How To Run A Final Expense Appointment

Hey, what's going on, guys? It's Tim and Julian here from Advanced Agent Marketing. Today we're going to be going over a final expense presentation and what it looks like to talk with a prospect in home. And today Tim's going to be playing a final expense client known as Roy. So right here is my final expense book. This is what I train agents downline of me. This is what I use in a home. This is just my computer here that I would use to fill out an application, record the health questions, stuff like that. So without any further ado, we're going to jump straight into it and you can also click the link down below to get this final expense presentation for free. This is the final expense presentation that me, my agents, and Tim here uses whenever we're working with a client in a house.

Jolene, who are you talking to, man?

You know, it's a great question you're asking there, Roy, but that was actually just my imaginary friend. So his name is Billy. But the first thing I'm going to kind of do is just kind of let you know how I do business. All right, Roy, is that fair enough? All righty. So the one thing I like to tell everybody that I meet with is I'm actually going to just more or less kind of treat this as a conversation, not as a presentation. Because I'm sure just as the same way I do, we would rather have a personal connection versus a little lecture here. Is that fair enough to assume?

Go for it.

All righty. And the majority of the way that I do my business is based off of referral.

So.

So that means that I work with, you know, typically friends and family. You and I kind of had a particular situation ourself. But if, you know, you feel like you get value out of this conversation, I'm going to go ahead and ask you at the very end of this for two or more referrals.

All right, we'll see how you do.

A couple referrals.

We'll see how you do.

All right, fair enough. So I'm just going to jump straight into it now, Roy, this right here is. This is my insurance license. And I'm licensed by the state of North Carolina to talk to you and other seniors about this kind of thing. So this right here is issued by Mike Causey, the commissioner of insurance. And as you can see, I'm licensed in life insurance, accident health and sickness and med supp. And long term care. So that means that we can have a conversation about all that. But today we're talking about Life insurance. All right, now, one thing that I make sure that everybody knows is that if someone comes into your home and is unwilling to show you this or can't show you this, we're actually required to produce these at any time that we have an appointment with someone. So you need to show them the door and make sure that it hits them on the way out, because those people are more than likely scammers or they don't have your best interests at heart.

Julian. I'll show them Smith and I'll show them Wesson.

That's Hayden, man. That's the way to do it. So right here, this is. This right here is just kind of talking about doing business with people you trust. And I feel like we can probably both agree that just makes sense, right? See here, this is. This is kind of the insurance licensing process that I had to go through. I requires a federal and state background check from those bureaus of investigation. I got to get fingerprinted. I went to the sheriff's office. And right here you can see, see that I only do business with companies that are rated A plus, with a Better Business Bureau. And I'm an independent broker, which we're going to talk a little bit more about in a moment so that you know how that kind of works right here. One of the biggest questions that I ever get from anybody that I talk to is who do you work with? You know, what companies do you represent? This is a small list of some of the companies that I work with. I'm a contractor and independent broker. So that means that I work with everybody. I don't have any dog in the fight. My only goal is to make sure that you get the best program possible for you. Because if I don't do, Beth, the best thing by you and someone else can do better, it would be foolish of you to stick with me versus going with somebody else, wouldn't you agree?

Sounds to make sense.

Absolutely. And so I'm sure you've probably heard of some of these. Have you ever heard of Mutual of Omaha or aig? You probably got something in the mail from one of these guys before, right? Oh, yeah, yeah, we've seen cvs. That's. That's who Aetna is.

Yeah, they fill my blood pressure medication.

Oh, nice. Nice. Cool deal. We'll circle back around to that in a little bit here. But has anybody ever talked to you about the difference between an agent and a broker?

What kind of agent are you talking about?

Like an insurance agent?

No.

Gotcha, gotcha. So the difference between an agent and a broker is an agent works with one company. And I wrote down some bullets here for you. So they kind of have a one size fits all mentality because they work with the one company, they kind of have to more or less offer you what it is that their company has. Right. So they, they can't go out and shop the market for you and do things like that. And nobody can blame them. They've still got to put food on the table, and that's just the job that they ended up with. But, you know, whenever you're talking with an agent, they're always going to offer you the best option that their company can offer, not the best option that's available. Does that make sense?

It does, it does. My cousin used to be a bail bondsman and it's kind of similar. You know, you can't blame him for what he does, but it's just how he puts food on the table.

Exactly, exactly. And so you can see agents here have higher, typically higher price products and they usually are a little more strict on the health requirements because again, they're limited in what they can do.

Okay.

Now that's why I decided to be a broker myself. I get to work with all the insurance companies and I get to offer solutions for every situation. You know, it doesn't really matter where you're at with your health. It doesn't really matter where you're at with your wealth. I've got a, I've got a solution for everybody. And so what I'll do is I'll shop insurance companies nationally to ensure that you have the best plan possible. Like I said, if I don't put you in the best program, it wouldn't make sense for you to stick with me if somebody else comes down the road pedaling something better. Wouldn't you agree?

Seems to make sense.

Absolutely. Now, as you can see here, one thing that I'm doing with this prospect is I'm constantly asking for his agreement. Right. I've already built trust by showing him the license. I've already gone over which companies I work with by leveraging the brand that they have in the marketplace from all of their paid advertising, through direct mail, through the TV and word of mouth they've already generated and created in the marketplace. Not only am I using the concept of a trial close to ask Roy here for his agreement so that he can feel more comfortable agreeing to me and agreeing with me when I make a move to offer him an insurance policy, but I also want to make sure that he understands what I'm saying, because confused people never buy. And so.

Julian, you're freaking me out. Dude, who are you talking to, bro?

Man, I'm telling you, my. My childhood friend just always keeps popping up and it's like, have you ever seen Harry Potter? What? Is that it? Well, basically they have this little ghost that hangs around the bathroom called Moaning Myrtle, and she does like a bunch of singing and randomness. So I kind of have a friend like that, but his name's Billy and he plays soccer.

I'm going to stop you right there. You sound like you need a Bud Light.

Buddy, I do need a Bud Light. And so the difference between a broker and an agent, the biggest difference is that I'm able to insure people with different health conditions. And this is what. This is really important because there are so many people out there, you know, like me, like yourself. One size fits all doesn't really work when it comes down to what kind of medications you're taking, what kind of life experience you have, what kind of program you need. Wouldn't you agree?

Yeah. I'm glad that you work with people with different health conditions, because I do have a bum knee.

Okay, Exactly. See, not everybody has a bum knee. And now I'm curious. Roy, has anybody ever talked to you about the difference between term and whole life?

Like what?

What do you mean?

Like insurance, Terminal life insurance. No, they haven't. No problem. This is why I have a job, believe it or not. So.

Wish I had a job.

Well, hey, man, you're in the retirement space. I'm jealous. I wish I had your. Your situation, but here, you. I wrote down a little chart for you which is the difference between term and whole life insurance. Now, term is just like milk, eggs and cheese, right? It's got an expiration date. And now with term insurance, because it expires, once it goes away, you just kind of got to throw it out. Unless you want to hang on to a couple loose pieces of paper because there's not really too much it can do for you. Now, the premiums have the ability to increase. The benefits have the ability to decrease. There's no cash value. And one, only 1% of these ever pay out. And you know that's. That's across the nation, right?

Well, Julian, that just sounds like a scam right there.

I wouldn't say it's a scam. They definitely have their place. But when you're looking at something like a final expense program to cover your burial, you definitely want to have something that's going to stick around. And that's why the insurance companies came up with whole life insurance. The monthly premiums never change and never go up, they never go down. Your benefits never go up, they never go down. It builds cash value. So if you ever got into a pinch, you could borrow against it. Now, I never recommend doing that just because it, you know, it's a little bit of a headache sometimes. But what I tell everybody is it's better to have options than to not. Wouldn't you agree?

I like options.

So do I. And so that's why I became a broker, believe it or not. So right here you can see that the policy can never expire as long as the premiums are paid. Now, most policies even have what's called living benefits. Some companies will offer you a free will, some companies will offer you, you know, discounts on dental programs with hold up, local dentists.

You're telling me that death insurance can give you benefits when you're living?

Yep. That's why they call it life insurance. Now, right here. One thing I wrote down for everybody is that this is a permanent solution. Now, while term life insurance makes a lot of sense for people who are typically younger, there's a reason that it only pays out 1% of the time. And it's because they, the insurance company knows the statistics and the odds that are always in their favor because they know what percentage of young people are going to pass away. Right? And so the way that I always like to explain it to people is if I had two options, option number one is to throw my money in a savings account, right? And make sure that I'm going to be able to hang on to it and keep it to pay for this thing, leave this kind of money behind to my family. Or I had a second option where I could take that same cash, go to Vegas and gamble with it in hopes of getting more. With a 1% chance of winning, which one do you think will make more sense to do?

Well.

While I do love Las Vegas, I probably have to do the permanent solution in this, this situation.

I would totally agree with you. So I think we can both agree that whole life probably makes a little bit more sense for you, right?

Whatever you say, Julian.

And so as you can see, so far as I've been talking with Roy, I'm showing the contrast in between term and whole life, which is building value within the conversation. Because in this specific situation, in this specific scenario, Roy doesn't know anything about the difference between term and whole life. I'm making comparisons to things that are in everyday Life like milk, eggs and cheese that do have an expiration date. I'm also letting him know that term life insurance is not a scam and definitely is not a problem because it does have a place in the marketplace.

Julian, you're really freaking me out, dude. You're making me want to smoke right now, man.

I'd share a smoke with you if I could, but, you know, they don't let me do that on the job. So right here is. This is, you know, whenever we're talking about burial insurance and looking at getting something for you and something set in place, the purpose is to protect your family. And so when. When I ended up getting life insurance on myself, these are the people that I wanted to protect right now. This is my mom and her husband. That's my dad, my little sis, or my half sister, my two little sisters, and these are my friends. Now, the money is actually going to the little spotted friend right there, the Dalmatian. And that's my mom's puppy right there, too. But she's the one who's actually going to get all my money, you know, because I want to make sure that she's taken care of out of everybody else. But these are the people and friends and family and everybody that I'd want to protect. But who would you want to protect if something were to happen?

Come here, buddy. Well, Julian, it probably have to be this little guy right here.

Hey, little buddy.

Come on, buddy.

Oh, man, he's cute. What's his name?

Roy junior.

That's the best way to do it, man. So right here, this is what we typically see whenever we talk with somebody. Most of the clients that we talk to fall into at least one of these categories. Number one, they're paying way too much for way too little. Two, they have the wrong kind of insurance. Three, they have no coverage. The last one, one of the most common ones, is they're underinsured. Out of these four options, which one do you think that you fit into?

Probably all four, to be honest with you, man.

All four of them. Really?

Wow.

So you have no coverage and you're paying too much for too little.

Well, I'll explain it to you. I'll break it down for you.

Really.

Number one, inflation's freaking crazy, and I'm paying way too much for way too little. Number two, I have the wrong kind of insurance because I don't have any. Three, I have no coverage, so I have no coverage. And four, I'm underinsured because I have no coverage.

This. That makes a ton of Sense. Now that you put it that way. Now, for all of you that are watching this currently, and you're wondering why I'm pulling a pen out, but I'm not writing anything down. One thing that people are classically conditioned to do is to respect someone who presents themselves as an authoritative figure. Think of professors, teachers, parents. Oftentimes even in tv, you use some form of object, right? Like a pen or some form of wooden stick or something to point out things on a note board, on a whiteboard, on a chalkboard, whatever it is. Because the generation before us was conditioned even more to appreciate and listen to professors in college and things like that. Oftentimes, whenever you're talking with someone, if you start to present yourself as an authoritative figure and assume the role of a consultant or a teacher versus a salesperson, not only will they respect you more, not only will they offer you less objections, but they will also listen to what you have to say and offer you information that you need to move the sale down the line.

You know, Julian, I kind of respected you before you started talking to yourself for like the 15th time every 60 seconds.

Billy was hungry, man. I told him we're getting lunch after this. But. All right, so what we're gonna do now, Roy, is we're gonna jump into a little. A little quick survey here. And this is gonna. I'm asking you some health questions to see what you qualify for based off what you told me. And I know that you don't have any insurance, so we're gonna see if we can't find something that fits into your budget so we can go ahead and get you squared away today. Sound fair enough?

Sounds good. Alrighty.

Cool deal, man.

And so, as you can see in this presentation here, it's a very simple, simple way. Even if you have lack sales experience, you feel uncomfortable doing business face to face, or you're really not sure which direction to take the conversation in. You have a prompt with a script and an entire notebook full of information that you're going to offer to the prospect so that they see the value of your product, they see the value of your profession, they look at you as a professional and are engaging in conversation with you. This is why you always want to ask them questions after you present something with them. Because you always need to make sure that they are engaged and hanging on to your every last word. I will never offer a presentation without asking them if they understand if it makes sense, what, or if they have any questions regarding something that I just presented with them with. And I'm not going to move on to the next page until I get that affirmation. If Roy here were to tell me that he did not understand the difference between term and whole life, I am not going to continue the presentation until we have completely stomped that problem out of existence. Where I would have further qualified him by saying, what do you not? What is it that you were confused about? And whenever he presents me with the issue, I will then figure out how to dismantle it by offering him different comparisons through simile and other things like that.

Julian, are you going to give me insurance or are you just going to keep talking to my freaking wall, dude?

Well, I think the wall and I have had enough conversation for today.

I mean, I literally have my checkbook in my pocket right now. I'm ready to go. I need to grab a lighter though, because you're freaking me out, dude.

Thanks for watching. We really love having you guys here for the whole thing. And you know, go ahead and click the link down below to get this free presentation. You just have to put your email and your name in and we'll send it straight to you. It's right below the video here. And if you feel like you got value out of this video, leave us a like, leave us a comment, subscribe, turn on notifications and we'll keep making content like this for you and we'll see you in the next one.