What are Final Expense Leads?
As hard as it is to think about, the only thing we are guaranteed in life is death. We all die, but that doesn’t mean it has to be expensive for your clients!
Final Expense insurance is an insurance policy that helps beneficiaries with funeral costs and can include burial insurance. For insurance agents like yourself, these Final Expense Leads are just as valuable as Life Insurance Leads.
Final expense leads can be generated through many different facets including Social Media Campaigns, Call Center Leads, Direct Mail and more! Depending on the way you generate your lead will determine if you will drive increasing responses or if you end up without any leads. Real-time leads that you generate online or by phone have the best closing rate as you are able to speak with a consumer when they request information and not days or weeks after. Even though they still may need the insurance, the longer time after first contact and the less ability you have to generate responses from non-responsive consumers.
Why Leads Are Important
When it comes to leads and the importance of them, just imagine if you never had any leads, you would never make any sales! New Leads means new customers, which also promotes positive growth with good quality leads.
This is why leads are important to the selling process, not only do they help you generate more clientele and therefore more money, but they also allow you to make connections with customers that may not know they need you yet!
For insurance agents, the benefits of lead generation are obvious. But it’s important to understand the different types of Final Expense leads, so you can better understand how to use them.
Types of Final Expense Leads
As with all insurance leads, there are many different Final Expense lead types. These types are classified by lead source and carry with them different prices, response rates and so on. The lead types include:
- Direct mail
Direct mail leads are the go-to standard lead type for Final Expense. New agents especially tend to be more successful with direct mail Final Expense leads. However, you may want to diversify the sources of your lead portfolio.
Telemarketing leads are usually lower cost than direct mail leads, but can also be more difficult to work with if you aren’t an experienced telemarketer with call center capability. For example, you will have to comply with all Telephone Consumer Protection Act (TCPA) guidelines regarding the Do Not Contact (DNC) list, Avatar technology etc.
- Internet leads
This type of lead is generated through internet campaigns, such as those on social media. They can be a great low-cost option but also have their disadvantages. For example, Facebook final expense leads are filled relatively quickly (usually within a week) but can also contain outdated information.
What is the Best Type of Final Expense Lead for me?
The best type of final expense life insurance leads for your business mostly depends on what specifically you are looking for. For agents just beginning to sell final expense insurance, direct mail leads are often recommended to be the best place to start. They have the longest track record of success in the industry and there is no “do not mail” list to restrict your potential lead pool.
How do you generate final expense leads?
Final expense lead generation can be a frustrating process. Sometimes a direct mail piece produces more leads, but they turn out to be of a lower quality. And after all, what’s the point of having a surplus of leads if they aren’t high-quality leads?
The easiest way to quickly and efficiently get to quality final expense prospects is to buy leads from an established, trusted vendor. Different vendors will be able to supply you with direct mail, telemarketed, or Facebook final expense leads.
How much do final expense leads cost?
Final expense lead cost can vary from vendor to vendor. Leads may be priced by the thousand or at a fixed amount per lead. Good leads can be purchased anywhere from $10 – $20 but some providers offer more expensive leads that refine their filters, like Social Insurance Leads’ $29 final expense leads.
- Can I get free final expense leads?
Some final expense lead vendors will actually offer free leads in order to attract and retain new agents and their business. Be sure to check the terms and requirements of receiving these free leads.
How to Get the Most from Final Expense Insurance Leads
To really optimize your chosen type of final expense leads, you will need to do what agents do best: be adaptable! You will need to research all the final expense carriers in your market to find the best value for your potential clients. And if you are selling final expense insurance remotely, you will need to invest in, and learn everything you can about, the proper telesales technology.
- Tips For Closing More Final Expense Leads
Try using all of your carrier research to provide the potential client with at least three payment and benefit options in the sales meeting. This will help them get a better idea of what they need and what they’re willing to spend.
How SMA Can Help You
Senior Market Advisors is an FMO that can expedite your contracting process and help you to start selling the best products available immediately. Collaborating with Senior Market Advisors will provide you with exclusive lead generation from a successful and trustworthy lead source. We are the best final expense companies for agents and their lead needs.
Why our Exclusive Final Expense Leads are Different
When you partner with an FMO for final expense or Medicare, you want to know you are getting access to high quality leads and top-tier plans. Senior Market Advisors ensures this with a lead program that generates exclusive leads, and partnerships with these nationally trusted carriers:
Start selling final expense insurance
You might be interested but still be wondering “How do I start selling final expense insurance?” The first step is to get licensed to sell life insurance in the proper market. After that’s done, one of the easiest ways to get started is to sell final expense insurance from home using telesales tools and a solid sales outline that you’ve practiced and know by heart.
- Can you make money selling final expense insurance?
Final expense insurance is designed to cover expenses that occur when a person dies. Different components of Final Expense insurance include Burial insurance which covers specific funeral expenses, as well as general final expense insurance which provides funds for any number of estate expenses. Both types of policies provide funds upon death. Final expense insurance is a great way for consumers to protect their family from all of the different costs incurred from their death.
Ready for Final Expense Leads?
Once you’re all set to start selling, eContract with Senior Market Advisors and get access to the best final expense leads, products, and training. See the difference SMA can make in your business!