Best Leads For Final Expense Agents 2024 (Top 5 Ranking)

Ladies and gentlemen, today we're going to be talking about the top five lead sources to use for life insurance telesales in 2024. This is something that everyone is, you know, confused about with everything that's happened with the FCC and all this crazy stuff that's going on. I'm going to be breaking it down for you guys and showing you the top five lead sources for life insurance for telesales for 2024. So let's go ahead and jump right into it. Start starting with number five, which is.

Live transfers, right? So this may be a little controversial for some of you guys because maybe saying, you know, I thought the FCC was going to destroy live transfers. Well, let me tell you why. So there's a few different live transfer models that are out there. And I'll just say a lot of the vendors for live transfers just flat out suck, right? I mean, if some guy hits you up in your Facebook DMs and he looks like he's from India or Pakistan, and I don't mean that in the wrong way, but a lot of times that's where this kind of stuff comes from. But if someone just hits you up in their DM in your DMs and they're like, hey, do you want to buy, you know, 20 live transfers for $30 a pop? Okay, that's not what I'm talking about here. When I say a top five lead source, that's a way to get scammed. That's a way to ultimately get yourself in some legal trouble. Because usually they're not following the rules. But the live transfers that I'm talking about are from reputable vendors, American based call centers, and sometimes from IMOs, right? So the reason that I put live transfers here is it's all about efficiency, right? And so basically, your time as an agent is extremely important. And it's less about the cost per lead and it's more about how many sales you can get per day and how much each sale costs you, right? So if I can take live transfers and have a consistent flow of live transfers, I'm gonna be making a lot of money, right? And so, for example, there's a few different models out there that rely heavily on live transfers. And basically, a lot of the times the way that they generate them is they run a ad or they run a TV commercial with a phone number on it that gets people to call, right? So whenever you're gonna look at a vendor for the live transfers, I would recommend doing somebody that uses a TV commercial.

Or somebody that's running an ad with a phone number, right? I'm not talking about the live transfers where they buy, like, a list of a bunch of people, and they're just like, calling through them and just ripping phone calls. And then, you know, if somebody wakes, you know, answers the phone and has a pulse, they'll transfer them over to you. Those are obviously the worst live transfer. So make sure if you're going to do this, find someone that's reputable. Find someone that's running a TV commercial or is running an ad with a phone number in it. So I have some notes here. The breakdown as far as why this lead is actually really, really quality in one of the top five is again, because of the efficiency, but also because of the intent, right? So.

In order for somebody to pick up the phone and call you, they have to have some level of intent, right? It's basically when I say live transfer, I more so mean almost like an inbound call. So somebody that is calling in, either talking to an operator and the operator is transferring them to you, or they're just inbound calling and going straight to you. So the reason is the efficiency and then also the intent of this lead. Now, the downside, the cons of the live transfers is oftentimes the cost, right? A lot of times these are a little bit more expensive than other leads, or actually they're quite a bit more expensive. We're talking, you know, $50 plus usually for anything that's remotely good, sometimes even more than that. And also, the other downside with these is they can be not as scalable, right? Because if you think about it, in all reality, this is all every agent really wants to do all day long is just take inbound calls of people that want to buy insurance. So they're very in demand, which means that finding a one can often be tough. So in theory, this would be like the best lead source out there. But the problem is they're hard to find good vendors. The cost is usually a little high, and they're good for writing a few policies a week. But if you're really, really, really trying to scale, it's going to be tough to, like, really ramp that volume up. So, you know, I've talked to a bunch of agents that have used live transfers, and they, you know, love them, but they can only get, you know, a few a week, which is not ultimately something that you can scale a business off of. So that's number five, live transfers. Let's talk about number four, which I'm gonna be honest. I think is probably gonna cause a little bit of controversy here, especially with some of the legislation that has passed recently. I'm gonna switch marker colors just to keep you guys on edge and keep the brain centers activated. Number four is actually aged leads, right? And there's a particular vendor that I think is really good that I'll shout out here on this video that no affiliation with them, but we've made a lot of money using this vendor and have recommended people to use this vendor, and they have also made a lot of money. So age leads. And in particular, I'm in the agedlead store, right? Ageleadstore.com I wish I had an affiliate. I don't. But they're still great. So. Ageleadstore.com and so essentially the reason that this lead vendor I like so much is their leads are like 50 cents, right? They're like 50 cents each. 50 cents each. And before I get into more about the age leads, let me just preface this with, like, I know the whole thing with the fcc. I know the sky is falling and I know I made a video about it too. The sky is falling. In a way, a lot of these companies, like age lead store, will probably go out of business.

Six months from now, right? I'm making this video in January. So disclaimer age leads at number four for the first six months of the year until the FCC law comes into effect. If you're watching this, after June or July, age leads are going to be out of style completely because they're going to be illegal. But until then, like, you might as well get, you know, get it while the good is good and you can still make a ton of money on age leads and the risk is really low and you can get a high ROI with a low investment, hence $0.50 a lead. So age leads, right?

The nice thing about this, and I'll just tell you guys, like, when I first started into the business, I was doing face to face, right? And we would get these. We were on a free lead model from an imo and we were doing direct mail leads. They were gift card crappy leads. So it's kind of like, it was a really kind of a bad model. They were like people sending in a mailer for a gift card. They didn't actually want life insurance. And basically we would get a set amount of new leads a week, and then the rest we could get as many old leads as we wanted. And 70% of my business came from age leads, right? And I was writing about 6k a week. 70% of that was from age leads. 30% of that was from the new. And part of it was because there's a lot of money in age leads, but part of it is because I was able to get more age leads than I was able to get new, which is because the reason for that is because they are cheaper. Everyone wants the new leads, and nobody likes calling age leads, which means a lot of these people don't get called. Right? A lot of these people aren't getting called. So they may have filled something out months ago. An agent bought the lead, called them a couple times. They didn't answer because, you know, like, usually these people will fill in a bunch of forms, Their phone will get called. Like, they'll get telephone terrorized for a few weeks, and then it'll kind of stop. And then they turn their phone back on, and then all of a sudden, you know, it's open season. You can call them again. So this is why I really like age leads. There's a lot of money in there. Not a lot of people call them. Nobody wants to work them. And so it's really like the ugly duckling that, you know, lays the golden egg. Right? Age leads number four, if you're watching this, after June, July, or whenever the FCC deadline, you know, hits, don't buy age leads anymore. A lot of those vendors will go out of business. But before that, I still think age leads is a very, very high roi, high profit margin lead. And I personally know people who are writing 20k a month only using ageleads, and their profit margins are sky high. So age leads, I need a little bit of whiteboard solution. This thing's getting a little messy, but we will go with it. And the third one here, this is one that I actually haven't had on my list before. Number three. But I've seen the power of this is organic leads, right? And in reality, okay, I know I said live transfers would be the best in theory, but in theory, an organic live transfer, an organic lead would be the best possible lead. And I'll tell you why. It's only at 3, but let me first tell you guys why it's so good. So basically, there's this company out there called Choice Mutual.

Huge fan of what they're doing. I know they're making a ton of money, but basically they have a website that ranks organically with SEO. So whenever people go to Google, they go to google.com and they search in like final expense insurance.

I'll just say final expense.

For seniors. Right? Like, people are looking, you know, final Expense for seniors or best life insurance for seniors, Whatever.

For seniors. They're typing in these like high intent search terms, right? Meaning like they are at the bottom of the funnel. They're like ready to buy, right? So here's a little funnel. Here's the people at the top, the middle, the ready to buy. Like these are people with their freaking checkbook out. They just went to a funeral where the person didn't have life insurance and they're like, I need life insurance right now. I will sign.

I will sign. I have my, you know, checkbook in hand. Like these are your hottest prospects, right? These people go to Google and they search and so basically when they search this website, Choice Mutual, they have a bunch of articles that answer these different questions about different things with life insurance. And so basically people then fill out a form. So the organic is the highest intent lead because it's people actively searching for the product. The other type of organic would be like YouTube videos or TikTok videos. A lot of people were doing stuff on TikTok. I don't know how that doing with final expense, but it's working for some people. But basically organic leads, you have no cost, you're not spending anything other than to create the content. And the lead is really high quality, right? If they're actually searching for it. The only downside is you have no real control over the scalability. It also is difficult to create. So if you're a brand new agent, you would have to go out and create a bunch of content and basically become like a YouTuber. But about life insurance, which most people don't want to do, most people just want to sell. So that's why I say in theory this is like the highest quality lead. But it's for a couple reasons I don't put it at the top, which is scalability. You can't really control how many people are searching for life insurance. You just kind of get what, get what's out there and get what you get. And then also the barrier to entry. So you have to produce a bunch of content or write SEO articles. Like the guy from Choice Mutual said he wrote SEO articles for like almost a year before he even got his first lead. So it's the type of thing that you know, in theory is like the best type of lead. But for most people it's not super realistic to do. But I did want to throw it on here because some of you will go out and you know, create a TikTok page and start posting about final expense on TikTok and maybe get a few leads. Know quite a bit of agents that are doing that. So I did want to throw that on this list. Let's talk about number four now or number two. Not number four. Number two. And this is what I use the most in my agency is Facebook leads.

Facebook leads are amazing, and there are a few reasons why. Let me just make sure I pull up my notes here so I get all of them for you. So the nice thing about Facebook leads is they are infinitely scalable. Right. I'll draw a little infinity sign here and try not to make it look like a butt. But they are infinitely scalable.

Right. So I can put in as much money as I possibly want into Facebook, and it'll just shoot out leads for me that I can then, you know, sell.

You can spend thousands of dollars a day on Facebook if you want. You know, as an agency. That's kind of where I come from. If you're an independent agent, you can also, relatively easy, start generating your own Facebook leads, too. And also, the cost is very reasonable. They're reasonably priced. You can generate a Facebook lead for under 10 bucks.

Reasonably priced. My handwriting is atrocious. I spend most of my time typing on a computer, so excuse me with this terrible handwriting, but they're infinitely scalable. They're reasonably priced. There are a couple downsides, which I would say is there can be high competition on Facebook. So a lot of people are running ads on Facebook, a lot of people are doing the same thing. And so you can kind of blend into the zombie hoard of all these agents that are running free quote ads on Facebook. And they don't know you from Adam. Right. So you're basically just another person calling them, which obviously you can still make a ton of money doing that. That's just kind of one of the downsides. And then also you'll get a lot of people that, you know, forget filling it out, which I would say is probably higher with this than, like, obviously an organic lead or direct mailer, usually. But overall, I think the positives outweigh the cons. But again, the cons are like, competition. And then also, you know, sometimes the quality of lead, depending on what type of ad you're running, can be a little iffy. But overall, Facebook leads are an absolute dream. So what is, number one, the best lead source for 2022? I'm going to be honest. I think some of you are going to be disappointed because it's going to be something that you guys might already know, but you just aren't doing so this video will tell you to do it. This will be your sign that you should do it. Let's switch back to red here. Stimulate those brain centers for you guys. Let's do number one. The number one best lead source for 2024. What do you think it is? I'll give you five seconds, see if you get it right. 5, 4, 3, 2, 1. It is referrals. Referrals. You go like, God, this guy, I waited this whole video and he's just going to tell me to ask for referrals. And I don't even think he spelled referrals right. Actually, yes, he did.

Referrals are amazing. And if you aren't asking for them, it's just because you're lazy. So referrals are the highest intent lead that you can get. They are also free, right? And so basically, at the end of a sale, if you are able to ask for a referral, and if you guys want to see how to ask for a referral, check out this video right here.

But basically, the nice thing about referrals is you already so essentially, like you're getting the stamp of approval from your customer, right? So here's kind of the way that you think about it. Think about your friend referring you to go to a restaurant, right? If I.

Let's say I'm talking to Julian, who's my business partner, if you don't know, and he's like, hey, you know, Tim, you have to check out this steak restaurant. I'm like, okay, why? It's like because of this, this and this. The steak is amazing. You know, they put this amazing chimichurri sauce on it. They just cook it to perfection. Medium rare is obviously the best way to use steak. I'll be like, okay, well, cool. You know, I have to check this steak restaurant out. There's no pressure. I don't feel like I'm getting sold. It's just like my friend is recommending it, right? Which psychologically is like, if my friend likes it, if my friend is recommending it, all of a sudden, boom, got the stamp of approval. I'm gonna go check out the steak restaurant. And it's the exact same way with your leads for life insurance. Not to mention they are free. Did I mention that they're free? So referrals are a very high intent lead source.

They are also free.

And the cool thing is you can't necessarily predict them, but they are actually infinitely scalable because what happens is it's almost like a flywheel. So basically, you start getting customers, you get your initial customers right, Then those customers, if you do a good job, which you basically want to take more of a consultative approach as opposed to like pressuring someone into buying. But if you do a really good job, those people will refer you business, right? So it basically starts like this, right? One transaction, boom, they refer you business. Now you get this person, and then now this person refers you business. And it just goes in a cycle. And then all of a sudden, next thing you know, you have so many clients referring you business that then become sales that then refer you business that the referrals start to catch up with the other leads that you're getting. And ultimately.

That'S like the optimal way to run the business, is your book is so quality and you've nurtured them so well with good service that they'll just recommend people to you. And then at that point, your cost per acquisition starts to go down and your profit margin goes sky high. So that's referrals again. If you guys want to see a video showing you how to ask for referrals, then click the video right here. And without any further ado, guys, that is my top five lead sources for 2024. Let me know in the comments down below. Do you agree with my list? Do you disagree with my list? If you disagree with my list, please let me know in the comments and we'll start a little debate in there. But thank you guys so much for watching and I will see you in the next one. Peace.