Delivering More Personalized Advice with Lumiant HALO
How Insurance and Financial Advisors Can Truly Set Themselves Apart
The insurance and financial services field is extremely competitive. With so many options available, it can be difficult for advisors to find — and keep — clients. So how exactly can advisors set themselves apart?
One powerful way is to provide an in-depth assessment that shows clients, based on their family health data, potential future scenarios. These insights help advisors support meaningful discussions about planning for health and care considerations in a way that feels personal and real — not based on generic averages.
Kevin Baranczyk, a financial advisor in Wisconsin, has been implementing the Lumiant HALO process to do exactly that — and the results have benefited his business substantially.
How HALO Works
In an effort to develop and maintain strong relationships with his clients, Baranczyk introduces the HALO assessment in person during review meetings. The assessment brings science and financial planning together to create personalised projections about clients' health and care expenses.
Once completed, the HALO report provides personalised projections across several key areas: family health risks, projected active healthy years, projected years of extended care and related long-term care expenses, projected longevity extending out to age 110, and projected out-of-pocket healthcare costs.
With HALO, advisors no longer have to rely on inaccurate or outdated averages when planning ahead for future healthcare costs. Baranczyk shows clients their data in real time — which can be an eye-opening experience.
A Client Example: Ten Years in the Making
In one instance, Baranczyk had been working with a couple for over ten years. Even though the clients had considered buying long-term care insurance, they had never taken the plunge — until he started using HALO.
The policy the clients ultimately purchased had an initial premium of just over $100,000 but provided an annual long-term care benefit of more than $71,300 paid out for life. Regardless of how long they need the protection, the coverage will be there.
But the story doesn't end there. Once the clients realised how beneficial the long-term care coverage would be, HALO also helped broaden the conversation to encompass their estate planning needs — opening up an entirely new dimension of the advisory relationship.
How HALO Positions Advisors as Experts
HALO offers a fast, straightforward method of planning for future longevity, health, and eldercare expenses — based on the real probability of a client facing the same types of healthcare issues as their family members before them. Using HALO's insights, advisors can more easily customise an insurance plan that fits a client's specific needs, making it far less likely they'll end up over- or under-insured. Clients also have their game plan in place before it's too late to secure the right coverage.
When first introduced to HALO, Baranczyk was admittedly a bit sceptical. But once he saw the results, he was sold. He's even found ways to make the assessment process fun for clients as they work through the questions together.
Before HALO, bringing up the topic of long-term care was a challenge — most people don't relish thinking about their future health and care needs. But with HALO, Baranczyk can show clients their unique longevity projections and personalised cost-of-care figures based on their own data. The program makes projected needs feel tangible and real. As a result, he now regularly incorporates HALO into his planning presentations with both new and existing clients.
Using HALO to Highlight and Plan for Real Needs
HALO offers a unique process for educating clients and surfacing areas for discussion — helping advisors guide conversations about potential insurance needs in a way that feels collaborative rather than sales-driven. Any insurance or financial advisor can leverage HALO as a value-added service to meaningfully differentiate their practice.
Want to learn more? Get a demo today.