1. If any individual insured under a group life insurance policy delivered in this state after January 1, 1972, becomes entitled under the terms of such policy to have an individual policy of life insurance issued to the individual without evidence of insurability, subject to the making of an application and payment of the first premium within the period specified in such policy, and if such individual is not given notice of the existence of such right at least 15 days prior to the expiration date of such period, then the individual shall have an additional period within which to exercise such right; but nothing contained in this section shall be construed to continue any insurance beyond the period provided in such policy.
2. This additional period shall expire 15 days next after the individual is given such notice, but in no event shall such additional period extend beyond 60 days next after the expiration date of the period provided in such policy.
3. Written notice presented to the individual or mailed by the policyholder to the last known address of the individual or mailed by the insurer to the last known address of the individual as furnished by the policyholder shall constitute notice for the purpose of this section.
(Added to NRS by 1971, 1750)
Structure Nevada Revised Statutes
Chapter 688B - Group Life Insurance
NRS 688B.010 - Short title; scope.
NRS 688B.020 - "Wholesale life insurance" defined.
NRS 688B.040 - Provisions required in policy.
NRS 688B.060 - Incontestability.
NRS 688B.070 - Additional provisions required in policy.
NRS 688B.090 - Misstatement of age.
NRS 688B.100 - Payment of benefits.
NRS 688B.120 - Conversion on termination of eligibility.
NRS 688B.130 - Conversion on termination of policy.
NRS 688B.140 - Death pending conversion.
NRS 688B.150 - Information to debtor.
NRS 688B.160 - Notice as to right of conversion.
NRS 688B.170 - Readjustment of premium.
NRS 688B.180 - Application of dividends and rate reductions; applicability.