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- Title 17b. Insurance
- Chapter 17b:17. Scope of Act
N.J.S. § 17B:17-3 Life Insurance Defined
| Library | New Jersey Permanent Statutes |
| Edition | 2023 |
| Currency | Current through L. 2023, c. 194. |
| Year | 2023 |
| Citation | N.J.S. § 17B:17-3 |
"Life insurance" is a policy or contract whereby an insurer is obligated to pay or allow a benefit of pecuniary value with respect to the cessation of human life. Life insurance includes also the granting of endowment benefits and optional modes of settlement of proceeds of life insurance as well as provisions for a. additional benefits in event of death by accident or accidental means or in event of dismemberment or loss of sight, or b. safeguarding such insurance against lapse or giv...
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