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Nevada Revised Statutes Title 57. Insurance § 688A.3637. Maturity date

Current as of January 01, 2025 | Updated by Findlaw Staff

1. For the purpose of determining the benefits calculated under NRS 688A.3633 and 688A.3635:

(a) In the case of annuity contracts issued before January 1, 2012, under which an election may be made to have annuity payments commence at optional maturity dates, the maturity date shall be deemed to be the latest date for which election is permitted by the contract, but shall not be deemed to be later than the anniversary of the contract next following the annuitant's 70th birthday or the 10th anniversary of the contract, whichever is later.

(b) In the case of annuity contracts issued on or after January 1, 2012, the maturity date shall be deemed to be the latest date permitted by the contract, but shall not be deemed to be later than the anniversary of the contract next following the annuitant's 70th birthday or the 10th anniversary of the contract, whichever is later.

2. For the purpose of determining the maturity date under this section for an annuity contract that provides for flexible considerations, the 10th anniversary of the contract is determined separately for each consideration.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 57. Insurance § 688A.3637. Maturity date - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-57-insurance/nv-rev-st-688a-3637/

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