Why the Senior Insurance Market?
We just talked about why becoming an independent insurance agent is a great career choice. But, which industry should you serve? There are certainly more than a few to choose from.
Maybe you’ve thought about the health and life insurance market, after all, it’s a product that the majority of Americans are familiar with and have purchased at some point in their life.
But maybe you’d like to get a little more specific.
We recommend the senior insurance market. It’s a great place to start your career as an independent agent for some of the same reasons that we mentioned in the last lesson, and a few others.
At the top of the list, this sector of the market is growing and has been since the baby boomer generation started hitting retirement age. According to statistics, 10,000 people turn 65 every day in the United States, and that’s based on the baby boomer generation being the largest cohort in US history, with 72.1 million current members.
Generation X is right on their heels though, with 65 million current members who will begin to reach retirement age in 2030.
And then in addition to a growing market that’s continually replenishing opportunity, you likely have some seniors in your life that you could work with.
Think parents, grandparents, other family members, and friends. And then lastly, but important to any career, working in the senior market is a very rewarding segment of the insurance industry.
Arguably, seniors are the population most in need of insurance, especially health insurance.
As an independent insurance agent, you also act as an insurance advisor, all good agents do.
By acting in an advisory role, you get the privilege of helping seniors navigate their insurance options to find a plan or combination of plans to effectively meet their needs.
And when they call to let you know how much that coverage helped when they needed it most, well, there’s nothing more satisfying than that.