Adviser strategies

As many as 70% of Americans don't have a will, trust, health or funeral directive as the nation gears up for its largest wealth transfer ever.

Advisers can help employers compete for C-suite talent amid major demographic shifts by highlighting nonqualified plans to supplement core benefits.

Pressure continues to mount on producers to deliver more customized benefit packages and consultative services to satisfy the needs of more demanding clients.

Brown & Brown's Erika Illiano suggests finding the right decision-support tool and constructing a compelling narrative around various coverage options.

Self-funding, network steerage and gap funding require advisers willing to step out of cruise control and into a more consultative, engaged role.

Advisers can do a better job equipping employees with the knowledge they need to make better benefit choices.

Communication challenges will include personalizing benefit messaging to five generations working side by side, and designing affordable healthcare coverage.

More thoughtful communication can help sell benefit plan participants on equitably sharing responsibilities, as the need for hyper-personalized messaging grows.

Benefit advisers appreciated collaborative conversations around delivering high-value, personalized benefits that resonate with employees' needs.

Employer clients must be prepared to contribute additional capital to fund and secure the captive's initial surplus, typically 10% to 15% of the first year's premium.