Nevada § 688B.040 Provisions required in policy

Nevada Statutes

§ 688B.040 — Provisions required in policy

Nevada § 688B.040

Title 57INSURANCE

Ch. 688BGroup

This text of Nevada § 688B.040 (Provisions required in 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. § 688B.040 (2026).

Text

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

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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.