A recent survey indicates that a considerable number of life insurance leads have yet to be reached out to.
The poll, "The Voice of the Life Insurance Customer," which was conducted by Deloitte, found that a prime reason why many individuals don't have life insurance coverage stems from the fact that they haven't been approached about buying a product from an agent or insurance carrier.
According to Deloitte, approximately one in every three respondents noted that they had never been made an offer about whether they'd be willing to buy a policy. Had they been, it likely would have resulted in a sale, as 45 percent of nonbuyers said they considered life insurance to be among their top five financial priorities.
Rebecca Amoroso, vice chairman and insurance leader for Deloitte, said that the poll indicates many Americans see the benefits that come with obtaining a policy.
"From our survey it is clear that life insurance is very much on the minds of many consumers," said Amoroso. "A significant percentage of respondents have simply not been offered coverage recently. Not soliciting their business exacerbates this gap between insurers' interests and consumers' needs."
The survey also found that while consumers generally understood what life insurance provided, they weren't entirely clear about the specifics. For instance, Sam Friedman, who led the research projected, noted that many didn't realize that life insurance could be used as a source of cash in retirement, to pay for an adult child's college education or as a source of money for emergency situations.
Amoroso added that insurers may want to take note of this survey, as it suggests that through better marketing efforts, they may be able to turn more of their insurance leads into sales.
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