688A.020 - “Annuity” defined. - Nevada Statutes

688A.020  “Annuity” defined.  For the purposes of this Code an “annuity” is a contract under which obligations are assumed to make periodic payments for a specific term or terms or where the making or continuance of all or some such payments, or the amount of any such payment, is dependent upon continuance of human life, except payments made pursuant to optional modes of settlement under the authority of NRS 681A.040 (“life insurance” defined). Such a contract which includes extra benefits of the kinds set forth in NRS 681A.030 (“health insurance” defined) and NRS 681A.040 (“life insurance” defined) shall nevertheless be deemed to be an annuity if such extra benefits constitute a subsidiary or incidental part of the entire contract.

      (Added to NRS by 1971, 1726)