Independent Marketers Post Higher Final Expense Life Sales

Final expense life insurance helps the purchasers and their families pay for funerals, burials, cremations, and other expenses associated with death.

A copy of the full 2017 final expense study is available here.

In addition to conducting a survey of carriers that distribute final expense products through IMOs, the study team organized a survey of U.S. residents ages 50 through 85.

The study team found that:

• About 89% of IMO final expense life sales came from simplified-issue products, and about 11% of IMO final expense life sales came from guaranteed-issue products.
• IMO sales of fully underwritten final expense products amounted to a rounding error.
• The average age of the purchasers of the simplified-issue and guaranteed-issue policies was 63.
• 47% of the consumers said they would prefer to buy final expense coverage from an agent or advisor.

— Read 8 Numbers to Know for Final Expense Insurance Sales Success, on ThinkAdvisor.

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