FE lead source

[Newby]

what kind of results are you seeing if you mail out 1K? Do you use forethought as your only f.e. carrier?

I've explained quite often on here that the majority of my sales are from funeral preplanning which is a different division and different product with Forethought. I market for specific funeral homes which increases response rates a lot.

When I sell final expense (non-funeral home specific) it is usually just from appointments where they can't afford to preplan with the funeral home.

Funeral preplanning insurance is basically an increasing benefit final expense policy and is paid in full usually within 3-years. It's more common for the families who do funeral preplanning to pay annually than monthly.

As a rule, wealthier families do a funeral preplan and lower income families do final expense. Middle class can go either way and usually do both. Many families that I sell funeral preplans to already have final expense policies which they just make their kids the bennys on after their funeral expenses are prepaid.

As far as just a straight final expense mailer with no funeral home on it, I have only done two and they flopped. I did full color newspaper inserts with tear off reply cards and ran it twice at 12,000 inserts X 2 and only got about 10-replies total. They were good replies but it did little more than cover my time and expense.

For the knowledge you're looking for: do a search for posts by HoosierDaddy (Travis) and he is very experienced with marketing straight final expense. In fact, I'm ordering a run of his style of mailers today. I'm very experienced with funeral preplanning but with everything else I'm still learning (hence the name Newby.)

 

[allhealthandlife]

All my FE sales are from cross selling from MA or Med Supp and i use Oxford , Monumental for those on disability and fluffy body types and for those with one foot in the grave i use Presidential.

So just by being disciplined and giving a FE expense quote to every MA/Med Supp prospect i meet with whether i think they are likely to buy or not i manage to sell about 2 policies a week but i don't do so well with client that says they don't need it because the are going to be cremated.

What rebuttal and product would you use for this prospect assuming they haven't prepaid for it yet ? I know that they are good prospects for some type of FE plan because they are telling you that they are doing some type of planning.

 

[Newby]

All my FE sales are from cross selling from MA or Med Supp and i use Oxford , Monumental for those on disability and fluffy body types and for those with one foot in the grave i use Presidential.

So just by being disciplined and giving a FE expense quote to every MA/Med Supp prospect i meet with whether i think they are likely to buy or not i manage to sell about 2 policies a week but i don't do so well with client that says they don't need it because the are going to be cremated.

What rebuttal and product would you use for this prospect assuming they haven't prepaid for it yet ? I know that they are good prospects for some type of FE plan because they are telling you that they are doing some type of planning.

Several things come into play. First of all, final expense insurance isn't just for funerals although it is often used for that. It's also a way to leave money to kids and grandkids or a charity. It can settle debts so the kids inherit things that are free and clear. Different people have many different reasons for it.

Secondly, cremation isn't always as cheap as you think. About half the people who are cremated (at least in the mid-west) have a funeral first. They are just cremated afterwards instead of buried in a cemetery. The price is about the same as any other funeral but they eliminate the need for cemetery spaces, burial vault, headstone etc.

Things to ask are:
1. Are you going to have a funeral before the cremation? Are you going to have a memorial service? Where?
2. What is your family going to do with the cremains? (most still do cemetery burials or mausoleum emtombments)
3. Do you have any debts that will use up the assets in your estate settlement?
4. Would you like to leave a charitable gift?
5. How important is it that you leave an inheritance to your children? Grandkids?
6. Will your spouse benefit from the policy when they lose your social security income? What changes will they need to do to adjust to less household income?

 

[allhealthandlife]

Great information ! Thanks.

 

[HoosierDaddy]

Several things come into play. First of all, final expense insurance isn't just for funerals although it is often used for that. It's also a way to leave money to kids and grandkids or a charity. It can settle debts so the kids inherit things that are free and clear. Different people have many different reasons for it.

Secondly, cremation isn't always as cheap as you think. About half the people who are cremated (at least in the mid-west) have a funeral first. They are just cremated afterwards instead of buried in a cemetery. The price is about the same as any other funeral but they eliminate the need for cemetery spaces, burial vault, headstone etc.

Things to ask are:
1. Are you going to have a funeral before the cremation? Are you going to have a memorial service? Where?
2. What is your family going to do with the cremains? (most still do cemetery burials or mausoleum emtombments)
3. Do you have any debts that will use up the assets in your estate settlement?
4. Would you like to leave a charitable gift?
5. How important is it that you leave an inheritance to your children? Grandkids?
6. Will your spouse benefit from the policy when they lose your social security income? What changes will they need to do to adjust to less household income?

These types of post are the reason I check this message board. Another great post Newby. These are the kind of things agents should learn, and work into their own presentation to become more successful. That is good information for agents in the FE market. That will help a lot of folks out. It is nice of you to take the time and make such a good educational post...

However, I usually say... "Hey Grandma you want some death insurance" that always works for me...

 

[Newby]

Keep in mind, people who say they don't need life insurance because they are going to be cremated are USUALLY just blowing you off just like the ones who say "I'm never going to die" "They can just throw me in a burlap sack behind the levy" and the ever popular "I don't care what happens, I'll be dead."

These are just smoke-screen objections, not the TRUE objection. The true objection MAY be that they don't trust you yet. Or they don't see the need for life insurance. Or they're afraid of making a mistake.

It's easier to say "I don't need it because I'm going to be cremated" than it is to say "I don't like you."

You have to work through the smoke and do a little more fact finding.

 

[GIRLINBIZ]

Walleyeb, are you planning on purchasing your leads yourself? Are you wanting a wholesaler to buy your leads for you and then you purchase them from them? If you can do it yourself check out this site. Direct Marketing | Final Expense Leads | Medicare Supplement Leads | Phone Lists and Mailings they will do fe, med supps, mortgage protection.

Have you ever used their Medicare Supplement Leads?

 

[mswebb06]

I have never used their med supp cards. I do believe SeniorAdvisorIndiana uses a certain company for his Medsupp leads I am sure he could help you out.

 

[senior-advisor-indiana]

I have used Lead Concepts for Med supps. I have not ordered any in a long time though. I have been working old leads and referrals. I might order some in a month or 2. Last time I mailed for meds supps was during "lock in" last year. About every lead I got back, the people had PFFS plans and I could do nothing with them.

 

[allhealthandlife]

However, I usually say... "Hey Grandma you want some death insurance" that always works for me...[/quote]


I like that pitch.If granny balks at the price i usually overcome that objection by saying " well i understand your concern about cost of the premium but look at that positive side of it - at your age you won't have to worry about paying premiums for to much longer "