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Also spoke w lead connection today and they said for $525 I could do an 1,000 piece mailer. In my area, they said average return is 1%-1.5%. Not horrible.
If you do get 10 to 15 cards back I'd be happy for you but also surprised.
I've done the Walmart gift card in the past and I did not see an appreciable difference in the return of responders.
I did, however, cold knock the non-responders to whom I mailed the card in addition to those few who did respond (I was getting 5 to 8 responders/1000 last time I mailed. If you are comfortable knocking the neighbors on your mailing list who didn't respond in addition to those who did respond, you can bring your lead cost down a great deal, as every name on the list becomes a lead, and you will get in some doors and sell some policies.