Are you making final expense a part of every client presentation? If so, great. If not, consider this: In a 2005 survey by the National Funeral Directors Association, 90 percent of respondents said they thought funeral pre-funding is a good idea. In addition, 71 percent said they want to do this planning with a trusted financial advisor.

Final expense is a product whose time has come. Why? Because it completes a person’s financial picture. Yet according to an AARP survey, 60 percent of respondents said they’d never even been contacted about pre-funding their funeral.

Unlike real estate, stocks, savings plans or traditional life insurance, final expense is a perfect addition for your senior clients because it does only one thing. It provides funds for a person’s final or funeral expenses.

From a producer’s standpoint, final expense offers many opportunities:

  • Allows you to re-connect with your clients
  • Provides the final piece of your client’s financial picture
  • Offers a commission income
  • Keeps agents from other companies away from your customer

From your client’s standpoint, final expense — when combined with a funeral trust — offers:

  • Comfort in knowing the money will be there for funeral costs
  • Funeral costs won’t be a financial burden to survivors
  • Proceeds from other assets such as life insurance won’t need to be used to pay for a funeral
  • Funds for funeral expenses aren’t delayed by probate

Bottom line? It’s a sale waiting to happen. For more information, feel free to contact me at ekwolf@nglic.com.

Eric Wolf is senior marketing specialist for final expense for National Guardian Life Insurance Company .