How much money can you make selling final expense insurance?

On average, a final expense insurance coverage plan results in $600 per sale in first-year commission to the insurance agent. Every year the policy is renewed brings in another $50-60 per year in commission. The national average salary of an agent is $103,000.

Is selling final insurance profitable?

Yes, selling final expense life insurance is lucrative. It can be very lucrative. Top final expense life insurance agents make over 6 figures per year easily while completing all transactions from their home.

Can selling insurance make you rich?

One significant benefit of selling insurance is that it is time and cost-efficient, meaning you can do it on the side and still keep your day job. Also, the incomes are high and can make you a millionaire if you’re smart enough to put in the necessary effort.

Is it hard to sell final expense?

Final expense is one of the simplest life insurance products to sell, but it isn’t the easiest to discuss. In general, final expense insurance itself isn’t hard to learn, with low face amounts, low premiums, and simplified underwriting.

What license do I need to sell final expense?

The primary qualifications for a career as a final expense agent include an insurance agent’s license. Earning this license means completing some pre-licensing education and taking a state exam. States have widely varying guidelines, so it is best to attend a local school for your education.

Can you make good money in insurance?

According to the U.S. Bureau of Labor Statistics, an insurance agent makes an average of $50,600 per year as of 2018. The position’s pay can vary drastically, with the lowest 10\% earning less than $27,500, and the highest 10\% earning more than $125,610.

What is the difference between final expense and life insurance?

What is the difference between final expense and life insurance? Final expense is a type of whole life insurance and usually has a smaller face amount than traditional insurance. It focuses on covering end-of-life expenses while most life insurance policies focus on income replacement.

How do you become a final expense agent?

Can you sell life insurance without a license?

Agents must obtain the necessary certificate of authority or license from the Insurance Commission to solicit and sell life insurance or other special types of life insurance such as the vanable life insurance, before they can solicit or sell life insurance.

Is selling final expense life insurance lucrative?

Yes, selling final expense life insurance is lucrative. It can be very lucrative. Top final expense life insurance agents make over 6 figures per year easily while completing all transactions from their home.

Can you sell final expense life insurance over the phone?

Like I stated before, selling final expense life insurance over the phone can be very lucrative. When selling life insurance, your pay is typically commission structured. This simply means that when you produce and make sales, you get paid. With final expense life insurance, the commissions are very high in most cases.

How much do insurance agents make selling final expense policies?

Well, the average final expense case is right around the 750-800.00-dollar annual premium mark. This means that for every case you successfully sell, you will be paid 750.00 to 800.00 in a commission. Now let’s imagine if you were even selling 4-5 of these policies per week.

What makes a good final expense agent?

The top final expense agents would shut off all distractions and fully dedicate their time to their task. When it comes to selling final expense insurance, success is borne out of routine and it is sticking to these routines that causes success. It is important to fit your final expense selling around your lifestyle and not the other way round.