Want Annuity Customers? Try Baby Boomers.
April 30, 2019 by Chris Conklin
Seventy-six million. That hefty number is the estimated number of baby boomers living today in the United States. We’ve heard a lot about how this generation — those born between 1946 and 1964 — has its own unique challenges when it comes to retirement planning, particularly since it can’t rely on pensions or even Social Security as much as prior generations. As a producer, it’s important to consider how annuities can and should be an important part of a boomer’s retirement portfolio.
You have likely already considered the benefits that annuities can offer to boomers, so it may seem like a novel idea at first. But there are solid reasons to focus on selling to this particular group. Boomers are at the perfect age to benefit from the consistent income stream that annuities can provide, among other benefits I’ll mention below. And, put simply, no other financial products have been developed at the moment that offer the unique value for investment that annuities do. As a result, annuities shouldn’t be overlooked as part of your selling strategy.
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