NAC686A.467. “Nonterm group policy of life insurance” defined.

Latest version.

“Nonterm group policy of life insurance” means a group policy or an individual policy of life insurance issued to the members of a group of employees or another authorized group of persons if:

     1. Every plan of coverage was selected by the employer or group representative;

     2. A portion of the premium is paid by the group or through payroll deduction; and

     3. Group underwriting or simplified underwriting is used.

(Added to NAC by Comm’r of Insurance by R089-97, eff. 1-14-98)

                    
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