Connecticut Employee Benefits: The “Do-it-myself” Mentality

Deloitte conducted a survey that examined different obstacles that prevent insurers and annuity companies from effectively reaching prospects when it comes to retirement-related products and services.

The survey examined almost 4,500 consumers from a wide range of age and income groups. They identified five barriers: conflicting financial priorities, a failure to communicate effectively with potential prospects (especially in the workplace), a lack of trust in intermediaries, limited awareness and understanding of retirement-related products among consumers, and a “do-it-myself” mentality that many consumers adopt when it comes to preparing for retirement.

The “do-it-yourself” mentality is a valid approach for those with the expertise and knowledge to handle their own retirement planning. However, the majority of consumers

According to the survey results, those that have a formal retirement plan are much more likely to feel financially secure about their future.

As a business owner, this is a product and benefit you can offer to your employees. Not only will you give them to tools to financially secure their future, you can help increase retention and loyalty among your employees. Retirement and benefits plans are top concerns of employees in choosing and staying at a particular company.

Sinclair Risk & Financial Management provides the expertise, experience and suite of products and solutions to help clients protect and build personal wealth. Wallingford, CT Financial planning is a natural extension of our Connecticut employee benefits solutions. It takes a comprehensive, ongoing approach that keeps up to date with changes in your life and business. Contact us today for more information. (877) 602-2305