Hawaii Revised Statutes 431:10D-401

This part shall apply to all group and individual life insurance policies and certificates except:

(1) Variable life insurance;

Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.

(2) Individual and group annuity contracts;

(3) Credit life insurance; and

(4) Life insurance policies with no illustrated death benefits for any individual exceeding $10,000.

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