Nonresident Life Settlement Provider

Effective January 1, 2022, penalty fee, reinstatement term, CE term and certain licensing requirements will be changed and implemented, please refer to  Commissioner’s Memorandum 2021 – 9LIC  for more information.

Effective November 15, 2022, new changes and mandatory requirements for individuals and business entities due to the transition to NAIC’s State Based System (SBS), please refer to Commissioner’s Memorandum 2022-10LIC.

Nonresident Life Settlement Provider – Individual (Initial License)

For initial or if you held a HI nonresident Life Settlement Provider license that was inactive for more than one year.

To apply electronically:

  1. Go to https://nipr.com to apply for the license (Use NIPR’s “Apply for a New License” online application);
  2. Submit a detailed plan of operation via NIPR’s Attachments Warehouse (within 7 days from the date the online application is submitted).
  3. Submit an anti-fraud plan that meets the requirements of HRS section 431C-48 via NIPR’s Attachments Warehouse (within 7 days from the date the online application is submitted).

IMPORTANT: The detailed plan of operation and the anti-fraud plan are required to be attached to the NIPR’s attachment Warehouse within 7 days of submitting the application.  Your application may be considered “rejected” if Licensing Branch does not receive the document(s) within 7 days from the date the application is submitted.  No refund if application is rejected.

Nonresident Life Settlement Provider – Business Entity (Initial License)

For initial or if you held a HI nonresident Life Settlement Provider license that was inactive for more than one year.

To apply electronically, go to https://nipr.com and use NIPR’s “Apply for a New License” online application.

The applicant shall submit the following:

  1. The entity shall designate an individual who is responsible for the actions of the entity and its employees. The designated individual shall be a licensed Life Settlement Provider;
  2. A detailed plan of operation NIPR’s Attachments Warehouse (within 7 days from the date the online application is submitted).
  3. An anti-fraud plan that meets the requirements of HRS 431C-48 via NIPR’s Attachments Warehouse (within 7 days from the date the online application is submitted).

IMPORTANT: The detailed plan of operation and the anti-fraud plan are required to be attached to the NIPR’s attachment Warehouse within 7 days of submitting the application.  Your application may be considered “rejected” if Licensing Branch does not receive the document(s) within 7 days from the date the application is submitted.  No refund if application is rejected.

Nonresident Life Settlement Provider – Individual & Business Entity (License Renewal & Late Renewal)

LATE RENEWAL: If you held a HI nonresident Life Settlement Provider license that has been inactivated within one year of expiration.

Go to https://nipr.com to renew license or pay renewal late fee for the license electronically (Use NIPR’s “Renew an Existing License” online application).

Nonresident Life Settlement Provider – Individual & Business Entity (License Reinstatement)

REINSTATEMENT:  If you held a HI nonresident Life Settlement Provider license that has been inactivated for more than one year.  You must apply as a new applicant.

You will apply as a new applicant for initial application.  Follow the same instructions and requirements in the beginning of the page to apply for the individual (Initial) or the business entity (initial) Life Settlement Provider license via https://nipr.com.