--- title: Stop the Price Madness! How to Attract Life Insurance Prospects description: Find out why providing value is the key and why offering the lowest price isn’t the best method for attracting life insurance prospects. image: https://blog.lwtagency.com/hubfs/LWTdontcompeteprice.jpg --- [Skip to content](https://blog.lwtagency.com/how-attract-life-insurance-prospects#main-content) [![LWT Agency](https://blog.lwtagency.com/hubfs/lwt-logo-1.png)](https://lwtagency.com) # LWT Agency Since 1927 - [About](https://lwtagency.com/team) - [Services](https://lwtagency.com/services) - [Resources](https://lwtagency.com/resources) - [Get A Quote](https://lwtagency.com/get-a-quote) - [Contact](https://lwtagency.com/contact) - [Producer Insights](https://blog.lwtagency.com) This is a search field with an auto-suggest feature attached. - There are no suggestions because the search field is empty. # Stop the Price Madness! How to Attract Life Insurance Prospects [LWT Agency](https://blog.lwtagency.com/author/lwt-agency) Apr 21, 2021, 12:00:00 AM No quod sanctus instructior ius, et intellegam interesset duo. Vix cu nibh gubergren dissentias. His velit veniam habemus ne. No doctus neglegentur vituperatoribus est, qui ad ipsum oratio. Ei duo dicant facilisi, qui at harum democritum consetetur. ![](https://blog.lwtagency.com/hubfs/LWTdontcompeteprice.jpg) You want to [attract the perfect life insurance prospects](https://blog.lwtagency.com/understand-your-life-insurance-prospects-to-close-the-deal). But you may feel defeated before you even start. IF you’re banking your business on offering the lowest price. It’s almost impossible to compete with lowest-priced carriers hawking their products on TV and the internet. Or is it? Research shows that while it’s a factor in the decision-making process, [price is definitely not the most important](https://medium.com/@OmerHazer/low-price-is-never-your-unique-selling-point-usp-3c648e328c68) one for generating life insurance leads. Instead, consumers most want peace of mind from the purchase, as well as confidence that their life insurance producer will guide them in the right direction. In fact, the majority of consumers will actually opt for the higher-priced product when they’re presented with more than one quote by independent insurance producers. That means they’re NOT tempted by the lowest available price.  In addition, these non-price sensitive consumers purchase premiums that are as much as 53% higher than the lowest-priced products. So how do you move from competing based on price to attracting life [insurance prospects](https://blog.lwtagency.com/life-insurance-prospecting-on-social-media-yes-it-works/) who want peace of mind? **Relationship. And marketing.** Throughout the customer’s life cycle, you can use your marketing system (or customer relationship management system) to create messages that offer value and build relationships so that your prospects see YOU as that person will give them peace of mind and act as their guide. Here’s how to use your marketing strategy to find the best [life insurance prospects.](https://blog.lwtagency.com/9-prospecting-tips-to-reel-in-a-massive-amount-of-life-insurance-leads) ## 1. Evaluate How Price-Selling Has Cost Your Business.  Selling on price is a short-term win.  You see, if your organization is trying to sell the same product as every other life insurance producer, but for less, you’ll have to cut costs somewhere – like your support systems or staff.  As a trickle-down effect, your customers’ experience will suffer.  Take some time to evaluate where you’ve had to cut corners to compete on price, and start to build systems that deliver a stellar customer experience. ## 2. Communicate Frequently.  You’ll need to develop a series of messages to send to prospects and clients that offer value and give you a means to stay in touch.  Think of ways that you can help them solve their everyday problems, and show how your products will benefit them.  A "nurturing" email flow is the perfect strategy to stay engaged and provide value at the same time.  Just be careful NOT to showcase your products and their features – that's not what this communication is all about. Nothing will turn off prospects quicker than [getting too salesy](https://www.saleshacker.com/how-to-build-trust/). Focus on solutions to problems. ## 3. Value, Value, Value.  It bears repeating: If you offer enough value to your customers, they won’t even consider taking a lowball offer from a competitor.  Come up with a comprehensive strategy for offering value at all stages of the customer’s life cycle, and you’ll be on your way to transforming your business. ## 4. Increase loyalty.  The [loyal client](https://blog.lwtagency.com/is-life-insurance-sales-all-about-leads-or-loyalty) is a valuable one, so you’ll need a plan for generating that feeling amongst your customers.  These customers will deliver a much higher return on investment (and recommend you to their friends and family) than continuously trying to hook the customer looking for the cheapest price. ## Offer Value and Attract Life Insurance Prospects Creating relationship-based marketing systems takes time and resources.  But it’s an endeavor that’s worthwhile, as you’ll position yourself as a go-to agent in the community, and one who offers more value than the competitor down the block. And it’ll give you a way to put the price struggle competition to rest, forever. *Originally published 1/17; Updated 4/21* [![New call-to-action](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/1853399/3ccacf7d-8654-45ff-bf24-07706783d18a.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/1853399/3ccacf7d-8654-45ff-bf24-07706783d18a) [Life Insurance](https://blog.lwtagency.com/topic/life-insurance) [attract life insurance prospects](https://blog.lwtagency.com/topic/attract-life-insurance-prospects) ## Related Posts ### [Jan 28, 2020, 10:00:00 AM How to Find Life Insurance Prospects Using Social Media](https://blog.lwtagency.com/how-find-life-insurance-prospect-social-media) ### [Jun 9, 2020, 11:25:29 AM Your Key to Success: Become an MDRT Level Life Insurance Producer in 2020](https://blog.lwtagency.com/mdrt-level-life-insurance-producer) ### [Aug 6, 2019, 10:00:00 AM Navigating Marijuana Usage for Life Insurance Prospects \[Video\]](https://blog.lwtagency.com/navigating-marijuana-usage-life-insurance) ![LWT Agency](https://blog.lwtagency.com/hs-fs/hubfs/tellus-campaigns/LWT-Color-Print-new2.jpg?width=215&height=112&name=LWT-Color-Print-new2.jpg) Securities offered through Simplicity Group, Inc. 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