Life & Final Expense Insurance

A Beginner’s Guide to Final Expense Insurance: Everything to Know

Are you thinking of selling final expense insurance? If so, this can be a savvy career move.

Reports indicate that the final expense insurance is rapidly expanding and set to see huge growth by 2025.

If you are breaking into insurance sales, final expense is one of the most lucrative types of insurance to focus on selling.

However, before you start, you must understand how final expense insurance works. Otherwise, you won’t be able to sell its benefits to your clients or advise them when to take out a final expense policy, what type to choose, and for what amount.

Kick start your understanding of final expense insurance now by reading this post. Here we get into everything you need to know as a beginner who is still learning about the different types of insurance products you can sell.

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Life & Final Expense Insurance

A Beginner’s Guide to Becoming a Life Insurance Agent

With annual revenue of more than 1.2 trillion dollars, the United States insurance industry is the largest in the world. And it’s only going to grow.

Because the insurance market isn’t fully saturated, there’s room for people like you to enter the field.

If you’re looking for a career with endless growth potential that is both financially and personally rewarding, you should consider becoming an insurance agent. It’s easy to get started when you know what steps to take.

Are you thinking of starting a career as a life insurance agent?

Selling life insurance can be a lucrative career choice. Estimates state that the average insurance agent’s salary is $106,428 per year. Broken into hourly rates, this equates to an average of $51 per hour.

What’s more, if you can crack the code of being a highly successful life insurance sales agent, you can earn up to $142,000 per year and build a sizable source of passive income.

However, insurance sales is a competitive arena. The BLS estimates that there were 409,950 life insurance agents in the United States in 2020.

That said, it is possible to create a successful insurance agent career for yourself.

The key is understanding what it takes and how to start.

Keep reading for our ultimate guide to jumpstarting your career as an insurance agent.

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Insurance Insights

How to Build Your Client Base Back up After a Tough Year

According to recent study results, independent insurance agents took a beating last year. Thanks to the disruption of the pandemic, many independent agents found themselves selling fewer policies.

However, COVID-19 hasn’t been all bad for insurance sales. Survey results also reveal that the pandemic has spurred more people to think about buying life insurance.

If you are looking to build your client base back up—now’s the time to start. However, you need to be smart about where you invest your energies.

Otherwise, you might end up wasting time and money on expensive or ineffective promotion methods.

Ready to reel in those clients and drive sales? If yes, read on for several ways you can attract more clients in 2021.

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Insurance Insights

A Must-Know Referral Source for Lead Generation

Did you know there were 409,950 life insurance agents in the United States in 2020?

That’s a lot of competition, especially now that many insurance sales take place online and telephonically. Gone are the days where you just had to top your local competition.

Reports show that while consumers historically preferred in-person sales, in 2020, most people would rather buy insurance online and via the phone.

This means that you need to work double-time to stand out. One powerful way to do this is through referrals. In this post, we’re sharing a little-known referral source that insurance agents often overlook.

Ready to start ramping up your referrals? If yes, keep reading to find out what this overlooked referral source is and more.

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