Insurance World

What to Look for in a Lead Service

If you have a successful insurance company, but still believe there’s an untapped segment of the market that you haven’t reached, you may want to avail yourself of an online lead generating service. Insurance leads purchased from a reliable provider will not save a floundering insurance agency or make mediocre agents stellar sales people. But leads purchased from a service can certainly supplement the sales of an agency with a solid core of clients. Of course, no lead sells itself. Any contact you get, no matter how interested they may be in purchasing a policy, will take effort.

Here are some guidelines when considering an online insurance lead service:

* Be wary of any service that promises you extraordinary results.

* Make sure the leads you purchase are guaranteed against no call complaints.

* Leads should be from consumers who have requested a specific type of insurance quote (life, homeowners, medical, etc.).

* All phone numbers provided should be verified by the service.

* Fresh leads, sent within minutes of generation, are best.

* Companies that do not require a long-term commitment from you are preferable

* Go with a service that has no set up fee.

* Minimum purchases are a normal part of the business—the range is usually $500 - $750.

* Look for a service that has a track record—five years or more.

* A lead generating service that specializes in insurance and related products will best serve your needs.

* Examples of typical leads should be included on the company’s website.

* A service that is a member of the Better Business Bureau Online is preferable.

A solid lead should contain specific types of information regarding the potential customer. A lead is an outline for your sale, providing you with more than mere contact information.

Initially, the lead will be assigned a control number that will serve to identify it and that will be useful for your and the lead services’ tracking. It will also contain the lead type—life, health, automobile insurance, etc., along with the date the lead was received.

Contact information will include the person’s name, address, phone number and an alternate number. There should also be an e-mail address. For life insurance, there will be basic information about the potential client, including sex, age, height and weight. Any health problems and use of tobacco will be stated, along with information regarding the person’s housing—rent or own.

You may also receive data regarding the lead’s spouse, such as their age, weight, height and use of tobacco. Finally, there will be information detailing the amount of insurance and the type of policy in which they are interested. For life insurance you may receive two quotes, one for term and the other for whole life.

Other types of leads, such as health insurance, homeowners, or disability, will contain the same basic contact information but will vary greatly depending upon the type of lead it is. As an example, a good health insurance lead will provide you with information about the family members, including any health problems, use of substances and current medications.

When considering a lead generation company, be sure it is clearly stated how they get their leads, what will be in a lead and the profile of a typical lead. Companies that are an official partner with major search engines, such as MSN, Google and Yahoo, and that are recommended by high profile publications, such as the Wall Street Journal, often offer a good product. People that use the Internet are typically more educated and affluent than those who do not and thus leads from this source often make better prospects than those harvested from other places.

A lead generation company should also define what constitutes a valid lead. You should not be charged for a lead with bad contact information or that is listed in the National Do Not Call Registry. Also, a company should charge for the lead only—that is the person you will contact—and not the number of products you may sell that person.

Look for a company that will taper the number of leads you receive at a given time to meet your needs. If you have any questions or problems, ease in contacting the lead generating company, either through e-mail, chat or a toll free telephone number is a necessity.

Exploiting the Internet as an information center for your insurance business can help broaden your customer base and expand your market share, providing you with clients with whom you might otherwise never connect. Use it to your advantage.

Choosing a life insurance plan is difficult; it takes a lot of time and research in order to ensure that all aspects are thoroughly examined before making a final decision. There are basically two forms of life insurance to choose from: term life insurance and permanent life insurance.

Below you will find valuable information regarding both forms of life insurance as well as other helpful information which will assist you in deciding which form of life insurance is best suited for you and your situation.

The first thing to do is to research and understand the concept of both forms of life insurance. These two forms of insurance have been compared to buying or leasing a car. Term life insurance is much like leasing a car, you can purchase insurance for a specific number of years, but once those years are up, so is your insurance coverage. Permanent life insurance is similar to buying a car. When you buy a car, it’s yours and you can drive it forever if you like. Permanent life insurance stays with you until you die.

Depending on your situation, each form of insurance can be very beneficial and offer many great opportunities. Below you will find a more in-depth explanation of each form of insurance providing advantages and disadvantages of both.

Term Life Insurance

Benefits
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Term life insurance is inexpensive and can cost a considerable amount less than permanent life insurance.
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There are no strings attached with this form of insurance and you are free to stop paying whenever you want.
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You can begin using term insurance and if you feel like you want more coverage, you can then convert to permanent life insurance if you wish.

Downfalls
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Term life insurance only provides coverage. There are no other rewards and there is no cash value.
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Yes you are free to stop paying whenever you please, but should you choose to do so you will no longer have any life insurance coverage.
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Term prices increase at a rapid pace as you get older and as you get older, your need for this type of insurance will become more and more crucial.

Permanent Life Insurance

Benefits
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Permanent life insurance can accumulate into cash value and savings. Any cash value which you receive will be tax deferred.
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There is no risk involved in this form of insurance. Your loved ones will receive a death benefit regardless of when you pass away, whereas term life insurance will only pay out if you happen to be covered when you die.
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You can borrow the cash value you receive to pay for college, a vehicle, etc. You can do this without receiving a penalty for doing so.

Downfalls
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The most noticeable disadvantage to permanent life insurance is the cost. This form of life insurance will cost you a great deal more than term life insurance.
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Should you decide to forgo your permanent life insurance coverage, you will be required to pay a large penalty which will be bounded by law.