What Is Final Expense Insurance? 

Final expense insurance is small face-amount, whole life coverage designed to take care of funeral costs and other final expenses. This is whole life insurance that, as long as premiums are paid, accrues cash value, the payments never increase, the face amount never decreases and most people qualify for coverage, even with pre-existing health conditions.

​

What are final expenses?

Funeral Costs, cemetery costs, left-over medical bills, nursing home/hospice bills, etc.

​

Who is our target market?

We primarily help seniors between the ages of 50 and 85 who have mid to low income.  Most of our clients are on fixed incomes, living paycheck to paycheck but still value the importance of having a plan in place to make sure their loved ones don't have to come out of pocket to lay them to rest. Otherwise their loved ones are left burdened with the funeral and cemetery costs.  

 

Can we insure people under 50 years of age?
Yes, we can insure anyone age 0 (30 days old) up to age 85.

​

Are major medical conditions covered?
Heart problems, cancer, and most other health issues can be covered.  Medical conditions that we are not able to cover are terminal illnesses and HIV/AIDS.

 

How much coverage can our clients get?

Most clients get between $10,000 to $15,000 to cover their funeral expenses. We do offer face amounts up to $35,000 but that is typically not advisable as funerals should not cost $35,000. Our product is not meant to serve as income replacement, it is meant to serve a very specific need: paying for funeral expenses.

​

Why Final Expense?
Someday, we will all die and more often then not we all at some point need to plan a funeral. Whether directly or indirectly, we will all be faced with the difficult emotional and financial decisions of planning a funeral. Final Expense sales will grow exponentially in the years and decades ahead. We are entering a "Golden Era" of the Final Expense business. Our market is the “Baby Boomer” market and it is the largest growing segment of the U.S. population.  By educating people about Final Expense, you are offering a product that everyone needs and that everyone needs to address.  We also offer a complimentary service, unlike any other in the Final Expense business. We’ve specifically perfected this niche over the last 50 years on how to find job security working with the largest growing segment of the US population.

 

Is a License Required To Sell Final Expense Insurance?
Yes, you must have or be willing to obtain a life insurance license. You don't need a health insurance license to partner with us. If you do not have your license, we will guide you through the process of obtaining your license. It's a lot easier than you may think.

 

What Experience Do We Require?
No Sales experience is required, we will train you regardless of your experience. All that we require outside of your license is that you have a positive attitude, great work ethic, you're self-motivated, and coachable. 

​

Who Is Generally A Good Fit For Our Company?
We have successful agents/managers from all walks of life and experience levels.  Just need a positive attitude and a great work ethic.

​

What Does The Average Producing Agent Make Their First Year?
New agents with zero work/sales experience typically average $50,000-$75,000 their first year, however it is not uncommon to make over six-figures in your first year.  

​

Is There Any Cost To Start?
You are responsible for the cost of obtaining your Life License.  Unless you meet the requirements and are hired into the Agent Internship Program, then we’ll pay the entire cost of licensing and pay you while you’re in the process.  You are not required to pay any out of pocket money for your leads!

Is there Opportunity for Growth?
We are always looking for candidates with the right characteristics who want to move into management.  You have to show us that you can follow our training, produce, and that you have the right attitude and characteristics to be a successful manager.  You have to start with a proper foundation which comes from learning our product and system inside and out in the field. Managers have more responsibility, liability, and a lot more debt.  Yet when your agency is built with the proper foundation you have the opportunity to make a lot more money. 

​

Do We Pay Residual Income?
In addition to your advanced commission, you will have the opportunity to receive a monthly deposit based on the as-earned commission and your residual income after the first year, called a paythrough.  Lincoln Heritage Life Insurance Company pays this starting the first month your clients make their second payment, they don’t make you wait 9 months like most companies. If you consistently write business, your paythrough will grow continually every month. It's like receiving a raise every month. There are production requirements that you must meet in order to receive the paythrough.

​

What Are Most Agents Making In Paythrough (Residual + As Earned) After 1 Year?
On average, most producers will build their paythrough to about $1,500 to $2,000 a month in residual income by the end of the first year, on top of their normal commissions.  Meaning at the beginning of each month they will get paid this, plus whatever they sell that month. This number can fluctuate based on the number of policies you retain and the amount of business you write. There are production requirements that you must meet in order to receive the paythrough. How nice would it be starting with a monthly check every month, based on the policies you’ve already sold?

How Long Will it Take, Until I Can Start Earning Commissions, As An Agent?
Processing times vary by state, but you should be able to get fingerprinted, complete the prerequisite courses, and pass your test within 7 to 14 days.  Most states will issue your license within 14 business days, if you have supplied them with everything they need.  During this final waiting time you can fill out our contract and begin the training process.  You should be in the field making money within 3 to 4 weeks of starting the process.  And when you write business for us, you get paid the same day you submit it!

How Much Will It Cost For Me To Obtain My License?
Costs vary by state, but is approximately $300 for everything. 

​

How Many Leads Will I Receive?
Most agents take 15 to 20 fresh, local, exclusive leads a week.  Our top producers consistently work 30+ leads a week. No minimum or maximum number of leads are required.

What Is The Average Closing Ratio?
Different territories, agents, and leads have different ratios.  On average, you should expect to close at least 30% of your leads. This may increase depending on referrals and writing multiple policies in one household.

What Is The Average Monthly Payment For Our Clients?
$45-$50 a month is the most common, but we can go as low as $15 a month.

What Is The Average Face Amount Of Each Policy?
Most policies that are sold are between $10,000 to $15,000

How Do Leads work?
We offer direct mail, tv, radio and web leads. Leads are financed meaning leads are given at no up-front cost to you.  After you sell a policy we will withhold a percentage of your check each time you submit business, only if you owe lead costs or chargebacks.  There is no interest on the financing and our leads are exclusive, meaning they aren't sold to multiple agents. Every lead that you pay for is yours and yours only. We have to charge for leads because it’s the only way we can produce a quality lead.  Millions of dollars are spent on testing different leads to produce the highest response rates.  We lose money on the lead program, but it’s what puts us in front of quality prospects and allows us to out produce every other company in the final expense market. Typically, companies that offer no cost or very cheap leads have to make it up another way.  Either they offer a lower commission, a lower quality or non-exclusive lead, or you  have to pay for the leads in bulk and up front.
Lincoln Heritage offers the most competitive contracts with the best quality leads in the business.

Do You Have Chargebacks?
Yes.  All insurance companies have chargebacks if the client cancels within their first year, but we finance the charges.  Meaning that if you owe $1,000 in chargebacks we won’t hold all your commission until it’s paid like most companies.  We just withhold a small percentage so you make more money.

​

Are Benefits Available?
Yes competitive group health and dental benefits are available for you and your family, provided you meet basic production requirements. 

Are There Incentive Trips?
Yes, We hold yearly contests that you will be able to qualify for. If you join during a contest period, you may still qualify on a pro-rata basis.

What Does An Average Agent's Day Look Like?
Our agents are out in the field working 15-30 fresh exclusive leads a week.  You have the ability to set and work your own schedule, but you must commit to a minimum of 40 hours a week to receive leads.  It’s recommended that you start in the field by 9am and that you put in a solid full days work, until your goal is met.  If you fall short work the following day until you make up your daily goal.  Most of the time is spent talking with people in their homes.