State statute · New Jersey

Life Insurance Policy Provisions

N.J.S.A. Title 17B, Chapter 25, Secs. 17B:25-1 to 17B:25-17

Publisher: New Jersey Office of Legislative Services
Edition: New Jersey permanent statutes, bulk STATUTES.TXT updated through P.L.2025, retrieved...
Last checked: 2026-09-11
Status: US state statute

Edition and licensing notes

Publisher. New Jersey Office of Legislative Services (pub.njleg.state.nj.us)

Edition. New Jersey permanent statutes, bulk STATUTES.TXT updated through P.L.2025, retrieved 2026-09-11

Status. US state statute; public domain.

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What this document is

N.J.S.A. Title 17B, Chapter 25 - Life Insurance Policy Provisions (Secs. 17B:25-1 to 17B:25-17) is a state statute published by New Jersey Office of Legislative Services (pub.njleg.state.nj.us). It is one of the New Jersey documents that insurance license exam questions are written from, including new jersey life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

N.J.S.A. § 17B:25-17 (Incontestability; Limitation of Liability After Reinstatement)
“A reinstated policy of life insurance may be contested on account of fraud or misrepresentation of facts material to the reinstatement only for the same period following reinstatement and with the same conditions and exceptions as the policy provides with respect to contestability after original issuance.”
N.J.S.A. § 17B:25-7 (Dividends)
“If any such other dividend options are provided, the policy shall further state which option shall be automatically effective if such party shall not have elected some other option. If the policy specifies a period within which such other dividend option may be elected, such period shall be not...”
N.J.S.A. § 17B:25-5 (Entire Contract)
“There shall be a provision that the policy, or the policy and the application therefor if a copy of such application is attached to or endorsed upon the policy when issued, shall constitute the entire contract between the parties, and that all statements contained in such an application shall, in...”
N.J.S.A. § 17B:25-12 (Beneficiary; industrial policies)
“The policy may also provide that if the beneficiary designated in the policy does not make a claim under the policy or does not surrender the policy with due proof of death within the period stated in the policy, which shall not be less than 30 days after the death of the insured, or if the...”
N.J.S.A. § 17B:25-2.1 (Cancellation of Policy After Receipt)
“during a period of no less than 10 days after the date the policyholder receives the policy, the policyholder may cancel the policy and receive from the insurer a prompt refund of any premium paid therefor, including any policy fees or other charges, by mailing or otherwise surrendering the policy...”
N.J.S.A. § 17B:25-3 (Grace Period, Deductions from Settlement)
“but if a claim arises under the policy during such period of grace, the amount of any premium due or overdue, together with such interest, if any, and any deferred premiums of the current policy year may be deducted from any amount payable under the policy in settlement.”
N.J.S.A. § 17B:25-3 (Grace Period)
“shall be allowed within which the payment of any premium after the first may be made, subject, at the option of the insurer, to an interest charge not in excess of 6% per annum for the number of days of grace elapsing before the payment of the premium, during which period of grace the policy shall...”
N.J.S.A. § 17B:25-4 (Incontestability)
“There shall be a provision that the policy (exclusive of provisions of the policy or any contract supplemental thereto relating to disability benefits or to additional benefits in event of death by accident or accidental means or in event of dismemberment or loss of sight) shall be incontestable,...”
N.J.S.A. § 17B:25-1 ("Industrial life insurance"; definition)
“For the purpose of this code, "Industrial life insurance" is that form of life insurance, issued by an insurer which, as to such insurance, is operating under a debit plan of premium collection by agents, and under which the premiums are payable monthly or oftener and the words "industrial policy"...”
N.J.S.A. § 17B:25-6 (Misstatement of Age)
“There shall be a provision that if the age of the insured or of any other person whose age is considered in determining the premium or benefit has been misstated, any amount payable or benefit accruing under the policy shall be such as the premium would have purchased at the correct age or ages.”
N.J.S.A. § 17B:25-11(c) (Payment of Claims: Deadline After Requested Documents Are Received)
“The insurer, upon receipt of any document or information requested relating to a claim or portion of a claim under investigation, shall pay the benefits for which the claim is made or deny the claim no later than the 90th calendar day following the receipt of the document or information.”
N.J.S.A. § 17B:25-8 (Policy Loan)
“The policy shall reserve to the insurer the right to defer the granting of a loan, other than for the payment of any premium to the insurer, for 6 months after application therefor.”

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No. This page summarizes the document and links to the official version. Always rely on the text published by New Jersey Office of Legislative Services (pub.njleg.state.nj.us) for the current law.

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