Who Are Today’s Mature Adults?
Helping Insurance Agents Build Stronger Connections with Senior Clients
Retirement, respect, and relationships. Do you understand the top priorities of today’s older adults? Truly getting to know your clients within the senior marketplace can be the most significant factor in differentiating yourself from other agents.
WHAT MATTERS MOST
According to the 2013 edition of The United States of Aging Survey, the National Council on Aging (NCOA), UnitedHealthcare and USA Today found that 30% of adults aged 60 and older ranked their relationships with friends and family above financial concerns. In fact, in survey after survey, keeping connected with loved ones tops the list of what defines optimal quality of life for older adults.
Health is another priority that takes precedence over finances. According to Healthy Aging® Magazine, 70% of Americans 62 and older place physical health as their number one concern as they age.
EXPANDING THE DEFINITION OF HEALTH
It’s important to understand that “health” applies to not only physical wellness, but also to mental, emotional, and social fitness. According to the World Health Organization (WHO), over 20% of adults aged 60 and over suffer from a mental or neurological disorder. Factors that can contribute to an older adult’s mental wellness include physical pain, emotional stress, and depression. The WHO estimates that depression affects 7% of the general older population and accounts for 5.7% of Years Lived with Disability (YLD) among those over 60.
While emotional stress affects everyone at nearly every age, chronic stress for aging adults can increase their risk of developing health problems, including high blood pressure, a weakened immune response, and heart disease. Hormones associated with stress, such as cortisol and adrenaline, are less easily regulated in older brains. A report from the University of California at San Francisco showed that extra cortisol over the years can damage the hippocampus, a part of the brain that’s crucial for storing and retrieving memories.
Social wellness involves protecting personal connections and engaging in positive interactions with others. Not only are strong, healthy relationships the top concern for older adults, maintaining them can have significant positive impacts on physical and emotional wellness, too. Numerous studies have drawn connections between those who consistently maintain healthy social relationships and a reduction in the development of cardiovascular diseases and cancer.
Today’s older adults are wise to prioritize their relationships and social connections.
WHAT ABOUT RETIREMENT?
While the word “retirement” may draw excitement from some, it can also cause anxiety or dread in others. Staying physically active and engaging in brain-boosting activities each day can be less of a routine after retirement. While 67% of those who retire do not re-enter the workforce, half of those who go back to work do so as a personal choice, as opposed to a financial need.
Nonworking adults rely on proactively scheduled and maintained social opportunities. Ways to keep connected include:
Texting: Most older adults are comfortable with the basics of smartphone technology and regularly use text messaging as a way to communicate with friends and family.
Social Media: Mature adults make up the fastest-growing demographic on Facebook. 8 of 10 adults within the US are Facebook users.
Virtual Meetups: Due to COVID-19, Zoom and FaceTime are popular choices for many of us. More and more older adults are using these technologies to host group meetings within their church and civic organizations as well as personal virtual gatherings that celebrate birthdays, anniversaries and holidays. While virtual gatherings may not be as powerful as time spent in the physical company of others, they offer new ways to keep connected despite situations where there are travel restrictions or limitations on social gatherings.
After retirement, it’s also important for adults to seek out opportunities to expand hobbies, learn new skills, and remain physically active.
By understanding the priorities, concerns, goals, and attitudes of today’s older adults, insurance agents can have meaningful conversations that can build trust and help to nurture long-term client relationships and encourage referrals.
Sources:
· https://www.stellartransport.com/5-things-happiest-senior-citizens-common
· https://healthyaging.net/aging-information/physical-health
· https://www.who.int/news-room/fact-sheets/detail/mental-health-of-older-adults
· https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3150158
· https://www.silversneakers.com/blog/staying-connected-from-afar-tips-seniors
GS National Insurance is an independently owned insurance marketing organization. We specialize in helping independent advisors increase their Health, Life, and Annuity Business. Our primary focus is the senior health insurance marketplace. We combine technology and experience to deliver high-quality service and support. Learn more at gsnational.com
