Benjamin Franklin once said the only certainties in life are death and taxes. As death is one of life’s two absolutes, it makes sense to prepare for the inevitable expense of a funeral. Too often, we are unprepared and leave our families to deal with high-pressure sales and overwhelming decisions when they are least capable of handling them — while they are grieving the death of a loved one.

According to the April 2002 issue of Senior Market Advisor, conservative funeral cost estimates range from $8,000 to $10,000. Funeral arrangements made at the time of death can be up to $30,000 or even higher. The casket alone typically ranges form $600 to $9,000. This is why planning ahead with the purchase of Final Expense coverage makes sense — it can be done outside a time of bereavement.

United American’s Final Expense protection can protect your clients and their families from these costs. Fortunately, UA’s Final Expense plans can tailored to fit almost any family’s budget. If the family is only able to afford $25 per month in premium, our face amounts can be adjusted to fit that budget. Cost should hardly ever be an objection.

Another advantage of UA’s Final Expense plans is they provide a cash lump sum to the family when a death claim is filed. Great Agents most likely go through the Memorial Guide with the prospects at the time of purchase, so, not only are the policyholder’s wishes clearly defined, but also the family is prepared to pay for these expenses. Unlike other types of insurance, Final Expense protection is less of a “what if” and more of a “when.”

You may have heard of “Pre-Need” insurance. When customers purchase a Pre-Need policies, they choose the products and services they desire, and an Agent or Funeral Director (often one in the same) writes the policy. Pre-Need policies cover specifics such as a casket, cremation, burial vault, grave markers, flowers, transportation, etc. The problem with Pre-Need plans is the customer is locked into these choices — there is little flexibility for change. Also, what happens if a person moves to another state, remarries, or is otherwise unable to use the pre-determined services through a pre-need plan? Canceling these policies can be troublesome. Often, the client may be refunded for products and services, but be stuck with a plot that they can’t use.

In fact, opposition to Pre-Need policies is strong. In most cases, a policy must be purchased in one lump-sum payment. A consumer protection attorney for the AARP was quoted as saying, “We don’t recommend pre-paying. It means people are tying their money up, even though they’re living longer and longer, and may a need for that large chunk of money for emergencies while they’re living.” 

The State of New Jersey was so concerned about potential abuses of Pre-Need policies it adopted the Pre-Need Act, which provides comprehensive consumer rights protection for people pre-paying for funeral expenses.

Clearly, the flexibility and affordability of a UA Final Expense policy is the preferred option to customers preparing for final expenses. Our adjustable premiums and lump-sum benefit alleviate the concerns of Pre-Need policies. Funeral and memorial expenses are costs in which every individual must be concerned. Proper planning and a UA Final Expense policy are the best way to prepare families for these costs. While we can not ease their loss, we can certainly lessen the financial stress. Final expense is just one more leg of the financial table that all UA agents should present as options in sales contacts, just as we do with health insurance, LTC and annuities. Why leave anyone exposed to a true need that should be covered, when all it takes is remembering to use the Memorial Guide while you are there? If you don’t, then another agent will do it. Worst of all, while the competing agent is there, he will attempt to take the rest of your business too. Be all that you can be for that customer and remove the reasons customers see other agents. As you can easily see, by adding this leg to the protection table, you will always increase earnings, persistency, in force, and much longer-term renewals. Isn’t that how we maximize our futures – by helping customers?

Using a simple Memorial Guide in the Final Expense sale is just as important as the Needs Assessment form in a Heath sale. As an analogy, how much confidence would you have in a doctor if he prescribed treatments prior to an examination? Similarly, we should investigate the customer’s needs and desires first, and then help them address these needs with the most comprehensive coverage possible, based on their financial situation. Using your Memorial Guide is a value-added service for all customers. As you do, you’ll be surprised how your responsible ideas turn into a sale of another valuable protection from you and UA. Just bring out the Memorial Guide often, as a permanent addition to all presentations – it’s really that easy. Certainly, they can’t choose when no choice is given – why wouldn’t we allow this?

That’s what we do here at UA — we’re here when our families need us most – and that responsibility includes a suitable life coverage offer on each visit. Our objective should be a plan in the hands of every American, leaving no one exposed.