What Are the Most Ideal Demographics for Final Expense

[brkrsrevolution]

When you are selling final expense, who is the buyer, what are the demographics to the average person who buys a final expense policy?

Male / Female
Age
Single, Married, Divorced, Widowed
Race
Income Level
Homeowner/Renter
Internet User / or Not
Grandparent or Not
City, Suburbs, Country


Why do they buy the policy?
Funeral Expenses
Legacy
Other

What is the average premium?

Where did the lead come from?
Purchased telemarketed lead
self generated telemarketed
Direct Mail
referral
internet lead
door knocking
t65 list

Thanks for your input!

 

[WinoBlues]

If anyone answers this I would be interested in the State. and zip code. I have to think some of these will depend if the agent is working the back road hollers, high rise tenements, San Jose, CA or Newark, New Jersey. Median income in San Jose is probably pushing $80,000.00 and average home north of $500,000.00

Is there an average FE market for the nation?

 

[Mick_Keyou]

Great question and topic. As a new agent I have wondered many of the same questions.

 

[digfesales105]

Female
56-65
Single and widowed(males a lot are widower's a lot)
Race...tough to say. Depends where you're working.
Social Security monthly income $800-$1200
No internet
Grandparent
Depends where you're working but typically the lower income areas.

Tough for them to find coverage or adding a little to what they have. Mostly for funeral expense's. Next for Grandkids.

National average: $45-$50 p/ month

#1 source mostly would be direct mail.
#2 would be a type of telemarketed lead
#3 would be cold calling off a list

 

[HoosierLife]

Bam! #3 for the win lol. Ive got 11 cold prospects in 5 hours of dial time (not counting the first 5 hours of fine tuning lol). So not a huge # for comparison, but 10 out of 11 were women. And I really sold the appt to get the 1 guy.

Thanks for all the help Matt!!

 

[reallife]

Female
56-65
Single and widowed(males a lot are widower's a lot)
Race...tough to say. Depends where you're working.
Social Security monthly income $800-$1200
No internet
Grandparent
Depends where you're working but typically the lower income areas.

Tough for them to find coverage or adding a little to what they have. Mostly for funeral expense's. Next for Grandkids.

National average: $45-$50 p/ month

#1 source mostly would be direct mail.
#2 would be a type of telemarketed lead
#3 would be cold calling off a list

I love how you seem so focused and passionate about leads.

For someone starting out cold (me) your posts over the last few days have been compelling reading.

Sincerely

 

[digfesales105]

I love how you seem so focused and passionate about leads.

For someone starting out cold (me) your posts over the last few days have been compelling reading.

Sincerely

Thanks! I'm try'n. But as the saying goes...an agent without leads(whether cold calling or what have you)...is out of business! An agent with QUALIFIED leads...is a stud!(or stud-ette)

 

[pcbinsurance]

"Ive got 11 cold prospects in 5 hours of dial time"
***************************************
Hey! They aren't cold prospects anymore! Good job!

 

[HoosierLife]

"Ive got 11 cold prospects in 5 hours of dial time"
***************************************
Hey! They aren't cold prospects anymore! Good job!

Thanks! Yep your right, I'm up to 15 now!

 

[NewInsuranceLady]

HoosierLife, you are cold calling and got 15 prospects? I just went to your website. Can I email you? I have some questions! (I can't PM yet, not enough postings, I'm working on it though).