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Aging Baby-Boomers Increase Demand for Annuity Leads


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The aging baby-boomer generation seeks security in annuities driving demand for annuity leads.

 

Baby-boomers are aging making the senior market the wealthiest and fastest-growing segment of our economy. Born 1946 – 1964, baby boomers were named for an uptick in the post-WWII birth rate. At the end of the first year of the baby boom, there were about 2.4 million baby boomers. By the last year of the baby boom, there were nearly 72.5 million of them. That number peaked in 1999, with 78.8 million US baby boomers including people who immigrated to the U.S. between 1946 and 1964.

 

About 10,000 baby boomers are reaching retirement every single day according to AARP. This is expected to continue into the 2030s. That is the main reason why Social Security and Medicare programs are in trouble in the coming decades.

 

The majority of baby boomers support their adult children, which has increased their need for financial security. About 59 percent of baby boomers who are parents financially supported their children ages 18 to 39, according to a survey from the National Endowment for Financial Education. This is due to multiple factors including the rising cost of college tuition and difficult job market.

 

Many baby boomers are not well-prepared for retirement. The median 401(k) balance of someone between the ages of 55 and 64 is $177,805 according to Vanguard. That translates to just $7,112 a year in retirement. In addition, 45 percent of baby boomers have no retirement at all.

 

Annuities for Baby Boomers

Annuities help build secure retirement income strategies for aging baby boomers. The recent recession made Americans more cautious with their money. Baby boomers especially have re-evaluated their approach towards investing, according to Wealth Management.

 

Annuity insurance reduces dire financial retirement predictions for baby boomers. Forty percent of Americans will experience their most costly purchases in life-long term care during their retirement years. While many baby-boomers think they are covered by long term care insurance, only about 6 percent of the elderly have this type of coverage.


Women are more vulnerable to financial and emotional devastation from long term care needs, because they earn less and live longer than men. As caretakers, many women are forced to retire early or cutback on work to care for family members.

 

 

Annuity Leads

As boomers age without adequate funds for retirement, annuity insurance becomes more vital. It can fill the gap for those unprepared for retirement. Your clients and your agency stand to benefit from selling annuity insurance, but to do this you need annuity leads .

 

Parasol Leads generates thousands of high-quality annuity leads for clients across the country. We use highly targeted marketing efforts to reach boomers searching for annuity insurance, so our leads convert at a higher rate.

 

Contact us today to learn about our annuity leads, lead generation services and how we can help your insurance business grow.

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