Today we’re going to be talking about final expense. I’d like to welcome and give a shout-out to a couple of agencies joining us. I want to welcome our friends from HITO Insurance. I met with their office a couple of weeks ago. I’d also like to welcome the folks from Silvercrest. Both of these offices are Medicare-focused and do a great job serving their community and helping clients navigate that confusing Medicare world. These agencies are now seeing the connection between final expense and Medicare, and vice versa. I’d also like to say hello to others joining us today who also work in Medicare. Grab some coffee and a notepad—we’re going to jump into today’s coaching call.

We do a version of this coaching call every month on the first working Monday, so mark your calendars. Our next one will be March 3rd. Hopefully by then we’ll start seeing signs of spring.

Here’s our agenda. We’ll go over the Final Expense Architect Program for those of you focused primarily on final expense or considering getting involved in that market. We’ll discuss carrier and industry updates, provide sales ideas and concepts, and talk about approaching Medicare clients for final expense opportunities. We’ll look at what’s hot and then answer your questions. You can type questions at any time, and I’ll circle back and address them.

For those of you laser-focused on final expense and helping seniors, we offer our Final Expense Architect Program. This includes access to sales materials such as scripts and guides, and our online quoting tools. For Medicare-focused agents, we also have turnkey materials you can use. We offer webinars, seminars, and a variety of training options. For those not working their Medicare book, we have lead resources as well. Final expense leads you buy today can become Medicare leads tomorrow, and your Medicare clients today can become final expense clients tomorrow. We have direct mail, digital leads, and everything in between. Your lead expenses are subsidized based on your production.

If you’ve been doing this for a while, you know we provide lead subsidies. I do ask that you submit activity reports either weekly or before the end of the month so I can match your production with the appropriate subsidies. We also provide training from elite-level producers who are willing to share exactly what they do and how they do it. We offer top contracts, our Final Expense Closers Clinic, and access to more than twenty different carriers—many with bonuses and incentive trips. Once you get started, final expense becomes a simple process. It’s just like learning Medicare: once you understand it, it becomes second nature.

We offer a final expense quote engine on our website. You select the state, client’s date of birth, gender, tobacco use, and face amount, and the system does the price shopping for you. You’ll see top carriers like Transamerica, Mutual of Omaha, Foresters, Aflac, Aetna, and Liberty Bankers. It’s a competitive lineup.

Now let’s talk about seeing a need and meeting a need. Why do we do what we do? When you work in Medicare, your goal is to find the client a cost-effective plan that meets their needs and budget, ensuring they can see their doctors and receive care when needed. Final expense is similar, but sometimes you need to help clients recognize the needs they might not have considered. It can cover funeral and cemetery costs, and also help survivors continue making payments on car loans, replace lost income, keep up with mortgage or rent, utilities, food, and other expenses. It helps families focus on supporting each other, not on finances.

Let me open your eyes with a question. What do Colonial Penn, AARP, and Globe Life have in common? They all advertise heavily, targeting older consumers. Their clients must call a toll-free number, and those companies often offer products that look inexpensive but have significant limitations. Colonial Penn’s well-known plan, for example, has no health questions but only returns premiums plus minimal interest for the first two years. We offer guaranteed issue products that are significantly cheaper, have locked-in rates, and return premiums plus 10 percent interest tax-free.

AARP advertises very low rates, but the fine print reveals that premiums increase every five years and the policy ends at age 80. With our products, rates are locked in for life. They never increase, and coverage never ends as long as premiums are paid.

When you meet with clients, your goal is simple: provide a plan that begins immediately, can never be outlived, and has rates that never change. Final expense underwriting is extremely liberal. People with diabetes, lupus, MS, high blood pressure, high cholesterol, or past heart attacks, cancer, or strokes—depending on timing and stability—can often qualify for day-one coverage. Get to know your carriers and their underwriting guidelines.

Now let’s talk about a carrier update. I want to highlight Transamerica. For those who have been in the business a long time, you may have mixed feelings about them. But at the end of 2024, Transamerica rolled out a brand-new digital final expense platform called Final Expense Express. It’s completely digital—no more dealing with the home office for paper processing. You log in and submit applications through the agent portal, whether you’re on the phone, face-to-face, or even via Zoom. You receive an underwriting decision immediately. The application takes about ten minutes from start to finish. Clients recognize the Transamerica name, and you can write up to $50,000 in whole life with very liberal underwriting. Best of all, Transamerica includes the Everest Funeral Planning Concierge Service. When the client passes away, Everest helps the family plan the funeral, compare pricing, and avoid unnecessary add-ons.

Now let’s get into sales ideas and concepts, specifically selling to your Medicare clients. We’ve created turnkey letters and intake forms that help identify clients open to discussing more than just Medicare. Conversation starters are essential. Here’s a number you should write down: 20 percent. That’s the percentage of your Medicare clients who are buying final expense from someone else because you’re not contacting them about it. If you're not talking to them about final expense, someone else is, and that person could eventually circle back and take their Medicare business too. Close the door on your competition by offering more than just Medicare.

The Medicare and final expense market overlap almost perfectly. Some clients may need annuities or long-term care instead, and those opportunities emerge naturally when you stay engaged.

Send the letters. Follow up with phone calls. Even if a client didn’t check the box for interest, call them anyway. Stay engaged. Don't allow your clients to forget your value.

Here are some conversation starters. You need to be direct, because many people avoid talking about death. But everyone needs a plan.

One: Are you aware that there is a state-regulated program designed to help you cover your final expenses that is backed by life insurance?

Two: If you had passed away last night, who would be responsible for planning your funeral today?

Three: Are they aware of that responsibility? Do they know what you want? Do you prefer burial or cremation? How will they pay for it?

Many people say they have money in the bank. Bank accounts get frozen at death and go through probate. Life insurance avoids probate and is tax-free.

Most cremations run between five and seven thousand dollars, sometimes more. Burials typically run between ten and fifteen thousand. Some families want additional funds for gatherings, flowers, or other personal touches.

When you present the state-regulated final expense program, make sure to lower their guard. Tell them you are not allowed to accept or ask for any money today. You're simply helping them qualify and giving them information. This helps clients who already spent their Social Security check and gives them time to discuss it with family.

A few key reminders. Know your carriers. Show all benefit options. Provide value. They get you, not a call center reading a script. Ask for the business. Ask for referrals. Don’t suffer in silence—contact me or anyone on the Life Markets team for help. Request access to our Final Expense Closers Clinic, which dives into appointment setting, presentations, overcoming objections, and getting referrals. You must be contracted with URL to access it.

Here’s what’s hot. Our Life and Annuity Sales Symposium is coming up on Thursday, April 3rd. We’ll cover everything life and annuity related with a great panel of experts. Register today.

Also beginning today is our Life Markets Buzzer Beater Sales Battle, a sales contest running through April. For every $1,000 of annualized premium you write—final expense or traditional life, excluding guaranteed issue—you earn points. The top producer wins $1,000 cash, with second place at $500 and third at $250. Just write business with URL to participate.

We also have our final expense Facebook community, where agents collaborate, ask questions, and support each other. I monitor it and jump in when needed.

That concludes the February coaching call. If you need leads or turnkey marketing materials, contact me. If you receive lead subsidies, make sure you send activity reports so we can keep your lead flow running. We'll meet again next month on Monday, March 3rd.

And to my Medicare agents: I want to hear about your wins. Some of you tried selling final expense for the first time this month and already made sales. Congratulations. Keep me posted.

Thank you all for your time. I hope you found this information helpful. It’s all about having conversations, asking for the business, and helping people see the need. We are here to support you. Have a great month, stay connected, and let me know how I can help. Until next time, stay safe.