Terms Used In Hawaii Revised Statutes 431:9A-103

• 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.
• Class: means the general categories of insurance, as set forth in §§ 431:1-204 to 431:1-210, in which insurers may be authorized to transact the business of insurance. See Hawaii Revised Statutes 431:9A-102
• Limited lines insurance: means those lines of insurance a producer may be licensed to sell pursuant to section 431:9A-107. See Hawaii Revised Statutes 431:9A-102
• Line of authority: means a category of insurance products, as set forth in section 431:9A-107(a), which an insurance producer may be licensed to sell pursuant to this article. See Hawaii Revised Statutes 431:9A-102
• Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms, or conditions of the contract; provided that the person engaged in the act either sells insurance or obtains insurance from insurers for producers. See Hawaii Revised Statutes 431:9A-102
• producer: means a person required to be licensed under the laws of this State to sell, solicit, or negotiate insurance. See Hawaii Revised Statutes 431:9A-102
• Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company. See Hawaii Revised Statutes 431:9A-102
• Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. See Hawaii Revised Statutes 431:9A-102