Nev. Rev. Stat. ch. 688D – Payment of Benefits Upon Death of Insured | Midpage

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Nevada Revised Statutes

Chapter 688D

Nev. Rev. Stat. ch. 688D

Payment of Benefits Upon Death of Insured

688D.010Definitions 688D.020“Benefit contract” defined 688D.030“Death Master File” defined 688D.040“Insured” defined 688D.050“Policy of life insurance” defined 688D.060“Retained asset account” defined 688D.070Applicability 688D.080Insurer required to request information sufficient to ensure payment of benefits upon death of insured 688D.090Insurer required to compare policies of life insurance, annuities, benefit contracts and retained asset accounts against Death Master File at least semiannually; duties of insurer upon match; records; presumption of abandonment; disclosure of personal information; required confirmation of possible death if insurer maintains certain information under group life insurance policy; exception 688D.100Insurer prohibited from charging insured or beneficiary fees for search or verification 688D.110Notice to State Treasurer upon reversion by escheat; contents; transfer to State Treasurer of unclaimed benefit and interest; exception 688D.120Order of Commissioner: Authorization to search only electronically; approval of timeline to make files searchable electronically; exemption from requirements; approval of plan for compliance 688D.130Failure of insurer to comply with chapter may constitute unfair trade practice; exception 688D.140Regulations