How to Get Started Selling Final Expense Insurance


Every year in the United States, about nine in every 1,000 people lose their lives.

While death is an incredibly painful time for the deceased’s loved ones, the death care industry does present a number of business and career opportunities. And as more people, especially the elderly, start to embrace planning about death, one product is standing out: final expense insurance.

Are you interested in selling final expense insurance?

If yes, you’ve made a smart career decision. As the number of aging baby boomers increases, the demand for final expense insurance will only get stronger, consequently increasing the demand for last expense insurance.

In this article, we’re fleshing out how to get started as a final expense insurance agent. But first, let’s answer a common question.

What Is Final Expense Insurance?

The average cost of a funeral in 2021 is $7,640. Grieving families have to bear this cost, which can increase the burden at a challenging time.

Final expense insurance takes care of funeral expenses. Depending on the policy’s terms of coverage, any medical and legal fees can also be covered.

Final expense insurance has traditionally been sold as part of a life insurance plan, but now it’s increasingly being sold separately, as the policyholders don’t need much coverage. Upon the death of the policyholder, their final expense insurance benefits are paid out to the beneficiaries.

Now that you understand what final expense insurance is, let’s focus on how to get started selling it.

Earn a Life Insurance License

The first step to becoming a final expense insurance agent is to earn a life insurance license.

Licensing guidelines vary from state to state, but in general, you have to successfully complete a pre-licensing course and take a licensing exam.

To qualify to sit this examination, you need to have reached the adult age in your state, be a high school diploma holder, and pass a background check.

As a licensed life insurance agent, you’re qualified to start selling final expense insurance, but this doesn’t necessarily mean you should start right away.

Get Additional Training in Final Expense Insurance

In your pre-licensing education, you’ll learn about final expense insurance. However, this isn’t adequate training for someone who wants to sell final expense insurance only. Employers are usually looking for agents with more specialized training.

As such, it’s advisable to take a short final expense insurance course before you start looking for employment.

Find a Job Before Going Solo

The final expense market is thriving, and agents are earning an average of $106,428 a year. However, this isn’t the starting wage. Agents who hit this amount usually don’t work for anyone. They’re independent agents.

You might want to start out as an independent agent (which means starting your own insurance agency), but don’t do it. It’s advisable to start by finding employment in a life insurance agency to learn the ropes and gain industry experience.

Once you have enough capital and experience, you can then start your own agency.

Get Started Selling Final Expense Insurance

Selling final expense insurance can be richly rewarding. You have the potential to pull in a six-figure income a year and you get the opportunity to work with seniors and help them get the right coverage. Use this guide to prepare yourself for this job.

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