The golden age of the senior generation

Not too many years ago, we might have associated the idea of limitation as intrinsic to aging. However, fortunately, in just two or three decades, our society has managed to achieve “active aging” where, after 60 or 65 years, senior individuals are no longer in a separate sphere but play an active role in various social domains.

Advancements in healthcare and nutrition, refinement in the caregiving sector, the new opportunities offered by technology, and cultural shifts among older generations are among some of the main reasons behind this new active maturity, where individuals over 60 play an important role in public life, the economic sphere, and leisure offerings, among others.

Currently, we have achieved not only a longer life expectancy but also, in addition to living longer, these years are also enjoyed with a higher quality of life. In a society predominantly aged –according to data from the World Health Organization (WHO), in 2020, the number of people aged 60 or older exceeded that of children under five– it is essential to collectively contribute to improving the lives of older people and to avoid the stereotype of “ageism.”

Aging is the result of the accumulation of a wide variety of molecular and cellular damage over time, which generally leads to a gradual decline in physical and mental capacities. However, this doesn’t mean that reaching a certain age should bring life to a sudden halt. Not by a long shot.

When it comes to aging one way or another, the social, familial, and economic context in which people live, as well as their housing situation, neighborhood, and community, play a significant role. All these factors, along with personal characteristics such as sex, genetic predisposition, or socioeconomic status, have effects on aging.

All of this can influence opportunities, decisions, and habits related to health and aging. However, there are decisions that can and should be made consciously to promote better aging. In particular, maintaining healthy habits throughout life, such as following a balanced diet, engaging in regular physical activity, and abstaining from tobacco and alcohol consumption, helps reduce the risk of non-communicable diseases and improves physical and mental capacity. Therefore, it also helps delay dependence on care, as noted by the WHO.

Nowadays, the availability of safe and accessible public buildings and transportation, improved communications, as well as the availability of places that are easy and pleasant to walk through, or access to new technologies are examples of environments conducive to better aging.

Also conducive to this are providing individuals over 60 with a catalog of activities to extend and improve their life expectancy, such as courses, options for sports or different exercises, even continuing their studies or the opportunity to resume old hobbies.

“Our duty as a society and as members of the global community is to address the challenges of longevity and unlock its potential,” expressed United Nations Secretary-General António Guterres on the occasion of the International Day of Older Persons. “We must promote the social, economic, and political inclusion of all individuals at all stages. This commitment is enshrined in the Sustainable Development Goals (SDGs): lifelong learning, robust social protection, accessible and quality long-term healthcare, reducing the digital divide, intergenerational support, dignity, and respect are essential.”

MAPFRE is aware of the importance that older people and their quality of life have in our society, and that’s why it offers specific products for the Senior Generation, those who continue to advance with vitality and optimism once they reach the end of their working age.

Ultimately, it’s about following the United Nations Principles for Older Persons to continue promoting active aging: independence, participation, care, fulfilling one’s own wishes, and dignity. Furthermore, it is necessary to pay special attention to marginalized elderly individuals and those living in rural areas, as they face aging under certain conditions of inequality.

Therefore, MAPFRE offers a wide range of insurance products specially tailored to this generation, aiming to provide security and peace of mind in every situation. MAPFRE’s Senior Generation range encompasses a wide array of products designed specifically for those men and women who don’t slow down when they reach the end of their working life. Instead, they “turn the page” in their lives and continue advancing with optimism and vitality.

The Senior Accident Insurance provides individuals over 55 years old with compensation for injuries in case of accidents, specific assistance of up to 200 hours for the insured or a family member of the insured until recovery, as well as guidance and personal care services for situations of dependency.

MAPFRE also offers its senior clients long-term care insurance, specifically aimed at individuals aged between 55 and 75. With this insurance, the insured receives a lifelong, constant, and non-reversible monthly income, established by guarantee, which serves as a significant supplement to their pension and savings to address the highly likely situation of dependency that individuals in the “silver age” are called to experience today, given the limited public funds available.

Regarding reverse mortgages, it’s another solution that MAPFRE offers to its clients, serving as a complement to pensions and allowing them to cover costs related to today’s increased longevity or simply improve the purchasing power of individuals during the many additional years provided by current life expectancy. In addition to obtaining an additional monthly income, this reverse mortgage also provides tax advantages. And, of course, ownership of the home is retained.

Another of the various solutions that MAPFRE offers to adults is Multimap, a solution for necessary home renovations and repairs, making the home more accessible and offering over 400 quality services, a 24-hour service, and urgent assistance within less than 3 hours, along with a 6-month warranty on all services and nationwide coverage.

Savia, on the other hand, is the set of digital and in-person health solutions that MAPFRE offers to individuals under a pay-per-use model for those times when other solutions do not meet people’s needs. It serves as an alternative to supplement public health sustainably over time, allowing clients to consume only the health services required at any given moment.

Ultimately, as Antonio Guterres states, “Together we can build more inclusive and elder-friendly societies, and a more resilient world.” If we want to make aging a positive experience, a longer life must be accompanied by continuous opportunities for health, participation, and security.

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