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Final Expense Leads: Everything You Need to Know

By Troy Wilson
Final Expense Leads: Everything You Need to Know Feature Image
6 minute read

In these uncertain times, more people are planning ahead and looking for a proper life insurance policy to fit their needs. 

The pandemic has caused many insurance companies to become more risk-averse, making them more willing to decline life insurance policies for those who are at a higher risk of mortality. 

Luckily for those looking for benefits, there’s final expense insurance. Final expense insurance covers medical bills and funeral expenses when the insured person dies, and is guarantee-issued, meaning no medical examination is required for coverage. 

Currently insurance sales leads take longer to close, which means aged final expense leads are more promising. There’s a higher likelihood that your lead hasn’t settled on a policy yet.

For businesses unable to afford expensive exclusive leads, purchasing aged final expense leads in bulk is an affordable way to generate leads to add to your sales pipeline.

What Are Final Expense Leads?

A final expense customer is anyone who wants to proactively find an affordable way to take care of their burial expense and avoid hardship for their family.

Final expense leads are primarily driven by direct mail campaigns through Business Reply Mail. These are the pre-paid envelopes that come attached to letters or postcards. 

Direct mail pieces usually offer free quotes and tend to collect more generalized information such as name, age, address, email, and spouse’s name and address.

The target demographic of people 55 to 75 years old tend to be more responsive to direct mail campaigns over cold emails or phone calls. Over 90% of direct mail is opened, compared to 20 to 30% of emails opened.

Other leads are generated through online landing pages or door-to-door sales people, which usually ask more specific questions such as:

  • State where located
  • Gender
  • Date of Birth
  • Use of tobacco products
  • Overall Health
  • If the purchase is replacing an existing policy

As these leads are collected, they are sold for a premium price because they are “real-time leads,” meaning they’re only about 24 to 48 hours old. However, many leads generated from marketing agencies go unsold and sit untouched for more than 30 days. At this point, these leads have become aged, and they are sold at a deep discount, which is great for boosting call lists and gaining more business.

Why You Should Buy Final Expense

Even though direct mail campaigns are the best source for generating leads, they still have about a 2% response rate. This means you’ll likely have to mail thousands of mailers each month to get results, and that can be costly, as you’d imagine.

Other companies buy Google keywords to send prospective buyers to landing pages to collect information, but as we’d discussed before, our market tends to be older people who still rely on physical mail and are more weary of submitting personal information online. 

You’re better off purchasing aged final expense leads in bulk for a relatively low price. Save yourself the hassle of dealing with a mailing house and wasted time waiting for leads. Start selling today with your aged leads list.

Where to Buy Final Expense Leads

Aged Lead Store offers an easily searchable, validated Life Insurance and Final Expense Leads resource to allow salespeople to filter leads by lead type, state, ZIP code, and landline or cell phones. 

All leads are downloaded in CSV format and include phone number(s), email(s), postal address, and other information such as date of birth, car, info, etc., depending on the lead type. 

Once salespeople download their CSV, this information can easily be integrated into CRMs to start the sales funnel.

What Kinds of Final Expense Leads are Available to Buy?

Final expense leads are often sold by different lead types, which is determined by the age of the lead. Aged Lead Store categorizes life insurance and final expense leads by their age: 

  • 15 to 45 days old
  • 46 to 85 days old
  • 86 to 365 days old
  • 366 to 2000 days old (landlines only)

Leads are purchased in bulk, ranging from 1 to 249 leads for individual sales people, up to 25,000+ for large companies (or highly ambitious sales people!).

How Much Do Final Expense Leads Cost?

Final expense leads can be purchased online ranging anywhere from $6 to $15 per exclusive lead. 

For those who are just getting their toes wet in final expense insurance sales, spending this much money per lead is unaffordable and not recommended. It’s better to purchase aged leads in bulk to start your sales process before deciding to buy the more premium “exclusive” leads.

Aged Lead Store offers affordable pricing for purchasing bulk aged final expense leads:

  • $2.00 per lead 15 to 45 days old for 1 to 249 leads
    • $1.50 each when you buy 250 to 999 leads
  • $1.50 per lead 45 to 86 days old for 1 to 999 leads
    • $1.25 each for 250 to 999 leads
  • $0.40 per lead 86 to 365 days old for 1 to 999 leads
  • $0.25 per lead 366 to 2000 days old (with landline) for 1 to 999 leads

For those purchasing 5,000 to 25,000 leads at a time, the price per lead is drastically reduced.

How to Sell to Final Expense Leads

Selling final expense insurance is less complicated than other forms of insurance, as it’s needed only to pay funeral expenses and medical bills, and doesn’t require a medical examination. 

Closing final expense leads over the phone used to be rare over a decade ago, but now things have changed. It used to be that prospective buyers would only buy if they could meet you face-to-face to develop a rapport and read through the paperwork in your office, but that’s no longer the case.

While many still prefer to do business the old school way, more baby boomers are tech savvy and comfortable making major deals over the phone. With pandemic shutdowns closing offices, it’s likely more business will be done through phone or video conferencing tools like Skype or Zoom.

The average cost of a funeral is between $7,000 to $10,000, which for low-to-medium income families isn’t affordable, especially if a death is unexpected. But luckily for your buyers, getting approved for final expense insurance is quick, easy, and guaranteed as long as they make their monthly payments.

You, as the sales person, are there to offer your buyers and their families peace of mind that their family won’t go into debt after their passing.

For more information on selling aged final expense leads, visit our guide Aged Final Expense Leads – How to Be a Successful Agent.

Photo by Tiago Muraro on Unsplash

About Troy Wilson

Troy is the CEO and founder of Aged Lead Store. He has been in the lead generation industry for over two decades. His blog posts focus on how to refine your sales process and get the most out of your insurance leads, mortgage leads, and solar leads.

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