Haw. Code R. § 16-6-6 - Termination of coverage
(a) 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 shall be continued for the
entire period for which the single premium has been paid, subject to the
debtor's right to cancel the insurance at any time by express action.
(b) If a debtor is covered by a group credit
insurance policy providing for the payment of premiums to the insurer on a
monthly outstanding balance basis, then the policy shall provide that, in the
event of termination of such policy for whatever reason, the insured debtor
shall be notified that coverage will continue for thirty days from the date of
notice, except where replacement of the coverage by the same or another insurer
in the same or greater amount takes place without lapse of coverage. The notice
required in this section shall be given by the insurer or, at the option of the
insurer, by the creditor.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.