Section 431:10D-211.5 - Other groups; limitsGroup 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.