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Hawaii Revised Statutes Division 2. Business § 431:10D-211.5

Current as of January 01, 2025 | Updated by Findlaw Staff

Group life insurance offered to a Hawaii resident under a group life insurance policy issued to a group, other than a group described in sections 431:10D-202 through 431:10D-211, shall be subject to the following requirements:

(1) No group life insurance policy shall be delivered in this State unless the commissioner finds that:

(A) The issuance of the group life insurance policy is not contrary to the best interest of the public;

(B) The issuance of the group life insurance policy would result in economies of acquisition or administration; and

(C) The benefits of the group life insurance policy are reasonable in relation to the premium charged;

(2) No group life insurance coverage may be offered in this State, pursuant to this section, by an insurer under a group life insurance policy issued in another state, unless:

(A) The commissioner finds that the requirements of paragraph (1) have been met; or

(B) The issuing state has requirements substantially similar to those contained in paragraph (1) and has determined that those requirements have been met;

(3) The premium for a group life insurance policy issued pursuant to this section shall be paid by the policyholder, by covered persons, or both; and

(4) An insurer may exclude from coverage or limit the coverage on any person as to whom evidence of individual insurability is not satisfactory to the insurer under a group life insurance policy issued pursuant to this section.

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Cite this article: FindLaw.com - Hawaii Revised Statutes Division 2. Business § 431:10D-211.5 - last updated January 01, 2025 | https://codes.findlaw.com/hi/division-2-business/hi-rev-st-sect-431-10d-211-5/

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