Imagine a man who has the good fortune to live to age 80 with financial security. His children are grown and financially stable. His living expenses and care is provided for by years of smart investments. The term life insurance policies he once owned are no longer in effect, but that’s ok because he only purchased them to provide for his family during his peak earning years. Everything is set, except one thing– who will pay for his final expenses? Will his estate have the cash on hand to pay for $30,000 (or more) in expenses? Will one of his children put all of his funeral costs on a credit card? Final expense insurance was designed to cover this gap and minimize the financial burdens of death.
Final expense insurance (which includes burial insurance), is a fairly straightforward policy written to cover expenses that arise at death. Burial insurance covers specific expenses, whereas final expense insurance provides general funds for any number of estate expenses. Both types of policies are designed to provide funds as quickly as possible upon death. Coverage tends to be under $100,000, and in most cases can be written without a medical exam. Final expense insurance is a cost-effective way for consumers to protect their family from the stress of expected expenses.
Whether consumers are facing a terminal illness or want to gain coverage beyond their term life policy, many will search the Web for information about final expense insurance, and use services like All Web Leads to help them request quotes. All Web Leads collects basic contact information, demographic details, and the amount of insurance the consumer wants, and immediately forwards the final expense insurance lead to qualified sales agents.
Which agent(s) receives the leads depends on the agents’ filter criteria. Agents can opt to receive all leads, or only leads matching from consumers matching factors such as:
- Coverage amounts
For busy agents, final expense / burial insurance leads can be an invaluable source of new business because they can speak with consumers precisely at the moment the consumer is thinking about and ready to buy final expense insurance. This frees up agents to spend more time working with clients, and less time on hit or miss lead generation tactics.
Not All Final Expense Insurance Leads are Created Equally
The price of final expense insurance leads varies from provider to provider, but don’t buy based on price alone. A quality lead can range from $20 to $25+ depending on the number of filters applied.
Some companies advertise cheaper final expense insurance leads, but these may not be a good value. For example, some providers offer consumers incentives submit leads via contests and giveaways, while others use direct mail or auto-dialers to troll for leads. While the consumer may have expressed some interest, since the consumer did not initiate the conversation via a web search so the lead is of much lower quality.
Lead timeliness also varies. Since time is of the essence in sales, leads that are delayed by even by a few hours are worth much less than real-time leads. Final expense insurance is fairly straightforward product that can generally be sold over the phone. Getting to the consumer too late very likely means missing the sale.
Final expense leads generated via direct mail often have a very poor response rate because several days, or even weeks may pass between when the consumer responds and when an agent has an opportunity to contact them. Compare that to real-time leads: you may be able to speak with a consumer within minutes of when they request information, and their reasons for needing final expense insurance are still fresh in their mind. Today’s consumer expects an instant response, and if you can provide it, you’ll have an edge over others who cannot.
How to Get the Most from Final Expense Insurance Leads
Smart agents know that buying final expense leads is an investment, and they work hard to maximize their return. Since final expense insurance typically offers lower coverage amounts, consumers may get a quote and decide to buy burial insurance the same day. In a perfect world, you could respond to consumers within minutes of their inquiry. This may require cc’ing leads to your cell phone via text message.
You will see many offers for free leads, so it’s always worth the effort to learn more before signing on the dotted line. Any “free” leads that require an upfront deposit or fee are, by definition, not “free.” If the agent is not satisfied with the service, even if they were not charged for some leads, they may not be able to get their deposit back. The same is true for returns; any company that does not offer returns for invalid leads should be viewed with a good measure of skepticism.
On the other hand, some free lead programs offer genuine incentives to join a legitimate program. For example, All Web Leads offers one free lead for every purchased lead, up to a certain spending limit. Not only do you get two leads for the price of one, but you also get the opportunity to test drive the system and refine your strategy with less initial investment.
There is no doubt that final expense insurance leads are well worth the money, but lead generation methods matter. Look for programs that drive leads from web search, send leads in real-time, provide the ability to filter based on multiple criteria, and offer a trial program that truly provides a real benefit.
Ready for Exclusive Final Expense Leads?
FEQuotes.com offers quality final expense leads with free geographic filters, and an easy and fair return policy. Sign up to start your lead flow.