reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.730 - Health carrier required to notify participating provider of health care of administrative policies and programs of carrier.

A health carrier which offers or issues a network plan shall notify each participating provider of health care in the network of the responsibilities of the participating provider of health care with respect to any applicable administrative policies and programs of the health carrier including, without limitation, any applicable administrative policies and programs concerning:
1. Terms of payment;
2. Utilization review;
3. Quality assessment and improvement;
4. Credentialing;
5. Procedures for grievances and appeals;
6. Requirements for data reporting;
7. Requirements for timely notice to the health carrier of changes in the practices of the participating provider of health care, such as discontinuance of accepting new patients;
8. Requirements for confidentiality; and
9. Any applicable federal or state programs.
(Added to NRS by 2017, 2351)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.740 - Inducement to provide less than medically necessary health care services prohibited.

A health carrier which offers or issues a network plan shall not offer an inducement to a participating provider of health care in the network that would encourage or otherwise incent the participating provider of health care to deliver health care services to a covered person which are less than those which are medically necessary.
(Added to NRS by 2017, 2352)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.750 - Health carrier not to prohibit certain actions by participating provider of health care.

A health carrier which offers or issues a network plan shall not prohibit a participating provider of health care in the network from:
1. Discussing any specific treatment option or all treatment options with a covered person irrespective of the position of the health carrier on the treatment options;
2. Advocating on behalf of a covered person within any utilization review process or any process for grievances or appeals established by the health carrier or a person contracting with the health carrier; or
3. Advocating on behalf of a covered person in accordance with any rights or remedies available under applicable state or federal law.
(Added to NRS by 2017, 2352)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.760 - Health records; confidentiality.

Each contract entered into for the purposes of a network plan between a participating provider of health care and the health carrier must require the participating provider of health care to make health records available to appropriate state and federal authorities involved in assessing the quality of care or investigating the grievances or complaints of covered persons, and to comply with the applicable state and federal laws related to the confidentiality of medical and health records and the covered person’s right to see, obtain copies of or amend their medical and health records.
(Added to NRS by 2017, 2352)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.770 - Assignment or delegation of rights and responsibilities without prior written consent prohibited.

Each contract entered into for the purposes of a network plan between a participating provider of health care and the health carrier must prohibit the health carrier and the participating provider of health care from assigning or delegating the rights and responsibilities of either party under the contract without the prior written consent of the other party.
(Added to NRS by 2017, 2352)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.780 - Health carrier required to ensure that participating providers of health care furnish covered services to all covered persons; exception.

1. A health carrier which offers or issues a network plan shall ensure that participating providers of health care in the network are responsible for furnishing covered services to all covered persons without regard to the participation of the covered person in the network plan as a private purchaser of the network plan or as a participant in a publicly financed program of health care services.
2. This section does not apply to circumstances when the participating provider of health care should not render services due to limitations arising from a lack of training, experience or skill or licensing restrictions.
(Added to NRS by 2017, 2352)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.790 - Health carrier required to notify participating providers of health care of obligation to collect coinsurance, copayment or deductible or notify covered person of obligation for services not covered.

A health carrier which offers or issues a network plan shall notify the participating providers of health care in the network of his or her obligations, if any, to collect applicable coinsurance, copayments or deductibles from a covered person pursuant to the evidence of coverage, or of the obligations, if any, of the participating provider of health care to notify a covered person of the personal financial obligations of the covered person for health care services that are not covered.
(Added to NRS by 2017, 2353)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.795 - Health carrier required to demonstrate capacity to adequately deliver family planning services provided by pharmacists or pharmacies; notice to covered persons; regulations.

1. A health carrier which offers or issues a network plan:
(a) Must demonstrate the capacity to adequately deliver family planning services provided by pharmacists or pharmacies to covered persons in accordance with the regulations adopted pursuant to subsection 2.
(b) Shall make available to each covered person in this State a notice that meets the requirements prescribed by the regulations adopted pursuant to subsection 2 of each pharmacist or pharmacy that has entered into a provider network contract with the carrier to provide family planning services to covered persons who participate in the relevant network plan.
2. The Commissioner shall adopt regulations to carry out the provisions of this section, including, without limitation, regulations prescribing requirements for:
(a) A health carrier to demonstrate compliance with paragraph (a) of subsection 1. Those regulations must not allow a health carrier to demonstrate the capacity to adequately deliver family planning services to covered persons by demonstrating that the health carrier has entered into a network contract with one or more pharmacies for the sole purpose of dispensing prescription drugs to covered persons.
(b) The form and contents of the notice required by paragraph (b) of subsection 1.
(Added to NRS by 2023, 2111)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.800 - Retaliation for good faith reporting to state or federal authority prohibited.

A health carrier which offers or issues a network plan shall not penalize a participating provider of health care in the network because the participating provider of health care, in good faith, reports to state or federal authorities any act or practice by the health carrier that jeopardizes the health or welfare of a covered person.
(Added to NRS by 2017, 2353)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.805 - Prohibited acts by health carrier relating to 340B Program; provisions do not prohibit certain entities from taking actions necessary to prevent duplicate discounts or rebates or ensure financial stability of Medicaid program.

1. A health carrier shall not:
(a) Discriminate against a covered entity, a contract pharmacy or a 340B drug in the amount of reimbursement for any item or service or the procedures for obtaining such reimbursement;
(b) Assess any fee, chargeback, clawback or adjustment against a covered entity or contract pharmacy on the basis that the covered entity or contract pharmacy dispenses a 340B drug or otherwise limit the ability of a covered entity or contract pharmacy to receive the full benefit of purchasing the 340B drug at or below the ceiling price, as calculated pursuant to 42 U.S.C. § 256b(a)(1);
(c) Exclude a covered entity or contract pharmacy from any network because the covered entity or contract pharmacy dispenses a 340B drug;
(d) Restrict the ability of a person to receive a 340B drug, including, without limitation, by imposing a copayment, coinsurance, deductible or other cost-sharing obligation on the drug that is different from a similar drug on the basis that the drug is a 340B drug;
(e) Restrict the methods by which a covered entity or contract pharmacy may dispense or deliver a 340B drug or the entity through which a covered entity may dispense or deliver such a drug in a manner that does not apply to drugs that are not 340B drugs; or
(f) Prohibit a covered entity or contract pharmacy from purchasing a 340B drug or interfere with the ability of a covered entity or contract pharmacy to purchase a 340B drug.
2. This section does not prohibit the Department of Health and Human Services, the Division of Health Care Financing and Policy of the Department of Health and Human Services or a Medicaid managed care organization from taking such actions as are necessary to:
(a) Prevent duplicate discounts or rebates where prohibited by 42 U.S.C. § 256b(a)(5)(A); or
(b) Ensure the financial stability of the Medicaid program, including, without limitation, by including or enforcing provisions in any relevant contract.
3. As used in this section:
(a) "340B drug" means a prescription drug that is purchased by a covered entity under the 340B Program.
(b) "340B Program" means the drug pricing program established by the United States Secretary of Health and Human Services pursuant to section 340B of the Public Health Service Act, 42 U.S.C. § 256b, as amended.
(c) "Contract pharmacy" means a pharmacy that enters into a contract with a covered entity to dispense 340B drugs and provide related pharmacy services to the patients of the covered entity.
(d) "Covered entity" has the meaning ascribed to it in 42 U.S.C. § 256b(a)(4).
(e) "Medicaid managed care organization" has the meaning ascribed to it in 42 U.S.C. § 1396b(m).
(Added to NRS by 2023, 2265)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.810 - Health carrier required to establish mechanism to allow participating provider of health care to determine whether a person is a covered person or within grace period for payment of premium.

A health carrier which offers or issues a network plan shall establish a mechanism by which a participating provider of health care in the network may, in a timely manner at the time health care services are to be provided, determine whether the person to whom the health care services are to be provided is a covered person or is within a grace period for the payment of a premium during which the health carrier may hold a claim for health care services pending receipt of the payment of the premium.
(Added to NRS by 2017, 2353)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.830 - Contract for purposes of network plan prohibited from conflicting with network plan or law; notice of provisions and incorporated documents; notice of changes.

1. A contract entered into for the purposes of a network plan between a participating provider of health care and the health carrier must not contain a provision that conflicts with any provision in the network plan or any requirement set forth in NRS 687B.600 to 687B.850, inclusive.
2. At the time a participating provider of health care signs a contract described in subsection 1, the health carrier and, if applicable, the intermediary shall notify the participating provider of health care of all provisions of the contract and all documents incorporated by reference in the contract.
3. While a contract described in subsection 1 is in force, the health carrier shall provide timely notice to the participating provider of health care of any changes to the provisions of the contract or the documents incorporated by reference in the contract that would result in a material change in the contract.
4. For the purposes of subsection 3, the contract must define what is to be considered timely notice and what is to be considered a material change.
(Added to NRS by 2017, 2353; A 2019, 298)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.840 - Health carrier required to inform participating provider of health care of status and inclusion on certain lists maintained by health carrier upon request or change in such status or inclusion.

A health carrier which offers or issues a network plan shall inform a participating provider of health care with whom the health carrier has contracted for the purposes of the network plan of the status of the participating provider of health care as a provider of health care in the network plan and the status and inclusion of the participating provider of health care on any list of providers of health care maintained by the health carrier. The health carrier shall provide in a timely manner the information required by this section to the participating provider of health care:
1. Upon the request of the participating provider of health care; and
2. Upon any change to the status or inclusion of the participating provider of health care as described in this section.
(Added to NRS by 2017, 2353)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.860 - Definitions.

As used in NRS 687B.860 to 687B.884, inclusive, unless the context otherwise requires, the words and terms defined in NRS 687B.862 to 687B.876, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 2021, 2969)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.872 - "Policy of provider stop-loss insurance" defined.

"Policy of provider stop-loss insurance" means a policy of stop-loss insurance which:
1. Is issued to a provider of health care or a network;
2. Provides coverage for losses of the provider of health care or network above an attachment point which is stated in the policy; and
3. Covers losses of the provider of health care or network which result from the financial risk assumed by the provider of health care or network in a managed care contract with another insurer, including, without limitation, an accident and health insurer, health insurer, health maintenance organization or self-funded group health plan, with whom the provider of health care or network has entered into a contract to provide health care services.
(Added to NRS by 2021, 2970)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.874 - "Policy of stop-loss insurance" defined.

"Policy of stop-loss insurance" means a policy or contract of insurance, which provides coverage for the losses of an insured above an attachment point which is stated in the policy or contract, including, without limitation, a policy of insurance which includes stop-loss coverage or excess loss coverage.
(Added to NRS by 2021, 2970)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.878 - Reporting of premiums written in this State for policies of stop-loss insurance.

An insurer authorized in this State to issue policies or contracts of property and casualty insurance, accident and health insurance or health insurance shall report to the Commissioner any premiums written in this State by the insurer for policies of stop-loss insurance. The insurer shall report the premiums:
1. With the annual statement filed by the insurer pursuant to NRS 680A.270; and
2. In the manner prescribed by the Commissioner.
(Added to NRS by 2021, 2970)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.880 - Exercise of reasonable diligence related to legitimacy and authority required before issuing policy of stop-loss insurance for group health plan.

1. An insurer intending to issue a policy of stop-loss insurance in this State to cover losses of a group health plan shall, before issuing the policy, exercise reasonable diligence to confirm that:
(a) The underlying group health plan is legitimate; and
(b) The entity offering the underlying group health plan is properly authorized to offer the group health plan.
2. If the underlying group health plan is a self-funded multiple employer welfare arrangement, the reasonable diligence required by subsection 1 includes, without limitation, ensuring that the self-funded multiple employer welfare arrangement is authorized to do business in this State pursuant to chapter 680A of NRS as a self-funded multiple employer welfare arrangement.
(Added to NRS by 2021, 2970)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.882 - Policy form for policy of stop-loss insurance for group health plan: Filing; approval; requirements.

A policy form for a policy of stop-loss insurance which is intended for issue in this State to cover losses of a group health plan must be filed with and approved by the Commissioner pursuant to NRS 687B.120 before being delivered or issued for delivery. In addition to any other applicable requirements, the policy form must satisfy the following requirements:
1. The policy of stop-loss insurance must be issued to and insure the sponsor of the group health plan or the group health plan itself and must not be issued to or insure:
(a) Employees covered by the group health plan;
(b) Members of the group health plan; or
(c) Participants in the group health plan.
2. Payments by the insurer under the policy of stop-loss insurance must be made to the sponsor of the group health plan or the group health plan itself and must not be made to:
(a) Employees covered by the group health plan;
(b) Members of the group health plan;
(c) Participants in the group health plan;
(d) Providers of health care who provide health care services pursuant to the group health plan; or
(e) A network whose providers of health care provide health care services pursuant to the group health plan.
(Added to NRS by 2021, 2970)
2023 Nevada Revised Statutes › Chapter 687B - Contracts of Insurance › NRS 687B.884 - Policy form for policy of provider stop-loss insurance: Filing; approval; requirements; accompanying certification.

1. A policy form for a policy of provider stop-loss insurance which is intended for issue in this State must be filed with and approved by the Commissioner pursuant to NRS 687B.120 before being delivered or issued for delivery. In addition to any other applicable requirements, the policy form must satisfy the following requirements:
(a) The policy of provider stop-loss insurance must be issued to and insure the provider of health care or the network which enters into the policy.
(b) Payments by the insurer under the policy of provider stop-loss insurance must be made to the provider of health care or the network which enters into the policy.
(c) The policy of provider stop-loss insurance must provide:
(1) An attachment point per claimant of at least $10,000; and
(2) An aggregate attachment point of at least $100,000 per calendar year.
(d) The policy of provider stop-loss insurance must require that the proof of loss be furnished to the insurer within 90 days after:
(1) The date the loss is incurred; or
(2) Any date provided in the policy which is later than the date the loss is incurred.
2. A policy form filed with the Commissioner for approval as required by subsection 1 must be accompanied by a separate document certifying that each of the requirements specified in paragraphs (a) to (d), inclusive, of subsection 1 have been met.
(Added to NRS by 2021, 2971)
2023 Nevada Revised Statutes › Chapter 687C - Interstate Insurance Product Regulation Compact › NRS 687C.030 - Policy of State relating to opting out of certain uniform standards; notice by Commissioner to Legislature upon determination or finding requiring opting out of standard.

1. It is the policy of this State to opt out of and the Commissioner of Insurance shall by regulation opt out of any uniform standard adopted by the Interstate Insurance Product Regulation Commission which provides less protection than a law of this State or otherwise diminishes the rights of policyholders and persons applying for a policy of insurance in this State.
2. Upon determining, or upon becoming aware of a finding of a court of competent jurisdiction which found, that this State must opt out of a uniform standard pursuant to subsection 1, the Commissioner shall provide to the Director of the Legislative Counsel Bureau for transmittal to the next regular session of the Legislature notice of such determination or finding.
(Added to NRS by 2011, 532; A 2013, 3357)
2023 Nevada Revised Statutes › Chapter 688A - Life Insurance and Annuity Contracts › NRS 688A.020 - "Annuity" defined.

1. For the purposes of this Code, an "annuity" is a contract under which obligations are assumed to make periodic payments for a specific term or terms or where the making or continuance of all or some such payments, or the amount of any such payment, is dependent upon continuance of human life, except payments made pursuant to optional modes of settlement under the authority of NRS 681A.040.
2. The term includes an annuity contract which incorporates long-term care insurance if the annuity contract may incorporate the long-term care insurance pursuant to NRS 688A.440.
(Added to NRS by 1971, 1726; A 2011, 3373)
2023 Nevada Revised Statutes › Chapter 688A - Life Insurance and Annuity Contracts › NRS 688A.030 - "Industrial life insurance" defined.

For the purposes of this Code, "industrial life insurance" is that form of life insurance written under policies of a face amount of $2,500 or less bearing the words "industrial policy" or "weekly premium policy" or words of similar import imprinted on the face thereof as part of the descriptive matter, and under which premiums are payable monthly or more often.
(Added to NRS by 1971, 1727)
2023 Nevada Revised Statutes › Chapter 688A - Life Insurance and Annuity Contracts › NRS 688A.040 - Standard provisions required in certain policies.

1. No policy of life insurance other than pure endowments, with or without return of premiums or of premiums and interest, shall be delivered or issued for delivery in this state unless it contains in substance all of the applicable provisions required by NRS 688A.050 to 688A.160, inclusive. This section does not apply to annuity contracts or to any provision of 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.
2. Any of such provisions or portions thereof not applicable to single premium or nonparticipating or term policies or insurance granted in exchange for lapsed or surrendered policies shall to that extent not be incorporated therein.
(Added to NRS by 1971, 1727)
2023 Nevada Revised Statutes › Chapter 688A - Life Insurance and Annuity Contracts › NRS 688A.060 - Grace period.

There shall be a provision that a grace period of 30 days or, at the option of the insurer, of 1 month of not less than 30 days or of 4 weeks in the case of industrial life insurance policies the premiums for which are payable more frequently than monthly shall be allowed within which the payment of any premium after the first may be made, during which period of grace the policy shall continue in full force. The insurer may impose an interest charge not in excess of 6 percent per annum for the number of days of grace elapsing before the payment of the premium, and, whether or not such interest charge is imposed, if a claim arises under the policy during such period of grace the amount of any premium due or overdue, together with interest and any deferred installment of the annual premium, may be deducted from the policy proceeds. Grace shall date from the premium due date specified in the policy.
(Added to NRS by 1971, 1727)
2023 Nevada Revised Statutes › Chapter 688A - Life Insurance and Annuity Contracts › NRS 688A.070 - Entire contract.

There shall be a provision that except as otherwise expressly provided by law, the policy and the application therefor, if a copy of such application is endorsed upon or attached to the policy when issued, shall constitute the entire contract between the parties, and that all statements contained in the application shall, in the absence of fraud, be deemed representations and not warranties.
(Added to NRS by 1971, 1727)
2023 Nevada Revised Statutes › Chapter 688A - Life Insurance and Annuity Contracts › NRS 688A.080 - Incontestability.

There shall be a provision that the policy shall be incontestable after it has been in force during the lifetime of the insured for a period of not more than 2 years after its date of issue, except for nonpayment of premiums, and, at the insurer’s option, provisions relating to benefits in the event of total and permanent disability and provisions granting additional benefits specifically against death by accident or accidental means.
(Added to NRS by 1971, 1728)
2023 Nevada Revised Statutes › Chapter 688A - Life Insurance and Annuity Contracts › NRS 688A.090 - Misstatement of age.

There shall be a provision that if the age of the insured or of any other person whose age is considered in determining the premium or benefit has been misstated, any amount payable or benefit accruing under the policy shall be such as the premium would have purchased at the correct age or ages.
(Added to NRS by 1971, 1728)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)
2023 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)