Nevada Revised Statutes 689A.180 – Optional provisions: Requirements; substitution of provisions; captions
Except as otherwise provided in NRS 689A.040, no such policy delivered or issued for delivery to any person in this State may contain provisions respecting the matters set forth in NRS 689A.190 to 689A.270, inclusive, unless the provisions are in the words in which the provisions appear in the applicable section, except that the insurer may, at its option, use in lieu of any such provision a corresponding provision of different wording approved by the Commissioner which is not less favorable in any respect to the insured or the beneficiary. Any such provision contained in the policy must be preceded individually by the appropriate caption or, at the option of the insurer, by such appropriate individual or group captions or subcaptions as the Commissioner may approve.
Terms Used In Nevada Revised Statutes 689A.180
- 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
- insured: as used in this chapter , shall not be construed as preventing a person other than the insured with a proper insurable interest from making application for and owning a policy covering the insured or from being entitled under such a policy to any indemnities, benefits and rights provided therein. See Nevada Revised Statutes 689A.310
- 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