Before final expense insurance agencies can convert new prospects into clients, they must develop an effective strategy on how to generate final expense leads. One of the latest strategies to emerge for agencies involves purchasing inbound calls that produce high-quality call traffic from professional lead generation companies. With final expense insurance often being a product older consumers tend to buy, it’s important to reach the right demographic when looking for leads in this industry. Inbound calls are great at generating quality final expense leads since each call can be screened to ensure the caller meets the demographics, including age, location, and income level, the agency wants to target. These high-intent consumers are much more likely to be converted into a sale since they are actively looking for final expense insurance, allowing the agency to capitalize on the demand.
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Why Is Final Expense Insurance Important?
Dealing with the death of a loved one is difficult enough without having to endure all the funeral and burial expenses that can come with it. Policyholders gain peace of mind knowing their end-of-life expenses are taken care of, reducing stress for themselves and their loved ones. Compared to traditional life insurance, final expense policies are often more affordable and accessible, especially for seniors or those with health issues. The policies provide a crucial financial safety net for families, ensuring they don’t face the burden of funeral and burial costs during an already difficult time. More and more people are starting to recognize this importance, with the market size for final expense insurance expected to grow from $148.77 billion in 2023 to $257.54 billion by 2030, according to Verified Market Research. Quality final expense leads are valuable in the insurance industry as they represent a specific demographic with a clear need for this type of coverage.
What Is a Final Expense Lead?
Final expense leads involve potential consumers looking to purchase insurance policies covering funeral and burial costs after a death. They are typically around 50 to 80 years old and have expressed interest in final expense insurance. These leads for final expense insurance are usually seniors concerned about leaving their families with funeral costs or other end-of-life expenses, so they may have limited savings or existing life insurance.
How Can Agents Generate Leads for Final Expense?
Final expense insurance agencies can use many methods to generate leads. However, the niche type of insurance policy lends itself to specific consumers, which inbound call marketing is perfectly suited for. Partnering with specialized lead generation companies that create targeted campaigns for these consumers to help the agency increase its reach. The key to success in buying inbound calls is selecting the right lead provider and specifying the desired lead characteristics. Agencies can set criteria for potential consumers, such as age range, geographic location, and income level.
How Much Do Final Expense Leads Cost?
When looking to buy final expense leads, there are many factors that will determine the overall cost. Agencies may opt for exclusive leads, where each lead is sold to only one company, or shared leads, which are less expensive but also harder to convert. The cost per lead varies based on these factors, but agencies should aim for quality over quantity to maximize their return on investment.
Higher-quality leads for exclusive live transfer calls typically average between $80 and $200, while a shared lead will generally cost between $5 and $20. Leads generated through traditional methods like direct mail or telemarketing lists may have lower costs but will be more difficult to convert. Buying in bulk may also reduce the per-lead cost, and lead prices can vary by region or state due to market competition and demographics.
Ready to expand your business?
BrokerCalls™ offers highly qualified inbound calls and phone leads. Reach out and get started today.
Let’s Talk
Partner With BrokerCalls™ on How to Generate Final Expense Leads
Working with a well-established lead provider like BrokerCalls™ is a great way for agencies to improve their strategies on how to generate final expense leads. The rise in popularity for final expense insurance has also increased the need for agencies to find reliable lead source partners. BrokerCalls™ is a proven lead generation business with years of industry experience in the final expense insurance industry. Investing in quality leads is easy with BrokerCalls™, as we only buy and sell high-quality insurance leads to our partners to ensure they optimize their sales. Please call us at 855-268-3773 today or visit us on Facebook, LinkedIn, X, or Instagram to learn more about how a partnership with BrokerCalls™ can be mutually beneficial.
