Nevada § 687B.200 Assignability: Life or health insurance policy

Nevada Statutes

§ 687B.200 — Assignability: Life or health insurance policy

Nevada § 687B.200

Title 57INSURANCE

Ch. 687BContracts

GENERAL PROVISIONS

This text of Nevada § 687B.200 (Assignability: Life or health insurance policy) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 687B.200 (2026).

Text

1.The purpose of this section is to confirm and clarify the right to provide for an assignment by which a person covered by a life or health insurance policy may divest himself or herself of all incidents of ownership provided by the policy, including the conversion privileges of the policy.

2.Any person insured under a life or health insurance policy may make an assignment of all or any part of the incidents of ownership of the person under the policy, including, but not limited to, the privilege to have issued to the person an individual policy of life or health insurance pursuant to the provisions of this Code and the right to name a beneficiary. Subject to the terms of the policy or agreement between the insured, the policyholder and the insurer relating to assignment of incidents of

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1. The purpose of this section is to confirm and clarify the right to provide for an assignment by which a person covered by a life or health insurance policy may divest himself or herself of all incidents of ownership provided by the policy, including the conversion privileges of the policy.
2. Any person insured under a life or health insurance policy may make an assignment of all or any part of the incidents of ownership of the person under the policy, including, but not limited to, the privilege to have issued to the person an individual policy of life or health insurance pursuant to the provisions of this Code and the right to name a beneficiary. Subject to the terms of the policy or agreement between the insured, the policyholder and the insurer relating to assignment of incidents of ownership thereunder, such an assignment by an insured, whenever made, is valid for the purpose of vesting in the assignee all of the incidents of ownership so assigned. Such an assignment does not prejudice the insurer on account of any payment it may make or individual policy it may issue prior to receipt of notice of the assignment.
3. This section also applies to contracts issued by organizations for dental care and nonprofit hospital, medical and dental service corporations.