NAC686A.4945. Engaging in certain acts or practices relating to Servicemembers’ Group Life Insurance or Veterans’ Group Life Insurance.

An insurer or producer of insurance engages in an unfair or deceptive act or practice in violation of NRS 686A.020 if the insurer or producer of insurance:

     1. Makes any false, misleading or deceptive representation regarding the availability, suitability, amount or cost of, or exclusions or limitations to, coverage provided to an active duty service member or the dependents of an active duty service member by Servicemembers’ Group Life Insurance or Veterans’ Group Life Insurance.

     2. Makes any false, misleading or deceptive representation regarding the requirements to convert to a private insurer, including, without limitation, the costs of, or exclusions or limitations to, coverage of Servicemembers’ Group Life Insurance or Veterans’ Group Life Insurance.

     3. Suggests or recommends to an active duty service member that the active duty service member cancel or terminate his or her policy with Servicemembers’ Group Life Insurance, or encourages an active duty service member to cancel or terminate his or her policy with Servicemembers’ Group Life Insurance.

     4. Issues a life insurance policy which replaces an existing life insurance policy with Servicemembers’ Group Life Insurance, unless the replacement life insurance policy takes effect upon or after the separation of the active duty service member from the United States Armed Forces.

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