Logo
    Contact us
    Logo

    support@sparkadvisors.com

    [ARCHIVED] Spark Help Center (VISIT https://help.sparkadvisors.com/en/)
    [ARCHIVED] Spark Help Center (VISIT https://help.sparkadvisors.com/en/)
    /Agent Training
    Agent Training
    /Life & Final Expense
    Life & Final Expense
    Life & Final Expense

    Life & Final Expense

    Created
    Mar 19, 2025 5:15 PM
    Tags
    Thumbnail
    Type
    Topic

    Download an Introductory Presentation below:

    Final Expense Introduction.pdf1629.6KB

    Types of products

    • Final expense: where you start, simplified underwriting small-life policy that's good for senior Medicare clients.
    • AIG Guaranteed issue: get the policy without the same strict underwriting.
    • Products to start with: AIG Final Expense (Guaranteed Issue), Gerber Life, Mutual of Omaha Living Promise, Aetna, Sons of Norway
    • Fixed annuities: don't need an extra license to sell it, and typically a much better alternative if the client has money in CDs
    • Most importantly: typically check in advance of policy being sold (esp. annuities) given that they're dealing with so much money.

    Running quotes

    Click on the link below to run a Final Expense Quote!

    Run a quote

    Want a quote?

    Compete the forms below and send to support@sparkadvisors.com if the quote is not for a guaranteed issue plan.

    Life Insurance Fact Finder.pdf276.4KB
    Final Expense Fact Finder.pdf700.5KB

    Appointments

    • You typically get appointed when you have a life policy to sell. Don't need to do pre-appointments.

    Details by client type:

    (carriers to start with: GTL, Gerber, Mutual of Omaha, Aetna, AIG)

    ‣
    Healthy-Higher Income Clients (Target Ages 18-60)
    1. Indexed Universal Life – North American Builder Plus IUL, Protective Life Indexed Choice UL, Lincoln Financial Wealth Accumulate IUL
    2. Hybrid Life/LTC – Lincoln Moneyguard
    ‣
    Healthy- Middle Income Clients(Target Ages 18-60)
    1. Guaranteed Universal Life
      1. Permanent insurance with little to no cash value accumulation
      2. Cheapest form of permanent insurance
      3. Available carriers include Protective Life, North American, Nationwide, American General.
    2. IUL Express (Non-Med)
      1. More affordable IUL option with no medical exam. Face amounts from $25k - $300k with cash value accumulation
      2. Mutual of Omaha IUL Express is the only plan on the market that is non-med and has excellent rates
    3. Term Insurance
      1. Very affordable for lower to middle income clients that are in good health
      2. Top products are;
        1. GTL Turbo Term (Non-Med up to $1Mil)
        2. Mutual of Omaha Term Life Express (Non-Med up to $300k)
        3. Fully underwritten plans such as North American Advantage Term, Protective Life Classic Choice Term, Foresters Your Term
    ‣
    Final Expense (Target Ages 60-85)
    1. Immediate Benefit Plans

        2. (Americo, Cigna, Foresters, Mutual of Omaha)

      1. Simplified Issue, non-medical whole life plans with first day coverage
      2. Lenient underwriting and quick to issue
      3. Face Amounts range from $5,000 - $50,000 depending on the carrier
      4. Great plan for clients looking for small death benefits and quick issue
    2. Graded/Modified Plans

        3. (Cigna, Foresters, Mutual of Omaha)

      1. For clients with multiple health issues that otherwise have been declined from Immediate Final Expense or any other type of life insurance
      2. Simplified issue, non-medical and have only a few health questions
      3. Limited death benefit for the first 2 years
      4. Better than a guaranteed issue because these pay out roughly
        1. 30% for death in 1 year
        2. 60% for death in 2 year
        3. Full benefit year 3+
    3. Guaranteed Issue Final Expense

        4. (AIG, Americo, Gerber Life)

      1. For clients that cannot pass underwriting
      2. Automatically accepted regardless of their health
      3. All have limited death benefit
        1. First 2 years where they will receive Return of Premiums plus 10% interest
        2. Full benefit if death occurs year 3+