Hawaii Revised Statutes 657D-32 – Persons entitled to benefits; applications; amount of insurance protected
Terms Used In Hawaii Revised Statutes 657D-32
- Insured: includes any person in the state military forces, whose life is insured under and who is the owner and holder and has an interest in a policy. See Hawaii Revised Statutes 657D-31
- Insurer: includes any firm, corporation, partnership, or association chartered or authorized to engage in the insurance business to issue a policy as defined by the laws of a state or of the United States. See Hawaii Revised Statutes 657D-31
- Person: when used with reference to the holder of any right alleged to exist against a person in military service or against a person secondarily liable under such right, includes individuals, partnerships, corporations, and any other forms of business association. See Hawaii Revised Statutes 657D-1
- Policy: includes any contract of life insurance or policy on a life, endowment, or term plan, including any benefit in the nature of life insurance arising out of membership in any fraternal or beneficial association, that does not provide for the payments of any sum less than the face value thereof or for the payment of an additional amount as premiums if the insured engages in the military service of the United States or which does not contain any limitations or restrictions upon coverage relating to engagement in or pursuit of certain types of activities which a person might be required to engage in by virtue of the person's being in that military service, and:
(1) Which is in force on a premium-paying basis at the time of application for benefits hereunder; and
(2) Which was made and a premium paid thereon not less than one hundred eighty days before the date insured entered into the military service. See Hawaii Revised Statutes 657D-31
The benefits and privileges of this part shall apply to any insured when the insured, or a person designated by the insured, makes written application for protection under this part, unless the insurance commissioner in passing on the application finds that the policy is not entitled to protection under this part. The adjutant general shall give notice to the state military forces of the provisions of this part, and shall include in the notice an explanation of the provisions for the information of those desiring to make application for benefits. The original of the application shall be sent by the insured to the insurer, and a copy to the insurance commissioner. The total amount of insurance on the life of one insured under policies covered by this part shall not exceed $10,000. If an insured applies for protection of policies on the insured’s life totaling insurance in excess of $10,000, the insurance commissioner may have the amount of insurance divided into two or more policies so that the protection of this part may be extended to include policies for a total amount of insurance not to exceed $10,000, and a policy which affords the best security to the government shall be given preference.