The Senior Market
Older Americans are living longer, and with more money, than previous generations, according to a new government report on aging. The report, Older Americans 2008: Key Indicators of Well-Being, comes from the Federal Interagency Forum on Aging-Related Statistics. It predicts that there will be 71.5 million people aged 65 and older in the U.S. in 2030 — twice as many as in 2000 — because of the aging baby boomers and greater life expectancy. Here are some other interesting facts:
Between 1983 and 1998, according to a recent AARP report, for Americans over 50:
Total wealth increased from $7.6 trillion to $28 trillion;
Median net worth increased 36%, to $134,000;
Family and personal income each increased 17% (all figures inflation-adjusted);
The poverty rate fell to an all-time low of less than 10%.
The Baby Boomers
Baby Boomers, the phenomenally large group of men and women born between the years of 1946 and 1964, represent over 26 percent of the population, according to a recent study by the Mature Market Institute of MetLife.
While many markets have spent years trying to appeal to younger generations, more and more industries are taking notice of the 78 million Baby Boomers who are shaping many areas of the marketplace.
According to the MetLife study, Baby Boomers have an estimated spending power of $1 trillion, attesting to their strong presence in the marketplace. And, with more and more Baby Boomers approaching retirement, many insurance professionals are finding it a necessity to switch gears and target older adults rather than or in addition to young adults.
The Silver Care Advantage
A Marketing Machine At Your Service
We offer seminars, leads and qualified pre-set appointments. We handle all the marketing! This allows you to do what you do best: Present and Close!
Our model offers higher compensation while providing appointments compared to what other agencies offer for self generated business only.
World Class Agent Support
We offer low tech and high tech solutions to our Agents. We have internet resources that enable you to run your whole business through our Online Agent Resource Center. When you need immediate assistance, you can call us and actually talk to someone! We have sales coaches and product specialists at your disposal.
Streamlined Yet Diverse Product Line
We have contracted with only the best carriers with the best products. This means no guess work or doubt that you are providing your clients with the best solutions.
This increase in senior’s wealth creates a tremendous opportunity for Agents who have a focus in senior financial services. This opportunity can be realized through a partnership with Silver Care.