Your sales strategy work never takes a break when it comes to life insurance leads. Now a new national life insurance program could be your new edge to connect with aged life insurance leads through cold calling, web marketing, or even direct mail. Here’s how.
Program Helps Families Find Owed Insurance Benefits
The National Association of Insurance Commissioners (NAIC) Lost Life Policy Locator is a brand new online database that helps family members find out:
- If a recently deceased family member had an unknown life insurance policy or annuity contract.
- If a family member of the deceased is listed as a beneficiary or is authorized to receive information.
The NAIC program just launched at the end of November. It’s based on a pilot program launched at the state level in Oklahoma in 2015. That program was so successful, it quickly spread to the federal level. Oklahoma news outlet KFOR.com explains:
“I think one of the biggest problems we run into is [families] have a loved one pass away and they don’t even know they had a life insurance policy,” said [Oklahoma] Deputy Insurance Commissioner Buddy Combs.
The Oklahoma Insurance Department wants to help Oklahoma families get the money they deserve.
In the past year and a half, 828 families have used the state’s life insurance policy locator service.
The department found 42 lost policies and recovered $600,000 for Oklahomans.
Combs recalled one policy worth $150,000 for a man who didn’t know it was out there.
“That’s money that was owed to him, and now he’s got it,” Combs said.
The NAIC database is now online.
“Expanding the database nationwide allows people in all the states to be able to contact insurance companies around the country to be able to get the money they are owed,” Combs said.
For Oklahoma families, that means more ways to get the money you deserve.
The news piece goes on to say it was an easy fix for state and federal authorities to set up the searchable database, and the benefit to Oklahomans, and now Americans, is also obvious. Money owed to beneficiaries can now be easily discovered and claimed.
Program Presents a Great Sales Opportunity for Agents
For agents, this programs and others like it are a great opener for aged leads. Everyone likes free money programs, everyone like hearing about a valuable resource like this database, everyone likes being told about something that benefits them without an (obvious) benefit in return for you.
Beyond helping you get your foot in the door, publicizing efforts about programs like this can help build rapport with warm leads and existing clientele. People like when you remember them, again, especially when they can’t discern how sharing this program directly benefits you. To them, it feels like it’s all about their needs. And it is, but you also wouldn’t be opposed to doing business with them, either.
If you decide to promote NAIC’s new Lost Life Policy Locator, be sure to plan ahead. If you’ll be cold calling, be sure to have a portion of your script ready to go, with information about the program well-organized for listeners. You may also want to have an email or snail mail packet ready to go so your aged leads can learn more about the program and easily access the website. And be sure to track such prospects in your CRM so that you can follow up with further calls, email drip campaigns, or other contacts.
This new national life insurance program is definitely unique and could be a great way to connect with new leads, all while helping spread awareness about a worthy program.
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