reglab/housing_qa huggingface dataset:
NV Rev Stat § 688A.100 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.100 - Dividends.

  1. There shall be a provision in participating policies that, beginning not later than the end of the third policy year, the insurer shall annually ascertain and apportion the divisible surplus, if any, that will accrue on the policy anniversary or other dividend date specified in the policy, provided the policy is in force and all premiums to that date are paid. Except as hereinafter provided, any dividend becoming payable shall at the option of the party entitled to elect such option be either:  (a) Payable in cash; or  (b) Applied to any one of such other dividend options as may be provided by the policy. If any such other dividend options are provided, the policy shall further state which option shall be automatically effective if such party has not elected some other option. If the policy specifies a period within which such other dividend option may be elected, such period shall be not less than 30 days following the date on which such dividend is due and payable. The annually apportioned dividend shall be deemed to be payable in cash within the meaning of paragraph (a), even though the policy provides that payment of such dividend is to be deferred for a specified period, provided such period does not exceed 6 years from the date of apportionment and that interest will be added to such dividend at a specified rate.  2. Renewable term policies of 10 years or less may provide that the surplus accrued to such policies shall be determined and apportioned each year after the second policy year, and accumulated during each renewal period, and that at the end of the renewal period, on renewal of the policy by the insured, the insurer shall apply the accumulated surplus as an annuity for the next succeeding renewal term in the reduction of premiums.  3. In participating industrial life insurance policies, in lieu of the provision required in subsection 1, there shall be a provision that, beginning not later than the end of the fifth policy year, the policy shall participate annually in the divisible surplus, if any, in the manner set forth in the policy.  4. This section does not apply to insurance issued under nonforfeiture provisions of lapsed or surrendered policies.  (Added to NRS by 1971, 1728)
NV Rev Stat § 688A.110 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.110 - Loan secured by policy.

  1. There shall be a provision that after 3 full years’ premiums have been paid and after the policy has a cash surrender value and while no premium is in default beyond the grace period for payment, the insurer will advance, on proper assignment or pledge of the policy and on the sole security thereof, at a fixed or variable rate of interest as may be approved by the Commissioner, an amount equal to or, at the option of the party entitled thereto, less than the loan value of the policy. The loan value of the policy shall be at least equal to the cash surrender value at the end of the then current policy year, and the insurer may deduct, either from such loan value or from the proceeds of the loan, any existing indebtedness not already deducted in determining such cash surrender value, including any interest then accrued but not due, any unpaid balance of the premium for the current policy year, and interest on the loan to the end of the current policy year. The policy may also provide that if interest on any indebtedness is not paid when due it shall then be added to the existing indebtedness and shall bear interest at the same rate, and that if and when the total indebtedness on the policy, including interest due or accrued, equals or exceeds the amount of the loan value thereof, then the policy shall terminate and become void, but not until at least 30 days’ notice has been mailed by the insurer to the last address of record with the insurer, of the insured or other policy owner and of any assignee of record at the insurer’s home office. The policy shall reserve to the insurer the right to defer the granting of a loan, other than for the payment of any premium to the insurer, for 6 months after application therefor. Such provision shall also contain a table showing in figures the loan values each year during the first 20 years of the policy, or during the term of the policy, whichever is shorter. The policy, at the insurer’s option, may provide for an automatic premium loan.  2. This section does not apply to term policies, or to term insurance benefits provided by rider or supplemental policy provisions or to industrial life insurance policies.  (Added to NRS by 1971, 1729; A 1971, 1950)
NV Rev Stat § 688A.120 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.120 - Table of installments.

In case the policy provides that the proceeds may be payable in installments which are determinable at issue of the policy, there shall be a table showing the amounts of the guaranteed installments.  (Added to NRS by 1971, 1729)
NV Rev Stat § 688A.130 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.130 - Reinstatement.

There must be a provision that unless:  1. The policy has been surrendered for its cash surrender value;  2. Its cash surrender value has been exhausted; or  3. The paid-up term insurance, if any, has expired,  the policy will be reinstated at any time within 3 years after the date of premium default upon written application therefor, the production of evidence of insurability satisfactory to the insurer, the payment of all premiums in arrears and any interest due thereon and the payment or reinstatement of any other indebtedness to the insurer upon the policy including any interest due thereon.  (Added to NRS by 1971, 1730; A 1985, 1049)
NV Rev Stat § 688A.140 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.140 - Payment of claims.

There shall be a provision that when the benefits under the policy become payable by reason of the death of the insured, settlement shall be made upon receipt of due proof of death and, at the insurer’s option, surrender of the policy and proof of the interest of the claimant or surrender of proof. If an insurer specifies a particular period prior to the expiration of which settlement shall be made, such period shall not exceed 2 months from the receipt of such proofs.  (Added to NRS by 1971, 1730)
NV Rev Stat § 688A.150 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.150 - Beneficiary: Industrial policies.

  1. An industrial life insurance policy shall have the name of the beneficiary designated thereon or in the application or other form if attached to the policy, with a reservation of the right to designate or change the beneficiary after the issuance of the policy, unless such beneficiary is irrevocably designated.  2. The policy may also provide that:  (a) No designation or change of beneficiary shall be binding on the insurer until endorsed on the policy by the insurer, and that the insurer may refuse to endorse the name of any proposed beneficiary who does not appear to the insurer to have an insurable interest in the life of the insured.  (b) If the beneficiary designated in the policy does not make a claim under the policy or does not surrender the policy with due proof of death within the period stated in the policy, which shall not be less than 30 days after the death of the insured, or if the beneficiary is the estate of the insured, or is a minor, or dies before the insured, or is not legally competent to give a valid release, then the insurer may make any payment thereunder to the executor or administrator of the insured, or to any relative of the insured by blood or legal adoption or connection by marriage, or to any person appearing to the insurer to be equitably entitled thereto by reason of having been named beneficiary, or by reason of having incurred expense for the maintenance, medical attention or burial of the insured.  3. The policy may also include a similar provision applicable to any other payment due under the policy.  (Added to NRS by 1971, 1730)
NV Rev Stat § 688A.160 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.160 - Title.

There shall be a title on the policy, briefly describing the same.  (Added to NRS by 1971, 1731)
NV Rev Stat § 688A.165 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.165 - Surrender and request for cancellation of contract or policy.

  1. No annuity contract, pure endowment contract or policy of life insurance, other than a replacement contract or policy, may be delivered or issued for delivery in this state unless it contains a provision, or a notice attached to the contract or policy, which, in substance, states that during a period of 10 days from the date the contract or policy is delivered to the contract or policy owner, it may be surrendered to the insurer together with a written request for cancellation of the contract or policy and in such event, the insurer will refund any premium paid therefor, including any contract or policy fees or other charges.  2. No annuity contract, pure endowment contract or policy of life insurance that is a replacement contract or policy may be delivered or issued for delivery in this State unless it contains a provision, or a notice attached to the contract or policy, which, in substance, states that during a period of 30 days after the date on which the contract or policy is delivered to the contract or policy owner, it may be surrendered to the insurer together with a written request for cancellation of the contract or policy and in such event, the insurer will refund any premium paid therefor, including any contract or policy fees or other charges.  3. This section does not apply to industrial life insurance policies.  (Added to NRS by 1977, 455; A 2011, 3373)
NV Rev Stat § 688A.170 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.170 - Excluded or restricted coverage.

A clause in any policy of life insurance providing that such policy shall be incontestable after a specified period shall preclude only a contest of the validity of the policy, and shall not preclude the assertion at any time of defenses based upon provisions in the policy which exclude or restrict coverage, whether or not such restrictions or exclusions are excepted in such clause.  (Added to NRS by 1971, 1731)
NV Rev Stat § 688A.180 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.180 - Standard provisions: Annuity and pure endowment contracts.

  1. No annuity or pure endowment contract, other than reversionary annuities (also called survivorship annuities) or group annuities and except as stated in this section, shall be delivered or issued for delivery in this state unless it contains in substance each of the provisions specified in NRS 688A.165 and 688A.190 to 688A.240, inclusive. Any of such provisions not applicable to single-premium annuities or single-premium pure endowment contracts shall not, to that extent, be incorporated therein.  2. This section does not apply to contracts for deferred annuities included in, or upon the lives of beneficiaries under, life insurance policies.  (Added to NRS by 1971, 1731; A 2011, 3373)
NV Rev Stat § 688A.190 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.190 - Annuities: Grace period.

In an annuity or pure endowment contract, other than a reversionary, survivorship or group annuity, there shall be a provision that there shall be a period of grace of 1 month, but not less than 30 days, within which any stipulated payment to the insurer falling due after the first may be made, subject at the option of the insurer to an interest charge thereon at a rate to be specified in the contract but not exceeding 6 percent per annum for the number of days of grace elapsing before such payment, during which period of grace the contract shall continue in full force; but in case a claim arises under the contract on account of death prior to expiration of the period of grace before the overdue payment to the insurer or the deferred payments of the current contract year, if any, are made, the amount of such payments, with interest on any overdue payments, may be deducted from any amount payable under the contract in settlement.  (Added to NRS by 1971, 1731)
NV Rev Stat § 688A.200 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.200 - Annuities: Incontestability.

If any statements, other than those relating to age, sex and identity are required as a condition to issuing an annuity or pure endowment contract, other than a reversionary, survivorship or group annuity, and subject to NRS 688A.220, there shall be a provision that the contract shall be incontestable after it has been in force during the lifetime of the person or of each of the persons as to whom such statements are required, for a period of 2 years from its date of issue, except for nonpayment of stipulated payments to the insurer; and at the option of the insurer such contract may also except any provisions relative to benefits in the event of disability and any provisions which grant insurance specifically against death by accident or accidental means.  (Added to NRS by 1971, 1731)
NV Rev Stat § 688A.210 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.210 - Annuities: Entire contract.

In an annuity or pure endowment contract, other than a reversionary, survivorship or group annuity, there shall be a provision that the contract shall constitute the entire contract between the parties or, if a copy of the application is endorsed upon or attached to the contract when issued, a provision that the contract and the application therefor shall constitute the entire contract between the parties.  (Added to NRS by 1971, 1732)
NV Rev Stat § 688A.220 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.220 - Annuities: Misstatement of age or sex.

In an annuity or pure endowment contract, other than a reversionary, survivorship or group annuity, there shall be a provision that if the age or sex of the person or persons upon whose life or lives the contract is made, or of any of them, has been misstated, the amount payable or benefits accruing under the contract shall be such as the stipulated payment or payments to the insurer would have purchased according to the correct age or sex and that if the insurer makes or has made any overpayment or overpayments on account of any such misstatement, the amount thereof, with interest at the rate to be specified in the contract but not exceeding 6 percent per annum, may be charged against the current or next succeeding payment or payments to be made by the insurer under the contract.  (Added to NRS by 1971, 1732)
NV Rev Stat § 688A.230 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.230 - Annuities: Dividends.

If an annuity or pure endowment contract, other than a reversionary, survivorship or group annuity, is participating, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the contract.  (Added to NRS by 1971, 1732)
NV Rev Stat § 688A.240 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.240 - Annuities: Reinstatement.

In an annuity or pure endowment contract, other than a reversionary or group annuity, there shall be a provision that the contract may be reinstated at any time within 1 year from the default in making stipulated payments to the insurer, unless the cash surrender value has been paid, but all overdue stipulated payments and any indebtedness to the insurer on the contract shall be paid or reinstated with interest thereon at a rate to be specified in the contract but not exceeding 6 percent per annum payable annually, and in cases where applicable the insurer may also include a requirement of evidence of insurability satisfactory to the insurer.  (Added to NRS by 1971, 1732)
NV Rev Stat § 688A.250 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.250 - Standard provisions: Reversionary annuities.

  1. Except as stated in this section, no contract for a reversionary annuity shall be delivered or issued for delivery in this state unless it contains in substance each of the following provisions:  (a) Any such reversionary annuity contract shall contain the provisions specified in NRS 688A.190 to 688A.230, inclusive, except that under NRS 688A.190 the insurer may at its option provide for an equitable reduction of the amount of the annuity payments in settlement of an overdue payment in lieu of providing for deduction of such payments from an amount payable upon settlement under the contract.  (b) In such reversionary annuity contracts there shall be a provision that the contract may be reinstated at any time within 3 years from the date of default in making stipulated payments to the insurer, upon production of evidence of insurability satisfactory to the insurer, and upon condition that all overdue payments and any indebtedness to the insurer on account of the contract are paid, or, within the limits permitted by the then cash values of the contract, reinstated, with interest as to both payments and indebtedness at a rate to be specified in the contract but not exceeding 6 percent per annum compounded annually.  2. This section does not apply to group annuities or to annuities included in life insurance policies, and any of such provisions not applicable to single premium annuities shall not to that extent be incorporated therein.  (Added to NRS by 1971, 1733)
NV Rev Stat § 688A.260 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.260 - Provisions limiting liability.

  1. No policy of life insurance shall be delivered or issued for delivery in this state if it contains any of the following provisions:  (a) A provision limiting the time within which an action at law or in equity may be commenced on such a policy to less than 3 years after the cause of action has accrued.  (b) A provision which excludes or restricts liability for death caused in a certain specified manner or occurring while the insured has a specified status, except that a policy may contain provisions excluding or restricting coverage as specified therein in the event of death under any one or more of the following circumstances:  (1) Death as a result, directly or indirectly, of war, declared or undeclared, or of action by military forces, or of any act or hazard of such war or action, or of service in the military, naval or air forces or in civilian forces auxiliary thereto, or from any cause while a member of such military, naval or air forces of any country at war, declared or undeclared, or of any country engaged in such military action;  (2) Death as a result of aviation or any air travel or flight;  (3) Death as a result of a specified hazardous occupation or occupations or avocation;  (4) Death while the insured is a resident outside the continental United States of America and Canada; or  (5) Death within 2 years from the date of issue of the policy as a result of suicide, while sane or insane.  2. A policy which contains any exclusion or restriction pursuant to paragraph (b) shall also provide that in the event of death under the circumstances to which any such exclusion or restriction is applicable, the insurer will pay an amount not less than a reserve determined according to the Commissioners Reserve Valuation Method upon the basis of the mortality table and interest rate specified in the policy for the calculation of nonforfeiture benefits (or if the policy provides for no such benefits, computed according to a mortality table and interest rate determined by the insurer and specified in the policy) with adjustment for indebtedness or dividend credit.  3. This section does not apply to group life insurance, health insurance, reinsurance or annuities, or to any provision in a life insurance policy or contract supplemental thereto relating to disability benefits or to additional benefits in the event of death by accident or accidental means.  4. Nothing contained in this section prohibits any provision which in the opinion of the Commissioner is more favorable to the policyholder than a provision permitted by this section.  (Added to NRS by 1971, 1733)
NV Rev Stat § 688A.270 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.270 - Prohibited provisions.

  1. No life insurance policy, other than industrial life insurance, shall be delivered or issued for delivery in this state, if it contains any of the following provisions:  (a) A provision by which the policy purports to be issued or to take effect more than 1 year before the original application for the insurance was made.  (b) A provision for any mode of settlement at maturity of the policy of less value than the amount insured under the policy, plus dividend additions, if any, less any indebtedness to the insurer on or secured by the policy and less any premium that may by the terms of the policy be deducted.  (c) A provision to the effect that the agent soliciting the insurance is the agent of the person insured under the policy, or making the acts or representations of such agent binding upon the person so insured under the policy.  2. No policy of industrial life insurance shall contain any of the following provisions:  (a) A provision by which the insurer may deny liability under the policy for the reason that the insured has previously obtained other insurance from the same insurer.  (b) A provision giving the insurer the right to declare the policy void because the insured has had any disease or ailment, whether specified or not, or because the insured has received institutional, hospital, medical or surgical treatment or attention, except a provision which gives the insurer the right to declare the policy void if the insured has, within 2 years prior to the issuance of the policy, received institutional, hospital, medical or surgical treatment or attention and if the insured or claimant under the policy fails to show that the condition occasioning such treatment or attention was not of a serious nature or was not material to the risk.  (c) A provision giving the insurer the right to declare the policy void because the insured has been rejected for insurance, unless such right is conditioned upon a showing by the insurer that knowledge of such rejection would have led to a refusal by the insurer to make such contract.  (Added to NRS by 1971, 1734)
NV Rev Stat § 688A.280 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.280 - Provisions required by law of other jurisdiction.

The policies of a foreign life insurer when issued in this state may contain any provision which the law of the state, territory, district or country under which the insurer is organized prescribes shall be in such policies, and the policies of a domestic life insurer may, when issued or delivered in any other state, territory, district or country, contain any provisions required by the law thereof, anything in this chapter to the contrary notwithstanding.  (Added to NRS by 1971, 1735)