1. A Nevada group life policy must give the policyholder a grace period for premiums after the first of:

31 days

NRS 688B.050 requires a 31-day grace period during which death benefit coverage continues unless the policyholder gave advance written notice of discontinuance.

2. An employee whose Nevada group life coverage ends at termination of employment may convert to an individual policy without evidence of insurability by applying and paying within:

31 days after termination

NRS 688B.120 grants conversion to an individual policy, other than term, if application and first premium are made within 31 days after termination.

3. When a Nevada group life policy itself terminates, a covered person may convert only if insured under it for at least 5 years, and the group policy may limit the individual policy to the smaller of the lost coverage or:

$2,000

NRS 688B.130 lets the group policy cap conversion on policy termination at the smaller of the coverage lost (less new group coverage) or $2,000.

4. If a person dies during the Nevada group life conversion period before the individual policy takes effect, the insurer:

Pays the convertible amount as a claim under the group policy

NRS 688B.140 makes the amount that could have been converted payable under the group policy, whether or not application or first premium was made.