Living Protection

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Living Protection: a no-brainer solution

Can you afford the high cost of health care due to a chronic, critical or terminal illness? You might know someone who has suffered from a heart attack, cancer, stroke or other condition that left them unable to work for several months—or permanently. What if it were you? Would you have to sell your home, deplete your 401(k) or depend on family? Living Protection reduce risk and provide you with emergency funds, leaving your other assets intact.

Our team has spent the past three decades developing our Living Benefit programs. We’ve worked with carriers to create innovative products, striving to improve them and advocating for a new kind of protection against the unexpected.

What qualifies for Living Protection?

Eighteen conditions (including cancer, stroke and heart attack), classified under three types of illness (chronic, critical and terminal), are considered qualifying events.

Call us for the complete list.

Access funds when you need them most—while you’re alive

Peace of mind is knowing you have access to an emergency savings account if you suffer a qualifying condition. Living Protection can provide you a partial or full acceleration of your face amount while you’re still living, leaving assets such as your 401(k) and your home intact: It’s protection you don’t have to die to use.

An alternative or supplement to long-term care, and more

Accelerated death benefits reduce risk by providing you a partial or full acceleration of your policy’s death benefit if you suffer a qualifying condition. Funds can be used to cover the cost of home health care and more. Living Protection are automatically included in your policy at no additional cost. This new kind of protection provides the flexibility you need, because life is anything but predictable.

Protection for the living

Enhance and protect your retirement lifestyle with Living Protection. What if you survive a heart attack, stroke or cancer? Could your family maintain their standard of living without a death benefit? Living Protection help reduce stress and financial risk because they could provide you access to a portion of your face amount while you’re still living.

What Are Your Options if You Become Ill?

Deplete Your Savings

If you save 10% of your annual income, it would you take a decade to set aside a year’s income. Do you have sufficient savings to last through an extended disability?

Sell Your Assets

Assuming a market exists, forced liquidation of assets can reduce their value. A single disabling event could wipe out the assets you’ve worked a lifetime to accumulate.

Ask for Help

Does your family have the means, expertise and time to provide the care you might need? It is unlikely that a creditor will lend money to a disabled income earner.

Rely on a Spouse’s Income

Living comfortably today usually requires a dual income. Would your spouse’s income be sufficient to compensate for the loss of yours?

Your Choice. Your Money. Your Solution.

Hawai‘i Mortgage Protection Group Living Benefit programs are changing the way Americans plan for their retirement.
We are committed to enhancing your retirement lifestyle by reducing stress, risk and taxes.

Living Benefit Stories

The best way to understand Living Protection is to hear the stories of the
policy owners who have used them.

How Living Protection helped Chris

Chris was diagnosed with stage 3 breast cancer at age 52, five years after purchasing her program. She had to take several months off work and used the Critical Illness benefit to help pay medical bills, the mortgage and other living expenses. Without this benefit, Chris would not have had enough to cover many of these expenses.

Purchase Profile Female, age 52
Initial Face Amount $1,500,000
Critical Illness Amount Available  $585,485
Total Premiums Paid  $14,806
Death Benefit Remaining $150,000
New Monthly Premium  $29

How Living Protection helped Kai

Eight years after Kai bought his protection program, he was diagnosed with a terminal illness. Kai used the Terminal Illness benefit to pay off the mortgage and fund his children’s college saving plans. Without the money from this benefit, Kai’s family would have most likely lost their home.

Purchase Profile Male, age 37
Initial Face Amount $900,000
Terminal Illness Amount Available $771,858
Total Premiums Paid  $7,104
Death Benefit Remaining $90,000
New Monthly Premium $12

How Living Protection helped John

John suffered a moderate heart attack four years after buying his protection program. Due to his unexpected illness, John decided to take an early retirement at age 67. He utilized the Critical Illness benefit to pay off his mortgage and cover other expenses. Without the money from this benefit, John could not have retired.

Purchase Profile Male, age 67
Initial Face Amount       $800,000
Critical Illness Amount Available $428,537
Total Premiums Paid  $55,028
Death Benefit Remaining  $80,000
New Monthly Premium   $120

How Living Protection helped Sue

Sue bought a protection program that was guaranteed to age 100. Nine years later, she was diagnosed with a severe chronic illness and needed in-home care. Sue utilized the Chronic Illness benefit to help cover the costs; without the money from this benefit, Sue’s family would have struggled to cover the cost of home care.

Purchase Profile Female, age 64
Initial Face Amount       $500,000
Chronic Illness Amount Available  $366,649
Total Premiums Paid  $83,268
Death Benefit Remaining $0
New Monthly Premium   $0

How Living Protection helped Leilani

Eleven years after Leilani bought her protection program, she was diagnosed with stage 3 lung cancer. Unable to work for several months, Leilani utilized the Critical Illness benefit to pay medical bills, the mortgage and other expenses. Without this benefit, Leilani would not have had enough to cover many of these expenses.

Purchase Profile Female, age 46
Initial Face Amount       $400,000
Chronic Illness Amount Available  $146,336
Total Premiums Paid   $6,42
Death Benefit Remaining  $40,000
New Monthly Premium   $9

While the Chronic and Critical Illness benefits can provide valuable benefits, it is important to note that whether benefits are payable, as well as the amount of any benefit, depends on the impact a critical or chronic illness may potentially have on future mortality. The stories above are examples of how the Living Protection work. Individual results will vary. Schedule a call to learn how living benefits can work for you.