Paying for leads

Thanks for your response. I understand they are captive and won't allow you to sell any other FE product. This may be o.k. if their lead program works. Do you know anyone that works with Lincoln?
 
Stay away from LH I know of more than one agent who's written quite a bit of business with them and because they didn't meet their quota one month terminated them and all their contracts. I'm sure the contracts went to the district manager so i'm sure he was happy!!
 
Good information. I am starting to sell Final Expense Ins. and have a question about who you would recommend for lead generation. What should be the close ratio on this type of insurance lead. I am considering using Monumental Ins. to start for FE leads. Is this a good source. I plan to use their FE product.

There is a Monumental direct mail program that is $330 per 1,000 that has been around a while. Reviews have been just OK on this one mainly due to lower response rates.

We actually just rolled out some new lead sources that are exclusive to Monumental and Mutual of Omaha.

We have a newer one at $370 per 1,000 or you can buy set price leads at $29.75 and they are mailed to ages 60-85, incomes $15,000 to $50,000 and PO boxes are screened out. That's as good as it gets in my opinion.

Telemarketer leads are $20 each and aged leads are $2.33 each.

Other tried and true lead sources are the Lead Connection and Main Street Powermail. Both have provided great leads for many years and can be used with any company.

Our agency recommends that agents have a handful of companies and we teach you when to use each based on health factors, age, smoking status, etc.
 
Thanks for your response. I understand they are captive and won't allow you to sell any other FE product. This may be o.k. if their lead program works. Do you know anyone that works with Lincoln?

I honestly dont know, Ive never written final expense myself.
 
Thanks for your response. I understand they are captive and won't allow you to sell any other FE product. This may be o.k. if their lead program works. Do you know anyone that works with Lincoln?

Lincoln has the same problems that come with selling only one company to everyone. They are only a decent fit for a few but you have to try to squeeze square pegs into round holes.

Every consumer when they decide to buy life insurance to cover final expenses is trying to figure out where to get the best value for the money they pay. A well trained independent agent can help them find it.

An agent selling only Lincoln Heritage has no chance of competing in this arena. So what they try to do is throw in a membership to a Funeral Guardian gimmick to get people's mind off the price.

The problem is most people wouldn't pay the extra for the Funeral gimmick once they find out They have a choice. Even if they really did want it, they could buy it for less money along with a more competitively priced company.

The leads through Lincoln are OK but nothing special and priced high. They encourage new agents to finance them through the company which gets you indebted to them. Many Lincoln agents who figure out they would rather go independent find out they owe the company a lot of money due to financing leads and rolled up charge backs. The borrower is slave to the lender.

Do your research before you sign up with anyone. Don't finance leads through your insurance company or upline. Save up money for your first Months leads before you start. Then cash flow them from your sales.

If you can't afford leads to start out...DON'T start out. You will be broker than you ever dreamed if you do this the wrong way.
 
Thanks for your response. I understand they are captive and won't allow you to sell any other FE product. This may be o.k. if their lead program works. Do you know anyone that works with Lincoln?


Their lead program works as well as any other lead program for a captive company.

The problem is not the leads, it's being captive and not being able to offer the proper products.

If you can't pay for lead drops up front and wait for weeks for them to come back in then you probably do need to be with a company that has a lead program. By company I mean an IMO, not an insurance company.

An IMO that has a lead program but that has multiple companies for you write.

EFES, Securus, NASB, PHR, etc. Also you want that IMO to provide training.

Tuition is expensive. More expensive with some than others. Any IMO that has a lead program and training but offers less than 85% contracts to start is to be avoided. A contract less than that makes the tuition too high.

If you decide on an IMO then talk to agents that are with that IMO or have been. Do not listen to one sentence from a marketer for that IMO. It's the same rah-rah BS from every single one of them.

If you think you are talking to someone that has a clue then ask them how much personal production they write. If they stammer and stutter then end the conversation.

You will get tons of advice from people that can't sell. You have to know what to do with that advice.
 
Guest,
You will always pay for your marketing. Even if you are cold door knocking, that time cost money. Final expense is a marketing business. Your success will depend on your ability to close sales. Try to find a good mentor to teach you the business, go on sales call's, help you fine tune your presentation. If you take these steps you will be successfull

This will help you turn your marketing $$ into $$$$$$.
 
Guest,
You will always pay for your marketing. Even if you are cold door knocking, that time cost money. Final expense is a marketing business. Your success will depend on your ability to close sales. Try to find a good mentor to teach you the business, go on sales call's, help you fine tune your presentation. If you take these steps you will be successfull

This will help you turn your marketing $$ into $$$$$$.


The reason his name says guest is because he is not a member any longer.
 
Putting on an old hat here...
For some agents, it pays to buy leads. Calculating simply, using individual health, if you make $600 average commission on individual health, and pay $6 per lead for leads, you need to have a 1% conversion ratio (1 out of 100) to break even.

Of course, you have expenses... First year, there are carrier appointment fees. Software. A web site. Training. Telephone equipment and office expenses (all depending on how deep you go with it).

It's not just leads, or their quality that determine success. I believe that success is a combination of the right marketing (which generates leads, or can include retail leads as one component), sales process/skills, technology, and products/carrier relationships. Leads by themselves are only one component. You might have the best leads in the world, and you could kill it with bad tech, the wrong products to offer, or a bad sales process that turns off the customer. Conversely, you could have some fairly poor quality leads yet through timely and consistent follow-up, solid tech, and the right products/carrriers, you still could make it work.

The main thing is, don't believe that the WHOLE THING is just about LEADS. It ain't that simple.

With leads, and I have bought thousands in a former life, I recommend that you compare and contrast. Demand flexibility, and let yourself change your mind as quality goes up and down for each lead vendor. Sometimes a lead vendor that is good for awhile gets bad for a little bit, and sometimes the ones you thought were bad get a clue and fight hard to get back in the mix with some surprising quality. Lots of buttons they have to press if they feel it's necessary... and lots of ways they can "cut" things a little bit if they feel the need. MOST lead companies are scrupulous... stick to the leaders and research - listen to agents such as the ones on this forum for recommendations.

If you shoot me a private email on this forum, I can share a spreadsheet model you might find useful to balance the components of a good remote health insurance agents.

OR, if you want to know some good questions to ask a retail lead vendor, let me know that too.

- Mark from Quotit.
Hi I am interested in this as well.
Jack
 
Mark from Quotit...you are 100% Correct!

I could not have said it better myself. Thank you for posting this. I'd also say, please share your questions to ask a retail lead vendor!
 
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