New Jersey Life Insurance: The Basics

New Jersey life insurance regulations mostly concern claims issues. However having a basic understanding of these regulations is still a good idea.

New Jersey life insurance state regulations

Basic state regulations:

  • A 10-day "free look" period.
  • A 30-day grace period on late payments.
  • Claims should be settled within two months of the insurer receiving proof of death.
  • Misstatements, even accidental ones, can result in policy cancellation.
  • Misstatement of age will result in the death benefit being adjusted to reflect the actual age of the insured.

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To apply for a New Jersey term life insurance policy, or if you just want a quick online quote, visit Netquote now.
If you are not sure about what type of life coverage you want, you can also try Insurecom. They will put you in touch with agents who can answer any questions that you might have.

The New Jersey Life Guaranty

Your insurer must be licensed in New Jersey to qualify for the protection under this association. You can check by contacting the New Jersey Division of Insurance at 1-(800) 446-7467 or (609) 292-5316.

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Apply now for a quote at Netquote
(for New Jersey term life insurance), or Insurecom.
All quotes are from licensed insurers in New Jersey.

Additional NJ life insurance information

To get the best price on your NJ life insurance policy, start with our guide to term life insurance or sign-up for our free life insurance course (see below).

For more information on NJ life insurance laws and regulations, visit the state's official website at the New Jersey Department of Banking and Insurance.

For more help . . .

Getting the lowest possible premium on your life insurance is almost like an art form. There are many variables to consider, and to get the right balance of term length, benefit amounts, and policy riders and illustrations, you need to take a careful step-by-step approach to the buying process.

Our free life insurance course is designed to help you do just that.

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