Aged Life Insurance Leads: What You Need to Know
Competition in the life insurance industry has increased as well, with thousands of agents competing for these highly qualified leads.
The good news is that many of these real-time leads won’t be closed immediately by those paying top dollar for them. Once the lead is generated, multiple agents will call or email the lead, overwhelming them to the point where they shut down or stop answering calls, leaving the first salespeople uninterested in pursuing the lead any further. After the first several days of receiving a real-time lead, these leads become aged and are resold in bulk for great discounts.
Because life insurance policies often need nurturing to close deals, your aged leads are still highly valuable but available at a fraction of the cost, which can greatly increase your ROI and boost your sales pipeline.
What Are Life Insurance Leads?
Because of the pandemic, more people are considering buying life insurance as a backup to help their families pay off debts and ongoing expenses, should the worst happen to them.
Life insurance leads are mostly generated online, through free life insurance quote websites like NerdWallet, QuickQuote, PolicyGenius, and other sites that ship these leads to multiple life insurance companies.
When filling out a life insurance quote request online, these websites typically acquire information such as:
- Height and weight
- Tobacco usage (if applicable)
- Overall health information
- Annual income
- Credit rating
- Bankruptcy, reposition, and other financial history (if applicable)
- Prescription drugs used (if applicable)
- Willingness to take a medical exam
Typically, these leads are pounced on immediately by insurance salespeople, often bombarding their leads to the point of uninterest. Luckily for you, these once real-time leads become aged, which can then be sold on the secondary market for a fraction of the cost, especially when purchased in bulk.
Why You Should Buy Life Insurance Leads
Lead generation is the first step in the sales process. If you have no leads, you have no business.
But before you consider buying exclusive, expensive real-time life insurance leads, consider purchasing aged, bulk leads instead to boost sales and increase ROI.
As we mentioned before, many of the real-time life insurance leads aren’t successful on their first attempt, which leaves undisciplined salespeople uninterested, no longer willing to nurture this lead to a sale.
When purchasing an aged lead, you’ve essentially given your lead some time to recuperate from their initial rushed sales attempts, so that when you talk to them, they may be more relaxed and willing to work with you.
Where to Buy Life Insurance Leads
Aged Lead Store offers millions of searchable, validated life insurance quote requests with more added weekly.
Our store is easily searchable, allowing you to narrow down leads by lead type, lead age, state, zip code, credit type, phone options, life insurance type, life insurance amount, and more.
Once your filters have been selected, get an instant count and delivery of your leads. All leads are downloaded in CSV format with phone(s), email(s), address, date of birth, job, etc., to easily integrate into your CRM.
Aged Lead Store boasts the largest agent searchable aged insurance lead database anywhere online and we’re adding about 2 million leads to it monthly.
Our leads go through our rigorous internal hygiene process, as well as other 3rd party lead validation and appending processes to ensure your incredible lead value.
We offer a 100% satisfaction guarantee to replace or refund any leads with wrong numbers, disconnects, or leads that don’t match the filters you selected.
What Kinds of Life Insurance Leads are Available to Buy?
Life insurance leads are often sold by different lead types, which is determined by the age of the lead. Aged Lead Store categorizes life insurance by their age:
- 15 to 45 days old
- 46 to 85 days old
- 86 to 365 days old
- 366 to 2000 days old
Many salespeople commonly choose to purchase 1,000 leads aged 86 days or older to start, as it offers a tremendous bulk value. However, if you’re new to insurance sales, you can start by purchasing 1 to 249 leads. Or if you work for a large enterprise, you might consider purchasing 25,000+ leads for our biggest bulk discount.
How Much Do Life Insurance Leads Cost?
Real-time, exclusive life insurance leads can be purchased online ranging anywhere from $20 to $50 per lead.
These expensive leads are often prohibitive for the beginner insurance salesperson, or for companies looking to purchase massive quantities of leads. In these instances, it’s preferable to purchase high-quality, pre-validated aged leads in bulk. These aged leads will provide a higher ROI than expensive, real-time 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 for 1 to 999 leads
Purchasing aged leads in bulk further reduces their cost, with the most drastic price reductions occurring when purchasing 5,000 to 25,000 leads at a time.
How to Sell to Life Insurance Leads
Selling to life insurance leads involves playing the numbers game, especially when dealing with bulk leads. We recommend you focus working on two factors to improve your sales: speed and efficiency.
Using a CRM is crucial, as it helps you keep notes on prospective customers, allows you to filter for key attributes, and integrates with auto-dialers to improve call speeds.
To improve efficiency, score your leads first by sorting information in your CRM. Filter your leads by age, income, zip code, or whichever lead scoring method helps you narrow down your call list.
The one thing you’re not going to find in life insurance lead quest forms, however, is the reason why your lead wants life insurance. Perhaps your lead just got married, had a baby, or experienced a sudden death in the family. This is why it’s important to ask these specific questions during your first interaction. If your lead experienced one of these life-changing situations, you’re more likely to close.
Remember, most life insurance leads generally don’t close upon the first contact. They require nurturing, in the form of phone calls, follow up emails, and face-to-face appointments or video conferencing. But if you’re persistent enough and trustworthy, ultimately you will make the sale.
If you’re looking for a more in-depth guide on selling to your life insurance leads, read our blog post How to Sell Life Insurance: The Advice They’re Not Telling You.