Selling final expense insurance is a great way to make money. You can either work completely independent or you can be employed by an insurance company to sell their specific products.

There are some benefits of the independent insurance agent and there are some benefits of employment as a final expense life insurance agent. When you are independent, you are completely responsible for yourself and constantly have to motivate yourself to get up each day and find prospects to sell to, follow up on existing clients, make appointments, fax all your paperwork to the proper places, etc. No one is telling you to do any of this so you can very easily become lazy and let your business just fall through the cracks.

When you are employed by a life insurance company, you have to report to work just like any other job. They often have a schedule for you to follow. One company called Bankers Life has you come in on Monday, Wednesday and Friday to make your cold calls. They teach you how to call seniors and how to make appointments with them for different insurance products. Bankers has a counter installed on your phone and they count your calls and compare your productivity with other agents and reward you accordingly. They also have weekly and daily contest for you to take part in, all hoping it will motivate you.

I know many companies have these type of protocols in place to help their agents stay focused. They also offer you insurance leads and often offer you a book of business that is already established. For a lot of debit agents, you are given a group of clients that are already on the books and you are to make sure they make their payments and you are to make sure they know about new products and try to entice them to buy more insurance. If not them, you try to sell to their family and friends on your monthly rounds to collect the payments. These type of insurance agents, otherwise known as debit agents, are paid a salary and a small commission on top for their sales. For instance, Monumental has a program where they pay their agents $500 a week and then they make some commission too. You don’t get rich, but you have steady work and a steady check.

I know several agents who have been employed by these type of agents for many years and they are happy, knowing that the income is steady and the client base is solid; whereas, I know many independent agents who have flaked out in the first 6 months and not only are they not in the business, but they leave the business owing money to companies. Why? Because they weren’t motivated enough to run their business efficiently or they didn’t have the funds to keep themselves in business. Being independent is not for everyone.

So if you are trying to decide on which direction to go, really try to measure yourself up and try to prejudge which type of work is better for you. Sometimes the “J-O-B” is a better fit than the business model. The money potential isn’t the same but you need to be motivated to make good money when you’re independent. On the other hand, the financial rewards of being independent can be a powerful motivator.

I suggest becoming a member of www.FinalExpense101.com regardless which way you decide to go because it will help you with your sales either way.

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