Ironically, death is expensive in today’s world. Funeral costs run in excess of $10,000. Realizing the financial burden that funerals lay on family members, people prefer to pay their burial costs during their lifetime by buying burial insurance. As an agent, you can optimize on this trend by finding effective final expense insurance leads.
Identify target audience to generate leads for final expense insurance
The first thing that you need to do is identify your target clientele. Some of the groups you can try are:
Seniors: Many seniors do not buy life insurance after retirement. They, however, like to insure their burial expenses. The advantage is that the coverage amounts for these policies is lower and hence, they do not have to pay high premiums
Short term insurance holders: Several youngsters might not buy long term insurance. Their life cover is meant to cover a certain period such as mortgage loan term or children’s college education. These people would be interested in insuring their final expenses
Term life insurance holders: Term life insurance is offered for a particular term. After this term, the policy holder does not get any death benefits. Some people tend to convert their policy into whole life insurance while others extend the policy to another fixed term after the initial term ends. Term life insurance holders are likely candidates for purchase of final expense insurance so that they have a basic burial cover if they outlive the policy term
People who are not eligible for traditional insurance: Some people are not eligible to purchase traditional policies, while some might not be able to afford one. These people depend on their savings for security. For such people, final expense insurance seems to be a good option because they can ensure that their families are not forced to spend their savings on funeral costs
You can find several good burial insurance leads if you can identify these groups in your region.
Cold calling still works
Collect phone numbers from different sources and place call to prospective clients. If you are successful in identifying target clientele, you can generate more number of effective leads within less time and with less effort.
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