When picking geographical areas to sell final expense in, I've got a few opinions on what are more optimal areas to sell into versus others.
Let me preface that with this. There is no best final expense area. The truth is that everybody needs life insurance. Most people don't have enough.
Now, there are some fundamental constraints on final expense leads, like not working wealthy neighborhoods and not purposely marketing to people in their 30's and 40's.
What it ultimately comes down to is what areas YOU like working the best. I can tell you what those are going to be and what mine are and what reasons led me to prefer one particular type of area over another to work.
Let's go ahead and start with my top 3 favorite areas to sell final expense:
#1. Rural Small-Town America.
This is my absolute favorite! And the reason is that, there's less agent saturation, so you don't have as much competition or worry about somebody beating you to the lead before you get there.
The people tend to be nicer. So usually the interactions with these people are simpler. They're nice and are willing to give you some time to talk to them about selling final expense, and the quality of business tends to be better than others.
Additionally, Small Town America commonly have checking accounts, balance their checkbooks, do a better job of being financially responsible.
It took me several years of selling final expense before I worked rural markets, and I regret not doing it sooner because more often than not, every time I work rural areas I always get very great results, as well as my agents that work with me.
I find that they experience really good results working in small-town America or rural areas.
What would a rural area be like? A rule of thumb is to look an hour outside of a big city and look for small pasture towns. Those are what I would consider a small rural areas.
#2. Manufacturing Towns
Manufacturing towns would be towns that I would call "big-small towns." They've got a base of manufacturers, lots of different industries, but aren't necessarily huge metropolitan areas, like New Jersey or Trenton. Maybe they're adjunct to a bigger town, but are smaller in nature.
I've got a favorite county to sell final expense in that fits this description perfectly and I've worked it consistently. Ninety percent of the time I always do really well working it and I just have done very well with that particular area.
Wherever there's a big-small town or a manufacturing-type of town, I always recommend agents to go there to sell final expense. The reasons I like it are, (a), you're more consolidated than in a rural area so you can pack more appointments in and door knock more efficiently, and (b), a lot of these people who are in manufacturing blue-collar towns tend to be either on disability, or they've not made a lot of money and so their insurance usually was tied into their work. When they retire or when they get close to retirement, they're open-minded about having their own insurance plan, so it tends to be a net benefit if you go after these people for those two reasons.
#3: Suburban Communities
This is one of those where you've got to be very careful. A suburban community is usually a borough of a larger city, but tends to be more blue-collar in nature. What you don't want to do in a suburb is work a white-collar type of area. It just doesn't mesh well with final expense sales. You'll get a lot of final expense leads back, but they're not going to be interested in buying many times.
What kind of suburban areas are good to sell final expense in? Again, more blue-collar neighborhoods, maybe an older town in the sense that it's been around a long time and there's not a lot of new construction, single level brick-type homes, residents skew older.
In Chattanooga we have a town like that. Red Bank is next to Chattanooga and is very similar to that, as well as East Ridge, another town very similar. Very blue-collar, small houses, but just reflects the kind of income level that would buy life insurance. They're easier to door knock. They're more consolidated. They typically are a little tougher at the door because the get prospected a lot more than rural or big-small town types. That's why I keep them third on my list. They're good, but they're a little bit more hammered by agents and are a little less approachable than the other two.