Final Expense Insurance: Selling a Service

Anyone in business knows that there are two categories of sales: you either sell products or you sell services. Generally, the same sales strategies and tactics can be employed across the board, but there are some subtle differences between the two divisions that every salesperson should be aware of.


At Financial Providence Group we provide our clients with final expense insurance. Insurance is rooted in the hypothetical (financial coverage for if and when x occurs), and final expense insurance falls under the “services” category of sales. What does this mean for the agents who sell it? Here are some factors to keep in mind as you continue to hone your sales savvy:


  1. It is important to note that services, while no less effectual than products, are intangible. Customers cannot touch, feel, or see an insurance policy like they could a sleek new iPad or a cozy pair of slippers; the closest a client comes to interacting with their insurance is if and when they witness their policy in action, preserving their hard-earned funds.Consumers’ desire for tangibility can be satisfied by physical collateral that provides further information on the benefits of the service in a straightforward, brand-consistent manner.


  1. Relationship building. Where products tend to be a one-and-done transaction, services are often ongoing processes (read: lasting over a predetermined period of time) that necessitate the upkeep of long-term client relationships. It is important that the client feels they can trust you, as they won’t be walking away with something shiny and exciting, but rather an assurance that their loved ones will be spared from hypothetical expenses—not exactly a sexy or exciting purchase.


  1. Qualifying value. When considering the purchase of a product, it is easy to measure the objective value and quality against other products of the same category. If you buy a stain remover and it does in fact remove the catalyzing stain, you’ll know almost immediately whether it’s a “good” product and therefore a worthwhile purchase.Services require a longer assessment period. With insurance, customers won’t be able to see the efficacy of their policy until (hopefully) much, much further down the road from when they purchased it.


  1. Returns. A consumer cannot return a service like they might return a faulty toaster or a dress they wore only once. “Returning” a service (like an insurance policy) is less black and white and more about canceling contracts that may or may not have penalties attached. Thus, potential buyers of services must be talked down from a much higher threshold of resistance if they are to ultimately make the purchase. They can’t return policies and so must be sure of the quality and how it will ultimately benefit them.


  1. Temporal shelf life. If you run a car wash and do not sell any car washes for one day, you can never get that days’ worth of profit units (car washes) back. In other words, the potential of that day’s sales is gone forever because services cannot start until the customer arrives. On the other hand, imagine that you’re in the business of selling the actual cars, not just the wash; every day you don’t sell a car, that same product can be sold tomorrow without loss of the profit unit (the car).


So then what constitutes a perfect product or service? Regardless of the fine print surrounding the distinction between the two, the products and services that perform the most successfully are those that improve people’s lives by filling a preexisting need. Where there’s an unmet need, there’s an enterprise vacuum. Enter: Financial Providence Group.


Final expense insurance is an ideal service because it offers a solution to a specific, palpable need for protection from sky-high funeral and end-of-life costs. While not the sunniest of topics, death is a reality that affects all of us at one time or another. Unlike insuring boats or renters of apartments, the final expense insurance niche is contingent upon the most inclusive experience of them all—human mortality.


Bleak? Maybe. Necessary? Most definitely.


Think you have what it takes to join our family of all-star agents? Visit our website,, to learn more about this opportunity or reach out today at 888.613.8224 to speak with one of our expert staff about their own FPG success story.


We can’t wait to meet you!

Click to share!