An insurer shall pay the proceeds of any benefits under a group life insurance policy not more than 30 days after the death of the insured. If the proceeds are not paid within this period, the insurer shall pay interest on the proceeds, at a rate that is not less than the current rate of interest on death proceeds on deposit with the insurer, from the date of death of the insured to the date when the proceeds are paid.
(Added to NRS by 1997, 3033)
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.