready to get off the ground and running. While waiting for your writing numbers, we recommend you place a fresh direct-mail lead order in so that way by the time your numbers come in, leads will show up shortly after.
Also, during those 2-3 weeks, it’s crunch time. This is why we call it Boot Camp—it is hard-core training. The agents are going to have to learn the presentation, learn the companies and the underwriting guidelines of those companies, how to fill out the application, how to add up the premiums and how to navigate the different options for each client. Each company’s underwriting requirements are different—agents need to learn which company to place clients with. With some companies, if you are on home health care, it is an automatic decline. Some companies don’t ask the question. Some companies, if you were insulin dependent before age 50, it is an automatic decline, some it’s an automatic return of premium with a waiting period. Some, they don’t ask the question. If all that is going on with the client is insulin-dependency before 50, we can get them first day coverage.
Now, once an agent goes through the Final Expense Boot Camp training, those leads come back in, they go out immediately with those leads, they go out and deliver the presentation we trained them on. They can write business, and most of our agents do write business, that very first day they go out. They come home, they submit the application, and within 3-5 days of that submission, the commission will be in their bank account. We have arrangements with our core carriers that pay commission on issue. Within 3-4 weeks of signing up, someone who has never sold final expense insurance before can expect commissions. We know that to be successful in the final expense insurance field, you need to bring three things to the table: a strong work ethic, a good attitude, and your personal presentation. Go through Final Expense Boot Camp and you will have a great personal presentation. The rest is up to you.