Group Life Insurance (Group Life Insurance Law: required provisions, grace period, incontestability, conversion)

What this document is

NRS Chapter 688B - Group Life Insurance (Group Life Insurance Law: required provisions, grace period, incontestability, conversion) is a state statute published by Nevada Legislature (leg.state.nv.us). It is one of the Nevada documents that insurance license exam questions are written from, including nevada life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• NRS ch. 688B § 688B.120 (Conversion on termination of eligibility)

  “The group life insurance policy shall contain a provision that if the insurance on a person covered under the policy ceases because of termination of employment or of membership in the class or classes eligible for coverage under the policy, such person shall be entitled to have issued to him or...”

• NRS ch. 688B § 688B.140 (Death pending conversion)

  “The group life insurance policy shall contain a provision that if a person insured under the policy dies during the period within which the person would have been entitled to have an individual policy issued to him or her in accordance with NRS 688B.120 or 688B.130 and before such an individual...”

• NRS ch. 688B § 688B.050 (Grace period)

  “The group life insurance policy shall contain a provision that the policyholder is entitled to a grace period of 31 days for the payment of any premium due except the first, during which grace period the death benefit coverage shall continue in force, unless the policyholder has given the insurer...”

• NRS ch. 688B § 688B.030(1)-(2) (Group life insurance prohibited unless approved by Commissioner)

  “1. Except as otherwise provided in this section, no policy of group life insurance may be delivered or issued for delivery in this State to a group which was formed for the purpose of purchasing one or more policies of group life insurance. 2. A policy of group life insurance may be delivered to a...”

• NRS ch. 688B § 688B.060 (Incontestability)

  “The group life insurance policy shall contain a provision that the validity of the policy shall not be contested, except for nonpayment of premium, after it has been in force for 2 years from its date of issue; and that no statement made by any person insured under the policy relating to the...”

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More Nevada sources

• NRS Chapter 686A - Trade Practices and Frauds (Secs. 686A.010-686A.730 complete, including 686A.130 rebates and 686A.310 unfair claim settlement practices)State statute
• NRS Chapter 689A - Individual Health Insurance (Secs. 689A.010-689A.755 complete)State statute
• NRS Chapters 679A and 679B - Insurance Code General Provisions and Commissioner of Insurance (scope, definitions, Commissioner's powers, examinations, hearings, fraud investigations)State statute
• NRS Chapters 689B and 689C - Group and Blanket Health Insurance and Health Insurance for Small EmployersState statute
• NRS Chapter 686C - Nevada Life and Health Insurance Guaranty Association (coverage, benefit limits, assessments, prohibited advertising)State statute
• NRS Chapters 695B and 695C - Nonprofit Corporations for Hospital, Medical and Dental Service, and Health Maintenance OrganizationsState statute
• NRS Chapter 689A - Individual Health Insurance (required and optional policy provisions, disability coverage, mandated benefits)State statute
• NRS Chapter 687B - Contracts of Insurance (formation, policy forms, cancellation and nonrenewal, claims, provisions applicable to all insurers)State statute