NRS 688A.361
Nonforfeiture provisions required in annuity contracts.
1.
A statement that upon cessation of payment of considerations under a contract, or upon receipt of a written request submitted by an owner of a contract, the company will grant a paid-up annuity benefit on a plan stipulated in the contract of such value as is specified in NRS 688A.3631 to 688A.3637, inclusive, and 688A.366;2.
If a contract provides for a lump-sum settlement at maturity or any other time, a statement that upon surrender of the contract at or before the commencement of any annuity payments, the company will pay in lieu of any paid-up annuity benefit a cash surrender benefit of an amount specified in NRS 688A.3631, 688A.3633, 688A.3637 and 688A.366, and that the company may reserve the right to defer the payment of such cash surrender benefit for a period of not more than 6 months after demand therefor with surrender of the contract if the company submits a written request to and receives written approval for the deferral from the Commissioner. The request must address the necessity and equitability to all policyholders of the deferral;3.
A statement of the mortality table, if any, and interest rates used in calculating any minimum paid-up annuity, cash surrender or death benefits which are guaranteed under the contract, together with sufficient information to determine the amounts of those benefits; and4.
A statement that any paid-up annuity, cash surrender or death benefits which may be available under the contract are not less than the minimum benefits required by any statute of the state in which the contract is delivered and an explanation of the manner in which such benefits are altered by the existence of any additional amounts credited by the company to the contract, any indebtedness to the company on the contract or any prior withdrawals from or partial surrenders of the contract,
Source:
Section 688A.361 — Nonforfeiture provisions required in annuity contracts., https://www.leg.state.nv.us/NRS/NRS-688A.html#NRS688ASec361
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