An insurer shall pay the proceeds of any benefits under a group life insurance policy not more than 30 days after the death of the insured. If the proceeds are not paid within this period, the insurer shall pay interest on the proceeds, at a rate that is not less than the current rate of interest on death proceeds on deposit with the insurer, from the date of death of the insured to the date when the proceeds are paid.
NRS 688B.190
Proceeds of benefits required to be paid within 30 days after death of insured; interest
Known as the Group Life Insurance Law
The act spans §§ 688–688 (19 sections).
(Added to NRS by 1997, 3033)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.