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InsuranceCareer.com is your source for the best information about insurance careers, insurance industry opportunities and more!
InsuranceCareer.com is your source for the best information about insurance careers, insurance industry opportunities and more!

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What is Final Expense Insurance and why do we need it?

Final Expense insurance falls under the Life Insurance category and is exactly what it sounds like - an insurance policy that pays for a person’s final expenses such as funeral and burial costs.

Most people don’t realize that the average funeral costs approximately $10,000. If a deceased person does not have enough money set aside to pay for these expenses, the surviving relatives will have to cover the costs. Imagine what it would be like to be grieving the loss of a loved-one and at the same time have to worry about coming up with $10,000! This is the primary reason people will want to purchase Final Expense insurance policies; however, they first need to be educated about plan benefits and availability.

With the senior population growing faster than ever, the need for qualified agents to sell Final Expense plans is also growing. This is the type of insurance that is easily sold with other types of plans such as Medicare, which allows agents to increase their sales by cross-selling to the same client base.

Click here to learn more about selling Final Expense plans.
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It's the season for Medicare insurance sales! Just when you thought you’d had enough political ads, now you are going to be inundated with Medicare insurance commercials. The reason for the increase in Medicare advertising is there is one time a year when seniors have the opportunity to change their current Medicare plan. It’s called Annual Election Period or AEP for short; and it’s from October 15 – December 7. Although agents can enroll seniors in Medicare plans all year long, AEP is the easiest time of year for agents to increase their number of Medicare clients because so many seniors want assistance in changing their plans. The opportunity during this time of year is huge and many agents spend the fall ramping up for AEP so they can increase their client base, which of course, increases their earnings.
 
If you are reading this blog, then you may be wondering whether you should get into the Medicare insurance business. Think about this, choosing the right insurance plan can be completely confusing; and the Medicare industry is even more of a mystery. There are about 10,000 Americans turning 65 every single day; that’s 2.5 million people EACH YEAR that need help finding a Medicare insurance plan. Talk about a target rich environment! Plus, you probably already know the Baby Boomer generation is the largest of this country. That means we have about 15 more years of massive numbers of people turning 65.

Learn more here: http://www.insurancecareer.com/medicare-insurance-career/
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Our government does offer health insurance coverage through our Medicare system. One of the fallacies is that Medicare insurance is free and that is actually not the case. The government takes approximately $100 per month from a senior’s (65+ years old) Social Security check to assist with the cost of providing health insurance coverage. The problem with the coverage offered by Medicare is that the benefits are so limited the senior has to pay more money out of his/her pocket every time they go to the doctor, have a procedure done or have to go into the hospital. These costs can rack up very quickly, which is a huge issue for seniors on a fixed income. Additionally, Original Medicare does not provide much coverage for preventative medicine.
 
Because of these factors, private insurance companies offer Medicare supplemental insurance plans that assist seniors with their health insurance needs. There are a lot of different types of insurance plans, but the most common are Medicare Advantage plans, Medicare Supplements and Prescription Drug plans. These plans vary from HMO type plans to plans that cover whatever is not covered by Original Medicare. The costs and benefits of these plans vary depending on a number of factors, such as where a senior lives, plans available in that area, etc.
 
Only a small percentage of seniors just have Original Medicare. Most seniors sign up for additional coverage so they can be sure their health care is properly covered. This fact and the fact that 10,000 people turn 65 every day, makes the Medicare industry one of the fastest growing insurance fields.  

To learn more, visit the following link:http://www.insurancecareer.com/medicare-insurance-career/
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