State statute · Nevada

Life Insurance and Annuity Contracts (standard policy provisions, nonforfeiture, incontestability, annuity contract requirements)

NRS Chapter 688A

Publisher: Nevada Legislature
Edition: NRS 2025 edition
Last checked: 2026-09-02
Status: Nevada Revised Statutes Title 57, public domain

Edition and licensing notes

Publisher. Nevada Legislature (leg.state.nv.us)

Edition. NRS 2025 edition; page revision stamp "[Rev. 4/15/2026 4:08:15 PM--2025]" (through the 2025 regular session)

Status. Nevada Revised Statutes Title 57, public domain (state government edict).

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What this document is

NRS Chapter 688A - Life Insurance and Annuity Contracts (standard policy provisions, nonforfeiture, incontestability, annuity contract requirements) 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 688A.220 (Annuities: Misstatement of age or sex)
“In an annuity or pure endowment contract, other than a reversionary, survivorship or group annuity, there shall be a provision that if the age or sex of the person or persons upon whose life or lives the contract is made, or of any of them, has been misstated, the amount payable or benefits...”
NRS 688A.060 (Grace period)
“There shall be a provision that a grace period of 30 days or, at the option of the insurer, of 1 month of not less than 30 days or of 4 weeks in the case of industrial life insurance policies the premiums for which are payable more frequently than monthly shall be allowed within which the payment...”
NRS 688A.170 (Excluded or restricted coverage)
“A clause in any policy of life insurance providing that such policy shall be incontestable after a specified period shall preclude only a contest of the validity of the policy, and shall not preclude the assertion at any time of defenses based upon provisions in the policy which exclude or restrict...”
NRS 688A.110 § 1 (Loan secured by policy)
“There shall be a provision that after 3 full years’ premiums have been paid and after the policy has a cash surrender value and while no premium is in default beyond the grace period for payment, the insurer will advance, on proper assignment or pledge of the policy and on the sole security...”
NRS 688A.130 (Reinstatement)
“There must be a provision that unless: 1. The policy has been surrendered for its cash surrender value; 2. Its cash surrender value has been exhausted; or 3. The paid-up term insurance, if any, has expired, the policy will be reinstated at any time within 3 years after the date of premium default...”

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Nevada Life & Health practice test

Questions about this source

NRS Chapter 688A - Life Insurance and Annuity Contracts (standard policy provisions, nonforfeiture, incontestability, annuity contract requirements) is a state statute published by Nevada Legislature (leg.state.nv.us). Edition: NRS 2025 edition; page revision stamp "[Rev. 4/15/2026 4:08:15 PM--2025]" (through the 2025 regular session).

No. This page summarizes the document and links to the official version. Always rely on the text published by Nevada Legislature (leg.state.nv.us) for the current law.

Practice questions for Nevada Life & Health cite this document.

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