Final Expense Agent Leads – Success Selling Final Expense
With Final Expense Agent Leads, a Six Figure Income is Totally Doable
Final expense life insurance sales has become very popular over the last few years. Anyone with a life insurance license knows what I’m talking about. As a licensed insurance agent, you’re constantly getting approached by Insurance Marketing Organizations. You’re reading things online about how profitable and easy final expense sales is. Yes, for the right person, with the right work ethic, selling final expense can be very lucrative. Especially if you’re working lots of final expense agent leads. This article is about selling final expense with final expense agent leads. We’ll be touching on the following.
- How to Easily Make 5 to 10 Sales Weekly
- The Key to Earn a Six-Figure Income
- Setting Appointments with Final Expense Leads
- Door Knocking Final Expense Agent Leads
- The Best Leads for Final Expense Sales
- How Buyers are Still Liars
- The Final Expense Sales Presentation
- Delivering Policies and Getting Referrals
How to Make 10 Sales Each Week Using Final Expense Leads
The key to success at selling final expense life insurance, is to always have new prospects. You want to make lots of final expense presentations, every single week. This means having fresh final expense agent leads on a weekly basis! Thankfully, direct mail final expense leads are readily available for agents on our sales team. Some agents work around 40 leads per week, making it easy for them to make over $100,000 per year. The more successful agents work 30-40 final expense direct mail leads each week. They add in a mixture of final expense Facebook leads and telemarketer leads with the direct mail. Keep in mind, this isn’t what most final expense agents do. Your typical final expense sales agent is afraid to invest into their business. But for the right “business minded” person with a strong work ethic, it’s easy to make the big bucks!
The easiest way to take in 10 applications each week is to have around 40 leads per week. With this many final expense agent leads the law of large numbers is your best friend. You see, if you only work 20 leads each week, you might not be able to make 5 sales. With double the leads, those large numbers kick in. This makes it easier to hit that 25% closing rate that we all want to achieve. If you’re thinking, 25% isn’t very good, you’ve probably been listening to “fake” marketing drivel. You might even need to re-think working in our industry. As always, I’m only interested in sharing the truth and have no interest in exaggerating the facts. I’ll just leave that to the Multi-Level Marketing guys. Don’t take me wrong, there Is always an exception to the rule, but my numbers are just more realistic.
What is the Best Lead?
Just to be clear, all leads are not created equal. It is extremely important that you work your way on to a fixed cost weekly direct mail leads program as soon as you’ve cut through some of the learning curve. Final expense direct mail leads have some very important benefits that normal final expense agent leads do not have. With direct mail, you can actually target the exact zip codes where you’re your better target market lives. In other words, with a little bit of research, you can look up zip codes with people of the best income levels to increase your closing ratio. So if you want to target neighborhoods where more African Americans live, you can do that by dropping mail in those zip codes. If you’d rather just target more rural, country folks, you can do that too. Either way, some zip codes are better than others.
With our final expense direct mail leads program, you can add filters to make it even easier for you to target the best people. Our direct mail leads automatically target people that are between the ages of 50 and 80 years old. We also target an annual household income level between zero and $45,000 per year. For an extra buck, you can filter the leads to only target people that are 55-79 years old. For a couple more dollars, you can add a filter that targets annual household income levels between, $15,000 and $60,000. I find this second filter unnecessary as a lot of time, the data is off a little, and we are often getting in front of higher income folks anyways. It’s still nice to have this kind of control with the how you target your local market as every state, city, and county tends to be different.
How to Set Final Expense Sales Appointments
Most people think they should just be able to call through their leads, and easily set up a bunch of appointments, but this is usually not the case. In order to be successful on the phone, you’ll need to dial through all your final expense leads at least 6 to 8 times, on your phone days, usually 2 to 3 days per week. I suggest triple calling each lead before moving on to the next as this will get the best results with more people answering the phone. You should have a good appointment setting script like the one that I use. Heck, if you email me at [email protected] I’ll send you a copy of mine. You also should know how to overcome objections as half of the people you reach on the phone will try to blow you off. You can email me for an objections script too!
A talented final expense agent will get the most out of their phone days. For me, the phone day is more like a phone/office day where I catch up on all the customer service, while booking up the next day with as many appointments as humanly possible. Always book your appointments up for the next day and not more than 2 days out. Generally, if you’re working around 40 leads per week, you should have around 15 to 18 appointments each week. This number will vary from city to city and state to state, and is also pending on how hard you work your leads on your phone days. When I sold full time, I’d get around 15 appointments off of 30 direct mail final expense leads. I suggest starting to call through your leads around 9:30 am and making your last dials after 8:30 PM in the evening.
Door Knocking Final Expense Agent Leads
We have agents on our sales team that used to work with other companies like Lincoln Heritage and Senior Life. Most of these agents say that they were taught to door knock all of their leads without calling first. This is what I was taught, but it’s not necessary for all of us. To make the most out of our time, it’s usually best if we have phone days and field days. I teach our agents that this is an individual decision. It should be left for you to make. Especially since you’re the one who will have to cut through the learning curve on your own terms. I suggest door knocking all of your final expense agent leads early on, but the sooner you start having phone days, the better, so you’re just door knocking between appointments.
First, make sure you have a printout showing all the final expense agent leads that you’re going to be door knocking. I like to pull right into the driveway, walk up to the house with a stack of leads in hand, and knock on the door with my car key. Step back a couple of feet, and say something simple when they open the door. “Hi Jane, my office sent me here, you filled out the little card about the special benefits for social security recipients, where can we sit down real quick? Point to the card while speaking and start to motion forward when asking where to sit down. Some people will simply invite you in and some will give you an objection. This is where your training will come in handy and if you do what we teach, you’ll get in the house, and make your presentation.
The Typical Final Expense Sales Prospect
Our target market is folks between the ages of 50 and 80 years old, and generally on a fixed income. They either have not taken care of their final expenses yet, or have had insurance policies that have lapsed. In many cases, they have an expensive insurance policy that can easily be replaced. We love these policies as companies like Lincoln Heritage have a lot of agents leaving them behind, just waiting for an independent final expense agent to swoop in and save them money. These overpriced companies are great for you, the final expense agent! Interesting enough, a lot of the sales we make are to people that really are not sure what the final expense leads are, and are often hoping that they’re going to get something for free. This is our typical client. We sell lots of people that have had many life insurance agents approach them.
This is where it’s important to have the correct approach for your final expense agent leads, and a strong final expense sales presentation. Your approach should be generic as the last thing you want to do is mention the words life insurance when calling to set appointments, or door knocking. I never mention the words life insurance until I’m in the house, making my presentation. A talented closer will be highly effective, even when the prospect has no idea what they filled out. Again, this is where your final expense sales training comes in. The more prepared you are to go out to sell, the better. If you’re not good at studying and preparing, you’re better off just going out and doing the activity. This is why you’ll hear managers tell agents, “just go out and do it”. Hesitation and overthinking is not your friend in any sales industry.
Final Expense Presentation
One of the most common approaches to a final expense sales presentation is the “3 reasons approach”. What I do during my presentation, is simply let the prospect know that I’ve been doing this for many years and that during that time, I’ve learned that there are 3 reasons that people fill out final expense agent leads forms. The first reason, may be that they’ve never pre-paid for their funeral, or that they have no coverage for when they die. The second reason may be that they have some coverage, but are interested in adding to their insurance, and the third reason is that they’ve already taken care of their final expenses but they either want to leave extra money to the family, or are shopping around for a better deal on their insurance. This is when I say, so of the three, where do you fit in?
There are several things that need to happen during each final expense sales presentation, whether you’re working final expense agent leads or not. You have to have a system of building lots of rapport, immediately. I suggest using a personal commercial. You also want to uncover their “need” for the insurance. I like to talk about the beneficiary and how they will be stuck having to pay out of pocket. Then you want to have a competitive product to lead with and other insurance carriers for different health niches. This is how an independent agent sells. You have to learn how to do field underwriting, be able to make a solid Close, and be ready to overcome objections while closing the sale. You’ll find that a lot of people will just pick an option, once you’ve gotten a smooth presentation down. Others will naturally give you an objection or two.
Acquiring the Best Final Expense Agent Leads
When it all comes down to it, nothing beats a good ole fashioned referral as the number one final expense agent leads. One of the most important things you can do is get referrals from everyone you meet, whether they buy or not. What do you have to lose by asking for a referral from someone who you just sat with that did not buy. This is where our Agent Evaluation form comes in. You simply pull out this form, let the prospect know that you’re required to have everyone you meet fill it out, and then make sure they write down a few names and phone numbers of their friends and family. Besides that, you always have the next-door neighbor to hit up. Just ask what their neighbors name is and use that when you go and knock on their door. You’d be surprised at how easy it is.
Delivering all of your policies is absolutely important for 2 reasons. First, you’re locking in the sale. Statistically, more people will stay on the books for a longer period of time, if you hand deliver the policy and rebuild rapport with the prospect. This is also when you absolutely pull out the Agent Evaluation page and get several referrals. If they are giving you local family members, I ask them to give them a quick call and let them know that I can stop by right now. These are often the easiest sales as they are the best final expense leads you can get. All you have to do is ask and you shall receive. Think about it. You just helped out your new client. They’ll usually want to help you out too!
If you’re new to final expense sales or are interested in getting yourself into a six figure career, just shoot me an email at [email protected] We make sure our agents have access to a full array of Final Expense Training videos and access to me as their personal final expense sales trainer.