Key Takeaways
- Hawaii requires a 10-day free look period for annuity contracts
- Hawaii follows the NAIC Suitability in Annuity Transactions Model Regulation
- Producers must document suitability analysis before recommending annuities
- Replacement annuities require detailed comparison disclosures
Last updated: January 2026
Hawaii Annuity Regulations
Hawaii has adopted comprehensive annuity regulations to protect consumers.
Free Look Period
Hawaii provides a 10-day free look period for annuity contracts:
- Applies to all annuity types (fixed, variable, indexed)
- Buyer can return for full premium refund
- Period begins when contract is delivered
Suitability Requirements
Hawaii follows the NAIC Suitability in Annuity Transactions Model Regulation:
Producer Duties
Before recommending an annuity, the producer must:
- Make reasonable efforts to obtain customer information
- Analyze whether the recommendation is suitable
- Document the basis for the recommendation
- Disclose all material information about the product
Required Information
| Category | Information Required |
|---|---|
| Financial Status | Income, liquid assets, financial needs |
| Tax Status | Tax bracket, qualified vs. non-qualified funds |
| Investment Objectives | Goals, time horizon, risk tolerance |
| Existing Coverage | Current annuities and life insurance |
| Liquidity Needs | Expected need for funds |
Test Your Knowledge
What is the free look period for annuities in Hawaii?
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Test Your Knowledge
What must a producer document before recommending an annuity in Hawaii?
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