INSIGHTS
Modern Mortgage Protection
Modern Mortgage Protection
Your home is likely one of your largest investments, especially if you live in Hawai‘i. And if you’re like most, your monthly mortgage payment is your single biggest expense. Mortgage protection provides the peace of mind that you and your family won’t lose your home in the event of changing circumstances. These plans typically pay the mortgage balance if the policyholder passes away within the coverage period, and they provide financial relief if the policyholder experiences a qualifying illness or disability.
Aloha, I’m Chad Kabins with the Hawai‘i Mortgage Protection Group. We are a kama‘āina company dedicated to helping Island residents protect their homes since 2006.
Hawai‘i Mortgage Protection Group can help you select the right Mortgage Protection plan to safeguard your home and family in the event of death or a disabling health condition. Every homeowner has different risks and vulnerabilities; we ensure that your coverage is customized to meet your needs.
Mortgage Protection Might Be Right for You:
- If you want protection to pay off the mortgage in the event of death
- If you just purchased a new home
- If you just opened an equity line of credit
- If you just refinanced an existing mortgage
- If you would be unable to pay the mortgage due to an illness if you were unable to work
- If you own multiple properties
- If you want to earn tax-free income
- If you have a spouse or child
- Protection For Your Life as Well as Your Home
One of the major reasons families lose their homes is not death but loss of income due to injury or illness. Living benefits, also called “accelerated benefits,” are a unique feature of our mortgage protection plans. They put money in your hands if you suffer a major illness—a heart attack, cancer, stroke—or if you require long-term care. Those funds can then pay the mortgage and other expenses. Our mortgage protection programs provide access to an emergency savings account if you suffer a qualifying condition so that you can truly protect your family, your legacy and your home.
The Hawai‘i Mortgage Protection group has helped over a thousand Island residents protect their homes from the unexpected. Click the link below to schedule a ten-minute homeowner protection call. It’s a free, ten-minute first step toward protecting your home and ensuring your family’s future—whatever comes.
Call: (808) 721-3396
Mortgage Protection. Your Choice. Your Solution.
Mortgage Protection. Your Choice. Your Solution.
Insuring against what can go wrong allows you the luxury to invest in what can go right. As a homeowner, you want the assurance of knowing that if you die or become disabled and unable to work, your family can remain in your home. Our Mortgage Protection plans can help reduce stress, risk and taxes while safeguarding your home and family.
Aloha, I’m Chad Kabins with the Hawai‘i Mortgage Protection Group. We are a kama‘āina company dedicated to helping Island residents protect their homes since 2006.
Could you afford health care if you were to suffer a chronic, critical or terminal illness?
We all know someone who has suffered from a heart attack, cancer, stroke or other condition that left them unable to work for several months or even permanently. Could you afford such a situation? Would you have to sell your home, deplete your 401k or depend on family? Living benefits provide you with the funds to pay the mortgage and other expenses if you fall ill or suffer injury, leaving your 401k and other assets intact.
Living benefits have come to the rescue of others just like you:
Chris was diagnosed with stage-three breast cancer at the young age of 52, five years after she had purchased a $1,500,000 mortgage protection plan that would pay off the home and leave a little extra money for her family if she passed away. Chris’ cancer qualified under the critical illness protection benefit of her mortgage protection plan. Even though she had paid only $14,806 in premiums up to that point, she received $585,485. Her death benefit was reduced to $150,000, and her premium to $29/month.
This emergency money came at a critical time for Chris. Unable to work for several months, the critical illness benefit helped pay medical bills, the mortgage and living expenses.
Without that money, Chris would have been unable to cover many of these expenses and might have lost her home.
Our team has helped over a thousand Island residents protect their home from the unexpected. Click the link below to schedule a ten-minute homeowner protection call. It’s a free, ten-minute first step toward protecting your home and ensuring your family’s future—whatever comes.
Call: (808) 721-3396
Planning for Retirement is like Summiting a Mountain
Planning for Retirement is like Summiting a Mountain
I recently accomplished a goal I’ve been working towards for the last couple of years: I hiked to the summit of Pu‘u Keahi a Kahoe, a mountain in the Ko‘olau range of O‘ahu. On that arduous, fifteen-mile hike, it occurred to me that summiting mountains is a lot like planning for retirement.
The climb up, like the work you do at your job to save for retirement, was long and at times difficult.
As glorious as it is to reach the summit, all climbers know that the peak is not the finish line; it’s the halfway point. You need to conserve enough energy to make it back down. Think of retirement as your halfway point. How much have you saved for what comes after?
Most mountaineering injuries happen on the descent, when your reserves are limited. What’s the analogy for retirement? Economic changes you can’t control, like market fluctuations, inflation and increased health care costs as you age. The skills needed to climb the mountain—to accumulate wealth while you were working—are different from those you’ll need to get safely down. On the way up, you’re growing your nest egg. Once retired, you’ll need to maximize what that nest egg produces.
Hawai‘i Mortgage Protection Group has been serving our Island community since 2006. Our team of mortgage protection and retirement specialists will help you look ahead and find which path is right for you to get you safely down the retirement mountain.
Schedule an appointment to review our six most popular programs, all proven to help homeowners live longer and happier lives.
Our comprehensive protection and wealth-building strategies include:
- Mortgage protection
- Tax-free income planning
- Lifetime guaranteed income
- Protected growth
- Living benefits/enhanced benefits for long-term care
- Tax-free estate planning
Research shows that homeowners like the security that comes with guaranteed predictable income. With our programs you have only growth potential, your yearly gains are locked in and you’re protected from market loss.
Hawai‘i Mortgage Protection Group has helped over a thousand Island residents protect their homes from the unexpected. We do much more than safeguard your home. We can help you create a prosperous future, with plans that provide tax-free income, that get you funds in an emergency, that help pay for long-term health care and that grow your retirement portfolio while insulating you from stock market downturns.
Click the link below to schedule a ten-minute homeowner protection call. It’s a free, ten-minute first step toward protecting your home and ensuring your family’s future—whatever comes.
Call: (808) 721-3396
The Living Benefit Mortgage Protection Program
The Living Benefit Mortgage Protection Program
If you’re like most people, your home is your most valuable asset and your monthly mortgage payment is your biggest expense. You work hard to pay that expense, but what if you suddenly weren’t able to?
We all know someone who has experienced an illness or injury that left them unable to work for months or longer. Could you afford a similar situation?
A mortgage protection plan has you covered in the event of illness, disability or death so that you and your family won’t lose your home.
One of the most valuable features of our mortgage protection programs are living benefits. They work like an emergency savings account if you suffer a qualifying condition.
How can living benefits help you?
At age 46, Leilani purchased a $400,000 protection program to pay off her mortgage upon her death. But, eleven years later she was diagnosed with stage-three lung cancer. Unable to work for several months, she took advantage of her plan’s critical illness benefit to help pay medical bills, the mortgage and other expenses. Since buying the plan, Leilani had paid $6,420 in premiums and received a critical illness benefit of $146,336. While her future death benefit would be reduced to $40,000 with a new monthly premium of $9, Leilani wouldn’t have been able to cover her expenses without the critical illness benefit.
Leilani is just one of hundreds of clients who have benefitted from our mortgage protection programs. There are hundreds of plans to choose from, each suited to different risks. At the Mortgage Protection Group, we evaluate your needs to customize a plan that ensures your mortgage is paid in the event of death or, like Leilani, puts money in your hands if you experience a heart attack, cancer, stroke or other qualifying health condition.
The Hawai‘i Mortgage Protection group has helped over a thousand Island residents protect their homes from the unexpected. Click the link below to schedule a ten-minute homeowner protection call. It’s a free, ten-minute first step toward protecting your home and ensuring your family’s future—whatever comes.
Call: (808) 721-3396
Retirees with a Guaranteed Income Are Happier and Live Longer
Retirees with a Guaranteed Income Are Happier and Live Longer
It’s true: According to Time and The Wall Street Journal, retirees who get a “paycheck” that lasts until the end of their lives are much happier and live longer than those who don’t.
It makes sense. A retiree’s number-one worry is running out of money. The research proves what common sense suggests: Guaranteed income reduces stress.
In the past, retirees could rely on Social Security and pensions to sustain them through their golden years. But today few employers offer pensions, putting the responsibility for saving on the employee. What’s more, Social Security payments equal only about 40 percent of the average pre-retirement income. How do you make up the difference after retirement?
The Hawai‘i Mortgage Protection Group’s Lifetime Income, Protected Growth and Fixed Guarantee programs provide both financial and psychological benefits. That’s a fact: According to a Limra Secure Retirement Institute study, our clients feel more confident that they’ll be able to afford their preferred lifestyle in retirement even if they live to age 100 or older.
Just like a car, there are lots of models that can get you from point A to point B. But you want the one with features best suited to how you drive. Our customized programs will supplement your Social Security, pension or employer 401k and take the worry out of retirement because your monthly payments are guaranteed, even if you live past 100.
Hawai‘i Mortgage Protection Group does much more than safeguard your home. We can help you create a prosperous future, with plans that provide tax-free income, that get you funds in an emergency, that help pay for long-term health care and that grow your retirement portfolio while insulating you from stock market downturns.
The Hawai‘i Mortgage Protection group has helped over a thousand Island residents protect their homes from the unexpected. Click the link below to schedule a ten-minute homeowner protection call. It’s a free, ten-minute first step toward protecting your home and ensuring your family’s future—whatever comes.
Call: (808) 721-3396
Guaranteed Income that Lasts as Long as You Do
Guaranteed Income that Lasts as Long as You Do
What if you had a guaranteed monthly income for the rest of your life? It’s been proven that people who do live longer, happier lives. Time and Wallstreet Journal
Aloha, I’m Chad Kabins with The Hawaii Mortgage Protection Group. My team and I have been serving our Island community since 2006. I’m going to explain how you, too, can secure guaranteed monthly income that you can’t outlive.
My mother, a retired teacher, is living her best life in retirement with guaranteed, predictable monthly income. Days before my parents were to celebrate thirty-five years of marriage, my father died of a heart attack at the age of 56. Talk about unexpected. Fortunately, he had a $175,000 life insurance policy.
My mother was still working at the time and didn’t need the money for living expenses, but she would eventually need it for retirement. She invested in a program that guaranteed a predictable monthly income, and the longer she deferred receiving that, the more it grew.
Nine years later, my mother retired and has received $1,729 every month since.
Assuming my mother lives to age 90—a reasonable life expectancy with modern medicine—she will have received $414,960 from an initial deposit of only $175,000. What’s more, the monthly income is guaranteed until the day she dies. The longer she lives, the more income she receives—truly a retirement “paycheck” that will last her lifetime.
Hawai‘i Mortgage Protection Group does much more than safeguard your home. We can help you create a prosperous future, with plans that provide tax-free income, that get you funds in an emergency, that help pay for long-term health care and that grow your retirement portfolio while insulating you from stock market downturns.
The Hawai‘i Mortgage Protection group has helped over a thousand Island residents protect their homes from the unexpected. Click the link below to schedule a ten-minute homeowner protection call. It’s a free, ten-minute first step toward protecting your home and ensuring your family’s future—whatever comes.
This information is not intended to provide tax, legal or investment advice.
Call: (808) 721-3396
Why trust your retirement savings to a former employer?
Why trust your retirement savings to a former employer?
An introduction to rollovers
If you’re of working age, you’ve likely heard the term “rollover.” Maybe you have an idea of how they work. Maybe you’ve even completed one. Even if you’ve done a rollover in the past, this guide will help you get the most out of your retirement plan.
The information below will
- Cover the basics for the uninitiated and give a refresher for the experienced
- Walk through the considerations you’ll want to make before deciding whether a rollover is right for you
- Provide an overview of the simple, three-step process to start moving your money
What’s a rollover?
A rollover moves funds from one tax-deferred savings vehicle into another. “Direct rollovers” do so without affecting the tax-deferred status of those funds.
One common example is the 401k plan offered by employers. The money you put in—and any matching contribution from your employer—isn’t taxed up front. Any growth in that account is also tax-deferred. The advantage is that compound interest is applied to the full amount you’ve invested, and the interest it earns is also tax-deferred.
Rather than pay taxes when the money goes in, you pay them when the money comes out.
But what happens if you experience a “separation of service” from your employer—you quit, get fired, laid off or retire? If you withdraw the money you must pay taxes on it, and if you do it before the age of 59.5, you’ll pay a hefty 10.5% penalty on top of those taxes. But a rollover allows you to move your money to another tax-deferred account without taxes or penalties.
If you have a 401k with a former employer and you’ve never done anything with that money, it’s likely still in their care. But it doesn’t have to be.
What are my options?
Any time you change jobs or leave an employer where you have money saved for retirement, you have several options:
- Cash out, offering extra liquidity if you need it
- Leave the money in your prior employer’s plan
- Roll the money into a new employer’s plan
- Roll it into a new personal account like one of our Protected Growth programs. This account is yours and will not be impacted by future job changes.
Whatever you choose, be certain it’s right for you, because it can be difficult or impossible to undo the transaction once it’s complete.
This is not a comprehensive list of options. Schedule a time to meet with one of our professionals and your tax adviser to discuss other opportunities that may be right for you.
For each option, ask yourself the following:
Cash out
- Do you need extra liquidity due to an unexpected expense?
- Can you afford a tax consequence?
- Would you prefer to earn compound interest on your money?
- Would you prefer your money to continue growing tax deferred?
Leave the money in your prior employer’s plan
- Do you understand any rules and restrictions around keeping this plan?
- Do you like your current investment options and expense ratios?
- Are you comfortable with your former employer controlling the plan?
- Will you have the flexibility to make changes to your plan?
Roll it into your new employer’s plan
- Does your new employer’s plan allow roll-ins, and do you understand the transfer process?
- Will you have control of how your money is invested?
- Is consolidating your retirement accounts in one place important to you?
- Will you have sufficient diversification options in the new plan?
Roll it into one of our Protected Growth programs
- Do you have a financial professional to help you establish the account? We can help.
- Are you interested in establishing an independent account that is yours, no matter future job changes?
- Do you want to make your own account choices, such as deciding on a carrier and where your money is invested?
- Do you want a Roth conversion option?
Completing a rollover into a Protected Growth program is easy as 1-2-3:
- Our team of financial professionals will guide you through the pros and cons of a rollover and inform you of any special rules under your plan.
- If you choose to go forward with a rollover, our team will help you pick a reliable, stable insurance carrier or financial institution to manage it.
- We inform your former employer’s plan administrator about your new account and complete the transfer on your behalf.
Hawai‘i Mortgage Protection Group does much more than safeguard your home. We can help you create a prosperous future, with plans that provide tax-free income, that get you funds in an emergency, that help pay for long-term health care and that grow your retirement portfolio while insulating you from stock market downturns.
Hawai‘i Mortgage Protection group has helped over a thousand Island residents protect their homes from the unexpected. Click the link below to schedule a ten-minute homeowner protection call. It’s a free, ten-minute first step toward protecting your home and ensuring your family’s future—whatever comes.
This information is not intended to be legal, tax or investment advice. Schedule an appointment with us to discuss your specific situation. Required distributions are taxable. Talk to your tax adviser about how this may affect your situation.
Call: (808) 721-3396
The Four Costs Retirees Underestimate
The Four Costs Retirees Underestimate
You’ve carefully planned for your retirement. You’ve calculated the monthly bills, the cost for housing, food, insurance. But have you set enough aside for travel, medical care and children/grandchildren?
Aloha, I’m Chad Kabins with National Benefit Brokers. We specialize in wealth-building, risk management, tax planning and guaranteed lifetime income strategies. Below are the four costs retirees often underestimate. They are common pitfalls that can easily be avoided with smart planning.
Accounting for inflation
Many retirees plan using today’s dollar but as we know, a dollar isn’t worth what it was twenty years ago, and in twenty years it won’t be worth what it is now. Many advisors plan for a 2 percent annual inflation rate, but that’s just a guess: Inflation in the first ten months of 2022 hit an alarming 8.25%. To understand what a difference inflation makes, look back at what a dollar today could buy in 1980, 1990, 2000 and 2010 and see how much value it’s lost. Plan for what you’ll need in 2040, not what you need in 2022.
Increased cost of living after a spouse’s death
When a spouse dies, the surviving spouse’s income can be drastically reduced—especially if the deceased spouse was receiving a pension. Instead of a full pension and two Social Security benefits, the surviving spouse might be left with a pension’s survivor benefit and one Social Security income. If the surviving spouse worked less during his or her pre-retirement or earned significantly less, this must be factored into a retirement plan.
Continuing support for children and grandchildren
An empty nest can still mean an empty wallet when your kids need your help. Of course we hope for the best, but the unexpected happens: Your child gets divorced or needs support for your grandchild’s tuition, for example. We’ve seen retired parents taking out mortgages to help their kids buy homes. It can be difficult to say no to your children, so it’s important to expect the unexpected when planning for retirement.
Following a budget
Retirees often spend more than they can afford, especially early in their retirement. Some don’t stick to their plan strictly enough. Not only does this jeopardize their income, it creates mental distress. Following your plan eases that stress and ensures that you’ll have enough to see you through the end of your golden years.
Let’s schedule a time to discuss your retirement goals, needs and expenses. Together we can prepare for the expected and unexpected so that your retirement doesn’t get derailed.
Hawai‘i Mortgage Protection Group does much more than safeguard your home. We can help you create a prosperous future, with plans that provide tax-free income, that get you funds in an emergency, that help pay for long-term health care and that grow your retirement portfolio while insulating you from stock market downturns.
The Hawai‘i Mortgage Protection group has helped over a thousand Island residents protect their homes from the unexpected. Click the link below to schedule a ten-minute homeowner protection call. It’s a free, ten-minute first step toward protecting your home and ensuring your family’s future—whatever comes.
Call: (808) 721-3396
Your Six-step Retirement Checklist
Your Six-step Retirement Checklist
Many people feel overwhelmed as their retirement approaches. Our clients often tell us they just didn’t know where to begin—until they meet us.
As you approach retirement, the team at Hawaii Mortgage Protection Group can help you prepare to live out your golden years the way you want to. The six steps on the checklist below are a good start, and we can guide you through it if you need assistance. Our clients report a sense of accomplishment and relief as they complete each task, and they tell us it helps them stick with the program.
1. Make a retirement budget
Assess your spending so you’re ready for the day the paychecks stop. Keep in mind the budget you create today won’t be set in stone: Most people spend more earlier in retirement, less in the middle years when a routine is in place, and more again in later years when health issues drive expenses back up. Have a look at our “paycheck” that lasts a lifetime program, which ensures guaranteed monthly income that you can’t outlive.
2. Calculate your Social Security benefit
To estimate your Social Security benefit, log in at ssa.gov/myaccount. If you’re not sure when to start receiving benefits, use the Social Security Administration’s Quick Calculator, which shows how your benefits change depending on when you take them. It’s an important part of the equation, because the amount can drop by about 30 percent if you start receiving benefits before you reach full retirement age. For every year you defer after full retirement age, your benefit grows at 8 percent per year.
3. Calculate your pension
If you have a pension, talk to your human resources department or pension benefit manager to get an idea of what your monthly payout will be. There might be different options. If you’re married, ask whether the pension provides a survivor benefit and whether your regular payment will be cut to provide that benefit. Ask us about our pension maximization programs to see if they might be a good fit for you.
4. Balance Your Portfolio
As you approach retirement, your investments should carry less risk to protect your savings against market downturns. The wealth-building strategies you might have used while working are different from the wealth protection strategies you’ll need in retirement. During your working years, you’re growing your nest egg. Once retired, you need to focus on how the nest egg is performing for you.
5. Reset Your Insurance
Review your insurance policies—home and auto, life, long-term care, etc.—to make sure you have the right levels of coverage. If you need to cut expenses, you can raise deductibles on certain policies. Review your options for health insurance as well. If you’re too young for Medicare, you might get coverage under your spouse’s policy, buy COBRA from your employer, take advantage of a pension plan’s health benefit or purchase insurance on the Hawai‘i exchange or healthcare.gov. Ask us about our complimentary policy reviews. We are happy to help.
6. Determine Where You’ll Live
Where you live, especially if you still have a mortgage, is an important piece of the retirement puzzle. If your dream is to relocate, consider renting for a while to see if you really like it. Think about where you want to be as you age. Will you want to age in your current location? What health care costs will be associated with that location? Will you move to a 55 and up community? What about assisted living? These should all factor into your retirement planning.
By taking steps to understand your finances and identify your sources of retirement income, you can create strategies that check all the boxes and give you security in retirement.
Hawai‘i Mortgage Protection Group does much more than safeguard your home. We can help you create a prosperous future, with plans that provide tax-free income, that get you funds in an emergency, that help pay for long-term health care and that grow your retirement portfolio while insulating you from stock market downturns.
Hawai‘i Mortgage Protection group has helped over a thousand Island residents protect their homes from the unexpected. Click the link below to schedule a ten-minute homeowner protection call. It’s a free, ten-minute first step toward protecting your home and ensuring your family’s future—whatever comes.
Call: (808) 721-3396
Protecting Your Mortgage while Enhancing Your Retirement
Protecting Your Mortgage while Enhancing Your Retirement
If you’re like most homeowners, your home is your most valuable asset and your mortgage is your biggest expense. You work hard to pay the mortgage each month, but what if you suddenly couldn’t? A mortgage protection plan has you covered so that in the event of illness, disability or death, you and your family won’t lose your home.
A unique feature of our mortgage protection programs is the living benefit. If you suffer a major illness—heart attack, cancer, stroke and others—the living benefit ensures that you can access funds to pay your mortgage and other expenses.
Mortgage protection is not one-size-fits-all. Everyone is different, with different protection needs. At the Mortgage Protection Group, we evaluate your needs to create a customized plan that pays your mortgage in the event of death and puts money in your hands if you become sick or disabled.
Let us help you determine which mortgage protection plan will work best for you—schedule a call and take the first step toward safeguarding your home and family’s security.
Your Choice. Your Solution.
Hawai‘i Mortgage Protection Group does much more than safeguard your home. We can help you create a prosperous future, with plans that provide tax-free income, that get you funds in an emergency, that help pay for long-term health care and that grow your retirement portfolio while insulating you from stock market downturns.
Hawai‘i Mortgage Protection group has helped over a thousand Island residents protect their homes from the unexpected. Click the link below to schedule a ten-minute homeowner protection call. It’s a free, ten-minute first step toward protecting your home and ensuring your family’s future—whatever comes.
Call: (808) 721-3396