- 1. No annuity contract, pure endowment contract or policy of life insurance, other than a replacement contract or policy, may be delivered or issued for delivery in this state unless it contains a provision, or a notice attached to the contract or policy, which, in substance, states that during a period of 10 days from the date the contract or policy is delivered to the contract or policy owner, it may be surrendered to the insurer together with a written request for cancellation of the contract or policy and in such event, the insurer will refund any premium paid therefor, including any contract or policy fees or other charges.
- 2. No annuity contract, pure endowment contract or policy of life insurance that is a replacement contract or policy may be delivered or issued for delivery in this State unless it contains a provision, or a notice attached to the contract or policy, which, in substance, states that during a period of 30 days after the date on which the contract or policy is delivered to the contract or policy owner, it may be surrendered to the insurer together with a written request for cancellation of the contract or policy and in such event, the insurer will refund any premium paid therefor, including any contract or policy fees or other charges.
- 3. This section does not apply to industrial life insurance policies.
(Added to NRS by 1977, 455; A 2011, 3373)