Since 1994
By the Termco teamLicensed life insurance agents since 1994Updated
Hawaii at a glance
- Insurance regulator: Hawaii Insurance Division
- Free look on new individual life policies: 10 days
- Free look when replacing a policy: 30 days
- State estate tax: yes (exemption $5,490,000) · Inheritance tax: no
Who regulates life insurance in Hawaii
Life insurance is regulated state by state. In Hawaii, that's the Hawaii Insurance Division. Before you buy, you can use the regulator's website to confirm that both the insurer and the agent are licensed in Hawaii, read consumer guides, and file a complaint if something goes wrong. You can also look up an agent's licenses in every state through the NAIC's licensee lookup.
Your free-look period in Hawaii
In Hawaii, you have at least 10 days after an individual life insurance policy is delivered to review it and return it for a full refund of premium (HRS § 431:10-214, as summarized by the NAIC).
If your new policy replaces an existing life insurance policy or annuity, Hawaii gives you a longer review window: 30 days (HRS § 431:10D-505, as summarized by the NAIC).
Either way, don't cancel an existing policy until the new one is approved, delivered and in force, and the free look has passed.
Taxes
Hawaii has its own estate tax. The Tax Foundation lists the Hawaii exemption at $5,490,000 as of October 1, 2026. Life insurance you own on your own life generally counts toward your estate, so a large policy can push an estate over that threshold. A common planning tool is to have the policy owned by an irrevocable life insurance trust (ILIT); an estate-planning attorney can tell you whether it makes sense for you.
If an insurer runs into trouble
Hawaii, like every state, has a life and health insurance guaranty association that protects policyholders, up to limits set by Hawaii law, if a licensed insurer fails. Limits differ from state to state; you can find Hawaii's association and its coverage limits through NOLHGA. Insurer failures are rare, and Termco only shows insurers rated A- or better by A.M. Best, but it's good to know the safety net exists.
Does living in Hawaii change the price?
Less than you might think. Age, health, nicotine, coverage amount, term length and the insurer you choose drive the price; your state mainly affects which products and riders are available. See how term life is priced.
Get term life estimates in Hawaii
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Frequently asked questions
Who regulates life insurance in Hawaii?
The Hawaii Insurance Division. It licenses insurers and agents and handles consumer complaints. You can verify any agent's license there before you buy.
How long is the free-look period for life insurance in Hawaii?
In Hawaii, you have at least 10 days after an individual life insurance policy is delivered to review it and return it for a full refund of premium (HRS § 431:10-214, as summarized by the NAIC). If your new policy replaces an existing life insurance policy or annuity, Hawaii gives you a longer review window: 30 days (HRS § 431:10D-505, as summarized by the NAIC).
Does Hawaii have an estate or inheritance tax?
Hawaii has an estate tax, with an exemption of $5,490,000 as of October 1, 2026, according to the Tax Foundation. It has no inheritance tax.
Can I buy term life insurance in Hawaii through Termco?
Yes. Termco offers coverage nationwide. Any policy for a resident of Hawaii is sold by a Termco agent licensed in Hawaii, and only insurers rated A- or better by A.M. Best appear in our quote tool.
Nearby states
California · Alaska · Washington · All states
Sources
- Hawaii Insurance Division
- NAIC – Life Insurance Disclosure Provisions (state law chart, PDF)
- Tax Foundation – Estate and Inheritance Taxes by State, 2026
- NOLHGA – Contact your state's guaranty association
This page is general information, not legal or tax advice. State laws change; the free-look figures above come from the NAIC's summary of state law (state information last reviewed December 2023), and your policy is the final word on its own terms. Checked October 17, 2026.