Insurance Lead Types Explained: Aged, Shared, Exclusive, and Live Transfer

Understanding the Lead Landscape

Before diving into individual lead types, it's important to understand how insurance leads are generated. Most leads originate from one of three sources: digital advertising (Google, Facebook, programmatic display, native ads), traditional advertising (TV, radio, direct mail), or organic channels (SEO, referrals, community events). A lead vendor acquires consumers through these channels, collects their contact information and insurance interest, and then sells that lead to agents.

The quality, cost, and conversion potential of a lead depends on several factors: how recently the consumer expressed interest (recency), how many agents will contact them (exclusivity), how much information was collected (data richness), and how the consumer was motivated to express interest (intent quality). Different lead types represent different positions on these spectrums, and understanding this framework will help you evaluate any lead offer.

Aged Leads: High Volume, Low Cost, Requires Persistence

Aged leads are insurance leads that are typically 30-90+ days old. They were originally generated as real-time leads, sold to agents, and either not contacted or not converted. After a period of time (usually 30, 60, or 90 days), the lead vendor resells them at a significant discount as "aged" inventory.

Pros: Extremely low cost per lead makes them accessible for agents on tight budgets. High volume availability means you can buy thousands at a time. Good for training new agents—the stakes are low, so mistakes don't waste expensive leads. If you have a persistent, systematic follow-up process, the math can absolutely work.

Cons: Low contact rates mean most of your dialing time produces no conversations. These consumers have likely been called by multiple agents already and may be annoyed or have already purchased coverage. Data accuracy degrades over time—phone numbers change, people move, circumstances evolve. Requires high call volumes and systematic multi-touch campaigns to be effective.

Best practices: Work aged leads in a predictive or power dialer to maximize contact attempts per hour. Use a multi-channel approach—call, text (with consent), and email. Focus on leads aged 30-60 days (beyond 90 days, ROI drops sharply). Filter aged leads by geography to match your licensed states. Track your contact and conversion rates religiously—if your effective CPA is higher than exclusive leads, the volume isn't worth it.

Shared Leads: Mid-Range Option with Competition Built In

Shared leads (also called "non-exclusive" leads) are real-time internet leads that are sold to multiple agents—typically 3-8 buyers per lead. When a consumer fills out a form requesting insurance information, their data is simultaneously delivered to several agents who compete to contact them first.

Pros: Significantly more affordable than exclusive leads. Higher quality than aged leads because they're real-time. The consumer has recently expressed active interest. Good balance of cost and quality for budget-conscious agencies.

Cons: Speed-to-lead is everything—the first agent to call typically wins, which means you're competing with 3-8 other agents in a race to the phone. Consumers may be overwhelmed by multiple calls and disengage. Conversion rates are inherently lower than exclusive leads because of competition. Can train consumers to "shop" agents against each other on price.

Exclusive Leads: Premium Price, No Competition

Exclusive leads are sold to a single agent or agency. When a consumer submits their information, it goes to one buyer only—no competition. This exclusivity premium means higher prices but also significantly higher contact and conversion rates.

Pros: No competition means higher contact rates and a better consumer experience. Consumers are only contacted by you, so they're more receptive and less fatigued. Higher conversion rates justify the premium price—effective CPA is often similar to shared leads despite the higher per-lead cost. Better consumer relationship from the start because they're not being bombarded by multiple agents.

Cons: Higher per-lead cost means tighter margins if conversion rates don't hit targets. Not all "exclusive" leads are truly exclusive—some vendors recycle leads as exclusive after they've already been sold as shared. Vendor quality varies widely. Requires careful ROI tracking to ensure the premium is justified.

Best practices: Verify exclusivity with your vendor—ask for documentation of their exclusivity guarantee and what remedies are available if leads are double-sold. Route exclusive leads to your best agents to maximize conversion. Follow up relentlessly—since you have no competition, you can take a more patient, consultative approach over multiple contacts. Negotiate volume discounts as you scale.

Real-Time Internet Leads: Fresh Intent, Digital Origin

Real-time internet leads are generated when a consumer completes an online form, clicks a digital ad, or interacts with an insurance comparison website. These leads are delivered to agents within seconds or minutes of the consumer's action. They can be sold as either shared or exclusive—the "real-time" descriptor refers to the delivery speed rather than the exclusivity model.

Key consideration: The source website and form design dramatically impact quality. A lead from a consumer who typed "Medicare plans in my area" into Google and filled out a detailed health questionnaire is fundamentally different from a lead generated by a clickbait ad promising "free government benefits." Ask vendors where their leads come from, what the form looks like, and what qualifying questions are asked. Request sample form URLs so you can evaluate intent quality yourself.

Live Transfer Leads: Pre-Qualified and On the Phone

Live transfer leads represent the premium tier of insurance lead generation. A lead generation company contacts consumers (through inbound or outbound methods), pre-qualifies them for a specific insurance product, and then transfers the live call directly to your agent. The consumer is already on the phone, has confirmed their interest, and has been screened for basic eligibility—your agent simply picks up a warm, engaged prospect.

Pros: The highest-converting lead type available to purchase. Zero dialing time—agents spend 100% of their time in conversations. Pre-qualification means agents aren't wasting time on unqualified prospects. Excellent for AEP when speed and volume matter most. Can be very efficient for new agents who struggle with outbound prospecting.

Cons: The most expensive per-lead cost. Quality varies enormously by vendor—some transfers are genuinely pre-qualified; others are barely screened. Call duration requirements from vendors (typically 90-120 seconds minimum before you can return a lead) mean you pay even for clearly unqualified transfers. For Medicare, you must ensure the vendor's pre-qualification process is CMS-compliant, including proper PTC and disclosure.

Referral Leads: The Gold Standard

Referral leads come from existing policyholders, business partners, or community connections who recommend your services to someone they know. They're the highest-quality lead type and typically cost nothing (or very little if you offer referral bonuses).

Why referrals convert so well: Trust transfer is the mechanism. When someone receives a recommendation from a friend or family member, they approach the conversation with an existing foundation of trust. They're not skeptical or defensive like a cold lead—they're pre-disposed to like you because someone they respect already vouched for you.

Building a referral engine: Referrals don't happen by accident—you need a systematic approach. Ask for referrals at the point of maximum satisfaction (immediately after a successful enrollment or claim resolution). Make it easy with a simple referral form or dedicated phone number. Consider a referral bonus program ($25-$50 gift cards for successful referrals are common and effective). Train agents to ask for referrals on every completed sale using a natural, non-pushy approach.

Inbound Call Leads: Marketing-Driven, Highest Intent

Inbound call leads come from consumers who call you directly—driven by TV commercials, radio ads, digital advertising, direct mail, or organic search. These consumers have taken the initiative to pick up the phone, which signals the highest level of intent.

Pros: Highest intent of any lead type—the consumer is calling you. No speed-to-lead issue since the consumer initiates contact. Higher average policy values because high-intent consumers are more committed. Builds brand recognition over time, creating a flywheel effect.

Cons: Most expensive to generate on a per-lead basis. Requires significant upfront marketing investment before seeing results. Call volume is unpredictable and dependent on media scheduling. Need adequate staffing to answer calls quickly—abandoned inbound calls are wasted marketing dollars.

Choosing the Right Lead Mix for Your Insurance Line

Different insurance products work better with different lead types. Here's a general framework based on what we see working across the industry:

• Medicare Advantage: Live transfers and exclusive real-time leads work best during AEP. Aged leads are effective for OEP and year-round SEP selling. Referrals from existing policyholders are the most efficient year-round source.
• Life insurance: Shared and exclusive internet leads are the workhorse. Live transfers work well for final expense. Aged leads (30-60 days) are cost-effective for term life. Direct mail leads still convert well for whole life and final expense products.
• ACA health insurance: Real-time internet leads during Open Enrollment are essential. SEP leads generated year-round from qualifying event searches. Shared leads work well because the product is price-sensitive and consumers benefit from comparison.
• Auto and home insurance: Real-time internet leads and inbound calls from comparison shopping. Shared leads work well because consumers actively price-shop. Referral programs are highly effective for cross-selling from auto to home and vice versa.

Lead Management Best Practices

Regardless of which lead types you use, how you manage them determines your ROI. Here are the practices that separate high-performing agencies from the rest:

• Track CPA by lead source religiously. You can't optimize what you don't measure. Track every dollar spent and every sale made, segmented by lead type and vendor. A lead management platform that integrates with your dialer and CRM automates this tracking.
• Implement a multi-touch follow-up cadence. Industry data shows that it takes 6-8 contact attempts to reach the average insurance lead. Most agents give up after 1-2 attempts. Build an automated cadence: call Day 1 (3 attempts), text Day 2, call Day 3, email Day 5, call Day 7, text Day 10, call Day 14.
• Route leads by agent strength. Your best closers should get your most expensive leads. Route aged leads to newer agents who need practice and exclusive/live transfer leads to your top performers who will maximize conversion.
• Negotiate return policies. Most lead vendors offer return policies for leads that are clearly invalid (wrong number, already deceased, wrong state, etc.). Document your return criteria and process returns promptly—most vendors have 24-72 hour return windows.
• Recycle unconverted leads. A lead that didn't convert today isn't dead—they may convert in 30, 60, or 90 days when their situation changes. Build a systematic re-engagement campaign for leads that were contacted but not converted. This turns your "sunk cost" leads into a free second chance at conversion.