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.

Source: Section 688A.240 — Annuities: Reinstatement., https://www.leg.state.nv.us/NRS/NRS-688A.html#NRS688ASec240.

688A.010
Scope. 688A.020
“Annuity” defined. 688A.030
“Industrial life insurance” defined. 688A.040
Standard provisions required. 688A.050
Payment of premiums. 688A.060
Grace period. 688A.070
Entire contract. 688A.080
Incontestability. 688A.090
Misstatement of age. 688A.100
Dividends. 688A.110
Loan secured by policy. 688A.120
Table of installments. 688A.130
Reinstatement. 688A.140
Payment of claims. 688A.150
Beneficiary: Industrial policies. 688A.160
Title. 688A.165
Surrender and request for cancellation of contract or policy. 688A.170
Excluded or restricted coverage. 688A.180
Standard provisions: Annuity and pure endowment contracts. 688A.190
Annuities: Grace period. 688A.200
Annuities: Incontestability. 688A.210
Annuities: Entire contract. 688A.220
Annuities: Misstatement of age or sex. 688A.230
Annuities: Dividends. 688A.240
Annuities: Reinstatement. 688A.250
Standard provisions: Reversionary annuities. 688A.260
Provisions limiting liability. 688A.270
Prohibited provisions. 688A.280
Provisions required by law of other jurisdiction. 688A.281
Qualified charitable-gift annuity: Definitions. 688A.282
Qualified charitable-gift annuity: Issuance does not constitute transacting insurance. 688A.283
Qualified charitable-gift annuity: Contents and form of required disclosure. 688A.284
Qualified charitable-gift annuity: Required notice to Commissioner 688A.285
Qualified charitable-gift annuity: Effect of noncompliance

Last Updated

Feb. 5, 2021

§ 688A.240’s source at nv.us

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Location: https://nevada.public.law/statutes/nrs_688a.240

Original Source: Section 688A.240 — Annuities: Reinstatement., https://www.leg.state.nv.us/NRS/NRS-688A.html#NRS688ASec240 (last accessed Feb. 5, 2021).