Appts Variable Life Annuities 02 07 12

NEIL ABERCROMBIE GOVERNOR BRIAN SCHATZ LT. GOVERNOR TO: FROM: RE: STATE OF HAWAl'I INSURANCE DIVISION DEPARTMENT OF COMMERCE & CONSUMER AFFAIRS P. 0. BOX 3614 HONOLULU, HAWArl 96811-3614 335 MERCHANT STREET, ROOM 213 HONOLULU, HAWAl'I 96813 PHONE NO: (606) 586-2790 FAX NO: (SOS) 586-2606 www.llawali.gov/dccalareasllns February 7, 2012 KEALl'I S. LOPEZ DIRECTOR GORDON I. ITO INSURANCE COMMISSIONER MEMORANDUM 2012-2LIC Resident and Nonresident Producers Licensed in Hawaii ("Producers") Life and Variable Life and Variable Annuity Insurance Companies Gordon I. Ito Appointments for Variable Life and Variable Annuities ("Variables") The purpose of this Commissioner's Memorandum is to announce that the Hawaii Insurance Division (the "Division") has updated its requirements for Producer appointments by creating a new category for Variables on the Notice of New Appointment Form (Form APPT). This form was amended and is available at: htto://hawaii.gov/dcca/ins/producers/fom1s/ins agent forms appt.pdf). Effective immediately, a Life Insurance appointment is no longer required for Producers selling Variables. In the past, Producers who sold Variables were required to be appointed to sell Life Insurance. This requirement has been changed to require Producers who sell Variables to be appointed to sell Variables, and they are no longer required to be appointed to sell Life Insurance. When the Appointer signs the Form APPT for a Variables appointment, the Appointer certifies that the Producer meets the annuity training requirement found in Hawaii Revised Statutes § 431: 1 OD-626. Producers may submit the completed Form APPT to the Division via email InsLic@dcca.hawaii.gov or fax at (808) 587-6714. In addition, for insurer to producer appointments only, appointments may be submitted directly to the National Insurance Producer Registry at htto://www.nipr.com. If you have any questions, please contact the Insurance Division - Licensing Branch at (808) 586-2788 or email us at InsLic@dcca.hawaii.gov.