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Why the next 10 years of Final Expense will smash the last 10

Over the last 10 years, final expense insurance has exploded in the insurance marketplace a whole. Many agents flock to IMO’s offing this specific product due to the easy, simple underwriting and quick payout on commissions. With all of the improvements that have been going on, it easy to see why so many agents want to get in on it. In this next decade, there will be even more reason to sell this already great product.

The first big improvement will be the ability to take monthly premiums using a debit or pre-paid card. For the longest time, almost all of the insurance companies would only take a monthly premium payment directly from a checking or savings account. This meant that banking information was required with ever application submitted. Soon, more and more companies will be allowing people to pay with a pre-paid card. Allowing agents access to more clients and more sales.

More and more competitive companies will be coming out with new products. It seems like every year, an insurance company will roll out with a new final expense product that offers slightly better premiums than its competitor. A good insurance broker will always be able to stay current and up to date with these new products. Also, these new companies will usually offer different underwriting guidelines. An agent may have met with someone who was previously declined for insurance, but then a new company will have a new product that will now approve that same client.
Now that final expense has emerged as a main stream form of life insurance. More and more clients will be searching for information on these products. 10 years ago many people didn’t even know what a final expense product was. Now since more people are already aware of the products, clients will now be actively searching out agents instead of the agent searching for clients. Business may be literally falling in your lap.

These are just a few small examples on what to expect over the next 10 years in the final expense marketplace. I’m sure that this list could easily go on for pages and pages if I went through all of the reason why the next 10 years will smash the previous 10.

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