Selling Life Insurance

Life Insurance Policies

Prosperity Select

Oxford Life’s Prosperity Select is a cost-effective final expense policy to help pay for funeral costs and other expenses after a death.

Assurance

Keep your family from being responsible for unexpected costs related to your funeral & burial without payments.

Assurance One

Provide a lifetime of financial protection for your family with one premium payment and transfer the death benefit to your heir tax-free.

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LIMRA conducted a Life Insurance Barometer Study in 2021 and discovered the four most popular misconceptions people have about purchasing life insurance:

  • It’s too expensive
  • Employer offers life insurance
  • It’s too difficult to purchase
  • Age - 'I'm too old' or 'I'm too young'

As a life insurance agent, you understand the value and the peace of mind your client can attain when they purchase a final expense life insurance policy. Selling the right life insurance policy can provide financial security to your clients and their loved ones once they pass.

Many people aren’t aware of the benefits a life insurance policy offers the policyholder and their families. It’s important that life insurance professionals effectively communicate the value of a life insurance policy to their clients.

Life insurance policies offer several benefits to both policyholders and their beneficiaries. Although there are many different types of life insurance plans and they all have different offerings, the following are the main reasons why people consider buying life insurance:

  • Wealth Transfer: The beneficiaries who are named on the policy will receive the death benefit, allowing you to transfer wealth to family members and loved ones.
  • Replace Loss Income: Life insurance can help replace your clients income once they pass away. Those who are dependent on your clients’ income will be taken care of after death.
  • Cover Final Expenses: Life insurance policies can cover the cost of your clients funeral, debts, outstanding medical bills and other expenses.

Final Expense, also known as burial insurance, is designed to cover bills and other expenses one might face after a death of a loved one. The average funeral costs between $7,000 and $9,000. Policyholders can use final expense insurance to pay for the following:

  • Hospital Bills
  • Nursing Home Bills
  • Unpaid Taxes
  • Casket
  • Headstone
  • Flowers
  • Travel Costs
  • Funeral Expenses

Unlike traditional life insurance, final expense policies doesn’t require an in-depth investigation into your clients’ medical history to receive coverage. Most policies can be issued by answering a few health related questions.

With the convenience of a single payment, your client can transfer the money accumulated over the Policyholder's lifetime for their children, grandchildren or charity, Federal income tax-free.

Single premium life insurance takes advantage of current tax laws to minimize tax liability, helps increase the size of your clients’ estate in a tax efficient manner and protects beneficiaries from being moved into a higher tax bracket.

Oxford Life Insurance Company has been servicing agents since 1965 and has an "A" Excellent Financial Strength Rating from AM Best, a global credit rating agency for the insurance industry. Contact us today to learn more on how to become an agent for Oxford Life.