The older component of the 76 million-strong Baby Boomer generation are aging gracefully, putting on their silver sneakers and exercising, and generally living life on their terms—that is, until they need a little help. That is a major reason why senior living communities are growing—the sheer numbers of oldsters who need assistance is resulting in a demand for these facilities, despite the recent economic downturn. Understanding what this still-vibrant demographic wants and needs is a key component for continuing care retirement communities insurance for agents who wish to increase their penetration in this market.
Surveys reveal what aging Boomers really want
Industry surveys that examine trends in the programs, amenities, and environments among the facilities offering services to this group have amassed some interesting findings, such as:
Technology—Perhaps surprisingly, many older people are very interested in the latest trends in technology. Remember, many of them may have left the business force fairly recently, and are accustomed to and adept and using computers. The facilities they are interested in will have state-of-the-art systems on hand for these folks who intend to maintain their independence by keeping up with what’s going on, whether they want to check out the news online, Skype with grandchildren, work on their memoirs or play Candy Crush.
Education—Seniors report that they are interested in keeping their minds flexible with continuing learning, often via web-based classes; in response, while just 22% of facilities offer this kind of online classes currently, that number is expected to grow to nearly 70% in just four years. Recreation and wellness offerings are also growing in popularity, with instruction in tai chi, yoga, and Pilates being requested.
Environmentally conscious living—The older generation is embracing the trend of going green just as other demographics are, so communities that emphasize recycling, clean energy usage, and a reduced carbon footprint in new construction or renovations are becoming more attractive to those who are interested in being kind to Mother Earth.
To provide a comprehensive program for the forward-thinking businesses that are attracting these older yet still thriving citizens, continuing care retirement communities insurance for agents must be undertaken with insurers who are on the cutting edge and offering features and benefits that fit the dynamic environments they protect.