Section 687B.243 - Lapse of policy to supplement Medicare or certificate for nonpayment of premium: Notice required before termination of policy or certificate1. An issuer may not terminate a policy to supplement Medicare or certificate advertised, solicited or issued for delivery in this State based on the lack of payment of the premium on or before the date the premium is required to be paid, unless the insured and each person designated by the insured pursuant to NAC 687B.245 has received a notice sent by the issuer stating that the policy has lapsed and may be terminated for nonpayment of the premium.2. For the purposes of this section, the notice:(a) Must be sent by first-class mail, postage prepaid, and addressed to the person at his or her last known address.(b) Shall be deemed to have been received by the insured or the person designated by the insured pursuant to NAC 687B.245 on the fifth day after the date on which the issuer mails the notice.Nev. Admin. Code § 687B.243
Added to NAC by Comm'r of Insurance by R027-04, eff. 8-2-2004