As a life insurance agent, you play a critical role in helping your clients protect their families and financial futures. Final expense insurance is an important tool that can provide coverage for end-of-life expenses, such as funeral costs and outstanding debts, and can provide peace of mind for families during a difficult time.
In addition to traditional life insurance policies, you may also want to consider selling mortgage protection insurance (MPI). MPI provides coverage to pay off a mortgage in the event of the policyholder's death, allowing their family to continue living in their home without the burden of the mortgage payment. This can provide peace of mind for your clients and allow their children to continue growing up in a familiar environment.
Many homeowners have a mortgage and are concerned about the financial impact that their death could have on their family's ability to pay off the mortgage. MPI can provide coverage to pay off the mortgage in the event of the policyholder's death, allowing their family to continue living in the home without the burden of the mortgage payment.
MPI is often easy to sell because it addresses a common need and can be a relatively inexpensive option compared to other types of life insurance. Plus, it can be sold as an add-on to a life insurance policy, making it a convenient choice for clients who are already considering purchasing life insurance.
Additionally, selling MPI can be a good income generator for life insurance agents because it allows them to sell additional policies to their clients. It can also be an easy way to upsell to clients who are already interested in purchasing life insurance.
By offering MPI, life insurance agents can provide their clients with peace of mind knowing that their family's home will be protected in the event of their death. This can be especially important for clients who have young children or who are the primary breadwinner for their family.
Selling MPI can also generate leads for other life insurance products, such as final expense and whole life insurance. This can help life insurance agents expand their business and reach a wider range of clients.
Final Thoughts
Selling MPI can be a rewarding and lucrative addition to your product offerings. It can also generate leads for other life insurance products, such as final expense and whole life insurance. If you're looking to expand your business and offer a valuable service to your clients, consider adding MPI to your product mix.
If you are considering becoming an agent or if you are thinking about changing companies, Real Financial would love to have you on our team.
Click here to get started on your new career path and become an iKon