Top 19 Final Expense Insurance Companies For Agents

Are you on the lookout for adding final expense insurance companies that will enhance your offerings to your final expense leads?

If so, you have come to the right place!

In today’s article, I conduct a deep dive into the best final expense companies to work for available to new and experienced agents selling final expense insurance.

My goal is to expand your knowledge of the best final expense insurance companies to sell for.

That way you can take advantage of the list of final expense insurance companies I compiled to help you close more final expense policies.


Overview


How I Categorize Final Expense Life Insurance Companies

How to organize your final expense insurance carriers.

In reviewing this list of the best final expense insurance companies to sell for, it is overwhelming for many.

That’s why I organized these 19 final expense companies in terms of their unique strengths and qualities.

Specifically, there are 5 main categories: best all-around, low-pricing, niche underwriting, guaranteed issue carriers, and notable mentions.

More info below:

Best All-Around

These are the best final expense carriers to sell for.

These companies represent the best final expense insurance companies to sell for in terms of underwriting flexibility, ease-of-use, and premium competitiveness.

Therefore, seriously consider making one of these final expense life insurance carriers your “go-to” company when at all possible.

Price-Buster Companies

It's important to have final expense insurance carriers that are low-priced leaders.

While these products have tighter underwriting, the premiums are low enough to use them when you need the lowest premiums possible.

For example, these final expense carriers are best used with healthy final expense prospects, or if replacing inferior coverage.

Niche Underwriting

These final expense carriers typically compliment your core carrier in covering health conditions your best all-around company doesn’t.

Carrying at least one company from these carriers is a must as an independent agent.

Using these niche final expense companies, you’ll write more business at competitive rates and with better underwriting.

Guaranteed Issue Carriers

Every final expense agent needs to carry a no-questions asked guaranteed issue product.

Approximately 10% to 20% of your book of business has health issues so severe they cannot qualify for anything other than a guaranteed issue final expense company.

Notable Mentions

These are final expense companies worth considering, but aren’t necessarily “best in class.”

For example, they may be easy to use but have higher than normal premiums. Or vice-versa.

Consider picking one of these final expense insurance companies if you cannot otherwise select a best all-around or niche carrier.


The Best Final Expense Insurance Companies To Sell For

Without further adieu, let’s discover what the best final expense insurance companies to sell for are, what their advantages are, and why you would use them.


Top Core Final Expense Carriers

Trinity Life/Family Benefit

State Availability: Available in ALL the following states: Trinity Life – IL, KS, KY, NE, ND, OH, OK, TX – Family Benefit – AZ, AR, CO, GA, IN, LA, MO, NC, NM, PA, SD, TN, WV, UT, AL, MS, VA, MI – Complete availability map here.
Advanced Commission Payout: 75% advance with half of your advance on issue, the other half on first draft.
Application Type: Paper with point of sale interview, -or- a paperless, telephonic application
Issue Ages: 50-85 (Level) – $2,500 to $25,000 face amount range, 50-80 (Graded) – $2,000 to $10,000 face amount range
Conditions Considered For Level Coverage:

  • Insulin started at age 40 or later
  • Diabetic neuropathy
  • 2 year look-back on cancer and most cardiac event history
  • Atrial Fibrillation/Arrhythmia
  • Nitroglycerin accepted as long as no fills or usage within 12 months.
  • Blood thinners like coumadin, warfarin, and plavix.

Why Agents Sell With Trinity/Family Benefit:

  • 5% lead bonus payable to any lead vendor you want, after issuing $5000AP+ monthly.
  • Paperless voice authorization telephone application virtually eliminates amendments while providing an instant qualification decision at the end of the phone call.
  • Rates are some of the lowest available, increasing first-year persistency (and ultimately how much money you actually KEEP).
  • Compared to other final expense life insurance companies, they have a small company feel – you can talk to the Sales VP Alvin Begnoche or the Senior Underwriter with underwriting questions at any time during normal business hours.
  • Underwriting is liberal enough to accept a large cross-section of your clients.
  • Convenient Social Security Deposit Drafting reduces lapses due to missed payments, increasing your persistency.
  • Accepts Direct Express (must limit Direct Express business to 20% of your total book of business).

Interested in finding out more about Trinity Life/Family Benefit?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more about why Trinity/Family Benefit makes a great core final expense carrier.


Oxford Life

State Availability: Available in most states. See chart here for details.
Commission Payout: 75% advance – Advances on ISSUE
Application Type: Paper or Electronic Application with *instant* underwriting decisions (no phone interview required!).
Issue Ages: 50-85
Minimum issue amount: $5,000
Maximum issue amount: $30,000
Conditions Considered For Coverage:

  • Diabetics using pills or insulin starting at age 30 or later.
  • 2 year look-back on most cardiac event history.
  • 2 year look back on cancer removal/remission (can only have had cancer once).
  • Atrial Fibrillation/Arrhythmia considered for coverage

Why Agents Choose To Write Oxford Life:

InstaWrite feature provides a web-based, instant-decision underwriting outcome on average in 60 seconds after submitting your clients information!

E-App eliminates frustrating go-backs for missed signatures and dates.

In many states, Oxford is a low-price leader that most final expense life insurance companies will struggle to compete against. Competitive prices arguably increases persistency.

Fast pay – as long as you qualify, you receive a 75% advance that pays on issue. In other words, you get paid a day or two after you use the InstaWrite feature along with the e-app process.

Interested in finding out more about Oxford Life’s final expense product?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Oxford Life as their core carrier.


Prosperity Life/SUSA

State Availability: Available in all states EXCEPT: Connecticut, Montana, North Dakota, New Hampshire, and South Dakota. This product IS available in New York State by paper application only.
Commission Payout: 75% advance – can get an advance on issue (EFT payments only)
Application Type: Paper, Telephonic App, or Instant Decision E-App (Accessible through smartphone, tablet, or laptop with Chrome browser)
New Vista Final Expense Product Details:

  • Level (1st day full coverage), Graded (30%/70%/100%), Or Modified Plans (2 Year Return Of Premium Plus 10% Interest)
  • Face Amounts: 50-80 – $1,500 to $35,000 (Minimum in Washington is $5,000)

Conditions The New Vista Product Covers:

  • Insulin use NOT an underwriting factor.
  • 3-year look-back on cancer removal/remission.
  • 2-year look-back on most cardiac event history.
  • Oxygen use with CPAP is considered for Level coverage (cannot have lung diseases like COPD).

Reasons Why Agents Select The New Vista Product Over Others:

  • A 10% commission bonus each quarter if you issue-pay in excess of $20,000 in premium.
  • Social Security Deposit Billing improves persistency and reduces lapses due to missed payments.
  • E-app process provides an instant decision Level, Graded, or Modified shortly after submitting while still at the client’s home. No more required phone interviews or submitting the app for approval.
  • Full commission at all ages on ALL products – no commission haircuts because your client is older or not in good health. Most final expense life insurance companies do NOT pay full commission on all product versions.
  • Smoker rates ONLY apply to cigarette users – weed smokers, vapers, chewers, dippers, cigar and pipe users qualify for NON-smoker rates.
  • Competitively-priced rates reduce replacement risk.

Interested in finding out more about The Prosperity Group’s New Vista final expense product?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Prosperity Life as their primary carrier.


Royal Neighbors Of America

State Availability: Available in all U.S. states EXCEPT AK, AL, HI, LA, MA, NH, & NY.
Commission Payout: On issue, typically a day or two after your policy is approved over the phone!
Application Type: E-App with instant decision, Paper App (Interview conducted *after* face-to-face appointment) or Voice Signature paperless app (conducted *during* the point of sale meeting). In most cases you’ll use the Voice Signature app.
Basic Product Information:

Simplified Issue Whole Life Product (Day 1 Full Coverage)

  • Issue Ages: 50-85
  • Minimum issue amount: $5,000
  • Maximum issue amount: $25,000

Graded Death Benefit Whole Life Product (30%/70%/100%)

  • Issue Ages: 50-85 (50-78 in WA only)
  • Minimum issue amount: $5,000
  • Maximum issue amount: $10,000

Conditions Covered

  • Diabetic-friendly: takes insulin users that started at age 30 or greater as Level coverage – diabetic neuropathy NOT asked about on the application, meaning Level coverage is a possibility.
  • 2-year look back on most cardiac events
  • 2-year look back on cancer removal/remission
  • Blood thinners like coumdain, warfarin, and Plavix OK for Level coverage (assuming 2-year cardiac look-back has passed).

Reasons Why Many Agents Lead With Royal Neighbors’ Final Expense Product:

  • Voice Authorization application provides an instant underwriting decision and eliminates paperwork. No more frustrating second appointments to collect missed signatures or to explain any plan changes like with other final expense life insurance companies.
  • Agents paid on ISSUE, 1 to 2 days after completed the Voice Authorization app!
  • Useful fraternal benefits help sell the “sizzle” to the steak.
  • Rates are competitive for people 60 and older, so less concerns about replacement risk.
  • UPDATE: E-app *with instant decision* now available!

Interested in finding out more about using Royal Neighbors of America’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Royal Neighbors as lead carrier.


Price-Buster Carriers


Standard Life And Casualty

State Availability: AL, CO, FL, GA, IN, KY, LA, MS, NV, NC, SC, SD, TN, TX, UT
Commission Payout: On issue if the agent is eligible.
Application Type: Paper with required point-of-sale interview
Basic Product Information:

Secure Advantage Product (Level Coverage, ages 50-85)

  • 50 to 80 – $5,000 to $25,000
  • 81 to 85 – $5,000 to $15,000.

Conditions Covered

  • 2-year look back on cancer remission/removal
  • 2-year look back on most cardiac event history (strokes, heart attacks, stents OK for coverage after 2 years).
  • Diabetic’s Best Friend: Zero look-back on insulin use at any age AND diabetic neuropathy is NOT asked about on the application.

Reasons Why Agents Use Standard Life And Casualty’s Final Expense Product:

  • Offers some of the lowest smoker rates available for both men and women compared to other final expense life insurance companies.
  • Non-smoker rates are in the 10% most competitive range compared to other carriers.
  • Makes a great carrier to replace your prospect’s overpriced or inferior coverage while simultaneously minimizing the chances that they’ll consider replacing yours later, since the premium rates are so low.
  • Flexible underwriting in combination with great premium rates makes Standard Life And Casualty’s Secure Advantage final expense product a “must-have.”

Interested in finding out more about using Standard Life And Casualty’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Standard Life And Casualty.


Lifeshield Life Insurance Company

State Availability: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, DC, Delaware, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Mississippi, Missouri, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wyoming
Commission Payout: On policy ISSUE!
Application Type: Paper only with *no* required phone interview (Lifeshield reserves the right to do one if there are medical information discrepancies).
Basic Product Information:

The Survivor

  • Issue Ages: 45-85
  • Coverage Type: Level Or Graded
  • Face Amount Range: $3,500 to $30,000

Conditions Covered

  • 2-year look back on most cardiac event history (strokes, heart attacks, stents OK for coverage after 2 years).
  • Non-insulin diabetics *without* diabetic complications may qualify for Level coverage.
  • Depression and bi-polar considered for level coverage.

Reasons Why Agents Use Lifeshield’s Final Expense Product:

  • Consistently among the top 3 final expense life insurance companies with the lowest premium rates for males (smoker or non-smoker) and female smokers.
  • Does NOT check prescription history to determine insurability; only checks MIB to determine qualification.
  • No phone interview required – just write the policy and go on to the next appointment!
  • Flexible underwriting in combination with great premium rates makes Lifeshield’s final expense product a “must-have.”
  • Convenience plus underwriting make Lifeshield a great product to get your healthier clients coverage for, whether as a first-time policy, additional policy, or using Lifeshield to replace inferior coverage.

Interested in finding out more about using Lifeshield’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Lifeshield.


Unique Underwriting Niche Carriers


Foresters

State Availability: Available in ALL states
Commission Payout: Pays on first draft
Application Type: Paper only with required phone interview to determine insurability.
Basic Product Information:

Foresters PlanRight Whole Life Final Expense Product:

  • Preferred Coverage (Full Death Benefit): Ages 50 to 80: $2,000 to $35,000 – Ages 81-85: $2,000 to $15,000
  • Standard Coverage (Full Death Benefit at a higher premium than Preferred): Ages 50 to 80: $2,000 to $20,000 – Ages 81-85: $10,000
  • Modified Coverage (Year 1 – ROP plus 10% annual interest, Year 2 – ROP plus 10% annual interest, Year 3+ – 100% of the face amount in effect ): Ages 50 to 80: $2,000 to $15,000 – Ages 81-85: Not available

Conditions Covered

  • 1-year look back on most cardiac conditions for Standard Rates; 2-year look-back for Preferred rates.
  • COPD may qualify for Standard rates.
  • Parkinson’s, Systemic Lupus (SLE) may qualify for Standard rates.
  • Liver diseases (hepatitis C, cirrhosis) and kidney diseases (not requiring dialysis) may qualify for Standard rates.
  • Insulin usage is *not* asked about on the application

Reasons Why Agents Use Forester’s Final Expense Product:

  • Foresters updated PlanRight product offers first-day full coverage to many niche-based health conditions that our primary line-up of the best final expense insurance companies to work for do not. Covering those hard-to-cover issues means better persistency and happier clients.
  • Required phone interview allows you to know whether or not your client is approved before you leave the home.
  • Fraternal benefits offered to members helps sell the “sizzle” of the steak.

Interested in finding out more about using Forester’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Foresters.


Transamerica

State Availability: Available in all 50 states including Washington DC.
Commission Payout: Pays on first draft
Application Type: Paper or Electronic Application (e-app *not* available in New York)
Basic Product Information:

Immediate Solution Plans (Lifepay and 10-pay options available)

  • Age Availability: 0-85
  • Coverage type: Level Coverage at Preferred Or Standard Rates
  • Minimum issue amount: $1,000
  • Maximum issue amount: 0–55 $50,000 56–65 $40,000 66–75 $30,000 76–85 $25,000

Easy Solution Product

  • Age Availability: 18-80
  • Coverage Type: 2-Year Return Of Premium Plus 10% Interest
  • Minimum issue amount: $1,000
  • Maximum issue amount: $25,000

Conditions Covered

  • 1-year look back on most cardiac conditions for Standard Rates if occurred after age 45; 2-year look-back for Preferred rates if the event occurred at age 45 or later.
  • Lung diseases like COPD may qualify for Standard rates.
  • Parkinson’s diagnosed aged 45 or later may qualify for Standard rates.
  • One of the best final expense insurance carriers for agents to accept angina treated with nitroglycerin related products like isosoribde mononitrate.
  • Kidney Disease/Disorder (Chronic Kidney Disease) may qualify for Standard rates.
  • Insulin started after age 18 OK for Standard coverage, and diabetic neuropathy is *not* asked about on the application.

Reasons Why Agents Use Transamerica’s Final Expense Product:

  • Updated final expense application process is now entirely e-app based with the *possibility* of an instant decision on case submissions.
  • Hard-to-cover health issues like COPD, diabetic neuropathy, and certain cardiac event history within the last 12 to 24 months considered for first-day full coverage Standard rates.
  • Transamerica accepts your Direct Express clients.
  • Offers true Social Security Deposit billing to improve persistency and quality of business.

Interested in finding out more about using Transamerica’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Transamerica’s final expense product.


Liberty Bankers Life

State Availability: Available in all states EXCEPT: Alaska, Massachusetts, Minnesota, Rhode Island, New York, Vermont, New Hampshire, Connecticut
Commission Payout: Pays on first draft
Application Type: Paperless telephonic application ONLY
Basic Product Information:

SIMPL Preferred or Standard Plans

  • Age Availability: 18-80
  • Coverage type: Level Coverage at Preferred Or Standard Rates
  • Minimum issue amount: $3,000
  • Maximum issue amount: $30,000

SIMPL Modified Plan

  • Age Availability: 40-80
  • Coverage Type:
    • First 3 Policy Years: If death occurs as a result of an accident, the death benefit is 100% of the policy face amount. The non-accidental death benefit is equal to a refund of all premiums paid to date plus 10% compounded.
    • 4th Policy Year: The death benefit is 100%.
    • 5th Policy Year: The death benefit is 105%.
    • 6th Policy Year and Beyond: The death benefit is 110%.
  • Face Amount Range: $1,000 to $20,000.

Conditions Covered

  • 2-year look back on certain cardiac event history for Preferred coverage (heart attacks, strokes, stents).
  • Lung diseases like COPD may qualify for Standard rates.
  • Parkinson’s may qualify for Standard rates.
  • Hepatitis C: Once treated may immediately qualify for Standard rates.
  • Kidney Disease/Disorder (Chronic Kidney Disease) may qualify for Standard rates.
  • Insulin-friendly for Standard or Preferred rates (diabetic neuropathy is rated Modified).

Reasons Why Agents Use Liberty Banker’s Final Expense Product:

  • Final expense application completely telephonic; takes an average of 20 minutes to complete the application and receive the underwriting decision. Very easy application procedure compared to other final expense life insurance companies.
  • Hard-to-cover health issues like COPD, Parkinson’s, and Hepatitis C history considered for first-day full coverage Standard rates.
  • Just-in-time contracting in most states allows you to write Liberty Bankers Life *before* getting appointed.

Interested in finding out more about using Liberty Bankers’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Liberty Bankers Life.


United Home Life

State Availability: Review state availability here.
Commission Payout: Pays on first draft
Application Type: Paper or Electronic Application
Basic Product Information:

Express Issue Whole Life (graded death benefit for the first 2 years)

  • Year 1: benefit payable equals refund of premium plus 12% interest.
  • Year 2: benefit payable equals refund of premium plus 24% interest.
  • Full death benefit payable if death occurs due to accidental causes in the first two policy years
  • Issue Ages: 25-80
  • Face Amount Range: $5,000 to $25,000

Express Issue Deluxe (level coverage product from first policy date for natural and accidental death)

  • Issue Ages: 20-80
  • Face Amount Range: $5,000 to $50,000

Express Issue Premier (UHL’s best priced simplified issue whole life product with level coverage from first policy date for natural and accidental death

  • Issue Ages: 20-80
  • Face Amount Range: $5,000 to $100,000 (ages 0-60), $5,000 to $50,000 (ages 61-80)

Conditions Covered

  • Useful 2-year waiting period product (Express Issue Whole Life) asks few questions to determine eligibility.
  • Systemic Lupus (SLE) may qualify for first-day full coverage with the Deluxe plan.
  • Insulin-friendly

Reasons Why Agents Use United Home Life’s Final Expense Product:

  • The Express Issue Whole Life (2-year wait) product is very useful. It pays your FULL commission rate (no haircuts), and available at early ages, from 18 to 80. Not typical of most final expense life insurance companies.
  • Has large face amount availability for its Level coverage options for the cases where the client needs larger face amounts.

Interested in finding out more about using United Home Life’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use United Home Life.


Guaranteed Issue Carriers


AIG/American General

State Availability: Available in all states EXCEPT: Maine, New York
Commission Payout: Pays on first draft
Application Type: Paper or Electronic Application
Basic Product Information:

  • Available ages: 50-85
  • Face amount availability: $5,000 and $25,000.
  • How Coverage Works: Natural death coverage restricted to return of premiums plus 10% payout in months 1 to 24. Accidental death full coverage from day one.

Conditions Covered

  • ANYTHING and EVERYTHING. As long as your client can sign his name and is of sound mind, coverage is guaranteed issued!

Reasons Why Agents Use AIG/American General’s Final Expense Product:

  • Highest commission rates available for guaranteed issue products.
  • Near lowest or lowest-priced guaranteed issue product.
  • E-app option makes application submission super-simple.
  • Unlike other final expense companies that offer no advancing, American General advances 50% commission.
  • Accepts all forms of payment – bank draft, savings account draft, and all debit/credit card options.

Interested in finding out more about using AIG/American General’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use AIG.


Gerber

State Availability: Available in all states
Commission Payout: Pays on first draft
Application Type: Paper or Electronic Application
Basic Product Information:

  • Available ages: 50-80
  • Face amount availability: $5,000 and $25,000.
  • How Coverage Works: Natural death coverage restricted to return of premiums plus 10% payout in months 1 to 24. Accidental death full coverage from day one.

Conditions Covered

  • ANYTHING and EVERYTHING. As long as your client can sign his name and is of sound mind, coverage is guaranteed issued!

Reasons Why Agents Use Gerber’s Final Expense Product:

  • Competitively-priced guaranteed issue option for otherwise uninsurable final expense clients.
  • Name-brand recognition compared to other final expense life insurance companies helps build trust in your sales presentation.
  • E-app option makes application submission super-simple.
  • Accepts all forms of payment – bank draft, savings account draft, and all debit/credit card options.

Interested in finding out more about using Gerber’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Gerber.


Great Western

State Availability: Available in all states EXCEPT Alaska, Connecticut, Hawaii, Maine, Delaware, New York, and Vermont
Commission Payout: Pays on ISSUE
Application Type: Paper or Electronic Application
Basic Product Information:

Assurance Plus (level) & Guaranteed Assurance (guaranteed issue)

  • Available ages: 40-80
  • Face amount availability: $1,000 to $40,000
  • WA: $5,000-$40,000 for Assurance Plus; Guaranteed Assurance is *not* available.
  • How Coverage Works For Guaranteed Issue Product: Natural death coverage restricted to return of premiums plus 10% payout in months 1 to 24. Accidental death full coverage from day one.

Conditions Covered

  • ANYTHING and EVERYTHING. As long as your client can sign his name and is of sound mind, coverage is guaranteed issued!

Reasons Why Agents Use Great Western’s Final Expense Product:

  • Best agent charge back protection: coverage in force after 9 months protected from charge backs due to death. Nice! Most final expense life insurance companies do not offer this level of protection.
  • Guaranteed issue product pays renewals.
  • Super-simple e-app or paper app (3-4 pages long).
  • Helpful for younger-age guaranteed issue between 40 and 49.
  • Helpful when the prospect only wants cremation; only guaranteed issue coverage with a minimum of $1,000 in coverage.
  • Accepts all forms of payment (*must* do e-app to set up a debit/credit card/Direct Express payment.

Interested in finding out more about using Great Western’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Great Western.


Notable Mentions


Security National Life

State Availability: Available in all states EXCEPT: Massachusetts, North Carolina, West Virginia, New York, Connecticut, Maine, Rhode Island, New Hampshire, Washington, Vermont, Virginia, New Jersey, Montana, North Dakota, and South Dakota
Commission Payout: Pays on first draft
Application Type: Paper or Electronic Application with an instant underwriting decision
Basic Product Information:

Simple Security Plan (Preferred & Standard are level coverage options; Modified is a two-year return of premium plus 10% plan).

Age Range And Face Amounts

  • Preferred:
    • 40-75 – $2,500-$35,000
    • 76-80 – $2,500-$15,000
    • 81-90 – $2,500-$10,000
  • Standard:
    • 40-75: $2,500-$25,000
    • 76-80 – $2,500-$15,000
    • 81-90 – $2,500-$10,000
  • Modified:
    • 40-75: $2,500-$25,000
    • 76-80 – $2,500-$15,000
    • 81-85 – $2,500-$10,000

Conditions Covered

  • Insulin use may qualify for Standard rates.
  • 2-year look back on some cardiac event history (IE, heart attacks, strokes, stents)
  • 2-year look back on cancer remission/removal

Reasons Why Agents Use Security National Life’s Final Expense Product:

  • E-app provides instant underwriting decision on application submission, eliminating paperwork and phone interviews.
  • Social Security deposit billing increases persistency and client satisfaction.
  • Cover those older prospects ages 86-90 with either Preferred or Standard plans.
  • 10% co-op lead bonus paid when you issue-pay 1500AP a month or greater (a very low threshold bonus).

Interested in finding out more about using Security National’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Security National.


Mutual Of Omaha

State Availability: All states EXCEPT New York.
Commission Payout: Pays on issue
Application Type: Paper or Electronic Application with optional point of sale phone interview (no instant decision option)
Basic Product Information:

Living Promise Level Plan (Offers 1st Day Full Coverage For Natural And Accidental Death):

  • Issue Ages: 45-85
  • Minimum issue amount: $2,000 ($5,000 in WA)
  • Maximum issue amount: $40,000

Living Promise Graded Solution

  • How It Works: (For death due to natural causes (any cause other than accidental) during the first two years, the beneficiary will receive all premiums paid plus 10%. After the two years, the full benefit is paid for death due to all causes. Full death benefits will be paid, in all years, if death results from an accidental bodily injury.)
  • Age Availability: 45-80
  • Minimum issue amount: $2,000
  • Maximum issue amount: $20,000

Conditions Covered

  • Takes diabetics Level using insulin or not *as long as* diabetes diagnosis was at age 50 or *older*.
  • 2-year look back on most cardiac event history (heart attacks, strokes, etc.)
  • Maintenance Drug Friendly: Will take cancer preventative medications (anastrazole, tamoxifen, etc.) as long as client can answer the cancer question no, and will accept heavy blood thinners (coumadin/warfarin) after 12 months of usage, as long as the client can answer no to the cardiac-related questions.

Reasons Why Agents Use Mutual Of Omaha’s Final Expense Product:

  • Unparalleled name-brand recognition compared to other final expense life insurance companies. All your senior clients know Mutual Of Omaha from their childhood (research Wild Kingdom for more information).
  • E-app eliminates frustrating amendment signatures that come with using paper applications (NOTE: E-app does NOT offer an instant underwriting decision as of now).
  • No point of sale phone interview is required; nice for agents that like to write and run.

Interested in finding out more about using Mutual Of Omaha’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Mutual Of Omaha.


Assurant/American Memorial

State Availability: Available in the following states: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, MI, MN, MO, MS, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WI, WV, WY
Commission Payout: Pays on issue
Application Type: Paper or Tele-application (max face is $15,000 for telesales)
Basic Product Information:

  • Level Benefit Whole Life (Age Range: 0 – 85)
    • Ages 0-60: $5,000 to $50,000
    • 61-80: $3,000 to $25,000
    • 81-85: $3,000 to $20,000
  • Modified Benefit Whole Life – ROP Benefit (Age Range: 40 – 80)
    • Ages 40-60: $5,000 to $15,000
    • 61-70: $3,000 to $15,000
    • 71-80: $3,000 to $10,000

Conditions Covered

  • 2-year look back on certain non-congestive heart failure cardiac event history.
  • 2-year look back on cancer removal/remission.
  • Insulin started *after* age 45 considered for Level coverage.
  • COPD in certain circumstances accepted as Level coverage.

Reasons Why Agents Use Assurant/American Memorial’s Final Expense Product:

  • No commission haircuts on age or product type. This is unusual as most final expense life insurance companies cut commission on certain ages or products.
  • Face-to-face or virtual agents can use the telephonic application process to eliminate paperwork requirements.
  • Younger age availability on Level product useful to insure younger final expense clientele.

Interested in finding out more about using Assurant/American Memorial’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use American Memorial.


Americo

Commission Payout: Eagle Premier pays on issue; Ultra Protector pays on first draft.
Application Type: Eagle Premier (EP) – E-app and limited telephonic app times. Ultra Protector (UP)- paper and e-application.
Basic Product Information:

Eagle Premier AND Ultra Protector I and II Products (All are Level, Day 1 Full Death Benefit)

  • 50-85 Nonsmoker: $2,000 ($5000 in WA) to $30,000
  • 50-80 Smoker: $2,000 ($5000 in WA) to $30,000

Reasons Why Agents Use Americo’s Final Expense Products:

  • With the Eagle Premier product, smokers receive non-smoker rates for 3 years in new “Quit Smoking Advantage” program.
  • Eagle Premier offers an instant decision electronic application process – no more phone calls for approval or frustrating paperwork to deal with.
  • Both Eagle Premier and Ultra Protector offer flexible underwriting options for a host of conditions.

Interested in finding out more about using Americo’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Americo’s Eagle Premier and Ultra Protector products.


Sentinel Security

State Availability: See availability chart here
Commission Payout: Pays on draft
Application Type: Paper or Telephonic Application
Basic Product Information:

Age Availability For New Vantage 1 Plan (Offers 1st Day Full Coverage For Natural And Accidental Death):

  • Single Premium: 20 – 76
  • Ordinary (lifetime payments – most common way to write with Sentinel Security): 0 – 85
  • 10-Pay: 0 – 75
  • 20-Pay: 0 – 65
  • Paid-Up 65: 0 – 55
  • Paid-Up 85: 0 – 65

Face Amount Issue Limits

Minimums

  • Single Premium: $2,000
  • All Others:$1,000

Maximums

  • New Vantage 1: Ages 0-75 = $35,000, Ages 76-80 = $25,000, Ages 81-85 = $15,000
  • New Vantage 2: Ages 45-80 = $20,000, Ages 81-85 = $15,000
  • New Vantage 3: Ages 45-85 = $15,000

Conditions Covered

  • Clients taking less than 50 units of insulin daily may qualify for the Level plan (New Vantage 1).
  • Oxygen use for any reason considered for Graded coverage (one of the few final expense insurance companies that do).
  • Maintenance Medication Friendly: Nitro products and coumadin/warfarin/other blood thinners *may* be considered for a New Vantage I (Level benefit) if used as maintenance post a heart or circulatory event.

Reasons Why Agents Use Sentinel Security’s Final Expense Products:

  • Super-low premium rates for New Vantage 1 product (level benefit product). Can easily be used as your go-to final expense life insurance company for your healthier clients.
  • Competitively-priced New Vantage 2 and 3 products (Graded and Modified death benefit) useful for not-so-healthy applicants
  • Occasional non-cigarette tobacco use considered for non-smoker rates.
  • Paid up options available for NV1 product.

Interested in finding out more about using Sentinel Security’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use Sentinel Security.


American Amicable

State Availability: Available in all U.S. states including DC, Guam, and Puerto Rico
Commission Payout: Pays on issue
Application Type: Paper application with OPTIONAL* point of sale interview, or the Mobile app with an INSTANT underwriting decision after electronically submitting the app at the client’s home. (*Ages 50-70 = When the payor is other than the proposed insured, spouse, significant other or child. *Ages 71-85 = if the applicant is not found in the prescription database(s). Does not apply when the applicant is applying for the Return of Premium Plan.)
Basic Product Information:

Senior Choice Immediate Death Benefit

  • Issue Ages: 50-85
  • Minimum issue amount: $2,500 ($5,000 in Washington)
  • Maximum issue amount:  Ages 50 to 75: $35,000 – Ages 76 to 85: $20,000

Senior Choice Graded Death Benefit

  • Issue Ages: 50-85
  • Minimum issue amount: $2,500 ($5,000 in Washington)
  • Maximum issue amount: $20,000

Return Of Premium Death Benefit

  • Issue Ages: 50-85
  • Minimum issue amount: $2,500 ($5,000 in Washington)
  • Maximum issue amount: $20,000

Conditions Covered

  • 2 year look back on cancer and cardiac issues for the Graded Death Benefit.
  • 3 year look back on cancer and cardiac issues for the Immediate Death Benefit.
  • Mental health disorders (depression, PTSD, bipolar, schizophrenia) may qualify for the Immediate Death Benefit.
  • Blood thinners like coumadin, warfarin, and clopedigril underwritten on a first-fill basis, meaning Graded or Immediate Death Benefit coverage may be available depending on the length of time since the first prescription fill.

Reasons Why Agents Use American Amicable’s Final Expense Products:

  • Instant decision Mobile App for most case submissions. Eliminate frustrating paperwork and amendments!
  • Competitively-priced smoker rates.
  • One of the fastest phone interviews available compared to other final expense life insurance companies.

Interested in finding out more about using American Amicable’s final expense product line-up?

Go here to download a sample application, agent guide, prescription guide, see rates, and learn more reasons why final expense agents use American Amicable.


What Qualities To Look For When Selecting A Carrier

In reviewing this list of final expense insurance companies, it is likely a multitude of final expense insurance companies will interest you, and that you’ll find useful.

So… if your job is to avoid overwhelm, how do you thoughtfully choose a handful of companies?

Below I have laid out several major qualities I investigate in a final expense carrier before I decide to request an appointment.


Underwriting Advantages

Agents need underwriting flexibility with their final expense life insurance carriers.

As an independent agent, the reason why we have multiple final expense life insurance companies is to get our harder-to-insure clients covered.

However, no one final expense product will cover all underwriting scenarios.

This means we need to represent multiple products to cover the various underwriting conditions.

When reviewing this list of the best final expense insurance companies to sell for, ask yourself,

“Is this carrier’s underwriting liberal or strict? Can you place a good portion of your business with them?”

If the answer is yes, then seriously consider adding them to your product portfolio.

However, if the product you’re considering does not enhance your product line-up, fear not.

Consider a low-price option instead.


Premium Competitiveness

The nature of the final expense business is that our prospects are virtually all on a fixed-income.

They have little to no savings, and aren’t the best at managing their money.

And while price isn’t the end-all, be-all, selling final expense successfully means you should carry competitively-priced final expense products.

This is important. Selling competitively priced final expense coverage usually translates into more policies staying on the books.

Of course, this translates into income increases and your number of clients covered increases, too.

I train all agents to expect another agent to visit your client within 3 to 6 months post-sale.

And you can bet he’ll try to convince your client that his product is better than yours.

However, by focusing on writing competitively-priced premium policies, the new agent loses the most common edge in replacements: beating you on price.

So judge carefully how well a product is priced before deciding to pick it up.

Price isn’t everything, but it matters greatly.


Ease Of Use

As an agency owner with more than 1,000 agents recruited, I have learned the importance of selecting companies that make your life as an agent as easy as possible.

Unfortunately, many final expense carriers that do not understand this, making issuing and placing business more difficult than necessary.

Ease of use encompasses several important aspects.

I’ll cover them below.


Application Ease

Is the application easy to fill out?

Do I have access to an electronic application option?

What about access to a telephonic application option?

Many final expense companies are eliminating paper applications for electronic and telephonic applications.

This eliminates frustrating go-backs to get missed signatures and dates, increasing the number of policies issued.


Instant Decision

These days, there is no reason not to lead with final expense companies offering a point of sale decision while with your prospect.

Getting at instant decision provides peace of mind to both agent and prospect.

Just as important, knowing if the client’s not approved allows you to pivot to another carrier. This increases your chances of saving otherwise potentially-lost deals.

The most common way to get instant decisions is immediately after the submission of your application.

There are several best final expense insurance companies to sell for profiled in this article that tell you the underwriting decision within 1 to 2 minutes post-submission.

Alternatively, virtually all telephonic applications give an underwriting decision by the end of the phone call. And most carriers with paper applications allow a point of sale interview call to determine insurability.

For new agents, your carrier selection should focus on ease of use above all else.

Focusing on final expense life insurance companies with e-apps and telephonic applications with instant underwriting decisions helps you get paid faster, and keeps business on the books.


Home Office Agent Support

To a lesser extent, it is nice to have home office agent support.

The best final expense insurance companies allow for agent access to underwriting assessments and simple tools to review commission and business quality reports.

My findings are that this is varied across the board. Some final expense companies do it better than others, for sure.


Commission

What you get paid on a case DOES matter.

Why?

Because most must self-finance leads program.

Therefore, you need as much commission as possible to support your business.

Plus, starting with a lower-than-necessary commission cuts directly into your profitability.

And less profit makes final expense less lucrative than other lines of work.


What’s A Good Commission Rate?

I can only speak for agents who join my agency, but I start agents between a 100% and 125% first-year commission contract

Yes – final expense carriers WILL pay higher than 100% commission.

Renewals are in the 3% to 10% range for years 2 to 10, depending on the carrier’s renewal payout schedule.

Even better, first year and renewal commissions increase in my agency with experience, high levels of production, and/or with the decision to build your own agency.

If you find a few top final expense carriers here you like, feel free to reach out to me here to discuss commission possibilities.


How Quickly Are You Paid?

Also consider whether you are paid on issue or paid on first draft.

“Paid on issue” means you are paid a few days after the policy is issued, even if you have not collected the first premium.

While benefiting from faster pay, you also expose yourself to higher chargeback risk. A small portion of new business cancels or lapses before the first payment.

“Paid on draft” means you are paid a few days after the first draft is collected via bank draft.

Pay is slower on this method, but reduces chargeback exposure.

I recommend agents get a healthy cross-section of pay-on-issue and pay-on-draft carriers.

You should make your primary carrier a pay-on-issue carrier, with the others being paid-on-first-draft.


How Many Final Expense Carriers Should I Work For?

When I start new agents in selling final expense, I start with no more than 4 of the best final expense insurance companies to work for.

Why?

Because it is easy to make selling final expense hard.

By forcing yourself to learn 5, 7, or 10+ carriers, you’re overwhelming yourself.

If anything, you earn a marginal advantage while avoiding what REALLY counts in final expense sales: seeing the people.

The 4 best final expense carriers for agents new or experienced to final expense will have an ideal cross-section of:

  • Competitive pricing,
  • Flexible underwriting, and,
  • Product ease-of-use.

These are my primary “measuring sticks” to judge a carrier’s worth.

Experienced agents may start with more than 4, but I usually stop them at 5 carriers.

Ultimately, the new or experienced agent WILL pick up more final expense companies to sell for as clients present niche situations that additional carriers will cover.

That’s 100% fine at that point, as it is likely you’ll have a level of comfort with your carriers to expand your portfolio organically.


Summary

If you are considering adding to your product portfolio, always ensure that any additional final expense carriers will add value.

There is no reason to add final expense life insurance companies that do not increase your sales opportunities.

The best strategy is to focus as much business in a core handful of carriers.

When you do this, you get preferential treatment from agent support at many carriers, qualify more frequently for conventions, and get recognition from upper management.


Who Is David Duford?

Photo of David Duford

Now you’ve learned more about the best final expense insurance companies to sell for, I want to spend time introducing myself to you. That way you know who I am and what my background is.

My name is David Duford. I have had my life insurance license since 2011, when I entered the business out of sheer desperation.

Prior to selling insurance, I had a floundering personal training business the Great Recession had stunted.

Looking for a job, I found nobody was hiring. I desperately needed to make money to support my wife and newborn son.

So I did what any desperate person in my situation would do…

I got my life insurance license :).

Luckily, I had completed my research before jumping into selling insurance.

I realized that selling final expense was the answer to getting me out of the financial trouble I was in.

So I appointed with a final expense IMO, set up my final expense leads program with direct mail leads, and went right to work.

My first month was great!

I wrote $6,000 in premium off of 40 or so leads.

The next month I DOUBLED my production to $12,000 in premium off of 80 leads.

And all on a part-time schedule while I worked in my personal training gym.

Needless to say, I was hooked!

Six months into final expense, I closed down my personal training gym and went full-time into selling final expense.


That’s When The Problems Started…

I became WAY too confident in myself.

For example, I created my own lead piece and toyed with my already-steady lead program.

Inadvertently, I found myself in a WORSE position financially due to making these bad decisions.

Money got so tight… and I was SO tired of deadbeat leads… that I quit the business no more than 12 months in.


Quitting And Coming Back

Shortly after, I got a job at Aramark selling uniform services.

But what I discovered while working at Aramark was that the financial opportunity was significantly less than selling life insurance.

Plus I had to represent a company I thought was a rip-off! It’s hard to sell something you DON’T believe in for very long.

So… after careful deliberation… I made my mind up.

I was going BACK into selling final expense.

And this time I’d REFUSE to give up and COMMIT myself back to the fundamentals.

After a year of selling final expense part-time while working at Aramark, I handed in my resignation and went full-time back into selling burial insurance! Yay!

Fast forward to today, I operate a large national insurance IMO offering carrier contracting, support, mentorship, various lead programs, and coaching to new and experienced agents who want to become top producers.

We now help not only final expense agents, but also agents interested in selling annuities, mortgage protection, Medicare Advantage, or Medicare Supplements.

Although I have moved out of full-time field work since my focus is almost 100% on agency development, I will field train them if they’d like.

I’ve also published 3 best-selling insurance books for agents:

  • The Official Guide To Selling Final Expense Insurance
  • Interviews With Top Producing Insurance Agents, and
  • The Official Guide To Selling Insurance For New Agents.

I also publish daily video training content for insurance agents on YouTube and have over 11,000 subscribers.


Why Share My Story?

A typical day selling final expense with a real-life client.

Frankly, I want you to understand that I’m not full of shit. 🙂

Most marketing organizations who target final expense agents just want to peddle carrier contracts to as many people as possible.

They care nothing of whether or not the actual carrier is any good, or whether or not it will improve the agent’s product portfolio.

Most marketers have zero field experience. They do not understand experientially how selling final expense TRULY is.

And I think my experience of SELLING (not just recruiting) final expense makes a TREMENDOUS difference in how I think about final expense company selection.

My goal for my agents is to have a well-rounded cross-section of the best final expense insurance companies to sell for.

I want their final expense insurance companies competitively pricing, lenient underwriting, and are easy to use.


How Final Expense Works

In case you’re completely brand new to selling final expense, I am going to detail the basics of final expense from a product design and sales/marketing design perspective.

If you are an experienced agent, this will serve as a good refresher.


What Is Final Expense Insurance?

Final expense insurance is designed to provide peace of mind and certainty that no matter how old the insured becomes, they have the guarantee that they can NEVER outlive their coverage.

Final expense deals in small face amount, simplified issue whole life insurance.

It’s designed to pay final expenses like funerals, cremations, etc.

In short, this product offers quick underwriting decisions (within 15 to 20 minutes BEFORE leaving your client’s home), flexible premiums, and beneficial guarantees your client will appreciate.

Final Expense Benefits

Here are the major benefits of final expense insurance, for your client and yourself:

  • Final expense NEVER cancels due to age or health (it’s whole life insurance, paid up to age 100 or age 121).
  • Final expense NEVER can experience premium increases. What the client pays is as certain as the sunrise.
  • If eligible, the client may qualify for first-day full face amount coverage from the first payment date.
  • If the client’s health is too poor, there are guaranteed issue final expense insurance companies that ask no health questions and offer full coverage after 2 to 3 years from the policy’s effective date.
  • Since final expense is simplified issue, no exams or specimen collection is necessary. The best companies determine eligibility at the point of sale in less than 20 minutes with a Medical Information Bureau and Prescription Check.
  • Provides enough coverage at an affordable premium to cover cremations, funeral services, burials, or to leave a legacy.

Basically, final expense is a simple product heavily dependent on sales activity like prospecting and running presentations.

Added, final expense sales is NOT highly technical like selling annuities.

And that’s good news for us that want to “just sell.”


Marketing And Selling

In essence, marketing and selling final expense is a simple, rinse and repeat process that’s simple to learn and easy to scale.

In fact, I’ve taken multiple agents new to the business and within 2 years have them earning six-figures plus.

My very best agent who followed all of my teachings wrote more than $500,000 in final expense business in his first full year. He banked around $350,000 of that before taxes and after lead expenses.

Here’s my point…

Whether you want to:

  • Start off selling final expense part-time like me,
  • Go all in full-time, or,
  • Get super-focused and do a crazy amount of activity like my best agent described above…

The good news is that final expense sales and marketing systems work, however you enter the business.


Leads are HUGE

Selling burial insurance is a highly lead-dependent business model.

Most agents purchase some type of lead like direct mail, Facebook/Internet leads, or telemarketing leads on a weekly recurring basis.

They scale their lead purchase accordingly with their budget and schedule.

Then, agents take those leads and prospect them the old fashioned way; either by calling to set an appointment, or showing up unannounced with the lead in hand, asking for an immediate appointment.

Either way, each strategy works incredibly well.


One-Call Close

One thing that makes final expense sales presentations great is that it can easily be sold on the first sales call.

Unlike other insurance products that require multiple presentations, final expense is simple enough to understand that only 1 presentation is required to ask for the sale.

In my agency, I teach agents to sell final expense in a sequential fashion:

  1. Rapport/Intro: The agent must build rapport, properly introduce himself so the prospect knows who he is and why he’s there, and begin reinforcing trust.

  2. Pre-Qualify: The agent must effectively pre-qualify and fact-find with the lead to determine if he’s a qualified prospect… or an unqualified suspect (if he is, the agent must end the call immediately and go to the next appointment).

  3. Present: The agent presents the final expense product in a way to establishes its superiority over the competition without using pressure or assumptions.

    The presentation strategy I teach is educational in nature, yet subtly persuasive in positioning our product as the superior choice.

  4. Close: The agent presents several face amounts, makes a recommendation, and asks for the sale.

    If necessary, he rebuttals any final objections and continues asking for the sale.

    Once closed, the agent writes the application up, gets the prospect approved, cools down the sale, and goes on to the next one.

As mentioned earlier, this process is a rinse and repeat sales strategy that can be scaled to 5 presentations or 50 presentations weekly.

In short, this is the fundamentals to selling final expense.

At the end of the day, it’s all about “seeing the people.”

Also important: having access to a good cross-selection of the best final expense insurance companies to sell for.

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