Hawaii Administrative Rules Title 16 Chapter 6, Credit Life and Credit Disability Insurance, HAR 16-6-1 to 16-6-16 (REGULATIONS, not HRS)

What this document is

Hawaii Administrative Rules Title 16 Chapter 6, Credit Life and Credit Disability Insurance, HAR 16-6-1 to 16-6-16 (REGULATIONS, not HRS) is a regulation published by Hawaii Department of Commerce and Consumer Affairs, Insurance Division. It is one of the Hawaii documents that insurance license exam questions are written from, including hawaii life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Hawaii Administrative Rules ch. 16-6 § 16-6-9(1) (Involuntary prepayment of indebtedness)

  “If an indebtedness is prepaid by the proceeds of a credit life insurance policy covering the debtor or by a lump sum payment of a disability claim under a credit insurance policy covering the debtor, then it shall be the responsibility of the insurer to see that the following refunds are paid to...”

• Hawaii Administrative Rules ch. 16-6 § 16-6-16(1) (Prohibited transactions)

  “The following practices, when engaged in by insurers in connection with the sale or placement of credit insurance, or as an inducement thereto, shall constitute unfair methods of competition and shall be subject to section 431:13-102, HRS: (1) The offer or grant by an insurer to a creditor of any...”

• Hawaii Administrative Rules ch. 16-6 § 16-6-3 (Substitution)

  “When a creditor requires credit life insurance, credit disability insurance, or both, as additional security for an indebtedness, the debtor shall be given the option of furnishing the required amount of insurance through existing policies of insurance owned or controlled by the debtor or procuring...”

• Hawaii Administrative Rules ch. 16-6 § 16-6-6(a) (Termination of coverage, single premium group policies)

  “If a debtor is covered by a group credit insurance policy providing for the payment of single premiums to the insurer, then provision shall be made by the insurer that in the event of termination of the policy for any reason, insurance coverage with respect to any debtor insured under such policy...”

• Hawaii Administrative Rules ch. 16-6 § 16-6-8(2) (Voluntary prepayment of indebtedness, credit disability insurance)

  “If a debtor prepays the indebtedness other than as a result of the debtor’s death or through a lump sum disability payment: (1) Any credit life insurance covering such indebtedness shall be terminated and an appropriate refund of the credit life insurance premium shall be paid to the debtor in...”

• Hawaii Administrative Rules ch. 16-6 § 16-6-13(a)(2) (Refunds; single premium level term credit life insurance)

  “Schedules used to compute the refund in connection with single premium level term credit life insurance must provide for a refund at least equal to the amount which would be provided by the "pro rata" method.”

• Hawaii Administrative Rules ch. 16-6 § 16-6-7 (Renewal or refinancing of indebtedness)

  “If the indebtedness is discharged due to renewal or refinancing prior to the scheduled maturity date, the insurance in force shall be terminated before any new insurance may be issued in connection with the renewed or refinanced indebtedness. In all cases of such termination prior to scheduled...”

• Haw. Admin. R. § 16-6-7 (Hawaii Administrative Rules Title 16 Chapter 6, Credit Life and Credit Disability Insurance)

  “§16-6-7 Renewal or refinancing of indebtedness. If the indebtedness is discharged due to renewal or refinancing prior to the scheduled maturity date, the insurance in force shall be terminated before any new insurance may be issued in connection with the renewed or refinanced indebtedness. In all...”

• Haw. Admin. R. § 16-6-15(a) (Hawaii Administrative Rules Title 16 Chapter 6, Credit Life and Credit Disability Insurance)

  “§16-6-15 Responsibility of insurer to review each lender’s account. (a) Each insurer transacting credit insurance in this State shall be responsible to make a reasonable review of each creditor’s procedures, at least annually, with respect to its credit insurance business with such creditor to...”

• Haw. Admin. R. s. 16-6-2 (Multiple plans of insurance)

  “§16-6-2 Multiple plans of insurance. If a creditor makes available to the debtors more than one plan of credit life insurance or more than one plan of credit disability insurance, all debtors must be informed of all available plans.”

Practice this material

Questions about this source

More Hawaii sources

• Hawaii Revised Statutes § 431:13-103 - Unfair methods of competition and unfair or deceptive acts or practices definedState statute
• Hawaii Administrative Rules Title 16 Chapter 18, Hawaii Life and Disability Insurance Guaranty Association Summary Document, Disclaimer and Written Notice, HAR 16-18-1 to 16-18-4 with Exhibits A and B (REGULATIONS, not HRS)Regulation
• Hawaii Administrative Rules Title 16 Chapter 171, Subchapter 4 (2001 CSO Mortality Table), Subchapter 5 (Preferred Mortality Tables) and Subchapter 9 (Valuation of Life Insurance Policies), HAR 16-171-401 to 16-171-405, 16-171-501 to 16-171-504, 16-171-901 to 16-171-906 (REGULATIONS, not HRS)Regulation
• Hawaii Administrative Rules Title 16 Chapter 12, Medicare Supplement Insurance Minimum Standards, HAR 16-12-1 to 16-12-13 (REGULATIONS, not HRS)Regulation
• Hawaii Administrative Rules Title 16 Chapter 171, Subchapter 6, Military Sales Practices, HAR 16-171-601 to 16-171-606 (REGULATIONS, not HRS)Regulation
• Hawaii Administrative Rules Title 16 Chapter 171 (Miscellaneous Insurance Rules), Subchapter 1 General Provisions and Subchapter 3 Licensing Requirements, HAR 16-171-101 to 16-171-103 and 16-171-301 to 16-171-324 (REGULATIONS, not HRS)Regulation
• Hawaii Insurance Content OutlinesCandidate handbook or exam outline
• Hawaii Insurance Licensing Candidate HandbookCandidate handbook or exam outline