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Final expense insurance; also known as burial insurance or funeral insurance, is one of the most practical and emotionally impactful products in the life insurance industry. It provides a straightforward solution for covering funeral and end-of-life costs. We will go over Final Expense Plan basics so you can get a general idea of the value of these plans.

This guide breaks down what agents need to know to confidently sell final expense insurance; from plan types and terminology to underwriting insights and a step-by-step sales process.

Final Expense Insurance

Final expense insurance is a type of permanent whole life insurance with a low death benefit, typically between $2,000 and $50,000. It’s designed to pay for funeral expenses, medical bills, debts, and other end-of-life costs. This helps provide peace of mind for the individuals who purchase the coverage and their loved ones.

Key Characteristics:

• Whole life insurance product (not term)
• Level premiums for life
• Guaranteed death benefit (as long as premiums are paid)
• No medical exam required (simplified issue or guaranteed issue)
• Cash value accumulation

Final Expense Terminology

Understanding the lingo is important when discussing plans with clients:

Watch a quick YouTube video on Life Insurance Basics

Final Expense Plan Types

Final expense plans generally fall into three categories:

1. Level Benefit Plans

• For healthy clients who qualify based on health questions
• Immediate full death benefit
• Lowest premiums

2. Graded Benefit Plans

• For clients with moderate health issues
• Limited death benefit in first 2–3 years (often 30%-100% of premiums refunded + interest)
• Full benefit kicks in after graded period

3. Guaranteed Issue Plans

• No health questions
• Suitable for high-risk clients (cancer, dementia, etc.)
• Always have a 2-year waiting period

Underwriting – What Clients Can Expect

Final expense underwriting is more lenient than traditional life insurance. Most policies are simplified issue, which means:

• No medical exam
• Short health questionnaire
• Carriers may use tools like:
  • Prescription history databases
  • MIB (Medical Information Bureau)
  • Height and weight tables
  • Phone interviews

Health Conditions That May Affect Plan Type

Agents: It is important to ask questions that can bring up common risk flags to prepare the best plan quote for your client to ensure they receive the coverage they need.

Sales Process: From Lead to Close

1. Lead Generation

• Direct mail, Facebook, Google ads, or warm referrals
• Focus on individuals aged 50–85
• Consider grass roots community marketing, telemarketer or aged leads if on a budget

2. First Contact & Rapport Building

• Start by actively listening to them and getting to know them
• Focus on protection and peace of mind, not insurance jargon
• Example: “Many of my clients want to make sure their families aren’t left with bills or funeral costs. Do you have coverage for that?”

3. Fact-Finding & Budgeting

Ask about:

• Age, health conditions, and medications
• Existing coverage
• Budget comfort level (not just affordability)

4. Present the Plan Options

• Present a few options that fall within their budget; an online quoting tool like Best Plan Pro makes this easy
• Explain the difference between level, graded, and guaranteed issue plans
• Emphasize guaranteed premium amounts and lifelong coverage

5. Application Process

• Most carriers offer e-apps, telephonic apps, or paper apps
• Walk the client through health questions and disclosures
• Submit application

6. Follow-Up and Delivery

• Confirm approval
• Review the policy with the client
• Schedule an annual check-in
• Ask for referrals!

Learn more about Final Expense Sales 101

A Few Tips for Agents

• Educate first, sell second: Although clients make the purchase based on emotion, they need to feel informed and confident in their decision.
• Practice transparency: Ensure clients understand graded periods or waiting periods upfront.
• Respect the budget: Because many clients live on a fixed income, it is not a good idea to sell them a policy they cannot afford. This can lead to loss of trust between you and the client and policy cancellation and a chargeback.
• Focus on family protection: Present the policy purchase as a layer of asset protection and legacy, not just an expense.

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Final expense insurance offers security and simplicity for clients as well as an opportunity for agents. By mastering the product, understanding client needs, and delivering with compassion, you’ll not only increase your sales but also build a business rooted in service and trust.

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One crucial aspect many people overlook when they are planning for the future is disability insurance. Although most people understand the importance of health and life insurance, they often overlook the ability to protect themselves against the risk of disability. We will discuss the importance of disability insurance, what it entails, and why it should be a part of everyone’s financial strategy.

Understanding Disability Insurance

Disability insurance coverage provides financial protection in the event you become disabled and are unable to work. It provides a source of income replacement during the period the beneficiary is disabled. This helps cover essential expenses such as mortgage or rent, utility bills, groceries, and medical costs. Unlike health insurance, which only covers medical expenses, disability insurance provides income replacement for those unable to work due to injury or illness.

In most cases, Disability insurance provides from 40% to 70% of the insured’s pre-disability earnings.. It is important to remember, coverage provided by each policy such as; benefit amounts and duration can vary greatly and depend on the specifics of each individual policy. Some employers offer disability insurance and provide either full or partial payment for the policy.

Why Disability Insurance is important

1. Protecting Income: For most people, the ability to earn income is their most valuable financial asset. Disability insurance ensures a beneficiary who is unable to work due to a disability, they can still receive a portion of their income. This provides a safety net to ensure their financial stability.
2. Covering Living Expenses: Disability insurance helps cover daily living expenses. This includes mortgage or rent payments, utilities, groceries, and other bills. Without a steady income, it can be a challenge to meet these expenses. This can cause a financial strain or even debt.
3. Maintaining a Lifestyle: A disability can significantly impact your lifestyle. It may limit the ability to participate in activities or maintain the standard of living individuals are accustomed to. Disability insurance provides financial support to help maintain quality of life during difficult times.
4. Peace of Mind: Knowing there is a financial safety net in place in the event a beneficiary becomes disabled provides peace of mind. It allows them to focus on recovery without worrying about how support their family financially.

If you want to offer these plans to your clients, Click here to learn why you should contract with Crowe

Types of Disability Insurance

There are two types of disability insurance: short-term disability insurance and long-term disability insurance.

1. Short-Term Disability Insurance: This coverage typically provides benefits for a short time. Coverage periods range from a few weeks to several months. It offers income replacement for temporary disabilities, such as recovery from surgery or a non-life-threatening illness.
2. Long-Term Disability Insurance This insurance provides benefits for an extended period. In some cases, until retirement age, if you’re unable to work due to a severe injury or illness. It provides more comprehensive coverage compared to short-term disability insurance. It is essential to protect against long-lasting disabilities that may prevent you from working for an extended period.

Here are some differences between short-term and long-term insurance:

Things to Consider

When a client is thinking about purchasing disability insurance, there are several factors agents should consider:

1. Coverage Amount: Determine how much coverage they need based on monthly income, expenses, and financial obligations. Ensure that the benefit amount is sufficient to cover living expenses and any additional costs related to the disability.
2. Waiting Period: The waiting period, also known as the elimination period, is the duration beneficiaries wait before they receive benefits after becoming disabled. Choose a waiting period that aligns with their financial situation and ability to cover expenses during that time.
3. Definition of Disability: Pay attention to how the policy defines a disability. Some policies have stricter definitions of a disability. This makes it more difficult to qualify for benefits. It is a good idea to choose a policy with a broader definition of disability. This is a good way to ensure comprehensive coverage.
4. Premiums and Cost: It is always important to consider the premium cost is reasonable and within the budget. Compare quotes from different insurance providers to find the most competitive rates and benefits.

Because life is so unpredictable, disability insurance provides clients a sense of security and protection against the unforeseen. It can be a much needed safety net to protect the beneficiaries’ assets from unforeseen circumstances.

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