Final Expense

This is Jerry Moulton, and I'm a licensed insurance agent with GoHealth in partnership with Colonial Penn, and I am on a recorded line.

How are your today?

Conversation

Alright, so my job is to make sure your family has the protection they need in case something happens to you.

Before I get too far, who is going to be in charge for making your final funeral arrangements, and paying for your burial or cremation expenses when you pass away?

Now before I can see how we can help you with those funeral expenses, so I want to verify a bit of information.

So the average cost of a funeral is between $8-40K, depending on several things. My job is to help you help [Responsible Party] pay for it.

So I'll start by asking you a some questions,  And then we will go through what is available to you.

Other than [Responsible Party], who else would be impacted by your passing, either emotionally or financially?


• Some things that are forgotten that cause financial burden are travel expenses, time off work and unpaid bills. Do you have family that will need to travel?


• Most of my customers leave anywhere between $100-$5000 to their family, how much do you want to leave?"

Have you thought about what type of Funeral arrangements you'd want. Are you thinking being cremated or buried?

arrangement *

As I am checking here, it looks like the cost range for a Cremation and service in your area is anywhere from $____ to $____ Thousand.

As I am checking here, it looks like the cost range for a burial in your area is anywhere from $____ to $____ Thousand.

Cremation Options

  • Memorial Service

  • Cremation

  • Urn

Burial Options

  • Funeral Service

  • Casket

  • Headstone

So it looks like you need [$____] of coverage for [Responsible Party] That would take care of a Burial/Cremation, So they're not left with any out of pocket funeral expenses resulting from your death.  Does that sound about right?

So do you currently have any life insurance?

Term

When does it end?


How much coverage do you
have?

Explain how this complements current plans

Whole Life

What’s the monthly cost?


How much coverage do you have?

Reinforce guaranteed issue benefits

  • Adding new insurance to coverage you already have OR applying for new coverage because an existing policy is ending due to retirement is NOT replacement.

  •  Canceling or changing an accidental death policy is NOT replacement.

  • Canceling or changing current life insurance coverage to take out our coverage IS replacement.

So this is to make sure your family is taken care of so they can avoid any added expenses when you pass away.

The coverage is guaranteed accepted whole life insurance, so you qualify no matter your current health, and the coverage takes effect immediately upon issue. Your premiums will never increase, and your coverage will not decrease. 


So this coverage comes in units. The more units you get the more coverage you get.  The maximum number of units is 25 units.

My job is to find the balance between the two. Most of my clients invest between $75 and $150 a month for their coverage.  I also include a 10K Accidental Death Rider where available, and only costs $2 per month additional premium.

So what kind of budget are you thinking for this kind of coverage?

Budget

Colonial Penn Lookup

Plan Presentation

Based on your information, I was able to find a plan that gives you $____ in coverage for a monthly premium of $___ per month.  Do you think that is enough coverage, and within your budget?

Now I am also going to add an accidental death rider.  It is for $10,000, and only cost an additional $2 per month.  So some added benefits for a very small cost.

Accident rider included

Now If you should pass from a non-accident during the first two years of coverage, your beneficiary will receive the premiums you paid plus 7% interest compounded annually.


The full amount will be paid for accidental death during the first two years. The accident must occur while coverage is in force and death must occur within 90 days of the accident.

Accidental death does not include death resulting from bodily or mental illness or disease; infection; suicide; medical or surgical treatment; voluntary gas inhalation or taking poison; or any act of war. 

After the first two years, the full-face amount will be paid for death from any cause.

Are there any questions before we start the application?

Great, Lets go ahead and lock in your rate and get your policy started today.  Bare with me for just a moment while get that application open.

Your effective date will be today, so that your family is protected if something should happen to you.

Can you confirm your address is _____?

You told me earlier that _______ would be the beneficiary. What is their full name?

Application

Thank you for taking the time to speak with me today.


I want to congratulate you on making such an important decision to protect your family - it’s a meaningful step in securing peace of mind for you and your loved ones.

A physical copy of your policy and application will be mailed to you within a couple of days and should arrive within about a week.

You can also request digital copies by accessing mycolonialpenn.com.

Would you like to purchase a similar policy for anyone else, a spouse or other family member? If they are there with you now, we can discuss options for them!

Many of my clients have family members or friends who might benefit from learning about this kind of coverage. Is there anyone you care about who might appreciate having this protection for their loved ones? I’d be happy to give them the same quick overview we went over.

Alright, remember your first payment is set to be drafted on [selected effective date]


Colonial Penn Life Insurance is committed to customer service, so if you have any questions in the future, please don’t hesitate to call us at 1-800-250-4400. Do you have any questions before we go?  Thank you for your interest in Colonial Penn, we look forward to serving you and your family in the future.


Thanks, again. Goodbye and have a wonderful day.