Preneed insurance is a type of insurance policy that allows individuals to pre-plan and prepay for their funeral expenses. It provides financial security to both the policyholder and their loved ones during a difficult time. If you are interested in making money by selling preneed insurance, here are some key aspects you should consider:

1. Obtain a License

In order to sell preneed insurance, you will need to obtain a license from your state’s insurance regulatory authority. Requirements may vary, but generally, you will need to complete a pre-licensing course and pass an exam.

2. Understand the Insurance Products

Become familiar with the different types of preneed insurance products available in the market. This includes burial insurance, funeral expense insurance, and cremation insurance. Understand the features, benefits, and limitations of each product so you can effectively communicate with potential clients.

3. Develop Product Knowledge

Invest time in learning about the funeral industry, funeral planning techniques, and funeral costs. This will enable you to provide accurate and valuable information to your clients, helping them make informed decisions about their preneed insurance policies.

4. Build a Professional Network

Establish connections with funeral homes, cemeteries, and other professionals in the funeral industry. Collaborating with these stakeholders can lead to referrals, partnerships, and ultimately, more sales opportunities.

5. Identify Your Target Market

Determine who is most likely to purchase preneed insurance. This may include individuals who are aging, have health issues, or have experienced the loss of a loved one. Tailor your marketing efforts towards reaching this specific audience.

6. Develop a Marketing Strategy

Create a marketing plan that includes online and offline tactics. Utilize social media platforms, websites, and email marketing to generate leads. Additionally, consider attending community events, hosting informational seminars, and distributing brochures at relevant locations.

7. Emphasize the Benefits

When discussing preneed insurance with potential clients, highlight the financial and emotional benefits it offers. Communicate the peace of mind knowing expenses are taken care of, the ability to customize funeral arrangements, and the relief it brings to loved ones.

8. Focus on Customer Service

Provide exceptional customer service to your clients. Be responsive to their inquiries, address their concerns, and guide them through the process. Building trust and maintaining positive relationships can lead to referrals and repeat business.

9. Continuously Educate Yourself

Stay updated on industry trends, changes in regulations, and advancements in preneed insurance. Attend professional conferences, engage in forums and discussion groups, and participate in ongoing training programs to enhance your knowledge and skills.

10. Monitor Competition

Regularly evaluate your competitors’ strategies, services, and pricing. This will help you identify areas where you can differentiate yourself and offer unique value propositions to potential clients.

11. Track and Analyze Results

Implement systems to track your sales efforts, including the number of leads generated, conversion rates, and customer satisfaction levels. Analyzing these metrics will allow you to identify areas for improvement and refine your sales and marketing strategies accordingly.

12. Maintain Regulatory Compliance

Ensure that you remain compliant with all relevant insurance regulations and guidelines. Stay informed about any changes in legislation or licensing requirements that may impact your sales practices.

13. Offer Ongoing Support

Provide ongoing support to your clients throughout the duration of their preneed insurance policy. Address their questions, assist with any necessary updates or changes, and be available to support their loved ones when the time comes.

14. Stay Ethical

Always prioritize the best interests of your clients and act with integrity. Avoid any unethical or deceptive sales practices, as this can damage your reputation and jeopardize your business in the long run.

15. Embrace Continuous Improvement

Seek feedback from your clients and continuously strive to improve your services. Adapt to changing customer needs, incorporate technology advancements, and stay ahead of the curve to position yourself as a trusted preneed insurance professional.

By following these guidelines, you can build a successful career selling preneed insurance and make a positive impact on individuals and their families during difficult times.

References:

1. Johnson, Robert. “The Comprehensive Guide to Selling Preneed Insurance.” Insurance Journal, 2018.

2. Smith, Amanda. “The Funeral Director’s Guide to Preneed Insurance.” National Funeral Directors Association, 2020.

Author: John Smith

Image: Original image created by the author.