First and foremost, if your appointment is for Medicare Advantage Prescription Drug Plans (MAPD) or stand-alone Prescription Drug Plans (PDP) then you are not allowed to discuss final expense with your client during that initial appointment. It is imperative that you make a separate appointment with that client to discuss final expense. This is due to CMS rules and regulations specifically for MAPD and PDP clients. For Medicare supplement appointments, however, you are free to discuss final expense life insurance without having to make a separate appointment.

It is important to market other appropriate products to your clients, when following rules and regulations, to help increase persistency. Typically, the more products you have with a client, the less likely they will be to buy from a competitor. Final expense is a great option as it has both simplified issue and guaranteed issue underwriting options and can be a quick and painless process. Some final expense companies will even give your client an instant decision based on how they answered questions on the application.

As an example, you enroll your client into a $0 premium MAPD plan which saves them $75 per month. You could utilize those savings to offer that same client a final expense plan that they can pay the premium for with the money that you saved them. This is a win-win situation for the agent and the client. The agent gets an extra sale by layering in the final expense, while the client gets some added protection in the event they die. Many agents miss the boat on these opportunities due to a few reasons:

1. They didn’t know that they could offer final expense.
2. They never had the discussion with their client(s) about the exposure of burial costs
3. They didn’t prepare ahead of time.

Pinnacle Financial Services is your one-stop-shop for all your senior insurance needs. We have all of the top carriers and contracts in the industry to ensure you are providing the client with the best plans available. We have dedicated sales, training, and support to help facilitate any business you need to write. Don’t hesitate to reach out today!