Business Insurance

Protect and position your business well now for the future.

160 years of serving businesses in Hawaii and building business success 

As an entrepreneur, you’re building a business you can call your own because the pride, freedom, and sense of accomplishment you earn make your investments of hard work and sacrifice worthwhile.

Your business and its success depend on the solid foundation you build for it—as well as the value you create for the people who contribute to its growth. We provide you with customized business tools you can use to create an organization that easily stands above the rest and is ready for the future.

Employee Benefits

Controlling the cost of labor can help you get a competitive advantage. We assist you by:
  • Designing a comprehensive benefits program that will integrate your benefits with the company's business strategy, compensation philosophy, and human resource needs while also meeting the needs of your employees

  • Finding more effective ways to control health care costs—those currently in use and those at the leading edge

  • Selecting the appropriate retirement plan
  • Designing, implementing and monitoring a company retirement plan that fits your needs
  • Communicating your employee benefits effectively, which helps you retain your competitive position in the labor market.
Employee benefits we may suggest include:
  • Medical Insurance - Provide medical coverage for your employees and their families at competitive rates
  • Group term insurance – Offers employees more affordable insurance rates while providing a benefit to beneficiaries should the insured employee die during the term
  • Long-term care insurance – Helps employees protect their retirement plans, gives them a choice about their health care, and eases the financial and emotional burden on their families
  • Temporary disability insurance – Provides employees short-term coverage during the initial weeks of a disabling accident or illness, and adds peace of mind and support for recovery
  • Long term disability insurance – Provides employees a steady stream of income while they are unable to work during an extended period of a disabling illness or accident
  • Cafeteria plans – Offers pre-tax flexibility in health benefits by providing employees with cost effective supplemental insurance they need while maximizing the dollars committed by the employer

Executive Compensation

Recruiting and retaining great employees is one of the keys to success. These employees often become an irreplaceable part of your company—and keeping them can be crucial to a business' long-term goals and strategies.

With salaries being so competitive, supplemental plans that offer long-term financial incentives are a key component in many compensation and benefit programs. Employees can receive various forms of executive compensation in return for their promise to remain with the company.

  • Supplemental executive compensation – A business agreement that provides defined contributions or future benefits when specific conditions are met

  • Deferred compensation – This nonqualified plan provides compensation to key employees or executives through a life insurance policy with benefits and income taxes deferred until retirement

Business Succession

You've worked hard to build a great business. With careful planning, you're looking forward to a bright and successful future. What would happen to your business if you or another owner dies, becomes disabled, or wants to retire?

Without an agreement between the current owners, you may risk the business being owned by an unqualified person—or even a competitor. Proper planning can help business owners maintain control when a change of ownership becomes necessary. 

    • Exit strategy: A comprehensive lifetime plan that establishes your retirement plan, arranges for a business succession plan, and incorporates both these strategies into your estate plan.

    • Key person insurance: A cost-effective way to ensure your business will have the necessary funds to replace a key individual who passes away, protect the business from any resulting monetary loss, or finance succession and estate plans.

    • Business continuation strategy: A comprehensive plan that includes the purchase of life insurance for each business owner and a Buy-Sell Agreement that, upon the death, disability or retirement of an owner, identifies the purchaser of the business, price and terms of the sale in addition to providing cash values or death benefits as specified in the agreement.

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    First Hawaiian Bank’s Wealth Management Group provides investment advice and financial products and services through First Hawaiian Bank. First Hawaiian Bank does not provide tax or legal advice.