Are the boomers impacting your business?

I would say the boomers are coming, but they’re already here, millions of them. I recently spoke with advisors and industry experts to get an understanding on how this influx of boomers has affected their book of business.

If you have thoughts you’d like to share with us on the issue of boomers entering retirement and how you’ve made adjustments to accommodate them, please leave a comment below or email me at [email protected]. The following are highlights from those responses we have received so far:

See also: Infographic: What boomers want from agents

Some of these folks are retiring early and potentially looking for insurance needs outside of what their employer had previously offered. In some cases, there may be no or limited insurance benefits upon retirement. This seems to also be a time when income is changing and perhaps it is time to finally review life insurance again after putting it off for so many months or years. A lot of prospects who are healthy may be looking to get an individual health insurance policy until they get to Medicare age because their plan is not affordable or their employer is not helping to pay their premiums. Long-term care needs and investment concerns seem to also be addressed more actively at this point. —Ron L. Stahl

They are worried about the real possibility of how increased inflation and taxes and the high cost of medical and long term care will impact their retirement. They are concerned about what I call “long on life and short on cash.” —David L Spinner

They are my classmates, peers. Many are less prepared than they had thought. —Howard Burkhart