Life Insurance

Life Insurance with Long Term Care - Hawaii Life Insurance
INSURANCE PLANS AND COVERAGE

Life insurance provides a way to help those you care about to maintain their quality of life in the event of an untimely death and can also provide retirement and other benefits to you during your lifetime.

Types of Life Insurance

A life insurance policy can provide protection based on your current situation, goals and needs. Generally speaking, there are two types of insurance, permanent and temporary.

Term Life Insurance

Choose for a specific period or term

  • • Provides coverage for a selected term such as 10, 15, 20 or 30 years.
  • • Your beneficiaries collect the proceeds of the policy if you pass away during the selected years.
  • • A term policy does not have cash value.
Permanent Life Insurance

Choose for long-term protection and potential cash value accumulation

  • • Provides coverage until death, as long as premiums are paid in a timely manner.
  • • A permanent policy may build cash value.
  • • You can borrow from the cash value income tax-free to meet other financial needs.

As its name implies, term life insurance will provide coverage for a set period, the shorter the duration, generally the less expensive it is. With term life, a life insurance company bases the policy premium on the timeframe for coverage— typically 10, 20 or 30 years.

Permanent Life Insurance can come in two forms, Whole Life and Universal Life.  While both offer the potential to provide coverage for entire lifespan of an individual the mechanics within these policies are very different. In addition to providing protection for your loved ones upon death, permanent insurance also offers investors the potential to accumulate tax deferred or tax free investments. 

Costs, coverage, and crediting for cash value can vary widely and it is recommended that you always work with your trusted E.A. Buck professional on life insurance questions.

If you have already taken steps to financially protect your family, remember to periodically assess your situation and life insurance needs with an E.A. Buck Private Wealth Manager. Changes in your income, financial obligations and long-term goals mean the type and amount of life insurance you need may have changed as well.

WHAT YOU NEED

When you discuss life insurance with a Private Wealth Manager, you’ll need to review information about your financial situation, including:

  • • Current life insurance and savings
  • • Current income and monthly expenses
  • • Family commitments, such as college funding
  • • Survivor’s basic needs
  • • Current debt obligations such as a mortgage, car loans, student debt, credit card balances
  • • Survivor’s expected income vs. income need to cover expenses for life
Meet with a Private Wealth Manager

Backed by years of experience, the top financial advisers at E.A. Buck are ready to help with a free consultation
 

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