Best Life Insurance Lead Companies - The hardest part of being a life insurance agent is finding good contacts. It doesn't matter if you know life insurance inside out and can explain the nuances of your product with flawless clarity, you can't survive without contacts. Knowing how to find and use sales channels is more important than ever as sales move more and more online, so agents compete with computers for sales.
The life insurance market is notoriously saturated with hundreds and hundreds of agents vying for the attention of a few valuable and qualified potential clients. Addressing these prospects ahead of the competition is critical if you want a profitable, long-term career in this industry. Remember, training in the industry, which pays an average of $52,180 per year, is only considered "moderate."
Best Life Insurance Lead Companies
The following methods are the best ideas to consider for finding life insurance contacts. Below each method is a description of how it works along with its advantages and disadvantages.
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Perhaps the easiest way to ensure a steady stream of leads is for an expert to work for a company that provides leads to their reps. Many life insurance agencies use the promise of contacts to entice potential agents during the recruiting process. While the idea of not having to hunt for deals on your own is tempting, the pictures companies paint on their flagship programs are almost always more appealing than the reality.
However, just because a company doesn't have upfront costs doesn't mean they're free. When you receive tips from your employer, the company almost always lowers your commission in return.
If you're just starting out and have shaky sales skills, this might be a good deal because paying for promotions might burn your money before you get any substantial commissions. For good sellers, however, resellers tend to cost more in lost commissions than they would pay up front for third-party sales.
Corporate leaders also have a reputation for being old and working themselves to death. The turnover rate of most life insurance agencies is astronomical - on average, a new agent lasts less than 90 days. When an agent leaves, the company recovers their contacts and often sends them back to the next batch of new agents. By the time you get your hands on a business opportunity, it may have already been called by half a dozen or more ex-agents.
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If your company doesn't provide leads, or if they do but you're not satisfied with the quality, there are third-party companies whose sole purpose is to sell the leads to life insurers. The way it usually works is to give the company your zip code, how far you're willing to travel to meet potential clients, and how many contacts you want to order. You pay up front and the company offers you a stack of contacts within a specified geographic area.
The biggest benefit of buying leads from a third party is that the lead provider, unlike the employer providing the lead, does not take a large portion of your commissions in return. For a seller with a high closing rate, the cost of the lead will be a small fraction of the commission he receives.
Another benefit that most lead generation companies offer is the ability to specify lead characteristics such as age, income and desired benefit amount.
Some companies offer a choice between exclusive leads, which means they are sold only to you, and unmanaged leads, which mean they are sold to other agents as well. Private counsel is much more expensive, but you have less competition for their business.
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The main disadvantage of third parties is the risk you will experience. You pay them up front, which means if you don't sell any, you're essentially in the negative for the week. New agents who have not yet developed their sales skills are especially exposed to this risk.
To get new clients from LinkedIn, you need to know how to make the most of the site.
You want your profile to stand out. When a person finishes reading it, they should feel like they know you as a person and a professional, even if they've never met you. First, upload a photo that shows you as a professional. This means no photos on the beach, no photos with friends and definitely no selfies. Even if you don't need a fancy photo or a top-notch photographer, you should pay a small fee to get a professional headshot from a reputable studio.
So, take some time to write a thoughtful summary. Your summary section should provide rich information about your professional background. This is where you tell visitors who you are, why you got into life insurance sales, and what you accomplished in the field. Without a thoughtful summary, many visitors won't keep scrolling to read information about your resume.
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Speaking of employment history, don't just list job titles and employment dates. This section should be interpreted as a resume, with bullet points that highlight your accomplishments in each position, but make your writing more informal and conversational. This doesn't mean switching to text, but you want your visitors to feel like they're chatting with you over coffee, not reading a boring summary of your professional achievements.
The site's group search feature allows you to find groups related to your industry, university, and even your interests. Simply joining these groups will not build your network or bring you leads.
By participating in the discussion and making thoughtful comments, you gain the trust of others in the group and establish yourself as an industry expert. When you are considered an expert, experts in related fields feel confident that they are sending your business; Having someone like you in their network makes them look pretty.
LinkedIn forums provide a place where you can provide industry advice to those who seek it. Use this feature, but don't run into a pushy seller. As you answer more questions and contribute more knowledge, you can expect people to contact you for help based on the experience you've demonstrated.
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If the only time you reach out to people on your list is when you specifically ask for leads or referrals, you're doing LinkedIn wrong. Reach out to those on your list when they need help with something, or just to say hello, wish you a happy birthday, or congratulate a recent promotion.
When these contacts have life insurance business to refer, they are very likely to refer it to the agent with whom they have the most active and meaningful relationship.
Sometimes a seemingly trivial social media post can provide an important clue that a person needs your services as a life insurance agent. Take, for example, the ever-present ultrasound image. A new arrival indicates a large increase in an individual's financial burden over the next 18 years. This is the perfect time to reach out to this contact, again in a low-key tone, congratulating him on the big news and letting him know that you're there for whatever he needs.
Partnering with other professionals offers a great way to provide life insurance contacts without making phone calls, relying on too many business contacts, or spending your own money.
Best Ways To Find Life Insurance Leads
Most cities have online groups where professionals from different industries meet weekly or monthly to socialize, share marketing strategies and do business with each other.
These groups are often different. Your network might include a criminal defense attorney, an accountant, a chiropractor, a personal trainer, a plumber, a physical therapist, and you, a life insurance agent.
Let's say the personal trainer in your online group is guiding a client through a series of bicep curls when the client makes a cheeky comment about a recent medical scare and then says that his kids wouldn't be able to afford college if he left.
The accountant may help the client with the retirement plan when the client occasionally mentions that their savings are insufficient for a proper burial. If the online group works as it should, both of these professionals will have your business card handy and will take the opportunity to recommend your services to their clients who obviously need it.
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In return, when one of your customers comments that they need a plumber or want to get back in shape, they return the favor by recommending a member of the group.
Among professionals, companies are usually free, so if you're just starting out, you're not putting your money at risk to lead to a sale. Not having to compare lead providers and lead costs gives you more time to sell life insurance.
On the other hand, they can be old and work to death. When an agent leaves, the company recovers their contacts and can redistribute them to new agents. By the time you get your hands on a business opportunity, it may have already been called by half a dozen or more ex-agents.
Use a good professional profile picture. Make your resume read like a resume, showing bullet points of accomplishments and not just a list of previous employers. Write a good summary with
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