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Final Expense Talking Points

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 Discounted 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.

Final Expense Talking Points

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