With over 75 million baby boomers set to retire by 2030 in what some are calling “The Great Retirement,” the path is wide open for insurance agents pursuing the senior market. 

Many facets of life change as people age. Technology becomes hard to keep up with, relationships take greater precedence, and good health becomes a high priority. These are all areas where insurance agents can assist seniors in this phase of life by helping them with their various insurance needs. 

By getting better acquainted with seniors and their needs in this season of life, insurance agents will serve their senior clients well. We have some timely tips to help you along the way.  

Perfect the Art of Small Talk

Seniors have more time on their hands later in life than when they worked full-time while supporting and caring for their families. They value their relationships with the professionals who serve them, and they enjoy exchanging light banter with them.

While automated texts and emails play a valuable role in streamlining today’s marketing efforts, canned messages without the benefit of a warm conversation can feel cold and impersonal to seniors.

When you make appointments with seniors to sell them insurance products, start the conversation with small talk and maybe end it the same way. The more personable your interactions are, the more senior clients will look forward to your interactions and the more loyal they will be.

Highlight the Insurance Products They Need

The senior market will surely be familiar with home and auto insurance, yet they will likely have new questions weighing on their minds as they near or enter retirement. 

They will be interested to learn more about insurance products such as Medicare, long-term care, critical illness coverage, disability coverage, and more. 

As retirees gain more free time, they may need to insure their golf clubs, boats, snowmobiles, or other properties related to their hobbies. Perhaps they need travel insurance to protect them on new adventures. They may also express interest in the life insurance or burial insurance. 

Seniors will appreciate you asking more about their lifestyles and offering them the right insurance products to protect them and their loved ones during this season of life. 

Provide an Excellent Customer Experience

Providing an excellent customer experience requires more than just answering seniors’ questions. Seniors want to know you care about them and value what is important in their lives. 

To improve the customer experience, learn which communication channels they prefer, such as email, chat, or phone. Correspond with them using their preferred outlets. 

Consider the value seniors will receive from the insurance products you offer. Give them guidance on how the right insurance products will meet their needs and highlight the benefits of each product. If you need to follow up with them about a question or product, be sure to do so expediently. 

Most of all, be friendly and express empathy to seniors. Your warmth and kindness will resonate with them long after the appointment. 

Share Knowledge About Economic Trends Impacting Seniors

As their income may become limited, seniors are deeply concerned about economic security in their later years. Insurance agents can give them a greater sense of security by enlightening them on changing economic trends and how those trends may impact them negatively or positively. 

While you cannot change the effects of the economy, the knowledge you provide may help seniors prepare for impending life changes and help them adapt as necessary.

Final Thoughts

Overall, developing senior client relationships should be an important part of your insurance agent toolkit. Seniors generally have the time to review their insurance policies and needs and may be eager to ask questions. Scheduling an appointment with a senior client will brighten your day and theirs, too.

By |2023-03-15T19:02:07-04:00March 15th, 2023|Uncategorized|0 Comments