Long Term Care Insurance Marketing Has a Growing Prospect Base

If you are looking at a segment of the insurance industry to specialize in, you might consider the senior or older American market. This segment is growing and will continue to grow based on the movement of the baby boomer generation to the senior group.

The older population will continue to grow substantially in the future. This growth slowed during the 1990's because of the relatively small number of babies born during the 1930's. But the older population will burgeon between the years 2010 and 2030 when the "baby boom" generation reaches age 65. The baby boomer generation is generally considered to be children born from 1945 through 1964.

According to a recent US Census, the population of American citizens over age 65 in 2000 was 35,000,000. That number is expected to increase to 71,500,000 by 2030. That is an increase of nearly 90%. That increase will provide an expanding data base for LTC insurance products and these products are expected to fill a real need. The need is being created as the government provides less funding for nursing home care combined with the expected increase for services.

Other factors considering the need for insurance protection is the changing of the traditional family to more single people living alone. Current studies have shown that 58% of all women over age 65 are in this category. This removes traditional family support and causes the need for the single person to care for themselves. The need for LTC in the single female market is the single highest segment in the over 65 category. This target market should by far be the biggest market available for LTC insurance products.

Those agents who focus on this "expanding" target market are going to be rewarded with a huge supply of prospects. By focusing on this segment and becoming the area specialist will provide an advantage. Here are a couple of tips to move towards this market:

· Offer to be a speaker at a women's group or club (there are tons of them) in this age group, keep it simple and short, have lots of handouts.

· Develop a direct mail piece for your own us to reach this target market

· Offer a "women only" workshop at the local library about LTC issues

Numerous options exist to work in this area, a little imagination will put you ahead of the competition.

Bill Broich is thirty year annuity salesman who helps agents generate insurance annuity leads and sales. To discover more visit his website: Annuity Marketing Lead.

Article Source: http://EzineArticles.com/?expert=Bill_Broich