Matt Thornhill Interview in Insurance News Net Magazine – August 2008

How to approach boomers (Excerpted)

Q: What are the key issues facing boomers today?

A: They have either reached the pinnacle of their careers or they are about to. And most of them have accepted the fact that they’re not going to make it to the very top of their organization.

But they’re at a point where they are trying to maximize their income…So thoughts of retirement, retirement planning and ability to count on money in the future will probably be pretty high on their list. …They are running out of time to pay for retirement. They may be having some sort of health issues that may indicate they aren’t going to be able to work as long as they originally thought.

Q: Do you think it’s (optimism) is going to remain with them?

It is just ingrained that things will rebound and things will be fine. Talk to them about the future. What kind of products can you invest in today that could give you a sense of control over what money you’ll have in your pocket 10 years from now, 20 years from now, when you decide to no longer work?

Q: If you’re selling to these folks, one of the keys you mention is control. Are there other kinds of features or characteristics to acknowledge?

A: You have to talk about the positive aspects of the next stage of life. Not the negative doom and gloom, fear and uncertainty tactics…that’s just not going to work.

Boomers look at you and say, “Oh, that’s not going to happen to me.” They’re pretty good at being in denial.

You need to talk about the specific benefits for your specific clients.

You have to tell them why they will like it. If you say, “Well, everybody that I’ve sold this product to thinks it’s great.” Boomers will say, “Yeak, well, I’m not everybody. I’m me. Why should I buy?”