Final Expenses Life Insurance – Know why Consumers are Buying

May 23rd 2024
To achieve greater success as an insurance agent, you need to change your way of thinking. Above all else, it is essential to put yourself in the shoes of the consumer.

For example, you should answer this question: why are so many people interested in buying final expense life insurance?

There are many reasons why consumers are flocking towards this type of insurance:

  • Growing senior population. Let’s face it: final expense life insurance is not something that people in their 20’s, 30’s, and 40’s are interested in buying. However, once a consumer reaches 50+ they may begin to think about this type of coverage. With this population on the rise, the pool of potential buyers is also increasing. As an agent, you can greatly benefit from this trend.
  • Affordable coverage. The cost of final expense life insurance is on the low side. Typically, this is a small policy that is meant to cover nothing more than funeral and burial expenses.
  • Peace of mind, knowing that their family will not face a financial burden. No matter if you are selling to an existing customer or a fresh lead, consumers who are ready to buy are generally responsible with their money.

Now that you have a clear understanding of why consumers are interested in final expense life insurance, you can use this positioning to increase sales while assisting those in need.

As the baby boomer population continues to age, the number of available FE insurance leads is going to follow suit. Are you in position to take advantage of this growing trend?