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Life insurance

 

Your family is your legacy.
Life insurance protects their future.

Life insurance gives you, your family and your loved ones the financial support to continue living while coping with the loss of a loved one.  Everyone needs life insurance, but it’s not as easy as it sounds. There are a lot of details that need to be worked out, and you don’t want to leave anyone with questions. The goal of this article is to give you an overview of life insurance basics so you can make better decisions about buying coverage.

How Life Insurance works

Life insurance pays out benefits when a policyholder dies. It can help cover debts and final expenses like funeral costs, pay off a mortgage or even provide for children who are still young. Whether you’re about to get married, planning for retirement or just looking for peace of mind, life insurance is one of the most important things you can own.

Types of life insurance: Term vs. Permanent

Life insurance is a contract between you, the insured, and a life insurance company. It provides financial protection for your family in case of your death. The choice between term and permanent is this: Term insurance provides a guaranteed amount of coverage for a specific term (e.g., 10, 15 or 20 years). Permanent insurance does not expire but keep building up cash value like an investment account. If you choose term, you’ll pay less in premiums and can get it faster than with permanent.

Does the insurance carrier matter?

Yes, the type of life insurance carrier can matter. Here is why. The life insurance carrier is the company that you are paying to protect your family, so it’s important to make sure they have a good reputation and are financially stable. There are several types of life insurance carriers and each type offers different products. So, it is important to find the carrier that fits your needs and budget.

Life insurance is one of the most important financial decisions you will make in life. While the type of life insurance carrier may be less important than the details specific to your situation, a knowledgeable agent can help you determine which type of life insurance policy fits your needs.

Life Happens
Reasons for Owning Life Insurance

There are many reasons to own life insurance but ultimately the choice to buy life insurance comes down to removing the burden on your family should something happen to you.  Whether they depend on your income to pay off your home and avoid defaulting on the mortgage or paying your child’s tuition so that they can continue to reach for their dreams, life insurance provides when you cannot.

Additionally, life insurance can be an excellent way to round out your estate and retirement planning, or keep you on your feet financially should you become ill and unable to work for a period of time.  There are life insurance policies for nearly every financial need and goal that you may have for your family and loved ones.  Obtaining a policy that fits your life is easier than you might think.  Let us know how we can help you.

Steps to life insurance

Step1

Determine How Much Coverage You Need

Use this calculator to approximate how much life insurance coverage you need based on your income, expenses, and family goals. It will give you a good estimate to keep in mind for when you contact our team.

Step2

Determine the Duration

How long would you like insurance coverage for?
There are many different life insurance products that can keep you covered for a period of years or for the rest of your life. Knowing why you want life insurance is important in determining the duration of your policy needs. A 20-year Term Life policy could protect your family until your kids are out of school where a Universal Life policy will guarantee an inheritance for your loved ones while giving you more flexibility in retirement.

Step3

Compare and Apply

We’ll send you a list of solutions and find the best fit for you.
We have been proudly serving the families of Hawaii for nearly 90 years. We look forward to helping you find the policy that gives you peace of mind while providing your family a lifeline far into the future.

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