2023 Nevada Revised Statutes › Chapter 688D - Payment of Benefits Upon Death of Insured › NRS 688D.090 - Insurer required to compare policies of life insurance, annuities, benefit contracts and retained asset accounts against Death Master File at least semiannually; duties of insurer upon match; records; presumption of abandonment; disclosure of personal information; required confirmation of possible death if insurer maintains certain information under group life insurance policy; exception.

1. Except as otherwise provided by order of the Commissioner pursuant to NRS 688D.120, each insurer shall, at least semiannually, for the purpose of paying death benefits to a beneficiary, perform a comparison against the Death Master File of the policies of life insurance, annuities, benefit contracts and retained asset accounts of its insureds which are in force. For the purposes of this subsection, a policy of life insurance, annuity, benefit contract or retained asset account is in force if, at the time of the death of the insured, the policy, annuity, contract or account has not lapsed, has not been cancelled or has not been terminated, and benefits are payable to a beneficiary or beneficiaries under the policy, annuity, contract or account.
2. Each insurer shall implement reasonable procedures to account for common variations in data that may otherwise preclude an exact match with the Death Master File.
3. Within 90 days after identifying a potential match resulting from a comparison of the Death Master File performed pursuant to subsection 1, the insurer shall:
(a) Make a reasonable effort to confirm the death of the insured against any other available records and information;
(b) Determine whether the deceased insured had purchased any other products of the insurer; and
(c) Determine whether death benefits are due in accordance with the applicable policy of life insurance, annuity or benefit contract and, if death benefits are due:
(1) Make a reasonable effort to locate each beneficiary; and
(2) Provide to each beneficiary who is located the appropriate claim forms and instructions for making a claim under the policy of life insurance, annuity or benefit contract.
4. If the insurer determines that death benefits are due in accordance with the applicable policy, annuity or benefit contract, the insurer shall keep a complete record of all efforts made to locate each beneficiary.
5. If an insurer is unable to locate a beneficiary pursuant to this section, but is otherwise able to reasonably determine the death of an insured and determine that a death benefit is due in accordance with the applicable policy of life insurance, annuity or benefit contract, the death benefit, other than a death benefit payable pursuant to subsection 3 of NRS 695A.210, shall be presumed abandoned in accordance with the provisions of NRS 120A.500.
6. To the extent permitted by law, the insurer may disclose minimum necessary personal information about the insured or beneficiary to a person who the insurer reasonably believes may be able to assist the insurer in locating the beneficiary or a person otherwise entitled to payment of the claims proceeds.
7. With respect to a policy of group life insurance delivered or issued for delivery pursuant to chapter 688B of NRS, an insurer is required to confirm the possible death of an insured pursuant to this chapter if the insurer maintains at least the following information for the insured under such a policy:
(a) Social security number or name and date of birth;
(b) Beneficiary designation information;
(c) Coverage eligibility;
(d) Benefit amount; and
(e) Premium payment status.
(Added to NRS by 2013, 2702)