Nevada Revised Statutes 686C.020 – Purpose of chapter
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The purpose of this chapter is to protect, within certain limits, the persons specified in subsections 1 and 2 of NRS 686C.030 against failure in the performance of contractual obligations under life insurance, health insurance and annuity policies or contracts specified in subsection 4 of NRS 686C.030 because of the impairment or insolvency of a member insurer issuing such policies or contracts.
Terms Used In Nevada Revised Statutes 686C.020
- 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.