Hawaii Life Insurance

When you’re going through the motions of the day, it’s easy to forget the true fragility of life. Relationships, careers, children, and everyday obligations keep our mind off worst-case scenarios, but alas, they are still looming. It’s not a comfortable subject to broach, but it’s important to remember that we’re always subject to accidents, illnesses, and unexpected occurrences that change the course of our lives. Life insurance is an important subject to think over and discuss as an adult, no matter your age. Life insurance provides a financial cushion of support for the ones you love, allowing them to be able to face any financial obligations you leave behind. The Simple Dollar has sought out information, resources, and contacts for you to use when researching and considering life insurance.

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Stats in Your State

Each state is unique when it comes to life insurance. Below, you’ll find information from The Simple Dollar regarding Hawaii life insurance statistics that can help you better understand the workings and intricacies of life insurance in Hawaii.

Life Insurance in Hawaii

We've put together a description of how exactly the life insurance industry operates in Hawaii. Not only are there over 300 licensed life insurers in the state; there is also a significant amount of money paid to policyholders each year.

Number of Licensed Life Insurers 381
Total Life Insurance Coverage $116 billion
Average Policyholder Coverage $141,000 per life insurance policyholder*
Amount Paid Out in 2011 $2 billion **
Amount of Paid Annuity Benefits in 2011 $399 million
Source: ACLI.com

*Based on individual life insurance policies
**Includes death benefits, matured endowments, policy dividends, surrender values, and other payments.

Life Insurance Administered Programs

Over 6,500 men and women are insured through state and federal life insurance programs. Over 2,000 of these individuals are enrolled in veteran programs. For more information on life insurance for veterans, visit The Simple Dollar’s military life insurance guide.

The Life Insurance Industry: Beyond Insuring You

Job creator 4,000 jobs created
Invested in Hawaii 's Economy $20 billion was invested by life insurance companies in Hawaii
Source: ACLI.com

Rules in Your State

There are several outlined rules and regulations regarding life insurance practices in Hawaii. Read on to discover some of the recent legislation that has taken place in Hawaii and the nation as a whole. Finding the right life insurance plan will require you to stay abreast of all the important legislation that has taken place in the industry, so pay careful attention to the outlines and procedures in your life insurance policy.

Hawaii Life Insurance Rules and Regulations

This page featured on the Hawaii.gov website helps individuals understand life insurance policies, find out more about long-term care insurance, and find answers to almost all their life insurance questions.

Representatives & Resources in Your State

Without the proper resources, it can be tough to navigate the confusing life insurance industry. The Simple Dollar has compiled a few representative contacts and outside resources from both in and out of state for you to use in your hunt for reliable life insurance.

Department of Commerce & Consumer Affairs
Insurance Division
P.O. Box 3614
Honolulu, Hawaii 96811
Hawaii Department of Insurance & Complaint URL

Hawaii Life & Disability Insurance Guaranty Association
1132 Bishop Street Suite 1590
Honolulu, HI 96813
Get Directions

Hawaii Insurance Commissioner
Insurance Division
P.O. Box 3614
Honolulu, Hawaii 96811

National Organization of Life & Health Insurance Guaranty Associations
13873 Park Center Road, Suite 329
Herndon, VA 20171
Get Directions

Life & Health Insurance Foundation for Education
1655 N. Fort Myer Drive
Suite 610
Arlington, VA 22209
Get Directions

American Council of Life
101 Constitution Avenue, NW Suite 700
Washington, DC 20001-2133
Get Directions