Does anybody sell final expense? I just started in the FE field and wanted to know if I could make a living. Thanks!
Total Comments: 71
Posted: Sat Oct 25, 2008 03:32 pm Post Subject:
Not to be a buzzkill Mc but...
If you are in good health, don't spend $72.00 per month for a 25K policy.
Pay $85.00 per month for a 100K policy.
Posted: Sat Oct 25, 2008 07:34 pm Post Subject:
Yes,
I've been in the FE market exclusively for about 6 years. It is a very good and easy niche market. As far as income, I work part time about 15 hours a week and earn a little less than 40,000 per year. As a first year agent, I would
1. Find a reliable lead source
2. Work no less than a 40 hour week.
3. Find other people in your area that also sell FE
4 Learn from them
I usually charge the lead cost to my as earned account. If you can find someone to do this for you, it will come in handy(No out of pocket expenses).
FE is a very fun market to work.
Good LUck
Scott
Posted: Sat Oct 25, 2008 07:43 pm Post Subject:
A FE (Final Expense) policy is just that, A small policy which enlarges the customers estate. This policy can be used for Burial, Cemetary, Medical Deductables, or just about anything.
Also mentioned here are pre-need plans. These have a contract with a funeral home. These are also life insurance policies however most have some inflation protection built in (from 3% to 5% per year). The safest thing about these policies is that they are contracted with the funeral home to pay for the Funeral (pre-need). They also cost more than final expense policies.
As a general rule more poor demographics purchase Final Expense and more wealthy ones purchase pre need.
HOpe This Helps
Scott
Posted: Sat Oct 25, 2008 09:16 pm Post Subject:
If you're not careful...you also pay taxes on the pre arrangement plans with the funeral home...Grandma, and my mom and step dad found this out the hard way!
Posted: Sun Oct 26, 2008 02:16 pm Post Subject:
OHHH I never knew that. That is kind of bull crap.. I mean thats stupid to tax someone for this kind of thing. A person tries to look out for their loved ones in case something would happen to them and not be a burden and then they tax ....RIDICULOUS!!!!!!
Posted: Sun Oct 26, 2008 05:01 pm Post Subject:
There aren't any taxes on proceeds from a Life Insurance policy.
Posted: Mon Oct 27, 2008 09:21 am Post Subject:
That is kind of bull crap..
you ain't a kiddin' it is and what my grandma said, only she's never say 'bull' or 'crap' :wink:
Posted: Mon Oct 27, 2008 02:02 pm Post Subject: FE
Nice points from everybody but one thing FE is a great product for a person who only wants 3k-10k for there funeral. A 25k policy is more for there family and then I would look into a 100k policy. But you have to remember you don't have a medial UW with FE. You just have to answer 4 questions and with the policy I have everything is done over the phone. I had a coworker who husband just pasted and she now has to pay 3k for no bells and whistles out of her own pocket. There are upsides to FE and one being its cheap and over the phone. I am also looking for agents that might be interested in selling a FE product. Let me know if you want more info.
Posted: Mon Oct 27, 2008 02:25 pm Post Subject:
you ought to try and get some funeral homes to push this one for you.
Posted: Mon Oct 27, 2008 02:34 pm Post Subject: FE
Posted: Sat Oct 25, 2008 03:32 pm Post Subject:
Not to be a buzzkill Mc but...
If you are in good health, don't spend $72.00 per month for a 25K policy.
Pay $85.00 per month for a 100K policy.
Posted: Sat Oct 25, 2008 07:34 pm Post Subject:
Yes,
I've been in the FE market exclusively for about 6 years. It is a very good and easy niche market. As far as income, I work part time about 15 hours a week and earn a little less than 40,000 per year. As a first year agent, I would
1. Find a reliable lead source
2. Work no less than a 40 hour week.
3. Find other people in your area that also sell FE
4 Learn from them
I usually charge the lead cost to my as earned account. If you can find someone to do this for you, it will come in handy(No out of pocket expenses).
FE is a very fun market to work.
Good LUck
Scott
Posted: Sat Oct 25, 2008 07:43 pm Post Subject:
A FE (Final Expense) policy is just that, A small policy which enlarges the customers estate. This policy can be used for Burial, Cemetary, Medical Deductables, or just about anything.
Also mentioned here are pre-need plans. These have a contract with a funeral home. These are also life insurance policies however most have some inflation protection built in (from 3% to 5% per year). The safest thing about these policies is that they are contracted with the funeral home to pay for the Funeral (pre-need). They also cost more than final expense policies.
As a general rule more poor demographics purchase Final Expense and more wealthy ones purchase pre need.
HOpe This Helps
Scott
Posted: Sat Oct 25, 2008 09:16 pm Post Subject:
If you're not careful...you also pay taxes on the pre arrangement plans with the funeral home...Grandma, and my mom and step dad found this out the hard way!
Posted: Sun Oct 26, 2008 02:16 pm Post Subject:
OHHH I never knew that. That is kind of bull crap.. I mean thats stupid to tax someone for this kind of thing. A person tries to look out for their loved ones in case something would happen to them and not be a burden and then they tax ....RIDICULOUS!!!!!!
Posted: Sun Oct 26, 2008 05:01 pm Post Subject:
There aren't any taxes on proceeds from a Life Insurance policy.
Posted: Mon Oct 27, 2008 09:21 am Post Subject:
That is kind of bull crap..
you ain't a kiddin' it is and what my grandma said, only she's never say 'bull' or 'crap' :wink:Posted: Mon Oct 27, 2008 02:02 pm Post Subject: FE
Nice points from everybody but one thing FE is a great product for a person who only wants 3k-10k for there funeral. A 25k policy is more for there family and then I would look into a 100k policy. But you have to remember you don't have a medial UW with FE. You just have to answer 4 questions and with the policy I have everything is done over the phone. I had a coworker who husband just pasted and she now has to pay 3k for no bells and whistles out of her own pocket. There are upsides to FE and one being its cheap and over the phone. I am also looking for agents that might be interested in selling a FE product. Let me know if you want more info.
Posted: Mon Oct 27, 2008 02:25 pm Post Subject:
you ought to try and get some funeral homes to push this one for you.
Posted: Mon Oct 27, 2008 02:34 pm Post Subject: FE
Not a bad idea. I might do that.
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