Articles Posted in NEW JERSEY LIFE INSURANCE

New Jersey Statute 17B:25-4 provides crucial protections for life insurance policyholders by stipulating that life insurance policies become incontestable after a specified period, except under certain conditions. This legal provision helps ensure that after two years from the date of issue, the validity of a policy cannot be challenged by the insurer, giving policyholders peace…

Life insurance can provide crucial financial support to beneficiaries upon the policyholder’s death, but understanding the process for claiming these benefits may be vital. New Jersey Statute 17B:25-11 outlines specific provisions regarding the payment of claims, including required timelines for insurers to settle claims or notify claimants of any issues. This article breaks down these…

Interpleader actions are legal processes used by insurers when there are disputes over who is entitled to receive the proceeds from a life insurance policy. In New Jersey, such disputes can sometimes escalate to the federal court level, particularly when conflicting claims involve parties from different states or large sums of money. Understanding how to…