Have you ever wondered how life insurance leads compare to annuity leads?
Being one of the largest annuity lead vendors since 2010 we definitely have an opinion on the matter.
Here is my no-nonsense take on the matter.
Hell would freeze over before we offer life insurance leads to our clients.
Why?
1. Because the close rate on life insurance leads is horrible.
If you read my blog post on SPWL Leads Vs. Annuity leads we had a $20 million annuity producer not be able to close ANY of our SPWL leads.
I care about the close rate because we want repeat clients. We have had some clients with us buying annuity leads non-stop since 2010.
These are the people who keep us in business!
We want long-term repeat business and the only way that happens is the leads convert into sales. Period!
2. Because consumers get more excited about annuities and view annuities as something that will directly help them!
Ex. Let’s say a senior has $100k in the bank earning a small return. They might view a traditional fixed annuity as a way to possibly earn a higher return and reduce their tax bill.
How do consumers feel about life insurance in general?
Many consumers feel that life insurance will help their heirs, their agent or the life insurance company AFTER they die!
I truly believe that life insurance is one of the toughest products to sell in the world for this reason.
This is a huge difference and one of the main reasons why the conversion rate on annuity leads is so much better than on insurance leads.
3. Because most of the annuity marketing services sell leads exclusively. We have had exclusive leads since day one because this is what better producers with money to spend on marketing want. Top producers don’t want non-exclusive cheap leads that waste their time!
What do insurance lead companies do? Sell leads to many different people. They are not exclusive. This lowers the cost of the leads but crushes the conversion rate.
After all, the more agents who call the lead the worse the conversion rate will be.
Most families need some sort of life insurance protection for their family.
We believe in life insurance…..we just don’t feel life insurance leads are an attractive value proposition for agents and advisors because of how most life insurance lead companies set them up.
To learn more about our annuity lead program click here.
