How to Get Contracted With Final Expense Carriers: What to Ask
Getting contracted is the step between getting your license and writing your first policy. It decides which carriers you can sell, what you are paid, and how free you are to move later. This guide covers how carrier contracting works, what you need before you start, and the questions worth asking any agency before you sign.
What carrier contracting is
Agents typically get final expense contracts through an agency or marketing organization (often called an IMO or FMO), which sits above you in the carrier’s hierarchy. You sign the carrier’s agent agreement, the carrier reviews your background, and once approved, the carrier appoints you in your state. Only then can you submit applications for that carrier.
The agency you contract through matters. It sets your contract level, controls your release if you ever want to move, and decides whether you keep your renewals if you leave.
What you need first
- An active resident life license. You need it to be appointed. An accident & health license is needed for health and Medicare products.
- Errors & omissions (E&O) coverage. Some carriers require proof of E&O before they appoint you, so check each carrier's requirements.
- Anti-money laundering (AML) training. Federal rules require insurance companies to make sure their agents are trained on their AML programs for covered products (31 CFR 1025.210). Carriers usually ask for a certificate.
- Bank details for direct deposit, and your licensing information handy.
How the process works
With FEX Careers, carrier contracting is done online:
- Apply. Fill out the contracting request and pick the carriers you want. One contract is fine.
- Get your SureLC invite. SureLC by SuranceBay is the online contracting system many carriers use. You build your profile once.
- E-sign. Sign each carrier’s agreement online. The carrier runs its background review.
- Get appointed. Some carriers can appoint you in as little as 3 days. Timing depends on the carrier and your state, and each carrier makes the final decision.
Contract levels, releases and vesting
Contract level. Final expense commissions are paid as a percentage of the first-year premium. Independent final expense contract levels commonly run in the 80%–120% range depending on the carrier, the product and your position in the hierarchy (InsuraCentral). FEX Careers offers street-level compensation, paid at the carrier’s full agent level. You can look up levels by carrier on our home page.
Releases. To move a carrier appointment to a different hierarchy, you generally need a release from your current upline. If the release is refused, many carriers impose a waiting period, commonly six months of no business with that carrier, before you can be reappointed elsewhere (InsuraCentral).
Vesting. Vested renewals mean you keep the renewal commission on your book if you leave. Unvested renewals go back to the upline (InsuraCentral). With FEX Careers, you own your book of business.
Advances and chargebacks. Many carriers pay commission in advance and take back the unearned part if a policy lapses early. Read our guide, Chargebacks Explained, before you sign.
Questions to ask before you sign
- What contract level will I start at, for each carrier?
- What is your written release policy?
- Do I own my book? Are my renewals vested, and from when?
- Do I have to buy leads, or meet a production quota?
- If leads are offered, are they at cost, marked up, or advanced against my commission?
- Can I keep my other contracts?
- Who do I call when a case is stuck in underwriting?
Lead debt deserves extra attention. An agent who owes an upline for advanced lead costs can find it hard to leave, whatever the release policy says (InsuraCentral). FEX Careers does not sell leads and does not make money from leads. Agents who want leads can use exclusive third-party vendors for direct-mail and digital leads at a discount. For more on agency structures, see how MLM insurance agencies work and captive vs. independent.
Carriers we contract
Final expense and life carriers available through FEX Careers include:
- Polish Falcons of America
- KSKJ Life (whole life)
- Family Benefit Life
- CICA Life
- Royal Neighbors of America
- Liberty Bankers Life
- Baltimore Life
- Mutual of Omaha
- Transamerica
- American Amicable
- Foresters Financial
- AIG (Corebridge)
- Americo
- Gerber Life
- Aetna Supplemental
- TruStage
- GTL
We currently contract agents in the 16 states where our agency is licensed: Alabama, Arizona, Florida, Georgia, Indiana, Kentucky, Michigan, Mississippi, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia. If your state is not listed, apply anyway and choose “Other state.”
Carrier contracting FAQ
What does it mean to get contracted with a carrier?
The paperwork and approval process that lets a licensed agent sell a carrier’s final expense policies. You sign the carrier’s agreement through an agency, the carrier reviews your background, and then appoints you.
Do I need a license first?
Yes. You need an active resident life license to be appointed. If your license is in progress, apply now and we will help you plan your next steps.
How long does it take to get appointed?
Some carriers can appoint you in as little as 3 days. Timing depends on the carrier and your state, and each carrier makes the final decision.
Can I get just one contract?
Yes. Contract with one carrier or as many as you like. There is no minimum, and you do not have to move your other contracts.
Do I have to buy leads from you?
No. We do not sell leads, and we do not make any money from leads. Discounted leads from exclusive third-party vendors are available if you want them.
This guide is general information for licensed insurance professionals, not legal, tax or compliance advice. Contract levels, release rules and carrier requirements vary by carrier, product and state, and can change. Check each carrier contract before you sign.
Ready to get contracted?
Street-level contracts, your own book, and one contract is fine.
Start my contracting request →