Who is final expense for? That is a really good question. Like a wise person once said, “nobody gets out of the game of life alive.” So, to be frank, final expense is for everyone.
There are some people you will meet who say they don’t need it. They will say things like “I already have life insurance”. If they do, then your reply should be to ask them about how much they own and how long have they owned it.
What is a Final Expense Policy?
Some people do not understand what these policies are for. Most large face amount life insurance policies take several weeks to get a payout from the carrier once they receive a copy of the death certificate.
That is fine for some, but in most cases the funeral home is not willing to wait for payment. That means people can unknowingly cause a temporary hardship on their loved ones while they wait for life insurance proceeds to be paid.
Help Your Clients Leave a Legacy, Not a Debt
Final expense plans are designed to be smaller in face amount (typically between $2,000-$25,000). They pay claims quickly, many within 48 hours of receiving notice of death. This allows the family to quickly and easily set up the arrangements at the funeral home and cemetery.
As you know, the first 24 hours after a death can be some of the most difficult times for a family. There are dozens of important decisions that must be made. Families want to give a proper service to the people they love, but many times financial restraints keep that from happening, even with life insurance on the way.
Final expense coverage isn't for the people who buy them, but for the loved ones left behind. It is for those who want to leave a legacy and not a debt. It is for those want to make the most emotionally difficult time for their family as smooth as possible. It is for those who love someone more than they love themselves.
More Final Expense Resources
Check out our Final Expense Insurance Corner to learn everything about final expense, from expanding your book of business to how you can best help your clients who are veterans. Visit our VIP Portal for the latest news and updates from carriers.
If you have any questions, feel free to give us a call at 888-622-9122. Our expert agent support team is always ready to help.