Requires notice prior to lapse of life insurance policy due to nonpayment of premium.
Take action
Record your position on this measure.
Create an account to take a stance, submit a written position, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill requires life insurance companies in New Jersey to notify policyholders and their producers at least 10 days before a policy lapses due to missed premium payments. The notification must be delivered through regular mail, electronic mail, and telephone, utilizing the most appropriate method based on the insured’s and producer’s contact information. This ensures policyholders have ample time to update their payments and avoid policy cancellation. The notification also supplements any existing notices related to premium payments or policy lapses.
Bill text
Read the latest version inline or switch to a previous version.
Document of record
- Version
- Introduced
- Published
- Not published in the source record
This version is published only as a document. Open the viewer to read it here, or download the file.
Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours