Nev. Admin. Code § 681A.Sec. 5

Current through November 8, 2024

Section 681A.Sec. 5 - NEW

"Attained-age-based yearly renewable term life insurance policy" means a yearly renewable term life insurance policy in which the premium rates on both the initial current premium scale and the guaranteed maximum premium scale are:

1. Based upon the attained age of the insured such that the rates for any given policy at a given attained age of the insured is independent of the year the policy was issued; and

2. The same as the premium rates for policies covering all insured of the same sex, risk class, plan of insurance and attained age.

Nev. Admin. Code § 681A.Sec. 5

Added to NAC by Comm'r of Insurance by R187-22A, eff. 12/14/2022

NRS 679B.130, 681A.130, 681A.145