Selling Final Expense From Home: A Insurance Guide

Written by Matthew King, time it takes to read this article is  minute(s).

We all know times are tough right now. As many Americans struggle to get by, they aren’t even thinking about what will happen after they die. Paying for funeral and burial expenses is out of the question for many who are struggling.

That’s where final expense insurance comes in.

Are you looking for a career that will give people hope and peace of mind? Consider selling final expense insurance.

Selling final expense from home can earn you big bucks while also making a difference. Keep reading to learn more about how to start selling insurance from home today.

Understanding Final Expense Insurance

If you want to be successful in selling final expense insurance from home, you have to have a solid understanding of your product. The more prepared you are to answer any questions your leads may have, the more likely you will be to close the deal. So what is final expense insurance?

Final expense insurance is a type of life insurance that offers coverage only for funeral expenses and other end-of-life expenses. The point of final expense insurance is to protect loved ones who may get stuck footing the bill for the cost of a funeral and other end-of-life costs.

When you’re selling final expense insurance, you are selling protection for your lead’s loved ones after their death. Final expense insurance policies range from anywhere between $5,000 in coverage to $50,000. Unlike other types of life insurance, final expense insurance doesn’t require a medical exam.

The senior market is growing rapidly, and selling final expense insurance can be a rewarding and lucrative career option.

Types of Final Expense Insurance

There are four main types of final expense insurance policies that you will be selling. It’s important to have a good understanding of each of these types of plans. This will allow you to present your leads with all of their options and help them choose the best one for their needs.

Types of final expense insurance plans include:

  • Level
  • Guaranteed issue
  • Graded
  • Modified

Let’s take a look at the four different types of policies in greater detail:

1. Level Plans

Level plans are beneficial to both clients and agents. This is because they are highly cost-effective for clients and also pay high commissions.

Level plans pay the full amount of the policy benefit immediately upon the death of the insured. This means that even if the insured passes away during the first week that they have the policy, the coverage will be paid out as long as all the answers to the health questions check out as true. Note: Companies will always double-check this during the first 2 years.  (Contestability Period).

Other types of final expense policies have waiting periods and less convenient payment methods.

2. Guaranteed Issue

Guaranteed issue final expense policies are just as they sound. Because there are no health questions at all, your clients are guaranteed to be approved.

This will be the best option for your clients who would otherwise be uninsurable because of a pre-existing medical condition.

3. Graded Plans

Graded final expense insurance plans are often the best option for those with pre-existing health conditions. These policies pay out the coverage amount on a graded scale, usually over the course of the first few years of the policy rather than all at once.

This schedule is determined by how long the insured had the policy at the time of their death.

4. Modified Plans

Modified burial plans are very similar to graded plans. The difference is that these plans are reserved for those with high-risk preexisting conditions. Because the insurance company is taking on greater risk, they will only write a plan with a reduced payout schedule.

As an agent, it’s important to explore all of your client’s options with various carriers to get them the best plan with the lowest costs. 

Your Target Audience

The market for selling final expense insurance is similar to the market for Medicare Advantage and Medicare supplement plans. If you have any experience selling Medicare, you will likely do well with final expense sales.

Selling final expense insurance is such a good option right now because there is a large market. Your leads will include those who can’t afford to pay for a funeral in advance, those who want to protect their savings, and those who don’t want a funeral trust that requires them to have a funeral home as their trustee.

The biggest reason people purchase final expense insurance is to ensure that their passing doesn’t become a financial burden for their surviving loved ones. Final expense insurance is generally purchased by those ages 50-80 with a household income of $0-$50,000.

Pro Tip: If you want to really connect with your target audience, you’ll want to stay updated on the funeral industry as a whole. People are purchasing policies with lower coverage amounts, which makes sense because more people are opting to be cremated.

Cremation rates are expected to continue to increase over the coming decades. When selling final expense insurance, being armed with information like this will make you appear more relatable and more credible to your leads.

Are There Upfront Costs?

When you decide to start selling insurance from home, you are essentially starting your own business. If you want to succeed, you have to take this business venture seriously and make some investments.

It’s generally recommended not to leave your current job until you have enough money saved to make the necessary investments to start selling insurance and a safety net to get you by while you start building your portfolio.

Here are some of the initial expenses you can expect:

  • Leads
  • E&O insurance premiums
  • Internet service
  • Phone service
  • Vehicle expenses
  • The ability to fax

Now, let’s take a look at these expenses in greater detail to learn more about why they are important.


When selling final expense from home, you’ll have to buy leads. This usually means purchasing a certain number of new leads each week. 20 is a good starting amount.

The cost of leads depends on your source and the type of lead you want to buy. Certain types of leads are more expensive than others. Quality is more important than quantity, and you want to make sure you are purchasing high-quality leads.


Most insurance carriers will require you to purchase Errors and Omissions Insurance (E&O). This type of insurance protects you and the insurance carrier you are working for if you make a mistake. Having insurance will offer you peace of mind when you’re first starting out, and are more likely to make a mistake.

If you provide incorrect information to a client and they take legal action against you, this insurance will cover your legal costs. Having insurance makes you appear more trustworthy to both insurance carriers and clients.


If you’re selling insurance from home, you will need to pay for high-quality internet services.


Selling insurance from home also requires you to have a reliable phone. You may want to have a cellphone dedicated to your business that is separate from your personal phone, but this is up to you. Make sure you choose a reliable cell phone carrier.

Vehicle Expenses

If you plan to work in the field and make appointments with clients face-to-face, you will need a vehicle. Associated expenses include the cost of gas, insurance, maintenance, and repairs.


Some insurance carriers will require you to fax in applications. You can purchase a fax machine for your home office or pay for online fax services. Whichever method you choose, it’s important to have the ability to send faxes in this industry. 

Getting Started Selling Final Expense From Home

The first thing you need to do is get your license to sell life insurance. Each state has its own requirements for getting this license.

Some states will require you to pass a moderated test. Others will require you to take a course in person. Check with your state to learn more about becoming licensed.

Once you get your license, you should commit to selling only final expense insurance during this time. Doing this will help you stay focused and help you learn everything you can about the market. Focus on establishing your own business before trying to recruit other agents.

Invest in your business and get started by following a proven sales system. You’ll also want to find a Final Expense Independent Marketing Organization (IMO). Your IMO will provide support, training opportunities, lead sources, and other programs.

Making Sales

You may choose between selling insurance over the phone or in person. Choosing to sell over the phone may be easier, but making in-person appointments and meeting with your clients may be more rewarding. Selling insurance from home is convenient because it’s such a flexible and customizable career.

When it comes to making sales you might consider following a sales script or telemarketing script. You’ll learn more about this during your training.

When you meet with a lead either via telephone or in person, you want to build rapport and then get them to understand why they need the product you are selling. How does it benefit them?

It’s important to explain what they can expect from you and present facts. Following these steps will set you up for a smooth closing and closed sale.  

Do You Want to Start Selling Insurance From Home?

There’s never been a better time to start selling insurance from home. If you’re looking for a flexible career where you can make a difference in peoples’ lives, you might enjoy selling final expense insurance.

Getting started is easy when you have the right resources. Click here to learn more about how our membership plans can help you jumpstart your insurance career today.

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