Resident Life Settlement Broker
Effective January 1, 2022, penalty fee, reinstatement/reactivation 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.
Resident Life Settlement Broker – Individual (Initial License)
For initial or if you held a HI resident Life Settlement Broker license that was inactive for more than one year.
Before submitting your application:
- You shall have a current license for at least one year as an insurance producer with a life line of authority; and
- You shall submit fingerprints even if fingerprints were submitted for another license. To obtain fingerprints, schedule an appointment online at https://www.fieldprinthawaii.com. Fees collected by Fieldprint include state and federal submission fees. Effective September 1, 2018, all applicants must enter “HI-DCCA-INS”, the code that identifies the Insurance Division as the intended recipient of your fingerprint result, when scheduling an online appointment with Fieldprint.
To apply electronically:
- Go to https://nipr.com/ to apply for the license (Use NIPR’s “Apply for a New License” online application).
- Submit a detailed anti-fraud plan that meets the requirements of section 431C-48 via NIPR’s Attachments Warehouse (within 7 days from the date the online application is submitted).
IMPORTANT: The detailed anti-fraud plan is 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.
Resident Life Settlement Broker – Business Entity (Initial License)
For initial or if you held a HI resident Life Settlement Broker license that was inactive for more than one year.
Before submitting your application:
The entity shall have a current license for at least one year as an insurance producer with a life line of authority; and
To apply electronically:
- Go to https://nipr.com to apply for the license (Use NIPR’s “Apply for a New License” online application).
- 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 resident life settlement broker;
- Submit a detailed anti-fraud plan that meets the requirements of section 431C-48 via NIPR’s Attachments Warehouse (within 7 days from the date the online application is submitted).
IMPORTANT: The detailed anti-fraud plan is 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.
RESIDENT LIFE SETTLEMENT BROKER – INDIVIDUAL & BUSINESS ENTITY (LICENSE RENEWAL & LATE RENEWAL)
LATE RENEWAL: If you held a HI resident Life Settlement Broker 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).
RESIDENT LIFE SETTLEMENT BROKER – INDIVIDUAL & BUSINESS ENTITY (LICENSE Reinstatement)
REINSTATEMENT: If you held a HI resident Life Settlement Broker 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 requirements and instructions in the beginning of the page to apply for the individual (Initial) or the business entity (initial) Life Settlement Broker license via https://nipr.com (Use NIPR’s “Apply for a New License” online application.)