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Banks & insurers plan to tap market of senior citizens

Banks, insurance companies and corporates are increasingly looking at senior citizens as their target market to take advantage of the enormous investment opportunity presented by this section

August 21, 2012 5:03 IST | India Infoline News Service
Banks, insurance companies and corporates would tap senior citizens as their target market during the forthcoming expo—Celebrating Age.

Today, banks, insurance companies and corporates are increasingly looking at senior citizens as their target market to take advantage of the enormous investment opportunity presented by this section, Vision India MD Janaki Venketraman said in a statement.

The event is being organised by Vision India, in association with the International Longevity Centre India Chapter and supported by International Federation on Ageing (IFA), the Silver Innings Foundation and Association of Seniors Living in India (ASLI).

All major insurances, banks and corporates are planning to tap this market at 'Celebrating Age' an expo on active retirement to be held between 1st September to 21st October in all major cities of India, Mr Venketraman said.

It will be held in Bangalore on 1st and 2nd September, followed by other cities like Pune (8-9 September), Mumbai (15-16 September), Ahmedabad (22-23 September), Goa (29-30 September), Chennai (6-7 October), Hyderabad (13-14 October) and Delhi (20-21 October).

The event will address trends and tipping points that are accelerating change in consumer attitudes of those aged 50 and above. The challenge is to ensure that the elderly are able to lead a healthy and dignified life ahead. They should have every opportunity to pursue the activities of their choice and be treated with respect and dignity. The elderly form a rich repository of knowledge and experience and this event has been designed to showcase the activities that the elderly can participate in to enrich their retirement lives.

The expo will also organise exhibition of products and services in the fields of banking, insurance, health and wellness, integrated townships with senior friendly homes and others.

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