Insurance Lead Glossary
Key terms and definitions every insurance agent should know when evaluating lead sources and managing their pipeline.
- AEP (Annual Enrollment Period)
- The period from October 15 to December 7 each year when Medicare beneficiaries can change their Medicare Advantage or Part D prescription drug plans. This is the highest-volume season for Medicare lead generation.
- Aged Leads
- Insurance leads that were generated days, weeks, or months ago and are sold at a discounted price. Aged leads typically cost $1–$15 depending on age and vertical. While contact rates are lower than real-time leads, they offer excellent ROI for agents with strong follow-up systems.
- CMS (Centers for Medicare & Medicaid Services)
- The federal agency that administers Medicare and oversees the ACA marketplace. CMS sets compliance rules for Medicare marketing and lead generation that all agents and lead vendors must follow.
- Close Rate
- The percentage of leads that convert to a sold insurance policy. Industry benchmarks vary by format: live transfers 15–30%, exclusive web leads 5–15%, aged leads 2–6%.
- Cost Per Acquisition (CPA)
- The total cost of marketing and leads required to acquire one new customer. Calculated by dividing total lead spend by the number of policies written.
- Exclusive Leads
- Insurance leads sold to only one agent or agency. Unlike shared leads, exclusive leads are never resold, resulting in higher contact rates (60–80%) and better close rates. InsureLeads delivers all real-time web leads and live transfers on an exclusive basis.
- FMO / IMO (Field Marketing Organization / Independent Marketing Organization)
- Wholesale insurance distribution companies that provide agents with carrier appointments, training, and sometimes lead programs. FMOs and IMOs often purchase leads in bulk from vendors like InsureLeads for redistribution to their downline agents.
- Lead Return Policy
- A vendor policy that allows agents to submit leads with invalid contact information for credit or replacement. InsureLeads offers a 72-hour lead return window for leads with verifiably incorrect phone numbers or email addresses.
- Live Transfer
- A lead delivery format where a trained intake agent screens a consumer for eligibility and interest, then warm-transfers the call directly to the purchasing agent in real time. Live transfers have the highest close rates (15–30%) because the prospect is already on the phone and expecting the conversation.
- Medicare Advantage (Part C)
- An alternative to Original Medicare offered by private insurers. Medicare Advantage plans bundle Part A, Part B, and usually Part D into a single plan, often with additional benefits like dental, vision, and hearing.
- Medicare Supplement (Medigap)
- Supplemental insurance policies that cover out-of-pocket costs not paid by Original Medicare, such as copayments, coinsurance, and deductibles. Medigap plans are standardized by CMS into lettered plan types (Plan G, Plan N, etc.).
- OEP (Open Enrollment Period)
- For Medicare: January 1 to March 31, when beneficiaries can switch Medicare Advantage plans or return to Original Medicare. For ACA: typically November 1 to January 15, when consumers can enroll in marketplace health insurance plans.
- Organic Leads
- Leads generated through non-paid search engine traffic, educational content, and SEO campaigns. Organic leads tend to have higher intent than paid advertising leads because the consumer actively searched for information rather than clicking an ad.
- QLE / SEP (Qualifying Life Event / Special Enrollment Period)
- Life events — such as marriage, divorce, job loss, relocation, or aging off a parent's plan — that allow consumers to enroll in health insurance outside of the standard Open Enrollment Period. SEP triggers create year-round lead generation opportunities for ACA agents.
- ROI (Return on Investment)
- The ratio of net profit to total lead investment, expressed as a percentage. An ROI of 200% means you earned $2 in profit for every $1 spent on leads. InsureLeads provides an ROI calculator to help agents project returns before purchasing.
- Speed to Contact
- The time between lead generation and the agent's first outreach attempt. Industry data shows that contacting a lead within 5 minutes increases conversion rates by 8x compared to waiting 30 minutes. Live transfers eliminate speed-to-contact concerns entirely.
- T65 (Turning 65)
- Marketing term for consumers approaching their 65th birthday who are aging into Medicare eligibility. T65 leads are among the most valuable in the Medicare vertical because these consumers are making first-time Medicare decisions and need agent guidance.
- TCPA (Telephone Consumer Protection Act)
- Federal law regulating telemarketing calls, auto-dialed calls, pre-recorded messages, text messages, and unsolicited faxes. TCPA requires prior express written consent before contacting consumers for marketing purposes. Violations can result in penalties of $500–$1,500 per call. All InsureLeads are generated with documented TCPA consent.
- Web Leads
- Leads generated when a consumer fills out an online form expressing interest in insurance coverage. Web leads include the consumer's contact information and basic coverage preferences. They are delivered to the agent via email, SMS, or CRM integration within seconds of form submission.