Nevada Revised Statutes 686C.038 – Applicability of chapter to riders for long-term care
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For the purposes of this chapter, benefits provided pursuant to a rider for long-term care to a life insurance policy or annuity contract shall be deemed the same type of benefits provided in the life insurance policy or annuity contract to which the rider applies.
Terms Used In Nevada Revised Statutes 686C.038
- 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.
- Contract: A legal written agreement that becomes binding when signed.