The Senior Market

As stated in 1965 by, then president, Lyndon B. Johnson,

"Medicare will signal a deep and lasting change in the American way of life. [With] … Social Security… they will form the twin pillars of protection upon which our people can safely build their lives and their hopes."
Lyndon Johnson.

In July, President Johnson signed the Medicare bill into law. Together with Social Security, these public programs were to provide unfailing health care and financial security for everyone. However, it was apparent from the start that both Medicare and Social Security had limits. Only through the purchase of additional private supplemental health insurance and retirement programs, would financially responsible, older Americans, truly enjoy security and peace of mind in retirement.

The American population is graying at a rapid pace. Those age 50 and over are now 60 million strong and account for 23% of the U.S. population. By 2010, this group is expected to swell to 96 million, or 43% of all adults. As baby boomers reach age 50, they bring the most monetary muscle of any generation. People 50 and older own over 77% of the financial assets in America and control nearly $7 trillion in net worth. These figures continue to increase as boomers continue to age. What's more, they are the first senior generation to be online and techno-savvy. In fact, more than 7.6 million are online, making them the most affluent segment of the population and key users of Internet technology.

The only way to benefit from this spending power is to understand lifestyle issues and interests of this age group and tailor marketing strategies accordingly. Senior Market Sales has been doing just that for over 20 years.