Is Selling Final Expense Still Worth It In 2024?

What is going on? Ladies and gentlemen, in this video, I'm going to be answering the question, is it still worth it to sell final expense life insurance in 2024? I had somebody ask me this the other day. They said, you know, Tim, with the saturation of the industry and, you know, carriers dropping out of the business and the lead band like, is this still a good industry to be in? Is it even worth it to. To be selling life insurance? And so what I want to do in this video, if I can prop my phone up there, is answer that question for you guys and basically just kind of like provide you guys the best path moving forward in my personal opinion. Right. So if you haven't met yet, my name is Tim Shooker. I run the life insurance sales channel where we post free content to help insurance agents like yourself make six figures selling final expense life insurance over the phone. I'm also building an agency, trying to build it to $100 million. And we have a coaching company like marketing program kind of thing where we help insurance agents learn how to generate their own leads. So that's who I am, that's my background. So to answer this question, is it still worth it to sell final expense in 2024? Well, basically the reason people are asking this is fundamentally because they are not seeing success, right? Or they're, they're concerned about, you know, some things that are coming down the pipeline in the industry. But let me just show you guys, there's three key stats that I think everyone needs to be paying attention to whenever you're asking this question, right? And the first one is this. Over 12,000Americans will turn 65 every single day in 2024. Right. So what does that mean? Well, that means that there's literally never been more people. There's never been more seniors in our market. Right. The baby boomer population is, you know, aging up, right? And they are getting to a point where they're buying this life insurance, right? And this opportunity, this like boom of seniors, it was the baby boom and now they're the senior, and now it's the senior boom. These people are turning and getting into retirement and retiring and turning 65. Like the opportunity of the market has never been bigger. There's so many people that need this insurance and they're all aging into retirement and, and they all are losing their insurance from work. And a lot of them, as you'll see with this next stat, don't have enough saved up. Right. Nearly seven in ten Americans have less than $1,000 in savings. Right? Meaning that if something happens to them, their family is not going to have money to pay for a burial.

So there's never been more people that have needed this product, and there's never been more people like that don't have this much in savings. Right. Seven in 10Americans have less than $1,000 in savings. And a lot of these Americans are transitioning to retirement and getting closer to a point where if they pass away, you know, their family is not going to be able to pay for the burial. Especially when their family doesn't have the savings. They don't have the savings. They need something to protect them. Right? Not to mention, this is the other stat that I think is just absolutely insane. It's kind of scary when you look at it. There are 3 billion monthly active users on Facebook. 3 billion people use Facebook every single month. So when they, when they say Facebook, that means, like Facebook and Instagram, there's three billion people. So I think there's maybe like eight and a half, nine billion people on the planet. One in three of everybody on the planet uses Facebook every month, which is ridiculous. Absolutely insane. So to answer your question, right, or to answer the question, is it still worth it to sell life insurance in 2024? In my opinion, there has never been a bigger opportunity than there is right now. The whole senior boom, this whole opportunity, this lasts for the next, like five to 10 years. And then, you know, you start to kind of start to get into gen. I think it's Gen X and Gen Y, and there's a little bit less of them than there are baby boomers. And so there still will be a massive opportunity for this market. But the biggest opportunity in my eyes is in the next five to 10 years when all these people are aging into retirement and they are all needing life insurance. So yes, it is 1000% still worth it to be selling final expense in 2024. And if you're not seeing the success, the biggest thing that I've realized is it all comes down to the system that you are running, the leads and your selling system, right? So if you're asking this question, it's probably because you're not making money or you're scared in some way. And the way that you can avoid this, because a lot of people are going to drop out of the industry with the lead ban and, you know, the competition. There's a lot of people in the industry, right? But if you understand this on a fundamental level and you can use this like what I'm about to show you to your advantage, you're going to be able to beat everybody. It all comes down. Like I've said this in multiple videos, but I'm going to repeat it again. Your business is a system. You have inputs, you have your selling system and your outputs is sales or issue paid policies. So if you have quality leads coming into a quality system that's efficient and automated, you're going to get money, you're going to make a lot of it. And so really what it comes down to is having an efficient system to be able to sell insurance. And if you have that, it's 100% worth it to sell insurance in 2024 and beyond. Because it's never been as big of an opportunity again. 12,000 people turning 65 every day. 7 in 10Americans have less than $1,000 in savings. There's 3 billion people on Facebook. So if you can target those people with a product they need, they're going to buy it. Especially if you learn how to do the skill. So to answer the question, yes, it is 1,000% worth it. You just need the right system. And if you guys want to see a video where I break down the best way to sell final expense insurance, I put together, it's like an hour long free course, free guide that shows you guys how to make $1,000 per day selling final expense insurance from home. Click this video right here to watch that free course and hit the subscribe button for more content like this. I'll see you guys soon.