Nevada Revised Statutes 688B.070 – Additional provisions required in policy
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The group life insurance policy shall contain a provision:
Terms Used In Nevada Revised Statutes 688B.070
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
1. That a copy of the application, if any, of the policyholder shall be attached to the policy when issued and become a part of the contract;
2. That all statements made by the policyholder or by the persons insured shall be deemed representations and not warranties; and
3. That no statement made by any person insured shall be used in any contest unless a copy of the instrument containing the statement is or has been furnished to such person or to the beneficiary of the person.