One to Watch: Colonial Penn Life Insurance
Similar to the solid effort from SBLI (see "Archive Report: Insurers Address Economic Fears"), Colonial Penn Life Insurance makes the economic fears that nearly all prospects face today the focus of its mailing. The #10 envelope employs a teaser that is sure to get the attention of most folks today: "Find out how 35¢ per day can go a long way in today's economy ... And receive a valuable FREE GIFT, too!" (Archive code #425-171748-0908). Wow, two reasons to inside the envelope!
Also, the outer uses two windows, one showing the prospect's address and the other displaying the "35¢ per day" part of the teaser. Smart, and perhaps indicative that the amount is personalized by state. Inside is a dual-sided letter and a yellow BRE (yellow has been shown to improve response, and this outer also uses the description "information request" in the cornercard area).
Both sides of the letter are chockfull of copy, but laid out in such a way that allows it to remain readable. In the Johnson box area, is a check-like blue background to announce Colonial Penn's "Whole life Insurance at an affordable, fixed rate that will never go up and protection that will last!" and that it's "Budget-Friendly at less than 35¢ per day" (what showed through the window).
The letter opens with talk about the economic reality: "Let's face it. Times are tough. The price of food is at an all-time high. And gas prices are not far behind. Even the cost of dying is so high that, as the saying goes, no one can afford to do it anymore."
That's another attention-grabber and an unusual (and morbid!) one at that. The second paragraph goes further: "How much? The national cost of a funeral, according to the National Funeral Directors Association, is over $7300." In the next paragraph, the writer brings it back to Colonial Penn's insurance: "At a time when the cost of nearly everything is going up, up, up ... isn't it nice to know that you can ease the financial burden of your final expenses—at an affordable, fixed rate you can lock in for life!"
The back page of the letter mentions that prospects who already have life insurance may be underinsured, and also discusses how "cash value" is built after the first year.
Lastly, making the letter more engaging, it employs icons for the three response mechanisms: BRE, phone and website. It also shows the premium on the back side of the quote form perfed to the bottom of the letter. It even positions the premium like a buckslip often does—as a "useful guide to Social Security."