If you are looking for a career change or a change of scenery, you may have had the idea of selling final expense life insurance digitally come to mind. Maybe you have been searching endlessly to find out if it’s the opportunity many will tell you that it is.
Or, perhaps, you are just looking for the ability to control your own income and calendar. Whatever your case may be, it’s important to understand a few things. First and foremost, I’m often posed with the question, is selling final expense life insurance over the phone difficult? After several years of doing it myself, here is what I can tell you.
So, is selling final expense life insurance over the phone difficult? No, not at all. Especially for the individual who possesses patience, the ability to listen and build rapport, and the drive and work ethic to make the calls that ultimately net you more sales and more income.
Selling final expense life insurance may not be for everybody, but it sure can be a way for you to take control of your income, time and overall production in addition to being a part of one of the fastest growing remote positions in the United States.
In this post, I want to cover 11 reasons why selling final expense life insurance over the phone may be much more desirable than you think and break down the opportunity more in-depth.
11 Reasons Selling Final Expense Life Insurance Over the Phone Is Easier Than You Think!
#1- You Control Your Time and Schedule
One of the biggest reasons by far that individuals move into a career in final expense telesales is to simply control their own time and calendar.
Anywhere you can pick up a stable internet connection, you can perform your task. Whether you want to make the calls from a vacation home or make the calls on the beach, the choice is yours.
Stay at home moms make great candidates for this kind of career with only working 4-5 hours a day and 4-5 days per week.
The mere fact that you have this ability makes selling final expense life insurance over the phone much more manageable than many believe if you just learn to control your time and remain productive with the freedom this career can offer.
#2- All It Takes Is an Internet Connect and Willingness to Learn
This goes back to reason #1 that final expense telesales can be extremely simple in nature. All it takes is an internet connection, a CRM (customer relationship management) and a “softphone” which is merely a phone built into your computer to allow you to place phone calls over the internet using a headset.
Once you have the primary tools in the place, all it takes is the willingness to learn products, carriers and what can truly serve your clients best and you can be well on your way towards a new rewarding career.
#3- Basic People Skills Make Up Half the Battle
The most significant part of being successful with final expense telesales comes down to people skills. Even more so than other markets that agents market life insurance to over the phone.
Selling final expense life insurance over the phone requires the patience to listen. This demographic likes to talk and build trust before completing any transactions. Especially transactions that require a discussion about sensitive topics such as the end of life arrangements and leaving money behind to their loved ones.
Listening skills and learning the ability to build the rapport might take a few weeks to develop, but once you do, you have already won half the battle. Just being genuine and looking after your final expense prospects while offering ethical recommendations can be a one-way ticket to boosting your sales, income and career.
#4- If You Have A Strong Work Ethic, You Have A Good Shot at Great Income
If you ask any final expense life insurance agent that sells over the phone and works remotely, it’s never usually a question or problem with the difficulty of the job itself. It’s a problem with the agent’s work ethic and ability to maintain focus with the freedom provided. Working from home offers the ability to have no boss breathing down your neck.
Some individuals thrive with this and continue to apply the same strong ethic they always had in previous careers. Some agents, however, become complacent and are led to believe that 40 phone calls will create a 6-figure income.
While 6 figure incomes are 100% possible and not even too terribly difficult to reach, they aren’t typically achieved with 40-50 calls a day.
To give you an idea, 40-50 calls could be the result of only an hour or so of work dialing from a CRM such as the one provided by Digital Senior Benefits.
Usually, we see agents having the most success when they dial between 150-200 times per day. Breathe easy, this doesn’t mean you have spoken to 200 prospects, and if you did, I’m sure you just had an active day of sales.
Maintaining a strong work ethic and having the hunger to reach a higher income isn’t necessarily hard but the environment you place yourself in and the mindset you enter each day with can either make or break your success in the final expense telesales market.
#5- It’s a Product Individuals Want and Need, You Just Need to Find Them
Something that’s often overlooked when individuals begin contemplating a career in final expense telesales is the ability to sell the actual life insurance products. I was the same way when I started selling life insurance face to face and even when I transitioned into telesales.
I would often ask myself, how easily will these individuals purchase life insurance over the phone? Is it something people genuinely want or only purchase when it’s too late or when it’s a clear priority in the individual’s life?
What I can tell you is that this mindset was erased within a few short weeks of selling final expense life insurance over the phone or any form of life insurance over the phone for that matter. People do want these products, they do need these products, and they will buy these products over the phone.
That’s a guarantee. Especially when you are working with high quality exclusive interested leads (we will touch on this soon).
It all goes back to number #3 “People Skills Makeup Half the Battle.”
Let’s rethink this from a different angle. If these prospects come online onto search engines such as Google, Bing, and Yahoo requesting information about life insurance or even final expense life insurance, one would argue that they are clearly interested, correct?
Now, when you’re interested in something and field a phone call, email or other forms of solicitation or even in person at a department store, what does it typically take for you to open your wallet, begin talking or to swipe a credit card?
The answer is trust. When you call interested leads, you already have what they are looking for.
If they don’t buy at this point, it’s likely you aren’t hitting a pain point, or you’re not spending enough time building rapport and trust with them. Sometimes this can take 20 minutes, 30 minutes or even longer.
Sure, you can use trial closes and attempt to close the sale sooner but it’s the agents that recognize the strength in building trust and remaining calm, collected and pace themselves correctly that really make great strides in selling final expense life insurance over the phone.
#6- Electronic Applications Make the Sale Process That Much Faster
Back between 2008-2011 or so, selling life insurance over the phone was already taking place. It wasn’t necessarily hard back then but looking back on it now, the technology has advanced in a big way and the entire process is so much faster than it used to be. This is something to execute on!
The only part that still requires time and patience is the initial phone call and the underwriting process (
In addition, many of these companies even offer an end of a sale telephone interview that can provide an instant decision on your client’s case. When this happens, you can go from the dial tone beginning your call to getting paid for a sale within 45 minutes in some situations.
This ability alone makes final expense sales over the phone much more straightforward than many
If you hang in there and learn these systems, the sales process can be quick, and your bank account can begin to grow.
#7- Final Expense Life Insurance Has Shorter Underwriting Times and Pays Quickly
Selling final expense life insurance over the phone is an entirely different story than selling traditional term life insurance over the phone. Unless you specialize in no-exam or simplified issue term life insurance.
Term life insurance can require lengthy underwriting times and numerous requirements to be met before a case can be placed in force or for all requirements to be met.
With final expense life insurance, it’s the opposite. Rarely, will you have situations where you have long underwriting decisions and lengthy requirements needed to place a case in force.
In fact, many of the companies that are currently the leaders in offering final expense coverage and that are great to use for phone sales will approve your case the same day.
If it’s not the same day, it’s often not much longer than that. The systems are built with these companies to run quick electronic database checks on the MIB (Medical Information Bureau), DMV and motor vehicle checks and RX (prescription reports).
If the application doesn’t have any medical flags raised due to an answer provided during the fact-finding process and if your client is willing to finish the process in one call, you can get the job done on call 1 in 30-60 minutes.
#8- Once You Learn the Companies to Choose and Underwriting Niches, You’re A Pro
Take it from someone with experience selling final expense and traditional term life insurance over the phone. The longest process involved entering this career or taking the leap of faith is simply learning the carriers you need to use in specific situations.
You see, each final expense company has unique underwriting niches. This means that a client that can’t get approved with company A due to having COPD may be able to get level first day coverage with company B.
Learning these can be done on your own with a little diligence and effort but having an Agency back you that provides training, resources, and individuals you can speak to with questions make this a speedy and expedited process.
Once you do learn these companies’ unique strengths and underwriting niches, not only do you look and sound like a seasoned professional with your clients, but you can begin placing more cases, keeping more cases on the books and getting paid more frequently.
Using companies that have these systems in place can really be the game changer you need to explode your business.
Companies such as Mutual of Omaha, Royal Neighbors of America and Liberty Bankers Life are some of the best in the business and offer some of the cleanest, most simple platforms you can use when selling final expense insurance over the phone.
This is the number 1 item to learn to make a transition into a career in final expense telesales an instant success and begin raising your income.
#9- Technology Is Offered to Assist You (And It Works Fantastic)
Technology that is offered to you is enormous in final expense telesales. Having a fast and priority-based call queue is just the beginning.
How about a platform keeping all your cases organized, showing the status and informing you of any requirements needed to place the case and get paid?
How about a system that allows for you to underwrite on the fly with an online underwriting tool? You simply type in the medical condition and see what rates and companies are the best to choose for your client.
All these items may seem small to you, but they make the most significant difference. They make selling final expense life insurance over the phone truly easy and quick. If you aren’t quite sure what a top-notch platform may look like, be sure to check out ours at Digital Senior Benefits.
It features everything we have mentioned up to this point about technology, and in addition, we offer a conservation team to call your clients that are currently pending lapse or that haven’t made a payment on
Our goal is to simply keep you selling more life insurance and not worrying about the rest.
#10- Finding Prospects Is Easy with Quality Leads and Strong Technology
Ah, finally. Now comes the discussion on final expense leads. We mentioned that these individuals searching for final expense insurance are already interested in what you have to offer.
How do we know that?
Well, we generate our own final expense leads in house and only use the highest quality methods including SEO (Search Engine Optimization), Social Media Ads (Facebook) and other partnerships to ensure you always have plenty of people to call and offer your services and professionalism too.
If you want a career in final expense telesales to be easy to get off the ground and running, all you need is the work ethic, quality leads, and systems to back you up.
#11- You May Even Have Some Fun with It!
This may not be directly related to how easy a career selling final expense life insurance over the phone can be, but I thought it’s still important to point out.
Selling life insurance or final expense life insurance over the phone is fun. Plain and simple.
Upping your income, placing as many cases as you can and controlling your own calendar is something that’s vastly underrated about this career. Maybe you need to make extra money for one reason or another.
Good, simply make more phone calls and have more leads available. Maybe you are trying to build a large independent life insurance agency?
Great, learn the ropes and begin discovering your marketing methods and systems with the support of others who have been there and done that.
Whatever the case may be, selling final expense life insurance over the phone can be a blast if you the mindset and work ethic to get the job done and the willingness to learn the ropes.
The Final Word, Final Expense Sales Over the Phone Offers A Real Opportunity
If you are still on the fence about a career selling final expense life insurance over the phone, all we can really do is provide the resources and help educate you on how easy this career can really be.
Its tailors to several individuals with unique needs and time constraints. Sure, it takes a few weeks to get comfortable, and a few growing pains will come throughout the process. For the income potential this career can offer, it’s undoubtedly one of the easiest careers to break into and change your life for the better.
Create more freedom and create more income. It doesn’t get much better than that.
If your interested in learning more about a career selling final expense life insurance over the phone, be sure to email us at firstname.lastname@example.org.
We would love to show you our platform, technology and leads and explain how these could be a game changer in your career.