reglab/housing_qa huggingface dataset:
NV Rev Stat § 688A.3633 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.3633 - Value of cash surrender and death benefits before maturity.

  1. For contracts which provide cash surrender benefits, such benefits available before maturity shall not be less than the present value as of the date of surrender of that portion of the maturity value of the paid-up annuity benefit which would be provided under the contract at maturity arising from considerations paid before the time of cash surrender, reduced by the amount appropriate to reflect any prior withdrawals from or partial surrenders of the contract, such present value being calculated on the basis of an interest rate of not more than 1 percent higher than the interest rate specified in the contract for accumulating the net considerations to determine such maturity value, decreased by the amount of any indebtedness to the company on the contract, including interest due and accrued, and increased by any existing additional amounts credited by the company to the contract. Any cash surrender benefit shall not be less than the minimum nonforfeiture amount at that time. The death benefit under such contracts shall be at least equal to the cash surrender benefit.  2. For annuity contracts issued on or after January 1, 2012, that provide cash surrender benefits:  (a) The cash surrender value on or past the maturity date must be equal to the amount used to determine the annuity benefits;  (b) A surrender charge may not be imposed on or past the maturity date of the annuity contract; and  (c) For annuity contracts with one or more renewable guaranteed periods, a new surrender charge schedule may be imposed for each new guaranteed period if:  (1) The surrender charge is zero at the end of each guaranteed period and remains zero for at least 30 days;  (2) The contract provides for continuation of the contract without surrender charges unless the contract holder specifically elects a new guaranteed period with a new surrender charge schedule; and  (3) The renewal period does not exceed 10 years and the maturity date complies with NRS 688A.3637.  3. An annuity contract that provides for flexible considerations may have separate surrender charge schedules associated with each consideration.  (Added to NRS by 1977, 689; A 2011, 3374)
NV Rev Stat § 688A.3635 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.3635 - Value of paid-up annuity benefits before maturity for contracts not providing cash surrender or death benefits.

For contracts which do not provide cash surrender benefits, the present value of any paid-up annuity benefit available as a nonforfeiture option at any time before maturity shall not be less than the present value of that portion of the maturity value of the paid-up annuity benefit provided under the contract arising from considerations paid before the time when the contract is surrendered in exchange for or changed to a deferred paid-up annuity, such present value being calculated for the period before the maturity date on the basis of the interest rate specified in the contract for accumulating the net considerations to determine such maturity value, and increased by any existing additional amounts credited by the company to the contract. For contracts which do not provide any death benefits before the commencement of any annuity payments, the present values shall be calculated on the basis of such interest rate and the mortality table specified in the contract for determining the maturity value of the paid-up annuity benefit. The present value of a paid-up annuity benefit shall not be less than the minimum nonforfeiture amount at that time.  (Added to NRS by 1977, 690)
NV Rev Stat § 688A.3637 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.3637 - Maturity date.

  1. For the purpose of determining the benefits calculated under NRS 688A.3633 and 688A.3635:  (a) In the case of annuity contracts issued before January 1, 2012, under which an election may be made to have annuity payments commence at optional maturity dates, the maturity date shall be deemed to be the latest date for which election is permitted by the contract, but shall not be deemed to be later than the anniversary of the contract next following the annuitant’s 70th birthday or the 10th anniversary of the contract, whichever is later.  (b) In the case of annuity contracts issued on or after January 1, 2012, the maturity date shall be deemed to be the latest date permitted by the contract, but shall not be deemed to be later than the anniversary of the contract next following the annuitant’s 70th birthday or the 10th anniversary of the contract, whichever is later.  2. For the purpose of determining the maturity date under this section for an annuity contract that provides for flexible considerations, the 10th anniversary of the contract is determined separately for each consideration.  (Added to NRS by 1977, 690; A 2011, 3375)
NV Rev Stat § 688A.364 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.364 - Statement that policy does not provide cash surrender benefits or death benefits equal to nonforfeiture amount.

Any contract which does not provide cash surrender benefits or does not provide death benefits at least equal to the minimum nonforfeiture amount before the commencement of any annuity payments shall include a statement in a prominent place in the contract that such benefits are not provided.  (Added to NRS by 1977, 690)
NV Rev Stat § 688A.366 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.366 - Calculation of benefits available at time other than contract anniversary.

Any paid-up annuity, cash surrender or death benefits available at any time, other than on the contract anniversary under any contract with fixed scheduled considerations, shall be calculated with allowance for the lapse of time and the payment of any scheduled considerations beyond the beginning of the contract year in which cessation of payment of considerations under the contract occurs.  (Added to NRS by 1977, 690)
NV Rev Stat § 688A.367 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.367 - Minimum nonforfeiture benefits for contracts providing both annuity and life insurance benefits.

For any contract which provides, within the same contract by rider or supplemental contract provision, both annuity benefits and life insurance benefits which are in excess of the greater of cash surrender benefits or a return of the gross considerations with interest, the minimum nonforfeiture benefits shall be equal to the sum of the minimum nonforfeiture benefits for the annuity portion and the minimum nonforfeiture benefits, if any, for the life insurance portion computed as if each portion were a separate contract. Any additional benefits payable:  1. In the event of total and permanent disability;  2. As reversionary annuity or deferred reversionary annuity benefits; or  3. As other policy benefits additional to life insurance, endowment and annuity benefits,  and considerations for all such additional benefits shall be disregarded in ascertaining the minimum nonforfeiture amounts, paid-up annuity, cash surrender and death benefits which may be required by NRS 688A.361 to 688A.369, inclusive. The inclusion of such additional benefits shall not be required in any paid-up benefits, unless the additional benefits separately would require minimum nonforfeiture amounts, paid-up annuity, cash surrender and death benefits.  (Added to NRS by 1977, 690)
NV Rev Stat § 688A.369 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.369 - Insurance to which NRS 688A.361 to 688A.369, inclusive, not applicable.

NRS 688A.361 to 688A.369, inclusive, do not apply to any reinsurance, group annuity purchased under a retirement plan or plan of deferred compensation established or maintained by an employer (including a partnership or sole proprietorship), by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under section 408 of the Internal Revenue Code, as amended, premium deposit fund, variable annuity, investment annuity, immediate annuity, deferred annuity contract after annuity payments have commenced, reversionary annuity or to any contract which will be delivered outside this state through an agent or other representative of the company issuing the contract.  (Added to NRS by 1977, 687)
NV Rev Stat § 688A.370 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.370 - Reinstatement; benefits for disability or accidental death.

  1. A reinstated policy of life insurance or an annuity contract may be contested on account of fraud or misrepresentation of facts material to the reinstatement only for the same period following reinstatement and with the same conditions and exceptions as the policy provides with respect to contestability after original issuance.  2. When any life insurance policy or annuity contract is reinstated such reinstated policy or contract may exclude or restrict liability to the same extent that such liability could have been or was excluded or restricted when the policy or contract was originally issued, and such exclusion or restriction shall be effective from the date of reinstatement.  3. After 3 years from the date of issue of a life insurance policy or of a supplemental contract thereto providing total and permanent disability benefits or additional benefits in the event of death by accident or accidental means, no misstatements, except fraudulent misstatements, made by the applicant in the application for the policy shall be used to deny a claim for such total and permanent disability commencing, or for such additional benefits in the event of death by accident or accidental means occurring, after the expiration of such 3-year period. This subsection shall not be so construed as to preclude the assertion at any time of defenses based upon provisions with respect to such benefits which exclude or restrict coverage.  (Added to NRS by 1971, 1741)
NV Rev Stat § 688A.380 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.380 - Participating and nonparticipating policies: Accounting; allocations; dividends.

  1. A life insurer issuing both participating and nonparticipating policies shall maintain such accounting records as are necessary for it to determine dividends to participating policyholders on an equitable basis.  2. For the purposes of such accounting records the insurer shall make a reasonable allocation between participating and nonparticipating policies of the expenses of such general operations or functions as are jointly shared. Any allocation of expense between the respective categories shall be made upon a reasonable basis, to the end that each category shall bear a just portion of joint expense involved in the administration of the business of such category.  3. No policy after January 1, 1972, shall provide for, and no life insurer or representative shall, after January 1, 1972, knowingly offer or promise payment, credit or distribution of participating "dividends," "earnings," "profits" or "savings," by whatever name called, to participating policies out of such profits, earnings or savings on nonparticipating policies. This subsection does not restrict the generality of NRS 686A.110 (rebates).  (Added to NRS by 1971, 1741)
NV Rev Stat § 688A.410 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.410 - Payment of life insurance proceeds; interest.

An insurer shall pay the proceeds of any benefits under a policy of life insurance not more than 30 days after the death of the insured. If the proceeds are not paid within this period, the insurer shall pay interest on the proceeds, at a rate which is not less than the current rate of interest on death proceeds on deposit with the insurer, from the date of death of the insured to the date when the proceeds are paid.  (Added to NRS by 1977, 626)
NV Rev Stat § 688A.430 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.430 - Delivery of group annuity to group formed to purchase annuity prohibited.

No group annuity may be delivered or issued for delivery in this state to a group which was principally formed for the purpose of purchasing one or more group annuities.  (Added to NRS by 1985, 1059)
NV Rev Stat § 688A.440 (2021)
2021 Nevada Revised Statutes|Chapter 688A - Life Insurance and Annuity Contracts|NRS 688A.440 - Incorporation of long-term care insurance into annuity or policy of life insurance.

  1. An annuity or policy of life insurance may incorporate long-term care insurance if:  (a) The long-term care insurance incorporated into the annuity or policy of life insurance complies with regulations adopted by the Commissioner.  (b) The Commissioner approves the incorporation of long-term care insurance into the annuity or policy of life insurance.  2. The Commissioner shall adopt regulations that define "long-term care insurance" for the purposes of this section.  (Added to NRS by 2011, 3372)
NV Rev Stat § 688B.010 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.010 - Short title; scope.

  1. This chapter may be known and cited as the Group Life Insurance Law.  2. This chapter applies only to group life insurance and wholesale life insurance.  3. This chapter does not apply to any group life insurance contract entered into or issued prior to January 1, 1972, or to any extensions, renewals or modifications thereof or amendments thereto whenever made.  (Added to NRS by 1971, 1746)
NV Rev Stat § 688B.020 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.020 - "Wholesale life insurance" defined.

  1. As used in this Code, "wholesale life insurance" is that plan of life insurance, other than salary savings life insurance or pension trust insurance and annuities, issued to:  (a) Three or more employees of any corporation, copartnership or individual employer or any governmental corporation, agency or department thereof; or  (b) Ten or more members, employees or employees of members of any trade or professional association, or of a labor union, or of any association of members in the same or related occupations, profession or industry having had an active existence for at least 2 years, where such association or union has a constitution or bylaws and is formed in good faith for purposes other than that of obtaining insurance,  where such persons, with or without their dependents are issued the same form of an individual policy on the plan, varying only as to amounts of coverage applied for by such persons and under an arrangement whereby the premiums on such policies may be paid to the insurer periodically by the employer, with or without payroll deductions, or by the insured or association or union for its members, or by some designated person acting on behalf of such employer, association or union. The term "employees" as used in this section shall be deemed to include the officers, managers, employees and retired employees of the employer and the individual proprietor or partners if the employer is an individual or partnership.  2. Each policy issued under this section shall provide that the coverage shall terminate when the insured individual no longer qualifies for such policy under this section; but the policy may provide that it may be continued in force or be replaced with another policy if the premium, benefits and other relevant factors of the continued or replacement policy are the same as those of a similar individual policy not issued under or pursuant to this section.  (Added to NRS by 1971, 1746)
NV Rev Stat § 688B.030 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.030 - Group life insurance prohibited unless approved by Commissioner; exempt policies; exclusion or limitation of coverage; applicability.

  1. Except as otherwise provided in this section, no policy of group life insurance may be delivered or issued for delivery in this State to a group which was formed for the purpose of purchasing one or more policies of group life insurance.  2. A policy of group life insurance may be delivered to a group described in subsection 1 if the Commissioner approves the issuance. The Commissioner must not grant approval unless the Commissioner finds that:  (a) The benefits of the policy are reasonable in relation to the premiums charged; and  (b) The group to which the policy is issued is organized and operated in a fiscally sound manner.  3. The provisions of subsection 1 do not apply to a policy of group life insurance which is delivered or issued for delivery in this State to a group whose members:  (a) Are related by blood, marriage or legal adoption;  (b) Have a common interest through ownership of a business enterprise or a substantial legal interest or equity therein, and who are actively engaged in the management thereof; or  (c) Otherwise have an insurable interest in each other’s lives.  4. An insurer may exclude or limit the coverage in a policy issued pursuant to this section of any person as to whom evidence of insurability is not satisfactory to the insurer.  5. The provisions of this section apply to the offering in this State of a policy issued in another state.  (Added to NRS by 1971, 1747; A 1987, 118)
NV Rev Stat § 688B.040 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.040 - Provisions required in group contracts.

No policy of group life insurance shall be delivered in this State unless it contains in substance the provisions set forth in NRS 688B.040 to 688B.150, inclusive, or provisions which in the opinion of the Commissioner are more favorable to the persons insured, or at least as favorable to the persons insured and more favorable to the policyholder; except:  1. NRS 688B.100 to 688B.140, inclusive, do not apply to policies issued to a creditor to insure debtors of such creditor;  2. The standard provisions required for individual life insurance policies do not apply to group life insurance policies; and  3. If the group life insurance policy is on a plan of insurance other than the term plan, it shall contain a nonforfeiture provision or provisions which in the opinion of the Commissioner is or are equitable to the insured persons and to the policyholder; but nothing in this subsection shall be construed to require that group life insurance policies contain the same nonforfeiture provisions as are required for individual life insurance policies.  (Added to NRS by 1971, 1747)
NV Rev Stat § 688B.050 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.050 - Grace period.

The group life insurance policy shall contain a provision that the policyholder is entitled to a grace period of 31 days for the payment of any premium due except the first, during which grace period the death benefit coverage shall continue in force, unless the policyholder has given the insurer written notice of discontinuance in advance of the date of discontinuance and in accordance with the terms of the policy. The policy may provide that the policyholder shall be liable to the insurer for the payment of a pro rata premium for the time the policy was in force during such grace period.  (Added to NRS by 1971, 1747)
NV Rev Stat § 688B.060 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.060 - Incontestability.

The group life insurance policy shall contain a provision that the validity of the policy shall not be contested, except for nonpayment of premium, after it has been in force for 2 years from its date of issue; and that no statement made by any person insured under the policy relating to the insurability of the person shall be used in contesting the validity of the insurance with respect to which such statement was made after such insurance has been in force prior to the contest for a period of 2 years during such person’s lifetime nor unless it is contained in a written instrument signed by the person.  (Added to NRS by 1971, 1748)
NV Rev Stat § 688B.070 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.070 - Provisions required in policy of group life insurance.

The group life insurance policy shall contain a provision:  1. That a copy of the application, if any, of the policyholder shall be attached to the policy when issued and become a part of the contract;  2. That all statements made by the policyholder or by the persons insured shall be deemed representations and not warranties; and  3. That no statement made by any person insured shall be used in any contest unless a copy of the instrument containing the statement is or has been furnished to such person or to the beneficiary of the person.  (Added to NRS by 1971, 1748)
NV Rev Stat § 688B.080 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.080 - Insurability.

The group life insurance policy shall contain a provision setting forth the conditions, if any, under which the insurer reserves the right to require a person eligible for insurance to furnish evidence of individual insurability satisfactory to the insurer as a condition to part or all of the coverage of the person.  (Added to NRS by 1971, 1748)
NV Rev Stat § 688B.090 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.090 - Misstatement of age.

The group life insurance policy shall contain a provision specifying an equitable adjustment of premiums or of benefits or both to be made if the age of a person insured has been misstated, such provision to contain a clear statement of the method of adjustment to be used.  (Added to NRS by 1971, 1748)
NV Rev Stat § 688B.100 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.100 - Payment of benefits.

The group life insurance policy shall contain a provision that any sum becoming due by reason of the death of the person insured shall be payable to the beneficiary designated by the person insured, subject to the provision of the policy if there is no designated beneficiary, as to all or any part of such sum, living at the death of the person insured, and subject to any right reserved by the insurer in the policy and set forth in the certificate to pay at its option a part of such sum not exceeding $500 to any person appearing to the insurer to be equitably entitled thereto by reason of having incurred funeral or other expenses incident to the last illness or death of the person insured.  (Added to NRS by 1971, 1748)
NV Rev Stat § 688B.110 (2021)
2021 Nevada Revised Statutes|Chapter 688B - Group Life Insurance|NRS 688B.110 - Certificate: Filing; approval.

  1. The group life policy shall contain a provision that the insurer will issue to the policyholder for delivery to each person insured a certificate setting forth a statement in summary form of the essential features of the insurance coverage of such employee or member, to whom benefits thereunder are payable, and the rights and conditions set forth in NRS 688B.120, 688B.130 and 688B.140. If dependents are included in the coverage, only one statement need be issued for each family unit.  2. The Commissioner may, in the discretion of the Commissioner, require the form of each such certificate proposed to be delivered in this state under a group policy not made under the laws of this state, to be filed with the Commissioner by the insurer for informational purposes only.  (Added to NRS by 1971, 1749)