Life insurance is a competitive market and it has gotten very difficult for individual agents to compete in this growing field. Major insurance companies dominate search engine ads and have driven up prices on ad placements. This makes it almost impossible for your average life insurance agent to compete. There are ways for insurance agents to find life insurance leads that slip through the cracks. Agents must find a niche in the life insurance sector to focus on. This will help the agent narrow down their scope and allow them to compete for online insurance leads that may otherwise be dominated by big corporations and aggregators.
Some good niche ideas for life insurance agents
The following target markets are one's that we have observed agents using around the United States. There was no scientific research done as to which ones work the best or which ones provide the best quality of lead. This depends a lot on the type(s) of life insurance products the agent can sell and the application process available. For example, an agent that cannot fill out an application online might not be able to do business via email or, for that matter, by phone.
1. Diabetic life insurance leads - If the agent can sell life insurance with a company that looks more favorably on people who have diabetes , they will be able to market to this sector and compete on Google Adwords. Specific pay-per-click keywords like "diabetic life insurance" are cheaper than broad ones like "life insurance quote". An agent dealing primarily with diabetics can set themselves up as the local specialist in this field. This can help advisors stand out in the plethora of local life insurance agents.
2. Cancer life insurance leads - People who have had cancer sometimes find it hard to get life insurance. Some agents specialize in helping this type of client. Once again the success of this niche relies on the agents ability to sell a certain type of policy. If the agent can sell a guaranteed life policy they can insure a client who might otherwise have been denied by other companies.
3. Burial/Funeral life insurance leads - Many people are just looking for life insurance to help them pay for the funeral and burial costs of a loved one who has passed. While these types of final expense policies do not generate huge commissions, they can be a great way of getting your foot in the door with a family. Once you have done business with a client they are more likely to come back to you when they need something else, say an annuity.
4. Mortgage protection life insurance leads - Research shows that when people are buying their first home, or any home for that matter, they will do hours of research online. This is where a life insurance lead could fall through the cracks. Lets say you advertise for a keyword such as "mortgage insurance", which is much cheaper than other life insurance keywords. By using this keyword you can generate life insurance leads online without blowing your marketing budget. When someone is searching for mortgage information they might come across your ad on a site and inquire about the product.
These are just a few examples to give agents an idea of how they can generate online life insurance leads inexpensively by picking a niche to specialize in. You can use almost any type of medical condition as a target market as well as countless others.
So how can one tell what niche might be beneficial for their business in their particular geographic area. A quick and easy to do this is to simply google certain niches in your area. If you find that there are already other agents who have cornered the market in your desired niche you will have to pick a different sector to focus on. Do not get discouraged if you have trouble finding your ideal niche. It will take time to establish yourself as the go-to-guy for your niche market, but once you do you will be able to generate quality leads on the web.
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