HRS §431:10-228
Assigning Your Insurance Policy
This section says whether you can assign (transfer) your life insurance policy depends on what the policy itself allows. If the policy lets you change the beneficiary, you can assign it by pledging or transferring ownership, and the insurer must follow the assignment until it gets written notice of a change or conflict.
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The statute, as written — Assignment of policies
(a) A policy may be assignable or not assignable, as provided by its terms. (b) Subject to the terms of the policy, any policy providing the beneficiary may be changed upon the sole request of the insured, may be assigned by either pledge or transfer of title, executed by the insured alone, and delivered to the insurer, regardless of whether the insurer is the pledgee or assignee. Any such assignment shall entitle the insurer to deal with the assignee as the owner or pledgee of the policy in accordance with the terms of the assignment until the insurer has received at its home office written notice of termination of the assignment or pledge, or written notice by or on behalf of some other person claiming some interest in the policy in conflict with the assignment.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.