The Evolution and Future of Long Term Care Insurance with Dan Halla

Welcome back to another episode of "Don't Retire... Graduate!" I'm your host, Eric Brotman. In our "Diary of a Financial Advisor" segment, we introduce you to financial advisors and explore their professional journeys and their dedication to helping clients achieve financial success. Today, I'm delighted to have Dan Halla, a valuable member of our BFG team, join me. Dan is our go-to specialist in long-term care insurance, bringing both his professional expertise and personal passion to the table. We'll dive into what inspired Dan's career path, his philosophy on the importance of risk management, and what's on the horizon for the field of long-term care insurance. In this episode, I sat down with Dan Halla to discuss long-term care, a topic that many shy away from but one that Dan passionately champions due to personal experiences with his grandmother. We explored his journey to BFG, which started at a luncheon where his potential was spotted immediately. Dan shared how his dedication to long-term care was ignited by witnessing his grandmother's needs as she aged, steering him towards a career where he could make a significant difference in others' lives. Dan brings a human touch to financial advising, focusing less on numbers and more on the personal stories of our clients. We dove into how the long-term care insurance market has evolved, with fewer companies offering traditional policies. Dan explained how hybrid policies cater to clients' desires for a more tangible benefit, such as a death benefit or cash value. A theme throughout our conversation was trust—trust clients must have in us as advisors, even as we recommend planning for eventualities they would rather not contemplate. Dan's commitment to building personal relationships ensures our clients feel supported, especially when making claims in times of hardship. 5 Key Takeaways: Personal Motivation: Dan's passion for long-term care insurance was inspired by personal experiences with his grandmother, underscoring the importance of real-world experiences in shaping career paths. Changing Insurance Landscape: The traditional long-term care insurance market is shrinking, with more carriers offering hybrid policies that provide clients with more immediate, tangible benefits. Building Trust: Dan emphasizes the significance of developing close, trusted relationships with clients, assuring them of support when they need it most. Professional Philosophy: Rather than solely focusing on investment figures, Dan focuses on understanding clients' personal stories to guide them toward better financial decisions. Future Aspirations: Dan's goals revolve around being a trusted professional and an excellent future parent, with the guidance and confidence instilled by his wife and teammates. Thank you for tuning into this insightful episode with Dan Halla. Make sure to subscribe, rate, and share with friends and family. As always, if you have ideas or topics for future episodes, reach out to us on Facebook. Remember, don't retire, graduate! Learn more about your ad choices. Visit megaphone.fm/adchoices

Don’t Retire… Graduate! Is the podcast that asks what you want to be when you grow up so you can graduate into retirement with a passion and a purpose. Hosted by Certified Financial Planner Practitioner, Eric Brotman, this show will explore different methods for saving money, paying down debt, raising financially literate children, growing your wealth, and reaching financial independence–whether you’re 35 or 65. Retirement is not the absence of work, but the absence of needing to work. So join us while we talk to award-winning, best-selling authors, finance experts, influencers, and people with amazing money stories to help you set and reach financial goals, discover your passions, and make a plan for what you want to be when you reach the point where work becomes optional. Plus, between full episodes we’ll answer listener questions about personal finance, investing, retirement readiness, taxes, and more. Topics covered include: budgets, credit, debt, emergency funds, balancing expenses, health savings accounts, insurance and risk management, financial advisors, mortgages, retirement savings, social security, money management, spending, fintech and finance apps, employee benefits, and the FIRE movement.