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How a final expense agent can break back into annuity sales

Brian Anderson

A full-time final expense agent who hasn’t done any annuity business for a decade – even though it used to be a primary focus – wants to get back into annuities.

In a new thread on the Forum, the agent is looking for a little help shaking off the rust and some insight from the community about how to bring up a discussion with a typical FE lead.

While the “typical” final expense lead may not have enough saved to warrant considering an annuity, it isn’t always the case.

One response to the thread mentioned how he sold a FE policy that day to a person who also has an IRA with $29,000.

“All he knew was the bank ‘invests’ it and it doesn’t make much and he gets a notice every year that he has 10 days to move it on June 1st,” the response said. He asked the client to make a call and confirmed his suspicion that it’s in a CD and earning less than half a percent.

“It will cost him $45 penalty to move it now. I told him he gets $114 per year where it is. Or he can move it to a fixed annuity and get $797 per year,” the reponse continued. “That’s how FE leads can turn into annuity cases. I’ve had as much as $600,000 off a regular FE lead.”

The thread continues with some great ideas about how to broach the subject with FE leads with some good fact-finding questions. Have some questions or good ideas of your own to share on this topic? Join the conversation on this thread here.



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