Boomers retiring at 65 after all

Posted on: Wednesday, April 04, 2012

A new study has been released that could impact agents' life insurance leads.

According to Metlife and its report, "Transitioning into Retirement: The MetLife Study of Baby Boomers at 65," many individuals who are turning 65 are, in fact, retiring. This goes contrary to what several previous polls have indicated, namely that baby boomers are working past the traditional retirement age.

The study found that nearly 60 percent of boomers who have or are about to turn 65 are at least partially retired, while 45 percent are completely retired. Approximately 14 percent are retired from their main jobs but are still working part-time. Of these, 37 percent say they'll retire completely within the next year.

Sandra Timmermann, director of the MetLife mature market Institute, noted that because a considerable number of boomers are in good health and have a sufficient amount of savings, they're sticking to their original retirement plan.

"Many of the Boomers weathered the recession well and have been able to stop working," said Timmermann. "Half of all Boomers feel confident that they are on track or have already hit their retirement goals."

Life insurance often takes on added importance for individuals after they retire, so these findings suggest life insurance lead generation may become easier.

Posted In: Insurance News, Life Insurance

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