Final expense insurance serves a large and diverse market, primarily made up of individuals who want to ensure their loved ones are not burdened with funeral costs and other end-of-life expenses. Many people simply cannot afford a pre-paid funeral, do not want a funeral home controlling their trust, or are looking to protect their life savings.
For those with experience selling Medicare Advantage or Medicare Supplement plans, the final expense target market will feel familiar, as it often involves the same demographic, seniors looking for affordable solutions that provide peace of mind.
The Core Final Expense Insurance Market
In my experience the most lucrative niche for selling final expense insurance includes:
- Ages: 50-80
- Household Income: $0-$50,000
- Primary Concern: Not wanting to leave their family with financial burdens
This market is filled with individuals who may not qualify for traditional life insurance, need simplified underwriting, and want to ensure their funeral and other final expenses are covered.
I spent years selling this product full time targeting the exact households above.
What to Expect in the Field
While the core demographics are straightforward, working in the final expense market brings its own unique challenges and experiences. Anyone who’s sold final expense for long enough will probably smile at that statement. 🙂
If you’re prepared for the unexpected, it can be both financially rewarding and personally fulfilling.
Here are a few real-world examples of what final expense agents often encounter:
Rural Adventures
You have an appointment in a rural area, and the only thing between you and your client’s front door is a 2,000-pound bull. In final expense sales, you never know what kind of obstacles you’ll face, sometimes literally.
Hands-On Hospitality
A client offers you coffee, and when you accept, they hand you a bucket and point to the well in the front yard.
Welcome to selling final expense in small-town America, where hospitality sometimes comes with a bit of extra work. This happened to me in a small town in southwest Missouri.
Unique Forms of Gratitude
At the end of a successful week, you will often realize you’re coming home with over $5,000 in commissions, and a bucket of quail eggs from a grateful client. Final expense sales isn’t just about closing deals; it’s about connecting with people on a personal level.
Unexpected Treasures
After an appointment, a client insists on giving you a tour of their home and hobby area.
Two hours later, you leave with an original piece of artwork. Later, you find out they were a well-known western artist. In this business, you never know where your leads will take you or who you’ll meet.
Why This Market is So Rewarding
Selling final expense insurance takes you places you never expected, both financially and personally. Clients often appreciate the time and care agents put into educating them about their options and making sure their final wishes are secured. Many will show their gratitude in ways that go far beyond just buying a policy.
If you’re looking for a market that offers steady demand, meaningful interactions, and strong commissions, final expense insurance is a great opportunity.
Just be ready for a few surprises along the way.
Conclusion
Before jumping into final expense sales, make sure you understand the startup costs and investment needed to build a successful agency.
Taking the right steps early on will help you maximize your potential in this rewarding market.
