1.  An insurer may purchase an annuity to ensure the payment of a claim filed with the insurer pursuant to chapters 616A to 616D, inclusive, or chapter 617 of NRS.

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Terms Used In Nevada Revised Statutes 616C.412

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.

2.  The Commissioner shall adopt such regulations as are necessary to carry out the provisions of this section.

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