Life Insurance Agents: Stop Using Illustrations in Policy Reviews

Posted by Michelle McKinley on Tue, Oct 10, 2017

Ten Reasons to Get Rid of Illustrations in Life Insurance Policy Reviews

Life insurance policy reviews are needed, and they’re a terrific way to attract new clients. Disappointment in the performance of life insurance products often stems from the misuse of illustration comparisons. Here are six reasons why life insurance agents should stop using illustration comparisons in policy reviews.

Figures Lie

Illustrations are often based on hypothetical situations. Projected policy values are calculated using assumptions – not truths. Assumptions can be manipulated by the insurer or the broker.

Complicates Decision-Making

Illustrations are often comprised of hundreds of numbers, and based on thousands of calculations. Explaining all this data to a client is challenging, and can lead to misinformed decision making.

Wastes Client’s Time

Illustration comparisons require explanations which wastes the client’s and your time.

Hinders Relationship Building

Most insurance business comes from referrals, and referrals come from building a solid relationship with your client. A good relationship requires trust and faith. To earn your clients trust, you need to share the truth. Comparing illustrations of hypothetical policy values hides essential information from your client. Instead of creating an illustration, answer questions customers want to know.

Increases Risk of Dissatisfaction

Hypothetical comparisons encourage behavior that might not be in the client’s best interest. When clients make uninformed decisions, their risk for underperformance and disappointment with the product increases.

Hides Weaknesses

Life insurance policy costs vary by as much as eighty percent. Hypothetical life insurance comparison illustrations combine actual costs with performance assumptions. Once mixed, these illustrations often hide high costs.

Instead of using illustrations, use detailed expense pages. Measure these costs against alternatives to identify truly competitive products for your life insurance clients. You’ll get more referrals by building good relationships with your clients built on trust.

Need exclusive insurance leads for your business? Parasol Leads sells exclusive insurance leads from several verticals including life, auto, health, home and annuity insurance. Contact us to learn more about our exclusive insurance leads, and how you can sign up.

Tags: exclusive life insurance leads, buying life insurance leads, life insurance

How to Shop for Exclusive Life Insurance Leads

Posted by Michelle McKinley on Wed, Sep 20, 2017

Get More Exclusive Life Insurance Leads and Close More Insurance Sales

Exclusive life insurance leads are a hot commodity. Your life insurance business relies on a steady stream of high quality insurance leads that your sales team can prospect and close. Generating life insurance leads is extremely difficult both from an organic and paid perspective. Managing social media takes time, knowledge and money. Meeting CPA goals on Google AdWords is near impossible thanks to highly competitive keywords and high CPCs.

Life Insurance Lead Aggregators

That’s where life insurance lead aggregators come in. Companies that specialize in life insurance lead generation have the experience and insight to be able to generate a high volume of life insurance leads. They handle the marketing for you, so that your agents can focus on closing prospects and generating insurance sales. Life insurance lead aggregators generate insurance leads in a variety of ways including search engine optimization, email marketing, paid search campaigns and social media.

The Difference Between Shared and Exclusive Life Insurance Leads

Life insurance lead aggregators offer both shared and exclusive life insurance leads. Exclusive leads are not shown to other buyers, and therefore convert at a higher rate. However, they are priced higher because of their exclusivity. Shared leads may have been shown to other life insurance agents, which increases competition for the sale. If you’re on a budget, shared life insurance leads are cheaper and more affordable.

How to Buy Exclusive Life Insurance Leads

You can buy exclusive life insurance leads directly from Parasol Leads. Simply sign up using our short web form to gain access to our highly qualified exclusive life insurance leads. Our life insurance leads are generated through various efforts including organic, paid, email and social media. We target consumers actively searching for life insurance, have expressed interest in the product, or who have recently purchased similar products.

Our exclusive life insurance leads cost $35 per lead. We have conversion rates as high as 40% based on customer feedback. You can read Parasol Leads reviews here.

Contact us today to learn more about our exclusive life insurance leads and other insurance leads we offer. Start closing more insurance sales with help from Parasol Leads.

Tags: exclusive life insurance leads, buying life insurance leads, life insurance lead generation, life insurance leads, life insurance sales

5 Prospecting Tips for Insurance Agents That Really Work

Posted by Michelle McKinley on Fri, Sep 01, 2017

Generate more insurance leads with these prospecting tips

The fourth quarter is around the corner. If you’re not on track to hit your annual sales goals, you still have time to turn things around. Insurance agents must utilize a variety of prospecting methods in order to generate enough leads to prosper. Here are just five prospecting tips to keep in mind for the end of Q3 through Q4.

Use Multiple Insurance Lead Generation Strategies

There is no one great method for generating insurance leads, but hundreds of good ways. The more strategies you utilize, the more insurance leads you’ll generate. Diversifying your insurance lead generation strategies will help you generate more leads, help you test quality, and allow you to optimize.

Win on the Web

The internet is one of the greatest sources for insurance leads. However, the internet is saturated with insurance lead generation websites, making it expensive and difficult to stand out. The key to converting is a strong online brand, a website that provides a good user experience, and top positioning on organic Google search results.

Specialize in Something

While many insurance agencies offer multiple types of insurance in order to diversify and grow revenue, this isn’t always the best strategy. By offering too many products, you tell consumers you don’t specialize in any one type of insurance. In some cases, it’s better to seem like an expert at a few things, than mediocre at a lot of things.

Score Referrals

Garnering referrals is still one of the best lead generation strategies. People trust the word of those they know, so a referral from a customer goes way further than a PPC ad. Create a referral program that makes it easy for your customers to do the work of advertising for you. Rewarding customers for referrals is a great way to get more of them.

Build an Outbound Strategy

Direct email converts at a higher rate than paid search and social marketing campaigns. Build a list, and get prospects and existing clients to opt-in. It’s a great way to cross sell additional insurance, and gain new clientele.

Tags: insurance leads for agents

Indexed Universal Life Insurance Sales Hit New High

Posted by Michelle McKinley on Thu, Jul 06, 2017

Capitalize on the Industry Climate with Life Insurance Leads for Agents

Year over year life insurance premium revenue was up 18 percent at the end of 2016 despite industry concerns about an 18-month-old regulatory guideline for indexed universal life insurance. Sales of universal life insurance remain strong, new research shows.

In the 78th edition of Wink’s Sales & Market Report, it was revealed that the IUL premium revenue for the three months ending in December 31, 2016 totaled $534.5 million. That’s up 18 percent from third quarter sales of $452.9 million.

How to Capitalize on the Market

This study and others like it, continue to prove that demand for life insurance is high. To capitalize on this market trend, life insurance agents are buying life insurance leads to supplement marketing and prospecting efforts.

With exclusive life insurance leads, agents can spend less time cold calling and more time following up on quality leads. Working with an insurance lead generation company is easy. The lead buyer signs up, and sets filters. Lead filters include age and other demographics that fit your lead criteria. The buyer only buys those leads that fit their specified filters.

The best insurance lead generation companies allow returns. That means very little risk for the insurance agent. You keep the quality leads, and return any that are bad. Lead prices range from expensive to cheap depending on if you’re looking for exclusive life insurance leads or shared.

Contact Parasol Leads to capitalize on the rise in demand for life insurance. Get exclusive life insurance leads from Parasol Leads now.

Tags: exclusive life insurance leads, buying life insurance leads

Repealing the Estate Tax Might Affect Life Insurance Sales

Posted by Michelle McKinley on Wed, Jul 05, 2017

Trump Administration Puts Repealing Estate Tax on It’s Priority List

The Trump Administration has made it clear that repealing the estate tax is on the top of their priority list. In April 2017, LIMRA asked 24 U.S. insurers how they thought this would affect life insurance sales. Find out how your insurance business will be effected, and learn how insurance leads can help.

Current federal estate tax laws only apply to estates exceeding $5.49 million per person. Americans can leave an unlimited amount of assets to spouses, so the threshold for married couples is $10.98 million. Roughly 0.2% of Americans, or one out of every 500 people who die are impacted by the estate tax. The estate tax also applies to family-owned businesses and farms.

Four percent of the life insurance market includes survivorship life insurance which is intended to pay federal estate taxes and other estate settlement costs. Survivorship life insurance also makes up ten percent of premium for companies who offer it annually.

All life insurance carriers surveyed – which represents 64% of the survivorship life insurance market – believe that repealing the estate tax would have a negative impact on survivorship life insurance sales. Four in ten carriers think it would have a significant negative impact on survivorship life insurance sales, and 54 percent think it would have a minor negative impact on life insurance sales overall.

Six in ten of the carriers surveyed do not expect the U.S. estate tax law to change this year, but if repealed those surveyed believe it would have a negative impact on life insurance sales the following year.

How ParasolLeads Can Help

Increase life insurance sales with the best insurance leads on the market. Parasol Leads is the best insurance leads company because we deliver high quality life insurance leads in real time. Learn more about our life insurance leads.

Why Demand is Growing for Life Insurance Leads

Posted by Michelle McKinley on Mon, Jul 03, 2017

Demand for Life Insurance Leads is Growing Making it Harder for Agents to Prospect

Insurance lead generation has been a competitive space for several years now. Saturation and demand are only growing, as many companies enter into the space to grow revenue. Unfortunately, there is a finite amount of people eligible each year. Buying life insurance leads for agents can help businesses looking to get into, or expand, life insurance sales.

The retail life insurance industry is hard to break into and succeed in. The Bureau of Labor Statistics reports that there are 443,000 life insurance agents in the U.S. By 2022, they estimate that another 45,900 life insurance agents will enter into the labor force. With a US population of 321 million in 2015, the size of the life insurance industry means that there’s one agent for every 726 people in the states. This provides a tough environment for an agent who makes a living on commissions from sales.

Why Life Insurance Agents Quit

Many life insurance agents quit, because it’s too difficult to find insurance life leads. Finding prospects is challenging, even with the support of a marketing team – which many life insurance companies don’t have. As a result of the competitive market, many life insurance agents quit without having been given a real chance to succeed. Insurance companies can retain agents and grow business by providing leads for life insurance.

Exclusive Life Insurance Leads

An insurance leads company can provide exclusive life insurance leads for agents to help retain agents and increase sales despite demand for leads being high. These leads are only sold once, and are delivered in real time. Purchasing real time life insurance leads is important, because an aged lead is harder to convert. Their exclusivity gives insurance agents the edge on a hot lead. Not all insurance lead generation companies are equal. Make sure to read life insurance leads reviews before buying exclusive life insurance leads.

Choosing the Best Life Insurance Leads Program

There are several steps agents should take before choosing a life insurance leads program. First, review the terms of the lead aggregator. The best life insurance leads program will allow the buyer to return bad or fraudulent leads. You should be able to choose between shared and exclusive life insurance leads, and you should be able to set filters. Filters help agents pre-select the types of criteria they require from leads – helping the seller to qualify leads before sending them over. Next, check life insurance leads reviews to determine whether or not you can trust the company to provide quality leads.

Parasol Leads is a top industry provider of shared and exclusive life insurance leads. We work hard to keep our clients happy and our quality high. Contact us to learn more about our life insurance leads program and buy leads for life insurance. Read Parasol Leads reviews now.

Tags: exclusive life insurance leads, life insurance leads, real time life insurance leads

Why Use a Lead Aggregator for the Best Health Insurance Leads

Posted by Michelle McKinley on Thu, Jun 29, 2017

More health insurance agents are buying their health insurance leads

Parasol Leads is a Los Angeles based insurance leads generation company that services the health insurance industry. We've seen the demand for health insurance leads grow tremendously over the past few years - and the reason why is clear. Health insurance agents are always searching for the best health insurance leads to help reduce prospecting time and grow sales. It's also increasingly more difficult to generate health insurance leads in-house.

Parasolleads benefits include:

  • Health insurance leads that are delivered in real time from prospects actively searching for health insurance quotes
  • Medicare supplement leads exclusive also available
  • Custom filters
  • Great return policy
  • Award winning customer service

Why Health Insurance Agents Use Lead Providers

Finding high quality health insurance leads is challenging in today’s competitive marketplace. Getting started can be overwhelming with all the options thrown at agents including ad networks, social networks and email marketing platforms. Despite the challenges, there’s no denying that online is where it’s at. Your insurance customers are shopping for health insurance online.

Three in ten consumers have used one or more insurance lead generation sites to search for health insurance quotes, according to a 2012 insurance shopping study by ComScore. Moreover, about 50% of consumers reported visiting lead aggregation sites like the ones Parasol Leads manages to obtain insurance quotes. Insurance businesses that opt out of purchasing health insurance leads are missing out on one of the top sources for the best health insurance leads for agents.

Young consumers showed the most interest in purchasing health insurance on the internet. According to the study, 31% of consumers between the ages of 25 and 44 said they would prefer to buy health insurance directly – 75% citing the internet as their preferred means of direct purchasing.

By adding a health insurance lead generation company to your lead generation efforts, you can significantly impact your sales pipeline. Let agents spend more time on the phones closing than prospecting.

Why ParasolLeads?

ParasolLeads is an award-winning health insurance lead provider. By adding our services to your lead generation arsenal, you can grow business faster than ever before. We target those consumers actively searching for health insurance coverage. We reach consumers where they spend time most – online, on social and on their mobile devices.

Leverage ParasolLeads as your health insurance prospecting source, and invest your marketing dollars on promoting your brand, and upselling and cross-selling to existing clients. You can trust ParasolLeads to pass over the best health insurance leads to help you convert at a higher rate. Sign up to buy the best health insurance leads available. Become a ParasolLeads client today.

Tags: medicare supplement leads, insurance lead generation companies, health insurance leads, best health insurance leads

What Annuity Insurance Leads Can Do for Your Business

Posted by Michelle McKinley on Wed, Jun 28, 2017

Grow Your Insurance Business with Annuity Leads for Agents

Annuities are considered both insurance and investments, because the client invests money and the carrier of the annuity guarantees payment of the annuity. Clients often look to protect themselves from outliving their investments. Annuities can offer clients a tax-deferred investment, which many investors find attractive. If you’re looking to grow your insurance business, it’s time to consider annuity insurance leads.

Many employers are beginning to shift the responsibility of retirement savings to the individual, so more people are looking to invest their money in personal retirement options than ever before. Many insurance agents find annuity insurance sales rewarding, because they have a job that involves helping their clients obtain financial security for retirement.

Selling annuity insurance can provide substantial income, with average commissions of around seven percent. Annuity insurance agents can make $7,000 by selling just one $100,000 annuity.

Why buy Annuity insurance leads?

The fastest way to grow your annuities business is to purchase qualified annuity leads. Many lead generation companies have annuity leads for sale, but what sets Parasol Leads apart is our extensive offering of quality annuity leads. We sell real time annuity leads for agents to help insurance businesses like yours grow.

Generating your own annuity leads takes hours of manpower. Successful lead generation departments have several SDRs prospecting for leads with outbound efforts, while marketing teams focus on growing inbound leads. Many insurance companies are small businesses, which makes it difficult to scale insurance lead generation efforts.

Parasol Leads can help. We provide the outbound and inbound demand generation team you need to achieve the lead volume you want. Contact us today to learn more about our annuity leads for sale or sign up to become an annuity insurance leads buyer with Parasol Leads.

Tags: annuities, qualified annuity leads, annuity leads, annuity insurance leads, annuity leads for agents

Life Insurance Sales Set a Record in Q1 2017

Posted by Michelle McKinley on Wed, Jun 21, 2017

Life Insurance Sales Resulted in Record High Q1 Numbers

First quarter indexed life insurance sales were $446.5 million. That number is down 16% compared to Q4, but up over 3.4% compared to Q1 2016. “This quarter, indexed life insurance sales were greater than they have ever been in any first quarter, since their introduction 20 years ago,” said Sheryl J. Moore, President and CEO of both Moore Market Intelligence and Wink, Inc. When asked about the life insurance sales decline from last quarter Moore said, “I don’t find the sales decline from last quarter remarkable; that is just a cyclical trend in sales of life insurance products.”

The Wink Sales & Market Report is the insurance industry’s number one resource for indexed life insurance sales data since 1997. It recently expanded to included fixed universal life insurance and whole life products. One hundred life insurance carriers participated in the 79th edition of the report.

Total Q1 non-variable universal life insurance sales were even higher at over $930.3 million. Non-Variable universal life insurance sales include both indexed and fixed universal life insurance product sales.

The survey named Prudential as the number one carrier overall for non-variable universal life insurance sales, with a market share of 6%. Transamerica took second place for non-variable UL, but did have the number one selling product for non-variable universal life insurance sales for all channels combined in the first quarter. Transamerica retained the number one ranking for indexed life sales with an 11.2% market share.

Additional life insurance products will be added to Wink’s Sales & Market Report in coming quarters. The firm will be focusing on increasing participation with their current product lines of indexed universal life insurance, traditional universal life, indexed whole life and traditional whole life insurance product sales.

Now is the time to expand your life insurance business. Grow your insurance sales with exclusive life insurance leads for agents from Parasol Leads. Learn more about our life insurance lead generation services today.

 

Tags: insurance sales, exclusive life insurance leads, life insurance leads

Life Insurance Premium Trends and What They Mean for Your Life Insurance Leads

Posted by Michelle McKinley on Tue, Jun 20, 2017

Life-Insurance-aged-leads-300x207.jpg

Life Insurance Sales and Premiums Are Up

Now is a great time to be selling life insurance. Premiums and sales are on the rise, but what does it mean for life insurance lead generation? The best life insurance leads for agents are exclusive and come from targeted marketing efforts. As more and more agents make the switch to life insurance sales, will the pool of exclusive life insurance leads dry up?

The individual life insurance new annualized premium increased 5% in Q1 this year compared to Q1 2016, according to LIMRA’s First Quarter 2017 U.S. Individual Life Insurance Sales Survey.

About 60 percent of the companies participating in LIMRA’s survey reported sales growth, including nine of the top 10 insurance carriers. “U.S. individual life insurance premium sales increased all but one year since the Great Recession in 2009, and 2017 has started off solid with growth across every product line except for variable universal life,” according to Ashley Durham, associate research director, LIMRA Insurance Research. “LIMRA expects growth to remain positive throughout the year, with whole life and universal life insurance continuing to drive results.”

While individual life insurance grew, the total number of policies sold in Q1 decreased 2%, compared with the same quarter in 2016. Variable universal life insurance premiums fell 3% in Q1.

Whole life insurance products continue to enjoy positive growth numbers. In Q1, whole life insurance premiums grew 7%, with eight of the top 10 insurance companies reporting growth. Whole life insurance premiums have increased for the past 11 years. Term life insurance premiums also saw an increase after declining in Q4 of last year.

Take advantage of the current state of the market. Now is the time to purchase exclusive life insurance leads. For the best life insurance leads for agents, contact Parasol Leads and become a lead buyer. Our leads are competitively priced, high quality and convert. Leverage the demand for life insurance, and become a top seller with life insurance leads from Parasol Leads.

Tags: exclusive life insurance leads, buying life insurance leads, life insurance leads