[§431:10D-211.5]  Other groups; limits.  Group 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. [L 2010, c 32, §1]