With a growing number of the baby boomer generation reaching retirement age, the number of final expense insurance leads is on the rise. Along with this, some consumers do not realize they need this type of insurance until an experienced agent educates them on the benefits and advantages.
As senior insurance lines continue to grow in popularity, the number of insurance lead companies offering FE leads is also on the rise. There are several services currently offering final expense leads as a predefined category, as opposed to requiring agents to use filters. Options range from direct mail, telemarketing to online lead generation. You can opt to try and generate these leads yourself but the costs are heavy up front with no guarantees on conversion.
While I don’t sell a lot of FE myself but I do have a lot of colleagues that do. Many of them use filters with online life insurance leads to pinpoint consumers who are interested in final expense insurance. This is done by filtering leads by age and policy size. Typically, those in the market for final expense insurance are older consumers interested in a small policy ranging from $10k to $25k.
Marketing techniques such as direct mail and cold calling can be but it can be very time consuming and expensive (direct mail) if done improperly. I would suggest working with a mentor for new agents wishing to take this approach. Fortunately, purchasing leads online allows agents to control their marketing efforts to ensure that they are only targeting interested buyers.