long-term care – Occidental

August 11, 2022HST

Insurance Brokerage: What It Is and Why You May Need One

What is an insurance brokerage?

Insurance brokerages are often thought of as the middlemen between insurance companies and their clients. But in reality, they perform a much broader range of services for their customers and can help you with everything from finding the right coverage for your needs, to helping you find a company willing to work with your unique situation.

Insurance brokers are there to help you navigate the confusing world of insurance. You might have questions about what kinds of insurance you need, or how much coverage you should get. An insurance broker will take the time to sit down with you and discuss your needs and goals in order to figure out what type of policy would be best for you. They’ll help you understand the basics of insurance so that you can make smart choices when it’s time to buy.

If you’ve ever felt confused about how insurance works or why it’s important to have coverage at all, an insurance broker can help clear up those questions. They can advise you on how much coverage is enough and how much should be avoided altogether. They can also help you navigate tricky situations like filing a claim, switching carriers, or buying life insurance on someone else’s behalf.

Why do I need an insurance brokerage?

Insurance brokers are experts in their field—they know how to find the right policy at the right price. They can help make sure that what’s being offered is actually useful to you and meets your needs. They also have access to a wide variety of options so they can find something that works well even if it’s not available directly from an insurer. Finally, they’ll be able to answer any questions that come up during the buying process because they’ve done this many times before!

An insurance brokerage is a company that helps people find and purchase insurance.

Insurance companies are huge, and they don’t always have the time to listen to your needs or answer all of your questions. That’s where an insurance brokerage comes in. An insurance brokerage’s agent can sit down with you, take the time to understand what you want out of your insurance plan, and recommend some options that best suit your needs. They’ll also help you navigate through the process of buying a policy so that it’s as easy as possible for you.

Insurance brokerages and agents are there to help you find exactly what you’re looking for—whether it’s a simple term policy or a multi-year whole life plan—and they’ll make sure that everything goes smoothly once that policy is in place.

What carriers do we offer?

At Occidental Underwriters of Hawaii, Ltd., we understand that the best way to provide peace of mind for our clients is to offer them a diverse selection of insurance products. That’s why we work with several different insurance carriers, each of which offers a diverse selection of insurance products.

We know how important it is to have the right coverage, and we want you to rest easy knowing that your insurance needs will be met. View our list of insurance products, carriers we work with, and services we provide!

Our Carriers:

We’re partnered with 20+ A rated carriers to provide the best options.

- AIG
- Allianz
- Athene
- American National
- Assurity
- The Cincinnati Life Insurance Company
- Equitable
- Great American Insurance Group
- Jackson
- John Hancock
- Legal & General
- Lincoln Financial Group
- MassMutual
- Mutual of Omaha
- Nationwide
- OneAmerica
- Pacific Guardian Life
- Pacific Life
- Principal
- Protective Life Insurance Company
- Prudential
- SBLI
- Securian Financial
- Security Mutual Life
- Symetra
- Transmerica

Products and Services We Offer:

Our company offers a variety of insurance products to protect your family and loved ones. Choose from life, long term care and critical illness insurance, disability insurance, annuities, and retirement planning solutions to help your future be secure.

Life Insurance

Long-Term Care Insurance

Critical Illness Insurance

Disability Insurance

Annuities & Retirement Income

Personalized Consultations

Get Started

Our team is always here to help you get your insurance started. We believe that the best way to protect you is to know you. That’s why we take the time to get to know you, your family, and your life—all while making sure that our underwriting process is as quick and easy as possible.

Our agents are trained to understand how your insurance needs are unique, and can help you with any questions or concerns you have about your coverage options. We also have accelerated underwriting options for those who need them, and case management services for those who want them.

And because we believe in real people helping real people, our team members are all licensed agents who will take the time to explain all of our coverage options in detail, so there’s never any guesswork on your part.

We Offer

Underwriting Expertise

We can help you get your insurance coverage faster, with less hassle.

Acceleration Underwriting

If you’re in a hurry, we can help you find quicker options should you qualify!

Case Management

We are real people who care about your situation and will walk you through every step of the process.

July 25, 2022HST

Hybrid LTC Landscape

See how the hybrid LTC market has changed as carriers continually update their products to be competitive for your clients. Join our LTC specialist as Michael Sato, CLTC®, LUTCF®, FSS shares his knowledge of the LTC landscape and what these changes mean for you.

February 10, 2022HST

Why Care about Long-Term Care Costs – and Why a Traditional LTC Policy May Not Be Best

Originally published by: AIG Consumer Life Insurance

No wonder so many people are worried about paying for long-term care! Just look at the facts:

- 70 percent of people turning age 65 will likely need some type of long-term care during their lives, according to the Administration on Aging.
- Unfortunately, an American reaching age 65 today can expect to incur nearly $140,000 in future long-term care expenses, according to the Centers for Disease Control (CDC).
- Yet, Medicare doesn’t pay for services extending beyond 100 days in skilled nursing facilities.
- In fact, most people who need long-term care reside in private homes and receive their informal care from loved ones, according to the Congressional Budget Office.
- And by the time the youngest baby boomers turn 86, in 2050, the number of available family caregivers is expected to be nearly 60 percent lower than in 2013, according to the AARP Public Policy Institute.

In light of these types of concerns, some people consider purchasing a traditional, stand-alone long-term care (LTC) insurance policy, designed to pay benefits when qualified expenses occur. Examples of situations in which benefit payment can be triggered include medical certification of a severe cognitive impairment or an inability to perform two of the six activities of daily living (eating, toileting, transferring, bathing, dressing, continence).

However, the condition must be expected to impact the insured for a minimum of 90 days. Furthermore, far fewer LTC policies are available now than in years past, as many carriers have exited the market. Some people find the cost of the available LTC policies cost-prohibitive and seek more flexible, affordable solutions.

Consider Combination Products

Among the alternatives to traditional, stand-alone LTC products are combination products. These solutions include life insurance policies with built-in or available living benefit riders for long-term care specifically or for chronic illness (which often leads to the need for long-term care).

These two types of riders are designed to allow the policy holder access to an accelerated portion of the life insurance policy’s death benefit (with a corresponding decrease in the death benefit), when the terms of the rider have been met. In other words, these products are structured as multi-purpose solutions and may represent the best value for some people.

Learn about some of the differences between LTC riders and chronic illness (CI) riders on life insurance products – and why CI riders, in particular, may be the perfect choice to provide access to cash while living.

For more information, Contact Us.