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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.

Click here if you are ready to get contracted with Crowe

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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Life is unpredictable, and a sudden diagnosis of a critical illness can bring both emotional and financial stress. The value of critical illness insurance is the financial protection it provides by offering a lump sum payout if an individual is diagnosed with a covered condition. This lets them focus on recovery rather than worrying about medical bills and lost income. Here’s why investing in critical illness insurance is a smart decision.

What is critical illness insurance

Critical illness insurance is a policy that pays a tax-free lump sum upon the diagnosis of a severe health condition such as cancer, heart attack, stroke, or organ failure. Unlike traditional health insurance, which covers only medical expenses, this policy provides funds beneficiaries can use for various needs, including:

1. Medical treatments not covered by health insurance
2. Travel for medical care
3. Mortgage or rent payments
4. Household bills and daily living expenses

Benefits of critical illness insurance

1. Financial Security During Recovery
   A serious illness can impact the ability to work, leading to lost income. The payout from critical illness insurance can help replace lost wages and maintain your standard of living.
2. Coverage for Non-Medical Expenses
   Although health insurance covers hospital and medical bills, it doesn’t pay for things like home modifications, transportation to treatments, or additional caregiving needs. Critical illness insurance fills this gap.
3. Protection from Rising Healthcare Costs
   The cost of treating serious diseases continues to rise. Even with health insurance, high deductibles, copays, and out-of-network charges can be overwhelming. A critical illness policy ensures additional financial resources to cover these costs.
4. Peace of Mind
   Knowing that you have financial support in the event of a major illness allows you to focus on recovery rather than stressing about expenses. This provides stability and reassurance to the patient and their loved ones.

Learn about Mutual of Omaha Critical Illness insurance – watch a detailed video

Critical illness insurance is beneficial for

Individuals with a family history of one or more critical illnesses should consider adding this coverage. Those who are self-employed or do not have employer-provided coverage may want to enroll in a plan. In some cases, the individual has coverage with a high-deductible and needs help with out of pocket expenses.

Watch a YouTube video on the value of ancillary product sales

Medicare agents who want to add these products to your contract, click here

Anyone who wants to protect their savings from financial strain due to a major illness. Critical illness insurance serves as an important financial safety net, helping families navigate the challenges of a serious diagnosis.

By investing in this coverage, enrollees can ensure financial stability and peace of mind during difficult times. A licensed insurance agent can help review your current insurance portfolio to determine if critical illness insurance is a the right option for you.

Final expense insurance, sometimes referred to as burial insurance or funeral insurance, provides peace of mind and financial assistance during a difficult time. But what does final expense cover? We will try and answer that question.

What is Final Expense Insurance

Final expense insurance is a type of life insurance policy that covers the costs associated with a person’s funeral, burial, or cremation. It may also provide coverage for outstanding medical bills or other debts. Unlike traditional life insurance policies, which have larger payouts and longer terms, final expense insurance provides lower benefit amounts designed to cover specific end-of-life expenses.

Learn why you should offer ancillary products – watch a YouTube video

What it Covers

Funeral Expenses

The most common use of final expense insurance is to cover the costs of a funeral or memorial service. Expenses for these services may include the casket or urn, embalming, transportation of the body, viewing or visitation services, and funeral home service fees.

Burial or Cremation Costs

There are also expenses for burial or cremation, including cemetery plots, cremation fees, headstone or marker costs, as well as fees associated with the interment or scattering of ashes.

Outstanding Debts

In addition to funeral and burial expenses, beneficiaries may also use final expense insurance to pay off outstanding debts or bills owed by the deceased. This may include medical bills, credit card debt, or other financial obligations.

Legal and Administrative Fees

This insurance coverage can also help cover costs associated with legal and administrative tasks that take place after a loved one’s death. These fees may include probate fees or estate settlement costs.

Flexible Use of Funds

Unlike other types of insurance policies that have strict guidelines on how beneficiaries use the funds, final expense insurance gives beneficiaries the flexibility to choose how they use the money. This allows them to use the funds where they need to most during a difficult time.

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Crowe agents who want to add a carrier; click here.

Why buy Final Expense Insurance

Financial Protection

Final expense insurance provides loved ones with financial protection during a difficult time. This helps alleviate the burden of funeral and burial expenses. By having a final expense insurance policy, individuals can have peace of mind knowing that their end-of-life expenses are covered, sparing their loved ones from the financial burden.

Easy to Qualify

Final expense insurance policies are usually easier to qualify for than traditional life insurance policies. This makes them accessible to individuals who may not qualify for other life products due to age or health conditions.

Fixed Premiums

Many final expense insurance policies offer fixed premiums, this means the cost of the policy stays the same over time. This makes it easier for clients to budget for.

Final expense insurance gives clients an opportunity to purchase coverage for the specific expenses associated with a person’s passing. This coverage provides financial protection and peace of mind to both the policyholder and their loved ones. By understanding what final expense insurance covers and its benefits, individuals can make informed decisions to ensure their end-of-life wishes are met and their loved ones are taken care of financially.

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