Final expense talking points

Reasons Seniors Buy Senior Products

• NEED – They feel a need for protection
• WANT – They want to transfer the risk from themselves to an insurance company

Your key to success: Establish the need and determine an affordable way to pay for coverage

Main reasons for purchase

Control and Independence
asset protection
Access to quality care
Burden
peace of mind
aversion to well-being

Senior Marketing

Keep in mind that there is no typical older adult, however there are commonalities.

It is helpful to understand similarities and respect differences when working with older people.

Emotion – Message Driven
Older people tend to focus on how a situation makes them feel.
Your answers are based on your total life experiences.

To effectively market to seniors:
– Understand their perspective.
– Account for aging changes
– Add emotional value, if necessary

Other Factors Affecting Marketing
– Finance, employment
– Social structure
– Health changes

Seniors’ main concerns tend to be surviving their assets, maintaining their independence, their own health and safety issues, and for those over 75, the issues tend to gravitate towards family and friends, leaving a legacy and 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, do not talk about the product

Introducing Final Expense Life Insurance Talking Points

There are financial risks when a loved one dies

There are two financial dangers for the elderly……….

1. Final Expenditure Gap
2. Low income

Where will you get money for final expenses?
• Borrowing
• Money
• Family
• Final Expense Insurance

Doesn’t it make sense to use discount dollars?

An estimate of final expenses today is between $6,000 and $15,000

Pre-funeral expenses

• Ambulance
• Paramedic fees
• Hospital emergency room charges
• Physician fees
• And other expenses

Responsibility for Final Expenses

funeral home expenses

• Charges for professional services…………..$500 – $1,200
• Deceased Transfer …………………………..$175 – $300
• Viewing facilities (2 days) ……………….$350 – $900
• Other Preparations……………………………..$100 – $300
• Hearse……………………………………….. … ….. …$150 – $365
• Coffin………………………………………. .. ………$1,900 – $5,000

Office expenses

• Cemetery Plot…………………………………………… .$800 – $2,000
• Headstone/Engraving……………………………..$350 – $1,500
• Opening/Closing Grave …………………………..$250 – $1,500
• Embalming ………………………………………… ..$200 – $700

After funeral expenses

• Successions and miscellaneous inheritances
• Bills
• Unpaid debts
• Etc

Reduced income due to a death

The problem: Reduced income can be financially devastating for a surviving spouse, often leaving them dependent on other family members or government programs for help.

The Need: Supplemental income to replace lost income.
The solution: a plan that will provide a source of income for the surviving spouse to maintain a normal lifestyle.

What are your options?

• Trust family and friends
• Spend personal assets and savings
• Borrowing
• Transfer the risk to a Final Expense Program

Final expense schedule

An affordable solution that provides security and helps ensure you won’t be a burden to your loved ones

• Benefits do not decrease
• Premiums do not increase
• The policy cannot be canceled due to your age or health
• Protection from the first day of validity of your policy
• No medical exam
• Benefits are paid tax-free
• Simple application process

A Final Expense Schedule can be left to:

• Your spouse
• Your children
• Your church
• Your favorite charity

Can be used for:

• Pay your final expenses
• Provide income to a surviving spouse
• Leave behind for special needs

There are many decisions loved ones must make immediately after a loss, but put together a final expense schedule with a licensed professional so your loved ones don’t have to worry about the financial pitfalls that accompany these important decisions.

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