Every insurance salesperson knows that leads are invaluable in the generation of life-sustaining commissions. While friends and family are a great place to start marketing, eventually one learns that there aren’t enough friends and family to make a career out of insurance and annuity sales. Great annuity insurance leads are hard to come by, especially as the space for providing them gets more and more crowded. One has to expect that, eventually, customers will be able to comparison shop from providers offering a commodity policy; but until that day – and the diversity of products out there seems to suggest that the day of commodity annuities is quite a ways away – sales leads and the personalized attention that follows them up will undoubtedly generate the most commissions for anyone who is genuinely interested in improving the lives of savers by providing them with valuable stability.
Leads have a number of points of origination, some of which are more effective than others. The most common but least reliable leads come from firms that aggregate demographic data and mine out the ‘types’ of people who purchase annuities for you to cold call. Other leads are hotter. For instance, many websites exist for the sole purpose of providing annuity quotes. Interested parties enter their contact information to receive a quote along with some basic policy information – principle, desired monthly payment, duration, age, etc – and that information is forward to a buyer of the information so that they can be engaged for a discussion and potential sale.
There are other lead generators as well. Independent brokers who don’t deal in insurance products or annuities will often make alliances with brokers in return for reciprocal references. These leads are often the most fruitful because a client who trusts his broker will trust the lead-getter by virtue of their relationship; and why not, since we say we can judge a person by the company he or she keeps?
Finally, many underwriters of annuity products will provide leads to their own salespeople. It is up to those salespeople to reach out to interested parties. This sort of support isn’t universal in the annuity business, but some companies believe that giving good annuity insurance leads to their sales force will enhance their long-term success by incentivizing the salesperson to sell a product that makes them and the company a good bit of money while also providing a real solution to the end customer.
Hi,
This is a nice post.Very useful and to the point article.
Here i like to add some more information.
I know of a lead generation system that is totally overlooked. It really works and it is virtually unused. So much money is spent trying to market annuities and agents overlook this simple, cost-effective method that is often right under their noses.
Mortgage protection leads. They work especially well if you have been selling annuities in the past. These leads are for a perceived need and any good salesperson can expand it to a fact finder and with a fact finder the opportunities for selling an annuity increase.
Thanks.
Comment by Annuity Ratings — April 23, 2009 @ 4:58 pm
[...] can also host seminars in order to garner annuity insurance leads. Many agents choose to host these types of seminars at hotels in conference rooms. By providing [...]
Pingback by How to Generate Annuity Insurance Leads « Market Entaire Blog — April 30, 2009 @ 12:37 pm
[...] of their retirement is based on. It’s very important not to come off as a salesman. Fostering annuity insurance leads is done through trust and relationship building, a bond that develops and grows over [...]
Pingback by Annuity Insurance Leads Are Gained Through Trusting Relationships « Market Entaire Blog — May 10, 2009 @ 2:44 pm
[...] trust that makes people want to get on board with your strategies. If you are looking at building annuity sales leads, first consider your approach to building clients. Impressions mean everything, right down to the [...]
Pingback by Success Tied to Generating Annuity Sales Leads « Market Entaire Blog — May 15, 2009 @ 2:14 pm
You know so many interesting infomation. You might be very wise. I like such people. Don’t top writing.
Comment by GarykPatton — June 16, 2009 @ 9:54 am
[...] an insurance agent, you know that garnering annuity insurance leads can be one of the most difficult challenges of the job. While you may be well-versed about the [...]
Pingback by How to find Annuity Insurance Leads « Market Entaire Blog — July 14, 2009 @ 9:28 am
[...] are a number of different ways to come up with annuity insurance leads. If you want to continually procure high quality leads you will have to change with the times and [...]
Pingback by New Methods for Generating Annuity Insurance Leads « Market Entaire Blog — July 16, 2009 @ 11:00 am
[...] solid annuity insurance leads is not an easy task. There are a number of different ways that agents come up with the leads and [...]
Pingback by Generating Annuity Leads « Market Entaire Blog — September 30, 2009 @ 10:27 am
[...] downsides of using this method for garnering annuity insurance leads is that it can be very expensive, you must constantly pay for the service to keep finding new [...]
Pingback by Obtaining Leads « Market Entaire Blog — October 13, 2009 @ 12:10 pm
[...] is the best place to find annuity insurance leads? Many agents would love to know the answer to this question. This subject has perplexed many agents [...]
Pingback by Methods for Garnering Leads « Market Entaire Blog — November 15, 2009 @ 12:23 pm
[...] After being an insurance agent for the past two decades I noticed that I was having a difficult time coming up with annuity insurance leads. [...]
Pingback by Time to Find New Methods in Prospecting for Annuity Insurance Leads « Market Entaire Blog — December 22, 2009 @ 9:44 am
[...] pays off more in the long run; using gimmicks to find annuity insurance leads or developing a long range sales strategy? Some agents use ad campaigns and other marketing blitzes [...]
Pingback by Comparing Methods of Finding Annuity Insurance Leads « Market Entaire Blog — March 5, 2010 @ 7:09 am