NEW FCC Law BANS Life Insurance Leads! Do This NOW...

What is going on? Ladies and gents, wanted to take this video, just kind of take a quick second and explain to you guys the new FCC ruling. So basically this is kind of like killed the whole lead vendor game in the insurance industry. And I kind of just wanted to break it down, what it actually is, what the whole ruling is, how it actually affects you and then how you can approach it moving forward so that your entire business does not get destroyed or demolished. Right. So without any further ado, I'm going to kind of jump into this and jump into what the ruling actually is and then we'll talk about again how it affects you and then how you can adapt, improve and adjust to it. So first things first, I have this little page up here, you know, from a lawyer kind of talking about what it is. And I've also kind of taken some notes to simplify this for you guys. So basically what this does is it's going to cut down on people opting into a page and then their information being sold multiple times, times. So if you've ever seen a lead generation website, like for example, if you look up car insurance quotes, you're going to pop up on like a comparison site, you're going to put in information, it's going to be like a little quote form and then they're going to sell your information like 15 different people. And so basically in the fine print, they'll have a list of all of these different people that they can, you know, sell your information to. And so what basically would happen is somebody would go to a lead vendor, they would opt in, and then in the fine print it would say, hey, we can sell your information to all of these different people. And so if you've ever called leads, you've probably heard you're the 100th person to call me. And that is kind of the reason why these people opt in one time and they're just sold over and over and over and over and over and over and over again. Right. So that is what they're actually addressing is opting in one time and then that being used to sell it to multiple different agents or, you know, different industries. Like sometimes people opt in for car insurance and then get life insurance, all kinds of crazy stuff. So this is cutting out that, right? So basically the language that they use is single consent to one person. So a single consent would only mean a single party, like a single company or a single agent could contact them. Whereas right now it's been like a, it's called, they call it the lead generator. Loophole which is basically where one opt in can be sold to multiple different people. Right. So there's comparison shopping websites, all the like scammy data lead stuff. All that is kind of going out, right. So basically it also allows the FCC to quote unquote red flag certain numbers, which means that carriers would block texts from those numbers. Right. So the do not call list protections apply to text messages, making it illegal for marketing text to be sent to numbers on the registry. Meaning what's likely going to happen is you're gonna have to scrub leads against the do not call registry before you text them. Which there's a super easy way to set that up in Zapier. There's like a million ways to do it. I can make a video on that if you guys want.

And also a quarters providers to do email to text opt in service. Not entirely sure what the email to text message things. I'm basically just thinks that that's mean they have to tick a boxing or agree or opt in that they want to be emailed and texted by you, which is most people are already doing that anyway, which would eliminate the effectiveness of major source of unlockable cool. So that is kind of what this is looking like. Let's talk about how it actually affects you. Right. So first things first, age leads are totally done. So we've talked about the age lead store in the past is like a viable way to buy leads. That's going to completely go under. A lot of these lead vendors are already going belly up because of this reason. Because you can't contact a data lead that hasn't agreed to be contacted specifically by you or specifically by your agency. So the age leads, the data leads, all that stuff is going to go out the window, right? And a lot of times live transfers are generated from those sources. So if you ever get a live transfer, oftentimes it's going to come from somebody buying a mass list of data leads or age leads or whatever and then calling through them and sending them to you. So the live transfers, those are going to be really, really hard to find. The age leads will also just completely disappear in my opinion. Also, I'm not a lawyer, so take everything I'm saying with a grain of salt. This is my understanding of it and how we will be reacting. Lead prices will also go up, right? Because a lot of these cheap leads, these lead vendors being able to sell things over and over and over, expect the lead cost to kind of skyrocket. To be honest with you, I think the lead price is going to go up considerably. But on the flip side of that, the quality of each individual lead, I think will increase because a lot of these calls will be cut down. So these people that are interested in life insurance fill out one form and get called by a million people. They're gonna fill out the one form, or maybe they fill out a couple forms and they're not gonna get nearly as many calls. Meaning that for each individual person that gets a lead, each individual lead you have, I think each lead is going to be higher quality. So overall, I think this is a very good thing for the industry.

But yeah, so the quality of each lead is going to increase, but so will the price. Right. Lead vendors are going to drop like flies. It's going to be considerably harder to find leads in the industry. Right. Right now you can literally search insurance leads. There's a million freaking lead vendors everywhere. I think a lot of people are going to get out of that game because of how hefty the fines are going to be if you break the rule, right? So I think leads are going to be a lot more scarce to find. And I think the biggest skill, the biggest. I've heard a lot of other people referring it to as the moat, the biggest, like the biggest differentiator from one agency to another is going to be the Legion system, right? So a lot of these MLMs that like their whole game is just recruiting bodies, I think those people are going to suffer a lot, right? I think their businesses are going to suffer considerably because it's going to be a lot harder to recruit in agents to the insurance model when there's no leads to get them. So these people are gonna have to get a lot smarter about the way that they're generating leads. So I think a lot of these MLMs are going to suffer, specifically the three letter ones. You guys can, you know, fill in the blank there. A lot of those agencies will decrease, a lot of people will fall out, which ultimately I think is a good thing for the serious agents that are in the business. So that's kind of how I think it's going to affect the industry, how it's going to affect you. You're going to have to get a little bit wiser about the way that you're getting leads and the way that you're generating them. So talking about how to overcome it. So ultimately, the way that I see this is there's two ways to really do this, kind of three, but mainly two. I'll touch on the third one in a second. But basically you can either find An IMO with a solid lead generation system. So this would be an IMO who's going to supply you leads, they're generating leads in house and basically an agency that's going to follow all this compliance for you or supply you leads for free. So I would definitely consider that more so as a factor if you don't want to do option number two, which is becoming your own lead source. So this is something that Julian and I have been talking about for a while, is basically generating your own leads. We've been doing this for, you know, almost two years now. Been doing Facebook for, you know, like six, seven years, but been doing insurance leads for like two years.

Generating your own leads really separates you from all this stuff because whenever you generate a lead on Facebook, it's one person opting in to be contacted by you, meaning you don't have any of the issues with the compliance. So one of the big things that I think a lot of people are gonna do and a lot of people are gonna have to do is get into the lead generation game so they can bypass all the crap that other people are going to be dealing with. If you can generate your own leads and you have that unique advantage, like you're going to be so far ahead of all of these other agents that are just like, you know, slopping in the mud like pigs, just trying to figure out what, what to do, because it's going to be, it's going to be feast or famine out there for a while. So basically within six months. So six months from now, everybody has to have this compliance in place or they're going to start being fined. So the third way that I was kind of talking about was basically finding a lead vendor that's going to follow this for you, or finding a lead generator that will run ads on your behalf. So again, find an IMO that's going to do it, do it yourself, which is what we do. You know, we write 30k a month doing this for ourselves, or basically hiring an agency to do it for you. Now we're working on developing our own IMO that we're going to kind of launch and bring people on into a system. Ultimately, what I want to have is a system where people don't have to make dials. That's what we're working on developing at the moment. So eventually we will have an IMO where, you know, some people could come work at. If you want to go with the second option, which is learning to generate your own leads, you can click the link down below in the description because we do have a course that goes like all in depth and shows you how to do that. You don't have to take the course, but if you're looking at doing your own leads and want to bypass all the crap that's coming, I highly, highly, highly recommend checking that out. Click the link down below and you can book a call to see if that will be a good fit for you. But the last way is just kind of like look for a agency or a lead vendor that's going to run the ads for you and go that way. But ultimately I think this is probably going to be a good thing for the industry. It's going to cut down on a lot of the crap that seniors are dealing with and make it better for the serious agents. So let me know your guys opinion in the comments down below. Look forward to hearing from you guys and if you found this valuable let me know as well and let me know what you would like to see next from us. See you guys in the next one. Peace.