I’ve made over $5 million selling one product: final expense insurance.
And after years in this business, I can tell you with absolute certainty that final expense isn’t just a good product to sell.
It’s the BEST product to sell.
Here’s why the numbers, the market, and the reality of American families make final expense insurance the smartest choice for any serious insurance agent.
The Market Reality: Everyone Is Your Prospect
Let me start with the most obvious advantage of final expense insurance: everyone is a prospect.
Think about that for a second.
With term life insurance, you’re targeting young families with mortgages and dependents. With whole life, you’re looking for high-income earners who want to build cash value. With disability insurance, you need people with significant income to protect.
But with final expense insurance? Everyone needs it.
Every single person who’s going to die needs final expense coverage. And last I checked, that’s 100% of the population.
The target market isn’t limited by age, income, health status, or family situation. A 45-year-old single person needs it just as much as a 75-year-old grandparent. Someone making $30,000 a year needs it just as much as someone making $100,000.
This universal need makes final expense insurance the easiest product to sell because you never have to convince someone they need it. They already know they do.
The Numbers Don’t Lie: Funeral Costs vs. Family Savings
Here’s where the market gets really compelling for final expense insurance.
The average funeral in America costs between $7,000 and $15,000. That’s not a luxury funeral with gold-plated caskets. That’s just a basic, dignified burial or cremation.
But here’s the kicker: according to the Federal Reserve, 40% of Americans can’t cover a $400 emergency expense without borrowing money or using a credit card.
Let that sink in.
40% of Americans struggle with a $400 emergency, but 100% of their families will face a $10,000+ emergency when they die.
This gap between funeral costs and family savings creates a massive market opportunity for final expense insurance. Families desperately need this coverage, even if they don’t realize how desperately until it’s too late.
The Demographics Are Perfect
The final expense insurance market is driven by demographics that are only getting better for agents.
The Aging Population: Baby boomers are the largest generation in American history, and they’re hitting prime final expense insurance ages. Every day, 10,000 Americans turn 65. This trend continues for the next 15+ years.
Increased Awareness: More families have experienced the financial shock of unexpected funeral costs. Word spreads. People are becoming more aware of the need for final expense coverage.
Economic Uncertainty: When people are worried about money, they don’t buy investment products or expensive whole life policies. But they will buy affordable final expense insurance to protect their families from debt.
Rising Funeral Costs: Funeral expenses continue to rise faster than inflation. The more expensive funerals get, the more valuable final expense insurance becomes.
The Psychology Works in Your Favor
Final expense insurance is the easiest sale in the insurance world because the psychology is perfect.
Fear vs. Greed: Most insurance products are sold on future financial gain (greed). Final expense is sold on protecting family from burden (fear). Fear is a much stronger motivator than greed.
Love for Family: Parents and grandparents will sacrifice almost anything to protect their children and grandchildren. Final expense insurance lets them protect their family for just a few dollars a month.
Immediate Understanding: You don’t need charts, projections, or complex explanations. “This makes sure your family doesn’t have to come up with $10,000 for your funeral” is instantly understood and valued.
No Complex Decision-Making: Final expense policies are simple. Fixed premiums, guaranteed death benefits, no investment components. Simple products sell faster than complex ones.
The Sales Process Is Streamlined
I’ve sold millions of dollars of final expense insurance, and here’s what I love about the sales process:
Short Sales Cycle: Most final expense sales close on the first call. No follow-ups, no “think about it,” no multiple meetings. People understand they need it and buy it.
Simple Objection Handling: The main objections are price and health. Both are easy to address with proper positioning and multiple carrier options.
High Close Rates: With quality leads and proper presentation, final expense insurance closes at much higher rates than other insurance products.
Immediate Gratification: Prospects can get approved and covered the same day they apply. Instant solution to their problem.
The Commission Structure Is Agent-Friendly
Final expense insurance offers some of the best compensation in the insurance industry:
High First-Year Commissions: Most final expense policies pay 100%+ first-year commissions. Sell a $50/month policy, earn $600+ in commission.
Lifetime Renewals: Final expense policies typically stay in force longer than term life, providing steady renewal income.
Quick Pay: Most companies pay weekly or bi-weekly, giving agents faster access to their commissions.
Low Chargebacks: Final expense policies have lower lapse rates, meaning fewer chargebacks and more predictable income.
The Competition Is Weak
Here’s something most agents don’t realize: the competition in final expense insurance is surprisingly weak.
Many agents avoid final expense because they think it’s “beneath them” or not sophisticated enough. They chase complex products with bigger face amounts, leaving the final expense market underserved.
This creates massive opportunity for agents who focus on final expense. While others are fighting over the same high-net-worth prospects, you’re dominating a market with less competition and higher close rates.
The Market Is Recession-Proof
Final expense insurance is one of the few financial products that actually becomes MORE important during tough economic times.
When people lose jobs or face financial hardship, they cancel investment products, cash out life insurance policies, and stop contributing to retirement accounts.
But they keep their final expense insurance.
Why? Because they know their family will need that money more than ever if something happens to them. Economic uncertainty makes final expense insurance more valuable, not less.
The Referral Potential Is Massive
Final expense insurance creates natural referral opportunities:
Family Policies: When you cover one family member, others often want coverage too.
Emotional Purchase: People feel good about buying final expense insurance. Happy customers refer friends and family.
Universal Need: Everyone the customer knows needs final expense insurance too.
Simple Explanation: It’s easy for customers to explain final expense insurance to others: “It makes sure my kids don’t have to pay for my funeral.”
The Market Keeps Growing
Unlike some insurance products that are being disrupted by technology or changing consumer preferences, the final expense market keeps growing:
Aging Population: More people entering prime final expense ages every year.
Rising Costs: Funeral expenses continue increasing, making coverage more valuable.
Increased Awareness: More families experiencing funeral cost shock, driving demand.
Economic Reality: Fewer families have savings to cover funeral expenses without insurance.
Why I Chose Final Expense Insurance
After making over $5 million in this industry, people ask why I focus on final expense insurance instead of chasing bigger policies.
The answer is simple: final expense insurance is the perfect combination of massive market, simple sales process, and genuine need.
I can help more families, close more sales, and build a more predictable business with final expense than any other product.
The market tells the story. The demographics support it. The psychology works. The sales process is smooth. The commissions are strong.
Most importantly, you’re solving a real problem that every family faces.
That’s not just a good product to sell. That’s the best product to sell.
The Bottom Line
Final expense insurance represents the largest, most underserved market in the insurance industry.
100% market penetration opportunity. Simple sales process. Strong commissions. Recession-proof demand. Weak competition.
If you’re looking for the best product to build a million-dollar insurance business, final expense insurance isn’t just an option.
It’s the obvious choice.
David Price built The PRICE Group into an 8-figure business by recognizing the massive opportunity in final expense insurance. His focus on this single product has generated over $5 million in personal income while helping thousands of families protect themselves from funeral cost burdens.
