More Americans are turning 65 this year than ever before, and that number is set to creep even higher over the next few years. It’s fueling a huge rollout of new retirement products, not to mention great leads for supplemental Medicare programs.
An average of 11,200 Americans will reach that traditional retirement age each day in 2024, according to a recent report by the Alliance for Lifetime Income.
They are great prospects for Medicare Supplement policies as well as other insurance products. Studies have shown that the Turning 65 market is best reached via direct mail. That is because direct mail is the only way to reach 100% of the Turning 65-ers. No other marketing channel can do that.
The secret to building a huge base of Medicare clients is helping seniors compare options before they turn 65.
That’s why Insurance marketers will buy their turning 65 list about 5 months before the prospects actually turn 65. It is also why insurance agents will mail to the Turning 65-er more than once. Proactive insurance agents need to position themselves as a Medicare specialist. They do this by getting in front of the Turning 65-ers and educating them about their Medicare options before they ever enroll.
New Legislation Gives Financial Advisors Opportunities with the Turning 65 Segment
The Secure Act and Secure 2.0 has led to a growing number of financial products that promise paychecks for life, no matter how long you live. For financial planners and financial advisors, this surge of Turning 65-ers, offers a great group of new prospects for their lead generation efforts.
Lifetime Value
A new Medicare client is also a great opportunity for cross-selling other lines. Many T65-ers will also buy Long Term Care insurance to cover long-terms care living expenses.
Once an insurance agent establishes themselves with their new client, they can position themselves as an authority for other insurance products. Consequently, a new client brings great potential for increased commissions.
