Hawaii Revised Statutes 657D-33 – Form of application; reports to insurance commissioner by insurer; policy deemed modified upon application for protection
Terms Used In Hawaii Revised Statutes 657D-33
- 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
- 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
Any writing signed by the insured and identifying the policy and the insurer, and agreeing that the insured’s rights under the policy are subject to and modified by this part, shall be sufficient as an application for the benefits of this part, but the insurance commissioner may require the insured and insurer to execute other appropriate forms. Upon receipt of the application of the insured, the insurer shall furnish such report to the insurance commissioner concerning the policy as shall be prescribed by rules adopted under chapter 91. When an insured has applied for protection under this part, the policy is deemed to have been modified to conform to the provisions of this part.