The market for funeral and burial services is increasing since the number of people in their golden years is predicted to treble by the year 2050. The increasing need for solutions to pay for funeral and burial costs makes the final expense leads market being a precious commodity for insurance agents and brokers. This is something that everyone has to think about, so therefore it is essential that you have the tools and information in place to be able to advise them of what they require.
Cold calling, postal mail campaigns, email marketing, web advertising, and delighted consumers can generate last-mile purchase leads. If managed appropriately, insurance agents and brokers can profit from these leads.
This market is huge. In truth, US funeral costs are estimated at $12 billion each year. Burial, flowers, and sympathy cards are not included in this number. Funerals cost above $7,000 which is a big ask for many people.
If funeral prices rise, life insurance agents and brokers who sell final expense plans will make more money. This is a great investment opportunity because funerals are expensive and may require multiple insurances to pay all costs. Shrewd financiers are drawn to this industry because of its massive market.
Marketing to prospects requires knowing if they need coverage immediately. Will they commit long-term? If you know this, you can tailor your approach to their needs rather than wasting time on unnecessary material or upsells.
Insurance brokers and agents need death benefit leads to generate new business. To maximise profits, one must understand why focusing on final expense leads is beneficial.
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