NEWMANINSURANCE
Expert
- 36
Make a list of the folks that said that they already have life insurance and drop by. Pure gold.
I like it. Thanks for the tip!
Direct Mail Final Expense Leads
- Thread starter samc
- Start date
I like it. Thanks for the tip!- Thread starter
- #12
Make a list of the folks that said that they already have life insurance and drop by. Pure gold.
Would you mind expanding on that, thanks.
- - - - - - - - - - - - - - - - - -
I buy the leads from the IMO they said the list is 50 to 80yrs of age and the income is from $20,000 to $100,000
- - - - - - - - - - - - - - - - - -
My IMO did the mailing. The lead card is not bad it has the word life insurance on it. It talks about the social security benefit of $255
Last edited:
- 5,304
It's the list.
What 65-80 year old making $50k+ would need a burial policy?
We did a drop in an affluent town and the return and quality of leads were poor. Income cap was probably around $50k or so and we still got massive houses sending the card back.
More recently we did a drop on a working class manufacturing town and the return/ROI was great.
That's what I mean about getting the right list.
Watch my video on final expense direct mail leads here for more information.
What 65-80 year old making $50k+ would need a burial policy?
We did a drop in an affluent town and the return and quality of leads were poor. Income cap was probably around $50k or so and we still got massive houses sending the card back.
More recently we did a drop on a working class manufacturing town and the return/ROI was great.
That's what I mean about getting the right list.
Watch my video on final expense direct mail leads here for more information.
Last edited:
I have a question regarding income parameters in regards to the lists for the leads agents are purchasing. Where do these lists come from and how accurate are they in regards to income?
I worked in the mortgage and car business for 35 years and am very familiar with credit reports but they have never been even remotely accurate regarding income. Most of the time they don't even report the most recent job for the applicant. where do these lists come from and how accurate are they?
I worked in the mortgage and car business for 35 years and am very familiar with credit reports but they have never been even remotely accurate regarding income. Most of the time they don't even report the most recent job for the applicant. where do these lists come from and how accurate are they?
- 11,997
Great questions.
The way these incomes are sourced is that they are aggregated from all sorts of things like surveys and the like. Generally, they're accurate enough, but far from perfect. Home values are fairly accurate because they are sourced from publicly available records, but data compilers can't look through tax returns to get income.
In my experience, income filters are around 80%-85% accurate, but I've seen it go much worse depending on the list.
Does that help?
Yes and no! I dont doubt your numbers as I have no expertise in these lists at all. I guess when your selling FE income is not an issue anyway. People all the time living on $635 a month buy $75 a month policies.
Are you suggesting if i wanted a list of the people living in the Battle CReek area making between $35K and 65K the list would be fairly accurate? Would 75% of the names likely have an income in that range?
Are you suggesting if i wanted a list of the people living in the Battle CReek area making between $35K and 65K the list would be fairly accurate? Would 75% of the names likely have an income in that range?
- 7,066
I think it is an issue.
The agent may be able to sell it and the prospect may buy it but how long do you think the new client will keep it? That's 12% of their income.
- 11,997
It is and it isn't. Judging from what I know of you I think it's clear that you do know what you're talking about when it comes to FE along with how to sell it and why to sell it. Although you can sell lower income folks FE, it's nice if they do have a few bucks.
I'm not familiar enough with Battle Creek, but if that's an area where you'd expect to find folks with that type of income, it'd probably be right. What I typically do is pick the counties I want and if there is a particularly bad zip code or two that I know I'm just going to be hitting my head against the wall on, I'd carve out the bad zip codes. The same thing works in reverse, if I'm going to be marketing LTC and annuities and I know all the wealthy folks live in a particular area, I'd target those zip codes along with home values (if it's an area where just about everyone owns a house).
- 198
- 11,997
I was speaking with the powers that be today and allegedly even though they haven't updated the appraisals lately, what they've done is used a multiplier to estimate based on old values. i.e., estimate that a home in Arlington, VA is probably worth 80% of what it was before (I'm just picking numbers, they have more science behind it). So if you had a guy with a house worth 500k 3 years ago, they're going to multiply it by what they think makes sense for the area and use that as a value. That being said, some areas have been updating their tax assessments and if that's available electronically a lot of times the powers that be will use that which helps. The values can definitely be off, but not by any drastic amount.
Similar threads
