Best Practices for Converting Life Insurance Leads
September 17, 2024 | Johanna Karlsson
Finding the best leads for life insurance is challenging enough, with agencies competing for customers among the nearly 90 million American families buying life insurance, according to Forbes — but converting the lead can be even more difficult. However, the method for capturing these valuable insurance leads has proven vital to increasing the chances of conversion. Traditional methods like cold calling or direct mail can generate numerous leads, but the quality can make it difficult to convert. Buying quality inbound leads for life insurance can make all the difference in closing the deal. Getting exclusive leads from professional lead vendors can help agencies access customers who are actively looking for life insurance policies. These quality leads can also be directed to the agency based on the type of policy, income level, age, and location. This information about a high-intent consumer makes it easier to convert the lead.
The best way to capture high-quality life insurance leads requires multiple approaches, includingdigital marketing strategies for life insurance andbuying leads from lead-generation sources. Combining these methods can help life insurance agencies ensure they have a steady list of new customers coming in from multiple sources. Online marketing has proven to be a great resource for life insurance agencies looking to generate leads. It can provide organic and paid leads when used properly.
Digital marketing starts with developing a professional website with informative content about life insurance topics and policies. After establishing the website, agencies can use search engine optimization (SEO) methods to improve online visibility in search results so potential clients can find the business when searching for insurance information online. Life insurance agencies can also use pay-per-click (PPC) advertising campaigns to reach targeted consumers, helping reach specific demographics. Social media platforms like LinkedIn, Facebook, and X/Twitter are other channels agencies can use to share valuable content and engage with potential clients to expand their reach.
Where Do You Buy Life Insurance Leads?
For life insurance agencies wanting other lead generation options besides digital marketing, purchasing leads from reputable companies offering life insurance can be a viable option. These purchased leads are often higher in quality and have a better chance of conversion since they come from high-intent consumers needing life insurance plans. There are also lead sources that specialize in generating and selling leads for businesses in specific geographic areas for a more localized approach. When purchasing leads, consider these important factors:
Lead quality and exclusivity.
Cost per lead.
Lead delivery method.
Customer support.
Compliance with regulations like TCPA.
Combining purchased leads with digital marketing efforts often produces the best results in building a growing life insurance business.
How Much Are Leads for Life Insurance?
When considering the cost of a life insurance lead, the quality of theinsurance leads will most impact its price. Higher-quality leads with consumer demographics that are sold exclusively to one agency will cost more than an old, shared lead. The location and income level of the customer may also impact the costs, with leads in highly populated states and high-net residents costing more. Buying leads in bulk may also reduce the price.
In general, the typical price ranges can be:
$5 to $20 for lower quality or aged leads.
$20 to $60 for higher quality or real-time leads.
$100 or more for exclusive, high-quality leads.
Does Buying Life Insurance Leads Work?
Buying life insurance leads works if it’s done from professional lead generation companies offering quality leads with high-intent consumers. While buying a quality lead is crucial, the sales approach is also important. To get the most out of lead generation services, an agency should have a plan to follow up quickly, especially with real-time leads actively looking for life insurance policies. They should develop a proven sales script and have a consistent follow-up system for leads that don’t convert immediately. Agencies can also track conversion rates and costs to determine the types of leads that perform best. This process will help them adjust lead generation efforts based on results.
Buy the Best Leads for Life Insurance From HealthPlusLife
Estimates show that over 106 million Americans with and without life insurance feel their coverage doesn’t properly protect them and their families, according to Forbes. With such a vast number of consumers unsatisfied with their coverage or lack thereof, there is an opportunity for life insurance agencies to reach new customers. To buy the best leads for life insurance, HealthPlusLife sellshigh-quality insurance leads exclusively to our clients. Our leads come from consumers actively looking for information on life insurance policies to help agencies close the sale. We also offer digital marketing services for life insurance agencies to help enhance their online presence with website optimization and content marketing. Please contact us at 888-828-5064, TTY 711, today to learn more about how we can help your agency’s lead generation and online marketing efforts.
Johanna Karlsson Johanna Karlsson is a veteran health and life insurance professional licensed in 50 states. She relocated from the countryside in the south of Sweden and has not looked back. After coming to the United States to attend university, she gained her degree in Public Relations. She brought her public relations skills to a local international health insurance where she discovered a new passion in insurance. After years with that company, Johanna now joins HealthPlusLife to help build a team of licensed insurance agents ready to meet your insurance needs.
