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Introducing final expense life insurance to clients is a great opportunity for insurance agents. When it comes to their savings, how confident are your clients? Can funeral expenses be covered by adequate funds? Are their spouses, children, and grandchildren going to have anything left over?  

After millennials, baby boomers are the second largest age group. In 2030, every baby boomer will be over 65 years old. Most baby boomers do not have large nest eggs to fall back on because the median retirement savings is just over $200,000. Therefore, there is a large market for Final Expense Live Transfers insurance. It is just a matter of knowing how to tap into it as an agent.

Life Insurance for Final Expenses - What Is It?

Seniors can benefit from final expense life insurance. Your clients can be confident they have eased the burden of end-of-life activities by paying a death benefit to their beneficiaries to cover funeral costs and other expenses.

An insurance agent can explain final expense insurance as a permanent life insurance option with a small death benefit. It may also be referred to as burial insurance or funeral insurance by some clients.

If you consider the high cost of funerals, you can get a sense of how valuable life insurance is. In the U.S, the median funeral expense is $7,360, but it can be much higher. The most expensive states for funerals are:

  • Hawaii: $14,975
  • California: $11,777
  • New York: $10,799
  • Oregon: $10,418
  • Massachusetts: $10,216

Seniors who had life insurance through their employer no longer have that benefit once they retire. Funeral costs may also be too high for them to leave behind enough savings. Among the things beneficiaries can cover with the final expense payout are:

  • Burial services or cremation
  • Special vacation or trip
  • Nursing home care
  • Medical bills
  • Charitable donations
  • Inheritance for grandchildren or a child

Ultimately, final expense life insurance provides peace of mind that your clients' families won't have to worry about the burdensome costs of death when they're already dealing with emotional difficulties.

Is Life Insurance Live Transfers Insurance Necessary?

Ideally, the client for a final expense policy will be elderly or suffering from health conditions that make it difficult to qualify for other types of life insurance. It is also ideal for individuals who had life insurance through their employer but lost it in retirement.

Due to its lower coverage amount, final expense life insurance has a much lower premium than term life insurance. Typically, final expense coverage ranges between $5,000 and $35,000, but not much higher. You can offer final expense insurance to your clients between the ages of 50 and 85 who want peace of mind for their loved ones.

Leads for Final Expense Live Transfers - How To Find Them

In my experience as an insurance agent, Final Expense Live Transfers insurance has a large market. What are the best ways to take advantage of this potential revenue stream? Finding good leads is always the first step. You can find them by following these tips.

1. Make use of Facebook and other social media

In social media, whether it's Facebook, Instagram, or another social network, there is a lot of potential.  Approximately 73% of people between the ages of 50 and 64 and 45% of those over 65 use social media. Using the platforms these users use most often (Facebook) is the best way to target them for final expense insurance.  

To get people talking on Facebook, you can start with simple posts about final expense insurance. Post funeral expense and cost data to generate interest. Also, consider using Facebook advertising to get in front of clients as they scroll through their feeds. Try a few different angles and see what works. You may be surprised at how effective social media can be.

2. Search engines and international advertising

It is essential for every insurance agent to have a decent advertising and marketing budget. Google Ads are another way to boost your visibility in search engine results besides social media ads. It is possible to target specific customers and geographic regions in order to get your ads in front of users. Your campaigns should be focused and targeted so you can easily analyse their results. Take note of what is working and what is not, and adjust as necessary.

3. It is still possible to make cold calls

In insurance sales, cold-calling isn't as popular as it once was, but it still has its place. There are a few reasons why it can be worthwhile to grab a list of phone numbers and then contact them one by one. The first thing you can do is work on your final expense insurance sales pitch and see how prospects react to it. As a second benefit, you may meet one or two new clients through this glorified training exercise. In spite of its lack of glamour, cold-calling can be effective.


ADMIN is fairy versed with ins and out of the new modern day techs. He also loves to write the blogs on the knowledge he possess.

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