NAC686A.494. Engaging in act or practice which leads to confusion regarding premiums, costs or investment returns.

An insurer or producer of insurance engages in an act or practice which leads to confusion regarding premiums, costs or investment returns, and which constitutes an unfair or deceptive act or practice in violation of NRS 686A.020, if the insurer or producer of insurance:

     1. Uses or describes the credited interest rate on a life insurance policy in a manner that implies that the credited interest rate is a net return on premium paid.

     2. Misrepresents the mortality costs of a life insurance product other than an individually issued annuity. Violations of this subsection include, without limitation, stating or implying that a life insurance product costs nothing or is free.

     (Added to NAC by Comm’r of Insurance by R031-07, 8-31-2007, eff. 9-1-2007)