Nevada Administrative Code (Last Updated: January 6, 2015)

NAC690A.107. Credit life insurance: Limitation on benefits if indebtedness is repayable in substantially equal installments.

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If any indebtedness is repayable in substantially equal installments, the amount of the benefit provided under a policy of credit life insurance for which the premium is charged on a single premium basis must not exceed the amount financed and the premium for the policy must be calculated in accordance with subsection 2 of NAC 690A.105.

(Added to NAC by Comm’r of Insurance by R145-08, eff. 9-18-2008)

                    
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