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Final Expense Talking Points
By Lloyd Lofton
Reasons Seniors Buy Senior Products
• NEED - They feel a need for protection
• WANT - They want to transfer risk from themselves to
an insurance company
Your Key to Success: Establish the need and determine an
affordable way to pay for the coverage
Primary Buying Motives
Control and Independence
Asset Protection
Access to Quality Care
Burden
Peace of Mind
Aversion to Welfare
Marketing to Seniors
Keep in mind there is not a typical senior however there
are commonalities.
It is helpful to understand the similarities and to
respect the differences when working with seniors.
Emotion - Driven Message
Seniors tend to focus on how a situation makes them
feel.
Their responses are based on their total life
experiences.
To effectively market to seniors:
- Understand their perspective
- Account for aging changes
- Add emotional value, if needed
Other factors affecting marketing
- Finances, employment
- Social Structure
- Health Changes
Seniors top concerns tend to be outliving their assets,
maintaining their independence, their own health and
safety issues and for seniors over age 75 the issues
tend to gravitate to family and friends, leaving a
legacy and their reputation.
So...
- Listen
- Ask questions
- Be honest and ethical, they prefer the truth even if
the news is not good
- Tell a story about the "use" of the product, don't
talk product
Final Expense Life Insurance Presentation Talking Points
There are Financial Hazards When the Death of a Loved
One Occurs
There are two financial hazards for seniors..........
1. Final Expense Gap
2. Reduced Income
Where will you get money for Final Expense?
• Borrow
• Cash
• Family
• Insurance For Final Expense
Doesn't it make sense to use Standarded Dollars?
An Estimate of Final Expenses Today is between $6,000 -
$15,000
Pre-Funeral Home Expenses
• Ambulance
• Paramedical Fees
• Hospital Emergency Room Charges
• Physicians' Fees
• And other expenses
Responsibility of Final Expenses
Funeral Home Expense
• Professional Service Charges...............$500 -
$1,200
• Transfer of Deceased..............................$175
- $300
• Viewing Facilities (2 Days).....................$350 -
$900
• Other
Preparations..................................$100 -
$300
•
Hearse........................................................$150
- $365
•
Casket.........................................................$1,900
- $5,000
Burial Expenses
• Cemetery
Plot...........................................$800 -
$2,000
• Headstone/Engraving.............................$350 -
$1,500
• Opening/Closing Grave...........................$250 -
$1,500
•
Embalming................................................
$200 - $700
After Funeral Expenses
• Probate & Miscellaneous Estate
• Expenses
• Unpaid Debts
• Etc
Reduced Income Due to a Death
The Problem: Reduced income can be financially
devastating to a surviving spouse, often leaving them
dependent upon other family members or government
programs for help.
The Need: Supplemental income to replace lost earnings.
The Solution: A plan that will provide a source of
income to the surviving spouse to sustain a normal
lifestyle.
What Are Your Choices?
• Rely on family and friends
• Spend down personal assets and savings
• Borrow
• Transfer the risk to a Final Expense Program
Final Expense Program
An affordable solution providing security and helps
assure you won't be a burden to your loved ones
• Benefits do not decrease
• Premiums do not increase
• Policy cannot be canceled because of your age or
health
• Protection from the very first day your policy takes
effect
• No Medical Exam
• Benefits are paid Tax Free
• Simple Application Process
A Final Expense Program can be left to:
• Your spouse
• Your children
• Your church
• Your favorite charity
It Can Be Used To:
• Pay your final expenses
• Provide income to a surviving spouse
• Leave behind for special needs
There are many decisions loved ones must make
immediately following a loss but putting together a
final expense program with a licensed professional so
your loved ones won't have to worry about financial
pitfalls that accompany these important decisions. |
