Building a Database of Buyers with Aged Life InsuranceLeads

Working aged life insurance leads takes a much different approach than working real-time leads. Your main goal is always to take an application, but an equal goal should be building your database of interested buyers. Let me explain.

Besides my website, the biggest asset I have is my database of people who I qualified over the phone and didn’t sell. I market to these people twice per month and it always results in new business. I’m adding to this database daily and I’m also removing people with every marketing campaign.

The most costly mistake agents make when working aged life insurance leads is they are focused on the immediate sale and not building a database. If you’re working these leads correctly, you should be qualifying a minimum of 4 qualified prospects every day. This will take about 4-5 hours on the dialer.

Of those prospects you qualified, maybe one out of five will purchase immediately. The other four need to go into your database for future marketing campaigns. This is the point where agents lose a ton of money. They figure that since they couldn’t get a hold of this prospect again (after qualifying or quoting them) or they said they’re not ready to buy right now – that they shouldn’t follow up again. Huge mistake.

The biggest thing to understand is that consumers who purchase life insurance do it when the timing is right. Just because they filled out a life insurance request, doesn’t mean they’re ready to purchase life insurance right now.

Personally, I call this database once a month, followed up with an email blast a week later. You DON’T want to overwhelm this group with emails or calls. You’re simply putting your name in front of them so when they’re ready to buy – you’re their next call.

With this strategy, every “follow up” call session I get a few new applications and I get even more people tell me that they aren’t interested anymore. Which is fine – keep this list lean. Same thing with my email blast, every email blast I get a lot of people not interested which again is fine. Also, I’ll get inbound calls every once in a while from this group of prospects when they’re ready to buy.

The key is to “nurture” these leads. Don’t let them slip through the cracks. If you have a CRM, then tag or disposition them. If you don’t, create an excel spreadsheet with your data on these warm leads. This will become your money list if you treat it right.

When working aged life insurance leads, you’re basically data mining. Pulling out the hot and warm leads. If you’re not following up with the ones that don’t buy from you immediately, you’re leaving a lot of money on the table.

In my opinion, the biggest draw of working aged life insurance leads is building your database while bringing in new clients. It’s the most cost effective way to build your business.